Vault-13

ISHARES TR IWP

RUS MD CP GR ETF · ETP · CUSIP 464287481

1,166 institutional holders -3 vs Q2 2025
113,184,319113.2m shares reported held*
$16.1bnreported value*
61 new 358 added 371 reduced 58 sold out net bought ≈ $1.4bn (+9.9m 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 ($4.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $142.47. Options: 5 managers hold calls ($23.8m notional), 5 hold puts ($38.1m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 815Q4 22: 890Q1 23: 886Q2 23: 921Q3 23: 927Q4 23: 1,019Q1 24: 1,042Q2 24: 1,023Q3 24: 1,026Q4 24: 1,140Q1 25: 1,092Q2 25: 1,169Q3 25: 1,1661,166Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022815
Q4 2022890
Q1 2023886
Q2 2023921
Q3 2023927
Q4 20231,019
Q1 20241,042
Q2 20241,023
Q3 20241,026
Q4 20241,140
Q1 20251,092
Q2 20251,169
Q3 20251,166

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q4 23: 435 bought or addedQ4 23: 316 cut or sold outQ1 24: 402 bought or addedQ1 24: 411 cut or sold outQ1 24Q2 24: 371 bought or addedQ2 24: 418 cut or sold outQ3 24: 392 bought or addedQ3 24: 389 cut or sold outQ3 24Q4 24: 430 bought or addedQ4 24: 363 cut or sold outQ1 25: 391 bought or addedQ1 25: 473 cut or sold outQ1 25Q2 25: 458 bought or addedQ2 25: 423 cut or sold outQ3 25: 419 bought or addedQ3 25: 429 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023435316
Q1 2024402411
Q2 2024371418
Q3 2024392389
Q4 2024430363
Q1 2025391473
Q2 2025458423
Q3 2025419429

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ4 24 calls: $10.7mQ4 24 puts: $1.7mQ4 24P/C 0.16Q1 25 calls: $15.5mQ1 25 puts: $10.9mQ1 25P/C 0.70Q2 25 calls: $27.2mQ2 25 puts: $47.1mQ2 25P/C 1.73Q3 25 calls: $23.8mQ3 25 puts: $38.1mQ3 25P/C 1.60
Numbers
QuarterCallsPutsP/C
Q4 2024$10.7m$1.7m0.16
Q1 2025$15.5m$10.9m0.70
Q2 2025$27.2m$47.1m1.73
Q3 2025$23.8m$38.1m1.60

Biggest buyers

First Command Advisory Services, Inc. Added +3,550,122+3.6m
ENVESTNET ASSET MANAGEMENT INC Added +3,406,598+3.4m
VANTAGEPOINT INVESTMENT ADVISERS LLC New +1,895,296+1.9m
JPMORGAN CHASE & CO Added +793,263+793.3k
MORGAN STANLEY Added +452,858+452.9k
JONES FINANCIAL COMPANIES LLLP Added +345,906+345.9k
BNP PARIBAS FINANCIAL MARKETS Added +253,151+253.2k
Cetera Investment Advisers Added +248,430+248.4k
Cullen/Frost Bankers, Inc. Added +238,826+238.8k
Envestnet Portfolio Solutions, Inc. Added +217,051+217.1k

Biggest sellers

ROYAL BANK OF CANADA Reduced -614,856-614.9k
BANK OF AMERICA CORP /DE/ Reduced -454,797-454.8k
BARCLAYS PLC Reduced -270,900-270.9k
Rockefeller Capital Management L.P. Reduced -186,842-186.8k
HSBC HOLDINGS PLC Sold out -176,897-176.9k
TIAA TRUST, NATIONAL ASSOCIATION Reduced -111,900-111.9k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -105,987-106.0k
WELLINGTON MANAGEMENT GROUP LLP Sold out -103,956-104.0k
AE Wealth Management LLC Reduced -76,458-76.5k
VOYA INVESTMENT MANAGEMENT LLC Reduced -73,352-73.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $9.1m63.8k shares
Cubist Systematic Strategies, LLC Reduced $5.1m35.6k shares
JANE STREET GROUP, LLC Added $4.1m29.0k shares
CITADEL ADVISORS LLC Reduced $3.6m25.3k shares
WOLVERINE TRADING, LLC New $1.9m13.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $25.8m181.2k shares
Cubist Systematic Strategies, LLC Reduced $6.8m47.8k shares
CITADEL ADVISORS LLC Added $2.6m18.5k shares
WOLVERINE TRADING, LLC Added $1.9m13.0k shares
JANE STREET GROUP, LLC Added $954.1k6.7k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.17% of their portfolio NEW YORK, NY 19,819,97719.8m $2.8bn $2.8bn 0.17% Added +452.9k +452,858
2 BANK OF AMERICA CORP /DE/ 0.07% of their portfolio CHARLOTTE, NC 6,170,3606.2m $878.7m $878.7m 0.07% Reduced -454.8k -454,797
3 JONES FINANCIAL COMPANIES LLLP 0.54% of their portfolio DES PERES, MO 5,577,7465.6m $795.0m $795.0m 0.54% Added +345.9k +345,906
4 ENVESTNET ASSET MANAGEMENT INC 0.22% of their portfolio Berwyn, PA 5,397,3765.4m $768.6m $768.6m 0.22% Added +3.4m +3,406,598
5 WELLS FARGO & COMPANY/MN 0.15% of their portfolio SAN FRANCISCO, CA 5,229,2005.2m $744.7m $744.7m 0.15% Added +60.4k +60,401
6 First Command Advisory Services, Inc. 3.67% of their portfolio FORT WORTH, TX 3,554,5383.6m $506.2m $506.2m 3.67% Added +3.6m +3,550,122
7 AMERIPRISE FINANCIAL INC 0.08% of their portfolio MINNEAPOLIS, MN 2,551,0802.6m $363.3m $363.3m 0.08% Added +26.3k +26,261
8 LPL Financial LLC 0.10% of their portfolio FORT MILL, SC 2,455,1582.5m $349.6m $349.6m 0.10% Added +86.2k +86,160
9 PNC Financial Services Group, Inc. 0.21% of their portfolio Pittsburgh, PA 2,445,5682.4m $348.3m $348.3m 0.21% Reduced -18.9k -18,890
10 TIAA TRUST, NATIONAL ASSOCIATION 0.84% of their portfolio CHARLOTTE, NC 2,428,8972.4m $345.9m $345.9m 0.84% Reduced -111.9k -111,900
11 COMMONWEALTH EQUITY SERVICES, LLC 0.44% of their portfolio WALTHAM, MA 2,392,3792.4m $340.7m $340.7m 0.44% Reduced -106.0k -105,987
12 UBS Group AG 0.06% of their portfolio ZURICH, V8 2,315,3762.3m $329.7m $329.7m 0.06% Added +31.6k +31,610
13 Cassaday & Co Wealth Management LLC 6.95% of their portfolio MCLEAN, VA 2,118,2032.1m $301.7m $301.7m 6.95% Added +8.1k +8,121
14 VANTAGEPOINT INVESTMENT ADVISERS LLC 2.20% of their portfolio WASHINGTON, DC 1,895,2961.9m $269.9m $269.9m 2.20% New
15 Envestnet Portfolio Solutions, Inc. 0.96% of their portfolio BERWYN, PA 1,821,5061.8m $259.4m $259.4m 0.96% Added +217.1k +217,051
16 FIRST CITIZENS BANK & TRUST CO 5.21% of their portfolio RALEIGH, NC 1,697,7451.7m $241.8m $241.8m 5.21% Added +211.2k +211,174
17 COMMERCE BANK 1.32% of their portfolio KANSAS CITY, MO 1,662,3681.7m $236.7m $236.7m 1.32% Reduced -60.4k -60,387
18 US BANCORP \DE\ 0.26% of their portfolio MINNEAPOLIS, MN 1,567,4961.6m $223.2m $223.2m 0.26% Reduced -5.3k -5,330
19 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,462,8381.5m $208.3m $208.3m 0.01% Added +793.3k +793,263
20 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.13% of their portfolio MILWAUKEE, WI 1,328,1991.3m $189.1m $189.1m 0.13% Reduced -20.3k -20,295
21 Cullen/Frost Bankers, Inc. 1.98% of their portfolio San Antonio, TX 1,194,8621.2m $170.2m $170.2m 1.98% Added +238.8k +238,826
22 FMR LLC 0.01% of their portfolio BOSTON, MA 1,174,6481.2m $167.3m $167.3m 0.01% Added +6.5k +6,543
23 OSAIC HOLDINGS, INC. 0.22% of their portfolio SCOTTSDALE, AZ 1,118,6421.1m $159.6m $159.6m 0.22% Added +59.1k +59,129
24 RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio ST. PETERSBURG, FL 901,525901.5k $128.4m $128.4m 0.04% Added +99.6k +99,624
25 Financial Advisory Corp 15.55% of their portfolio Grand Rapids, MI 741,438741.4k $105.6m $105.6m 15.55% Reduced -15.7k -15,654
26 Pacific Life Fund Advisors LLC 10.26% of their portfolio NEWPORT BEACH, CA 701,989702.0k $100.0m $100.0m 10.26% Reduced -61.2k -61,177
27 TRUIST FINANCIAL CORP 0.13% of their portfolio CHARLOTTE, NC 676,290676.3k $96.3m $96.3m 0.13% Reduced -3.2k -3,243
28 Cetera Investment Advisers 0.11% of their portfolio SCHAUMBURG, IL 667,880667.9k $95.1m $95.1m 0.11% Added +248.4k +248,430
29 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 651,550651.5k $92.8m $92.8m 0.02% Reduced -614.9k -614,856
30 CIBC Private Wealth Group LLC 0.16% of their portfolio ATLANTA, GA 642,422642.4k $91.5m $91.5m 0.16% Reduced -9.0k -9,030
31 Mariner, LLC 0.11% of their portfolio Overland Park, KS 618,245618.2k $88.0m $88.0m 0.11% Reduced -14.2k -14,185
32 Focus Partners Wealth 0.13% of their portfolio ST LOUIS, MO 571,828571.8k $81.4m $81.4m 0.13% Added +140.5k +140,490
33 STEPHENS INC /AR/ 0.99% of their portfolio LITTLE ROCK, AR 544,940544.9k $77.6m $77.6m 0.99% Added +2.4k +2,448
34 STEPHENS GROUP ASSET MANAGEMENT, LLC 5.15% of their portfolio LITTLE ROCK, AR 536,543536.5k $76.4m $76.4m 5.15% Added +7.6k +7,640
35 Equitable Holdings, Inc. 0.54% of their portfolio NEW YORK, NY 515,677515.7k $73.4m $73.4m 0.54% Added +6.2k +6,229
36 American Family Investments, Inc. 3.75% of their portfolio MADISON, WI 502,798502.8k $71.6m $71.6m 3.75% Reduced -20.5k -20,496
37 BNP PARIBAS FINANCIAL MARKETS 0.06% of their portfolio PARIS, I0 501,000501.0k $71.3m $71.3m 0.06% Added +253.2k +253,151
38 ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ 3.35% of their portfolio SALT LAKE CITY, UT 475,310475.3k $67.7m $67.7m 3.35% Reduced -20.7k -20,693
39 Rodgers & Associates, LTD 6.02% of their portfolio Lancaster, PA 410,026410.0k $58.4m $58.4m 6.02% Reduced -11.2k -11,163
40 JOHNSON INVESTMENT COUNSEL INC 0.48% of their portfolio Cincinnati, OH 402,757402.8k $57.4m $57.4m 0.48% Reduced -2.1k -2,132
41 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 400,641400.6k $57.1m $57.1m 0.01% Reduced -7.3k -7,270
42 Creative Planning 0.04% of their portfolio OVERLAND PARK, KS 384,009384.0k $54.7m $54.7m 0.04% Reduced -5.9k -5,936
43 GLOBALT Investments LLC / GA 2.00% of their portfolio Atlanta, GA 383,970384.0k $54.7m $54.7m 2.00% Reduced -8.3k -8,298
44 Wescott Financial Advisory Group, LLC 4.32% of their portfolio Philadelphia, PA 338,238338.2k $48.2m $48.2m 4.32% Reduced -10.1k -10,135
45 AMG National Trust Bank 1.16% of their portfolio GREENWOOD VILLAGE, CO 334,634334.6k $47.7m $47.7m 1.16% Added +4.7k +4,721
46 HighTower Advisors, LLC 0.05% of their portfolio CHICAGO, IL 332,205332.2k $47.3m $47.3m 0.05% Added +91.7k +91,690
47 Integrated Investment Consultants, LLC 8.02% of their portfolio BLOOMFIELD HILLS, MI 331,728331.7k $47.2m $47.2m 8.02% Reduced -2.3k -2,275
48 M&T Bank Corp 0.15% of their portfolio BUFFALO, NY 314,036314.0k $44.7m $44.7m 0.15% Reduced -4.4k -4,354
49 Truepoint, Inc. 0.95% of their portfolio CINCINNATI, OH 286,402286.4k $40.8m $40.8m 0.95% Reduced -2.2k -2,244
50 COMERICA BANK 0.15% of their portfolio DALLAS, TX 285,797285.8k $40.7m $40.7m 0.15% Added +10.8k +10,809
51 Cambridge Investment Research Advisors, Inc. 0.11% of their portfolio FAIRFIELD, IA 279,512279.5k $39.8m $39.8m 0.11% Added +12.4k +12,378
52 Wealthspire Advisors, LLC 0.20% of their portfolio NEW YORK, NY 273,026273.0k $38.9m $38.9m 0.20% Added +544 +544
53 Cedar Mountain Advisors, LLC 7.54% of their portfolio LAKE OSWEGO, OR 272,064272.1k $38.7m $38.7m 7.54% Reduced -10.7k -10,746
54 Krilogy Financial LLC 1.40% of their portfolio ST. LOUIS, MO 266,847266.8k $37.2m $37.2m 1.40% Added +27.0k +27,036
55 BANK OF HAWAII 1.71% of their portfolio HONOLULU, HI 240,446240.4k $34.2m $34.2m 1.71% Added +5.8k +5,839
56 MONETA GROUP INVESTMENT ADVISORS LLC 0.27% of their portfolio ST LOUIS, MO 237,990238.0k $33.9m $33.9m 0.27% Added +1.3k +1,292
57 Badgley Phelps Wealth Managers, LLC 0.71% of their portfolio SEATTLE, WA 236,619236.6k $33.7m $33.7m 0.71% Added +1.6k +1,561
58 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 232,952233.0k $33.2m $33.2m 0.05% Added +19.5k +19,533
59 Lido Advisors, LLC 0.13% of their portfolio Los Angeles, CA 214,572214.6k $30.6m $30.6m 0.13% Added +5.1k +5,104
60 CONGRESS ASSET MANAGEMENT CO 0.20% of their portfolio BOSTON, MA 210,106210.1k $29.9m $29.9m 0.20% Added +58.6k +58,633
61 RTD Financial Advisors, Inc. 3.57% of their portfolio Philadelphia, PA 208,332208.3k $29.7m $29.7m 3.57% Reduced -7.3k -7,254
62 Jacobi Capital Management LLC 1.80% of their portfolio PITTSTON, PA 207,892207.9k $29.6m $29.6m 1.80% Added +1.7k +1,690
63 FIFTH THIRD BANCORP 0.09% of their portfolio CINCINNATI, OH 206,409206.4k $29.4m $29.4m 0.09% Reduced -5.1k -5,147
64 OPPENHEIMER & CO INC 0.36% of their portfolio NEW YORK, NY 204,544204.5k $29.1m $29.1m 0.36% Reduced -2.8k -2,767
65 Accredited Investors Inc. 1.59% of their portfolio EDINA, MN 200,795200.8k $28.6m $28.6m 1.59% Reduced -5.4k -5,435
66 Rockefeller Capital Management L.P. 0.05% of their portfolio NEW YORK, NY 196,092196.1k $27.9m $27.9m 0.05% Reduced -186.8k -186,842
67 Orion Porfolio Solutions, LLC 0.22% of their portfolio OMAHA, NE 195,024195.0k $27.8m $27.8m 0.22% Reduced -67.3k -67,285
68 SVB WEALTH LLC 1.46% of their portfolio BOSTON, MA 190,430190.4k $27.1m $27.1m 1.46% Added +11.0k +11,033
69 NATIXIS ADVISORS, LLC 0.04% of their portfolio Boston, MA 185,143185.1k $26.4m $26.4m 0.04% Added +28.1k +28,144
70 GenWealth Group, Inc. 4.90% of their portfolio Maplewood, NJ 184,910184.9k $26.3m $26.3m 4.90% Reduced -7.4k -7,392
71 HANTZ FINANCIAL SERVICES, INC. 0.39% of their portfolio SOUTHFIELD, MI 181,459181.5k $25.8m $25.8m 0.39% Added +12.6k +12,599
72 BOKF, NA 0.38% of their portfolio TULSA, OK 176,804176.8k $25.2m $25.2m 0.38% Added +2.8k +2,806
73 KEYBANK NATIONAL ASSOCIATION/OH 0.09% of their portfolio BROOKLYN, OH 175,839175.8k $25.0m $25.0m 0.09% Reduced -14.5k -14,469
74 Sanctuary Advisors, LLC 0.07% of their portfolio INDIANAPOLIS, IN 175,795175.8k $23.1m $23.1m 0.07% Added +83.3k +83,265
75 Steward Partners Investment Advisory, LLC 0.14% of their portfolio STAMFORD, CT 173,791173.8k $24.7m $24.7m 0.14% Added +13.6k +13,550
76 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 170,532170.5k $24.3m $24.3m 0.06% Reduced -12.6k -12,621
77 Waverly Advisors, LLC 0.23% of their portfolio BIRMINGHAM, AL 165,109165.1k $23.5m $23.5m 0.23% Added +9.4k +9,360
78 Corient Private Wealth LP 0.04% of their portfolio MIAMI, FL 162,590162.6k $23.2m $23.2m 0.04% Added +5.2k +5,216
79 Kestra Advisory Services, LLC 0.11% of their portfolio AUSTIN, TX 161,512161.5k $23.0m $23.0m 0.11% Added +38.0k +38,000
80 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 154,812154.8k $22.0m $22.0m 0.01% Reduced -2.0k -1,957
81 Midwest Trust Co 0.28% of their portfolio Overland Park, KS 153,503153.5k $21.9m $21.9m 0.28% Added +24.3k +24,348
82 CAPTRUST FINANCIAL ADVISORS 0.04% of their portfolio RALEIGH, NC 150,315150.3k $21.4m $21.4m 0.04% Reduced -3.1k -3,095
83 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 149,742149.7k $21.3m $21.3m 0.02% Added +11.4k +11,403
84 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 147,253147.3k $21.0m $21.0m 0.00% Reduced -10.3k -10,318
85 BROWN ADVISORY INC 0.03% of their portfolio BALTIMORE, MD 144,660144.7k $20.6m $20.6m 0.03% Added +106.5k +106,537
86 Bishop & Co Investment Management, LLC 6.83% of their portfolio Erie, PA 143,469143.5k $20.4m $20.4m 6.83% Reduced -136 -136
87 Mesirow Financial Investment Management, Inc. 0.36% of their portfolio CHICAGO, IL 142,861142.9k $20.3m $20.3m 0.36% Added +1.1k +1,077
88 KESTRA PRIVATE WEALTH SERVICES, LLC 0.26% of their portfolio AUSTIN, TX 139,505139.5k $19.9m $19.9m 0.26% Added +4.0k +3,974
89 SYNOVUS FINANCIAL CORP 0.22% of their portfolio Columbus, GA 136,009136.0k $19.4m $19.4m 0.22% Added +1.7k +1,716
90 Whitaker-Myers Wealth Managers, LTD. 4.22% of their portfolio Mansfield, OH 135,831135.8k $19.3m $19.3m 4.22% Added +7.1k +7,128
91 Financial Partners Group, Inc 2.40% of their portfolio Overland Park, KS 135,561135.6k $19.3m $19.3m 2.40% Added +147 +147
92 Mechanics Bank Trust Department 2.71% of their portfolio Walnut Creek, CA 135,359135.4k $19.3m $19.3m 2.71% Added +13.7k +13,692
93 One Capital Management, LLC 0.61% of their portfolio WESTLAKE VILLAGE, CA 133,471133.5k $19.0m $19.0m 0.61% Reduced -22.1k -22,069
94 MAI Capital Management 0.12% of their portfolio INDEPENDENCE, OH 133,346133.3k $19.0m $19.0m 0.12% Reduced -445 -445
95 Private Advisor Group, LLC 0.09% of their portfolio MORRISTOWN, NJ 133,334133.3k $19.0m $19.0m 0.09% Reduced -646 -646
96 LBJ Family Wealth Advisors, Ltd. 10.34% of their portfolio AUSTIN, TX 133,197133.2k $19.0m $19.0m 10.34% Reduced -3.0k -2,967
97 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 130,099130.1k $18.5m $18.5m 0.03% Added +14.1k +14,061
98 FSA Wealth Management LLC 6.74% of their portfolio Needham, MA 129,327129.3k $18.4m $18.4m 6.74% Reduced -1.9k -1,876
99 Pinnacle Financial Partners Inc 0.43% of their portfolio Nashville, TN 125,430125.4k $17.9m $17.9m 0.43% Added +3.9k +3,949
100 Falcon Wealth Planning 1.59% of their portfolio Ontario, CA 123,899123.9k $17.6m $17.6m 1.59% Added +4.1k +4,081