Who owns iShares S&P Mid-Cap 400 Value ETF (USMV)
Which tracked institutional funds hold USMV, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See USMV company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-20). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
219 tracked funds added or opened USMV while 167 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
USMV’s largest tracked holder by dollar value, FMR LLC, sizes it at 0.1% of its own reported 13F book, while the median holder sizes it at 0.2% of theirs — a 0.1pp gap the other way — the median holder sizes USMV more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in USMV divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 1337 tracked filers holding USMV, 528 increased or opened the position and 699 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in USMV between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 39
- NewEdge Advisors, LLC$68M
- Aspen Private Advisors, LLC$17M
- Diversify Advisory Services, LLC$11M
- Leicht Financial Planning & Wealth Management, Inc.$8M
- HAMILTON CAPITAL PARTNERS, LLC$8M
- Prime Buchholz LLC$7M
Full exits 63
- Cambridge Investment Research Advisors, Inc.$124M
- CWM, LLC$68M
- HighTower Advisors, LLC$65M
- Janney Montgomery Scott LLC$57M
- Caisse de depot et placement du Quebec$41M
- PARK AVENUE SECURITIES LLC$25M
Largest adds
- LPL Financial LLC$185M
- MORGAN STANLEY$171M
- RAYMOND JAMES FINANCIAL INC$91M
- Qube Research & Technologies Ltd$65M
- FMR LLC$60M
- WEALTH ENHANCEMENT ADVISORY SERVICES, LLC$52M
Largest trims
- TWO SIGMA INVESTMENTS, LP$79M
- RITHOLTZ WEALTH MANAGEMENT$74M
- AMERIPRISE FINANCIAL INC$45M
- Horizon Investments, LLC$30M
- RWA WEALTH PARTNERS, LLC$22M
- ALLIANCEBERNSTEIN L.P.$21M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| FMR LLC added | 15,350,328 | $1.5B | 10.7% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 14,642,755 | $1.4B | 10.2% | 2026-Q2 |
| MORGAN STANLEY added | 14,034,510 | $1.4B | 9.8% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 12,345,824 | $1.2B | 8.6% | 2026-Q2 |
| LPL Financial LLC added | 7,953,963 | $767M | 5.5% | 2026-Q2 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC added | 4,702,673 | $459M | 3.3% | 2026-Q2 |
| Millburn Ridgefield LLC /DE/ added | 4,455,291 | $430M | 3.1% | 2026-Q2 |
| Catalyst Capital Advisors LLC added | 4,455,291 | $430M | 3.1% | 2026-Q2 |
| PNC Financial Services Group, Inc. trimmed | 4,247,471 | $410M | 3.0% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 3,763,692 | $363M | 2.6% | 2026-Q2 |
| BlackRock, Inc. added | 3,457,587 | $334M | 2.4% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 3,396,004 | $328M | 2.4% | 2026-Q2 |
| UBS Group AG trimmed | 3,119,340 | $301M | 2.2% | 2026-Q2 |
| Cetera Investment Advisers added | 2,168,165 | $209M | 1.5% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 2,029,125 | $195M | 1.4% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 1,884,255 | $182M | 1.3% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 1,816,713 | $175M | 1.3% | 2026-Q2 |
| SEI INVESTMENTS CO added | 1,582,221 | $153M | 1.1% | 2026-Q2 |
| ROYAL BANK OF CANADA trimmed | 1,556,142 | $150M | 1.1% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO trimmed | 1,449,879 | $140M | 1.0% | 2026-Q2 |
| Beacon Pointe Advisors, LLC added | 1,419,542 | $137M | 1.0% | 2026-Q2 |
| Cerity Partners LLC added | 1,373,229 | $132M | 1.0% | 2026-Q2 |
| ASSETMARK, INC added | 1,346,488 | $130M | 0.9% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 1,257,338 | $121M | 0.9% | 2026-Q2 |
| JOHNSON INVESTMENT COUNSEL INC trimmed | 1,209,687 | $117M | 0.8% | 2026-Q2 |
| Geneos Wealth Management Inc. added | 1,177,268 | $114M | 0.8% | 2026-Q2 |
| Focus Partners Wealth trimmed | 1,114,252 | $107M | 0.8% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV trimmed | 1,067,976 | $103M | 0.7% | 2026-Q2 |
| Horizon Investments, LLC trimmed | 943,459 | $91M | 0.7% | 2026-Q2 |
| Mariner, LLC trimmed | 928,271 | $90M | 0.6% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 908,696 | $88M | 0.6% | 2026-Q2 |
| Russell Investments Group, Ltd. trimmed | 851,515 | $82M | 0.6% | 2026-Q2 |
| SECURIAN ASSET MANAGEMENT, INC | 837,287 | $81M | 0.6% | 2026-Q2 |
| Brookstone Capital Management trimmed | 818,996 | $79M | 0.6% | 2026-Q2 |
| CAPTRUST FINANCIAL ADVISORS added | 725,620 | $70M | 0.5% | 2026-Q2 |
| Qube Research & Technologies Ltd added | 721,422 | $70M | 0.5% | 2026-Q2 |
| NewEdge Advisors, LLC added | 706,484 | $68M | 0.5% | 2026-Q2 |
| MAI Capital Management trimmed | 686,315 | $66M | 0.5% | 2026-Q2 |
| US BANCORP \DE\ trimmed | 673,975 | $65M | 0.5% | 2026-Q2 |
| Private Advisor Group, LLC added | 600,897 | $58M | 0.4% | 2026-Q2 |
| STIFEL FINANCIAL CORP trimmed | 595,110 | $57M | 0.4% | 2026-Q2 |
| Integrated Wealth Concepts LLC added | 586,705 | $57M | 0.4% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC trimmed | 558,307 | $54M | 0.4% | 2026-Q2 |
| MARSHALL WACE, LLP added | 497,800 | $48M | 0.3% | 2026-Q2 |
| Facet Wealth, Inc. added | 467,953 | $45M | 0.3% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC added | 440,532 | $42M | 0.3% | 2026-Q2 |
| High Probability Advisors, LLC added | 417,169 | $40M | 0.3% | 2026-Q2 |
| BARCLAYS PLC added | 411,404 | $40M | 0.3% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP trimmed | 387,700 | $37M | 0.3% | 2026-Q2 |
| GLENMEDE TRUST CO NA trimmed | 386,309 | $37M | 0.3% | 2026-Q2 |
| TRUIST FINANCIAL CORP added | 375,016 | $36M | 0.3% | 2026-Q2 |
| Symmetry Partners, LLC added | 357,531 | $34M | 0.2% | 2026-Q2 |
| Klingman & Associates, LLC trimmed | 354,842 | $34M | 0.2% | 2026-Q2 |
| ARS Wealth Advisors Group, LLC trimmed | 352,667 | $34M | 0.2% | 2026-Q2 |
| Lineweaver Wealth Advisors, LLC added | 330,997 | $32M | 0.2% | 2026-Q2 |
| Creative Planning added | 329,372 | $32M | 0.2% | 2026-Q2 |
| Kestra Advisory Services, LLC trimmed | 306,368 | $30M | 0.2% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 300,365 | $29M | 0.2% | 2026-Q2 |
| GDS Wealth Management added | 289,589 | $28M | 0.2% | 2026-Q2 |
| KEYBANK NATIONAL ASSOCIATION/OH trimmed | 285,277 | $28M | 0.2% | 2026-Q2 |
| Rehmann Capital Advisory Group trimmed | 257,439 | $25M | 0.2% | 2026-Q2 |
| Meridian Wealth Advisors, LLC added | 255,013 | $25M | 0.2% | 2026-Q2 |
| Cornerstone Wealth Management, LLC trimmed | 253,692 | $24M | 0.2% | 2026-Q2 |
| Lido Advisors, LLC added | 251,132 | $24M | 0.2% | 2026-Q2 |
| Adaptive Financial Consulting, LLC added | 241,162 | $23M | 0.2% | 2026-Q2 |
| Cassia Capital Partners, LLC trimmed | 237,046 | $23M | 0.2% | 2026-Q2 |
| Well Done, LLC added | 230,337 | $22M | 0.2% | 2026-Q2 |
| Pacific Center for Financial Services trimmed | 228,692 | $22M | 0.2% | 2026-Q2 |
| CITIZENS FINANCIAL GROUP INC/RI trimmed | 228,133 | $22M | 0.2% | 2026-Q2 |
| SAGESPRING WEALTH PARTNERS, LLC trimmed | 224,652 | $22M | 0.2% | 2026-Q2 |
| &PARTNERS added | 224,607 | $22M | 0.2% | 2026-Q2 |
| OneDigital Investment Advisors LLC trimmed | 223,733 | $22M | 0.2% | 2026-Q2 |
| BARON SILVER STEVENS FINANCIAL ADVISORS, LLC added | 221,195 | $21M | 0.2% | 2026-Q2 |
| CIBC WORLD MARKET INC. added | 219,776 | $21M | 0.2% | 2026-Q2 |
| Journey Advisory Group, LLC added | 219,463 | $21M | 0.2% | 2026-Q2 |
| Sanctuary Advisors, LLC trimmed | 215,785 | $21M | 0.2% | 2026-Q2 |
| ANDERSON HOAGLAND & CO added | 213,114 | $21M | 0.1% | 2026-Q2 |
| Dynasty Wealth Management, LLC trimmed | 199,658 | $19M | 0.1% | 2026-Q2 |
| CHOREO, LLC trimmed | 198,781 | $19M | 0.1% | 2026-Q2 |
| Wealth Advisors of Iowa, LLC added | 197,413 | $19M | 0.1% | 2026-Q2 |
| Stratos Wealth Partners, LTD. added | 196,227 | $19M | 0.1% | 2026-Q2 |
| Rockefeller Capital Management L.P. trimmed | 195,770 | $19M | 0.1% | 2026-Q2 |
| BARRETT & COMPANY, INC. added | 191,781 | $18M | 0.1% | 2026-Q2 |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC trimmed | 189,103 | $18M | 0.1% | 2026-Q2 |
| Merit Financial Group, LLC added | 183,664 | $18M | 0.1% | 2026-Q2 |
| Darrow Company, Inc. added | 180,315 | $17M | 0.1% | 2026-Q2 |
| Aspen Private Advisors, LLC new | 176,422 | $17M | 0.1% | 2026-Q2 |
| Equitable Holdings, Inc. trimmed | 175,596 | $17M | 0.1% | 2026-Q2 |
| WALLED LAKE PLANNING & WEALTH MANAGEMENT, LLC added | 174,990 | $17M | 0.1% | 2026-Q2 |
| CITIGROUP INC trimmed | 174,126 | $17M | 0.1% | 2026-Q2 |
| Summit Wealth Partners, LLC trimmed | 173,650 | $17M | 0.1% | 2026-Q2 |
| Asset Advisors Investment Management, LLC trimmed | 171,637 | $17M | 0.1% | 2026-Q2 |
| Leelyn Smith, LLC added | 165,959 | $16M | 0.1% | 2026-Q2 |
| Armbruster Capital Management, Inc. trimmed | 165,518 | $16M | 0.1% | 2026-Q2 |
| MV CAPITAL MANAGEMENT, INC. | 157,477 | $15M | 0.1% | 2026-Q2 |
| Trinity Wealth Management, LLC trimmed | 154,469 | $15M | 0.1% | 2026-Q2 |
| Beacon Bank & Trust added | 153,496 | $15M | 0.1% | 2026-Q2 |
| FIFTH THIRD BANCORP trimmed | 153,316 | $15M | 0.1% | 2026-Q2 |
| FOUNDERS FINANCIAL SECURITIES LLC added | 152,510 | $15M | 0.1% | 2026-Q2 |
| Sequoia Financial Advisors, LLC trimmed | 150,253 | $14M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.