Vault-13

ISHARES TR HYG

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

990 institutional holders -19 vs Q4 2025
281,491,639281.5m shares reported held*
$22.4bnreported value*
91 new 378 added 356 reduced 108 sold out net bought ≈ $51.8m (+630.3k 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 ($29.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $79.66. Options: 36 managers hold calls ($16.0bn notional), 99 hold puts ($49.3bn).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 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: 920Q4 25: 1,009Q1 26: 990990Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q4 20251,009
Q1 2026990

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q2 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 25Q4 25: 470 bought or addedQ4 25: 390 cut or sold outQ1 26: 469 bought or addedQ1 26: 464 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024411428
Q3 2024424402
Q4 2024456380
Q1 2025426440
Q2 2025410462
Q3 2025449389
Q4 2025470390
Q1 2026469464

Calls vs puts

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

CallsPuts
$0$20bn$40bn$60bnQ2 25 calls: $6.3bnQ2 25 puts: $37.1bnQ2 25P/C 5.87Q3 25 calls: $14.5bnQ3 25 puts: $54.3bnQ3 25P/C 3.75Q4 25 calls: $12.7bnQ4 25 puts: $43.3bnQ4 25P/C 3.40Q1 26 calls: $16.0bnQ1 26 puts: $49.3bnQ1 26P/C 3.09
Numbers
QuarterCallsPutsP/C
Q2 2025$6.3bn$37.1bn5.87
Q3 2025$14.5bn$54.3bn3.75
Q4 2025$12.7bn$43.3bn3.40
Q1 2026$16.0bn$49.3bn3.09

Biggest buyers

MORGAN STANLEY Added +8,032,725+8.0m
BANK OF AMERICA CORP /DE/ Added +7,787,326+7.8m
Brevan Howard Capital Management LP New +6,420,000+6.4m
SBI Okasan Asset Management Co.Ltd. New +4,405,210+4.4m
JPMORGAN CHASE & CO Added +4,339,769+4.3m
BNP PARIBAS FINANCIAL MARKETS Added +2,939,108+2.9m
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Added +2,696,000+2.7m
CITIGROUP INC Added +2,084,436+2.1m
WELLS FARGO & COMPANY/MN Added +1,885,387+1.9m
Clark Capital Management Group, Inc. Added +1,774,250+1.8m

Biggest sellers

HSBC HOLDINGS PLC Reduced -6,967,073-7.0m
BlackRock, Inc. Reduced -6,457,716-6.5m
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC Reduced -5,230,000-5.2m
ONTARIO TEACHERS PENSION PLAN BOARD Reduced -4,480,000-4.5m
Nuveen, LLC Reduced -4,312,449-4.3m
Elliott Investment Management L.P. Sold out -3,800,000-3.8m
Counterpoint Mutual Funds LLC Reduced -3,434,806-3.4m
BNP PARIBAS Reduced -2,266,629-2.3m
ROYAL BANK OF CANADA Reduced -2,134,838-2.1m
Caisse de depot et placement du Quebec Reduced -1,857,562-1.9m

Biggest calls

CTC LLC Added $4.9bn223.0k shares
GOLDMAN SACHS GROUP INC Added $3.3bn41.1m shares
CITADEL ADVISORS LLC Reduced $820.6m10.3m shares
JANE STREET GROUP, LLC Reduced $745.2m9.4m shares
WELLS FARGO & COMPANY/MN Added $689.8m8.7m shares
BARCLAYS PLC Added $658.8m8.3m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $646.5m8.1m shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND New $549.0m6.9m shares
BNP PARIBAS FINANCIAL MARKETS Added $449.1m56.5k shares
BlackRock, Inc. New $441.6m5.5m shares

Biggest puts

CTC LLC Added $8.9bn431.0k shares
GOLDMAN SACHS GROUP INC Added $5.2bn65.1m shares
CITADEL ADVISORS LLC Added $3.5bn43.7m shares
BARCLAYS PLC Reduced $3.4bn42.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.9bn36.4m shares
CITIGROUP INC Added $2.6bn32.7m shares
JANE STREET GROUP, LLC Reduced $2.3bn29.4m shares
UBS Group AG Added $2.0bn25.2m shares
WELLS FARGO & COMPANY/MN Added $2.0bn25.1m shares
PICTON MAHONEY ASSET MANAGEMENT Added $1.4bn17.8m 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.13% of their portfolio NEW YORK, NY 26,248,04826.2m $2.1bn $2.1bn 0.13% Added +8.0m +8,032,725
2 Clark Capital Management Group, Inc. 9.31% of their portfolio PHILADELPHIA, PA 18,968,08419.0m $1.5bn $1.5bn 9.31% Added +1.8m +1,774,250
3 BANK OF AMERICA CORP /DE/ 0.11% of their portfolio CHARLOTTE, NC 18,911,85218.9m $1.5bn $1.5bn 0.11% Added +7.8m +7,787,326
4 BlackRock, Inc. 0.02% of their portfolio New York, NY 16,997,54517.0m $1.4bn $1.4bn 0.02% Reduced -6.5m -6,457,716
5 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 7.03% of their portfolio VICTORIA, A1 14,920,61814.9m $1.2bn $1.2bn 7.03% Added +2.7m +2,696,000
6 Japan Science & Technology Agency 17.18% of their portfolio TOKYO, M0 10,390,62610.4m $826.7m $826.7m 17.18% Unchanged
7 WELLS FARGO & COMPANY/MN 0.12% of their portfolio SAN FRANCISCO, CA 7,568,1777.6m $602.1m $602.1m 0.12% Added +1.9m +1,885,387
8 ASSETMARK, INC 1.13% of their portfolio CONCORD, CA 6,941,6666.9m $552.3m $552.3m 1.13% Reduced -63.8k -63,789
9 ONTARIO TEACHERS PENSION PLAN BOARD 15.23% of their portfolio Toronto, A6 6,570,0006.6m $522.7m $522.7m 15.23% Reduced -4.5m -4,480,000
10 BNP PARIBAS FINANCIAL MARKETS 0.34% of their portfolio PARIS, I0 6,499,2726.5m $517.1m $517.1m 0.34% Added +2.9m +2,939,108
11 Brevan Howard Capital Management LP 5.10% of their portfolio ST. HELIER, Y9 6,420,0006.4m $510.8m $510.8m 5.10% New
12 APG Asset Management US Inc. 3.79% of their portfolio New York, NY 6,197,2746.2m $491.9m $491.9m 3.79% Added +564.8k +564,838
13 UBS Group AG 0.09% of their portfolio ZURICH, V8 6,075,9516.1m $483.4m $483.4m 0.09% Added +1.7m +1,656,119
14 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 6,038,6946.0m $475.9m $475.9m 0.03% Added +4.3m +4,339,769
15 BARCLAYS PLC 0.16% of their portfolio LONDON, X0 5,537,9105.5m $440.6m $440.6m 0.16% Added +290.0k +289,954
16 ROYAL BANK OF CANADA 0.08% of their portfolio TORONTO, A6 5,219,4785.2m $415.3m $415.3m 0.08% Reduced -2.1m -2,134,838
17 CITIGROUP INC 0.26% of their portfolio NEW YORK, NY 5,065,6275.1m $403.0m $403.0m 0.26% Added +2.1m +2,084,436
18 ENVESTNET ASSET MANAGEMENT INC 0.11% of their portfolio Berwyn, PA 4,957,3555.0m $394.4m $394.4m 0.11% Reduced -72.5k -72,539
19 Nuveen, LLC 0.11% of their portfolio CHARLOTTE, NC 4,942,5084.9m $393.2m $393.2m 0.11% Reduced -4.3m -4,312,449
20 SBI Okasan Asset Management Co.Ltd. 14.23% of their portfolio TOKYO, M0 4,405,2104.4m $347.2m $347.2m 14.23% New
21 TD Asset Management Inc 0.24% of their portfolio Toronto, A6 3,761,5173.8m $299.3m $299.3m 0.24% Added +693.9k +693,862
22 Caisse de depot et placement du Quebec 0.41% of their portfolio Montreal, A8 3,202,1623.2m $254.8m $254.8m 0.41% Reduced -1.9m -1,857,562
23 LPL Financial LLC 0.06% of their portfolio FORT MILL, SC 2,732,8502.7m $217.4m $217.4m 0.06% Reduced -174.3k -174,295
24 STIFEL FINANCIAL CORP 0.20% of their portfolio ST. LOUIS, MO 2,727,0662.7m $217.0m $217.0m 0.20% Added +7.2k +7,186
25 Ocean Park Asset Management, LLC 12.36% of their portfolio SANTA MONICA, CA 2,690,0912.7m $214.0m $214.0m 12.36% Reduced -643.7k -643,700
26 Endurance Services Ltd 31.67% of their portfolio PURCHASE, NY 2,363,6962.4m $188.1m $188.1m 31.67% Added +362.9k +362,896
27 BNP PARIBAS 5.97% of their portfolio NEW YORK, NY 2,361,8212.4m $187.9m $187.9m 5.97% Reduced -2.3m -2,266,629
28 MACKENZIE FINANCIAL CORP 0.21% of their portfolio TORONTO ONTARIO, A6 2,249,0132.2m $178.9m $178.9m 0.21% Added +480.8k +480,803
29 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 2,110,8912.1m $167.9m $167.9m 0.02% Reduced -1.7m -1,730,431
30 ALLSTATE CORP 1.61% of their portfolio NORTHBROOK, IL 1,893,3021.9m $150.6m $150.6m 1.61% Added +1.3m +1,308,570
31 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.23% of their portfolio TORONTO, A6 1,785,1221.8m $142.0m $142.0m 0.23% Added +250.0k +250,000
32 HRT FINANCIAL LP 0.48% of their portfolio NEW YORK, NY 1,707,1661.7m $135.8m $135.8m 0.48% Added +1.2m +1,237,827
33 JANE STREET GROUP, LLC 0.15% of their portfolio NEW YORK, NY 1,702,8511.7m $135.5m $135.5m 0.15% Added +1.7m +1,700,285
34 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.16% of their portfolio BALA CYNWYD, PA 1,586,4321.6m $126.2m $126.2m 0.16% Added +1.5m +1,516,145
35 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,553,6521.6m $123.2m $123.2m 0.03% Reduced -77.8k -77,780
36 Elo Mutual Pension Insurance Co 1.84% of their portfolio ESPOO, H9 1,400,0001.4m $111.4m $111.4m 1.84% Unchanged
37 PartnerRe Asset Management CORP 80.57% of their portfolio STAMFORD, CT 1,397,7451.4m $111.2m $111.2m 80.57% Unchanged
38 Symetra Investment Management Co 9.32% of their portfolio Farmington, CT 1,352,8251.4m $107.6m $107.6m 9.32% Added +1.3m +1,327,765
39 iA Global Asset Management Inc. 1.52% of their portfolio QUEBEC, A8 1,350,8201.4m $107.5m $107.5m 1.52% Added +50.7k +50,695
40 Cetera Investment Advisers 0.10% of their portfolio SCHAUMBURG, IL 1,179,2131.2m $93.8m $93.8m 0.10% Added +80.9k +80,901
41 CITADEL ADVISORS LLC 0.07% of their portfolio MIAMI, FL 1,172,8861.2m $93.3m $93.3m 0.07% Reduced -953.6k -953,611
42 Liberty Mutual Group Asset Management Inc. 6.82% of their portfolio Boston, MA 1,071,2331.1m $85.2m $85.2m 6.82% Reduced -1.6m -1,560,116
43 State of Tennessee, Department of Treasury 0.24% of their portfolio NASHVILLE, TN 894,037894.0k $71.1m $71.1m 0.24% Reduced -304.8k -304,830
44 Bain Capital Credit, LP 23.35% of their portfolio Boston, MA 889,077889.1k $70.7m $70.7m 23.35% Added +223.0k +223,044
45 PRUDENTIAL FINANCIAL INC 0.08% of their portfolio NEWARK, NJ 847,469847.5k $67.4m $67.4m 0.08% Reduced -48.0k -48,046
46 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 843,045843.0k $67.1m $67.1m 0.02% Added +38.9k +38,880
47 Jefferies Financial Group Inc. 0.81% of their portfolio NEW YORK, NY 836,081836.1k $66.5m $66.5m 0.81% Added +830.8k +830,789
48 Thrivent Financial for Lutherans 0.13% of their portfolio Minneapolis, MN 828,290828.3k $65.9m $65.9m 0.13% Reduced -29.9k -29,947
49 National Philanthropic Trust 0.67% of their portfolio Jenkintown, PA 793,126793.1k $63.1m $63.1m 0.67% Added +49.5k +49,503
50 SUMITOMO MITSUI FINANCIAL GROUP, INC. 1.26% of their portfolio TOKYO, M0 776,830776.8k $61.8m $61.8m 1.26% Added +66.3k +66,302
51 US BANCORP \DE\ 0.07% of their portfolio MINNEAPOLIS, MN 742,589742.6k $59.1m $59.1m 0.07% Reduced -57.0k -57,041
52 Banco BTG Pactual S.A. 11.07% of their portfolio RIO DE JANEIRO, D5 712,975713.0k $56.7m $56.7m 11.07% New
53 NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC 0.74% of their portfolio MILWAUKEE, WI 615,000615.0k $48.9m $48.9m 0.74% Reduced -5.2m -5,230,000
54 Optiver Holding B.V. 1.82% of their portfolio AMSTERDAM, P7 605,577605.6k $48.2m $48.2m 1.82% New
55 MML INVESTORS SERVICES, LLC 0.13% of their portfolio SPRINGFIELD, MA 591,992592.0k $47.1m $47.1m 0.13% Reduced -38.3k -38,277
56 OLD MISSION CAPITAL LLC 1.07% of their portfolio CHICAGO, IL 567,895567.9k $45.2m $45.2m 1.07% New
57 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 564,137564.1k $44.9m $44.9m 0.03% Reduced -154.7k -154,683
58 Pure Financial Advisors, LLC 0.61% of their portfolio SAN DIEGO, CA 533,868533.9k $42.5m $42.5m 0.61% Added +29.2k +29,176
59 CI INVESTMENTS INC. 0.20% of their portfolio TORONTO, Z4 525,328525.3k $41.8m $41.8m 0.20% Added +126.7k +126,733
60 Corebridge Financial, Inc. 3.61% of their portfolio HOUSTON, TX 500,000500.0k $39.4m $39.4m 3.61% New
61 TORONTO DOMINION BANK 0.07% of their portfolio TORONTO, ONTARIO, A6 483,289483.3k $38.5m $38.5m 0.07% Added +43.8k +43,750
62 HUNTINGTON NATIONAL BANK 0.21% of their portfolio COLUMBUS, OH 481,173481.2k $38.3m $38.3m 0.21% Added +38.5k +38,486
63 DV Trading LLC 3.40% of their portfolio CHICAGO, IL 470,849470.8k $37.5m $37.5m 3.40% Added +444.7k +444,734
64 Towercrest Capital Management 5.74% of their portfolio NEWTOWN, PA 462,631462.6k $36.8m $36.8m 5.74% Added +20.1k +20,145
65 SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio London, X0 446,843446.8k $35.6m $35.6m 0.03% Unchanged
66 CBIZ Investment Advisory Services, LLC 1.28% of their portfolio INDEPENDENCE, OH 441,115441.1k $35.1m $35.1m 1.28% Added +31.4k +31,397
67 CTC LLC 2.67% of their portfolio CHICAGO, IL 419,774419.8k $33.4m $33.4m 2.67% New
68 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 404,383404.4k $32.2m $32.2m 0.05% Reduced -33.8k -33,818
69 IMC-Chicago, LLC 0.49% of their portfolio CHICAGO, IL 404,180404.2k $32.2m $32.2m 0.49% New
70 DSC Meridian Capital LP 13.54% of their portfolio NEW YORK, NY 402,329402.3k $32.0m $32.0m 13.54% New
71 Deseret Mutual Benefit Administrators 10.72% of their portfolio SALT LAKE CITY, UT 395,455395.5k $31.5m $31.5m 10.72% Reduced -2.3k -2,338
72 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 394,518394.5k $31.4m $31.4m 0.01% Reduced -96.4k -96,446
73 NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio NEW YORK, NY 385,030385.0k $30.6m $30.6m 0.02% Reduced -358.5k -358,485
74 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 356,387356.4k $28.4m $28.4m 0.03% Added +292.4k +292,352
75 1832 Asset Management L.P. 0.04% of their portfolio TORONTO, A6 354,301354.3k $28.2m $28.2m 0.04% Unchanged
76 Howard Capital Management, LLC 0.45% of their portfolio Alpharetta, GA 348,192348.2k $27.7m $27.7m 0.45% Reduced -20.9k -20,869
77 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 344,783344.8k $27.4m $27.4m 0.04% Reduced -35.1k -35,139
78 Hikari Tsushin, Inc. 1.88% of their portfolio TOKYO, M0 343,165343.2k $27.3m $27.3m 1.88% Unchanged
79 Stairway Partners, LLC 1.34% of their portfolio MINNEAPOLIS, MN 326,029326.0k $25.9m $25.9m 1.34% Added +1.6k +1,574
80 STATE OF WISCONSIN INVESTMENT BOARD 0.06% of their portfolio MADISON, WI 325,000325.0k $25.9m $25.9m 0.06% New
81 Williams Jones Wealth Management, LLC. 0.31% of their portfolio NEW YORK, NY 321,855321.9k $25.6m $25.6m 0.31% Unchanged
82 FIFTH THIRD BANCORP 0.04% of their portfolio CINCINNATI, OH 306,548306.5k $24.4m $24.4m 0.04% Added +98.0k +98,005
83 KWMG, LLC 1.99% of their portfolio OVERLAND PARK, KS 300,297300.3k $23.9m $23.9m 1.99% Added +13.0k +12,975
84 Allianz SE 0.26% of their portfolio Munich, 2M 300,000300.0k $23.9m $23.9m 0.26% Unchanged
85 Alliance Wealth Management Group 5.19% of their portfolio FLEMINGTON, NJ 298,247298.2k $23.7m $23.7m 5.19% Added +8.7k +8,723
86 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 295,339295.3k $23.5m $23.5m 0.01% Reduced -7.0m -6,967,073
87 Focus Partners Wealth 0.03% of their portfolio ST LOUIS, MO 287,606287.6k $22.9m $22.9m 0.03% Added +1.1k +1,081
88 GSA CAPITAL PARTNERS LLP 1.42% of their portfolio LONDON, X0 286,690286.7k $22.8m $22.8m 1.42% New
89 Trust Co 2.13% of their portfolio MANHATTAN, KS 285,623285.6k $22.7m $22.7m 2.13% Added +9.5k +9,546
90 Man Group plc 0.05% of their portfolio LONDON, X0 282,724282.7k $22.5m $22.5m 0.05% Reduced -1.7m -1,749,789
91 Summit Financial Consulting LLC 15.91% of their portfolio STERLING HEIGHTS, MI 279,386279.4k $22.2m $22.2m 15.91% Added +11.2k +11,195
92 Bank Julius Baer & Co. Ltd, Zurich 0.06% of their portfolio ZURICH, V8 270,858270.9k $21.5m $21.5m 0.06% Reduced -216.3k -216,269
93 CIBC Bancorp USA Inc. 0.03% of their portfolio CHICAGO, IL 269,116269.1k $21.4m $21.4m 0.03% First filing
94 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.04% of their portfolio PHILADELPHIA, PA 256,901256.9k $20.4m $20.4m 0.04% Unchanged
95 SOROS FUND MANAGEMENT LLC 0.27% of their portfolio NEW YORK, NY 250,000250.0k $19.9m $19.9m 0.27% New
96 Ensign Peak Advisors, Inc 0.04% of their portfolio SALT LAKE CITY, UT 248,016248.0k $19.7m $19.7m 0.04% Unchanged
97 Graham Capital Management, L.P. 0.66% of their portfolio ROWAYTON, CT 246,900246.9k $19.6m $19.6m 0.66% Added +216.8k +216,800
98 TUDOR INVESTMENT CORP ET AL 0.11% of their portfolio STAMFORD, CT 245,610245.6k $19.5m $19.5m 0.11% Added +97.0k +97,010
99 Aristotle Pacific Capital, LLC 15.77% of their portfolio NEWPORT BEACH, CA 243,868243.9k $19.4m $19.4m 15.77% Reduced -459.6k -459,588
100 Strong Tower Advisory Services 3.64% of their portfolio MINNEAPOLIS, MN 243,418243.4k $19.4m $19.4m 3.64% Added +9.0k +8,960