Vault-13

ISHARES TR USMV

MSCI USA MIN VOL · ETP · CUSIP 46429B697

1,374 institutional holders +7 vs Q1 2026
172,145,055172.1m shares reported held*
$16.6bnreported value*
98 new 421 added 570 reduced 93 sold out net bought ≈ $17.8m (+220.1k 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 ($37.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $96.50. Options: 1 managers hold calls ($926.0k notional), 2 hold puts ($2.0m).

Trends to Q2 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: 1,367Q2 26: 1,3741,374Q3 22Q3 23Q3 24Q3 25Q2 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
Q2 20261,374

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ3 24: 435 bought or addedQ3 24: 605 cut or sold outQ4 24: 415 bought or addedQ4 24: 595 cut or sold outQ4 24Q1 25: 518 bought or addedQ1 25: 610 cut or sold outQ2 25: 523 bought or addedQ2 25: 600 cut or sold outQ2 25Q3 25: 482 bought or addedQ3 25: 623 cut or sold outQ4 25: 504 bought or addedQ4 25: 624 cut or sold outQ4 25Q1 26: 505 bought or addedQ1 26: 670 cut or sold outQ2 26: 519 bought or addedQ2 26: 663 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024435605
Q4 2024415595
Q1 2025518610
Q2 2025523600
Q3 2025482623
Q4 2025504624
Q1 2026505670
Q2 2026519663

Calls vs puts

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

CallsPuts
$0$2.5m$5m$7.5m$10mQ3 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 1.88Q2 26 calls: $926.0kQ2 26 puts: $2.0mQ2 26P/C 2.11
Numbers
QuarterCallsPutsP/C
Q3 2025$3.0m$9.1m3.05
Q4 2025$2.6m$6.4m2.41
Q1 2026$871.8k$1.6m1.88
Q2 2026$926.0k$2.0m2.11

Biggest buyers

LPL Financial LLC Added +1,672,866+1.7m
MORGAN STANLEY Added +1,285,600+1.3m
Cambridge Investment Research Advisors, Inc. Added +850,948+850.9k
Qube Research & Technologies Ltd Added +668,246+668.2k
MARSHALL WACE, LLP Added +393,600+393.6k
RAYMOND JAMES FINANCIAL INC Added +392,078+392.1k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +332,213+332.2k
BlackRock, Inc. Added +237,654+237.7k
Millburn Ridgefield LLC /DE/ Added +212,694+212.7k
Catalyst Capital Advisors LLC Added +212,694+212.7k

Biggest sellers

TWO SIGMA INVESTMENTS, LP Reduced -862,900-862.9k
RITHOLTZ WEALTH MANAGEMENT Reduced -795,607-795.6k
AMERIPRISE FINANCIAL INC Reduced -559,240-559.2k
Caisse de depot et placement du Quebec Sold out -441,070-441.1k
BANK OF AMERICA CORP /DE/ Reduced -429,202-429.2k
Horizon Investments, LLC Reduced -360,040-360.0k
RWA WEALTH PARTNERS, LLC Reduced -236,597-236.6k
PNC Financial Services Group, Inc. Reduced -235,289-235.3k
Bank of New York Mellon Corp Reduced -232,176-232.2k
Penserra Capital Management LLC Sold out -225,590-225.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $926.0k9.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.7m17.3k shares
CITADEL ADVISORS LLC Reduced $289.4k3.0k 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.06% of their portfolio BOSTON, MA 15,350,32815.4m $1.5bn $1.5bn 0.06% Reduced -918 -918
2 RAYMOND JAMES FINANCIAL INC 0.38% of their portfolio ST. PETERSBURG, FL 14,642,75514.6m $1.4bn $1.4bn 0.38% Added +392.1k +392,078
3 MORGAN STANLEY 0.07% of their portfolio NEW YORK, NY 14,034,51014.0m $1.4bn $1.4bn 0.07% Added +1.3m +1,285,600
4 BANK OF AMERICA CORP /DE/ 0.08% of their portfolio CHARLOTTE, NC 12,345,82412.3m $1.2bn $1.2bn 0.08% Reduced -429.2k -429,202
5 LPL Financial LLC 0.17% of their portfolio FORT MILL, SC 7,953,9638.0m $767.2m $767.2m 0.17% Added +1.7m +1,672,866
6 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.77% of their portfolio PLYMOUTH, MN 4,702,6734.7m $458.5m $458.5m 0.77% Added +332.2k +332,213
7 Millburn Ridgefield LLC /DE/ 8.14% of their portfolio New York, NY 4,455,2914.5m $429.8m $429.8m 8.14% Added +212.7k +212,694
8 Catalyst Capital Advisors LLC 7.13% of their portfolio San Juan, PR 4,455,2914.5m $429.8m $429.8m 7.13% Added +212.7k +212,694
9 PNC Financial Services Group, Inc. 0.20% of their portfolio Pittsburgh, PA 4,247,4714.2m $409.7m $409.7m 0.20% Reduced -235.3k -235,289
10 ENVESTNET ASSET MANAGEMENT INC 0.09% of their portfolio Berwyn, PA 3,763,6923.8m $363.0m $363.0m 0.09% Reduced -221.4k -221,416
11 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,457,5873.5m $333.5m $333.5m 0.00% Added +237.7k +237,654
12 WELLS FARGO & COMPANY/MN 0.06% of their portfolio SAN FRANCISCO, CA 3,396,0043.4m $327.6m $327.6m 0.06% Reduced -147.3k -147,297
13 UBS Group AG 0.05% of their portfolio ZURICH, V8 3,119,3403.1m $300.9m $300.9m 0.05% Reduced -108.6k -108,568
14 Cambridge Investment Research Advisors, Inc. 0.24% of their portfolio FAIRFIELD, IA 2,187,8182.2m $211.0m $211.0m 0.24% Added +850.9k +850,948
15 Cetera Investment Advisers 0.19% of their portfolio SCHAUMBURG, IL 2,168,1652.2m $209.1m $209.1m 0.19% Added +5.7k +5,709
16 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,029,1252.0m $195.1m $195.1m 0.01% Added +163.1k +163,144
17 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 1,884,2551.9m $181.8m $181.8m 0.04% Reduced -559.2k -559,240
18 COMMONWEALTH EQUITY SERVICES, LLC 0.22% of their portfolio WALTHAM, MA 1,816,7131.8m $175.2m $175.2m 0.22% Reduced -90.1k -90,082
19 SEI INVESTMENTS CO 0.13% of their portfolio OAKS, PA 1,582,2211.6m $152.6m $152.6m 0.13% Added +22.2k +22,179
20 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,556,1421.6m $150.1m $150.1m 0.03% Reduced -2.8k -2,757
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.07% of their portfolio MILWAUKEE, WI 1,449,8791.4m $139.9m $139.9m 0.07% Reduced -71.4k -71,352
22 Beacon Pointe Advisors, LLC 0.64% of their portfolio NEWPORT BEACH, CA 1,419,5421.4m $136.9m $136.9m 0.64% Added +63.4k +63,372
23 Cerity Partners LLC 0.16% of their portfolio NEW YORK, NY 1,373,2291.4m $132.5m $132.5m 0.16% Added +47.1k +47,146
24 ASSETMARK, INC 0.22% of their portfolio CONCORD, CA 1,346,4881.3m $129.9m $129.9m 0.22% Added +3.3k +3,283
25 JONES FINANCIAL COMPANIES LLLP 0.05% of their portfolio DES PERES, MO 1,257,3381.3m $120.7m $120.7m 0.05% Added +97.8k +97,840
26 JOHNSON INVESTMENT COUNSEL INC 0.85% of their portfolio Cincinnati, OH 1,209,6871.2m $116.7m $116.7m 0.85% Reduced -67.0k -67,034
27 Geneos Wealth Management Inc. 2.32% of their portfolio ENGLEWOOD, CO 1,177,2681.2m $113.6m $113.6m 2.32% Added +33.7k +33,711
28 Focus Partners Wealth 0.11% of their portfolio ST LOUIS, MO 1,114,2521.1m $107.5m $107.5m 0.11% Reduced -74.2k -74,201
29 MERCER GLOBAL ADVISORS INC /ADV 0.13% of their portfolio DENVER, CO 1,067,9761.1m $103.0m $103.0m 0.13% Reduced -9.9k -9,913
30 Horizon Investments, LLC 1.00% of their portfolio Charlotte, NC 943,459943.5k $91.0m $91.0m 1.00% Reduced -360.0k -360,040
31 Mariner, LLC 0.09% of their portfolio Overland Park, KS 928,271928.3k $89.5m $89.5m 0.09% Reduced -147.0k -146,972
32 OSAIC HOLDINGS, INC. 0.10% of their portfolio SCOTTSDALE, AZ 908,696908.7k $87.7m $87.7m 0.10% Added +90.0k +89,951
33 Russell Investments Group, Ltd. 0.07% of their portfolio Seattle, WA 851,515851.5k $82.1m $82.1m 0.07% Reduced -2.3k -2,293
34 SECURIAN ASSET MANAGEMENT, INC 2.91% of their portfolio ST PAUL, MN 837,287837.3k $80.9m $80.9m 2.91% Unchanged
35 Brookstone Capital Management 0.79% of their portfolio WHEATON, IL 818,996819.0k $79.0m $79.0m 0.79% Reduced -74.6k -74,618
36 CAPTRUST FINANCIAL ADVISORS 0.11% of their portfolio RALEIGH, NC 725,620725.6k $70.0m $70.0m 0.11% Added +10.2k +10,229
37 Qube Research & Technologies Ltd 0.08% of their portfolio LONDON, X0 721,422721.4k $69.6m $69.6m 0.08% Added +668.2k +668,246
38 NewEdge Advisors, LLC 0.20% of their portfolio NEW ORLEANS, LA 706,484706.5k $68.1m $68.1m 0.20% Added +88.2k +88,157
39 MAI Capital Management 0.25% of their portfolio INDEPENDENCE, OH 686,315686.3k $66.2m $66.2m 0.25% Reduced -12.1k -12,078
40 US BANCORP \DE\ 0.07% of their portfolio MINNEAPOLIS, MN 673,975674.0k $65.0m $65.0m 0.07% Reduced -33.7k -33,740
41 HighTower Advisors, LLC 0.06% of their portfolio CHICAGO, IL 668,232668.2k $64.5m $64.5m 0.06% Reduced -33.7k -33,718
42 Janney Montgomery Scott LLC 0.12% of their portfolio PHILADELPHIA, PA 627,522627.5k $60.5m $60.5m 0.12% Added +10.0k +10,042
43 Private Advisor Group, LLC 0.27% of their portfolio MORRISTOWN, NJ 600,897600.9k $58.0m $58.0m 0.27% Added +108.2k +108,171
44 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 595,110595.1k $57.4m $57.4m 0.05% Reduced -61.2k -61,196
45 Integrated Wealth Concepts LLC 0.28% of their portfolio WALTHAM, MA 586,705586.7k $56.6m $56.6m 0.28% Added +160.3k +160,327
46 Steward Partners Investment Advisory, LLC 0.27% of their portfolio STAMFORD, CT 558,307558.3k $53.9m $53.9m 0.27% Reduced -76.1k -76,054
47 MARSHALL WACE, LLP 0.04% of their portfolio LONDON, X0 497,800497.8k $48.0m $48.0m 0.04% Added +393.6k +393,600
48 Facet Wealth, Inc. 0.65% of their portfolio WEST PALM BEACH, FL 467,953468.0k $45.1m $45.1m 0.65% Added +2.0k +1,968
49 MML INVESTORS SERVICES, LLC 0.09% of their portfolio SPRINGFIELD, MA 440,532440.5k $42.5m $42.5m 0.09% Added +74.7k +74,698
50 High Probability Advisors, LLC 4.30% of their portfolio Pittsford, NY 417,169417.2k $40.2m $40.2m 4.30% Added +23.5k +23,512
51 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 411,404411.4k $39.7m $39.7m 0.01% Added +20.0k +19,974
52 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 387,700387.7k $37.4m $37.4m 0.03% Reduced -862.9k -862,900
53 GLENMEDE TRUST CO NA 0.16% of their portfolio PHILADELPHIA, PA 386,309386.3k $37.3m $37.3m 0.16% Reduced -17.9k -17,851
54 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 375,016375.0k $36.2m $36.2m 0.04% Added +32.3k +32,329
55 Symmetry Partners, LLC 1.76% of their portfolio GLASTONBURY, CT 357,531357.5k $34.5m $34.5m 1.76% Added +24.6k +24,607
56 Klingman & Associates, LLC 1.46% of their portfolio New York, NY 354,842354.8k $34.2m $34.2m 1.46% Reduced -6.8k -6,756
57 ARS Wealth Advisors Group, LLC 2.66% of their portfolio St. Petersburg, FL 352,667352.7k $34.0m $34.0m 2.66% Reduced -14.0k -13,961
58 Lineweaver Wealth Advisors, LLC 3.80% of their portfolio VALLEY VIEW, OH 330,997331.0k $31.9m $31.9m 3.80% Added +13.8k +13,822
59 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 329,372329.4k $31.8m $31.8m 0.02% Added +1.9k +1,856
60 Kestra Advisory Services, LLC 0.10% of their portfolio AUSTIN, TX 306,368306.4k $29.6m $29.6m 0.10% Reduced -23.3k -23,300
61 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,365300.4k $29.0m $29.0m 0.00% Reduced -232.2k -232,176
62 GDS Wealth Management 1.33% of their portfolio FLOWER MOUND, TX 289,589289.6k $27.9m $27.9m 1.33% Added +11.4k +11,440
63 KEYBANK NATIONAL ASSOCIATION/OH 0.09% of their portfolio BROOKLYN, OH 285,277285.3k $27.5m $27.5m 0.09% Reduced -15.7k -15,744
64 Vestcor Inc 0.64% of their portfolio FREDERICTON, A3 267,168267.2k $25.8m $25.8m 0.64% Added +27.6k +27,617
65 Rehmann Capital Advisory Group 1.14% of their portfolio LANSING, MI 257,439257.4k $24.8m $24.8m 1.14% Reduced -71.1k -71,116
66 PARK AVENUE SECURITIES LLC 0.15% of their portfolio NEW YORK, NY 256,280256.3k $24.7m $24.7m 0.15% Reduced -10.6k -10,647
67 Meridian Wealth Advisors, LLC 2.80% of their portfolio AUSTIN, TX 255,013255.0k $24.6m $24.6m 2.80% Added +18.2k +18,238
68 Cornerstone Wealth Management, LLC 1.05% of their portfolio ST. PETERS, MO 253,692253.7k $24.5m $24.5m 1.05% Reduced -2.4k -2,362
69 Lido Advisors, LLC 0.09% of their portfolio Los Angeles, CA 251,132251.1k $24.2m $24.2m 0.09% Added +1.9k +1,932
70 Adaptive Financial Consulting, LLC 8.15% of their portfolio BEACHWOOD, OH 241,162241.2k $23.3m $23.3m 8.15% Added +5.6k +5,583
71 Cassia Capital Partners, LLC 11.08% of their portfolio WINSTON SALEM, NC 237,046237.0k $22.9m $22.9m 11.08% Reduced -2.0k -1,973
72 Well Done, LLC 2.99% of their portfolio HOLLAND, MI 230,337230.3k $22.2m $22.2m 2.99% Added +2.2k +2,168
73 Pacific Center for Financial Services 4.92% of their portfolio DANVILLE, CA 228,692228.7k $22.1m $22.1m 4.92% Reduced -2.3k -2,341
74 CITIZENS FINANCIAL GROUP INC/RI 0.27% of their portfolio PROVIDENCE, RI 228,133228.1k $22.0m $22.0m 0.27% Reduced -6.8k -6,821
75 Lester Murray Antman dba SimplyRich 5.12% of their portfolio CARLSBAD, CA 226,613226.6k $21.9m $21.9m 5.12% Added +8.7k +8,670
76 SAGESPRING WEALTH PARTNERS, LLC 0.33% of their portfolio FRANKLIN, TN 224,652224.7k $21.7m $21.7m 0.33% Reduced -18.5k -18,521
77 &PARTNERS 0.09% of their portfolio NASHVILLE, TN 224,607224.6k $21.8m $21.8m 0.09% Added +20.9k +20,914
78 Capital Advisors, Ltd. LLC 2.18% of their portfolio SHAKER HEIGHTS, OH 224,182224.2k $21.6m $21.6m 2.18% Reduced -9.5k -9,505
79 OneDigital Investment Advisors LLC 0.18% of their portfolio OVERLAND PARK, KS 223,733223.7k $21.6m $21.6m 0.18% Reduced -3.0k -2,983
80 BARON SILVER STEVENS FINANCIAL ADVISORS, LLC 2.70% of their portfolio Boca Raton, FL 221,195221.2k $21.3m $21.3m 2.70% Added +5.1k +5,071
81 CIBC WORLD MARKET INC. 0.04% of their portfolio TORONTO, A6 219,776219.8k $21.2m $21.2m 0.04% Added +209.6k +209,554
82 Journey Advisory Group, LLC 1.62% of their portfolio COVINGTON, KY 219,463219.5k $21.2m $21.2m 1.62% Added +881 +881
83 Sanctuary Advisors, LLC 0.10% of their portfolio INDIANAPOLIS, IN 215,785215.8k $20.8m $20.8m 0.10% Reduced -25 -25
84 ANDERSON HOAGLAND & CO 1.61% of their portfolio ST LOUIS, MO 213,114213.1k $20.6m $20.6m 1.61% Added +2.9k +2,886
85 Dynasty Wealth Management, LLC 0.14% of their portfolio ST. PETERSBURG, FL 199,658199.7k $19.3m $19.3m 0.14% Reduced -12.8k -12,801
86 CHOREO, LLC 0.21% of their portfolio ROCKFORD, IL 198,781198.8k $19.2m $19.2m 0.21% Reduced -7.7k -7,672
87 Wealth Advisors of Iowa, LLC 5.16% of their portfolio WEST DES MOINES, IA 197,413197.4k $19.0m $19.0m 5.16% Added +82 +82
88 Stratos Wealth Partners, LTD. 0.19% of their portfolio BEACHWOOD, OH 196,227196.2k $18.9m $18.9m 0.19% Added +9.1k +9,137
89 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 195,770195.8k $18.9m $18.9m 0.03% Reduced -4.3k -4,285
90 BARRETT & COMPANY, INC. 5.18% of their portfolio PROVIDENCE, RI 191,781191.8k $18.5m $18.5m 5.18% Added +13.8k +13,794
91 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.10% of their portfolio IRVING, TX 189,103189.1k $18.2m $18.2m 0.10% Reduced -2.2k -2,177
92 Merit Financial Group, LLC 0.11% of their portfolio ALPHARETTA, GA 183,663183.7k $17.7m $17.7m 0.11% Added +10.3k +10,257
93 Darrow Company, Inc. 6.74% of their portfolio Needham, MA 180,315180.3k $17.4m $17.4m 6.74% Added +783 +783
94 Aspen Private Advisors, LLC 17.07% of their portfolio SIOUX FALLS, SD 176,422176.4k $17.0m $17.0m 17.07% First filing
95 Equitable Holdings, Inc. 0.10% of their portfolio NEW YORK, NY 175,596175.6k $16.9m $16.9m 0.10% Reduced -16.2k -16,203
96 WALLED LAKE PLANNING & WEALTH MANAGEMENT, LLC 4.26% of their portfolio HIGHLAND PARK, IL 174,990175.0k $16.9m $16.9m 4.26% Added +2.9k +2,889
97 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 174,126174.1k $16.8m $16.8m 0.01% Reduced -26.7k -26,675
98 Summit Wealth Partners, LLC 2.39% of their portfolio Orlando, FL 173,650173.7k $16.8m $16.8m 2.39% Reduced -8.8k -8,802
99 Asset Advisors Investment Management, LLC 1.52% of their portfolio AUGUSTA, GA 171,637171.6k $16.6m $16.6m 1.52% Reduced -2.8k -2,750
100 Leelyn Smith, LLC 1.95% of their portfolio GENEVA, IL 165,959166.0k $16.0m $16.0m 1.95% Added +1.6k +1,623