Vault-13

ISHARES TR VLUE

MSCI USA VALUE · ETP · CUSIP 46432F388

434 institutional holders +12 vs Q2 2025
49,831,74149.8m shares reported held*
$6.2bnreported value*
51 new 119 added 157 reduced 36 sold out net sold ≈ $35.4m (-575.6k 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 ($7.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $125.05.

Trends to Q3 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: 423Q2 25: 422Q3 25: 434434Q3 22Q2 23Q1 24Q4 24Q3 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
Q2 2025422
Q3 2025434

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 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 25Q2 25: 150 bought or addedQ2 25: 207 cut or sold outQ3 25: 170 bought or addedQ3 25: 193 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023131238
Q1 2024150231
Q2 2024146219
Q3 2024132208
Q4 2024152182
Q1 2025151205
Q2 2025150207
Q3 2025170193

Biggest buyers

Caisse de depot et placement du Quebec New +1,495,891+1.5m
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +577,973+578.0k
JPMORGAN CHASE & CO Added +386,671+386.7k
MASON STREET ADVISORS, LLC New +320,000+320.0k
Lido Advisors, LLC Added +133,366+133.4k
FMR LLC Added +109,320+109.3k
OSAIC HOLDINGS, INC. Added +73,870+73.9k
Janney Montgomery Scott LLC Added +61,255+61.3k
Erste Asset Management GmbH New +45,100+45.1k
CWM, LLC Added +44,653+44.7k

Biggest sellers

ROYAL BANK OF CANADA Reduced -1,486,748-1.5m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,263,539-1.3m
Soundwatch Capital LLC Sold out -295,080-295.1k
Nan Shan Life Insurance Co., Ltd. Sold out -205,000-205.0k
MERCER GLOBAL ADVISORS INC /ADV Reduced -140,499-140.5k
M&T Bank Corp Reduced -94,632-94.6k
BlackRock, Inc. Reduced -75,320-75.3k
BNP PARIBAS FINANCIAL MARKETS Reduced -59,975-60.0k
CITADEL ADVISORS LLC Sold out -42,886-42.9k
Avidian Wealth Enterprises, LLC Reduced -42,811-42.8k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 1.85% of their portfolio MILWAUKEE, WI 22,160,30322.2m $2.8bn $2.8bn 1.85% Added +578.0k +577,973
2 Mason Investment Advisory Services, Inc. 29.29% of their portfolio RESTON, VA 4,702,9314.7m $588.1m $588.1m 29.29% Added +38.9k +38,865
3 Matson Money. Inc. 10.71% of their portfolio MASON, OH 2,601,2612.6m $325.3m $325.3m 10.71% Unchanged
4 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,768,9351.8m $221.2m $221.2m 0.02% Added +17.1k +17,069
5 Caisse de depot et placement du Quebec 0.34% of their portfolio Montreal, A8 1,495,8911.5m $187.1m $187.1m 0.34% New
6 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,468,0681.5m $183.6m $183.6m 0.00% Reduced -75.3k -75,320
7 MERCER GLOBAL ADVISORS INC /ADV 0.26% of their portfolio DENVER, CO 1,266,1221.3m $158.3m $158.3m 0.26% Reduced -140.5k -140,499
8 Wharton Business Group, LLC 6.59% of their portfolio MALVERN, PA 1,206,3071.2m $150.8m $150.8m 6.59% Reduced -4.1k -4,135
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 778,884778.9k $97.4m $97.4m 0.00% Added +386.7k +386,671
10 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 742,313742.3k $92.8m $92.8m 0.01% Reduced -32.0k -31,956
11 PNC Financial Services Group, Inc. 0.04% of their portfolio Pittsburgh, PA 551,790551.8k $69.0m $69.0m 0.04% Reduced -20.1k -20,056
12 STATE OF MICHIGAN RETIREMENT SYSTEM 0.32% of their portfolio EAST LANSING, MI 535,000535.0k $66.9m $66.9m 0.32% Reduced -31.8k -31,800
13 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 526,467526.5k $65.8m $65.8m 0.02% Reduced -7.6k -7,627
14 FMR LLC 0.00% of their portfolio BOSTON, MA 500,713500.7k $62.6m $62.6m 0.00% Added +109.3k +109,320
15 Kathmere Capital Management, LLC 4.08% of their portfolio WAYNE, PA 459,226459.2k $57.4m $57.4m 4.08% Added +5.6k +5,626
16 M&T Bank Corp 0.15% of their portfolio BUFFALO, NY 355,487355.5k $44.5m $44.5m 0.15% Reduced -94.6k -94,632
17 UBS Group AG 0.01% of their portfolio ZURICH, V8 353,120353.1k $44.2m $44.2m 0.01% Reduced -19.4k -19,429
18 Janney Montgomery Scott LLC 0.10% of their portfolio PHILADELPHIA, PA 329,779329.8k $41.2m $41.2m 0.10% Added +61.3k +61,255
19 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 321,661321.7k $40.2m $40.2m 0.01% Added +18.4k +18,446
20 MASON STREET ADVISORS, LLC 4.15% of their portfolio MILWAUKEE, WI 320,000320.0k $40.0m $40.0m 4.15% New
21 Focus Partners Wealth 0.06% of their portfolio ST LOUIS, MO 283,329283.3k $35.4m $35.4m 0.06% Added +6.6k +6,576
22 Stonehearth Capital Management, LLC 12.57% of their portfolio DANVERS, MA 259,841259.8k $32.5m $32.5m 12.57% Reduced -2.6k -2,585
23 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 257,162257.2k $32.2m $32.2m 0.01% Reduced -1.5m -1,486,748
24 INTRUST BANK NA 2.65% of their portfolio WICHITA, KS 255,141255.1k $31.9m $31.9m 2.65% Reduced -5.4k -5,429
25 Mullooly Asset Management, Inc. 11.77% of their portfolio WALL TOWNSHIP, NJ 245,275245.3k $30.7m $30.7m 11.77% Added +5.7k +5,666
26 CWM, LLC 0.09% of their portfolio OMAHA, NE 237,952238.0k $29.8m $29.8m 0.09% Added +44.7k +44,653
27 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 234,583234.6k $29.3m $29.3m 0.01% Added +2.6k +2,595
28 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 197,248197.2k $24.7m $24.7m 0.02% Reduced -60.0k -59,975
29 Meridian Wealth Partners, LLC 3.13% of their portfolio EXTON, PA 182,117182.1k $22.8m $22.8m 3.13% Added +7.0k +6,970
30 Elk River Wealth Management LLC 3.50% of their portfolio DENVER, CO 174,598174.6k $21.8m $21.8m 3.50% Added +1.4k +1,429
31 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 157,765157.8k $19.7m $19.7m 0.03% Reduced -19.7k -19,690
32 Lido Advisors, LLC 0.08% of their portfolio Los Angeles, CA 157,116157.1k $19.6m $19.6m 0.08% Added +133.4k +133,366
33 Avidian Wealth Enterprises, LLC 0.69% of their portfolio Houston, TX 147,446147.4k $18.4m $18.4m 0.69% Reduced -42.8k -42,811
34 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 144,142144.1k $17.9m $17.9m 0.03% Added +73.9k +73,870
35 TLT Family Holdco ULC 1.59% of their portfolio Toronto, A6 139,000139.0k $17.4m $17.4m 1.59% Unchanged
36 Foster Group, Inc. 0.53% of their portfolio WEST DES MOINES, IA 136,250136.2k $17.0m $17.0m 0.53% Reduced -7.7k -7,675
37 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 133,774133.8k $16.7m $16.7m 0.00% Reduced -1.3m -1,263,539
38 Addison Advisors LLC 3.35% of their portfolio MIDDLEBURY, VT 115,367115.4k $14.4m $14.4m 3.35% Reduced -2.8k -2,753
39 Integrated Wealth Concepts LLC 0.12% of their portfolio WALTHAM, MA 110,354110.4k $13.8m $13.8m 0.12% Reduced -1.5k -1,527
40 Cresset Asset Management, LLC 0.05% of their portfolio Chicago, IL 96,18396.2k $12.0m $12.0m 0.05% Added +14.7k +14,675
41 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 92,79692.8k $11.6m $11.6m 0.01% Added +38.0k +37,983
42 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 87,52087.5k $10.9m $10.9m 0.01% Reduced -2.3k -2,272
43 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 82,34482.3k $10.3m $10.3m 0.00% Reduced -42.1k -42,136
44 SIGNATUREFD, LLC 0.16% of their portfolio ATLANTA, GA 81,28781.3k $10.2m $10.2m 0.16% Reduced -590 -590
45 Cerro Pacific Wealth Advisors LLC 2.62% of their portfolio San Luis Obispo, CA 76,40876.4k $9.6m $9.6m 2.62% Reduced -10.0k -10,007
46 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 74,18274.2k $9.3m $9.3m 0.00% Added +12.5k +12,477
47 EFG Private Wealth Management (Americas) Corp. 1.57% of their portfolio MIAMI, FL 72,63272.6k $9.1m $9.1m 1.57% Reduced -906 -906
48 CFO4Life Group, LLC 1.24% of their portfolio COPPELL, TX 68,08468.1k $8.5m $8.5m 1.24% Reduced -1.3k -1,318
49 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 65,99466.0k $8.3m $8.3m 0.00% Reduced -3.9k -3,911
50 FIRST FINANCIAL BANK - TRUST DIVISION 0.70% of their portfolio HAMILTON, OH 65,39365.4k $8.2m $8.2m 0.70% Added +1.1k +1,101
51 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 65,07865.1k $8.1m $8.1m 0.01% Reduced -2.4k -2,351
52 SYNTAX RESEARCH, INC. 5.16% of their portfolio BOCA RATON, FL 64,19264.2k $8.0m $8.0m 5.16% Reduced -5.4k -5,428
53 Steward Partners Investment Advisory, LLC 0.04% of their portfolio STAMFORD, CT 59,54959.5k $7.4m $7.4m 0.04% Reduced -1.6k -1,581
54 NorthCoast Asset Management LLC 0.03% of their portfolio STAMFORD, CT 58,66158.7k $7.3m $7.3m 0.03% Reduced -1.5k -1,514
55 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 55,95956.0k $7.0m $7.0m 0.02% Reduced -3.9k -3,928
56 Focus Partners Advisor Solutions, LLC 0.07% of their portfolio SAINT LOUIS, MO 48,98449.0k $6.1m $6.1m 0.07% Reduced -7.3k -7,343
57 Aptus Capital Advisors, LLC 0.05% of their portfolio FAIRHOPE, AL 45,68445.7k $5.7m $5.7m 0.05% Reduced -136 -136
58 Erste Asset Management GmbH 0.05% of their portfolio VIENNA, C4 45,10045.1k $5.6m $5.6m 0.05% New
59 ANDERSON HOAGLAND & CO 0.50% of their portfolio ST LOUIS, MO 44,79044.8k $5.6m $5.6m 0.50% Added +195 +195
60 IFP Advisors, Inc 0.14% of their portfolio TAMPA, FL 43,82643.8k $5.5m $5.5m 0.14% Reduced -4.5k -4,487
61 Parallel Advisors, LLC 0.10% of their portfolio SAN FRANCISCO, CA 43,62843.6k $5.5m $5.5m 0.10% Reduced -1.1k -1,086
62 WADDELL & ASSOCIATES, LLC 0.45% of their portfolio MEMPHIS, TN 42,49642.5k $5.3m $5.3m 0.45% Reduced -2.1k -2,057
63 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 42,31642.3k $5.3m $5.3m 0.00% Added +1.5k +1,505
64 Well Done, LLC 0.86% of their portfolio HOLLAND, MI 40,41940.4k $5.1m $5.1m 0.86% Reduced -86 -86
65 EVERGREEN CAPITAL MANAGEMENT LLC 0.12% of their portfolio Bellevue, WA 39,71639.7k $5.0m $5.0m 0.12% Added +1.1k +1,096
66 SVB WEALTH LLC 0.27% of their portfolio BOSTON, MA 39,50539.5k $4.9m $4.9m 0.27% Reduced -8.4k -8,430
67 Interchange Capital Partners, LLC 0.95% of their portfolio PITTSBURGH, PA 38,85438.9k $4.9m $4.9m 0.95% Added +207 +207
68 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 38,00038.0k $4.8m $4.8m 0.01% Added +24.0k +24,000
69 Mariner, LLC 0.01% of their portfolio Overland Park, KS 37,58837.6k $4.7m $4.7m 0.01% Added +1.7k +1,664
70 Focus Financial Network, Inc. 0.17% of their portfolio MINNEAPOLIS, MN 37,26937.3k $4.7m $4.7m 0.17% Reduced -1.0k -1,003
71 OneDigital Investment Advisors LLC 0.05% of their portfolio OVERLAND PARK, KS 35,32435.3k $4.4m $4.4m 0.05% Reduced -2.3k -2,349
72 Equitable Holdings, Inc. 0.03% of their portfolio NEW YORK, NY 31,26131.3k $3.9m $3.9m 0.03% Reduced -1.3k -1,253
73 Family Manage LLC 0.53% of their portfolio NEW YORK, NY 30,29430.3k $3.8m $3.8m 0.53% Unchanged
74 Sage Advisory Services, Ltd.Co. 1.98% of their portfolio AUSTIN, TX 30,24830.2k $3.8m $3.8m 1.98% Reduced -1.9k -1,880
75 Savant Capital, LLC 0.02% of their portfolio ROCKFORD, IL 29,71329.7k $3.7m $3.7m 0.02% Reduced -90 -90
76 Avantax Planning Partners, Inc. 0.10% of their portfolio DUBUQUE, IA 29,09429.1k $3.6m $3.6m 0.10% Reduced -880 -880
77 STEPHENS INC /AR/ 0.05% of their portfolio LITTLE ROCK, AR 28,87728.9k $3.6m $3.6m 0.05% Reduced -200 -200
78 JACKSON THORNTON WEALTH MANAGEMENT, LLC 0.37% of their portfolio MONTGOMERY, AL 28,58928.6k $3.6m $3.6m 0.37% Reduced -561 -561
79 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 28,38528.4k $3.5m $3.5m 0.01% Reduced -2.9k -2,865
80 NOMURA ASSET MANAGEMENT CO LTD 0.01% of their portfolio TOKYO, M0 28,02028.0k $3.5m $3.5m 0.01% New
81 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 27,40127.4k $3.4m $3.4m 0.01% Reduced -6.0k -6,049
82 PEDDOCK CAPITAL ADVISORS, LLC 0.74% of their portfolio BRAINTREE, MA 27,37627.4k $3.4m $3.4m 0.74% Added +1.6k +1,565
83 Dorsey & Whitney Trust CO LLC 0.18% of their portfolio SIOUX FALLS, SD 27,17527.2k $3.4m $3.4m 0.18% Reduced -1.0k -1,000
84 Trilogy Capital Inc. 0.15% of their portfolio IRVINE, CA 26,24326.2k $3.3m $3.3m 0.15% Reduced -2.7k -2,674
85 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 26,00026.0k $3.3m $3.3m 0.00% New
86 MAGNOLIA CAPITAL ADVISORS LLC 0.83% of their portfolio RIDGELAND, MS 25,26825.3k $3.2m $3.2m 0.83% Added +2.1k +2,081
87 Foundations Investment Advisors, LLC 0.04% of their portfolio PHOENIX, AZ 24,43324.4k $3.1m $3.1m 0.04% Added +2.4k +2,446
88 Gunma Bank,Ltd. 0.95% of their portfolio GUNMA, M0 24,20024.2k $3.0m $3.0m 0.95% Reduced -25.8k -25,800
89 EQ LLC 0.98% of their portfolio BELLEVUE, WA 23,01223.0k $2.9m $2.9m 0.98% Reduced -1.4k -1,377
90 Bank Julius Baer & Co. Ltd, Zurich 0.01% of their portfolio ZURICH, V8 22,71322.7k $2.8m $2.8m 0.01% Added +300 +300
91 U.S. Capital Wealth Advisors, LLC 0.08% of their portfolio AUSTIN, TX 22,44822.4k $2.8m $2.8m 0.08% Reduced -1.6k -1,619
92 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 21,97122.0k $2.8m $2.8m 0.00% Reduced -1.8k -1,827
93 Advisory Services Network, LLC 0.04% of their portfolio ATLANTA, GA 20,68120.7k $2.6m $2.6m 0.04% Added +261 +261
94 MorganRosel Wealth Management, LLC 0.64% of their portfolio HIGHLANDS RANCH, CO 19,69119.7k $2.5m $2.5m 0.64% Added +2.1k +2,065
95 Apex Wealth Management, LLC 1.74% of their portfolio BEDFORD, NH 19,45819.5k $2.4m $2.4m 1.74% Added +103 +103
96 Cannon Financial Strategists, Inc. 0.35% of their portfolio ATHENS, GA 19,35419.4k $2.4m $2.4m 0.35% Added +28 +28
97 BARON SILVER STEVENS FINANCIAL ADVISORS, LLC 0.35% of their portfolio Boca Raton, FL 19,31419.3k $2.4m $2.4m 0.35% Reduced -2.9k -2,880
98 ELEVATION POINT WEALTH PARTNERS, LLC 0.16% of their portfolio DENVER, CO 18,91218.9k $2.4m $2.4m 0.16% Added +15.2k +15,239
99 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 18,82918.8k $2.2m $2.2m 0.01% Added +7.5k +7,522
100 Eagle Strategies LLC 0.31% of their portfolio NEW YORK, NY 18,57618.6k $2.3m $2.3m 0.31% Added +87 +87