Vault-13

ISHARES TR HYG

IBOXX HI YD ETF · ETP · CUSIP 464288513 · ISIN US4642885135

920 institutional holders -11 vs Q2 2025
284,484,510284.5m shares reported held*
$23.1bnreported value*
86 new 363 added 298 reduced 91 sold out net bought ≈ $1.4bn (+5.5m 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 ($28.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $81.35. Options: 29 managers hold calls ($14.5bn notional), 91 hold puts ($54.3bn).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 788Q4 22: 899Q1 23: 843Q2 23: 867Q3 23: 858Q4 23: 933Q1 24: 914Q2 24: 901Q3 24: 900Q4 24: 988Q1 25: 935Q2 25: 931Q3 25: 920920Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022788
Q4 2022899
Q1 2023843
Q2 2023867
Q3 2023858
Q4 2023933
Q1 2024914
Q2 2024901
Q3 2024900
Q4 2024988
Q1 2025935
Q2 2025931
Q3 2025920

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q4 23: 430 bought or addedQ4 23: 412 cut or sold outQ1 24: 418 bought or addedQ1 24: 433 cut or sold outQ1 24Q2 24: 411 bought or addedQ2 24: 428 cut or sold outQ3 24: 424 bought or addedQ3 24: 402 cut or sold outQ3 24Q4 24: 456 bought or addedQ4 24: 380 cut or sold outQ1 25: 426 bought or addedQ1 25: 440 cut or sold outQ1 25Q2 25: 410 bought or addedQ2 25: 462 cut or sold outQ3 25: 449 bought or addedQ3 25: 389 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023430412
Q1 2024418433
Q2 2024411428
Q3 2024424402
Q4 2024456380
Q1 2025426440
Q2 2025410462
Q3 2025449389

Calls vs puts

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

CallsPuts
$0$20bn$40bn$60bnQ4 24 calls: $7.4bnQ4 24 puts: $22.7bnQ4 24P/C 3.07Q1 25 calls: $8.4bnQ1 25 puts: $38.6bnQ1 25P/C 4.60Q2 25 calls: $6.3bnQ2 25 puts: $37.1bnQ2 25P/C 5.87Q3 25 calls: $14.5bnQ3 25 puts: $54.3bnQ3 25P/C 3.75
Numbers
QuarterCallsPutsP/C
Q4 2024$7.4bn$22.7bn3.07
Q1 2025$8.4bn$38.6bn4.60
Q2 2025$6.3bn$37.1bn5.87
Q3 2025$14.5bn$54.3bn3.75

Biggest buyers

BARCLAYS PLC Added +8,838,393+8.8m
Nuveen, LLC Added +7,060,394+7.1m
BANK OF AMERICA CORP /DE/ Added +6,360,429+6.4m
JPMORGAN CHASE & CO Added +4,847,694+4.8m
GOLDMAN SACHS GROUP INC Added +3,476,148+3.5m
ALLSTATE CORP Added +2,749,404+2.7m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +1,880,282+1.9m
Elo Mutual Pension Insurance Co New +1,400,000+1.4m
ONTARIO TEACHERS PENSION PLAN BOARD Added +1,400,000+1.4m
TD Asset Management Inc Added +1,359,653+1.4m

Biggest sellers

Proficio Capital Partners LLC Reduced -11,535,600-11.5m
ROYAL BANK OF CANADA Reduced -6,502,845-6.5m
BNP PARIBAS FINANCIAL MARKETS Reduced -4,027,034-4.0m
BlackRock, Inc. Reduced -2,183,473-2.2m
CITIGROUP INC Reduced -2,022,703-2.0m
Balyasny Asset Management L.P. Sold out -1,948,668-1.9m
Liberty Mutual Group Asset Management Inc. Reduced -1,925,738-1.9m
MORGAN STANLEY Reduced -1,908,305-1.9m
Brevan Howard Capital Management LP Sold out -1,455,000-1.5m
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduced -1,307,600-1.3m

Biggest calls

CTC LLC Reduced $4.5bn193.4k shares
JANE STREET GROUP, LLC Added $2.1bn26.0m shares
GOLDMAN SACHS GROUP INC Added $1.9bn23.3m shares
BANK OF AMERICA CORP /DE/ Added $1.2bn15.0m shares
UBS Group AG Added $928.4m11.4m shares
Laurion Capital Management LP Added $751.0m9.2m shares
CITADEL ADVISORS LLC Added $700.2m8.6m shares
CITIGROUP INC Added $390.5m4.8m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $387.7m4.8m shares
MILLENNIUM MANAGEMENT LLC Added $328.8m4.0m shares

Biggest puts

CTC LLC Reduced $8.4bn383.9k shares
GOLDMAN SACHS GROUP INC Reduced $5.8bn71.0m shares
CITIGROUP INC Added $4.2bn51.7m shares
BARCLAYS PLC Added $4.1bn50.0m shares
BANK OF AMERICA CORP /DE/ Added $3.9bn47.4m shares
UBS Group AG Added $3.2bn39.3m shares
FARALLON CAPITAL MANAGEMENT, L.L.C. Added $3.2bn39.0m shares
CITADEL ADVISORS LLC Added $2.7bn33.5m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.6bn20.1m shares
WELLS FARGO & COMPANY/MN Added $1.5bn18.7m 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
BlackRock Portfolio Management LLC 13G · institution -4.7 pts · filed 2026-10-27 8.5% -4.7 pts 18.4m≈ $1.5bn 2026-10-27

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock, Inc. 0.03% of their portfolio New York, NY 20,538,82520.5m $1.7bn $1.7bn 0.03% Reduced -2.2m -2,183,473
2 BANK OF AMERICA CORP /DE/ 0.11% of their portfolio CHARLOTTE, NC 18,526,41418.5m $1.5bn $1.5bn 0.11% Added +6.4m +6,360,429
3 Clark Capital Management Group, Inc. 8.80% of their portfolio PHILADELPHIA, PA 17,309,51617.3m $1.4bn $1.4bn 8.80% Added +166.5k +166,516
4 MORGAN STANLEY 0.08% of their portfolio NEW YORK, NY 16,803,96516.8m $1.4bn $1.4bn 0.08% Reduced -1.9m -1,908,305
5 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 15,082,56215.1m $1.2bn $1.2bn 0.04% Added +4.8m +4,847,694
6 Nuveen, LLC 0.26% of their portfolio CHARLOTTE, NC 12,293,27712.3m $998.1m $998.1m 0.26% Added +7.1m +7,060,394
7 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 5.22% of their portfolio VICTORIA, A1 11,220,61811.2m $911.0m $911.0m 5.22% Reduced -1.3m -1,307,600
8 Japan Science & Technology Agency 15.02% of their portfolio TOKYO, M0 10,390,62610.4m $843.6m $843.6m 15.02% Unchanged
9 BARCLAYS PLC 0.31% of their portfolio LONDON, X0 10,380,55410.4m $842.8m $842.8m 0.31% Added +8.8m +8,838,393
10 ASSETMARK, INC 1.27% of their portfolio CONCORD, CA 7,312,7317.3m $593.7m $593.7m 1.27% Added +1.3m +1,290,901
11 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 6,876,6326.9m $558.3m $558.3m 0.08% Added +3.5m +3,476,148
12 ROYAL BANK OF CANADA 0.09% of their portfolio TORONTO, A6 6,232,3356.2m $506.0m $506.0m 0.09% Reduced -6.5m -6,502,845
13 BNP PARIBAS FINANCIAL MARKETS 0.38% of their portfolio PARIS, I0 6,028,4386.0m $489.4m $489.4m 0.38% Reduced -4.0m -4,027,034
14 TD Asset Management Inc 0.35% of their portfolio Toronto, A6 5,380,6335.4m $436.9m $436.9m 0.35% Added +1.4m +1,359,653
15 ENVESTNET ASSET MANAGEMENT INC 0.12% of their portfolio Berwyn, PA 5,122,0185.1m $415.9m $415.9m 0.12% Added +224.3k +224,275
16 ONTARIO TEACHERS PENSION PLAN BOARD 9.56% of their portfolio Toronto, A6 5,100,0005.1m $414.1m $414.1m 9.56% Added +1.4m +1,400,000
17 WELLS FARGO & COMPANY/MN 0.08% of their portfolio SAN FRANCISCO, CA 4,892,1734.9m $397.2m $397.2m 0.08% Added +434.0k +433,982
18 BNP PARIBAS 11.57% of their portfolio NEW YORK, NY 4,720,1364.7m $383.2m $383.2m 11.57% Added +184.9k +184,894
19 APG Asset Management US Inc. 2.77% of their portfolio New York, NY 4,634,5004.6m $375.2m $375.2m 2.77% Reduced -774.0k -774,000
20 CITIGROUP INC 0.23% of their portfolio NEW YORK, NY 4,019,0594.0m $326.3m $326.3m 0.23% Reduced -2.0m -2,022,703
21 Elliott Investment Management L.P. 2.25% of their portfolio WEST PALM BEACH, FL 3,800,0003.8m $308.5m $308.5m 2.25% Unchanged
22 Counterpoint Mutual Funds LLC 22.22% of their portfolio San Diego, CA 3,466,1683.5m $281.4m $281.4m 22.22% Added +127.3k +127,323
23 Ocean Park Asset Management, LLC 11.32% of their portfolio SANTA MONICA, CA 3,381,4913.4m $274.5m $274.5m 11.32% Added +1.0m +1,036,902
24 ALLSTATE CORP 5.71% of their portfolio NORTHBROOK, IL 3,083,2493.1m $250.3m $250.3m 5.71% Added +2.7m +2,749,404
25 OSAIC HOLDINGS, INC. 0.30% of their portfolio SCOTTSDALE, AZ 2,609,6742.6m $211.8m $211.8m 0.30% Reduced -40.5k -40,528
26 UBS Group AG 0.04% of their portfolio ZURICH, V8 2,522,6472.5m $204.8m $204.8m 0.04% Reduced -68.7k -68,666
27 LPL Financial LLC 0.06% of their portfolio FORT MILL, SC 2,521,7172.5m $204.7m $204.7m 0.06% Added +370.7k +370,732
28 STIFEL FINANCIAL CORP 0.17% of their portfolio ST. LOUIS, MO 2,309,8572.3m $187.5m $187.5m 0.17% Added +171.6k +171,552
29 State of Tennessee, Department of Treasury 0.62% of their portfolio NASHVILLE, TN 2,298,5632.3m $186.6m $186.6m 0.62% Reduced -456.7k -456,682
30 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.34% of their portfolio TORONTO, A6 2,285,1002.3m $185.5m $185.5m 0.34% Added +1.9m +1,880,282
31 Man Group plc 0.32% of their portfolio LONDON, X0 2,025,1092.0m $164.4m $164.4m 0.32% Reduced -134.2k -134,212
32 Endurance Services Ltd 26.91% of their portfolio PURCHASE, NY 1,979,0002.0m $160.7m $160.7m 26.91% Unchanged
33 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,818,6591.8m $147.3m $147.3m 0.03% Added +282.6k +282,574
34 MACKENZIE FINANCIAL CORP 0.18% of their portfolio TORONTO ONTARIO, A6 1,786,6101.8m $145.1m $145.1m 0.18% Added +36.4k +36,390
35 JANE STREET GROUP, LLC 0.15% of their portfolio NEW YORK, NY 1,576,4751.6m $128.0m $128.0m 0.15% Reduced -703.0k -702,960
36 Elo Mutual Pension Insurance Co 1.87% of their portfolio ESPOO, H9 1,400,0001.4m $113.7m $113.7m 1.87% New
37 SCHRODER INVESTMENT MANAGEMENT GROUP 0.09% of their portfolio London, X0 1,344,7711.3m $109.2m $109.2m 0.09% Added +1.2m +1,241,473
38 WINTON GROUP Ltd 3.93% of their portfolio LONDON, X0 1,293,6601.3m $105.0m $105.0m 3.93% New
39 Nan Shan Life Insurance Co., Ltd. 2.22% of their portfolio Taipei City, F5 1,284,6521.3m $104.3m $104.3m 2.22% Unchanged
40 HIGHBRIDGE CAPITAL MANAGEMENT LLC 5.25% of their portfolio NEW YORK, NY 1,274,7521.3m $103.5m $103.5m 5.25% New
41 iA Global Asset Management Inc. 1.24% of their portfolio QUEBEC, A8 1,113,3911.1m $90.4m $90.4m 1.24% Added +13.5k +13,501
42 Liberty Mutual Group Asset Management Inc. 26.27% of their portfolio Boston, MA 1,017,7511.0m $82.6m $82.6m 26.27% Reduced -1.9m -1,925,738
43 Cetera Investment Advisers 0.10% of their portfolio SCHAUMBURG, IL 1,012,1701.0m $82.2m $82.2m 0.10% Added +169.3k +169,308
44 Corebridge Financial, Inc. 4.12% of their portfolio HOUSTON, TX 942,339942.3k $76.5m $76.5m 4.12% New
45 PRUDENTIAL FINANCIAL INC 0.09% of their portfolio NEWARK, NJ 925,007925.0k $75.1m $75.1m 0.09% Added +114.1k +114,105
46 US BANCORP \DE\ 0.09% of their portfolio MINNEAPOLIS, MN 892,609892.6k $72.5m $72.5m 0.09% Added +6.6k +6,647
47 Thrivent Financial for Lutherans 0.14% of their portfolio Minneapolis, MN 852,229852.2k $68.9m $68.9m 0.14% Added +67.9k +67,904
48 NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio NEW YORK, NY 811,759811.8k $65.9m $65.9m 0.05% Reduced -97.9k -97,904
49 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 773,614773.6k $62.8m $62.8m 0.02% Added +33.5k +33,550
50 SUMITOMO MITSUI FINANCIAL GROUP, INC. 0.98% of their portfolio TOKYO, M0 685,256685.3k $55.6m $55.6m 0.98% Added +33.7k +33,704
51 National Philanthropic Trust 0.62% of their portfolio Jenkintown, PA 682,852682.9k $55.4m $55.4m 0.62% Added +8.8k +8,807
52 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 660,150660.1k $53.6m $53.6m 0.01% Added +609.3k +609,260
53 Allianz Asset Management GmbH 0.06% of their portfolio MUNICH, 2M 645,190645.2k $52.4m $52.4m 0.06% Reduced -180.3k -180,350
54 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 612,027612.0k $49.7m $49.7m 0.04% Reduced -50.9k -50,873
55 MML INVESTORS SERVICES, LLC 0.12% of their portfolio SPRINGFIELD, MA 564,632564.6k $45.8m $45.8m 0.12% Added +34.3k +34,263
56 Bank Julius Baer & Co. Ltd, Zurich 0.12% of their portfolio ZURICH, V8 517,433517.4k $42.0m $42.0m 0.12% Added +19.8k +19,843
57 TORONTO DOMINION BANK 0.08% of their portfolio TORONTO, ONTARIO, A6 478,500478.5k $38.8m $38.8m 0.08% Added +370.0k +370,000
58 Pure Financial Advisors, LLC 0.61% of their portfolio SAN DIEGO, CA 473,679473.7k $38.5m $38.5m 0.61% Added +30.9k +30,888
59 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 458,787458.8k $37.2m $37.2m 0.01% Added +251.1k +251,129
60 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 451,415451.4k $36.7m $36.7m 0.05% Added +201.7k +201,698
61 HUNTINGTON NATIONAL BANK 0.21% of their portfolio COLUMBUS, OH 417,941417.9k $33.9m $33.9m 0.21% Added +18.8k +18,806
62 COMERICA BANK 0.12% of their portfolio DALLAS, TX 393,505393.5k $31.9m $31.9m 0.12% Added +202.2k +202,152
63 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 392,432392.4k $31.9m $31.9m 0.03% New
64 MACQUARIE GROUP LTD 0.04% of their portfolio Sydney, NSW 2000, C3 391,857391.9k $31.8m $31.8m 0.04% Unchanged
65 SG Americas Securities, LLC 0.11% of their portfolio NEW YORK, NY 387,128387.1k $31.4m $31.4m 0.11% Reduced -43.7k -43,746
66 CBIZ Investment Advisory Services, LLC 1.23% of their portfolio INDEPENDENCE, OH 386,154386.2k $31.4m $31.4m 1.23% Added +23.9k +23,934
67 Deseret Mutual Benefit Administrators 13.13% of their portfolio SALT LAKE CITY, UT 384,166384.2k $31.2m $31.2m 13.13% Added +152.1k +152,096
68 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 382,888382.9k $31.1m $31.1m 0.03% New
69 Verition Fund Management LLC 0.17% of their portfolio GREENWICH, CT 375,500375.5k $30.5m $30.5m 0.17% Reduced -618.0k -617,986
70 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 373,126373.1k $30.3m $30.3m 0.04% Added +35.7k +35,660
71 CI INVESTMENTS INC. 0.11% of their portfolio TORONTO, Z4 371,170371.2k $30.1m $30.1m 0.11% Reduced -240.0k -240,019
72 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 359,386359.4k $29.2m $29.2m 0.01% Reduced -170.5k -170,535
73 Howard Capital Management, LLC 0.38% of their portfolio Alpharetta, GA 355,687355.7k $28.9m $28.9m 0.38% Added +4.3k +4,292
74 1832 Asset Management L.P. 0.05% of their portfolio TORONTO, A6 355,000355.0k $28.8m $28.8m 0.05% Reduced -51.8k -51,840
75 Towercrest Capital Management 4.61% of their portfolio NEWTOWN, PA 353,515353.5k $28.7m $28.7m 4.61% Added +21.4k +21,444
76 VIEWPOINT INVESTMENT PARTNERS CORP 15.27% of their portfolio CALGARY, A0 346,600346.6k $28.0m $28.0m 15.27% Unchanged
77 Hikari Tsushin, Inc. 1.87% of their portfolio TOKYO, M0 343,165343.2k $27.9m $27.9m 1.87% Unchanged
78 Aristotle Pacific Capital, LLC 13.31% of their portfolio NEWPORT BEACH, CA 336,868336.9k $27.4m $27.4m 13.31% Reduced -167.8k -167,830
79 Stairway Partners, LLC 1.40% of their portfolio MINNEAPOLIS, MN 324,745324.7k $26.4m $26.4m 1.40% Added +13.7k +13,657
80 Strong Tower Advisory Services 4.80% of their portfolio MINNEAPOLIS, MN 312,045312.0k $25.3m $25.3m 4.80% Added +12.8k +12,793
81 Allianz Investment Management U.S. LLC 0.91% of their portfolio Minneapolis, MN 300,000300.0k $24.4m $24.4m 0.91% Unchanged
82 Williams Jones Wealth Management, LLC. 0.27% of their portfolio NEW YORK, NY 293,700293.7k $23.8m $23.8m 0.27% Added +7.2k +7,200
83 PRINCIPAL SECURITIES, INC. 0.39% of their portfolio DES MOINES, IA 292,729292.7k $23.8m $23.8m 0.39% Added +31.6k +31,573
84 Focus Partners Wealth 0.04% of their portfolio ST LOUIS, MO 292,706292.7k $23.8m $23.8m 0.04% Added +14.4k +14,442
85 STEVENS CAPITAL MANAGEMENT LP 3.10% of their portfolio RADNOR, PA 288,000288.0k $23.4m $23.4m 3.10% Added +266.2k +266,199
86 Foundations Investment Advisors, LLC 0.33% of their portfolio PHOENIX, AZ 279,553279.6k $22.7m $22.7m 0.33% Added +250.6k +250,591
87 KWMG, LLC 1.98% of their portfolio OVERLAND PARK, KS 278,344278.3k $22.6m $22.6m 1.98% Added +8.6k +8,573
88 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 278,290278.3k $22.6m $22.6m 0.01% Added +81.5k +81,520
89 Trust Co 2.30% of their portfolio MANHATTAN, KS 277,422277.4k $22.5m $22.5m 2.30% Added +20.3k +20,307
90 POTOMAC FUND MANAGEMENT INC /ADV 0.95% of their portfolio BETHESDA, MD 275,943275.9k $22.4m $22.4m 0.95% Added +37.6k +37,563
91 Bain Capital Credit, LP 6.51% of their portfolio Boston, MA 254,042254.0k $20.6m $20.6m 6.51% New
92 Cambridge Investment Research Advisors, Inc. 0.06% of their portfolio FAIRFIELD, IA 252,774252.8k $20.5m $20.5m 0.06% Added +33.5k +33,477
93 Summit Financial Consulting LLC 16.00% of their portfolio STERLING HEIGHTS, MI 246,952247.0k $20.1m $20.1m 16.00% Added +241.0k +240,959
94 Twele Capital Management, Inc. 3.66% of their portfolio MINNETONKA, MN 244,371244.4k $19.8m $19.8m 3.66% Added +504 +504
95 Kestra Advisory Services, LLC 0.09% of their portfolio AUSTIN, TX 233,254233.3k $18.9m $18.9m 0.09% Reduced -16.0k -16,020
96 BANK OF NOVA SCOTIA 0.03% of their portfolio TORONTO, A6 221,302221.3k $18.0m $18.0m 0.03% Reduced -239.1k -239,078
97 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 219,290219.3k $17.8m $17.8m 0.01% Reduced -455.7k -455,665
98 CAPSTONE INVESTMENT ADVISORS, LLC 0.15% of their portfolio NEW YORK, NY 217,401217.4k $17.7m $17.7m 0.15% Reduced -31.8k -31,800
99 Alliance Wealth Management Group 3.91% of their portfolio FLEMINGTON, NJ 216,627216.6k $17.6m $17.6m 3.91% Added +20.3k +20,348
100 FIFTH THIRD BANCORP 0.06% of their portfolio CINCINNATI, OH 213,653213.7k $17.3m $17.3m 0.06% Reduced -10.5k -10,527