Vault-13

ISHARES TR IVE

S&P 500 VAL ETF · ETP · CUSIP 464287408

1,538 institutional holders +1 vs Q1 2025
163,556,781163.6m shares reported held*
$32.0bnreported value*
83 new 611 added 481 reduced 86 sold out net bought ≈ $1.4bn (+7.0m 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 ($64.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $195.95. Options: 8 managers hold calls ($45.5m notional), 5 hold puts ($7.6m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,048Q4 22: 1,117Q1 23: 1,126Q2 23: 1,148Q3 23: 1,148Q4 23: 1,257Q1 24: 1,358Q2 24: 1,368Q3 24: 1,443Q4 24: 1,558Q1 25: 1,537Q2 25: 1,5381,538Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20221,048
Q4 20221,117
Q1 20231,126
Q2 20231,148
Q3 20231,148
Q4 20231,257
Q1 20241,358
Q2 20241,368
Q3 20241,443
Q4 20241,558
Q1 20251,537
Q2 20251,538

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ3 23: 357 bought or addedQ3 23: 516 cut or sold outQ4 23: 479 bought or addedQ4 23: 482 cut or sold outQ4 23Q1 24: 661 bought or addedQ1 24: 488 cut or sold outQ2 24: 581 bought or addedQ2 24: 545 cut or sold outQ2 24Q3 24: 648 bought or addedQ3 24: 536 cut or sold outQ4 24: 657 bought or addedQ4 24: 552 cut or sold outQ4 24Q1 25: 730 bought or addedQ1 25: 585 cut or sold outQ2 25: 694 bought or addedQ2 25: 567 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023357516
Q4 2023479482
Q1 2024661488
Q2 2024581545
Q3 2024648536
Q4 2024657552
Q1 2025730585
Q2 2025694567

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ3 24 calls: $26.7mQ3 24 puts: $5.3mQ3 24P/C 0.20Q4 24 calls: $24.5mQ4 24 puts: $11.1mQ4 24P/C 0.45Q1 25 calls: $37.4mQ1 25 puts: $9.4mQ1 25P/C 0.25Q2 25 calls: $45.5mQ2 25 puts: $7.6mQ2 25P/C 0.17
Numbers
QuarterCallsPutsP/C
Q3 2024$26.7m$5.3m0.20
Q4 2024$24.5m$11.1m0.45
Q1 2025$37.4m$9.4m0.25
Q2 2025$45.5m$7.6m0.17

Biggest buyers

ENVESTNET ASSET MANAGEMENT INC Added +2,339,857+2.3m
ROYAL BANK OF CANADA Added +1,182,588+1.2m
LPL Financial LLC Added +934,622+934.6k
AMERIPRISE FINANCIAL INC Added +484,782+484.8k
Rockefeller Capital Management L.P. Added +339,202+339.2k
EP Wealth Advisors, LLC Added +332,218+332.2k
MORGAN STANLEY Added +315,847+315.8k
MML INVESTORS SERVICES, LLC Added +231,828+231.8k
STIFEL FINANCIAL CORP Added +214,865+214.9k
PARK AVENUE SECURITIES LLC Added +205,339+205.3k

Biggest sellers

CHARLES SCHWAB INVESTMENT MANAGEMENT INC Reduced -321,355-321.4k
BANK OF AMERICA CORP /DE/ Reduced -255,047-255.0k
GOLDMAN SACHS GROUP INC Reduced -237,310-237.3k
Praetorian Wealth Management, Inc. Reduced -211,506-211.5k
World Investment Advisors Reduced -196,845-196.8k
Corient Private Wealth LP Reduced -164,198-164.2k
TWO SIGMA INVESTMENTS, LP Reduced -122,900-122.9k
Horizon Wealth Management, LLC Reduced -118,918-118.9k
Thrivent Financial for Lutherans Reduced -115,339-115.3k
Atria Wealth Solutions, Inc. Reduced -115,297-115.3k

Biggest calls

GROUP ONE TRADING LLC Added $17.4m91.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $16.2m83.1k shares
IMC-Chicago, LLC Reduced $9.5m49.5k shares
Belvedere Trading LLC New $840.3k4.3k shares
JPMORGAN CHASE & CO New $690.6k5.2k shares
CITADEL ADVISORS LLC Reduced $586.3k3.0k shares
JANE STREET GROUP, LLC Reduced $254.0k1.3k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.6m18.5k shares
CITADEL ADVISORS LLC Reduced $2.2m11.1k shares
Cubist Systematic Strategies, LLC Added $1.5m7.8k shares
LPL Financial LLC Reduced $234.5k1.2k shares
WELLS FARGO & COMPANY/MN New $19.5k100 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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 1.20% of their portfolio Berwyn, PA 20,983,50321.0m $4.1bn $4.1bn 1.20% Added +2.3m +2,339,857
2 JPMORGAN CHASE & CO 0.24% of their portfolio NEW YORK, NY 17,895,69717.9m $3.5bn $3.5bn 0.24% Added +119.5k +119,534
3 MORGAN STANLEY 0.18% of their portfolio NEW YORK, NY 14,135,64714.1m $2.8bn $2.8bn 0.18% Added +315.8k +315,847
4 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 8,324,9178.3m $1.6bn $1.6bn 0.13% Reduced -255.0k -255,047
5 LPL Financial LLC 0.52% of their portfolio FORT MILL, SC 7,911,9057.9m $1.5bn $1.5bn 0.52% Added +934.6k +934,622
6 WELLS FARGO & COMPANY/MN 0.27% of their portfolio SAN FRANCISCO, CA 6,300,5936.3m $1.2bn $1.2bn 0.27% Added +30.9k +30,882
7 UBS Group AG 0.15% of their portfolio ZURICH, V8 3,567,4063.6m $697.1m $697.1m 0.15% Added +8.7k +8,662
8 AMERIPRISE FINANCIAL INC 0.15% of their portfolio MINNEAPOLIS, MN 3,031,0143.0m $591.8m $591.8m 0.15% Added +484.8k +484,782
9 STIFEL FINANCIAL CORP 0.56% of their portfolio ST. LOUIS, MO 2,928,1552.9m $572.2m $572.2m 0.56% Added +214.9k +214,865
10 ROYAL BANK OF CANADA 0.05% of their portfolio TORONTO, A6 2,435,1602.4m $475.9m $475.9m 0.05% Added +1.2m +1,182,588
11 PNC Financial Services Group, Inc. 0.30% of their portfolio Pittsburgh, PA 2,362,4792.4m $461.7m $461.7m 0.30% Added +105.4k +105,403
12 GOLDMAN SACHS GROUP INC 0.07% of their portfolio NEW YORK, NY 2,352,6942.4m $459.8m $459.8m 0.07% Reduced -237.3k -237,310
13 Cetera Investment Advisers 0.70% of their portfolio SCHAUMBURG, IL 2,112,8952.1m $412.9m $412.9m 0.70% Added +152.9k +152,851
14 BlackRock, Inc. 0.01% of their portfolio New York, NY 1,990,5672.0m $389.0m $389.0m 0.01% Added +183.0k +182,998
15 CWM, LLC 1.29% of their portfolio OMAHA, NE 1,867,1001.9m $364.9m $364.9m 1.29% Added +61.0k +61,038
16 Envestnet Portfolio Solutions, Inc. 1.23% of their portfolio BERWYN, PA 1,715,6491.7m $335.3m $335.3m 1.23% Added +26.6k +26,621
17 PARK AVENUE SECURITIES LLC 2.98% of their portfolio NEW YORK, NY 1,655,8041.7m $323.6m $323.6m 2.98% Added +205.3k +205,339
18 RAYMOND JAMES FINANCIAL INC 0.11% of their portfolio ST. PETERSBURG, FL 1,647,2171.6m $321.9m $321.9m 0.11% Added +48.6k +48,639
19 Lido Advisors, LLC 1.68% of their portfolio Los Angeles, CA 1,638,0521.6m $320.1m $320.1m 1.68% Reduced -39.0k -38,971
20 MML INVESTORS SERVICES, LLC 0.79% of their portfolio SPRINGFIELD, MA 1,396,0521.4m $272.8m $272.8m 0.79% Added +231.8k +231,828
21 Mariner, LLC 0.31% of their portfolio Overland Park, KS 1,113,5241.1m $217.6m $217.6m 0.31% Added +17.1k +17,098
22 COMMONWEALTH EQUITY SERVICES, LLC 0.29% of their portfolio WALTHAM, MA 1,112,6281.1m $217.4m $217.4m 0.29% Reduced -6.4k -6,418
23 MAI Capital Management 1.38% of their portfolio INDEPENDENCE, OH 1,019,5271.0m $199.2m $199.2m 1.38% Added +33.8k +33,807
24 Janney Montgomery Scott LLC 0.51% of their portfolio PHILADELPHIA, PA 1,006,4061.0m $196.7m $196.7m 0.51% Added +84.9k +84,876
25 SOFI WEALTH, LLC 11.36% of their portfolio SAN FRANCISCO, CA 951,932951.9k $186.0m $186.0m 11.36% Added +54.7k +54,664
26 M&T Bank Corp 0.58% of their portfolio BUFFALO, NY 864,195864.2k $168.9m $168.9m 0.58% Reduced -66.6k -66,609
27 FMR LLC 0.01% of their portfolio BOSTON, MA 826,416826.4k $161.5m $161.5m 0.01% Reduced -3.9k -3,892
28 Composition Wealth, LLC 2.53% of their portfolio LOS ANGELES, CA 771,617771.6k $150.8m $150.8m 2.53% Added +48.1k +48,142
29 Sanctuary Advisors, LLC 0.89% of their portfolio INDIANAPOLIS, IN 735,201735.2k $143.7m $143.7m 0.89% Added +109.2k +109,209
30 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 719,697719.7k $140.6m $140.6m 0.03% Added +112.2k +112,150
31 NorthCoast Asset Management LLC 0.60% of their portfolio STAMFORD, CT 714,381714.4k $139.6m $139.6m 0.60% Added +121.5k +121,503
32 NewEdge Advisors, LLC 0.72% of their portfolio NEW ORLEANS, LA 711,333711.3k $139.0m $139.0m 0.72% Reduced -22.5k -22,539
33 OneDigital Investment Advisors LLC 1.49% of their portfolio OVERLAND PARK, KS 688,175688.2k $134.5m $134.5m 1.49% Added +28.1k +28,055
34 OSAIC HOLDINGS, INC. 0.23% of their portfolio SCOTTSDALE, AZ 663,926663.9k $129.8m $129.8m 0.23% Added +117.8k +117,842
35 Rockefeller Capital Management L.P. 0.15% of their portfolio NEW YORK, NY 654,174654.2k $127.8m $127.8m 0.15% Added +339.2k +339,202
36 Foundations Investment Advisors, LLC 2.02% of their portfolio PHOENIX, AZ 653,970654.0k $127.8m $127.8m 2.02% Added +103.4k +103,436
37 TRUIST FINANCIAL CORP 0.18% of their portfolio CHARLOTTE, NC 639,577639.6k $125.0m $125.0m 0.18% Added +141.5k +141,520
38 Rehmann Capital Advisory Group 7.41% of their portfolio LANSING, MI 626,003626.0k $122.3m $122.3m 7.41% Reduced -8.1k -8,063
39 US BANCORP \DE\ 0.15% of their portfolio MINNEAPOLIS, MN 616,663616.7k $120.5m $120.5m 0.15% Reduced -91.6k -91,634
40 HighTower Advisors, LLC 0.15% of their portfolio CHICAGO, IL 612,975613.0k $119.8m $119.8m 0.15% Added +67.9k +67,894
41 HUNTINGTON NATIONAL BANK 0.78% of their portfolio COLUMBUS, OH 611,611611.6k $119.5m $119.5m 0.78% Reduced -44.9k -44,896
42 JB Capital LLC 5.61% of their portfolio WETHERSFIELD, CT 592,200592.2k $115.7m $115.7m 5.61% Added +109.8k +109,825
43 AVANTAX ADVISORY SERVICES, INC. 0.60% of their portfolio DALLAS, TX 560,577560.6k $109.5m $109.5m 0.60% Added +18.3k +18,291
44 Calamos Wealth Management LLC 4.61% of their portfolio NAPERVILLE, IL 555,581555.6k $108.6m $108.6m 4.61% Added +13.4k +13,385
45 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.82% of their portfolio IRVING, TX 519,868519.9k $101.6m $101.6m 0.82% Added +25.8k +25,813
46 Focus Partners Wealth 0.22% of their portfolio ST LOUIS, MO 518,381518.4k $101.3m $101.3m 0.22% Added +105.2k +105,237
47 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 1.65% of their portfolio MINNEAPOLIS, MN 504,103504.1k $98.5m $98.5m 1.65% Reduced -53.1k -53,064
48 LVZ, Inc. 10.53% of their portfolio Holland, MI 449,606449.6k $87.9m $87.9m 10.53% Added +8.6k +8,641
49 Cambridge Investment Research Advisors, Inc. 0.25% of their portfolio FAIRFIELD, IA 419,881419.9k $82.1m $82.1m 0.25% Reduced -9.3k -9,350
50 HOME FEDERAL BANK OF TENNESSEE 21.69% of their portfolio KNOXVILLE, TN 391,484391.5k $76.5m $76.5m 21.69% Added +447 +447
51 Betterment LLC 0.16% of their portfolio NEW YORK, NY 388,831388.8k $76.0m $76.0m 0.16% Reduced -13.1k -13,088
52 JONES FINANCIAL COMPANIES LLLP 0.06% of their portfolio DES PERES, MO 378,868378.9k $73.6m $73.6m 0.06% Added +59.8k +59,750
53 EP Wealth Advisors, LLC 0.48% of their portfolio TORRANCE, CA 373,966374.0k $73.1m $73.1m 0.48% Added +332.2k +332,218
54 COMERICA BANK 0.28% of their portfolio DALLAS, TX 371,035371.0k $72.5m $72.5m 0.28% Added +142 +142
55 MONETA GROUP INVESTMENT ADVISORS LLC 0.83% of their portfolio ST LOUIS, MO 358,694358.7k $70.1m $70.1m 0.83% Added +7.1k +7,052
56 Kestra Advisory Services, LLC 0.33% of their portfolio AUSTIN, TX 349,692349.7k $68.3m $68.3m 0.33% Reduced -55.9k -55,926
57 Advocacy Wealth Management, LLC 4.14% of their portfolio ATLANTA, GA 345,509345.5k $67.5m $67.5m 4.14% Added +61.2k +61,181
58 CX Institutional 2.24% of their portfolio AUBURN, IN 328,571328.6k $64.2m $64.2m 2.24% Added +46.9k +46,928
59 LPWM LLC 17.54% of their portfolio MINNEAPOLIS, MN 307,687307.7k $60.1m $60.1m 17.54% Added +13.2k +13,218
60 Ascent Group, LLC 2.33% of their portfolio VIRGINIA BEACH, VA 305,852305.9k $59.8m $59.8m 2.33% Added +15.8k +15,805
61 Kestra Investment Management, LLC 0.91% of their portfolio AUSTIN, TX 304,435304.4k $59.1m $59.1m 0.91% Added +152.6k +152,567
62 Valmark Advisers, Inc. 0.82% of their portfolio AKRON, OH 299,730299.7k $58.6m $58.6m 0.82% Reduced -10.0k -9,966
63 COURIER CAPITAL LLC 3.52% of their portfolio BUFFALO, NY 297,095297.1k $58.1m $58.1m 3.52% Reduced -518 -518
64 Baird Financial Group, Inc. 0.10% of their portfolio MILWAUKEE, WI 288,124288.1k $56.3m $56.3m 0.10% Reduced -10.6k -10,570
65 Private Advisor Group, LLC 0.30% of their portfolio MORRISTOWN, NJ 284,590284.6k $55.6m $55.6m 0.30% Added +66.0k +65,956
66 Probity Advisors, Inc. 9.75% of their portfolio DALLAS, TX 283,962284.0k $55.5m $55.5m 9.75% Added +9.5k +9,514
67 BARCLAYS PLC 0.02% of their portfolio LONDON, X0 274,046274.0k $53.6m $53.6m 0.02% Reduced -7.9k -7,934
68 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 272,484272.5k $53.2m $53.2m 0.03% Reduced -9.4k -9,375
69 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 268,949268.9k $52.6m $52.6m 0.04% Reduced -2.5k -2,459
70 AMARILLO NATIONAL BANK 9.75% of their portfolio AMARILLO, TX 268,401268.4k $52.5m $52.5m 9.75% Reduced -1.3k -1,345
71 Equitable Holdings, Inc. 0.41% of their portfolio NEW YORK, NY 254,330254.3k $49.7m $49.7m 0.41% Added +15.9k +15,936
72 AE Wealth Management LLC 0.36% of their portfolio TOPEKA, KS 251,862251.9k $49.2m $49.2m 0.36% Added +47.1k +47,136
73 FIFTH THIRD BANCORP 0.17% of their portfolio CINCINNATI, OH 250,958251.0k $49.0m $49.0m 0.17% Reduced -1.3k -1,275
74 EVOKE WEALTH, LLC 1.13% of their portfolio Los Angeles, CA 246,849246.8k $48.2m $48.2m 1.13% Added +4.5k +4,525
75 Frank, Rimerman Advisors LLC 3.20% of their portfolio Palo Alto, CA 243,910243.9k $47.7m $47.7m 3.20% Unchanged
76 Austin Private Wealth, LLC 3.77% of their portfolio Austin, TX 243,662243.7k $47.6m $47.6m 3.77% Added +12.7k +12,681
77 REGIONS FINANCIAL CORP 0.32% of their portfolio BIRMINGHAM, AL 238,941238.9k $46.7m $46.7m 0.32% Added +5.6k +5,560
78 Financial Engines Advisors L.L.C. 0.09% of their portfolio SANTA CLARA, CA 237,561237.6k $46.4m $46.4m 0.09% Reduced -54.4k -54,359
79 Strategic Point Investment Advisors, LLC 7.06% of their portfolio PROVIDENCE, RI 234,146234.1k $45.8m $45.8m 7.06% Added +2.0k +1,952
80 KEYBANK NATIONAL ASSOCIATION/OH 0.17% of their portfolio BROOKLYN, OH 232,226232.2k $45.4m $45.4m 0.17% Reduced -876 -876
81 Modern Wealth Management, LLC 1.06% of their portfolio KANSAS CITY, MO 220,477220.5k $43.1m $43.1m 1.06% Added +193.6k +193,639
82 Baker Avenue Asset Management, LP 1.17% of their portfolio SAN FRANCISCO, CA 209,974210.0k $41.0m $41.0m 1.17% Added +2.1k +2,064
83 CreativeOne Wealth, LLC 1.04% of their portfolio OVERLAND PARK, KS 202,555202.6k $39.6m $39.6m 1.04% Added +22.8k +22,775
84 SMITH, MOORE & CO. 3.25% of their portfolio CLAYTON, MO 198,115198.1k $38.7m $38.7m 3.25% Reduced -3.3k -3,279
85 West Wealth Group, LLC 9.66% of their portfolio Irvine, CA 197,547197.5k $38.8m $38.8m 9.66% Reduced -6.6k -6,569
86 Salomon & Ludwin, LLC 3.83% of their portfolio RICHMOND, VA 196,493196.5k $38.8m $38.8m 3.83% Reduced -2.1k -2,079
87 Atria Investments, Inc 0.45% of their portfolio Charlotte, NC 193,306193.3k $37.8m $37.8m 0.45% Added +41.3k +41,251
88 Icon Wealth Advisors, LLC 2.68% of their portfolio HOUSTON, TX 192,531192.5k $37.6m $37.6m 2.68% Added +37.8k +37,823
89 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 184,563184.6k $36.1m $36.1m 0.00% Added +3.0k +2,998
90 North Star Investment Management Corp. 2.48% of their portfolio CHICAGO, IL 181,803181.8k $35.5m $35.5m 2.48% Added +241 +241
91 PHILLIPS FINANCIAL MANAGEMENT, LLC 2.57% of their portfolio FORT WAYNE, IN 180,996181.0k $35.4m $35.4m 2.57% Reduced -2.3k -2,280
92 Inlight Wealth Management, LLC 0.10% of their portfolio ATLANTA, GA 179,293179.3k $198.7k $198.7k 0.10% Unchanged
93 Foundation Wealth Management, LLC 24.20% of their portfolio Clayton, MO 177,796177.8k $34.7m $34.7m 24.20% Added +3.1k +3,072
94 FINANCIAL LIFE ADVISORS 11.28% of their portfolio SAN ANTONIO, TX 168,750168.8k $33.0m $33.0m 11.28% Added +7.1k +7,140
95 ENCOMPASS WEALTH ADVISORS, LLC 11.99% of their portfolio PORTLAND, OR 167,380167.4k $32.7m $32.7m 11.99% Added +5.2k +5,213
96 Integrated Wealth Concepts LLC 0.32% of their portfolio WALTHAM, MA 165,169165.2k $32.3m $32.3m 0.32% Added +28.2k +28,170
97 1834 INVESTMENT ADVISORS CO 4.05% of their portfolio Milwaukee, WI 163,617163.6k $32.0m $32.0m 4.05% Reduced -8.7k -8,716
98 GREENLEAF TRUST 0.28% of their portfolio KALAMAZOO, MI 160,499160.5k $31.4m $31.4m 0.28% Added +3.5k +3,462
99 Powell Investment Advisors, LLC 11.76% of their portfolio MIAMI, FL 160,365160.4k $31.3m $31.3m 11.76% Added +8.9k +8,946
100 Koss-Olinger Consulting, LLC 2.53% of their portfolio GAINESVILLE, FL 157,948157.9k $30.9m $30.9m 2.53% Reduced -12.2k -12,240