Vault-13

ISHARES TR VLUE

MSCI USA VALUE · ETP · CUSIP 46432F388

625 institutional holders +70 vs Q1 2026
34,183,51834.2m shares reported held*
$6.8bnreported value*
109 new 186 added 207 reduced 36 sold out net sold ≈ $3.9bn (-19.3m 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 ($16.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $198.63. Options: 5 managers hold calls ($5.7m notional), 3 hold puts ($5.0m).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 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: 434Q4 25: 475Q1 26: 555Q2 26: 625625Q3 22Q3 23Q3 24Q3 25Q2 26
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
Q4 2025475
Q1 2026555
Q2 2026625

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 24: 132 bought or addedQ3 24: 208 cut or sold outQ4 24: 152 bought or addedQ4 24: 182 cut or sold outQ4 24Q1 25: 151 bought or addedQ1 25: 205 cut or sold outQ2 25: 150 bought or addedQ2 25: 207 cut or sold outQ2 25Q3 25: 170 bought or addedQ3 25: 193 cut or sold outQ4 25: 195 bought or addedQ4 25: 198 cut or sold outQ4 25Q1 26: 301 bought or addedQ1 26: 181 cut or sold outQ2 26: 295 bought or addedQ2 26: 243 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024132208
Q4 2024152182
Q1 2025151205
Q2 2025150207
Q3 2025170193
Q4 2025195198
Q1 2026301181
Q2 2026295243

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —Q1 26 calls: $0Q1 26 puts: $398.1kQ1 26P/C —Q2 26 calls: $5.7mQ2 26 puts: $5.0mQ2 26P/C 0.87
Numbers
QuarterCallsPutsP/C
Q3 2025$0$0—
Q4 2025$0$0—
Q1 2026$0$398.1k—
Q2 2026$5.7m$5.0m0.87

Biggest buyers

TWO SIGMA INVESTMENTS, LP New +347,900+347.9k
MAINSTAY CAPITAL MANAGEMENT LLC /ADV Added +321,596+321.6k
Marks Wealth, LLC Added +236,419+236.4k
MARSHALL WACE, LLP New +199,422+199.4k
AlphaCore Capital LLC Added +141,074+141.1k
GFS Advisors, LLC New +131,125+131.1k
Nan Shan Life Insurance Co., Ltd. New +128,980+129.0k
AdvisorShares Investments LLC New +110,611+110.6k
Caisse de depot et placement du Quebec New +110,469+110.5k
PRUDENTIAL PLC Added +106,200+106.2k

Biggest sellers

NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -19,725,283-19.7m
MASON STREET ADVISORS, LLC Sold out -288,200-288.2k
ENVESTNET ASSET MANAGEMENT INC Reduced -252,423-252.4k
BlackRock, Inc. Reduced -209,318-209.3k
Mason Investment Advisory Services, Inc. Reduced -173,829-173.8k
Matson Money. Inc. Reduced -169,733-169.7k
BANK OF AMERICA CORP /DE/ Reduced -130,779-130.8k
Qube Research & Technologies Ltd Reduced -109,250-109.2k
Stonehearth Capital Management, LLC Reduced -99,948-99.9k
RAYMOND JAMES FINANCIAL INC Reduced -98,806-98.8k

Biggest calls

CITADEL ADVISORS LLC New $1.8m8.9k shares
JANE STREET GROUP, LLC New $1.6m8.1k shares
Point72 Asset Management, L.P. New $1.3m6.6k shares
PEAK6 LLC New $619.4k3.1k shares
Belvedere Trading LLC New $359.7k1.8k shares

Biggest puts

JANE STREET GROUP, LLC New $3.4m17.0k shares
Point72 Asset Management, L.P. New $1.5m7.4k shares
Belvedere Trading LLC Reduced $99.9k500 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.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Mason Investment Advisory Services, Inc. 33.98% of their portfolio RESTON, VA 4,471,0564.5m $893.4m $893.4m 33.98% Reduced -173.8k -173,829
2 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.35% of their portfolio MILWAUKEE, WI 3,302,8803.3m $659.9m $659.9m 0.35% Reduced -19.7m -19,725,283
3 Matson Money. Inc. 12.72% of their portfolio MASON, OH 2,285,9252.3m $456.8m $456.8m 12.72% Reduced -169.7k -169,733
4 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,481,5071.5m $296.0m $296.0m 0.02% Reduced -130.8k -130,779
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,344,7911.3m $268.7m $268.7m 0.00% Reduced -209.3k -209,318
6 MERCER GLOBAL ADVISORS INC /ADV 0.28% of their portfolio DENVER, CO 1,127,6131.1m $225.3m $225.3m 0.28% Reduced -54.6k -54,636
7 Wharton Business Group, LLC 7.13% of their portfolio MALVERN, PA 1,066,7321.1m $213.1m $213.1m 7.13% Reduced -86.7k -86,740
8 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 1,033,8961.0m $206.6m $206.6m 0.05% Reduced -252.4k -252,423
9 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 981,271981.3k $196.1m $196.1m 0.04% Added +41.9k +41,912
10 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 924,975925.0k $184.8m $184.8m 0.01% Reduced -2.1k -2,109
11 FMR LLC 0.01% of their portfolio BOSTON, MA 788,426788.4k $157.5m $157.5m 0.01% Added +66.9k +66,933
12 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 678,701678.7k $136.3m $136.3m 0.01% Added +11.2k +11,244
13 MAINSTAY CAPITAL MANAGEMENT LLC /ADV 8.71% of their portfolio GRAND BLANC, MI 588,750588.8k $117.6m $117.6m 8.71% Added +321.6k +321,596
14 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 586,569586.6k $117.2m $117.2m 0.02% Reduced -31.7k -31,689
15 PNC Financial Services Group, Inc. 0.06% of their portfolio Pittsburgh, PA 557,547557.5k $111.4m $111.4m 0.06% Reduced -988 -988
16 Marks Wealth, LLC 23.42% of their portfolio ELLICOTT CITY, MD 541,454541.5k $108.2m $108.2m 23.42% Added +236.4k +236,419
17 Kathmere Capital Management, LLC 4.54% of their portfolio WAYNE, PA 427,319427.3k $85.4m $85.4m 4.54% Reduced -32.6k -32,568
18 Janney Montgomery Scott LLC 0.15% of their portfolio PHILADELPHIA, PA 398,981399.0k $79.7m $79.7m 0.15% Reduced -48.1k -48,080
19 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 347,900347.9k $69.5m $69.5m 0.05% New
20 PRUDENTIAL PLC 0.44% of their portfolio LONDON, X0 330,000330.0k $65.9m $65.9m 0.44% Added +106.2k +106,200
21 UBS Group AG 0.01% of their portfolio ZURICH, V8 328,620328.6k $65.7m $65.7m 0.01% Reduced -20.6k -20,623
22 Focus Partners Wealth 0.07% of their portfolio ST LOUIS, MO 319,562319.6k $63.9m $63.9m 0.07% Reduced -12.1k -12,118
23 MML INVESTORS SERVICES, LLC 0.12% of their portfolio SPRINGFIELD, MA 301,994302.0k $60.3m $60.3m 0.12% Reduced -7.0k -7,031
24 M&T Bank Corp 0.17% of their portfolio BUFFALO, NY 282,246282.2k $56.4m $56.4m 0.17% Reduced -31.2k -31,197
25 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 275,103275.1k $55.0m $55.0m 0.01% Added +14.6k +14,569
26 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 234,568234.6k $46.9m $46.9m 0.01% Reduced -71.4k -71,373
27 Mullooly Asset Management, Inc. 14.26% of their portfolio WALL TOWNSHIP, NJ 231,953232.0k $46.3m $46.3m 14.26% Reduced -11.8k -11,783
28 One Capital Management, LLC 0.87% of their portfolio WESTLAKE VILLAGE, CA 220,580220.6k $31.4m $31.4m 0.87% Unchanged
29 STATE OF MICHIGAN RETIREMENT SYSTEM 0.19% of their portfolio EAST LANSING, MI 218,300218.3k $43.6m $43.6m 0.19% Reduced -61.5k -61,500
30 TUDOR INVESTMENT CORP ET AL 0.18% of their portfolio STAMFORD, CT 217,534217.5k $43.5m $43.5m 0.18% Added +64.4k +64,358
31 MARSHALL WACE, LLP 0.03% of their portfolio LONDON, X0 199,422199.4k $39.8m $39.8m 0.03% New
32 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 185,025185.0k $37.0m $37.0m 0.04% Added +42.7k +42,719
33 Meridian Wealth Partners, LLC 4.12% of their portfolio EXTON, PA 170,213170.2k $34.0m $34.0m 4.12% Reduced -16.0k -16,021
34 Cetera Investment Advisers 0.03% of their portfolio SCHAUMBURG, IL 155,811155.8k $31.1m $31.1m 0.03% Reduced -38.6k -38,623
35 Insight Wealth Strategies, LLC 2.89% of their portfolio SAN RAMON, CA 151,486151.5k $29.6m $29.6m 2.89% Reduced -3.4k -3,385
36 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 150,258150.3k $30.1m $30.1m 0.01% Added +42.1k +42,101
37 COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio WALTHAM, MA 147,285147.3k $29.4m $29.4m 0.04% Reduced -686 -686
38 Elk River Wealth Management LLC 4.62% of their portfolio DENVER, CO 145,290145.3k $29.0m $29.0m 4.62% Reduced -25.9k -25,942
39 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 145,169145.2k $29.0m $29.0m 0.01% Reduced -98.8k -98,806
40 INTRUST BANK NA 2.12% of their portfolio WICHITA, KS 144,052144.1k $28.8m $28.8m 2.12% Reduced -30.5k -30,475
41 AlphaCore Capital LLC 0.52% of their portfolio LA JOLLA, CA 141,532141.5k $28.3m $28.3m 0.52% Added +141.1k +141,074
42 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 137,108137.1k $27.4m $27.4m 0.03% Added +86.5k +86,526
43 Stonehearth Capital Management, LLC 9.30% of their portfolio DANVERS, MA 136,475136.5k $27.3m $27.3m 9.30% Reduced -99.9k -99,948
44 Lido Advisors, LLC 0.10% of their portfolio Los Angeles, CA 135,522135.5k $27.1m $27.1m 0.10% Added +3.2k +3,186
45 GFS Advisors, LLC 0.01% of their portfolio HOUSTON, TX 131,125131.1k $274.6k $274.6k 0.01% New
46 Nan Shan Life Insurance Co., Ltd. 0.81% of their portfolio Taipei City, F5 128,980129.0k $25.8m $25.8m 0.81% New
47 Foster Group, Inc. 0.65% of their portfolio WEST DES MOINES, IA 121,806121.8k $24.3m $24.3m 0.65% Reduced -15.1k -15,107
48 Erste Asset Management GmbH 0.19% of their portfolio VIENNA, C4 120,600120.6k $24.2m $24.2m 0.19% Added +17.2k +17,200
49 Point72 Asset Management, L.P. 0.04% of their portfolio STAMFORD, CT 120,134120.1k $24.0m $24.0m 0.04% Added +74.4k +74,360
50 Integrated Wealth Concepts LLC 0.11% of their portfolio WALTHAM, MA 115,746115.7k $23.1m $23.1m 0.11% Added +2.1k +2,131
51 Avidian Wealth Enterprises, LLC 0.62% of their portfolio Houston, TX 112,651112.7k $22.5m $22.5m 0.62% Added +47.6k +47,560
52 AdvisorShares Investments LLC 2.67% of their portfolio BETHESDA, MD 110,611110.6k $22.1m $22.1m 2.67% New
53 Caisse de depot et placement du Quebec 0.03% of their portfolio Montreal, A8 110,469110.5k $22.1m $22.1m 0.03% New
54 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 108,424108.4k $21.7m $21.7m 0.00% Added +10.9k +10,927
55 BANK OF NOVA SCOTIA 0.03% of their portfolio TORONTO, A6 98,50098.5k $19.7m $19.7m 0.03% New
56 Cresset Asset Management, LLC 0.07% of their portfolio Chicago, IL 93,36693.4k $18.7m $18.7m 0.07% Added +2.8k +2,837
57 SIGNATUREFD, LLC 0.22% of their portfolio ATLANTA, GA 80,70380.7k $16.1m $16.1m 0.22% Reduced -68 -68
58 Merit Financial Group, LLC 0.10% of their portfolio ALPHARETTA, GA 80,65380.7k $16.1m $16.1m 0.10% Added +69.1k +69,087
59 Systelligence, LLC 2.63% of their portfolio BLOOMINGTON, MN 78,93278.9k $15.8m $15.8m 2.63% New
60 EFG International AG 0.27% of their portfolio Zurich, V8 74,81674.8k $14.9m $14.9m 0.27% Reduced -3.0k -2,971
61 TRB Wealth Management, LLC 1.93% of their portfolio HOUSTON, TX 72,47472.5k $14.5m $14.5m 1.93% Unchanged
62 BASSO CAPITAL MANAGEMENT, L.P. 3.39% of their portfolio STAMFORD, CT 68,95969.0k $13.8m $13.8m 3.39% New
63 Focus Partners Advisor Solutions, LLC 0.11% of their portfolio SAINT LOUIS, MO 65,47565.5k $13.1m $13.1m 0.11% Reduced -1.6k -1,576
64 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 65,28365.3k $13.0m $13.0m 0.01% Reduced -5.5k -5,479
65 OneDigital Investment Advisors LLC 0.11% of their portfolio OVERLAND PARK, KS 64,00364.0k $12.8m $12.8m 0.11% Added +2.8k +2,804
66 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 63,60863.6k $12.7m $12.7m 0.01% New
67 CFO4Life Group, LLC 1.70% of their portfolio COPPELL, TX 63,25063.2k $12.6m $12.6m 1.70% Reduced -31 -31
68 PARK AVENUE SECURITIES LLC 0.08% of their portfolio NEW YORK, NY 60,49060.5k $12.1m $12.1m 0.08% Reduced -12.2k -12,234
69 FIRST FINANCIAL BANK - TRUST DIVISION 0.86% of their portfolio HAMILTON, OH 60,24960.2k $12.0m $12.0m 0.86% Reduced -6.2k -6,240
70 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 58,08058.1k $11.6m $11.6m 0.01% Added +657 +657
71 Bleakley Financial Group, LLC 0.15% of their portfolio PARSIPPANY, NJ 57,87957.9k $11.6m $11.6m 0.15% Reduced -17.4k -17,352
72 Cerro Pacific Wealth Advisors LLC 2.48% of their portfolio San Luis Obispo, CA 54,96655.0k $11.0m $11.0m 2.48% Reduced -8.7k -8,703
73 IFP Advisors, Inc 0.18% of their portfolio TAMPA, FL 50,61950.6k $10.1m $10.1m 0.18% Reduced -701 -701
74 Addison Advisors LLC 4.36% of their portfolio MIDDLEBURY, VT 46,21946.2k $9.2m $9.2m 4.36% Reduced -68.6k -68,626
75 Aptus Capital Advisors, LLC 0.07% of their portfolio FAIRHOPE, AL 45,89245.9k $9.2m $9.2m 0.07% Added +478 +478
76 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 45,60445.6k $9.1m $9.1m 0.01% Reduced -109.2k -109,250
77 Parallel Advisors, LLC 0.14% of their portfolio SAN FRANCISCO, CA 45,05045.0k $9.0m $9.0m 0.14% Added +4.5k +4,472
78 Steward Partners Investment Advisory, LLC 0.05% of their portfolio STAMFORD, CT 44,99045.0k $9.0m $9.0m 0.05% Reduced -6.0k -6,036
79 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 43,10643.1k $8.6m $8.6m 0.01% Reduced -7.0k -7,023
80 ANDERSON HOAGLAND & CO 0.65% of their portfolio ST LOUIS, MO 41,63741.6k $8.3m $8.3m 0.65% Reduced -3.1k -3,101
81 WADDELL & ASSOCIATES, LLC 0.41% of their portfolio MEMPHIS, TN 41,41241.4k $8.3m $8.3m 0.41% Reduced -1.1k -1,099
82 Interchange Capital Partners, LLC 1.48% of their portfolio PITTSBURGH, PA 39,39639.4k $7.9m $7.9m 1.48% Added +1.0k +1,007
83 EVERGREEN CAPITAL MANAGEMENT LLC 0.14% of their portfolio Bellevue, WA 39,29539.3k $7.9m $7.9m 0.14% Added +1 +1
84 Well Done, LLC 1.05% of their portfolio HOLLAND, MI 39,13539.1k $7.8m $7.8m 1.05% Reduced -385 -385
85 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 38,47338.5k $7.7m $7.7m 0.01% Added +22.2k +22,191
86 Geneos Wealth Management Inc. 0.15% of their portfolio ENGLEWOOD, CO 37,65237.7k $7.5m $7.5m 0.15% Reduced -569 -569
87 Mariner, LLC 0.01% of their portfolio Overland Park, KS 36,78336.8k $7.3m $7.3m 0.01% Reduced -4.6k -4,616
88 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 36,67036.7k $7.3m $7.3m 0.00% Added +19.3k +19,300
89 Tennessee Valley Asset Management Partners 0.79% of their portfolio KNOXVILLE, TN 35,93635.9k $7.2m $7.2m 0.79% Added +987 +987
90 LCW Services, LLC 3.11% of their portfolio VIRGINIA BEACH, VA 35,76135.8k $7.1m $7.1m 3.11% Reduced -4.6k -4,552
91 Foundations Investment Advisors, LLC 0.07% of their portfolio PHOENIX, AZ 33,97534.0k $6.8m $6.8m 0.07% Added +7 +7
92 Tactive Advisors, LLC 1.64% of their portfolio Jacksonville, FL 33,33433.3k $6.7m $6.7m 1.64% Reduced -16.5k -16,526
93 Ocean Park Asset Management, LLC 0.32% of their portfolio SANTA MONICA, CA 32,98033.0k $6.6m $6.6m 0.32% New
94 PEDDOCK CAPITAL ADVISORS, LLC 1.30% of their portfolio BRAINTREE, MA 32,62132.6k $6.5m $6.5m 1.30% Added +472 +472
95 STEPHENS INC /AR/ 0.07% of their portfolio LITTLE ROCK, AR 32,31632.3k $6.5m $6.5m 0.07% Unchanged
96 Stratos Wealth Partners, LTD. 0.06% of their portfolio BEACHWOOD, OH 32,10332.1k $6.4m $6.4m 0.06% Added +30.6k +30,601
97 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 31,98532.0k $6.4m $6.4m 0.00% New
98 Arrow Investment Advisors, LLC 6.18% of their portfolio LAUREL, MD 31,94731.9k $6.4m $6.4m 6.18% Reduced -549 -549
99 Equitable Holdings, Inc. 0.04% of their portfolio NEW YORK, NY 31,70131.7k $6.3m $6.3m 0.04% Added +784 +784
100 Focus Financial Network, Inc. 0.19% of their portfolio MINNEAPOLIS, MN 31,11431.1k $6.2m $6.2m 0.19% Added +25 +25