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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.

New
Increased
Maintained
Reduced
Closed

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

Holders
37
Holders Change
-2
Holders Change %
-5.13%
% of All Funds
0.45%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
4
Increased
8
Reduced
22
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Stifel Financial
Stifel Financial
Missouri
+$647K
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$519K
3
LC
Luminist Capital
Michigan
+$326K
4
NB
Nicolet Bankshares
Wisconsin
+$147K
5
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
+$104K

Top Sellers

1
AA
Armis Advisers
Georgia
-$13.2M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$2.26M
3
EH
Equitable Holdings
New York
-$747K
4
LPT
Legacy Private Trust
Wisconsin
-$497K
5
FA
Fiduciary Alliance
South Carolina
-$258K
Name Holding Trade Value Shares
Change 		Change in
Stake
AA
1
Armis Advisers
Georgia
$87.9M -$13.2M -250,495 -13%
Envestnet Asset Management
2
Envestnet Asset Management
Illinois
$13.3M -$2.26M -42,834 -15%
Raymond James Financial
3
Raymond James Financial
Florida
$10.1M -$237K -4,486 -2%
JP Morgan Chase
4
JP Morgan Chase
New York
$4.77M -$182K -3,448 -4%
LPT
5
Legacy Private Trust
Wisconsin
$4.53M -$497K -9,401 -10%
Royal Bank of Canada
6
Royal Bank of Canada
Ontario, Canada
$3.55M -$122K -2,309 -3%
EWM
7
Evolution Wealth Management
Florida
$2.3M -$93.7K -1,775 -4%
Janney Montgomery Scott
8
Janney Montgomery Scott
Pennsylvania
$2.02M +$104K +1,969 +5%
SAM
9
Smartleaf Asset Management
Massachusetts
$1.9M -$5.12K -97 -0.3%
PAG
10
Private Advisor Group
New Jersey
$1.88M +$792 +15 +0%
JWWM
11
Johnson & White Wealth Management
Pennsylvania
$1.76M -$60.8K -1,152 -3%
EH
12
Equitable Holdings
New York
$1.46M -$747K -14,146 -34%
HH
13
Hilltop Holdings
Texas
$896K -$24K -454 -3%
BCI
14
Brinker Capital Investments
Pennsylvania
$686K +$17.9K +339 +3%
NS
15
NBC Securities
Alabama
$670K -$44.2K -836 -6%
Stifel Financial
16
Stifel Financial
Missouri
$652K +$647K +12,250 New
RFG
17
REAP Financial Group
Texas
$617K -$7.66K -145 -1%
OA
18
Oasis Advisors
Iowa
$563K +$558K +10,573 New
Susquehanna International Group
19
Susquehanna International Group
Pennsylvania
$523K +$519K +9,834 New
AWM
20
AE Wealth Management
Kansas
$516K -$45.1K -854 -8%
WC
21
Waterloo Capital
Texas
$486K -$17K -321 -3%
LC
22
Luminist Capital
Michigan
$470K +$326K +6,174 +233%
Osaic Holdings
23
Osaic Holdings
Arizona
$459K +$2.01K +38 +0.4%
NB
24
Nicolet Bankshares
Wisconsin
$383K +$147K +2,775 +63%
LPL Financial
25
LPL Financial
California
$383K +$93.5K +1,771 +33%
1
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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.