Vault-13

ISHARES TR IAI

US BR DEL SE ETF · ETP · CUSIP 464288794

172 institutional holders -20 vs Q4 2025
5,889,5405.9m shares reported held*
$967.2mreported value*
21 new 55 added 60 reduced 36 sold out net bought ≈ $24.2m (+147.0k 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 ($6.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $164.22. Options: 3 managers hold calls ($3.1m notional), 2 hold puts ($2.1m).

Trends to Q1 2026

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: 185Q4 25: 192Q1 26: 172172Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q4 2025192
Q1 2026172

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 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 25Q4 25: 89 bought or addedQ4 25: 74 cut or sold outQ1 26: 76 bought or addedQ1 26: 96 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20248529
Q3 20248954
Q4 202410075
Q1 202578112
Q2 20258392
Q3 20258783
Q4 20258974
Q1 20267696

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ2 25 calls: $4.3mQ2 25 puts: $21.9mQ2 25P/C 5.04Q3 25 calls: $1.6mQ3 25 puts: $6.1mQ3 25P/C 3.88Q4 25 calls: $2.1mQ4 25 puts: $2.1mQ4 25P/C 1.03Q1 26 calls: $3.1mQ1 26 puts: $2.1mQ1 26P/C 0.69
Numbers
QuarterCallsPutsP/C
Q2 2025$4.3m$21.9m5.04
Q3 2025$1.6m$6.1m3.88
Q4 2025$2.1m$2.1m1.03
Q1 2026$3.1m$2.1m0.69

Biggest buyers

Harel Insurance Investments & Financial Services Ltd. Added +631,500+631.5k
TWO SIGMA INVESTMENTS, LP Added +167,200+167.2k
AMERIPRISE FINANCIAL INC Added +70,280+70.3k
Equitable Holdings, Inc. Added +61,859+61.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +40,353+40.4k
Tower Research Capital LLC (TRC) Added +25,827+25.8k
Nan Shan Life Insurance Co., Ltd. New +20,580+20.6k
CX Institutional Added +19,485+19.5k
Quadrature Capital Ltd New +14,033+14.0k
VALICENTI ADVISORY SERVICES INC New +12,960+13.0k

Biggest sellers

LPL Financial LLC Reduced -306,303-306.3k
Chicago Wealth Management, Inc. Reduced -77,697-77.7k
STIFEL FINANCIAL CORP Reduced -65,169-65.2k
WELLS FARGO & COMPANY/MN Reduced -45,347-45.3k
Jump Financial, LLC Sold out -44,840-44.8k
AlphaCore Capital LLC Reduced -44,810-44.8k
WESPAC Advisors SoCal, LLC Reduced -39,057-39.1k
MML INVESTORS SERVICES, LLC Reduced -35,024-35.0k
IFP Advisors, Inc Reduced -34,369-34.4k
FOUNDERS FINANCIAL SECURITIES LLC Sold out -28,206-28.2k

Biggest calls

JANE STREET GROUP, LLC New $1.1m6.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.1m6.6k shares
CITADEL ADVISORS LLC Added $886.6k5.4k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.4m8.6k shares
CITADEL ADVISORS LLC Added $706.0k4.3k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Harel Insurance Investments & Financial Services Ltd. 2.02% of their portfolio Ramat Gan, L3 1,810,2361.8m $297.2m $297.2m 2.02% Added +631.5k +631,500
2 Fisher Asset Management, LLC 0.03% of their portfolio PLANO, TX 614,447614.4k $100.9m $100.9m 0.03% Reduced -21.0k -21,040
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 406,319406.3k $66.7m $66.7m 0.00% Reduced -478 -478
4 TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio NEW YORK, NY 292,100292.1k $48.0m $48.0m 0.04% Added +167.2k +167,200
5 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 230,213230.2k $37.8m $37.8m 0.01% Reduced -45.3k -45,347
6 MML INVESTORS SERVICES, LLC 0.09% of their portfolio SPRINGFIELD, MA 202,545202.5k $33.3m $33.3m 0.09% Reduced -35.0k -35,024
7 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 201,934201.9k $33.1m $33.1m 0.01% Added +70.3k +70,280
8 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 166,791166.8k $27.4m $27.4m 0.00% Reduced -10.2k -10,222
9 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 140,579140.6k $23.1m $23.1m 0.01% Reduced -306.3k -306,303
10 AlphaCore Capital LLC 0.46% of their portfolio LA JOLLA, CA 118,393118.4k $19.4m $19.4m 0.46% Reduced -44.8k -44,810
11 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 105,754105.8k $17.4m $17.4m 0.03% Reduced -8.1k -8,070
12 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 90,53390.5k $14.9m $14.9m 0.00% Reduced -630 -630
13 UBS Group AG 0.00% of their portfolio ZURICH, V8 85,06785.1k $14.0m $14.0m 0.00% Reduced -3.0k -2,952
14 Equitable Holdings, Inc. 0.09% of their portfolio NEW YORK, NY 82,97383.0k $13.9m $13.9m 0.09% Added +61.9k +61,859
15 MinichMacGregor Wealth Management, LLC 2.02% of their portfolio Saratoga Springs, NY 69,75569.8k $11.5m $11.5m 2.02% Added +4.8k +4,818
16 Prospera Financial Services Inc 0.18% of their portfolio Dallas, TX 69,69469.7k $11.4m $11.4m 0.18% Added +7.4k +7,363
17 Advisory Services Network, LLC 0.14% of their portfolio ATLANTA, GA 64,60664.6k $10.6m $10.6m 0.14% Reduced -12.0k -12,018
18 WESPAC Advisors SoCal, LLC 2.08% of their portfolio Pasadena, CA 59,71059.7k $9.8m $9.8m 2.08% Reduced -39.1k -39,057
19 Well Done, LLC 1.20% of their portfolio HOLLAND, MI 49,73049.7k $8.2m $8.2m 1.20% Added +2.9k +2,860
20 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 48,01748.0k $7.9m $7.9m 0.00% Reduced -11.4k -11,393
21 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 43,07943.1k $7.1m $7.1m 0.01% Reduced -17.6k -17,587
22 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 40,35340.4k $6.6m $6.6m 0.01% New
23 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 39,88139.9k $6.5m $6.5m 0.01% Reduced -65.2k -65,169
24 Cadent Capital Advisors, LLC 1.67% of their portfolio TULSA, OK 38,49538.5k $6.3m $6.3m 1.67% Added +3.6k +3,588
25 Prostatis Group LLC 1.38% of their portfolio HANOVER, MD 32,92632.9k $5.4m $5.4m 1.38% Reduced -26.7k -26,687
26 Steward Partners Investment Advisory, LLC 0.03% of their portfolio STAMFORD, CT 31,26531.3k $5.1m $5.1m 0.03% Reduced -2.9k -2,908
27 McGuire Investment Group, LLC 0.58% of their portfolio WAKEFIELD, RI 31,04531.0k $5.1m $5.1m 0.58% Reduced -215 -215
28 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 27,17527.2k $4.5m $4.5m 0.01% Added +2.1k +2,093
29 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 26,97927.0k $4.4m $4.4m 0.01% Added +1.8k +1,804
30 Tower Research Capital LLC (TRC) 0.11% of their portfolio NEW YORK, NY 26,58626.6k $4.4m $4.4m 0.11% Added +25.8k +25,827
31 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 23,87223.9k $3.9m $3.9m 0.00% Added +7.6k +7,612
32 SFI Advisors, LLC 3.89% of their portfolio Montclair, NJ 22,56322.6k $3.7m $3.7m 3.89% Reduced -16.8k -16,808
33 COTTONWOOD CAPITAL ADVISORS, LLC 2.54% of their portfolio SALT LAKE CITY, UT 21,93921.9k $3.6m $3.6m 2.54% Added +1.8k +1,841
34 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 21,81021.8k $3.6m $3.6m 0.00% Added +5.4k +5,354
35 CX Institutional 0.10% of their portfolio AUBURN, IN 20,63820.6k $3.4m $3.4m 0.10% Added +19.5k +19,485
36 Nan Shan Life Insurance Co., Ltd. 0.12% of their portfolio Taipei City, F5 20,58020.6k $3.4m $3.4m 0.12% New
37 ARS Investment Partners, LLC 0.17% of their portfolio New York, NY 20,16420.2k $3.3m $3.3m 0.17% Added +4.3k +4,282
38 Tudor Financial Inc. 1.58% of their portfolio DAYTON, OH 18,83518.8k $3.1m $3.1m 1.58% Reduced -177 -177
39 1 NORTH WEALTH SERVICES LLC 1.10% of their portfolio ANNAPOLIS, MD 18,54418.5k $3.0m $3.0m 1.10% Reduced -193 -193
40 HERITAGE OAK WEALTH ADVISORS LLC 0.84% of their portfolio SANTA ROSA BEACH, FL 16,03116.0k $2.6m $2.6m 0.84% Added +1.4k +1,418
41 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 16,00116.0k $2.6m $2.6m 0.01% Added +8.5k +8,523
42 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 15,89715.9k $2.5m $2.5m 0.00% Added +3.4k +3,380
43 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 15,43615.4k $2.5m $2.5m 0.00% Reduced -4.0k -3,951
44 Baker Avenue Asset Management, LP 0.06% of their portfolio SAN FRANCISCO, CA 15,18315.2k $2.5m $2.5m 0.06% Reduced -46 -46
45 Quadrature Capital Ltd 0.03% of their portfolio LONDON, X0 14,03314.0k $2.3m $2.3m 0.03% New
46 PCG Wealth Advisors, LLC 0.58% of their portfolio OVERLAND PARK, KS 14,00914.0k $2.3m $2.3m 0.58% Added +1.2k +1,197
47 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 13,33413.3k $2.2m $2.2m 0.00% Added +9.5k +9,471
48 VALICENTI ADVISORY SERVICES INC 0.46% of their portfolio ELMIRA, NY 12,96013.0k $2.1m $2.1m 0.46% New
49 GREAT VALLEY ADVISOR GROUP, INC. 0.03% of their portfolio WILMINGTON, DE 11,24611.2k $1.8m $1.8m 0.03% Reduced -437 -437
50 MGO ONE SEVEN LLC 0.04% of their portfolio Beachwood, OH 11,24111.2k $1.8m $1.8m 0.04% New
51 MENORA MIVTACHIM HOLDINGS LTD. 0.01% of their portfolio Ramat Gan, L3 11,00011.0k $1.8m $1.8m 0.01% New
52 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 10,67710.7k $1.8m $1.8m 0.00% Reduced -1.1k -1,118
53 Mariner, LLC 0.00% of their portfolio Overland Park, KS 9,7789.8k $1.6m $1.6m 0.00% Added +563 +563
54 Pinnacle Financial Partners, Inc. 0.01% of their portfolio ATLANTA, GA 9,6139.6k $1.6m $1.6m 0.01% Added +1.7k +1,748
55 &PARTNERS 0.01% of their portfolio NASHVILLE, TN 8,5258.5k $1.4m $1.4m 0.01% Reduced -448 -448
56 Genesee Capital Advisors, LLC 0.59% of their portfolio AUBURN, NY 8,5208.5k $1.4m $1.4m 0.59% Reduced -414 -414
57 Robinson Value Management, Ltd. 0.74% of their portfolio SAN ANTONIO, TX 8,0618.1k $1.3m $1.3m 0.74% Reduced -589 -589
58 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 8,0448.0k $1.3m $1.3m 0.00% Added +6.7k +6,708
59 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 7,3677.4k $1.2m $1.2m 0.00% Added +4.0k +4,046
60 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 7,3397.3k $1.2m $1.2m 0.00% Reduced -155 -155
61 INTEGRITY ALLIANCE, LLC. 0.05% of their portfolio Urbandale, IA 7,2697.3k $1.2m $1.2m 0.05% Added +1.1k +1,080
62 Jackson Wealth Management, LLC 0.11% of their portfolio LAKE MARY, FL 6,5656.6k $1.1m $1.1m 0.11% Added +158 +158
63 Outlook Wealth Advisors, LLC 0.24% of their portfolio SHENANDOAH, TX 5,9596.0k $978.4k $978.4k 0.24% Reduced -180 -180
64 RHODES INVESTMENT ADVISORS INC /ADV 0.82% of their portfolio FORT WORTH, TX 5,7805.8k $949.0k $949.0k 0.82% Reduced -10 -10
65 MUIRFIELD WEALTH ADVISORS LLC 0.68% of their portfolio CHARLOTTE, NC 5,6685.7k $930.6k $930.6k 0.68% Added +487 +487
66 FLOW TRADERS U.S. LLC 0.03% of their portfolio NEW YORK, NY 5,6395.6k $926.0k $926.0k 0.03% New
67 Atria Investments, Inc 0.01% of their portfolio Charlotte, NC 5,4825.5k $900.0k $900.0k 0.01% Reduced -215 -215
68 Global Financial Private Client, LLC 0.29% of their portfolio Sarasota, FL 5,3975.4k $886.1k $886.1k 0.29% Added +326 +326
69 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 5,3545.4k $878.9k $878.9k 0.00% Reduced -721 -721
70 Apeiron RIA LLC 0.20% of their portfolio Dallas, TX 5,3275.3k $874.6k $874.6k 0.20% Unchanged
71 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 5,2545.3k $862.6k $862.6k 0.00% Reduced -2.2k -2,204
72 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 5,2515.3k $862.1k $862.1k 0.00% New
73 Signature Equity Partners, LLC 0.45% of their portfolio COLUMBUS, OH 5,1595.2k $847.1k $847.1k 0.45% Added +502 +502
74 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 4,9715.0k $816.0k $816.0k 0.00% Added +1.9k +1,908
75 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 4,8604.9k $797.9k $797.9k 0.00% Reduced -403 -403
76 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 4,8434.8k $795.2k $795.2k 0.00% Added +4.0k +4,050
77 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,7464.7k $757.9k $757.9k 0.00% Added +248 +248
78 Fifth Third Securities, Inc. 0.05% of their portfolio Cincinnati, OH 4,6414.6k $762.0k $762.0k 0.05% Reduced -1.6k -1,642
79 Kovack Advisors, Inc. 0.04% of their portfolio FT. LAUDERDALE, FL 4,5824.6k $755.2k $755.2k 0.04% Added +2.3k +2,276
80 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 4,4674.5k $733.3k $733.3k 0.00% Added +2.5k +2,527
81 FMR LLC 0.00% of their portfolio BOSTON, MA 4,3284.3k $710.6k $710.6k 0.00% Added +1 +1
82 WBI INVESTMENTS, LLC 0.19% of their portfolio RED BANK, NJ 4,1974.2k $689.0k $689.0k 0.19% Added +3.0k +2,972
83 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 4,0924.1k $671.9k $671.9k 0.00% Reduced -745 -745
84 Aprio Wealth Management, LLC 0.04% of their portfolio ATLANTA, GA 4,0764.1k $669.3k $669.3k 0.04% Reduced -684 -684
85 SOUTHERN CAPITAL ADVISORS, LLC 0.30% of their portfolio Jackson, TN 3,9514.0k $648.7k $648.7k 0.30% Added +210 +210
86 Signal Advisors Wealth, LLC 0.04% of their portfolio DETROIT, MI 3,8193.8k $627.1k $627.1k 0.04% Added +31 +31
87 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 3,7813.8k $620.8k $620.8k 0.00% Reduced -122 -122
88 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 3,5313.5k $579.7k $579.7k 0.01% Reduced -3.9k -3,879
89 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 3,5103.5k $576.3k $576.3k 0.01% Added +2.3k +2,264
90 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 3,1333.1k $514.3k $514.3k 0.00% Reduced -298 -298
91 SeaCrest Wealth Management, LLC 0.05% of their portfolio PURCHASE, NY 3,0263.0k $496.9k $496.9k 0.05% Added +244 +244
92 ALPINE WOODS CAPITAL INVESTORS, LLC 0.12% of their portfolio PURCHASE, NY 3,0003.0k $492.5k $492.5k 0.12% Unchanged
93 Kesler, Norman & Wride, LLC 0.08% of their portfolio OGDEN, UT 2,8562.9k $468.9k $468.9k 0.08% Reduced -27 -27
94 GTS SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 2,8282.8k $464.3k $464.3k 0.02% New
95 Blueshift Asset Management, LLC 0.13% of their portfolio RED BANK, NJ 2,6252.6k $431.0k $431.0k 0.13% New
96 Cassady Wealth & Retirement Planning, LLC 0.23% of their portfolio HENDERSON, NV 2,4982.5k $440.8k $440.8k 0.23% Added +1 +1
97 DAVENPORT & Co LLC 0.00% of their portfolio RICHMOND, VA 2,4572.5k $403.4k $403.4k 0.00% Reduced -2.2k -2,181
98 Kingsview Wealth Management, LLC 0.01% of their portfolio GRANTS PASS, OR 2,3532.4k $386.4k $386.4k 0.01% New
99 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 2,2292.2k $366.0k $366.0k 0.00% Unchanged
100 Summit Financial, LLC 0.00% of their portfolio PARSIPPANY, NJ 2,1492.1k $352.9k $352.9k 0.00% Reduced -294 -294