Vault-13

ISHARES TR USMV

MSCI USA MIN VOL · ETP · CUSIP 46429B697

1,367 institutional holders -11 vs Q4 2025
172,332,230172.3m shares reported held*
$16.0bnreported value*
90 new 415 added 577 reduced 93 sold out net sold ≈ $524.3m (-5.7m 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 ($49.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $92.76. Options: 2 managers hold calls ($871.8k notional), 2 hold puts ($1.6m).

Trends to Q1 2026

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: 1,193Q4 24: 1,287Q1 25: 1,302Q2 25: 1,303Q3 25: 1,307Q4 25: 1,378Q1 26: 1,3671,367Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q4 20241,287
Q1 20251,302
Q2 20251,303
Q3 20251,307
Q4 20251,378
Q1 20261,367

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 24: 349 bought or addedQ2 24: 687 cut or sold outQ3 24: 435 bought or addedQ3 24: 605 cut or sold outQ3 24Q4 24: 415 bought or addedQ4 24: 595 cut or sold outQ1 25: 518 bought or addedQ1 25: 610 cut or sold outQ1 25Q2 25: 523 bought or addedQ2 25: 600 cut or sold outQ3 25: 482 bought or addedQ3 25: 623 cut or sold outQ3 25Q4 25: 504 bought or addedQ4 25: 624 cut or sold outQ1 26: 505 bought or addedQ1 26: 670 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024349687
Q3 2024435605
Q4 2024415595
Q1 2025518610
Q2 2025523600
Q3 2025482623
Q4 2025504624
Q1 2026505670

Calls vs puts

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

CallsPuts
$0$2.5m$5m$7.5m$10mQ2 25 calls: $3.0mQ2 25 puts: $7.5mQ2 25P/C 2.51Q3 25 calls: $3.0mQ3 25 puts: $9.1mQ3 25P/C 3.05Q4 25 calls: $2.6mQ4 25 puts: $6.4mQ4 25P/C 2.41Q1 26 calls: $871.8kQ1 26 puts: $1.6mQ1 26P/C 1.88
Numbers
QuarterCallsPutsP/C
Q2 2025$3.0m$7.5m2.51
Q3 2025$3.0m$9.1m3.05
Q4 2025$2.6m$6.4m2.41
Q1 2026$871.8k$1.6m1.88

Biggest buyers

FMR LLC Added +3,140,299+3.1m
Beacon Pointe Advisors, LLC Added +1,117,752+1.1m
RITHOLTZ WEALTH MANAGEMENT New +800,500+800.5k
Geneos Wealth Management Inc. Added +569,762+569.8k
ENVESTNET ASSET MANAGEMENT INC Added +504,119+504.1k
Catalyst Capital Advisors LLC Added +489,637+489.6k
Millburn Ridgefield LLC /DE/ Added +489,637+489.6k
RAYMOND JAMES FINANCIAL INC Added +477,559+477.6k
Caisse de depot et placement du Quebec New +441,070+441.1k
RWA WEALTH PARTNERS, LLC Added +236,270+236.3k

Biggest sellers

WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -2,607,282-2.6m
MORGAN STANLEY Reduced -2,487,931-2.5m
JPMORGAN CHASE & CO Reduced -1,676,782-1.7m
TWO SIGMA INVESTMENTS, LP Reduced -1,242,000-1.2m
BlackRock, Inc. Reduced -941,852-941.9k
BNP PARIBAS FINANCIAL MARKETS Reduced -796,941-796.9k
Dynasty Wealth Management, LLC Reduced -681,132-681.1k
Quotient Wealth Partners, LLC Reduced -657,384-657.4k
AMERIPRISE FINANCIAL INC Reduced -364,649-364.6k
Qube Research & Technologies Ltd Reduced -326,222-326.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $584.3k6.3k shares
JANE STREET GROUP, LLC Reduced $287.5k3.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $843.9k9.1k shares
CITADEL ADVISORS LLC Reduced $797.6k8.6k 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.08% of their portfolio BOSTON, MA 15,351,24615.4m $1.4bn $1.4bn 0.08% Added +3.1m +3,140,299
2 RAYMOND JAMES FINANCIAL INC 0.41% of their portfolio ST. PETERSBURG, FL 14,250,67714.3m $1.3bn $1.3bn 0.41% Added +477.6k +477,559
3 BANK OF AMERICA CORP /DE/ 0.09% of their portfolio CHARLOTTE, NC 12,775,02612.8m $1.2bn $1.2bn 0.09% Reduced -248.4k -248,432
4 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 12,748,91012.7m $1.2bn $1.2bn 0.07% Reduced -2.5m -2,487,931
5 LPL Financial LLC 0.15% of their portfolio FORT MILL, SC 6,281,0976.3m $582.5m $582.5m 0.15% Reduced -7.6k -7,568
6 PNC Financial Services Group, Inc. 0.24% of their portfolio Pittsburgh, PA 4,482,7604.5m $415.7m $415.7m 0.24% Reduced -186.2k -186,245
7 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.89% of their portfolio PLYMOUTH, MN 4,370,4604.4m $406.9m $406.9m 0.89% Reduced -2.6m -2,607,282
8 Millburn Ridgefield LLC /DE/ 8.46% of their portfolio New York, NY 4,242,5974.2m $393.5m $393.5m 8.46% Added +489.6k +489,637
9 Catalyst Capital Advisors LLC 7.33% of their portfolio San Juan, PR 4,242,5974.2m $393.5m $393.5m 7.33% Added +489.6k +489,637
10 ENVESTNET ASSET MANAGEMENT INC 0.10% of their portfolio Berwyn, PA 3,985,1084.0m $369.6m $369.6m 0.10% Added +504.1k +504,119
11 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 3,543,3013.5m $328.6m $328.6m 0.07% Added +33.7k +33,675
12 UBS Group AG 0.05% of their portfolio ZURICH, V8 3,227,9083.2m $299.4m $299.4m 0.05% Reduced -190.3k -190,318
13 BlackRock, Inc. 0.01% of their portfolio New York, NY 3,219,9333.2m $298.6m $298.6m 0.01% Reduced -941.9k -941,852
14 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 2,443,4952.4m $226.6m $226.6m 0.05% Reduced -364.6k -364,649
15 Cetera Investment Advisers 0.21% of their portfolio SCHAUMBURG, IL 2,162,4562.2m $200.5m $200.5m 0.21% Added +39.3k +39,289
16 COMMONWEALTH EQUITY SERVICES, LLC 0.25% of their portfolio WALTHAM, MA 1,906,7951.9m $176.8m $176.8m 0.25% Reduced -88.7k -88,683
17 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,865,9811.9m $171.1m $171.1m 0.01% Reduced -1.7m -1,676,782
18 SEI INVESTMENTS CO 0.13% of their portfolio OAKS, PA 1,560,0421.6m $144.7m $144.7m 0.13% Added +28.7k +28,733
19 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,558,8991.6m $144.6m $144.6m 0.03% Reduced -104.7k -104,738
20 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.09% of their portfolio MILWAUKEE, WI 1,521,2311.5m $141.1m $141.1m 0.09% Reduced -154.0k -154,008
21 Beacon Pointe Advisors, LLC 0.67% of their portfolio NEWPORT BEACH, CA 1,356,1701.4m $125.8m $125.8m 0.67% Added +1.1m +1,117,752
22 ASSETMARK, INC 0.25% of their portfolio CONCORD, CA 1,343,2051.3m $124.6m $124.6m 0.25% Reduced -211.2k -211,159
23 Cambridge Investment Research Advisors, Inc. 0.32% of their portfolio FAIRFIELD, IA 1,336,8701.3m $124.0m $124.0m 0.32% Reduced -81.6k -81,638
24 Cerity Partners LLC 0.17% of their portfolio NEW YORK, NY 1,326,0831.3m $123.0m $123.0m 0.17% Added +103.4k +103,388
25 Horizon Investments, LLC 1.35% of their portfolio Charlotte, NC 1,303,4991.3m $120.9m $120.9m 1.35% Added +111.8k +111,805
26 JOHNSON INVESTMENT COUNSEL INC 0.96% of their portfolio Cincinnati, OH 1,276,7211.3m $118.4m $118.4m 0.96% Added +42.6k +42,620
27 TWO SIGMA INVESTMENTS, LP 0.10% of their portfolio NEW YORK, NY 1,250,6001.3m $116.0m $116.0m 0.10% Reduced -1.2m -1,242,000
28 Focus Partners Wealth 0.12% of their portfolio ST LOUIS, MO 1,188,4531.2m $110.2m $110.2m 0.12% Reduced -37.2k -37,166
29 JONES FINANCIAL COMPANIES LLLP 0.05% of their portfolio DES PERES, MO 1,159,4981.2m $105.7m $105.7m 0.05% Added +150.7k +150,723
30 Geneos Wealth Management Inc. 2.46% of their portfolio ENGLEWOOD, CO 1,143,5571.1m $106.1m $106.1m 2.46% Added +569.8k +569,762
31 MERCER GLOBAL ADVISORS INC /ADV 0.15% of their portfolio DENVER, CO 1,077,8891.1m $100.0m $100.0m 0.15% Reduced -189.7k -189,724
32 Mariner, LLC 0.12% of their portfolio Overland Park, KS 1,075,2431.1m $99.7m $99.7m 0.12% Added +20.0k +19,967
33 Brookstone Capital Management 0.95% of their portfolio WHEATON, IL 893,614893.6k $82.9m $82.9m 0.95% Added +39.3k +39,266
34 Russell Investments Group, Ltd. 0.09% of their portfolio Seattle, WA 853,808853.8k $79.2m $79.2m 0.09% Added +1.7k +1,690
35 SECURIAN ASSET MANAGEMENT, INC 3.07% of their portfolio ST PAUL, MN 837,287837.3k $77.6m $77.6m 3.07% Reduced -33.0k -33,000
36 OSAIC HOLDINGS, INC. 0.11% of their portfolio SCOTTSDALE, AZ 818,745818.7k $76.0m $76.0m 0.11% Reduced -156.0k -155,992
37 RITHOLTZ WEALTH MANAGEMENT 1.29% of their portfolio NEW YORK, NY 800,500800.5k $74.2m $74.2m 1.29% New
38 CWM, LLC 0.18% of their portfolio OMAHA, NE 733,419733.4k $68.0m $68.0m 0.18% Reduced -62.3k -62,311
39 CAPTRUST FINANCIAL ADVISORS 0.12% of their portfolio RALEIGH, NC 715,391715.4k $66.3m $66.3m 0.12% Reduced -20.6k -20,555
40 US BANCORP \DE\ 0.08% of their portfolio MINNEAPOLIS, MN 707,715707.7k $65.6m $65.6m 0.08% Reduced -21.0k -20,988
41 HighTower Advisors, LLC 0.07% of their portfolio CHICAGO, IL 701,950702.0k $65.1m $65.1m 0.07% Added +30.8k +30,751
42 MAI Capital Management 0.37% of their portfolio INDEPENDENCE, OH 698,393698.4k $64.8m $64.8m 0.37% Reduced -14.3k -14,301
43 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 656,306656.3k $60.9m $60.9m 0.06% Added +872 +872
44 Steward Partners Investment Advisory, LLC 0.30% of their portfolio STAMFORD, CT 634,361634.4k $58.8m $58.8m 0.30% Reduced -31.9k -31,947
45 NewEdge Advisors, LLC 0.21% of their portfolio NEW ORLEANS, LA 618,327618.3k $57.3m $57.3m 0.21% Added +142.7k +142,687
46 Janney Montgomery Scott LLC 0.14% of their portfolio PHILADELPHIA, PA 617,480617.5k $57.3m $57.3m 0.14% Reduced -54.0k -53,960
47 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 532,541532.5k $49.4m $49.4m 0.01% Reduced -4.4k -4,427
48 Private Advisor Group, LLC 0.21% of their portfolio MORRISTOWN, NJ 492,726492.7k $45.7m $45.7m 0.21% Reduced -10.5k -10,529
49 Facet Wealth, Inc. 0.75% of their portfolio WEST PALM BEACH, FL 465,985466.0k $43.2m $43.2m 0.75% Added +3.4k +3,443
50 Caisse de depot et placement du Quebec 0.07% of their portfolio Montreal, A8 441,070441.1k $40.9m $40.9m 0.07% New
51 Integrated Wealth Concepts LLC 0.32% of their portfolio WALTHAM, MA 426,378426.4k $39.5m $39.5m 0.32% Added +143.9k +143,895
52 GLENMEDE TRUST CO NA 0.18% of their portfolio PHILADELPHIA, PA 404,160404.2k $37.5m $37.5m 0.18% Reduced -21.3k -21,269
53 High Probability Advisors, LLC 4.67% of their portfolio Pittsford, NY 393,657393.7k $36.5m $36.5m 4.67% Added +11.2k +11,167
54 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 391,430391.4k $36.3m $36.3m 0.01% Reduced -138.2k -138,229
55 ARS Wealth Advisors Group, LLC 2.87% of their portfolio St. Petersburg, FL 366,628366.6k $34.0m $34.0m 2.87% Reduced -10.9k -10,866
56 MML INVESTORS SERVICES, LLC 0.09% of their portfolio SPRINGFIELD, MA 365,834365.8k $33.9m $33.9m 0.09% Reduced -142.4k -142,437
57 Klingman & Associates, LLC 1.61% of their portfolio New York, NY 361,598361.6k $33.5m $33.5m 1.61% Reduced -1.5k -1,490
58 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 342,687342.7k $31.8m $31.8m 0.04% Added +5.5k +5,511
59 Symmetry Partners, LLC 1.76% of their portfolio GLASTONBURY, CT 332,924332.9k $30.9m $30.9m 1.76% Added +25.2k +25,246
60 Kestra Advisory Services, LLC 0.12% of their portfolio AUSTIN, TX 329,668329.7k $30.6m $30.6m 0.12% Added +49.3k +49,300
61 Rehmann Capital Advisory Group 1.59% of their portfolio LANSING, MI 328,555328.6k $30.5m $30.5m 1.59% Added +20.5k +20,456
62 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 327,516327.5k $30.4m $30.4m 0.02% Added +77.2k +77,206
63 Lineweaver Wealth Advisors, LLC 3.97% of their portfolio VALLEY VIEW, OH 317,175317.2k $29.4m $29.4m 3.97% Added +5.2k +5,192
64 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 301,846301.8k $28.4m $28.4m 0.01% Reduced -16.2k -16,205
65 KEYBANK NATIONAL ASSOCIATION/OH 0.10% of their portfolio BROOKLYN, OH 301,021301.0k $27.9m $27.9m 0.10% Reduced -21.0k -21,039
66 GDS Wealth Management 1.55% of their portfolio FLOWER MOUND, TX 278,149278.1k $25.8m $25.8m 1.55% Added +13.5k +13,490
67 PARK AVENUE SECURITIES LLC 0.19% of their portfolio NEW YORK, NY 266,927266.9k $24.8m $24.8m 0.19% Reduced -42.7k -42,740
68 Cornerstone Wealth Management, LLC 1.19% of their portfolio ST. PETERS, MO 256,054256.1k $23.7m $23.7m 1.19% Added +2.3k +2,292
69 Lido Advisors, LLC 0.09% of their portfolio Los Angeles, CA 249,200249.2k $23.1m $23.1m 0.09% Reduced -25.1k -25,147
70 SAGESPRING WEALTH PARTNERS, LLC 0.41% of their portfolio FRANKLIN, TN 243,173243.2k $22.6m $22.6m 0.41% Reduced -18.5k -18,503
71 RWA WEALTH PARTNERS, LLC 0.25% of their portfolio BOSTON, MA 241,999242.0k $22.4m $22.4m 0.25% Added +236.3k +236,270
72 Vestcor Inc 0.61% of their portfolio FREDERICTON, A3 239,551239.6k $22.2m $22.2m 0.61% Reduced -181.2k -181,197
73 Cassia Capital Partners, LLC 11.40% of their portfolio WINSTON SALEM, NC 239,019239.0k $22.2m $22.2m 11.40% Added +11.5k +11,526
74 Meridian Wealth Advisors, LLC 2.90% of their portfolio AUSTIN, TX 236,775236.8k $22.0m $22.0m 2.90% Added +39.1k +39,141
75 Adaptive Financial Consulting, LLC 8.37% of their portfolio BEACHWOOD, OH 235,579235.6k $21.8m $21.8m 8.37% Added +12.7k +12,740
76 CITIZENS FINANCIAL GROUP INC/RI 0.30% of their portfolio PROVIDENCE, RI 234,954235.0k $21.8m $21.8m 0.30% Reduced -1.6k -1,577
77 Capital Advisors, Ltd. LLC 2.46% of their portfolio SHAKER HEIGHTS, OH 233,687233.7k $21.7m $21.7m 2.46% Reduced -8.4k -8,370
78 Pacific Center for Financial Services 5.43% of their portfolio DANVILLE, CA 231,033231.0k $21.4m $21.4m 5.43% Reduced -7.3k -7,312
79 Well Done, LLC 3.11% of their portfolio HOLLAND, MI 228,169228.2k $21.2m $21.2m 3.11% Reduced -16.1k -16,080
80 OneDigital Investment Advisors LLC 0.21% of their portfolio OVERLAND PARK, KS 226,716226.7k $21.0m $21.0m 0.21% Reduced -7.9k -7,882
81 Penserra Capital Management LLC 0.25% of their portfolio ORINDA, CA 225,590225.6k $20.9m $20.9m 0.25% New
82 Journey Advisory Group, LLC 1.74% of their portfolio COVINGTON, KY 218,582218.6k $20.3m $20.3m 1.74% Reduced -3.6k -3,553
83 Lester Murray Antman dba SimplyRich 5.17% of their portfolio CARLSBAD, CA 217,943217.9k $20.2m $20.2m 5.17% Reduced -2.8k -2,771
84 BARON SILVER STEVENS FINANCIAL ADVISORS, LLC 2.91% of their portfolio Boca Raton, FL 216,124216.1k $20.0m $20.0m 2.91% Reduced -8.4k -8,408
85 Sanctuary Advisors, LLC 0.11% of their portfolio INDIANAPOLIS, IN 215,810215.8k $20.0m $20.0m 0.11% Reduced -10.7k -10,653
86 Dynasty Wealth Management, LLC 0.17% of their portfolio ST. PETERSBURG, FL 212,459212.5k $19.7m $19.7m 0.17% Reduced -681.1k -681,132
87 ANDERSON HOAGLAND & CO 1.68% of their portfolio ST LOUIS, MO 210,228210.2k $19.5m $19.5m 1.68% Added +28.6k +28,637
88 CHOREO, LLC 0.24% of their portfolio ROCKFORD, IL 206,453206.5k $19.1m $19.1m 0.24% Reduced -10.5k -10,526
89 Rakuten Investment Management, Inc. 0.04% of their portfolio TOKYO, M0 205,766205.8k $19.5m $19.5m 0.04% Added +102.9k +102,883
90 &PARTNERS 0.09% of their portfolio NASHVILLE, TN 203,693203.7k $18.6m $18.6m 0.09% Reduced -8.0k -8,002
91 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 200,801200.8k $18.6m $18.6m 0.01% Reduced -32.9k -32,883
92 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 200,055200.1k $18.6m $18.6m 0.03% Reduced -2.5k -2,505
93 Wealth Advisors of Iowa, LLC 5.66% of their portfolio WEST DES MOINES, IA 197,331197.3k $18.3m $18.3m 5.66% Added +695 +695
94 Equitable Holdings, Inc. 0.12% of their portfolio NEW YORK, NY 191,799191.8k $18.1m $18.1m 0.12% Reduced -10.3k -10,300
95 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.11% of their portfolio IRVING, TX 191,280191.3k $17.7m $17.7m 0.11% Reduced -2.6k -2,605
96 Stratos Wealth Partners, LTD. 0.20% of their portfolio BEACHWOOD, OH 187,090187.1k $17.4m $17.4m 0.20% Reduced -54.4k -54,386
97 Summit Wealth Partners, LLC 2.68% of their portfolio Orlando, FL 182,452182.5k $16.9m $16.9m 2.68% Reduced -6.2k -6,242
98 Valmark Advisers, Inc. 0.20% of their portfolio AKRON, OH 181,946181.9k $16.9m $16.9m 0.20% Reduced -32.8k -32,849
99 Independent Advisor Alliance 0.18% of their portfolio CHARLOTTE, NC 181,404181.4k $16.8m $16.8m 0.18% Added +176.1k +176,130
100 Darrow Company, Inc. 7.50% of their portfolio Needham, MA 179,532179.5k $16.6m $16.6m 7.50% Added +4.7k +4,726