Vault-13

ISHARES TR GOVZ

ISHARES 25+ YR T · ETP · CUSIP 46436E577

35 institutional holders +5 vs Q3 2025
8,645,7628.6m shares reported held*
$80.1mreported value*
9 new 11 added 10 reduced 6 sold out net bought ≈ $3.9m (+422.7k 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 ≈ $9.27. Options: 1 managers hold calls ($240.5k notional), 1 hold puts ($645.6k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 15Q4 22: 17Q1 23: 19Q2 23: 17Q3 23: 24Q4 23: 26Q1 24: 25Q2 24: 28Q3 24: 38Q4 24: 38Q1 25: 36Q2 25: 35Q3 25: 30Q4 25: 3535Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202215
Q4 202217
Q1 202319
Q2 202317
Q3 202324
Q4 202326
Q1 202425
Q2 202428
Q3 202438
Q4 202438
Q1 202536
Q2 202535
Q3 202530
Q4 202535

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 24: 11 bought or addedQ1 24: 11 cut or sold outQ2 24: 14 bought or addedQ2 24: 12 cut or sold outQ2 24Q3 24: 31 bought or addedQ3 24: 5 cut or sold outQ4 24: 18 bought or addedQ4 24: 18 cut or sold outQ4 24Q1 25: 17 bought or addedQ1 25: 23 cut or sold outQ2 25: 11 bought or addedQ2 25: 23 cut or sold outQ2 25Q3 25: 18 bought or addedQ3 25: 17 cut or sold outQ4 25: 20 bought or addedQ4 25: 16 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20241111
Q2 20241412
Q3 2024315
Q4 20241818
Q1 20251723
Q2 20251123
Q3 20251817
Q4 20252016

Calls vs puts

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

CallsPuts
$0$200k$400k$600k$800kQ1 25 calls: $381.0kQ1 25 puts: $591.6kQ1 25P/C 1.55Q2 25 calls: $273.6kQ2 25 puts: $377.3kQ2 25P/C 1.38Q3 25 calls: $0Q3 25 puts: $299.7kQ3 25P/C —Q4 25 calls: $240.5kQ4 25 puts: $645.6kQ4 25P/C 2.68
Numbers
QuarterCallsPutsP/C
Q1 2025$381.0k$591.6k1.55
Q2 2025$273.6k$377.3k1.38
Q3 2025$0$299.7k—
Q4 2025$240.5k$645.6k2.68

Biggest buyers

MORGAN STANLEY Added +1,049,454+1.0m
LPL Financial LLC Added +750,620+750.6k
Quadrature Capital Ltd New +272,666+272.7k
Kestra Advisory Services, LLC New +202,615+202.6k
Tower Research Capital LLC (TRC) New +109,607+109.6k
Glassman Wealth Services New +83,760+83.8k
Strategies Wealth Advisors, LLC Added +69,411+69.4k
COMMONWEALTH EQUITY SERVICES, LLC Added +33,198+33.2k
Beverly Hills Private Wealth, LLC Added +28,050+28.1k
&PARTNERS New +21,200+21.2k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -1,087,635-1.1m
Mirae Asset Global Investments Co., Ltd. Reduced -560,000-560.0k
JANE STREET GROUP, LLC Sold out -149,502-149.5k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -119,875-119.9k
CPC Advisors, LLC Reduced -93,239-93.2k
HRT FINANCIAL LP Sold out -88,755-88.8k
JPMORGAN CHASE & CO Reduced -61,081-61.1k
BlackRock, Inc. Reduced -41,662-41.7k
GTS SECURITIES LLC Sold out -18,586-18.6k
FMR LLC Sold out -12,577-12.6k

Biggest calls

JANE STREET GROUP, LLC New $240.5k26.0k shares

Biggest puts

JANE STREET GROUP, LLC Added $645.6k69.8k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,191,5301.2m $11.0m $11.0m 0.00% Reduced -1.1m -1,087,635
2 Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio SEOUL, M5 1,190,0001.2m $11.0m $11.0m 0.03% Reduced -560.0k -560,000
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,049,4561.0m $9.7m $9.7m 0.00% Added +1.0m +1,049,454
4 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 922,390922.4k $8.5m $8.5m 0.01% Reduced -119.9k -119,875
5 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 836,519836.5k $7.7m $7.7m 0.00% Added +750.6k +750,620
6 Strategies Wealth Advisors, LLC 0.70% of their portfolio GRAND RAPIDS, MI 758,994759.0k $7.0m $7.0m 0.70% Added +69.4k +69,411
7 CPC Advisors, LLC 0.55% of their portfolio Atlanta, GA 589,940589.9k $5.5m $5.5m 0.55% Reduced -93.2k -93,239
8 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 301,251301.3k $2.8m $2.8m 0.00% Added +33.2k +33,198
9 Sankala Group LLC 2.19% of their portfolio LYONS, CO 278,663278.7k $2.7m $2.7m 2.19% First filing
10 Quadrature Capital Ltd 0.03% of their portfolio LONDON, X0 272,666272.7k $2.5m $2.5m 0.03% New
11 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 258,358258.4k $2.4m $2.4m 0.00% Reduced -4.8k -4,801
12 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 202,615202.6k $1.9m $1.9m 0.01% New
13 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 118,817118.8k $1.1m $1.1m 0.00% Added +1.1k +1,073
14 Tower Research Capital LLC (TRC) 0.02% of their portfolio NEW YORK, NY 109,607109.6k $1.0m $1.0m 0.02% New
15 Glassman Wealth Services 0.10% of their portfolio VIENNA, VA 83,76083.8k $774.8k $774.8k 0.10% New
16 BlackRock, Inc. 0.00% of their portfolio New York, NY 79,29079.3k $733.4k $733.4k 0.00% Reduced -41.7k -41,662
17 Dentgroup LLC 0.43% of their portfolio BATON ROUGE, LA 67,90967.9k $628.2k $628.2k 0.43% Added +4.0k +4,017
18 Beverly Hills Private Wealth, LLC 0.11% of their portfolio BEVERLY HILLS, CA 67,29367.3k $622.5k $622.5k 0.11% Added +28.1k +28,050
19 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 66,38966.4k $614.1k $614.1k 0.00% Reduced -61.1k -61,081
20 Sowell Financial Services LLC 0.01% of their portfolio NORTH LITTLE ROCK, AR 41,65041.6k $385.3k $385.3k 0.01% Added +16.4k +16,400
21 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 29,27629.3k $270.8k $270.8k 0.00% Reduced -1.3k -1,269
22 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 24,18324.2k $223.7k $223.7k 0.00% Added +10.9k +10,879
23 Rare Wolf Capital LLC 0.13% of their portfolio BELLEVUE, WA 22,01222.0k $203.6k $203.6k 0.13% First filing
24 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 21,20021.2k $196.1k $196.1k 0.00% New
25 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 15,27515.3k $141.3k $141.3k 0.00% Added +3.9k +3,886
26 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 12,21012.2k $112.9k $112.9k 0.00% Unchanged
27 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 10,10010.1k $93.4k $93.4k 0.00% New
28 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 8,1978.2k $75.8k $75.8k 0.00% New
29 Morling Financial Advisors, LLC 0.02% of their portfolio FREMONT, CA 5,3395.3k $49.4k $49.4k 0.02% New
30 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,9463.9k $37.0k $37.0k 0.00% Reduced -4.8k -4,803
31 NFSG Corp 0.00% of their portfolio BOCA RATON, FL 3,4383.4k $31.8k $31.8k 0.00% Unchanged
32 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 2,0002.0k $18.5k $18.5k 0.00% Unchanged
33 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 1,1021.1k $10.2k $10.2k 0.00% Reduced -10.9k -10,891
34 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 280280 $2.6k $2.6k 0.00% New
35 Sunbelt Securities, Inc. 0.00% of their portfolio HOUSTON, TX 107107 $986 $986 0.00% Added +1 +1