iShares Top 20 U.S. Stocks ETF
TOPT
78 hedge funds and large institutions have $134M invested in iShares Top 20 U.S. Stocks ETF in 2025 Q4 according to their latest regulatory filings, with 22 funds opening new positions, 32 increasing their positions, 13 reducing their positions, and 8 closing their positions.
700% more call options, than puts
Call options by funds: $1.85M | Put options by funds: $231K
175% more first-time investments, than exits
New positions opened: 22 | Existing positions closed: 8
146% more repeat investments, than reductions
Existing positions increased: 32 | Existing positions reduced: 13
22% more funds holding
Funds holding: 64 → 78 (+14)
21% more capital invested
Capital invested by funds: $111M → $134M (+$22.9M)
4.61% less ownership
Funds ownership: 34.04% → 29.43% (-4.6%)
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Raymond James Financial
St Petersburg,
Florida
|
+$10.8M |
| 2 |
NA
NewEdge Advisors
New Orleans,
Louisiana
|
+$8.72M |
| 3 |
LPL Financial
San Diego,
California
|
+$5.51M |
| 4 |
Janney Montgomery Scott
Philadelphia,
Pennsylvania
|
+$2.32M |
| 5 |
GWM
Geneos Wealth Management
Englewood,
Colorado
|
+$2.16M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
-$2.13M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$2.07M |
| 3 |
BAM
Belpointe Asset Management
Reno,
Nevada
|
-$1.57M |
| 4 |
GAG
Goodman Advisory Group
Needham,
Massachusetts
|
-$1.1M |
| 5 |
TRCT
Tower Research Capital (TRC)
New York
|
-$542K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
GRP
76
Global Retirement Partners
San Rafael,
California
| $562 | -$682 | -22 | -55% |
|
|
BWL
77
Bogart Wealth LLC
Mclean,
Virginia
| $312 | +$310 | +10 | New |
|
|
AWM
78
AE Wealth Management
Topeka,
Kansas
| $25 | – | – | – |
|
|
TC
79
Touchstone Capital
Pittsburgh,
Pennsylvania
| – | -$10.9M | -357,153 | Closed |
|
|
80
Citadel Advisors
Miami,
Florida
| – | -$2.07M | -66,903 | Closed |
|
|
BAM
81
Belpointe Asset Management
Reno,
Nevada
| – | -$1.57M | -51,580 | Closed |
|
|
SFC
82
Strategic Financial Concepts
San Antonio,
Texas
| – | -$379K | -12,450 | Closed |
|
83
Barclays
London,
United Kingdom
| – | -$305K | -10,000 | Closed |
|
84
JP Morgan Chase
New York
| – | -$288K | -9,452 | Closed |
|
|
PS
85
Principal Securities
Des Moines,
Iowa
| – | -$268K | -8,810 | Closed |
|
|
AAS
86
Ameritas Advisory Services
Lincoln,
Nebraska
| – | -$76.2K | -2,500 | Closed |
|
TOPT Hedge Fund Activity: Q4 2025 in Review
78 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in iShares Top 20 U.S. Stocks ETF (TOPT) for Q4 2025, worth a combined $134M — up 21% from $111M a quarter earlier.
Buyers outnumbered sellers: 22 funds opened new TOPT positions and 8 closed out — a net gain of 14 holders — while 32 added to existing stakes and 13 trimmed.
The largest buyer was Raymond James Financial, adding an estimated $10.8M. The largest seller was BlackRock, cutting an estimated $2.13M.
- 78 institutional investors held iShares Top 20 U.S. Stocks ETF (TOPT) as of Q4 2025, up from 64 in Q3 2025.
- Funds reported $134M of iShares Top 20 U.S. Stocks ETF stock for Q4 2025, up 21% quarter-over-quarter.
- 22 funds opened new iShares Top 20 U.S. Stocks ETF positions in Q4 2025 and 8 closed out, a net change of +14 holders.
- The largest iShares Top 20 U.S. Stocks ETF buyer in Q4 2025 was Raymond James Financial, an estimated $10.8M added.
- The largest iShares Top 20 U.S. Stocks ETF seller in Q4 2025 was BlackRock, an estimated $2.13M sold.
Based on aggregated 13F filings for Q4 2025.