Vault-13

ISHARES TR

PUT · CUSIP 464287955

3 institutional holders +2 vs Q4 2025
2,720,4842.7m shares reported held*
$318.3mreported value*
3 new 0 added 0 reduced 1 sold out net bought ≈ $226.1m (+2.7m 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. Holder counts are more reliable. Implied quarter-end price ≈ $117.00. Options: 0 managers hold calls (— notional), 24 hold puts ($20.4bn).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

024Q3 22: 2Q4 22: 1Q1 23: 2Q2 23: 3Q3 23: 2Q4 23: 4Q1 24: 0Q2 24: 2Q3 24: 2Q4 24: 2Q1 25: 3Q2 25: 2Q3 25: 2Q4 25: 1Q1 26: 33Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 20222
Q4 20221
Q1 20232
Q2 20233
Q3 20232
Q4 20234
Q1 20240
Q2 20242
Q3 20242
Q4 20242
Q1 20253
Q2 20252
Q3 20252
Q4 20251
Q1 20263

Buyers vs sellers

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

Bought or addedCut or sold out
404Q2 24: 2 bought or addedQ2 24: 0 cut or sold outQ3 24: 1 bought or addedQ3 24: 1 cut or sold outQ3 24Q4 24: 0 bought or addedQ4 24: 2 cut or sold outQ1 25: 2 bought or addedQ1 25: 1 cut or sold outQ1 25Q2 25: 1 bought or addedQ2 25: 3 cut or sold outQ3 25: 1 bought or addedQ3 25: 1 cut or sold outQ3 25Q4 25: 1 bought or addedQ4 25: 1 cut or sold outQ1 26: 3 bought or addedQ1 26: 1 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 202420
Q3 202411
Q4 202402
Q1 202521
Q2 202513
Q3 202511
Q4 202511
Q1 202631

Calls vs puts

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

CallsPuts
$0$10bn$20bn$30bnQ2 25 calls: $0Q2 25 puts: $18.0bnQ2 25P/C —Q3 25 calls: $0Q3 25 puts: $27.2bnQ3 25P/C —Q4 25 calls: $0Q4 25 puts: $20.5bnQ4 25P/C —Q1 26 calls: $0Q1 26 puts: $20.4bnQ1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$0$18.0bn—
Q3 2025$0$27.2bn—
Q4 2025$0$20.5bn—
Q1 2026$0$20.4bn—

Biggest buyers

HRT FINANCIAL LP New +2,716,100+2.7m
Cruiser Capital Advisors, LLC New +4,000+4.0k
Verde Servicos Internacionais S.A. New +384+384

Biggest sellers

Coordinated Financial Services, Inc. Sold out -67-67

Biggest calls

None

Biggest puts

Optiver Holding B.V. Added $11.6bn48.4m shares
JPMORGAN CHASE & CO Added $4.0bn18.9m shares
IMC-Chicago, LLC Reduced $2.9bn12.9m shares
AKUNA SECURITIES LLC Added $1.3bn5.2m shares
HIGHBRIDGE CAPITAL MANAGEMENT LLC Reduced $186.9m780.0k shares
Cartenna Capital, LP New $124.0m500.0k shares
GROUP ONE TRADING LLC Added $103.7m1.2m shares
RIPOSTE CAPITAL LLC Reduced $41.7m150.0k shares
GARDA CAPITAL PARTNERS LP New $36.0m145.0k shares
Maven Securities LTD Reduced $31.9m128.5k 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 HRT FINANCIAL LP 0.81% of their portfolio NEW YORK, NY 2,716,1002.7m $225.8m $225.8m 0.81% New
2 Cruiser Capital Advisors, LLC 49.10% of their portfolio Stamford, CT 4,0004.0k $92.5m $92.5m 49.10% New
3 Verde Servicos Internacionais S.A. 0.00% of their portfolio SAO PAULO, D5 384384 $4.0k $4.0k 0.00% New