Vault-13

ISHARES TR IEI

3 7 YR TREAS BD · ETP · CUSIP 464288661

775 institutional holders -2 vs Q1 2025
107,231,916107.2m shares reported held*
$12.9bnreported value*
76 new 278 added 299 reduced 78 sold out net sold ≈ $65.2m (-2.9m 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 ($26.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $120.17. Options: 7 managers hold calls ($127.9m notional), 5 hold puts ($103.8m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 545Q4 22: 574Q1 23: 585Q2 23: 611Q3 23: 598Q4 23: 667Q1 24: 671Q2 24: 673Q3 24: 729Q4 24: 738Q1 25: 777Q2 25: 775775Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022545
Q4 2022574
Q1 2023585
Q2 2023611
Q3 2023598
Q4 2023667
Q1 2024671
Q2 2024673
Q3 2024729
Q4 2024738
Q1 2025777
Q2 2025775

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q3 23: 258 bought or addedQ3 23: 307 cut or sold outQ4 23: 319 bought or addedQ4 23: 301 cut or sold outQ4 23Q1 24: 311 bought or addedQ1 24: 323 cut or sold outQ2 24: 329 bought or addedQ2 24: 304 cut or sold outQ2 24Q3 24: 397 bought or addedQ3 24: 274 cut or sold outQ4 24: 345 bought or addedQ4 24: 316 cut or sold outQ4 24Q1 25: 406 bought or addedQ1 25: 301 cut or sold outQ2 25: 354 bought or addedQ2 25: 377 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023258307
Q4 2023319301
Q1 2024311323
Q2 2024329304
Q3 2024397274
Q4 2024345316
Q1 2025406301
Q2 2025354377

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 24 calls: $20.5mQ3 24 puts: $6.6mQ3 24P/C 0.32Q4 24 calls: $135.1mQ4 24 puts: $61.0mQ4 24P/C 0.45Q1 25 calls: $276.4mQ1 25 puts: $78.6mQ1 25P/C 0.28Q2 25 calls: $127.9mQ2 25 puts: $103.8mQ2 25P/C 0.81
Numbers
QuarterCallsPutsP/C
Q3 2024$20.5m$6.6m0.32
Q4 2024$135.1m$61.0m0.45
Q1 2025$276.4m$78.6m0.28
Q2 2025$127.9m$103.8m0.81

Biggest buyers

ROYAL BANK OF CANADA Added +904,319+904.3k
STIFEL FINANCIAL CORP Added +635,597+635.6k
ARMSTRONG ADVISORY GROUP, INC Added +551,950+552.0k
UBS Group AG Added +485,955+486.0k
BENJAMIN EDWARDS INC Added +475,718+475.7k
SCHOOL EMPLOYEES RETIREMENT BOARD OF OHIO New +420,470+420.5k
Rockefeller Capital Management L.P. Added +399,548+399.5k
GOLDMAN SACHS GROUP INC Added +365,478+365.5k
AMERIPRISE FINANCIAL INC Added +290,112+290.1k
Silicon Valley Capital Partners New +286,330+286.3k

Biggest sellers

WIT, LLC Reduced -2,330,696-2.3m
Invesco Ltd. Reduced -2,105,800-2.1m
NATIONAL BANK OF CANADA /FI/ Reduced -1,790,412-1.8m
BANK OF AMERICA CORP /DE/ Reduced -936,303-936.3k
Cerity Partners LLC Reduced -530,341-530.3k
ENVESTNET ASSET MANAGEMENT INC Reduced -382,774-382.8k
TRUIST FINANCIAL CORP Reduced -345,583-345.6k
Janney Montgomery Scott LLC Reduced -241,633-241.6k
CSM Advisors, LLC Reduced -223,800-223.8k
Atlas Merchant Capital LLC Sold out -222,222-222.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $38.0m318.8k shares
MILLENNIUM MANAGEMENT LLC Reduced $29.8m250.0k shares
BARCLAYS PLC Unchanged $23.8m200.0k shares
WELLS FARGO & COMPANY/MN Reduced $17.9m150.0k shares
BANK OF AMERICA CORP /DE/ Reduced $10.7m90.0k shares
CITADEL ADVISORS LLC Reduced $7.0m58.4k shares
JANE STREET GROUP, LLC Reduced $786.0k6.6k shares

Biggest puts

MILLENNIUM MANAGEMENT LLC Added $72.6m610.0k shares
WELLS FARGO & COMPANY/MN Added $11.9m100.0k shares
CITADEL ADVISORS LLC Added $9.2m77.6k shares
BARCLAYS PLC New $8.9m75.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.0m8.6k 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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.10% of their portfolio NEW YORK, NY 11,989,61812.0m $1.4bn $1.4bn 0.10% Reduced -128.7k -128,691
2 BANK OF AMERICA CORP /DE/ 0.07% of their portfolio CHARLOTTE, NC 6,793,0316.8m $809.0m $809.0m 0.07% Reduced -936.3k -936,303
3 Invesco Ltd. 0.09% of their portfolio ATLANTA, GA 4,292,1004.3m $511.1m $511.1m 0.09% Reduced -2.1m -2,105,800
4 Financial Engines Advisors L.L.C. 0.95% of their portfolio SANTA CLARA, CA 4,017,3154.0m $478.4m $478.4m 0.95% Reduced -84.2k -84,211
5 CAPTRUST FINANCIAL ADVISORS 0.97% of their portfolio RALEIGH, NC 3,650,6883.7m $434.8m $434.8m 0.97% Added +142.1k +142,100
6 ENVESTNET ASSET MANAGEMENT INC 0.12% of their portfolio Berwyn, PA 3,364,9733.4m $400.7m $400.7m 0.12% Reduced -382.8k -382,774
7 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 3,034,6843.0m $361.4m $361.4m 0.02% Reduced -130.4k -130,444
8 AMERIPRISE FINANCIAL INC 0.08% of their portfolio MINNEAPOLIS, MN 2,741,6892.7m $327.1m $327.1m 0.08% Added +290.1k +290,112
9 ASSETMARK, INC 0.72% of their portfolio CONCORD, CA 2,546,3612.5m $303.2m $303.2m 0.72% Added +250.2k +250,180
10 WIT, LLC 7.30% of their portfolio DISTRICT OF COLUMBIA, DC 2,471,8522.5m $294.4m $294.4m 7.30% Reduced -2.3m -2,330,696
11 Bank Julius Baer & Co. Ltd, Zurich 0.87% of their portfolio ZURICH, V8 2,450,1412.5m $291.8m $291.8m 0.87% Added +29.0k +28,974
12 UBS Group AG 0.05% of their portfolio ZURICH, V8 2,191,4982.2m $261.0m $261.0m 0.05% Added +486.0k +485,955
13 STIFEL FINANCIAL CORP 0.25% of their portfolio ST. LOUIS, MO 2,170,0652.2m $258.4m $258.4m 0.25% Added +635.6k +635,597
14 WELLS FARGO & COMPANY/MN 0.06% of their portfolio SAN FRANCISCO, CA 2,104,6682.1m $250.6m $250.6m 0.06% Added +28.0k +27,986
15 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,938,9821.9m $230.9m $230.9m 0.02% Added +904.3k +904,319
16 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 1,874,3741.9m $223.2m $223.2m 0.07% Reduced -19.2k -19,165
17 TRUIST FINANCIAL CORP 0.33% of their portfolio CHARLOTTE, NC 1,874,1511.9m $223.2m $223.2m 0.33% Reduced -345.6k -345,583
18 Cerity Partners LLC 0.38% of their portfolio NEW YORK, NY 1,799,5161.8m $214.3m $214.3m 0.38% Reduced -530.3k -530,341
19 Janney Montgomery Scott LLC 0.49% of their portfolio PHILADELPHIA, PA 1,570,0321.6m $187.0m $187.0m 0.49% Reduced -241.6k -241,633
20 Creative Planning 0.15% of their portfolio OVERLAND PARK, KS 1,438,2721.4m $171.3m $171.3m 0.15% Reduced -105.4k -105,391
21 RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio ST. PETERSBURG, FL 1,295,6551.3m $154.3m $154.3m 0.05% Reduced -87.5k -87,537
22 Tanglewood Wealth Management, Inc. 12.39% of their portfolio HOUSTON, TX 1,055,5211.1m $125.7m $125.7m 12.39% Reduced -5.2k -5,175
23 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 1,045,0011.0m $124.4m $124.4m 0.02% Reduced -17.0k -16,969
24 FMR LLC 0.01% of their portfolio BOSTON, MA 1,019,2661.0m $121.4m $121.4m 0.01% Reduced -92.3k -92,261
25 WestEnd Advisors, LLC 3.00% of their portfolio CHARLOTTE, NC 1,015,6431.0m $121.0m $121.0m 3.00% Reduced -122.8k -122,784
26 HUNTINGTON NATIONAL BANK 0.74% of their portfolio COLUMBUS, OH 952,529952.5k $113.4m $113.4m 0.74% Added +32.4k +32,433
27 ARMSTRONG ADVISORY GROUP, INC 8.50% of their portfolio NEEDHAM, MA 942,234942.2k $112.2m $112.2m 8.50% Added +552.0k +551,950
28 BlackRock, Inc. 0.00% of their portfolio New York, NY 833,249833.2k $99.2m $99.2m 0.00% Added +277.3k +277,270
29 Facet Wealth, Inc. 2.11% of their portfolio WEST PALM BEACH, FL 785,125785.1k $92.9m $92.9m 2.11% Added +78.2k +78,176
30 Focus Partners Wealth 0.19% of their portfolio ST LOUIS, MO 749,983750.0k $89.3m $89.3m 0.19% Added +10.8k +10,777
31 Cetera Investment Advisers 0.13% of their portfolio SCHAUMBURG, IL 645,780645.8k $76.9m $76.9m 0.13% Added +100.6k +100,552
32 EVERGREEN CAPITAL MANAGEMENT LLC 2.29% of their portfolio Bellevue, WA 638,391638.4k $76.0m $76.0m 2.29% Added +103.2k +103,230
33 BENJAMIN EDWARDS INC 0.90% of their portfolio Clayton, MO 594,833594.8k $70.8m $70.8m 0.90% Added +475.7k +475,718
34 Strategic Point Investment Advisors, LLC 10.74% of their portfolio PROVIDENCE, RI 584,631584.6k $69.6m $69.6m 10.74% Added +3.7k +3,656
35 NorthCoast Asset Management LLC 0.30% of their portfolio STAMFORD, CT 582,634582.6k $69.4m $69.4m 0.30% Added +108.8k +108,795
36 Clarity Financial LLC 7.44% of their portfolio Houston, TX 580,450580.5k $69.1m $69.1m 7.44% Added +5.8k +5,759
37 Bluespring Wealth Management, LLC 6.51% of their portfolio AUSTIN, TX 574,743574.7k $68.4m $68.4m 6.51% Added +14.8k +14,829
38 PNC Financial Services Group, Inc. 0.04% of their portfolio Pittsburgh, PA 556,559556.6k $66.3m $66.3m 0.04% Reduced -6.7k -6,736
39 Johnson Financial Group, Inc. 2.96% of their portfolio RACINE, WI 551,610551.6k $65.7m $65.7m 2.96% Reduced -7.7k -7,650
40 OSAIC HOLDINGS, INC. 0.11% of their portfolio SCOTTSDALE, AZ 499,867499.9k $59.4m $59.4m 0.11% Added +243.9k +243,928
41 SAGESPRING WEALTH PARTNERS, LLC 1.24% of their portfolio FRANKLIN, TN 482,864482.9k $57.5m $57.5m 1.24% Added +240.8k +240,797
42 Mariner, LLC 0.08% of their portfolio Overland Park, KS 480,148480.1k $57.2m $57.2m 0.08% Added +7.6k +7,590
43 Waverly Advisors, LLC 0.60% of their portfolio BIRMINGHAM, AL 461,771461.8k $55.0m $55.0m 0.60% Reduced -8.0k -8,003
44 Curi Capital, LLC 1.04% of their portfolio CHICAGO, IL 460,446460.4k $54.8m $54.8m 1.04% Added +7.6k +7,608
45 Rockefeller Capital Management L.P. 0.06% of their portfolio NEW YORK, NY 454,704454.7k $54.2m $54.2m 0.06% Added +399.5k +399,548
46 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 421,100421.1k $50.1m $50.1m 0.01% Added +365.5k +365,478
47 SCHOOL EMPLOYEES RETIREMENT BOARD OF OHIO 28.62% of their portfolio COLUMBUS, OH 420,470420.5k $50.1m $50.1m 28.62% New
48 CANTOR FITZGERALD INVESTMENT ADVISORS L.P. 3.53% of their portfolio NEW YORK, NY 419,902419.9k $50.0m $50.0m 3.53% Reduced -22.2k -22,222
49 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 409,756409.8k $48.8m $48.8m 0.03% Reduced -28.0k -27,985
50 KEYBANK NATIONAL ASSOCIATION/OH 0.17% of their portfolio BROOKLYN, OH 382,772382.8k $45.6m $45.6m 0.17% Added +1.0k +1,039
51 TD PRIVATE CLIENT WEALTH LLC 1.04% of their portfolio NEW YORK, NY 354,984355.0k $42.3m $42.3m 1.04% Reduced -9.6k -9,614
52 DDFG, Inc 10.09% of their portfolio THOUSAND OAKS, CA 336,881336.9k $40.1m $40.1m 10.09% Added +4.3k +4,349
53 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 318,770318.8k $38.0m $38.0m 0.01% Added +17.2k +17,174
54 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 308,477308.5k $36.7m $36.7m 0.01% Reduced -10.1k -10,083
55 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 297,995298.0k $35.5m $35.5m 0.05% Reduced -93 -93
56 SkyView Investment Advisors, LLC 5.04% of their portfolio SHREWSBURY, NJ 295,867295.9k $35.2m $35.2m 5.04% Reduced -857 -857
57 OneDigital Investment Advisors LLC 0.39% of their portfolio OVERLAND PARK, KS 291,717291.7k $34.7m $34.7m 0.39% Added +4.8k +4,793
58 Silicon Valley Capital Partners 3.56% of their portfolio SAN JOSE, CA 286,330286.3k $34.1m $34.1m 3.56% New
59 Dynasty Wealth Management, LLC 0.55% of their portfolio ST. PETERSBURG, FL 268,623268.6k $32.0m $32.0m 0.55% Reduced -4.3k -4,337
60 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.28% of their portfolio Madrid, U3 257,518257.5k $30.6m $30.6m 0.28% Added +24.6k +24,639
61 CONFLUENCE INVESTMENT MANAGEMENT LLC 0.42% of their portfolio ST. LOUIS, MO 249,390249.4k $29.7m $29.7m 0.42% Added +202.2k +202,177
62 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.05% of their portfolio PLYMOUTH, MN 240,942240.9k $28.5m $28.5m 0.05% Reduced -21.0k -20,998
63 Klaas Financial Asset Advisors, LLC 4.53% of their portfolio LOVES PARK, IL 240,418240.4k $28.6m $28.6m 4.53% Added +3.6k +3,591
64 Willis Johnson & Associates, Inc. 1.93% of their portfolio Houston, TX 238,207238.2k $28.4m $28.4m 1.93% Added +11.0k +10,960
65 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 233,650233.7k $27.8m $27.8m 0.02% Added +3.4k +3,385
66 CSM Advisors, LLC 0.80% of their portfolio WARRENDALE, PA 229,600229.6k $27.3m $27.3m 0.80% Reduced -223.8k -223,800
67 CABOT WEALTH MANAGEMENT INC 3.19% of their portfolio BEVERLY, MA 225,420225.4k $26.8m $26.8m 3.19% Reduced -25.9k -25,858
68 Banco Santander, S.A. 0.24% of their portfolio Madrid, U3 214,952215.0k $25.6m $25.6m 0.24% Reduced -9.0k -8,977
69 Cambridge Investment Research Advisors, Inc. 0.08% of their portfolio FAIRFIELD, IA 214,645214.6k $25.6m $25.6m 0.08% Added +45.1k +45,118
70 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 213,772213.8k $25.5m $25.5m 0.03% Reduced -9.5k -9,539
71 New Harbor Financial Group, LLC 5.79% of their portfolio WORCESTER, MA 211,969212.0k $25.2m $25.2m 5.79% Added +1.3k +1,313
72 US BANCORP \DE\ 0.03% of their portfolio MINNEAPOLIS, MN 210,867210.9k $25.1m $25.1m 0.03% Added +657 +657
73 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.17% of their portfolio Stamford, CT 205,980206.0k $24.5m $24.5m 0.17% Added +67.4k +67,413
74 ANCHOR CAPITAL ADVISORS LLC 0.70% of their portfolio Boston, MA 200,721200.7k $23.9m $23.9m 0.70% Reduced -6.1k -6,128
75 Allianz Asset Management GmbH 0.03% of their portfolio MUNICH, 2M 200,300200.3k $23.9m $23.9m 0.03% Added +46.1k +46,100
76 MBL Wealth, LLC 2.28% of their portfolio CHARLOTTE, NC 200,198200.2k $23.8m $23.8m 2.28% Reduced -8.2k -8,189
77 Strategic Wealth Partners, Ltd. 1.84% of their portfolio INDEPENDENCE, OH 196,200196.2k $23.4m $23.4m 1.84% First filing
78 Hoese & Co LLP 18.37% of their portfolio GLENCOE, MN 191,208191.2k $22.8m $22.8m 18.37% Added +2.3k +2,299
79 Robertson Stephens Wealth Management, LLC 0.79% of their portfolio San Francisco, CA 190,365190.4k $22.7m $22.7m 0.79% Added +159.8k +159,805
80 AmeriServ Wealth Advisors 11.07% of their portfolio Johnstown, PA 188,066188.1k $22.4m $22.4m 11.07% Added +24.2k +24,182
81 HANTZ FINANCIAL SERVICES, INC. 0.35% of their portfolio SOUTHFIELD, MI 183,927183.9k $21.9m $21.9m 0.35% Added +182.4k +182,397
82 Lido Advisors, LLC 0.11% of their portfolio Los Angeles, CA 178,606178.6k $21.3m $21.3m 0.11% Reduced -58.9k -58,915
83 Beacon Bank & Trust 4.73% of their portfolio Boston, MA 173,863173.9k $20.7m $20.7m 4.73% Added +8.3k +8,349
84 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 170,767170.8k $20.3m $20.3m 0.06% Reduced -2.1k -2,142
85 Capitolis Liquid Global Markets LLC 0.14% of their portfolio NEW YORK, NY 162,700162.7k $19.4m $19.4m 0.14% Reduced -103.2k -103,200
86 Orion Porfolio Solutions, LLC 0.16% of their portfolio OMAHA, NE 159,832159.8k $19.0m $19.0m 0.16% Reduced -18.0k -17,959
87 JMAC ENTERPRISES LLC 4.04% of their portfolio NEWTOWN, PA 158,584158.6k $18.9m $18.9m 4.04% Added +36.9k +36,943
88 Vectors Research Management, LLC 6.42% of their portfolio New York, NY 157,267157.3k $18.7m $18.7m 6.42% Added +55.0k +55,008
89 Blueprint Investment Partners LLC 3.29% of their portfolio GREENSBORO, NC 155,725155.7k $18.5m $18.5m 3.29% Added +94.3k +94,278
90 AE Wealth Management LLC 0.13% of their portfolio TOPEKA, KS 154,177154.2k $18.4m $18.4m 0.13% Reduced -15.6k -15,594
91 NewEdge Advisors, LLC 0.09% of their portfolio NEW ORLEANS, LA 152,419152.4k $18.2m $18.2m 0.09% Added +34.5k +34,543
92 Gunma Bank,Ltd. 5.83% of their portfolio GUNMA, M0 150,000150.0k $17.9m $17.9m 5.83% Unchanged
93 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.30% of their portfolio MINNEAPOLIS, MN 148,667148.7k $17.7m $17.7m 0.30% Reduced -27.2k -27,198
94 FIRST AMERICAN TRUST, FSB 1.40% of their portfolio SANTA ANA, CA 147,148147.1k $17.5m $17.5m 1.40% Added +41.1k +41,092
95 RWA WEALTH PARTNERS, LLC 0.22% of their portfolio BOSTON, MA 146,825146.8k $17.5m $17.5m 0.22% Reduced -48.9k -48,859
96 Capital Investment Services of America, Inc. 1.57% of their portfolio MILWAUKEE, WI 144,347144.3k $17.2m $17.2m 1.57% Reduced -170 -170
97 Mirabaud & Cie SA 5.42% of their portfolio GENEVA, V8 142,971143.0k $17.0m $17.0m 5.42% Added +11.0k +11,045
98 1832 Asset Management L.P. 0.03% of their portfolio TORONTO, A6 141,072141.1k $16.8m $16.8m 0.03% Reduced -109 -109
99 COURIER CAPITAL LLC 1.01% of their portfolio BUFFALO, NY 139,058139.1k $16.6m $16.6m 1.01% Added +49.6k +49,569
100 Haverford Trust Co 0.16% of their portfolio Radnor, PA 138,997139.0k $16.6m $16.6m 0.16% Reduced -408 -408