iShares 10-20 Year Treasury Bond

TLH • ARCA

iShares 10-20 Year Treasury Bond is an exchange-traded fund on ARCA. As of Q3 2025, 555 institutional investors hold shares in this ETF, with total holdings valued at $11.8B. ENVESTNET ASSET MANAGEMENT INC is the largest holder with a position valued at $2.6B.

Overview

Overview of institutional ownership in TLH as of Q3 2025

All Institutions

Institutions: 555
Value Held: $11.8B
Shares Held: 115.1M
Avg Position: $21.3M
Median Position: $1.2M

Hedge Funds

Hedge Funds: 4
Value Held: $7.9M
Shares Held: 76.4K
Avg Position: $2.0M
Median Position: $1.1M

Biggest Investors

Institutions with the largest positions in TLH as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$2.6B 0.75% of portfolio	24.8M shares	≤ Q2 2013 Held for 12y 6m+	$342.01B
L LPL Financial LLC Institution	-	$964.6M 0.28% of portfolio	9.4M shares	≤ Q2 2013 Held for 12y 6m+	$340.07B
Forum Financial Management, LP RIA/Wealth	Jonathan Marichal Rogers CIO	$825.1M 11.29% of portfolio	8.0M shares	Q4 2022 Held for 3 years	$7.3B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$818.0M 0.06% of portfolio	7.9M shares	≤ Q2 2013 Held for 12y 6m+	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$413.0M 0.03% of portfolio	4.0M shares	≤ Q2 2013 Held for 12y 6m+	$1.65T
BlackRock, Inc. Institution	Laurence D. Fink CEO	$411.4M 0.01% of portfolio	4.0M shares	Q3 2016 Held for 9y 3m	$5.67T
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$361.7M 0.02% of portfolio	3.5M shares	Q3 2018 Held for 7y 3m	$1.56T
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$298.3M 0.07% of portfolio	2.9M shares	Q3 2015 Held for 10y 3m	$433.11B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$253.7M 0.05% of portfolio	2.5M shares	≤ Q2 2013 Held for 12y 6m+	$488.52B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$244.1M 0.29% of portfolio	2.4M shares	Q2 2020 Held for 5y 6m	$85.4B

Net Capital Flow

Institutional buying and selling activity for TLH in Q3 2025

Traded: +$1.1B
Buyers: 381
Sellers: 173
Total Bought: +$1.7B
Total Sold: −$608.9M
Avg Position: $20.0M

Biggest Buyers

Institution	Net Bought	Current Position
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$579.1M +5.6M shares	$2.6B 24.8M shares
L LPL Financial LLC Institution	+$234.2M +2.3M shares	$964.6M 9.4M shares
Cetera Investment Advisers RIA/Wealth	+$69.6M +675.5K shares	$244.1M 2.4M shares
HAMILTON CAPITAL PARTNERS, LLC RIA/Wealth	+$61.9M +600.8K shares	$61.9M 600.8K shares
MORGAN STANLEY RIA/Wealth	+$54.5M +529.1K shares	$413.0M 4.0M shares
JPMORGAN CHASE & CO Institution	+$49.6M +481.3K shares	$361.7M 3.5M shares
PARK AVENUE SECURITIES LLC RIA/Wealth	+$49.1M +476.3K shares	$195.9M 1.9M shares
Goss Wealth Management LLC RIA/Wealth	+$41.4M +402.2K shares	$99.2M 963.3K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	+$40.7M +395.3K shares	$170.3M 1.7M shares
Bank of New York Mellon Corp Institution	+$24.8M +240.5K shares	$121.1M 1.2M shares

Biggest Sellers

Institution	Net Sold	Current Position
BANK OF AMERICA CORP /DE/ Institution	−$191.0M −1.9M shares	$818.0M 7.9M shares
WELLS FARGO & COMPANY/MN Institution	−$105.4M −1.0M shares	$253.7M 2.5M shares
Richard Bernstein Advisors LLC Long Only Manager	−$65.5M −633.4K shares	$111.0M 1.1M shares
Vestmark Advisory Solutions, Inc. Fund of Funds	−$25.0M −242.3K shares	$20.8M 202.3K shares
HighTower Advisors, LLC RIA/Wealth	−$24.5M −237.6K shares	$18.7M 181.5K shares
B BENJAMIN EDWARDS INC Institution	−$23.6M −229.5K shares	$96.2M 934.3K shares
Envestnet Portfolio Solutions, Inc. Long Only Manager	−$22.4M −217.7K shares	$230.0M 2.2M shares
S STIFEL FINANCIAL CORP Long Only Manager	−$20.8M −201.8K shares	$204.6M 2.0M shares
CONFLUENCE INVESTMENT MANAGEMENT LLC Long Only Manager	−$20.5M −199.1K shares	$37.4M 363.1K shares
ARGI Investment Services, LLC Fund of Funds	−$11.7M −113.8K shares	$67.0M 650.9K shares

Entry and Exit Activity

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

New Positions: 50
New Value: $100.5M
Exited Positions: 37
Exited Value: $30.4M

New Positions

Institution	Position Value
HAMILTON CAPITAL PARTNERS, LLC RIA/Wealth	$61.9M 600.8K shares
V Vise Technologies, Inc. Institution	$6.4M 62.3K shares
Shilanski & Associates, Inc. RIA/Wealth	$5.0M 48.5K shares
ASHTON THOMAS SECURITIES, LLC RIA/Wealth	$4.1M 40.1K shares
S STATE FARM MUTUAL AUTOMOBILE INSURANCE CO Institution	$4.0M 38.8K shares
A4 Wealth Advisors LLC RIA/Wealth	$3.7M 36.1K shares
Lansing Street Advisors RIA/Wealth	$1.9M 18.2K shares
HBK Sorce Advisory LLC Hedge Fund•Multi-Strategy	$1.7M 16.8K shares
Mach-1 Financial Group, Inc. RIA/Wealth	$1.2M 11.6K shares
Integrity Advisory Solutions, LLC RIA/Wealth	$1.2M 11.6K shares

Exited Positions

Institution	Previous Position
P Phoenix Holdings Ltd. Institution	$6.8M 67.1K shares
First Citizens Asset Management, Inc. RIA/Wealth	$2.9M 28.4K shares
R Robertson Stephens Wealth Management, LLC Institution	$2.1M 20.6K shares
Alternative Investment Advisors, LLC. RIA/Wealth	$2.0M 19.5K shares
Financial Advocates Investment Management RIA/Wealth	$1.7M 17.6K shares
J JANE STREET GROUP, LLC Institution	$1.4M 13.4K shares
Walkner Condon Financial Advisors LLC RIA/Wealth	$1.2M 12.0K shares
MILESTONE ASSET MANAGEMENT, LLC RIA/Wealth	$1.1M 11.2K shares
Buckingham Strategic Partners RIA/Wealth	$991.4K 9.8K shares
TOWNSQUARE CAPITAL LLC RIA/Wealth	$928.8K 9.1K shares

Options Activity

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

Call Positions: 4
Call Value: $7.7M
Put Positions: 3
Put Value: $3.3M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.5M 538.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.7M 164.0 contracts
J JANE STREET GROUP, LLC Institution	$442.9K 43.0 contracts
W WOLVERINE TRADING, LLC Institution	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.4M 237.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$823.9K 80.0 contracts
W WOLVERINE TRADING, LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
HAMILTON CAPITAL PARTNERS, LLC RIA/Wealth	Alonso Munoz CIO	23.74% $61.9M	600.8K shares	Q3 2025 Held for 3 months	$260.6M
Forum Financial Management, LP RIA/Wealth	Jonathan Marichal Rogers CIO	11.29% $825.1M	8.0M shares	Q4 2022 Held for 3 years	$7.3B
W Watchman Group, Inc. Institution	-	6.29% $26.0M	252.5K shares	Q2 2025 Held for 6 months	$413.1M
K Kelly Financial Services LLC RIA/Wealth	Kelly D. Kelly President	5.39% $20.1M	195.4K shares	Q3 2021 Held for 4y 3m	$373.6M
High Falls Advisors, Inc RIA/Wealth	Kenneth Joseph Burke CEO	3.69% $17.4M	169.2K shares	Q3 2021 Held for 4y 3m	$472.3M
ARGI Investment Services, LLC Fund of Funds	Kevin David Hilden COO	3.42% $67.0M	650.9K shares	Q2 2025 Held for 6 months	$2.0B
T Tidemark, LLC RIA/Wealth	Jessica J Roeper CCO	3.41% $11.5M	111.4K shares	Q4 2023 Held for 2 years	$336.4M
T True Vision MN LLC Institution	-	3.36% $6.2M	60.5K shares	Q4 2023 Held for 2 years	$185.6M
ONE Advisory Partners, LLC RIA/Wealth	Ronald Nelson Sanders CEO	3.32% $10.5M	101.1K shares	Q3 2021 Held for 4y 3m	$316.2M
S Sheridan Capital Management, LLC RIA/Wealth	Conor Michael Sheridan Managing Partner	3.30% $6.3M	60.8K shares	Q4 2023 Held for 2 years	$189.3M