iShares MSCI USA Value Factor

VLUE • BATS

iShares MSCI USA Value Factor is an exchange-traded fund on BATS. As of Q3 2025, 423 institutional investors hold shares in this ETF, with total holdings valued at $6.2B. NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO is the largest holder with a position valued at $2.8B.

Overview

Overview of institutional ownership in VLUE as of Q3 2025

All Institutions

Institutions: 423
Value Held: $6.2B
Shares Held: 49.3M
Avg Position: $14.6M
Median Position: $513.7K

Hedge Funds

Hedge Funds: 5
Value Held: $5.5M
Shares Held: 44.1K
Avg Position: $1.1M
Median Position: $298.7K

Biggest Investors

Institutions with the largest positions in VLUE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	-	$2.8B 1.85% of portfolio	22.2M shares	Q2 2016 Held for 9y 5m	$149.83B
Mason Investment Advisory Services, Inc. RIA/Wealth	Christopher Lee Schreiner CEO	$588.1M 29.29% of portfolio	4.7M shares	Q2 2019 Held for 6y 5m	$2.0B
Matson Money. Inc. RIA/Wealth	Mark Edward Matson CEO	$325.3M 10.71% of portfolio	2.6M shares	Q3 2020 Held for 5y 2m	$3.0B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$221.2M 0.02% of portfolio	1.8M shares	Q4 2014 Held for 10y 11m	$1.33T
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds	Neil David Blundell CIO	$187.1M 0.34% of portfolio	1.5M shares	Q3 2025 Held for 2 months	$55.5B
B BlackRock, Inc. Institution	-	$183.6M 0.00% of portfolio	1.5M shares	Q2 2016 Held for 9y 5m	$5.67T
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	Charles David Welling CEO	$158.3M 0.26% of portfolio	1.3M shares	Q1 2019 Held for 6y 8m	$59.9B
Wharton Business Group, LLC RIA/Wealth	Billy Joe Webster CCO	$150.8M 6.59% of portfolio	1.2M shares	Q3 2016 Held for 9y 2m	$2.3B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$92.8M 0.01% of portfolio	742.3K shares	Q4 2013 Held for 11y 11m	$1.65T
PNC FINANCIAL SERVICES GROUP, INC. Institution	William S. Demchak CEO	$69.0M 0.04% of portfolio	551.8K shares	Q1 2016 Held for 9y 8m	$164.83B

Net Capital Flow

Institutional buying and selling activity for VLUE in Q3 2025

Net Flow: −$225.1M
Buyers: 119
Sellers: 195
Total Bought: +$163.9M
Total Sold: −$389.0M
Avg Position: $14.4M

Biggest Buyers

Institution	Net Bought	Current Position
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	+$72.3M +578.0K shares	$2.8B 22.2M shares
Lido Advisors, LLC RIA/Wealth	+$16.7M +133.4K shares	$19.6M 157.1K shares
FMR LLC Institution	+$13.7M +109.3K shares	$62.6M 500.7K shares
A Advisor Group Holdings, Inc. Institution	+$9.2M +73.9K shares	$17.9M 144.1K shares
Janney Montgomery Scott LLC RIA/Wealth	+$7.7M +61.3K shares	$41.2M 329.8K shares
CWM, LLC RIA/Wealth	+$5.6M +44.7K shares	$29.8M 238.0K shares
Mason Investment Advisory Services, Inc. RIA/Wealth	+$4.9M +38.9K shares	$588.1M 4.7M shares
Cetera Investment Advisers RIA/Wealth	+$4.7M +38.0K shares	$11.6M 92.8K shares
N NOMURA ASSET MANAGEMENT CO LTD Long Only Manager	+$3.5M +28.0K shares	$3.5M 28.0K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$3.0M +24.0K shares	$4.8M 38.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$158.0M −1.3M shares	$16.7M 133.8K shares
R ROYAL BANK OF CANADA Institution	−$76.9M −614.8K shares	$32.2M 257.2K shares
N Nan Shan Life Insurance Co., Ltd. Institution	−$23.2M −205.0K shares	Sold Off 0 shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	−$17.6M −140.5K shares	$158.3M 1.3M shares
M&T BANK CORP Institution	−$11.8M −94.6K shares	$44.5M 355.5K shares
B BlackRock, Inc. Institution	−$9.4M −75.3K shares	$183.6M 1.5M shares
B BNP PARIBAS ARBITRAGE, SA Institution	−$7.5M −60.0K shares	$24.7M 197.2K shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$6.4M −56.2K shares	Sold Off 0 shares
Streettalk Advisors, LLC RIA/Wealth	−$5.4M −42.8K shares	$18.4M 147.4K shares
AMERIPRISE FINANCIAL INC Institution	−$5.3M −42.1K shares	$10.3M 82.3K shares

Entry and Exit Activity

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

New Positions: 26
New Value: $238.7M
Exited Positions: 36
Exited Value: $46.0M

New Positions

Institution	Position Value
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds	$187.1M 1.5M shares
M MASON STREET ADVISORS, LLC Insurance Manager	$40.0M 320.0K shares
E Erste Asset Management GmbH Institution	$5.6M 45.1K shares
SEVEN MILE ADVISORY RIA/Wealth	$952.4K 7.6K shares
Optivise Advisory Services LLC RIA/Wealth	$706.8K 5.7K shares
CPR Investments Inc. RIA/Wealth	$518.6K 4.1K shares
Integrity Advisory Solutions, LLC RIA/Wealth	$465.2K 3.7K shares
Kaufman Rossin Wealth, LLC RIA/Wealth	$370.8K 3.0K shares
Mirae Asset Global Investments Co., Ltd. Long Only Manager	$362.6K 2.9K shares
FIRST FINANCIAL BANKSHARES INC Institution	$342.6K 2.7K shares

Exited Positions

Institution	Previous Position
N Nan Shan Life Insurance Co., Ltd. Institution	$23.2M 205.0K shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	$6.4M 56.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.9M 42.9K shares
F FLOW TRADERS U.S. LLC Institution	$2.7M 24.2K shares
LEUCADIA NATIONAL CORP Institution	$2.3M 20.0K shares
P PRUDENTIAL PLC Institution	$1.6M 14.4K shares
G GTS SECURITIES LLC Institution	$805.2K 7.1K shares
T TWO SIGMA SECURITIES, LLC Institution	$710.6K 6.3K shares
Y Y-Intercept Ltd Institution	$506.4K 4.5K shares
SILVER OAK SECURITIES, Inc RIA/Wealth	$384.6K 3.4K shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Mason Investment Advisory Services, Inc. RIA/Wealth	Christopher Lee Schreiner CEO	29.29% $588.1M	4.7M shares	Q2 2019 Held for 6y 5m	$2.0B
Stonehearth Capital Management, LLC RIA/Wealth	Jamie Allen Upson CEO	12.57% $32.5M	259.8K shares	Q1 2015 Held for 10y 8m	$258.4M
Mullooly Asset Management, Inc. RIA/Wealth	Thomas Peter Mullooly President	11.77% $30.7M	245.3K shares	Q1 2025 Held for 8 months	$260.7M
Matson Money. Inc. RIA/Wealth	Mark Edward Matson CEO	10.71% $325.3M	2.6M shares	Q3 2020 Held for 5y 2m	$3.0B
Wharton Business Group, LLC RIA/Wealth	Billy Joe Webster CCO	6.59% $150.8M	1.2M shares	Q3 2016 Held for 9y 2m	$2.3B
SYNTAX RESEARCH, INC. Long Only Manager	Sandeep Sharma Founder	5.16% $8.0M	64.2K shares	Q3 2023 Held for 2y 2m	$155.6M
M MASON STREET ADVISORS, LLC Insurance Manager	Bonnie Lynn Tomczak Chairman	4.15% $40.0M	320.0K shares	Q3 2025 Held for 2 months	$964.8M
Kathmere Capital Management, LLC RIA/Wealth	Michael P Mcdermott President	4.08% $57.4M	459.2K shares	Q4 2019 Held for 5y 11m	$1.4B
Elk River Wealth Management, LLC RIA/Wealth	Christopher Cline Freimuth CEO	3.50% $21.8M	174.6K shares	Q1 2022 Held for 3y 8m	$623.9M
A Addison Advisors LLC Institution	-	3.35% $14.4M	115.4K shares	Q1 2023 Held for 2y 8m	$430.7M

Hedge Fund Spotlight

Discover hedge funds investing in VLUE

GABLES CAPITAL MANAGEMENT INC.

Hedge Fund • Long/Short

Portfolio ManagerJudith Cohen Neiwirth

Portfolio Value: $233.4M
Positions: 457
Last Reported: Q3 2025

Sector Allocation

Position in iShares MSCI USA Value Factor

Market Value: $14.4K
Shares Held: 115.0
Portfolio Weight: 0.01%
Owned Since: 2023-Q3

Top Holding	Sector	Market Value	Weight
1 Nvidia NVDA	Semiconductors Technology	$20.6M	8.84%
2 Apple AAPL	Consumer Electronics Technology	$14.7M	6.30%
3 Palantir Technologies Inc. PLTR	Software - Infrastructure Technology	$13.4M	5.74%