Vault-13

ISHARES TR IAI

US BR DEL SE ETF · ETP · CUSIP 464288794

185 institutional holders +1 vs Q2 2025
5,540,0935.5m shares reported held*
$979.4mreported value*
28 new 59 added 57 reduced 26 sold out net bought ≈ $15.9m (+90.9k 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 ≈ $176.78. Options: 2 managers hold calls ($1.6m notional), 4 hold puts ($6.1m).

Trends to Q3 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: 184Q3 25: 185185Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025185

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 33 bought or addedQ4 23: 44 cut or sold outQ1 24: 39 bought or addedQ1 24: 50 cut or sold outQ1 24Q2 24: 85 bought or addedQ2 24: 29 cut or sold outQ3 24: 89 bought or addedQ3 24: 54 cut or sold outQ3 24Q4 24: 100 bought or addedQ4 24: 75 cut or sold outQ1 25: 78 bought or addedQ1 25: 112 cut or sold outQ1 25Q2 25: 83 bought or addedQ2 25: 92 cut or sold outQ3 25: 87 bought or addedQ3 25: 83 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20233344
Q1 20243950
Q2 20248529
Q3 20248954
Q4 202410075
Q1 202578112
Q2 20258392
Q3 20258783

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ4 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 5.04Q3 25 calls: $1.6mQ3 25 puts: $6.1mQ3 25P/C 3.88
Numbers
QuarterCallsPutsP/C
Q4 2024$3.8m$1.0m0.26
Q1 2025$5.3m$14.3m2.72
Q2 2025$4.3m$21.9m5.04
Q3 2025$1.6m$6.1m3.88

Biggest buyers

Quadrature Capital Ltd New +56,881+56.9k
LPL Financial LLC Added +55,017+55.0k
WELLS FARGO & COMPANY/MN Added +54,327+54.3k
TWO SIGMA INVESTMENTS, LP Added +46,700+46.7k
Prostatis Group LLC New +39,234+39.2k
UBS Group AG Added +37,634+37.6k
IFP Advisors, Inc Added +33,234+33.2k
Mirae Asset Global Investments Co., Ltd. New +28,866+28.9k
Horizon Wealth Management, LLC New +27,724+27.7k
FISCHER INVESTMENT STRATEGIES, LLC New +25,318+25.3k

Biggest sellers

OSAIC HOLDINGS, INC. Reduced -102,723-102.7k
ENVESTNET ASSET MANAGEMENT INC Reduced -87,292-87.3k
ROYAL BANK OF CANADA Reduced -83,723-83.7k
POTOMAC FUND MANAGEMENT INC /ADV Sold out -60,114-60.1k
MORGAN STANLEY Reduced -42,584-42.6k
CITADEL ADVISORS LLC Sold out -26,693-26.7k
Fisher Asset Management, LLC Reduced -26,536-26.5k
Clark Capital Management Group, Inc. Sold out -20,313-20.3k
Cetera Investment Advisers Reduced -19,328-19.3k
Mariner, LLC Reduced -11,318-11.3k

Biggest calls

CITADEL ADVISORS LLC Reduced $866.7k4.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $707.5k4.0k shares

Biggest puts

Belvedere Trading LLC Reduced $3.4m19.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.5m8.7k shares
WOLVERINE TRADING, LLC Reduced $853.6k4.8k shares
CITADEL ADVISORS LLC Reduced $265.3k1.5k 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 Fisher Asset Management, LLC 0.04% of their portfolio PLANO, TX 657,517657.5k $116.3m $116.3m 0.04% Reduced -26.5k -26,536
2 Harel Insurance Investments & Financial Services Ltd. 1.02% of their portfolio Ramat Gan, L3 640,000640.0k $113.2m $113.2m 1.02% Unchanged
3 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 429,180429.2k $75.9m $75.9m 0.02% Added +55.0k +55,017
4 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 419,378419.4k $74.2m $74.2m 0.00% Reduced -42.6k -42,584
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 328,559328.6k $58.1m $58.1m 0.00% Added +16.2k +16,250
6 TWO SIGMA INVESTMENTS, LP 0.07% of their portfolio NEW YORK, NY 249,100249.1k $44.1m $44.1m 0.07% Added +46.7k +46,700
7 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 213,263213.3k $37.7m $37.7m 0.01% Added +54.3k +54,327
8 MML INVESTORS SERVICES, LLC 0.10% of their portfolio SPRINGFIELD, MA 206,517206.5k $36.5m $36.5m 0.10% Added +2.3k +2,282
9 SPC Financial, Inc. 2.34% of their portfolio ROCKVILLE, MD 169,156169.2k $29.9m $29.9m 2.34% Added +298 +298
10 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 122,669122.7k $21.7m $21.7m 0.00% Added +3.8k +3,811
11 UBS Group AG 0.00% of their portfolio ZURICH, V8 118,344118.3k $20.9m $20.9m 0.00% Added +37.6k +37,634
12 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 107,154107.2k $18.7m $18.7m 0.03% Reduced -102.7k -102,723
13 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 105,318105.3k $18.6m $18.6m 0.02% Reduced -3.1k -3,140
14 WESPAC Advisors SoCal, LLC 3.50% of their portfolio Pasadena, CA 97,40697.4k $17.2m $17.2m 3.50% Reduced -841 -841
15 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 96,55796.6k $17.1m $17.1m 0.00% Reduced -83.7k -83,723
16 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 89,62289.6k $15.9m $15.9m 0.01% Added +13.5k +13,466
17 Advisory Services Network, LLC 0.22% of their portfolio ATLANTA, GA 85,12785.1k $15.1m $15.1m 0.22% Added +432 +432
18 Chicago Wealth Management, Inc. 6.02% of their portfolio CHICAGO, IL 78,09478.1k $13.8m $13.8m 6.02% Reduced -314 -314
19 MinichMacGregor Wealth Management, LLC 2.25% of their portfolio Saratoga Springs, NY 65,14065.1k $11.5m $11.5m 2.25% Added +953 +953
20 Prospera Financial Services Inc 0.18% of their portfolio Dallas, TX 59,75859.8k $10.6m $10.6m 0.18% Reduced -1.5k -1,500
21 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 59,12859.1k $10.5m $10.5m 0.01% Added +16.8k +16,825
22 Quadrature Capital Ltd 0.12% of their portfolio LONDON, X0 56,88156.9k $10.1m $10.1m 0.12% New
23 Well Done, LLC 1.27% of their portfolio HOLLAND, MI 42,10642.1k $7.4m $7.4m 1.27% Added +4.9k +4,876
24 SFI Advisors, LLC 4.49% of their portfolio Montclair, NJ 39,82039.8k $7.0m $7.0m 4.49% Reduced -665 -665
25 Prostatis Group LLC 1.74% of their portfolio HANOVER, MD 39,23439.2k $6.9m $6.9m 1.74% New
26 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 38,79338.8k $6.9m $6.9m 0.01% Added +7.3k +7,285
27 IFP Advisors, Inc 0.15% of their portfolio TAMPA, FL 33,49733.5k $5.9m $5.9m 0.15% Added +33.2k +33,234
28 Steward Partners Investment Advisory, LLC 0.03% of their portfolio STAMFORD, CT 33,20633.2k $5.9m $5.9m 0.03% Added +4.7k +4,663
29 Cadent Capital Advisors, LLC 1.54% of their portfolio TULSA, OK 32,78732.8k $5.8m $5.8m 1.54% Added +5.2k +5,150
30 McGuire Investment Group, LLC 0.63% of their portfolio WAKEFIELD, RI 31,39531.4k $5.6m $5.6m 0.63% Reduced -155 -155
31 Mirae Asset Global Investments Co., Ltd. 0.02% of their portfolio SEOUL, M5 28,86628.9k $5.1m $5.1m 0.02% New
32 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 28,71428.7k $5.1m $5.1m 0.01% Reduced -2.6k -2,629
33 Horizon Wealth Management, LLC 0.72% of their portfolio LA GRANGE, IL 27,72427.7k $4.9m $4.9m 0.72% New
34 FOUNDERS FINANCIAL SECURITIES LLC 0.32% of their portfolio TOWSON, MD 26,94926.9k $4.8m $4.8m 0.32% Reduced -613 -613
35 FISCHER INVESTMENT STRATEGIES, LLC 2.69% of their portfolio Westlake Village, CA 25,31825.3k $4.5m $4.5m 2.69% New
36 Equitable Holdings, Inc. 0.03% of their portfolio NEW YORK, NY 23,33023.3k $4.1m $4.1m 0.03% Added +18.0k +17,963
37 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 22,85422.9k $4.0m $4.0m 0.01% Reduced -5.0k -4,993
38 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 22,68622.7k $4.0m $4.0m 0.01% Added +16.4k +16,421
39 CASTLEARK MANAGEMENT LLC 0.10% of their portfolio CHICAGO, IL 19,52019.5k $3.5m $3.5m 0.10% New
40 COTTONWOOD CAPITAL ADVISORS, LLC 2.50% of their portfolio SALT LAKE CITY, UT 19,39719.4k $3.4m $3.4m 2.50% Reduced -115 -115
41 Tudor Financial Inc. 1.77% of their portfolio DAYTON, OH 18,84418.8k $3.3m $3.3m 1.77% Added +418 +418
42 1 NORTH WEALTH SERVICES LLC 1.35% of their portfolio ANNAPOLIS, MD 18,69818.7k $3.3m $3.3m 1.35% Reduced -693 -693
43 VestGen Advisors, LLC 0.10% of their portfolio CHICAGO, IL 16,40016.4k $2.9m $2.9m 0.10% Reduced -284 -284
44 Arete Wealth Advisors, LLC 0.18% of their portfolio CHICAGO, IL 16,26616.3k $2.9m $2.9m 0.18% Added +2.6k +2,554
45 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 16,21616.2k $2.9m $2.9m 0.00% Reduced -87.3k -87,292
46 GTS SECURITIES LLC 0.11% of their portfolio NEW YORK, NY 16,12616.1k $2.9m $2.9m 0.11% New
47 ARS Investment Partners, LLC 0.18% of their portfolio New York, NY 15,82415.8k $2.8m $2.8m 0.18% Reduced -93 -93
48 Baker Avenue Asset Management, LP 0.06% of their portfolio SAN FRANCISCO, CA 15,13115.1k $2.7m $2.7m 0.06% Added +37 +37
49 Great Diamond Partners, LLC 0.52% of their portfolio Portland, ME 15,05315.1k $2.7m $2.7m 0.52% Reduced -56 -56
50 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 14,72614.7k $2.6m $2.6m 0.01% Added +11.5k +11,524
51 HERITAGE OAK WEALTH ADVISORS LLC 0.94% of their portfolio SANTA ROSA BEACH, FL 14,62214.6k $2.6m $2.6m 0.94% Reduced -310 -310
52 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 13,80613.8k $2.4m $2.4m 0.00% Reduced -19.3k -19,328
53 Guerra Advisors Inc 0.89% of their portfolio MIAMI, FL 13,67513.7k $2.4m $2.4m 0.89% New
54 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 11,84111.8k $2.1m $2.1m 0.00% Reduced -208 -208
55 GREAT VALLEY ADVISOR GROUP, INC. 0.04% of their portfolio WILMINGTON, DE 11,72511.7k $2.1m $2.1m 0.04% Reduced -323 -323
56 PCG Wealth Advisors, LLC 0.58% of their portfolio OVERLAND PARK, KS 11,31711.3k $2.0m $2.0m 0.58% New
57 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 10,76410.8k $1.9m $1.9m 0.00% Added +2.2k +2,200
58 LEE JOHNSON CAPITAL MANAGEMENT, LLC 0.62% of their portfolio FORT WORTH, TX 10,51410.5k $1.9m $1.9m 0.62% Added +62 +62
59 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 9,4579.5k $1.5m $1.5m 0.00% Added +4.8k +4,850
60 Genesee Capital Advisors, LLC 0.71% of their portfolio AUBURN, NY 9,2319.2k $1.6m $1.6m 0.71% Reduced -158 -158
61 &PARTNERS 0.01% of their portfolio NASHVILLE, TN 8,8828.9k $1.6m $1.6m 0.01% Added +390 +390
62 Robinson Value Management, Ltd. 0.89% of their portfolio SAN ANTONIO, TX 8,6418.6k $1.5m $1.5m 0.89% Reduced -406 -406
63 Mariner, LLC 0.00% of their portfolio Overland Park, KS 8,4518.5k $1.5m $1.5m 0.00% Reduced -11.3k -11,318
64 SYNOVUS FINANCIAL CORP 0.02% of their portfolio Columbus, GA 7,8447.8k $1.4m $1.4m 0.02% Added +18 +18
65 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 7,4207.4k $1.3m $1.3m 0.00% Reduced -389 -389
66 Belpointe Asset Management LLC 0.05% of their portfolio RENO, NV 7,3067.3k $1.3m $1.3m 0.05% Reduced -526 -526
67 IFG Advisory, LLC 0.06% of their portfolio ATLANTA, GA 7,2807.3k $1.3m $1.3m 0.06% Added +179 +179
68 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 7,2487.2k $1.3m $1.3m 0.01% Added +2.5k +2,548
69 Atria Investments, Inc 0.01% of their portfolio Charlotte, NC 6,9887.0k $1.2m $1.2m 0.01% Reduced -557 -557
70 Trivium Point Advisory, LLC 0.13% of their portfolio WILTON, CT 6,9426.9k $1.2m $1.2m 0.13% Added +10 +10
71 Allworth Financial LP 0.01% of their portfolio FOLSOM, CA 6,5236.5k $1.2m $1.2m 0.01% Reduced -97 -97
72 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 6,4686.5k $1.1m $1.1m 0.00% Added +3.9k +3,917
73 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 6,3776.4k $1.1m $1.1m 0.00% Reduced -211 -211
74 Outlook Wealth Advisors, LLC 0.27% of their portfolio SHENANDOAH, TX 6,1886.2k $1.1m $1.1m 0.27% New
75 Fifth Third Securities, Inc. 0.07% of their portfolio Cincinnati, OH 6,1596.2k $1.1m $1.1m 0.07% Added +242 +242
76 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 5,8695.9k $1.0m $1.0m 0.01% New
77 Apeiron RIA LLC 0.22% of their portfolio Dallas, TX 5,6385.6k $977.6k $977.6k 0.22% Added +60 +60
78 Aprio Wealth Management, LLC 0.10% of their portfolio ATLANTA, GA 5,4625.5k $966.2k $966.2k 0.10% Reduced -19 -19
79 Hudson Value Partners, LLC 0.30% of their portfolio PALM BEACH, FL 5,3495.3k $946.1k $946.1k 0.30% Added +903 +903
80 Brendel Financial Advisors LLC 0.48% of their portfolio HANOVER, NH 5,3085.3k $938.9k $938.9k 0.48% New
81 Jackson Wealth Management, LLC 0.09% of their portfolio LAKE MARY, FL 5,2295.2k $925.0k $925.0k 0.09% Added +140 +140
82 INTEGRITY ALLIANCE, LLC. 0.04% of their portfolio Urbandale, IA 5,1785.2k $915.9k $915.9k 0.04% New
83 Global Financial Private Client, LLC 0.32% of their portfolio Sarasota, FL 5,0525.1k $893.6k $893.6k 0.32% Added +324 +324
84 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 4,9394.9k $873.6k $873.6k 0.00% Added +40 +40
85 Focus Financial Network, Inc. 0.03% of their portfolio MINNEAPOLIS, MN 4,8234.8k $853.1k $853.1k 0.03% Added +3.4k +3,374
86 DAVENPORT & Co LLC 0.00% of their portfolio RICHMOND, VA 4,7564.8k $841.2k $841.2k 0.00% Added +127 +127
87 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 4,3904.4k $776.5k $776.5k 0.01% Added +288 +288
88 MUIRFIELD WEALTH ADVISORS LLC 0.53% of their portfolio CHARLOTTE, NC 4,0284.0k $712.4k $712.4k 0.53% Added +2 +2
89 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 3,6293.6k $641.9k $641.9k 0.00% Reduced -400 -400
90 FMR LLC 0.00% of their portfolio BOSTON, MA 3,6273.6k $641.6k $641.6k 0.00% Reduced -336 -336
91 SOUTHERN CAPITAL ADVISORS, LLC 0.30% of their portfolio Jackson, TN 3,6063.6k $637.8k $637.8k 0.30% Reduced -38 -38
92 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 3,4233.4k $605.5k $605.5k 0.00% Added +489 +489
93 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 3,4003.4k $601.4k $601.4k 0.00% Added +800 +800
94 First International Bank of Israel Ltd. 0.33% of their portfolio TEL AVIV, L3 3,3083.3k $585.1k $585.1k 0.33% Added +248 +248
95 Janney Capital Management LLC 0.03% of their portfolio PITTSBURGH, PA 3,1493.1k $557.0k $557.0k 0.03% Reduced -59 -59
96 ALPINE WOODS CAPITAL INVESTORS, LLC 0.12% of their portfolio PURCHASE, NY 3,0003.0k $530.6k $530.6k 0.12% Unchanged
97 Kesler, Norman & Wride, LLC 0.08% of their portfolio OGDEN, UT 2,9953.0k $431.6k $431.6k 0.08% Added +50 +50
98 Maxele Advisors, LLC 0.45% of their portfolio WEBSTER GROVES, MO 2,9262.9k $517.5k $517.5k 0.45% Unchanged
99 SeaCrest Wealth Management, LLC 0.05% of their portfolio PURCHASE, NY 2,5502.5k $447.9k $447.9k 0.05% Added +56 +56
100 Navis Wealth Advisors, LLC 0.33% of their portfolio RYE BROOK, NY 2,5002.5k $442.2k $442.2k 0.33% Unchanged