Vault-13

ISHARES TR IWD

RUS 1000 VAL ETF · ETP · CUSIP 464287598

1,755 institutional holders +15 vs Q2 2025
263,504,896263.5m shares reported held*
$53.6bnreported value*
94 new 554 added 623 reduced 65 sold out net bought ≈ $729.6m (+3.5m 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 ($120.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $203.60. Options: 5 managers hold calls ($67.8m notional), 7 hold puts ($1.1bn).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,324Q4 22: 1,464Q1 23: 1,413Q2 23: 1,427Q3 23: 1,448Q4 23: 1,561Q1 24: 1,543Q2 24: 1,525Q3 24: 1,586Q4 24: 1,739Q1 25: 1,723Q2 25: 1,740Q3 25: 1,7551,755Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 20221,324
Q4 20221,464
Q1 20231,413
Q2 20231,427
Q3 20231,448
Q4 20231,561
Q1 20241,543
Q2 20241,525
Q3 20241,586
Q4 20241,739
Q1 20251,723
Q2 20251,740
Q3 20251,755

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 23: 627 bought or addedQ4 23: 583 cut or sold outQ1 24: 527 bought or addedQ1 24: 726 cut or sold outQ1 24Q2 24: 562 bought or addedQ2 24: 630 cut or sold outQ3 24: 638 bought or addedQ3 24: 576 cut or sold outQ3 24Q4 24: 736 bought or addedQ4 24: 556 cut or sold outQ1 25: 634 bought or addedQ1 25: 764 cut or sold outQ1 25Q2 25: 697 bought or addedQ2 25: 669 cut or sold outQ3 25: 648 bought or addedQ3 25: 688 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023627583
Q1 2024527726
Q2 2024562630
Q3 2024638576
Q4 2024736556
Q1 2025634764
Q2 2025697669
Q3 2025648688

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ4 24 calls: $241.6mQ4 24 puts: $202.0mQ4 24P/C 0.84Q1 25 calls: $114.4mQ1 25 puts: $1.1bnQ1 25P/C 9.68Q2 25 calls: $138.4mQ2 25 puts: $1.1bnQ2 25P/C 7.70Q3 25 calls: $67.8mQ3 25 puts: $1.1bnQ3 25P/C 15.87
Numbers
QuarterCallsPutsP/C
Q4 2024$241.6m$202.0m0.84
Q1 2025$114.4m$1.1bn9.68
Q2 2025$138.4m$1.1bn7.70
Q3 2025$67.8m$1.1bn15.87

Biggest buyers

JPMORGAN CHASE & CO Added +8,672,524+8.7m
PRUDENTIAL FINANCIAL INC Added +1,396,735+1.4m
FMR LLC Added +1,018,449+1.0m
MORGAN STANLEY Added +703,830+703.8k
Baird Financial Group, Inc. Added +343,503+343.5k
Thrivent Financial for Lutherans Added +250,498+250.5k
Nuveen, LLC Added +243,168+243.2k
FRANKLIN RESOURCES INC Added +190,293+190.3k
RAYMOND JAMES FINANCIAL INC Added +176,135+176.1k
Cetera Investment Advisers Added +169,910+169.9k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -4,154,169-4.2m
ROYAL BANK OF CANADA Reduced -2,020,776-2.0m
Rockefeller Capital Management L.P. Reduced -1,096,418-1.1m
JONES FINANCIAL COMPANIES LLLP Reduced -549,165-549.2k
STIFEL FINANCIAL CORP Reduced -289,131-289.1k
BANK OF AMERICA CORP /DE/ Reduced -246,285-246.3k
BNP PARIBAS FINANCIAL MARKETS Reduced -189,263-189.3k
Financial Engines Advisors L.L.C. Reduced -179,784-179.8k
M&T Bank Corp Reduced -178,678-178.7k
UBS Group AG Reduced -135,586-135.6k

Biggest calls

UBS Group AG Reduced $40.7m200.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $14.4m70.7k shares
CITADEL ADVISORS LLC Reduced $9.3m45.6k shares
Parallax Volatility Advisers, L.P. Reduced $1.7m8.4k shares
JANE STREET GROUP, LLC Reduced $1.6m8.1k shares

Biggest puts

Elliott Investment Management L.P. Unchanged $1.0bn5.0m shares
UBS Group AG Reduced $40.7m200.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $14.1m69.4k shares
Parallax Volatility Advisers, L.P. Reduced $1.4m6.9k shares
CITADEL ADVISORS LLC Reduced $712.6k3.5k shares
JANE STREET GROUP, LLC Reduced $285.0k1.4k shares
Smith & Howard Wealth Management, LLC New $87.5k500 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 BANK OF AMERICA CORP /DE/ 0.76% of their portfolio CHARLOTTE, NC 49,570,53849.6m $10.1bn $10.1bn 0.76% Reduced -246.3k -246,285
2 MORGAN STANLEY 0.45% of their portfolio NEW YORK, NY 36,383,11136.4m $7.4bn $7.4bn 0.45% Added +703.8k +703,830
3 JPMORGAN CHASE & CO 0.12% of their portfolio NEW YORK, NY 17,825,52417.8m $3.6bn $3.6bn 0.12% Added +8.7m +8,672,524
4 GOLDMAN SACHS GROUP INC 0.33% of their portfolio NEW YORK, NY 11,328,82711.3m $2.3bn $2.3bn 0.33% Reduced -4.2m -4,154,169
5 FMR LLC 0.10% of their portfolio BOSTON, MA 9,860,1289.9m $2.0bn $2.0bn 0.10% Added +1.0m +1,018,449
6 Financial Engines Advisors L.L.C. 3.33% of their portfolio SANTA CLARA, CA 8,578,2878.6m $1.7bn $1.7bn 3.33% Reduced -179.8k -179,784
7 UBS Group AG 0.31% of their portfolio ZURICH, V8 7,678,6707.7m $1.6bn $1.6bn 0.31% Reduced -135.6k -135,586
8 ENVESTNET ASSET MANAGEMENT INC 0.39% of their portfolio Berwyn, PA 6,693,2456.7m $1.4bn $1.4bn 0.39% Added +93.5k +93,461
9 Baird Financial Group, Inc. 1.84% of their portfolio MILWAUKEE, WI 5,618,7855.6m $1.1bn $1.1bn 1.84% Added +343.5k +343,503
10 RAYMOND JAMES FINANCIAL INC 0.34% of their portfolio ST. PETERSBURG, FL 5,154,9265.2m $1.0bn $1.0bn 0.34% Added +176.1k +176,135
11 WELLS FARGO & COMPANY/MN 0.20% of their portfolio SAN FRANCISCO, CA 4,900,5394.9m $997.7m $997.7m 0.20% Reduced -86.7k -86,743
12 NORTHERN TRUST CORP 0.13% of their portfolio CHICAGO, IL 4,886,2904.9m $994.8m $994.8m 0.13% Added +162.8k +162,782
13 LPL Financial LLC 0.25% of their portfolio FORT MILL, SC 4,201,7944.2m $855.4m $855.4m 0.25% Added +36.6k +36,569
14 PRUDENTIAL FINANCIAL INC 0.92% of their portfolio NEWARK, NJ 3,810,6423.8m $775.8m $775.8m 0.92% Added +1.4m +1,396,735
15 M&T Bank Corp 2.57% of their portfolio BUFFALO, NY 3,752,3513.8m $763.9m $763.9m 2.57% Reduced -178.7k -178,678
16 PNC Financial Services Group, Inc. 0.42% of their portfolio Pittsburgh, PA 3,391,6703.4m $690.5m $690.5m 0.42% Reduced -21.1k -21,123
17 SYNOVUS FINANCIAL CORP 7.55% of their portfolio Columbus, GA 3,240,0133.2m $659.6m $659.6m 7.55% Added +3.8k +3,839
18 Jasper Ridge Partners, L.P. 11.57% of their portfolio MENLO PARK, CA 2,524,6842.5m $514.0m $514.0m 11.57% Unchanged
19 TRUIST FINANCIAL CORP 0.62% of their portfolio CHARLOTTE, NC 2,238,9262.2m $455.8m $455.8m 0.62% Reduced -19.5k -19,485
20 ROYAL BANK OF CANADA 0.08% of their portfolio TORONTO, A6 2,097,6562.1m $427.1m $427.1m 0.08% Reduced -2.0m -2,020,776
21 COMMONWEALTH EQUITY SERVICES, LLC 0.49% of their portfolio WALTHAM, MA 1,861,3201.9m $378.9m $378.9m 0.49% Reduced -135.1k -135,101
22 GLOBALT Investments LLC / GA 12.66% of their portfolio Atlanta, GA 1,703,2941.7m $346.8m $346.8m 12.66% Reduced -28.9k -28,893
23 STIFEL FINANCIAL CORP 0.28% of their portfolio ST. LOUIS, MO 1,516,2611.5m $308.7m $308.7m 0.28% Reduced -289.1k -289,131
24 JONES FINANCIAL COMPANIES LLLP 0.21% of their portfolio DES PERES, MO 1,488,2821.5m $302.1m $302.1m 0.21% Reduced -549.2k -549,165
25 Stairway Partners, LLC 14.19% of their portfolio MINNEAPOLIS, MN 1,312,1351.3m $267.1m $267.1m 14.19% Added +22.5k +22,540
26 Cetera Investment Advisers 0.31% of their portfolio SCHAUMBURG, IL 1,311,9201.3m $267.1m $267.1m 0.31% Added +169.9k +169,910
27 CITIGROUP INC 0.18% of their portfolio NEW YORK, NY 1,296,5451.3m $264.0m $264.0m 0.18% Reduced -20.8k -20,830
28 AMERIPRISE FINANCIAL INC 0.06% of their portfolio MINNEAPOLIS, MN 1,185,1231.2m $241.2m $241.2m 0.06% Reduced -37.1k -37,126
29 TIAA TRUST, NATIONAL ASSOCIATION 0.57% of their portfolio CHARLOTTE, NC 1,150,5261.2m $234.0m $234.0m 0.57% Reduced -22.3k -22,332
30 Rockefeller Capital Management L.P. 0.45% of their portfolio NEW YORK, NY 1,121,1821.1m $228.3m $228.3m 0.45% Reduced -1.1m -1,096,418
31 Pacific Life Fund Advisors LLC 22.54% of their portfolio NEWPORT BEACH, CA 1,079,0131.1m $219.7m $219.7m 22.54% Reduced -27.7k -27,729
32 HighTower Advisors, LLC 0.24% of their portfolio CHICAGO, IL 1,058,4991.1m $215.5m $215.5m 0.24% Added +64.3k +64,323
33 COMERICA BANK 0.74% of their portfolio DALLAS, TX 960,531960.5k $195.6m $195.6m 0.74% Reduced -45.7k -45,720
34 NorthCoast Asset Management LLC 0.73% of their portfolio STAMFORD, CT 916,955917.0k $186.7m $186.7m 0.73% Reduced -4.0k -3,965
35 Waldron Private Wealth LLC 7.35% of their portfolio BRIDGEVILLE, PA 891,065891.1k $181.4m $181.4m 7.35% Reduced -1.4k -1,353
36 Corient Private Wealth LP 0.26% of their portfolio MIAMI, FL 822,701822.7k $167.5m $167.5m 0.26% Added +37.0k +37,009
37 OAKWORTH CAPITAL, INC. 9.52% of their portfolio BIRMINGHAM, AL 809,233809.2k $164.8m $164.8m 9.52% Added +15.1k +15,075
38 US BANCORP \DE\ 0.19% of their portfolio MINNEAPOLIS, MN 768,594768.6k $156.5m $156.5m 0.19% Reduced -77.3k -77,260
39 COMMERCE BANK 0.81% of their portfolio KANSAS CITY, MO 717,126717.1k $146.0m $146.0m 0.81% Reduced -40.5k -40,545
40 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 712,488712.5k $145.1m $145.1m 0.03% Added +32.0k +32,010
41 1ST SOURCE BANK 7.36% of their portfolio SOUTH BEND, IN 686,114686.1k $139.7m $139.7m 7.36% Added +8.7k +8,737
42 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.20% of their portfolio PLYMOUTH, MN 650,121650.1k $133.0m $133.0m 0.20% Reduced -33.9k -33,883
43 STEPHENS INC /AR/ 1.63% of their portfolio LITTLE ROCK, AR 628,770628.8k $128.0m $128.0m 1.63% Added +4.8k +4,850
44 OSAIC HOLDINGS, INC. 0.17% of their portfolio SCOTTSDALE, AZ 612,154612.2k $124.1m $124.1m 0.17% Added +32.4k +32,426
45 Circle Wealth Management, LLC 2.41% of their portfolio SUMMIT, NJ 607,633607.6k $123.7m $123.7m 2.41% Unchanged
46 AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio KANSAS CITY, MO 589,703589.7k $120.1m $120.1m 0.06% Reduced -105.8k -105,790
47 FRANKLIN RESOURCES INC 0.03% of their portfolio San Mateo, CA 566,887566.9k $115.4m $115.4m 0.03% Added +190.3k +190,293
48 Focus Partners Wealth 0.18% of their portfolio ST LOUIS, MO 561,038561.0k $114.2m $114.2m 0.18% Added +64.9k +64,938
49 BNP PARIBAS FINANCIAL MARKETS 0.09% of their portfolio PARIS, I0 551,189551.2k $112.2m $112.2m 0.09% Reduced -189.3k -189,263
50 Pathstone Holdings, LLC 0.43% of their portfolio ENGLEWOOD, NJ 548,332548.3k $111.6m $111.6m 0.43% Reduced -86.6k -86,564
51 NATIXIS ADVISORS, LLC 0.16% of their portfolio Boston, MA 547,391547.4k $111.4m $111.4m 0.16% Reduced -92.2k -92,160
52 BANK OF NOVA SCOTIA 0.19% of their portfolio TORONTO, A6 540,970541.0k $110.1m $110.1m 0.19% Added +160 +160
53 Creative Planning 0.08% of their portfolio OVERLAND PARK, KS 524,353524.4k $106.8m $106.8m 0.08% Reduced -16.1k -16,107
54 Mariner, LLC 0.13% of their portfolio Overland Park, KS 500,078500.1k $101.8m $101.8m 0.13% Reduced -2.8k -2,760
55 BlackRock, Inc. 0.00% of their portfolio New York, NY 473,430473.4k $96.4m $96.4m 0.00% Reduced -110.9k -110,884
56 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 456,131456.1k $92.9m $92.9m 0.06% Reduced -788 -788
57 Modera Wealth Management, LLC 1.05% of their portfolio WESTWOOD, NJ 443,946443.9k $90.4m $90.4m 1.05% Reduced -3.2k -3,237
58 STEPHENS GROUP ASSET MANAGEMENT, LLC 5.93% of their portfolio LITTLE ROCK, AR 431,794431.8k $87.9m $87.9m 5.93% Added +13.8k +13,771
59 Cassaday & Co Wealth Management LLC 2.01% of their portfolio MCLEAN, VA 428,406428.4k $87.2m $87.2m 2.01% Reduced -3.1k -3,110
60 CAPTRUST FINANCIAL ADVISORS 0.17% of their portfolio RALEIGH, NC 420,538420.5k $85.6m $85.6m 0.17% Reduced -6.8k -6,817
61 MML INVESTORS SERVICES, LLC 0.22% of their portfolio SPRINGFIELD, MA 408,283408.3k $83.1m $83.1m 0.22% Added +9.5k +9,528
62 BROWN ADVISORY INC 0.11% of their portfolio BALTIMORE, MD 405,937405.9k $82.6m $82.6m 0.11% Added +7.4k +7,392
63 Cedar Mountain Advisors, LLC 15.89% of their portfolio LAKE OSWEGO, OR 400,966401.0k $81.6m $81.6m 15.89% Reduced -16.2k -16,159
64 CHOREO, LLC 1.03% of their portfolio ROCKFORD, IL 389,893389.9k $79.4m $79.4m 1.03% Reduced -5.6k -5,624
65 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 387,794387.8k $79.0m $79.0m 0.02% Added +11.8k +11,850
66 Marquette Asset Management, LLC 11.88% of their portfolio MINNEAPOLIS, MN 381,407381.4k $77.7m $77.7m 11.88% Added +41.7k +41,720
67 Cullen/Frost Bankers, Inc. 0.90% of their portfolio San Antonio, TX 379,841379.8k $77.3m $77.3m 0.90% Added +2.9k +2,894
68 MV CAPITAL MANAGEMENT, INC. 7.13% of their portfolio BETHESDA, MD 365,039365.0k $74.3m $74.3m 7.13% Reduced -1.7k -1,733
69 LANDAAS & CO /WI /ADV 16.71% of their portfolio MILWAUKEE, WI 361,124361.1k $73.5m $73.5m 16.71% Added +410 +410
70 MAI Capital Management 0.45% of their portfolio INDEPENDENCE, OH 356,398356.4k $72.6m $72.6m 0.45% Reduced -2.1k -2,141
71 Equitable Holdings, Inc. 0.53% of their portfolio NEW YORK, NY 352,081352.1k $71.7m $71.7m 0.53% Added +20.1k +20,132
72 StoneX Group Inc. 3.12% of their portfolio NEW YORK, NY 351,697351.7k $71.6m $71.6m 3.12% Added +9.5k +9,469
73 Independence Asset Advisors, LLC 29.68% of their portfolio WYNNEWOOD,, PA 343,569343.6k $69.9m $69.9m 29.68% Added +37.2k +37,250
74 Private Advisor Group, LLC 0.33% of their portfolio MORRISTOWN, NJ 333,868333.9k $68.0m $68.0m 0.33% Added +4.6k +4,622
75 MONETA GROUP INVESTMENT ADVISORS LLC 0.53% of their portfolio ST LOUIS, MO 330,241330.2k $67.2m $67.2m 0.53% Added +163 +163
76 Steward Partners Investment Advisory, LLC 0.36% of their portfolio STAMFORD, CT 307,233307.2k $62.5m $62.5m 0.36% Added +18.3k +18,340
77 Nuveen, LLC 0.02% of their portfolio CHARLOTTE, NC 302,275302.3k $61.5m $61.5m 0.02% Added +243.2k +243,168
78 FIFTH THIRD BANCORP 0.19% of their portfolio CINCINNATI, OH 291,215291.2k $59.3m $59.3m 0.19% Reduced -21.6k -21,587
79 Thrivent Financial for Lutherans 0.12% of their portfolio Minneapolis, MN 291,173291.2k $59.3m $59.3m 0.12% Added +250.5k +250,498
80 Cresset Asset Management, LLC 0.26% of their portfolio Chicago, IL 289,965290.0k $59.0m $59.0m 0.26% Added +13.5k +13,483
81 Covenant Partners, LLC 16.65% of their portfolio Nashville, TN 288,545288.5k $58.7m $58.7m 16.65% Added +7.6k +7,594
82 Paulson Wealth Management Inc. 13.54% of their portfolio West Palm Beach, FL 281,329281.3k $57.3m $57.3m 13.54% Added +337 +337
83 BRIDGES INVESTMENT MANAGEMENT INC 0.71% of their portfolio OMAHA, NE 273,076273.1k $55.6m $55.6m 0.71% Reduced -104.0k -103,996
84 FSA Wealth Management LLC 19.93% of their portfolio Needham, MA 267,641267.6k $54.5m $54.5m 19.93% Added +1.5k +1,532
85 First Business Financial Services, Inc. 4.96% of their portfolio MADISON, WI 265,429265.4k $54.0m $54.0m 4.96% Reduced -29.9k -29,867
86 Janney Montgomery Scott LLC 0.13% of their portfolio PHILADELPHIA, PA 263,370263.4k $53.6m $53.6m 0.13% Added +7.2k +7,238
87 Sanctuary Advisors, LLC 0.15% of their portfolio INDIANAPOLIS, IN 254,755254.8k $50.1m $50.1m 0.15% Added +139.4k +139,396
88 Badgley Phelps Wealth Managers, LLC 1.04% of their portfolio SEATTLE, WA 243,589243.6k $49.6m $49.6m 1.04% Reduced -522 -522
89 CX Institutional 1.49% of their portfolio AUBURN, IN 241,547241.5k $49.2m $49.2m 1.49% Reduced -20.5k -20,477
90 BLAIR WILLIAM & CO/IL 0.13% of their portfolio CHICAGO, IL 237,715237.7k $48.4m $48.4m 0.13% Added +4.3k +4,323
91 Wind River Trust Co 17.59% of their portfolio Jackson, WY 233,705233.7k $47.6m $47.6m 17.59% Reduced -4.6k -4,596
92 Beacon Pointe Advisors, LLC 0.40% of their portfolio NEWPORT BEACH, CA 231,623231.6k $47.2m $47.2m 0.40% Added +150.8k +150,813
93 MISSION WEALTH MANAGEMENT, LP 0.95% of their portfolio Santa Barbara, CA 228,418228.4k $46.5m $46.5m 0.95% Reduced -6.7k -6,712
94 Flaharty Asset Management, LLC 5.74% of their portfolio CLEARWATER, FL 221,900221.9k $45.2m $45.2m 5.74% Added +4.7k +4,738
95 Legacy Edge Advisors, LLC 5.26% of their portfolio SYOSSET, NY 219,123219.1k $44.6m $44.6m 5.26% Added +17.7k +17,733
96 Cerity Partners LLC 0.07% of their portfolio NEW YORK, NY 214,755214.8k $43.7m $43.7m 0.07% Reduced -2.4k -2,376
97 Comprehensive Financial Management LLC 1.18% of their portfolio Los Gatos, CA 210,233210.2k $42.8m $42.8m 1.18% Unchanged
98 Mesirow Financial Investment Management, Inc. 0.76% of their portfolio CHICAGO, IL 209,354209.4k $42.6m $42.6m 0.76% Added +3.6k +3,610
99 Relyea Zuckerberg Hanson LLC 4.45% of their portfolio STAMFORD, CT 207,936207.9k $42.3m $42.3m 4.45% Reduced -7.8k -7,805
100 HB Wealth Management, LLC 0.29% of their portfolio Atlanta, GA 206,654206.7k $42.1m $42.1m 0.29% Added +25.1k +25,070