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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
KNW
101
Kesler Norman & Wride
Utah
$432K +$8.7K +50 +2%
WANY
102
Wealthspire Advisors (New York)
New York
$423K +$416K +2,392 New
GEA
103
Glen Eagle Advisors
New Jersey
$376K – – –
FFA
104
Farther Finance Advisors
California
$357K +$145K +832 +70%
PAG
105
Private Advisor Group
New Jersey
$353K +$10.4K +60 +3%
Bank of New York Mellon
106
Bank of New York Mellon
New York
$343K -$23.7K -136 -7%
RWS
107
Resolute Wealth Strategies
Mississippi
$336K +$870 +5 +0.3%
CF
108
Centaurus Financial
California
$325K +$5.75K +33 +2%
AFP
109
Ausdal Financial Partners
Iowa
$314K +$56.4K +324 +22%
AI
110
Accredited Investors
Minnesota
$310K +$305K +1,750 New
WFMPM
111
Woodley Farra Manion Portfolio Management
Indiana
$308K +$28.5K +164 +10%
NSIM
112
North Star Investment Management
Illinois
$291K – – –
WA
113
WESPAC Advisors
California
$288K -$5.75K -33 -2%
KWA
114
Kingswood Wealth Advisors
California
$275K +$25.1K +144 +10%
SFS
115
Sowell Financial Services
Arkansas
$259K – – –
HAS
116
HBW Advisory Services
California
$249K -$272K -1,563 -53%
SL
117
SWMG LLC
Texas
$248K +$696 +4 +0.3%
Wealth Enhancement Advisory Services
118
Wealth Enhancement Advisory Services
Minnesota
$233K -$51.9K -298 -18%
Mercer Global Advisors
119
Mercer Global Advisors
Colorado
$219K +$216K +1,240 New
AWM
120
Axxcess Wealth Management
California
$218K -$17.9K -103 -8%
WPP
121
Whalerock Point Partners
Rhode Island
$217K – – –
SAW
122
Signal Advisors Wealth
Michigan
$216K +$213K +1,223 New
CI
123
CX Institutional
Indiana
$214K +$29.8K +171 +16%
PGFC
124
Peapack-Gladstone Financial Corp
New Jersey
$212K – – –
CBA
125
Coastal Bridge Advisors
Connecticut
$210K – – –
3 4
5
6 7

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.