Vault-13

ISHARES TR ITA

US AER DEF ETF · ETP · CUSIP 464288760

756 institutional holders +55 vs Q1 2025
20,314,88020.3m shares reported held*
$3.8bnreported value*
104 new 259 added 205 reduced 51 sold out net bought ≈ $421.9m (+2.2m 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 ($5.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $188.59. Options: 9 managers hold calls ($193.6m notional), 10 hold puts ($75.9m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 423Q4 22: 515Q1 23: 549Q2 23: 559Q3 23: 543Q4 23: 628Q1 24: 614Q2 24: 622Q3 24: 654Q4 24: 699Q1 25: 701Q2 25: 756756Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022423
Q4 2022515
Q1 2023549
Q2 2023559
Q3 2023543
Q4 2023628
Q1 2024614
Q2 2024622
Q3 2024654
Q4 2024699
Q1 2025701
Q2 2025756

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 209 bought or addedQ3 23: 252 cut or sold outQ4 23: 319 bought or addedQ4 23: 218 cut or sold outQ4 23Q1 24: 247 bought or addedQ1 24: 278 cut or sold outQ2 24: 273 bought or addedQ2 24: 235 cut or sold outQ2 24Q3 24: 291 bought or addedQ3 24: 259 cut or sold outQ4 24: 310 bought or addedQ4 24: 251 cut or sold outQ4 24Q1 25: 276 bought or addedQ1 25: 317 cut or sold outQ2 25: 363 bought or addedQ2 25: 256 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023209252
Q4 2023319218
Q1 2024247278
Q2 2024273235
Q3 2024291259
Q4 2024310251
Q1 2025276317
Q2 2025363256

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ3 24 calls: $44.7mQ3 24 puts: $26.1mQ3 24P/C 0.58Q4 24 calls: $100.9mQ4 24 puts: $62.8mQ4 24P/C 0.62Q1 25 calls: $130.1mQ1 25 puts: $80.0mQ1 25P/C 0.61Q2 25 calls: $193.6mQ2 25 puts: $75.9mQ2 25P/C 0.39
Numbers
QuarterCallsPutsP/C
Q3 2024$44.7m$26.1m0.58
Q4 2024$100.9m$62.8m0.62
Q1 2025$130.1m$80.0m0.61
Q2 2025$193.6m$75.9m0.39

Biggest buyers

BNP PARIBAS FINANCIAL MARKETS Added +450,652+450.7k
ROYAL BANK OF CANADA Added +438,274+438.3k
LPL Financial LLC Added +380,178+380.2k
Rockefeller Capital Management L.P. Added +192,962+193.0k
BANK OF MONTREAL /CAN/ Added +104,309+104.3k
PRUDENTIAL PLC New +82,300+82.3k
IFP Advisors, Inc Added +74,644+74.6k
RAYMOND JAMES FINANCIAL INC Added +73,117+73.1k
SURIENCE PRIVATE WEALTH LLC New +67,127+67.1k
CITADEL ADVISORS LLC Added +59,582+59.6k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -240,844-240.8k
GOLDMAN SACHS GROUP INC Reduced -91,677-91.7k
Marks Wealth, LLC Sold out -81,901-81.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -41,269-41.3k
JPMORGAN CHASE & CO Reduced -38,631-38.6k
CASTLEARK MANAGEMENT LLC Sold out -35,260-35.3k
SOA Wealth Advisors, LLC. Reduced -31,231-31.2k
FLOW TRADERS U.S. LLC Sold out -30,359-30.4k
Geneos Wealth Management Inc. Reduced -29,254-29.3k
Quantitative Investment Management, LLC Sold out -27,816-27.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $86.1m456.5k shares
Twin Tree Management, LP Added $57.4m304.5k shares
JANE STREET GROUP, LLC Added $26.8m142.0k shares
CITADEL ADVISORS LLC Reduced $12.4m65.9k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $4.5m24.1k shares
Cubist Systematic Strategies, LLC Added $3.1m16.2k shares
WOLVERINE TRADING, LLC Reduced $2.7m14.4k shares
Belvedere Trading LLC New $301.8k1.6k shares
Squarepoint Ops LLC Reduced $207.5k1.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $31.6m167.3k shares
CITADEL ADVISORS LLC Reduced $18.7m99.1k shares
JANE STREET GROUP, LLC Reduced $9.5m50.5k shares
Cubist Systematic Strategies, LLC Added $6.1m32.1k shares
CAPITAL FUND MANAGEMENT S.A. Unchanged $4.6m24.6k shares
WOLVERINE TRADING, LLC Reduced $2.6m14.1k shares
Twin Tree Management, LP Reduced $2.2m11.8k shares
BANK OF NOVA SCOTIA Added $282.6k1.5k shares
Squarepoint Ops LLC Reduced $207.5k1.1k shares
Walleye Trading LLC New $18.9k100 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 3,001,8483.0m $566.3m $566.3m 0.05% Reduced -240.8k -240,844
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 1,838,0231.8m $346.7m $346.7m 0.02% Added +48.9k +48,875
3 LPL Financial LLC 0.09% of their portfolio FORT MILL, SC 1,491,3831.5m $281.3m $281.3m 0.09% Added +380.2k +380,178
4 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 892,761892.8k $168.4m $168.4m 0.04% Added +53.5k +53,478
5 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 817,698817.7k $154.2m $154.2m 0.02% Added +438.3k +438,274
6 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 777,666777.7k $146.7m $146.7m 0.04% Added +53.7k +53,710
7 BNP PARIBAS FINANCIAL MARKETS 0.09% of their portfolio PARIS, I0 609,728609.7k $115.0m $115.0m 0.09% Added +450.7k +450,652
8 UBS Group AG 0.02% of their portfolio ZURICH, V8 606,132606.1k $114.3m $114.3m 0.02% Added +139 +139
9 RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio ST. PETERSBURG, FL 523,826523.8k $98.8m $98.8m 0.03% Added +73.1k +73,117
10 Rockefeller Capital Management L.P. 0.08% of their portfolio NEW YORK, NY 365,908365.9k $69.0m $69.0m 0.08% Added +193.0k +192,962
11 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 332,968333.0k $62.8m $62.8m 0.01% Reduced -91.7k -91,677
12 OSAIC HOLDINGS, INC. 0.10% of their portfolio SCOTTSDALE, AZ 305,500305.5k $57.6m $57.6m 0.10% Added +25.8k +25,789
13 COMMONWEALTH EQUITY SERVICES, LLC 0.08% of their portfolio WALTHAM, MA 303,804303.8k $57.3m $57.3m 0.08% Added +6.5k +6,502
14 MML INVESTORS SERVICES, LLC 0.15% of their portfolio SPRINGFIELD, MA 275,758275.8k $52.0m $52.0m 0.15% Added +58.8k +58,770
15 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 269,436269.4k $50.8m $50.8m 0.01% Added +42.2k +42,241
16 Cetera Investment Advisers 0.08% of their portfolio SCHAUMBURG, IL 253,938253.9k $47.9m $47.9m 0.08% Added +3.8k +3,771
17 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 209,712209.7k $39.6m $39.6m 0.04% Added +35.4k +35,354
18 HighTower Advisors, LLC 0.04% of their portfolio CHICAGO, IL 189,059189.1k $35.7m $35.7m 0.04% Added +9.5k +9,516
19 TRUIST FINANCIAL CORP 0.05% of their portfolio CHARLOTTE, NC 179,125179.1k $33.8m $33.8m 0.05% Added +19.4k +19,425
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 164,352164.4k $31.0m $31.0m 0.00% Reduced -38.6k -38,631
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 145,756145.8k $27.5m $27.5m 0.02% Added +5.7k +5,711
22 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.04% of their portfolio PLYMOUTH, MN 140,416140.4k $26.2m $26.2m 0.04% Added +6.8k +6,789
23 SPC Financial, Inc. 2.00% of their portfolio ROCKVILLE, MD 126,831126.8k $23.9m $23.9m 2.00% Reduced -4.1k -4,138
24 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 117,541117.5k $22.2m $22.2m 0.01% Added +104.3k +104,309
25 Janney Capital Management LLC 1.32% of their portfolio PITTSBURGH, PA 108,569108.6k $20.5m $20.5m 1.32% Reduced -3.0k -2,959
26 IFP Advisors, Inc 0.58% of their portfolio TAMPA, FL 108,474108.5k $20.5m $20.5m 0.58% Added +74.6k +74,644
27 Cambridge Investment Research Advisors, Inc. 0.06% of their portfolio FAIRFIELD, IA 105,336105.3k $19.9m $19.9m 0.06% Added +484 +484
28 Cadent Capital Advisors, LLC 6.36% of their portfolio TULSA, OK 103,004103.0k $19.4m $19.4m 6.36% Reduced -4.1k -4,107
29 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 87,52587.5k $16.5m $16.5m 0.03% Added +3.6k +3,579
30 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 86,23186.2k $16.3m $16.3m 0.01% Added +41.6k +41,631
31 MinichMacGregor Wealth Management, LLC 3.40% of their portfolio Saratoga Springs, NY 84,38784.4k $15.9m $15.9m 3.40% Added +1.1k +1,131
32 PRUDENTIAL PLC 0.09% of their portfolio LONDON, X0 82,30082.3k $15.5m $15.5m 0.09% New
33 Diversify Advisory Services, LLC 0.61% of their portfolio SANDY, UT 80,48780.5k $16.0m $16.0m 0.61% Added +3.6k +3,650
34 FERGUSON WELLMAN CAPITAL MANAGEMENT, INC 0.27% of their portfolio PORTLAND, OR 80,01180.0k $15.1m $15.1m 0.27% Reduced -2.7k -2,688
35 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 79,91179.9k $15.0m $15.0m 0.01% Added +19.0k +19,046
36 Advisory Services Network, LLC 0.24% of their portfolio ATLANTA, GA 77,18277.2k $15.2m $15.2m 0.24% Reduced -17.3k -17,278
37 Chicago Wealth Management, Inc. 6.78% of their portfolio CHICAGO, IL 75,45575.5k $14.2m $14.2m 6.78% Reduced -435 -435
38 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 71,18471.2k $13.4m $13.4m 0.01% Added +59.6k +59,582
39 SURIENCE PRIVATE WEALTH LLC 11.90% of their portfolio YAKIMA, WA 67,12767.1k $12.7m $12.7m 11.90% New
40 Prospera Financial Services Inc 0.23% of their portfolio Dallas, TX 66,78966.8k $12.6m $12.6m 0.23% Added +1.7k +1,703
41 AVANTAX ADVISORY SERVICES, INC. 0.07% of their portfolio DALLAS, TX 64,27464.3k $12.1m $12.1m 0.07% Added +14.5k +14,474
42 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 62,15762.2k $11.7m $11.7m 0.01% Added +29.8k +29,807
43 MERCER GLOBAL ADVISORS INC /ADV 0.03% of their portfolio DENVER, CO 59,84559.8k $11.3m $11.3m 0.03% Added +1.2k +1,248
44 BANK OF NOVA SCOTIA 0.02% of their portfolio TORONTO, A6 58,15658.2k $11.0m $11.0m 0.02% Added +47.7k +47,735
45 KADENSA CAPITAL Ltd 1.70% of their portfolio CENTRAL, K3 56,69356.7k $10.7m $10.7m 1.70% New
46 Steward Partners Investment Advisory, LLC 0.08% of their portfolio STAMFORD, CT 56,24356.2k $10.6m $10.6m 0.08% Added +20.1k +20,130
47 Janney Montgomery Scott LLC 0.03% of their portfolio PHILADELPHIA, PA 54,69254.7k $10.3m $10.3m 0.03% Added +2.5k +2,501
48 POTOMAC FUND MANAGEMENT INC /ADV 0.59% of their portfolio BETHESDA, MD 54,28654.3k $10.2m $10.2m 0.59% New
49 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 54,17254.2k $10.2m $10.2m 0.02% Added +35.5k +35,463
50 FOUNDERS FINANCIAL SECURITIES LLC 0.77% of their portfolio TOWSON, MD 53,89353.9k $10.2m $10.2m 0.77% Added +635 +635
51 Kestra Advisory Services, LLC 0.05% of their portfolio AUSTIN, TX 51,09251.1k $9.6m $9.6m 0.05% Added +2.0k +2,021
52 Ocean Park Asset Management, LLC 0.27% of their portfolio SANTA MONICA, CA 50,17750.2k $7.7m $7.7m 0.27% Unchanged
53 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 49,30149.3k $9.3m $9.3m 0.01% Added +21.8k +21,822
54 WealthCare Investment Partners, LLC 3.24% of their portfolio PORTSMOUTH, RI 48,22948.2k $9.0m $9.0m 3.24% Added +1.9k +1,941
55 INDEPENDENT FINANCIAL GROUP, LLC 0.24% of their portfolio SAN DIEGO, CA 46,80346.8k $8.8m $8.8m 0.24% Reduced -4.6k -4,593
56 Private Advisor Group, LLC 0.05% of their portfolio MORRISTOWN, NJ 45,77045.8k $8.6m $8.6m 0.05% Added +9.3k +9,292
57 ARRIEN INVESTMENTS, INC. 5.42% of their portfolio BOISE, ID 45,51045.5k $8.6m $8.6m 5.42% Reduced -817 -817
58 J.W. COLE ADVISORS, INC. 0.17% of their portfolio TAMPA, FL 43,33143.3k $8.2m $8.2m 0.17% Added +36.3k +36,268
59 Arkadios Wealth Advisors 0.24% of their portfolio ATLANTA, GA 43,16243.2k $8.1m $8.1m 0.24% Added +2.0k +2,018
60 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 41,12541.1k $7.8m $7.8m 0.02% Reduced -19.6k -19,551
61 Mariner, LLC 0.01% of their portfolio Overland Park, KS 40,50140.5k $7.6m $7.6m 0.01% Added +2.4k +2,412
62 Accurate Wealth Management, LLC 1.10% of their portfolio WESLEY CHAPEL, FL 37,98938.0k $7.2m $7.2m 1.10% New
63 Equitable Holdings, Inc. 0.06% of their portfolio NEW YORK, NY 37,35437.4k $7.0m $7.0m 0.06% Added +8.8k +8,792
64 OPPENHEIMER & CO INC 0.09% of their portfolio NEW YORK, NY 37,14137.1k $7.0m $7.0m 0.09% Reduced -1.7k -1,726
65 FOCUS Wealth Advisors, LLC 3.55% of their portfolio HOUSTON, TX 36,25336.3k $6.8m $6.8m 3.55% Reduced -137 -137
66 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 36,22336.2k $6.8m $6.8m 0.01% Reduced -41.3k -41,269
67 Atria Investments, Inc 0.08% of their portfolio Charlotte, NC 35,47835.5k $6.7m $6.7m 0.08% Reduced -1.6k -1,616
68 MRA Advisory Group 3.03% of their portfolio PARSIPPANY, NJ 34,29434.3k $6.5m $6.5m 3.03% Reduced -9 -9
69 Well Done, LLC 1.20% of their portfolio HOLLAND, MI 33,80933.8k $6.4m $6.4m 1.20% Added +513 +513
70 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 33,65133.7k $6.3m $6.3m 0.01% Reduced -649 -649
71 Federation des caisses Desjardins du Quebec 0.03% of their portfolio LEVIS, A8 32,80432.8k $6.2m $6.2m 0.03% Added +9.8k +9,780
72 Phoenix Financial Ltd. 0.08% of their portfolio Givatayim, L3 31,15831.2k $5.9m $5.9m 0.08% Added +2.6k +2,565
73 Stratos Wealth Partners, LTD. 0.08% of their portfolio BEACHWOOD, OH 30,69530.7k $5.8m $5.8m 0.08% Added +6.8k +6,807
74 BANQUE PICTET & CIE SA 0.06% of their portfolio GENEVA 73, V8 30,53530.5k $5.8m $5.8m 0.06% Unchanged
75 Yarbrough Capital, LLC 0.20% of their portfolio FRANKLIN, TN 30,39330.4k $5.7m $5.7m 0.20% Unchanged
76 5th Street Advisors, LLC 2.78% of their portfolio Southport, CT 29,72929.7k $5.6m $5.6m 2.78% Reduced -6.3k -6,255
77 Merit Financial Group, LLC 0.06% of their portfolio ALPHARETTA, GA 29,69329.7k $5.6m $5.6m 0.06% Added +4.1k +4,111
78 LITTLEJOHN FINANCIAL SERVICES, INC. 4.15% of their portfolio ROSEBURG, OR 28,45728.5k $5.4m $5.4m 4.15% Reduced -3.3k -3,282
79 PARAGON FINANCIAL PARTNERS, INC. 3.64% of their portfolio WOODLAND HILLS, CA 28,23928.2k $5.3m $5.3m 3.64% Added +16 +16
80 NewEdge Advisors, LLC 0.03% of their portfolio NEW ORLEANS, LA 28,13728.1k $5.3m $5.3m 0.03% Added +1.6k +1,552
81 BigSur Wealth Management LLC 1.33% of their portfolio MIAMI, FL 27,95328.0k $5.3m $5.3m 1.33% Reduced -800 -800
82 CWM, LLC 0.02% of their portfolio OMAHA, NE 27,85027.9k $5.3m $5.3m 0.02% Added +876 +876
83 CARY STREET PARTNERS FINANCIAL LLC 0.15% of their portfolio RICHMOND, VA 27,79527.8k $5.2m $5.2m 0.15% Added +25.0k +25,020
84 Bluesphere Advisors LLC 2.59% of their portfolio EAST NORRITON, PA 27,57427.6k $5.2m $5.2m 2.59% Reduced -5.3k -5,327
85 Tower Research Capital LLC (TRC) 0.14% of their portfolio NEW YORK, NY 27,56027.6k $5.2m $5.2m 0.14% Added +25.8k +25,767
86 Concurrent Investment Advisors, LLC 0.10% of their portfolio Tampa, FL 26,99727.0k $5.1m $5.1m 0.10% Added +7.3k +7,324
87 Financially Speaking Inc 3.32% of their portfolio GREENWOOD VILLAGE, CO 26,73726.7k $5.0m $5.0m 3.32% New
88 Ignite Planners, LLC 0.91% of their portfolio SAN CLEMENTE, CA 26,68726.7k $5.2m $5.2m 0.91% Added +4.3k +4,300
89 Principle Wealth Partners LLC 0.31% of their portfolio MADISON, CT 26,33226.3k $5.0m $5.0m 0.31% Reduced -998 -998
90 Geneos Wealth Management Inc. 0.12% of their portfolio ENGLEWOOD, CO 26,32626.3k $5.0m $5.0m 0.12% Reduced -29.3k -29,254
91 Richard Bernstein Advisors LLC 0.12% of their portfolio NEW YORK, NY 26,18626.2k $4.9m $4.9m 0.12% Reduced -21.0k -20,994
92 BCS Private Wealth Management, Inc. 1.82% of their portfolio RUMSON, NJ 25,72025.7k $4.9m $4.9m 1.82% First filing
93 TD Waterhouse Canada Inc. 0.03% of their portfolio TORONTO, A6 25,41425.4k $4.7m $4.7m 0.03% Reduced -1.6k -1,592
94 Fifth Third Securities, Inc. 0.36% of their portfolio Cincinnati, OH 25,12725.1k $4.7m $4.7m 0.36% Reduced -1.8k -1,758
95 WOLVERINE TRADING, LLC 0.12% of their portfolio CHICAGO, IL 24,89424.9k $4.7m $4.7m 0.12% Added +19.5k +19,453
96 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 24,84424.8k $4.7m $4.7m 0.01% Added +1.7k +1,688
97 Summit Financial, LLC 0.10% of their portfolio PARSIPPANY, NJ 24,19924.2k $4.6m $4.6m 0.10% Added +14.2k +14,192
98 Bristlecone Advisors, LLC 0.38% of their portfolio BELLEVUE, WA 23,71823.7k $4.5m $4.5m 0.38% Reduced -348 -348
99 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 23,25323.3k $4.4m $4.4m 0.01% Added +707 +707
100 VICUS CAPITAL 0.36% of their portfolio STATE COLLEGE, PA 22,97023.0k $4.3m $4.3m 0.36% Added +19.9k +19,915