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TOPT

iShares Top 20 U.S. Stocks ETF
TOPT

47 hedge funds and large institutions have $61.2M invested in iShares Top 20 U.S. Stocks ETF in 2025 Q2 according to their latest regulatory filings, with 19 funds opening new positions, 18 increasing their positions, 6 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

533% more first-time investments, than exits

New positions opened: 19 | Existing positions closed: 3

200% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 6

129% more call options, than puts

Call options by funds: $2.34M | Put options by funds: $1.02M

52% more funds holding

Funds holding: 31 → 47 (+16)

49% more capital invested

Capital invested by funds: $41.1M → $61.2M (+$20.1M)

1.18% more ownership

Funds ownership: 24.29% → 25.46% (+1.2%)

Holders
47
Holders Change
+16
Holders Change %
+51.61%
% of All Funds
0.62%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
19
Increased
18
Reduced
6
Closed
3
Calls
$2.34M
Puts
$1.02M
Net Calls
+$1.32M
Net Calls Change
+$209K

Top Buyers

Rank Fund Capital Flow
1
HighTower Advisors
HighTower Advisors
Illinois
+$8.41M
2
Goldman Sachs
Goldman Sachs
New York
+$3.01M
3
Citadel Advisors
Citadel Advisors
Florida
+$2.37M
4
LPL Financial
LPL Financial
California
+$2.05M
5
TRCT
Tower Research Capital (TRC)
New York
+$1.78M

Top Sellers

Rank Fund Capital Flow
1
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
-$8.67M
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$2.43M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$1.43M
4
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$481K
5
OC
Oppenheimer & Co
New York
-$449K
Name Holding Trade Value Shares
Change 		Change in
Stake
BlackRock
1
BlackRock
New York
$14.6M -$245K -9,848 -2%
HighTower Advisors
2
HighTower Advisors
Illinois
$9.23M +$8.41M +338,120 New
LPL Financial
3
LPL Financial
California
$8.23M +$2.05M +82,532 +38%
Citadel Advisors
4
Citadel Advisors
Florida
$3.62M +$2.37M +95,440 +257%
Goldman Sachs
5
Goldman Sachs
New York
$3.3M +$3.01M +120,913 New
TRCT
6
Tower Research Capital (TRC)
New York
$2.17M +$1.78M +71,364 +876%
IFG
7
Independent Financial Group
California
$2.12M +$1.1M +44,122 +132%
CCFM
8
Clear Creek Financial Management
Washington
$1.75M +$1.09M +43,936 +220%
SPIA
9
Steward Partners Investment Advisory
New York
$1.41M +$1.29M +51,711 New
OC
10
Oppenheimer & Co
New York
$1.4M -$449K -18,049 -26%
RAG
11
RIA Advisory Group
Iowa
$1.33M +$311K +12,508 +34%
CPC
12
Consolidated Planning Corp
Georgia
$1.24M +$1.13M +45,333 New
Jane Street
13
Jane Street
New York
$1.11M +$623K +25,021 +159%
KAS
14
Kestra Advisory Services
Texas
$993K +$51.9K +2,084 +6%
D.E. Shaw & Co
15
D.E. Shaw & Co
New York
$943K +$860K +34,572 New
Commonwealth Equity Services
16
Commonwealth Equity Services
Massachusetts
$736K +$352K +14,134 +110%
HF
17
HRT Financial
New York
$686K +$626K +25,154 New
Susquehanna International Group
18
Susquehanna International Group
Pennsylvania
$622K -$1.43M -57,354 -72%
PFS
19
Prospera Financial Services
Texas
$559K +$210K +8,436 +70%
Cetera Investment Advisers
20
Cetera Investment Advisers
Illinois
$531K -$8.67M -348,300 -95%
Legacy Financial Group (Iowa)
21
Legacy Financial Group (Iowa)
Iowa
$444K +$195K +7,839 +93%
PAG
22
Private Advisor Group
New Jersey
$379K +$346K +13,902 New
SFC
23
Strategic Financial Concepts
Texas
$332K +$44.5K +1,790 +16%
JWCA
24
J.W. Cole Advisors
Florida
$316K +$288K +11,595 New
DAS
25
Diversify Advisory Services
Utah
$275K +$21.3K +857 +10%
1
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TOPT Hedge Fund Activity: Q2 2025 in Review

47 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in iShares Top 20 U.S. Stocks ETF (TOPT) for Q2 2025, worth a combined $61.2M — up 49% from $41.1M a quarter earlier.

Buyers outnumbered sellers: 19 funds opened new TOPT positions and 3 closed out — a net gain of 16 holders — while 18 added to existing stakes and 6 trimmed.

The largest buyer was HighTower Advisors, opening a new position worth an estimated $8.41M. The largest seller was Cetera Investment Advisers, cutting an estimated $8.67M.

  • 47 institutional investors held iShares Top 20 U.S. Stocks ETF (TOPT) as of Q2 2025, up from 31 in Q1 2025.
  • Funds reported $61.2M of iShares Top 20 U.S. Stocks ETF stock for Q2 2025, up 49% quarter-over-quarter.
  • 19 funds opened new iShares Top 20 U.S. Stocks ETF positions in Q2 2025 and 3 closed out, a net change of +16 holders.
  • The largest iShares Top 20 U.S. Stocks ETF buyer in Q2 2025 was HighTower Advisors, an estimated $8.41M added.
  • The largest iShares Top 20 U.S. Stocks ETF seller in Q2 2025 was Cetera Investment Advisers, an estimated $8.67M sold.

Based on aggregated 13F filings for Q2 2025.