Vault-13

ISHARES TR GARP

MSCI USA QUALITY · ETP · CUSIP 46436E403

122 institutional holders +29 vs Q3 2025
9,683,4639.7m shares reported held*
$659.5mreported value*
37 new 55 added 16 reduced 11 sold out net bought ≈ $178.0m (+2.6m 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. Holder counts are more reliable. Implied quarter-end price ≈ $68.11.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 5Q4 22: 5Q1 23: 5Q2 23: 5Q3 23: 7Q4 23: 11Q1 24: 14Q2 24: 22Q3 24: 32Q4 24: 46Q1 25: 62Q2 25: 76Q3 25: 93Q4 25: 122122Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 20225
Q4 20225
Q1 20235
Q2 20235
Q3 20237
Q4 202311
Q1 202414
Q2 202422
Q3 202432
Q4 202446
Q1 202562
Q2 202576
Q3 202593
Q4 2025122

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 9 bought or addedQ1 24: 3 cut or sold outQ2 24: 16 bought or addedQ2 24: 4 cut or sold outQ2 24Q3 24: 23 bought or addedQ3 24: 8 cut or sold outQ4 24: 36 bought or addedQ4 24: 5 cut or sold outQ4 24Q1 25: 53 bought or addedQ1 25: 10 cut or sold outQ2 25: 53 bought or addedQ2 25: 21 cut or sold outQ2 25Q3 25: 63 bought or addedQ3 25: 23 cut or sold outQ4 25: 92 bought or addedQ4 25: 27 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202493
Q2 2024164
Q3 2024238
Q4 2024365
Q1 20255310
Q2 20255321
Q3 20256323
Q4 20259227

Biggest buyers

GREAT VALLEY ADVISOR GROUP, INC. Added +300,649+300.6k
LPL Financial LLC Added +299,858+299.9k
MORGAN STANLEY Added +266,020+266.0k
RAYMOND JAMES FINANCIAL INC Added +258,462+258.5k
ENVESTNET ASSET MANAGEMENT INC Added +196,370+196.4k
MML INVESTORS SERVICES, LLC Added +192,460+192.5k
GOLDMAN SACHS GROUP INC Added +181,154+181.2k
Capital Analysts, LLC New +158,511+158.5k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +98,077+98.1k
Keystone Global Partners, LLC New +85,805+85.8k

Biggest sellers

VISTA INVESTMENT PARTNERS II, LLC Sold out -39,052-39.1k
Synergy Asset Management, LLC Sold out -37,866-37.9k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -27,248-27.2k
STIFEL FINANCIAL CORP Reduced -21,083-21.1k
Itau Unibanco Holding S.A. Sold out -16,170-16.2k
JANE STREET GROUP, LLC Sold out -10,311-10.3k
Steward Partners Investment Advisory, LLC Reduced -9,530-9.5k
WEALTHGARDEN F.S. LLC Sold out -9,487-9.5k
ROYAL BANK OF CANADA Reduced -7,757-7.8k
Stonebridge Wealth Management, LLC Reduced -4,774-4.8k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,315,9661.3m $89.6m $89.6m 0.02% Added +299.9k +299,858
2 Cambridge Investment Research Advisors, Inc. 0.10% of their portfolio FAIRFIELD, IA 529,616529.6k $36.1m $36.1m 0.10% Added +39.1k +39,115
3 Cetera Investment Advisers 0.04% of their portfolio SCHAUMBURG, IL 488,804488.8k $33.3m $33.3m 0.04% Added +28.0k +28,011
4 LANDAAS & CO /WI /ADV 6.65% of their portfolio MILWAUKEE, WI 443,970444.0k $30.2m $30.2m 6.65% Added +16.0k +15,991
5 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 437,642437.6k $29.8m $29.8m 0.01% Added +258.5k +258,462
6 INDEPENDENT FINANCIAL GROUP, LLC 0.56% of their portfolio SAN DIEGO, CA 370,196370.2k $25.2m $25.2m 0.56% Reduced -3.2k -3,221
7 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 359,262359.3k $24.5m $24.5m 0.00% Added +31.0k +30,986
8 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 340,758340.8k $23.2m $23.2m 0.01% Added +196.4k +196,370
9 GREAT VALLEY ADVISOR GROUP, INC. 0.43% of their portfolio WILMINGTON, DE 329,905329.9k $22.5m $22.5m 0.43% Added +300.6k +300,649
10 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 296,793296.8k $20.2m $20.2m 0.03% Reduced -27.2k -27,248
11 PARK NATIONAL CORP /OH/ 0.63% of their portfolio NEWARK, OH 295,367295.4k $20.1m $20.1m 0.63% Added +3.3k +3,344
12 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 266,021266.0k $18.1m $18.1m 0.00% Added +266.0k +266,020
13 MML INVESTORS SERVICES, LLC 0.04% of their portfolio SPRINGFIELD, MA 248,106248.1k $16.9m $16.9m 0.04% Added +192.5k +192,460
14 Planned Solutions, Inc. 5.18% of their portfolio FOLSOM, CA 235,258235.3k $16.0m $16.0m 5.18% Added +4.5k +4,474
15 VALLEY NATIONAL ADVISERS INC 2.17% of their portfolio BETHLEHEM, PA 230,248230.2k $15.7m $15.7m 2.17% Added +11.6k +11,609
16 ARQ WEALTH ADVISORS, LLC 4.10% of their portfolio SCOTTSDALE, AZ 223,117223.1k $15.2m $15.2m 4.10% Added +14.5k +14,536
17 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 205,800205.8k $14.0m $14.0m 0.01% Reduced -21.1k -21,083
18 B&D White Capital Company, LLC 1.60% of their portfolio Lakeway, TX 203,048203.0k $13.8m $13.8m 1.60% Added +1.5k +1,533
19 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 187,534187.5k $12.8m $12.8m 0.02% Added +31.1k +31,060
20 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 187,223187.2k $12.7m $12.7m 0.00% Added +181.2k +181,154
21 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 168,198168.2k $11.5m $11.5m 0.01% Added +98.1k +98,077
22 Capital Analysts, LLC 0.30% of their portfolio FORT WASHINGTON, PA 158,511158.5k $10.8m $10.8m 0.30% New
23 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 158,448158.4k $10.8m $10.8m 0.01% Reduced -3.2k -3,226
24 D'Orazio & Associates, Inc. 1.33% of their portfolio VIENNA, VA 152,367152.4k $10.4m $10.4m 1.33% Added +19.8k +19,842
25 Olde Wealth Management, LLC 3.09% of their portfolio SAMMAMISH, WA 147,659147.7k $10.1m $10.1m 3.09% Added +2.7k +2,708
26 Lakeshore Capital Group, Inc. 5.74% of their portfolio Rolling Meadows, IL 105,324105.3k $7.2m $7.2m 5.74% Added +3.6k +3,634
27 PRINCIPAL SECURITIES, INC. 0.10% of their portfolio DES MOINES, IA 99,45899.5k $6.8m $6.8m 0.10% Added +14.3k +14,302
28 CGN Advisors LLC 0.47% of their portfolio MANHATTAN, KS 86,91986.9k $5.9m $5.9m 0.47% Added +16.8k +16,752
29 Keystone Global Partners, LLC 2.57% of their portfolio DENVER, CO 85,80585.8k $5.8m $5.8m 2.57% New
30 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 77,43077.4k $5.3m $5.3m 0.00% Added +1.3k +1,331
31 Marshall & Sterling Wealth Advisors Inc. 3.03% of their portfolio POUGHKEEPSIE, NY 67,46867.5k $4.6m $4.6m 3.03% Added +935 +935
32 KESTRA PRIVATE WEALTH SERVICES, LLC 0.05% of their portfolio AUSTIN, TX 62,39262.4k $4.2m $4.2m 0.05% Added +2.2k +2,166
33 GW HENSSLER & ASSOCIATES LTD 0.20% of their portfolio KENNESAW, GA 60,03860.0k $4.1m $4.1m 0.20% New
34 OPTIMA CAPITAL LLC 1.74% of their portfolio PORTLAND, OR 58,93558.9k $4.0m $4.0m 1.74% New
35 Milestones Private Investment Advisors LLC 2.72% of their portfolio FAIRPORT, NY 58,04258.0k $4.0m $4.0m 2.72% Reduced -4.6k -4,619
36 WJ Wealth Management, LLC 1.68% of their portfolio GLENDALE, AZ 56,26356.3k $3.8m $3.8m 1.68% Reduced -656 -656
37 Merit Financial Group, LLC 0.03% of their portfolio ALPHARETTA, GA 55,71855.7k $3.8m $3.8m 0.03% New
38 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 50,95851.0k $3.5m $3.5m 0.00% Added +1.8k +1,841
39 WIN ADVISORS, INC 1.40% of their portfolio PALM BEACH GARDENS, FL 48,30148.3k $3.3m $3.3m 1.40% New
40 Gilbert Capital Group, Inc. 2.08% of their portfolio NORTH YARMOUTH, ME 40,66640.7k $2.8m $2.8m 2.08% New
41 Equitable Holdings, Inc. 0.02% of their portfolio NEW YORK, NY 39,45239.5k $2.7m $2.7m 0.02% Added +12.8k +12,750
42 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 36,30736.3k $2.5m $2.5m 0.01% Added +18.2k +18,179
43 Certified Advisory Corp 0.22% of their portfolio ALTAMONTE SPRINGS, FL 35,74535.7k $2.4m $2.4m 0.22% New
44 Stonebridge Wealth Management, LLC 1.92% of their portfolio OAK BROOK, IL 29,88929.9k $2.0m $2.0m 1.92% Reduced -4.8k -4,774
45 CALTON & ASSOCIATES, INC. 0.28% of their portfolio Tampa, FL 27,74727.7k $1.9m $1.9m 0.28% Added +7.6k +7,618
46 UPTICK PARTNERS, LLC 0.37% of their portfolio NACOGDOCHES, TX 25,20325.2k $1.7m $1.7m 0.37% New
47 Cedar Wealth Management, LLC 0.50% of their portfolio LA JOLLA, CA 24,40824.4k $1.7m $1.7m 0.50% Added +14.6k +14,603
48 LongView Wealth Management 0.40% of their portfolio ATLANTA, GA 23,79323.8k $1.7m $1.7m 0.40% Added +4.8k +4,840
49 LaSalle St. Investment Advisors, LLC 0.24% of their portfolio ELMHURST, IL 21,89221.9k $1.5m $1.5m 0.24% Added +3.8k +3,793
50 LEAVELL INVESTMENT MANAGEMENT, INC. 0.06% of their portfolio MOBILE, AL 20,67720.7k $1.4m $1.4m 0.06% Added +3.9k +3,873
51 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.07% of their portfolio CEDAR RAPIDS, IA 20,37720.4k $1.4m $1.4m 0.07% Added +10.9k +10,925
52 THOROUGHBRED FINANCIAL SERVICES, LLC 0.08% of their portfolio BRENTWOOD, TN 19,84919.8k $1.4m $1.4m 0.08% Added +1.1k +1,058
53 Foundations Investment Advisors, LLC 0.02% of their portfolio PHOENIX, AZ 19,59619.6k $1.3m $1.3m 0.02% Added +835 +835
54 ADAPT WEALTH ADVISORS, LLC 0.44% of their portfolio ATLANTA, GA 18,95919.0k $1.3m $1.3m 0.44% Added +3.4k +3,401
55 Dynamic Advisor Solutions LLC 0.04% of their portfolio PHOENIX, AZ 18,76418.8k $1.3m $1.3m 0.04% Added +28 +28
56 Disciplined Investments, LLC 0.44% of their portfolio TULSA, OK 16,76616.8k $1.1m $1.1m 0.44% Unchanged
57 Sonoma Allocations LLC 0.38% of their portfolio SANTA ROSA, CA 16,34916.3k $1.1m $1.1m 0.38% Added +2.8k +2,828
58 Keating Financial Advisory Services, Inc. 0.13% of their portfolio MANHATTAN, KS 14,30314.3k $974.0k $974.0k 0.13% First filing
59 Saxony Capital Management, LLC 0.53% of their portfolio ST. LOUIS, MO 12,66312.7k $862.4k $862.4k 0.53% Added +6.4k +6,356
60 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 12,00012.0k $817.2k $817.2k 0.00% New
61 Spire Wealth Management 0.03% of their portfolio MCLEAN, VA 11,81611.8k $804.7k $804.7k 0.03% Added +253 +253
62 Golden State Wealth Management, LLC 0.08% of their portfolio SANTA ANA, CA 11,05011.1k $752.6k $752.6k 0.08% Added +952 +952
63 Stratos Wealth Advisors, LLC 0.03% of their portfolio BEACHWOOD, OH 10,37810.4k $706.8k $706.8k 0.03% New
64 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 10,27010.3k $699.4k $699.4k 0.00% Reduced -556 -556
65 Breakwater Capital Group 0.09% of their portfolio PARAMUS, NJ 9,1229.1k $621.2k $621.2k 0.09% New
66 KEYVANTAGE WEALTH, LLC 0.26% of their portfolio BETHLEHEM, PA 8,9979.0k $612.7k $612.7k 0.26% Reduced -612 -612
67 Archer Investment Management, LLC 0.32% of their portfolio AUSTIN, TX 8,7678.8k $597.0k $597.0k 0.32% New
68 FLOW TRADERS U.S. LLC 0.02% of their portfolio NEW YORK, NY 8,0728.1k $550.0k $550.0k 0.02% New
69 TWO SIGMA SECURITIES, LLC 0.07% of their portfolio NEW YORK, NY 7,8757.9k $536.3k $536.3k 0.07% New
70 FLAGSHIP WEALTH ADVISORS, LLC 0.15% of their portfolio WAKEFIELD, MA 7,5007.5k $510.8k $510.8k 0.15% Unchanged
71 Kingsview Wealth Management, LLC 0.01% of their portfolio GRANTS PASS, OR 7,4477.4k $507.2k $507.2k 0.01% Reduced -372 -372
72 FISCHER INVESTMENT STRATEGIES, LLC 0.29% of their portfolio Westlake Village, CA 7,4257.4k $505.6k $505.6k 0.29% New
73 MKT Advisors LLC 0.17% of their portfolio CARLSBAD, CA 7,2437.2k $500.9k $500.9k 0.17% New
74 Compound Planning, Inc. 0.01% of their portfolio NEW YORK, NY 6,9406.9k $472.6k $472.6k 0.01% New
75 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 6,9356.9k $472.3k $472.3k 0.00% New
76 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 6,5356.5k $445.1k $445.1k 0.01% Reduced -1.8k -1,755
77 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 6,3366.3k $444.7k $444.7k 0.00% Added +2.5k +2,456
78 KANE INVESTMENT MANAGEMENT, INC. 0.21% of their portfolio LOS GATOS, CA 6,2676.3k $426.8k $426.8k 0.21% Added +201 +201
79 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 5,9305.9k $403.8k $403.8k 0.00% New
80 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 5,7615.8k $392.3k $392.3k 0.00% Added +6 +6
81 GWN SECURITIES INC. 0.08% of their portfolio Palm Beach Gardens, FL 5,5205.5k $375.9k $375.9k 0.08% Reduced -98 -98
82 Csenge Advisory Group 0.02% of their portfolio CLEARWATER, FL 4,9354.9k $336.1k $336.1k 0.02% Unchanged
83 Thompson David Blair 0.19% of their portfolio CHARLOTTE, NC 4,8184.8k $328.1k $328.1k 0.19% First filing
84 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 4,4874.5k $305.6k $305.6k 0.00% New
85 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,3274.3k $294.7k $294.7k 0.00% Added +51 +51
86 Prospera Financial Services Inc 0.00% of their portfolio Dallas, TX 4,1274.1k $281.0k $281.0k 0.00% New
87 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 4,1254.1k $281.0k $281.0k 0.00% New
88 Focus Partners Advisor Solutions, LLC 0.00% of their portfolio SAINT LOUIS, MO 4,0434.0k $275.3k $275.3k 0.00% New
89 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 3,8703.9k $263.5k $263.5k 0.00% Reduced -80 -80
90 Key Client Fiduciary Advisors, LLC 0.09% of their portfolio Fairfield, NJ 3,7253.7k $253.7k $253.7k 0.09% New
91 Ring Mountain Capital, LLC 0.11% of their portfolio TIBURON, CA 3,2143.2k $223.0k $223.0k 0.11% Added +7 +7
92 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 3,1633.2k $215.4k $215.4k 0.00% Added +387 +387
93 Trexquant Investment LP 0.00% of their portfolio STAMFORD, CT 3,1033.1k $211.3k $211.3k 0.00% New
94 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 2,4462.4k $166.6k $166.6k 0.00% Added +1.1k +1,093
95 Wagner Wealth Management, LLC 0.03% of their portfolio GREENVILLE, SC 2,2882.3k $155.8k $155.8k 0.03% Unchanged
96 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,2382.2k $152.4k $152.4k 0.00% Added +996 +996
97 FMR LLC 0.00% of their portfolio BOSTON, MA 1,8491.8k $125.9k $125.9k 0.00% Added +235 +235
98 Comprehensive Financial Planning, Inc./PA 0.08% of their portfolio EAST PETERSBURG, PA 1,8161.8k $123.7k $123.7k 0.08% New
99 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,6651.7k $113.4k $113.4k 0.00% Added +419 +419
100 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 1,4341.4k $97.6k $97.6k 0.00% Reduced -74 -74