Vault-13

ISHARES TR VLUE

MSCI USA VALUE · ETP · CUSIP 46432F388

423 institutional holders -2 vs Q4 2024
50,740,54950.7m shares reported held*
$5.4bnreported value*
35 new 116 added 165 reduced 40 sold out net sold ≈ $59.8m (-554.8k 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 ($8.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $106.63.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 468Q4 22: 468Q1 23: 445Q2 23: 432Q3 23: 416Q4 23: 435Q1 24: 421Q2 24: 406Q3 24: 403Q4 24: 425Q1 25: 423423Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022468
Q4 2022468
Q1 2023445
Q2 2023432
Q3 2023416
Q4 2023435
Q1 2024421
Q2 2024406
Q3 2024403
Q4 2024425
Q1 2025423

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 23: 126 bought or addedQ2 23: 269 cut or sold outQ3 23: 118 bought or addedQ3 23: 237 cut or sold outQ3 23Q4 23: 131 bought or addedQ4 23: 238 cut or sold outQ1 24: 150 bought or addedQ1 24: 231 cut or sold outQ1 24Q2 24: 146 bought or addedQ2 24: 219 cut or sold outQ3 24: 132 bought or addedQ3 24: 208 cut or sold outQ3 24Q4 24: 152 bought or addedQ4 24: 182 cut or sold outQ1 25: 151 bought or addedQ1 25: 205 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023126269
Q3 2023118237
Q4 2023131238
Q1 2024150231
Q2 2024146219
Q3 2024132208
Q4 2024152182
Q1 2025151205

Calls vs puts

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

CallsPuts
$0$200k$400k$600kQ2 24 calls: $403.5kQ2 24 puts: $0Q2 24P/C 0.00Q3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —
Numbers
QuarterCallsPutsP/C
Q2 2024$403.5k$00.00
Q3 2024$0$0—
Q4 2024$0$0—
Q1 2025$0$0—

Biggest buyers

NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +536,413+536.4k
Avidian Wealth Enterprises, LLC New +184,076+184.1k
ROYAL BANK OF CANADA Added +181,562+181.6k
FMR LLC Added +130,804+130.8k
Bank of New York Mellon Corp Added +122,832+122.8k
Jefferies Financial Group Inc. New +71,936+71.9k
WELLS FARGO & COMPANY/MN Added +61,210+61.2k
BlackRock, Inc. Added +51,705+51.7k
Sage Advisory Services, Ltd.Co. New +51,015+51.0k
Cerity Partners LLC Added +33,333+33.3k

Biggest sellers

Matson Money. Inc. Reduced -772,258-772.3k
ENVESTNET ASSET MANAGEMENT INC Reduced -210,075-210.1k
CFO4Life Group, LLC Reduced -191,794-191.8k
M&T Bank Corp Reduced -166,966-167.0k
Trilogy Capital Inc. Reduced -150,187-150.2k
UBS Group AG Reduced -75,892-75.9k
Stonehearth Capital Management, LLC Reduced -63,716-63.7k
Haverford Trust Co Reduced -62,070-62.1k
MERCER GLOBAL ADVISORS INC /ADV Reduced -60,833-60.8k
Savant Capital, LLC Reduced -45,029-45.0k

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 1.80% of their portfolio MILWAUKEE, WI 20,677,62920.7m $2.2bn $2.2bn 1.80% Added +536.4k +536,413
2 Mason Investment Advisory Services, Inc. 29.71% of their portfolio RESTON, VA 4,615,6804.6m $492.3m $492.3m 29.71% Added +27.6k +27,579
3 Matson Money. Inc. 10.42% of their portfolio MASON, OH 2,685,7132.7m $286.4m $286.4m 10.42% Reduced -772.3k -772,258
4 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,833,4461.8m $195.5m $195.5m 0.02% Reduced -11.0k -10,984
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,571,2571.6m $167.6m $167.6m 0.00% Added +51.7k +51,705
6 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 1,484,0201.5m $158.3m $158.3m 0.05% Reduced -210.1k -210,075
7 MERCER GLOBAL ADVISORS INC /ADV 0.36% of their portfolio DENVER, CO 1,455,0991.5m $155.2m $155.2m 0.36% Reduced -60.8k -60,833
8 Wharton Business Group, LLC 6.28% of their portfolio MALVERN, PA 1,301,9111.3m $138.8m $138.8m 6.28% Added +6.2k +6,245
9 BNP PARIBAS FINANCIAL MARKETS 0.10% of their portfolio PARIS, I0 1,216,0191.2m $129.7m $129.7m 0.10% First filing
10 Cerity Partners LLC 0.17% of their portfolio NEW YORK, NY 767,409767.4k $81.8m $81.8m 0.17% Added +33.3k +33,333
11 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 747,848747.8k $79.8m $79.8m 0.01% Reduced -8.5k -8,516
12 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 583,053583.1k $62.2m $62.2m 0.03% Reduced -18.8k -18,760
13 M&T Bank Corp 0.22% of their portfolio BUFFALO, NY 555,779555.8k $59.3m $59.3m 0.22% Reduced -167.0k -166,966
14 UBS Group AG 0.01% of their portfolio ZURICH, V8 549,755549.8k $58.6m $58.6m 0.01% Reduced -75.9k -75,892
15 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 502,438502.4k $53.6m $53.6m 0.02% Reduced -28.3k -28,317
16 FMR LLC 0.00% of their portfolio BOSTON, MA 481,877481.9k $51.4m $51.4m 0.00% Added +130.8k +130,804
17 Kathmere Capital Management, LLC 4.15% of their portfolio WAYNE, PA 457,832457.8k $48.8m $48.8m 4.15% Added +2.8k +2,776
18 STATE OF MICHIGAN RETIREMENT SYSTEM 0.27% of their portfolio EAST LANSING, MI 445,900445.9k $47.6m $47.6m 0.27% Added +24.5k +24,500
19 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 410,555410.6k $43.8m $43.8m 0.00% Added +2.6k +2,603
20 Stonehearth Capital Management, LLC 13.58% of their portfolio DANVERS, MA 307,792307.8k $32.8m $32.8m 13.58% Reduced -63.7k -63,716
21 Horizon Investments, LLC 0.94% of their portfolio Charlotte, NC 296,317296.3k $31.6m $31.6m 0.94% Reduced -30.1k -30,105
22 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 292,511292.5k $31.2m $31.2m 0.01% Added +61.2k +61,210
23 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 268,389268.4k $28.6m $28.6m 0.01% Added +10.1k +10,113
24 Janney Montgomery Scott LLC 0.08% of their portfolio PHILADELPHIA, PA 261,437261.4k $27.9m $27.9m 0.08% Reduced -2.9k -2,893
25 INTRUST BANK NA 2.63% of their portfolio WICHITA, KS 249,695249.7k $26.6m $26.6m 2.63% Added +440 +440
26 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 239,519239.5k $25.5m $25.5m 0.01% Added +181.6k +181,562
27 Mullooly Asset Management, Inc. 11.42% of their portfolio WALL TOWNSHIP, NJ 236,127236.1k $25.2m $25.2m 11.42% First filing
28 Nan Shan Life Insurance Co., Ltd. 0.52% of their portfolio Taipei City, F5 205,000205.0k $21.9m $21.9m 0.52% Reduced -23.5k -23,525
29 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 195,319195.3k $20.8m $20.8m 0.00% Added +122.8k +122,832
30 CWM, LLC 0.08% of their portfolio OMAHA, NE 193,946193.9k $20.7m $20.7m 0.08% Added +25.7k +25,681
31 Focus Partners Wealth 0.05% of their portfolio ST LOUIS, MO 193,444193.4k $20.6m $20.6m 0.05% Added +17.3k +17,306
32 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 184,526184.5k $19.7m $19.7m 0.03% Reduced -2.0k -1,989
33 Avidian Wealth Enterprises, LLC 0.87% of their portfolio Houston, TX 184,076184.1k $19.6m $19.6m 0.87% New
34 Elk River Wealth Management LLC 3.43% of their portfolio DENVER, CO 171,926171.9k $18.3m $18.3m 3.43% Added +7.0k +7,037
35 Meridian Wealth Partners, LLC 2.87% of their portfolio EXTON, PA 168,703168.7k $18.0m $18.0m 2.87% Added +1.6k +1,564
36 Foster Group, Inc. 0.55% of their portfolio WEST DES MOINES, IA 139,030139.0k $14.8m $14.8m 0.55% Added +6.6k +6,570
37 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 122,888122.9k $13.1m $13.1m 0.00% Reduced -35.9k -35,929
38 Addison Advisors LLC 3.46% of their portfolio MIDDLEBURY, VT 118,882118.9k $12.7m $12.7m 3.46% Added +3.2k +3,216
39 Integrated Wealth Concepts LLC 0.14% of their portfolio WALTHAM, MA 115,581115.6k $12.3m $12.3m 0.14% Reduced -31.7k -31,733
40 Wolf Group Capital Advisors 3.52% of their portfolio FAIRFAX, VA 98,27998.3k $10.5m $10.5m 3.52% Added +4.8k +4,772
41 Cresset Asset Management, LLC 0.05% of their portfolio Chicago, IL 97,20197.2k $10.4m $10.4m 0.05% Reduced -5.0k -4,997
42 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 88,31688.3k $9.4m $9.4m 0.01% Added +2.4k +2,409
43 SIGNATUREFD, LLC 0.17% of their portfolio ATLANTA, GA 82,26982.3k $8.8m $8.8m 0.17% Added +1.9k +1,865
44 Steward Partners Investment Advisory, LLC 0.07% of their portfolio STAMFORD, CT 79,40179.4k $8.5m $8.5m 0.07% Reduced -160 -160
45 Cerro Pacific Wealth Advisors LLC 2.72% of their portfolio San Luis Obispo, CA 79,14379.1k $8.4m $8.4m 2.72% Added +2.8k +2,782
46 Spider Management Company, LLC 3.53% of their portfolio RICHMOND, VA 76,98677.0k $8.2m $8.2m 3.53% Unchanged
47 CFO4Life Group, LLC 1.36% of their portfolio COPPELL, TX 75,69175.7k $8.1m $8.1m 1.36% Reduced -191.8k -191,794
48 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 74,89274.9k $8.0m $8.0m 0.02% Reduced -2.3k -2,323
49 Jefferies Financial Group Inc. 0.13% of their portfolio NEW YORK, NY 71,93671.9k $7.7m $7.7m 0.13% New
50 SVB WEALTH LLC 0.31% of their portfolio BOSTON, MA 70,19170.2k $7.5m $7.5m 0.31% Reduced -22.6k -22,645
51 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 64,64264.6k $6.9m $6.9m 0.01% Added +7.4k +7,398
52 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 64,45364.5k $6.9m $6.9m 0.02% Added +15.5k +15,491
53 FIRST FINANCIAL BANK - TRUST DIVISION 0.66% of their portfolio HAMILTON, OH 63,89363.9k $6.8m $6.8m 0.66% Added +573 +573
54 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 60,35160.4k $6.4m $6.4m 0.02% Added +4.2k +4,161
55 SYNTAX RESEARCH, INC. 4.44% of their portfolio BOCA RATON, FL 60,29260.3k $6.4m $6.4m 4.44% Reduced -12.4k -12,388
56 PARTNERS CAPITAL INVESTMENT GROUP, LLP 0.10% of their portfolio BOSTON, MA 57,87757.9k $6.2m $6.2m 0.10% Unchanged
57 IFP Advisors, Inc 0.19% of their portfolio TAMPA, FL 57,53557.5k $6.1m $6.1m 0.19% Added +3.2k +3,174
58 NorthCoast Asset Management LLC 0.03% of their portfolio STAMFORD, CT 55,14955.1k $5.9m $5.9m 0.03% Reduced -310 -310
59 Parallel Advisors, LLC 0.13% of their portfolio SAN FRANCISCO, CA 54,20954.2k $5.8m $5.8m 0.13% Reduced -4.5k -4,503
60 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 53,26753.3k $5.7m $5.7m 0.00% Reduced -12.0k -12,023
61 Sage Advisory Services, Ltd.Co. 3.20% of their portfolio AUSTIN, TX 51,01551.0k $5.4m $5.4m 3.20% New
62 Gunma Bank,Ltd. 1.72% of their portfolio GUNMA, M0 50,00050.0k $5.3m $5.3m 1.72% Reduced -15.0k -15,000
63 OneDigital Investment Advisors LLC 0.06% of their portfolio OVERLAND PARK, KS 49,63649.6k $5.3m $5.3m 0.06% Reduced -5.0k -4,990
64 Well Done, LLC 0.93% of their portfolio HOLLAND, MI 48,41548.4k $5.1m $5.1m 0.93% Reduced -781 -781
65 Aptus Capital Advisors, LLC 0.06% of their portfolio FAIRHOPE, AL 46,27846.3k $4.9m $4.9m 0.06% Reduced -6.6k -6,631
66 Mariner, LLC 0.01% of their portfolio Overland Park, KS 45,41845.4k $4.8m $4.8m 0.01% Reduced -2.2k -2,216
67 WADDELL & ASSOCIATES, LLC 0.58% of their portfolio MEMPHIS, TN 44,79944.8k $4.8m $4.8m 0.58% Reduced -4.1k -4,134
68 ANDERSON HOAGLAND & CO 0.49% of their portfolio ST LOUIS, MO 44,20544.2k $4.1m $4.1m 0.49% Added +14.5k +14,457
69 Summit Wealth Group, LLC 1.32% of their portfolio WHITE RIVER JUNCTION, VT 42,20342.2k $4.5m $4.5m 1.32% Reduced -5.1k -5,067
70 EVERGREEN CAPITAL MANAGEMENT LLC 0.14% of their portfolio Bellevue, WA 38,61838.6k $4.1m $4.1m 0.14% Added +1 +1
71 Interchange Capital Partners, LLC 1.15% of their portfolio PITTSBURGH, PA 38,38938.4k $4.1m $4.1m 1.15% Added +242 +242
72 Focus Financial Network, Inc. 0.17% of their portfolio MINNEAPOLIS, MN 38,12838.1k $4.1m $4.1m 0.17% Reduced -660 -660
73 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 37,03637.0k $3.9m $3.9m 0.00% Added +8.6k +8,591
74 Trilogy Capital Inc. 0.20% of their portfolio IRVINE, CA 35,85935.9k $3.8m $3.8m 0.20% Reduced -150.2k -150,187
75 EFG Private Wealth Management (Americas) Corp. 0.77% of their portfolio MIAMI, FL 35,60935.6k $3.8m $3.8m 0.77% Reduced -569 -569
76 Bank Julius Baer & Co. Ltd, Zurich 0.01% of their portfolio ZURICH, V8 34,19434.2k $3.6m $3.6m 0.01% Reduced -21.3k -21,333
77 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 32,90832.9k $3.5m $3.5m 0.00% Reduced -7.2k -7,158
78 Equitable Holdings, Inc. 0.03% of their portfolio NEW YORK, NY 32,58032.6k $3.5m $3.5m 0.03% Reduced -383 -383
79 Family Manage LLC 0.57% of their portfolio NEW YORK, NY 32,31032.3k $3.4m $3.4m 0.57% Reduced -817 -817
80 EQ LLC 1.57% of their portfolio BELLEVUE, WA 31,50731.5k $3.4m $3.4m 1.57% Reduced -142 -142
81 Orion Portfolio Solutions, LLC 0.02% of their portfolio Omaha, NE 31,06931.1k $3.3m $3.3m 0.02% Added +15.0k +15,042
82 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 30,46530.5k $3.2m $3.2m 0.01% Reduced -559 -559
83 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 29,69529.7k $3.2m $3.2m 0.01% Added +13.2k +13,200
84 Savant Capital, LLC 0.03% of their portfolio ROCKFORD, IL 29,67829.7k $3.2m $3.2m 0.03% Reduced -45.0k -45,029
85 JACKSON THORNTON WEALTH MANAGEMENT, LLC 0.38% of their portfolio MONTGOMERY, AL 29,15029.1k $2.9m $2.9m 0.38% Added +5.7k +5,743
86 STEPHENS INC /AR/ 0.05% of their portfolio LITTLE ROCK, AR 29,06629.1k $3.1m $3.1m 0.05% Reduced -14.7k -14,727
87 Dorsey & Whitney Trust CO LLC 0.17% of their portfolio SIOUX FALLS, SD 28,17528.2k $3.0m $3.0m 0.17% Reduced -500 -500
88 Lido Advisors, LLC 0.02% of their portfolio Los Angeles, CA 27,70627.7k $3.0m $3.0m 0.02% Reduced -8.3k -8,252
89 U.S. Capital Wealth Advisors, LLC 0.09% of their portfolio AUSTIN, TX 27,64227.6k $2.9m $2.9m 0.09% Reduced -5.3k -5,321
90 FDx Advisors, Inc. 0.96% of their portfolio BERWYN, PA 27,55427.6k $2.9m $2.9m 0.96% New
91 Cannon Financial Strategists, Inc. 0.50% of their portfolio ATHENS, GA 27,31527.3k $2.9m $2.9m 0.50% Added +2.2k +2,195
92 Haverford Trust Co 0.03% of their portfolio Radnor, PA 27,29627.3k $2.9m $2.9m 0.03% Reduced -62.1k -62,070
93 Focus Partners Advisor Solutions, LLC 0.04% of their portfolio SAINT LOUIS, MO 26,06326.1k $2.8m $2.8m 0.04% Reduced -537 -537
94 PEDDOCK CAPITAL ADVISORS, LLC 0.70% of their portfolio BRAINTREE, MA 25,98826.0k $2.8m $2.8m 0.70% Added +978 +978
95 EP Wealth Advisors, LLC 0.02% of their portfolio TORRANCE, CA 25,47725.5k $2.7m $2.7m 0.02% Reduced -438 -438
96 Tower Research Capital LLC (TRC) 0.08% of their portfolio NEW YORK, NY 24,88324.9k $2.8m $2.8m 0.08% Added +2.1k +2,072
97 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 24,24424.2k $2.6m $2.6m 0.00% Reduced -159 -159
98 BARON SILVER STEVENS FINANCIAL ADVISORS, LLC 0.42% of their portfolio Boca Raton, FL 22,70422.7k $2.4m $2.4m 0.42% Reduced -429 -429
99 ASSETMARK, INC 0.01% of their portfolio CONCORD, CA 21,10821.1k $2.3m $2.3m 0.01% Added +5.1k +5,134
100 Foundations Investment Advisors, LLC 0.04% of their portfolio PHOENIX, AZ 20,27820.3k $2.2m $2.2m 0.04% Added +4.6k +4,582