Vault-13

ISHARES TR USMV

MSCI USA MIN VOL · ETP · CUSIP 46429B697

1,173 institutional holders -57 vs Q4 2023
271,170,595271.2m shares reported held*
$22.7bnreported value*
60 new 265 added 661 reduced 110 sold out net sold ≈ $1.5bn (-18.4m 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 ($38.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $83.59. Options: 3 managers hold calls ($1.9m notional), 3 hold puts ($40.0m).

Trends to Q1 2024

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,066Q4 22: 1,158Q1 23: 1,132Q2 23: 1,154Q3 23: 1,152Q4 23: 1,230Q1 24: 1,1731,173Q3 22Q1 23Q3 23Q1 24
Numbers
QuarterHolders
Q3 20221,066
Q4 20221,158
Q1 20231,132
Q2 20231,154
Q3 20231,152
Q4 20231,230
Q1 20241,173

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 23Q4 23: 345 bought or addedQ4 23: 720 cut or sold outQ4 23Q1 24: 325 bought or addedQ1 24: 771 cut or sold outQ1 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022482510
Q1 2023510526
Q2 2023501548
Q3 2023371660
Q4 2023345720
Q1 2024325771

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ2 23 calls: $1.6mQ2 23 puts: $616.9kQ2 23P/C 0.40Q3 23 calls: $1.5mQ3 23 puts: $767.2kQ3 23P/C 0.52Q4 23 calls: $1.0mQ4 23 puts: $398.0kQ4 23P/C 0.40Q1 24 calls: $1.9mQ1 24 puts: $40.0mQ1 24P/C 21.30
Numbers
QuarterCallsPutsP/C
Q2 2023$1.6m$616.9k0.40
Q3 2023$1.5m$767.2k0.52
Q4 2023$1.0m$398.0k0.40
Q1 2024$1.9m$40.0m21.30

Biggest buyers

MORGAN STANLEY Added +31,996,702+32.0m
Cetera Investment Advisers Added +1,384,833+1.4m
Focus Partners Wealth Added +777,766+777.8k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +755,493+755.5k
HSBC HOLDINGS PLC New +500,000+500.0k
Qube Research & Technologies Ltd Added +464,296+464.3k
Teilinger Capital Ltd. Added +448,000+448.0k
PNC Financial Services Group, Inc. Added +409,462+409.5k
NorthCoast Asset Management LLC New +336,625+336.6k
BARCLAYS PLC Added +335,235+335.2k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -17,006,068-17.0m
ENVESTNET ASSET MANAGEMENT INC Reduced -9,097,065-9.1m
MERCER GLOBAL ADVISORS INC /ADV Reduced -5,164,413-5.2m
FMR LLC Reduced -3,423,674-3.4m
BlackRock Inc. Reduced -2,254,636-2.3m
AMERIPRISE FINANCIAL INC Reduced -1,616,641-1.6m
SEI INVESTMENTS CO Reduced -1,493,795-1.5m
JPMORGAN CHASE & CO Reduced -1,290,042-1.3m
Cetera Advisors LLC Sold out -1,156,060-1.2m
OSAIC HOLDINGS, INC. Reduced -778,837-778.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.7m20.8k shares
CITADEL ADVISORS LLC Reduced $133.7k1.6k shares
Cutler Group LLC / CA Reduced $5.0k1.5k shares

Biggest puts

Teilinger Capital Ltd. New $39.7m475.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $267.5k3.2k shares
CITADEL ADVISORS LLC Reduced $8.4k100 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 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.15% of their portfolio NEW YORK, NY 67,562,31067.6m $5.6bn $5.6bn 0.15% Added +32.0m +31,996,702
2 BANK OF AMERICA CORP /DE/ 0.14% of their portfolio CHARLOTTE, NC 17,297,32117.3m $1.4bn $1.4bn 0.14% Reduced -17.0m -17,006,068
3 FMR LLC 0.10% of their portfolio BOSTON, MA 17,198,33817.2m $1.4bn $1.4bn 0.10% Reduced -3.4m -3,423,674
4 RAYMOND JAMES & ASSOCIATES 0.90% of their portfolio ST PETERSBURG, FL 15,949,10315.9m $1.3bn $1.3bn 0.90% Reduced -131.7k -131,696
5 PNC Financial Services Group, Inc. 0.55% of their portfolio Pittsburgh, PA 9,508,3769.5m $794.7m $794.7m 0.55% Added +409.5k +409,462
6 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 8,152,7228.2m $681.4m $681.4m 0.03% Reduced -1.3m -1,290,042
7 ENVESTNET ASSET MANAGEMENT INC 0.20% of their portfolio Berwyn, PA 6,388,5666.4m $534.0m $534.0m 0.20% Reduced -9.1m -9,097,065
8 BlackRock Inc. 0.01% of their portfolio New York, NY 5,523,7445.5m $461.7m $461.7m 0.01% Reduced -2.3m -2,254,636
9 LPL Financial LLC 0.24% of their portfolio FORT MILL, SC 5,410,1585.4m $452.2m $452.2m 0.24% Reduced -616.1k -616,146
10 Raymond James Financial Services Advisors, Inc. 0.55% of their portfolio ST. PETERSBURG, FL 4,435,2204.4m $370.7m $370.7m 0.55% Reduced -223.0k -222,986
11 UBS Group AG 0.11% of their portfolio ZURICH, V8 4,064,9724.1m $339.8m $339.8m 0.11% Reduced -117.8k -117,805
12 WELLS FARGO & COMPANY/MN 0.09% of their portfolio SAN FRANCISCO, CA 4,031,1904.0m $336.9m $336.9m 0.09% Reduced -267.6k -267,604
13 Alaska Permanent Fund Corp 4.86% of their portfolio JUNEAU, AK 3,947,8203.9m $330.0m $330.0m 4.86% Added +167.5k +167,538
14 Millburn Ridgefield LLC /DE/ 8.05% of their portfolio New York, NY 3,476,6573.5m $290.6m $290.6m 8.05% Reduced -100.5k -100,476
15 Catalyst Capital Advisors LLC 7.00% of their portfolio San Juan, PR 3,476,6573.5m $290.6m $290.6m 7.00% Reduced -100.5k -100,476
16 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.69% of their portfolio PLYMOUTH, MN 3,170,4183.2m $265.0m $265.0m 0.69% Added +755.5k +755,493
17 MERCER GLOBAL ADVISORS INC /ADV 0.67% of their portfolio DENVER, CO 2,824,4812.8m $236.1m $236.1m 0.67% Reduced -5.2m -5,164,413
18 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.23% of their portfolio MILWAUKEE, WI 2,626,9612.6m $219.6m $219.6m 0.23% Reduced -93.9k -93,881
19 AMERIPRISE FINANCIAL INC 0.06% of their portfolio MINNEAPOLIS, MN 2,620,6702.6m $219.2m $219.2m 0.06% Reduced -1.6m -1,616,641
20 COMMONWEALTH EQUITY SERVICES, LLC 0.34% of their portfolio WALTHAM, MA 2,420,8062.4m $202.3m $202.3m 0.34% Reduced -181.7k -181,654
21 CAPTRUST FINANCIAL ADVISORS 0.70% of their portfolio RALEIGH, NC 2,288,8152.3m $191.3m $191.3m 0.70% Reduced -14.5k -14,514
22 Cerity Partners LLC 0.46% of their portfolio NEW YORK, NY 2,093,8712.1m $175.0m $175.0m 0.46% Reduced -38.4k -38,359
23 Cetera Investment Advisers 0.37% of their portfolio SCHAUMBURG, IL 1,895,9741.9m $158.5m $158.5m 0.37% Added +1.4m +1,384,833
24 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 1,842,1231.8m $154.0m $154.0m 0.04% Reduced -355.3k -355,302
25 ASSETMARK, INC 0.43% of their portfolio CONCORD, CA 1,571,8331.6m $131.4m $131.4m 0.43% Reduced -58.6k -58,600
26 US BANCORP \DE\ 0.16% of their portfolio MINNEAPOLIS, MN 1,369,1061.4m $114.4m $114.4m 0.16% Reduced -103.0k -102,961
27 SEI INVESTMENTS CO 0.16% of their portfolio OAKS, PA 1,306,1931.3m $109.2m $109.2m 0.16% Reduced -1.5m -1,493,795
28 Mariner, LLC 0.22% of their portfolio Overland Park, KS 1,268,0211.3m $106.0m $106.0m 0.22% Reduced -66.9k -66,871
29 Cambridge Investment Research Advisors, Inc. 0.40% of their portfolio FAIRFIELD, IA 1,240,2891.2m $103.7m $103.7m 0.40% Reduced -222.9k -222,935
30 SECURIAN ASSET MANAGEMENT, INC 3.02% of their portfolio ST PAUL, MN 1,231,7621.2m $103.0m $103.0m 3.02% Reduced -59.0k -59,000
31 OSAIC HOLDINGS, INC. 0.21% of their portfolio SCOTTSDALE, AZ 1,141,4451.1m $95.4m $95.4m 0.21% Reduced -778.8k -778,837
32 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,098,8131.1m $91.8m $91.8m 0.02% Reduced -281.6k -281,558
33 CWM, LLC 0.44% of their portfolio OMAHA, NE 1,091,3871.1m $91.2m $91.2m 0.44% Reduced -484.9k -484,935
34 Brookstone Capital Management 1.63% of their portfolio WHEATON, IL 1,089,1451.1m $91.0m $91.0m 1.63% Reduced -80.6k -80,611
35 Financial Advisors, LLC 18.80% of their portfolio ANDOVER, MA 1,086,8431.1m $90.8m $90.8m 18.80% Added +5.4k +5,353
36 JOHNSON INVESTMENT COUNSEL INC 0.95% of their portfolio Cincinnati, OH 1,051,2511.1m $87.9m $87.9m 0.95% Reduced -1.5k -1,510
37 Dynasty Wealth Management, LLC 2.65% of their portfolio ST. PETERSBURG, FL 993,616993.6k $83.0m $83.0m 2.65% First filing
38 Quotient Wealth Partners, LLC 2.80% of their portfolio DALLAS, TX 939,829939.8k $78.6m $78.6m 2.80% Added +170.6k +170,567
39 Focus Partners Wealth 0.63% of their portfolio ST LOUIS, MO 935,665935.7k $78.2m $78.2m 0.63% Added +777.8k +777,766
40 Horizon Investments, LLC 1.95% of their portfolio Charlotte, NC 887,353887.4k $74.2m $74.2m 1.95% Added +68.9k +68,865
41 Integrated Wealth Concepts LLC 1.05% of their portfolio WALTHAM, MA 868,334868.3k $72.6m $72.6m 1.05% Reduced -8.8k -8,844
42 CAPSTONE INVESTMENT ADVISORS, LLC 1.33% of their portfolio NEW YORK, NY 860,729860.7k $71.9m $71.9m 1.33% Added +238.7k +238,700
43 MML INVESTORS SERVICES, LLC 0.26% of their portfolio SPRINGFIELD, MA 753,490753.5k $63.0m $63.0m 0.26% Reduced -315.3k -315,316
44 HighTower Advisors, LLC 0.10% of their portfolio CHICAGO, IL 750,427750.4k $62.8m $62.8m 0.10% Reduced -26.3k -26,269
45 BARCLAYS PLC 0.02% of their portfolio LONDON, X0 638,466638.5k $53.4m $53.4m 0.02% Added +335.2k +335,235
46 Private Advisor Group, LLC 0.37% of their portfolio MORRISTOWN, NJ 620,740620.7k $51.9m $51.9m 0.37% Reduced -34.3k -34,295
47 Janney Montgomery Scott LLC 0.15% of their portfolio PHILADELPHIA, PA 614,650614.6k $51.4m $51.4m 0.15% Reduced -207.1k -207,104
48 Fragasso Financial Advisors Inc 3.88% of their portfolio SEWICKLEY, PA 548,948548.9k $45.9m $45.9m 3.88% Added +600 +600
49 Steward Partners Investment Advisory, LLC 0.50% of their portfolio STAMFORD, CT 540,721540.7k $45.2m $45.2m 0.50% Reduced -15.9k -15,896
50 Geneos Wealth Management Inc. 2.00% of their portfolio ENGLEWOOD, CO 521,610521.6k $43.6m $43.6m 2.00% Added +2.9k +2,931
51 ARS Wealth Advisors Group, LLC 5.87% of their portfolio St. Petersburg, FL 520,398520.4k $43.5m $43.5m 5.87% Added +8.5k +8,462
52 Allianz Asset Management GmbH 0.07% of their portfolio MUNICH, 2M 518,123518.1k $43.3m $43.3m 0.07% Reduced -78.6k -78,618
53 Qube Research & Technologies Ltd 0.08% of their portfolio LONDON, X0 511,085511.1k $42.7m $42.7m 0.08% Added +464.3k +464,296
54 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 500,000500.0k $41.8m $41.8m 0.03% New
55 Teilinger Capital Ltd. 17.21% of their portfolio HOUSTON, TX 480,000480.0k $40.1m $40.1m 17.21% Added +448.0k +448,000
56 FIL Ltd 0.04% of their portfolio HAMILTON, D0 463,861463.9k $38.8m $38.8m 0.04% Unchanged
57 GLENMEDE TRUST CO NA 0.19% of their portfolio PHILADELPHIA, PA 458,894458.9k $38.4m $38.4m 0.19% Reduced -2.6k -2,588
58 Symmetry Partners, LLC 2.87% of their portfolio GLASTONBURY, CT 438,136438.1k $36.6m $36.6m 2.87% Reduced -381.3k -381,342
59 Pineridge Advisors LLC 12.54% of their portfolio ST. CHARLES, MO 426,539426.5k $35.7m $35.7m 12.54% Reduced -20.0k -19,987
60 KEYBANK NATIONAL ASSOCIATION/OH 0.15% of their portfolio BROOKLYN, OH 424,523424.5k $35.5m $35.5m 0.15% Reduced -23.8k -23,838
61 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 420,082420.1k $35.1m $35.1m 0.04% Reduced -68.1k -68,061
62 NewEdge Advisors, LLC 0.30% of their portfolio NEW ORLEANS, LA 411,961412.0k $34.4m $34.4m 0.30% Reduced -72.1k -72,070
63 Klingman & Associates, LLC 2.29% of their portfolio New York, NY 393,734393.7k $32.9m $32.9m 2.29% Reduced -17.2k -17,206
64 TRUIST FINANCIAL CORP 0.05% of their portfolio CHARLOTTE, NC 379,413379.4k $31.7m $31.7m 0.05% Reduced -98.4k -98,375
65 Halpern Financial, Inc. 9.10% of their portfolio ASHBURN, VA 379,088379.1k $31.3m $31.3m 9.10% Reduced -15.5k -15,502
66 Equitable Holdings, Inc. 0.35% of their portfolio NEW YORK, NY 371,750371.8k $31.1m $31.1m 0.35% Reduced -7.7k -7,735
67 Squarepoint Ops LLC 0.12% of their portfolio NEW YORK, NY 358,885358.9k $30.0m $30.0m 0.12% Reduced -90.4k -90,411
68 Envestnet Portfolio Solutions, Inc. 0.11% of their portfolio BERWYN, PA 355,089355.1k $29.7m $29.7m 0.11% Reduced -529.1k -529,140
69 High Probability Advisors, LLC 5.47% of their portfolio Pittsford, NY 352,813352.8k $29.5m $29.5m 5.47% Added +4.2k +4,239
70 GDS Wealth Management 3.39% of their portfolio FLOWER MOUND, TX 346,097346.1k $28.9m $28.9m 3.39% Reduced -7.7k -7,669
71 NorthCoast Asset Management LLC 0.36% of their portfolio STAMFORD, CT 336,625336.6k $28.1m $28.1m 0.36% New
72 Stratos Wealth Partners, LTD. 0.46% of their portfolio BEACHWOOD, OH 334,237334.2k $27.9m $27.9m 0.46% Reduced -27.0k -27,033
73 Rakuten Investment Management, Inc. 0.20% of their portfolio TOKYO, M0 332,703332.7k $27.8m $27.8m 0.20% Reduced -2.4k -2,400
74 Atria Wealth Solutions, Inc. 0.31% of their portfolio NEW YORK, NY 327,508327.5k $27.4m $27.4m 0.31% Reduced -35.6k -35,569
75 Kestra Advisory Services, LLC 0.18% of their portfolio AUSTIN, TX 326,659326.7k $27.3m $27.3m 0.18% Added +18.1k +18,081
76 MAI Capital Management 0.28% of their portfolio INDEPENDENCE, OH 326,465326.5k $27.3m $27.3m 0.28% Reduced -2.0k -1,993
77 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 323,051323.1k $27.0m $27.0m 0.01% Reduced -94.8k -94,791
78 Sovereign Investment Advisors, LLC 9.27% of their portfolio PHOENIX, AZ 321,472321.5k $26.9m $26.9m 9.27% Reduced -2.4k -2,365
79 CITIGROUP INC 0.03% of their portfolio NEW YORK, NY 320,840320.8k $26.8m $26.8m 0.03% Added +103.6k +103,552
80 Apella Capital, LLC 1.28% of their portfolio WEST HARTFORD, CT 309,367309.4k $25.5m $25.5m 1.28% Reduced -8.5k -8,544
81 Vestcor Inc 0.88% of their portfolio FREDERICTON, A3 307,127307.1k $25.7m $25.7m 0.88% Reduced -481.4k -481,357
82 Insight Wealth Strategies, LLC 3.63% of their portfolio SAN RAMON, CA 295,494295.5k $24.7m $24.7m 3.63% Added +1.5k +1,529
83 CHOREO, LLC 0.62% of their portfolio ROCKFORD, IL 288,587288.6k $24.1m $24.1m 0.62% Added +3.0k +2,951
84 Allianz SE 0.76% of their portfolio Munich, 2M 288,295288.3k $24.1m $24.1m 0.76% First filing
85 Facet Wealth, Inc. 0.79% of their portfolio WEST PALM BEACH, FL 286,617286.6k $23.4m $23.4m 0.79% Added +84.8k +84,781
86 CITIZENS FINANCIAL GROUP INC/RI 0.79% of their portfolio PROVIDENCE, RI 283,933283.9k $23.7m $23.7m 0.79% Reduced -8.6k -8,552
87 Rehmann Capital Advisory Group 1.73% of their portfolio LANSING, MI 278,349278.3k $23.3m $23.3m 1.73% Reduced -4.0k -4,005
88 MA Private Wealth 4.65% of their portfolio SAN CARLOS, CA 274,510274.5k $22.9m $22.9m 4.65% Added +4.4k +4,379
89 MV CAPITAL MANAGEMENT, INC. 2.61% of their portfolio BETHESDA, MD 272,582272.6k $22.8m $22.8m 2.61% Reduced -10.5k -10,520
90 Executive Wealth Management, LLC 1.99% of their portfolio BRIGHTON, MI 272,307272.3k $22.7m $22.7m 1.99% Added +14.5k +14,534
91 Clark Capital Management Group, Inc. 0.17% of their portfolio PHILADELPHIA, PA 267,218267.2k $22.3m $22.3m 0.17% Added +118.7k +118,731
92 Capital Advisors, Ltd. LLC 2.90% of their portfolio SHAKER HEIGHTS, OH 266,227266.2k $22.3m $22.3m 2.90% Reduced -5.9k -5,890
93 Cornerstone Wealth Management, LLC 1.76% of their portfolio ST. PETERS, MO 259,689259.7k $21.7m $21.7m 1.76% Added +1.8k +1,787
94 Lineweaver Wealth Advisors, LLC 5.15% of their portfolio VALLEY VIEW, OH 259,259259.3k $21.7m $21.7m 5.15% Reduced -1.6k -1,559
95 Beacon Pointe Advisors, LLC 0.24% of their portfolio NEWPORT BEACH, CA 258,142258.1k $21.6m $21.6m 0.24% Reduced -20.7k -20,691
96 Summit Wealth Partners, LLC 4.47% of their portfolio Orlando, FL 250,648250.6k $20.9m $20.9m 4.47% Reduced -10.2k -10,202
97 AVANTAX ADVISORY SERVICES, INC. 0.18% of their portfolio DALLAS, TX 246,439246.4k $20.6m $20.6m 0.18% Reduced -44.3k -44,316
98 M&T Bank Corp 0.07% of their portfolio BUFFALO, NY 244,900244.9k $20.5m $20.5m 0.07% Reduced -30.6k -30,633
99 NOTTINGHAM ADVISORS, INC. 2.50% of their portfolio AMHERST, NY 244,457244.5k $20.4m $20.4m 2.50% Reduced -91.6k -91,575
100 OneDigital Investment Advisors LLC 0.32% of their portfolio OVERLAND PARK, KS 242,224242.2k $20.2m $20.2m 0.32% Reduced -217.3k -217,279