Vault-13

ISHARES TR TLH

10-20 YR TRS ETF · ETP · CUSIP 464288653

421 institutional holders +73 vs Q3 2023
66,059,29766.1m shares reported held*
$7.1bnreported value*
105 new 144 added 116 reduced 50 sold out net bought ≈ $541.0m (+5.0m 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 ($13.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $108.20. Options: 2 managers hold calls ($11.1m notional), 2 hold puts ($2.8m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 309Q4 22: 353Q1 23: 374Q2 23: 398Q3 23: 348Q4 23: 421421Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022309
Q4 2022353
Q1 2023374
Q2 2023398
Q3 2023348
Q4 2023421

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 22: 251 bought or addedQ4 22: 100 cut or sold outQ4 22Q1 23: 225 bought or addedQ1 23: 166 cut or sold outQ1 23Q2 23: 259 bought or addedQ2 23: 143 cut or sold outQ2 23Q3 23: 131 bought or addedQ3 23: 274 cut or sold outQ3 23Q4 23: 249 bought or addedQ4 23: 166 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022251100
Q1 2023225166
Q2 2023259143
Q3 2023131274
Q4 2023249166

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ1 23 calls: $664.3kQ1 23 puts: $0Q1 23P/C 0.00Q2 23 calls: $443.1kQ2 23 puts: $686.8kQ2 23P/C 1.55Q3 23 calls: $1.1mQ3 23 puts: $1.4mQ3 23P/C 1.30Q4 23 calls: $11.1mQ4 23 puts: $2.8mQ4 23P/C 0.26
Numbers
QuarterCallsPutsP/C
Q1 2023$664.3k$00.00
Q2 2023$443.1k$686.8k1.55
Q3 2023$1.1m$1.4m1.30
Q4 2023$11.1m$2.8m0.26

Biggest buyers

MORGAN STANLEY Added +1,821,004+1.8m
WELLS FARGO & COMPANY/MN Added +1,657,016+1.7m
JPMORGAN CHASE & CO Added +1,366,153+1.4m
Johns Hopkins University New +1,025,380+1.0m
ENVESTNET ASSET MANAGEMENT INC Added +1,008,959+1.0m
COLDSTREAM CAPITAL MANAGEMENT INC New +732,886+732.9k
STIFEL FINANCIAL CORP Added +673,186+673.2k
FAS Wealth Partners, Inc. New +610,689+610.7k
Annex Advisory Services, LLC Added +582,755+582.8k
Destination Wealth Management New +567,862+567.9k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -2,587,516-2.6m
Richard Bernstein Advisors LLC Reduced -2,055,880-2.1m
AMERIPRISE FINANCIAL INC Reduced -1,464,198-1.5m
CW Advisors, LLC Sold out -1,083,154-1.1m
JANE STREET GROUP, LLC Reduced -689,929-689.9k
GOLDMAN SACHS GROUP INC Sold out -420,077-420.1k
Corient Private Wealth LP Sold out -352,035-352.0k
Parallel Advisors, LLC Reduced -315,547-315.5k
FIRST CITIZENS BANK & TRUST CO Reduced -244,695-244.7k
SYON CAPITAL LLC Reduced -215,516-215.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $6.6m61.0k shares
CITADEL ADVISORS LLC Added $4.5m41.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.3m21.4k shares
CITADEL ADVISORS LLC Reduced $519.6k4.8k 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, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 10,417,67410.4m $1.1bn $1.1bn 0.13% Reduced -2.6m -2,587,516
2 Forum Financial Management, LP 14.20% of their portfolio LOMBARD, IL 6,961,4457.0m $753.6m $753.6m 14.20% Added +504.2k +504,209
3 ENVESTNET ASSET MANAGEMENT INC 0.21% of their portfolio Berwyn, PA 4,707,9624.7m $509.7m $509.7m 0.21% Added +1.0m +1,008,959
4 WELLS FARGO & COMPANY/MN 0.11% of their portfolio SAN FRANCISCO, CA 3,673,5203.7m $397.7m $397.7m 0.11% Added +1.7m +1,657,016
5 AMERIPRISE FINANCIAL INC 0.11% of their portfolio MINNEAPOLIS, MN 3,511,8843.5m $379.0m $379.0m 0.11% Reduced -1.5m -1,464,198
6 Richard Bernstein Advisors LLC 8.15% of their portfolio NEW YORK, NY 3,397,6953.4m $367.8m $367.8m 8.15% Reduced -2.1m -2,055,880
7 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 3,396,0703.4m $367.7m $367.7m 0.02% Added +1.8m +1,821,004
8 TRUIST FINANCIAL CORP 0.57% of their portfolio CHARLOTTE, NC 3,304,3713.3m $357.7m $357.7m 0.57% Added +86.3k +86,291
9 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,070,0542.1m $224.1m $224.1m 0.01% Added +1.4m +1,366,153
10 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 1,140,0051.1m $123.4m $123.4m 0.07% Added +514.5k +514,464
11 Itau Unibanco Holding S.A. 3.79% of their portfolio SAO PAULO, D5 1,064,5571.1m $115.2m $115.2m 3.79% Added +31.3k +31,254
12 Johns Hopkins University 4.67% of their portfolio BALTIMORE, MD 1,025,3801.0m $111.0m $111.0m 4.67% New
13 STIFEL FINANCIAL CORP 0.14% of their portfolio ST. LOUIS, MO 998,555998.6k $108.1m $108.1m 0.14% Added +673.2k +673,186
14 UBS Group AG 0.04% of their portfolio ZURICH, V8 994,572994.6k $107.7m $107.7m 0.04% Added +118.6k +118,636
15 Pathstone Holdings, LLC 0.47% of their portfolio ENGLEWOOD, NJ 800,549800.5k $86.5m $86.5m 0.47% First filing
16 Envestnet Portfolio Solutions, Inc. 0.34% of their portfolio BERWYN, PA 751,883751.9k $81.4m $81.4m 0.34% Reduced -45.9k -45,858
17 COLDSTREAM CAPITAL MANAGEMENT INC 2.22% of their portfolio BELLEVUE, WA 732,886732.9k $79.3m $79.3m 2.22% New
18 Annex Advisory Services, LLC 2.93% of their portfolio BROOKFIELD, WI 649,197649.2k $70.3m $70.3m 2.93% Added +582.8k +582,755
19 FAS Wealth Partners, Inc. 6.28% of their portfolio LEAWOOD, KS 610,689610.7k $66.1m $66.1m 6.28% New
20 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 579,468579.5k $62.7m $62.7m 0.02% Reduced -68.1k -68,086
21 Destination Wealth Management 2.13% of their portfolio Walnut Creek, CA 567,862567.9k $61.5m $61.5m 2.13% New
22 Sequoia Financial Advisors, LLC 0.75% of their portfolio Akron, OH 557,868557.9k $60.4m $60.4m 0.75% Added +39.8k +39,817
23 RiverFront Investment Group, LLC 1.74% of their portfolio RICHMOND, VA 513,627513.6k $55.6m $55.6m 1.74% Reduced -141.4k -141,431
24 BlackRock Inc. 0.00% of their portfolio New York, NY 498,737498.7k $54.0m $54.0m 0.00% Reduced -122.1k -122,079
25 FIRST CITIZENS BANK & TRUST CO 0.98% of their portfolio RALEIGH, NC 496,549496.5k $53.8m $53.8m 0.98% Reduced -244.7k -244,695
26 BENJAMIN F. EDWARDS & COMPANY, INC. 0.91% of their portfolio ST. LOUIS, MO 418,695418.7k $45.3m $45.3m 0.91% Added +414.6k +414,620
27 Smith Anglin Financial, LLC 5.01% of their portfolio DALLAS, TX 403,017403.0k $43.6m $43.6m 5.01% New
28 OSAIC HOLDINGS, INC. 0.07% of their portfolio SCOTTSDALE, AZ 385,208385.2k $41.7m $41.7m 0.07% Added +36.2k +36,196
29 RAYMOND JAMES & ASSOCIATES 0.03% of their portfolio ST PETERSBURG, FL 376,362376.4k $40.7m $40.7m 0.03% Reduced -206.2k -206,155
30 COMMONWEALTH EQUITY SERVICES, LLC 0.07% of their portfolio WALTHAM, MA 354,014354.0k $38.3m $38.3m 0.07% Added +206.7k +206,681
31 CWM, LLC 0.19% of their portfolio OMAHA, NE 332,775332.8k $36.0m $36.0m 0.19% Added +212.3k +212,308
32 Janney Montgomery Scott LLC 0.11% of their portfolio PHILADELPHIA, PA 322,482322.5k $34.9m $34.9m 0.11% Reduced -55.9k -55,935
33 Prime Capital Investment Advisors, LLC 0.51% of their portfolio OVERLAND PARK, KS 312,559312.6k $33.8m $33.8m 0.51% Added +10.8k +10,750
34 Marks Wealth, LLC 17.11% of their portfolio ELLICOTT CITY, MD 294,006294.0k $31.8m $31.8m 17.11% New
35 CAPTRUST FINANCIAL ADVISORS 0.10% of their portfolio RALEIGH, NC 278,429278.4k $30.1m $30.1m 0.10% New
36 CONFLUENCE INVESTMENT MANAGEMENT LLC 0.40% of their portfolio ST. LOUIS, MO 260,573260.6k $28.2m $28.2m 0.40% New
37 MML INVESTORS SERVICES, LLC 0.12% of their portfolio SPRINGFIELD, MA 248,860248.9k $26.9m $26.9m 0.12% Added +196.8k +196,758
38 TD PRIVATE CLIENT WEALTH LLC 0.92% of their portfolio NEW YORK, NY 236,075236.1k $25.6m $25.6m 0.92% Added +83.5k +83,506
39 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 233,362233.4k $25.3m $25.3m 0.03% Added +43.2k +43,203
40 Arrow Financial Corp 2.61% of their portfolio Glens Falls, NY 232,590232.6k $25.2m $25.2m 2.61% Added +111.8k +111,759
41 Traverso Chambers Private Wealth Management, LLC 5.57% of their portfolio SANTA ROSA, CA 211,855211.9k $22.9m $22.9m 5.57% New
42 Raymond James Financial Services Advisors, Inc. 0.03% of their portfolio ST. PETERSBURG, FL 198,836198.8k $21.5m $21.5m 0.03% Reduced -104.1k -104,111
43 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 194,519194.5k $21.2m $21.2m 0.01% Reduced -115.7k -115,691
44 TD Waterhouse Canada Inc. 0.26% of their portfolio TORONTO, A6 194,145194.1k $27.7m $27.7m 0.26% Added +3.6k +3,551
45 Thrivent Financial for Lutherans 0.04% of their portfolio Minneapolis, MN 170,066170.1k $18.4m $18.4m 0.04% Added +133.1k +133,136
46 Gradient Investments LLC 0.44% of their portfolio ARDEN HILLS, MN 166,771166.8k $18.1m $18.1m 0.44% Reduced -27.1k -27,107
47 PARK AVENUE SECURITIES LLC 0.25% of their portfolio NEW YORK, NY 164,215164.2k $17.8m $17.8m 0.25% Added +140.7k +140,659
48 Members Advisory Group LLC 10.15% of their portfolio WILLIAMSVILLE, NY 159,154159.2k $17.2m $17.2m 10.15% Added +6.6k +6,600
49 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.05% of their portfolio PLYMOUTH, MN 156,557156.6k $16.9m $16.9m 0.05% Added +28.7k +28,689
50 Cetera Investment Advisers 0.14% of their portfolio SCHAUMBURG, IL 153,700153.7k $16.6m $16.6m 0.14% Added +39.9k +39,891
51 Connectus Wealth, LLC 0.32% of their portfolio CINCINNATI, OH 146,837146.8k $15.9m $15.9m 0.32% Added +92.7k +92,689
52 Johnson Bixby & Associates, LLC 2.71% of their portfolio VANCOUVER, WA 132,607132.6k $14.4m $14.4m 2.71% Added +7.9k +7,882
53 SYON CAPITAL LLC 0.60% of their portfolio SAN FRANCISCO, CA 132,378132.4k $14.3m $14.3m 0.60% Reduced -215.5k -215,516
54 NICOLET ADVISORY SERVICES, LLC 1.43% of their portfolio GREEN BAY, WI 125,993126.0k $13.3m $13.3m 1.43% New
55 Financial Gravity Asset Management, Inc. 0.06% of their portfolio Lakeway, TX 125,579125.6k $5.1m $5.1m 0.06% Added +2.0k +2,029
56 Cambridge Investment Research Advisors, Inc. 0.06% of their portfolio FAIRFIELD, IA 123,364123.4k $13.4m $13.4m 0.06% Reduced -37.0k -36,978
57 Goelzer Investment Management, Inc. 0.82% of their portfolio CARMEL, IN 118,424118.4k $12.8m $12.8m 0.82% Added +116.3k +116,267
58 Quantitative Strategies, Inc. 7.18% of their portfolio CALABASAS, CA 109,426109.4k $11.8m $11.8m 7.18% Added +7.2k +7,187
59 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 105,781105.8k $11.5m $11.5m 0.02% Added +68.2k +68,207
60 Compton Financial Group, LLC 4.00% of their portfolio TOWSON, MD 104,447104.4k $11.3m $11.3m 4.00% New
61 Cetera Advisor Networks LLC 0.06% of their portfolio EL SEGUNDO, CA 102,872102.9k $11.1m $11.1m 0.06% Added +44.1k +44,072
62 Rockefeller Capital Management L.P. 0.04% of their portfolio NEW YORK, NY 100,427100.4k $10.9m $10.9m 0.04% Added +22.4k +22,394
63 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 97,66097.7k $10.6m $10.6m 0.00% Reduced -34.5k -34,521
64 FIRST FINANCIAL BANK - TRUST DIVISION 1.07% of their portfolio HAMILTON, OH 96,86996.9k $10.5m $10.5m 1.07% Reduced -31.8k -31,813
65 HENGEHOLD CAPITAL MANAGEMENT LLC 1.19% of their portfolio CINCINNATI, OH 92,77392.8k $10.0m $10.0m 1.19% Added +3.2k +3,184
66 Vestmark Advisory Solutions, Inc. 0.51% of their portfolio Wakefield, MA 92,35192.4k $10.0m $10.0m 0.51% Reduced -13.3k -13,349
67 Beacon Pointe Advisors, LLC 0.11% of their portfolio NEWPORT BEACH, CA 87,17087.2k $9.4m $9.4m 0.11% Added +67.9k +67,933
68 Columbia Trust Co 01012016 4.20% of their portfolio PORTLAND, OR 85,82485.8k $9.3m $9.3m 4.20% Added +51.5k +51,502
69 Trek Financial, LLC 0.78% of their portfolio Scottsdale, AZ 82,89582.9k $9.0m $9.0m 0.78% Added +6.5k +6,467
70 CAMBRIDGE TRUST CO 0.36% of their portfolio BOSTON, MA 80,40780.4k $8.7m $8.7m 0.36% Added +11.6k +11,611
71 Cetera Advisors LLC 0.11% of their portfolio DENVER, CO 76,36976.4k $8.3m $8.3m 0.11% Reduced -171.8k -171,822
72 ASSETMARK, INC 0.03% of their portfolio CONCORD, CA 74,02574.0k $8.0m $8.0m 0.03% Reduced -20.1k -20,078
73 FINANCIAL LIFE ADVISORS 3.38% of their portfolio SAN ANTONIO, TX 72,66472.7k $7.9m $7.9m 3.38% New
74 Benedetti & Gucer, Inc. 3.98% of their portfolio ATLANTA, GA 70,12970.1k $7.6m $7.6m 3.98% Added +10.3k +10,320
75 Atria Investments, Inc 0.12% of their portfolio Charlotte, NC 70,11570.1k $7.6m $7.6m 0.12% Added +12.9k +12,857
76 EWA, LLC 3.50% of their portfolio PITTSBURGH, PA 67,46467.5k $7.2m $7.2m 3.50% New
77 OneDigital Investment Advisors LLC 0.12% of their portfolio OVERLAND PARK, KS 65,43365.4k $7.1m $7.1m 0.12% Added +17.9k +17,879
78 IHT Wealth Management, LLC 0.31% of their portfolio Chicago, IL 65,22165.2k $7.1m $7.1m 0.31% New
79 Royal Harbor Partners, LLC 3.25% of their portfolio HOUSTON, TX 64,55664.6k $7.0m $7.0m 3.25% Added +4.2k +4,208
80 REGATTA CAPITAL GROUP, LLC 1.80% of their portfolio EL SEGUNDO, CA 63,10363.1k $6.8m $6.8m 1.80% New
81 PRINCIPAL SECURITIES, INC. 0.25% of their portfolio DES MOINES, IA 61,37661.4k $6.6m $6.6m 0.25% First filing
82 Mutual Advisors, LLC 0.23% of their portfolio OMAHA, NE 60,73960.7k $6.6m $6.6m 0.23% Added +55.1k +55,131
83 TRANSCEND CAPITAL ADVISORS, LLC 0.58% of their portfolio MADISON, NJ 60,35960.4k $6.5m $6.5m 0.58% Reduced -36.3k -36,276
84 ARVEST INVESTMENTS, INC. 1.05% of their portfolio LOWELL, AR 59,56959.6k $6.4m $6.4m 1.05% First filing
85 SCOTIA CAPITAL INC. 0.04% of their portfolio TORONTO, A6 59,37059.4k $6.4m $6.4m 0.04% Added +1.8k +1,783
86 FOCUS FINANCIAL NETWORK INC /ADV 0.24% of their portfolio Minneapolis, MN 58,19358.2k $6.3m $6.3m 0.24% First filing
87 DAYMARK WEALTH PARTNERS, LLC 0.37% of their portfolio CINCINNATI, OH 56,17056.2k $6.1m $6.1m 0.37% Reduced -5.7k -5,678
88 Private Advisor Group, LLC 0.05% of their portfolio MORRISTOWN, NJ 55,85155.9k $6.0m $6.0m 0.05% Reduced -12.1k -12,142
89 Krilogy Financial LLC 0.51% of their portfolio ST. LOUIS, MO 54,83454.8k $5.9m $5.9m 0.51% Reduced -17.2k -17,172
90 Harvest Portfolios Group Inc. 0.25% of their portfolio Oakville, A6 53,72453.7k $5.8m $5.8m 0.25% Added +50.3k +50,324
91 Steward Partners Investment Advisory, LLC 0.08% of their portfolio STAMFORD, CT 52,15152.2k $5.6m $5.6m 0.08% Added +40.1k +40,116
92 TRUSTMARK BANK TRUST DEPARTMENT 0.51% of their portfolio JACKSON, MS 51,73451.7k $5.6m $5.6m 0.51% New
93 Atria Wealth Solutions, Inc. 0.07% of their portfolio NEW YORK, NY 49,34549.3k $5.3m $5.3m 0.07% Added +39.4k +39,380
94 KEYBANK NATIONAL ASSOCIATION/OH 0.02% of their portfolio BROOKLYN, OH 48,94348.9k $5.3m $5.3m 0.02% Added +41.4k +41,396
95 Affinity Capital Advisors, LLC 1.29% of their portfolio BERKELEY, CA 48,85648.9k $5.3m $5.3m 1.29% Added +43.4k +43,363
96 Eagle Strategies LLC 1.13% of their portfolio NEW YORK, NY 48,65948.7k $5.3m $5.3m 1.13% New
97 Cresta Advisors, Ltd. 3.39% of their portfolio LAREDO, TX 47,01747.0k $5.1m $5.1m 3.39% Added +1.8k +1,750
98 COMERICA BANK 0.02% of their portfolio DALLAS, TX 45,63145.6k $4.9m $4.9m 0.02% Added +15.2k +15,228
99 Icon Wealth Advisors, LLC 0.51% of their portfolio HOUSTON, TX 45,58145.6k $4.9m $4.9m 0.51% First filing
100 BEAM WEALTH ADVISORS, INC. 3.09% of their portfolio COVINGTON, LA 45,06145.1k $4.9m $4.9m 3.09% Reduced -3.3k -3,319