Vault-13

ISHARES TR IYR

U.S. REAL ES ETF · ETP · CUSIP 464287739

485 institutional holders -32 vs Q4 2024
42,370,71542.4m shares reported held*
$4.1bnreported value*
43 new 138 added 171 reduced 71 sold out net sold ≈ $1.4bn (-15.1m 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 ($165.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $95.76. Options: 16 managers hold calls ($541.2m notional), 17 hold puts ($425.0m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 500Q4 22: 514Q1 23: 497Q2 23: 483Q3 23: 463Q4 23: 518Q1 24: 472Q2 24: 466Q3 24: 503Q4 24: 517Q1 25: 485485Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022500
Q4 2022514
Q1 2023497
Q2 2023483
Q3 2023463
Q4 2023518
Q1 2024472
Q2 2024466
Q3 2024503
Q4 2024517
Q1 2025485

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 23: 163 bought or addedQ2 23: 247 cut or sold outQ3 23: 158 bought or addedQ3 23: 226 cut or sold outQ3 23Q4 23: 216 bought or addedQ4 23: 203 cut or sold outQ1 24: 193 bought or addedQ1 24: 242 cut or sold outQ1 24Q2 24: 185 bought or addedQ2 24: 219 cut or sold outQ3 24: 230 bought or addedQ3 24: 183 cut or sold outQ3 24Q4 24: 224 bought or addedQ4 24: 214 cut or sold outQ1 25: 181 bought or addedQ1 25: 242 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023163247
Q3 2023158226
Q4 2023216203
Q1 2024193242
Q2 2024185219
Q3 2024230183
Q4 2024224214
Q1 2025181242

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ2 24 calls: $619.4mQ2 24 puts: $512.0mQ2 24P/C 0.83Q3 24 calls: $1.2bnQ3 24 puts: $1.3bnQ3 24P/C 1.11Q4 24 calls: $851.2mQ4 24 puts: $1.0bnQ4 24P/C 1.22Q1 25 calls: $541.2mQ1 25 puts: $425.0mQ1 25P/C 0.79
Numbers
QuarterCallsPutsP/C
Q2 2024$619.4m$512.0m0.83
Q3 2024$1.2bn$1.3bn1.11
Q4 2024$851.2m$1.0bn1.22
Q1 2025$541.2m$425.0m0.79

Biggest buyers

JPMORGAN CHASE & CO Added +595,718+595.7k
CITIGROUP INC Added +473,682+473.7k
JANE STREET GROUP, LLC Added +316,034+316.0k
WealthNavi Inc. Added +240,853+240.9k
D. E. Shaw & Co., Inc. New +232,203+232.2k
Jain Global LLC New +130,650+130.7k
Quadrature Capital Ltd Added +107,601+107.6k
Jump Financial, LLC New +96,832+96.8k
Ilmarinen Mutual Pension Insurance Co Added +90,800+90.8k
MILLENNIUM MANAGEMENT LLC Added +89,431+89.4k

Biggest sellers

BARCLAYS PLC Reduced -3,894,479-3.9m
GOLDMAN SACHS GROUP INC Reduced -3,438,428-3.4m
BANK OF AMERICA CORP /DE/ Reduced -2,353,116-2.4m
USA FINANCIAL FORMULAS Reduced -801,517-801.5k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -800,000-800.0k
Modern Wealth Management, LLC Reduced -668,297-668.3k
Squarepoint Ops LLC Reduced -665,788-665.8k
BANK OF NOVA SCOTIA Sold out -500,000-500.0k
ROYAL BANK OF CANADA Reduced -399,987-400.0k
UBS Group AG Reduced -372,417-372.4k

Biggest calls

JANE STREET GROUP, LLC Reduced $214.5m2.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $103.6m1.1m shares
UBS Group AG Reduced $83.6m873.1k shares
CITADEL ADVISORS LLC Reduced $72.1m752.9k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $20.0m209.2k shares
Squarepoint Ops LLC Reduced $10.7m111.5k shares
BANK OF AMERICA CORP /DE/ New $7.7m80.0k shares
WOLVERINE TRADING, LLC Reduced $6.5m68.4k shares
BNP PARIBAS FINANCIAL MARKETS First filing $5.7m592 shares
Parallax Volatility Advisers, L.P. Added $5.0m51.7k shares

Biggest puts

UBS Group AG Reduced $134.8m1.4m shares
JANE STREET GROUP, LLC Reduced $56.5m590.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $54.3m567.2k shares
CITADEL ADVISORS LLC Reduced $48.9m510.6k shares
Squarepoint Ops LLC Reduced $27.9m291.6k shares
Jain Global LLC New $23.9m250.0k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $23.8m248.2k shares
TUDOR INVESTMENT CORP ET AL New $17.2m180.0k shares
WELLS FARGO & COMPANY/MN Unchanged $9.6m100.0k shares
WOLVERINE TRADING, LLC Reduced $8.7m91.6k 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 WealthNavi Inc. 5.00% of their portfolio Shinagawa-ku, TOKYO, M0 4,696,8574.7m $449.7m $449.7m 5.00% Added +240.9k +240,853
2 BARCLAYS PLC 0.18% of their portfolio LONDON, X0 4,069,0804.1m $389.6m $389.6m 0.18% Reduced -3.9m -3,894,479
3 CIBC WORLD MARKETS CORP 2.91% of their portfolio NEW YORK, NY 3,838,4793.8m $367.5m $367.5m 2.91% Reduced -174.2k -174,167
4 GOLDMAN SACHS GROUP INC 0.06% of their portfolio NEW YORK, NY 3,030,4903.0m $290.2m $290.2m 0.06% Reduced -3.4m -3,438,428
5 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 3,021,4783.0m $289.3m $289.3m 0.02% Reduced -290.7k -290,700
6 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,562,0271.6m $149.6m $149.6m 0.01% Reduced -2.4m -2,353,116
7 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,513,4261.5m $144.9m $144.9m 0.03% Reduced -372.4k -372,417
8 BNP PARIBAS FINANCIAL MARKETS 0.10% of their portfolio PARIS, I0 1,411,7591.4m $135.2m $135.2m 0.10% First filing
9 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,163,7481.2m $111.4m $111.4m 0.01% Added +595.7k +595,718
10 WOLVERINE TRADING, LLC 3.23% of their portfolio CHICAGO, IL 1,074,6061.1m $101.8m $101.8m 3.23% Added +17.8k +17,763
11 Ilmarinen Mutual Pension Insurance Co 0.89% of their portfolio HELSINKI, H9 1,047,9771.0m $100.3m $100.3m 0.89% Added +90.8k +90,800
12 STIFEL FINANCIAL CORP 0.08% of their portfolio ST. LOUIS, MO 760,634760.6k $72.8m $72.8m 0.08% Reduced -20.1k -20,050
13 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 726,798726.8k $69.6m $69.6m 0.02% Reduced -400.0k -399,987
14 CITIGROUP INC 0.05% of their portfolio NEW YORK, NY 724,731724.7k $69.4m $69.4m 0.05% Added +473.7k +473,682
15 BlackRock, Inc. 0.00% of their portfolio New York, NY 623,002623.0k $59.7m $59.7m 0.00% Reduced -42.4k -42,367
16 Money Design Co.,Ltd. 2.52% of their portfolio TOKYO, M0 526,905526.9k $50.5m $50.5m 2.52% Added +1.9k +1,857
17 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 467,522467.5k $44.5m $44.5m 0.03% Added +35.9k +35,890
18 US BANCORP \DE\ 0.06% of their portfolio MINNEAPOLIS, MN 433,642433.6k $41.5m $41.5m 0.06% Reduced -23.9k -23,864
19 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 422,486422.5k $40.5m $40.5m 0.01% Reduced -255.6k -255,554
20 PGIM Custom Harvest LLC 0.95% of their portfolio NEWARK, NJ 413,478413.5k $39.6m $39.6m 0.95% Added +16.9k +16,927
21 Quadrature Capital Ltd 0.86% of their portfolio LONDON, X0 407,150407.1k $39.0m $39.0m 0.86% Added +107.6k +107,601
22 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 400,387400.4k $38.3m $38.3m 0.02% Reduced -1.8k -1,804
23 JANE STREET GROUP, LLC 0.06% of their portfolio NEW YORK, NY 357,583357.6k $34.2m $34.2m 0.06% Added +316.0k +316,034
24 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 351,882351.9k $33.7m $33.7m 0.01% Reduced -90.9k -90,888
25 CONNABLE OFFICE INC 2.81% of their portfolio KALAMAZOO, MI 275,246275.2k $26.4m $26.4m 2.81% Reduced -136.2k -136,211
26 FUKOKU MUTUAL LIFE INSURANCE Co 1.72% of their portfolio TOKYO, M0 243,000243.0k $23.3m $23.3m 1.72% Unchanged
27 Squarepoint Ops LLC 0.06% of their portfolio NEW YORK, NY 240,917240.9k $23.1m $23.1m 0.06% Reduced -665.8k -665,788
28 Pathstone Holdings, LLC 0.10% of their portfolio ENGLEWOOD, NJ 236,695236.7k $22.7m $22.7m 0.10% Reduced -9.6k -9,647
29 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 236,277236.3k $22.6m $22.6m 0.02% Added +11.7k +11,651
30 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 232,203232.2k $22.2m $22.2m 0.03% New
31 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 230,149230.1k $20.7m $20.7m 0.01% Reduced -219.8k -219,779
32 MERCER GLOBAL ADVISORS INC /ADV 0.05% of their portfolio DENVER, CO 220,393220.4k $21.1m $21.1m 0.05% Added +26.9k +26,898
33 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 203,747203.7k $19.5m $19.5m 0.01% Reduced -35.1k -35,131
34 Mariner, LLC 0.03% of their portfolio Overland Park, KS 185,770185.8k $17.8m $17.8m 0.03% Reduced -11.4k -11,361
35 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 179,008179.0k $17.1m $17.1m 0.02% Added +89.4k +89,431
36 Passaic Partners LLC 2.23% of their portfolio NEWARK, NJ 153,447153.4k $14.7m $14.7m 2.23% Reduced -25.3k -25,304
37 NorthCoast Asset Management LLC 0.07% of their portfolio STAMFORD, CT 150,572150.6k $14.4m $14.4m 0.07% Added +84.5k +84,493
38 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio TORONTO, A6 150,000150.0k $14.4m $14.4m 0.03% Reduced -800.0k -800,000
39 GTS SECURITIES LLC 0.61% of their portfolio NEW YORK, NY 146,931146.9k $14.1m $14.1m 0.61% Added +32.3k +32,281
40 Sand Hill Global Advisors, LLC 0.58% of their portfolio Palo Alto, CA 145,982146.0k $14.0m $14.0m 0.58% Reduced -7.3k -7,306
41 Magnus Financial Group LLC 1.34% of their portfolio NEW YORK, NY 144,650144.7k $13.9m $13.9m 1.34% Added +7.7k +7,706
42 Financial Advisory Corp 2.26% of their portfolio Grand Rapids, MI 142,878142.9k $13.7m $13.7m 2.26% Added +1.8k +1,813
43 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 130,851130.9k $12.5m $12.5m 0.00% Reduced -54.8k -54,772
44 Jain Global LLC 0.26% of their portfolio NEW YORK, NY 130,650130.7k $12.5m $12.5m 0.26% New
45 SUMITOMO MITSUI FINANCIAL GROUP, INC. 0.22% of their portfolio TOKYO, M0 126,934126.9k $12.2m $12.2m 0.22% Added +7.2k +7,235
46 J. Goldman & Co LP 0.39% of their portfolio NEW YORK, NY 113,581113.6k $10.9m $10.9m 0.39% Added +70.0k +70,000
47 Jacobi Capital Management LLC 0.72% of their portfolio PITTSTON, PA 101,814101.8k $9.7m $9.7m 0.72% Added +1.4k +1,362
48 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 101,109101.1k $9.7m $9.7m 0.03% Added +7.3k +7,335
49 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 101,049101.0k $9.7m $9.7m 0.01% Reduced -16.1k -16,057
50 Jump Financial, LLC 0.14% of their portfolio Chicago, IL 96,83296.8k $9.3m $9.3m 0.14% New
51 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 96,37796.4k $9.2m $9.2m 0.02% Reduced -17.5k -17,501
52 Itau Unibanco Holding S.A. 0.33% of their portfolio SAO PAULO, D5 89,25589.3k $8.5m $8.5m 0.33% Added +79.6k +79,590
53 Kensington Asset Management, LLC 0.82% of their portfolio AUSTIN, TX 81,87381.9k $7.8m $7.8m 0.82% Not comparable
54 Aspect Partners, LLC 4.32% of their portfolio FAIRFAX, VA 78,80278.8k $7.5m $7.5m 4.32% Added +57.7k +57,709
55 TUDOR INVESTMENT CORP ET AL 0.07% of their portfolio STAMFORD, CT 77,87977.9k $7.5m $7.5m 0.07% Added +17.8k +17,753
56 IFP Advisors, Inc 0.22% of their portfolio TAMPA, FL 74,50174.5k $7.1m $7.1m 0.22% Reduced -33 -33
57 Maven Securities LTD 1.56% of their portfolio ST HELIER, Y9 74,44374.4k $7.1m $7.1m 1.56% Added +7.0k +7,027
58 BAILARD, INC. 0.17% of their portfolio Foster City, CA 70,24970.2k $6.7m $6.7m 0.17% Reduced -2.1k -2,105
59 Matthew Goff Investment Advisor, LLC 1.24% of their portfolio HOUSTON, TX 70,14270.1k $6.7m $6.7m 1.24% Added +142 +142
60 Global Endowment Management, LP 0.86% of their portfolio CHARLOTTE, NC 68,88068.9k $6.6m $6.6m 0.86% Added +27.0k +27,000
61 MISSION WEALTH MANAGEMENT, LP 0.17% of their portfolio Santa Barbara, CA 68,78968.8k $6.6m $6.6m 0.17% Reduced -4.8k -4,818
62 UNIQUE WEALTH, LLC 1.21% of their portfolio TAMPA, FL 66,92866.9k $6.4m $6.4m 1.21% Added +9.7k +9,736
63 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 64,63864.6k $6.2m $6.2m 0.02% Reduced -20.6k -20,582
64 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 64,54164.5k $6.2m $6.2m 0.01% Reduced -11.1k -11,131
65 SCS Capital Management LLC 0.08% of their portfolio BOSTON, MA 63,31463.3k $6.1m $6.1m 0.08% Added +28.6k +28,619
66 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 62,67162.7k $6.0m $6.0m 0.02% Added +51.4k +51,437
67 REBALANCE, LLC 0.42% of their portfolio PALO ALTO, CA 59,34359.3k $5.7m $5.7m 0.42% Reduced -4.3k -4,310
68 Mirae Asset Global Investments Co., Ltd. 0.02% of their portfolio SEOUL, M5 57,63757.6k $5.5m $5.5m 0.02% Added +20.2k +20,155
69 Running Point Capital Advisors, LLC 1.65% of their portfolio EL SEGUNDO, CA 54,12754.1k $5.2m $5.2m 1.65% Reduced -3.3k -3,312
70 ARKANSAS FINANCIAL GROUP, INC. 0.82% of their portfolio LITTLE ROCK, AR 53,98454.0k $4.7m $4.7m 0.82% Reduced -954 -954
71 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 52,98153.0k $5.1m $5.1m 0.01% Reduced -1.4k -1,359
72 COURIER CAPITAL LLC 0.33% of their portfolio BUFFALO, NY 52,72852.7k $5.0m $5.0m 0.33% Added +783 +783
73 FOX RUN MANAGEMENT, L.L.C. 0.78% of their portfolio GREENWICH, CT 52,50052.5k $5.0m $5.0m 0.78% Added +9.8k +9,800
74 CIBC WORLD MARKET INC. 0.01% of their portfolio TORONTO, A6 52,48252.5k $5.0m $5.0m 0.01% Reduced -72.1k -72,136
75 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 52,28552.3k $5.0m $5.0m 0.01% Reduced -25.4k -25,397
76 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 50,15350.2k $4.8m $4.8m 0.01% Reduced -35.9k -35,940
77 New Republic Capital, LLC 2.08% of their portfolio CHARLOTTE, NC 50,12350.1k $4.8m $4.8m 2.08% Added +50.1k +50,053
78 Measured Wealth Private Client Group, LLC 1.45% of their portfolio PORTSMOUTH, NH 47,33247.3k $4.5m $4.5m 1.45% Added +28.0k +28,016
79 CarsonAllaria Wealth Management, Ltd. 2.62% of their portfolio GLEN CARBON, IL 47,22147.2k $4.5m $4.5m 2.62% Reduced -4.1k -4,055
80 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 46,23446.2k $4.4m $4.4m 0.01% Reduced -977 -977
81 Brevan Howard Capital Management LP 0.12% of their portfolio ST. HELIER, Y9 44,14844.1k $4.2m $4.2m 0.12% New
82 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 43,83843.8k $4.2m $4.2m 0.01% Reduced -2.9k -2,949
83 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 43,58943.6k $4.2m $4.2m 0.01% Added +880 +880
84 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 43,23243.2k $4.1m $4.1m 0.01% Reduced -23.6k -23,605
85 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 41,04141.0k $3.9m $3.9m 0.02% Added +36.5k +36,462
86 Glenview Trust Co 0.07% of their portfolio Louisville, KY 39,54839.5k $3.8m $3.8m 0.07% Reduced -57 -57
87 Rodgers & Associates, LTD 0.45% of their portfolio Lancaster, PA 38,22838.2k $3.7m $3.7m 0.45% Added +1.4k +1,422
88 Pictet North America Advisors SA 0.36% of their portfolio GENEVA 73, V8 37,43437.4k $3.6m $3.6m 0.36% Unchanged
89 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 37,25337.3k $3.6m $3.6m 0.01% Reduced -152.7k -152,746
90 STEPHENS INC /AR/ 0.05% of their portfolio LITTLE ROCK, AR 36,40836.4k $3.5m $3.5m 0.05% Reduced -1.1k -1,091
91 SHEETS SMITH WEALTH MANAGEMENT 0.43% of their portfolio WINSTON-SALEM, NC 36,00036.0k $3.4m $3.4m 0.43% Unchanged
92 Allie Family Office LLC 1.89% of their portfolio MIAMI, FL 35,98936.0k $3.4m $3.4m 1.89% Added +4.1k +4,133
93 Allegheny Financial Group 0.88% of their portfolio Pittsburgh, PA 35,94735.9k $3.4m $3.4m 0.88% Reduced -430 -430
94 Modern Wealth Management, LLC 0.11% of their portfolio KANSAS CITY, MO 35,94335.9k $3.4m $3.4m 0.11% Reduced -668.3k -668,297
95 Whitegate Investment Counselors, Inc. 1.22% of their portfolio CONCORD, NH 35,83135.8k $3.4m $3.4m 1.22% Added +6 +6
96 Checchi Capital Advisers, LLC 0.24% of their portfolio BEVERLY HILLS, CA 35,38335.4k $3.4m $3.4m 0.24% Reduced -3.6k -3,574
97 Lifeworks Advisors, LLC 0.56% of their portfolio GRAND RAPIDS, MI 34,87334.9k $3.3m $3.3m 0.56% Reduced -14.0k -14,020
98 Liquid Strategies, LLC 0.62% of their portfolio ATLANTA, GA 34,30434.3k $3.3m $3.3m 0.62% New
99 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.03% of their portfolio Madrid, U3 33,79333.8k $3.2m $3.2m 0.03% Added +1.3k +1,299
100 Fairway Wealth LLC 1.18% of their portfolio INDEPENDENCE, OH 33,30233.3k $3.2m $3.2m 1.18% Added +10 +10