GOLDMAN SACHS ETF TR

Last quarter's institutional story in Goldman Sachs ETF Trust's GPIQ was essentially one-way RIA accumulation; this quarter's posture is still buyer-led but no longer unanimous. Wealth Enhancement Advisory Services remains the anchor at $29.6 million — about 34% of the $86 million tracked across 41 holders — yet most of its $4.8 million dollar-value gain is mark-to-market on a modest ~$564k share-flow add. Cannon Advisors is the largest true buyer by flow (~$2.5 million), while CoreCap Advisors and CWA Asset Management show the first meaningful share-flow selling (about $467k and $257k out). Reyes Financial Architecture appears as a new ~$5.5 million fifth-largest holder. The contrast: same wealth-channel product, slightly less one-sided sponsorship.