Wahed Dow Jones Islamic World ETF

UMMA • NASDAQ

Wahed Dow Jones Islamic World ETF is an exchange-traded fund on NASDAQ. As of Q3 2025, 30 institutional investors hold shares in this ETF, with total holdings valued at $22.4M. RFG Advisory Group, LLC is the largest holder with a position valued at $6.0M.

Overview

Overview of institutional ownership in UMMA as of Q3 2025

All Institutions

Institutions: 30
Value Held: $22.4M
Shares Held: 810.3K
Avg Position: $746.5K
Median Position: $260.7K

Hedge Funds

Hedge Funds: 1
Value Held: $1.3M
Shares Held: 46.7K
Avg Position: $1.3M
Median Position: $1.3M

Biggest Investors

Institutions with the largest positions in UMMA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
RFG Advisory Group, LLC RIA/Wealth	Shannon Parrott Spotswood CEO	$6.0M 0.19% of portfolio	216.0K shares	Q2 2024 Held for 1y 5m	$3.1B
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	Charles David Welling CEO	$2.0M 0.00% of portfolio	73.1K shares	Q1 2024 Held for 1y 8m	$59.9B
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	James Loren Cahn Chairman	$1.9M 0.00% of portfolio	67.6K shares	Q4 2023 Held for 1y 11m	$65.5B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$1.8M 0.00% of portfolio	65.1K shares	Q3 2025 Held for 2 months	$691.34B
J JANE STREET GROUP, LLC Institution	-	$1.7M 0.00% of portfolio	62.5K shares	Q4 2023 Held for 1y 11m	$84.1B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$1.5M 0.00% of portfolio	52.9K shares	Q4 2023 Held for 1y 11m	$67.9B
Empirical Financial Services, LLC RIA/Wealth	Kenneth Robert Smith CEO	$1.3M 0.03% of portfolio	48.3K shares	Q1 2023 Held for 2y 8m	$5.0B
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$1.3M 0.00% of portfolio	46.7K shares	Q1 2025 Held for 8 months	$122.08B
Apollon Wealth Management, LLC RIA/Wealth	Michael Jason Dolberg CEO	$789.2K 0.01% of portfolio	28.6K shares	Q4 2022 Held for 2y 11m	$5.6B
SageOak Financial, LLC RIA/Wealth	Stan Ray Rickner President	$723.9K 0.54% of portfolio	26.3K shares	Q4 2024 Held for 11 months	$133.5M

Net Capital Flow

Institutional buying and selling activity for UMMA in Q3 2025

Traded: +$6.7M
Buyers: 26
Sellers: 3
Total Bought: +$8.8M
Total Sold: −$2.1M
Avg Position: $699.8K

Biggest Buyers

Institution	Net Bought	Current Position
GOLDMAN SACHS GROUP INC Institution	+$1.8M +65.1K shares	$1.8M 65.1K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$1.5M +52.9K shares	$1.5M 52.9K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$1.3M +46.7K shares	$1.3M 46.7K shares
J JANE STREET GROUP, LLC Institution	+$1.3M +45.5K shares	$1.7M 62.5K shares
RFG Advisory Group, LLC RIA/Wealth	+$1.1M +38.3K shares	$6.0M 216.0K shares
Apollon Wealth Management, LLC RIA/Wealth	+$789.2K +28.6K shares	$789.2K 28.6K shares
BANK OF AMERICA CORP /DE/ Institution	+$346.7K +12.6K shares	$346.7K 12.6K shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$241.0K +8.7K shares	$2.0M 73.1K shares
R ROYAL BANK OF CANADA Institution	+$143.9K +5.2K shares	$361.5K 13.1K shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	+$127.9K +4.5K shares	$1.9M 67.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$1.7M −62.8K shares	$257.5K 9.3K shares
T TWO SIGMA SECURITIES, LLC Institution	−$328.3K −12.3K shares	Sold Off 0 shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$5.0K −186.0 shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 3
New Value: $2.2M
Exited Positions: 2
Exited Value: $333.3K

New Positions

Institution	Position Value
GOLDMAN SACHS GROUP INC Institution	$1.8M 65.1K shares
BANK OF AMERICA CORP /DE/ Institution	$346.7K 12.6K shares
Pacific Center for Financial Services Real Assets	$25.3K 919.0 shares

Exited Positions

Institution	Previous Position
T TWO SIGMA SECURITIES, LLC Institution	$328.3K 12.3K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$5.0K 186.0 shares

Options Activity

Institutions with the largest Call and Put options positions in UMMA 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 UMMA as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
SageOak Financial, LLC RIA/Wealth	Stan Ray Rickner President	0.54% $723.9K	26.3K shares	Q4 2024 Held for 11 months	$133.5M
RFG Advisory Group, LLC RIA/Wealth	Shannon Parrott Spotswood CEO	0.19% $6.0M	216.0K shares	Q2 2024 Held for 1y 5m	$3.1B
C Courage Miller Partners, LLC RIA/Wealth	Jeffrey Samuel Miller Managing Partner	0.08% $260.9K	9.5K shares	Q3 2024 Held for 1y 2m	$333.5M
Vishria Bird Financial Group, LLC RIA/Wealth	Susan Fisher Todd CCO	0.04% $222.0K	8.1K shares	Q2 2025 Held for 5 months	$499.3M
IFG Advisors, LLC RIA/Wealth	Warner Edward Isaacs President	0.04% $253.3K	9.2K shares	Q2 2022 Held for 3y 5m	$612.9M
S Strengthening Families & Communities, LLC Institution	-	0.03% $152.8K	5.5K shares	Q1 2025 Held for 8 months	$444.6M
Empirical Financial Services, LLC RIA/Wealth	Kenneth Robert Smith CEO	0.03% $1.3M	48.3K shares	Q1 2023 Held for 2y 8m	$5.0B
Providence Capital Advisors, LLC RIA/Wealth	Thomas Michael Searson CIO	0.02% $111.4K	4.0K shares	Q2 2025 Held for 5 months	$577.4M
Y Y.D. More Investments Ltd Institution	-	0.01% $260.4K	9.5K shares	Q4 2022 Held for 2y 11m	$1.7B
Apollon Wealth Management, LLC RIA/Wealth	Michael Jason Dolberg CEO	0.01% $789.2K	28.6K shares	Q4 2022 Held for 2y 11m	$5.6B

Hedge Fund Spotlight

Discover hedge funds investing in UMMA

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Wahed Dow Jones Islamic World ETF

Market Value: $1.3M
Shares Held: 46.7K
Portfolio Weight: 0.00%
Owned Since: 2025-Q1

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%