Vault-13

PIMCO ETF TR ZROZ

25YR+ ZERO U S · ETP · CUSIP 72201R882

134 institutional holders +3 vs Q3 2025
10,021,89810.0m shares reported held*
$644.3mreported value*
23 new 44 added 51 reduced 23 sold out net sold ≈ $114.9m (-1.8m 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 ≈ $64.29. Options: 3 managers hold calls ($4.8m notional), 5 hold puts ($13.0m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 79Q4 22: 101Q1 23: 105Q2 23: 113Q3 23: 113Q4 23: 121Q1 24: 107Q2 24: 120Q3 24: 134Q4 24: 142Q1 25: 145Q2 25: 134Q3 25: 131Q4 25: 134134Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202279
Q4 2022101
Q1 2023105
Q2 2023113
Q3 2023113
Q4 2023121
Q1 2024107
Q2 2024120
Q3 2024134
Q4 2024142
Q1 2025145
Q2 2025134
Q3 2025131
Q4 2025134

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 51 bought or addedQ1 24: 63 cut or sold outQ2 24: 71 bought or addedQ2 24: 42 cut or sold outQ2 24Q3 24: 75 bought or addedQ3 24: 56 cut or sold outQ4 24: 69 bought or addedQ4 24: 74 cut or sold outQ4 24Q1 25: 74 bought or addedQ1 25: 87 cut or sold outQ2 25: 80 bought or addedQ2 25: 70 cut or sold outQ2 25Q3 25: 69 bought or addedQ3 25: 63 cut or sold outQ4 25: 67 bought or addedQ4 25: 74 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20245163
Q2 20247142
Q3 20247556
Q4 20246974
Q1 20257487
Q2 20258070
Q3 20256963
Q4 20256774

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ1 25 calls: $10.4mQ1 25 puts: $9.8mQ1 25P/C 0.94Q2 25 calls: $12.2mQ2 25 puts: $11.5mQ2 25P/C 0.95Q3 25 calls: $11.6mQ3 25 puts: $12.9mQ3 25P/C 1.11Q4 25 calls: $4.8mQ4 25 puts: $13.0mQ4 25P/C 2.70
Numbers
QuarterCallsPutsP/C
Q1 2025$10.4m$9.8m0.94
Q2 2025$12.2m$11.5m0.95
Q3 2025$11.6m$12.9m1.11
Q4 2025$4.8m$13.0m2.70

Biggest buyers

Annex Advisory Services, LLC Added +204,732+204.7k
IHT Wealth Management, LLC New +98,426+98.4k
Western Wealth Management, LLC New +85,215+85.2k
Quadrature Capital Ltd New +57,331+57.3k
CPC Advisors, LLC Added +50,867+50.9k
CITADEL ADVISORS LLC Added +46,092+46.1k
FLOW TRADERS U.S. LLC New +41,134+41.1k
RiverFront Investment Group, LLC Added +36,731+36.7k
D.A. DAVIDSON & CO. Added +29,178+29.2k
SHEPHERD KAPLAN KROCHUK, LLC Added +27,674+27.7k

Biggest sellers

Mirae Asset Global Investments Co., Ltd. Reduced -765,000-765.0k
BANK OF AMERICA CORP /DE/ Reduced -686,100-686.1k
LPL Financial LLC Reduced -142,149-142.1k
GOLDMAN SACHS GROUP INC Sold out -138,669-138.7k
CREATIVE FINANCIAL DESIGNS INC /ADV Reduced -123,340-123.3k
Steward Partners Investment Advisory, LLC Reduced -79,172-79.2k
GenWealth Group, Inc. Reduced -72,823-72.8k
Cambridge Investment Research Advisors, Inc. Sold out -68,542-68.5k
OPPENHEIMER & CO INC Sold out -67,330-67.3k
Tower Research Capital LLC (TRC) Reduced -51,540-51.5k

Biggest calls

CITADEL ADVISORS LLC Added $2.2m35.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.7m26.7k shares
JANE STREET GROUP, LLC Added $841.7k13.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $5.9m92.3k shares
CITADEL ADVISORS LLC Added $4.3m67.4k shares
JANE STREET GROUP, LLC Added $1.5m23.8k shares
IMC-Chicago, LLC Reduced $918.8k14.3k shares
SIMPLEX TRADING, LLC Added $289.1k4.5k 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 Mirae Asset Global Investments Co., Ltd. 0.32% of their portfolio SEOUL, M5 1,776,5281.8m $114.1m $114.1m 0.32% Reduced -765.0k -765,000
2 Annex Advisory Services, LLC 1.16% of their portfolio BROOKFIELD, WI 943,470943.5k $60.6m $60.6m 1.16% Added +204.7k +204,732
3 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 654,802654.8k $42.1m $42.1m 0.01% Reduced -142.1k -142,149
4 RWA WEALTH PARTNERS, LLC 0.42% of their portfolio BOSTON, MA 598,288598.3k $38.4m $38.4m 0.42% Unchanged
5 RiverFront Investment Group, LLC 0.54% of their portfolio RICHMOND, VA 508,669508.7k $32.7m $32.7m 0.54% Added +36.7k +36,731
6 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 486,155486.2k $31.2m $31.2m 0.01% Added +4.5k +4,507
7 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 467,251467.3k $30.0m $30.0m 0.00% Reduced -686.1k -686,100
8 CPC Advisors, LLC 2.62% of their portfolio Atlanta, GA 403,421403.4k $25.9m $25.9m 2.62% Added +50.9k +50,867
9 Krilogy Financial LLC 0.57% of their portfolio ST. LOUIS, MO 254,492254.5k $16.7m $16.7m 0.57% Added +6.8k +6,822
10 GenWealth Group, Inc. 2.77% of their portfolio Maplewood, NJ 253,170253.2k $16.2m $16.2m 2.77% Reduced -72.8k -72,823
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 206,318206.3k $13.3m $13.3m 0.00% Reduced -37.1k -37,080
12 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 190,943190.9k $12.3m $12.3m 0.00% Reduced -10.5k -10,515
13 Paragon Advisors, LLC 2.66% of their portfolio COLLEGE STATION, TX 152,340152.3k $9.8m $9.8m 2.66% Added +8.0k +8,030
14 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 131,986132.0k $8.5m $8.5m 0.01% Reduced -17.7k -17,748
15 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 115,780115.8k $7.4m $7.4m 0.01% Reduced -25.9k -25,884
16 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 114,415114.4k $7.4m $7.4m 0.00% Added +12.7k +12,653
17 Mid-American Wealth Advisory Group, Inc. 2.99% of their portfolio KANSAS CITY, MO 109,982110.0k $7.1m $7.1m 2.99% Added +3.4k +3,361
18 Cyndeo Wealth Partners, LLC 0.37% of their portfolio ST. PETERSBURG, FL 107,951108.0k $6.9m $6.9m 0.37% Added +3.8k +3,849
19 Centurion Wealth Management LLC 1.47% of their portfolio Mclean, VA 104,176104.2k $6.7m $6.7m 1.47% Added +3.5k +3,459
20 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 102,663102.7k $6.6m $6.6m 0.00% Added +46.1k +46,092
21 IHT Wealth Management, LLC 0.15% of their portfolio Chicago, IL 98,42698.4k $6.3m $6.3m 0.15% New
22 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 97,97898.0k $6.3m $6.3m 0.01% Reduced -16.2k -16,217
23 Retirement Management Systems Inc. 1.51% of their portfolio STEVENSVILLE, MD 91,82691.8k $5.9m $5.9m 1.51% First filing
24 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 90,26390.3k $5.8m $5.8m 0.00% Added +2.8k +2,774
25 D.A. DAVIDSON & CO. 0.03% of their portfolio GREAT FALLS, MT 85,27785.3k $5.5m $5.5m 0.03% Added +29.2k +29,178
26 Western Wealth Management, LLC 0.25% of their portfolio GOLDEN, CO 85,21585.2k $5.5m $5.5m 0.25% New
27 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 83,49983.5k $5.4m $5.4m 0.00% Reduced -4.3k -4,318
28 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 79,05279.1k $5.1m $5.1m 0.01% Added +5.1k +5,080
29 CONSILIO WEALTH ADVISORS, LLC 1.44% of their portfolio BELLEVUE, WA 76,42076.4k $4.9m $4.9m 1.44% Added +5.5k +5,496
30 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 75,00075.0k $4.8m $4.8m 0.00% Reduced -25.0k -25,000
31 Marex Group Ltd 0.05% of their portfolio London, X0 68,90468.9k $4.4m $4.4m 0.05% Added +10.1k +10,147
32 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 57,84757.8k $3.7m $3.7m 0.00% Reduced -27.7k -27,726
33 SHEPHERD KAPLAN KROCHUK, LLC 3.06% of their portfolio Boston, MA 57,65857.7k $3.7m $3.7m 3.06% Added +27.7k +27,674
34 Quadrature Capital Ltd 0.04% of their portfolio LONDON, X0 57,33157.3k $3.7m $3.7m 0.04% New
35 &PARTNERS 0.02% of their portfolio NASHVILLE, TN 55,90455.9k $3.6m $3.6m 0.02% Added +6.2k +6,188
36 Nearwater Capital Markets, Ltd 0.06% of their portfolio NEW YORK, NY 55,40055.4k $3.6m $3.6m 0.06% Reduced -7.3k -7,300
37 Arlington Capital Management, Inc. 2.00% of their portfolio ARLINGTON HEIGHTS, IL 50,67550.7k $3.3m $3.3m 2.00% Reduced -11.5k -11,451
38 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 49,97650.0k $3.2m $3.2m 0.00% Reduced -15.2k -15,209
39 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 43,78143.8k $2.8m $2.8m 0.01% Reduced -1.3k -1,267
40 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 42,87442.9k $2.8m $2.8m 0.00% Added +1.3k +1,325
41 Tower Research Capital LLC (TRC) 0.06% of their portfolio NEW YORK, NY 41,56041.6k $2.7m $2.7m 0.06% Reduced -51.5k -51,540
42 FLOW TRADERS U.S. LLC 0.09% of their portfolio NEW YORK, NY 41,13441.1k $2.6m $2.6m 0.09% New
43 UBS Group AG 0.00% of their portfolio ZURICH, V8 40,42140.4k $2.6m $2.6m 0.00% Added +10.9k +10,946
44 AE Wealth Management LLC 0.01% of their portfolio TOPEKA, KS 38,35338.4k $2.5m $2.5m 0.01% Reduced -450 -450
45 WEDBUSH SECURITIES INC 0.06% of their portfolio PASADENA, CA 34,38234.4k $2.2m $2.2m 0.06% Added +8.1k +8,085
46 Mariner, LLC 0.00% of their portfolio Overland Park, KS 34,34634.3k $2.2m $2.2m 0.00% Reduced -2.8k -2,794
47 Valtinson Bruner Financial Planning LLC 0.62% of their portfolio NEW BRIGHTON, MN 33,43833.4k $2.1m $2.1m 0.62% Reduced -14.0k -14,047
48 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 32,03632.0k $2.1m $2.1m 0.00% Reduced -38.0k -38,042
49 Carrera Capital Advisors 0.34% of their portfolio TROY, MI 31,45231.5k $2.0m $2.0m 0.34% Reduced -14.1k -14,122
50 Legacy Private Trust Co. 0.10% of their portfolio NEENAH, WI 25,60325.6k $1.6m $1.6m 0.10% Reduced -6.2k -6,175
51 Prospera Financial Services Inc 0.03% of their portfolio Dallas, TX 25,47425.5k $1.6m $1.6m 0.03% Added +835 +835
52 Provident Wealth Management, LLC 0.48% of their portfolio BRENTWOOD, TN 25,34025.3k $1.6m $1.6m 0.48% Reduced -318 -318
53 SIMPLEX TRADING, LLC 0.05% of their portfolio CHICAGO, IL 25,01725.0k $1.6m $1.6m 0.05% Added +2.9k +2,912
54 Glaxis Capital Management, LLC 2.75% of their portfolio SARASOTA, FL 25,00025.0k $1.6m $1.6m 2.75% New
55 Goodman Advisory Group, LLC 0.38% of their portfolio NEEDHAM, MA 24,10924.1k $1.5m $1.5m 0.38% Added +3.8k +3,778
56 Redwood Investment Management, LLC 0.16% of their portfolio SCOTTSDALE, AZ 22,31822.3k $1.4m $1.4m 0.16% New
57 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 21,51021.5k $1.4m $1.4m 0.03% New
58 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 21,23821.2k $1.4m $1.4m 0.01% New
59 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 21,20121.2k $1.4m $1.4m 0.00% Reduced -1.4k -1,357
60 Williams & Novak, LLC 1.01% of their portfolio WESTLAKE VILLAGE, CA 20,96021.0k $1.3m $1.3m 1.01% Added +1.3k +1,345
61 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 17,42017.4k $1.1m $1.1m 0.00% Added +15.9k +15,920
62 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 16,51216.5k $1.1m $1.1m 0.00% Reduced -17.4k -17,352
63 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 13,74213.7k $882.9k $882.9k 0.01% Added +3.8k +3,774
64 BlackRock, Inc. 0.00% of their portfolio New York, NY 12,91112.9k $829.5k $829.5k 0.00% Reduced -19.9k -19,940
65 FLP Wealth Management, LLC 1.94% of their portfolio BENTONVILLE, AR 12,75312.8k $819.4k $819.4k 1.94% Added +324 +324
66 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 12,70612.7k $815.2k $815.2k 0.00% Added +11.0k +11,034
67 Delos Wealth Advisors, LLC 0.52% of their portfolio DALLAS, TX 12,15512.2k $781.0k $781.0k 0.52% Added +3.5k +3,457
68 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 11,65611.7k $748.9k $748.9k 0.00% Reduced -12.7k -12,650
69 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 10,83610.8k $696.2k $696.2k 0.00% Added +2.3k +2,333
70 WCG Wealth Advisors LLC 0.02% of their portfolio LAS VEGAS, NV 10,73310.7k $689.6k $689.6k 0.02% New
71 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 10,04110.0k $645.1k $645.1k 0.01% Reduced -26 -26
72 OLD MISSION CAPITAL LLC 0.02% of their portfolio CHICAGO, IL 9,6939.7k $622.8k $622.8k 0.02% New
73 TWO SIGMA SECURITIES, LLC 0.08% of their portfolio NEW YORK, NY 9,0079.0k $578.7k $578.7k 0.08% Added +2.3k +2,284
74 Elevated Capital Advisors, LLC 0.13% of their portfolio SANDY, UT 8,6348.6k $554.7k $554.7k 0.13% Reduced -143 -143
75 Sankala Group LLC 0.46% of their portfolio LYONS, CO 8,4838.5k $579.8k $579.8k 0.46% First filing
76 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 8,4488.4k $542.8k $542.8k 0.00% Reduced -22.6k -22,599
77 North Ridge Wealth Advisors, Inc. 0.28% of their portfolio BEAVERTON, OR 7,8437.8k $503.9k $503.9k 0.28% Added +1.4k +1,399
78 Ballew Advisors, Inc 0.28% of their portfolio Jackson, MS 7,7387.7k $500.9k $500.9k 0.28% Reduced -966 -966
79 Golden Reserve Retirement LLC 0.09% of their portfolio DUBLIN, OH 7,5067.5k $482.3k $482.3k 0.09% New
80 Colonial River Investments, LLC 0.17% of their portfolio MIDLOTHIAN, VA 7,4947.5k $481.5k $481.5k 0.17% Added +777 +777
81 AXXCESS WEALTH MANAGEMENT, LLC 0.01% of their portfolio CARLSBAD, CA 7,3697.4k $473.5k $473.5k 0.01% Added +664 +664
82 INSIGNEO ADVISORY SERVICES, LLC 0.03% of their portfolio MIAMI, FL 7,2007.2k $462.6k $462.6k 0.03% New
83 PRIVATE TRUST CO NA 0.04% of their portfolio CLEVELAND, OH 6,9176.9k $444.4k $444.4k 0.04% Added +10 +10
84 Simplicity Wealth,LLC 0.03% of their portfolio SUMMIT, NJ 6,7336.7k $432.6k $432.6k 0.03% Added +371 +371
85 BCWM, LLC 0.12% of their portfolio OVERLAND PARK, KS 6,4866.5k $416.7k $416.7k 0.12% Reduced -1.5k -1,529
86 Mutual Advisors, LLC 0.01% of their portfolio OMAHA, NE 6,4756.5k $416.0k $416.0k 0.01% Reduced -86 -86
87 Patriot Financial Group Insurance Agency, LLC 0.04% of their portfolio Westborough, MA 5,3685.4k $344.9k $344.9k 0.04% Reduced -2.1k -2,149
88 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 5,2915.3k $340.0k $340.0k 0.00% New
89 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 5,2005.2k $334.1k $334.1k 0.00% Reduced -36.7k -36,700
90 Lloyd Advisory Services, LLC. 0.13% of their portfolio SUWANEE, GA 5,1825.2k $332.9k $332.9k 0.13% Added +2.0k +1,988
91 Great Lakes Retirement, Inc. 0.03% of their portfolio SANDUSKY, OH 4,8254.8k $314.2k $314.2k 0.03% Reduced -380 -380
92 Timber Creek Capital Management LLC 0.07% of their portfolio BOSTON, MA 4,7744.8k $306.8k $306.8k 0.07% Added +1.1k +1,089
93 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 4,7364.7k $304.3k $304.3k 0.00% Reduced -79.2k -79,172
94 Concurrent Investment Advisors, LLC 0.00% of their portfolio Tampa, FL 4,6724.7k $300.2k $300.2k 0.00% Reduced -511 -511
95 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 4,6554.7k $299.1k $299.1k 0.00% Reduced -22.4k -22,364
96 INTEGRITY ALLIANCE, LLC. 0.01% of their portfolio Urbandale, IA 4,4734.5k $287.4k $287.4k 0.01% Reduced -405 -405
97 Authentikos Wealth Advisory, LLC 0.18% of their portfolio MORGAN HILL, CA 4,2794.3k $274.9k $274.9k 0.18% Reduced -29.5k -29,489
98 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 4,1494.1k $266.6k $266.6k 0.00% Unchanged
99 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 3,8143.8k $245.1k $245.1k 0.00% Unchanged
100 Visionary Wealth Advisors 0.01% of their portfolio O'FALLON, IL 3,8133.8k $245.0k $245.0k 0.01% Reduced -881 -881