iShares U.S. Insurance

IAK • ARCA

iShares U.S. Insurance is an exchange-traded fund on ARCA. As of Q3 2025, 156 institutional investors hold shares in this ETF, with total holdings valued at $461.7M. MORGAN STANLEY is the largest holder with a position valued at $40.6M.

Overview

Overview of institutional ownership in IAK as of Q3 2025

All Institutions

Institutions: 156
Value Held: $461.7M
Shares Held: 3.4M
Avg Position: $3.0M
Median Position: $528.6K

Hedge Funds

Hedge Funds: 2
Value Held: $13.1M
Shares Held: 97.5K
Avg Position: $6.5M
Median Position: $6.5M

Biggest Investors

Institutions with the largest positions in IAK as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$40.6M 0.00% of portfolio	303.1K shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
Miracle Mile Advisors, LLC RIA/Wealth	Bruce Wayne Milam CEO	$32.7M 0.49% of portfolio	244.2K shares	Q4 2024 Held for 11 months	$6.6B
MML INVESTORS SERVICES, LLC RIA/Wealth	Vaughn Charles Bowman CEO	$31.6M 0.09% of portfolio	235.8K shares	Q1 2022 Held for 3y 8m	$36.7B
S SPC Financial, Inc. RIA/Wealth	Edward Geoffrey Sella CEO	$20.9M 1.63% of portfolio	155.9K shares	Q3 2022 Held for 3y 2m	$1.3B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$20.4M 0.00% of portfolio	152.2K shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
S STIFEL FINANCIAL CORP Long Only Manager	Adam Vartan Topalian CIO	$19.9M 0.02% of portfolio	148.8K shares	Q1 2022 Held for 3y 8m	$109.37B
R ROYAL BANK OF CANADA Institution	-	$16.1M 0.00% of portfolio	120.2K shares	≤ Q2 2013 Held for 12y 5m+	$542.04B
A Advisory Services Network, LLC RIA/Wealth	Thomas Cleveland Prescott Managing Partner	$15.6M 0.23% of portfolio	116.2K shares	Q2 2022 Held for 3y 5m	$6.8B
A Advisor Group Holdings, Inc. Institution	-	$15.1M 0.02% of portfolio	113.5K shares	Q1 2020 Held for 5y 8m	$71.0B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$13.4M 0.00% of portfolio	100.1K shares	≤ Q2 2013 Held for 12y 5m+	$1.33T

Net Capital Flow

Institutional buying and selling activity for IAK in Q3 2025

Traded: −$46.2M
Buyers: 79
Sellers: 84
Total Bought: +$40.9M
Total Sold: −$87.2M
Avg Position: $2.5M

Biggest Buyers

Institution	Net Bought	Current Position
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	+$11.3M +84.1K shares	$12.5M 93.4K shares
Miracle Mile Advisors, LLC RIA/Wealth	+$3.4M +25.2K shares	$32.7M 244.2K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	+$2.3M +16.9K shares	$31.6M 235.8K shares
PFG Advisors RIA/Wealth	+$1.8M +13.4K shares	$1.8M 13.4K shares
H HRT FINANCIAL LLC Institution	+$1.6M +12.3K shares	$1.6M 12.3K shares
GOLDMAN SACHS GROUP INC Institution	+$1.5M +11.5K shares	$6.1M 45.3K shares
Janney Montgomery Scott LLC RIA/Wealth	+$1.4M +10.3K shares	$4.3M 32.4K shares
CITIGROUP INC Institution	+$1.3M +9.9K shares	$1.3M 9.9K shares
A Advisory Services Network, LLC RIA/Wealth	+$1.3M +9.6K shares	$15.6M 116.2K shares
Cambridge Investment Research Advisors, Inc. RIA/Wealth	+$1.3M +9.5K shares	$4.4M 32.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
L LPL Financial LLC Institution	−$12.7M −94.9K shares	$12.1M 90.3K shares
WELLS FARGO & COMPANY/MN Institution	−$10.1M −75.2K shares	$20.4M 152.2K shares
ADAPT WEALTH ADVISORS, LLC RIA/Wealth	−$8.6M −64.2K shares	Sold Off 0 shares
CASTLEARK MANAGEMENT LLC Long Only Manager	−$7.3M −54.1K shares	Sold Off 0 shares
FOUNDERS FINANCIAL SECURITIES LLC RIA/Wealth	−$4.9M −36.4K shares	Sold Off 0 shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$3.3M −24.4K shares	$9.4M 69.8K shares
BANK OF AMERICA CORP /DE/ Institution	−$3.1M −23.0K shares	$13.4M 100.1K shares
Goss Wealth Management LLC RIA/Wealth	−$3.0M −22.3K shares	$606.9K 4.5K shares
G GTS SECURITIES LLC Institution	−$2.9M −22.0K shares	$409.1K 3.1K shares
Game Plan Financial Advisors, LLC RIA/Wealth	−$2.6M −19.7K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited IAK in Q3 2025

New Positions: 12
New Value: $2.0M
Exited Positions: 30
Exited Value: $40.3M

New Positions

Institution	Position Value
ACCESS FINANCIAL SERVICES, INC. RIA/Wealth	$814.2K 6.1K shares
Rockefeller Capital Management L.P. Long Only Manager	$545.7K 4.1K shares
FIRST HORIZON NATIONAL CORP RIA/Wealth	$273.2K 2.0K shares
Accredited Investors Inc. RIA/Wealth	$256.0K 1.9K shares
FINANCIAL CONSULATE, INC RIA/Wealth	$34.7K 259.0 shares
T TRUST CO OF VERMONT Institution	$33.5K 250.0 shares
MAI Wealth Advisors RIA/Wealth	$31.5K 235.0 shares
Sontag Advisory, LLC RIA/Wealth	$28.0K 209.0 shares
O'SHAUGHNESSY ASSET MANAGEMENT, LLC Long Only Manager	$7.4K 55.0 shares
Clayton Financial Group LLC RIA/Wealth	$6.7K 50.0 shares

Exited Positions

Institution	Previous Position
ADAPT WEALTH ADVISORS, LLC RIA/Wealth	$8.6M 64.2K shares
CASTLEARK MANAGEMENT LLC Long Only Manager	$7.3M 54.1K shares
FOUNDERS FINANCIAL SECURITIES LLC RIA/Wealth	$4.9M 36.4K shares
Game Plan Financial Advisors, LLC RIA/Wealth	$2.6M 19.7K shares
VestGen Advisors, LLC RIA/Wealth	$2.1M 15.6K shares
J JANE STREET GROUP, LLC Institution	$2.0M 15.2K shares
Chicago Wealth Management, Inc. RIA/Wealth	$1.9M 14.3K shares
Eagle Strategies LLC RIA/Wealth	$1.9M 14.0K shares
LEE JOHNSON CAPITAL MANAGEMENT, LLC RIA/Wealth	$1.3M 9.8K shares
Financial Management Professionals, Inc. RIA/Wealth	$1.0M 7.7K shares

Options Activity

Institutions with the largest Call and Put options positions in IAK as of Q3 2025

Call Positions: 1
Call Value: $26.8K
Put Positions: 1
Put Value: $53.6K

Call Positions

Institution	Position Value
B Belvedere Trading LLC Institution	$26.8K 2.0 contracts

Put Positions

Institution	Position Value
B Belvedere Trading LLC Institution	$53.6K 4.0 contracts

Most Committed Institutions

Institutions with IAK as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
GGM Financials LLC RIA/Wealth	Aaron Brady Green Managing Partner	4.83% $9.5M	71.2K shares	Q4 2024 Held for 11 months	$197.6M
Legend Financial Advisors, Inc. RIA/Wealth	James Jude Holtzman CEO	4.28% $7.0M	52.0K shares	Q2 2022 Held for 3y 5m	$163.1M
W WESPAC Advisors SoCal, LLC Institution	-	2.51% $12.0M	89.5K shares	Q4 2023 Held for 1y 11m	$477.4M
C COTTONWOOD CAPITAL ADVISORS, LLC RIA/Wealth	Matthew Donald Pappas Managing Partner	2.51% $3.4M	25.7K shares	Q4 2022 Held for 2y 11m	$137.3M
F Fiduciary Planning LLC Institution	-	2.24% $7.3M	54.5K shares	Q3 2023 Held for 2y 2m	$326.8M
MinichMacGregor Wealth Management, LLC RIA/Wealth	Martin James Briesach Managing Partner	1.87% $9.6M	71.6K shares	Q2 2022 Held for 3y 5m	$512.7M
Tudor Financial Inc. RIA/Wealth	Grant Steven Donaldson CCO	1.72% $3.2M	24.1K shares	Q3 2024 Held for 1y 2m	$188.2M
S SPC Financial, Inc. RIA/Wealth	Edward Geoffrey Sella CEO	1.63% $20.9M	155.9K shares	Q3 2022 Held for 3y 2m	$1.3B
C Cadent Capital Advisors, LLC RIA/Wealth	Philip Andrew Mooberry Managing Partner	1.39% $5.2M	39.1K shares	Q2 2022 Held for 3y 5m	$377.4M
Capital Advisory Group Advisory Services, LLC RIA/Wealth	Brett Allen Machtig Managing Partner	1.10% $3.5M	26.3K shares	Q2 2020 Held for 5y 5m	$321.2M

Hedge Fund Spotlight

Discover hedge funds investing in IAK

TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerScott David Hoffman

Portfolio Value: $62.0B
Positions: 3,252
Last Reported: Q3 2025

Sector Allocation

Position in iShares U.S. Insurance

Market Value: $11.5M
Shares Held: 85.6K
Portfolio Weight: 0.02%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%