iShares Preferred and Income Securities ETF

PFF • NASDAQ

iShares Preferred and Income Securities ETF is an exchange-traded fund on NASDAQ. As of Q3 2025, 965 institutional investors hold shares in this ETF, with total holdings valued at $5.8B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $763.6M.

Overview

Overview of institutional ownership in PFF as of Q3 2025

All Institutions

Institutions: 965
Value Held: $5.8B
Shares Held: 183.8M
Avg Position: $6.0M
Median Position: $675.5K

Hedge Funds

Hedge Funds: 22
Value Held: $248.5M
Shares Held: 7.9M
Avg Position: $11.3M
Median Position: $701.9K

Biggest Investors

Institutions with the largest positions in PFF as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$763.6M 0.06% of portfolio	24.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$486.7M 0.03% of portfolio	15.4M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$294.2M 0.06% of portfolio	9.3M shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
L LPL Financial LLC Institution	-	$256.4M 0.08% of portfolio	8.1M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
Bramshill Investments, LLC Hedge Fund•Multi-Strategy	Stephen Christopher Selver CEO	$197.3M 13.47% of portfolio	6.2M shares	Q3 2025 Held for 2 months	$1.5B
UBS Group AG Institution	Sergio P. Ermotti CEO	$180.8M 0.04% of portfolio	5.7M shares	Q4 2014 Held for 10y 11m	$511.54B
R ROYAL BANK OF CANADA Institution	-	$141.5M 0.03% of portfolio	4.5M shares	≤ Q2 2013 Held for 12y 5m+	$542.04B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$128.9M 0.04% of portfolio	4.1M shares	≤ Q2 2013 Held for 12y 5m+	$341.99B
Mariner Wealth Advisors, LLC RIA/Wealth	Martin Christopher Bicknell CEO	$118.1M 0.15% of portfolio	3.7M shares	Q4 2013 Held for 11y 11m	$77.3B
F FIRST INTERSTATE BANK Institution	-	$90.8M 5.01% of portfolio	2.9M shares	Q2 2021 Held for 4y 5m	$1.8B

Net Capital Flow

Institutional buying and selling activity for PFF in Q3 2025

Traded: +$320.3M
Buyers: 455
Sellers: 432
Total Bought: +$688.5M
Total Sold: −$368.2M
Avg Position: $5.6M

Biggest Buyers

Institution	Net Bought	Current Position
Bramshill Investments, LLC Hedge Fund•Multi-Strategy	+$197.3M +6.2M shares	$197.3M 6.2M shares
BANK OF AMERICA CORP /DE/ Institution	+$82.7M +2.6M shares	$763.6M 24.1M shares
Steward Partners Investment Advisory, LLC RIA/Wealth	+$33.5M +1.1M shares	$47.4M 1.5M shares
Wright Fund Managment, LLC Long Only Manager	+$25.0M +791.6K shares	$25.0M 791.6K shares
GOLDMAN SACHS GROUP INC Institution	+$20.2M +637.8K shares	$27.4M 867.7K shares
GENWORTH FINANCIAL WEALTH MANAGEMENT, INC Long Only Manager	+$13.6M +431.2K shares	$19.3M 609.0K shares
F FUKOKU MUTUAL LIFE INSURANCE Co Institution	+$12.3M +388.0K shares	$30.2M 955.5K shares
Cetera Investment Advisers RIA/Wealth	+$11.5M +362.5K shares	$57.1M 1.8M shares
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	+$11.2M +354.3K shares	$11.2M 354.3K shares
Horizon Investments, LLC/SC Long Only Manager	+$10.6M +339.1K shares	$10.6M 339.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$82.8M −2.7M shares	Sold Off 0 shares
M Montis Financial, LLC RIA/Wealth	−$26.2M −828.1K shares	$5.7M 180.0K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	−$24.5M −774.2K shares	$18.8M 595.7K shares
P Price Capital Management, Inc. Hedge Fund•Long/Short	−$19.2M −606.9K shares	$3.2M 102.5K shares
C COUNTRY TRUST BANK Institution	−$18.0M −569.0K shares	$31.6K 1.0K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$15.5M −506.8K shares	Sold Off 0 shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	−$13.3M −420.9K shares	$44.4M 1.4M shares
AlphaStar Capital Management, LLC RIA/Wealth	−$10.2M −333.4K shares	Sold Off 0 shares
Q Quadrature Capital Ltd Institution	−$7.5M −236.6K shares	$2.4M 75.4K shares
H HRT FINANCIAL LLC Institution	−$6.0M −188.2K shares	$8.8M 278.7K shares

Entry and Exit Activity

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

New Positions: 30
New Value: $19.3M
Exited Positions: 76
Exited Value: $147.7M

New Positions

Institution	Position Value
Cambria Investment Management, L.P. ETF Provider	$4.1M 130.4K shares
WJ Financial Advisors LLC RIA/Wealth	$2.9M 92.9K shares
Catalytic Wealth RIA, LLC RIA/Wealth	$2.7M 85.8K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$1.7M 52.9K shares
FIRST COMMONWEALTH FINANCIAL CORP /PA/ Institution	$1.6M 51.0K shares
S Sunbeam Capital Management, LLC RIA/Wealth	$1.0M 32.4K shares
Colony Family Offices, LLC Family Office	$711.8K 22.5K shares
P Portfolio Strategies, Inc. RIA/Wealth	$653.4K 20.7K shares
FCA CORP /TX RIA/Wealth	$641.6K 20.3K shares
F FORMULATE FINANCIAL LLC RIA/Wealth	$517.3K 16.4K shares

Exited Positions

Institution	Previous Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$82.8M 2.7M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$15.5M 506.8K shares
AlphaStar Capital Management, LLC RIA/Wealth	$10.2M 333.4K shares
Eagle Strategies LLC RIA/Wealth	$5.2M 169.3K shares
P Proficio Capital Partners LLC Family Office	$5.0M 4.8M shares
PREVAIL INNOVATIVE WEALTH ADVISORS, LLC RIA/Wealth	$3.2M 105.1K shares
Victrix Investment Advisors RIA/Wealth	$2.7M 88.5K shares
H HSBC HOLDINGS PLC Institution	$2.2M 71.3K shares
T TD ASSET MANAGEMENT INC Institution	$1.9M 61.6K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$1.9M 60.4K shares

Options Activity

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

Call Positions: 6
Call Value: $5.4M
Put Positions: 7
Put Value: $8.6M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.6M 811.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.7M 532.0 contracts
J JANE STREET GROUP, LLC Institution	$1.2M 377.0 contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	- - contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	- - contracts
W WOLVERINE TRADING, LLC Institution	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.6M 1.1K contracts
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.2M 700.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.3M 396.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.1M 354.0 contracts
J JANE STREET GROUP, LLC Institution	$414.2K 131.0 contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	- - contracts
W WOLVERINE TRADING, LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Bramshill Investments, LLC Hedge Fund•Multi-Strategy	Stephen Christopher Selver CEO	13.47% $197.3M	6.2M shares	Q3 2025 Held for 2 months	$1.5B
G Glaxis Capital Management, LLC Hedge Fund•Global Macro	Matthew Marc Miller Managing Partner	11.07% $6.4M	201.5K shares	Q2 2023 Held for 2y 5m	$57.5M
Penn Mutual Asset Management, LLC Insurance Manager	David Michael O'Malley Chairman	7.57% $3.1M	97.3K shares	Q4 2022 Held for 2y 11m	$40.7M
Capital Square, LLC RIA/Wealth	Notley Sidney Maddox Managing Partner	6.59% $12.9M	408.7K shares	Q1 2024 Held for 1y 8m	$196.1M
Edge Wealth Management LLC RIA/Wealth	Matthew Alan Weinberg Managing Partner	6.42% $36.2M	1.1M shares	≤ Q2 2013 Held for 12y 5m+	$563.7M
Fortress Financial Solutions, LLC RIA/Wealth	Adam Amante Member	6.16% $5.7M	178.7K shares	Q4 2024 Held for 11 months	$91.8M
Mountain Hill Investment Partners Corp. RIA/Wealth	Andrew John Kaiser CEO	6.00% $6.8M	216.5K shares	Q4 2024 Held for 11 months	$114.1M
F FIRST INTERSTATE BANK Institution	-	5.01% $90.8M	2.9M shares	Q2 2021 Held for 4y 5m	$1.8B
REDMONT WEALTH ADVISORS LLC RIA/Wealth	James Milton Thomas Langer CIO	4.73% $3.4M	108.0K shares	Q4 2021 Held for 3y 11m	$72.2M
S SWAN Capital LLC RIA/Wealth	Andrew Scott Mcnair CCO	4.59% $11.3M	357.9K shares	Q3 2023 Held for 2y 2m	$246.6M

Hedge Fund Spotlight

Discover hedge funds investing in PFF

Cove Street Capital, LLC

Hedge Fund • Value

Portfolio ManagerMatthew James Weber

Portfolio Value: $75.9M
Positions: 93
Last Reported: Q3 2025

Sector Allocation

Position in iShares Preferred and Income Securities ETF

Market Value: $142.3K
Shares Held: 4.5K
Portfolio Weight: 0.19%
Owned Since: 2024-Q1

Top Holding	Sector	Market Value	Weight
1 American Vanguard AVD	Agricultural Inputs Basic Materials	$8.0M	10.58%
2 Research Solutions RSSS	Software - Application Technology	$5.0M	6.56%
3 Six Flags Entertainment FUN	Leisure Consumer Cyclical	$4.6M	6.12%