Vault-13

ISHARES TR MUB

NATIONAL MUN ETF · ETP · CUSIP 464288414

1,508 institutional holders -26 vs Q4 2024
334,588,274334.6m shares reported held*
$35.3bnreported value*
101 new 591 added 610 reduced 117 sold out net sold ≈ $370.1m (-4.0m 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 ($123.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $105.63. Options: 5 managers hold calls ($99.1m notional), 7 hold puts ($467.3m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,137Q4 22: 1,213Q1 23: 1,213Q2 23: 1,224Q3 23: 1,229Q4 23: 1,381Q1 24: 1,377Q2 24: 1,354Q3 24: 1,404Q4 24: 1,534Q1 25: 1,5081,508Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 20221,137
Q4 20221,213
Q1 20231,213
Q2 20231,224
Q3 20231,229
Q4 20231,381
Q1 20241,377
Q2 20241,354
Q3 20241,404
Q4 20241,534
Q1 20251,508

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 23: 592 bought or addedQ2 23: 505 cut or sold outQ3 23: 614 bought or addedQ3 23: 514 cut or sold outQ3 23Q4 23: 637 bought or addedQ4 23: 599 cut or sold outQ1 24: 704 bought or addedQ1 24: 556 cut or sold outQ1 24Q2 24: 726 bought or addedQ2 24: 550 cut or sold outQ3 24: 748 bought or addedQ3 24: 495 cut or sold outQ3 24Q4 24: 758 bought or addedQ4 24: 542 cut or sold outQ1 25: 692 bought or addedQ1 25: 727 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023592505
Q3 2023614514
Q4 2023637599
Q1 2024704556
Q2 2024726550
Q3 2024748495
Q4 2024758542
Q1 2025692727

Calls vs puts

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

CallsPuts
$0$200m$400m$600mQ2 24 calls: $6.1mQ2 24 puts: $186.6mQ2 24P/C 30.51Q3 24 calls: $55.0mQ3 24 puts: $46.3mQ3 24P/C 0.84Q4 24 calls: $74.3mQ4 24 puts: $144.4mQ4 24P/C 1.94Q1 25 calls: $99.1mQ1 25 puts: $467.3mQ1 25P/C 4.71
Numbers
QuarterCallsPutsP/C
Q2 2024$6.1m$186.6m30.51
Q3 2024$55.0m$46.3m0.84
Q4 2024$74.3m$144.4m1.94
Q1 2025$99.1m$467.3m4.71

Biggest buyers

D. E. Shaw & Co., Inc. Added +1,839,800+1.8m
ALLSTATE CORP Added +1,439,584+1.4m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +976,434+976.4k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +802,170+802.2k
RAYMOND JAMES FINANCIAL INC Added +633,905+633.9k
Orion Portfolio Solutions, LLC Added +566,331+566.3k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +550,570+550.6k
Fisher Asset Management, LLC Added +490,142+490.1k
ROYAL BANK OF CANADA Added +477,763+477.8k
Wealthspire Advisors, LLC Added +449,545+449.5k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -2,038,521-2.0m
JANE STREET GROUP, LLC Reduced -1,893,914-1.9m
PARK AVENUE SECURITIES LLC Sold out -1,033,611-1.0m
OSAIC HOLDINGS, INC. Reduced -911,450-911.5k
ENVESTNET ASSET MANAGEMENT INC Reduced -892,216-892.2k
Wealthfront Advisers LLC Reduced -864,177-864.2k
Meeder Advisory Services, Inc. Reduced -763,512-763.5k
FMR LLC Reduced -754,334-754.3k
Facet Wealth, Inc. Reduced -674,153-674.2k
Focus Partners Wealth Reduced -654,844-654.8k

Biggest calls

Centiva Capital, LP New $42.2m400.0k shares
CITADEL ADVISORS LLC Added $32.6m309.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $13.9m132.3k shares
WOLVERINE TRADING, LLC New $5.3m50.8k shares
JANE STREET GROUP, LLC New $5.0m47.3k shares

Biggest puts

Centiva Capital, LP New $421.8m4.0m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $16.7m158.8k shares
WOLVERINE TRADING, LLC New $8.2m78.0k shares
SIG BROKERAGE, LP New $7.8m74.2k shares
JANE STREET GROUP, LLC Added $6.9m65.3k shares
CITADEL ADVISORS LLC Reduced $5.8m55.3k shares
Quaker Wealth Management, LLC First filing $11.6k110 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, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.27% of their portfolio CHARLOTTE, NC 28,842,66828.8m $3.0bn $3.0bn 0.27% Reduced -2.0m -2,038,521
2 ENVESTNET ASSET MANAGEMENT INC 0.66% of their portfolio Berwyn, PA 19,466,36919.5m $2.1bn $2.1bn 0.66% Reduced -892.2k -892,216
3 Betterment LLC 4.60% of their portfolio NEW YORK, NY 18,408,70218.4m $1.9bn $1.9bn 4.60% Added +150.4k +150,443
4 Creative Planning 1.30% of their portfolio OVERLAND PARK, KS 13,121,14713.1m $1.4bn $1.4bn 1.30% Reduced -103.6k -103,617
5 FMR LLC 0.09% of their portfolio BOSTON, MA 12,928,03812.9m $1.4bn $1.4bn 0.09% Reduced -754.3k -754,334
6 WELLS FARGO & COMPANY/MN 0.26% of their portfolio SAN FRANCISCO, CA 10,067,93410.1m $1.1bn $1.1bn 0.26% Reduced -538.2k -538,212
7 LPL Financial LLC 0.41% of their portfolio FORT MILL, SC 9,936,1309.9m $1.0bn $1.0bn 0.41% Added +299.5k +299,520
8 JPMORGAN CHASE & CO 0.08% of their portfolio NEW YORK, NY 9,522,6579.5m $1.0bn $1.0bn 0.08% Reduced -583.3k -583,305
9 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.18% of their portfolio SAN FRANCISCO, CA 9,199,9889.2m $970.0m $970.0m 0.18% Added +802.2k +802,170
10 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 8,855,1248.9m $933.7m $933.7m 0.07% Reduced -206.2k -206,244
11 Bank of New York Mellon Corp 0.18% of their portfolio NEW YORK, NY 8,384,7798.4m $884.1m $884.1m 0.18% Reduced -635.2k -635,250
12 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.65% of their portfolio MILWAUKEE, WI 7,588,0897.6m $800.1m $800.1m 0.65% Added +550.6k +550,570
13 PNC Financial Services Group, Inc. 0.40% of their portfolio Pittsburgh, PA 7,158,3567.2m $754.8m $754.8m 0.40% Reduced -180.0k -180,038
14 MERCER GLOBAL ADVISORS INC /ADV 1.65% of their portfolio DENVER, CO 6,801,2676.8m $717.1m $717.1m 1.65% Added +365.8k +365,786
15 Wealthfront Advisers LLC 1.90% of their portfolio Palo Alto, CA 6,712,4026.7m $707.8m $707.8m 1.90% Reduced -864.2k -864,177
16 Fisher Asset Management, LLC 0.28% of their portfolio PLANO, TX 6,235,7966.2m $657.5m $657.5m 0.28% Added +490.1k +490,142
17 SEI INVESTMENTS CO 0.75% of their portfolio OAKS, PA 5,534,1215.5m $583.5m $583.5m 0.75% Added +11.0k +10,993
18 US BANCORP \DE\ 0.77% of their portfolio MINNEAPOLIS, MN 5,464,2505.5m $576.2m $576.2m 0.77% Reduced -109.2k -109,188
19 TIAA TRUST, NATIONAL ASSOCIATION 1.67% of their portfolio CHARLOTTE, NC 5,074,2735.1m $535.0m $535.0m 1.67% Added +191.6k +191,598
20 Envestnet Portfolio Solutions, Inc. 1.74% of their portfolio BERWYN, PA 4,321,5044.3m $455.7m $455.7m 1.74% Reduced -510.8k -510,840
21 Orgel Wealth Management, LLC 9.29% of their portfolio ALTOONA, WI 3,390,8553.4m $357.5m $357.5m 9.29% Added +24.2k +24,226
22 D. E. Shaw & Co., Inc. 0.40% of their portfolio New York, NY 3,196,6003.2m $337.0m $337.0m 0.40% Added +1.8m +1,839,800
23 COMMONWEALTH EQUITY SERVICES, LLC 0.46% of their portfolio WALTHAM, MA 3,110,9443.1m $328.0m $328.0m 0.46% Added +179.3k +179,318
24 ALLSTATE CORP 9.35% of their portfolio NORTHBROOK, IL 3,017,9643.0m $318.2m $318.2m 9.35% Added +1.4m +1,439,584
25 ASSETMARK, INC 0.80% of their portfolio CONCORD, CA 2,756,4512.8m $290.6m $290.6m 0.80% Added +161.3k +161,292
26 FIRST CITIZENS BANK & TRUST CO 7.29% of their portfolio RALEIGH, NC 2,724,0332.7m $287.2m $287.2m 7.29% Added +84.7k +84,655
27 RWA WEALTH PARTNERS, LLC 3.57% of their portfolio BOSTON, MA 2,683,2462.7m $282.9m $282.9m 3.57% Reduced -97.3k -97,350
28 UBS Group AG 0.06% of their portfolio ZURICH, V8 2,570,2052.6m $271.0m $271.0m 0.06% Reduced -57.9k -57,857
29 ROYAL BANK OF CANADA 0.05% of their portfolio TORONTO, A6 2,294,9042.3m $242.0m $242.0m 0.05% Added +477.8k +477,763
30 Mariner, LLC 0.35% of their portfolio Overland Park, KS 1,987,5732.0m $209.5m $209.5m 0.35% Added +55.5k +55,484
31 MML INVESTORS SERVICES, LLC 0.64% of their portfolio SPRINGFIELD, MA 1,819,9381.8m $191.9m $191.9m 0.64% Added +102.8k +102,801
32 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 1,743,6381.7m $183.8m $183.8m 0.07% Added +633.9k +633,905
33 Cetera Investment Advisers 0.33% of their portfolio SCHAUMBURG, IL 1,608,0911.6m $169.6m $169.6m 0.33% Reduced -15.0k -14,952
34 HighTower Advisors, LLC 0.23% of their portfolio CHICAGO, IL 1,591,6081.6m $167.8m $167.8m 0.23% Reduced -1.8k -1,815
35 Sequoia Financial Advisors, LLC 1.28% of their portfolio Akron, OH 1,577,1621.6m $166.3m $166.3m 1.28% Added +264.3k +264,260
36 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 1,539,5651.5m $162.3m $162.3m 0.04% Added +76.0k +76,031
37 JONES FINANCIAL COMPANIES LLLP 0.14% of their portfolio DES PERES, MO 1,510,9501.5m $159.0m $159.0m 0.14% Reduced -5.8k -5,780
38 Choate Investment Advisors 3.39% of their portfolio BOSTON, MA 1,294,3031.3m $136.5m $136.5m 3.39% Added +22.1k +22,128
39 Orion Portfolio Solutions, LLC 0.68% of their portfolio Omaha, NE 1,292,5611.3m $137.1m $137.1m 0.68% Added +566.3k +566,331
40 One Capital Management, LLC 4.54% of their portfolio WESTLAKE VILLAGE, CA 1,274,5021.3m $134.4m $134.4m 4.54% Added +78.0k +77,977
41 SIGNATUREFD, LLC 2.43% of their portfolio ATLANTA, GA 1,218,2991.2m $128.5m $128.5m 2.43% Reduced -128.1k -128,105
42 CAPTRUST FINANCIAL ADVISORS 0.32% of their portfolio RALEIGH, NC 1,216,3141.2m $128.2m $128.2m 0.32% Added +80.1k +80,133
43 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,199,4021.2m $126.5m $126.5m 0.02% Added +82.3k +82,277
44 CITIGROUP INC 0.09% of their portfolio NEW YORK, NY 1,158,0131.2m $122.1m $122.1m 0.09% Added +56.3k +56,337
45 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.20% of their portfolio BALA CYNWYD, PA 1,130,2721.1m $119.2m $119.2m 0.20% Added +976.4k +976,434
46 AVANTAX ADVISORY SERVICES, INC. 0.69% of their portfolio DALLAS, TX 1,079,5131.1m $113.8m $113.8m 0.69% Reduced -81.0k -81,048
47 Wealthspire Advisors, LLC 0.65% of their portfolio NEW YORK, NY 1,034,2801.0m $109.1m $109.1m 0.65% Added +449.5k +449,545
48 OXFORD FINANCIAL GROUP, LTD. LLC 7.09% of their portfolio INDIANAPOLIS, IN 958,617958.6k $101.1m $101.1m 7.09% Added +3.0k +2,961
49 EP Wealth Advisors, LLC 0.80% of their portfolio TORRANCE, CA 949,055949.1k $100.1m $100.1m 0.80% Reduced -101.5k -101,456
50 TRUIST FINANCIAL CORP 0.15% of their portfolio CHARLOTTE, NC 915,114915.1k $96.5m $96.5m 0.15% Reduced -262.5k -262,537
51 Facet Wealth, Inc. 2.36% of their portfolio WEST PALM BEACH, FL 875,802875.8k $91.1m $91.1m 2.36% Reduced -674.2k -674,153
52 Balentine LLC 3.80% of their portfolio ATLANTA, GA 861,326861.3k $90.8m $90.8m 3.80% Reduced -18.2k -18,249
53 Ellevest, Inc. 5.88% of their portfolio NEW YORK, NY 836,930836.9k $88.2m $88.2m 5.88% Reduced -99.6k -99,610
54 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 1.58% of their portfolio MINNEAPOLIS, MN 802,166802.2k $84.6m $84.6m 1.58% Reduced -322.5k -322,533
55 Focus Partners Wealth 0.21% of their portfolio ST LOUIS, MO 796,946796.9k $84.0m $84.0m 0.21% Reduced -654.8k -654,844
56 Cerity Partners LLC 0.16% of their portfolio NEW YORK, NY 747,721747.7k $78.8m $78.8m 0.16% Reduced -7.8k -7,827
57 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.15% of their portfolio PLYMOUTH, MN 737,512737.5k $77.8m $77.8m 0.15% Reduced -428.9k -428,875
58 Arkos Global Advisors 11.20% of their portfolio HOUSTON, TX 722,791722.8k $76.2m $76.2m 11.20% Reduced -5.2k -5,191
59 Kestra Investment Management, LLC 1.26% of their portfolio AUSTIN, TX 712,754712.8k $72.8m $72.8m 1.26% Added +219.6k +219,642
60 Crestwood Advisors Group, LLC 1.39% of their portfolio BOSTON, MA 695,440695.4k $73.3m $73.3m 1.39% Added +61.1k +61,106
61 Corient Private Wealth LP 0.12% of their portfolio MIAMI, FL 671,019671.0k $70.8m $70.8m 0.12% Reduced -16.5k -16,453
62 OneDigital Investment Advisors LLC 0.84% of their portfolio OVERLAND PARK, KS 670,962671.0k $70.7m $70.7m 0.84% Reduced -126.6k -126,628
63 Beacon Pointe Advisors, LLC 0.77% of their portfolio NEWPORT BEACH, CA 650,574650.6k $68.6m $68.6m 0.77% Added +105.2k +105,238
64 Forvis Mazars Wealth Advisors, LLC 1.62% of their portfolio Springfield, MO 641,020641.0k $67.6m $67.6m 1.62% Added +3.1k +3,115
65 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 637,958638.0k $67.3m $67.3m 0.07% Reduced -22.5k -22,516
66 Prime Capital Investment Advisors, LLC 0.78% of their portfolio OVERLAND PARK, KS 637,399637.4k $67.2m $67.2m 0.78% Added +39.9k +39,876
67 SOFI WEALTH, LLC 4.92% of their portfolio SAN FRANCISCO, CA 621,185621.2k $65.5m $65.5m 4.92% Added +71.7k +71,675
68 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.56% of their portfolio IRVING, TX 620,381620.4k $65.4m $65.4m 0.56% Added +22.9k +22,904
69 STATE OF WISCONSIN INVESTMENT BOARD 0.17% of their portfolio MADISON, WI 607,800607.8k $64.1m $64.1m 0.17% Unchanged
70 OSAIC HOLDINGS, INC. 0.14% of their portfolio SCOTTSDALE, AZ 607,385607.4k $64.1m $64.1m 0.14% Reduced -911.5k -911,450
71 COLDSTREAM CAPITAL MANAGEMENT INC 1.32% of their portfolio BELLEVUE, WA 586,863586.9k $61.9m $61.9m 1.32% Added +101.6k +101,576
72 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 578,577578.6k $61.0m $61.0m 0.02% Added +448.5k +448,495
73 Financial Engines Advisors L.L.C. 0.13% of their portfolio SANTA CLARA, CA 574,406574.4k $60.6m $60.6m 0.13% Reduced -8.4k -8,421
74 Foster Group, Inc. 2.26% of their portfolio WEST DES MOINES, IA 573,186573.2k $60.4m $60.4m 2.26% Added +40.5k +40,512
75 Orion Porfolio Solutions, LLC 0.59% of their portfolio OMAHA, NE 566,331566.3k $59.7m $59.7m 0.59% Reduced -159.9k -159,899
76 Wealthcare Advisory Partners LLC 1.57% of their portfolio WEST CHESTER, PA 553,978554.0k $58.4m $58.4m 1.57% Reduced -11.4k -11,402
77 BESSEMER GROUP INC 0.10% of their portfolio WOODBRIDGE, NJ 528,884528.9k $55.8m $55.8m 0.10% Reduced -29.5k -29,474
78 CWM, LLC 0.21% of their portfolio OMAHA, NE 508,129508.1k $53.6m $53.6m 0.21% Reduced -175.4k -175,402
79 MANNING & NAPIER ADVISORS LLC 0.65% of their portfolio Fairport, NY 501,382501.4k $52.9m $52.9m 0.65% Added +10.8k +10,843
80 JFS WEALTH ADVISORS, LLC 3.57% of their portfolio HERMITAGE, PA 499,700499.7k $52.7m $52.7m 3.57% Added +3.7k +3,711
81 Rockefeller Capital Management L.P. 0.13% of their portfolio NEW YORK, NY 491,647491.6k $51.8m $51.8m 0.13% Added +95.2k +95,198
82 Global Strategic Investment Solutions, LLC 5.86% of their portfolio Scottsdale, AZ 480,410480.4k $50.7m $50.7m 5.86% Added +72.8k +72,809
83 BANK OF MONTREAL /CAN/ 0.03% of their portfolio TORONTO, A6 473,689473.7k $49.9m $49.9m 0.03% Reduced -27.0k -27,005
84 Farther Finance Advisors, LLC 1.19% of their portfolio SAN FRANCISCO, CA 441,351441.4k $46.6m $46.6m 1.19% Added +19.3k +19,322
85 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 439,190439.2k $46.3m $46.3m 0.02% Reduced -24.0k -23,965
86 NATIXIS ADVISORS, LLC 0.08% of their portfolio Boston, MA 421,258421.3k $44.4m $44.4m 0.08% Reduced -468.7k -468,697
87 Ascent Group, LLC 1.83% of their portfolio VIRGINIA BEACH, VA 403,075403.1k $42.5m $42.5m 1.83% Added +355.1k +355,063
88 COMERICA BANK 0.17% of their portfolio DALLAS, TX 388,695388.7k $41.0m $41.0m 0.17% Reduced -45.8k -45,817
89 Thrivent Financial for Lutherans 0.09% of their portfolio Minneapolis, MN 367,553367.6k $39.3m $39.3m 0.09% Reduced -4.3k -4,346
90 Equitable Holdings, Inc. 0.36% of their portfolio NEW YORK, NY 363,649363.6k $38.3m $38.3m 0.36% Added +38.2k +38,161
91 Wedmont Private Capital 1.83% of their portfolio WEST CHESTER, PA 349,835349.8k $35.8m $35.8m 1.83% Added +56.4k +56,439
92 AE Wealth Management LLC 0.31% of their portfolio TOPEKA, KS 348,423348.4k $36.7m $36.7m 0.31% Reduced -5.4k -5,439
93 JANE STREET GROUP, LLC 0.07% of their portfolio NEW YORK, NY 347,466347.5k $36.6m $36.6m 0.07% Reduced -1.9m -1,893,914
94 COMMERCE BANK 0.23% of their portfolio KANSAS CITY, MO 344,520344.5k $36.3m $36.3m 0.23% Added +2.1k +2,127
95 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 340,685340.7k $35.9m $35.9m 0.02% Reduced -23.6k -23,551
96 Allworth Financial LP 0.20% of their portfolio FOLSOM, CA 336,695336.7k $35.0m $35.0m 0.20% Reduced -18.9k -18,943
97 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.28% of their portfolio Stamford, CT 332,338332.3k $35.0m $35.0m 0.28% Added +151.9k +151,910
98 Cardinal Point Capital Management ULC 3.21% of their portfolio TORONTO, A6 331,175331.2k $34.9m $34.9m 3.21% Added +17.6k +17,590
99 Sanctuary Advisors, LLC 0.25% of their portfolio INDIANAPOLIS, IN 330,550330.6k $34.9m $34.9m 0.25% Reduced -14.8k -14,807
100 Baird Financial Group, Inc. 0.07% of their portfolio MILWAUKEE, WI 324,026324.0k $34.2m $34.2m 0.07% Reduced -62.3k -62,342