Vault-13

ISHARES TR USMV

MSCI USA MIN VOL · ETP · CUSIP 46429B697

1,193 institutional holders +24 vs Q2 2024
206,786,818206.8m shares reported held*
$18.9bnreported value*
77 new 358 added 547 reduced 58 sold out net sold ≈ $1.4bn (-15.0m 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 ($40.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $91.28. Options: 2 managers hold calls ($830.9k notional), 2 hold puts ($2.5m).

Trends to Q3 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: 1,173Q2 24: 1,169Q3 24: 1,1931,193Q3 22Q1 23Q3 23Q1 24Q3 24
Numbers
QuarterHolders
Q3 20221,066
Q4 20221,158
Q1 20231,132
Q2 20231,154
Q3 20231,152
Q4 20231,230
Q1 20241,173
Q2 20241,169
Q3 20241,193

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 outQ1 23: 510 bought or addedQ1 23: 526 cut or sold outQ1 23Q2 23: 501 bought or addedQ2 23: 548 cut or sold outQ3 23: 371 bought or addedQ3 23: 660 cut or sold outQ3 23Q4 23: 345 bought or addedQ4 23: 720 cut or sold outQ1 24: 325 bought or addedQ1 24: 771 cut or sold outQ1 24Q2 24: 349 bought or addedQ2 24: 687 cut or sold outQ3 24: 435 bought or addedQ3 24: 605 cut or sold outQ3 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022482510
Q1 2023510526
Q2 2023501548
Q3 2023371660
Q4 2023345720
Q1 2024325771
Q2 2024349687
Q3 2024435605

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ4 23 calls: $1.0mQ4 23 puts: $398.0kQ4 23P/C 0.40Q1 24 calls: $1.9mQ1 24 puts: $40.0mQ1 24P/C 21.30Q2 24 calls: $1.2mQ2 24 puts: $8.6mQ2 24P/C 6.99Q3 24 calls: $830.9kQ3 24 puts: $2.5mQ3 24P/C 2.97
Numbers
QuarterCallsPutsP/C
Q4 2023$1.0m$398.0k0.40
Q1 2024$1.9m$40.0m21.30
Q2 2024$1.2m$8.6m6.99
Q3 2024$830.9k$2.5m2.97

Biggest buyers

Horizon Investments, LLC Added +1,024,839+1.0m
Russell Investments Group, Ltd. Added +762,165+762.2k
MORGAN STANLEY Added +569,764+569.8k
Ocean Park Asset Management, LLC Added +547,560+547.6k
OSAIC HOLDINGS, INC. Added +352,259+352.3k
LPL Financial LLC Added +346,414+346.4k
SYKON CAPITAL LLC New +299,725+299.7k
BANK OF AMERICA CORP /DE/ Added +285,959+286.0k
Bank of New York Mellon Corp Added +282,447+282.4k
SEI INVESTMENTS CO Added +240,108+240.1k

Biggest sellers

RAYMOND JAMES & ASSOCIATES Reduced -5,849,791-5.8m
CAPTRUST FINANCIAL ADVISORS Reduced -5,088,230-5.1m
JPMORGAN CHASE & CO Reduced -4,435,230-4.4m
Focus Partners Wealth Reduced -794,860-794.9k
Raymond James Financial Services Advisors, Inc. Reduced -678,406-678.4k
Symmetry Partners, LLC Reduced -641,402-641.4k
Qube Research & Technologies Ltd Reduced -450,633-450.6k
FMR LLC Reduced -376,266-376.3k
BARCLAYS PLC Reduced -275,128-275.1k
AMERIPRISE FINANCIAL INC Reduced -247,046-247.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $767.0k8.4k shares
CITADEL ADVISORS LLC Reduced $63.9k700 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.3m14.3k shares
CITADEL ADVISORS LLC Added $1.2m12.7k 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 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.14% of their portfolio NEW YORK, NY 21,823,92821.8m $2.0bn $2.0bn 0.14% Added +569.8k +569,764
2 BANK OF AMERICA CORP /DE/ 0.13% of their portfolio CHARLOTTE, NC 16,268,51616.3m $1.5bn $1.5bn 0.13% Added +286.0k +285,959
3 FMR LLC 0.08% of their portfolio BOSTON, MA 14,153,45214.2m $1.3bn $1.3bn 0.08% Reduced -376.3k -376,266
4 RAYMOND JAMES & ASSOCIATES 0.57% of their portfolio ST PETERSBURG, FL 10,245,94410.2m $935.6m $935.6m 0.57% Reduced -5.8m -5,849,791
5 PNC Financial Services Group, Inc. 0.58% of their portfolio Pittsburgh, PA 9,905,0089.9m $904.4m $904.4m 0.58% Added +91.9k +91,948
6 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 6,973,1227.0m $636.7m $636.7m 0.03% Reduced -4.4m -4,435,230
7 LPL Financial LLC 0.22% of their portfolio FORT MILL, SC 5,357,6235.4m $489.2m $489.2m 0.22% Added +346.4k +346,414
8 BlackRock, Inc. 0.01% of their portfolio New York, NY 5,205,1475.2m $475.3m $475.3m 0.01% First filing
9 ENVESTNET ASSET MANAGEMENT INC 0.14% of their portfolio Berwyn, PA 4,765,1594.8m $435.1m $435.1m 0.14% Reduced -204.5k -204,490
10 Alaska Permanent Fund Corp 6.28% of their portfolio JUNEAU, AK 4,698,3874.7m $429.0m $429.0m 6.28% Reduced -79.6k -79,567
11 UBS Group AG 0.10% of their portfolio ZURICH, V8 3,842,1933.8m $350.8m $350.8m 0.10% Reduced -75.8k -75,772
12 WELLS FARGO & COMPANY/MN 0.08% of their portfolio SAN FRANCISCO, CA 3,775,4843.8m $344.7m $344.7m 0.08% Reduced -70.3k -70,327
13 Raymond James Financial Services Advisors, Inc. 0.43% of their portfolio ST. PETERSBURG, FL 3,564,7583.6m $325.5m $325.5m 0.43% Reduced -678.4k -678,406
14 Millburn Ridgefield LLC /DE/ 8.31% of their portfolio New York, NY 3,470,5583.5m $316.9m $316.9m 8.31% Reduced -188.1k -188,149
15 Catalyst Capital Advisors LLC 7.14% of their portfolio San Juan, PR 3,470,5583.5m $316.9m $316.9m 7.14% Reduced -188.1k -188,149
16 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.63% of their portfolio PLYMOUTH, MN 3,204,0003.2m $292.4m $292.4m 0.63% Added +2.0k +1,957
17 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 2,309,6182.3m $210.9m $210.9m 0.05% Reduced -247.0k -247,046
18 COMMONWEALTH EQUITY SERVICES, LLC 0.30% of their portfolio WALTHAM, MA 2,159,4242.2m $197.2m $197.2m 0.30% Reduced -161.8k -161,809
19 Cerity Partners LLC 0.43% of their portfolio NEW YORK, NY 2,134,1752.1m $194.9m $194.9m 0.43% Added +17.3k +17,264
20 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.17% of their portfolio MILWAUKEE, WI 2,057,3212.1m $187.9m $187.9m 0.17% Reduced -48.4k -48,439
21 MERCER GLOBAL ADVISORS INC /ADV 0.41% of their portfolio DENVER, CO 1,923,4721.9m $175.3m $175.3m 0.41% Reduced -241.7k -241,692
22 Horizon Investments, LLC 4.56% of their portfolio Charlotte, NC 1,880,2071.9m $171.7m $171.7m 4.56% Added +1.0m +1,024,839
23 Cetera Investment Advisers 0.36% of their portfolio SCHAUMBURG, IL 1,824,0491.8m $166.6m $166.6m 0.36% Reduced -20.5k -20,476
24 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,693,1241.7m $154.6m $154.6m 0.03% Reduced -53.1k -53,101
25 ASSETMARK, INC 0.42% of their portfolio CONCORD, CA 1,596,0671.6m $145.7m $145.7m 0.42% Added +1.8k +1,798
26 SEI INVESTMENTS CO 0.18% of their portfolio OAKS, PA 1,518,9241.5m $138.7m $138.7m 0.18% Added +240.1k +240,108
27 Cambridge Investment Research Advisors, Inc. 0.45% of their portfolio FAIRFIELD, IA 1,462,0091.5m $133.5m $133.5m 0.45% Reduced -23.8k -23,821
28 OSAIC HOLDINGS, INC. 0.28% of their portfolio SCOTTSDALE, AZ 1,347,5321.3m $123.1m $123.1m 0.28% Added +352.3k +352,259
29 US BANCORP \DE\ 0.16% of their portfolio MINNEAPOLIS, MN 1,342,4351.3m $122.6m $122.6m 0.16% Reduced -74.9k -74,862
30 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,284,5161.3m $117.3m $117.3m 0.02% Added +282.4k +282,447
31 Mariner, LLC 0.19% of their portfolio Overland Park, KS 1,179,5181.2m $107.7m $107.7m 0.19% Reduced -27.7k -27,669
32 JOHNSON INVESTMENT COUNSEL INC 1.00% of their portfolio Cincinnati, OH 1,112,2491.1m $101.6m $101.6m 1.00% Added +68.0k +67,970
33 Dynasty Wealth Management, LLC 3.06% of their portfolio ST. PETERSBURG, FL 1,110,3851.1m $101.4m $101.4m 3.06% Added +79.0k +78,976
34 Financial Advisors, LLC 19.30% of their portfolio ANDOVER, MA 1,109,2091.1m $101.3m $101.3m 19.30% Added +16.6k +16,576
35 SECURIAN ASSET MANAGEMENT, INC 2.86% of their portfolio ST PAUL, MN 1,086,0621.1m $99.2m $99.2m 2.86% Reduced -92.9k -92,900
36 Brookstone Capital Management 1.36% of their portfolio WHEATON, IL 1,010,4151.0m $92.3m $92.3m 1.36% Reduced -15.2k -15,248
37 Quotient Wealth Partners, LLC 3.00% of their portfolio DALLAS, TX 1,000,8971.0m $91.4m $91.4m 3.00% Added +15.8k +15,821
38 CAPTRUST FINANCIAL ADVISORS 0.25% of their portfolio RALEIGH, NC 911,396911.4k $83.2m $83.2m 0.25% Reduced -5.1m -5,088,230
39 Russell Investments Group, Ltd. 0.10% of their portfolio Seattle, WA 766,612766.6k $70.0m $70.0m 0.10% Added +762.2k +762,165
40 HighTower Advisors, LLC 0.10% of their portfolio CHICAGO, IL 739,768739.8k $67.5m $67.5m 0.10% Reduced -7.5k -7,496
41 CWM, LLC 0.29% of their portfolio OMAHA, NE 728,740728.7k $66.5m $66.5m 0.29% Added +70.6k +70,601
42 Ocean Park Asset Management, LLC 2.63% of their portfolio SANTA MONICA, CA 655,584655.6k $59.9m $59.9m 2.63% Added +547.6k +547,560
43 MML INVESTORS SERVICES, LLC 0.22% of their portfolio SPRINGFIELD, MA 646,650646.6k $59.0m $59.0m 0.22% Reduced -20.5k -20,502
44 Integrated Wealth Concepts LLC 0.71% of their portfolio WALTHAM, MA 634,509634.5k $57.9m $57.9m 0.71% Added +43.8k +43,846
45 Steward Partners Investment Advisory, LLC 0.52% of their portfolio STAMFORD, CT 614,976615.0k $56.2m $56.2m 0.52% Added +75.8k +75,765
46 Janney Montgomery Scott LLC 0.15% of their portfolio PHILADELPHIA, PA 585,843585.8k $53.5m $53.5m 0.15% Reduced -3.5k -3,528
47 Geneos Wealth Management Inc. 1.91% of their portfolio ENGLEWOOD, CO 548,456548.5k $50.1m $50.1m 1.91% Added +2.6k +2,553
48 Private Advisor Group, LLC 0.30% of their portfolio MORRISTOWN, NJ 529,830529.8k $48.4m $48.4m 0.30% Reduced -39.3k -39,346
49 Carrera Capital Advisors 11.65% of their portfolio TROY, MI 521,775521.8k $47.6m $47.6m 11.65% Added +127.0k +126,966
50 ARS Wealth Advisors Group, LLC 5.84% of their portfolio St. Petersburg, FL 520,388520.4k $47.5m $47.5m 5.84% Added +778 +778
51 NewEdge Advisors, LLC 0.30% of their portfolio NEW ORLEANS, LA 510,584510.6k $46.6m $46.6m 0.30% Added +11.6k +11,633
52 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 500,000500.0k $45.4m $45.4m 0.03% Unchanged
53 GLENMEDE TRUST CO NA 0.20% of their portfolio PHILADELPHIA, PA 449,459449.5k $41.0m $41.0m 0.20% Reduced -9.5k -9,497
54 Allianz SE 1.11% of their portfolio Munich, 2M 448,784448.8k $41.0m $41.0m 1.11% Added +160.5k +160,489
55 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 430,282430.3k $39.3m $39.3m 0.06% Added +101.4k +101,414
56 Fragasso Financial Advisors Inc 2.97% of their portfolio SEWICKLEY, PA 424,062424.1k $38.7m $38.7m 2.97% Reduced -100.5k -100,503
57 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 420,790420.8k $38.4m $38.4m 0.04% Added +11.5k +11,481
58 Klingman & Associates, LLC 2.17% of their portfolio New York, NY 384,567384.6k $35.1m $35.1m 2.17% Reduced -3.8k -3,774
59 Equitable Holdings, Inc. 0.34% of their portfolio NEW YORK, NY 383,640383.6k $35.0m $35.0m 0.34% Added +3.5k +3,476
60 BARCLAYS PLC 0.02% of their portfolio LONDON, X0 373,146373.1k $34.1m $34.1m 0.02% Reduced -275.1k -275,128
61 KEYBANK NATIONAL ASSOCIATION/OH 0.13% of their portfolio BROOKLYN, OH 369,965370.0k $33.8m $33.8m 0.13% Reduced -34.2k -34,185
62 Allianz Asset Management GmbH 0.05% of their portfolio MUNICH, 2M 364,017364.0k $33.2m $33.2m 0.05% Unchanged
63 Halpern Financial, Inc. 8.48% of their portfolio ASHBURN, VA 362,245362.2k $33.0m $33.0m 8.48% Reduced -12.1k -12,144
64 Facet Wealth, Inc. 0.89% of their portfolio WEST PALM BEACH, FL 347,943347.9k $31.3m $31.3m 0.89% Added +31.6k +31,586
65 Insight Wealth Strategies, LLC 4.08% of their portfolio SAN RAMON, CA 339,326339.3k $31.0m $31.0m 4.08% Added +31.4k +31,433
66 High Probability Advisors, LLC 5.22% of their portfolio Pittsford, NY 335,460335.5k $30.6m $30.6m 5.22% Reduced -4.9k -4,901
67 Alpine Bank Wealth Management 4.79% of their portfolio GRAND JUNCTION, CO 328,317328.3k $30.0m $30.0m 4.79% First filing
68 GDS Wealth Management 2.91% of their portfolio FLOWER MOUND, TX 327,034327.0k $29.9m $29.9m 2.91% Reduced -9.9k -9,866
69 Apella Capital, LLC 1.19% of their portfolio WEST HARTFORD, CT 319,280319.3k $29.0m $29.0m 1.19% Added +5.0k +5,049
70 Atria Wealth Solutions, Inc. 0.31% of their portfolio NEW YORK, NY 314,813314.8k $28.7m $28.7m 0.31% Reduced -2.5k -2,453
71 Executive Wealth Management, LLC 2.25% of their portfolio BRIGHTON, MI 314,228314.2k $28.7m $28.7m 2.25% Added +56.2k +56,184
72 Focus Partners Wealth 0.09% of their portfolio ST LOUIS, MO 310,005310.0k $28.3m $28.3m 0.09% Reduced -794.9k -794,860
73 CAPSTONE INVESTMENT ADVISORS, LLC 0.52% of their portfolio NEW YORK, NY 300,000300.0k $27.4m $27.4m 0.52% Reduced -247.0k -247,018
74 SYKON CAPITAL LLC 9.66% of their portfolio HARRISON, NY 299,725299.7k $27.4m $27.4m 9.66% New
75 OneDigital Investment Advisors LLC 0.31% of their portfolio OVERLAND PARK, KS 298,992299.0k $27.3m $27.3m 0.31% Reduced -6.0k -5,971
76 Kestra Advisory Services, LLC 0.15% of their portfolio AUSTIN, TX 297,502297.5k $27.2m $27.2m 0.15% Reduced -45.3k -45,345
77 CHOREO, LLC 0.40% of their portfolio ROCKFORD, IL 295,823295.8k $27.0m $27.0m 0.40% Reduced -9.2k -9,176
78 Rakuten Investment Management, Inc. 0.16% of their portfolio TOKYO, M0 291,703291.7k $26.6m $26.6m 0.16% Reduced -4.9k -4,900
79 Stratos Wealth Partners, LTD. 0.38% of their portfolio BEACHWOOD, OH 290,570290.6k $26.5m $26.5m 0.38% Reduced -17.2k -17,232
80 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 287,960288.0k $26.3m $26.3m 0.01% Reduced -23.8k -23,798
81 Trilogy Capital Inc. 1.31% of their portfolio IRVINE, CA 285,234285.2k $26.0m $26.0m 1.31% Reduced -12.4k -12,368
82 Sovereign Investment Advisors, LLC 8.52% of their portfolio PHOENIX, AZ 284,538284.5k $26.0m $26.0m 8.52% Reduced -39.3k -39,299
83 CITIZENS FINANCIAL GROUP INC/RI 0.51% of their portfolio PROVIDENCE, RI 279,541279.5k $25.5m $25.5m 0.51% Reduced -3.2k -3,180
84 Rehmann Capital Advisory Group 1.65% of their portfolio LANSING, MI 276,121276.1k $25.2m $25.2m 1.65% Reduced -4.0k -3,970
85 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 265,224265.2k $24.2m $24.2m 0.02% Reduced -60.4k -60,409
86 Envestnet Portfolio Solutions, Inc. 0.08% of their portfolio BERWYN, PA 259,960260.0k $23.7m $23.7m 0.08% Added +19.4k +19,413
87 Cornerstone Wealth Management, LLC 1.66% of their portfolio ST. PETERS, MO 258,611258.6k $23.6m $23.6m 1.66% Reduced -28 -28
88 Capital Advisors, Ltd. LLC 2.89% of their portfolio SHAKER HEIGHTS, OH 255,527255.5k $23.3m $23.3m 2.89% Reduced -7.2k -7,199
89 Lineweaver Wealth Advisors, LLC 4.40% of their portfolio VALLEY VIEW, OH 253,242253.2k $23.1m $23.1m 4.40% Reduced -1.7k -1,666
90 MV CAPITAL MANAGEMENT, INC. 2.43% of their portfolio BETHESDA, MD 250,757250.8k $22.9m $22.9m 2.43% Reduced -11.0k -10,989
91 Well Done, LLC 4.18% of their portfolio HOLLAND, MI 250,574250.6k $22.9m $22.9m 4.18% Added +35.3k +35,262
92 Beacon Pointe Advisors, LLC 0.25% of their portfolio NEWPORT BEACH, CA 239,731239.7k $21.9m $21.9m 0.25% Reduced -9.8k -9,803
93 Journey Advisory Group, LLC 2.35% of their portfolio COVINGTON, KY 234,153234.2k $19.7m $19.7m 2.35% Reduced -4.2k -4,151
94 Lowe Wealth Advisors, LLC 9.12% of their portfolio COLUMBIA, MD 231,921231.9k $21.2m $21.2m 9.12% Added +198 +198
95 Cassia Capital Partners, LLC 13.90% of their portfolio WINSTON SALEM, NC 230,591230.6k $21.1m $21.1m 13.90% Reduced -7.7k -7,673
96 AVANTAX ADVISORY SERVICES, INC. 0.14% of their portfolio DALLAS, TX 227,238227.2k $20.7m $20.7m 0.14% Reduced -6.9k -6,858
97 BARON SILVER STEVENS FINANCIAL ADVISORS, LLC 3.61% of their portfolio Boca Raton, FL 226,484226.5k $20.7m $20.7m 3.61% Added +471 +471
98 Adaptive Financial Consulting, LLC 8.41% of their portfolio BEACHWOOD, OH 226,260226.3k $20.7m $20.7m 8.41% Reduced -72 -72
99 Valmark Advisers, Inc. 0.31% of their portfolio AKRON, OH 219,949219.9k $20.1m $20.1m 0.31% Added +1.5k +1,484
100 Summit Wealth Partners, LLC 3.87% of their portfolio Orlando, FL 219,886219.9k $20.1m $20.1m 3.87% Reduced -2.5k -2,520