Vault-13

ISHARES TR USMV

MSCI USA MIN VOL · ETP · CUSIP 46429B697

1,152 institutional holders -2 vs Q2 2023
304,744,197304.7m shares reported held*
$22.1bnreported value*
67 new 304 added 590 reduced 70 sold out net bought ≈ $585.9m (+8.3m 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 ($40.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $72.36. Options: 4 managers hold calls ($1.5m notional), 2 hold puts ($767.2k).

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,066Q4 22: 1,158Q1 23: 1,132Q2 23: 1,154Q3 23: 1,1521,152Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 20221,066
Q4 20221,158
Q1 20231,132
Q2 20231,154
Q3 20231,152

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 23Q3 23: 371 bought or addedQ3 23: 660 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022482510
Q1 2023510526
Q2 2023501548
Q3 2023371660

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ4 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 0.40Q3 23 calls: $1.5mQ3 23 puts: $767.2kQ3 23P/C 0.52
Numbers
QuarterCallsPutsP/C
Q4 2022$2.3m$3.4m1.49
Q1 2023$2.5m$50.9k0.02
Q2 2023$1.6m$616.9k0.40
Q3 2023$1.5m$767.2k0.52

Biggest buyers

FMR LLC Added +9,059,409+9.1m
Millburn Ridgefield LLC /DE/ New +3,582,132+3.6m
Catalyst Capital Advisors LLC New +3,582,132+3.6m
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +2,193,948+2.2m
OSAIC HOLDINGS, INC. Added +2,023,343+2.0m
PNC Financial Services Group, Inc. Added +1,867,739+1.9m
Clark Capital Management Group, Inc. Added +1,006,723+1.0m
MERCER GLOBAL ADVISORS INC /ADV Added +1,000,764+1.0m
Bank of New York Mellon Corp Added +951,050+951.0k
Cerity Partners LLC Added +470,329+470.3k

Biggest sellers

ENVESTNET ASSET MANAGEMENT INC Reduced -4,461,395-4.5m
MORGAN STANLEY Reduced -2,013,679-2.0m
FIRST CITIZENS BANK & TRUST CO Reduced -1,539,032-1.5m
BANK OF AMERICA CORP /DE/ Reduced -1,228,836-1.2m
Houlihan Financial Resource Group, Ltd. Reduced -999,290-999.3k
CWM, LLC Reduced -667,824-667.8k
BlueCrest Capital Management Ltd Sold out -648,845-648.8k
CAPSTONE INVESTMENT ADVISORS, LLC Reduced -633,971-634.0k
BlackRock Inc. Reduced -608,469-608.5k
Alaska Permanent Fund Corp Reduced -591,555-591.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.1m14.9k shares
CITADEL ADVISORS LLC Added $304.0k4.2k shares
Private Advisor Group, LLC New $80.3k111.0k shares
Cutler Group LLC / CA New $1.0k3.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $738.3k10.2k shares
CITADEL ADVISORS LLC Reduced $29.0k400 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, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.36% of their portfolio CHARLOTTE, NC 39,953,76440.0m $2.9bn $2.9bn 0.36% Reduced -1.2m -1,228,836
2 FMR LLC 0.17% of their portfolio BOSTON, MA 26,644,00226.6m $1.9bn $1.9bn 0.17% Added +9.1m +9,059,409
3 ENVESTNET ASSET MANAGEMENT INC 0.75% of their portfolio Berwyn, PA 22,733,46022.7m $1.6bn $1.6bn 0.75% Reduced -4.5m -4,461,395
4 RAYMOND JAMES & ASSOCIATES 0.97% of their portfolio ST PETERSBURG, FL 15,958,79416.0m $1.2bn $1.2bn 0.97% Added +48.4k +48,389
5 MORGAN STANLEY 0.11% of their portfolio NEW YORK, NY 14,883,34314.9m $1.1bn $1.1bn 0.11% Reduced -2.0m -2,013,679
6 BlackRock Inc. 0.02% of their portfolio New York, NY 9,559,6689.6m $691.9m $691.9m 0.02% Reduced -608.5k -608,469
7 LPL Financial LLC 0.38% of their portfolio FORT MILL, SC 7,584,8407.6m $549.0m $549.0m 0.38% Reduced -557.9k -557,935
8 MERCER GLOBAL ADVISORS INC /ADV 1.97% of their portfolio DENVER, CO 7,172,4297.2m $519.1m $519.1m 1.97% Added +1.0m +1,000,764
9 CAPTRUST FINANCIAL ADVISORS 1.50% of their portfolio RALEIGH, NC 5,421,0655.4m $392.4m $392.4m 1.50% Added +64.9k +64,876
10 PNC Financial Services Group, Inc. 0.33% of their portfolio Pittsburgh, PA 5,301,0315.3m $383.7m $383.7m 0.33% Added +1.9m +1,867,739
11 OSAIC HOLDINGS, INC. 0.55% of their portfolio SCOTTSDALE, AZ 5,166,5535.2m $374.1m $374.1m 0.55% Added +2.0m +2,023,343
12 Raymond James Financial Services Advisors, Inc. 0.63% of their portfolio ST. PETERSBURG, FL 4,802,2864.8m $347.6m $347.6m 0.63% Added +127.0k +126,963
13 WELLS FARGO & COMPANY/MN 0.10% of their portfolio SAN FRANCISCO, CA 4,483,2394.5m $324.5m $324.5m 0.10% Reduced -147.9k -147,863
14 AMERIPRISE FINANCIAL INC 0.10% of their portfolio MINNEAPOLIS, MN 4,313,5754.3m $312.3m $312.3m 0.10% Reduced -567.9k -567,889
15 UBS Group AG 0.14% of their portfolio ZURICH, V8 4,297,7364.3m $311.1m $311.1m 0.14% Reduced -171.6k -171,627
16 Alaska Permanent Fund Corp 5.63% of their portfolio JUNEAU, AK 4,130,3494.1m $299.0m $299.0m 5.63% Reduced -591.6k -591,555
17 Millburn Ridgefield LLC /DE/ 8.41% of their portfolio New York, NY 3,582,1323.6m $259.3m $259.3m 8.41% New
18 Catalyst Capital Advisors LLC 7.25% of their portfolio San Juan, PR 3,582,1323.6m $259.3m $259.3m 7.25% New
19 Envestnet Portfolio Solutions, Inc. 1.17% of their portfolio BERWYN, PA 3,412,0323.4m $247.0m $247.0m 1.17% First filing
20 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.29% of their portfolio MILWAUKEE, WI 3,064,9763.1m $221.8m $221.8m 0.29% Added +188.9k +188,910
21 CWM, LLC 1.32% of their portfolio OMAHA, NE 2,964,9653.0m $214.6m $214.6m 1.32% Reduced -667.8k -667,824
22 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 2,913,0662.9m $210.9m $210.9m 0.02% Reduced -248.9k -248,874
23 SEI INVESTMENTS CO 0.37% of their portfolio OAKS, PA 2,852,8652.9m $206.5m $206.5m 0.37% Reduced -5.3k -5,275
24 COMMONWEALTH EQUITY SERVICES, LLC 0.42% of their portfolio WALTHAM, MA 2,781,5522.8m $201.3m $201.3m 0.42% Reduced -264.8k -264,805
25 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.58% of their portfolio PLYMOUTH, MN 2,455,6502.5m $177.7m $177.7m 0.58% Added +2.2m +2,193,948
26 ROYAL BANK OF CANADA 0.05% of their portfolio TORONTO, A6 2,160,4682.2m $156.4m $156.4m 0.05% Added +169.4k +169,443
27 Cerity Partners LLC 0.71% of their portfolio NEW YORK, NY 2,019,7752.0m $146.2m $146.2m 0.71% Added +470.3k +470,329
28 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 1,743,2891.7m $126.2m $126.2m 0.03% Added +951.0k +951,050
29 FIRST CITIZENS BANK & TRUST CO 2.39% of their portfolio RALEIGH, NC 1,694,1941.7m $122.6m $122.6m 2.39% Reduced -1.5m -1,539,032
30 ASSETMARK, INC 0.48% of their portfolio CONCORD, CA 1,656,1201.7m $119.9m $119.9m 0.48% Added +29.7k +29,722
31 US BANCORP \DE\ 0.19% of their portfolio MINNEAPOLIS, MN 1,577,1551.6m $114.2m $114.2m 0.19% Reduced -27.6k -27,598
32 Horizon Investments, LLC 3.39% of their portfolio Charlotte, NC 1,539,9521.5m $111.5m $111.5m 3.39% Added +21.3k +21,327
33 Cambridge Investment Research Advisors, Inc. 0.51% of their portfolio FAIRFIELD, IA 1,501,8311.5m $108.7m $108.7m 0.51% Reduced -53.4k -53,441
34 MML INVESTORS SERVICES, LLC 0.59% of their portfolio SPRINGFIELD, MA 1,479,1691.5m $107.1m $107.1m 0.59% Reduced -112.0k -111,972
35 Mariner, LLC 0.27% of their portfolio Overland Park, KS 1,396,8661.4m $101.1m $101.1m 0.27% Reduced -57.8k -57,811
36 SECURIAN ASSET MANAGEMENT, INC 2.93% of their portfolio ST PAUL, MN 1,356,4121.4m $98.2m $98.2m 2.93% Reduced -8.0k -8,000
37 Brookstone Capital Management 1.95% of their portfolio WHEATON, IL 1,229,5441.2m $88.9m $88.9m 1.95% Reduced -218.2k -218,240
38 Cetera Advisors LLC 1.33% of their portfolio DENVER, CO 1,174,1171.2m $85.0m $85.0m 1.33% Reduced -38.9k -38,915
39 AE Wealth Management LLC 0.50% of their portfolio TOPEKA, KS 1,150,9921.2m $83.3m $83.3m 0.50% Added +212.8k +212,776
40 Janney Montgomery Scott LLC 0.31% of their portfolio PHILADELPHIA, PA 1,141,4741.1m $82.6m $82.6m 0.31% Reduced -176.5k -176,472
41 Clark Capital Management Group, Inc. 0.82% of their portfolio PHILADELPHIA, PA 1,135,4641.1m $82.2m $82.2m 0.82% Added +1.0m +1,006,723
42 Financial Advisors, LLC 19.43% of their portfolio ANDOVER, MA 1,084,3101.1m $78.5m $78.5m 19.43% Added +43 +43
43 PARK AVENUE SECURITIES LLC 1.21% of their portfolio NEW YORK, NY 1,077,3191.1m $78.0m $78.0m 1.21% Reduced -238.9k -238,921
44 JOHNSON INVESTMENT COUNSEL INC 1.00% of their portfolio Cincinnati, OH 1,072,2601.1m $77.6m $77.6m 1.00% Reduced -7.1k -7,090
45 Integrated Wealth Concepts LLC 1.30% of their portfolio WALTHAM, MA 1,016,4961.0m $73.6m $73.6m 1.30% Reduced -76.2k -76,216
46 WADE G W & INC 2.64% of their portfolio Wellesley, MA 980,693980.7k $71.0m $71.0m 2.64% Reduced -53.9k -53,924
47 Allianz Asset Management GmbH 0.14% of their portfolio MUNICH, 2M 934,500934.5k $67.6m $67.6m 0.14% Added +185.0k +185,000
48 J.P. Morgan Private Wealth Advisors LLC 0.19% of their portfolio SAN FRANCISCO, CA 896,171896.2k $64.9m $64.9m 0.19% Reduced -56.4k -56,400
49 HighTower Advisors, LLC 0.11% of their portfolio CHICAGO, IL 819,123819.1k $59.3m $59.3m 0.11% Added +390.5k +390,492
50 Symmetry Partners, LLC 3.15% of their portfolio GLASTONBURY, CT 803,200803.2k $58.1m $58.1m 3.15% Reduced -110.2k -110,171
51 Advocacy Wealth Management, LLC 6.38% of their portfolio ATLANTA, GA 792,617792.6k $57.4m $57.4m 6.38% Added +28.0k +28,011
52 Cetera Investment Advisers 0.49% of their portfolio SCHAUMBURG, IL 786,605786.6k $56.9m $56.9m 0.49% Reduced -68.7k -68,725
53 Steward Partners Investment Advisory, LLC 0.77% of their portfolio STAMFORD, CT 690,809690.8k $50.0m $50.0m 0.77% Added +3.4k +3,396
54 Private Advisor Group, LLC 0.44% of their portfolio MORRISTOWN, NJ 674,417674.4k $48.8m $48.8m 0.44% Reduced -11.6k -11,615
55 CAPSTONE INVESTMENT ADVISORS, LLC 1.19% of their portfolio NEW YORK, NY 622,029622.0k $45.0m $45.0m 1.19% Reduced -634.0k -633,971
56 Legacy Financial Advisors, Inc. 8.85% of their portfolio COVINGTON, KY 611,205611.2k $44.2m $44.2m 8.85% Reduced -14.7k -14,725
57 Cetera Advisor Networks LLC 0.27% of their portfolio EL SEGUNDO, CA 592,519592.5k $42.9m $42.9m 0.27% Added +10.9k +10,925
58 NewEdge Advisors, LLC 0.46% of their portfolio NEW ORLEANS, LA 581,258581.3k $42.1m $42.1m 0.46% Reduced -13.4k -13,422
59 Fragasso Financial Advisors Inc 4.11% of their portfolio SEWICKLEY, PA 540,043540.0k $39.1m $39.1m 4.11% Added +1.5k +1,474
60 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 536,749536.7k $38.9m $38.9m 0.05% Reduced -127.0k -126,990
61 Thrivent Financial for Lutherans 0.09% of their portfolio Minneapolis, MN 535,355535.4k $38.8m $38.8m 0.09% Added +73.5k +73,511
62 Geneos Wealth Management Inc. 1.96% of their portfolio ENGLEWOOD, CO 526,208526.2k $38.1m $38.1m 1.96% Added +16.0k +15,986
63 OneDigital Investment Advisors LLC 0.82% of their portfolio OVERLAND PARK, KS 521,548521.5k $37.7m $37.7m 0.82% Reduced -195.3k -195,310
64 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 516,716516.7k $37.4m $37.4m 0.06% Reduced -34.2k -34,184
65 Orion Porfolio Solutions, LLC 0.45% of their portfolio OMAHA, NE 510,440510.4k $36.9m $36.9m 0.45% Added +278.0k +278,011
66 Orion Portfolio Solutions, LLC 0.45% of their portfolio Omaha, NE 510,440510.4k $36.9m $36.9m 0.45% Added +278.0k +278,011
67 M&T Bank Corp 0.15% of their portfolio BUFFALO, NY 507,108507.1k $36.7m $36.7m 0.15% Reduced -19.9k -19,872
68 ARS Wealth Advisors Group, LLC 5.81% of their portfolio St. Petersburg, FL 489,879489.9k $35.5m $35.5m 5.81% Added +6.8k +6,753
69 Atria Wealth Solutions, Inc. 0.48% of their portfolio NEW YORK, NY 470,205470.2k $34.1m $34.1m 0.48% Added +17.9k +17,879
70 KEYBANK NATIONAL ASSOCIATION/OH 0.16% of their portfolio BROOKLYN, OH 467,720467.7k $33.9m $33.9m 0.16% Reduced -46.8k -46,782
71 Granite Bay Wealth Management, LLC 0.33% of their portfolio PORTSMOUTH, NH 448,153448.2k $33.4m $33.4m 0.33% Added +440.4k +440,423
72 Executive Wealth Management, LLC 3.28% of their portfolio BRIGHTON, MI 438,236438.2k $31.7m $31.7m 3.28% Added +190.4k +190,396
73 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 435,053435.1k $31.5m $31.5m 0.01% Reduced -6.9k -6,920
74 WEALTHSOURCE PARTNERS, LLC 2.14% of their portfolio SAN LUIS OBISPO, CA 432,438432.4k $31.3m $31.3m 2.14% Added +28.0k +27,968
75 Halpern Financial, Inc. 10.52% of their portfolio ASHBURN, VA 420,898420.9k $30.5m $30.5m 10.52% Reduced -67.5k -67,524
76 Klingman & Associates, LLC 2.46% of their portfolio New York, NY 419,623419.6k $30.4m $30.4m 2.46% Reduced -9.3k -9,343
77 GLENMEDE TRUST CO NA 0.17% of their portfolio PHILADELPHIA, PA 416,140416.1k $30.1m $30.1m 0.17% Added +7.6k +7,626
78 GDS Wealth Management 4.48% of their portfolio FLOWER MOUND, TX 393,775393.8k $28.5m $28.5m 4.48% Added +85.0k +85,042
79 Sovereign Investment Advisors, LLC 10.91% of their portfolio PHOENIX, AZ 384,417384.4k $27.8m $27.8m 10.91% Reduced -40 -40
80 Stratos Wealth Partners, LTD. 0.60% of their portfolio BEACHWOOD, OH 383,654383.7k $27.8m $27.8m 0.60% Reduced -76.9k -76,940
81 Cassia Capital Partners, LLC 22.63% of their portfolio WINSTON SALEM, NC 382,000382.0k $27.6m $27.6m 22.63% Reduced -11.5k -11,462
82 FIL Ltd 0.03% of their portfolio HAMILTON, D0 373,292373.3k $27.0m $27.0m 0.03% Added +221.9k +221,920
83 Leelyn Smith, LLC 6.59% of their portfolio GENEVA, IL 372,861372.9k $27.0m $27.0m 6.59% Reduced -3.9k -3,889
84 Equitable Holdings, Inc. 0.38% of their portfolio NEW YORK, NY 369,925369.9k $26.8m $26.8m 0.38% Added +23.1k +23,132
85 High Probability Advisors, LLC 5.49% of their portfolio Pittsford, NY 351,957352.0k $25.5m $25.5m 5.49% Added +8.2k +8,181
86 COMERICA BANK 0.13% of their portfolio DALLAS, TX 350,904350.9k $25.4m $25.4m 0.13% New
87 MA Private Wealth 5.85% of their portfolio SAN CARLOS, CA 342,269342.3k $24.8m $24.8m 5.85% Added +188.5k +188,471
88 Beacon Pointe Advisors, LLC 0.31% of their portfolio NEWPORT BEACH, CA 340,122340.1k $24.6m $24.6m 0.31% Reduced -3.5k -3,486
89 NOTTINGHAM ADVISORS, INC. 3.39% of their portfolio AMHERST, NY 338,403338.4k $22.0m $22.0m 3.39% Reduced -5.9k -5,903
90 Apella Capital, LLC 1.72% of their portfolio WEST HARTFORD, CT 335,274335.3k $24.3m $24.3m 1.72% Added +2.0k +1,996
91 Kestra Advisory Services, LLC 0.23% of their portfolio AUSTIN, TX 328,092328.1k $23.7m $23.7m 0.23% Added +30.6k +30,629
92 Wealth Advisors of Iowa, LLC 16.68% of their portfolio WEST DES MOINES, IA 327,608327.6k $23.7m $23.7m 16.68% Added +1.1k +1,079
93 MAI Capital Management 0.35% of their portfolio INDEPENDENCE, OH 326,605326.6k $23.6m $23.6m 0.35% Reduced -3.0k -3,028
94 Financial Gravity Asset Management, Inc. 0.01% of their portfolio Lakeway, TX 325,585325.6k $1.3m $1.3m 0.01% Added +295.1k +295,140
95 TELEMUS CAPITAL, LLC 2.18% of their portfolio Southfield, MI 324,852324.9k $23.5m $23.5m 2.18% Added +21.2k +21,234
96 Rakuten Investment Management, Inc. 0.24% of their portfolio TOKYO, M0 323,703323.7k $23.6m $23.6m 0.24% Reduced -1.6k -1,600
97 AVANTAX ADVISORY SERVICES, INC. 0.26% of their portfolio DALLAS, TX 320,255320.3k $23.2m $23.2m 0.26% Reduced -19.6k -19,594
98 Insight Wealth Strategies, LLC 4.46% of their portfolio SAN RAMON, CA 319,022319.0k $23.1m $23.1m 4.46% Reduced -10.6k -10,582
99 CHOREO, LLC 0.81% of their portfolio ROCKFORD, IL 313,735313.7k $22.8m $22.8m 0.81% Added +6.7k +6,743
100 Foundations Investment Advisors, LLC 0.70% of their portfolio PHOENIX, AZ 312,323312.3k $22.6m $22.6m 0.70% Reduced -49.3k -49,323