Vault-13

ISHARES TR MTUM

MSCI USA MMENTM · ETP · CUSIP 46432F396

962 institutional holders +75 vs Q1 2025
70,822,52970.8m shares reported held*
$17.0bnreported value*
115 new 357 added 332 reduced 50 sold out net bought ≈ $1.4bn (+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 ($10.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $240.19. Options: 9 managers hold calls ($54.8m notional), 17 hold puts ($269.6m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 613Q4 22: 766Q1 23: 705Q2 23: 649Q3 23: 621Q4 23: 641Q1 24: 682Q2 24: 696Q3 24: 703Q4 24: 873Q1 25: 887Q2 25: 962962Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022613
Q4 2022766
Q1 2023705
Q2 2023649
Q3 2023621
Q4 2023641
Q1 2024682
Q2 2024696
Q3 2024703
Q4 2024873
Q1 2025887
Q2 2025962

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q3 23: 182 bought or addedQ3 23: 383 cut or sold outQ4 23: 189 bought or addedQ4 23: 370 cut or sold outQ4 23Q1 24: 300 bought or addedQ1 24: 317 cut or sold outQ2 24: 268 bought or addedQ2 24: 365 cut or sold outQ2 24Q3 24: 255 bought or addedQ3 24: 353 cut or sold outQ4 24: 468 bought or addedQ4 24: 230 cut or sold outQ4 24Q1 25: 434 bought or addedQ1 25: 351 cut or sold outQ2 25: 472 bought or addedQ2 25: 382 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023182383
Q4 2023189370
Q1 2024300317
Q2 2024268365
Q3 2024255353
Q4 2024468230
Q1 2025434351
Q2 2025472382

Calls vs puts

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

CallsPuts
$0$200m$400m$600m$800mQ3 24 calls: $53.9mQ3 24 puts: $157.5mQ3 24P/C 2.92Q4 24 calls: $41.9mQ4 24 puts: $780.1mQ4 24P/C 18.61Q1 25 calls: $203.9mQ1 25 puts: $106.5mQ1 25P/C 0.52Q2 25 calls: $54.8mQ2 25 puts: $269.6mQ2 25P/C 4.92
Numbers
QuarterCallsPutsP/C
Q3 2024$53.9m$157.5m2.92
Q4 2024$41.9m$780.1m18.61
Q1 2025$203.9m$106.5m0.52
Q2 2025$54.8m$269.6m4.92

Biggest buyers

ENVESTNET ASSET MANAGEMENT INC Added +1,094,104+1.1m
CHURCHILL MANAGEMENT Corp New +916,637+916.6k
Orgel Wealth Management, LLC New +659,781+659.8k
ROYAL BANK OF CANADA Added +576,249+576.2k
PARK AVENUE SECURITIES LLC New +457,403+457.4k
FMR LLC Added +388,636+388.6k
LPL Financial LLC Added +341,993+342.0k
MORGAN STANLEY Added +296,339+296.3k
Clark Capital Management Group, Inc. New +287,510+287.5k
TWO SIGMA INVESTMENTS, LP New +227,959+228.0k

Biggest sellers

CITIGROUP INC Reduced -444,947-444.9k
BNP PARIBAS FINANCIAL MARKETS Reduced -427,125-427.1k
BlackRock, Inc. Reduced -113,774-113.8k
STATE OF MICHIGAN RETIREMENT SYSTEM Reduced -89,000-89.0k
FRANKLIN RESOURCES INC Reduced -81,556-81.6k
Savant Capital, LLC Reduced -62,922-62.9k
GeoWealth Management, LLC Reduced -58,691-58.7k
OVERSEA-CHINESE BANKING Corp Ltd Sold out -56,981-57.0k
Ameritas Advisory Services, LLC Reduced -56,412-56.4k
Dynasty Wealth Management, LLC Sold out -56,095-56.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $18.5m77.0k shares
Cubist Systematic Strategies, LLC Added $12.2m50.7k shares
CITADEL ADVISORS LLC Reduced $10.4m43.3k shares
Twin Tree Management, LP New $5.0m20.9k shares
Squarepoint Ops LLC Reduced $2.6m10.7k shares
WOLVERINE TRADING, LLC Reduced $2.2m9.2k shares
JANE STREET GROUP, LLC Reduced $2.0m8.5k shares
Parallax Volatility Advisers, L.P. Reduced $1.9m7.9k shares
Belvedere Trading LLC Unchanged $24.0k100 shares

Biggest puts

JANE STREET GROUP, LLC Added $60.3m250.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $50.8m211.4k shares
MILLENNIUM MANAGEMENT LLC New $48.1m200.0k shares
AYAL Capital Advisors Ltd New $34.8m145.0k shares
CITADEL ADVISORS LLC Added $16.5m68.7k shares
Cubist Systematic Strategies, LLC Added $13.4m55.6k shares
Balyasny Asset Management L.P. New $12.0m50.0k shares
Waratah Capital Advisors Ltd. New $12.0m50.0k shares
Schonfeld Strategic Advisors LLC New $9.3m38.5k shares
Squarepoint Ops LLC Reduced $2.6m10.7k 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 2026-05-06 6.5% +1.1 pts 5.5m≈ $1.9bn 2026-05-06

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 0.89% of their portfolio Berwyn, PA 12,639,70212.6m $3.0bn $3.0bn 0.89% Added +1.1m +1,094,104
2 MERCER GLOBAL ADVISORS INC /ADV 4.09% of their portfolio DENVER, CO 7,583,4567.6m $1.8bn $1.8bn 4.09% Added +160.4k +160,427
3 FMR LLC 0.04% of their portfolio BOSTON, MA 3,233,3033.2m $777.0m $777.0m 0.04% Added +388.6k +388,636
4 RAYMOND JAMES FINANCIAL INC 0.24% of their portfolio ST. PETERSBURG, FL 2,942,4002.9m $707.1m $707.1m 0.24% Added +12.5k +12,526
5 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 2,521,0732.5m $605.9m $605.9m 0.04% Added +296.3k +296,339
6 LPL Financial LLC 0.18% of their portfolio FORT MILL, SC 2,302,1032.3m $553.2m $553.2m 0.18% Added +342.0k +341,993
7 ASSETMARK, INC 1.05% of their portfolio CONCORD, CA 1,855,6841.9m $446.0m $446.0m 1.05% Added +42.9k +42,864
8 BlackRock, Inc. 0.01% of their portfolio New York, NY 1,234,3641.2m $296.6m $296.6m 0.01% Reduced -113.8k -113,774
9 AMERIPRISE FINANCIAL INC 0.07% of their portfolio MINNEAPOLIS, MN 1,231,0421.2m $296.0m $296.0m 0.07% Added +168.3k +168,340
10 Blue Trust, Inc. 3.43% of their portfolio BRENTWOOD, TN 1,210,4781.2m $290.9m $290.9m 3.43% Added +8.5k +8,459
11 STATE OF MICHIGAN RETIREMENT SYSTEM 1.50% of their portfolio EAST LANSING, MI 1,206,0901.2m $289.8m $289.8m 1.50% Reduced -89.0k -89,000
12 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,144,1191.1m $275.0m $275.0m 0.02% Added +83.7k +83,739
13 Cerity Partners LLC 0.48% of their portfolio NEW YORK, NY 1,122,7221.1m $269.8m $269.8m 0.48% Added +51.6k +51,616
14 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 1,077,8461.1m $259.0m $259.0m 0.03% Added +576.2k +576,249
15 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 5.61% of their portfolio Seattle, WA 1,031,2751.0m $247.8m $247.8m 5.61% Added +11.4k +11,371
16 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.40% of their portfolio PLYMOUTH, MN 1,018,8531.0m $243.9m $243.9m 0.40% Added +93.3k +93,297
17 CHURCHILL MANAGEMENT Corp 2.39% of their portfolio Los Angeles, CA 916,637916.6k $220.3m $220.3m 2.39% New
18 CWM, LLC 0.76% of their portfolio OMAHA, NE 899,569899.6k $216.2m $216.2m 0.76% Reduced -17.8k -17,819
19 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 868,884868.9k $208.8m $208.8m 0.05% Added +164.3k +164,333
20 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 816,852816.9k $196.3m $196.3m 0.01% Reduced -23.6k -23,641
21 Corient Private Wealth LP 0.26% of their portfolio MIAMI, FL 815,925815.9k $196.1m $196.1m 0.26% Added +63.2k +63,227
22 UBS Group AG 0.04% of their portfolio ZURICH, V8 788,870788.9k $189.6m $189.6m 0.04% Added +7.8k +7,802
23 Orgel Wealth Management, LLC 3.82% of their portfolio ALTOONA, WI 659,781659.8k $158.6m $158.6m 3.82% New
24 OSAIC HOLDINGS, INC. 0.21% of their portfolio SCOTTSDALE, AZ 517,284517.3k $120.4m $120.4m 0.21% Added +193.3k +193,332
25 PNC Financial Services Group, Inc. 0.08% of their portfolio Pittsburgh, PA 502,479502.5k $120.8m $120.8m 0.08% Reduced -234 -234
26 Savant Capital, LLC 0.83% of their portfolio ROCKFORD, IL 482,449482.4k $115.9m $115.9m 0.83% Reduced -62.9k -62,922
27 Envestnet Portfolio Solutions, Inc. 0.42% of their portfolio BERWYN, PA 474,901474.9k $114.1m $114.1m 0.42% Reduced -31.1k -31,143
28 PARK AVENUE SECURITIES LLC 1.01% of their portfolio NEW YORK, NY 457,403457.4k $109.9m $109.9m 1.01% New
29 CITIGROUP INC 0.08% of their portfolio NEW YORK, NY 456,395456.4k $109.7m $109.7m 0.08% Reduced -444.9k -444,947
30 Cetera Investment Advisers 0.18% of their portfolio SCHAUMBURG, IL 440,080440.1k $105.8m $105.8m 0.18% Added +14.1k +14,094
31 Janney Montgomery Scott LLC 0.27% of their portfolio PHILADELPHIA, PA 433,871433.9k $104.3m $104.3m 0.27% Reduced -2.7k -2,709
32 AdvisorShares Investments LLC 18.68% of their portfolio BETHESDA, MD 431,238431.2k $103.6m $103.6m 18.68% Added +162.2k +162,186
33 MML INVESTORS SERVICES, LLC 0.30% of their portfolio SPRINGFIELD, MA 429,174429.2k $103.1m $103.1m 0.30% Added +57.6k +57,560
34 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 402,700402.7k $96.8m $96.8m 0.02% Added +114.5k +114,454
35 Arizona PSPRS Trust 2.87% of their portfolio PHOENIX, AZ 359,227359.2k $86.3m $86.3m 2.87% Added +728 +728
36 COMMONWEALTH EQUITY SERVICES, LLC 0.11% of their portfolio WALTHAM, MA 355,181355.2k $85.4m $85.4m 0.11% Added +99 +99
37 Foundations Investment Advisors, LLC 1.27% of their portfolio PHOENIX, AZ 333,729333.7k $80.2m $80.2m 1.27% Reduced -33.2k -33,201
38 High Probability Advisors, LLC 11.29% of their portfolio Pittsford, NY 314,016314.0k $75.5m $75.5m 11.29% Added +17.5k +17,537
39 Foster Group, Inc. 2.46% of their portfolio WEST DES MOINES, IA 299,034299.0k $71.9m $71.9m 2.46% Reduced -54 -54
40 Clark Capital Management Group, Inc. 0.48% of their portfolio PHILADELPHIA, PA 287,510287.5k $69.1m $69.1m 0.48% New
41 OneDigital Investment Advisors LLC 0.72% of their portfolio OVERLAND PARK, KS 268,537268.5k $64.5m $64.5m 0.72% Reduced -28.1k -28,109
42 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.04% of their portfolio MILWAUKEE, WI 247,426247.4k $59.5m $59.5m 0.04% Added +2.8k +2,785
43 TWO SIGMA INVESTMENTS, LP 0.10% of their portfolio NEW YORK, NY 227,959228.0k $54.8m $54.8m 0.10% New
44 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 220,966221.0k $53.1m $53.1m 0.05% Added +28.3k +28,273
45 Symmetry Partners, LLC 6.53% of their portfolio GLASTONBURY, CT 220,864220.9k $53.1m $53.1m 6.53% Added +15.8k +15,774
46 Strategic Financial Services, Inc. 2.84% of their portfolio UTICA, NY 219,357219.4k $52.7m $52.7m 2.84% Reduced -2.2k -2,248
47 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 219,172219.2k $52.7m $52.7m 0.01% Added +4.1k +4,086
48 BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio PARIS, I0 215,369215.4k $51.8m $51.8m 0.04% Reduced -427.1k -427,125
49 NewEdge Advisors, LLC 0.26% of their portfolio NEW ORLEANS, LA 212,431212.4k $51.1m $51.1m 0.26% Reduced -2.6k -2,565
50 Armbruster Capital Management, Inc. 9.06% of their portfolio PITTSFORD, NY 208,216208.2k $50.0m $50.0m 9.06% Added +2.4k +2,448
51 KEYBANK NATIONAL ASSOCIATION/OH 0.18% of their portfolio BROOKLYN, OH 201,067201.1k $48.3m $48.3m 0.18% Reduced -3.4k -3,417
52 Cambridge Investment Research Advisors, Inc. 0.13% of their portfolio FAIRFIELD, IA 177,163177.2k $42.6m $42.6m 0.13% Added +37.0k +36,955
53 Kathmere Capital Management, LLC 3.26% of their portfolio WAYNE, PA 175,869175.9k $42.3m $42.3m 3.26% Reduced -4.1k -4,066
54 Apella Capital, LLC 1.13% of their portfolio WEST HARTFORD, CT 175,423175.4k $41.9m $41.9m 1.13% Reduced -27.7k -27,672
55 JB Capital LLC 1.84% of their portfolio WETHERSFIELD, CT 158,024158.0k $38.0m $38.0m 1.84% Reduced -2.7k -2,658
56 Provida Pension Fund Administrator 0.66% of their portfolio LAS CONDES, SANTIAGO, F3 151,187151.2k $36.4m $36.4m 0.66% Added +109.5k +109,540
57 Orion Porfolio Solutions, LLC 0.31% of their portfolio OMAHA, NE 150,905150.9k $36.3m $36.3m 0.31% Added +124.6k +124,622
58 Kestra Investment Management, LLC 0.52% of their portfolio AUSTIN, TX 146,737146.7k $34.0m $34.0m 0.52% Added +78.6k +78,585
59 Sanctuary Advisors, LLC 0.21% of their portfolio INDIANAPOLIS, IN 142,728142.7k $34.3m $34.3m 0.21% Reduced -15.1k -15,059
60 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 137,642137.6k $32.7m $32.7m 0.02% Added +27.8k +27,798
61 Mullooly Asset Management, Inc. 13.75% of their portfolio WALL TOWNSHIP, NJ 136,262136.3k $32.7m $32.7m 13.75% Added +140 +140
62 Integrated Wealth Concepts LLC 0.33% of their portfolio WALTHAM, MA 135,967136.0k $32.7m $32.7m 0.33% Added +3.7k +3,684
63 1900 WEALTH MANAGEMENT LLC 2.46% of their portfolio SAN ANTONIO, TX 135,378135.4k $32.5m $32.5m 2.46% Reduced -1.8k -1,750
64 Ameritas Advisory Services, LLC 1.67% of their portfolio Lincoln, NE 133,387133.4k $32.1m $32.1m 1.67% Reduced -56.4k -56,412
65 Stonehearth Capital Management, LLC 12.90% of their portfolio DANVERS, MA 129,658129.7k $31.2m $31.2m 12.90% Reduced -11.5k -11,454
66 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.25% of their portfolio IRVING, TX 129,350129.3k $31.1m $31.1m 0.25% Reduced -6.0k -6,048
67 Acropolis Investment Management, LLC 1.70% of their portfolio ST. LOUIS, MO 128,846128.8k $31.0m $31.0m 1.70% Added +2.2k +2,183
68 Qube Research & Technologies Ltd 0.04% of their portfolio LONDON, X0 127,461127.5k $30.6m $30.6m 0.04% Added +107.7k +107,665
69 Merit Financial Group, LLC 0.34% of their portfolio ALPHARETTA, GA 125,976126.0k $30.3m $30.3m 0.34% Added +27.8k +27,830
70 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 118,764118.8k $28.5m $28.5m 0.04% Added +11.3k +11,321
71 New York Life Investment Management LLC 0.26% of their portfolio New York, NY 115,371115.4k $27.7m $27.7m 0.26% Reduced -10.6k -10,585
72 Sanchez Wealth Management Group 6.52% of their portfolio JACKSONVILLE, FL 112,547112.5k $27.0m $27.0m 6.52% Added +4.8k +4,795
73 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 112,416112.4k $27.0m $27.0m 0.03% Added +58.6k +58,594
74 Private Advisor Group, LLC 0.14% of their portfolio MORRISTOWN, NJ 107,245107.2k $25.8m $25.8m 0.14% Reduced -4.6k -4,622
75 Sequoia Financial Advisors, LLC 0.18% of their portfolio Akron, OH 106,754106.8k $25.7m $25.7m 0.18% Reduced -33.1k -33,149
76 OPPENHEIMER & CO INC 0.33% of their portfolio NEW YORK, NY 102,713102.7k $24.7m $24.7m 0.33% Reduced -500 -500
77 Baird Financial Group, Inc. 0.04% of their portfolio MILWAUKEE, WI 101,660101.7k $24.4m $24.4m 0.04% Added +2.5k +2,544
78 CAPTRUST FINANCIAL ADVISORS 0.05% of their portfolio RALEIGH, NC 101,159101.2k $24.3m $24.3m 0.05% Reduced -379 -379
79 Trinity Wealth Management, LLC 9.31% of their portfolio BERWYN, PA 97,56097.6k $23.4m $23.4m 9.31% Added +11.0k +11,043
80 Mariner, LLC 0.03% of their portfolio Overland Park, KS 97,41097.4k $23.4m $23.4m 0.03% Added +27.1k +27,102
81 Bell Investment Advisors, Inc 4.02% of their portfolio ORINDA, CA 97,25597.3k $23.4m $23.4m 4.02% Added +2.7k +2,665
82 AE Wealth Management LLC 0.17% of their portfolio TOPEKA, KS 95,87695.9k $23.0m $23.0m 0.17% Added +3.0k +3,008
83 COBBLESTONE CAPITAL ADVISORS LLC /NY/ 1.16% of their portfolio ROCHESTER, NY 94,09794.1k $22.6m $22.6m 1.16% Reduced -43.2k -43,192
84 Atria Investments, Inc 0.26% of their portfolio Charlotte, NC 92,75892.8k $22.3m $22.3m 0.26% Added +3.0k +2,956
85 Sensible Financial Planning & Management, LLC. 4.19% of their portfolio WALTHAM, MA 91,77791.8k $22.1m $22.1m 4.19% Reduced -4.1k -4,076
86 Lido Advisors, LLC 0.12% of their portfolio Los Angeles, CA 91,70691.7k $22.0m $22.0m 0.12% Reduced -6.4k -6,398
87 M&T Bank Corp 0.07% of their portfolio BUFFALO, NY 90,56990.6k $21.8m $21.8m 0.07% Added +12.9k +12,946
88 Advocacy Wealth Management, LLC 1.30% of their portfolio ATLANTA, GA 88,41688.4k $21.2m $21.2m 1.30% Added +4.8k +4,752
89 Kestra Advisory Services, LLC 0.10% of their portfolio AUSTIN, TX 88,01188.0k $21.2m $21.2m 0.10% Added +6.7k +6,664
90 Meredith Wealth Planning 7.61% of their portfolio MARYVILLE, IL 87,15187.2k $20.9m $20.9m 7.61% Added +4.1k +4,137
91 Glenview Trust Co 0.34% of their portfolio Louisville, KY 82,06882.1k $19.7m $19.7m 0.34% Reduced -2.2k -2,169
92 Invst, LLC 2.45% of their portfolio INDIANAPOLIS, IN 81,72481.7k $19.6m $19.6m 2.45% Reduced -21.3k -21,298
93 OPPENHEIMER ASSET MANAGEMENT INC. 0.21% of their portfolio NEW YORK, NY 77,22377.2k $18.6m $18.6m 0.21% New
94 PRINCIPAL SECURITIES, INC. 0.35% of their portfolio DES MOINES, IA 76,49776.5k $18.4m $18.4m 0.35% Added +63.6k +63,649
95 US BANCORP \DE\ 0.02% of their portfolio MINNEAPOLIS, MN 76,01576.0k $18.3m $18.3m 0.02% Added +483 +483
96 Convergence Financial, LLC 3.03% of their portfolio COLUMBIA, MO 73,19173.2k $17.6m $17.6m 3.03% Added +5.1k +5,110
97 PRUDENT INVESTORS NETWORK, INC. 4.72% of their portfolio LAKE FOREST, CA 72,83072.8k $17.5m $17.5m 4.72% Added +414 +414
98 Tower Research Capital LLC (TRC) 0.47% of their portfolio NEW YORK, NY 72,37472.4k $17.4m $17.4m 0.47% Added +72.4k +72,370
99 SAGESPRING WEALTH PARTNERS, LLC 0.37% of their portfolio FRANKLIN, TN 71,59271.6k $17.2m $17.2m 0.37% Reduced -6.3k -6,311
100 OXFORD FINANCIAL GROUP, LTD. LLC 1.02% of their portfolio INDIANAPOLIS, IN 71,41171.4k $17.2m $17.2m 1.02% Reduced -3.9k -3,894