Vault-13

ISHARES TR SMIN

MSCI INDIA SM CP · ETP · CUSIP 46429B614

140 institutional holders +3 vs Q1 2025
6,896,3016.9m shares reported held*
$532.3mreported value*
17 new 50 added 44 reduced 14 sold out net sold ≈ $42.8m (-554.0k 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 ($481.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $77.18. Options: 3 managers hold calls ($2.2m notional), 3 hold puts ($764.1k).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 66Q4 22: 69Q1 23: 65Q2 23: 66Q3 23: 82Q4 23: 121Q1 24: 140Q2 24: 153Q3 24: 161Q4 24: 155Q1 25: 137Q2 25: 140140Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202266
Q4 202269
Q1 202365
Q2 202366
Q3 202382
Q4 2023121
Q1 2024140
Q2 2024153
Q3 2024161
Q4 2024155
Q1 2025137
Q2 2025140

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 48 bought or addedQ3 23: 15 cut or sold outQ4 23: 76 bought or addedQ4 23: 32 cut or sold outQ4 23Q1 24: 94 bought or addedQ1 24: 46 cut or sold outQ2 24: 88 bought or addedQ2 24: 46 cut or sold outQ2 24Q3 24: 84 bought or addedQ3 24: 60 cut or sold outQ4 24: 72 bought or addedQ4 24: 78 cut or sold outQ4 24Q1 25: 64 bought or addedQ1 25: 85 cut or sold outQ2 25: 67 bought or addedQ2 25: 58 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234815
Q4 20237632
Q1 20249446
Q2 20248846
Q3 20248460
Q4 20247278
Q1 20256485
Q2 20256758

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ3 24 calls: $1.1mQ3 24 puts: $31.1mQ3 24P/C 27.85Q4 24 calls: $955.6kQ4 24 puts: $1.9mQ4 24P/C 1.99Q1 25 calls: $2.0mQ1 25 puts: $531.1kQ1 25P/C 0.27Q2 25 calls: $2.2mQ2 25 puts: $764.1kQ2 25P/C 0.34
Numbers
QuarterCallsPutsP/C
Q3 2024$1.1m$31.1m27.85
Q4 2024$955.6k$1.9m1.99
Q1 2025$2.0m$531.1k0.27
Q2 2025$2.2m$764.1k0.34

Biggest buyers

Hillsdale Investment Management Inc. Added +248,418+248.4k
GOLDMAN SACHS GROUP INC Added +186,819+186.8k
ALLIANCEBERNSTEIN L.P. Added +100,813+100.8k
ROYAL BANK OF CANADA Added +68,130+68.1k
ARDSLEY ADVISORY PARTNERS LP New +60,000+60.0k
CAUSEWAY CAPITAL MANAGEMENT LLC Added +52,243+52.2k
VestGen Advisors, LLC New +48,756+48.8k
HighTower Advisors, LLC Added +43,883+43.9k
BANK OF AMERICA CORP /DE/ Added +40,549+40.5k
STIFEL FINANCIAL CORP Added +32,998+33.0k

Biggest sellers

JANE STREET GROUP, LLC Reduced -340,584-340.6k
MORGAN STANLEY Reduced -266,731-266.7k
Driehaus Capital Management LLC Sold out -217,174-217.2k
FRANKLIN RESOURCES INC Reduced -169,122-169.1k
Police & Firemen's Retirement System of New Jersey Sold out -165,000-165.0k
BlackRock, Inc. Sold out -165,000-165.0k
MILLENNIUM MANAGEMENT LLC Sold out -83,181-83.2k
OLD MISSION CAPITAL LLC Reduced -30,978-31.0k
ERn Financial, LLC Sold out -22,740-22.7k
Proficio Capital Partners LLC Sold out -20,000-20.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.6m20.8k shares
CITADEL ADVISORS LLC Reduced $393.6k5.1k shares
WOLVERINE TRADING, LLC New $230.6k3.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $686.9k8.9k shares
GROUP ONE TRADING LLC New $77.2k1.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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 ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio NASHVILLE, TN 1,046,0591.0m $80.7m $80.7m 0.03% Added +100.8k +100,813
2 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 871,138871.1k $67.2m $67.2m 0.01% Added +186.8k +186,819
3 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 568,608568.6k $43.9m $43.9m 0.01% Reduced -169.1k -169,122
4 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 548,220548.2k $42.3m $42.3m 0.00% Reduced -266.7k -266,731
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 426,810426.8k $32.9m $32.9m 0.00% Added +40.5k +40,549
6 Hillsdale Investment Management Inc. 1.00% of their portfolio Toronto, A6 350,118350.1k $27.0m $27.0m 1.00% Added +248.4k +248,418
7 State of New Jersey Common Pension Fund D 0.07% of their portfolio TRENTON, NJ 243,678243.7k $18.8m $18.8m 0.07% Reduced -12.7k -12,721
8 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 209,027209.0k $16.1m $16.1m 0.01% Added +5.5k +5,522
9 UBS Group AG 0.00% of their portfolio ZURICH, V8 190,064190.1k $14.7m $14.7m 0.00% Reduced -17.8k -17,789
10 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 186,454186.5k $14.4m $14.4m 0.00% Reduced -5.7k -5,681
11 Nipun Capital, L.P. 6.44% of their portfolio Foster City, CA 153,854153.9k $11.9m $11.9m 6.44% Unchanged
12 Randolph Co Inc 1.10% of their portfolio Cincinnati, OH 139,056139.1k $10.7m $10.7m 1.10% Added +2.0k +2,027
13 CAUSEWAY CAPITAL MANAGEMENT LLC 0.17% of their portfolio LOS ANGELES, CA 137,008137.0k $10.6m $10.6m 0.17% Added +52.2k +52,243
14 Crumly & Associates Inc. 1.83% of their portfolio SPRINGFIELD, IL 97,49497.5k $7.5m $7.5m 1.83% Added +4.2k +4,176
15 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 89,48389.5k $6.9m $6.9m 0.00% Reduced -17.4k -17,381
16 Mainsail Financial Group, LLC 3.19% of their portfolio BELLEVUE, WA 88,56188.6k $6.8m $6.8m 3.19% Added +2.4k +2,448
17 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 73,62873.6k $5.7m $5.7m 0.00% Added +68.1k +68,130
18 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 71,24371.2k $5.5m $5.5m 0.00% Added +8.5k +8,533
19 ARDSLEY ADVISORY PARTNERS LP 0.76% of their portfolio Norwalk, CT 60,00060.0k $4.6m $4.6m 0.76% New
20 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 57,88957.9k $4.5m $4.5m 0.01% Added +43.9k +43,883
21 SHELL ASSET MANAGEMENT CO 0.14% of their portfolio THE HAGUE, P7 50,87650.9k $3.9m $3.9m 0.14% Added +24 +24
22 OLD MISSION CAPITAL LLC 0.10% of their portfolio CHICAGO, IL 50,18350.2k $3.9m $3.9m 0.10% Reduced -31.0k -30,978
23 Leibman Financial Services, Inc. 2.94% of their portfolio LOUISVILLE, NE 49,55549.6k $3.8m $3.8m 2.94% Added +3.0k +3,003
24 VestGen Advisors, LLC 0.15% of their portfolio CHICAGO, IL 48,75648.8k $3.8m $3.8m 0.15% New
25 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 45,65145.7k $3.5m $3.5m 0.00% Added +33.0k +32,998
26 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 44,83244.8k $3.5m $3.5m 0.00% Added +1.7k +1,713
27 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 39,49039.5k $3.0m $3.0m 0.00% Added +7.2k +7,201
28 Concord Wealth Partners 0.43% of their portfolio ABINGDON, VA 38,56138.6k $3.0m $3.0m 0.43% Reduced -10.7k -10,713
29 Concord Asset Management, LLC/VA 0.45% of their portfolio ABINGDON, VA 38,56138.6k $3.0m $3.0m 0.45% Reduced -7.5k -7,512
30 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 37,67737.7k $2.9m $2.9m 0.00% Reduced -340.6k -340,584
31 Highland Financial Advisors, LLC 0.91% of their portfolio WAYNE, NJ 36,77236.8k $2.8m $2.8m 0.91% Reduced -642 -642
32 626 Financial, LLC 1.29% of their portfolio PORTAGE, MI 35,57635.6k $2.7m $2.7m 1.29% Reduced -25 -25
33 Patriot Financial Group Insurance Agency, LLC 0.30% of their portfolio Westborough, MA 33,44333.4k $2.6m $2.6m 0.30% Added +649 +649
34 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 32,13832.1k $2.5m $2.5m 0.00% Added +27.3k +27,284
35 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 30,80930.8k $2.4m $2.4m 0.00% Added +21.1k +21,081
36 WASATCH ADVISORS LP 0.01% of their portfolio SALT LAKE CITY, UT 29,91429.9k $2.3m $2.3m 0.01% Unchanged
37 FLOW TRADERS U.S. LLC 0.08% of their portfolio NEW YORK, NY 26,87326.9k $2.1m $2.1m 0.08% New
38 Legal & General Group Plc 0.00% of their portfolio London, X0 25,45025.4k $2.0m $2.0m 0.00% Reduced -7.0k -7,000
39 MANNING & NAPIER ADVISORS LLC 0.02% of their portfolio Fairport, NY 24,81124.8k $1.9m $1.9m 0.02% Added +480 +480
40 KESTRA PRIVATE WEALTH SERVICES, LLC 0.03% of their portfolio AUSTIN, TX 24,18324.2k $1.9m $1.9m 0.03% New
41 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 23,53823.5k $1.8m $1.8m 0.00% Added +11.6k +11,642
42 LOOMIS SAYLES & CO L P 0.00% of their portfolio BOSTON, MA 21,50221.5k $1.7m $1.7m 0.00% Added +12.6k +12,633
43 Banco BTG Pactual S.A. 0.32% of their portfolio RIO DE JANEIRO, D5 20,50020.5k $1.6m $1.6m 0.32% Reduced -500 -500
44 Aberdeen Group plc 0.00% of their portfolio EDINBURGH, X0 20,44620.4k $1.6m $1.6m 0.00% Reduced -1.3k -1,254
45 ADVISORS MANAGEMENT GROUP INC /ADV 0.30% of their portfolio LA CROSSE, WI 20,43420.4k $1.6m $1.6m 0.30% Added +350 +350
46 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 19,63319.6k $1.5m $1.5m 0.00% Added +19.6k +19,603
47 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 17,53617.5k $1.4m $1.4m 0.01% Reduced -2.5k -2,480
48 DHK Financial Advisors, Inc. 0.76% of their portfolio PORTSMOUTH, NH 17,10217.1k $1.3m $1.3m 0.76% Unchanged
49 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 16,63116.6k $1.3m $1.3m 0.00% Reduced -5.9k -5,936
50 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 16,10816.1k $1.2m $1.2m 0.01% Reduced -280 -280
51 Algorithmic Investment Models, LLC 0.84% of their portfolio Boston, MA 15,87715.9k $1.2m $1.2m 0.84% New
52 Federation des caisses Desjardins du Quebec 0.01% of their portfolio LEVIS, A8 15,54415.5k $1.2m $1.2m 0.01% Reduced -15.5k -15,533
53 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 15,12215.1k $1.2m $1.2m 0.00% Reduced -1.6k -1,606
54 Banque Cantonale Vaudoise 0.05% of their portfolio LAUSANNE, V8 15,00015.0k $1.2m $1.2m 0.05% Unchanged
55 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio CHICAGO, IL 14,44214.4k $1.1m $1.1m 0.00% Added +2.6k +2,650
56 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 13,21013.2k $1.0m $1.0m 0.00% Reduced -5.7k -5,668
57 Channing Global Advisors, LLC 0.61% of their portfolio Miami, FL 12,21512.2k $942.8k $942.8k 0.61% Reduced -3.3k -3,337
58 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 10,95511.0k $846.0k $846.0k 0.00% Added +127 +127
59 Bryn Mawr Trust Advisors, LLC 0.05% of their portfolio PHILADELPHIA, PA 10,70110.7k $825.9k $825.9k 0.05% Added +1.5k +1,534
60 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 10,53510.5k $813.0k $813.0k 0.00% Reduced -10.1k -10,056
61 Pathstone Holdings, LLC 0.00% of their portfolio ENGLEWOOD, NJ 10,53210.5k $812.9k $812.9k 0.00% Unchanged
62 Belpointe Asset Management LLC 0.03% of their portfolio RENO, NV 10,51310.5k $811.5k $811.5k 0.03% Reduced -1.4k -1,424
63 Lingohr Asset Management GmbH 1.47% of their portfolio DUESSELDORF, 2M 10,50010.5k $810.0k $810.0k 1.47% Reduced -500 -500
64 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 9,4559.5k $730.0k $730.0k 0.00% Added +1.8k +1,787
65 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 9,2509.2k $713.9k $713.9k 0.00% Reduced -9.9k -9,924
66 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 9,0179.0k $695.9k $695.9k 0.00% Added +5.0k +5,000
67 PARK AVENUE SECURITIES LLC 0.01% of their portfolio NEW YORK, NY 8,5058.5k $656.0k $656.0k 0.01% Added +4.4k +4,418
68 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 8,4388.4k $651.3k $651.3k 0.00% Added +137 +137
69 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 8,3848.4k $647.1k $647.1k 0.00% Added +99 +99
70 Henshaw Capital LLC 0.02% of their portfolio WOBURN, MA 8,1008.1k $625.2k $625.2k 0.02% Unchanged
71 CALTON & ASSOCIATES, INC. 0.10% of their portfolio Tampa, FL 7,6957.7k $593.9k $593.9k 0.10% Reduced -1.1k -1,116
72 Texas Yale Capital Corp. 0.02% of their portfolio ST. PETERSBURG, FL 7,6457.6k $590.0k $590.0k 0.02% Unchanged
73 Mariner, LLC 0.00% of their portfolio Overland Park, KS 6,6216.6k $511.0k $511.0k 0.00% Added +1.2k +1,213
74 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 6,4576.5k $498.3k $498.3k 0.00% Reduced -5.6k -5,632
75 Blue Trust, Inc. 0.01% of their portfolio BRENTWOOD, TN 6,4116.4k $494.8k $494.8k 0.01% Added +386 +386
76 Equitable Holdings, Inc. 0.00% of their portfolio NEW YORK, NY 6,2326.2k $481.0k $481.0k 0.00% Added +637 +637
77 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 5,6795.7k $438.3k $438.3k 0.00% Reduced -13.2k -13,205
78 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 5,3305.3k $411.4k $411.4k 0.00% Unchanged
79 CAPITAL MANAGEMENT CORP /VA 0.07% of their portfolio GLEN ALLEN, VA 5,2005.2k $401.3k $401.3k 0.07% Unchanged
80 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 5,1335.1k $396.2k $396.2k 0.00% Reduced -711 -711
81 Knollwood Investment Advisory, LLC 0.04% of their portfolio HUNT VALLEY, MD 5,0005.0k $385.9k $385.9k 0.04% Unchanged
82 GHP Investment Advisors, Inc. 0.02% of their portfolio Denver, CO 4,8994.9k $378.1k $378.1k 0.02% Reduced -666 -666
83 GOULD ASSET MANAGEMENT LLC /CA/ 0.07% of their portfolio CLAREMONT, CA 4,7204.7k $364.3k $364.3k 0.07% Reduced -210 -210
84 Elm3 Financial Group, LLC 0.24% of their portfolio ALPHARETTA, GA 3,7423.7k $288.8k $288.8k 0.24% Reduced -100 -100
85 Grey Ledge Advisors, LLC 0.07% of their portfolio GUILFORD, CT 3,6093.6k $278.5k $278.5k 0.07% Reduced -1.2k -1,197
86 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 3,6063.6k $279.4k $279.4k 0.00% New
87 OneDigital Investment Advisors LLC 0.00% of their portfolio OVERLAND PARK, KS 3,4783.5k $268.4k $268.4k 0.00% Added +21 +21
88 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 3,4503.5k $266.3k $266.3k 0.00% New
89 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,3363.3k $257.5k $257.5k 0.00% Added +667 +667
90 Perennial Investment Advisors, LLC 0.02% of their portfolio Los Angeles, CA 3,0003.0k $231.5k $231.5k 0.02% Reduced -4.6k -4,620
91 SAX WEALTH ADVISORS, LLC 0.01% of their portfolio PARSIPPANY, NJ 2,9863.0k $230.5k $230.5k 0.01% Unchanged
92 Ironsides Asset Advisors, LLC 0.06% of their portfolio ROCKY MOUNT, NC 2,9012.9k $223.9k $223.9k 0.06% New
93 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 2,7772.8k $214.3k $214.3k 0.00% Unchanged
94 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 2,7712.8k $213.9k $213.9k 0.00% Reduced -40 -40
95 National Philanthropic Trust 0.00% of their portfolio Jenkintown, PA 2,7402.7k $211.5k $211.5k 0.00% New
96 FMR LLC 0.00% of their portfolio BOSTON, MA 2,0822.1k $160.7k $160.7k 0.00% Added +200 +200
97 THOMPSON INVESTMENT MANAGEMENT, INC. 0.02% of their portfolio MADISON, WI 2,0032.0k $154.6k $154.6k 0.02% Unchanged
98 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 1,5251.5k $116.3k $116.3k 0.00% Added +180 +180
99 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 1,5001.5k $115.8k $115.8k 0.00% Unchanged
100 HARBOR INVESTMENT ADVISORY, LLC 0.01% of their portfolio LUTHERVILLE, MD 963963 $74.3k $74.3k 0.01% Reduced -50 -50