Vault-13

ISHARES TR IWD

RUS 1000 VAL ETF · ETP · CUSIP 464287598

1,911 institutional holders +156 vs Q3 2025
273,985,513274.0m shares reported held*
$57.6bnreported value*
133 new 653 added 549 reduced 60 sold out net bought ≈ $1.6bn (+7.6m 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 ($103.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $210.16. Options: 4 managers hold calls ($111.1m notional), 7 hold puts ($738.1m).

Trends to Q4 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: 1,755Q4 25: 1,9111,911Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 20251,911

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ1 24: 527 bought or addedQ1 24: 726 cut or sold outQ2 24: 562 bought or addedQ2 24: 630 cut or sold outQ2 24Q3 24: 638 bought or addedQ3 24: 576 cut or sold outQ4 24: 736 bought or addedQ4 24: 556 cut or sold outQ4 24Q1 25: 634 bought or addedQ1 25: 764 cut or sold outQ2 25: 697 bought or addedQ2 25: 669 cut or sold outQ2 25Q3 25: 648 bought or addedQ3 25: 688 cut or sold outQ4 25: 786 bought or addedQ4 25: 609 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024527726
Q2 2024562630
Q3 2024638576
Q4 2024736556
Q1 2025634764
Q2 2025697669
Q3 2025648688
Q4 2025786609

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ1 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 15.87Q4 25 calls: $111.1mQ4 25 puts: $738.1mQ4 25P/C 6.64
Numbers
QuarterCallsPutsP/C
Q1 2025$114.4m$1.1bn9.68
Q2 2025$138.4m$1.1bn7.70
Q3 2025$67.8m$1.1bn15.87
Q4 2025$111.1m$738.1m6.64

Biggest buyers

MORGAN STANLEY Added +3,280,476+3.3m
BANK OF AMERICA CORP /DE/ Added +2,686,078+2.7m
ENVESTNET ASSET MANAGEMENT INC Added +1,053,096+1.1m
WELLS FARGO & COMPANY/MN Added +995,230+995.2k
Focus Partners Wealth Added +851,770+851.8k
Corient Private Wealth LP Added +815,292+815.3k
Diamond Hill Capital Management, LLC (Investment Advisor) Added +554,669+554.7k
CONFLUENCE INVESTMENT MANAGEMENT LLC Added +549,686+549.7k
BNP PARIBAS FINANCIAL MARKETS Added +502,015+502.0k
Mizuho Bank, Ltd. New +480,000+480.0k

Biggest sellers

JPMORGAN CHASE & CO Reduced -8,573,814-8.6m
FMR LLC Reduced -1,247,885-1.2m
UBS Group AG Reduced -1,067,150-1.1m
NorthCoast Asset Management LLC Reduced -875,513-875.5k
PRUDENTIAL FINANCIAL INC Reduced -388,142-388.1k
AMERICAN CENTURY COMPANIES INC Reduced -307,354-307.4k
Independence Asset Advisors, LLC Reduced -306,319-306.3k
Advisor OS, LLC Reduced -176,696-176.7k
MJP ASSOCIATES INC /ADV Reduced -174,307-174.3k
Financial Engines Advisors L.L.C. Reduced -160,333-160.3k

Biggest calls

UBS Group AG Added $63.1m300.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $25.2m119.7k shares
CITADEL ADVISORS LLC Added $13.4m63.9k shares
JANE STREET GROUP, LLC Added $9.4m44.8k shares

Biggest puts

Elliott Investment Management L.P. Reduced $589.0m2.8m shares
UBS Group AG Added $63.1m300.0k shares
JANE STREET GROUP, LLC Added $52.7m250.7k shares
CITADEL ADVISORS LLC Added $18.3m86.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $9.4m44.6k shares
HBK INVESTMENTS L P New $5.6m26.6k shares
Smith & Howard Wealth Management, LLC Reduced $60.0k300 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.80% of their portfolio CHARLOTTE, NC 52,256,61652.3m $11.0bn $11.0bn 0.80% Added +2.7m +2,686,078
2 MORGAN STANLEY 0.50% of their portfolio NEW YORK, NY 39,663,58739.7m $8.3bn $8.3bn 0.50% Added +3.3m +3,280,476
3 GOLDMAN SACHS GROUP INC 0.35% of their portfolio NEW YORK, NY 11,560,20411.6m $2.4bn $2.4bn 0.35% Added +231.4k +231,377
4 JPMORGAN CHASE & CO 0.13% of their portfolio NEW YORK, NY 9,251,7109.3m $1.9bn $1.9bn 0.13% Reduced -8.6m -8,573,814
5 FMR LLC 0.09% of their portfolio BOSTON, MA 8,612,2438.6m $1.8bn $1.8bn 0.09% Reduced -1.2m -1,247,885
6 Financial Engines Advisors L.L.C. 3.35% of their portfolio SANTA CLARA, CA 8,417,9548.4m $1.8bn $1.8bn 3.35% Reduced -160.3k -160,333
7 ENVESTNET ASSET MANAGEMENT INC 0.48% of their portfolio Berwyn, PA 7,746,3417.7m $1.6bn $1.6bn 0.48% Added +1.1m +1,053,096
8 UBS Group AG 0.28% of their portfolio ZURICH, V8 6,611,5206.6m $1.4bn $1.4bn 0.28% Reduced -1.1m -1,067,150
9 WELLS FARGO & COMPANY/MN 0.24% of their portfolio SAN FRANCISCO, CA 5,895,7695.9m $1.2bn $1.2bn 0.24% Added +995.2k +995,230
10 Baird Financial Group, Inc. 1.92% of their portfolio MILWAUKEE, WI 5,848,6395.8m $1.2bn $1.2bn 1.92% Added +229.9k +229,854
11 RAYMOND JAMES FINANCIAL INC 0.35% of their portfolio ST. PETERSBURG, FL 5,379,2065.4m $1.1bn $1.1bn 0.35% Added +224.3k +224,280
12 NORTHERN TRUST CORP 0.13% of their portfolio CHICAGO, IL 4,928,6504.9m $1.0bn $1.0bn 0.13% Added +42.4k +42,360
13 LPL Financial LLC 0.25% of their portfolio FORT MILL, SC 4,290,5024.3m $902.5m $902.5m 0.25% Added +88.7k +88,708
14 M&T Bank Corp 2.56% of their portfolio BUFFALO, NY 3,785,0453.8m $796.1m $796.1m 2.56% Added +32.7k +32,694
15 PNC Financial Services Group, Inc. 0.41% of their portfolio Pittsburgh, PA 3,557,5893.6m $748.3m $748.3m 0.41% Added +165.9k +165,919
16 PRUDENTIAL FINANCIAL INC 0.88% of their portfolio NEWARK, NJ 3,422,5003.4m $725.4m $725.4m 0.88% Reduced -388.1k -388,142
17 Pinnacle Financial Partners, Inc. 5.19% of their portfolio ATLANTA, GA 3,263,8003.3m $686.5m $686.5m 5.19% First filing
18 ROYAL BANK OF CANADA 0.09% of their portfolio TORONTO, A6 2,540,6562.5m $534.4m $534.4m 0.09% Added +443.0k +443,000
19 Jasper Ridge Partners, L.P. 11.77% of their portfolio MENLO PARK, CA 2,524,6842.5m $531.0m $531.0m 11.77% Unchanged
20 TRUIST FINANCIAL CORP 0.66% of their portfolio CHARLOTTE, NC 2,344,5742.3m $493.2m $493.2m 0.66% Added +105.6k +105,648
21 STIFEL FINANCIAL CORP 0.36% of their portfolio ST. LOUIS, MO 1,916,3121.9m $403.1m $403.1m 0.36% Added +400.1k +400,051
22 COMMONWEALTH EQUITY SERVICES, LLC 0.48% of their portfolio WALTHAM, MA 1,726,0241.7m $363.1m $363.1m 0.48% Reduced -135.3k -135,296
23 GLOBALT Investments LLC / GA 12.95% of their portfolio Atlanta, GA 1,686,6791.7m $354.8m $354.8m 12.95% Reduced -16.6k -16,615
24 Corient Private Wealth LP 0.23% of their portfolio MIAMI, FL 1,637,9931.6m $341.8m $341.8m 0.23% Added +815.3k +815,292
25 JONES FINANCIAL COMPANIES LLLP 0.19% of their portfolio DES PERES, MO 1,507,3151.5m $317.0m $317.0m 0.19% Added +19.0k +19,033
26 Rockefeller Capital Management L.P. 0.55% of their portfolio NEW YORK, NY 1,440,5011.4m $303.0m $303.0m 0.55% Added +319.3k +319,319
27 Focus Partners Wealth 0.34% of their portfolio ST LOUIS, MO 1,412,8081.4m $297.2m $297.2m 0.34% Added +851.8k +851,770
28 AMERIPRISE FINANCIAL INC 0.07% of their portfolio MINNEAPOLIS, MN 1,397,9041.4m $294.1m $294.1m 0.07% Added +212.8k +212,781
29 Stairway Partners, LLC 14.41% of their portfolio MINNEAPOLIS, MN 1,323,0571.3m $278.3m $278.3m 14.41% Added +10.9k +10,922
30 Cetera Investment Advisers 0.30% of their portfolio SCHAUMBURG, IL 1,295,5751.3m $272.5m $272.5m 0.30% Reduced -16.3k -16,345
31 CITIGROUP INC 0.18% of their portfolio NEW YORK, NY 1,250,2361.3m $263.0m $263.0m 0.18% Reduced -46.3k -46,309
32 71 West Capital Partners 11.04% of their portfolio BOSTON, MA 1,141,3211.1m $240.1m $240.1m 11.04% First filing
33 TIAA TRUST, NATIONAL ASSOCIATION 0.58% of their portfolio CHARLOTTE, NC 1,135,6101.1m $239.9m $239.9m 0.58% Reduced -14.9k -14,916
34 HighTower Advisors, LLC 0.25% of their portfolio CHICAGO, IL 1,099,6161.1m $231.3m $231.3m 0.25% Added +41.1k +41,117
35 BNP PARIBAS FINANCIAL MARKETS 0.14% of their portfolio PARIS, I0 1,053,2041.1m $221.5m $221.5m 0.14% Added +502.0k +502,015
36 Pacific Life Fund Advisors LLC 22.61% of their portfolio NEWPORT BEACH, CA 1,043,6431.0m $219.5m $219.5m 22.61% Reduced -35.4k -35,370
37 COMERICA BANK 0.82% of their portfolio DALLAS, TX 974,143974.1k $204.9m $204.9m 0.82% Added +13.6k +13,612
38 Waldron Private Wealth LLC 7.32% of their portfolio BRIDGEVILLE, PA 880,945880.9k $185.3m $185.3m 7.32% Reduced -10.1k -10,120
39 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 858,292858.3k $180.5m $180.5m 0.03% Added +145.8k +145,804
40 OAKWORTH CAPITAL, INC. 9.59% of their portfolio BIRMINGHAM, AL 835,036835.0k $175.6m $175.6m 9.59% Added +25.8k +25,803
41 US BANCORP \DE\ 0.20% of their portfolio MINNEAPOLIS, MN 824,090824.1k $173.3m $173.3m 0.20% Added +55.5k +55,496
42 COMMERCE BANK 0.84% of their portfolio KANSAS CITY, MO 725,356725.4k $152.6m $152.6m 0.84% Added +8.2k +8,230
43 OpenArc Corporate Advisory, LLC 2.34% of their portfolio ATLANTA, GA 673,355673.4k $141.6m $141.6m 2.34% First filing
44 Circle Wealth Management, LLC 2.18% of their portfolio SUMMIT, NJ 672,633672.6k $141.5m $141.5m 2.18% Added +65.0k +65,000
45 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.19% of their portfolio PLYMOUTH, MN 652,027652.0k $141.2m $141.2m 0.19% Added +1.9k +1,906
46 STEPHENS INC /AR/ 1.63% of their portfolio LITTLE ROCK, AR 621,161621.2k $130.7m $130.7m 1.63% Reduced -7.6k -7,609
47 BROWN ADVISORY INC 0.18% of their portfolio BALTIMORE, MD 619,817619.8k $130.4m $130.4m 0.18% Added +213.9k +213,880
48 OSAIC HOLDINGS, INC. 0.19% of their portfolio SCOTTSDALE, AZ 611,239611.2k $128.5m $128.5m 0.19% Reduced -915 -915
49 1ST SOURCE BANK 6.73% of their portfolio SOUTH BEND, IN 610,192610.2k $128.3m $128.3m 6.73% Reduced -75.9k -75,922
50 NATIXIS ADVISORS, LLC 0.18% of their portfolio Boston, MA 608,771608.8k $128.0m $128.0m 0.18% Added +61.4k +61,380
51 CONFLUENCE INVESTMENT MANAGEMENT LLC 1.79% of their portfolio ST. LOUIS, MO 568,609568.6k $119.6m $119.6m 1.79% Added +549.7k +549,686
52 Diamond Hill Capital Management, LLC (Investment Advisor) 0.60% of their portfolio COLUMBUS, OH 556,903556.9k $117.1m $117.1m 0.60% Added +554.7k +554,669
53 Creative Planning 0.08% of their portfolio OVERLAND PARK, KS 539,464539.5k $113.5m $113.5m 0.08% Added +15.1k +15,111
54 Mariner, LLC 0.13% of their portfolio Overland Park, KS 531,496531.5k $111.8m $111.8m 0.13% Added +31.4k +31,418
55 EQUITY INVESTMENT CORP 2.17% of their portfolio ATLANTA, GA 512,134512.1k $107.7m $107.7m 2.17% Added +308.3k +308,268
56 Pathstone Holdings, LLC 0.40% of their portfolio ENGLEWOOD, NJ 488,638488.6k $102.8m $102.8m 0.40% Reduced -59.7k -59,694
57 Mizuho Bank, Ltd. 12.02% of their portfolio TOKYO, M0 480,000480.0k $101.0m $101.0m 12.02% New
58 MML INVESTORS SERVICES, LLC 0.23% of their portfolio SPRINGFIELD, MA 455,284455.3k $95.8m $95.8m 0.23% Added +47.0k +47,001
59 Cerity Partners LLC 0.14% of their portfolio NEW YORK, NY 452,281452.3k $95.1m $95.1m 0.14% Added +237.5k +237,526
60 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 449,483449.5k $94.5m $94.5m 0.06% Reduced -6.6k -6,648
61 BANK OF NOVA SCOTIA 0.14% of their portfolio TORONTO, A6 433,880433.9k $91.3m $91.3m 0.14% Reduced -107.1k -107,090
62 STEPHENS GROUP ASSET MANAGEMENT, LLC 6.05% of their portfolio LITTLE ROCK, AR 430,753430.8k $90.6m $90.6m 6.05% Reduced -1.0k -1,041
63 Cassaday & Co Wealth Management LLC 1.87% of their portfolio MCLEAN, VA 422,578422.6k $88.9m $88.9m 1.87% Reduced -5.8k -5,828
64 EAGLE CAPITAL MANAGEMENT LLC 0.27% of their portfolio New York, NY 419,660419.7k $88.3m $88.3m 0.27% Added +379.8k +379,823
65 ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio NASHVILLE, TN 415,954416.0k $87.5m $87.5m 0.03% Added +28.2k +28,160
66 CAPTRUST FINANCIAL ADVISORS 0.17% of their portfolio RALEIGH, NC 414,312414.3k $87.1m $87.1m 0.17% Reduced -6.2k -6,226
67 Beacon Pointe Advisors, LLC 0.61% of their portfolio NEWPORT BEACH, CA 413,095413.1k $86.9m $86.9m 0.61% Added +181.5k +181,472
68 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 410,411410.4k $86.3m $86.3m 0.02% Reduced -156.5k -156,476
69 Cullen/Frost Bankers, Inc. 0.93% of their portfolio San Antonio, TX 403,058403.1k $84.8m $84.8m 0.93% Added +23.2k +23,217
70 Cedar Mountain Advisors, LLC 16.33% of their portfolio LAKE OSWEGO, OR 402,552402.6k $84.7m $84.7m 16.33% Added +1.6k +1,586
71 CHOREO, LLC 1.08% of their portfolio ROCKFORD, IL 398,421398.4k $84.4m $84.4m 1.08% Added +8.5k +8,528
72 Dynasty Wealth Management, LLC 0.82% of their portfolio ST. PETERSBURG, FL 395,837395.8k $83.3m $83.3m 0.82% New
73 Marquette Asset Management, LLC 11.92% of their portfolio MINNEAPOLIS, MN 383,771383.8k $80.7m $80.7m 11.92% Added +2.4k +2,364
74 BlackRock, Inc. 0.00% of their portfolio New York, NY 369,437369.4k $77.7m $77.7m 0.00% Reduced -104.0k -103,993
75 LANDAAS & CO /WI /ADV 16.90% of their portfolio MILWAUKEE, WI 365,197365.2k $76.8m $76.8m 16.90% Added +4.1k +4,073
76 Modera Wealth Management, LLC 0.89% of their portfolio WESTWOOD, NJ 364,779364.8k $76.7m $76.7m 0.89% Reduced -79.2k -79,167
77 Equitable Holdings, Inc. 0.52% of their portfolio NEW YORK, NY 362,438362.4k $76.2m $76.2m 0.52% Added +10.4k +10,357
78 MV CAPITAL MANAGEMENT, INC. 7.32% of their portfolio BETHESDA, MD 362,323362.3k $76.2m $76.2m 7.32% Reduced -2.7k -2,716
79 MAI Capital Management 0.44% of their portfolio INDEPENDENCE, OH 362,100362.1k $76.2m $76.2m 0.44% Added +5.7k +5,702
80 StoneX Group Inc. 3.26% of their portfolio NEW YORK, NY 357,505357.5k $75.2m $75.2m 3.26% Added +5.8k +5,808
81 Align Financial, LLC 0.20% of their portfolio HERMANTOWN, MN 342,013342.0k $342.0k $342.0k 0.20% First filing
82 Thrivent Financial for Lutherans 0.13% of their portfolio Minneapolis, MN 338,643338.6k $71.7m $71.7m 0.13% Added +47.5k +47,470
83 Private Advisor Group, LLC 0.33% of their portfolio MORRISTOWN, NJ 336,342336.3k $70.7m $70.7m 0.33% Added +2.5k +2,474
84 MONETA GROUP INVESTMENT ADVISORS LLC 0.52% of their portfolio ST LOUIS, MO 329,410329.4k $69.3m $69.3m 0.52% Reduced -831 -831
85 Janney Montgomery Scott LLC 0.16% of their portfolio PHILADELPHIA, PA 326,035326.0k $68.6m $68.6m 0.16% Added +62.7k +62,665
86 Allworth Financial LP 0.28% of their portfolio FOLSOM, CA 320,484320.5k $67.4m $67.4m 0.28% Added +275.0k +275,022
87 Steward Partners Investment Advisory, LLC 0.36% of their portfolio STAMFORD, CT 309,939309.9k $65.2m $65.2m 0.36% Added +2.7k +2,706
88 EP Wealth Advisors, LLC 0.34% of their portfolio TORRANCE, CA 308,352308.4k $64.9m $64.9m 0.34% First filing
89 Covenant Partners, LLC 18.93% of their portfolio Nashville, TN 307,868307.9k $64.8m $64.8m 18.93% Added +19.3k +19,323
90 ZACKS INVESTMENT MANAGEMENT 0.50% of their portfolio Chicago, IL 304,086304.1k $64.0m $64.0m 0.50% Added +233.1k +233,109
91 Cresset Asset Management, LLC 0.27% of their portfolio Chicago, IL 297,973298.0k $62.7m $62.7m 0.27% Added +8.0k +8,008
92 Badgley Phelps Wealth Managers, LLC 1.10% of their portfolio SEATTLE, WA 284,280284.3k $59.8m $59.8m 1.10% Added +40.7k +40,691
93 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 283,746283.7k $59.7m $59.7m 0.02% Added +148.4k +148,407
94 AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio KANSAS CITY, MO 282,349282.3k $59.4m $59.4m 0.03% Reduced -307.4k -307,354
95 FIFTH THIRD BANCORP 0.19% of their portfolio CINCINNATI, OH 280,879280.9k $59.1m $59.1m 0.19% Reduced -10.3k -10,336
96 Waverly Advisors, LLC 0.48% of their portfolio BIRMINGHAM, AL 280,747280.7k $59.1m $59.1m 0.48% Added +82.8k +82,819
97 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.32% of their portfolio Stamford, CT 275,191275.2k $57.9m $57.9m 0.32% Added +219.8k +219,845
98 Boston Partners 0.06% of their portfolio BOSTON, MA 273,930273.9k $58.4m $58.4m 0.06% Added +210.6k +210,590
99 Paulson Wealth Management Inc. 13.14% of their portfolio West Palm Beach, FL 270,484270.5k $56.9m $56.9m 13.14% Reduced -10.8k -10,845
100 BRIDGES INVESTMENT MANAGEMENT INC 0.71% of their portfolio OMAHA, NE 267,626267.6k $56.3m $56.3m 0.71% Reduced -5.5k -5,450