TrueShares Structured Outcome

SEPZ • BATS

TrueShares Structured Outcome is an exchange-traded fund on BATS. As of Q3 2025, 27 institutional investors hold shares in this ETF, with total holdings valued at $85.8M. AE Wealth Management LLC is the largest holder with a position valued at $44.3M.

Overview

Overview of institutional ownership in SEPZ as of Q3 2025

All Institutions

Institutions: 27
Value Held: $85.8M
Shares Held: 2.0M
Avg Position: $3.2M
Median Position: $655.6K

Hedge Funds

Hedge Funds: 0
Value Held: -
Shares Held: -
Avg Position: -
Median Position: -

Biggest Investors

Institutions with the largest positions in SEPZ as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
AE Wealth Management LLC RIA/Wealth	David James Callanan CEO	$44.3M 0.29% of portfolio	1.0M shares	Q2 2025 Held for 5 months	$15.2B
T TrueMark Investments, LLC Institution	Michael Norman Loukas CEO	$9.5M 1.65% of portfolio	224.3K shares	Q1 2025 Held for 8 months	$574.7M
Lloyd Advisory Services, LLC. RIA/Wealth	Mark Alan Lloyd CEO	$7.3M 3.73% of portfolio	173.6K shares	Q2 2025 Held for 5 months	$196.9M
B B.O.S.S. Retirement Advisors, LLC RIA/Wealth	Ryan Thacker Founder	$3.5M 0.88% of portfolio	83.8K shares	Q2 2025 Held for 5 months	$405.0M
W Weaver Consulting Group RIA/Wealth	Jason Michael Weaver Managing Partner	$3.0M 0.78% of portfolio	70.3K shares	Q3 2020 Held for 5y 2m	$382.8M
L LifeWealth Investments, LLC Institution	-	$2.6M 0.78% of portfolio	61.5K shares	Q2 2025 Held for 5 months	$334.1M
Valtinson Bruner Financial Planning LLC RIA/Wealth	Lauris Devon Valtinson Managing Partner	$2.2M 0.66% of portfolio	52.5K shares	Q3 2021 Held for 4y 2m	$336.1M
F FSR Wealth Management Ltd. Institution	-	$2.1M 3.04% of portfolio	50.1K shares	Q2 2025 Held for 5 months	$69.8M
SMART Wealth LLC RIA/Wealth	David Andrew Brooks CEO	$2.0M 0.79% of portfolio	46.9K shares	Q2 2025 Held for 5 months	$250.6M
HOWARD BAILEY SECURITIES, LLC RIA/Wealth	Casey Bailey Weade CEO	$1.7M 0.70% of portfolio	39.8K shares	Q2 2025 Held for 5 months	$239.8M

Net Capital Flow

Institutional buying and selling activity for SEPZ in Q3 2025

Traded: +$2.7M
Buyers: 11
Sellers: 16
Total Bought: +$5.1M
Total Sold: −$2.4M
Avg Position: $2.8M

Biggest Buyers

Institution	Net Bought	Current Position
T TrueMark Investments, LLC Institution	+$2.0M +47.6K shares	$9.5M 224.3K shares
L LifeWealth Investments, LLC Institution	+$1.4M +32.6K shares	$2.6M 61.5K shares
O OLD MISSION CAPITAL LLC Institution	+$655.6K +15.5K shares	$655.6K 15.5K shares
W WOLVERINE TRADING, LLC Institution	+$468.1K +11.1K shares	$468.1K 11.1K shares
A Advisor Group Holdings, Inc. Institution	+$178.3K +4.3K shares	$829.3K 20.0K shares
SMART Wealth LLC RIA/Wealth	+$164.4K +3.9K shares	$2.0M 46.9K shares
Family Wealth Group, LLC RIA/Wealth	+$120.0K +2.8K shares	$1.4M 32.8K shares
SRS Capital Advisors, Inc. RIA/Wealth	+$71.0K +1.7K shares	$71.0K 1.7K shares
W Weaver Consulting Group RIA/Wealth	+$42.5K +1.0K shares	$3.0M 70.3K shares
F FSA Advisors, Inc. Institution	+$36.5K +863.0 shares	$564.5K 13.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
AE Wealth Management LLC RIA/Wealth	−$946.5K −22.4K shares	$44.3M 1.0M shares
B B.O.S.S. Retirement Advisors, LLC RIA/Wealth	−$379.3K −9.0K shares	$3.5M 83.8K shares
Lloyd Advisory Services, LLC. RIA/Wealth	−$316.1K −7.5K shares	$7.3M 173.6K shares
Capital Investment Advisory Services, LLC RIA/Wealth	−$297.2K −7.5K shares	Sold Off 0 shares
G Great Lakes Retirement, Inc. Institution	−$102.0K −2.4K shares	$1.2M 27.4K shares
HOWARD BAILEY SECURITIES, LLC RIA/Wealth	−$83.5K −2.0K shares	$1.7M 39.8K shares
Transce3nd, LLC RIA/Wealth	−$73.3K −1.8K shares	Sold Off 0 shares
Park Square Financial Group, LLC RIA/Wealth	−$66.4K −1.7K shares	Sold Off 0 shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$55.8K −1.3K shares	$367.8K 8.7K shares
Csenge Advisory Group RIA/Wealth	−$41.0K −968.0 shares	$476.5K 11.3K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SEPZ in Q3 2025

New Positions: 1
New Value: $71.0K
Exited Positions: 4
Exited Value: $439.9K

New Positions

Institution	Position Value
SRS Capital Advisors, Inc. RIA/Wealth	$71.0K 1.7K shares

Exited Positions

Institution	Previous Position
Capital Investment Advisory Services, LLC RIA/Wealth	$297.2K 7.5K shares
Transce3nd, LLC RIA/Wealth	$73.3K 1.8K shares
Park Square Financial Group, LLC RIA/Wealth	$66.4K 1.7K shares
Global Retirement Partners, LLC RIA/Wealth	$3.0K 76.0 shares

Options Activity

Institutions with the largest Call and Put options positions in SEPZ as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with SEPZ as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Lloyd Advisory Services, LLC. RIA/Wealth	Mark Alan Lloyd CEO	3.73% $7.3M	173.6K shares	Q2 2025 Held for 5 months	$196.9M
F FSR Wealth Management Ltd. Institution	-	3.04% $2.1M	50.1K shares	Q2 2025 Held for 5 months	$69.8M
T TrueMark Investments, LLC Institution	Michael Norman Loukas CEO	1.65% $9.5M	224.3K shares	Q1 2025 Held for 8 months	$574.7M
Family Wealth Group, LLC RIA/Wealth	Brian Keith Staples COO	1.06% $1.4M	32.8K shares	Q2 2025 Held for 5 months	$131.3M
B B.O.S.S. Retirement Advisors, LLC RIA/Wealth	Ryan Thacker Founder	0.88% $3.5M	83.8K shares	Q2 2025 Held for 5 months	$405.0M
SMART Wealth LLC RIA/Wealth	David Andrew Brooks CEO	0.79% $2.0M	46.9K shares	Q2 2025 Held for 5 months	$250.6M
L LifeWealth Investments, LLC Institution	-	0.78% $2.6M	61.5K shares	Q2 2025 Held for 5 months	$334.1M
W Weaver Consulting Group RIA/Wealth	Jason Michael Weaver Managing Partner	0.78% $3.0M	70.3K shares	Q3 2020 Held for 5y 2m	$382.8M
HOWARD BAILEY SECURITIES, LLC RIA/Wealth	Casey Bailey Weade CEO	0.70% $1.7M	39.8K shares	Q2 2025 Held for 5 months	$239.8M
Valtinson Bruner Financial Planning LLC RIA/Wealth	Lauris Devon Valtinson Managing Partner	0.66% $2.2M	52.5K shares	Q3 2021 Held for 4y 2m	$336.1M