Vault-13

ISHARES TR IWM

RUSSELL 2000 ETF · ETP · CUSIP 464287655 · ISIN US4642876555

2,439 institutional holders +65 vs Q2 2025
280,089,436280.1m shares reported held*
$67.8bnreported value*
192 new 803 added 971 reduced 112 sold out net sold ≈ $4.5bn (-18.7m 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 ($72.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $241.93. Options: 103 managers hold calls ($51.7bn notional), 151 hold puts ($126.4bn).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 22: 1,866Q4 22: 1,990Q1 23: 1,911Q2 23: 1,968Q3 23: 1,923Q4 23: 2,220Q1 24: 2,209Q2 24: 2,166Q3 24: 2,257Q4 24: 2,534Q1 25: 2,369Q2 25: 2,374Q3 25: 2,4392,439Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 20221,866
Q4 20221,990
Q1 20231,911
Q2 20231,968
Q3 20231,923
Q4 20232,220
Q1 20242,209
Q2 20242,166
Q3 20242,257
Q4 20242,534
Q1 20252,369
Q2 20252,374
Q3 20252,439

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ4 23: 1,110 bought or addedQ4 23: 783 cut or sold outQ1 24: 994 bought or addedQ1 24: 1,020 cut or sold outQ1 24Q2 24: 916 bought or addedQ2 24: 1,042 cut or sold outQ3 24: 1,076 bought or addedQ3 24: 890 cut or sold outQ3 24Q4 24: 1,164 bought or addedQ4 24: 865 cut or sold outQ1 25: 889 bought or addedQ1 25: 1,328 cut or sold outQ1 25Q2 25: 917 bought or addedQ2 25: 1,172 cut or sold outQ3 25: 995 bought or addedQ3 25: 1,083 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20231,110783
Q1 20249941,020
Q2 20249161,042
Q3 20241,076890
Q4 20241,164865
Q1 20258891,328
Q2 20259171,172
Q3 20259951,083

Calls vs puts

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

CallsPuts
$0$50bn$100bn$150bnQ4 24 calls: $45.6bnQ4 24 puts: $109.6bnQ4 24P/C 2.41Q1 25 calls: $45.2bnQ1 25 puts: $107.8bnQ1 25P/C 2.38Q2 25 calls: $62.7bnQ2 25 puts: $119.4bnQ2 25P/C 1.91Q3 25 calls: $51.7bnQ3 25 puts: $126.4bnQ3 25P/C 2.44
Numbers
QuarterCallsPutsP/C
Q4 2024$45.6bn$109.6bn2.41
Q1 2025$45.2bn$107.8bn2.38
Q2 2025$62.7bn$119.4bn1.91
Q3 2025$51.7bn$126.4bn2.44

Biggest buyers

JPMORGAN CHASE & CO Added +7,311,743+7.3m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +1,428,000+1.4m
CITIGROUP INC Added +1,359,114+1.4m
Varma Mutual Pension Insurance Co Added +1,316,074+1.3m
Cetera Investment Advisers Added +962,482+962.5k
Clal Insurance Enterprises Holdings Ltd New +932,000+932.0k
MILLENNIUM MANAGEMENT LLC Added +795,577+795.6k
Impactive Capital LP New +609,241+609.2k
Jefferies Financial Group Inc. Added +607,503+607.5k
HRT FINANCIAL LP Added +470,851+470.9k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -6,842,203-6.8m
Holocene Advisors, LP Sold out -5,700,000-5.7m
JONES FINANCIAL COMPANIES LLLP Reduced -3,796,138-3.8m
ROYAL BANK OF CANADA Reduced -3,670,342-3.7m
MORGAN STANLEY Reduced -2,709,746-2.7m
Durable Capital Partners LP Sold out -2,596,668-2.6m
WELLS FARGO & COMPANY/MN Reduced -2,454,916-2.5m
Corient Private Wealth LP Reduced -1,302,565-1.3m
Optiver Holding B.V. Reduced -1,201,072-1.2m
Rockefeller Capital Management L.P. Reduced -870,941-870.9k

Biggest calls

JANE STREET GROUP, LLC Added $9.4bn39.0m shares
CITADEL ADVISORS LLC Reduced $4.5bn18.5m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $4.5bn18.5m shares
BARCLAYS PLC Reduced $4.3bn17.6m shares
MILLENNIUM MANAGEMENT LLC Added $3.6bn14.7m shares
BNP PARIBAS FINANCIAL MARKETS Added $3.6bn146.8k shares
TUDOR INVESTMENT CORP ET AL Reduced $3.2bn13.4m shares
WELLS FARGO & COMPANY/MN Reduced $2.0bn8.1m shares
BANK OF AMERICA CORP /DE/ Reduced $1.9bn7.8m shares
UBS Group AG Added $1.9bn7.8m shares

Biggest puts

JANE STREET GROUP, LLC Added $12.8bn53.1m shares
BANK OF AMERICA CORP /DE/ Added $12.8bn52.8m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $11.2bn46.2m shares
BARCLAYS PLC Added $11.0bn45.4m shares
TUDOR INVESTMENT CORP ET AL Reduced $8.3bn34.3m shares
MILLENNIUM MANAGEMENT LLC Added $7.3bn30.3m shares
CITADEL ADVISORS LLC Reduced $6.9bn28.4m shares
CITIGROUP INC Added $5.8bn24.0m shares
ROYAL BANK OF CANADA Reduced $4.1bn17.1m shares
GOLDMAN SACHS GROUP INC Reduced $4.0bn16.6m 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/ 0.67% of their portfolio CHARLOTTE, NC 36,865,28236.9m $8.9bn $8.9bn 0.67% Reduced -312.9k -312,938
2 MORGAN STANLEY 0.27% of their portfolio NEW YORK, NY 18,151,96918.2m $4.4bn $4.4bn 0.27% Reduced -2.7m -2,709,746
3 JPMORGAN CHASE & CO 0.12% of their portfolio NEW YORK, NY 15,490,66415.5m $3.7bn $3.7bn 0.12% Added +7.3m +7,311,743
4 GOLDMAN SACHS GROUP INC 0.53% of their portfolio NEW YORK, NY 15,057,39515.1m $3.6bn $3.6bn 0.53% Reduced -6.8m -6,842,203
5 WELLS FARGO & COMPANY/MN 0.65% of their portfolio SAN FRANCISCO, CA 13,162,75313.2m $3.2bn $3.2bn 0.65% Reduced -2.5m -2,454,916
6 BlackRock, Inc. 0.04% of their portfolio New York, NY 9,165,2389.2m $2.2bn $2.2bn 0.04% Added +11.6k +11,637
7 Empower Advisory Group, LLC 5.78% of their portfolio Greenwood Village, CO 8,616,6938.6m $2.1bn $2.1bn 5.78% Reduced -173 -173
8 ROYAL BANK OF CANADA 0.33% of their portfolio TORONTO, A6 7,598,2667.6m $1.8bn $1.8bn 0.33% Reduced -3.7m -3,670,342
9 LPL Financial LLC 0.52% of their portfolio FORT MILL, SC 7,367,4507.4m $1.8bn $1.8bn 0.52% Added +314.5k +314,544
10 Rafferty Asset Management, LLC 5.14% of their portfolio New York, NY 6,552,3606.6m $1.6bn $1.6bn 5.14% Reduced -195.5k -195,469
11 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 2.50% of their portfolio TORONTO, A6 5,606,0005.6m $1.4bn $1.4bn 2.50% Added +1.4m +1,428,000
12 BANK OF MONTREAL /CAN/ 0.51% of their portfolio TORONTO, A6 4,975,9645.0m $1.2bn $1.2bn 0.51% Added +112.6k +112,596
13 BNP PARIBAS FINANCIAL MARKETS 0.84% of their portfolio PARIS, I0 4,465,2194.5m $1.1bn $1.1bn 0.84% Added +159.0k +159,021
14 NORTHERN TRUST CORP 0.13% of their portfolio CHICAGO, IL 4,121,9054.1m $997.3m $997.3m 0.13% Reduced -45.6k -45,577
15 UBS Group AG 0.18% of their portfolio ZURICH, V8 3,885,4753.9m $940.1m $940.1m 0.18% Reduced -208.1k -208,086
16 SUSQUEHANNA INTERNATIONAL GROUP, LLP 1.37% of their portfolio BALA CYNWYD, PA 3,870,6563.9m $936.5m $936.5m 1.37% Reduced -859.9k -859,855
17 PNC Financial Services Group, Inc. 0.44% of their portfolio Pittsburgh, PA 2,990,9283.0m $723.7m $723.7m 0.44% Reduced -4.7k -4,660
18 CANADA PENSION PLAN INVESTMENT BOARD 0.47% of their portfolio TORONTO ONTARIO, A6 2,781,0002.8m $672.9m $672.9m 0.47% Reduced -229.0k -229,000
19 BARCLAYS PLC 0.25% of their portfolio LONDON, X0 2,759,7912.8m $667.8m $667.8m 0.25% Reduced -379.5k -379,455
20 US BANCORP \DE\ 0.75% of their portfolio MINNEAPOLIS, MN 2,603,2932.6m $629.9m $629.9m 0.75% Reduced -60.6k -60,587
21 CITIGROUP INC 0.42% of their portfolio NEW YORK, NY 2,514,5512.5m $608.4m $608.4m 0.42% Added +1.4m +1,359,114
22 M&T Bank Corp 1.84% of their portfolio BUFFALO, NY 2,255,7812.3m $545.8m $545.8m 1.84% Reduced -97.5k -97,509
23 FMR LLC 0.03% of their portfolio BOSTON, MA 2,174,3042.2m $526.1m $526.1m 0.03% Reduced -89.1k -89,052
24 Treasurer of the State of North Carolina 1.51% of their portfolio RALEIGH, NC 2,021,5202.0m $489.1m $489.1m 1.51% Added +5.5k +5,530
25 ENVESTNET ASSET MANAGEMENT INC 0.14% of their portfolio Berwyn, PA 1,967,2462.0m $476.0m $476.0m 0.14% Added +400.0k +400,017
26 HRT FINANCIAL LP 2.13% of their portfolio NEW YORK, NY 1,934,9001.9m $468.2m $468.2m 2.13% Added +470.9k +470,851
27 RAYMOND JAMES FINANCIAL INC 0.15% of their portfolio ST. PETERSBURG, FL 1,925,3171.9m $465.8m $465.8m 0.15% Added +62.5k +62,487
28 Bank of New York Mellon Corp 0.08% of their portfolio NEW YORK, NY 1,902,7371.9m $460.4m $460.4m 0.08% Reduced -28.8k -28,778
29 Cetera Investment Advisers 0.47% of their portfolio SCHAUMBURG, IL 1,672,7121.7m $404.7m $404.7m 0.47% Added +962.5k +962,482
30 Millburn Ridgefield LLC /DE/ 8.70% of their portfolio New York, NY 1,507,1191.5m $364.7m $364.7m 8.70% Reduced -144.7k -144,658
31 Catalyst Capital Advisors LLC 7.36% of their portfolio San Juan, PR 1,507,1191.5m $364.7m $364.7m 7.36% Reduced -144.7k -144,658
32 Varma Mutual Pension Insurance Co 2.26% of their portfolio Varma, H9 1,458,0611.5m $352.8m $352.8m 2.26% Added +1.3m +1,316,074
33 Jefferies Financial Group Inc. 3.23% of their portfolio NEW YORK, NY 1,456,5211.5m $352.4m $352.4m 3.23% Added +607.5k +607,503
34 AMERIPRISE FINANCIAL INC 0.08% of their portfolio MINNEAPOLIS, MN 1,417,2071.4m $343.3m $343.3m 0.08% Added +25.4k +25,369
35 CIBC WORLD MARKET INC. 0.69% of their portfolio TORONTO, A6 1,370,2021.4m $331.5m $331.5m 0.69% Added +4.9k +4,926
36 TRUIST FINANCIAL CORP 0.45% of their portfolio CHARLOTTE, NC 1,363,8171.4m $330.0m $330.0m 0.45% Added +160.0k +159,988
37 WELLINGTON MANAGEMENT GROUP LLP 0.05% of their portfolio Boston, MA 1,180,6791.2m $285.7m $285.7m 0.05% Added +224.7k +224,733
38 JONES FINANCIAL COMPANIES LLLP 0.17% of their portfolio DES PERES, MO 1,017,8681.0m $245.7m $245.7m 0.17% Reduced -3.8m -3,796,138
39 Clal Insurance Enterprises Holdings Ltd 1.72% of their portfolio Tel-aviv, L3 932,000932.0k $225.5m $225.5m 1.72% New
40 ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio NASHVILLE, TN 921,612921.6k $223.0m $223.0m 0.07% Reduced -12.0k -11,956
41 Pathstone Holdings, LLC 0.83% of their portfolio ENGLEWOOD, NJ 902,038902.0k $217.8m $217.8m 0.83% Reduced -32.1k -32,128
42 BROWN ADVISORY INC 0.28% of their portfolio BALTIMORE, MD 897,594897.6k $217.2m $217.2m 0.28% Added +42.7k +42,719
43 MILLENNIUM MANAGEMENT LLC 0.17% of their portfolio NEW YORK, NY 873,091873.1k $211.3m $211.3m 0.17% Added +795.6k +795,577
44 AMG National Trust Bank 4.89% of their portfolio GREENWOOD VILLAGE, CO 828,158828.2k $200.4m $200.4m 4.89% Reduced -10.1k -10,108
45 KEYBANK NATIONAL ASSOCIATION/OH 0.68% of their portfolio BROOKLYN, OH 799,292799.3k $193.4m $193.4m 0.68% Reduced -14.4k -14,432
46 Rockefeller Capital Management L.P. 0.34% of their portfolio NEW YORK, NY 716,893716.9k $173.5m $173.5m 0.34% Reduced -870.9k -870,941
47 LBMC INVESTMENT ADVISORS, LLC 10.86% of their portfolio BRENTWOOD, TN 704,261704.3k $170.4m $170.4m 10.86% Added +2.8k +2,765
48 FRANKLIN RESOURCES INC 0.04% of their portfolio San Mateo, CA 686,889686.9k $166.2m $166.2m 0.04% Added +12.0k +12,033
49 Mariner, LLC 0.21% of their portfolio Overland Park, KS 656,707656.7k $158.9m $158.9m 0.21% Added +29.5k +29,522
50 CIBC Private Wealth Group LLC 0.27% of their portfolio ATLANTA, GA 640,622640.6k $155.0m $155.0m 0.27% Added +15.3k +15,281
51 MIRAE ASSET SECURITIES (USA) INC. 6.79% of their portfolio NEW YORK, NY 639,662639.7k $154.8m $154.8m 6.79% Reduced -62.6k -62,591
52 FIFTH THIRD BANCORP 0.48% of their portfolio CINCINNATI, OH 621,005621.0k $150.3m $150.3m 0.48% Reduced -8.5k -8,482
53 SIMPLEX TRADING, LLC 3.30% of their portfolio CHICAGO, IL 617,585617.6k $149.4m $149.4m 3.30% Added +425.0k +424,988
54 STIFEL FINANCIAL CORP 0.13% of their portfolio ST. LOUIS, MO 611,090611.1k $147.9m $147.9m 0.13% Added +47.8k +47,823
55 Impactive Capital LP 7.09% of their portfolio NEW YORK CITY, NY 609,241609.2k $147.4m $147.4m 7.09% New
56 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.10% of their portfolio MILWAUKEE, WI 609,005609.0k $147.4m $147.4m 0.10% Added +19.5k +19,471
57 HighTower Advisors, LLC 0.17% of their portfolio CHICAGO, IL 606,392606.4k $146.7m $146.7m 0.17% Added +61.2k +61,173
58 Baird Financial Group, Inc. 0.23% of their portfolio MILWAUKEE, WI 601,495601.5k $145.5m $145.5m 0.23% Reduced -14.5k -14,453
59 TIAA TRUST, NATIONAL ASSOCIATION 0.35% of their portfolio CHARLOTTE, NC 589,883589.9k $142.7m $142.7m 0.35% Added +7.2k +7,208
60 SYNOVUS FINANCIAL CORP 1.62% of their portfolio Columbus, GA 584,336584.3k $141.4m $141.4m 1.62% Added +6.1k +6,061
61 Sand Hill Global Advisors, LLC 4.96% of their portfolio Palo Alto, CA 582,631582.6k $141.0m $141.0m 4.96% Reduced -26.5k -26,543
62 COMMONWEALTH EQUITY SERVICES, LLC 0.18% of their portfolio WALTHAM, MA 571,332571.3k $138.2m $138.2m 0.18% Added +18.6k +18,586
63 Creative Planning 0.11% of their portfolio OVERLAND PARK, KS 568,709568.7k $137.6m $137.6m 0.11% Added +744 +744
64 Corient Private Wealth LP 0.21% of their portfolio MIAMI, FL 548,438548.4k $132.7m $132.7m 0.21% Reduced -1.3m -1,302,565
65 OSAIC HOLDINGS, INC. 0.18% of their portfolio SCOTTSDALE, AZ 539,769539.8k $128.8m $128.8m 0.18% Added +77.9k +77,858
66 Cerity Partners LLC 0.21% of their portfolio NEW YORK, NY 525,001525.0k $127.0m $127.0m 0.21% Reduced -12.4k -12,356
67 BLAIR WILLIAM & CO/IL 0.32% of their portfolio CHICAGO, IL 500,461500.5k $121.1m $121.1m 0.32% Added +6.9k +6,881
68 MAI Capital Management 0.73% of their portfolio INDEPENDENCE, OH 483,927483.9k $117.1m $117.1m 0.73% Added +2.2k +2,176
69 CITADEL ADVISORS LLC 0.09% of their portfolio MIAMI, FL 479,996480.0k $116.1m $116.1m 0.09% Reduced -267.9k -267,941
70 BROADWOOD CAPITAL INC 6.95% of their portfolio New York, NY 474,920474.9k $114.9m $114.9m 6.95% Unchanged
71 Balyasny Asset Management L.P. 0.23% of their portfolio Chicago, IL 464,672464.7k $112.4m $112.4m 0.23% Added +198.4k +198,359
72 COMMERCE BANK 0.62% of their portfolio KANSAS CITY, MO 460,024460.0k $111.3m $111.3m 0.62% Reduced -7.1k -7,104
73 Glenmede Investment Management, LP 0.51% of their portfolio PHILADELPHIA, PA 432,910432.9k $104.7m $104.7m 0.51% Reduced -1.4k -1,384
74 HSBC HOLDINGS PLC 0.06% of their portfolio LONDON, X0 427,205427.2k $102.7m $102.7m 0.06% Added +113.0k +113,036
75 Valiant Capital Management, L.P. 9.47% of their portfolio San Francisco, CA 422,857422.9k $102.3m $102.3m 9.47% Reduced -57.2k -57,250
76 Jump Financial, LLC 1.28% of their portfolio Chicago, IL 417,113417.1k $100.9m $100.9m 1.28% Reduced -443.2k -443,217
77 Cresset Asset Management, LLC 0.44% of their portfolio Chicago, IL 415,021415.0k $100.4m $100.4m 0.44% Added +2.5k +2,482
78 Atom Investors LP 7.42% of their portfolio AUSTIN, TX 404,557404.6k $97.9m $97.9m 7.42% Added +89.7k +89,729
79 Focus Partners Wealth 0.16% of their portfolio ST LOUIS, MO 403,595403.6k $97.7m $97.7m 0.16% Added +27.3k +27,274
80 MERCER GLOBAL ADVISORS INC /ADV 0.16% of their portfolio DENVER, CO 402,856402.9k $97.0m $97.0m 0.16% Added +59.9k +59,923
81 State of New Jersey Common Pension Fund D 0.36% of their portfolio TRENTON, NJ 402,418402.4k $97.4m $97.4m 0.36% Unchanged
82 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.74% of their portfolio Madrid, U3 401,280401.3k $96.4m $96.4m 0.74% Added +371.5k +371,517
83 Optiver Holding B.V. 1.54% of their portfolio AMSTERDAM, P7 391,036391.0k $94.6m $94.6m 1.54% Reduced -1.2m -1,201,072
84 CITIZENS FINANCIAL GROUP INC/RI 1.28% of their portfolio PROVIDENCE, RI 386,528386.5k $93.5m $93.5m 1.28% Added +4.1k +4,061
85 Ensign Peak Advisors, Inc 0.15% of their portfolio SALT LAKE CITY, UT 385,921385.9k $93.4m $93.4m 0.15% Reduced -310.2k -310,168
86 HALBERT HARGROVE GLOBAL ADVISORS, LLC 4.34% of their portfolio LONG BEACH, CA 366,299366.3k $88.6m $88.6m 4.34% Added +6.8k +6,831
87 IMC-Chicago, LLC 1.53% of their portfolio CHICAGO, IL 356,960357.0k $86.4m $86.4m 1.53% Added +144.3k +144,326
88 CTC LLC 3.35% of their portfolio CHICAGO, IL 339,320339.3k $82.1m $82.1m 3.35% Reduced -183.5k -183,527
89 SG Americas Securities, LLC 0.29% of their portfolio NEW YORK, NY 331,900331.9k $80.3m $80.3m 0.29% Reduced -523.5k -523,485
90 Stairway Partners, LLC 4.20% of their portfolio MINNEAPOLIS, MN 327,132327.1k $79.2m $79.2m 4.20% Reduced -243 -243
91 Sanctuary Advisors, LLC 0.22% of their portfolio INDIANAPOLIS, IN 326,281326.3k $71.2m $71.2m 0.22% Added +200.4k +200,431
92 CAPTRUST FINANCIAL ADVISORS 0.16% of their portfolio RALEIGH, NC 319,897319.9k $77.4m $77.4m 0.16% Reduced -4.3k -4,263
93 WASHINGTON TRUST Co 2.54% of their portfolio WESTERLY, RI 319,551319.6k $77.3m $77.3m 2.54% Reduced -1.2k -1,174
94 Accredited Investors Inc. 4.10% of their portfolio EDINA, MN 303,453303.5k $73.4m $73.4m 4.10% Added +75.1k +75,052
95 BESSEMER GROUP INC 0.11% of their portfolio WOODBRIDGE, NJ 299,793299.8k $72.5m $72.5m 0.11% Added +92.6k +92,569
96 COMERICA BANK 0.27% of their portfolio DALLAS, TX 296,480296.5k $71.7m $71.7m 0.27% Added +2.5k +2,520
97 Silver Point Capital L.P. 3.72% of their portfolio Greenwich, CT 296,000296.0k $71.6m $71.6m 3.72% New
98 Cambridge Investment Research Advisors, Inc. 0.19% of their portfolio FAIRFIELD, IA 293,379293.4k $71.0m $71.0m 0.19% Added +24.7k +24,747
99 Janney Montgomery Scott LLC 0.17% of their portfolio PHILADELPHIA, PA 290,772290.8k $70.4m $70.4m 0.17% Added +38.5k +38,527
100 Arvest Bank Trust Division 3.86% of their portfolio DEWEY, OK 287,563287.6k $69.6m $69.6m 3.86% Reduced -13.0k -12,955