Vault-13

FLEXSHARES TR TDTT

IBOXX 3R TARGT · ETP · CUSIP 33939L506

104 institutional holders +0 vs Q1 2025
104,574,000104.6m shares reported held*
$2.5bnreported value*
14 new 36 added 36 reduced 14 sold out net bought ≈ $237.8m (+9.8m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($606.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $24.24. Options: 1 managers hold calls ($0 notional), 0 hold puts (—).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 119Q4 22: 122Q1 23: 123Q2 23: 114Q3 23: 107Q4 23: 106Q1 24: 95Q2 24: 108Q3 24: 97Q4 24: 103Q1 25: 104Q2 25: 104104Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022119
Q4 2022122
Q1 2023123
Q2 2023114
Q3 2023107
Q4 2023106
Q1 202495
Q2 2024108
Q3 202497
Q4 2024103
Q1 2025104
Q2 2025104

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 34 bought or addedQ3 23: 67 cut or sold outQ4 23: 33 bought or addedQ4 23: 70 cut or sold outQ4 23Q1 24: 33 bought or addedQ1 24: 63 cut or sold outQ2 24: 42 bought or addedQ2 24: 52 cut or sold outQ2 24Q3 24: 33 bought or addedQ3 24: 62 cut or sold outQ4 24: 48 bought or addedQ4 24: 41 cut or sold outQ4 24Q1 25: 57 bought or addedQ1 25: 41 cut or sold outQ2 25: 50 bought or addedQ2 25: 50 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20233467
Q4 20233370
Q1 20243363
Q2 20244252
Q3 20243362
Q4 20244841
Q1 20255741
Q2 20255050

Biggest buyers

NORTHERN TRUST CORP Added +9,323,918+9.3m
WELLS FARGO & COMPANY/MN Added +709,181+709.2k
One Capital Management, LLC New +101,509+101.5k
Focus Partners Wealth New +47,398+47.4k
VeraBank, N.A. Added +44,962+45.0k
Boltwood Capital Management Added +40,448+40.4k
Bell Investment Advisors, Inc Added +39,786+39.8k
FLOW TRADERS U.S. LLC New +32,877+32.9k
PARK NATIONAL CORP /OH/ Added +20,867+20.9k
WHITTIER TRUST CO New +19,974+20.0k

Biggest sellers

Cornerstone National Bank & Trust Co Reduced -188,560-188.6k
ROYAL BANK OF CANADA Reduced -90,077-90.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -77,809-77.8k
JANE STREET GROUP, LLC Reduced -53,493-53.5k
MORGAN STANLEY Reduced -40,088-40.1k
Delos Wealth Advisors, LLC Reduced -38,532-38.5k
CITADEL ADVISORS LLC Reduced -37,456-37.5k
HRT FINANCIAL LP Sold out -23,923-23.9k
Klingman & Associates, LLC Reduced -20,014-20.0k
OLD MISSION CAPITAL LLC Sold out -19,317-19.3k

Biggest calls

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

None

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 NORTHERN TRUST CORP 0.31% of their portfolio CHICAGO, IL 92,737,60692.7m $2.2bn $2.2bn 0.31% Added +9.3m +9,323,918
2 Bell Investment Advisors, Inc 7.59% of their portfolio ORINDA, CA 1,820,7151.8m $44.1m $44.1m 7.59% Added +39.8k +39,786
3 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 1,474,5591.5m $35.7m $35.7m 0.01% Added +19.5k +19,540
4 WEST PACES ADVISORS INC. 5.97% of their portfolio ATLANTA, GA 1,157,6681.2m $28.1m $28.1m 5.97% Added +4.5k +4,499
5 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 934,247934.2k $22.6m $22.6m 0.00% Added +709.2k +709,181
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 705,507705.5k $17.1m $17.1m 0.00% Reduced -40.1k -40,088
7 Boltwood Capital Management 4.71% of their portfolio WALNUT CREEK, CA 683,782683.8k $16.6m $16.6m 4.71% Added +40.4k +40,448
8 MML INVESTORS SERVICES, LLC 0.04% of their portfolio SPRINGFIELD, MA 532,731532.7k $12.9m $12.9m 0.04% Added +18.9k +18,927
9 Valmark Advisers, Inc. 0.17% of their portfolio AKRON, OH 512,356512.4k $12.4m $12.4m 0.17% Added +3.5k +3,516
10 5th Street Advisors, LLC 5.77% of their portfolio Southport, CT 479,594479.6k $11.6m $11.6m 5.77% Reduced -8.1k -8,108
11 VeraBank, N.A. 2.05% of their portfolio HENDERSON, TX 421,149421.1k $10.2m $10.2m 2.05% Added +45.0k +44,962
12 HORIZON BANCORP INC /IN/ 3.95% of their portfolio MICHIGAN CITY, IN 323,599323.6k $7.8m $7.8m 3.95% Reduced -6.4k -6,444
13 Klingman & Associates, LLC 0.38% of their portfolio New York, NY 284,315284.3k $6.9m $6.9m 0.38% Reduced -20.0k -20,014
14 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 177,939177.9k $4.3m $4.3m 0.00% Added +167 +167
15 LAKE STREET PRIVATE WEALTH, LLC 0.57% of their portfolio CHICAGO, IL 164,204164.2k $4.0m $4.0m 0.57% Added +9.3k +9,335
16 Delos Wealth Advisors, LLC 2.91% of their portfolio DALLAS, TX 153,716153.7k $3.7m $3.7m 2.91% Reduced -38.5k -38,532
17 PARK NATIONAL CORP /OH/ 0.11% of their portfolio NEWARK, OH 132,207132.2k $3.2m $3.2m 0.11% Added +20.9k +20,867
18 Burt Wealth Advisors 0.70% of their portfolio North Bethesda, MD 126,836126.8k $3.1m $3.1m 0.70% Reduced -1.8k -1,766
19 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 126,706126.7k $3.1m $3.1m 0.00% Reduced -37.5k -37,456
20 One Capital Management, LLC 0.09% of their portfolio WESTLAKE VILLAGE, CA 101,509101.5k $2.5m $2.5m 0.09% New
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 99,958100.0k $2.4m $2.4m 0.00% Added +11.7k +11,650
22 Cornerstone National Bank & Trust Co 1.04% of their portfolio PALATINE, IL 99,72899.7k $2.4m $2.4m 1.04% Reduced -188.6k -188,560
23 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 99,55199.6k $2.4m $2.4m 0.00% Reduced -7.2k -7,172
24 IFG Advisory, LLC 0.11% of their portfolio ATLANTA, GA 88,10788.1k $2.1m $2.1m 0.11% Reduced -2.1k -2,091
25 VestGen Investment Management 1.09% of their portfolio EGG HARBOR TOWNSHIP, NJ 62,67362.7k $1.5m $1.5m 1.09% Reduced -5.5k -5,529
26 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 47,39847.4k $1.1m $1.1m 0.00% New
27 TIEMANN INVESTMENT ADVISORS, LLC 0.46% of their portfolio MENLO PARK, CA 46,38746.4k $1.1m $1.1m 0.46% Added +5.5k +5,471
28 F/m Investments LLC 0.04% of their portfolio WASHINGTON, DC 45,54145.5k $1.1m $1.1m 0.04% Added +14.0k +14,013
29 Mutual Advisors, LLC 0.02% of their portfolio OMAHA, NE 40,54040.5k $981.9k $981.9k 0.02% Added +2.4k +2,423
30 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 38,90738.9k $943.1k $943.1k 0.00% Reduced -3.5k -3,476
31 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 38,79238.8k $940.3k $940.3k 0.00% Reduced -53.5k -53,493
32 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 35,48535.5k $860.1k $860.1k 0.00% Reduced -633 -633
33 Lynx Investment Advisory 0.52% of their portfolio WASHINGTON, DC, DC 33,13233.1k $803.1k $803.1k 0.52% Added +320 +320
34 FLOW TRADERS U.S. LLC 0.03% of their portfolio NEW YORK, NY 32,87732.9k $797.0k $797.0k 0.03% New
35 MONECO ADVISORS, LLC 0.07% of their portfolio FAIRFIELD, CT 32,35732.4k $784.3k $784.3k 0.07% Added +1.2k +1,222
36 Granite Harbor Advisors, Inc. 0.36% of their portfolio Houston, TX 31,80831.8k $771.0k $771.0k 0.36% Reduced -3.1k -3,123
37 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 31,51231.5k $764.0k $764.0k 0.00% Reduced -2.3k -2,308
38 Empirical Asset Management, LLC 0.23% of their portfolio WELLESLEY, MA 31,32631.3k $759.3k $759.3k 0.23% Added +690 +690
39 Trace Wealth Advisors, LLC 0.59% of their portfolio Los Angeles, CA 29,72629.7k $720.6k $720.6k 0.59% Unchanged
40 Freedom Investment Management, Inc. 0.05% of their portfolio SOUTH WINDSOR, CT 27,97628.0k $678.1k $678.1k 0.05% Added +1.4k +1,440
41 INTERACTIVE FINANCIAL ADVISORS, INC. 0.32% of their portfolio New Lenox, IL 27,42327.4k $664.8k $664.8k 0.32% Reduced -13 -13
42 Dorsey & Whitney Trust CO LLC 0.03% of their portfolio SIOUX FALLS, SD 26,65326.7k $646.1k $646.1k 0.03% Added +5.0k +5,000
43 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 25,43925.4k $616.7k $616.7k 0.00% Added +5.3k +5,334
44 FFT WEALTH MANAGEMENT LLC 0.12% of their portfolio PHILADELPHIA, PA 25,40025.4k $616.3k $616.3k 0.12% Added +2.1k +2,063
45 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 23,93023.9k $580.0k $580.0k 0.00% Reduced -9.9k -9,932
46 UBS Group AG 0.00% of their portfolio ZURICH, V8 22,60022.6k $547.8k $547.8k 0.00% Added +12.0k +11,983
47 WHITTIER TRUST CO 0.01% of their portfolio SOUTH PASADENA, CA 19,97420.0k $484.0k $484.0k 0.01% New
48 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 18,76518.8k $454.9k $454.9k 0.00% Added +2.7k +2,719
49 Cherry Tree Wealth Management, LLC 0.10% of their portfolio MINNETONKA, MN 17,45217.5k $423.0k $423.0k 0.10% Unchanged
50 WEDBUSH SECURITIES INC 0.01% of their portfolio PASADENA, CA 16,82216.8k $408.0k $408.0k 0.01% Unchanged
51 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 16,37116.4k $396.0k $396.0k 0.01% Unchanged
52 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 16,33316.3k $395.9k $395.9k 0.00% Reduced -8.3k -8,270
53 M.E. ALLISON & CO., INC. 0.31% of their portfolio SAN ANTONIO, TX 15,81515.8k $383.4k $383.4k 0.31% Reduced -157 -157
54 Holcombe Financial, Inc. 0.28% of their portfolio ATLANTA, GA 15,39715.4k $373.2k $373.2k 0.28% Added +2.1k +2,123
55 ABSOLUTE CAPITAL MANAGEMENT, LLC 0.18% of their portfolio Pittsburgh, PA 15,05115.1k $364.8k $364.8k 0.18% Reduced -714 -714
56 CHOREO, LLC 0.01% of their portfolio ROCKFORD, IL 15,00015.0k $363.6k $363.6k 0.01% Unchanged
57 CoreCap Advisors, LLC 0.01% of their portfolio SOUTHFIELD, MI 14,65514.7k $355.2k $355.2k 0.01% Added +1.0k +1,020
58 Dynamic Advisor Solutions LLC 0.01% of their portfolio PHOENIX, AZ 14,62214.6k $354.4k $354.4k 0.01% Reduced -7.5k -7,517
59 Archer Investment Corp 0.08% of their portfolio Carmel, IN 14,34814.3k $347.8k $347.8k 0.08% Unchanged
60 AWM CAPITAL, LLC 0.03% of their portfolio Phoenix, AZ 13,04213.0k $316.1k $316.1k 0.03% Added +198 +198
61 Wealthspire Advisors, LLC 0.00% of their portfolio NEW YORK, NY 12,63412.6k $306.2k $306.2k 0.00% New
62 CERTUITY, LLC 0.03% of their portfolio NORTH PALM BEACH, FL 12,60012.6k $305.4k $305.4k 0.03% Unchanged
63 Focus Financial Network, Inc. 0.01% of their portfolio MINNEAPOLIS, MN 11,23411.2k $272.3k $272.3k 0.01% Added +152 +152
64 Kovack Advisors, Inc. 0.03% of their portfolio FT. LAUDERDALE, FL 11,00011.0k $266.6k $266.6k 0.03% Reduced -3.0k -3,000
65 AMERICAN NATIONAL BANK & TRUST 0.03% of their portfolio WICHITA FALLS, TX 10,75410.8k $260.7k $260.7k 0.03% New
66 Forza Wealth Management, LLC 0.10% of their portfolio SARASOTA, FL 10,00010.0k $242.4k $242.4k 0.10% Reduced -4.0k -4,000
67 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 9,8999.9k $240.0k $240.0k 0.00% Unchanged
68 Concurrent Investment Advisors, LLC 0.00% of their portfolio Tampa, FL 9,5399.5k $231.2k $231.2k 0.00% New
69 GREENLEAF TRUST 0.00% of their portfolio KALAMAZOO, MI 9,3289.3k $226.1k $226.1k 0.00% Reduced -823 -823
70 Gerber Kawasaki Wealth & Investment Management 0.01% of their portfolio SANTA MONICA, CA 8,5448.5k $207.1k $207.1k 0.01% Reduced -551 -551
71 Smartleaf Asset Management LLC 0.02% of their portfolio BOSTON, MA 7,8157.8k $189.1k $189.1k 0.02% New
72 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 7,4207.4k $180.0k $180.0k 0.00% Reduced -90.1k -90,077
73 COMERICA BANK 0.00% of their portfolio DALLAS, TX 6,4286.4k $155.8k $155.8k 0.00% Added +3.4k +3,428
74 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 6,0826.1k $147.4k $147.4k 0.00% Added +1.3k +1,345
75 CENTAURUS FINANCIAL, INC. 0.01% of their portfolio ANAHEIM, CA 5,3335.3k $129.0k $129.0k 0.01% Reduced -697 -697
76 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 5,2515.3k $127.3k $127.3k 0.00% Reduced -475 -475
77 MORGAN DEMPSEY CAPITAL MANAGEMENT LLC 0.05% of their portfolio MILWAUKEE, WI 4,9264.9k $119.4k $119.4k 0.05% New
78 Caldwell Trust Co 0.01% of their portfolio Venice, FL 4,1744.2k $101.2k $101.2k 0.01% Reduced -10.6k -10,600
79 BOKF, NA 0.00% of their portfolio TULSA, OK 3,9493.9k $95.7k $95.7k 0.00% Reduced -2.0k -2,032
80 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 3,3583.4k $81.4k $81.4k 0.00% Unchanged
81 Wilmington Savings Fund Society, FSB 0.00% of their portfolio WILMINGTON, DE 2,7372.7k $66.3k $66.3k 0.00% Added +2.4k +2,401
82 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 2,2412.2k $54.3k $54.3k 0.00% Added +559 +559
83 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 1,5891.6k $38.5k $38.5k 0.00% Reduced -841 -841
84 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 1,5781.6k $38.2k $38.2k 0.00% Reduced -1.1k -1,079
85 GABLES CAPITAL MANAGEMENT INC. 0.02% of their portfolio MIAMI, FL 1,5021.5k $36.4k $36.4k 0.02% New
86 MARQUETTE ASSOCIATES, INC. 0.03% of their portfolio CHICAGO, IL 1,4471.4k $35.1k $35.1k 0.03% Reduced -78 -78
87 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 1,3951.4k $33.8k $33.8k 0.00% Reduced -148 -148
88 Beacon Capital Management, LLC 0.00% of their portfolio FRANKLIN, TN 1,0321.0k $25.0k $25.0k 0.00% New
89 PRINCIPAL SECURITIES, INC. 0.00% of their portfolio DES MOINES, IA 1,0001.0k $24.2k $24.2k 0.00% Unchanged
90 Hemington Wealth Management 0.00% of their portfolio FALLS CHURCH, VA 896896 $21.0k $21.0k 0.00% New
91 CWM, LLC 0.00% of their portfolio OMAHA, NE 851851 $21.0k $21.0k 0.00% Unchanged
92 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 495495 $12.0k $12.0k 0.00% Added +146 +146
93 Key Financial Inc 0.00% of their portfolio WEST CHESTER, PA 481481 $11.7k $11.7k 0.00% Unchanged
94 Bank of New Hampshire 0.00% of their portfolio LACONIA, NH 435435 $10.5k $10.5k 0.00% Unchanged
95 FMR LLC 0.00% of their portfolio BOSTON, MA 337337 $8.2k $8.2k 0.00% Unchanged
96 Activest Wealth Management 0.00% of their portfolio AVENTURA, FL 323323 $7.8k $7.8k 0.00% Added +5 +5
97 TRUST CO OF VERMONT 0.00% of their portfolio BRATTLEBORO, VT 197197 $4.8k $4.8k 0.00% New
98 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 109109 $2.6k $2.6k 0.00% Reduced -1.9k -1,896
99 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 102102 $2.5k $2.5k 0.00% Added +78 +78
100 UNION SAVINGS BANK 0.00% of their portfolio LITCHFIELD, CT 8181 $2.0k $2.0k 0.00% Unchanged