Vault-13

ISHARES TR SMIN

MSCI INDIA SM CP · ETP · CUSIP 46429B614

124 institutional holders -16 vs Q2 2025
6,933,5416.9m shares reported held*
$497.9mreported value*
14 new 31 added 56 reduced 29 sold out net bought ≈ $4.5m (+55.2k 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 ($508.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $71.80. Options: 2 managers hold calls ($810.4k notional), 1 hold puts ($423.1k).

Trends to Q3 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: 140Q3 25: 124124Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025124

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 23: 76 bought or addedQ4 23: 32 cut or sold outQ1 24: 94 bought or addedQ1 24: 46 cut or sold outQ1 24Q2 24: 88 bought or addedQ2 24: 46 cut or sold outQ3 24: 84 bought or addedQ3 24: 60 cut or sold outQ3 24Q4 24: 72 bought or addedQ4 24: 78 cut or sold outQ1 25: 64 bought or addedQ1 25: 85 cut or sold outQ1 25Q2 25: 67 bought or addedQ2 25: 58 cut or sold outQ3 25: 45 bought or addedQ3 25: 85 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20237632
Q1 20249446
Q2 20248846
Q3 20248460
Q4 20247278
Q1 20256485
Q2 20256758
Q3 20254585

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ4 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 0.34Q3 25 calls: $810.4kQ3 25 puts: $423.1kQ3 25P/C 0.52
Numbers
QuarterCallsPutsP/C
Q4 2024$955.6k$1.9m1.99
Q1 2025$2.0m$531.1k0.27
Q2 2025$2.2m$764.1k0.34
Q3 2025$810.4k$423.1k0.52

Biggest buyers

Man Group plc New +263,460+263.5k
JANE STREET GROUP, LLC Added +259,379+259.4k
CAUSEWAY CAPITAL MANAGEMENT LLC Added +230,512+230.5k
BlackRock, Inc. New +174,785+174.8k
Hillsdale Investment Management Inc. Added +147,000+147.0k
Informed Momentum Co LLC New +115,775+115.8k
MILLENNIUM MANAGEMENT LLC New +76,136+76.1k
Aberdeen Group plc Added +66,654+66.7k
Summit Financial, LLC New +37,157+37.2k
Balyasny Asset Management L.P. New +29,158+29.2k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -221,969-222.0k
MORGAN STANLEY Reduced -129,651-129.7k
Nipun Capital, L.P. Reduced -113,900-113.9k
State of New Jersey Common Pension Fund D Reduced -107,171-107.2k
UBS Group AG Reduced -81,019-81.0k
FRANKLIN RESOURCES INC Reduced -68,161-68.2k
ARDSLEY ADVISORY PARTNERS LP Sold out -60,000-60.0k
LPL Financial LLC Reduced -58,298-58.3k
ROYAL BANK OF CANADA Reduced -54,736-54.7k
HighTower Advisors, LLC Reduced -43,441-43.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $430.3k6.0k shares
CITADEL ADVISORS LLC Added $380.1k5.3k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $423.1k5.9k 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 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 1,021,9481.0m $73.3m $73.3m 0.02% Reduced -24.1k -24,111
2 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 891,192891.2k $63.9m $63.9m 0.01% Added +20.1k +20,054
3 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 500,447500.4k $35.9m $35.9m 0.01% Reduced -68.2k -68,161
4 Hillsdale Investment Management Inc. 1.08% of their portfolio Toronto, A6 497,118497.1k $35.7m $35.7m 1.08% Added +147.0k +147,000
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 418,569418.6k $30.0m $30.0m 0.00% Reduced -129.7k -129,651
6 CAUSEWAY CAPITAL MANAGEMENT LLC 0.35% of their portfolio LOS ANGELES, CA 367,520367.5k $26.4m $26.4m 0.35% Added +230.5k +230,512
7 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 297,056297.1k $21.3m $21.3m 0.02% Added +259.4k +259,379
8 Man Group plc 0.04% of their portfolio LONDON, X0 263,460263.5k $18.9m $18.9m 0.04% New
9 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 204,841204.8k $14.7m $14.7m 0.00% Reduced -222.0k -221,969
10 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 202,323202.3k $14.5m $14.5m 0.01% Reduced -6.7k -6,704
11 BlackRock, Inc. 0.00% of their portfolio New York, NY 174,785174.8k $12.5m $12.5m 0.00% New
12 Randolph Co Inc 0.97% of their portfolio Cincinnati, OH 139,371139.4k $10.0m $10.0m 0.97% Added +315 +315
13 State of New Jersey Common Pension Fund D 0.04% of their portfolio TRENTON, NJ 136,507136.5k $9.8m $9.8m 0.04% Reduced -107.2k -107,171
14 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 128,156128.2k $9.2m $9.2m 0.00% Reduced -58.3k -58,298
15 Informed Momentum Co LLC 0.95% of their portfolio SOLANA BEACH, CA 115,775115.8k $8.3m $8.3m 0.95% New
16 UBS Group AG 0.00% of their portfolio ZURICH, V8 109,045109.0k $7.8m $7.8m 0.00% Reduced -81.0k -81,019
17 Crumly & Associates Inc. 1.58% of their portfolio SPRINGFIELD, IL 100,926100.9k $7.2m $7.2m 1.58% Added +3.4k +3,432
18 Mainsail Financial Group, LLC 2.84% of their portfolio BELLEVUE, WA 91,94391.9k $6.6m $6.6m 2.84% Added +3.4k +3,382
19 Aberdeen Group plc 0.01% of their portfolio EDINBURGH, X0 87,10087.1k $6.2m $6.2m 0.01% Added +66.7k +66,654
20 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 76,13676.1k $5.5m $5.5m 0.00% New
21 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 75,13775.1k $5.4m $5.4m 0.00% Reduced -14.3k -14,346
22 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 58,02858.0k $4.2m $4.2m 0.00% Reduced -13.2k -13,215
23 VestGen Advisors, LLC 0.12% of their portfolio CHICAGO, IL 50,42950.4k $3.6m $3.6m 0.12% Added +1.7k +1,673
24 OLD MISSION CAPITAL LLC 0.13% of their portfolio CHICAGO, IL 50,00550.0k $3.6m $3.6m 0.13% Reduced -178 -178
25 Leibman Financial Services, Inc. 2.54% of their portfolio LOUISVILLE, NE 46,61846.6k $3.3m $3.3m 2.54% Reduced -2.9k -2,937
26 FLOW TRADERS U.S. LLC 0.13% of their portfolio NEW YORK, NY 44,33844.3k $3.2m $3.2m 0.13% Added +17.5k +17,465
27 Nipun Capital, L.P. 2.17% of their portfolio Foster City, CA 39,95440.0k $3.4m $3.4m 2.17% Reduced -113.9k -113,900
28 Highland Financial Advisors, LLC 0.81% of their portfolio WAYNE, NJ 39,21239.2k $2.8m $2.8m 0.81% Added +2.4k +2,440
29 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 38,30738.3k $2.8m $2.8m 0.00% Reduced -1.2k -1,183
30 Summit Financial, LLC 0.04% of their portfolio PARSIPPANY, NJ 37,15737.2k $2.7m $2.7m 0.04% New
31 626 Financial, LLC 1.13% of their portfolio PORTAGE, MI 35,62935.6k $2.6m $2.6m 1.13% Added +53 +53
32 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 29,49929.5k $2.1m $2.1m 0.00% Reduced -1.3k -1,310
33 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 29,15829.2k $2.1m $2.1m 0.00% New
34 KESTRA PRIVATE WEALTH SERVICES, LLC 0.02% of their portfolio AUSTIN, TX 25,55425.6k $1.8m $1.8m 0.02% Added +1.4k +1,371
35 LOOMIS SAYLES & CO L P 0.00% of their portfolio BOSTON, MA 20,49920.5k $1.5m $1.5m 0.00% Reduced -1.0k -1,003
36 Legal & General Group Plc 0.00% of their portfolio London, X0 20,45020.4k $1.5m $1.5m 0.00% Reduced -5.0k -5,000
37 ADVISORS MANAGEMENT GROUP INC /ADV 0.26% of their portfolio LA CROSSE, WI 20,37820.4k $1.5m $1.5m 0.26% Reduced -56 -56
38 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 19,05219.1k $1.4m $1.4m 0.00% Added +9.8k +9,802
39 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 18,89218.9k $1.4m $1.4m 0.00% Reduced -54.7k -54,736
40 MANNING & NAPIER ADVISORS LLC 0.02% of their portfolio Fairport, NY 17,63417.6k $1.3m $1.3m 0.02% Reduced -7.2k -7,177
41 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 16,73816.7k $1.2m $1.2m 0.00% Added +107 +107
42 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 16,33116.3k $1.2m $1.2m 0.00% Added +1.2k +1,209
43 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 16,22716.2k $1.2m $1.2m 0.00% Reduced -29.4k -29,424
44 GTS SECURITIES LLC 0.04% of their portfolio NEW YORK, NY 16,06516.1k $1.2m $1.2m 0.04% New
45 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 16,04916.0k $1.2m $1.2m 0.01% Reduced -59 -59
46 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 15,09915.1k $1.1m $1.1m 0.00% Reduced -29.7k -29,733
47 Banque Cantonale Vaudoise 0.04% of their portfolio LAUSANNE, V8 15,00015.0k $1.1m $1.1m 0.04% Unchanged
48 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 14,44814.4k $1.0m $1.0m 0.00% Reduced -43.4k -43,441
49 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 14,09414.1k $1.0m $1.0m 0.00% Added +884 +884
50 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio CHICAGO, IL 13,09213.1k $939.0k $939.0k 0.00% Reduced -1.4k -1,350
51 Channing Global Advisors, LLC 0.61% of their portfolio Miami, FL 12,21512.2k $876.1k $876.1k 0.61% Unchanged
52 Lingohr Asset Management GmbH 1.47% of their portfolio DUESSELDORF, 2M 11,70011.7k $839.0k $839.0k 1.47% Added +1.2k +1,200
53 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 11,66111.7k $836.0k $836.0k 0.00% Added +706 +706
54 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 10,85910.9k $778.8k $778.8k 0.00% Reduced -6.7k -6,677
55 Westerkirk Capital Inc. 0.09% of their portfolio VICTORIA, A1 10,80010.8k $774.6k $774.6k 0.09% New
56 Belpointe Asset Management LLC 0.03% of their portfolio RENO, NV 10,74710.7k $770.8k $770.8k 0.03% Added +234 +234
57 SHELL ASSET MANAGEMENT CO 0.08% of their portfolio THE HAGUE, P7 10,44410.4k $749.0k $749.0k 0.08% Reduced -40.4k -40,432
58 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 9,8149.8k $703.9k $703.9k 0.00% Reduced -721 -721
59 PARK AVENUE SECURITIES LLC 0.01% of their portfolio NEW YORK, NY 8,9949.0k $645.0k $645.0k 0.01% Added +489 +489
60 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 8,7718.8k $629.1k $629.1k 0.00% Added +333 +333
61 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 8,5868.6k $615.8k $615.8k 0.00% Added +202 +202
62 Texas Yale Capital Corp. 0.02% of their portfolio ST. PETERSBURG, FL 7,6457.6k $548.3k $548.3k 0.02% Unchanged
63 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 7,2157.2k $517.5k $517.5k 0.00% Reduced -24.9k -24,923
64 Equitable Holdings, Inc. 0.00% of their portfolio NEW YORK, NY 7,0927.1k $508.6k $508.6k 0.00% Added +860 +860
65 Blue Trust, Inc. 0.01% of their portfolio BRENTWOOD, TN 6,7786.8k $486.1k $486.1k 0.01% Added +367 +367
66 Bryn Mawr Trust Advisors, LLC 0.02% of their portfolio PHILADELPHIA, PA 6,5086.5k $466.8k $466.8k 0.02% Reduced -4.2k -4,193
67 CALTON & ASSOCIATES, INC. 0.07% of their portfolio Tampa, FL 6,3496.3k $455.3k $455.3k 0.07% Reduced -1.3k -1,346
68 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 6,2586.3k $448.8k $448.8k 0.00% Reduced -199 -199
69 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 5,3925.4k $387.0k $387.0k 0.00% Reduced -4.1k -4,063
70 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 5,3825.4k $386.4k $386.4k 0.00% Reduced -297 -297
71 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 5,3585.4k $384.0k $384.0k 0.00% New
72 CAPITAL MANAGEMENT CORP /VA 0.06% of their portfolio GLEN ALLEN, VA 5,2005.2k $372.9k $372.9k 0.06% Unchanged
73 Knollwood Investment Advisory, LLC 0.03% of their portfolio HUNT VALLEY, MD 5,0005.0k $358.6k $358.6k 0.03% Unchanged
74 Mariner, LLC 0.00% of their portfolio Overland Park, KS 4,9765.0k $356.9k $356.9k 0.00% Reduced -1.6k -1,645
75 GHP Investment Advisors, Inc. 0.01% of their portfolio Denver, CO 4,8994.9k $351.4k $351.4k 0.01% Unchanged
76 GOULD ASSET MANAGEMENT LLC /CA/ 0.06% of their portfolio CLAREMONT, CA 4,8104.8k $345.0k $345.0k 0.06% Added +90 +90
77 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 4,1304.1k $296.2k $296.2k 0.00% Reduced -1.2k -1,200
78 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 3,7313.7k $267.6k $267.6k 0.00% Reduced -5.3k -5,286
79 Grey Ledge Advisors, LLC 0.06% of their portfolio GUILFORD, CT 3,5683.6k $255.9k $255.9k 0.06% Reduced -41 -41
80 OneDigital Investment Advisors LLC 0.00% of their portfolio OVERLAND PARK, KS 3,4153.4k $244.9k $244.9k 0.00% Reduced -63 -63
81 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 3,1583.2k $231.4k $231.4k 0.00% Reduced -448 -448
82 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,0203.0k $217.1k $217.1k 0.00% Reduced -316 -316
83 SAX WEALTH ADVISORS, LLC 0.01% of their portfolio PARSIPPANY, NJ 2,9863.0k $214.2k $214.2k 0.01% Unchanged
84 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 2,7772.8k $199.2k $199.2k 0.00% Unchanged
85 FMR LLC 0.00% of their portfolio BOSTON, MA 2,2022.2k $158.0k $158.0k 0.00% Added +120 +120
86 THOMPSON INVESTMENT MANAGEMENT, INC. 0.02% of their portfolio MADISON, WI 2,0032.0k $143.7k $143.7k 0.02% Unchanged
87 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 1,9992.0k $143.4k $143.4k 0.00% Reduced -772 -772
88 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 1,5691.6k $112.5k $112.5k 0.00% Reduced -22.0k -21,969
89 Concord Wealth Partners 0.01% of their portfolio ABINGDON, VA 1,2601.3k $90.4k $90.4k 0.01% Reduced -37.3k -37,301
90 HARBOR INVESTMENT ADVISORY, LLC 0.01% of their portfolio LUTHERVILLE, MD 960960 $68.9k $68.9k 0.01% Reduced -3 -3
91 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 603603 $43.2k $43.2k 0.00% Added +239 +239
92 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 600600 $43.0k $43.0k 0.00% Added +100 +100
93 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 589589 $42.2k $42.2k 0.00% New
94 COMERICA BANK 0.00% of their portfolio DALLAS, TX 465465 $33.4k $33.4k 0.00% Reduced -83 -83
95 HighMark Wealth Management LLC 0.01% of their portfolio ST. PAUL, MN 453453 $32.5k $32.5k 0.01% Unchanged
96 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 409409 $29.3k $29.3k 0.00% Added +75 +75
97 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 400400 $28.7k $28.7k 0.00% Unchanged
98 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 400400 $28.7k $28.7k 0.00% Reduced -15.1k -15,144
99 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 365365 $25.9k $25.9k 0.00% Reduced -1.2k -1,160
100 MB, LEVIS & ASSOCIATES, LLC 0.01% of their portfolio CENTER VALLEY, PA 298298 $21.3k $21.3k 0.01% Unchanged