Vault-13

ISHARES TR QUAL

MSCI USA QLT FCT · ETP · CUSIP 46432F339

1,475 institutional holders -15 vs Q4 2024
251,217,644251.2m shares reported held*
$42.9bnreported value*
83 new 701 added 472 reduced 86 sold out net bought ≈ $921.6m (+5.4m 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 ($119.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $170.84. Options: 2 managers hold calls ($3.9m notional), 3 hold puts ($1.1m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 807Q4 22: 825Q1 23: 918Q2 23: 1,008Q3 23: 1,049Q4 23: 1,170Q1 24: 1,248Q2 24: 1,297Q3 24: 1,373Q4 24: 1,490Q1 25: 1,4751,475Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022807
Q4 2022825
Q1 2023918
Q2 20231,008
Q3 20231,049
Q4 20231,170
Q1 20241,248
Q2 20241,297
Q3 20241,373
Q4 20241,490
Q1 20251,475

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 23: 561 bought or addedQ2 23: 343 cut or sold outQ3 23: 429 bought or addedQ3 23: 503 cut or sold outQ3 23Q4 23: 614 bought or addedQ4 23: 409 cut or sold outQ1 24: 653 bought or addedQ1 24: 488 cut or sold outQ1 24Q2 24: 722 bought or addedQ2 24: 435 cut or sold outQ3 24: 733 bought or addedQ3 24: 459 cut or sold outQ3 24Q4 24: 717 bought or addedQ4 24: 518 cut or sold outQ1 25: 784 bought or addedQ1 25: 558 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023561343
Q3 2023429503
Q4 2023614409
Q1 2024653488
Q2 2024722435
Q3 2024733459
Q4 2024717518
Q1 2025784558

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ2 24 calls: $3.9mQ2 24 puts: $1.2mQ2 24P/C 0.32Q3 24 calls: $2.9mQ3 24 puts: $896.5kQ3 24P/C 0.31Q4 24 calls: $4.2mQ4 24 puts: $1.3mQ4 24P/C 0.32Q1 25 calls: $3.9mQ1 25 puts: $1.1mQ1 25P/C 0.29
Numbers
QuarterCallsPutsP/C
Q2 2024$3.9m$1.2m0.32
Q3 2024$2.9m$896.5k0.31
Q4 2024$4.2m$1.3m0.32
Q1 2025$3.9m$1.1m0.29

Biggest buyers

ENVESTNET ASSET MANAGEMENT INC Added +2,711,718+2.7m
LPL Financial LLC Added +1,318,823+1.3m
Kestra Investment Management, LLC Added +977,109+977.1k
Focus Partners Wealth Added +684,798+684.8k
Orgel Wealth Management, LLC Added +601,089+601.1k
MORGAN STANLEY Added +460,860+460.9k
JPMORGAN CHASE & CO Added +380,904+380.9k
MML INVESTORS SERVICES, LLC Added +342,816+342.8k
AMERIPRISE FINANCIAL INC Added +324,478+324.5k
Merit Financial Group, LLC Added +316,297+316.3k

Biggest sellers

Caisse de depot et placement du Quebec Sold out -1,962,000-2.0m
Horizon Investments, LLC Reduced -1,076,746-1.1m
Bank of New York Mellon Corp Reduced -763,982-764.0k
Envestnet Portfolio Solutions, Inc. Reduced -662,253-662.3k
FMR LLC Reduced -629,221-629.2k
Connecticut Wealth Management, LLC Reduced -500,371-500.4k
M&T Bank Corp Reduced -453,452-453.5k
CWM, LLC Reduced -436,783-436.8k
KEYBANK NATIONAL ASSOCIATION/OH Reduced -408,672-408.7k
PNC Financial Services Group, Inc. Reduced -382,874-382.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.8m16.2k shares
CITADEL ADVISORS LLC Reduced $1.1m6.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $854.5k5.0k shares
CITADEL ADVISORS LLC Added $239.2k1.4k shares
Quaker Wealth Management, LLC First filing $16.7k98 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 +1.1 pts · filed 2026-08-07 10.4% +1.1 pts 22.0m≈ $4.8bn 2026-08-07

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 1.75% of their portfolio Berwyn, PA 31,853,46931.9m $5.4bn $5.4bn 1.75% Added +2.7m +2,711,718
2 LPL Financial LLC 1.21% of their portfolio FORT MILL, SC 18,186,64318.2m $3.1bn $3.1bn 1.21% Added +1.3m +1,318,823
3 FMR LLC 0.17% of their portfolio BOSTON, MA 15,512,07915.5m $2.7bn $2.7bn 0.17% Reduced -629.2k -629,221
4 MORGAN STANLEY 0.12% of their portfolio NEW YORK, NY 9,554,2319.6m $1.6bn $1.6bn 0.12% Added +460.9k +460,860
5 BANK OF AMERICA CORP /DE/ 0.11% of their portfolio CHARLOTTE, NC 7,478,8037.5m $1.3bn $1.3bn 0.11% Reduced -242.2k -242,234
6 PNC Financial Services Group, Inc. 0.65% of their portfolio Pittsburgh, PA 7,296,5247.3m $1.2bn $1.2bn 0.65% Reduced -382.9k -382,874
7 JPMORGAN CHASE & CO 0.09% of their portfolio NEW YORK, NY 6,961,4507.0m $1.2bn $1.2bn 0.09% Added +380.9k +380,904
8 WELLS FARGO & COMPANY/MN 0.22% of their portfolio SAN FRANCISCO, CA 5,399,1055.4m $922.7m $922.7m 0.22% Added +49.7k +49,666
9 AMERIPRISE FINANCIAL INC 0.24% of their portfolio MINNEAPOLIS, MN 5,143,3915.1m $878.9m $878.9m 0.24% Added +324.5k +324,478
10 BlackRock, Inc. 0.02% of their portfolio New York, NY 4,842,7874.8m $827.6m $827.6m 0.02% Added +239.4k +239,375
11 UBS Group AG 0.16% of their portfolio ZURICH, V8 4,332,5464.3m $740.4m $740.4m 0.16% Reduced -241.9k -241,917
12 KEYBANK NATIONAL ASSOCIATION/OH 2.43% of their portfolio BROOKLYN, OH 3,555,7123.6m $607.6m $607.6m 2.43% Reduced -408.7k -408,672
13 MML INVESTORS SERVICES, LLC 1.94% of their portfolio SPRINGFIELD, MA 3,410,0063.4m $582.7m $582.7m 1.94% Added +342.8k +342,816
14 M&T Bank Corp 2.09% of their portfolio BUFFALO, NY 3,351,9483.4m $572.8m $572.8m 2.09% Reduced -453.5k -453,452
15 CWM, LLC 2.26% of their portfolio OMAHA, NE 3,322,9093.3m $567.9m $567.9m 2.26% Reduced -436.8k -436,783
16 BNP PARIBAS FINANCIAL MARKETS 0.35% of their portfolio PARIS, I0 2,705,1082.7m $462.3m $462.3m 0.35% First filing
17 Cerity Partners LLC 0.94% of their portfolio NEW YORK, NY 2,689,9342.7m $459.7m $459.7m 0.94% Reduced -1.0k -1,022
18 Envestnet Portfolio Solutions, Inc. 1.67% of their portfolio BERWYN, PA 2,556,7122.6m $436.9m $436.9m 1.67% Reduced -662.3k -662,253
19 PARK AVENUE SECURITIES LLC 5.23% of their portfolio NEW YORK, NY 2,489,6692.5m $425.5m $425.5m 5.23% Added +299.5k +299,548
20 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.33% of their portfolio MILWAUKEE, WI 2,370,3932.4m $405.1m $405.1m 0.33% Reduced -60.5k -60,472
21 Blue Trust, Inc. 5.11% of their portfolio BRENTWOOD, TN 2,333,5552.3m $398.8m $398.8m 5.11% Added +132.6k +132,597
22 Facet Wealth, Inc. 10.35% of their portfolio WEST PALM BEACH, FL 2,328,4892.3m $399.8m $399.8m 10.35% Reduced -69.0k -68,972
23 Cetera Investment Advisers 0.71% of their portfolio SCHAUMBURG, IL 2,147,8992.1m $367.1m $367.1m 0.71% Added +134.4k +134,433
24 RAYMOND JAMES FINANCIAL INC 0.13% of their portfolio ST. PETERSBURG, FL 1,968,6922.0m $336.4m $336.4m 0.13% Added +107.7k +107,664
25 COMMONWEALTH EQUITY SERVICES, LLC 0.47% of their portfolio WALTHAM, MA 1,939,9001.9m $331.5m $331.5m 0.47% Added +140.3k +140,296
26 Focus Partners Wealth 0.81% of their portfolio ST LOUIS, MO 1,891,5221.9m $323.2m $323.2m 0.81% Added +684.8k +684,798
27 Orgel Wealth Management, LLC 8.36% of their portfolio ALTOONA, WI 1,883,9171.9m $321.9m $321.9m 8.36% Added +601.1k +601,089
28 ROYAL BANK OF CANADA 0.07% of their portfolio TORONTO, A6 1,837,8381.8m $314.1m $314.1m 0.07% Added +109.0k +108,955
29 STIFEL FINANCIAL CORP 0.32% of their portfolio ST. LOUIS, MO 1,759,8781.8m $300.8m $300.8m 0.32% Added +144.9k +144,914
30 Kestra Investment Management, LLC 4.37% of their portfolio AUSTIN, TX 1,577,2341.6m $253.4m $253.4m 4.37% Added +977.1k +977,109
31 Janney Montgomery Scott LLC 0.75% of their portfolio PHILADELPHIA, PA 1,548,7651.5m $264.7m $264.7m 0.75% Added +77.4k +77,378
32 Haverford Trust Co 2.62% of their portfolio Radnor, PA 1,523,9301.5m $260.4m $260.4m 2.62% Added +141.4k +141,446
33 HighTower Advisors, LLC 0.33% of their portfolio CHICAGO, IL 1,436,3121.4m $245.5m $245.5m 0.33% Added +25.6k +25,603
34 Bank of New York Mellon Corp 0.05% of their portfolio NEW YORK, NY 1,382,1021.4m $236.2m $236.2m 0.05% Reduced -764.0k -763,982
35 OSAIC HOLDINGS, INC. 0.50% of their portfolio SCOTTSDALE, AZ 1,314,7031.3m $224.8m $224.8m 0.50% Reduced -173.6k -173,614
36 MERCER GLOBAL ADVISORS INC /ADV 0.51% of their portfolio DENVER, CO 1,289,5841.3m $220.4m $220.4m 0.51% Reduced -51.7k -51,672
37 Wharton Business Group, LLC 9.68% of their portfolio MALVERN, PA 1,251,3881.3m $214.0m $214.0m 9.68% Reduced -3.1k -3,106
38 Composition Wealth, LLC 4.28% of their portfolio LOS ANGELES, CA 1,250,0621.3m $213.6m $213.6m 4.28% Added +26.2k +26,182
39 SCS Capital Management LLC 2.64% of their portfolio BOSTON, MA 1,212,3031.2m $207.2m $207.2m 2.64% Added +286.2k +286,200
40 OneDigital Investment Advisors LLC 2.34% of their portfolio OVERLAND PARK, KS 1,156,5811.2m $197.6m $197.6m 2.34% Added +109.7k +109,730
41 NewEdge Advisors, LLC 1.15% of their portfolio NEW ORLEANS, LA 1,128,5791.1m $192.9m $192.9m 1.15% Added +171.2k +171,220
42 Integrated Wealth Concepts LLC 2.22% of their portfolio WALTHAM, MA 1,113,4031.1m $190.3m $190.3m 2.22% Reduced -33.8k -33,761
43 Connecticut Wealth Management, LLC 9.84% of their portfolio FARMINGTON, CT 1,100,1091.1m $188.0m $188.0m 9.84% Reduced -500.4k -500,371
44 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 4.40% of their portfolio Seattle, WA 997,825997.8k $170.5m $170.5m 4.40% Added +39.5k +39,476
45 Sanctuary Advisors, LLC 1.08% of their portfolio INDIANAPOLIS, IN 897,346897.3k $153.3m $153.3m 1.08% Added +113.8k +113,757
46 JB Capital LLC 7.31% of their portfolio WETHERSFIELD, CT 776,355776.4k $132.7m $132.7m 7.31% Added +158.8k +158,806
47 Bluespring Wealth Management, LLC 13.15% of their portfolio AUSTIN, TX 755,102755.1k $129.0m $129.0m 13.15% Added +11.0k +10,996
48 Foundations Investment Advisors, LLC 2.37% of their portfolio PHOENIX, AZ 751,386751.4k $128.4m $128.4m 2.37% Added +58.4k +58,444
49 SYNOVUS FINANCIAL CORP 1.57% of their portfolio Columbus, GA 711,004711.0k $121.5m $121.5m 1.57% Added +308.8k +308,787
50 Foster Group, Inc. 4.31% of their portfolio WEST DES MOINES, IA 674,001674.0k $115.2m $115.2m 4.31% Added +16.7k +16,730
51 Prime Capital Investment Advisors, LLC 1.33% of their portfolio OVERLAND PARK, KS 666,512666.5k $113.9m $113.9m 1.33% Added +190.8k +190,781
52 Corient Private Wealth LP 0.18% of their portfolio MIAMI, FL 643,600643.6k $110.0m $110.0m 0.18% Reduced -30.4k -30,446
53 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.93% of their portfolio IRVING, TX 634,627634.6k $108.5m $108.5m 0.93% Added +77.0k +77,047
54 Cambridge Investment Research Advisors, Inc. 0.36% of their portfolio FAIRFIELD, IA 630,590630.6k $107.8m $107.8m 0.36% Added +56.5k +56,461
55 TWO SIGMA INVESTMENTS, LP 0.22% of their portfolio NEW YORK, NY 601,000601.0k $102.7m $102.7m 0.22% Added +18.3k +18,300
56 Bogart Wealth, LLC 4.82% of their portfolio MCLEAN, VA 597,111597.1k $102.0m $102.0m 4.82% Reduced -2.2k -2,176
57 Thrivent Financial for Lutherans 0.24% of their portfolio Minneapolis, MN 593,865593.9k $107.7m $107.7m 0.24% Reduced -42.8k -42,779
58 Sage Mountain Advisors LLC 7.03% of their portfolio ATLANTA, GA 558,227558.2k $95.4m $95.4m 7.03% Reduced -29.9k -29,914
59 D.A. DAVIDSON & CO. 0.75% of their portfolio GREAT FALLS, MT 545,008545.0k $93.1m $93.1m 0.75% Added +39.3k +39,347
60 Obermeyer Wealth Partners 4.97% of their portfolio ASPEN, CO 544,691544.7k $93.1m $93.1m 4.97% Added +17.2k +17,241
61 Kestra Advisory Services, LLC 0.45% of their portfolio AUSTIN, TX 541,903541.9k $92.6m $92.6m 0.45% Reduced -29.2k -29,168
62 Dynasty Wealth Management, LLC 1.51% of their portfolio ST. PETERSBURG, FL 531,792531.8k $90.9m $90.9m 1.51% Added +7.8k +7,846
63 Fragasso Financial Advisors Inc 6.74% of their portfolio SEWICKLEY, PA 531,434531.4k $90.8m $90.8m 6.74% Added +132.7k +132,664
64 TIAA TRUST, NATIONAL ASSOCIATION 0.28% of their portfolio CHARLOTTE, NC 521,293521.3k $89.1m $89.1m 0.28% Reduced -105.9k -105,915
65 UMB Bank, n.a. 1.47% of their portfolio Kansas City, MO 521,076521.1k $89.0m $89.0m 1.47% Added +90.7k +90,744
66 Cresset Asset Management, LLC 0.44% of their portfolio Chicago, IL 518,635518.6k $88.6m $88.6m 0.44% Added +1.5k +1,520
67 Mariner, LLC 0.15% of their portfolio Overland Park, KS 513,504513.5k $87.7m $87.7m 0.15% Added +44.4k +44,359
68 Merit Financial Group, LLC 1.31% of their portfolio ALPHARETTA, GA 512,286512.3k $87.5m $87.5m 1.31% Added +316.3k +316,297
69 Clearstead Advisors, LLC 1.34% of their portfolio CLEVELAND, OH 505,727505.7k $86.4m $86.4m 1.34% Added +9.8k +9,755
70 Atria Wealth Solutions, Inc. 1.04% of their portfolio NEW YORK, NY 503,325503.3k $86.0m $86.0m 1.04% Added +13.2k +13,160
71 AE Wealth Management LLC 0.72% of their portfolio TOPEKA, KS 499,394499.4k $85.3m $85.3m 0.72% Added +12.1k +12,112
72 Private Advisor Group, LLC 0.51% of their portfolio MORRISTOWN, NJ 496,473496.5k $84.8m $84.8m 0.51% Added +33.4k +33,396
73 SAX WEALTH ADVISORS, LLC 6.05% of their portfolio PARSIPPANY, NJ 494,576494.6k $84.5m $84.5m 6.05% Added +29.1k +29,088
74 JOHNSON INVESTMENT COUNSEL INC 0.81% of their portfolio Cincinnati, OH 491,753491.8k $84.0m $84.0m 0.81% Added +14.3k +14,280
75 HOWARD FINANCIAL SERVICES, LTD. 11.28% of their portfolio DALLAS, TX 484,702484.7k $82.8m $82.8m 11.28% Added +29.7k +29,747
76 Savant Capital, LLC 0.70% of their portfolio ROCKFORD, IL 482,169482.2k $82.4m $82.4m 0.70% Reduced -12.8k -12,772
77 Equitable Holdings, Inc. 0.72% of their portfolio NEW YORK, NY 444,989445.0k $76.0m $76.0m 0.72% Reduced -12.9k -12,919
78 Austin Private Wealth, LLC 6.76% of their portfolio Austin, TX 440,233440.2k $75.2m $75.2m 6.76% Added +15.9k +15,894
79 Cable Hill Partners, LLC 7.10% of their portfolio PORTLAND, OR 429,606429.6k $72.8m $72.8m 7.10% Added +11.8k +11,790
80 CAPTRUST FINANCIAL ADVISORS 0.18% of their portfolio RALEIGH, NC 428,247428.2k $73.2m $73.2m 0.18% Added +21.4k +21,353
81 PINNACLE ASSOCIATES LTD 1.05% of their portfolio NEW YORK, NY 419,543419.5k $71.7m $71.7m 1.05% Added +6.8k +6,816
82 Baker Avenue Asset Management, LP 2.23% of their portfolio SAN FRANCISCO, CA 415,682415.7k $71.0m $71.0m 2.23% Reduced -16.7k -16,672
83 Advocacy Wealth Management, LLC 4.82% of their portfolio ATLANTA, GA 413,856413.9k $70.7m $70.7m 4.82% Added +46.7k +46,687
84 US BANCORP \DE\ 0.09% of their portfolio MINNEAPOLIS, MN 410,886410.9k $70.2m $70.2m 0.09% Added +24.5k +24,486
85 SACHEM HILL LLC 12.90% of their portfolio DENVER, CO 384,103384.1k $65.6m $65.6m 12.90% Reduced -11.9k -11,929
86 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 374,199374.2k $63.9m $63.9m 0.02% Added +7.8k +7,767
87 NorthCoast Asset Management LLC 0.32% of their portfolio STAMFORD, CT 372,298372.3k $63.6m $63.6m 0.32% Added +51.2k +51,221
88 Gradient Investments LLC 1.28% of their portfolio ARDEN HILLS, MN 372,215372.2k $63.6m $63.6m 1.28% Added +32.7k +32,676
89 TRUIST FINANCIAL CORP 0.10% of their portfolio CHARLOTTE, NC 371,527371.5k $63.5m $63.5m 0.10% Added +31.2k +31,184
90 SAGESPRING WEALTH PARTNERS, LLC 1.58% of their portfolio FRANKLIN, TN 367,208367.2k $62.8m $62.8m 1.58% Added +16.2k +16,188
91 Summit Trail Advisors, LLC 2.06% of their portfolio NEW YORK, NY 365,040365.0k $62.4m $62.4m 2.06% Added +15.6k +15,581
92 LANDAAS & CO /WI /ADV 16.71% of their portfolio MILWAUKEE, WI 353,588353.6k $60.4m $60.4m 16.71% Added +11.4k +11,367
93 CAMBRIDGE ASSOCIATES LLC /MA/ /ADV 1.69% of their portfolio BOSTON, MA 343,760343.8k $58.7m $58.7m 1.69% Added +62.1k +62,101
94 Wilmington Savings Fund Society, FSB 1.09% of their portfolio WILMINGTON, DE 340,623340.6k $58.2m $58.2m 1.09% Added +5.2k +5,228
95 Valence8 US LP 27.22% of their portfolio Cambridge, MA 339,764339.8k $58.1m $58.1m 27.22% Added +12.9k +12,854
96 Financial Advisors, LLC 11.30% of their portfolio ANDOVER, MA 335,246335.2k $57.3m $57.3m 11.30% Added +818 +818
97 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.11% of their portfolio PLYMOUTH, MN 334,343334.3k $57.1m $57.1m 0.11% Added +15.6k +15,595
98 Sharkey, Howes & Javer 7.42% of their portfolio DENVER, CO 303,689303.7k $51.9m $51.9m 7.42% Added +2.8k +2,777
99 Modern Wealth Management, LLC 1.65% of their portfolio KANSAS CITY, MO 302,519302.5k $51.7m $51.7m 1.65% Added +122.0k +122,035
100 Atria Investments, Inc 0.65% of their portfolio Charlotte, NC 297,176297.2k $50.8m $50.8m 0.65% Added +45.9k +45,939