Overlay Shares Large Cap Equity ETF
OVL
37 hedge funds and large institutions have $145M invested in Overlay Shares Large Cap Equity ETF in 2025 Q4 according to their latest regulatory filings, with 4 funds opening new positions, 8 increasing their positions, 22 reducing their positions, and 5 closing their positions.
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
5% less funds holding
Funds holding: 39 → 37 (-2)
10.54% less ownership
Funds ownership: 92.15% → 81.61% (-11%)
13% less capital invested
Capital invested by funds: $165M → $145M (-$20.8M)
20% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 5
64% less repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 22
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Stifel Financial
St. Louis,
Missouri
|
+$647K |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$519K |
| 3 |
LC
Luminist Capital
Grand Rapids,
Michigan
|
+$326K |
| 4 |
NB
Nicolet Bankshares
Green Bay,
Wisconsin
|
+$147K |
| 5 |
Janney Montgomery Scott
Philadelphia,
Pennsylvania
|
+$104K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AA
Armis Advisers
Atlanta,
Georgia
|
-$13.2M |
| 2 |
Envestnet Asset Management
Chicago,
Illinois
|
-$2.26M |
| 3 |
EH
Equitable Holdings
New York
|
-$747K |
| 4 |
LPT
Legacy Private Trust
Neenah,
Wisconsin
|
-$497K |
| 5 |
FA
Fiduciary Alliance
Greenville,
South Carolina
|
-$258K |
OVL Hedge Fund Activity: Q4 2025 in Review
37 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Overlay Shares Large Cap Equity ETF (OVL) for Q4 2025, worth a combined $145M — down 13% from $165M a quarter earlier.
Sellers outnumbered buyers: 5 funds closed out of OVL and 4 opened new positions — a net loss of 1 holder — while 22 trimmed existing stakes and 8 added.
The largest buyer was Stifel Financial, opening a new position worth an estimated $647K. The largest seller was Armis Advisers, cutting an estimated $13.2M.
- 37 institutional investors held Overlay Shares Large Cap Equity ETF (OVL) as of Q4 2025, down from 39 in Q3 2025.
- Funds reported $145M of Overlay Shares Large Cap Equity ETF stock for Q4 2025, down 13% quarter-over-quarter.
- 4 funds opened new Overlay Shares Large Cap Equity ETF positions in Q4 2025 and 5 closed out, a net change of -1 holder.
- The largest Overlay Shares Large Cap Equity ETF buyer in Q4 2025 was Stifel Financial, an estimated $647K added.
- The largest Overlay Shares Large Cap Equity ETF seller in Q4 2025 was Armis Advisers, an estimated $13.2M sold.
Based on aggregated 13F filings for Q4 2025.