Vault-13

ISHARES TR ISCV

MRNING SM CP ETF · ETP · CUSIP 464288703

135 institutional holders +15 vs Q3 2025
4,689,2974.7m shares reported held*
$321.5mreported value*
18 new 54 added 21 reduced 8 sold out net bought ≈ $6.5m (+95.1k 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 ($7.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $68.56. Options: 5 managers hold calls ($1.9bn notional), 0 hold puts (—).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 96Q4 22: 99Q1 23: 98Q2 23: 98Q3 23: 103Q4 23: 112Q1 24: 110Q2 24: 106Q3 24: 112Q4 24: 116Q1 25: 115Q2 25: 110Q3 25: 120Q4 25: 135135Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202296
Q4 202299
Q1 202398
Q2 202398
Q3 2023103
Q4 2023112
Q1 2024110
Q2 2024106
Q3 2024112
Q4 2024116
Q1 2025115
Q2 2025110
Q3 2025120
Q4 2025135

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 39 bought or addedQ1 24: 42 cut or sold outQ2 24: 35 bought or addedQ2 24: 44 cut or sold outQ2 24Q3 24: 33 bought or addedQ3 24: 43 cut or sold outQ4 24: 45 bought or addedQ4 24: 36 cut or sold outQ4 24Q1 25: 53 bought or addedQ1 25: 37 cut or sold outQ2 25: 51 bought or addedQ2 25: 39 cut or sold outQ2 25Q3 25: 48 bought or addedQ3 25: 48 cut or sold outQ4 25: 72 bought or addedQ4 25: 29 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243942
Q2 20243544
Q3 20243343
Q4 20244536
Q1 20255337
Q2 20255139
Q3 20254848
Q4 20257229

Calls vs puts

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

CallsPuts
$0$1bn$2bn$3bnQ1 25 calls: $1.5bnQ1 25 puts: $0Q1 25P/C 0.00Q2 25 calls: $1.2bnQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $2.7bnQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $1.9bnQ4 25 puts: $0Q4 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q1 2025$1.5bn$00.00
Q2 2025$1.2bn$00.00
Q3 2025$2.7bn$00.00
Q4 2025$1.9bn$00.00

Biggest buyers

EXCHANGE TRADED CONCEPTS, LLC Added +101,072+101.1k
LPL Financial LLC Added +61,259+61.3k
BANK OF AMERICA CORP /DE/ Added +16,452+16.5k
TWO SIGMA INVESTMENTS, LP New +15,000+15.0k
CAPTRUST FINANCIAL ADVISORS Added +13,155+13.2k
HighPoint Advisor Group LLC New +10,404+10.4k
VAUGHAN & Co SECURITIES, INC. Added +10,322+10.3k
rebel Financial LLC Added +6,797+6.8k
WELLS FARGO & COMPANY/MN Added +5,952+6.0k
CITIGROUP INC Added +5,896+5.9k

Biggest sellers

Focus Partners Wealth Reduced -128,111-128.1k
JPMORGAN CHASE & CO Reduced -57,463-57.5k
MB Generational Wealth, LLC Reduced -5,878-5.9k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -5,429-5.4k
ENVESTNET ASSET MANAGEMENT INC Reduced -4,115-4.1k
ASHTON THOMAS SECURITIES, LLC Sold out -3,550-3.5k
PARK AVENUE SECURITIES LLC Sold out -3,156-3.2k
Prosperity Consulting Group, LLC Reduced -2,758-2.8k
PRINCIPAL SECURITIES, INC. Sold out -2,485-2.5k
CHILTON CAPITAL MANAGEMENT LLC Sold out -1,833-1.8k

Biggest calls

JPMORGAN CHASE & CO Added $1.7bn20.9m shares
HRT FINANCIAL LP Added $62.7m777.6k shares
Optiver Holding B.V. Reduced $56.5m700.3k shares
IMC-Chicago, LLC Added $40.9m507.6k shares
GROUP ONE TRADING LLC Added $12.9m159.6k shares

Biggest puts

None

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 EXCHANGE TRADED CONCEPTS, LLC 0.52% of their portfolio Oklahoma City, OK 908,467908.5k $62.2m $62.2m 0.52% Added +101.1k +101,072
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 316,489316.5k $21.7m $21.7m 0.00% Added +4.4k +4,423
3 VAUGHAN & Co SECURITIES, INC. 10.66% of their portfolio Ridgewood, NJ 300,980301.0k $20.6m $20.6m 10.66% Added +10.3k +10,322
4 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 285,323285.3k $19.5m $19.5m 0.02% Reduced -128.1k -128,111
5 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 231,259231.3k $15.8m $15.8m 0.00% Added +61.3k +61,259
6 Steele Capital Management, Inc. 0.55% of their portfolio DUBUQUE, IA 187,179187.2k $12.8m $12.8m 0.55% Added +2.2k +2,205
7 Matrix Trust Co 2.12% of their portfolio DENVER, CO 187,179187.2k $12.8m $12.8m 2.12% Added +2.2k +2,205
8 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 172,374172.4k $11.8m $11.8m 0.00% Added +16.5k +16,452
9 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 155,228155.2k $10.6m $10.6m 0.00% Added +184 +184
10 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 141,015141.0k $9.7m $9.7m 0.00% Added +6.0k +5,952
11 UBS Group AG 0.00% of their portfolio ZURICH, V8 134,439134.4k $9.2m $9.2m 0.00% Added +15 +15
12 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 114,011114.0k $7.8m $7.8m 0.00% Added +4.4k +4,398
13 GRANVILLE CAPITAL, INC. 4.01% of their portfolio GREENSBORO, NC 110,306110.3k $7.6m $7.6m 4.01% First filing
14 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 99,28199.3k $6.8m $6.8m 0.01% Added +1.8k +1,751
15 MB Generational Wealth, LLC 3.19% of their portfolio SPOKANE, WA 88,01588.0k $6.0m $6.0m 3.19% Reduced -5.9k -5,878
16 Advisory Services Network, LLC 0.06% of their portfolio ATLANTA, GA 56,81656.8k $3.9m $3.9m 0.06% Added +4.7k +4,692
17 Ipsen Advisor Group LLC 2.72% of their portfolio LITTLE ROCK, AR 55,98256.0k $3.8m $3.8m 2.72% Reduced -272 -272
18 Aptus Capital Advisors, LLC 0.03% of their portfolio FAIRHOPE, AL 55,77355.8k $3.8m $3.8m 0.03% Added +4.7k +4,691
19 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 55,30855.3k $3.8m $3.8m 0.00% Reduced -4.1k -4,115
20 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 55,14355.1k $3.8m $3.8m 0.01% Reduced -481 -481
21 Chicago Partners Investment Group LLC 0.09% of their portfolio CHICAGO, IL 50,33950.3k $3.6m $3.6m 0.09% Added +200 +200
22 Black Diamond Financial, LLC 0.33% of their portfolio TOWSON, MD 46,23746.2k $3.2m $3.2m 0.33% Added +647 +647
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 45,74745.7k $3.1m $3.1m 0.00% Reduced -57.5k -57,463
24 Viewpoint Capital Management LLC 1.35% of their portfolio SEATTLE, WA 45,39445.4k $3.1m $3.1m 1.35% Added +120 +120
25 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 45,14645.1k $3.1m $3.1m 0.00% Added +254 +254
26 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 44,38744.4k $3.0m $3.0m 0.01% Added +754 +754
27 Rodgers & Associates, LTD 0.31% of their portfolio Lancaster, PA 44,02844.0k $3.0m $3.0m 0.31% Added +107 +107
28 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 43,96944.0k $3.0m $3.0m 0.00% Added +549 +549
29 Prosperity Consulting Group, LLC 0.11% of their portfolio OWINGS MILLS, MD 37,19837.2k $2.5m $2.5m 0.11% Reduced -2.8k -2,758
30 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 36,26436.3k $2.5m $2.5m 0.00% Added +13.2k +13,155
31 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 34,72534.7k $2.4m $2.4m 0.01% Reduced -105 -105
32 IHT Wealth Management, LLC 0.06% of their portfolio Chicago, IL 33,80633.8k $2.3m $2.3m 0.06% Added +4.7k +4,696
33 EP Wealth Advisors, LLC 0.01% of their portfolio TORRANCE, CA 33,62833.6k $2.3m $2.3m 0.01% First filing
34 Twin Cities Retirement Group LLC 1.97% of their portfolio PLYMOUTH, MN 29,77029.8k $2.0m $2.0m 1.97% First filing
35 Perennial Investment Advisors, LLC 0.15% of their portfolio Los Angeles, CA 28,13228.1k $1.9m $1.9m 0.15% Added +890 +890
36 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 21,48721.5k $1.5m $1.5m 0.01% Added +874 +874
37 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 19,88619.9k $1.4m $1.4m 0.01% Added +3.9k +3,850
38 LRI Investments, LLC 0.10% of their portfolio PALM BEACH GARDENS, FL 17,97618.0k $1.2m $1.2m 0.10% Unchanged
39 Mariner, LLC 0.00% of their portfolio Overland Park, KS 17,04917.0k $1.2m $1.2m 0.00% Added +3 +3
40 COMERICA BANK 0.00% of their portfolio DALLAS, TX 16,87016.9k $1.2m $1.2m 0.00% Reduced -257 -257
41 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 15,00015.0k $1.0m $1.0m 0.00% New
42 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 14,19714.2k $972.0k $972.0k 0.00% Added +1.4k +1,398
43 MGO ONE SEVEN LLC 0.02% of their portfolio Beachwood, OH 14,08814.1k $965.0k $965.0k 0.02% Added +1.7k +1,689
44 SGL Investment Advisors, Inc. 0.40% of their portfolio MISSOULA, MT 13,81413.8k $1.0m $1.0m 0.40% Added +2.0k +2,041
45 PANORAMIC INVESTMENT ADVISORS, LLC 0.50% of their portfolio DENVER, CO 13,52513.5k $926.5k $926.5k 0.50% Added +83 +83
46 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,80012.8k $876.8k $876.8k 0.00% Reduced -5.4k -5,429
47 Key Financial Inc 0.13% of their portfolio WEST CHESTER, PA 10,74910.7k $736.3k $736.3k 0.13% Added +453 +453
48 HighPoint Advisor Group LLC 0.02% of their portfolio DOWNERS GROVE, IL 10,40410.4k $712.7k $712.7k 0.02% New
49 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 10,29310.3k $729.1k $729.1k 0.00% Added +1.1k +1,107
50 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 10,19110.2k $698.1k $698.1k 0.00% Added +5.9k +5,896
51 JIM SAULNIER & ASSOCIATES, LLC 0.36% of their portfolio FORT COLLINS, CO 10,06410.1k $689.4k $689.4k 0.36% Added +316 +316
52 Abel Hall, LLC 0.16% of their portfolio BATON ROUGE, LA 9,9049.9k $678.4k $678.4k 0.16% Reduced -778 -778
53 Pacific Sun Financial Corp 0.32% of their portfolio LOS ANGELES, CA 9,5599.6k $654.8k $654.8k 0.32% Reduced -460 -460
54 Mill Creek Capital Advisors, LLC 0.01% of their portfolio Conshohocken, PA 9,3999.4k $643.8k $643.8k 0.01% Unchanged
55 Merit Financial Group, LLC 0.01% of their portfolio ALPHARETTA, GA 9,3809.4k $642.5k $642.5k 0.01% Added +63 +63
56 Edge Financial Advisors LLC 0.23% of their portfolio WHEATON, IL 7,9828.0k $546.8k $546.8k 0.23% Added +43 +43
57 Courage Miller Partners, LLC 0.16% of their portfolio NORFOLK, VA 7,8307.8k $536.4k $536.4k 0.16% Reduced -857 -857
58 KELLY FINANCIAL GROUP LLC 0.13% of their portfolio Wethersfield, CT 7,6247.6k $522.2k $522.2k 0.13% Unchanged
59 Geneos Wealth Management Inc. 0.01% of their portfolio ENGLEWOOD, CO 7,2557.3k $497.0k $497.0k 0.01% Unchanged
60 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 6,9507.0k $476.1k $476.1k 0.00% Unchanged
61 rebel Financial LLC 0.20% of their portfolio GROVEPORT, OH 6,7976.8k $465.6k $465.6k 0.20% Added +6.8k +6,797
62 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 6,5946.6k $451.7k $451.7k 0.00% Added +552 +552
63 Northwest Wealth Advisors, LLC 0.35% of their portfolio BELLINGHAM, WA 6,5686.6k $449.9k $449.9k 0.35% First filing
64 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 6,4416.4k $441.2k $441.2k 0.00% Reduced -28 -28
65 Towerpoint Wealth, LLC 0.16% of their portfolio SACRAMENTO, CA 5,8845.9k $403.0k $403.0k 0.16% Added +236 +236
66 Madison Wealth Partners, Inc 0.07% of their portfolio MADISON, WI 5,8565.9k $401.2k $401.2k 0.07% Added +28 +28
67 Essex Financial Services, Inc. 0.02% of their portfolio ESSEX, CT 5,8485.8k $400.6k $400.6k 0.02% Unchanged
68 Asset Dedication, LLC 0.03% of their portfolio SAN FRANCISCO, CA 5,8115.8k $398.0k $398.0k 0.03% Added +40 +40
69 TRANSCEND CAPITAL ADVISORS, LLC 0.03% of their portfolio MADISON, NJ 5,7275.7k $392.3k $392.3k 0.03% Unchanged
70 Sensible Money, LLC 0.12% of their portfolio SCOTTSDALE, AZ 5,7095.7k $391.0k $391.0k 0.12% Added +40 +40
71 GWN SECURITIES INC. 0.07% of their portfolio Palm Beach Gardens, FL 5,3555.4k $366.8k $366.8k 0.07% Added +106 +106
72 John A. Wolfe & Associates, Inc. 0.19% of their portfolio PORTAGE, MI 5,1145.1k $350.3k $350.3k 0.19% First filing
73 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 4,9605.0k $339.7k $339.7k 0.00% Added +3 +3
74 Argent Trust Co 0.01% of their portfolio NASHVILLE, TN 4,8894.9k $334.9k $334.9k 0.01% Unchanged
75 Lansing Street Advisors 0.09% of their portfolio AMBLER, PA 4,8634.9k $333.1k $333.1k 0.09% Reduced -2 -2
76 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 4,8504.8k $332.2k $332.2k 0.01% Added +2.4k +2,350
77 MONECO ADVISORS, LLC 0.03% of their portfolio FAIRFIELD, CT 4,8504.8k $332.2k $332.2k 0.03% Reduced -195 -195
78 LANARK FINANCIAL, INC. 0.02% of their portfolio BIRMINGHAM, AL 4,5374.5k $310.8k $310.8k 0.02% Reduced -135 -135
79 Unified Investment Management 0.28% of their portfolio Atlanta, GA 4,0474.0k $277.2k $277.2k 0.28% Unchanged
80 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,8723.9k $265.3k $265.3k 0.00% Reduced -1.2k -1,173
81 Western Wealth Management, LLC 0.01% of their portfolio GOLDEN, CO 3,7053.7k $253.8k $253.8k 0.01% New
82 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 3,7003.7k $253.5k $253.5k 0.00% Added +34 +34
83 FMR LLC 0.00% of their portfolio BOSTON, MA 3,6893.7k $252.7k $252.7k 0.00% Added +77 +77
84 Kohmann Bosshard Financial Services, LLC 0.02% of their portfolio FAIRLAWN, OH 3,6813.7k $252.1k $252.1k 0.02% Unchanged
85 RMR Capital Management, LLC 0.18% of their portfolio Tustin, CA 3,6213.6k $248.0k $248.0k 0.18% Unchanged
86 Summit Financial, LLC 0.00% of their portfolio PARSIPPANY, NJ 3,5943.6k $246.2k $246.2k 0.00% Reduced -3 -3
87 CWM, LLC 0.00% of their portfolio OMAHA, NE 3,5213.5k $241.0k $241.0k 0.00% Reduced -96 -96
88 Vise Technologies, Inc. 0.00% of their portfolio NEW YORK, NY 3,3763.4k $231.3k $231.3k 0.00% New
89 BARRETT & COMPANY, INC. 0.07% of their portfolio PROVIDENCE, RI 3,2763.3k $224.4k $224.4k 0.07% Unchanged
90 INDEPENDENT FINANCIAL GROUP, LLC 0.00% of their portfolio SAN DIEGO, CA 3,2583.3k $223.2k $223.2k 0.00% Added +213 +213
91 World Investment Advisors 0.00% of their portfolio LINCROFT, NJ 3,2493.2k $222.6k $222.6k 0.00% Reduced -107 -107
92 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 2,9553.0k $202.4k $202.4k 0.00% New
93 PURE PORTFOLIOS HOLDINGS LLC 0.06% of their portfolio LAKE OSWEGO, OR 2,9252.9k $200.4k $200.4k 0.06% New
94 Smartleaf Asset Management LLC 0.01% of their portfolio BOSTON, MA 2,8392.8k $196.1k $196.1k 0.01% Added +246 +246
95 Richwood Investment Advisors, LLC 0.15% of their portfolio Cincinnati, OH 2,7752.8k $206.4k $206.4k 0.15% New
96 Greykasell Wealth Strategies, Inc. 0.07% of their portfolio DANVILLE, CA 2,5362.5k $173.7k $173.7k 0.07% Added +18 +18
97 City State Bank 0.04% of their portfolio NORWALK, IA 2,1962.2k $150.4k $150.4k 0.04% Unchanged
98 Basepoint Wealth LLC 0.07% of their portfolio CEDAR RAPIDS, IA 1,7621.8k $120.7k $120.7k 0.07% New
99 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,4401.4k $98.6k $98.6k 0.00% Unchanged
100 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 1,0731.1k $73.5k $73.5k 0.00% Added +150 +150