Vault-13

ISHARES TR USMV

MSCI USA MIN VOL · ETP · CUSIP 46429B697

1,154 institutional holders +22 vs Q1 2023
295,093,882295.1m shares reported held*
$22.0bnreported value*
75 new 426 added 479 reduced 69 sold out net sold ≈ $793.4m (-13.2m 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 ($35.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $74.41. Options: 2 managers hold calls ($1.6m notional), 2 hold puts ($616.9k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,066Q4 22: 1,158Q1 23: 1,132Q2 23: 1,1541,154Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 20221,066
Q4 20221,158
Q1 20231,132
Q2 20231,154

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 23Q2 23: 501 bought or addedQ2 23: 548 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022482510
Q1 2023510526
Q2 2023501548

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 0.02Q2 23 calls: $1.6mQ2 23 puts: $616.9kQ2 23P/C 0.40
Numbers
QuarterCallsPutsP/C
Q3 2022$2.2m$212.0k0.10
Q4 2022$2.3m$3.4m1.49
Q1 2023$2.5m$50.9k0.02
Q2 2023$1.6m$616.9k0.40

Biggest buyers

ENVESTNET ASSET MANAGEMENT INC Added +1,731,554+1.7m
Cerity Partners LLC Added +1,479,730+1.5m
CAPSTONE INVESTMENT ADVISORS, LLC Added +1,207,600+1.2m
MORGAN STANLEY Added +1,131,153+1.1m
Houlihan Financial Resource Group, Ltd. Added +998,894+998.9k
JPMORGAN CHASE & CO Added +883,786+883.8k
MERCER GLOBAL ADVISORS INC /ADV Added +816,830+816.8k
Horizon Investments, LLC Added +671,176+671.2k
BlueCrest Capital Management Ltd Added +572,314+572.3k
Russell Investments Group, Ltd. New +464,056+464.1k

Biggest sellers

FMR LLC Reduced -7,852,587-7.9m
RAYMOND JAMES & ASSOCIATES Reduced -7,685,562-7.7m
Summit Wealth Group, LLC Reduced -2,378,229-2.4m
SG Americas Securities, LLC Reduced -1,675,723-1.7m
Brookstone Capital Management Reduced -521,513-521.5k
TWO SIGMA INVESTMENTS, LP Reduced -424,200-424.2k
Intelligence Driven Advisers, LLC Reduced -421,411-421.4k
Crestwood Advisors Group, LLC Reduced -349,595-349.6k
WELLS FARGO & COMPANY/MN Reduced -329,835-329.8k
TWO SIGMA ADVISERS, LP Reduced -281,400-281.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.5m19.6k shares
CITADEL ADVISORS LLC Reduced $96.6k1.3k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $520.3k7.0k shares
CITADEL ADVISORS LLC Added $96.6k1.3k 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.

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, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.36% of their portfolio CHARLOTTE, NC 41,182,60041.2m $3.1bn $3.1bn 0.36% Added +127.6k +127,633
2 ENVESTNET ASSET MANAGEMENT INC 0.90% of their portfolio Berwyn, PA 27,194,85527.2m $2.0bn $2.0bn 0.90% Added +1.7m +1,731,554
3 FMR LLC 0.11% of their portfolio BOSTON, MA 17,584,59317.6m $1.3bn $1.3bn 0.11% Reduced -7.9m -7,852,587
4 MORGAN STANLEY 0.12% of their portfolio NEW YORK, NY 16,897,02216.9m $1.3bn $1.3bn 0.12% Added +1.1m +1,131,153
5 RAYMOND JAMES & ASSOCIATES 0.97% of their portfolio ST PETERSBURG, FL 15,910,40515.9m $1.2bn $1.2bn 0.97% Reduced -7.7m -7,685,562
6 BlackRock Inc. 0.02% of their portfolio New York, NY 10,168,13710.2m $755.8m $755.8m 0.02% Added +18.3k +18,271
7 LPL Financial LLC 0.43% of their portfolio FORT MILL, SC 8,142,7758.1m $605.3m $605.3m 0.43% Reduced -204.2k -204,206
8 MERCER GLOBAL ADVISORS INC /ADV 1.82% of their portfolio DENVER, CO 6,171,6656.2m $458.7m $458.7m 1.82% Added +816.8k +816,830
9 CAPTRUST FINANCIAL ADVISORS 1.57% of their portfolio RALEIGH, NC 5,356,1895.4m $398.1m $398.1m 1.57% Added +237.2k +237,189
10 AMERIPRISE FINANCIAL INC 0.11% of their portfolio MINNEAPOLIS, MN 4,881,4644.9m $362.9m $362.9m 0.11% Added +116.4k +116,394
11 Alaska Permanent Fund Corp 6.90% of their portfolio JUNEAU, AK 4,721,9044.7m $351.0m $351.0m 6.90% First filing
12 Raymond James Financial Services Advisors, Inc. 0.61% of their portfolio ST. PETERSBURG, FL 4,675,3234.7m $347.5m $347.5m 0.61% Added +432.9k +432,897
13 WELLS FARGO & COMPANY/MN 0.10% of their portfolio SAN FRANCISCO, CA 4,631,1024.6m $344.2m $344.2m 0.10% Reduced -329.8k -329,835
14 UBS Group AG 0.14% of their portfolio ZURICH, V8 4,469,3634.5m $332.2m $332.2m 0.14% Reduced -180.5k -180,502
15 CWM, LLC 1.67% of their portfolio OMAHA, NE 3,632,7893.6m $270.0m $270.0m 1.67% Added +5.0k +4,965
16 PNC Financial Services Group, Inc. 0.22% of their portfolio Pittsburgh, PA 3,433,2923.4m $255.2m $255.2m 0.22% Reduced -266.2k -266,212
17 FIRST CITIZENS BANK & TRUST CO 4.42% of their portfolio RALEIGH, NC 3,233,2263.2m $240.3m $240.3m 4.42% Reduced -14.0k -14,022
18 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 3,161,9403.2m $235.0m $235.0m 0.03% Added +883.8k +883,786
19 OSAIC HOLDINGS, INC. 0.42% of their portfolio SCOTTSDALE, AZ 3,143,2103.1m $233.6m $233.6m 0.42% Reduced -93.6k -93,622
20 COMMONWEALTH EQUITY SERVICES, LLC 0.46% of their portfolio WALTHAM, MA 3,046,3573.0m $226.4m $226.4m 0.46% Reduced -59.5k -59,547
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.28% of their portfolio MILWAUKEE, WI 2,876,0662.9m $213.8m $213.8m 0.28% Reduced -187.8k -187,836
22 SEI INVESTMENTS CO 0.37% of their portfolio OAKS, PA 2,858,1402.9m $212.4m $212.4m 0.37% Reduced -76.2k -76,162
23 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 1,991,0252.0m $148.0m $148.0m 0.04% Added +43.3k +43,323
24 ASSETMARK, INC 0.47% of their portfolio CONCORD, CA 1,626,3981.6m $120.9m $120.9m 0.47% Added +9.7k +9,724
25 US BANCORP \DE\ 0.19% of their portfolio MINNEAPOLIS, MN 1,604,7531.6m $119.3m $119.3m 0.19% Reduced -117.7k -117,683
26 MML INVESTORS SERVICES, LLC 0.65% of their portfolio SPRINGFIELD, MA 1,591,1411.6m $118.3m $118.3m 0.65% Added +102.9k +102,932
27 Cambridge Investment Research Advisors, Inc. 0.53% of their portfolio FAIRFIELD, IA 1,555,2721.6m $115.6m $115.6m 0.53% Reduced -101.6k -101,568
28 Cerity Partners LLC 0.45% of their portfolio NEW YORK, NY 1,549,4461.5m $115.2m $115.2m 0.45% Added +1.5m +1,479,730
29 Horizon Investments, LLC 3.25% of their portfolio Charlotte, NC 1,518,6251.5m $112.9m $112.9m 3.25% Added +671.2k +671,176
30 Mariner, LLC 0.29% of their portfolio Overland Park, KS 1,454,6771.5m $108.1m $108.1m 0.29% Reduced -86.4k -86,422
31 Brookstone Capital Management 2.14% of their portfolio WHEATON, IL 1,447,7841.4m $106.1m $106.1m 2.14% Reduced -521.5k -521,513
32 SECURIAN ASSET MANAGEMENT, INC 2.60% of their portfolio ST PAUL, MN 1,364,4121.4m $101.4m $101.4m 2.60% Unchanged
33 Janney Montgomery Scott LLC 0.34% of their portfolio PHILADELPHIA, PA 1,317,9461.3m $98.0m $98.0m 0.34% Added +25.9k +25,865
34 PARK AVENUE SECURITIES LLC 1.55% of their portfolio NEW YORK, NY 1,316,2401.3m $97.8m $97.8m 1.55% Added +93.9k +93,881
35 CAPSTONE INVESTMENT ADVISORS, LLC 2.75% of their portfolio NEW YORK, NY 1,256,0001.3m $93.4m $93.4m 2.75% Added +1.2m +1,207,600
36 Cetera Advisors LLC 1.42% of their portfolio DENVER, CO 1,213,0321.2m $90.2m $90.2m 1.42% Reduced -77.3k -77,317
37 Integrated Wealth Concepts LLC 1.39% of their portfolio WALTHAM, MA 1,092,7121.1m $81.2m $81.2m 1.39% Added +53.4k +53,420
38 Financial Advisors, LLC 19.21% of their portfolio ANDOVER, MA 1,084,2671.1m $80.6m $80.6m 19.21% Added +8.5k +8,480
39 JOHNSON INVESTMENT COUNSEL INC 1.00% of their portfolio Cincinnati, OH 1,079,3501.1m $80.2m $80.2m 1.00% Reduced -2.4k -2,382
40 Houlihan Financial Resource Group, Ltd. 2.37% of their portfolio ASHBURN, VA 1,040,9571.0m $76.1m $76.1m 2.37% Added +998.9k +998,894
41 WADE G W & INC 2.79% of their portfolio Wellesley, MA 1,034,6171.0m $76.9m $76.9m 2.79% Reduced -63.2k -63,201
42 J.P. Morgan Private Wealth Advisors LLC 0.37% of their portfolio SAN FRANCISCO, CA 952,571952.6k $70.8m $70.8m 0.37% Reduced -102.0k -102,010
43 AE Wealth Management LLC 0.42% of their portfolio TOPEKA, KS 938,216938.2k $69.7m $69.7m 0.42% Added +207.1k +207,147
44 Symmetry Partners, LLC 3.60% of their portfolio GLASTONBURY, CT 913,371913.4k $67.9m $67.9m 3.60% Reduced -13.1k -13,070
45 PFS INVESTMENTS INC. 1.08% of their portfolio DULUTH, GA 887,948887.9k $66.0m $66.0m 1.08% Added +176.5k +176,479
46 Cetera Investment Advisers 0.53% of their portfolio SCHAUMBURG, IL 855,330855.3k $63.6m $63.6m 0.53% Added +24.7k +24,700
47 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 792,239792.2k $58.9m $58.9m 0.01% Added +72.2k +72,244
48 Advocacy Wealth Management, LLC 6.49% of their portfolio ATLANTA, GA 764,606764.6k $56.8m $56.8m 6.49% Added +28.5k +28,477
49 AJ WEALTH STRATEGIES, LLC 2.69% of their portfolio NEW YORK, NY 750,182750.2k $55.8m $55.8m 2.69% Reduced -278.1k -278,060
50 Allianz Asset Management GmbH 0.11% of their portfolio MUNICH, 2M 749,500749.5k $55.7m $55.7m 0.11% Reduced -237.1k -237,140
51 OneDigital Investment Advisors LLC 1.18% of their portfolio OVERLAND PARK, KS 716,858716.9k $53.3m $53.3m 1.18% Added +72.1k +72,140
52 Steward Partners Investment Advisory, LLC 0.77% of their portfolio STAMFORD, CT 687,413687.4k $51.1m $51.1m 0.77% Reduced -14.4k -14,389
53 Private Advisor Group, LLC 0.44% of their portfolio MORRISTOWN, NJ 686,032686.0k $51.0m $51.0m 0.44% Reduced -43.3k -43,272
54 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 663,739663.7k $49.3m $49.3m 0.07% Reduced -14.7k -14,711
55 BlueCrest Capital Management Ltd 6.30% of their portfolio ST HELIER, Y9 648,845648.8k $48.2m $48.2m 6.30% Added +572.3k +572,314
56 Legacy Financial Advisors, Inc. 8.69% of their portfolio COVINGTON, KY 625,930625.9k $46.5m $46.5m 8.69% Reduced -7.7k -7,670
57 NewEdge Advisors, LLC 0.50% of their portfolio NEW ORLEANS, LA 594,680594.7k $44.2m $44.2m 0.50% Added +86.3k +86,337
58 Cetera Advisor Networks LLC 0.30% of their portfolio EL SEGUNDO, CA 581,594581.6k $43.2m $43.2m 0.30% Added +9.3k +9,307
59 TRUIST FINANCIAL CORP 0.07% of their portfolio CHARLOTTE, NC 550,900550.9k $40.9m $40.9m 0.07% Added +2.0k +1,988
60 Fragasso Financial Advisors Inc 4.28% of their portfolio SEWICKLEY, PA 538,569538.6k $40.0m $40.0m 4.28% Added +2.3k +2,263
61 M&T Bank Corp 0.15% of their portfolio BUFFALO, NY 526,980527.0k $39.2m $39.2m 0.15% Reduced -30.8k -30,786
62 KEYBANK NATIONAL ASSOCIATION/OH 0.17% of their portfolio BROOKLYN, OH 514,502514.5k $38.2m $38.2m 0.17% Reduced -17.9k -17,887
63 Geneos Wealth Management Inc. 1.99% of their portfolio ENGLEWOOD, CO 510,222510.2k $37.9m $37.9m 1.99% Added +11.4k +11,407
64 Halpern Financial, Inc. 12.43% of their portfolio ASHBURN, VA 488,422488.4k $36.3m $36.3m 12.43% Reduced -30.7k -30,680
65 ARS Wealth Advisors Group, LLC 5.70% of their portfolio St. Petersburg, FL 483,126483.1k $35.9m $35.9m 5.70% Reduced -15.1k -15,112
66 Russell Investments Group, Ltd. 0.07% of their portfolio Seattle, WA 464,056464.1k $34.5m $34.5m 0.07% New
67 Thrivent Financial for Lutherans 0.08% of their portfolio Minneapolis, MN 461,844461.8k $34.3m $34.3m 0.08% Added +115.6k +115,582
68 Stratos Wealth Partners, LTD. 0.78% of their portfolio BEACHWOOD, OH 460,594460.6k $34.2m $34.2m 0.78% Added +138.6k +138,607
69 Atria Wealth Solutions, Inc. 0.46% of their portfolio NEW YORK, NY 452,326452.3k $33.6m $33.6m 0.46% Added +6.0k +6,031
70 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 441,973442.0k $32.9m $32.9m 0.01% Added +1.7k +1,706
71 Klingman & Associates, LLC 2.57% of their portfolio New York, NY 428,966429.0k $31.9m $31.9m 2.57% Reduced -23.3k -23,277
72 HighTower Advisors, LLC 0.06% of their portfolio CHICAGO, IL 428,631428.6k $31.8m $31.8m 0.06% Added +22.2k +22,202
73 GLENMEDE TRUST CO NA 0.17% of their portfolio PHILADELPHIA, PA 408,514408.5k $29.7m $29.7m 0.17% Unchanged
74 WEALTHSOURCE PARTNERS, LLC 1.98% of their portfolio SAN LUIS OBISPO, CA 404,470404.5k $30.1m $30.1m 1.98% Added +2.3k +2,266
75 Cassia Capital Partners, LLC 23.06% of their portfolio WINSTON SALEM, NC 393,462393.5k $29.2m $29.2m 23.06% Added +2.8k +2,849
76 DAIDO LIFE INSURANCE CO 3.20% of their portfolio TOKYO, M0 389,365389.4k $28.9m $28.9m 3.20% Reduced -124.0k -124,047
77 Sovereign Investment Advisors, LLC 10.80% of their portfolio PHOENIX, AZ 384,457384.5k $28.6m $28.6m 10.80% Added +1.3k +1,274
78 Leelyn Smith, LLC 6.76% of their portfolio GENEVA, IL 376,750376.8k $28.0m $28.0m 6.76% Added +3.9k +3,939
79 Foundations Investment Advisors, LLC 0.89% of their portfolio PHOENIX, AZ 361,646361.6k $26.9m $26.9m 0.89% Added +55.8k +55,787
80 SageView Advisory Group, LLC 1.45% of their portfolio Newport Beach, CA 349,329349.3k $26.0m $26.0m 1.45% Reduced -71.4k -71,390
81 Equitable Holdings, Inc. 0.37% of their portfolio NEW YORK, NY 346,793346.8k $25.8m $25.8m 0.37% Added +16.3k +16,255
82 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 345,982346.0k $25.7m $25.7m 0.03% Added +304.8k +304,761
83 NOTTINGHAM ADVISORS, INC. 3.36% of their portfolio AMHERST, NY 344,306344.3k $25.6m $25.6m 3.36% Reduced -1.0k -1,005
84 High Probability Advisors, LLC 5.48% of their portfolio Pittsford, NY 343,776343.8k $25.6m $25.6m 5.48% Added +24.9k +24,911
85 Beacon Pointe Advisors, LLC 0.42% of their portfolio NEWPORT BEACH, CA 343,608343.6k $25.5m $25.5m 0.42% Reduced -43.4k -43,445
86 AVANTAX ADVISORY SERVICES, INC. 0.29% of their portfolio DALLAS, TX 339,849339.8k $25.3m $25.3m 0.29% Reduced -2.3k -2,342
87 JB Capital LLC 2.10% of their portfolio WETHERSFIELD, CT 335,036335.0k $24.9m $24.9m 2.10% Added +17.4k +17,375
88 Apella Capital, LLC 1.76% of their portfolio WEST HARTFORD, CT 333,278333.3k $24.8m $24.8m 1.76% First filing
89 MAI Capital Management 0.36% of their portfolio INDEPENDENCE, OH 329,633329.6k $24.5m $24.5m 0.36% Added +1.3k +1,261
90 Insight Wealth Strategies, LLC 4.69% of their portfolio SAN RAMON, CA 329,604329.6k $24.5m $24.5m 4.69% Reduced -3.6k -3,643
91 Wealth Advisors of Iowa, LLC 17.55% of their portfolio WEST DES MOINES, IA 326,529326.5k $24.3m $24.3m 17.55% Reduced -66.1k -66,109
92 Rakuten Investment Management, Inc. 0.26% of their portfolio TOKYO, M0 325,303325.3k $23.9m $23.9m 0.26% Reduced -18.9k -18,900
93 CX Institutional 1.21% of their portfolio AUBURN, IN 313,788313.8k $23.3m $23.3m 1.21% Reduced -17.3k -17,307
94 Ascent Group, LLC 2.56% of their portfolio VIRGINIA BEACH, VA 310,787310.8k $23.2m $23.2m 2.56% Added +234.9k +234,918
95 GDS Wealth Management 3.72% of their portfolio FLOWER MOUND, TX 308,733308.7k $22.9m $22.9m 3.72% Added +14.9k +14,909
96 CHOREO, LLC 0.78% of their portfolio ROCKFORD, IL 306,992307.0k $22.8m $22.8m 0.78% Added +13.5k +13,513
97 Rehmann Capital Advisory Group 2.02% of their portfolio LANSING, MI 303,867303.9k $22.6m $22.6m 2.02% Reduced -4.5k -4,532
98 TELEMUS CAPITAL, LLC 1.91% of their portfolio Southfield, MI 303,618303.6k $22.6m $22.6m 1.91% Added +11.1k +11,068
99 CITIZENS FINANCIAL GROUP INC/RI 0.82% of their portfolio PROVIDENCE, RI 303,486303.5k $22.6m $22.6m 0.82% Reduced -1.9k -1,945
100 Stokes Family Office, LLC 2.58% of their portfolio NEW ORLEANS, LA 300,792300.8k $22.4m $22.4m 2.58% Added +2.6k +2,592