Vault-13

ISHARES TR MUB

NATIONAL MUN ETF · ETP · CUSIP 464288414

1,381 institutional holders +152 vs Q3 2023
330,132,741330.1m shares reported held*
$35.9bnreported value*
150 new 487 added 498 reduced 101 sold out net bought ≈ $3.8bn (+34.7m 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 ($48.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $108.72. Options: 5 managers hold calls ($178.6m notional), 5 hold puts ($97.9m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,137Q4 22: 1,213Q1 23: 1,213Q2 23: 1,224Q3 23: 1,229Q4 23: 1,3811,381Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 20221,137
Q4 20221,213
Q1 20231,213
Q2 20231,224
Q3 20231,229
Q4 20231,381

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 22: 606 bought or addedQ4 22: 535 cut or sold outQ4 22Q1 23: 618 bought or addedQ1 23: 508 cut or sold outQ1 23Q2 23: 592 bought or addedQ2 23: 505 cut or sold outQ2 23Q3 23: 614 bought or addedQ3 23: 514 cut or sold outQ3 23Q4 23: 637 bought or addedQ4 23: 599 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022606535
Q1 2023618508
Q2 2023592505
Q3 2023614514
Q4 2023637599

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ1 23 calls: $1.9mQ1 23 puts: $2.4mQ1 23P/C 1.26Q2 23 calls: $1.3mQ2 23 puts: $3.2mQ2 23P/C 2.36Q3 23 calls: $21.8mQ3 23 puts: $3.1mQ3 23P/C 0.14Q4 23 calls: $178.6mQ4 23 puts: $97.9mQ4 23P/C 0.55
Numbers
QuarterCallsPutsP/C
Q1 2023$1.9m$2.4m1.26
Q2 2023$1.3m$3.2m2.36
Q3 2023$21.8m$3.1m0.14
Q4 2023$178.6m$97.9m0.55

Biggest buyers

JPMORGAN CHASE & CO Added +11,783,024+11.8m
MORGAN STANLEY Added +9,055,095+9.1m
JANE STREET GROUP, LLC Added +5,146,865+5.1m
Orgel Wealth Management, LLC Added +3,546,457+3.5m
RWA WEALTH PARTNERS, LLC Added +2,162,458+2.2m
CITADEL ADVISORS LLC Added +1,690,778+1.7m
BANK OF AMERICA CORP /DE/ Added +1,679,247+1.7m
GOLDMAN SACHS GROUP INC Added +1,402,548+1.4m
BlackRock Inc. Added +1,333,343+1.3m
D. E. Shaw & Co., Inc. New +1,297,800+1.3m

Biggest sellers

TIAA TRUST, NATIONAL ASSOCIATION Reduced -8,401,316-8.4m
FMR LLC Reduced -5,600,683-5.6m
ALLSTATE CORP Reduced -1,924,820-1.9m
Creative Planning Reduced -1,009,236-1.0m
Centiva Capital, LP Reduced -742,900-742.9k
SEI INVESTMENTS CO Reduced -674,559-674.6k
Charles Schwab Investment Advisory, Inc. Reduced -575,293-575.3k
Ackerman Capital Advisors, LLC Reduced -535,665-535.7k
Betterment LLC Reduced -498,158-498.2k
Alaska Wealth Advisors, LLC Reduced -425,596-425.6k

Biggest calls

LMR Partners LLP New $173.5m1.6m shares
WOLVERINE TRADING, LLC New $4.6m42.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $509.5k4.7k shares
CITADEL ADVISORS LLC Reduced $43.4k400 shares
Cutler Group LLC / CA New $4.0k3.1k shares

Biggest puts

CITADEL ADVISORS LLC Added $87.4m805.8k shares
WOLVERINE TRADING, LLC Added $7.3m67.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.8m25.5k shares
BOOTHBAY FUND MANAGEMENT, LLC New $487.8k4.5k shares
Cutler Group LLC / CA New $6.0k7.0k 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
FMR LLC 13G · institution new · filed 2025-11-05 6.0% new 22.2m≈ $2.4bn 2025-11-05

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.30% of their portfolio CHARLOTTE, NC 24,131,10824.1m $2.6bn $2.6bn 0.30% Added +1.7m +1,679,247
2 JPMORGAN CHASE & CO 0.12% of their portfolio NEW YORK, NY 21,633,11421.6m $2.3bn $2.3bn 0.12% Added +11.8m +11,783,024
3 FMR LLC 0.16% of their portfolio BOSTON, MA 18,878,54618.9m $2.0bn $2.0bn 0.16% Reduced -5.6m -5,600,683
4 ENVESTNET ASSET MANAGEMENT INC 0.73% of their portfolio Berwyn, PA 16,290,56416.3m $1.8bn $1.8bn 0.73% Added +1.1m +1,144,829
5 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 14,828,27214.8m $1.6bn $1.6bn 0.07% Added +9.1m +9,055,095
6 Bank of New York Mellon Corp 0.24% of their portfolio NEW YORK, NY 10,873,26910.9m $1.2bn $1.2bn 0.24% Added +518.3k +518,336
7 Creative Planning 2.15% of their portfolio OVERLAND PARK, KS 10,677,64510.7m $1.2bn $1.2bn 2.15% Reduced -1.0m -1,009,236
8 Betterment LLC 3.05% of their portfolio NEW YORK, NY 9,762,9689.8m $1.1bn $1.1bn 3.05% Reduced -498.2k -498,158
9 Wealthfront Advisers LLC 4.00% of their portfolio Palo Alto, CA 9,609,4429.6m $1.0bn $1.0bn 4.00% Added +988.3k +988,331
10 Charles Schwab Investment Advisory, Inc. 1.40% of their portfolio SAN FRANCISCO, CA 8,980,0319.0m $973.5m $973.5m 1.40% Reduced -575.3k -575,293
11 WELLS FARGO & COMPANY/MN 0.24% of their portfolio SAN FRANCISCO, CA 7,978,3978.0m $864.9m $864.9m 0.24% Added +517.5k +517,538
12 US BANCORP \DE\ 1.14% of their portfolio MINNEAPOLIS, MN 7,077,9707.1m $767.3m $767.3m 1.14% Reduced -66.9k -66,859
13 PNC Financial Services Group, Inc. 0.53% of their portfolio Pittsburgh, PA 6,231,3176.2m $675.5m $675.5m 0.53% Added +211.9k +211,946
14 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.76% of their portfolio MILWAUKEE, WI 6,225,7776.2m $674.9m $674.9m 0.76% Added +260.0k +259,973
15 Envestnet Portfolio Solutions, Inc. 2.66% of their portfolio BERWYN, PA 5,911,9625.9m $640.9m $640.9m 2.66% Added +277.1k +277,085
16 LPL Financial LLC 0.38% of their portfolio FORT MILL, SC 5,816,8035.8m $630.6m $630.6m 0.38% Added +656.9k +656,936
17 JANE STREET GROUP, LLC 0.68% of their portfolio NEW YORK, NY 5,150,2925.2m $558.3m $558.3m 0.68% Added +5.1m +5,146,865
18 MERCER GLOBAL ADVISORS INC /ADV 1.46% of their portfolio DENVER, CO 4,477,3044.5m $485.4m $485.4m 1.46% Added +405.7k +405,687
19 Fisher Asset Management, LLC 0.23% of their portfolio PLANO, TX 4,046,5294.0m $438.7m $438.7m 0.23% Added +173.6k +173,611
20 TIAA TRUST, NATIONAL ASSOCIATION 1.45% of their portfolio CHARLOTTE, NC 3,997,2984.0m $433.3m $433.3m 1.45% Reduced -8.4m -8,401,316
21 Orgel Wealth Management, LLC 12.27% of their portfolio ALTOONA, WI 3,827,4353.8m $414.9m $414.9m 12.27% Added +3.5m +3,546,457
22 FIRST CITIZENS BANK & TRUST CO 6.96% of their portfolio RALEIGH, NC 3,537,0753.5m $383.5m $383.5m 6.96% Reduced -77.3k -77,338
23 SEI INVESTMENTS CO 0.55% of their portfolio OAKS, PA 3,172,5823.2m $343.9m $343.9m 0.55% Reduced -674.6k -674,559
24 UBS Group AG 0.12% of their portfolio ZURICH, V8 2,815,5202.8m $305.2m $305.2m 0.12% Added +24.4k +24,361
25 RWA WEALTH PARTNERS, LLC 4.22% of their portfolio BOSTON, MA 2,729,2752.7m $295.9m $295.9m 4.22% Added +2.2m +2,162,458
26 GOLDMAN SACHS GROUP INC 0.06% of their portfolio NEW YORK, NY 2,722,3572.7m $295.1m $295.1m 0.06% Added +1.4m +1,402,548
27 BlackRock Inc. 0.01% of their portfolio New York, NY 2,536,3972.5m $275.0m $275.0m 0.01% Added +1.3m +1,333,343
28 COMMONWEALTH EQUITY SERVICES, LLC 0.48% of their portfolio WALTHAM, MA 2,428,0252.4m $263.2m $263.2m 0.48% Reduced -76.8k -76,800
29 ASSETMARK, INC 0.79% of their portfolio CONCORD, CA 2,029,0342.0m $220.0m $220.0m 0.79% Added +51.3k +51,300
30 CITADEL ADVISORS LLC 0.19% of their portfolio MIAMI, FL 1,698,3261.7m $184.1m $184.1m 0.19% Added +1.7m +1,690,778
31 Centiva Capital, LP 11.39% of their portfolio New York, NY 1,677,1001.7m $181.8m $181.8m 11.39% Reduced -742.9k -742,900
32 MML INVESTORS SERVICES, LLC 0.75% of their portfolio SPRINGFIELD, MA 1,500,0051.5m $162.6m $162.6m 0.75% Reduced -3.0k -3,001
33 OSAIC HOLDINGS, INC. 0.28% of their portfolio SCOTTSDALE, AZ 1,460,2211.5m $158.3m $158.3m 0.28% Reduced -334.0k -333,974
34 Mariner, LLC 0.35% of their portfolio Overland Park, KS 1,379,1481.4m $149.5m $149.5m 0.35% Reduced -29.1k -29,126
35 HighTower Advisors, LLC 0.25% of their portfolio CHICAGO, IL 1,358,2051.4m $147.2m $147.2m 0.25% Added +215.3k +215,313
36 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 1,358,0261.4m $147.0m $147.0m 0.04% Added +206.2k +206,163
37 SIGNATUREFD, LLC 3.36% of their portfolio ATLANTA, GA 1,342,9311.3m $145.6m $145.6m 3.36% Added +180.0k +179,961
38 D. E. Shaw & Co., Inc. 0.20% of their portfolio New York, NY 1,297,8001.3m $140.7m $140.7m 0.20% New
39 ALLSTATE CORP 9.25% of their portfolio NORTHBROOK, IL 1,235,4861.2m $133.9m $133.9m 9.25% Reduced -1.9m -1,924,820
40 Choate Investment Advisors 4.12% of their portfolio BOSTON, MA 1,228,3241.2m $133.2m $133.2m 4.12% Added +39.7k +39,673
41 Allspring Global Investments Holdings, LLC 0.22% of their portfolio CHARLOTTE, NC 1,206,7181.2m $130.8m $130.8m 0.22% Added +1.2m +1,156,008
42 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,158,7231.2m $125.6m $125.6m 0.03% Added +152.5k +152,488
43 TRUIST FINANCIAL CORP 0.19% of their portfolio CHARLOTTE, NC 1,106,2331.1m $119.9m $119.9m 0.19% Added +215.8k +215,750
44 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 2.94% of their portfolio MINNEAPOLIS, MN 1,091,6341.1m $118.3m $118.3m 2.94% Added +60.4k +60,355
45 EP Wealth Advisors, LLC 1.45% of their portfolio TORRANCE, CA 1,045,9391.0m $113.4m $113.4m 1.45% Added +767.0k +767,009
46 Sequoia Financial Advisors, LLC 1.40% of their portfolio Akron, OH 1,040,2541.0m $112.8m $112.8m 1.40% Reduced -27.4k -27,400
47 OXFORD FINANCIAL GROUP, LTD. LLC 7.82% of their portfolio INDIANAPOLIS, IN 974,409974.4k $105.6m $105.6m 7.82% Reduced -9.2k -9,172
48 CITIGROUP INC 0.14% of their portfolio NEW YORK, NY 969,387969.4k $105.1m $105.1m 0.14% Added +104.7k +104,711
49 JONES FINANCIAL COMPANIES LLLP 0.16% of their portfolio DES PERES, MO 967,734967.7k $104.9m $104.9m 0.16% Added +53.0k +53,010
50 PARK AVENUE SECURITIES LLC 1.40% of their portfolio NEW YORK, NY 933,275933.3k $101.2m $101.2m 1.40% Added +53.0k +52,958
51 BARCLAYS PLC 0.05% of their portfolio LONDON, X0 928,608928.6k $100.7m $100.7m 0.05% New
52 Foster Group, Inc. 5.68% of their portfolio WEST DES MOINES, IA 905,251905.3k $92.8m $92.8m 5.68% Unchanged
53 AVANTAX ADVISORY SERVICES, INC. 0.92% of their portfolio DALLAS, TX 854,539854.5k $92.6m $92.6m 0.92% Added +136.3k +136,309
54 Ellevest, Inc. 6.20% of their portfolio NEW YORK, NY 838,769838.8k $90.9m $90.9m 6.20% Added +4.6k +4,575
55 Corient Private Wealth LP 0.16% of their portfolio MIAMI, FL 822,848822.8k $89.2m $89.2m 0.16% Added +67.5k +67,515
56 One Capital Management, LLC 3.46% of their portfolio WESTLAKE VILLAGE, CA 804,562804.6k $87.2m $87.2m 3.46% Added +3.0k +3,023
57 BESSEMER GROUP INC 0.17% of their portfolio WOODBRIDGE, NJ 790,207790.2k $85.7m $85.7m 0.17% Added +497.8k +497,824
58 Price Capital Management, Inc. 35.33% of their portfolio LAFAYETTE, LA 736,060736.1k $79.8m $79.8m 35.33% New
59 Raymond James Financial Services Advisors, Inc. 0.13% of their portfolio ST. PETERSBURG, FL 717,654717.7k $77.8m $77.8m 0.13% Reduced -4.2k -4,221
60 Cerity Partners LLC 0.26% of their portfolio NEW YORK, NY 710,775710.8k $77.1m $77.1m 0.26% Added +106.1k +106,110
61 CAPTRUST FINANCIAL ADVISORS 0.26% of their portfolio RALEIGH, NC 690,477690.5k $74.9m $74.9m 0.26% Added +108.3k +108,310
62 Cetera Advisor Networks LLC 0.41% of their portfolio EL SEGUNDO, CA 680,977681.0k $73.8m $73.8m 0.41% Reduced -18.8k -18,790
63 RENAISSANCE TECHNOLOGIES LLC 0.11% of their portfolio NEW YORK, NY 678,800678.8k $73.6m $73.6m 0.11% Added +670.6k +670,600
64 Cetera Investment Advisers 0.58% of their portfolio SCHAUMBURG, IL 662,349662.3k $71.8m $71.8m 0.58% Added +41.8k +41,781
65 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 647,853647.9k $70.3m $70.3m 0.02% Added +105.1k +105,137
66 NATIXIS ADVISORS, LLC 0.18% of their portfolio Boston, MA 636,204636.2k $69.0m $69.0m 0.18% Added +410.4k +410,424
67 Arkos Global Advisors 12.54% of their portfolio HOUSTON, TX 635,272635.3k $68.9m $68.9m 12.54% Reduced -73.3k -73,284
68 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.57% of their portfolio IRVING, TX 633,621633.6k $68.7m $68.7m 0.57% Reduced -401.6k -401,581
69 Crestwood Advisors Group, LLC 1.58% of their portfolio BOSTON, MA 623,950624.0k $67.6m $67.6m 1.58% Reduced -117.5k -117,493
70 AE Wealth Management LLC 0.34% of their portfolio TOPEKA, KS 611,798611.8k $65.9m $65.9m 0.34% Added +41.2k +41,246
71 PRUDENTIAL FINANCIAL INC 0.10% of their portfolio NEWARK, NJ 594,695594.7k $64.5m $64.5m 0.10% Added +250.6k +250,644
72 Wealthspire Advisors, LLC 0.91% of their portfolio NEW YORK, NY 593,071593.1k $64.3m $64.3m 0.91% Added +114.6k +114,632
73 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.18% of their portfolio PLYMOUTH, MN 578,380578.4k $62.7m $62.7m 0.18% Added +244.7k +244,657
74 COLDSTREAM CAPITAL MANAGEMENT INC 1.75% of their portfolio BELLEVUE, WA 576,611576.6k $62.5m $62.5m 1.75% Added +101.5k +101,495
75 Prime Capital Investment Advisors, LLC 0.93% of their portfolio OVERLAND PARK, KS 571,192571.2k $61.9m $61.9m 0.93% Added +288.5k +288,522
76 STATE OF WISCONSIN INVESTMENT BOARD 0.17% of their portfolio MADISON, WI 557,900557.9k $60.5m $60.5m 0.17% Reduced -375.0k -375,000
77 OneDigital Investment Advisors LLC 1.05% of their portfolio OVERLAND PARK, KS 556,005556.0k $60.3m $60.3m 1.05% Added +138.4k +138,389
78 Beacon Pointe Advisors, LLC 0.72% of their portfolio NEWPORT BEACH, CA 555,744555.7k $60.2m $60.2m 0.72% Reduced -147.3k -147,292
79 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 548,642548.6k $59.5m $59.5m 0.07% Added +11.5k +11,473
80 Orion Porfolio Solutions, LLC 0.69% of their portfolio OMAHA, NE 544,298544.3k $59.0m $59.0m 0.69% Added +18.4k +18,409
81 Orion Portfolio Solutions, LLC 0.69% of their portfolio Omaha, NE 544,298544.3k $59.0m $59.0m 0.69% Added +18.4k +18,409
82 Forvis Mazars Wealth Advisors, LLC 1.62% of their portfolio Springfield, MO 537,035537.0k $58.2m $58.2m 1.62% Added +33.0k +33,009
83 M&T Bank Corp 0.21% of their portfolio BUFFALO, NY 531,779531.8k $57.7m $57.7m 0.21% Added +345.1k +345,117
84 Zions Bancorporation, N.A. 3.95% of their portfolio SALT LAKE CITY, UT 529,415529.4k $57.4m $57.4m 3.95% Added +522.4k +522,432
85 Pathstone Holdings, LLC 0.30% of their portfolio ENGLEWOOD, NJ 504,498504.5k $54.7m $54.7m 0.30% First filing
86 Financial Engines Advisors L.L.C. 0.13% of their portfolio SANTA CLARA, CA 502,829502.8k $54.5m $54.5m 0.13% Added +27.2k +27,218
87 Meeder Advisory Services, Inc. 6.12% of their portfolio DUBLIN, OH 492,778492.8k $53.4m $53.4m 6.12% Added +23.4k +23,415
88 Plante Moran Financial Advisors, LLC 5.50% of their portfolio SOUTHFIELD, MI 484,957485.0k $52.6m $52.6m 5.50% Reduced -1.4k -1,422
89 RAYMOND JAMES & ASSOCIATES 0.04% of their portfolio ST PETERSBURG, FL 458,437458.4k $49.7m $49.7m 0.04% Added +195.1k +195,064
90 Manning & Napier Group, LLC 0.56% of their portfolio Fairport, NY 438,822438.8k $47.6m $47.6m 0.56% Reduced -4.0k -4,007
91 JFS WEALTH ADVISORS, LLC 3.95% of their portfolio HERMITAGE, PA 429,090429.1k $46.5m $46.5m 3.95% Added +12.4k +12,435
92 Symmetry Partners, LLC 2.43% of their portfolio GLASTONBURY, CT 415,693415.7k $45.1m $45.1m 2.43% Added +22.7k +22,661
93 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 402,161402.2k $43.6m $43.6m 0.02% Added +6.7k +6,688
94 OLD MISSION CAPITAL LLC 1.20% of their portfolio CHICAGO, IL 396,051396.1k $42.9m $42.9m 1.20% Added +106.2k +106,155
95 Trust Co 5.47% of their portfolio MANHATTAN, KS 392,366392.4k $42.5m $42.5m 5.47% Added +196.8k +196,840
96 Baird Financial Group, Inc. 0.10% of their portfolio MILWAUKEE, WI 392,086392.1k $42.5m $42.5m 0.10% Added +234.4k +234,388
97 Forum Financial Management, LP 0.80% of their portfolio LOMBARD, IL 390,549390.5k $42.3m $42.3m 0.80% Added +146.6k +146,648
98 Focus Partners Wealth 0.54% of their portfolio ST LOUIS, MO 377,070377.1k $40.9m $40.9m 0.54% First filing
99 SOFI WEALTH, LLC 4.38% of their portfolio SAN FRANCISCO, CA 376,704376.7k $40.8m $40.8m 4.38% Added +7.7k +7,652
100 Rockefeller Capital Management L.P. 0.13% of their portfolio NEW YORK, NY 369,847369.8k $40.1m $40.1m 0.13% Reduced -116.6k -116,582