Vault-13

ISHARES TR IWM

RUSSELL 2000 ETF · ETP · CUSIP 464287655 · ISIN US4642876555

2,604 institutional holders +165 vs Q3 2025
285,865,386285.9m shares reported held*
$70.3bnreported value*
190 new 879 added 903 reduced 139 sold out net bought ≈ $1.2bn (+4.8m 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 ($104.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $245.92. Options: 92 managers hold calls ($38.6bn notional), 132 hold puts ($85.4bn).

Trends to Q4 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: 2,439Q4 25: 2,6042,604Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 20252,604

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ1 24: 994 bought or addedQ1 24: 1,020 cut or sold outQ2 24: 916 bought or addedQ2 24: 1,042 cut or sold outQ2 24Q3 24: 1,076 bought or addedQ3 24: 890 cut or sold outQ4 24: 1,164 bought or addedQ4 24: 865 cut or sold outQ4 24Q1 25: 889 bought or addedQ1 25: 1,328 cut or sold outQ2 25: 917 bought or addedQ2 25: 1,172 cut or sold outQ2 25Q3 25: 995 bought or addedQ3 25: 1,083 cut or sold outQ4 25: 1,069 bought or addedQ4 25: 1,042 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20249941,020
Q2 20249161,042
Q3 20241,076890
Q4 20241,164865
Q1 20258891,328
Q2 20259171,172
Q3 20259951,083
Q4 20251,0691,042

Calls vs puts

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

CallsPuts
$0$50bn$100bn$150bnQ1 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 2.44Q4 25 calls: $38.6bnQ4 25 puts: $85.4bnQ4 25P/C 2.21
Numbers
QuarterCallsPutsP/C
Q1 2025$45.2bn$107.8bn2.38
Q2 2025$62.7bn$119.4bn1.91
Q3 2025$51.7bn$126.4bn2.44
Q4 2025$38.6bn$85.4bn2.21

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +6,886,453+6.9m
HRT FINANCIAL LP Added +2,184,265+2.2m
JANE STREET GROUP, LLC Added +1,794,172+1.8m
Jump Financial, LLC Added +1,237,915+1.2m
IMC-Chicago, LLC Added +1,228,526+1.2m
BlackRock, Inc. Added +1,171,901+1.2m
Allianz Asset Management GmbH Added +1,138,750+1.1m
UBS Group AG Added +939,417+939.4k
BARCLAYS PLC Added +773,658+773.7k
Corient Private Wealth LP Added +759,984+760.0k

Biggest sellers

JPMORGAN CHASE & CO Reduced -11,397,378-11.4m
Rafferty Asset Management, LLC Reduced -1,573,628-1.6m
Varma Mutual Pension Insurance Co Sold out -1,458,061-1.5m
BANK OF MONTREAL /CAN/ Reduced -1,253,393-1.3m
WELLS FARGO & COMPANY/MN Reduced -1,031,844-1.0m
MORGAN STANLEY Reduced -1,030,829-1.0m
Clal Insurance Enterprises Holdings Ltd Reduced -884,000-884.0k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -677,000-677.0k
SIMPLEX TRADING, LLC Sold out -617,585-617.6k
Impactive Capital LP Reduced -533,637-533.6k

Biggest calls

JANE STREET GROUP, LLC Reduced $5.9bn23.8m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $4.7bn19.2m shares
CITADEL ADVISORS LLC Reduced $4.2bn16.9m shares
MILLENNIUM MANAGEMENT LLC Added $3.9bn15.7m shares
BARCLAYS PLC Reduced $3.3bn13.5m shares
TUDOR INVESTMENT CORP ET AL Reduced $2.3bn9.2m shares
CITIGROUP INC Added $1.5bn6.1m shares
UBS Group AG Reduced $1.4bn5.9m shares
BNP PARIBAS FINANCIAL MARKETS Reduced $1.2bn50.4k shares
WELLS FARGO & COMPANY/MN Reduced $1.2bn4.8m shares

Biggest puts

JANE STREET GROUP, LLC Reduced $9.3bn37.8m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $9.0bn36.5m shares
MILLENNIUM MANAGEMENT LLC Added $7.6bn30.7m shares
BARCLAYS PLC Reduced $7.3bn29.7m shares
TUDOR INVESTMENT CORP ET AL Reduced $6.9bn28.1m shares
CITADEL ADVISORS LLC Reduced $5.9bn24.0m shares
CITIGROUP INC Reduced $4.6bn18.8m shares
ROYAL BANK OF CANADA Reduced $3.5bn14.1m shares
UBS Group AG Added $2.7bn10.8m shares
WELLS FARGO & COMPANY/MN Reduced $2.4bn9.7m 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/ 0.78% of their portfolio CHARLOTTE, NC 43,751,73543.8m $10.8bn $10.8bn 0.78% Added +6.9m +6,886,453
2 MORGAN STANLEY 0.25% of their portfolio NEW YORK, NY 17,121,14017.1m $4.2bn $4.2bn 0.25% Reduced -1.0m -1,030,829
3 GOLDMAN SACHS GROUP INC 0.52% of their portfolio NEW YORK, NY 14,743,03614.7m $3.6bn $3.6bn 0.52% Reduced -314.4k -314,359
4 WELLS FARGO & COMPANY/MN 0.58% of their portfolio SAN FRANCISCO, CA 12,130,90912.1m $3.0bn $3.0bn 0.58% Reduced -1.0m -1,031,844
5 BlackRock, Inc. 0.04% of their portfolio New York, NY 10,337,13910.3m $2.5bn $2.5bn 0.04% Added +1.2m +1,171,901
6 Empower Advisory Group, LLC 5.63% of their portfolio Greenwood Village, CO 8,470,2968.5m $2.1bn $2.1bn 5.63% Reduced -146.4k -146,397
7 ROYAL BANK OF CANADA 0.34% of their portfolio TORONTO, A6 7,937,4657.9m $2.0bn $2.0bn 0.34% Added +339.2k +339,199
8 LPL Financial LLC 0.50% of their portfolio FORT MILL, SC 7,446,9777.4m $1.8bn $1.8bn 0.50% Added +79.5k +79,527
9 Rafferty Asset Management, LLC 4.23% of their portfolio New York, NY 4,978,7325.0m $1.2bn $1.2bn 4.23% Reduced -1.6m -1,573,628
10 BNP PARIBAS FINANCIAL MARKETS 0.77% of their portfolio PARIS, I0 4,961,5855.0m $1.2bn $1.2bn 0.77% Added +496.4k +496,366
11 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 2.05% of their portfolio TORONTO, A6 4,929,0004.9m $1.2bn $1.2bn 2.05% Reduced -677.0k -677,000
12 UBS Group AG 0.24% of their portfolio ZURICH, V8 4,824,8924.8m $1.2bn $1.2bn 0.24% Added +939.4k +939,417
13 NORTHERN TRUST CORP 0.13% of their portfolio CHICAGO, IL 4,252,5724.3m $1.0bn $1.0bn 0.13% Added +130.7k +130,667
14 HRT FINANCIAL LP 4.06% of their portfolio NEW YORK, NY 4,119,1654.1m $1.0bn $1.0bn 4.06% Added +2.2m +2,184,265
15 JPMORGAN CHASE & CO 0.07% of their portfolio NEW YORK, NY 4,093,2864.1m $1.0bn $1.0bn 0.07% Reduced -11.4m -11,397,378
16 SUSQUEHANNA INTERNATIONAL GROUP, LLP 1.32% of their portfolio BALA CYNWYD, PA 3,896,3983.9m $959.1m $959.1m 1.32% Added +25.7k +25,742
17 BANK OF MONTREAL /CAN/ 0.37% of their portfolio TORONTO, A6 3,722,5713.7m $916.3m $916.3m 0.37% Reduced -1.3m -1,253,393
18 BARCLAYS PLC 0.35% of their portfolio LONDON, X0 3,533,4493.5m $869.8m $869.8m 0.35% Added +773.7k +773,658
19 CITIGROUP INC 0.53% of their portfolio NEW YORK, NY 3,181,1353.2m $783.1m $783.1m 0.53% Added +666.6k +666,584
20 PNC Financial Services Group, Inc. 0.40% of their portfolio Pittsburgh, PA 2,990,2783.0m $736.1m $736.1m 0.40% Reduced -650 -650
21 CANADA PENSION PLAN INVESTMENT BOARD 0.46% of their portfolio TORONTO ONTARIO, A6 2,781,0002.8m $684.6m $684.6m 0.46% Unchanged
22 US BANCORP \DE\ 0.67% of their portfolio MINNEAPOLIS, MN 2,309,5852.3m $568.5m $568.5m 0.67% Reduced -293.7k -293,708
23 M&T Bank Corp 1.76% of their portfolio BUFFALO, NY 2,229,7442.2m $548.9m $548.9m 1.76% Reduced -26.0k -26,037
24 FMR LLC 0.03% of their portfolio BOSTON, MA 2,192,8322.2m $539.8m $539.8m 0.03% Added +18.5k +18,528
25 ENVESTNET ASSET MANAGEMENT INC 0.15% of their portfolio Berwyn, PA 2,029,8462.0m $499.7m $499.7m 0.15% Added +62.6k +62,600
26 Treasurer of the State of North Carolina 1.60% of their portfolio RALEIGH, NC 2,028,3632.0m $499.3m $499.3m 1.60% Added +6.8k +6,843
27 JANE STREET GROUP, LLC 0.56% of their portfolio NEW YORK, NY 1,921,2551.9m $472.9m $472.9m 0.56% Added +1.8m +1,794,172
28 Bank of New York Mellon Corp 0.08% of their portfolio NEW YORK, NY 1,900,4571.9m $467.8m $467.8m 0.08% Reduced -2.3k -2,280
29 RAYMOND JAMES FINANCIAL INC 0.14% of their portfolio ST. PETERSBURG, FL 1,886,2251.9m $464.3m $464.3m 0.14% Reduced -39.1k -39,092
30 CIBC WORLD MARKET INC. 0.82% of their portfolio TORONTO, A6 1,869,4651.9m $460.2m $460.2m 0.82% Added +499.3k +499,263
31 Jefferies Financial Group Inc. 3.48% of their portfolio NEW YORK, NY 1,726,8911.7m $425.1m $425.1m 3.48% Added +270.4k +270,370
32 Cetera Investment Advisers 0.46% of their portfolio SCHAUMBURG, IL 1,724,4801.7m $424.5m $424.5m 0.46% Added +51.8k +51,768
33 Jump Financial, LLC 5.11% of their portfolio Chicago, IL 1,655,0281.7m $407.4m $407.4m 5.11% Added +1.2m +1,237,915
34 IMC-Chicago, LLC 6.86% of their portfolio CHICAGO, IL 1,585,4861.6m $390.3m $390.3m 6.86% Added +1.2m +1,228,526
35 Millburn Ridgefield LLC /DE/ 8.40% of their portfolio New York, NY 1,431,7491.4m $352.4m $352.4m 8.40% Reduced -75.4k -75,370
36 Catalyst Capital Advisors LLC 7.24% of their portfolio San Juan, PR 1,431,7491.4m $352.4m $352.4m 7.24% Reduced -75.4k -75,370
37 AMERIPRISE FINANCIAL INC 0.08% of their portfolio MINNEAPOLIS, MN 1,374,2681.4m $338.3m $338.3m 0.08% Reduced -42.9k -42,939
38 Corient Private Wealth LP 0.19% of their portfolio MIAMI, FL 1,308,4221.3m $288.2m $288.2m 0.19% Added +760.0k +759,984
39 TRUIST FINANCIAL CORP 0.41% of their portfolio CHARLOTTE, NC 1,259,8291.3m $310.1m $310.1m 0.41% Reduced -104.0k -103,988
40 Allianz Asset Management GmbH 0.33% of their portfolio MUNICH, 2M 1,173,1501.2m $288.8m $288.8m 0.33% Added +1.1m +1,138,750
41 HSBC HOLDINGS PLC 0.08% of their portfolio LONDON, X0 1,099,4801.1m $271.3m $271.3m 0.08% Added +672.3k +672,275
42 MIRAE ASSET SECURITIES (USA) INC. 10.58% of their portfolio NEW YORK, NY 1,086,5311.1m $267.5m $267.5m 10.58% Added +446.9k +446,869
43 Pinnacle Financial Partners, Inc. 1.97% of their portfolio ATLANTA, GA 1,059,2461.1m $260.8m $260.8m 1.97% First filing
44 JONES FINANCIAL COMPANIES LLLP 0.16% of their portfolio DES PERES, MO 1,039,0001.0m $255.8m $255.8m 0.16% Added +21.1k +21,132
45 BROWN ADVISORY INC 0.35% of their portfolio BALTIMORE, MD 1,018,2601.0m $250.7m $250.7m 0.35% Added +120.7k +120,666
46 CITADEL ADVISORS LLC 0.16% of their portfolio MIAMI, FL 968,004968.0k $238.3m $238.3m 0.16% Added +488.0k +488,008
47 WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio Boston, MA 933,099933.1k $229.7m $229.7m 0.04% Reduced -247.6k -247,580
48 ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio NASHVILLE, TN 898,493898.5k $221.2m $221.2m 0.07% Reduced -23.1k -23,119
49 AMG National Trust Bank 4.77% of their portfolio GREENWOOD VILLAGE, CO 822,617822.6k $202.5m $202.5m 4.77% Reduced -5.5k -5,541
50 Pathstone Holdings, LLC 0.77% of their portfolio ENGLEWOOD, NJ 804,850804.9k $198.4m $198.4m 0.77% Reduced -97.2k -97,188
51 KEYBANK NATIONAL ASSOCIATION/OH 0.70% of their portfolio BROOKLYN, OH 792,488792.5k $195.1m $195.1m 0.70% Reduced -6.8k -6,804
52 Rockefeller Capital Management L.P. 0.32% of their portfolio NEW YORK, NY 711,278711.3k $175.1m $175.1m 0.32% Reduced -5.6k -5,615
53 LBMC INVESTMENT ADVISORS, LLC 10.74% of their portfolio BRENTWOOD, TN 709,274709.3k $174.6m $174.6m 10.74% Added +5.0k +5,013
54 CIBC Private Wealth Group LLC 0.29% of their portfolio ATLANTA, GA 689,771689.8k $169.8m $169.8m 0.29% Added +49.1k +49,149
55 Mariner, LLC 0.20% of their portfolio Overland Park, KS 673,232673.2k $165.7m $165.7m 0.20% Added +16.5k +16,525
56 STIFEL FINANCIAL CORP 0.15% of their portfolio ST. LOUIS, MO 663,433663.4k $163.3m $163.3m 0.15% Added +52.3k +52,343
57 AIA Group Ltd 2.44% of their portfolio HONG KONG, K3 662,310662.3k $163.0m $163.0m 2.44% New
58 D. E. Shaw & Co., Inc. 0.12% of their portfolio New York, NY 658,359658.4k $162.1m $162.1m 0.12% Added +420.2k +420,179
59 Valiant Capital Management, L.P. 13.60% of their portfolio San Francisco, CA 657,301657.3k $161.8m $161.8m 13.60% Added +234.4k +234,444
60 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.10% of their portfolio MILWAUKEE, WI 636,481636.5k $156.7m $156.7m 0.10% Added +27.5k +27,476
61 Parallax Volatility Advisers, L.P. 4.80% of their portfolio San Francisco, CA 625,766625.8k $154.0m $154.0m 4.80% New
62 TUDOR INVESTMENT CORP ET AL 0.84% of their portfolio STAMFORD, CT 622,090622.1k $153.1m $153.1m 0.84% Added +510.4k +510,357
63 FRANKLIN RESOURCES INC 0.04% of their portfolio San Mateo, CA 611,098611.1k $150.4m $150.4m 0.04% Reduced -75.8k -75,791
64 Creative Planning 0.11% of their portfolio OVERLAND PARK, KS 605,575605.6k $149.1m $149.1m 0.11% Added +36.9k +36,866
65 Optiver Holding B.V. 2.70% of their portfolio AMSTERDAM, P7 605,499605.5k $149.0m $149.0m 2.70% Added +214.5k +214,463
66 MILLENNIUM MANAGEMENT LLC 0.11% of their portfolio NEW YORK, NY 596,431596.4k $146.8m $146.8m 0.11% Reduced -276.7k -276,660
67 Focus Partners Wealth 0.17% of their portfolio ST LOUIS, MO 594,390594.4k $146.1m $146.1m 0.17% Added +190.8k +190,795
68 FIFTH THIRD BANCORP 0.46% of their portfolio CINCINNATI, OH 592,289592.3k $145.8m $145.8m 0.46% Reduced -28.7k -28,716
69 HighTower Advisors, LLC 0.16% of their portfolio CHICAGO, IL 590,250590.2k $145.3m $145.3m 0.16% Reduced -16.1k -16,142
70 Baird Financial Group, Inc. 0.23% of their portfolio MILWAUKEE, WI 587,244587.2k $144.6m $144.6m 0.23% Reduced -14.3k -14,251
71 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.39% of their portfolio LOS ANGELES, CA 584,126584.1k $143.8m $143.8m 0.39% Added +522.4k +522,430
72 TIAA TRUST, NATIONAL ASSOCIATION 0.33% of their portfolio CHARLOTTE, NC 564,725564.7k $139.0m $139.0m 0.33% Reduced -25.2k -25,158
73 Sand Hill Global Advisors, LLC 4.84% of their portfolio Palo Alto, CA 562,884562.9k $138.6m $138.6m 4.84% Reduced -19.7k -19,747
74 BLAIR WILLIAM & CO/IL 0.37% of their portfolio CHICAGO, IL 558,738558.7k $137.5m $137.5m 0.37% Added +58.3k +58,277
75 OSAIC HOLDINGS, INC. 0.19% of their portfolio SCOTTSDALE, AZ 539,419539.4k $132.9m $132.9m 0.19% Reduced -350 -350
76 Cerity Partners LLC 0.19% of their portfolio NEW YORK, NY 535,711535.7k $131.9m $131.9m 0.19% Added +10.7k +10,710
77 COMMONWEALTH EQUITY SERVICES, LLC 0.17% of their portfolio WALTHAM, MA 520,588520.6k $128.1m $128.1m 0.17% Reduced -50.7k -50,744
78 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.88% of their portfolio Madrid, U3 513,755513.8k $126.8m $126.8m 0.88% Added +112.5k +112,475
79 MAI Capital Management 0.70% of their portfolio INDEPENDENCE, OH 495,097495.1k $121.9m $121.9m 0.70% Added +11.2k +11,170
80 BROADWOOD CAPITAL INC 7.07% of their portfolio New York, NY 474,920474.9k $116.9m $116.9m 7.07% Unchanged
81 MERCER GLOBAL ADVISORS INC /ADV 0.18% of their portfolio DENVER, CO 474,279474.3k $116.2m $116.2m 0.18% Added +71.4k +71,423
82 GLENMEDE TRUST CO NA 0.54% of their portfolio PHILADELPHIA, PA 466,138466.1k $114.7m $114.7m 0.54% First filing
83 COMMERCE BANK 0.62% of their portfolio KANSAS CITY, MO 452,553452.6k $111.4m $111.4m 0.62% Reduced -7.5k -7,471
84 Cresset Asset Management, LLC 0.46% of their portfolio Chicago, IL 434,935434.9k $107.1m $107.1m 0.46% Added +19.9k +19,914
85 Stairway Partners, LLC 5.30% of their portfolio MINNEAPOLIS, MN 416,172416.2k $102.4m $102.4m 5.30% Added +89.0k +89,040
86 State of New Jersey Common Pension Fund D 0.36% of their portfolio TRENTON, NJ 402,418402.4k $99.1m $99.1m 0.36% Unchanged
87 CITIZENS FINANCIAL GROUP INC/RI 1.29% of their portfolio PROVIDENCE, RI 391,062391.1k $96.3m $96.3m 1.29% Added +4.5k +4,534
88 HALBERT HARGROVE GLOBAL ADVISORS, LLC 4.34% of their portfolio LONG BEACH, CA 368,657368.7k $90.7m $90.7m 4.34% Added +2.4k +2,358
89 MONEY CONCEPTS CAPITAL CORP 5.01% of their portfolio PALM BEACH GARDENS, FL 362,910362.9k $89.3m $89.3m 5.01% Added +353.6k +353,560
90 BESSEMER GROUP INC 0.13% of their portfolio WOODBRIDGE, NJ 357,032357.0k $87.9m $87.9m 0.13% Added +57.2k +57,239
91 CAPTRUST FINANCIAL ADVISORS 0.16% of their portfolio RALEIGH, NC 331,937331.9k $81.7m $81.7m 0.16% Added +12.0k +12,040
92 Accredited Investors Inc. 4.32% of their portfolio EDINA, MN 330,146330.1k $81.3m $81.3m 4.32% Added +26.7k +26,693
93 COMERICA BANK 0.31% of their portfolio DALLAS, TX 320,683320.7k $78.9m $78.9m 0.31% Added +24.2k +24,203
94 Balyasny Asset Management L.P. 0.15% of their portfolio Chicago, IL 319,832319.8k $78.7m $78.7m 0.15% Reduced -144.8k -144,840
95 WASHINGTON TRUST Co 2.53% of their portfolio WESTERLY, RI 315,052315.1k $77.6m $77.6m 2.53% Reduced -4.5k -4,499
96 National Philanthropic Trust 0.76% of their portfolio Jenkintown, PA 314,615314.6k $77.4m $77.4m 0.76% Added +47.9k +47,919
97 Ensign Peak Advisors, Inc 0.14% of their portfolio SALT LAKE CITY, UT 312,938312.9k $77.0m $77.0m 0.14% Reduced -73.0k -72,983
98 Walleye Trading LLC 1.22% of their portfolio NEW YORK, NY 309,417309.4k $76.2m $76.2m 1.22% Added +88.9k +88,920
99 Cambridge Investment Research Advisors, Inc. 0.20% of their portfolio FAIRFIELD, IA 302,938302.9k $74.6m $74.6m 0.20% Added +9.6k +9,559
100 MARSHALL WACE, LLP 0.07% of their portfolio LONDON, X0 301,844301.8k $74.3m $74.3m 0.07% Added +46.3k +46,313