Vault-13

ISHARES TR QUAL

MSCI USA QLT FCT · ETP · CUSIP 46432F339

1,654 institutional holders +22 vs Q4 2025
211,733,495211.7m shares reported held*
$40.1bnreported value*
102 new 629 added 636 reduced 77 sold out net bought ≈ $717.7m (+6.0m 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 ($128.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $189.47. Options: 3 managers hold calls ($3.0m notional), 3 hold puts ($40.3m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 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: 1,475Q2 25: 1,511Q3 25: 1,521Q4 25: 1,632Q1 26: 1,6541,654Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q2 20251,511
Q3 20251,521
Q4 20251,632
Q1 20261,654

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 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 25Q2 25: 780 bought or addedQ2 25: 577 cut or sold outQ3 25: 580 bought or addedQ3 25: 770 cut or sold outQ3 25Q4 25: 534 bought or addedQ4 25: 815 cut or sold outQ1 26: 731 bought or addedQ1 26: 713 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024722435
Q3 2024733459
Q4 2024717518
Q1 2025784558
Q2 2025780577
Q3 2025580770
Q4 2025534815
Q1 2026731713

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ2 25 calls: $3.3mQ2 25 puts: $2.5mQ2 25P/C 0.78Q3 25 calls: $4.4mQ3 25 puts: $2.6mQ3 25P/C 0.59Q4 25 calls: $2.0mQ4 25 puts: $1.7mQ4 25P/C 0.83Q1 26 calls: $3.0mQ1 26 puts: $40.3mQ1 26P/C 13.64
Numbers
QuarterCallsPutsP/C
Q2 2025$3.3m$2.5m0.78
Q3 2025$4.4m$2.6m0.59
Q4 2025$2.0m$1.7m0.83
Q1 2026$3.0m$40.3m13.64

Biggest buyers

Gallagher Fiduciary Advisors, LLC Added +2,583,484+2.6m
BANK OF AMERICA CORP /DE/ Added +2,357,971+2.4m
Richard Bernstein Advisors LLC Added +1,780,967+1.8m
AMERIPRISE FINANCIAL INC Added +1,466,964+1.5m
ENVESTNET ASSET MANAGEMENT INC Added +1,038,079+1.0m
FMR LLC Added +502,387+502.4k
Cerity Partners LLC Added +472,802+472.8k
AdvisorShares Investments LLC New +365,784+365.8k
Beacon Pointe Advisors, LLC Added +316,548+316.5k
Integrated Wealth Concepts LLC Added +260,443+260.4k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -697,447-697.4k
Corient Private Wealth LP Reduced -686,079-686.1k
MML INVESTORS SERVICES, LLC Reduced -433,005-433.0k
Fragasso Financial Advisors Inc Reduced -432,230-432.2k
CWM, LLC Reduced -356,585-356.6k
TWO SIGMA INVESTMENTS, LP Reduced -317,500-317.5k
PNC Financial Services Group, Inc. Reduced -307,440-307.4k
TIAA TRUST, NATIONAL ASSOCIATION Reduced -291,477-291.5k
Kestra Advisory Services, LLC Reduced -284,213-284.2k
JPMORGAN CHASE & CO Reduced -266,275-266.3k

Biggest calls

CITADEL ADVISORS LLC Added $1.7m8.8k shares
JANE STREET GROUP, LLC Added $863.1k4.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Unchanged $402.8k2.1k shares

Biggest puts

JANE STREET GROUP, LLC New $38.4m200.1k shares
CITADEL ADVISORS LLC Added $1.1m5.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $786.4k4.1k 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.18% of their portfolio BOSTON, MA 18,079,58918.1m $3.5bn $3.5bn 0.18% Added +502.4k +502,387
2 ENVESTNET ASSET MANAGEMENT INC 0.91% of their portfolio Berwyn, PA 17,774,16117.8m $3.4bn $3.4bn 0.91% Added +1.0m +1,038,079
3 LPL Financial LLC 0.82% of their portfolio FORT MILL, SC 16,156,37216.2m $3.1bn $3.1bn 0.82% Reduced -19.7k -19,728
4 MORGAN STANLEY 0.10% of their portfolio NEW YORK, NY 9,065,6449.1m $1.7bn $1.7bn 0.10% Added +96.3k +96,284
5 BANK OF AMERICA CORP /DE/ 0.12% of their portfolio CHARLOTTE, NC 8,741,6418.7m $1.7bn $1.7bn 0.12% Added +2.4m +2,357,971
6 PNC Financial Services Group, Inc. 0.68% of their portfolio Pittsburgh, PA 6,138,1516.1m $1.2bn $1.2bn 0.68% Reduced -307.4k -307,440
7 AMERIPRISE FINANCIAL INC 0.24% of their portfolio MINNEAPOLIS, MN 5,422,6015.4m $1.0bn $1.0bn 0.24% Added +1.5m +1,466,964
8 JPMORGAN CHASE & CO 0.05% of their portfolio NEW YORK, NY 4,184,7914.2m $780.4m $780.4m 0.05% Reduced -266.3k -266,275
9 Cerity Partners LLC 1.09% of their portfolio NEW YORK, NY 4,000,4924.0m $767.3m $767.3m 1.09% Added +472.8k +472,802
10 WELLS FARGO & COMPANY/MN 0.15% of their portfolio SAN FRANCISCO, CA 3,969,1874.0m $761.3m $761.3m 0.15% Reduced -149.5k -149,506
11 UBS Group AG 0.13% of their portfolio ZURICH, V8 3,772,8433.8m $723.7m $723.7m 0.13% Added +54.8k +54,781
12 Orgel Wealth Management, LLC 13.61% of their portfolio ALTOONA, WI 3,292,6763.3m $631.6m $631.6m 13.61% Added +242.1k +242,123
13 BlackRock, Inc. 0.01% of their portfolio New York, NY 3,116,3803.1m $597.8m $597.8m 0.01% Added +10.9k +10,921
14 Facet Wealth, Inc. 9.86% of their portfolio WEST PALM BEACH, FL 2,965,9463.0m $568.9m $568.9m 9.86% Added +77.8k +77,846
15 M&T Bank Corp 1.87% of their portfolio BUFFALO, NY 2,855,7812.9m $547.8m $547.8m 1.87% Reduced -259.0k -259,037
16 Blue Trust, Inc. 5.92% of their portfolio BRENTWOOD, TN 2,694,6602.7m $516.9m $516.9m 5.92% Reduced -7.1k -7,094
17 Gallagher Fiduciary Advisors, LLC 0.02% of their portfolio ROLLING MEADOWS, IL 2,599,8612.6m $615.3k $615.3k 0.02% Added +2.6m +2,583,484
18 KEYBANK NATIONAL ASSOCIATION/OH 1.77% of their portfolio BROOKLYN, OH 2,522,9852.5m $483.9m $483.9m 1.77% Reduced -137.8k -137,826
19 Focus Partners Wealth 0.51% of their portfolio ST LOUIS, MO 2,400,3322.4m $461.3m $461.3m 0.51% Added +13.4k +13,376
20 RAYMOND JAMES FINANCIAL INC 0.11% of their portfolio ST. PETERSBURG, FL 1,902,8861.9m $365.0m $365.0m 0.11% Reduced -66.6k -66,593
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.22% of their portfolio MILWAUKEE, WI 1,900,9691.9m $364.6m $364.6m 0.22% Reduced -87.1k -87,097
22 CWM, LLC 0.95% of their portfolio OMAHA, NE 1,889,3431.9m $362.4m $362.4m 0.95% Reduced -356.6k -356,585
23 Richard Bernstein Advisors LLC 10.27% of their portfolio NEW YORK, NY 1,846,2851.8m $354.1m $354.1m 10.27% Added +1.8m +1,780,967
24 Haverford Trust Co 3.12% of their portfolio Radnor, PA 1,777,9711.8m $341.0m $341.0m 3.12% Added +57.7k +57,696
25 ROYAL BANK OF CANADA 0.06% of their portfolio TORONTO, A6 1,777,0791.8m $340.9m $340.9m 0.06% Added +49.6k +49,616
26 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 5.89% of their portfolio Seattle, WA 1,766,6941.8m $338.9m $338.9m 5.89% Added +2.3k +2,269
27 STIFEL FINANCIAL CORP 0.29% of their portfolio ST. LOUIS, MO 1,632,0841.6m $313.1m $313.1m 0.29% Added +39.3k +39,312
28 Cetera Investment Advisers 0.32% of their portfolio SCHAUMBURG, IL 1,574,0451.6m $301.9m $301.9m 0.32% Added +43.7k +43,742
29 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio SAN FRANCISCO, CA 1,500,5541.5m $287.8m $287.8m 0.04% Reduced -54.0k -53,962
30 MML INVESTORS SERVICES, LLC 0.75% of their portfolio SPRINGFIELD, MA 1,417,6641.4m $271.9m $271.9m 0.75% Reduced -433.0k -433,005
31 HighTower Advisors, LLC 0.27% of their portfolio CHICAGO, IL 1,349,6711.3m $258.9m $258.9m 0.27% Added +48.9k +48,918
32 COMMONWEALTH EQUITY SERVICES, LLC 0.36% of their portfolio WALTHAM, MA 1,340,0551.3m $257.0m $257.0m 0.36% Reduced -15.3k -15,272
33 Wharton Business Group, LLC 8.71% of their portfolio MALVERN, PA 1,201,8101.2m $230.5m $230.5m 8.71% Reduced -464 -464
34 MERCER GLOBAL ADVISORS INC /ADV 0.33% of their portfolio DENVER, CO 1,161,4091.2m $222.8m $222.8m 0.33% Reduced -208.0k -207,969
35 COLDSTREAM CAPITAL MANAGEMENT INC 2.62% of their portfolio BELLEVUE, WA 1,110,1051.1m $212.9m $212.9m 2.62% Added +33.3k +33,275
36 PARK AVENUE SECURITIES LLC 1.65% of their portfolio NEW YORK, NY 1,101,7521.1m $211.3m $211.3m 1.65% Added +16.6k +16,599
37 Envestnet Portfolio Solutions, Inc. 1.08% of their portfolio BERWYN, PA 1,014,9391.0m $194.7m $194.7m 1.08% Reduced -78.6k -78,552
38 Connecticut Wealth Management, LLC 7.92% of their portfolio FARMINGTON, CT 985,890985.9k $189.1m $189.1m 7.92% Reduced -37.9k -37,897
39 Kestra Investment Management, LLC 3.08% of their portfolio AUSTIN, TX 930,665930.7k $178.5m $178.5m 3.08% Added +111.9k +111,879
40 Janney Montgomery Scott LLC 0.41% of their portfolio PHILADELPHIA, PA 865,213865.2k $166.0m $166.0m 0.41% Added +18.5k +18,526
41 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 856,096856.1k $164.2m $164.2m 0.03% Added +70.3k +70,330
42 OSAIC HOLDINGS, INC. 0.23% of their portfolio SCOTTSDALE, AZ 807,579807.6k $155.1m $155.1m 0.23% Reduced -59.7k -59,734
43 SCS Capital Management LLC 1.62% of their portfolio BOSTON, MA 797,152797.2k $152.9m $152.9m 1.62% Reduced -40.2k -40,238
44 Integrated Wealth Concepts LLC 1.20% of their portfolio WALTHAM, MA 785,050785.0k $150.6m $150.6m 1.20% Added +260.4k +260,443
45 Bluespring Wealth Management, LLC 12.90% of their portfolio AUSTIN, TX 780,349780.3k $149.7m $149.7m 12.90% Added +21.5k +21,513
46 Foster Group, Inc. 4.28% of their portfolio WEST DES MOINES, IA 750,295750.3k $143.9m $143.9m 4.28% Added +30.6k +30,570
47 NewEdge Advisors, LLC 0.51% of their portfolio NEW ORLEANS, LA 732,682732.7k $140.5m $140.5m 0.51% Added +18.5k +18,529
48 OneDigital Investment Advisors LLC 1.30% of their portfolio OVERLAND PARK, KS 691,130691.1k $132.6m $132.6m 1.30% Added +40.9k +40,940
49 &PARTNERS 0.63% of their portfolio NASHVILLE, TN 665,712665.7k $127.9m $127.9m 0.63% Added +56.1k +56,076
50 Mariner, LLC 0.15% of their portfolio Overland Park, KS 654,854654.9k $125.6m $125.6m 0.15% Reduced -32.2k -32,245
51 Corient Private Wealth LP 0.18% of their portfolio MIAMI, FL 643,262643.3k $123.0m $123.0m 0.18% Reduced -686.1k -686,079
52 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.73% of their portfolio IRVING, TX 619,423619.4k $118.8m $118.8m 0.73% Added +38.8k +38,799
53 D.A. DAVIDSON & CO. 0.70% of their portfolio GREAT FALLS, MT 605,588605.6k $116.2m $116.2m 0.70% Added +5.9k +5,890
54 Sanctuary Advisors, LLC 0.63% of their portfolio INDIANAPOLIS, IN 604,311604.3k $115.9m $115.9m 0.63% Added +36.5k +36,521
55 Unison Advisors LLC 8.78% of their portfolio PROVIDENCE, RI 603,217603.2k $115.7m $115.7m 8.78% Added +230.0k +229,969
56 Foundations Investment Advisors, LLC 1.42% of their portfolio PHOENIX, AZ 597,656597.7k $114.6m $114.6m 1.42% Added +61.6k +61,633
57 Sage Mountain Advisors LLC 7.75% of their portfolio ATLANTA, GA 577,602577.6k $110.8m $110.8m 7.75% Added +15.6k +15,612
58 Savant Capital, LLC 0.50% of their portfolio ROCKFORD, IL 536,934536.9k $103.0m $103.0m 0.50% Reduced -11.1k -11,069
59 Equitable Holdings, Inc. 0.66% of their portfolio NEW YORK, NY 517,330517.3k $102.7m $102.7m 0.66% Added +58.8k +58,813
60 JOHNSON INVESTMENT COUNSEL INC 0.78% of their portfolio Cincinnati, OH 502,976503.0k $96.5m $96.5m 0.78% Added +14.4k +14,362
61 HOWARD FINANCIAL SERVICES, LTD. 10.86% of their portfolio DALLAS, TX 502,864502.9k $96.5m $96.5m 10.86% Reduced -4.9k -4,887
62 Merit Financial Group, LLC 0.72% of their portfolio ALPHARETTA, GA 501,905501.9k $96.3m $96.3m 0.72% Added +36.0k +35,961
63 Cambridge Investment Research Advisors, Inc. 0.23% of their portfolio FAIRFIELD, IA 461,725461.7k $88.6m $88.6m 0.23% Reduced -47.2k -47,182
64 SAX WEALTH ADVISORS, LLC 4.43% of their portfolio PARSIPPANY, NJ 460,653460.7k $91.5m $91.5m 4.43% Reduced -2.6k -2,617
65 Prime Capital Investment Advisors, LLC 1.02% of their portfolio OVERLAND PARK, KS 459,443459.4k $88.1m $88.1m 1.02% Reduced -23.6k -23,571
66 Obermeyer Wealth Partners 4.03% of their portfolio ASPEN, CO 455,785455.8k $87.4m $87.4m 4.03% Reduced -92.8k -92,790
67 Modern Wealth Management, LLC 1.50% of their portfolio KANSAS CITY, MO 454,044454.0k $87.5m $87.5m 1.50% Reduced -126.7k -126,735
68 Kestra Advisory Services, LLC 0.32% of their portfolio AUSTIN, TX 443,371443.4k $85.0m $85.0m 0.32% Reduced -284.2k -284,213
69 JONES FINANCIAL COMPANIES LLLP 0.04% of their portfolio DES PERES, MO 432,898432.9k $81.1m $81.1m 0.04% Added +75.6k +75,575
70 PINNACLE ASSOCIATES LTD 1.06% of their portfolio NEW YORK, NY 429,470429.5k $82.4m $82.4m 1.06% Added +2.3k +2,325
71 Baker Avenue Asset Management, LP 1.85% of their portfolio SAN FRANCISCO, CA 424,179424.2k $81.4m $81.4m 1.85% Added +3.6k +3,642
72 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 411,517411.5k $78.9m $78.9m 0.01% Reduced -697.4k -697,447
73 Private Advisor Group, LLC 0.36% of their portfolio MORRISTOWN, NJ 404,816404.8k $77.6m $77.6m 0.36% Added +4.4k +4,412
74 CAPTRUST FINANCIAL ADVISORS 0.14% of their portfolio RALEIGH, NC 402,442402.4k $77.2m $77.2m 0.14% Reduced -1.3k -1,306
75 Advocacy Wealth Management, LLC 3.41% of their portfolio ATLANTA, GA 402,172402.2k $77.1m $77.1m 3.41% Reduced -50.4k -50,433
76 Rockefeller Capital Management L.P. 0.14% of their portfolio NEW YORK, NY 401,444401.4k $77.0m $77.0m 0.14% Added +5.3k +5,279
77 JB Capital LLC 2.88% of their portfolio WETHERSFIELD, CT 371,144371.1k $71.2m $71.2m 2.88% Added +11.9k +11,901
78 AdvisorShares Investments LLC 12.79% of their portfolio BETHESDA, MD 365,784365.8k $70.2m $70.2m 12.79% New
79 Beacon Pointe Advisors, LLC 0.35% of their portfolio NEWPORT BEACH, CA 348,994349.0k $66.9m $66.9m 0.35% Added +316.5k +316,548
80 SACHEM HILL LLC 12.86% of their portfolio DENVER, CO 346,003346.0k $66.4m $66.4m 12.86% Reduced -1.4k -1,399
81 Cresset Asset Management, LLC 0.28% of their portfolio Chicago, IL 339,751339.8k $65.2m $65.2m 0.28% Reduced -36.1k -36,101
82 Valence8 US LP 22.62% of their portfolio Cambridge, MA 337,336337.3k $64.7m $64.7m 22.62% Reduced -25.8k -25,767
83 STATE OF MICHIGAN RETIREMENT SYSTEM 0.33% of their portfolio EAST LANSING, MI 324,549324.5k $62.3m $62.3m 0.33% Added +79.5k +79,500
84 True Link Financial Advisors, LLC 3.80% of their portfolio SAN FRANCISCO, CA 320,607320.6k $61.5m $61.5m 3.80% Added +523 +523
85 Horizon Investments, LLC 0.69% of their portfolio Charlotte, NC 319,994320.0k $61.4m $61.4m 0.69% Added +16.3k +16,294
86 Strategies Wealth Advisors, LLC 6.03% of their portfolio GRAND RAPIDS, MI 312,815312.8k $60.0m $60.0m 6.03% Added +26.0k +26,032
87 LANDAAS & CO /WI /ADV 12.96% of their portfolio MILWAUKEE, WI 308,026308.0k $59.1m $59.1m 12.96% Reduced -3.7k -3,688
88 Wilmington Savings Fund Society, FSB 1.39% of their portfolio WILMINGTON, DE 304,132304.1k $58.3m $58.3m 1.39% Reduced -86.0k -86,030
89 AE Wealth Management LLC 0.31% of their portfolio TOPEKA, KS 301,971302.0k $57.9m $57.9m 0.31% Reduced -22.5k -22,515
90 Composition Wealth, LLC 0.79% of their portfolio LOS ANGELES, CA 300,753300.8k $57.7m $57.7m 0.79% Reduced -108.8k -108,798
91 Steward Partners Investment Advisory, LLC 0.28% of their portfolio STAMFORD, CT 289,121289.1k $55.5m $55.5m 0.28% Added +291 +291
92 TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC 0.21% of their portfolio CHARLOTTE, NC 288,758288.8k $55.4m $55.4m 0.21% First filing
93 Pinnacle Wealth Management Advisory Group, LLC 3.71% of their portfolio RED BANK, NJ 283,133283.1k $54.3m $54.3m 3.71% Added +1.5k +1,466
94 Baron Wealth Management LLC 16.10% of their portfolio TROY, MI 280,742280.7k $53.8m $53.8m 16.10% Reduced -3.8k -3,847
95 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.12% of their portfolio PLYMOUTH, MN 274,217274.2k $53.0m $53.0m 0.12% Reduced -70.6k -70,605
96 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.75% of their portfolio MINNEAPOLIS, MN 268,182268.2k $51.4m $51.4m 0.75% Reduced -48.3k -48,297
97 Apollon Wealth Management, LLC 0.83% of their portfolio MOUNT PLEASANT, SC 266,639266.6k $51.1m $51.1m 0.83% Added +5.4k +5,380
98 Prosperity Consulting Group, LLC 2.26% of their portfolio OWINGS MILLS, MD 265,068265.1k $50.8m $50.8m 2.26% Added +1.4k +1,414
99 Thrivent Financial for Lutherans 0.10% of their portfolio Minneapolis, MN 264,512264.5k $50.5m $50.5m 0.10% Added +1.4k +1,384
100 LIFE LINE WEALTH MANAGEMENT LLC 21.40% of their portfolio Beverly Hills, CA 249,841249.8k $47.9m $47.9m 21.40% Added +9.8k +9,850