Vault-13

ISHARES TR ITA

US AER DEF ETF · ETP · CUSIP 464288760

882 institutional holders +126 vs Q2 2025
33,511,34633.5m shares reported held*
$7.0bnreported value*
173 new 351 added 189 reduced 41 sold out net bought ≈ $2.8bn (+13.3m 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 ($9.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $209.28. Options: 10 managers hold calls ($134.8m notional), 10 hold puts ($109.0m).

Trends to Q3 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: 756Q3 25: 882882Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025882

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 23: 319 bought or addedQ4 23: 218 cut or sold outQ1 24: 247 bought or addedQ1 24: 278 cut or sold outQ1 24Q2 24: 273 bought or addedQ2 24: 235 cut or sold outQ3 24: 291 bought or addedQ3 24: 259 cut or sold outQ3 24Q4 24: 310 bought or addedQ4 24: 251 cut or sold outQ1 25: 276 bought or addedQ1 25: 317 cut or sold outQ1 25Q2 25: 363 bought or addedQ2 25: 256 cut or sold outQ3 25: 524 bought or addedQ3 25: 230 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023319218
Q1 2024247278
Q2 2024273235
Q3 2024291259
Q4 2024310251
Q1 2025276317
Q2 2025363256
Q3 2025524230

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ4 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 0.39Q3 25 calls: $134.8mQ3 25 puts: $109.0mQ3 25P/C 0.81
Numbers
QuarterCallsPutsP/C
Q4 2024$100.9m$62.8m0.62
Q1 2025$130.1m$80.0m0.61
Q2 2025$193.6m$75.9m0.39
Q3 2025$134.8m$109.0m0.81

Biggest buyers

ENVESTNET ASSET MANAGEMENT INC Added +4,510,762+4.5m
LPL Financial LLC Added +1,335,988+1.3m
MORGAN STANLEY Added +984,089+984.1k
JPMORGAN CHASE & CO Added +826,278+826.3k
PARK AVENUE SECURITIES LLC Added +462,031+462.0k
BlackRock, Inc. New +456,326+456.3k
CWM, LLC Added +409,618+409.6k
Envestnet Portfolio Solutions, Inc. Added +397,897+397.9k
MML INVESTORS SERVICES, LLC Added +374,394+374.4k
Cetera Investment Advisers Added +347,881+347.9k

Biggest sellers

ROYAL BANK OF CANADA Reduced -317,249-317.2k
BANK OF AMERICA CORP /DE/ Reduced -243,371-243.4k
Rockefeller Capital Management L.P. Reduced -182,510-182.5k
BARCLAYS PLC Reduced -72,202-72.2k
CITADEL ADVISORS LLC Sold out -71,184-71.2k
D. E. Shaw & Co., Inc. Sold out -62,157-62.2k
KADENSA CAPITAL Ltd Sold out -56,693-56.7k
Accurate Wealth Management, LLC Sold out -37,989-38.0k
GOLDMAN SACHS GROUP INC Reduced -33,489-33.5k
JANE STREET GROUP, LLC Reduced -30,700-30.7k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $36.9m176.5k shares
JANE STREET GROUP, LLC Added $31.2m149.1k shares
Twin Tree Management, LP Reduced $30.5m145.9k shares
CITADEL ADVISORS LLC Added $15.8m75.7k shares
Cubist Systematic Strategies, LLC Added $9.7m46.5k shares
WOLVERINE TRADING, LLC Added $4.3m21.0k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $3.5m16.6k shares
RAYMOND JAMES FINANCIAL INC New $1.6m7.4k shares
Squarepoint Ops LLC Added $899.8k4.3k shares
Belvedere Trading LLC Unchanged $334.8k1.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $53.2m254.2k shares
Cubist Systematic Strategies, LLC Added $19.3m92.2k shares
JANE STREET GROUP, LLC Added $11.2m53.6k shares
CITADEL ADVISORS LLC Reduced $7.7m36.8k shares
MIRAE ASSET SECURITIES (USA) INC. New $5.2m25.0k shares
CAPITAL FUND MANAGEMENT S.A. Added $5.2m24.8k shares
WOLVERINE TRADING, LLC Added $3.3m16.2k shares
Walleye Trading LLC Added $2.6m12.3k shares
Squarepoint Ops LLC Added $920.7k4.4k shares
BANK OF NOVA SCOTIA Unchanged $313.5k1.5k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 0.29% of their portfolio Berwyn, PA 4,780,1984.8m $1.0bn $1.0bn 0.29% Added +4.5m +4,510,762
2 LPL Financial LLC 0.17% of their portfolio FORT MILL, SC 2,827,3712.8m $591.7m $591.7m 0.17% Added +1.3m +1,335,988
3 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 2,822,1122.8m $590.6m $590.6m 0.04% Added +984.1k +984,089
4 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 2,758,4772.8m $577.2m $577.2m 0.04% Reduced -243.4k -243,371
5 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 1,122,3871.1m $234.9m $234.9m 0.05% Added +229.6k +229,626
6 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 990,630990.6k $207.3m $207.3m 0.01% Added +826.3k +826,278
7 BNP PARIBAS FINANCIAL MARKETS 0.15% of their portfolio PARIS, I0 912,502912.5k $191.0m $191.0m 0.15% Added +302.8k +302,774
8 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 877,965878.0k $183.7m $183.7m 0.04% Added +100.3k +100,299
9 UBS Group AG 0.03% of their portfolio ZURICH, V8 728,077728.1k $152.4m $152.4m 0.03% Added +121.9k +121,945
10 MML INVESTORS SERVICES, LLC 0.36% of their portfolio SPRINGFIELD, MA 650,152650.2k $136.1m $136.1m 0.36% Added +374.4k +374,394
11 Cetera Investment Advisers 0.15% of their portfolio SCHAUMBURG, IL 601,819601.8k $125.9m $125.9m 0.15% Added +347.9k +347,881
12 RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio ST. PETERSBURG, FL 596,044596.0k $124.7m $124.7m 0.04% Added +72.2k +72,218
13 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 500,449500.4k $104.7m $104.7m 0.02% Reduced -317.2k -317,249
14 PARK AVENUE SECURITIES LLC 0.79% of their portfolio NEW YORK, NY 483,301483.3k $101.1m $101.1m 0.79% Added +462.0k +462,031
15 BlackRock, Inc. 0.00% of their portfolio New York, NY 456,326456.3k $95.5m $95.5m 0.00% New
16 CWM, LLC 0.28% of their portfolio OMAHA, NE 437,468437.5k $91.5m $91.5m 0.28% Added +409.6k +409,618
17 Envestnet Portfolio Solutions, Inc. 0.31% of their portfolio BERWYN, PA 402,305402.3k $84.2m $84.2m 0.31% Added +397.9k +397,897
18 COMMONWEALTH EQUITY SERVICES, LLC 0.11% of their portfolio WALTHAM, MA 389,656389.7k $81.5m $81.5m 0.11% Added +85.9k +85,852
19 OSAIC HOLDINGS, INC. 0.10% of their portfolio SCOTTSDALE, AZ 364,377364.4k $73.6m $73.6m 0.10% Added +58.9k +58,877
20 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 318,576318.6k $66.7m $66.7m 0.06% Added +108.9k +108,864
21 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 299,479299.5k $62.7m $62.7m 0.01% Reduced -33.5k -33,489
22 Janney Montgomery Scott LLC 0.13% of their portfolio PHILADELPHIA, PA 267,896267.9k $56.1m $56.1m 0.13% Added +213.2k +213,204
23 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 229,015229.0k $47.9m $47.9m 0.06% Added +49.9k +49,890
24 HighTower Advisors, LLC 0.05% of their portfolio CHICAGO, IL 195,957196.0k $41.0m $41.0m 0.05% Added +6.9k +6,898
25 CITIGROUP INC 0.03% of their portfolio NEW YORK, NY 195,254195.3k $40.9m $40.9m 0.03% Added +146.0k +145,953
26 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 194,676194.7k $40.7m $40.7m 0.03% Added +48.9k +48,920
27 Rockefeller Capital Management L.P. 0.08% of their portfolio NEW YORK, NY 183,398183.4k $38.4m $38.4m 0.08% Reduced -182.5k -182,510
28 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 167,881167.9k $35.1m $35.1m 0.01% Added +164.0k +163,991
29 Foundations Investment Advisors, LLC 0.51% of their portfolio PHOENIX, AZ 166,918166.9k $34.9m $34.9m 0.51% New
30 JB Capital LLC 1.43% of their portfolio WETHERSFIELD, CT 158,190158.2k $33.1m $33.1m 1.43% New
31 NewEdge Advisors, LLC 0.15% of their portfolio NEW ORLEANS, LA 154,564154.6k $32.3m $32.3m 0.15% Added +126.4k +126,427
32 Cambridge Investment Research Advisors, Inc. 0.09% of their portfolio FAIRFIELD, IA 150,409150.4k $31.5m $31.5m 0.09% Added +45.1k +45,073
33 SPC Financial, Inc. 2.44% of their portfolio ROCKVILLE, MD 149,415149.4k $31.3m $31.3m 2.44% Added +22.6k +22,584
34 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.05% of their portfolio PLYMOUTH, MN 143,684143.7k $30.6m $30.6m 0.05% Added +3.3k +3,268
35 Aptus Capital Advisors, LLC 0.27% of their portfolio FAIRHOPE, AL 142,509142.5k $29.8m $29.8m 0.27% Added +141.5k +141,500
36 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 124,953125.0k $26.1m $26.1m 0.01% Added +7.4k +7,412
37 IFP Advisors, Inc 0.62% of their portfolio TAMPA, FL 114,181114.2k $23.9m $23.9m 0.62% Added +5.7k +5,707
38 McElhenny Sheffield Capital Management, LLC 5.40% of their portfolio DALLAS, TX 108,981109.0k $22.8m $22.8m 5.40% New
39 Quadrature Capital Ltd 0.27% of their portfolio LONDON, X0 108,837108.8k $22.8m $22.8m 0.27% New
40 Janney Capital Management LLC 1.38% of their portfolio PITTSBURGH, PA 106,211106.2k $22.2m $22.2m 1.38% Reduced -2.4k -2,358
41 MinichMacGregor Wealth Management, LLC 4.29% of their portfolio Saratoga Springs, NY 105,210105.2k $22.0m $22.0m 4.29% Added +20.8k +20,823
42 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.15% of their portfolio IRVING, TX 100,730100.7k $21.1m $21.1m 0.15% Added +99.3k +99,284
43 Cadent Capital Advisors, LLC 5.55% of their portfolio TULSA, OK 100,014100.0k $20.9m $20.9m 5.55% Reduced -3.0k -2,990
44 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 98,35098.3k $20.2m $20.2m 0.01% Added +18.4k +18,439
45 Advisory Services Network, LLC 0.29% of their portfolio ATLANTA, GA 94,74794.7k $19.8m $19.8m 0.29% Added +17.6k +17,565
46 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 92,47692.5k $19.4m $19.4m 0.03% Added +5.0k +4,951
47 Ocean Park Asset Management, LLC 0.78% of their portfolio SANTA MONICA, CA 90,84490.8k $19.0m $19.0m 0.78% Added +40.7k +40,667
48 Atria Investments, Inc 0.22% of their portfolio Charlotte, NC 90,40490.4k $18.9m $18.9m 0.22% Added +54.9k +54,926
49 Diversify Advisory Services, LLC 0.60% of their portfolio SANDY, UT 83,26183.3k $17.9m $17.9m 0.60% Added +2.8k +2,774
50 Sanctuary Advisors, LLC 0.05% of their portfolio INDIANAPOLIS, IN 78,96479.0k $15.3m $15.3m 0.05% Added +57.4k +57,362
51 PRUDENTIAL PLC 0.12% of their portfolio LONDON, X0 76,30076.3k $16.0m $16.0m 0.12% Reduced -6.0k -6,000
52 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 75,63575.6k $15.8m $15.8m 0.03% Added +34.5k +34,510
53 Chicago Wealth Management, Inc. 6.84% of their portfolio CHICAGO, IL 74,99975.0k $15.7m $15.7m 6.84% Reduced -456 -456
54 Steward Partners Investment Advisory, LLC 0.09% of their portfolio STAMFORD, CT 74,64374.6k $15.6m $15.6m 0.09% Added +18.4k +18,400
55 FERGUSON WELLMAN CAPITAL MANAGEMENT, INC 0.25% of their portfolio PORTLAND, OR 74,25574.3k $15.5m $15.5m 0.25% Reduced -5.8k -5,756
56 Equitable Holdings, Inc. 0.11% of their portfolio NEW YORK, NY 71,53571.5k $15.0m $15.0m 0.11% Added +34.2k +34,181
57 TD Waterhouse Canada Inc. 0.09% of their portfolio TORONTO, A6 68,75668.8k $14.4m $14.4m 0.09% Added +43.3k +43,342
58 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 65,46765.5k $13.7m $13.7m 0.02% Added +5.6k +5,622
59 Prospera Financial Services Inc 0.23% of their portfolio Dallas, TX 65,08465.1k $13.6m $13.6m 0.23% Reduced -1.7k -1,705
60 SURIENCE PRIVATE WEALTH LLC 12.78% of their portfolio YAKIMA, WA 64,52764.5k $13.5m $13.5m 12.78% Reduced -2.6k -2,600
61 Kestra Advisory Services, LLC 0.06% of their portfolio AUSTIN, TX 63,30463.3k $13.2m $13.2m 0.06% Added +12.2k +12,212
62 Stratos Wealth Partners, LTD. 0.15% of their portfolio BEACHWOOD, OH 60,21860.2k $12.6m $12.6m 0.15% Added +29.5k +29,523
63 POTOMAC FUND MANAGEMENT INC /ADV 0.52% of their portfolio BETHESDA, MD 58,68658.7k $12.3m $12.3m 0.52% Added +4.4k +4,400
64 Private Advisor Group, LLC 0.06% of their portfolio MORRISTOWN, NJ 54,41854.4k $11.4m $11.4m 0.06% Added +8.6k +8,648
65 INDEPENDENT FINANCIAL GROUP, LLC 0.27% of their portfolio SAN DIEGO, CA 52,98453.0k $11.1m $11.1m 0.27% Added +6.2k +6,181
66 Icon Wealth Advisors, LLC 0.74% of their portfolio HOUSTON, TX 52,27352.3k $10.9m $10.9m 0.74% Added +51.0k +50,985
67 FOUNDERS FINANCIAL SECURITIES LLC 0.73% of their portfolio TOWSON, MD 51,62851.6k $10.8m $10.8m 0.73% Reduced -2.3k -2,265
68 Mariner, LLC 0.01% of their portfolio Overland Park, KS 50,91850.9k $10.7m $10.7m 0.01% Added +10.4k +10,417
69 WealthCare Investment Partners, LLC 3.45% of their portfolio PORTSMOUTH, RI 50,78250.8k $10.6m $10.6m 3.45% Added +2.6k +2,553
70 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 50,11850.1k $10.5m $10.5m 0.01% Added +39.8k +39,833
71 J.W. COLE ADVISORS, INC. 0.19% of their portfolio TAMPA, FL 48,00448.0k $10.0m $10.0m 0.19% Added +4.7k +4,673
72 Orion Porfolio Solutions, LLC 0.07% of their portfolio OMAHA, NE 45,33845.3k $9.5m $9.5m 0.07% Added +25.8k +25,807
73 Merit Financial Group, LLC 0.09% of their portfolio ALPHARETTA, GA 44,39844.4k $9.3m $9.3m 0.09% Added +14.7k +14,705
74 ARRIEN INVESTMENTS, INC. 5.30% of their portfolio BOISE, ID 43,27443.3k $9.1m $9.1m 5.30% Reduced -2.2k -2,236
75 Trek Financial, LLC 0.52% of their portfolio Scottsdale, AZ 42,12542.1k $8.8m $8.8m 0.52% New
76 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 41,04341.0k $8.6m $8.6m 0.01% Added +4.8k +4,820
77 Phoenix Financial Ltd. 0.05% of their portfolio Givatayim, L3 39,24239.2k $8.2m $8.2m 0.05% Added +8.1k +8,084
78 J. Goldman & Co LP 0.31% of their portfolio NEW YORK, NY 39,05439.1k $8.2m $8.2m 0.31% New
79 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 36,54236.5k $7.6m $7.6m 0.01% Added +2.9k +2,891
80 OPPENHEIMER & CO INC 0.09% of their portfolio NEW YORK, NY 36,51636.5k $7.6m $7.6m 0.09% Reduced -625 -625
81 FOCUS Wealth Advisors, LLC 3.61% of their portfolio HOUSTON, TX 35,91335.9k $7.5m $7.5m 3.61% Reduced -340 -340
82 Arkadios Wealth Advisors 0.18% of their portfolio ATLANTA, GA 35,85535.9k $7.5m $7.5m 0.18% Reduced -7.3k -7,307
83 Concurrent Investment Advisors, LLC 0.13% of their portfolio Tampa, FL 35,66035.7k $7.5m $7.5m 0.13% Added +8.7k +8,663
84 MRA Advisory Group 3.23% of their portfolio PARSIPPANY, NJ 35,33935.3k $7.4m $7.4m 3.23% Added +1.0k +1,045
85 Well Done, LLC 1.25% of their portfolio HOLLAND, MI 35,16535.2k $7.4m $7.4m 1.25% Added +1.4k +1,356
86 Federation des caisses Desjardins du Quebec 0.03% of their portfolio LEVIS, A8 35,09735.1k $7.3m $7.3m 0.03% Added +2.3k +2,293
87 SteelPeak Wealth, LLC 0.24% of their portfolio WOODLAND HILLS, CA 33,53433.5k $7.0m $7.0m 0.24% New
88 SCOTIA CAPITAL INC. 0.03% of their portfolio TORONTO, A6 32,32232.3k $6.8m $6.8m 0.03% Added +9.5k +9,487
89 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 32,02632.0k $6.7m $6.7m 0.01% Reduced -26.1k -26,130
90 VestGen Advisors, LLC 0.21% of their portfolio CHICAGO, IL 30,56330.6k $6.4m $6.4m 0.21% Added +15.5k +15,482
91 Yarbrough Capital, LLC 0.20% of their portfolio FRANKLIN, TN 30,39330.4k $6.4m $6.4m 0.20% Unchanged
92 5th Street Advisors, LLC 3.07% of their portfolio Southport, CT 29,63329.6k $6.2m $6.2m 3.07% Reduced -96 -96
93 Integrated Wealth Concepts LLC 0.05% of their portfolio WALTHAM, MA 28,99629.0k $6.1m $6.1m 0.05% Added +9.5k +9,481
94 PARAGON FINANCIAL PARTNERS, INC. 3.74% of their portfolio WOODLAND HILLS, CA 28,30328.3k $5.9m $5.9m 3.74% Added +64 +64
95 Stonegate Management LLC 3.88% of their portfolio LAKE FOREST, IL 27,95828.0k $5.9m $5.9m 3.88% Not comparable
96 WEALTH ALLIANCE, LLC 0.60% of their portfolio MELLVILLE, NY 27,91727.9k $5.8m $5.8m 0.60% Added +24.6k +24,608
97 Ignite Planners, LLC 0.96% of their portfolio SAN CLEMENTE, CA 27,88127.9k $5.8m $5.8m 0.96% Added +1.2k +1,194
98 BCS Private Wealth Management, Inc. 2.01% of their portfolio RUMSON, NJ 26,86526.9k $5.6m $5.6m 2.01% Added +1.1k +1,145
99 Bluesphere Advisors LLC 2.55% of their portfolio EAST NORRITON, PA 26,59426.6k $5.6m $5.6m 2.55% Reduced -980 -980
100 LITTLEJOHN FINANCIAL SERVICES, INC. 4.05% of their portfolio ROSEBURG, OR 26,51926.5k $5.5m $5.5m 4.05% Reduced -1.9k -1,938