Vault-13

ISHARES TR IYR

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

480 institutional holders -5 vs Q1 2025
48,907,60348.9m shares reported held*
$4.5bnreported value*
40 new 154 added 159 reduced 46 sold out net bought ≈ $479.5m (+6.6m 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 ($1.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $91.82. Options: 17 managers hold calls ($701.8m notional), 22 hold puts ($547.6m).

Trends to Q2 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: 485Q2 25: 480480Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 2025480

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 158 bought or addedQ3 23: 226 cut or sold outQ4 23: 216 bought or addedQ4 23: 203 cut or sold outQ4 23Q1 24: 193 bought or addedQ1 24: 242 cut or sold outQ2 24: 185 bought or addedQ2 24: 219 cut or sold outQ2 24Q3 24: 230 bought or addedQ3 24: 183 cut or sold outQ4 24: 224 bought or addedQ4 24: 214 cut or sold outQ4 24Q1 25: 181 bought or addedQ1 25: 242 cut or sold outQ2 25: 194 bought or addedQ2 25: 205 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023158226
Q4 2023216203
Q1 2024193242
Q2 2024185219
Q3 2024230183
Q4 2024224214
Q1 2025181242
Q2 2025194205

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ3 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 0.79Q2 25 calls: $701.8mQ2 25 puts: $547.6mQ2 25P/C 0.78
Numbers
QuarterCallsPutsP/C
Q3 2024$1.2bn$1.3bn1.11
Q4 2024$851.2m$1.0bn1.22
Q1 2025$541.2m$425.0m0.79
Q2 2025$701.8m$547.6m0.78

Biggest buyers

MORGAN STANLEY Added +1,996,656+2.0m
Gallagher Fiduciary Advisors, LLC Added +1,538,141+1.5m
CITIGROUP INC Added +1,083,044+1.1m
ROYAL BANK OF CANADA Added +764,742+764.7k
BANK OF AMERICA CORP /DE/ Added +674,584+674.6k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +600,000+600.0k
HSBC HOLDINGS PLC Added +322,881+322.9k
WOLVERINE TRADING, LLC Added +253,110+253.1k
UBS Group AG Added +241,368+241.4k
GOLDMAN SACHS GROUP INC Added +216,800+216.8k

Biggest sellers

BARCLAYS PLC Reduced -676,824-676.8k
Quadrature Capital Ltd Sold out -407,150-407.1k
D. E. Shaw & Co., Inc. Sold out -232,203-232.2k
Ilmarinen Mutual Pension Insurance Co Reduced -193,000-193.0k
CIBC WORLD MARKETS CORP Reduced -178,447-178.4k
JPMORGAN CHASE & CO Reduced -148,862-148.9k
GTS SECURITIES LLC Sold out -146,931-146.9k
Squarepoint Ops LLC Reduced -136,294-136.3k
Jain Global LLC Sold out -130,650-130.7k
STIFEL FINANCIAL CORP Reduced -113,527-113.5k

Biggest calls

JANE STREET GROUP, LLC Added $330.5m3.5m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $228.0m2.4m shares
CITADEL ADVISORS LLC Reduced $34.0m358.7k shares
BANK OF AMERICA CORP /DE/ Added $26.5m280.1k shares
PEAK6 LLC New $23.2m245.2k shares
MILLENNIUM MANAGEMENT LLC Added $18.6m196.4k shares
Jain Global LLC New $15.6m165.0k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $5.5m57.6k shares
WOLVERINE TRADING, LLC Reduced $4.5m47.6k shares
Squarepoint Ops LLC Reduced $3.9m41.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $193.0m2.0m shares
JANE STREET GROUP, LLC Added $115.4m1.2m shares
CITADEL ADVISORS LLC Added $66.2m698.4k shares
Jain Global LLC Added $39.3m415.0k shares
BNP PARIBAS FINANCIAL MARKETS Added $37.0m3.9k shares
MILLENNIUM MANAGEMENT LLC Added $18.0m190.3k shares
TUDOR INVESTMENT CORP ET AL Unchanged $17.1m180.0k shares
BANK OF AMERICA CORP /DE/ New $9.5m100.5k shares
WOLVERINE TRADING, LLC Reduced $7.4m78.9k shares
J. Goldman & Co LP New $6.6m70.0k 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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 5,018,1345.0m $475.6m $475.6m 0.03% Added +2.0m +1,996,656
2 WealthNavi Inc. 4.67% of their portfolio Shinagawa-ku, TOKYO, M0 4,895,0864.9m $463.9m $463.9m 4.67% Added +198.2k +198,229
3 CIBC WORLD MARKETS CORP 2.30% of their portfolio NEW YORK, NY 3,660,0323.7m $346.9m $346.9m 2.30% Reduced -178.4k -178,447
4 BARCLAYS PLC 0.13% of their portfolio LONDON, X0 3,392,2563.4m $321.5m $321.5m 0.13% Reduced -676.8k -676,824
5 GOLDMAN SACHS GROUP INC 0.05% of their portfolio NEW YORK, NY 3,247,2903.2m $307.7m $307.7m 0.05% Added +216.8k +216,800
6 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 2,236,6112.2m $212.0m $212.0m 0.02% Added +674.6k +674,584
7 CITIGROUP INC 0.12% of their portfolio NEW YORK, NY 1,807,7751.8m $171.3m $171.3m 0.12% Added +1.1m +1,083,044
8 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,754,7941.8m $166.3m $166.3m 0.03% Added +241.4k +241,368
9 Gallagher Fiduciary Advisors, LLC 0.00% of their portfolio ROLLING MEADOWS, IL 1,554,0401.6m $16.4k $16.4k 0.00% Added +1.5m +1,538,141
10 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,491,5401.5m $141.4m $141.4m 0.01% Added +764.7k +764,742
11 BNP PARIBAS FINANCIAL MARKETS 0.10% of their portfolio PARIS, I0 1,349,9571.3m $127.9m $127.9m 0.10% Reduced -61.8k -61,802
12 WOLVERINE TRADING, LLC 3.17% of their portfolio CHICAGO, IL 1,327,7161.3m $125.0m $125.0m 3.17% Added +253.1k +253,110
13 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,014,8861.0m $96.2m $96.2m 0.01% Reduced -148.9k -148,862
14 Ilmarinen Mutual Pension Insurance Co 0.65% of their portfolio HELSINKI, H9 854,977855.0k $81.0m $81.0m 0.65% Reduced -193.0k -193,000
15 HSBC HOLDINGS PLC 0.05% of their portfolio LONDON, X0 790,403790.4k $74.2m $74.2m 0.05% Added +322.9k +322,881
16 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.14% of their portfolio TORONTO, A6 750,000750.0k $71.1m $71.1m 0.14% Added +600.0k +600,000
17 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 647,107647.1k $61.3m $61.3m 0.06% Reduced -113.5k -113,527
18 BlackRock, Inc. 0.00% of their portfolio New York, NY 623,407623.4k $59.1m $59.1m 0.00% Added +405 +405
19 Money Design Co.,Ltd. 2.45% of their portfolio TOKYO, M0 553,275553.3k $52.4m $52.4m 2.45% Added +26.4k +26,370
20 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 501,387501.4k $47.5m $47.5m 0.02% Added +149.5k +149,505
21 PGIM Custom Harvest LLC 0.85% of their portfolio NEWARK, NJ 437,175437.2k $41.4m $41.4m 0.85% Added +23.7k +23,697
22 US BANCORP \DE\ 0.05% of their portfolio MINNEAPOLIS, MN 418,708418.7k $39.7m $39.7m 0.05% Reduced -14.9k -14,934
23 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 410,884410.9k $38.9m $38.9m 0.01% Reduced -11.6k -11,602
24 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 395,241395.2k $37.5m $37.5m 0.02% Reduced -5.1k -5,146
25 MERCER GLOBAL ADVISORS INC /ADV 0.08% of their portfolio DENVER, CO 367,607367.6k $34.8m $34.8m 0.08% Added +147.2k +147,214
26 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 335,818335.8k $31.8m $31.8m 0.01% Added +105.7k +105,669
27 JANE STREET GROUP, LLC 0.05% of their portfolio NEW YORK, NY 300,396300.4k $28.5m $28.5m 0.05% Reduced -57.2k -57,187
28 CONNABLE OFFICE INC 2.57% of their portfolio KALAMAZOO, MI 274,519274.5k $26.0m $26.0m 2.57% Reduced -727 -727
29 FUKOKU MUTUAL LIFE INSURANCE Co 1.47% of their portfolio TOKYO, M0 243,000243.0k $23.0m $23.0m 1.47% Unchanged
30 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 242,821242.8k $23.0m $23.0m 0.02% Added +6.5k +6,544
31 Pathstone Holdings, LLC 0.09% of their portfolio ENGLEWOOD, NJ 238,300238.3k $22.6m $22.6m 0.09% Added +1.6k +1,605
32 Passaic Partners LLC 2.49% of their portfolio NEWARK, NJ 217,134217.1k $20.6m $20.6m 2.49% Added +63.7k +63,687
33 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 209,056209.1k $19.8m $19.8m 0.01% Added +5.3k +5,309
34 Mariner, LLC 0.03% of their portfolio Overland Park, KS 188,923188.9k $17.9m $17.9m 0.03% Added +3.2k +3,153
35 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 183,974184.0k $17.4m $17.4m 0.02% Added +87.6k +87,597
36 Maven Securities LTD 4.49% of their portfolio ST HELIER, Y9 182,846182.8k $17.3m $17.3m 4.49% Added +108.4k +108,403
37 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 176,969177.0k $16.8m $16.8m 0.01% New
38 J. Goldman & Co LP 0.49% of their portfolio NEW YORK, NY 166,200166.2k $15.8m $15.8m 0.49% Added +52.6k +52,619
39 Magnus Financial Group LLC 1.26% of their portfolio NEW YORK, NY 151,239151.2k $14.3m $14.3m 1.26% Added +6.6k +6,589
40 Sand Hill Global Advisors, LLC 0.51% of their portfolio Palo Alto, CA 145,928145.9k $13.8m $13.8m 0.51% Reduced -54 -54
41 Financial Advisory Corp 2.06% of their portfolio Grand Rapids, MI 141,883141.9k $13.4m $13.4m 2.06% Reduced -995 -995
42 SUMITOMO MITSUI FINANCIAL GROUP, INC. 0.20% of their portfolio TOKYO, M0 128,337128.3k $12.2m $12.2m 0.20% Added +1.4k +1,403
43 Point72 Europe (London) LLP 0.61% of their portfolio LONDON, X0 125,112125.1k $11.9m $11.9m 0.61% New
44 Yeomans Consulting Group, Inc. 4.84% of their portfolio Marietta, GA 122,620122.6k $11.7m $11.7m 4.84% New
45 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 121,781121.8k $11.5m $11.5m 0.00% Reduced -9.1k -9,070
46 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 118,361118.4k $11.2m $11.2m 0.03% Added +53.7k +53,723
47 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 117,413117.4k $11.1m $11.1m 0.01% Reduced -61.6k -61,595
48 SG Americas Securities, LLC 0.05% of their portfolio NEW YORK, NY 117,355117.4k $11.1m $11.1m 0.05% Added +54.7k +54,684
49 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 105,704105.7k $10.0m $10.0m 0.03% Added +4.6k +4,595
50 Squarepoint Ops LLC 0.02% of their portfolio NEW YORK, NY 104,623104.6k $9.9m $9.9m 0.02% Reduced -136.3k -136,294
51 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 103,770103.8k $9.8m $9.8m 0.00% Added +2.7k +2,721
52 NorthCoast Asset Management LLC 0.04% of their portfolio STAMFORD, CT 95,32795.3k $9.0m $9.0m 0.04% Reduced -55.2k -55,245
53 Global Endowment Management, LP 1.18% of their portfolio CHARLOTTE, NC 93,88093.9k $8.9m $8.9m 1.18% Added +25.0k +25,000
54 TUDOR INVESTMENT CORP ET AL 0.07% of their portfolio STAMFORD, CT 91,59391.6k $8.7m $8.7m 0.07% Added +13.7k +13,714
55 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 85,61685.6k $8.1m $8.1m 0.01% Added +35.5k +35,463
56 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 82,89482.9k $7.9m $7.9m 0.01% Added +57.6k +57,627
57 UNIQUE WEALTH, LLC 1.16% of their portfolio TAMPA, FL 76,10876.1k $7.2m $7.2m 1.16% Added +9.2k +9,180
58 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 75,65475.7k $7.2m $7.2m 0.01% Added +38.4k +38,401
59 Farther Finance Advisors, LLC 0.13% of their portfolio SAN FRANCISCO, CA 69,87869.9k $6.6m $6.6m 0.13% Added +65.0k +65,032
60 BAILARD, INC. 0.15% of their portfolio Foster City, CA 69,49469.5k $6.6m $6.6m 0.15% Reduced -755 -755
61 Matthew Goff Investment Advisor, LLC 1.21% of their portfolio HOUSTON, TX 69,29669.3k $6.6m $6.6m 1.21% Reduced -846 -846
62 MISSION WEALTH MANAGEMENT, LP 0.13% of their portfolio Santa Barbara, CA 63,35763.4k $6.0m $6.0m 0.13% Reduced -5.4k -5,432
63 SCS Capital Management LLC 0.07% of their portfolio BOSTON, MA 63,31463.3k $6.0m $6.0m 0.07% Unchanged
64 NORDEN GROUP LLC 0.64% of their portfolio PROVO, UT 62,51762.5k $5.9m $5.9m 0.64% New
65 Aster Capital Management (DIFC) Ltd 1.34% of their portfolio DUBAI, C0 62,42262.4k $5.9m $5.9m 1.34% New
66 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 60,00160.0k $5.7m $5.7m 0.01% Reduced -4.5k -4,540
67 Modern Wealth Management, LLC 0.13% of their portfolio KANSAS CITY, MO 54,88854.9k $5.2m $5.2m 0.13% Added +18.9k +18,945
68 COURIER CAPITAL LLC 0.31% of their portfolio BUFFALO, NY 53,42053.4k $5.1m $5.1m 0.31% Added +692 +692
69 ARKANSAS FINANCIAL GROUP, INC. 0.76% of their portfolio LITTLE ROCK, AR 51,94151.9k $4.9m $4.9m 0.76% Reduced -2.0k -2,043
70 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 51,56651.6k $4.9m $4.9m 0.01% Reduced -1.4k -1,415
71 New Republic Capital, LLC 1.68% of their portfolio CHARLOTTE, NC 50,12350.1k $4.8m $4.8m 1.68% Unchanged
72 Measured Wealth Private Client Group, LLC 1.41% of their portfolio PORTSMOUTH, NH 49,68249.7k $4.7m $4.7m 1.41% Added +2.4k +2,350
73 Running Point Capital Advisors, LLC 1.30% of their portfolio EL SEGUNDO, CA 49,53649.5k $4.7m $4.7m 1.30% Reduced -4.6k -4,591
74 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 47,75747.8k $4.5m $4.5m 0.01% Added +4.2k +4,168
75 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 47,43247.4k $4.5m $4.5m 0.01% Added +1.2k +1,198
76 CarsonAllaria Wealth Management, Ltd. 2.40% of their portfolio GLEN CARBON, IL 47,23647.2k $4.5m $4.5m 2.40% Added +15 +15
77 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 46,69346.7k $4.4m $4.4m 0.01% Added +3.5k +3,461
78 REBALANCE, LLC 0.30% of their portfolio PALO ALTO, CA 46,69046.7k $4.4m $4.4m 0.30% Reduced -12.7k -12,653
79 USA FINANCIAL FORMULAS 0.72% of their portfolio ADA, MI 44,38644.4k $4.2m $4.2m 0.72% Added +44.1k +44,090
80 Trek Financial, LLC 0.28% of their portfolio Scottsdale, AZ 43,62543.6k $4.1m $4.1m 0.28% New
81 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 41,28941.3k $3.9m $3.9m 0.00% Reduced -11.0k -10,996
82 Glenview Trust Co 0.06% of their portfolio Louisville, KY 39,36239.4k $3.7m $3.7m 0.06% Reduced -186 -186
83 Clear Creek Financial Management, LLC 0.35% of their portfolio SILVERDALE, WA 39,27939.3k $3.7m $3.7m 0.35% Added +31.8k +31,799
84 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 39,00039.0k $3.7m $3.7m 0.00% Added +35.3k +35,300
85 Rodgers & Associates, LTD 0.40% of their portfolio Lancaster, PA 38,49138.5k $3.6m $3.6m 0.40% Added +263 +263
86 Allie Family Office LLC 1.78% of their portfolio MIAMI, FL 37,85537.9k $3.6m $3.6m 1.78% Added +1.9k +1,866
87 Pictet North America Advisors SA 0.36% of their portfolio GENEVA 73, V8 37,43437.4k $3.5m $3.5m 0.36% Unchanged
88 Naviter Wealth, LLC 0.43% of their portfolio LITTLE ROCK, AR 37,03537.0k $3.5m $3.5m 0.43% Added +16.7k +16,700
89 SHEETS SMITH WEALTH MANAGEMENT 0.40% of their portfolio WINSTON-SALEM, NC 36,00036.0k $3.4m $3.4m 0.40% Unchanged
90 Allegheny Financial Group 0.75% of their portfolio Pittsburgh, PA 35,44635.4k $3.4m $3.4m 0.75% Reduced -501 -501
91 Whitegate Investment Counselors, Inc. 1.14% of their portfolio CONCORD, NH 35,38835.4k $3.4m $3.4m 1.14% Reduced -443 -443
92 STEPHENS INC /AR/ 0.05% of their portfolio LITTLE ROCK, AR 35,07935.1k $3.3m $3.3m 0.05% Reduced -1.3k -1,329
93 AE Wealth Management LLC 0.02% of their portfolio TOPEKA, KS 34,77034.8k $3.3m $3.3m 0.02% Added +33.6k +33,560
94 IMC-Chicago, LLC 0.08% of their portfolio CHICAGO, IL 34,74634.7k $3.3m $3.3m 0.08% New
95 Fairway Wealth LLC 1.04% of their portfolio INDEPENDENCE, OH 34,45634.5k $3.3m $3.3m 1.04% Added +1.2k +1,154
96 Itau Unibanco Holding S.A. 0.12% of their portfolio SAO PAULO, D5 32,78632.8k $3.1m $3.1m 0.12% Reduced -56.5k -56,469
97 TCM Advisors, LLC 2.58% of their portfolio MARTINSBURG, WV 32,60032.6k $3.1m $3.1m 2.58% Added +100 +100
98 FORTE ASSET MANAGEMENT LLC 1.54% of their portfolio BEDFORD, NY 31,86431.9k $3.0m $3.0m 1.54% New
99 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 31,86331.9k $3.0m $3.0m 0.00% Reduced -12.0k -11,975
100 EWG Elevate Inc. 0.92% of their portfolio ROSEVILLE, CA 31,53031.5k $3.0m $3.0m 0.92% New