Vault-13

ISHARES TR PFF

PFD AND INCM SEC · ETP · CUSIP 464288687

992 institutional holders -37 vs Q1 2025
185,910,779185.9m shares reported held*
$5.6bnreported value*
52 new 329 added 432 reduced 95 sold out net sold ≈ $158.6m (-492.8k 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 ($4.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.99. Options: 6 managers hold calls ($7.1m notional), 5 hold puts ($33.0m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 954Q4 22: 980Q1 23: 956Q2 23: 967Q3 23: 964Q4 23: 1,037Q1 24: 1,048Q2 24: 1,012Q3 24: 1,024Q4 24: 1,071Q1 25: 1,029Q2 25: 992992Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022954
Q4 2022980
Q1 2023956
Q2 2023967
Q3 2023964
Q4 20231,037
Q1 20241,048
Q2 20241,012
Q3 20241,024
Q4 20241,071
Q1 20251,029
Q2 2025992

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ3 23: 406 bought or addedQ3 23: 481 cut or sold outQ4 23: 428 bought or addedQ4 23: 509 cut or sold outQ4 23Q1 24: 482 bought or addedQ1 24: 473 cut or sold outQ2 24: 438 bought or addedQ2 24: 496 cut or sold outQ2 24Q3 24: 484 bought or addedQ3 24: 417 cut or sold outQ4 24: 449 bought or addedQ4 24: 463 cut or sold outQ4 24Q1 25: 432 bought or addedQ1 25: 516 cut or sold outQ2 25: 381 bought or addedQ2 25: 527 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023406481
Q4 2023428509
Q1 2024482473
Q2 2024438496
Q3 2024484417
Q4 2024449463
Q1 2025432516
Q2 2025381527

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ3 24 calls: $5.4mQ3 24 puts: $26.4mQ3 24P/C 4.86Q4 24 calls: $7.9mQ4 24 puts: $33.1mQ4 24P/C 4.19Q1 25 calls: $8.5mQ1 25 puts: $45.4mQ1 25P/C 5.38Q2 25 calls: $7.1mQ2 25 puts: $33.0mQ2 25P/C 4.62
Numbers
QuarterCallsPutsP/C
Q3 2024$5.4m$26.4m4.86
Q4 2024$7.9m$33.1m4.19
Q1 2025$8.5m$45.4m5.38
Q2 2025$7.1m$33.0m4.62

Biggest buyers

Proficio Capital Partners LLC Added +4,809,993+4.8m
ROYAL BANK OF CANADA Added +3,659,635+3.7m
WELLINGTON MANAGEMENT GROUP LLP New +2,700,100+2.7m
Rockefeller Capital Management L.P. Added +1,331,851+1.3m
Hennion & Walsh Asset Management, Inc. New +700,414+700.4k
RAYMOND JAMES FINANCIAL INC Added +555,455+555.5k
RENAISSANCE TECHNOLOGIES LLC Added +463,200+463.2k
Stratos Wealth Partners, LTD. Added +360,917+360.9k
AlphaStar Capital Management, LLC New +333,363+333.4k
Quadrature Capital Ltd New +312,003+312.0k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -3,212,783-3.2m
WELLS FARGO & COMPANY/MN Reduced -1,587,667-1.6m
MORGAN STANLEY Reduced -1,128,551-1.1m
Hilton Capital Management, LLC Reduced -1,037,383-1.0m
New York Life Investment Management LLC Sold out -829,008-829.0k
ENVESTNET ASSET MANAGEMENT INC Reduced -569,056-569.1k
HRT FINANCIAL LP Reduced -556,476-556.5k
JPMORGAN CHASE & CO Reduced -511,418-511.4k
NATIONAL BANK OF CANADA /FI/ Sold out -442,200-442.2k
GOLDMAN SACHS GROUP INC Reduced -403,882-403.9k

Biggest calls

Centiva Capital, LP New $1.9m60.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.8m58.7k shares
CITADEL ADVISORS LLC Reduced $1.3m42.9k shares
WOLVERINE TRADING, LLC Added $951.7k31.1k shares
JANE STREET GROUP, LLC Reduced $635.1k20.7k shares
CAPITAL FUND MANAGEMENT S.A. New $561.4k18.3k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $17.5m571.2k shares
Centiva Capital, LP Reduced $12.3m400.4k shares
CITADEL ADVISORS LLC Added $1.8m58.9k shares
CAPITAL FUND MANAGEMENT S.A. New $1.1m37.0k shares
WOLVERINE TRADING, LLC Reduced $214.2k7.0k 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 BANK OF AMERICA CORP /DE/ 0.05% of their portfolio CHARLOTTE, NC 21,533,16521.5m $660.6m $660.6m 0.05% Reduced -3.2m -3,212,783
2 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 15,303,20915.3m $469.5m $469.5m 0.03% Reduced -1.1m -1,128,551
3 WELLS FARGO & COMPANY/MN 0.06% of their portfolio SAN FRANCISCO, CA 9,022,8019.0m $276.8m $276.8m 0.06% Reduced -1.6m -1,587,667
4 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 8,611,0048.6m $264.2m $264.2m 0.03% Added +3.7m +3,659,635
5 LPL Financial LLC 0.08% of their portfolio FORT MILL, SC 8,057,1638.1m $247.2m $247.2m 0.08% Reduced -78.8k -78,817
6 UBS Group AG 0.04% of their portfolio ZURICH, V8 5,598,8075.6m $171.8m $171.8m 0.04% Reduced -293.4k -293,352
7 Proficio Capital Partners LLC 0.31% of their portfolio NEWTON, MA 4,830,9284.8m $5.0m $5.0m 0.31% Added +4.8m +4,809,993
8 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 4,212,6254.2m $129.2m $129.2m 0.04% Reduced -569.1k -569,056
9 Mariner, LLC 0.16% of their portfolio Overland Park, KS 3,672,1503.7m $112.6m $112.6m 0.16% Reduced -51.0k -51,039
10 Rockefeller Capital Management L.P. 0.11% of their portfolio NEW YORK, NY 3,049,0843.0m $98.0m $98.0m 0.11% Added +1.3m +1,331,851
11 First Interstate Bank 5.16% of their portfolio Billings, MT 2,865,1672.9m $87.9m $87.9m 5.16% Reduced -143.9k -143,869
12 WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio Boston, MA 2,700,1002.7m $82.8m $82.8m 0.02% New
13 RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio ST. PETERSBURG, FL 2,623,0592.6m $80.5m $80.5m 0.03% Added +555.5k +555,455
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,610,9502.6m $80.1m $80.1m 0.00% Reduced -218.1k -218,063
15 US BANCORP \DE\ 0.08% of their portfolio MINNEAPOLIS, MN 2,023,6252.0m $62.1m $62.1m 0.08% Reduced -168.8k -168,827
16 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 1,968,8532.0m $60.4m $60.4m 0.01% Added +137.5k +137,530
17 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 1.00% of their portfolio MINNEAPOLIS, MN 1,948,7301.9m $59.8m $59.8m 1.00% Added +64.0k +64,033
18 COMMONWEALTH EQUITY SERVICES, LLC 0.07% of their portfolio WALTHAM, MA 1,825,2511.8m $56.0m $56.0m 0.07% Reduced -233.9k -233,893
19 TRUIST FINANCIAL CORP 0.08% of their portfolio CHARLOTTE, NC 1,780,3441.8m $54.6m $54.6m 0.08% Reduced -31.0k -30,999
20 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,706,5711.7m $52.4m $52.4m 0.01% Reduced -89.5k -89,471
21 Janney Montgomery Scott LLC 0.12% of their portfolio PHILADELPHIA, PA 1,478,5681.5m $45.4m $45.4m 0.12% Reduced -74.9k -74,895
22 Cetera Investment Advisers 0.07% of their portfolio SCHAUMBURG, IL 1,444,1711.4m $44.3m $44.3m 0.07% Added +284.0k +284,014
23 DEUTSCHE BANK AG\ 0.02% of their portfolio FRANKFURT AM MAIN, 2M 1,369,8831.4m $42.0m $42.0m 0.02% Reduced -184.6k -184,622
24 FIFTH THIRD BANCORP 0.13% of their portfolio CINCINNATI, OH 1,267,3231.3m $38.9m $38.9m 0.13% Reduced -66.7k -66,732
25 OSAIC HOLDINGS, INC. 0.07% of their portfolio SCOTTSDALE, AZ 1,223,1651.2m $37.5m $37.5m 0.07% Reduced -21.0k -20,997
26 Edge Wealth Management LLC 7.02% of their portfolio NEW YORK, NY 1,187,3101.2m $36.4m $36.4m 7.02% Reduced -116.1k -116,105
27 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 1,162,7811.2m $35.7m $35.7m 0.03% Reduced -120.7k -120,747
28 GREENLEAF TRUST 0.30% of their portfolio KALAMAZOO, MI 1,115,1561.1m $34.2m $34.2m 0.30% Reduced -22.2k -22,245
29 Dakota Wealth Management 0.70% of their portfolio PALM BEACH GARDENS, FL 1,083,2811.1m $33.2m $33.2m 0.70% Reduced -17.3k -17,331
30 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.05% of their portfolio PLYMOUTH, MN 1,063,2291.1m $33.0m $33.0m 0.05% Added +11.7k +11,694
31 Townsend & Associates, Inc 3.12% of their portfolio WESTMINSTER, CO 1,009,9891.0m $31.5m $31.5m 3.12% Added +72.7k +72,747
32 Montis Financial, LLC 8.60% of their portfolio WALTHAM, MA 1,008,1171.0m $30.9m $30.9m 8.60% Added +135.3k +135,277
33 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 1,001,6031.0m $30.7m $30.7m 0.05% Added +65.0k +65,031
34 MAI Capital Management 0.19% of their portfolio INDEPENDENCE, OH 886,104886.1k $27.2m $27.2m 0.19% Reduced -37.2k -37,170
35 Insight Wealth Strategies, LLC 3.43% of their portfolio SAN RAMON, CA 884,451884.5k $27.1m $27.1m 3.43% Added +90.5k +90,530
36 COMMERCE BANK 0.15% of their portfolio KANSAS CITY, MO 850,464850.5k $26.1m $26.1m 0.15% Added +18.0k +17,967
37 SUMITOMO MITSUI FINANCIAL GROUP, INC. 0.42% of their portfolio TOKYO, M0 836,063836.1k $25.7m $25.7m 0.42% Reduced -2.8k -2,797
38 STEPHENS INC /AR/ 0.35% of their portfolio LITTLE ROCK, AR 826,925826.9k $25.4m $25.4m 0.35% Reduced -33.7k -33,746
39 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 819,504819.5k $25.1m $25.1m 0.03% Reduced -94.4k -94,447
40 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 792,197792.2k $24.3m $24.3m 0.02% Reduced -32.4k -32,440
41 GDS Wealth Management 1.71% of their portfolio FLOWER MOUND, TX 763,455763.5k $23.4m $23.4m 1.71% Added +62.8k +62,792
42 Summit Financial Wealth Advisors, LLC 3.94% of their portfolio Lafayette, LA 715,275715.3k $21.9m $21.9m 3.94% Added +8.1k +8,095
43 Hennion & Walsh Asset Management, Inc. 0.87% of their portfolio Parsippany, NJ 700,414700.4k $21.5m $21.5m 0.87% New
44 Jaffetilchin Investment Partners, LLC 1.39% of their portfolio TAMPA, FL 691,210691.2k $21.2m $21.2m 1.39% Reduced -6.2k -6,189
45 KEYBANK NATIONAL ASSOCIATION/OH 0.08% of their portfolio BROOKLYN, OH 686,775686.8k $21.1m $21.1m 0.08% Reduced -24.9k -24,945
46 Welch & Forbes LLC 0.26% of their portfolio Boston, MA 666,320666.3k $20.4m $20.4m 0.26% Reduced -5.4k -5,409
47 Corient Private Wealth LP 0.03% of their portfolio MIAMI, FL 627,667627.7k $19.3m $19.3m 0.03% Reduced -64.1k -64,082
48 MML INVESTORS SERVICES, LLC 0.05% of their portfolio SPRINGFIELD, MA 586,602586.6k $18.0m $18.0m 0.05% Added +25.3k +25,286
49 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 578,544578.5k $17.7m $17.7m 0.01% Reduced -114.3k -114,301
50 COUNTRY TRUST BANK 0.39% of their portfolio Bloomington, IL 569,984570.0k $17.5m $17.5m 0.39% Added +1.0k +1,000
51 FUKOKU MUTUAL LIFE INSURANCE Co 1.11% of their portfolio TOKYO, M0 567,500567.5k $17.4m $17.4m 1.11% Unchanged
52 Pure Financial Advisors, LLC 0.30% of their portfolio SAN DIEGO, CA 560,568560.6k $17.2m $17.2m 0.30% Added +24.1k +24,092
53 Cerity Partners LLC 0.03% of their portfolio NEW YORK, NY 553,491553.5k $17.0m $17.0m 0.03% Reduced -59.6k -59,645
54 Cambridge Investment Research Advisors, Inc. 0.05% of their portfolio FAIRFIELD, IA 518,576518.6k $15.9m $15.9m 0.05% Reduced -94.4k -94,353
55 RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio NEW YORK, NY 506,800506.8k $15.5m $15.5m 0.02% Added +463.2k +463,200
56 Parkside Investments, LLC 2.06% of their portfolio DEERFIELD, IL 495,428495.4k $15.2m $15.2m 2.06% Added +47.2k +47,198
57 Stratos Wealth Partners, LTD. 0.20% of their portfolio BEACHWOOD, OH 492,949492.9k $15.1m $15.1m 0.20% Added +360.9k +360,917
58 Kestra Advisory Services, LLC 0.07% of their portfolio AUSTIN, TX 492,320492.3k $15.1m $15.1m 0.07% Added +48.3k +48,294
59 Northside Capital Management, LLC 1.12% of their portfolio Hood River, OR 479,636479.6k $14.7m $14.7m 1.12% Added +50.4k +50,378
60 HRT FINANCIAL LP 0.08% of their portfolio NEW YORK, NY 466,887466.9k $14.3m $14.3m 0.08% Reduced -556.5k -556,476
61 Robertson Stephens Wealth Management, LLC 0.48% of their portfolio San Francisco, CA 450,200450.2k $13.8m $13.8m 0.48% Reduced -40.8k -40,842
62 Envestnet Portfolio Solutions, Inc. 0.05% of their portfolio BERWYN, PA 447,836447.8k $13.7m $13.7m 0.05% Reduced -33.0k -33,011
63 SeaBridge Investment Advisors LLC 2.51% of their portfolio SUMMIT, NJ 440,736440.7k $13.5m $13.5m 2.51% Added +77.2k +77,154
64 Steward Partners Investment Advisory, LLC 0.11% of their portfolio STAMFORD, CT 438,932438.9k $13.5m $13.5m 0.11% Added +48.3k +48,269
65 SBI Securities Co., Ltd. 0.38% of their portfolio TOKYO, M0 435,969436.0k $13.4m $13.4m 0.38% Added +54.5k +54,528
66 FIRST CITIZENS BANK & TRUST CO 0.23% of their portfolio RALEIGH, NC 413,664413.7k $12.7m $12.7m 0.23% Reduced -2.7k -2,685
67 FULTON BREAKEFIELD BROENNIMAN LLC 0.85% of their portfolio Bethesda, MD 412,366412.4k $12.7m $12.7m 0.85% Reduced -61.4k -61,434
68 Regal Investment Advisors LLC 0.94% of their portfolio KENTWOOD, MI 410,639410.6k $12.6m $12.6m 0.94% Reduced -2.7k -2,713
69 Capital Square, LLC 6.79% of their portfolio ATHENS, TN 408,075408.1k $12.7m $12.7m 6.79% Reduced -13.3k -13,333
70 Sanctuary Advisors, LLC 0.08% of their portfolio INDIANAPOLIS, IN 404,354404.4k $12.4m $12.4m 0.08% Reduced -12.8k -12,826
71 CONNING INC. 0.41% of their portfolio HARTFORD, CT 390,500390.5k $12.0m $12.0m 0.41% Unchanged
72 Ballast, Inc. 3.04% of their portfolio Lexington, KY 378,855378.9k $11.6m $11.6m 3.04% Added +117.8k +117,806
73 Hilton Capital Management, LLC 0.91% of their portfolio Garden City, NY 372,537372.5k $11.4m $11.4m 0.91% Reduced -1.0m -1,037,383
74 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 360,345360.3k $11.0m $11.0m 0.01% Added +38.6k +38,554
75 NewEdge Advisors, LLC 0.06% of their portfolio NEW ORLEANS, LA 359,311359.3k $11.0m $11.0m 0.06% Added +78.8k +78,817
76 Good Life Advisors, LLC 0.66% of their portfolio READING, PA 343,813343.8k $10.5m $10.5m 0.66% Added +34.8k +34,777
77 PARK AVENUE SECURITIES LLC 0.10% of their portfolio NEW YORK, NY 343,257343.3k $10.5m $10.5m 0.10% Added +8.0k +8,010
78 Florida Trust Wealth Management Co 0.32% of their portfolio SANIBEL, FL 340,820340.8k $10.5m $10.5m 0.32% Added +16.6k +16,594
79 AlphaStar Capital Management, LLC 0.72% of their portfolio CORNELIUS, NC 333,363333.4k $10.2m $10.2m 0.72% New
80 Full Sail Capital, LLC 0.57% of their portfolio OKLAHOMA CITY, OK 323,431323.4k $9.9m $9.9m 0.57% Added +94.1k +94,141
81 Oak Harvest Investment Services 1.22% of their portfolio HOUSTON, TX 316,654316.7k $9.7m $9.7m 1.22% Added +11.8k +11,767
82 SYNOVUS FINANCIAL CORP 0.12% of their portfolio Columbus, GA 314,408314.4k $9.6m $9.6m 0.12% Reduced -8.2k -8,189
83 AMG National Trust Bank 0.25% of their portfolio GREENWOOD VILLAGE, CO 312,993313.0k $9.6m $9.6m 0.25% Reduced -25.3k -25,316
84 Quadrature Capital Ltd 0.16% of their portfolio LONDON, X0 312,003312.0k $9.6m $9.6m 0.16% New
85 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 306,913306.9k $9.4m $9.4m 0.02% Added +7.8k +7,816
86 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 305,816305.8k $9.4m $9.4m 0.00% Reduced -33.7k -33,736
87 CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio RALEIGH, NC 305,358305.4k $9.4m $9.4m 0.02% Added +22.1k +22,103
88 COLLECTIVE FAMILY OFFICE LLC 2.36% of their portfolio YORK, PA 298,995299.0k $9.2m $9.2m 2.36% Reduced -15.0k -15,036
89 Frisch Financial Group, Inc. 2.21% of their portfolio MELVILLE, NY 294,202294.2k $9.0m $9.0m 2.21% Added +9.6k +9,648
90 HUNTINGTON NATIONAL BANK 0.06% of their portfolio COLUMBUS, OH 288,518288.5k $8.9m $8.9m 0.06% Reduced -8.8k -8,759
91 CAMPBELL CAPITAL MANAGEMENT INC 3.21% of their portfolio MIAMI, FL 268,100268.1k $8.2m $8.2m 3.21% Added +2.7k +2,680
92 PEAPACK GLADSTONE FINANCIAL CORP 0.12% of their portfolio BEDMINSTER, NJ 267,929267.9k $8.2m $8.2m 0.12% Reduced -52.1k -52,133
93 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 250,772250.8k $7.7m $7.7m 0.01% Added +97.9k +97,870
94 GREENBERG FINANCIAL GROUP 2.84% of their portfolio TUCSON, AZ 248,249248.2k $7.6m $7.6m 2.84% Reduced -11.4k -11,373
95 Stablepoint Partners, LLC 1.29% of their portfolio BRAINTREE, MA 247,607247.6k $7.6m $7.6m 1.29% Added +8.7k +8,697
96 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 245,695245.7k $7.5m $7.5m 0.02% Reduced -98.6k -98,605
97 Private Advisor Group, LLC 0.04% of their portfolio MORRISTOWN, NJ 240,264240.3k $7.4m $7.4m 0.04% Reduced -19.1k -19,127
98 D.A. DAVIDSON & CO. 0.05% of their portfolio GREAT FALLS, MT 234,749234.7k $7.2m $7.2m 0.05% Reduced -3.9k -3,880
99 Mesirow Financial Investment Management, Inc. 0.14% of their portfolio CHICAGO, IL 232,173232.2k $7.1m $7.1m 0.14% Reduced -8.5k -8,459
100 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 229,934229.9k $7.1m $7.1m 0.00% Reduced -403.9k -403,882