Vault-13

ISHARES TR IEI

3 7 YR TREAS BD · ETP · CUSIP 464288661

852 institutional holders +70 vs Q3 2025
122,180,195122.2m shares reported held*
$14.7bnreported value*
71 new 358 added 228 reduced 53 sold out net sold ≈ $1.7bn (-13.8m 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 ($42.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $120.00. Options: 4 managers hold calls ($15.1m notional), 3 hold puts ($15.9m).

Trends to Q4 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: 775Q3 25: 782Q4 25: 852852Q3 22Q2 23Q1 24Q4 24Q4 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
Q3 2025782
Q4 2025852

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q1 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 25Q3 25: 427 bought or addedQ3 25: 286 cut or sold outQ4 25: 429 bought or addedQ4 25: 281 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024311323
Q2 2024329304
Q3 2024397274
Q4 2024345316
Q1 2025406301
Q2 2025354377
Q3 2025427286
Q4 2025429281

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ1 25 calls: $276.4mQ1 25 puts: $78.6mQ1 25P/C 0.28Q2 25 calls: $127.9mQ2 25 puts: $103.8mQ2 25P/C 0.81Q3 25 calls: $109.7mQ3 25 puts: $111.4mQ3 25P/C 1.02Q4 25 calls: $15.1mQ4 25 puts: $15.9mQ4 25P/C 1.05
Numbers
QuarterCallsPutsP/C
Q1 2025$276.4m$78.6m0.28
Q2 2025$127.9m$103.8m0.81
Q3 2025$109.7m$111.4m1.02
Q4 2025$15.1m$15.9m1.05

Biggest buyers

Dynasty Wealth Management, LLC Added +577,371+577.4k
Corient Private Wealth LP Added +504,480+504.5k
Tanglewood Wealth Management, Inc. Added +434,416+434.4k
AlphaQuest LLC Added +349,637+349.6k
CAPTRUST FINANCIAL ADVISORS Added +281,282+281.3k
Blueprint Investment Partners LLC Added +256,185+256.2k
LPL Financial LLC Added +250,345+250.3k
WCG Wealth Advisors LLC Added +242,303+242.3k
ENVESTNET ASSET MANAGEMENT INC Added +197,656+197.7k
ASSETMARK, INC Added +190,019+190.0k

Biggest sellers

JPMORGAN CHASE & CO Reduced -15,332,625-15.3m
BlackRock, Inc. Reduced -1,806,075-1.8m
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Reduced -759,915-759.9k
BANK OF AMERICA CORP /DE/ Reduced -423,081-423.1k
OSAIC HOLDINGS, INC. Reduced -381,702-381.7k
NorthCoast Asset Management LLC Reduced -212,525-212.5k
SCHOOL EMPLOYEES RETIREMENT BOARD OF OHIO Reduced -210,715-210.7k
MORGAN STANLEY Reduced -209,632-209.6k
BNP PARIBAS FINANCIAL MARKETS Reduced -189,550-189.6k
FLOW TRADERS U.S. LLC Sold out -160,688-160.7k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $9.3m78.3k shares
JANE STREET GROUP, LLC Added $3.5m29.1k shares
CITADEL ADVISORS LLC Added $2.3m19.1k shares
Cetera Investment Advisers New $2.3k2.0k shares

Biggest puts

Walleye Trading LLC Added $12.8m107.4k shares
CITADEL ADVISORS LLC Reduced $2.1m17.7k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $978.7k8.2k 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.14% of their portfolio NEW YORK, NY 17,694,41717.7m $2.1bn $2.1bn 0.14% Reduced -15.3m -15,332,625
2 BANK OF AMERICA CORP /DE/ 0.06% of their portfolio CHARLOTTE, NC 6,614,7246.6m $789.5m $789.5m 0.06% Reduced -423.1k -423,081
3 CAPTRUST FINANCIAL ADVISORS 1.34% of their portfolio RALEIGH, NC 5,924,6035.9m $707.1m $707.1m 1.34% Added +281.3k +281,282
4 Invesco Ltd. 0.05% of their portfolio ATLANTA, GA 4,292,1004.3m $512.3m $512.3m 0.05% Unchanged
5 Financial Engines Advisors L.L.C. 0.97% of their portfolio SANTA CLARA, CA 4,287,9134.3m $511.8m $511.8m 0.97% Added +33.9k +33,946
6 ENVESTNET ASSET MANAGEMENT INC 0.14% of their portfolio Berwyn, PA 3,874,2423.9m $462.4m $462.4m 0.14% Added +197.7k +197,656
7 ASSETMARK, INC 0.74% of their portfolio CONCORD, CA 3,052,0283.1m $364.3m $364.3m 0.74% Added +190.0k +190,019
8 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 2,784,2562.8m $332.3m $332.3m 0.02% Reduced -209.6k -209,632
9 AMERIPRISE FINANCIAL INC 0.07% of their portfolio MINNEAPOLIS, MN 2,726,1352.7m $325.2m $325.2m 0.07% Added +6.3k +6,340
10 Bank Julius Baer & Co. Ltd, Zurich 0.88% of their portfolio ZURICH, V8 2,679,7332.7m $319.8m $319.8m 0.88% Added +162.9k +162,897
11 LPL Financial LLC 0.08% of their portfolio FORT MILL, SC 2,454,2992.5m $292.9m $292.9m 0.08% Added +250.3k +250,345
12 UBS Group AG 0.05% of their portfolio ZURICH, V8 2,271,7642.3m $271.1m $271.1m 0.05% Added +171.5k +171,507
13 STIFEL FINANCIAL CORP 0.23% of their portfolio ST. LOUIS, MO 2,175,9972.2m $259.7m $259.7m 0.23% Added +139.3k +139,251
14 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 2,095,5062.1m $250.1m $250.1m 0.05% Added +55.9k +55,915
15 WIT, LLC 5.00% of their portfolio DISTRICT OF COLUMBIA, DC 2,089,0702.1m $249.3m $249.3m 5.00% Added +59.4k +59,373
16 TRUIST FINANCIAL CORP 0.31% of their portfolio CHARLOTTE, NC 1,968,6232.0m $235.0m $235.0m 0.31% Added +32.3k +32,316
17 Cerity Partners LLC 0.34% of their portfolio NEW YORK, NY 1,954,6582.0m $233.3m $233.3m 0.34% Added +108.2k +108,210
18 Janney Montgomery Scott LLC 0.52% of their portfolio PHILADELPHIA, PA 1,885,9171.9m $225.1m $225.1m 0.52% Added +99.2k +99,191
19 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,618,0521.6m $193.1m $193.1m 0.00% Reduced -1.8m -1,806,075
20 RAYMOND JAMES FINANCIAL INC 0.06% of their portfolio ST. PETERSBURG, FL 1,523,8501.5m $181.9m $181.9m 0.06% Added +67.8k +67,822
21 Tanglewood Wealth Management, Inc. 16.20% of their portfolio HOUSTON, TX 1,480,3661.5m $176.7m $176.7m 16.20% Added +434.4k +434,416
22 Clarity Financial LLC 14.99% of their portfolio Houston, TX 1,358,2631.4m $162.1m $162.1m 14.99% Added +41.9k +41,882
23 Creative Planning 0.11% of their portfolio OVERLAND PARK, KS 1,246,5711.2m $148.8m $148.8m 0.11% Reduced -131.9k -131,867
24 WestEnd Advisors, LLC 3.26% of their portfolio CHARLOTTE, NC 1,173,0421.2m $140.0m $140.0m 3.26% Added +17.6k +17,576
25 Dynasty Wealth Management, LLC 1.37% of their portfolio ST. PETERSBURG, FL 1,170,4971.2m $139.7m $139.7m 1.37% Added +577.4k +577,371
26 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,107,9041.1m $132.2m $132.2m 0.02% Added +69.5k +69,480
27 HUNTINGTON NATIONAL BANK 0.77% of their portfolio COLUMBUS, OH 1,080,2011.1m $128.9m $128.9m 0.77% Added +76.0k +75,991
28 ARMSTRONG ADVISORY GROUP, INC 7.97% of their portfolio NEEDHAM, MA 988,397988.4k $118.0m $118.0m 7.97% Added +30.8k +30,837
29 Facet Wealth, Inc. 2.04% of their portfolio WEST PALM BEACH, FL 966,634966.6k $115.2m $115.2m 2.04% Added +134.4k +134,384
30 Focus Partners Wealth 0.13% of their portfolio ST LOUIS, MO 939,394939.4k $112.1m $112.1m 0.13% Added +144.2k +144,183
31 FMR LLC 0.01% of their portfolio BOSTON, MA 875,183875.2k $104.5m $104.5m 0.01% Reduced -73.3k -73,288
32 Cetera Investment Advisers 0.10% of their portfolio SCHAUMBURG, IL 800,799800.8k $95.6m $95.6m 0.10% Added +38.5k +38,469
33 EVERGREEN CAPITAL MANAGEMENT LLC 2.00% of their portfolio Bellevue, WA 748,901748.9k $89.4m $89.4m 2.00% Reduced -21.7k -21,684
34 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.05% of their portfolio MILWAUKEE, WI 708,226708.2k $84.5m $84.5m 0.05% Reduced -30.8k -30,784
35 PNC Financial Services Group, Inc. 0.04% of their portfolio Pittsburgh, PA 644,190644.2k $76.9m $76.9m 0.04% Added +75.5k +75,536
36 Strategic Point Investment Advisors, LLC 10.15% of their portfolio PROVIDENCE, RI 614,843614.8k $73.4m $73.4m 10.15% Added +20.0k +20,002
37 Bluespring Wealth Management, LLC 6.14% of their portfolio AUSTIN, TX 597,724597.7k $71.3m $71.3m 6.14% Reduced -4.8k -4,826
38 Johnson Financial Group, Inc. 2.66% of their portfolio RACINE, WI 594,344594.3k $70.9m $70.9m 2.66% Added +955 +955
39 OpenArc Corporate Advisory, LLC 1.11% of their portfolio ATLANTA, GA 562,536562.5k $67.1m $67.1m 1.11% First filing
40 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 547,827547.8k $14.0m $14.0m 0.01% Added +504.5k +504,480
41 Mariner, LLC 0.07% of their portfolio Overland Park, KS 494,907494.9k $59.1m $59.1m 0.07% Added +11.9k +11,925
42 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.40% of their portfolio Madrid, U3 480,586480.6k $57.5m $57.5m 0.40% Added +175.4k +175,388
43 SAGESPRING WEALTH PARTNERS, LLC 1.02% of their portfolio FRANKLIN, TN 468,630468.6k $55.9m $55.9m 1.02% Reduced -41.8k -41,809
44 Waverly Advisors, LLC 0.45% of their portfolio BIRMINGHAM, AL 466,164466.2k $55.6m $55.6m 0.45% Added +6.7k +6,746
45 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 464,017464.0k $55.4m $55.4m 0.03% Added +188 +188
46 CANTOR FITZGERALD INVESTMENT ADVISORS L.P. 3.95% of their portfolio NEW YORK, NY 447,159447.2k $53.4m $53.4m 3.95% Added +14.4k +14,409
47 Blueprint Investment Partners LLC 5.50% of their portfolio GREENSBORO, NC 430,835430.8k $51.4m $51.4m 5.50% Added +256.2k +256,185
48 TD PRIVATE CLIENT WEALTH LLC 1.05% of their portfolio NEW YORK, NY 413,848413.8k $49.4m $49.4m 1.05% Added +3.9k +3,904
49 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 413,028413.0k $49.3m $49.3m 0.01% Added +46.2k +46,163
50 AlphaQuest LLC 2.70% of their portfolio New York, NY 403,902403.9k $48.2m $48.2m 2.70% Added +349.6k +349,637
51 Curi Capital, LLC 0.83% of their portfolio CHICAGO, IL 399,700399.7k $47.7m $47.7m 0.83% Reduced -10.3k -10,280
52 KEYBANK NATIONAL ASSOCIATION/OH 0.17% of their portfolio BROOKLYN, OH 396,641396.6k $47.3m $47.3m 0.17% Added +3.9k +3,906
53 Allspring Global Investments Holdings, LLC 0.07% of their portfolio CHARLOTTE, NC 370,001370.0k $44.2m $44.2m 0.07% Added +156.9k +156,937
54 WCG Wealth Advisors LLC 1.21% of their portfolio LAS VEGAS, NV 360,984361.0k $43.1m $43.1m 1.21% Added +242.3k +242,303
55 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 359,794359.8k $42.9m $42.9m 0.01% Added +17.0k +17,023
56 DDFG, Inc 9.33% of their portfolio THOUSAND OAKS, CA 357,253357.3k $42.6m $42.6m 9.33% Added +9.3k +9,298
57 BENJAMIN EDWARDS INC 0.43% of their portfolio Clayton, MO 328,470328.5k $39.2m $39.2m 0.43% Added +49.0k +48,956
58 Silicon Valley Capital Partners 3.56% of their portfolio SAN JOSE, CA 327,652327.7k $39.1m $39.1m 3.56% Added +14.6k +14,646
59 Willis Johnson & Associates, Inc. 2.24% of their portfolio Houston, TX 304,433304.4k $36.3m $36.3m 2.24% Added +45.2k +45,225
60 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 296,284296.3k $35.4m $35.4m 0.05% Reduced -381.7k -381,702
61 OneDigital Investment Advisors LLC 0.34% of their portfolio OVERLAND PARK, KS 286,617286.6k $34.2m $34.2m 0.34% Reduced -5.9k -5,912
62 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.19% of their portfolio Stamford, CT 284,873284.9k $34.0m $34.0m 0.19% Added +28.8k +28,803
63 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 284,011284.0k $33.9m $33.9m 0.01% Reduced -759.9k -759,915
64 SkyView Investment Advisors, LLC 4.28% of their portfolio SHREWSBURY, NJ 283,804283.8k $33.9m $33.9m 4.28% Reduced -12.4k -12,363
65 COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio WALTHAM, MA 277,801277.8k $33.2m $33.2m 0.04% Reduced -20.2k -20,179
66 Banco Santander, S.A. 0.24% of their portfolio Madrid, U3 271,993272.0k $32.5m $32.5m 0.24% Added +46.5k +46,500
67 CABOT WEALTH MANAGEMENT INC 3.58% of their portfolio BEVERLY, MA 271,164271.2k $32.4m $32.4m 3.58% Added +28.3k +28,319
68 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.04% of their portfolio PLYMOUTH, MN 270,784270.8k $32.4m $32.4m 0.04% Added +21.5k +21,537
69 Klaas Financial Asset Advisors, LLC 4.39% of their portfolio LOVES PARK, IL 253,386253.4k $30.2m $30.2m 4.39% Added +7.8k +7,798
70 NorthCoast Asset Management LLC 0.67% of their portfolio STAMFORD, CT 253,161253.2k $30.2m $30.2m 0.67% Reduced -212.5k -212,525
71 New Harbor Financial Group, LLC 5.52% of their portfolio WORCESTER, MA 252,645252.6k $30.2m $30.2m 5.52% Added +24.4k +24,357
72 Allianz Asset Management GmbH 0.03% of their portfolio MUNICH, 2M 244,800244.8k $29.2m $29.2m 0.03% Added +43.0k +43,000
73 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 241,104241.1k $28.8m $28.8m 0.00% Added +122.0k +122,013
74 Hilton Capital Management, LLC 2.13% of their portfolio Garden City, NY 236,863236.9k $28.3m $28.3m 2.13% Added +6.1k +6,108
75 Strategic Wealth Partners, Ltd. 1.89% of their portfolio INDEPENDENCE, OH 230,677230.7k $27.5m $27.5m 1.89% Added +27.9k +27,900
76 Hoese & Co LLP 18.84% of their portfolio GLENCOE, MN 221,484221.5k $26.4m $26.4m 18.84% Added +29.6k +29,626
77 MBL Wealth, LLC 2.12% of their portfolio CHARLOTTE, NC 220,933220.9k $26.4m $26.4m 2.12% Added +11.2k +11,154
78 Cambridge Investment Research Advisors, Inc. 0.07% of their portfolio FAIRFIELD, IA 213,074213.1k $25.4m $25.4m 0.07% Reduced -4.5k -4,540
79 SCHOOL EMPLOYEES RETIREMENT BOARD OF OHIO 12.29% of their portfolio COLUMBUS, OH 210,715210.7k $25.1m $25.1m 12.29% Reduced -210.7k -210,715
80 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 210,464210.5k $25.1m $25.1m 0.00% Added +9.8k +9,765
81 US BANCORP \DE\ 0.03% of their portfolio MINNEAPOLIS, MN 207,003207.0k $24.7m $24.7m 0.03% Reduced -5.7k -5,708
82 ANCHOR CAPITAL ADVISORS LLC 0.67% of their portfolio Boston, MA 193,283193.3k $23.1m $23.1m 0.67% Reduced -3.3k -3,328
83 DT Investment Partners, LLC 1.88% of their portfolio CHADDS FORD, PA 190,155190.2k $22.7m $22.7m 1.88% Added +188.1k +188,090
84 CSM Advisors, LLC 0.62% of their portfolio WARRENDALE, PA 189,900189.9k $22.7m $22.7m 0.62% Unchanged
85 AE Wealth Management LLC 0.13% of their portfolio TOPEKA, KS 186,548186.5k $22.3m $22.3m 0.13% Added +12.0k +12,018
86 Mirabaud & Cie SA 7.10% of their portfolio GENEVA, V8 184,445184.4k $22.0m $22.0m 7.10% Added +25.4k +25,353
87 Blueprint Financial Advisors LLC 3.36% of their portfolio GREENSBOTO, NC 184,310184.3k $22.0m $22.0m 3.36% Added +103.9k +103,918
88 JMAC ENTERPRISES LLC 4.16% of their portfolio NEWTOWN, PA 182,549182.5k $21.8m $21.8m 4.16% Added +13.7k +13,737
89 Orion Porfolio Solutions, LLC 0.15% of their portfolio OMAHA, NE 174,264174.3k $20.8m $20.8m 0.15% Added +182 +182
90 NewEdge Advisors, LLC 0.07% of their portfolio NEW ORLEANS, LA 171,648171.6k $20.5m $20.5m 0.07% Added +20.5k +20,454
91 FIRST AMERICAN TRUST, FSB 1.40% of their portfolio SANTA ANA, CA 170,910170.9k $20.4m $20.4m 1.40% Added +4.6k +4,648
92 Napier Financial, LLC 5.07% of their portfolio BRAINTREE, MA 170,227170.2k $20.3m $20.3m 5.07% First filing
93 COLDSTREAM CAPITAL MANAGEMENT INC 0.25% of their portfolio BELLEVUE, WA 164,672164.7k $19.7m $19.7m 0.25% Added +47.8k +47,780
94 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 162,484162.5k $19.4m $19.4m 0.03% Added +5.5k +5,481
95 Vectors Research Management, LLC 5.84% of their portfolio New York, NY 160,211160.2k $19.1m $19.1m 5.84% Added +6.1k +6,057
96 Independence Financial Advisors, LLC 5.23% of their portfolio FRANKLIN, NH 159,512159.5k $19.0m $19.0m 5.23% Added +6.6k +6,599
97 MML INVESTORS SERVICES, LLC 0.05% of their portfolio SPRINGFIELD, MA 156,317156.3k $18.7m $18.7m 0.05% Added +17.6k +17,636
98 Haverford Trust Co 0.16% of their portfolio Radnor, PA 152,863152.9k $18.2m $18.2m 0.16% Added +10.1k +10,106
99 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 150,546150.5k $18.0m $18.0m 0.02% Reduced -96.3k -96,294
100 Lido Advisors, LLC 0.07% of their portfolio Los Angeles, CA 149,425149.4k $17.8m $17.8m 0.07% Reduced -11.2k -11,240