The PNC Financial Services Group, Inc. filed Amendment No. 3 to Schedule 13G on November 6, 2026, reporting beneficial ownership of shares in the Avantis US Large Cap Value ETF as of September 30, 2026.

Key Highlights

  • Aggregate beneficial ownership: PNC reported beneficial ownership of 20,468,320 shares of the Avantis US Large Cap Value ETF (CUSIP 025072349).
  • Percent of class: The 20,468,320 shares represent 8.68% of the ETF's outstanding shares, according to the filing.
  • Voting power: PNC disclosed sole voting power over 12,918,469 shares and shared voting power over 7,483,320 shares.
  • Dispositive power: PNC reported sole dispositive power over 20,041,296 shares and shared dispositive power over 426,856 shares.
  • Fiduciary capacity: The filing states that the shares are held in a fiduciary capacity for clients across four subsidiaries: PNC Bank, National Association; PNC Delaware Trust Company; PNC Ohio Trust Company; and PNC Wealth Management LLC.
  • Event date: The date of the event requiring the filing was September 30, 2026.

PNC's Subsidiary Holdings in Avantis US Large Cap Value ETF

According to the filing, The PNC Financial Services Group, Inc., organized in Pennsylvania and headquartered at 300 Fifth Avenue, Pittsburgh, PA 15222-2401, submitted Amendment No. 3 to Schedule 13G with respect to the Avantis US Large Cap Value ETF, an exchange-traded fund managed under the American Century ETF Trust at 4500 Main Street, Kansas City, MO 64111. PNC filed as a parent holding company or control person under Item 3(g) of the schedule.

The filing identifies four subsidiaries through which the reported shares are held, all in a fiduciary capacity for clients. PNC Bank, National Association holds 12,878,082 shares; PNC Delaware Trust Company holds 31,816 shares; PNC Ohio Trust Company holds 42,927 shares; and PNC Wealth Management LLC holds 7,515,495 shares. Each subsidiary is classified either as a bank (BK) or a broker-dealer (BD), with PNC Wealth Management LLC carrying the BD classification and the three trust entities classified as BK.

The filing's certification states that "the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities." The statement was signed by Gregory H. Kozich, Senior Vice President and Controller of The PNC Financial Services Group, Inc., and dated November 6, 2026.

What Was Disclosed

The PNC Financial Services Group, Inc. filed Amendment No. 3 to Schedule 13G disclosing beneficial ownership of 20,468,320 shares, or 8.68%, of the Avantis US Large Cap Value ETF as of September 30, 2026, held through four subsidiaries in a fiduciary capacity for clients.