Vault-13

ISHARES TR USMV

MSCI USA MIN VOL · ETP · CUSIP 46429B697

1,132 institutional holders -26 vs Q4 2022
302,727,686302.7m shares reported held*
$21.9bnreported value*
58 new 452 added 447 reduced 79 sold out net sold ≈ $372.7m (-2.7m 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 ($38.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $72.25. Options: 3 managers hold calls ($2.5m notional), 1 hold puts ($50.9k).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,066Q4 22: 1,158Q1 23: 1,1321,132Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 20221,066
Q4 20221,158
Q1 20231,132

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 22: 482 bought or addedQ4 22: 510 cut or sold outQ4 22Q1 23: 510 bought or addedQ1 23: 526 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022482510
Q1 2023510526

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ3 22 calls: $2.2mQ3 22 puts: $212.0kQ3 22P/C 0.10Q4 22 calls: $2.3mQ4 22 puts: $3.4mQ4 22P/C 1.49Q1 23 calls: $2.5mQ1 23 puts: $50.9kQ1 23P/C 0.02
Numbers
QuarterCallsPutsP/C
Q3 2022$2.2m$212.0k0.10
Q4 2022$2.3m$3.4m1.49
Q1 2023$2.5m$50.9k0.02

Biggest buyers

FMR LLC Added +4,932,226+4.9m
ENVESTNET ASSET MANAGEMENT INC Added +2,832,040+2.8m
Summit Wealth Group, LLC Added +2,223,157+2.2m
MERCER GLOBAL ADVISORS INC /ADV Added +1,105,642+1.1m
BANK OF AMERICA CORP /DE/ Added +869,759+869.8k
CWM, LLC Added +724,134+724.1k
LPL Financial LLC Added +651,701+651.7k
JPMORGAN CHASE & CO Added +592,907+592.9k
OSAIC HOLDINGS, INC. Added +498,820+498.8k
PFS INVESTMENTS INC. Added +447,021+447.0k

Biggest sellers

RAYMOND JAMES & ASSOCIATES Reduced -7,663,384-7.7m
ALLSTATE CORP Sold out -4,280,000-4.3m
BlackRock Inc. Reduced -2,960,078-3.0m
FIRST CITIZENS BANK & TRUST CO Reduced -2,213,396-2.2m
Allianz Asset Management GmbH Reduced -819,937-819.9k
CAPSTONE INVESTMENT ADVISORS, LLC Reduced -594,980-595.0k
SG Americas Securities, LLC Reduced -396,503-396.5k
Brookstone Capital Management Reduced -384,589-384.6k
UBS Group AG Reduced -302,035-302.0k
Magnus Financial Group LLC Reduced -301,128-301.1k

Biggest calls

CITADEL ADVISORS LLC Reduced $1.2m16.0k shares
Belvedere Trading LLC New $698.3k9.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $589.2k8.1k shares

Biggest puts

CITADEL ADVISORS LLC Reduced $50.9k700 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
FMR LLC 13G · institution +1.3 pts · filed 2026-05-06 6.3% +1.3 pts 15.4m≈ $1.5bn 2026-05-06

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.34% of their portfolio CHARLOTTE, NC 41,054,96741.1m $3.0bn $3.0bn 0.34% Added +869.8k +869,759
2 ENVESTNET ASSET MANAGEMENT INC 0.89% of their portfolio Berwyn, PA 25,463,30125.5m $1.9bn $1.9bn 0.89% Added +2.8m +2,832,040
3 FMR LLC 0.08% of their portfolio BOSTON, MA 25,437,18025.4m $1.9bn $1.9bn 0.08% Added +4.9m +4,932,226
4 RAYMOND JAMES & ASSOCIATES 1.49% of their portfolio ST PETERSBURG, FL 23,595,96723.6m $1.7bn $1.7bn 1.49% Reduced -7.7m -7,663,384
5 MORGAN STANLEY 0.12% of their portfolio NEW YORK, NY 15,765,86915.8m $1.1bn $1.1bn 0.12% Added +92.8k +92,757
6 BlackRock Inc. 0.02% of their portfolio New York, NY 10,149,86610.1m $738.3m $738.3m 0.02% Reduced -3.0m -2,960,078
7 LPL Financial LLC 0.47% of their portfolio FORT MILL, SC 8,346,9818.3m $607.2m $607.2m 0.47% Added +651.7k +651,701
8 MERCER GLOBAL ADVISORS INC /ADV 1.77% of their portfolio DENVER, CO 5,354,8355.4m $389.5m $389.5m 1.77% Added +1.1m +1,105,642
9 CAPTRUST FINANCIAL ADVISORS 1.64% of their portfolio RALEIGH, NC 5,119,0005.1m $372.4m $372.4m 1.64% Added +347.1k +347,069
10 WELLS FARGO & COMPANY/MN 0.11% of their portfolio SAN FRANCISCO, CA 4,960,9375.0m $360.9m $360.9m 0.11% Reduced -186.3k -186,336
11 AMERIPRISE FINANCIAL INC 0.11% of their portfolio MINNEAPOLIS, MN 4,765,0704.8m $347.4m $347.4m 0.11% Added +542 +542
12 UBS Group AG 0.16% of their portfolio ZURICH, V8 4,649,8654.6m $338.2m $338.2m 0.16% Reduced -302.0k -302,035
13 Raymond James Financial Services Advisors, Inc. 0.59% of their portfolio ST. PETERSBURG, FL 4,242,4264.2m $308.6m $308.6m 0.59% Reduced -190.9k -190,924
14 PNC Financial Services Group, Inc. 0.24% of their portfolio Pittsburgh, PA 3,699,5043.7m $269.1m $269.1m 0.24% Reduced -155.5k -155,495
15 CWM, LLC 1.78% of their portfolio OMAHA, NE 3,627,8243.6m $263.9m $263.9m 1.78% Added +724.1k +724,134
16 FIRST CITIZENS BANK & TRUST CO 4.71% of their portfolio RALEIGH, NC 3,247,2483.2m $236.2m $236.2m 4.71% Reduced -2.2m -2,213,396
17 OSAIC HOLDINGS, INC. 0.44% of their portfolio SCOTTSDALE, AZ 3,236,8323.2m $235.6m $235.6m 0.44% Added +498.8k +498,820
18 COMMONWEALTH EQUITY SERVICES, LLC 0.47% of their portfolio WALTHAM, MA 3,105,9043.1m $225.9m $225.9m 0.47% Reduced -19.1k -19,119
19 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.31% of their portfolio MILWAUKEE, WI 3,063,9023.1m $222.9m $222.9m 0.31% Added +42.7k +42,744
20 SEI INVESTMENTS CO 0.40% of their portfolio OAKS, PA 2,934,3022.9m $213.4m $213.4m 0.40% Added +78.2k +78,237
21 Summit Wealth Group, LLC 0.09% of their portfolio WHITE RIVER JUNCTION, VT 2,382,5672.4m $33 $33 0.09% Added +2.2m +2,223,157
22 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 2,278,1542.3m $165.7m $165.7m 0.02% Added +592.9k +592,907
23 Brookstone Capital Management 2.84% of their portfolio WHEATON, IL 1,969,2972.0m $145.7m $145.7m 2.84% Reduced -384.6k -384,589
24 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 1,947,7021.9m $141.7m $141.7m 0.04% Reduced -98.0k -98,043
25 US BANCORP \DE\ 0.21% of their portfolio MINNEAPOLIS, MN 1,722,4361.7m $125.3m $125.3m 0.21% Reduced -167.0k -166,957
26 SG Americas Securities, LLC 1.65% of their portfolio NEW YORK, NY 1,682,8881.7m $122.4m $122.4m 1.65% Reduced -396.5k -396,503
27 Cambridge Investment Research Advisors, Inc. 0.59% of their portfolio FAIRFIELD, IA 1,656,8401.7m $120.5m $120.5m 0.59% Added +28.3k +28,258
28 ASSETMARK, INC 0.49% of their portfolio CONCORD, CA 1,616,6741.6m $117.6m $117.6m 0.49% Added +134.9k +134,864
29 Mariner, LLC 0.33% of their portfolio Overland Park, KS 1,541,0991.5m $112.1m $112.1m 0.33% Reduced -140.3k -140,266
30 MML INVESTORS SERVICES, LLC 0.77% of their portfolio SPRINGFIELD, MA 1,488,2091.5m $108.3m $108.3m 0.77% Added +117.8k +117,750
31 SECURIAN ASSET MANAGEMENT, INC 2.65% of their portfolio ST PAUL, MN 1,364,4121.4m $99.2m $99.2m 2.65% Reduced -154.5k -154,519
32 Janney Montgomery Scott LLC 0.38% of their portfolio PHILADELPHIA, PA 1,292,0811.3m $94.0m $94.0m 0.38% Added +22.2k +22,210
33 Cetera Advisors LLC 1.56% of their portfolio DENVER, CO 1,290,3491.3m $93.9m $93.9m 1.56% Reduced -51.9k -51,866
34 PARK AVENUE SECURITIES LLC 1.53% of their portfolio NEW YORK, NY 1,222,3591.2m $88.9m $88.9m 1.53% Added +358.5k +358,519
35 WADE G W & INC 3.07% of their portfolio Wellesley, MA 1,097,8181.1m $79.9m $79.9m 3.07% Reduced -23.9k -23,945
36 JOHNSON INVESTMENT COUNSEL INC 1.04% of their portfolio Cincinnati, OH 1,081,7321.1m $78.7m $78.7m 1.04% Reduced -29.2k -29,175
37 Financial Advisors, LLC 19.82% of their portfolio ANDOVER, MA 1,075,7871.1m $78.3m $78.3m 19.82% Added +27.4k +27,351
38 J.P. Morgan Private Wealth Advisors LLC 0.16% of their portfolio SAN FRANCISCO, CA 1,054,5811.1m $76.7m $76.7m 0.16% Added +1.5k +1,508
39 Integrated Wealth Concepts LLC 1.56% of their portfolio WALTHAM, MA 1,039,2921.0m $75.6m $75.6m 1.56% Added +83.8k +83,816
40 AJ WEALTH STRATEGIES, LLC 3.90% of their portfolio NEW YORK, NY 1,028,2421.0m $74.8m $74.8m 3.90% Reduced -21.3k -21,265
41 Allianz Asset Management GmbH 0.15% of their portfolio MUNICH, 2M 986,640986.6k $71.8m $71.8m 0.15% Reduced -819.9k -819,937
42 Symmetry Partners, LLC 3.71% of their portfolio GLASTONBURY, CT 926,441926.4k $67.3m $67.3m 3.71% Added +28.5k +28,511
43 Horizon Investments, LLC 1.83% of their portfolio Charlotte, NC 847,449847.4k $61.6m $61.6m 1.83% Added +261.6k +261,550
44 Cetera Investment Advisers 0.53% of their portfolio SCHAUMBURG, IL 830,630830.6k $60.4m $60.4m 0.53% Added +138.4k +138,425
45 Advocacy Wealth Management, LLC 6.50% of their portfolio ATLANTA, GA 736,129736.1k $53.5m $53.5m 6.50% Added +154.0k +153,989
46 AE Wealth Management LLC 0.34% of their portfolio TOPEKA, KS 731,069731.1k $53.2m $53.2m 0.34% Added +137.2k +137,238
47 Private Advisor Group, LLC 0.51% of their portfolio MORRISTOWN, NJ 729,304729.3k $53.0m $53.0m 0.51% Reduced -28.5k -28,519
48 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 719,995720.0k $52.4m $52.4m 0.01% Added +111.3k +111,316
49 PFS INVESTMENTS INC. 0.91% of their portfolio DULUTH, GA 711,469711.5k $52.3m $52.3m 0.91% Added +447.0k +447,021
50 Steward Partners Investment Advisory, LLC 0.82% of their portfolio STAMFORD, CT 701,802701.8k $51.0m $51.0m 0.82% Reduced -7.5k -7,459
51 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 678,450678.5k $49.4m $49.4m 0.07% Added +37.8k +37,754
52 OneDigital Investment Advisors LLC 1.10% of their portfolio OVERLAND PARK, KS 644,718644.7k $46.9m $46.9m 1.10% Added +157.7k +157,741
53 Legacy Financial Advisors, Inc. 9.42% of their portfolio COVINGTON, KY 633,600633.6k $46.1m $46.1m 9.42% Reduced -12.3k -12,336
54 Cetera Advisor Networks LLC 0.31% of their portfolio EL SEGUNDO, CA 572,287572.3k $41.6m $41.6m 0.31% Added +64.7k +64,667
55 M&T Bank Corp 0.16% of their portfolio BUFFALO, NY 557,766557.8k $40.6m $40.6m 0.16% Reduced -35.9k -35,880
56 TRUIST FINANCIAL CORP 0.07% of their portfolio CHARLOTTE, NC 548,912548.9k $39.9m $39.9m 0.07% Added +40.8k +40,835
57 TWO SIGMA INVESTMENTS, LP 0.12% of their portfolio NEW YORK, NY 544,700544.7k $39.6m $39.6m 0.12% Added +800 +800
58 Fragasso Financial Advisors Inc 4.44% of their portfolio SEWICKLEY, PA 536,306536.3k $39.0m $39.0m 4.44% Added +2.2k +2,192
59 KEYBANK NATIONAL ASSOCIATION/OH 0.18% of their portfolio BROOKLYN, OH 532,389532.4k $38.7m $38.7m 0.18% Reduced -25.2k -25,195
60 Halpern Financial, Inc. 13.58% of their portfolio ASHBURN, VA 519,102519.1k $37.8m $37.8m 13.58% Reduced -75.7k -75,708
61 DAIDO LIFE INSURANCE CO 3.73% of their portfolio TOKYO, M0 513,412513.4k $37.3m $37.3m 3.73% Unchanged
62 Intelligence Driven Advisers, LLC 6.71% of their portfolio CARLSBAD, CA 509,240509.2k $37.3m $37.3m 6.71% Added +7.8k +7,829
63 NewEdge Advisors, LLC 0.46% of their portfolio NEW ORLEANS, LA 508,343508.3k $37.0m $37.0m 0.46% Added +91.9k +91,859
64 Geneos Wealth Management Inc. 2.20% of their portfolio ENGLEWOOD, CO 498,815498.8k $36.3m $36.3m 2.20% Added +3.5k +3,542
65 ARS Wealth Advisors Group, LLC 6.68% of their portfolio St. Petersburg, FL 498,238498.2k $36.2m $36.2m 6.68% Added +1.1k +1,082
66 Parallel Advisors, LLC 1.13% of their portfolio SAN FRANCISCO, CA 460,427460.4k $33.5m $33.5m 1.13% Added +15.2k +15,180
67 Crestwood Advisors Group, LLC 1.11% of their portfolio BOSTON, MA 457,554457.6k $33.3m $33.3m 1.11% Added +8.4k +8,412
68 Klingman & Associates, LLC 2.83% of their portfolio New York, NY 452,243452.2k $32.9m $32.9m 2.83% Reduced -7.4k -7,369
69 Atria Wealth Solutions, Inc. 0.48% of their portfolio NEW YORK, NY 446,295446.3k $32.5m $32.5m 0.48% Added +24.0k +23,970
70 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 440,267440.3k $32.0m $32.0m 0.01% Added +6.4k +6,449
71 Executive Wealth Management, LLC 3.49% of their portfolio BRIGHTON, MI 432,042432.0k $31.4m $31.4m 3.49% Reduced -41.2k -41,245
72 TWO SIGMA ADVISERS, LP 0.08% of their portfolio NEW YORK, NY 427,500427.5k $31.1m $31.1m 0.08% Added +390.6k +390,600
73 SageView Advisory Group, LLC 1.95% of their portfolio Newport Beach, CA 420,719420.7k $30.6m $30.6m 1.95% Reduced -164.6k -164,583
74 GLENMEDE TRUST CO NA 0.17% of their portfolio PHILADELPHIA, PA 408,514408.5k $29.7m $29.7m 0.17% Added +15.6k +15,592
75 HighTower Advisors, LLC 0.06% of their portfolio CHICAGO, IL 406,429406.4k $29.6m $29.6m 0.06% Reduced -6.2k -6,219
76 WEALTHSOURCE PARTNERS, LLC 1.98% of their portfolio SAN LUIS OBISPO, CA 402,204402.2k $29.3m $29.3m 1.98% Added +152.8k +152,769
77 Wealth Advisors of Iowa, LLC 22.31% of their portfolio WEST DES MOINES, IA 392,638392.6k $28.6m $28.6m 22.31% Reduced -259.4k -259,435
78 Cassia Capital Partners, LLC 22.81% of their portfolio WINSTON SALEM, NC 390,613390.6k $28.4m $28.4m 22.81% Added +42.9k +42,906
79 Beacon Pointe Advisors, LLC 0.48% of their portfolio NEWPORT BEACH, CA 387,053387.1k $28.2m $28.2m 0.48% Added +4.4k +4,407
80 Sovereign Investment Advisors, LLC 11.06% of their portfolio PHOENIX, AZ 383,183383.2k $27.9m $27.9m 11.06% Added +1.5k +1,474
81 Leelyn Smith, LLC 6.94% of their portfolio GENEVA, IL 372,811372.8k $27.1m $27.1m 6.94% Added +17.8k +17,823
82 MONEY CONCEPTS CAPITAL CORP 0.39% of their portfolio PALM BEACH GARDENS, FL 359,653359.7k $7.0m $7.0m 0.39% Added +217.5k +217,525
83 FIRST HAWAIIAN BANK 0.86% of their portfolio HONOLULU, HI 349,488349.5k $25.4m $25.4m 0.86% Unchanged
84 Kestra Advisory Services, LLC 0.28% of their portfolio AUSTIN, TX 349,045349.0k $25.4m $25.4m 0.28% Reduced -112.3k -112,286
85 Thrivent Financial for Lutherans 0.06% of their portfolio Minneapolis, MN 346,262346.3k $25.1m $25.1m 0.06% Added +6.9k +6,944
86 NOTTINGHAM ADVISORS, INC. 3.34% of their portfolio AMHERST, NY 345,311345.3k $25.1m $25.1m 3.34% Reduced -3.2k -3,241
87 Rakuten Investment Management, Inc. 0.30% of their portfolio TOKYO, M0 344,203344.2k $24.8m $24.8m 0.30% Added +22.1k +22,100
88 AVANTAX ADVISORY SERVICES, INC. 0.30% of their portfolio DALLAS, TX 342,191342.2k $24.9m $24.9m 0.30% Reduced -2.3k -2,333
89 Insight Wealth Strategies, LLC 4.75% of their portfolio SAN RAMON, CA 333,247333.2k $24.2m $24.2m 4.75% Reduced -9.3k -9,327
90 CX Institutional 1.29% of their portfolio AUBURN, IN 331,095331.1k $24.1m $24.1m 1.29% Added +44.5k +44,545
91 Equitable Holdings, Inc. 0.38% of their portfolio NEW YORK, NY 330,538330.5k $24.0m $24.0m 0.38% Reduced -36.8k -36,839
92 MAI Capital Management 0.38% of their portfolio INDEPENDENCE, OH 328,372328.4k $23.9m $23.9m 0.38% Added +40.9k +40,856
93 Stratos Wealth Partners, LTD. 0.62% of their portfolio BEACHWOOD, OH 321,987322.0k $23.4m $23.4m 0.62% Reduced -200.5k -200,537
94 High Probability Advisors, LLC 5.42% of their portfolio Pittsford, NY 318,865318.9k $23.2m $23.2m 5.42% Added +34.7k +34,673
95 JB Capital LLC 2.11% of their portfolio WETHERSFIELD, CT 317,661317.7k $23.1m $23.1m 2.11% Added +93.7k +93,690
96 Gateway Wealth Partners, LLC 3.52% of their portfolio APPLETON, WI 314,512314.5k $22.9m $22.9m 3.52% Reduced -1.8k -1,779
97 Rehmann Capital Advisory Group 2.11% of their portfolio LANSING, MI 308,399308.4k $22.4m $22.4m 2.11% Added +258 +258
98 MV CAPITAL MANAGEMENT, INC. 3.14% of their portfolio BETHESDA, MD 307,307307.3k $22.4m $22.4m 3.14% Reduced -1.8k -1,845
99 Foundations Investment Advisors, LLC 0.80% of their portfolio PHOENIX, AZ 305,859305.9k $22.2m $22.2m 0.80% Added +81.8k +81,839
100 CITIZENS FINANCIAL GROUP INC/RI 0.81% of their portfolio PROVIDENCE, RI 305,431305.4k $22.2m $22.2m 0.81% Reduced -8.1k -8,124