Vault-13

ISHARES TR TIP

TIPS BD ETF · ETP · CUSIP 464287176 · ISIN US4642871762

1,012 institutional holders +45 vs Q3 2025
81,092,70481.1m shares reported held*
$8.8bnreported value*
75 new 352 added 355 reduced 75 sold out net sold ≈ $46.8m (+1.3m 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 ($6.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $108.16. Options: 5 managers hold calls ($72.5m notional), 6 hold puts ($57.7m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,226Q4 22: 1,224Q1 23: 1,119Q2 23: 1,080Q3 23: 1,109Q4 23: 1,107Q1 24: 1,049Q2 24: 1,031Q3 24: 967Q4 24: 1,022Q1 25: 1,009Q2 25: 983Q3 25: 967Q4 25: 1,0121,012Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 20221,226
Q4 20221,224
Q1 20231,119
Q2 20231,080
Q3 20231,109
Q4 20231,107
Q1 20241,049
Q2 20241,031
Q3 2024967
Q4 20241,022
Q1 20251,009
Q2 2025983
Q3 2025967
Q4 20251,012

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ1 24: 333 bought or addedQ1 24: 658 cut or sold outQ2 24: 415 bought or addedQ2 24: 560 cut or sold outQ2 24Q3 24: 287 bought or addedQ3 24: 612 cut or sold outQ4 24: 348 bought or addedQ4 24: 524 cut or sold outQ4 24Q1 25: 382 bought or addedQ1 25: 488 cut or sold outQ2 25: 357 bought or addedQ2 25: 506 cut or sold outQ2 25Q3 25: 407 bought or addedQ3 25: 432 cut or sold outQ4 25: 427 bought or addedQ4 25: 430 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024333658
Q2 2024415560
Q3 2024287612
Q4 2024348524
Q1 2025382488
Q2 2025357506
Q3 2025407432
Q4 2025427430

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60m$80mQ1 25 calls: $54.1mQ1 25 puts: $70.6mQ1 25P/C 1.31Q2 25 calls: $11.7mQ2 25 puts: $5.2mQ2 25P/C 0.45Q3 25 calls: $42.9mQ3 25 puts: $31.2mQ3 25P/C 0.73Q4 25 calls: $72.5mQ4 25 puts: $57.7mQ4 25P/C 0.80
Numbers
QuarterCallsPutsP/C
Q1 2025$54.1m$70.6m1.31
Q2 2025$11.7m$5.2m0.45
Q3 2025$42.9m$31.2m0.73
Q4 2025$72.5m$57.7m0.80

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +3,444,466+3.4m
Mitsubishi UFJ Trust & Banking Corp New +1,700,000+1.7m
GenTrust, LLC Added +471,102+471.1k
Capitolis Liquid Global Markets LLC Added +423,000+423.0k
HSBC HOLDINGS PLC Added +419,655+419.7k
Passaic Partners LLC New +363,828+363.8k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +354,023+354.0k
BlackRock, Inc. Added +259,890+259.9k
3EDGE Asset Management, LP Added +248,482+248.5k
FMR LLC Added +169,846+169.8k

Biggest sellers

JPMORGAN CHASE & CO Reduced -1,643,097-1.6m
SUMITOMO LIFE INSURANCE CO Sold out -1,471,634-1.5m
FIL Ltd Reduced -744,364-744.4k
BNP PARIBAS FINANCIAL MARKETS Reduced -493,111-493.1k
Man Group plc Reduced -422,050-422.1k
ROYAL BANK OF CANADA Reduced -403,642-403.6k
GOLDMAN SACHS GROUP INC Reduced -262,752-262.8k
Cambridge Investment Research Advisors, Inc. Reduced -255,254-255.3k
SUMMIT WEALTH GROUP LLC / CO Sold out -227,828-227.8k
OSAIC HOLDINGS, INC. Reduced -197,751-197.8k

Biggest calls

UBS Group AG Added $40.7m370.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $16.0m145.3k shares
HSBC HOLDINGS PLC New $13.8m125.0k shares
CITADEL ADVISORS LLC Added $1.6m14.7k shares
JANE STREET GROUP, LLC Added $527.6k4.8k shares

Biggest puts

UBS Group AG Added $40.7m370.0k shares
HSBC HOLDINGS PLC New $13.8m125.0k shares
JANE STREET GROUP, LLC Added $1.2m10.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.0m9.1k shares
SJBENEN ADVISORY, LLC First filing $615.5k5.6k shares
CITADEL ADVISORS LLC Added $483.6k4.4k shares

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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.16% of their portfolio CHARLOTTE, NC 20,600,03120.6m $2.3bn $2.3bn 0.16% Added +3.4m +3,444,466
2 FMR LLC 0.03% of their portfolio BOSTON, MA 5,574,7185.6m $612.7m $612.7m 0.03% Added +169.8k +169,846
3 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 4,267,8494.3m $469.1m $469.1m 0.03% Reduced -70.1k -70,081
4 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,620,1142.6m $288.0m $288.0m 0.00% Added +259.9k +259,890
5 ENVESTNET ASSET MANAGEMENT INC 0.07% of their portfolio Berwyn, PA 2,040,0492.0m $224.2m $224.2m 0.07% Added +65.5k +65,511
6 Mitsubishi UFJ Trust & Banking Corp 0.00% of their portfolio TOKYO, M0 1,700,0001.7m $186.8k $186.8k 0.00% New
7 UBS Group AG 0.04% of their portfolio ZURICH, V8 1,633,0941.6m $179.5m $179.5m 0.04% Reduced -162.2k -162,155
8 Pictet Asset Management Holding SA 0.14% of their portfolio CAROUGE, V8 1,276,6001.3m $140.6m $140.6m 0.14% Added +39.2k +39,200
9 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 1,260,2781.3m $138.5m $138.5m 0.04% Reduced -22.9k -22,949
10 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 1,188,4881.2m $130.6m $130.6m 0.03% Added +23.6k +23,599
11 ASSETMARK, INC 0.25% of their portfolio CONCORD, CA 1,108,5021.1m $121.8m $121.8m 0.25% Reduced -192.0k -191,986
12 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 1,039,5541.0m $114.3m $114.3m 0.03% Added +419.7k +419,655
13 EVOKE WEALTH, LLC 2.18% of their portfolio Los Angeles, CA 1,031,7831.0m $113.4m $113.4m 2.18% Reduced -5.7k -5,733
14 CI INVESTMENTS INC. 0.44% of their portfolio TORONTO, Z4 906,777906.8k $99.7m $99.7m 0.44% Reduced -51.3k -51,283
15 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 870,971871.0k $95.7m $95.7m 0.02% Reduced -116.5k -116,473
16 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 809,708809.7k $89.0m $89.0m 0.02% Reduced -403.6k -403,642
17 PARTNERS CAPITAL INVESTMENT GROUP, LLP 2.96% of their portfolio BOSTON, MA 722,269722.3k $79.4m $79.4m 2.96% Added +150.4k +150,418
18 GenTrust, LLC 3.31% of their portfolio MIAMI, FL 695,525695.5k $76.4m $76.4m 3.31% Added +471.1k +471,102
19 WealthNavi Inc. 0.67% of their portfolio Shinagawa-ku, TOKYO, M0 692,532692.5k $76.1m $76.1m 0.67% Reduced -34.7k -34,713
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 667,995668.0k $73.4m $73.4m 0.00% Reduced -1.6m -1,643,097
21 KEYBANK NATIONAL ASSOCIATION/OH 0.25% of their portfolio BROOKLYN, OH 635,191635.2k $69.8m $69.8m 0.25% Added +18.4k +18,437
22 MARTIN & CO INC /TN/ 11.97% of their portfolio Knoxville, TN 634,755634.8k $69.8m $69.8m 11.97% Added +24.7k +24,700
23 Man Group plc 0.12% of their portfolio LONDON, X0 570,290570.3k $62.7m $62.7m 0.12% Reduced -422.1k -422,050
24 FIL Ltd 0.04% of their portfolio HAMILTON, D0 494,425494.4k $54.3m $54.3m 0.04% Reduced -744.4k -744,364
25 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 473,432473.4k $52.0m $52.0m 0.03% Reduced -34.7k -34,672
26 Capitolis Liquid Global Markets LLC 0.31% of their portfolio NEW YORK, NY 473,000473.0k $52.0m $52.0m 0.31% Added +423.0k +423,000
27 3EDGE Asset Management, LP 2.69% of their portfolio Naples, FL 470,178470.2k $51.8m $51.8m 2.69% Added +248.5k +248,482
28 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 468,132468.1k $51.5m $51.5m 0.01% Reduced -262.8k -262,752
29 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 465,284465.3k $51.1m $51.1m 0.01% Added +10.6k +10,593
30 Dynasty Wealth Management, LLC 0.50% of their portfolio ST. PETERSBURG, FL 464,304464.3k $51.0m $51.0m 0.50% Added +24.2k +24,199
31 BALDWIN WEALTH PARTNERS LLC/MA 3.24% of their portfolio Marion, MA 460,411460.4k $50.6m $50.6m 3.24% Added +17.0k +17,036
32 Quotient Wealth Partners, LLC 1.33% of their portfolio DALLAS, TX 454,648454.6k $50.0m $50.0m 1.33% Added +26.1k +26,086
33 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 442,396442.4k $48.6m $48.6m 0.03% Reduced -8.4k -8,448
34 MARSHALL WACE, LLP 0.04% of their portfolio LONDON, X0 417,145417.1k $45.8m $45.8m 0.04% Added +17.9k +17,900
35 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio Toronto, A6 409,228409.2k $45.0m $45.0m 0.04% Added +354.0k +354,023
36 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 404,715404.7k $44.5m $44.5m 0.05% Reduced -8.4k -8,430
37 One Capital Management, LLC 1.33% of their portfolio WESTLAKE VILLAGE, CA 401,700401.7k $44.2m $44.2m 1.33% Added +29.8k +29,832
38 Federation des caisses Desjardins du Quebec 0.16% of their portfolio LEVIS, A8 387,143387.1k $42.6m $42.6m 0.16% Reduced -180 -180
39 VIEWPOINT INVESTMENT PARTNERS CORP 19.84% of their portfolio CALGARY, A0 379,200379.2k $41.7m $41.7m 19.84% Added +60.7k +60,700
40 Rock Creek Group LLC 4.57% of their portfolio Washington, DC 370,537370.5k $40.7m $40.7m 4.57% Added +74.5k +74,529
41 Passaic Partners LLC 4.14% of their portfolio NEWARK, NJ 363,828363.8k $40.0m $40.0m 4.14% New
42 TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio NEW YORK, NY 362,700362.7k $39.9m $39.9m 0.06% Unchanged
43 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 354,749354.7k $39.0m $39.0m 0.04% Reduced -11.5k -11,464
44 OSAIC HOLDINGS, INC. 0.06% of their portfolio SCOTTSDALE, AZ 351,740351.7k $38.7m $38.7m 0.06% Reduced -197.8k -197,751
45 HUNTINGTON NATIONAL BANK 0.22% of their portfolio COLUMBUS, OH 329,430329.4k $36.2m $36.2m 0.22% Added +19.7k +19,743
46 Arbor Investment Advisors, LLC 4.71% of their portfolio WINSTON SALEM, NC 325,970326.0k $35.8m $35.8m 4.71% Added +11.7k +11,650
47 TD Waterhouse Canada Inc. 0.22% of their portfolio TORONTO, A6 316,647316.6k $34.8m $34.8m 0.22% Added +27.9k +27,876
48 HighTower Advisors, LLC 0.04% of their portfolio CHICAGO, IL 310,144310.1k $34.1m $34.1m 0.04% Added +39.2k +39,222
49 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 289,333289.3k $31.8m $31.8m 0.01% Added +20.1k +20,110
50 KWMG, LLC 2.72% of their portfolio OVERLAND PARK, KS 287,077287.1k $31.6m $31.6m 2.72% Added +5.5k +5,541
51 Rockefeller Capital Management L.P. 0.05% of their portfolio NEW YORK, NY 277,486277.5k $30.5m $30.5m 0.05% Added +27.9k +27,942
52 Prime Capital Investment Advisors, LLC 0.34% of their portfolio OVERLAND PARK, KS 256,364256.4k $28.2m $28.2m 0.34% Added +14.0k +13,961
53 PRUDENTIAL FINANCIAL INC 0.03% of their portfolio NEWARK, NJ 243,726243.7k $26.8m $26.8m 0.03% Unchanged
54 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 240,261240.3k $26.4m $26.4m 0.06% Added +9.2k +9,240
55 COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio WALTHAM, MA 240,027240.0k $26.4m $26.4m 0.04% Reduced -3.3k -3,306
56 Dakota Wealth Management 0.46% of their portfolio PALM BEACH GARDENS, FL 233,207233.2k $25.6m $25.6m 0.46% Reduced -25.0k -25,031
57 Beacon Pointe Advisors, LLC 0.16% of their portfolio NEWPORT BEACH, CA 210,714210.7k $23.2m $23.2m 0.16% Added +75.4k +75,420
58 Ethos Financial Group, LLC 1.69% of their portfolio KING OF PRUSSIA, PA 208,642208.6k $22.9m $22.9m 1.69% Added +31.8k +31,820
59 Lido Advisors, LLC 0.08% of their portfolio Los Angeles, CA 184,848184.8k $20.5m $20.5m 0.08% Added +1.6k +1,617
60 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.03% of their portfolio PLYMOUTH, MN 179,740179.7k $19.8m $19.8m 0.03% Added +8.4k +8,358
61 West Financial Advisors, LLC 3.27% of their portfolio DES MOINES, IA 176,285176.3k $19.4m $19.4m 3.27% Added +42.4k +42,410
62 DORVAL Corp 6.14% of their portfolio MAPLE GROVE, MN 175,126175.1k $19.2m $19.2m 6.14% Added +3.8k +3,827
63 RHUMBLINE ADVISERS 0.02% of their portfolio BOSTON, MA 173,004173.0k $19.0m $19.0m 0.02% Reduced -85.5k -85,493
64 Pacific Life Fund Advisors LLC 1.96% of their portfolio NEWPORT BEACH, CA 172,867172.9k $19.0m $19.0m 1.96% Added +6.5k +6,484
65 CIM, LLC 2.43% of their portfolio ALBANY, NY 168,789168.8k $18.6m $18.6m 2.43% Added +5.9k +5,923
66 Cypress Capital, LLC 5.09% of their portfolio FRANKLIN, TN 165,244165.2k $18.2m $18.2m 5.09% Added +1.3k +1,253
67 Heartwood Wealth Advisors LLC 1.61% of their portfolio RICHMOND, VA 159,331159.3k $17.5m $17.5m 1.61% Added +3.2k +3,225
68 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 156,078156.1k $17.2m $17.2m 0.01% Reduced -493.1k -493,111
69 CWM, LLC 0.05% of their portfolio OMAHA, NE 151,266151.3k $16.6m $16.6m 0.05% Added +34.4k +34,426
70 Cambridge Investment Research Advisors, Inc. 0.04% of their portfolio FAIRFIELD, IA 149,688149.7k $16.5m $16.5m 0.04% Reduced -255.3k -255,254
71 MERIDIAN MANAGEMENT CO 3.91% of their portfolio LITTLE ROCK, AR 143,647143.6k $15.8m $15.8m 3.91% Added +19.5k +19,457
72 NorthCoast Asset Management LLC 0.35% of their portfolio STAMFORD, CT 143,479143.5k $15.8m $15.8m 0.35% Added +35.6k +35,625
73 RTD Financial Advisors, Inc. 1.82% of their portfolio Philadelphia, PA 135,961136.0k $14.9m $14.9m 1.82% Added +5.7k +5,736
74 Mariner, LLC 0.02% of their portfolio Overland Park, KS 134,504134.5k $14.8m $14.8m 0.02% Reduced -9.5k -9,527
75 Horizon Investments, LLC 0.19% of their portfolio Charlotte, NC 133,542133.5k $14.7m $14.7m 0.19% Added +3.0k +3,009
76 Lutz Financial Services LLC 1.00% of their portfolio OMAHA, NE 133,199133.2k $14.6m $14.6m 1.00% Reduced -715 -715
77 Pure Financial Advisors, LLC 0.22% of their portfolio SAN DIEGO, CA 132,494132.5k $14.6m $14.6m 0.22% Reduced -1.7k -1,702
78 Marino Management, LLC 2.76% of their portfolio WESTPORT, CT 126,194126.2k $13.9m $13.9m 2.76% First filing
79 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 125,472125.5k $13.8m $13.8m 0.02% Added +437 +437
80 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 0.22% of their portfolio BOSTON, MA 124,184124.2k $13.6m $13.6m 0.22% Added +64.7k +64,688
81 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 120,208120.2k $13.2m $13.2m 0.01% Added +25.2k +25,156
82 Independence Financial Advisors, LLC 3.58% of their portfolio FRANKLIN, NH 118,619118.6k $13.0m $13.0m 3.58% Added +4.4k +4,387
83 Mirae Asset Global Investments Co., Ltd. 0.04% of their portfolio SEOUL, M5 118,239118.2k $13.0m $13.0m 0.04% Reduced -39.4k -39,434
84 Rathbones Group PLC 0.03% of their portfolio Liverpool, X0 117,572117.6k $12.9m $12.9m 0.03% Added +54.2k +54,198
85 ARKANSAS FINANCIAL GROUP, INC. 1.84% of their portfolio LITTLE ROCK, AR 115,876115.9k $12.7m $12.7m 1.84% Reduced -28.9k -28,894
86 Net Worth Advisory Group 2.53% of their portfolio SANDY, UT 114,018114.0k $12.5m $12.5m 2.53% Added +9.0k +9,008
87 TWIN FOCUS CAPITAL PARTNERS, LLC 1.44% of their portfolio Boston, MA 113,616113.6k $12.5m $12.5m 1.44% Added +6.2k +6,197
88 Ted Buchan & Co 4.57% of their portfolio San Diego, CA 113,197113.2k $12.4m $12.4m 4.57% Added +6.0k +6,021
89 Fischer Financial Services, Inc. 3.18% of their portfolio HARRISBURG, PA 109,194109.2k $12.0m $12.0m 3.18% Added +1.6k +1,588
90 Equitable Holdings, Inc. 0.08% of their portfolio NEW YORK, NY 108,209108.2k $11.9m $11.9m 0.08% Added +8.1k +8,137
91 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 105,254105.3k $11.6m $11.6m 0.02% Reduced -14.4k -14,442
92 Strategic Investment Advisors / MI 1.00% of their portfolio FARMINGTON HILLS, MI 105,253105.3k $11.6m $11.6m 1.00% Added +103.3k +103,349
93 Parkway Wealth Management Group, LLC 1.53% of their portfolio Plano, TX 104,052104.1k $11.4m $11.4m 1.53% First filing
94 Buck Wealth Strategies, LLC 1.45% of their portfolio DENVER, CO 103,918103.9k $11.4m $11.4m 1.45% Reduced -4.6k -4,562
95 BlueSky Wealth Advisors, LLC 1.50% of their portfolio New Bern, NC 103,588103.6k $11.4m $11.4m 1.50% Added +64 +64
96 Verger Capital Management LLC 3.34% of their portfolio Winston-Salem, NC 102,721102.7k $11.3m $11.3m 3.34% Added +2.9k +2,885
97 BOKF, NA 0.17% of their portfolio TULSA, OK 100,744100.7k $11.1m $11.1m 0.17% Added +9.8k +9,772
98 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 99,04499.0k $10.9m $10.9m 0.01% Added +3.8k +3,811
99 Vertex Investment Solutions Co., Ltd. 10.40% of their portfolio CHIYODA-KU, M0 95,20095.2k $10.5m $10.5m 10.40% First filing
100 White Pine Investment CO 2.45% of their portfolio LIVONIA, MI 94,51994.5k $10.4m $10.4m 2.45% Added +3.1k +3,111