Vault-13

ISHARES TR ITA

US AER DEF ETF · ETP · CUSIP 464288760

991 institutional holders +109 vs Q3 2025
36,088,38536.1m shares reported held*
$7.4bnreported value*
101 new 364 added 247 reduced 43 sold out net bought ≈ $203.4m (+2.4m 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 ($5.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $206.12. Options: 8 managers hold calls ($57.5m notional), 8 hold puts ($108.6m).

Trends to Q4 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: 882Q4 25: 991991Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025991

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ1 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 25Q3 25: 524 bought or addedQ3 25: 230 cut or sold outQ4 25: 465 bought or addedQ4 25: 290 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024247278
Q2 2024273235
Q3 2024291259
Q4 2024310251
Q1 2025276317
Q2 2025363256
Q3 2025524230
Q4 2025465290

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ1 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 0.81Q4 25 calls: $57.5mQ4 25 puts: $108.6mQ4 25P/C 1.89
Numbers
QuarterCallsPutsP/C
Q1 2025$130.1m$80.0m0.61
Q2 2025$193.6m$75.9m0.39
Q3 2025$134.8m$109.0m0.81
Q4 2025$57.5m$108.6m1.89

Biggest buyers

BAROMETER CAPITAL MANAGEMENT INC. Added +1,568,590+1.6m
LPL Financial LLC Added +325,026+325.0k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +236,672+236.7k
Dynasty Wealth Management, LLC New +222,279+222.3k
MORGAN STANLEY Added +171,385+171.4k
WELLS FARGO & COMPANY/MN Added +148,199+148.2k
AlphaCore Capital LLC Added +143,122+143.1k
BANK OF AMERICA CORP /DE/ Added +134,695+134.7k
RAYMOND JAMES FINANCIAL INC Added +121,872+121.9k
Quadrature Capital Ltd Added +111,046+111.0k

Biggest sellers

BNP PARIBAS FINANCIAL MARKETS Reduced -649,796-649.8k
JPMORGAN CHASE & CO Reduced -307,415-307.4k
Aptus Capital Advisors, LLC Reduced -138,661-138.7k
McElhenny Sheffield Capital Management, LLC Sold out -108,981-109.0k
AMERIPRISE FINANCIAL INC Reduced -105,587-105.6k
GOLDMAN SACHS GROUP INC Reduced -102,285-102.3k
UBS Group AG Reduced -83,959-84.0k
Ocean Park Asset Management, LLC Reduced -72,714-72.7k
SURIENCE PRIVATE WEALTH LLC Sold out -64,527-64.5k
ENVESTNET ASSET MANAGEMENT INC Reduced -64,223-64.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $20.5m95.3k shares
Point72 Asset Management, L.P. New $14.0m65.3k shares
CITADEL ADVISORS LLC Reduced $10.2m47.4k shares
Squarepoint Ops LLC Added $5.8m26.9k shares
JANE STREET GROUP, LLC Reduced $5.5m25.6k shares
RAYMOND JAMES FINANCIAL INC Unchanged $1.6m7.4k shares
Belvedere Trading LLC Reduced $42.9k200 shares
Main Street Financial Solutions, LLC New $2.6k500 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $51.0m237.7k shares
Point72 Asset Management, L.P. New $27.1m126.0k shares
JANE STREET GROUP, LLC Added $19.3m90.1k shares
CITADEL ADVISORS LLC Reduced $6.7m31.2k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $3.7m17.4k shares
Squarepoint Ops LLC Reduced $450.8k2.1k shares
Walleye Trading LLC Reduced $322.0k1.5k shares
Main Street Financial Solutions, LLC New $1.6k1.5k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 0.30% of their portfolio Berwyn, PA 4,715,9754.7m $1.0bn $1.0bn 0.30% Reduced -64.2k -64,223
2 LPL Financial LLC 0.19% of their portfolio FORT MILL, SC 3,152,3973.2m $676.8m $676.8m 0.19% Added +325.0k +325,026
3 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 2,993,4973.0m $642.7m $642.7m 0.04% Added +171.4k +171,385
4 BANK OF AMERICA CORP /DE/ 0.05% of their portfolio CHARLOTTE, NC 2,893,1722.9m $621.1m $621.1m 0.05% Added +134.7k +134,695
5 BAROMETER CAPITAL MANAGEMENT INC. 4.43% of their portfolio TORONTO, A6 1,569,3801.6m $18.4m $18.4m 4.43% Added +1.6m +1,568,590
6 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 1,270,5861.3m $272.8m $272.8m 0.05% Added +148.2k +148,199
7 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 772,378772.4k $165.8m $165.8m 0.04% Reduced -105.6k -105,587
8 MML INVESTORS SERVICES, LLC 0.38% of their portfolio SPRINGFIELD, MA 725,035725.0k $155.7m $155.7m 0.38% Added +74.9k +74,883
9 RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio ST. PETERSBURG, FL 717,916717.9k $154.1m $154.1m 0.05% Added +121.9k +121,872
10 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 683,215683.2k $146.7m $146.7m 0.01% Reduced -307.4k -307,415
11 UBS Group AG 0.03% of their portfolio ZURICH, V8 644,118644.1k $138.3m $138.3m 0.03% Reduced -84.0k -83,959
12 Cetera Investment Advisers 0.15% of their portfolio SCHAUMBURG, IL 633,619633.6k $136.0m $136.0m 0.15% Added +31.8k +31,800
13 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 499,801499.8k $107.3m $107.3m 0.02% Reduced -648 -648
14 PARK AVENUE SECURITIES LLC 0.90% of their portfolio NEW YORK, NY 492,214492.2k $105.7m $105.7m 0.90% Added +8.9k +8,913
15 BlackRock, Inc. 0.00% of their portfolio New York, NY 461,396461.4k $99.1m $99.1m 0.00% Added +5.1k +5,070
16 CWM, LLC 0.26% of their portfolio OMAHA, NE 453,853453.9k $97.4m $97.4m 0.26% Added +16.4k +16,385
17 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 431,348431.3k $92.6m $92.6m 0.06% Added +236.7k +236,672
18 COMMONWEALTH EQUITY SERVICES, LLC 0.12% of their portfolio WALTHAM, MA 426,033426.0k $91.5m $91.5m 0.12% Added +36.4k +36,377
19 OSAIC HOLDINGS, INC. 0.13% of their portfolio SCOTTSDALE, AZ 421,258421.3k $90.5m $90.5m 0.13% Added +56.9k +56,881
20 Envestnet Portfolio Solutions, Inc. 0.32% of their portfolio BERWYN, PA 419,163419.2k $90.0m $90.0m 0.32% Added +16.9k +16,858
21 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 323,750323.8k $69.5m $69.5m 0.06% Added +5.2k +5,174
22 Janney Montgomery Scott LLC 0.14% of their portfolio PHILADELPHIA, PA 283,487283.5k $60.9m $60.9m 0.14% Added +15.6k +15,591
23 BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio PARIS, I0 262,706262.7k $56.4m $56.4m 0.04% Reduced -649.8k -649,796
24 TRUIST FINANCIAL CORP 0.07% of their portfolio CHARLOTTE, NC 232,863232.9k $50.0m $50.0m 0.07% Added +3.8k +3,848
25 Dynasty Wealth Management, LLC 0.47% of their portfolio ST. PETERSBURG, FL 222,279222.3k $47.7m $47.7m 0.47% New
26 Quadrature Capital Ltd 0.48% of their portfolio LONDON, X0 219,883219.9k $47.2m $47.2m 0.48% Added +111.0k +111,046
27 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 197,194197.2k $42.3m $42.3m 0.01% Reduced -102.3k -102,285
28 Rockefeller Capital Management L.P. 0.07% of their portfolio NEW YORK, NY 189,484189.5k $40.7m $40.7m 0.07% Added +6.1k +6,086
29 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 180,402180.4k $38.7m $38.7m 0.01% Added +12.5k +12,521
30 Foundations Investment Advisors, LLC 0.50% of their portfolio PHOENIX, AZ 175,822175.8k $37.7m $37.7m 0.50% Added +8.9k +8,904
31 HighTower Advisors, LLC 0.04% of their portfolio CHICAGO, IL 174,700174.7k $37.5m $37.5m 0.04% Reduced -21.3k -21,257
32 CITIGROUP INC 0.03% of their portfolio NEW YORK, NY 174,345174.3k $37.4m $37.4m 0.03% Reduced -20.9k -20,909
33 Cambridge Investment Research Advisors, Inc. 0.10% of their portfolio FAIRFIELD, IA 168,136168.1k $36.1m $36.1m 0.10% Added +17.7k +17,727
34 JB Capital LLC 1.40% of their portfolio WETHERSFIELD, CT 160,217160.2k $34.4m $34.4m 1.40% Added +2.0k +2,027
35 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.05% of their portfolio PLYMOUTH, MN 152,196152.2k $35.0m $35.0m 0.05% Added +8.5k +8,512
36 NewEdge Advisors, LLC 0.12% of their portfolio NEW ORLEANS, LA 151,110151.1k $32.4m $32.4m 0.12% Reduced -3.5k -3,454
37 AlphaCore Capital LLC 0.69% of their portfolio LA JOLLA, CA 143,372143.4k $30.8m $30.8m 0.69% Added +143.1k +143,122
38 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 137,433137.4k $29.5m $29.5m 0.01% Added +12.5k +12,480
39 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 130,775130.8k $28.1m $28.1m 0.02% Added +32.4k +32,425
40 IFP Advisors, Inc 0.55% of their portfolio TAMPA, FL 113,629113.6k $24.4m $24.4m 0.55% Reduced -552 -552
41 OpenArc Corporate Advisory, LLC 0.40% of their portfolio ATLANTA, GA 113,293113.3k $24.3m $24.3m 0.40% First filing
42 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.14% of their portfolio IRVING, TX 105,433105.4k $22.6m $22.6m 0.14% Added +4.7k +4,703
43 MinichMacGregor Wealth Management, LLC 4.08% of their portfolio Saratoga Springs, NY 104,845104.8k $22.5m $22.5m 4.08% Reduced -365 -365
44 Janney Capital Management LLC 1.41% of their portfolio PITTSBURGH, PA 104,562104.6k $22.4m $22.4m 1.41% Reduced -1.6k -1,649
45 SAGESPRING WEALTH PARTNERS, LLC 0.40% of their portfolio FRANKLIN, TN 101,887101.9k $21.9m $21.9m 0.40% New
46 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 99,958100.0k $21.5m $21.5m 0.03% Added +7.5k +7,482
47 Equitable Holdings, Inc. 0.14% of their portfolio NEW YORK, NY 96,82696.8k $20.8m $20.8m 0.14% Added +25.3k +25,291
48 Cadent Capital Advisors, LLC 5.46% of their portfolio TULSA, OK 96,28896.3k $20.7m $20.7m 5.46% Reduced -3.7k -3,726
49 Advisory Services Network, LLC 0.29% of their portfolio ATLANTA, GA 94,23994.2k $20.2m $20.2m 0.29% Reduced -508 -508
50 Atria Investments, Inc 0.23% of their portfolio Charlotte, NC 92,75692.8k $19.9m $19.9m 0.23% Added +2.4k +2,352
51 Steward Partners Investment Advisory, LLC 0.11% of their portfolio STAMFORD, CT 90,66590.7k $19.5m $19.5m 0.11% Added +16.0k +16,022
52 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 90,22490.2k $19.5m $19.5m 0.03% Added +14.6k +14,589
53 Mariner, LLC 0.02% of their portfolio Overland Park, KS 85,76985.8k $18.4m $18.4m 0.02% Added +34.9k +34,851
54 Diversify Advisory Services, LLC 0.65% of their portfolio SANDY, UT 84,44484.4k $20.6m $20.6m 0.65% Added +1.2k +1,183
55 TD Waterhouse Canada Inc. 0.11% of their portfolio TORONTO, A6 82,76382.8k $17.7m $17.7m 0.11% Added +14.0k +14,007
56 Chicago Wealth Management, Inc. 6.49% of their portfolio CHICAGO, IL 75,24475.2k $16.2m $16.2m 6.49% Added +245 +245
57 Stratos Wealth Partners, LTD. 0.18% of their portfolio BEACHWOOD, OH 74,29774.3k $16.0m $16.0m 0.18% Added +14.1k +14,079
58 Kestra Advisory Services, LLC 0.06% of their portfolio AUSTIN, TX 70,04470.0k $15.0m $15.0m 0.06% Added +6.7k +6,740
59 FERGUSON WELLMAN CAPITAL MANAGEMENT, INC 0.23% of their portfolio PORTLAND, OR 68,10268.1k $14.6m $14.6m 0.23% Reduced -6.2k -6,153
60 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 67,63067.6k $14.5m $14.5m 0.02% Added +2.2k +2,163
61 Prospera Financial Services Inc 0.24% of their portfolio Dallas, TX 67,12867.1k $14.4m $14.4m 0.24% Added +2.0k +2,044
62 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 63,72263.7k $13.7m $13.7m 0.01% Added +56.7k +56,746
63 Sanctuary Advisors, LLC 0.07% of their portfolio INDIANAPOLIS, IN 62,91262.9k $13.5m $13.5m 0.07% Reduced -16.1k -16,052
64 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 58,16758.2k $12.5m $12.5m 0.01% Added +34.7k +34,695
65 Private Advisor Group, LLC 0.06% of their portfolio MORRISTOWN, NJ 57,60357.6k $12.4m $12.4m 0.06% Added +3.2k +3,185
66 FOUNDERS FINANCIAL SECURITIES LLC 0.73% of their portfolio TOWSON, MD 57,49057.5k $12.3m $12.3m 0.73% Added +5.9k +5,862
67 INDEPENDENT FINANCIAL GROUP, LLC 0.26% of their portfolio SAN DIEGO, CA 54,86654.9k $11.8m $11.8m 0.26% Added +1.9k +1,882
68 Icon Wealth Advisors, LLC 0.78% of their portfolio HOUSTON, TX 54,57454.6k $11.7m $11.7m 0.78% Added +2.3k +2,301
69 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 52,56452.6k $11.3m $11.3m 0.01% Added +2.4k +2,446
70 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 52,07952.1k $11.2m $11.2m 0.01% New
71 WealthCare Investment Partners, LLC 3.36% of their portfolio PORTSMOUTH, RI 51,99852.0k $11.5m $11.5m 3.36% Added +1.2k +1,216
72 Merit Financial Group, LLC 0.09% of their portfolio ALPHARETTA, GA 51,65451.7k $11.1m $11.1m 0.09% Added +7.3k +7,256
73 Orion Porfolio Solutions, LLC 0.08% of their portfolio OMAHA, NE 50,10350.1k $10.8m $10.8m 0.08% Added +4.8k +4,765
74 Concurrent Investment Advisors, LLC 0.11% of their portfolio Tampa, FL 44,80644.8k $9.6m $9.6m 0.11% Added +9.1k +9,146
75 Arkadios Wealth Advisors 0.17% of their portfolio ATLANTA, GA 39,66439.7k $8.5m $8.5m 0.17% Added +3.8k +3,809
76 Well Done, LLC 1.25% of their portfolio HOLLAND, MI 39,01239.0k $8.4m $8.4m 1.25% Added +3.8k +3,847
77 PRUDENTIAL PLC 0.06% of their portfolio LONDON, X0 37,80037.8k $8.1m $8.1m 0.06% Reduced -38.5k -38,500
78 GTS SECURITIES LLC 0.28% of their portfolio NEW YORK, NY 37,76137.8k $8.1m $8.1m 0.28% Added +28.8k +28,767
79 MRA Advisory Group 3.39% of their portfolio PARSIPPANY, NJ 37,63337.6k $8.1m $8.1m 3.39% Added +2.3k +2,294
80 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 37,60237.6k $8.1m $8.1m 0.01% Added +1.1k +1,060
81 SCOTIA CAPITAL INC. 0.03% of their portfolio TORONTO, A6 37,12237.1k $8.0m $8.0m 0.03% Added +4.8k +4,800
82 J.W. COLE ADVISORS, INC. 0.10% of their portfolio TAMPA, FL 37,03737.0k $4.3m $4.3m 0.10% Reduced -11.0k -10,967
83 OPPENHEIMER & CO INC 0.11% of their portfolio NEW YORK, NY 36,96137.0k $7.9m $7.9m 0.11% Added +445 +445
84 Integrated Wealth Concepts LLC 0.09% of their portfolio WALTHAM, MA 36,44536.4k $7.8m $7.8m 0.09% Added +7.4k +7,449
85 FOCUS Wealth Advisors, LLC 3.55% of their portfolio HOUSTON, TX 35,51135.5k $7.6m $7.6m 3.55% Reduced -402 -402
86 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 33,71133.7k $7.2m $7.2m 0.01% Reduced -7.3k -7,332
87 Ignite Planners, LLC 1.19% of their portfolio SAN CLEMENTE, CA 33,37333.4k $7.8m $7.8m 1.19% Added +5.5k +5,492
88 WCG Wealth Advisors LLC 0.20% of their portfolio LAS VEGAS, NV 33,35033.4k $7.2m $7.2m 0.20% Added +11.2k +11,157
89 ARRIEN INVESTMENTS, INC. 4.02% of their portfolio BOISE, ID 33,16633.2k $7.1m $7.1m 4.02% Reduced -10.1k -10,108
90 SteelPeak Wealth, LLC 0.23% of their portfolio WOODLAND HILLS, CA 33,05033.0k $7.1m $7.1m 0.23% Reduced -484 -484
91 PRINCIPAL SECURITIES, INC. 0.11% of their portfolio DES MOINES, IA 32,31232.3k $6.9m $6.9m 0.11% Added +11.0k +10,982
92 INTEGRITY ALLIANCE, LLC. 0.25% of their portfolio Urbandale, IA 31,91431.9k $6.9m $6.9m 0.25% Added +27.9k +27,881
93 NorthRock Partners, LLC 0.11% of their portfolio MINNEAPOLIS, MN 31,58031.6k $6.8m $6.8m 0.11% Added +15.6k +15,551
94 Federation des caisses Desjardins du Quebec 0.03% of their portfolio LEVIS, A8 30,82730.8k $6.6m $6.6m 0.03% Reduced -4.3k -4,270
95 Yarbrough Capital, LLC 0.20% of their portfolio FRANKLIN, TN 30,39330.4k $6.5m $6.5m 0.20% Unchanged
96 Apollon Wealth Management, LLC 0.11% of their portfolio MOUNT PLEASANT, SC 30,06030.1k $6.5m $6.5m 0.11% Added +8.6k +8,559
97 Western Wealth Management, LLC 0.30% of their portfolio GOLDEN, CO 29,93529.9k $6.4m $6.4m 0.30% Added +18.7k +18,737
98 5th Street Advisors, LLC 2.91% of their portfolio Southport, CT 29,04829.0k $6.2m $6.2m 2.91% Reduced -585 -585
99 EFG International AG 0.12% of their portfolio Zurich, V8 29,02129.0k $6.2m $6.2m 0.12% First filing
100 Global Retirement Partners, LLC 0.11% of their portfolio San Rafael, CA 28,88328.9k $6.2m $6.2m 0.11% Added +12.0k +12,025