Vault-13

ISHARES TR IAI

US BR DEL SE ETF · ETP · CUSIP 464288794

184 institutional holders +4 vs Q1 2025
5,466,7445.5m shares reported held*
$921.9mreported value*
31 new 52 added 63 reduced 29 sold out net sold ≈ $59.5m (-351.6k 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. Holder counts are more reliable. Implied quarter-end price ≈ $168.64. Options: 3 managers hold calls ($4.3m notional), 4 hold puts ($21.9m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 95Q4 22: 115Q1 23: 112Q2 23: 86Q3 23: 85Q4 23: 87Q1 24: 92Q2 24: 136Q3 24: 153Q4 24: 185Q1 25: 180Q2 25: 184184Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202295
Q4 2022115
Q1 2023112
Q2 202386
Q3 202385
Q4 202387
Q1 202492
Q2 2024136
Q3 2024153
Q4 2024185
Q1 2025180
Q2 2025184

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 24 bought or addedQ3 23: 43 cut or sold outQ4 23: 33 bought or addedQ4 23: 44 cut or sold outQ4 23Q1 24: 39 bought or addedQ1 24: 50 cut or sold outQ2 24: 85 bought or addedQ2 24: 29 cut or sold outQ2 24Q3 24: 89 bought or addedQ3 24: 54 cut or sold outQ4 24: 100 bought or addedQ4 24: 75 cut or sold outQ4 24Q1 25: 78 bought or addedQ1 25: 112 cut or sold outQ2 25: 83 bought or addedQ2 25: 92 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232443
Q4 20233344
Q1 20243950
Q2 20248529
Q3 20248954
Q4 202410075
Q1 202578112
Q2 20258392

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ3 24 calls: $694.2kQ3 24 puts: $38.6kQ3 24P/C 0.06Q4 24 calls: $3.8mQ4 24 puts: $1.0mQ4 24P/C 0.26Q1 25 calls: $5.3mQ1 25 puts: $14.3mQ1 25P/C 2.72Q2 25 calls: $4.3mQ2 25 puts: $21.9mQ2 25P/C 5.04
Numbers
QuarterCallsPutsP/C
Q3 2024$694.2k$38.6k0.06
Q4 2024$3.8m$1.0m0.26
Q1 2025$5.3m$14.3m2.72
Q2 2025$4.3m$21.9m5.04

Biggest buyers

LPL Financial LLC Added +263,082+263.1k
BANK OF AMERICA CORP /DE/ Added +134,383+134.4k
OSAIC HOLDINGS, INC. Added +117,582+117.6k
ROYAL BANK OF CANADA Added +89,959+90.0k
POTOMAC FUND MANAGEMENT INC /ADV New +60,114+60.1k
MML INVESTORS SERVICES, LLC Added +54,923+54.9k
FOUNDERS FINANCIAL SECURITIES LLC New +27,562+27.6k
ARS Investment Partners, LLC New +15,917+15.9k
MinichMacGregor Wealth Management, LLC Added +13,083+13.1k
Cadent Capital Advisors, LLC Added +12,301+12.3k

Biggest sellers

ASSETMARK, INC Reduced -568,218-568.2k
AFFINITY WEALTH MANAGEMENT LLC Sold out -206,352-206.4k
EWG Elevate Inc. Sold out -59,352-59.4k
BNP PARIBAS FINANCIAL MARKETS Sold out -50,000-50.0k
AMERIPRISE FINANCIAL INC Reduced -43,122-43.1k
Quadrature Capital Ltd Sold out -27,581-27.6k
Fisher Asset Management, LLC Reduced -26,147-26.1k
RAYMOND JAMES FINANCIAL INC Reduced -25,496-25.5k
ENVESTNET ASSET MANAGEMENT INC Reduced -25,027-25.0k
GTS SECURITIES LLC Sold out -21,213-21.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.0m17.8k shares
CITADEL ADVISORS LLC Added $964.1k5.7k shares
WOLVERINE TRADING, LLC Reduced $366.7k2.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $16.4m96.9k shares
Belvedere Trading LLC New $3.7m22.1k shares
WOLVERINE TRADING, LLC Added $1.3m7.5k shares
CITADEL ADVISORS LLC Added $524.3k3.1k 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 Fisher Asset Management, LLC 0.05% of their portfolio PLANO, TX 684,053684.1k $115.7m $115.7m 0.05% Reduced -26.1k -26,147
2 Harel Insurance Investments & Financial Services Ltd. 1.24% of their portfolio Ramat Gan, L3 640,000640.0k $108.2m $108.2m 1.24% Unchanged
3 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 461,962462.0k $78.1m $78.1m 0.01% Reduced -8.3k -8,309
4 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 374,163374.2k $63.3m $63.3m 0.02% Added +263.1k +263,082
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 312,309312.3k $52.8m $52.8m 0.00% Added +134.4k +134,383
6 OSAIC HOLDINGS, INC. 0.06% of their portfolio SCOTTSDALE, AZ 209,877209.9k $32.4m $32.4m 0.06% Added +117.6k +117,582
7 MML INVESTORS SERVICES, LLC 0.10% of their portfolio SPRINGFIELD, MA 204,235204.2k $34.5m $34.5m 0.10% Added +54.9k +54,923
8 TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio NEW YORK, NY 202,400202.4k $34.2m $34.2m 0.06% Added +5.5k +5,500
9 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 180,280180.3k $30.5m $30.5m 0.00% Added +90.0k +89,959
10 SPC Financial, Inc. 2.39% of their portfolio ROCKVILLE, MD 168,858168.9k $28.6m $28.6m 2.39% Reduced -856 -856
11 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 158,936158.9k $26.9m $26.9m 0.01% Reduced -6.6k -6,585
12 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 118,858118.9k $20.1m $20.1m 0.00% Reduced -43.1k -43,122
13 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 108,458108.5k $18.3m $18.3m 0.02% Added +7.4k +7,402
14 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 103,508103.5k $17.5m $17.5m 0.01% Reduced -25.0k -25,027
15 WESPAC Advisors SoCal, LLC 3.71% of their portfolio Pasadena, CA 98,24798.2k $16.6m $16.6m 3.71% Reduced -230 -230
16 Advisory Services Network, LLC 0.24% of their portfolio ATLANTA, GA 84,69584.7k $14.9m $14.9m 0.24% Added +2.8k +2,831
17 UBS Group AG 0.00% of their portfolio ZURICH, V8 80,71080.7k $13.7m $13.7m 0.00% Added +10.3k +10,256
18 Chicago Wealth Management, Inc. 6.32% of their portfolio CHICAGO, IL 78,40878.4k $13.3m $13.3m 6.32% Reduced -742 -742
19 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 76,15676.2k $12.9m $12.9m 0.00% Reduced -25.5k -25,496
20 MinichMacGregor Wealth Management, LLC 2.32% of their portfolio Saratoga Springs, NY 64,18764.2k $10.9m $10.9m 2.32% Added +13.1k +13,083
21 Prospera Financial Services Inc 0.19% of their portfolio Dallas, TX 61,25861.3k $10.4m $10.4m 0.19% Reduced -520 -520
22 POTOMAC FUND MANAGEMENT INC /ADV 0.58% of their portfolio BETHESDA, MD 60,11460.1k $10.2m $10.2m 0.58% New
23 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 42,30342.3k $7.2m $7.2m 0.01% Added +3.7k +3,661
24 SFI Advisors, LLC 4.74% of their portfolio Montclair, NJ 40,48540.5k $6.8m $6.8m 4.74% Reduced -2.8k -2,836
25 Well Done, LLC 1.18% of their portfolio HOLLAND, MI 37,23037.2k $6.3m $6.3m 1.18% Reduced -360 -360
26 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 33,13433.1k $5.6m $5.6m 0.01% Reduced -4.5k -4,517
27 McGuire Investment Group, LLC 0.68% of their portfolio WAKEFIELD, RI 31,55031.6k $5.3m $5.3m 0.68% Added +4 +4
28 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 31,50831.5k $5.3m $5.3m 0.01% Added +5.6k +5,616
29 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 31,34331.3k $5.3m $5.3m 0.01% Added +11.5k +11,506
30 Steward Partners Investment Advisory, LLC 0.04% of their portfolio STAMFORD, CT 28,54328.5k $4.8m $4.8m 0.04% Added +883 +883
31 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 27,84727.8k $4.7m $4.7m 0.01% Reduced -18.7k -18,672
32 Cadent Capital Advisors, LLC 1.53% of their portfolio TULSA, OK 27,63727.6k $4.7m $4.7m 1.53% Added +12.3k +12,301
33 FOUNDERS FINANCIAL SECURITIES LLC 0.35% of their portfolio TOWSON, MD 27,56227.6k $4.7m $4.7m 0.35% New
34 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 26,69326.7k $4.5m $4.5m 0.00% Reduced -9.8k -9,773
35 Clark Capital Management Group, Inc. 0.02% of their portfolio PHILADELPHIA, PA 20,31320.3k $3.4m $3.4m 0.02% Reduced -2.4k -2,443
36 Mariner, LLC 0.00% of their portfolio Overland Park, KS 19,76919.8k $3.3m $3.3m 0.00% Added +2.3k +2,286
37 COTTONWOOD CAPITAL ADVISORS, LLC 2.22% of their portfolio SALT LAKE CITY, UT 19,51219.5k $3.3m $3.3m 2.22% Reduced -187 -187
38 1 NORTH WEALTH SERVICES LLC 1.30% of their portfolio ANNAPOLIS, MD 19,39119.4k $3.3m $3.3m 1.30% Reduced -197 -197
39 Tudor Financial Inc. 1.77% of their portfolio DAYTON, OH 18,42618.4k $3.1m $3.1m 1.77% Reduced -425 -425
40 Atria Wealth Solutions, Inc. 0.07% of their portfolio NEW YORK, NY 17,57117.6k $3.0m $3.0m 0.07% Reduced -7.6k -7,635
41 VestGen Advisors, LLC 0.11% of their portfolio CHICAGO, IL 16,68416.7k $2.8m $2.8m 0.11% Added +1.6k +1,613
42 ARS Investment Partners, LLC 0.20% of their portfolio New York, NY 15,91715.9k $2.7m $2.7m 0.20% New
43 Great Diamond Partners, LLC 0.54% of their portfolio Portland, ME 15,10915.1k $2.6m $2.6m 0.54% Reduced -743 -743
44 Baker Avenue Asset Management, LP 0.07% of their portfolio SAN FRANCISCO, CA 15,09415.1k $2.6m $2.6m 0.07% Added +483 +483
45 HERITAGE OAK WEALTH ADVISORS LLC 0.98% of their portfolio SANTA ROSA BEACH, FL 14,93214.9k $2.5m $2.5m 0.98% Added +64 +64
46 Arete Wealth Advisors, LLC 0.16% of their portfolio CHICAGO, IL 13,71213.7k $2.3m $2.3m 0.16% Added +11.7k +11,701
47 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 12,04912.0k $2.0m $2.0m 0.00% Reduced -2.2k -2,245
48 GREAT VALLEY ADVISOR GROUP, INC. 0.05% of their portfolio WILMINGTON, DE 12,04812.0k $2.0m $2.0m 0.05% Reduced -217 -217
49 LEE JOHNSON CAPITAL MANAGEMENT, LLC 0.61% of their portfolio FORT WORTH, TX 10,45210.5k $1.8m $1.8m 0.61% New
50 Csenge Advisory Group 0.08% of their portfolio CLEARWATER, FL 10,11910.1k $1.6m $1.6m 0.08% Reduced -65 -65
51 Genesee Capital Advisors, LLC 0.71% of their portfolio AUBURN, NY 9,3899.4k $1.6m $1.6m 0.71% Added +3.5k +3,490
52 Robinson Value Management, Ltd. 0.96% of their portfolio SAN ANTONIO, TX 9,0479.0k $1.5m $1.5m 0.96% Unchanged
53 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 8,5648.6k $1.4m $1.4m 0.00% Added +1.5k +1,548
54 &PARTNERS 0.01% of their portfolio NASHVILLE, TN 8,4928.5k $1.4m $1.4m 0.01% Reduced -143 -143
55 Belpointe Asset Management LLC 0.06% of their portfolio RENO, NV 7,8327.8k $1.3m $1.3m 0.06% Reduced -242 -242
56 SYNOVUS FINANCIAL CORP 0.02% of their portfolio Columbus, GA 7,8267.8k $1.3m $1.3m 0.02% Added +14 +14
57 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 7,8097.8k $1.3m $1.3m 0.00% Reduced -48 -48
58 Atria Investments, Inc 0.02% of their portfolio Charlotte, NC 7,5457.5k $1.3m $1.3m 0.02% Reduced -2.6k -2,632
59 IFG Advisory, LLC 0.06% of their portfolio ATLANTA, GA 7,1017.1k $1.2m $1.2m 0.06% Added +5.6k +5,615
60 Trivium Point Advisory, LLC 0.13% of their portfolio WILTON, CT 6,9326.9k $1.2m $1.2m 0.13% New
61 Allworth Financial LP 0.01% of their portfolio FOLSOM, CA 6,6206.6k $1.1m $1.1m 0.01% Reduced -927 -927
62 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 6,5886.6k $1.1m $1.1m 0.00% Reduced -568.2k -568,218
63 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 6,2656.3k $1.1m $1.1m 0.00% Added +1.5k +1,546
64 Fifth Third Securities, Inc. 0.08% of their portfolio Cincinnati, OH 5,9175.9k $1.0m $1.0m 0.08% Reduced -699 -699
65 Apeiron RIA LLC 0.24% of their portfolio Dallas, TX 5,5785.6k $943.5k $943.5k 0.24% Added +108 +108
66 Aprio Wealth Management, LLC 0.10% of their portfolio ATLANTA, GA 5,4815.5k $927.0k $927.0k 0.10% Reduced -287 -287
67 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 5,3675.4k $907.8k $907.8k 0.01% Added +3.5k +3,486
68 Jackson Wealth Management, LLC 0.09% of their portfolio LAKE MARY, FL 5,0895.1k $861.0k $861.0k 0.09% Added +108 +108
69 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 4,8994.9k $828.7k $828.7k 0.00% Added +2 +2
70 Global Financial Private Client, LLC 0.30% of their portfolio Sarasota, FL 4,7284.7k $799.7k $799.7k 0.30% Added +1.1k +1,102
71 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 4,7004.7k $795.0k $795.0k 0.00% Reduced -144 -144
72 Client First Investment Management LLC 0.49% of their portfolio West Bend, WI 4,6774.7k $791.1k $791.1k 0.49% New
73 DAVENPORT & Co LLC 0.00% of their portfolio RICHMOND, VA 4,6294.6k $782.9k $782.9k 0.00% Reduced -4.3k -4,251
74 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 4,6074.6k $779.3k $779.3k 0.00% Reduced -827 -827
75 Hudson Value Partners, LLC 0.26% of their portfolio PALM BEACH, FL 4,4464.4k $752.0k $752.0k 0.26% Reduced -44 -44
76 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 4,1024.1k $693.8k $693.8k 0.01% New
77 WOLVERINE TRADING, LLC 0.02% of their portfolio CHICAGO, IL 4,0524.1k $675.4k $675.4k 0.02% New
78 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 4,0294.0k $681.5k $681.5k 0.00% Reduced -9.8k -9,802
79 MUIRFIELD WEALTH ADVISORS LLC 0.54% of their portfolio CHARLOTTE, NC 4,0264.0k $680.9k $680.9k 0.54% Reduced -498 -498
80 FMR LLC 0.00% of their portfolio BOSTON, MA 3,9634.0k $670.4k $670.4k 0.00% Added +78 +78
81 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 3,9343.9k $665.4k $665.4k 0.01% New
82 PARK AVENUE SECURITIES LLC 0.01% of their portfolio NEW YORK, NY 3,7353.7k $632.0k $632.0k 0.01% Added +304 +304
83 SOUTHERN CAPITAL ADVISORS, LLC 0.32% of their portfolio Jackson, TN 3,6443.6k $616.4k $616.4k 0.32% Reduced -127 -127
84 Q3 Asset Management 0.20% of their portfolio BIRMINGHAM, MI 3,2523.3k $553.0k $553.0k 0.20% New
85 Janney Capital Management LLC 0.04% of their portfolio PITTSBURGH, PA 3,2083.2k $543.0k $543.0k 0.04% Reduced -1 -1
86 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 3,2023.2k $542.0k $542.0k 0.00% Added +1.0k +1,003
87 BAROMETER CAPITAL MANAGEMENT INC. 0.14% of their portfolio TORONTO, A6 3,1003.1k $524.3k $524.3k 0.14% New
88 First International Bank of Israel Ltd. 0.30% of their portfolio TEL AVIV, L3 3,0603.1k $517.6k $517.6k 0.30% First filing
89 ALPINE WOODS CAPITAL INVESTORS, LLC 0.12% of their portfolio PURCHASE, NY 3,0003.0k $507.4k $507.4k 0.12% Unchanged
90 HBW ADVISORY SERVICES LLC 0.06% of their portfolio SIMI VALLEY, CA 2,9683.0k $502.0k $502.0k 0.06% Reduced -327 -327
91 Kesler, Norman & Wride, LLC 0.09% of their portfolio OGDEN, UT 2,9452.9k $498.1k $498.1k 0.09% Added +101 +101
92 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 2,9342.9k $496.3k $496.3k 0.00% Added +347 +347
93 Maxele Advisors, LLC 0.43% of their portfolio WEBSTER GROVES, MO 2,9262.9k $494.9k $494.9k 0.43% Unchanged
94 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,6392.6k $446.4k $446.4k 0.00% Added +1.3k +1,304
95 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 2,6002.6k $439.8k $439.8k 0.00% New
96 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,5512.6k $431.5k $431.5k 0.00% Reduced -3.0k -2,995
97 Navis Wealth Advisors, LLC 0.36% of their portfolio RYE BROOK, NY 2,5002.5k $422.9k $422.9k 0.36% Unchanged
98 SeaCrest Wealth Management, LLC 0.05% of their portfolio PURCHASE, NY 2,4942.5k $421.9k $421.9k 0.05% Reduced -132 -132
99 Summit Financial, LLC 0.01% of their portfolio PARSIPPANY, NJ 2,3212.3k $392.5k $392.5k 0.01% Reduced -34 -34
100 Sigma Planning Corp 0.01% of their portfolio ANN ARBOR, MI 2,2912.3k $387.4k $387.4k 0.01% Reduced -8 -8