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iShares US Broker-Dealers & Securities Exchanges ETF
IAI

184 hedge funds and large institutions have $978M invested in iShares US Broker-Dealers & Securities Exchanges ETF in 2025 Q3 according to their latest regulatory filings, with 29 funds opening new positions, 59 increasing their positions, 57 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

12% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 26

8% more capital invested

Capital invested by funds: $907M → $978M (+$71.4M)

1% more funds holding

Funds holding: 182 → 184 (+2)

4% more repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 57

0% more funds holding in top 10

Funds holding in top 10: 4 → 4 (0)

3.42% less ownership

Funds ownership: 65.57% → 62.15% (-3.4%)

74% less call options, than puts

Call options by funds: $1.57M | Put options by funds: $6.11M

Holders
184
Holders Change
+2
Holders Change %
+1.1%
% of All Funds
2.41%
Holding in Top 10
4
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
29
Increased
59
Reduced
57
Closed
26
Calls
$1.57M
Puts
$6.11M
Net Calls
-$4.53M
Net Calls Change
+$13M

Top Buyers

Rank Fund Capital Flow
1
QC
Quadrature Capital
United Kingdom
+$9.9M
2
LPL Financial
LPL Financial
California
+$9.58M
3
Wells Fargo
Wells Fargo
California
+$9.46M
4
Two Sigma Investments
Two Sigma Investments
New York
+$8.13M
5
PG
Prostatis Group
Maryland
+$6.83M

Top Sellers

Rank Fund Capital Flow
1
Osaic Holdings
Osaic Holdings
Arizona
-$17.9M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$15.2M
3
PFM
Potomac Fund Management
Florida
-$10.2M
4
Morgan Stanley
Morgan Stanley
New York
-$7.41M
5
Citadel Advisors
Citadel Advisors
Florida
-$4.65M
Name Holding Trade Value Shares
Change 		Change in
Stake
AWM
76
Aprio Wealth Management
Georgia
$966K -$3.31K -19 -0.3%
HVP
77
Hudson Value Partners
Florida
$946K +$157K +903 +20%
BFA
78
Brendel Financial Advisors
New Hampshire
$939K +$924K +5,308 New
JWM
79
Jackson Wealth Management
Florida
$925K +$24.4K +140 +3%
IA
80
Integrity Alliance
Iowa
$916K +$901K +5,178 New
GFPC
81
Global Financial Private Client
Florida
$894K +$56.4K +324 +7%
NA
82
NewEdge Advisors
Louisiana
$874K +$6.96K +40 +0.8%
FFN
83
Focus Financial Network
Minnesota
$853K +$587K +3,374 +233%
DC
84
Davenport & Co
Virginia
$841K +$22.1K +127 +3%
IWC
85
Integrated Wealth Concepts
Massachusetts
$777K +$50.1K +288 +7%
MWA
86
Muirfield Wealth Advisors
North Carolina
$712K +$348 +2 +0%
SA
87
Sanctuary Advisors
Indiana
$712K -$102K -584 -13%
D.E. Shaw & Co
88
D.E. Shaw & Co
New York
$642K -$69.6K -400 -10%
Fidelity Investments
89
Fidelity Investments
Massachusetts
$642K -$58.5K -336 -8%
SCA
90
Southern Capital Advisors
Tennessee
$638K -$6.62K -38 -1%
KAS
91
Kestra Advisory Services
Texas
$606K +$85.1K +489 +17%
Renaissance Technologies
92
Renaissance Technologies
New York
$601K +$139K +800 +31%
FIBOI
93
First International Bank of Israel
$585K +$43.2K +248 +8%
JP Morgan Chase
94
JP Morgan Chase
New York
$572K +$119K +683 +27%
JCM
95
Janney Capital Management
Pennsylvania
$557K -$10.3K -59 -2%
AWCI
96
Alpine Woods Capital Investors
New York
$531K – – –
MA
97
Maxele Advisors
Missouri
$518K – – –
SWM
98
SeaCrest Wealth Management
New York
$448K +$9.75K +56 +2%
NWA
99
Navis Wealth Advisors
New York
$442K – – –
SF
100
Summit Financial
New Jersey
$432K +$21.2K +122 +5%
2 3
4
5 6

IAI Hedge Fund Activity: Q3 2025 in Review

184 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in iShares US Broker-Dealers & Securities Exchanges ETF (IAI) for Q3 2025, worth a combined $978M — up 7.9% from $907M a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new IAI positions and 26 closed out — a net gain of 3 holders — while 59 added to existing stakes and 57 trimmed.

The largest buyer was Quadrature Capital, opening a new position worth an estimated $9.9M. The largest seller was Osaic Holdings, cutting an estimated $17.9M.

  • 184 institutional investors held iShares US Broker-Dealers & Securities Exchanges ETF (IAI) as of Q3 2025, up from 182 in Q2 2025.
  • Funds reported $978M of iShares US Broker-Dealers & Securities Exchanges ETF stock for Q3 2025, up 7.9% quarter-over-quarter.
  • 29 funds opened new iShares US Broker-Dealers & Securities Exchanges ETF positions in Q3 2025 and 26 closed out, a net change of +3 holders.
  • The largest iShares US Broker-Dealers & Securities Exchanges ETF buyer in Q3 2025 was Quadrature Capital, an estimated $9.9M added.
  • The largest iShares US Broker-Dealers & Securities Exchanges ETF seller in Q3 2025 was Osaic Holdings, an estimated $17.9M sold.

Based on aggregated 13F filings for Q3 2025.