SCHEDULE: PNC Financial Boosts Stake in Global X Social Media ETF

The PNC Financial Services Group, Inc. reports an increased beneficial ownership of 7.97% in the Global X Social Media Index ETF as of September 30, 2025.

Summary

• The PNC Financial Services Group, Inc. (PNC) has filed an Amendment No. 7 to Schedule 13G, disclosing its beneficial ownership in the Global X Social Media Index ETF.
• PNC beneficially owns an aggregate of 212,018 shares of the Exchange-Traded Fund.
• This ownership represents 7.97% of the class of securities.
• PNC holds sole voting power over 210,916 shares and shared voting power over 0 shares.
• PNC holds sole dispositive power over 177,857 shares and shared dispositive power over 34,161 shares.
• The shares are held in a fiduciary capacity for clients by PNC's subsidiaries: PNC Bank, National Association (211,282 shares), PNC Delaware Trust Company (537 shares), and PNC Ohio Trust Company (199 shares).

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. It's a routine disclosure of a significant, passive institutional holding, which is generally a positive sign of institutional confidence in the underlying asset class, but it doesn't provide new performance-related information about the issuer.

Positives

• PNC Financial Services Group, Inc. maintains a significant, yet passive, investment in the Global X Social Media Index ETF, indicating confidence in the underlying asset class for its clients.
• The filing confirms that the securities are held in the ordinary course of business and not for the purpose of influencing control, aligning with standard institutional investment practices.

Negatives

• No specific negative information regarding the issuer or the reporting person's investment strategy is disclosed in this Schedule 13G filing.

Risks

• The reporting person certifies that the securities were not acquired or held for the purpose of or with the effect of changing or influencing the control of the issuer, mitigating risks associated with activist investing.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the issuer's or reporting person's future financial performance or strategic plans, as it is a disclosure of current ownership.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, 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 and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing reflects routine institutional investment activity, where a large financial services group like PNC holds a significant, passive stake in an Exchange-Traded Fund (ETF) on behalf of its clients. Such holdings are common for diversified portfolios managed by banks and trust companies, indicating continued institutional interest in thematic ETFs like those tracking the social media sector.

Comparison to Industry Standards

• PNC's beneficial ownership of 7.97% in the Global X Social Media Index ETF is a substantial stake, typical for large institutional investors managing client assets. This level of ownership is common for passive investment strategies where the goal is exposure to a market segment rather than active control.
• The holding of shares in a fiduciary capacity through subsidiaries like PNC Bank, National Association, PNC Delaware Trust Company, and PNC Ohio Trust Company is a standard practice for diversified financial services groups, ensuring compliance and client asset segregation.

Stakeholder Impact

• **Shareholders of Global X Social Media Index ETF:** The continued significant institutional ownership by PNC may be viewed positively, indicating a stable base of passive investment in the ETF.
• **Clients of PNC Financial Services Group, Inc.:** The filing confirms that PNC is managing client assets by investing in the ETF in a fiduciary capacity, aligning with their investment mandates.

Next Steps

• PNC Financial Services Group, Inc. will continue to monitor its beneficial ownership in the Global X Social Media Index ETF and file further amendments to Schedule 13G as required by SEC regulations if its ownership percentage changes significantly.

Key Dates

Keywords

Global X Social Media Index ETF, PNC Financial Services Group, Schedule 13G, Beneficial Ownership, ETF, Social Media, Institutional Investor, Passive Investment