Vault-13

ISHARES TR TLT

20 YR TR BD ETF · ETP · CUSIP 464287432 · ISIN US4642874329

1,113 institutional holders +176 vs Q3 2023
428,362,706428.4m shares reported held*
$42.4bnreported value*
223 new 452 added 278 reduced 133 sold out net bought ≈ $10.6bn (+107.5m 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 ($29.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $98.91. Options: 67 managers hold calls ($13.0bn notional), 56 hold puts ($8.7bn).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 738Q4 22: 781Q1 23: 814Q2 23: 878Q3 23: 937Q4 23: 1,1131,113Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022738
Q4 2022781
Q1 2023814
Q2 2023878
Q3 2023937
Q4 20231,113

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 22: 444 bought or addedQ4 22: 354 cut or sold outQ4 22Q1 23: 503 bought or addedQ1 23: 322 cut or sold outQ1 23Q2 23: 551 bought or addedQ2 23: 320 cut or sold outQ2 23Q3 23: 605 bought or addedQ3 23: 374 cut or sold outQ3 23Q4 23: 675 bought or addedQ4 23: 411 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022444354
Q1 2023503322
Q2 2023551320
Q3 2023605374
Q4 2023675411

Calls vs puts

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

CallsPuts
$0$5bn$10bn$15bnQ1 23 calls: $7.1bnQ1 23 puts: $4.1bnQ1 23P/C 0.58Q2 23 calls: $12.3bnQ2 23 puts: $4.7bnQ2 23P/C 0.38Q3 23 calls: $12.8bnQ3 23 puts: $4.4bnQ3 23P/C 0.34Q4 23 calls: $13.0bnQ4 23 puts: $8.7bnQ4 23P/C 0.66
Numbers
QuarterCallsPutsP/C
Q1 2023$7.1bn$4.1bn0.58
Q2 2023$12.3bn$4.7bn0.38
Q3 2023$12.8bn$4.4bn0.34
Q4 2023$13.0bn$8.7bn0.66

Biggest buyers

MORGAN STANLEY Added +37,456,009+37.5m
Rafferty Asset Management, LLC Added +20,946,006+20.9m
FMR LLC Added +11,481,438+11.5m
JPMORGAN CHASE & CO Added +10,133,379+10.1m
JANE STREET GROUP, LLC Added +6,100,822+6.1m
UBS Group AG Added +5,095,082+5.1m
ASSETMARK, INC Added +4,381,387+4.4m
CIBC WORLD MARKET INC. Added +3,843,848+3.8m
BlackRock Inc. Added +3,432,852+3.4m
NATIONAL BANK OF CANADA /FI/ Added +3,379,211+3.4m

Biggest sellers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -8,658,178-8.7m
CITIGROUP INC Reduced -5,182,365-5.2m
Bramshill Investments, LLC Reduced -2,150,267-2.2m
CITADEL ADVISORS LLC Reduced -1,546,645-1.5m
SIMPLEX TRADING, LLC Reduced -1,506,849-1.5m
CAPTRUST FINANCIAL ADVISORS Reduced -1,289,348-1.3m
Jordan Park Group LLC Reduced -1,120,446-1.1m
CIBC WORLD MARKETS CORP Sold out -1,000,000-1.0m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -919,512-919.5k
BANK OF NOVA SCOTIA Sold out -789,000-789.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.7bn26.8m shares
UBS Group AG Added $2.1bn20.9m shares
BANK OF AMERICA CORP /DE/ Added $2.0bn19.8m shares
CITADEL ADVISORS LLC Reduced $1.4bn14.5m shares
CITIGROUP INC Reduced $769.2m7.8m shares
BRIGADE CAPITAL MANAGEMENT, LP New $692.2m7.0m shares
BARCLAYS PLC New $550.8m5.6m shares
WOLVERINE TRADING, LLC Added $337.2m3.4m shares
Valiant Capital Management, L.P. New $294.2m3.0m shares
Walleye Capital LLC New $203.9m2.1m shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.3bn23.3m shares
CITADEL ADVISORS LLC Added $1.6bn15.9m shares
GOLDMAN SACHS GROUP INC Added $855.4m8.7m shares
CITIGROUP INC Added $460.8m4.7m shares
MARSHALL WACE, LLP Added $455.1m4.6m shares
BANK OF AMERICA CORP /DE/ Added $327.3m3.3m shares
Walleye Capital LLC New $288.8m2.9m shares
UBS Group AG Added $269.5m2.7m shares
MILLENNIUM MANAGEMENT LLC Added $254.7m2.6m shares
Parallax Volatility Advisers, L.P. Added $219.8m2.2m 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: BlackRock Portfolio Management LLC (5.0%, 2026-10-27)

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.34% of their portfolio NEW YORK, NY 76,920,38676.9m $7.6bn $7.6bn 0.34% Added +37.5m +37,456,009
2 BANK OF AMERICA CORP /DE/ 0.54% of their portfolio CHARLOTTE, NC 48,085,68048.1m $4.8bn $4.8bn 0.54% Reduced -688.3k -688,293
3 Rafferty Asset Management, LLC 15.25% of their portfolio New York, NY 36,566,86236.6m $3.6bn $3.6bn 15.25% Added +20.9m +20,946,006
4 FMR LLC 0.15% of their portfolio BOSTON, MA 19,445,64219.4m $1.9bn $1.9bn 0.15% Added +11.5m +11,481,438
5 ENVESTNET ASSET MANAGEMENT INC 0.70% of their portfolio Berwyn, PA 17,210,70417.2m $1.7bn $1.7bn 0.70% Added +1.1m +1,090,199
6 BlackRock Inc. 0.04% of their portfolio New York, NY 16,825,13316.8m $1.7bn $1.7bn 0.04% Added +3.4m +3,432,852
7 UBS Group AG 0.54% of their portfolio ZURICH, V8 13,668,59113.7m $1.4bn $1.4bn 0.54% Added +5.1m +5,095,082
8 JPMORGAN CHASE & CO 0.07% of their portfolio NEW YORK, NY 13,635,63413.6m $1.3bn $1.3bn 0.07% Added +10.1m +10,133,379
9 JANE STREET GROUP, LLC 1.58% of their portfolio NEW YORK, NY 13,141,38313.1m $1.3bn $1.3bn 1.58% Added +6.1m +6,100,822
10 TD Asset Management Inc 0.95% of their portfolio Toronto, A6 9,739,4579.7m $963.0m $963.0m 0.95% Added +2.0m +2,023,240
11 AMERIPRISE FINANCIAL INC 0.19% of their portfolio MINNEAPOLIS, MN 6,382,4576.4m $631.7m $631.7m 0.19% Added +2.2m +2,191,358
12 LPL Financial LLC 0.30% of their portfolio FORT MILL, SC 4,938,6284.9m $488.3m $488.3m 0.30% Added +324.6k +324,550
13 CIBC WORLD MARKET INC. 1.31% of their portfolio TORONTO, A6 4,678,3734.7m $462.6m $462.6m 1.31% Added +3.8m +3,843,848
14 WELLS FARGO & COMPANY/MN 0.13% of their portfolio SAN FRANCISCO, CA 4,529,8874.5m $447.9m $447.9m 0.13% Added +158.9k +158,857
15 ASSETMARK, INC 1.61% of their portfolio CONCORD, CA 4,497,8764.5m $444.7m $444.7m 1.61% Added +4.4m +4,381,387
16 OSAIC HOLDINGS, INC. 0.71% of their portfolio SCOTTSDALE, AZ 4,118,0684.1m $407.3m $407.3m 0.71% Added +121.0k +120,986
17 Nan Shan Life Insurance Co., Ltd. 9.35% of their portfolio Taipei City, F5 3,913,6793.9m $387.0m $387.0m 9.35% Reduced -111.0k -111,000
18 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.62% of their portfolio BALA CYNWYD, PA 3,714,4123.7m $367.3m $367.3m 0.62% Reduced -8.7m -8,658,178
19 NATIONAL BANK OF CANADA /FI/ 0.61% of their portfolio MONTREAL, A8 3,435,7933.4m $337.8m $337.8m 0.61% Added +3.4m +3,379,211
20 BARCLAYS PLC 0.14% of their portfolio LONDON, X0 2,770,0302.8m $273.9m $273.9m 0.14% Added +37.0k +37,021
21 Janney Montgomery Scott LLC 0.88% of their portfolio PHILADELPHIA, PA 2,732,1882.7m $270.2m $270.2m 0.88% Added +113.8k +113,839
22 VANTAGEPOINT INVESTMENT ADVISERS LLC 32.62% of their portfolio WASHINGTON, DC 2,473,5412.5m $244.6m $244.6m 32.62% Unchanged
23 MACKENZIE FINANCIAL CORP 0.33% of their portfolio TORONTO ONTARIO, A6 2,216,9002.2m $219.2m $219.2m 0.33% Reduced -638.1k -638,100
24 ROYAL BANK OF CANADA 0.05% of their portfolio TORONTO, A6 2,162,2712.2m $213.8m $213.8m 0.05% Reduced -416.9k -416,876
25 TRUIST FINANCIAL CORP 0.32% of their portfolio CHARLOTTE, NC 2,040,6192.0m $201.8m $201.8m 0.32% Added +216.5k +216,532
26 Raymond James Financial Services Advisors, Inc. 0.32% of their portfolio ST. PETERSBURG, FL 2,020,7082.0m $199.8m $199.8m 0.32% Reduced -21.9k -21,871
27 RAYMOND JAMES & ASSOCIATES 0.15% of their portfolio ST PETERSBURG, FL 2,005,1432.0m $198.3m $198.3m 0.15% Added +134.2k +134,233
28 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.70% of their portfolio TORONTO, A6 2,003,6002.0m $198.1m $198.1m 0.70% New
29 NISA INVESTMENT ADVISORS, LLC 1.40% of their portfolio ST. LOUIS, MO 2,000,0002.0m $197.8m $197.8m 1.40% New
30 BNP PARIBAS FINANCIAL MARKETS 0.36% of their portfolio PARIS, I0 1,988,5792.0m $196.6m $196.6m 0.36% Added +447.5k +447,471
31 Envestnet Portfolio Solutions, Inc. 0.81% of their portfolio BERWYN, PA 1,971,7782.0m $195.0m $195.0m 0.81% Added +135.2k +135,218
32 Capitolis Liquid Global Markets LLC 7.93% of their portfolio NEW YORK, NY 1,950,0001.9m $192.8m $192.8m 7.93% First filing
33 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 1,926,3491.9m $190.5m $190.5m 0.04% Added +708.3k +708,346
34 ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio NASHVILLE, TN 1,779,8181.8m $176.0m $176.0m 0.07% Added +48.4k +48,364
35 CITADEL ADVISORS LLC 0.17% of their portfolio MIAMI, FL 1,748,5191.7m $172.9m $172.9m 0.17% Reduced -1.5m -1,546,645
36 HRT FINANCIAL LP 1.25% of their portfolio NEW YORK, NY 1,684,0151.7m $166.5m $166.5m 1.25% Added +1.1m +1,103,260
37 STIFEL FINANCIAL CORP 0.21% of their portfolio ST. LOUIS, MO 1,672,7841.7m $165.4m $165.4m 0.21% Added +362.2k +362,234
38 Parallax Volatility Advisers, L.P. 4.20% of their portfolio San Francisco, CA 1,545,5221.5m $152.8m $152.8m 4.20% Added +1.4m +1,352,894
39 WS MANAGEMENT LLLP 14.67% of their portfolio JACKSONVILLE, FL 1,508,6001.5m $149.2m $149.2m 14.67% New
40 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 1,448,5141.4m $143.2m $143.2m 0.03% Added +174.3k +174,349
41 PEAK6 Investments LLC 5.52% of their portfolio CHICAGO, IL 1,292,8251.3m $127.8m $127.8m 5.52% Added +862.9k +862,888
42 Nationwide Fund Advisors 14.15% of their portfolio COLUMBUS, OH 1,291,2101.3m $127.7m $127.7m 14.15% Reduced -41.0k -40,983
43 Annex Advisory Services, LLC 5.32% of their portfolio BROOKFIELD, WI 1,288,7161.3m $127.4m $127.4m 5.32% Added +54.8k +54,792
44 Maxi Investments CY Ltd 35.10% of their portfolio LIMASSOL, G4 1,262,3231.3m $124.8m $124.8m 35.10% Reduced -213.6k -213,553
45 CWM, LLC 0.67% of their portfolio OMAHA, NE 1,256,2081.3m $124.2m $124.2m 0.67% Reduced -1.7k -1,673
46 WestEnd Advisors, LLC 3.40% of their portfolio CHARLOTTE, NC 1,253,5431.3m $124.0m $124.0m 3.40% Added +143.6k +143,617
47 COMMONWEALTH EQUITY SERVICES, LLC 0.21% of their portfolio WALTHAM, MA 1,181,6131.2m $116.8m $116.8m 0.21% Added +73.7k +73,710
48 PARK AVENUE SECURITIES LLC 1.39% of their portfolio NEW YORK, NY 1,014,8571.0m $100.3m $100.3m 1.39% Added +14.8k +14,764
49 MML INVESTORS SERVICES, LLC 0.46% of their portfolio SPRINGFIELD, MA 1,007,3321.0m $99.6m $99.6m 0.46% Reduced -41.3k -41,329
50 U.S. Capital Wealth Advisors, LLC 3.76% of their portfolio AUSTIN, TX 959,473959.5k $94.9m $94.9m 3.76% Added +943.4k +943,376
51 US BANCORP \DE\ 0.13% of their portfolio MINNEAPOLIS, MN 878,146878.1k $86.8m $86.8m 0.13% Reduced -47.7k -47,740
52 Ally Financial Inc. 11.28% of their portfolio Detroit, MI 873,000873.0k $86.3m $86.3m 11.28% Unchanged
53 VICTORY CAPITAL MANAGEMENT INC 0.09% of their portfolio San Antonio, TX 847,840847.8k $83.8m $83.8m 0.09% Added +45.3k +45,258
54 FLOW TRADERS U.S. LLC 2.47% of their portfolio NEW YORK, NY 814,824814.8k $80.6m $80.6m 2.47% Added +557.9k +557,916
55 AE Wealth Management LLC 0.39% of their portfolio TOPEKA, KS 804,043804.0k $75.4m $75.4m 0.39% Reduced -225.2k -225,206
56 Cullen/Frost Bankers, Inc. 1.25% of their portfolio San Antonio, TX 802,929802.9k $79.4m $79.4m 1.25% Added +206.0k +205,962
57 Optiver Holding B.V. 2.37% of their portfolio AMSTERDAM, P7 802,653802.7k $79.4m $79.4m 2.37% Added +166.8k +166,846
58 MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 796,690796.7k $78.8m $78.8m 0.07% Added +242.0k +241,969
59 Harvest Portfolios Group Inc. 3.31% of their portfolio Oakville, A6 788,623788.6k $78.0m $78.0m 3.31% Added +734.0k +734,038
60 HANTZ FINANCIAL SERVICES, INC. 1.70% of their portfolio SOUTHFIELD, MI 787,095787.1k $77.8m $77.8m 1.70% Added +435.0k +434,958
61 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.09% of their portfolio MILWAUKEE, WI 776,898776.9k $76.8m $76.8m 0.09% Added +180.4k +180,394
62 CITIGROUP INC 0.10% of their portfolio NEW YORK, NY 759,121759.1k $75.1m $75.1m 0.10% Reduced -5.2m -5,182,365
63 IMC-Chicago, LLC 2.25% of their portfolio CHICAGO, IL 713,748713.7k $70.6m $70.6m 2.25% Added +449.7k +449,668
64 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio Toronto, A6 705,198705.2k $69.7m $69.7m 0.04% Reduced -919.5k -919,512
65 MKP Capital Management, L.L.C. 4.32% of their portfolio New York, NY 705,000705.0k $69.7m $69.7m 4.32% New
66 LIFE LINE WEALTH MANAGEMENT LLC 27.35% of their portfolio Beverly Hills, CA 698,484698.5k $69.1m $69.1m 27.35% First filing
67 SCHRODER INVESTMENT MANAGEMENT GROUP 0.08% of their portfolio London, X0 657,918657.9k $65.1m $65.1m 0.08% Reduced -46.6k -46,560
68 HighTower Advisors, LLC 0.11% of their portfolio CHICAGO, IL 657,802657.8k $65.0m $65.0m 0.11% Added +253.1k +253,145
69 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 648,577648.6k $65.1m $65.1m 0.02% Added +203.0k +202,974
70 AIA Group Ltd 2.50% of their portfolio HONG KONG, K3 615,741615.7k $60.9m $60.9m 2.50% Reduced -108.1k -108,084
71 AlTi Global, Inc. 1.76% of their portfolio NEW YORK, NY 583,121583.1k $57.7m $57.7m 1.76% First filing
72 Cetera Investment Advisers 0.46% of their portfolio SCHAUMBURG, IL 571,468571.5k $56.5m $56.5m 0.46% Reduced -206.2k -206,184
73 Balyasny Asset Management L.P. 0.16% of their portfolio Chicago, IL 570,028570.0k $56.4m $56.4m 0.16% Added +15.0k +15,016
74 CI INVESTMENTS INC. 0.28% of their portfolio TORONTO, Z4 556,307556.3k $55.0m $55.0m 0.28% Reduced -593.4k -593,382
75 Cetera Advisor Networks LLC 0.29% of their portfolio EL SEGUNDO, CA 534,187534.2k $52.8m $52.8m 0.29% Added +119.0k +119,037
76 Thrivent Financial for Lutherans 0.11% of their portfolio Minneapolis, MN 528,563528.6k $52.3m $52.3m 0.11% Added +86.5k +86,454
77 TIAA TRUST, NATIONAL ASSOCIATION 0.16% of their portfolio CHARLOTTE, NC 483,686483.7k $47.8m $47.8m 0.16% Added +422.3k +422,311
78 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.39% of their portfolio IRVING, TX 481,102481.1k $47.6m $47.6m 0.39% Added +457.2k +457,198
79 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.56% of their portfolio Madrid, U3 480,549480.5k $47.5m $47.5m 0.56% Reduced -79.1k -79,059
80 GTS SECURITIES LLC 1.02% of their portfolio NEW YORK, NY 478,944478.9k $47.4m $47.4m 1.02% Added +135.1k +135,141
81 Disciplina Capital Management LLC 8.88% of their portfolio NASHVILLE, TN 476,305476.3k $47.1m $47.1m 8.88% Added +19.0k +18,997
82 Ocean Park Asset Management, LLC 2.28% of their portfolio SANTA MONICA, CA 471,300471.3k $46.6m $46.6m 2.28% New
83 Atria Wealth Solutions, Inc. 0.54% of their portfolio NEW YORK, NY 431,058431.1k $42.6m $42.6m 0.54% Added +98.3k +98,284
84 Rockefeller Capital Management L.P. 0.14% of their portfolio NEW YORK, NY 419,791419.8k $41.5m $41.5m 0.14% Added +50.3k +50,271
85 University of Illinois Foundation 18.39% of their portfolio CHAMPAIGN, IL 419,412419.4k $41.5m $41.5m 18.39% First filing
86 CAPTRUST FINANCIAL ADVISORS 0.14% of their portfolio RALEIGH, NC 418,611418.6k $41.4m $41.4m 0.14% Reduced -1.3m -1,289,348
87 WNY Asset Management, LLC 6.97% of their portfolio Williamsville, NY 417,058417.1k $41.2m $41.2m 6.97% Added +137.4k +137,449
88 PRUDENTIAL PLC 0.43% of their portfolio LONDON, X0 411,588411.6k $40.7m $40.7m 0.43% Reduced -262.7k -262,705
89 CADINHA & CO LLC 6.48% of their portfolio HONOLULU, HI 410,564410.6k $40.6m $40.6m 6.48% New
90 Cambridge Investment Research Advisors, Inc. 0.17% of their portfolio FAIRFIELD, IA 404,654404.7k $40.0m $40.0m 0.17% Reduced -87.0k -86,950
91 Quotient Wealth Partners, LLC 1.55% of their portfolio DALLAS, TX 404,281404.3k $40.0m $40.0m 1.55% First filing
92 SUMMIT SECURITIES GROUP LLC 15.91% of their portfolio NEW YORK, NY 400,000400.0k $39.6m $39.6m 15.91% Added +396.7k +396,730
93 GM Advisory Group, LLC 2.97% of their portfolio MELVILLE, NY 397,161397.2k $39.3m $39.3m 2.97% Reduced -5.1k -5,147
94 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 385,278385.3k $38.1m $38.1m 0.00% Added +34.1k +34,059
95 Mirae Asset Global Investments Co., Ltd. 0.07% of their portfolio SEOUL, M5 365,718365.7k $36.2m $36.2m 0.07% Added +78.3k +78,317
96 Townsend & Associates, Inc 4.12% of their portfolio WESTMINSTER, CO 352,354352.4k $32.9m $32.9m 4.12% Added +163.0k +163,040
97 CX Institutional 1.85% of their portfolio AUBURN, IN 350,604350.6k $34.7m $34.7m 1.85% Reduced -2.1k -2,096
98 CPC Advisors, LLC 6.45% of their portfolio Atlanta, GA 350,185350.2k $34.6m $34.6m 6.45% Added +325.5k +325,479
99 Atria Investments, Inc 0.51% of their portfolio Charlotte, NC 336,034336.0k $33.2m $33.2m 0.51% Added +70.9k +70,931
100 Jordan Park Group LLC 2.27% of their portfolio SAN FRANCISCO, CA 333,731333.7k $33.0m $33.0m 2.27% Reduced -1.1m -1,120,446