Vault-13

ISHARES TR IBB

ISHARES BIOTECH · ETP · CUSIP 464287556 · ISIN US4642875565

925 institutional holders -35 vs Q4 2025
41,809,65541.8m shares reported held*
$7.0bnreported value*
55 new 269 added 292 reduced 92 sold out net bought ≈ $111.9m (+160.7k 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 ($4.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $168.40. Options: 14 managers hold calls ($102.3m notional), 9 hold puts ($193.1m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 830Q4 22: 905Q1 23: 867Q2 23: 845Q3 23: 837Q4 23: 878Q1 24: 903Q2 24: 902Q3 24: 898Q4 24: 880Q1 25: 839Q2 25: 801Q3 25: 804Q4 25: 960Q1 26: 925925Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022830
Q4 2022905
Q1 2023867
Q2 2023845
Q3 2023837
Q4 2023878
Q1 2024903
Q2 2024902
Q3 2024898
Q4 2024880
Q1 2025839
Q2 2025801
Q3 2025804
Q4 2025960
Q1 2026925

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q2 24: 264 bought or addedQ2 24: 398 cut or sold outQ3 24: 310 bought or addedQ3 24: 396 cut or sold outQ3 24Q4 24: 280 bought or addedQ4 24: 437 cut or sold outQ1 25: 239 bought or addedQ1 25: 440 cut or sold outQ1 25Q2 25: 185 bought or addedQ2 25: 433 cut or sold outQ3 25: 236 bought or addedQ3 25: 391 cut or sold outQ3 25Q4 25: 443 bought or addedQ4 25: 266 cut or sold outQ1 26: 324 bought or addedQ1 26: 384 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024264398
Q3 2024310396
Q4 2024280437
Q1 2025239440
Q2 2025185433
Q3 2025236391
Q4 2025443266
Q1 2026324384

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ2 25 calls: $221.1mQ2 25 puts: $183.9mQ2 25P/C 0.83Q3 25 calls: $205.4mQ3 25 puts: $257.0mQ3 25P/C 1.25Q4 25 calls: $291.1mQ4 25 puts: $260.0mQ4 25P/C 0.89Q1 26 calls: $102.3mQ1 26 puts: $193.1mQ1 26P/C 1.89
Numbers
QuarterCallsPutsP/C
Q2 2025$221.1m$183.9m0.83
Q3 2025$205.4m$257.0m1.25
Q4 2025$291.1m$260.0m0.89
Q1 2026$102.3m$193.1m1.89

Biggest buyers

JPMORGAN CHASE & CO Added +2,112,897+2.1m
BANK OF AMERICA CORP /DE/ Added +707,343+707.3k
Thrivent Financial for Lutherans Added +549,780+549.8k
D. E. Shaw & Co., Inc. Added +349,812+349.8k
BNP PARIBAS FINANCIAL MARKETS Added +296,106+296.1k
Henshaw Capital LLC New +120,000+120.0k
WELLS FARGO & COMPANY/MN Added +97,919+97.9k
GOLDMAN SACHS GROUP INC Added +71,760+71.8k
Cornerstone Advisors, LLC Added +59,007+59.0k
COMMERCE BANK Added +55,938+55.9k

Biggest sellers

TWO SIGMA INVESTMENTS, LP Reduced -917,200-917.2k
Corient Private Wealth LP Reduced -570,300-570.3k
MORGAN STANLEY Reduced -430,659-430.7k
LPL Financial LLC Reduced -267,810-267.8k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -242,512-242.5k
BARCLAYS PLC Reduced -221,207-221.2k
Aptus Capital Advisors, LLC Reduced -202,433-202.4k
Mirae Asset Global Investments Co., Ltd. Reduced -192,768-192.8k
Calamos Advisors LLC Sold out -168,310-168.3k
CITIGROUP INC Reduced -119,999-120.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $37.8m223.7k shares
CITADEL ADVISORS LLC Reduced $26.4m156.4k shares
JANE STREET GROUP, LLC Added $13.5m80.2k shares
Volterra Technologies LP Added $6.5m38.6k shares
J. Goldman & Co LP New $5.1m30.0k shares
BARCLAYS PLC New $4.6m27.4k shares
CAPSTONE INVESTMENT ADVISORS, LLC New $2.5m14.9k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $2.5m14.6k shares
Point72 Asset Management, L.P. Reduced $1.4m8.1k shares
UBS Group AG Unchanged $846.6k5.0k shares

Biggest puts

Sofinnova Investments, Inc. New $80.2m475.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $66.0m391.0k shares
JANE STREET GROUP, LLC Reduced $17.8m105.7k shares
CITADEL ADVISORS LLC Reduced $15.4m91.5k shares
Volterra Technologies LP Added $5.7m33.7k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $5.3m31.5k shares
Point72 Asset Management, L.P. Added $1.4m8.2k shares
Walleye Trading LLC Reduced $996.2k5.9k shares
MARSHALL WACE, LLP Added $219.5k1.3k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.09% of their portfolio CHARLOTTE, NC 7,259,5017.3m $1.2bn $1.2bn 0.09% Added +707.3k +707,343
2 CITIGROUP INC 0.55% of their portfolio NEW YORK, NY 5,122,6895.1m $865.0m $865.0m 0.55% Reduced -120.0k -119,999
3 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 2,773,4672.8m $468.3m $468.3m 0.03% Reduced -430.7k -430,659
4 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 2,460,9542.5m $398.3m $398.3m 0.03% Added +2.1m +2,112,897
5 BNP PARIBAS FINANCIAL MARKETS 0.27% of their portfolio PARIS, I0 2,429,5672.4m $410.2m $410.2m 0.27% Added +296.1k +296,106
6 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 1,275,8061.3m $215.4m $215.4m 0.03% Added +71.8k +71,760
7 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 1,226,6681.2m $207.1m $207.1m 0.06% Added +3.6k +3,618
8 RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio ST. PETERSBURG, FL 1,029,7091.0m $173.9m $173.9m 0.05% Added +35.4k +35,398
9 COMMERCE BANK 0.72% of their portfolio KANSAS CITY, MO 881,632881.6k $148.9m $148.9m 0.72% Added +55.9k +55,938
10 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 854,345854.3k $144.3m $144.3m 0.03% Added +97.9k +97,919
11 UBS Group AG 0.02% of their portfolio ZURICH, V8 814,290814.3k $137.5m $137.5m 0.02% Reduced -98.7k -98,745
12 Thrivent Financial for Lutherans 0.25% of their portfolio Minneapolis, MN 772,812772.8k $130.5m $130.5m 0.25% Added +549.8k +549,780
13 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 737,128737.1k $124.5m $124.5m 0.02% Added +7.4k +7,434
14 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 724,989725.0k $122.4m $122.4m 0.03% Reduced -267.8k -267,810
15 TRUIST FINANCIAL CORP 0.15% of their portfolio CHARLOTTE, NC 666,343666.3k $112.5m $112.5m 0.15% Added +24.3k +24,320
16 Janney Montgomery Scott LLC 0.27% of their portfolio PHILADELPHIA, PA 652,818652.8k $110.2m $110.2m 0.27% Added +33.3k +33,268
17 WestEnd Advisors, LLC 2.64% of their portfolio CHARLOTTE, NC 648,103648.1k $109.4m $109.4m 2.64% Added +18.4k +18,436
18 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.17% of their portfolio TORONTO, A6 596,000596.0k $100.6m $100.6m 0.17% Unchanged
19 TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio NEW YORK, NY 557,807557.8k $94.2m $94.2m 0.08% Reduced -917.2k -917,200
20 BARCLAYS PLC 0.03% of their portfolio LONDON, X0 450,734450.7k $76.1m $76.1m 0.03% Reduced -221.2k -221,207
21 D. E. Shaw & Co., Inc. 0.05% of their portfolio New York, NY 389,056389.1k $65.7m $65.7m 0.05% Added +349.8k +349,812
22 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 318,588318.6k $53.8m $53.8m 0.03% Reduced -6.4k -6,394
23 Jefferies Financial Group Inc. 0.62% of their portfolio NEW YORK, NY 302,307302.3k $51.0m $51.0m 0.62% Added +1.8k +1,849
24 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 226,236226.2k $38.2m $38.2m 0.02% Added +2.9k +2,926
25 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 157,318157.3k $26.6m $26.6m 0.02% Added +1.9k +1,898
26 Cornerstone Advisors, LLC 0.92% of their portfolio ASHEVILLE, NC 148,027148.0k $25.0m $25.0m 0.92% Added +59.0k +59,007
27 McElhenny Sheffield Capital Management, LLC 5.94% of their portfolio DALLAS, TX 142,013142.0k $24.0m $24.0m 5.94% Reduced -8.5k -8,490
28 Rockefeller Capital Management L.P. 0.04% of their portfolio NEW YORK, NY 136,949136.9k $23.1m $23.1m 0.04% Reduced -10.8k -10,758
29 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 132,371132.4k $22.4m $22.4m 0.03% Reduced -15.3k -15,276
30 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 128,530128.5k $21.7m $21.7m 0.02% Added +11.0k +10,994
31 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 123,319123.3k $20.8m $20.8m 0.02% Reduced -253 -253
32 ALBION FINANCIAL GROUP /UT 1.31% of their portfolio SALT LAKE CITY, UT 120,147120.1k $20.3m $20.3m 1.31% Added +410 +410
33 Henshaw Capital LLC 0.75% of their portfolio WOBURN, MA 120,000120.0k $20.3m $20.3m 0.75% New
34 Generali Investments CEE, investicni spolecnost, a.s. 1.03% of their portfolio PRAGUE, 2N 116,115116.1k $19.6m $19.6m 1.03% Unchanged
35 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 115,088115.1k $19.4m $19.4m 0.00% Reduced -488 -488
36 Erste Asset Management GmbH 0.16% of their portfolio VIENNA, C4 102,330102.3k $17.3m $17.3m 0.16% Unchanged
37 MML INVESTORS SERVICES, LLC 0.05% of their portfolio SPRINGFIELD, MA 98,96799.0k $16.7m $16.7m 0.05% Reduced -15.7k -15,716
38 INVESTMENT HOUSE LLC 0.86% of their portfolio REDONDO BEACH, CA 97,65497.7k $16.5m $16.5m 0.86% Reduced -263 -263
39 CANADA LIFE ASSURANCE Co 0.03% of their portfolio WINNIPEG, A2 95,16595.2k $16.2m $16.2m 0.03% Reduced -1.9k -1,908
40 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 95,03195.0k $16.1m $16.1m 0.02% Added +2.1k +2,130
41 MAI Capital Management 0.08% of their portfolio INDEPENDENCE, OH 81,83281.8k $13.8m $13.8m 0.08% Added +1.4k +1,371
42 CAPITAL FUND MANAGEMENT S.A. 0.12% of their portfolio PARIS, I0 81,29881.3k $13.7m $13.7m 0.12% Reduced -52.6k -52,603
43 ASSETMARK, INC 0.03% of their portfolio CONCORD, CA 76,71076.7k $13.0m $13.0m 0.03% Added +2.7k +2,681
44 APPLETON PARTNERS INC/MA 0.87% of their portfolio BOSTON, MA 74,01074.0k $12.5m $12.5m 0.87% Added +110 +110
45 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 72,43472.4k $12.2m $12.2m 0.01% Added +4.8k +4,816
46 Militia Capital Management LLC 0.92% of their portfolio AUSTIN, TX 72,30072.3k $12.2m $12.2m 0.92% First filing
47 FACTORY MUTUAL INSURANCE CO 0.13% of their portfolio WALTHAM, MA 71,00071.0k $12.0m $12.0m 0.13% Unchanged
48 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 70,90470.9k $12.0m $12.0m 0.01% Added +385 +385
49 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 69,76369.8k $11.8m $11.8m 0.02% Added +21.9k +21,881
50 Bronte Capital Management Pty Ltd. 1.26% of their portfolio Bondi Junction, C3 69,26569.3k $11.7m $11.7m 1.26% Reduced -3.1k -3,085
51 CUMBERLAND ADVISORS INC 4.21% of their portfolio SARASOTA, FL 63,75863.8k $10.8m $10.8m 4.21% Reduced -475 -475
52 DAFNA Capital Management LLC 2.39% of their portfolio LOS ANGELES, CA 62,09562.1k $10.5m $10.5m 2.39% Reduced -6.0k -6,000
53 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 62,07862.1k $10.5m $10.5m 0.01% Added +4.5k +4,533
54 Beacon Pointe Advisors, LLC 0.06% of their portfolio NEWPORT BEACH, CA 62,06662.1k $10.5m $10.5m 0.06% Added +10.3k +10,322
55 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 61,63461.6k $10.4m $10.4m 0.01% Reduced -242.5k -242,512
56 FOLGER NOLAN FLEMING DOUGLAS CAPITAL MANAGEMENT, INC 0.93% of their portfolio WASHINGTON, DC 61,49761.5k $10.4m $10.4m 0.93% Reduced -248 -248
57 Tradition Wealth Management, LLC 0.72% of their portfolio EDINA, MN 60,16160.2k $10.2m $10.2m 0.72% Added +2.6k +2,577
58 Apella Capital, LLC 0.15% of their portfolio WEST HARTFORD, CT 57,94057.9k $10.2m $10.2m 0.15% Added +346 +346
59 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 57,39457.4k $9.4m $9.4m 0.01% Reduced -570.3k -570,300
60 Virtue Capital Management, LLC 1.34% of their portfolio BRENTWOOD, TN 54,59554.6k $8.8m $8.8m 1.34% Added +1.2k +1,181
61 NTV Asset Management LLC 1.01% of their portfolio Charleston, WV 54,46454.5k $9.2m $9.2m 1.01% Added +231 +231
62 Independent Advisor Alliance 0.10% of their portfolio CHARLOTTE, NC 54,28454.3k $9.2m $9.2m 0.10% New
63 BROWN ADVISORY INC 0.01% of their portfolio BALTIMORE, MD 53,70353.7k $9.1m $9.1m 0.01% Reduced -309 -309
64 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 52,53152.5k $8.9m $8.9m 0.01% Added +5.6k +5,625
65 PEAPACK GLADSTONE FINANCIAL CORP 0.11% of their portfolio BEDMINSTER, NJ 51,48151.5k $8.7m $8.7m 0.11% Reduced -4.4k -4,428
66 Humankind Investments LLC 4.82% of their portfolio NEW YORK, NY 50,00050.0k $8.4m $8.4m 4.82% Reduced -4.5k -4,500
67 DAVENPORT & Co LLC 0.05% of their portfolio RICHMOND, VA 48,73848.7k $8.2m $8.2m 0.05% Added +6.3k +6,310
68 Summit Financial, LLC 0.10% of their portfolio PARSIPPANY, NJ 48,16848.2k $8.1m $8.1m 0.10% Added +7.5k +7,506
69 Kestra Advisory Services, LLC 0.03% of their portfolio AUSTIN, TX 47,46147.5k $8.0m $8.0m 0.03% Added +5.2k +5,155
70 Sanctuary Advisors, LLC 0.04% of their portfolio INDIANAPOLIS, IN 45,88145.9k $7.7m $7.7m 0.04% Added +6.1k +6,112
71 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 45,14745.1k $7.6m $7.6m 0.02% Reduced -23.6k -23,568
72 Pictet Asset Management Holding SA 0.01% of their portfolio CAROUGE, V8 44,45044.5k $7.2m $7.2m 0.01% Unchanged
73 FORBES J M & CO LLP 0.62% of their portfolio Boston, MA 43,68743.7k $7.4m $7.4m 0.62% Reduced -13 -13
74 Mariner, LLC 0.01% of their portfolio Overland Park, KS 43,56343.6k $7.4m $7.4m 0.01% Added +4.7k +4,663
75 NEVILLE RODIE & SHAW INC 0.51% of their portfolio NEW YORK, NY 41,88941.9k $7.1m $7.1m 0.51% Reduced -270 -270
76 SP Asset Management LLC 0.62% of their portfolio CUPERTINO, CA 41,57341.6k $7.0m $7.0m 0.62% Reduced -762 -762
77 First Interstate Bank 0.39% of their portfolio Billings, MT 41,08241.1k $6.9m $6.9m 0.39% Added +6.5k +6,465
78 Concurrent Investment Advisors, LLC 0.07% of their portfolio Tampa, FL 40,33240.3k $6.8m $6.8m 0.07% Added +4.6k +4,643
79 Steward Partners Investment Advisory, LLC 0.03% of their portfolio STAMFORD, CT 37,93937.9k $6.4m $6.4m 0.03% Added +1.6k +1,557
80 MMBG INVESTMENT ADVISORS CO. 0.59% of their portfolio MIAMI, FL 37,78737.8k $6.4m $6.4m 0.59% Reduced -320 -320
81 TOTH FINANCIAL ADVISORY CORP 0.70% of their portfolio LEESBURG, VA 37,49937.5k $6.3m $6.3m 0.70% Added +2.7k +2,654
82 Quantitative Investment Management, LLC 0.66% of their portfolio CHARLOTTESVILLE, VA 37,41937.4k $6.3m $6.3m 0.66% New
83 EQUITABLE TRUST CO 0.29% of their portfolio NASHVILLE, TN 37,29837.3k $6.3m $6.3m 0.29% New
84 Quadrature Capital Ltd 0.07% of their portfolio LONDON, X0 36,87236.9k $6.2m $6.2m 0.07% New
85 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 36,36336.4k $6.1m $6.1m 0.00% Added +402 +402
86 SSI INVESTMENT MANAGEMENT LLC 0.42% of their portfolio Los Angeles, CA 36,08136.1k $6.1m $6.1m 0.42% Reduced -23 -23
87 Tower Research Capital LLC (TRC) 0.16% of their portfolio NEW YORK, NY 35,94535.9k $6.1m $6.1m 0.16% Added +17.2k +17,217
88 IFP Advisors, Inc 0.13% of their portfolio TAMPA, FL 35,87335.9k $6.1m $6.1m 0.13% Added +15.4k +15,387
89 BEARING POINT CAPITAL, LLC 0.93% of their portfolio BLOOMINGTON, MN 35,21935.2k $5.9m $5.9m 0.93% Reduced -235 -235
90 Williams Jones Wealth Management, LLC. 0.07% of their portfolio NEW YORK, NY 35,21735.2k $5.9m $5.9m 0.07% Reduced -300 -300
91 Michelson Medical Research Foundation, Inc. 6.02% of their portfolio Los Angeles, CA 35,09535.1k $5.9m $5.9m 6.02% Unchanged
92 Miller Investment Management, LP 0.59% of their portfolio WEST CONSHOHOCKEN, PA 35,09335.1k $5.9m $5.9m 0.59% Reduced -2.4k -2,353
93 Addison Capital Co 0.99% of their portfolio Conshohocken, PA 33,04533.0k $5.6m $5.6m 0.99% Added +4.6k +4,569
94 Equitable Holdings, Inc. 0.04% of their portfolio NEW YORK, NY 33,00733.0k $5.6m $5.6m 0.04% Added +9.7k +9,715
95 Ashton Thomas Private Wealth, LLC 0.13% of their portfolio SCOTTSDALE, AZ 32,28432.3k $5.5m $5.5m 0.13% Reduced -3.5k -3,483
96 Colonial Trust Advisors 0.42% of their portfolio SPARTANBURG, SC 31,94731.9k $5.4m $5.4m 0.42% Reduced -1.4k -1,439
97 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 29,59229.6k $4.7m $4.7m 0.01% Reduced -9.1k -9,132
98 Howard Capital Management Group, LLC 0.33% of their portfolio Los Angeles, CA 29,18329.2k $4.9m $4.9m 0.33% Reduced -3.4k -3,369
99 Gladstone Institutional Advisory LLC 0.18% of their portfolio Bedminster, NJ 29,05729.1k $4.9m $4.9m 0.18% Reduced -42.0k -41,971
100 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 28,69828.7k $4.6m $4.6m 0.00% Added +4.8k +4,785