Which RIAs Own the Most Private Credit ETFs?

Which RIAs Own the Most Private Credit ETFs?
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Data sourced from Dakota Marketplace, the global LP and GP intelligence platform trusted by thousands of investment professionals. Learn More | Book a Demo

Gradient Investments holds $26.2 million in the BondBloxx Private Credit CLO ETF (PCMM), more than twice the position of any other registered investment adviser in our data. Below Gradient, positions drop quickly, and most RIA holdings of private credit ETFs sit below $5 million.

To build this list, we reviewed the most recent 13F filings tracked in Dakota Marketplace and ranked RIAs by their total holdings of ETFs focused on private credit and CLOs.

The Top 10

Rank

RIA

ETF Holdings

Approx. Position

1

Gradient Investments

PCMM

$26.2m

2

Carrera Capital Advisors

PCMM

$11.6m

3

&Partners

PCMM

$7.0m

4

Farther

ACLO, PCMM

$6.7m

5

NewEdge Wealth

PCMM

$4.6m

6

Northland Capital Management

PCMM

$4.6m

7

Impact Partnership Wealth

PCMM

$4.0m

8

Foundations Investment Advisors

PCMM

$3.6m

9

Compound Planning

PCMM

$3.2m

10

Inspire Advisors

PCMM, PCLO

$3.1m

What the Data Shows

One product dominates

Nine of the ten firms hold PCMM, and for most of them it is their only private credit ETF position. RIAs appear to prefer CLO-based structures as their entry point into private credit.

Adoption is concentrated

The top three firms account for more than half the combined holdings of the top ten. Beyond this list, most positions are under $1 million, which suggests many RIAs are still testing the category rather than committing to it.

Early adopters are identifiable

Firms that already hold private credit ETFs have shown a willingness to allocate to the asset class. For investment firms raising private credit, interval, or semi-liquid funds, these RIAs are a logical place to start outreach.

Book a demo to learn more about RIA allocation behavior.

Peter Harris, Investment Research Associate

Written By: Peter Harris, Investment Research Associate