GRANITESHARES ETF TR

The holders split between advisory and market-making. Essex LLC ($1.4M) is the largest, with market-maker Optiver Holding ($1.1M) and Mirae Asset Securities ($622K) behind — Optiver's presence being liquidity provision rather than conviction. The small absolute dollars confirm limited adoption.

For readers, NBIL's 13F profile is a niche-ETF one: a handful of holders, a mix of a small RIA and trading firms, and no meaningful conviction signal. The record reflects early or limited uptake of the product rather than institutional interest in any underlying name.