Vault-13

ISHARES TR SMAX

LARGE CAP MAX BU · ETP · CUSIP 46438G588

37 institutional holders +3 vs Q1 2026
1,867,3031.9m shares reported held*
$52.0mreported value*
7 new 3 added 11 reduced 4 sold out net sold ≈ $12.4m (-444.9k 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 ≈ $27.87.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q4 24: 47Q1 25: 39Q2 25: 26Q3 25: 26Q4 25: 32Q1 26: 34Q2 26: 3737Q4 24Q2 25Q4 25Q2 26
Numbers
QuarterHolders
Q4 202447
Q1 202539
Q2 202526
Q3 202526
Q4 202532
Q1 202634
Q2 202637

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 25: 18 bought or addedQ1 25: 31 cut or sold outQ1 25Q2 25: 11 bought or addedQ2 25: 26 cut or sold outQ2 25Q3 25: 8 bought or addedQ3 25: 16 cut or sold outQ3 25Q4 25: 24 bought or addedQ4 25: 9 cut or sold outQ4 25Q1 26: 11 bought or addedQ1 26: 17 cut or sold outQ1 26Q2 26: 10 bought or addedQ2 26: 15 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q1 20251831
Q2 20251126
Q3 2025816
Q4 2025249
Q1 20261117
Q2 20261015

Biggest buyers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +41,031+41.0k
CITADEL ADVISORS LLC New +15,936+15.9k
Kestra Investment Management, LLC New +14,787+14.8k
BANK OF AMERICA CORP /DE/ New +9,007+9.0k
KESTRA PRIVATE WEALTH SERVICES, LLC New +9,000+9.0k
Diversify Advisory Services, LLC New +7,294+7.3k
Blue Trust, Inc. New +1,428+1.4k
RAYMOND JAMES FINANCIAL INC Added +993+993
ENVESTNET ASSET MANAGEMENT INC Added +57+57
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO New +34+34

Biggest sellers

J. L. Bainbridge & Co., Inc. Reduced -451,116-451.1k
BIP Wealth, LLC Sold out -56,701-56.7k
OLD MISSION CAPITAL LLC Reduced -19,635-19.6k
Blue Sky Capital Consultants Group, Inc. Reduced -11,640-11.6k
Client First Capital LLC Reduced -1,423-1.4k
Grantvest Financial Group LLC Reduced -1,182-1.2k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -1,000-1.0k
Advisory Services Network, LLC Sold out -1,000-1.0k
FC Advisory LLC Reduced -242-242
UBS Group AG Sold out -172-172

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 J. L. Bainbridge & Co., Inc. 2.11% of their portfolio SARASOTA, FL 947,144947.1k $26.4m $26.4m 2.11% Reduced -451.1k -451,116
2 Client First Capital LLC 1.62% of their portfolio SAN DIEGO, CA 143,897143.9k $4.0m $4.0m 1.62% Reduced -1.4k -1,423
3 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 93,26293.3k $2.6m $2.6m 0.00% Added +993 +993
4 FC Advisory LLC 0.59% of their portfolio WEST CHESTER, PA 80,53380.5k $2.2m $2.2m 0.59% Reduced -242 -242
5 Grantvest Financial Group LLC 1.18% of their portfolio MATAWAN, NJ 73,19973.2k $2.0m $2.0m 1.18% Reduced -1.2k -1,182
6 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 69,88469.9k $1.9m $1.9m 0.00% Added +41.0k +41,031
7 Amplius Wealth Advisors, LLC 0.10% of their portfolio BLUE BELL, PA 48,10148.1k $1.3m $1.3m 0.10% Unchanged
8 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 44,20944.2k $1.2m $1.2m 0.00% Added +57 +57
9 Crewe Advisors LLC 0.08% of their portfolio SALT LAKE CITY, UT 38,11838.1k $1.1m $1.1m 0.08% Unchanged
10 JIM SAULNIER & ASSOCIATES, LLC 0.41% of their portfolio FORT COLLINS, CO 36,14136.1k $1.0m $1.0m 0.41% Unchanged
11 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 26,77826.8k $746.2k $746.2k 0.00% Reduced -1.0k -1,000
12 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 21,49321.5k $598.9k $598.9k 0.00% Unchanged
13 Tradition Wealth Management, LLC 0.04% of their portfolio EDINA, MN 21,11221.1k $588.3k $588.3k 0.04% Unchanged
14 ARS Investment Partners, LLC 0.02% of their portfolio New York, NY 19,90019.9k $554.5k $554.5k 0.02% Unchanged
15 Lifestyle Asset Management, Inc. 0.13% of their portfolio FRIENDSWOOD, TX 16,72016.7k $465.9k $465.9k 0.13% Reduced -129 -129
16 Crown Wealth Group, LLC 0.12% of their portfolio Charlotte, NC 16,70116.7k $465.4k $465.4k 0.12% Reduced -50 -50
17 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 15,93615.9k $444.1k $444.1k 0.00% New
18 Clear Creek Financial Management, LLC 0.03% of their portfolio SILVERDALE, WA 15,35715.4k $427.9k $427.9k 0.03% Unchanged
19 Kestra Investment Management, LLC 0.01% of their portfolio AUSTIN, TX 14,78714.8k $412.0k $412.0k 0.01% New
20 Kovack Advisors, Inc. 0.02% of their portfolio FT. LAUDERDALE, FL 14,78214.8k $411.9k $411.9k 0.02% Unchanged
21 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 13,99414.0k $389.9k $389.9k 0.00% Unchanged
22 Blue Sky Capital Consultants Group, Inc. 0.14% of their portfolio Poway, CA 11,66711.7k $325.1k $325.1k 0.14% Reduced -11.6k -11,640
23 Ausdal Financial Partners, Inc. 0.01% of their portfolio Davenport, IA 11,60011.6k $323.2k $323.2k 0.01% Unchanged
24 OLD MISSION CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 10,58410.6k $294.9k $294.9k 0.01% Reduced -19.6k -19,635
25 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 9,0079.0k $251.0k $251.0k 0.00% New
26 KESTRA PRIVATE WEALTH SERVICES, LLC 0.00% of their portfolio AUSTIN, TX 9,0009.0k $250.8k $250.8k 0.00% New
27 Investment Partners Asset Management, Inc. 0.13% of their portfolio METUCHEN, NJ 8,5228.5k $237.5k $237.5k 0.13% Unchanged
28 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 7,4887.5k $208.7k $208.7k 0.00% Unchanged
29 Diversify Advisory Services, LLC 0.00% of their portfolio SANDY, UT 7,2947.3k $203.9k $203.9k 0.00% New
30 DIVERSIFY WEALTH MANAGEMENT, LLC 0.00% of their portfolio SANDY, UT 7,2947.3k $203.9k $203.9k 0.00% Unchanged
31 Spire Wealth Management 0.01% of their portfolio MCLEAN, VA 7,1967.2k $200.5k $200.5k 0.01% Reduced -2 -2
32 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 3,9153.9k $109.1k $109.1k 0.00% Reduced -154 -154
33 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 1,4281.4k $39.8k $39.8k 0.00% New
34 Elevated Capital Advisors, LLC 0.00% of their portfolio SANDY, UT 174174 $4.8k $4.8k 0.00% Unchanged
35 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 5151 $1.4k $1.4k 0.00% Unchanged
36 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 3434 $947 $947 0.00% New
37 Kingdom Financial Group LLC. 0.00% of their portfolio PEORIA, AZ 11 $24 $24 0.00% Unchanged