Vault-13

ISHARES TR IYR

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

479 institutional holders +10 vs Q3 2025
54,503,50654.5m shares reported held*
$5.1bnreported value*
40 new 152 added 157 reduced 38 sold out net bought ≈ $1.0bn (+10.8m 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 ($1.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $94.01. Options: 18 managers hold calls ($785.8m notional), 15 hold puts ($425.2m).

Trends to Q4 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: 480Q3 25: 469Q4 25: 479479Q3 22Q2 23Q1 24Q4 24Q4 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
Q3 2025469
Q4 2025479

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 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 25Q3 25: 179 bought or addedQ3 25: 203 cut or sold outQ4 25: 192 bought or addedQ4 25: 195 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024193242
Q2 2024185219
Q3 2024230183
Q4 2024224214
Q1 2025181242
Q2 2025194205
Q3 2025179203
Q4 2025192195

Calls vs puts

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

CallsPuts
$0$200m$400m$600m$800mQ1 25 calls: $541.2mQ1 25 puts: $425.0mQ1 25P/C 0.79Q2 25 calls: $701.8mQ2 25 puts: $547.6mQ2 25P/C 0.78Q3 25 calls: $780.7mQ3 25 puts: $445.1mQ3 25P/C 0.57Q4 25 calls: $785.8mQ4 25 puts: $425.2mQ4 25P/C 0.54
Numbers
QuarterCallsPutsP/C
Q1 2025$541.2m$425.0m0.79
Q2 2025$701.8m$547.6m0.78
Q3 2025$780.7m$445.1m0.57
Q4 2025$785.8m$425.2m0.54

Biggest buyers

HSBC HOLDINGS PLC New +8,491,452+8.5m
PRICE T ROWE ASSOCIATES INC /MD/ New +2,942,928+2.9m
TWO SIGMA INVESTMENTS, LP New +1,713,403+1.7m
CITIGROUP INC Added +597,023+597.0k
WealthNavi Inc. Added +540,270+540.3k
CITADEL ADVISORS LLC Added +476,478+476.5k
JANE STREET GROUP, LLC Added +324,887+324.9k
STIFEL FINANCIAL CORP Added +144,353+144.4k
WELLS FARGO & COMPANY/MN Added +111,386+111.4k
BARCLAYS PLC Added +98,864+98.9k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -1,471,070-1.5m
UBS Group AG Reduced -934,142-934.1k
MORGAN STANLEY Reduced -481,837-481.8k
PGIM Custom Harvest LLC Reduced -364,784-364.8k
BNP PARIBAS FINANCIAL MARKETS Reduced -329,987-330.0k
BANK OF AMERICA CORP /DE/ Reduced -278,974-279.0k
Holocene Advisors, LP Sold out -202,436-202.4k
Passaic Partners LLC Sold out -189,294-189.3k
J. Goldman & Co LP Reduced -181,449-181.4k
JPMORGAN CHASE & CO Reduced -141,803-141.8k

Biggest calls

JANE STREET GROUP, LLC Added $488.0m5.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $149.7m1.6m shares
UBS Group AG Added $49.6m528.5k shares
CITADEL ADVISORS LLC Reduced $32.3m343.5k shares
MILLENNIUM MANAGEMENT LLC New $11.0m117.2k shares
Parallax Volatility Advisers, L.P. Added $10.2m108.7k shares
GOLDMAN SACHS GROUP INC New $9.4m100.0k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $5.8m61.5k shares
TUDOR INVESTMENT CORP ET AL Added $4.9m52.0k shares
Jain Global LLC New $4.7m50.0k shares

Biggest puts

JANE STREET GROUP, LLC Added $113.6m1.2m shares
CITADEL ADVISORS LLC Added $102.1m1.1m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $80.5m857.5k shares
UBS Group AG Added $42.9m457.2k shares
Jain Global LLC New $23.5m250.0k shares
MILLENNIUM MANAGEMENT LLC New $18.0m192.2k shares
TUDOR INVESTMENT CORP ET AL Reduced $12.1m129.4k shares
Balyasny Asset Management L.P. New $8.9m94.5k shares
Squarepoint Ops LLC Reduced $5.1m54.2k shares
Parallax Volatility Advisers, L.P. Added $4.8m51.0k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 HSBC HOLDINGS PLC 0.23% of their portfolio LONDON, X0 8,491,4528.5m $799.4m $799.4m 0.23% New
2 BARCLAYS PLC 0.24% of their portfolio LONDON, X0 6,260,1256.3m $587.8m $587.8m 0.24% Added +98.9k +98,864
3 WealthNavi Inc. 4.84% of their portfolio Shinagawa-ku, TOKYO, M0 5,838,9375.8m $548.2m $548.2m 4.84% Added +540.3k +540,270
4 CIBC WORLD MARKETS CORP 1.62% of their portfolio NEW YORK, NY 3,437,5963.4m $322.8m $322.8m 1.62% First filing
5 PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio BALTIMORE, MD 2,942,9282.9m $276.3m $276.3m 0.03% New
6 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 2,687,4342.7m $252.3m $252.3m 0.02% Reduced -481.8k -481,837
7 BNP PARIBAS FINANCIAL MARKETS 0.13% of their portfolio PARIS, I0 2,126,3342.1m $199.6m $199.6m 0.13% Reduced -330.0k -329,987
8 CITIGROUP INC 0.13% of their portfolio NEW YORK, NY 1,958,1542.0m $183.9m $183.9m 0.13% Added +597.0k +597,023
9 TWO SIGMA INVESTMENTS, LP 0.24% of their portfolio NEW YORK, NY 1,713,4031.7m $160.9m $160.9m 0.24% New
10 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,695,0931.7m $159.2m $159.2m 0.03% Reduced -934.1k -934,142
11 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,200,8221.2m $112.7m $112.7m 0.02% Reduced -1.5m -1,471,070
12 Ilmarinen Mutual Pension Insurance Co 0.90% of their portfolio HELSINKI, H9 1,196,5771.2m $112.3m $112.3m 0.90% Reduced -106.4k -106,400
13 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,146,6511.1m $107.7m $107.7m 0.01% Reduced -279.0k -278,974
14 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 734,378734.4k $69.0m $69.0m 0.06% Added +144.4k +144,353
15 BlackRock, Inc. 0.00% of their portfolio New York, NY 638,455638.5k $59.9m $59.9m 0.00% Added +16.5k +16,542
16 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 624,548624.5k $58.6m $58.6m 0.01% Added +111.4k +111,386
17 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 617,927617.9k $58.0m $58.0m 0.01% Added +51.5k +51,486
18 CITADEL ADVISORS LLC 0.03% of their portfolio MIAMI, FL 491,507491.5k $46.1m $46.1m 0.03% Added +476.5k +476,478
19 JANE STREET GROUP, LLC 0.05% of their portfolio NEW YORK, NY 434,344434.3k $40.8m $40.8m 0.05% Added +324.9k +324,887
20 US BANCORP \DE\ 0.04% of their portfolio MINNEAPOLIS, MN 379,559379.6k $35.6m $35.6m 0.04% Reduced -15.8k -15,841
21 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 376,359376.4k $35.3m $35.3m 0.02% Reduced -16.7k -16,680
22 MERCER GLOBAL ADVISORS INC /ADV 0.05% of their portfolio DENVER, CO 373,524373.5k $35.1m $35.1m 0.05% Added +5.6k +5,557
23 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 340,889340.9k $32.0m $32.0m 0.01% Reduced -6.0k -6,040
24 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 325,997326.0k $30.6m $30.6m 0.02% Added +920 +920
25 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.05% of their portfolio TORONTO, A6 300,000300.0k $28.2m $28.2m 0.05% Unchanged
26 CONNABLE OFFICE INC 2.58% of their portfolio KALAMAZOO, MI 299,557299.6k $28.1m $28.1m 2.58% Added +5.1k +5,112
27 CIBC WORLD MARKET INC. 0.04% of their portfolio TORONTO, A6 246,434246.4k $23.1m $23.1m 0.04% Reduced -72.5k -72,543
28 FUKOKU MUTUAL LIFE INSURANCE Co 1.50% of their portfolio TOKYO, M0 243,000243.0k $22.8m $22.8m 1.50% Unchanged
29 Pathstone Holdings, LLC 0.09% of their portfolio ENGLEWOOD, NJ 236,720236.7k $22.2m $22.2m 0.09% Reduced -2.4k -2,388
30 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 204,103204.1k $19.2m $19.2m 0.01% Added +2.1k +2,075
31 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 201,187201.2k $18.9m $18.9m 0.00% Added +9.7k +9,651
32 Sand Hill Global Advisors, LLC 0.60% of their portfolio Palo Alto, CA 183,801183.8k $17.3m $17.3m 0.60% Added +26.1k +26,150
33 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 180,647180.6k $17.0m $17.0m 0.01% Added +69.6k +69,587
34 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 180,632180.6k $17.0m $17.0m 0.02% Added +64.8k +64,811
35 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 170,072170.1k $16.0m $16.0m 0.02% Added +20.6k +20,647
36 Magnus Financial Group LLC 1.19% of their portfolio NEW YORK, NY 165,951166.0k $15.6m $15.6m 1.19% Added +8.7k +8,671
37 Global Endowment Management, LP 1.86% of their portfolio CHARLOTTE, NC 158,940158.9k $14.9m $14.9m 1.86% Added +22.9k +22,860
38 Financial Advisory Corp 2.01% of their portfolio Grand Rapids, MI 147,355147.4k $13.8m $13.8m 2.01% Added +4.8k +4,789
39 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 143,909143.9k $13.5m $13.5m 0.00% Reduced -141.8k -141,803
40 SUMITOMO MITSUI FINANCIAL GROUP, INC. 0.21% of their portfolio TOKYO, M0 127,151127.2k $11.9m $11.9m 0.21% Added +818 +818
41 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 123,209123.2k $11.6m $11.6m 0.00% Reduced -7.0k -6,995
42 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 122,614122.6k $11.5m $11.5m 0.03% Added +8.6k +8,640
43 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 122,380122.4k $11.5m $11.5m 0.01% Added +59.4k +59,364
44 Mariner, LLC 0.01% of their portfolio Overland Park, KS 112,443112.4k $10.6m $10.6m 0.01% Reduced -76.3k -76,272
45 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 112,063112.1k $10.5m $10.5m 0.00% Added +11.0k +11,030
46 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 94,45694.5k $8.9m $8.9m 0.00% Added +88.9k +88,935
47 DDFG, Inc 1.90% of their portfolio THOUSAND OAKS, CA 92,52192.5k $8.7m $8.7m 1.90% Added +2.1k +2,080
48 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 88,78288.8k $8.3m $8.3m 0.02% Reduced -14.0k -14,034
49 UNIQUE WEALTH, LLC 1.13% of their portfolio TAMPA, FL 86,14086.1k $8.1m $8.1m 1.13% Added +7.7k +7,697
50 Maven Securities LTD 0.95% of their portfolio ST HELIER, Y9 79,87179.9k $7.5m $7.5m 0.95% Reduced -19.8k -19,750
51 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 76,17876.2k $7.2m $7.2m 0.00% Added +44.7k +44,699
52 PGIM Custom Harvest LLC 0.10% of their portfolio NEWARK, NJ 71,18471.2k $6.7m $6.7m 0.10% Reduced -364.8k -364,784
53 Matthew Goff Investment Advisor, LLC 1.15% of their portfolio HOUSTON, TX 68,86468.9k $6.5m $6.5m 1.15% Reduced -373 -373
54 Omega Financial Group, LLC 2.06% of their portfolio Santa Barbara, CA 66,07266.1k $6.2m $6.2m 2.06% Added +60.8k +60,807
55 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 63,80063.8k $6.0m $6.0m 0.01% Reduced -6.4k -6,400
56 SCS Capital Management LLC 0.06% of their portfolio BOSTON, MA 63,24463.2k $5.9m $5.9m 0.06% Reduced -70 -70
57 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 59,81659.8k $5.6m $5.6m 0.01% New
58 COURIER CAPITAL LLC 0.30% of their portfolio BUFFALO, NY 57,69657.7k $5.4m $5.4m 0.30% Added +1.6k +1,631
59 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 57,56457.6k $5.4m $5.4m 0.01% Added +1.1k +1,132
60 Washington Trust Bank 0.36% of their portfolio Spokane, WA 54,71454.7k $5.1m $5.1m 0.36% Added +38.2k +38,196
61 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 54,63954.6k $5.1m $5.1m 0.00% Reduced -3.5k -3,515
62 MISSION WEALTH MANAGEMENT, LP 0.10% of their portfolio Santa Barbara, CA 54,62254.6k $5.1m $5.1m 0.10% Reduced -5.8k -5,822
63 ARKANSAS FINANCIAL GROUP, INC. 0.72% of their portfolio LITTLE ROCK, AR 53,53153.5k $5.0m $5.0m 0.72% Reduced -31 -31
64 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 53,30353.3k $5.0m $5.0m 0.01% Reduced -8.4k -8,368
65 CarsonAllaria Wealth Management, Ltd. 2.47% of their portfolio GLEN CARBON, IL 53,06553.1k $5.0m $5.0m 2.47% Added +3.4k +3,426
66 CONSOLIDATED CAPITAL MANAGEMENT, LLC 1.47% of their portfolio BURBANK, CA 51,79751.8k $4.9m $4.9m 1.47% New
67 Allie Family Office LLC 2.21% of their portfolio MIAMI, FL 50,49950.5k $4.7m $4.7m 2.21% Added +131 +131
68 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 50,01450.0k $4.7m $4.7m 0.01% Reduced -5.7k -5,682
69 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 49,32549.3k $4.6m $4.6m 0.01% Reduced -35 -35
70 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 49,20849.2k $4.6m $4.6m 0.01% Reduced -227 -227
71 J. Goldman & Co LP 0.17% of their portfolio NEW YORK, NY 46,34246.3k $4.4m $4.4m 0.17% Reduced -181.4k -181,449
72 REBALANCE, LLC 0.25% of their portfolio PALO ALTO, CA 45,43845.4k $4.3m $4.3m 0.25% Reduced -1.8k -1,815
73 Modern Wealth Management, LLC 0.07% of their portfolio KANSAS CITY, MO 41,32141.3k $3.9m $3.9m 0.07% Added +1.2k +1,164
74 Jump Financial, LLC 0.05% of their portfolio Chicago, IL 41,00541.0k $3.8m $3.8m 0.05% Reduced -5.4k -5,367
75 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 40,35740.4k $3.8m $3.8m 0.01% Reduced -14.7k -14,669
76 Rodgers & Associates, LTD 0.38% of their portfolio Lancaster, PA 39,99540.0k $3.8m $3.8m 0.38% Added +363 +363
77 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 39,80539.8k $3.7m $3.7m 0.00% Reduced -5.9k -5,894
78 Running Point Capital Advisors, LLC 1.00% of their portfolio EL SEGUNDO, CA 39,22339.2k $3.7m $3.7m 1.00% Reduced -12.1k -12,068
79 Pictet North America Advisors SA 0.33% of their portfolio GENEVA 73, V8 37,43437.4k $3.5m $3.5m 0.33% Unchanged
80 Checchi Capital Advisers, LLC 0.24% of their portfolio BEVERLY HILLS, CA 36,93236.9k $3.5m $3.5m 0.24% Added +8.9k +8,906
81 SHEETS SMITH WEALTH MANAGEMENT 0.37% of their portfolio WINSTON-SALEM, NC 36,00036.0k $3.4m $3.4m 0.37% Unchanged
82 Whitegate Investment Counselors, Inc. 1.03% of their portfolio CONCORD, NH 35,03635.0k $3.3m $3.3m 1.03% Reduced -187 -187
83 STEPHENS INC /AR/ 0.04% of their portfolio LITTLE ROCK, AR 34,94234.9k $3.3m $3.3m 0.04% Added +2 +2
84 Allegheny Financial Group 0.48% of their portfolio Pittsburgh, PA 34,71334.7k $3.3m $3.3m 0.48% Reduced -435 -435
85 Fairway Wealth LLC 0.87% of their portfolio INDEPENDENCE, OH 34,51634.5k $3.2m $3.2m 0.87% Added +35 +35
86 FORTE ASSET MANAGEMENT LLC 1.46% of their portfolio BEDFORD, NY 34,14134.1k $3.2m $3.2m 1.46% Added +2.3k +2,252
87 Stamos Capital Partners, L.P. 0.50% of their portfolio Menlo Park, CA 32,81132.8k $3.1m $3.1m 0.50% Added +14.0k +13,981
88 Tower Research Capital LLC (TRC) 0.07% of their portfolio NEW YORK, NY 31,38431.4k $2.9m $2.9m 0.07% Added +19.6k +19,614
89 OPPENHEIMER ASSET MANAGEMENT INC. 0.04% of their portfolio NEW YORK, NY 30,69630.7k $2.9m $2.9m 0.04% New
90 TCM Advisors, LLC 2.42% of their portfolio MARTINSBURG, WV 30,59330.6k $2.9m $2.9m 2.42% Reduced -228 -228
91 AXXCESS WEALTH MANAGEMENT, LLC 0.05% of their portfolio CARLSBAD, CA 30,50930.5k $2.9m $2.9m 0.05% Added +7.3k +7,316
92 JFS WEALTH ADVISORS, LLC 0.15% of their portfolio HERMITAGE, PA 29,22929.2k $2.7m $2.7m 0.15% Reduced -181 -181
93 Waverly Advisors, LLC 0.02% of their portfolio BIRMINGHAM, AL 28,96029.0k $2.7m $2.7m 0.02% Reduced -6.0k -5,952
94 JMAC ENTERPRISES LLC 0.51% of their portfolio NEWTOWN, PA 28,36228.4k $2.7m $2.7m 0.51% Added +1.2k +1,161
95 SBI Securities Co., Ltd. 0.07% of their portfolio TOKYO, M0 28,04028.0k $2.6m $2.6m 0.07% Reduced -185 -185
96 Measured Wealth Private Client Group, LLC 0.69% of their portfolio PORTSMOUTH, NH 27,90127.9k $2.6m $2.6m 0.69% Reduced -24.4k -24,355
97 Rakuten Investment Management, Inc. 0.01% of their portfolio TOKYO, M0 27,53627.5k $2.7m $2.7m 0.01% Unchanged
98 SILVER OAK SECURITIES, INCORPORATED 0.17% of their portfolio JACKSON, TN 26,89926.9k $2.5m $2.5m 0.17% Reduced -1.2k -1,245
99 BETO FINANCIAL GROUP, LLC 1.72% of their portfolio BOISE, ID 26,69026.7k $2.5m $2.5m 1.72% First filing
100 Glenview Trust Co 0.04% of their portfolio Louisville, KY 26,44326.4k $2.5m $2.5m 0.04% Reduced -297 -297