Who owns iShares MSCI USA Value Factor ETF (VLUE)
Which tracked institutional funds hold VLUE, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See VLUE company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-02). 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
The tracked-fund tape on VLUE is one-sided between 2026-Q1 and 2026-Q2: 251 added or opened and 44 trimmed or exited — on balance accumulating.
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
VLUE’s largest tracked holder by dollar value, Mason Investment Advisory Services, Inc., sizes it at 34.0% of its own reported 13F book, while the median holder sizes it at 0.2% of theirs — a 33.8pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in VLUE 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 608 tracked filers holding VLUE, 295 increased or opened the position and 260 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 VLUE 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 35
- TWO SIGMA INVESTMENTS, LP$70M
- MARSHALL WACE, LLP$40M
- Nan Shan Life Insurance Co., Ltd.$26M
- AdvisorShares Investments LLC$22M
- Caisse de depot et placement du Quebec$22M
- BANK OF NOVA SCOTIA$20M
Full exits 25
- Provida Pension Fund Administrator$76M
- Janney Montgomery Scott LLC$64M
- CWM, LLC$41M
- MASON STREET ADVISORS, LLC$41M
- LIFE LINE WEALTH MANAGEMENT LLC$11M
- PARK AVENUE SECURITIES LLC$10M
Largest adds
- Mason Investment Advisory Services, Inc.$233M
- Matson Money. Inc.$108M
- MAINSTAY CAPITAL MANAGEMENT LLC /ADV$80M
- BANK OF AMERICA CORP /DE/$67M
- Marks Wealth, LLC$65M
- LPL Financial LLC$63M
Largest trims
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$2.6B
- Qube Research & Technologies Ltd$13M
- Bank of New York Mellon Corp$8M
- SYNTAX RESEARCH, INC.$7M
- Addison Advisors LLC$7M
- Stonehearth Capital Management, LLC$6M
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 |
|---|---|---|---|---|
| Mason Investment Advisory Services, Inc. trimmed | 4,471,056 | $893M | 14.5% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO trimmed | 3,302,880 | $660M | 10.7% | 2026-Q2 |
| Matson Money. Inc. trimmed | 2,285,925 | $457M | 7.4% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 1,481,507 | $296M | 4.8% | 2026-Q2 |
| BlackRock, Inc. trimmed | 1,344,791 | $269M | 4.4% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV trimmed | 1,127,613 | $225M | 3.7% | 2026-Q2 |
| Wharton Business Group, LLC trimmed | 1,066,732 | $213M | 3.5% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 1,033,896 | $207M | 3.4% | 2026-Q2 |
| LPL Financial LLC added | 981,271 | $196M | 3.2% | 2026-Q2 |
| MORGAN STANLEY trimmed | 924,975 | $185M | 3.0% | 2026-Q2 |
| FMR LLC added | 788,426 | $158M | 2.6% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 678,701 | $136M | 2.2% | 2026-Q2 |
| MAINSTAY CAPITAL MANAGEMENT LLC /ADV added | 588,750 | $118M | 1.9% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 586,569 | $117M | 1.9% | 2026-Q2 |
| PNC Financial Services Group, Inc. trimmed | 557,547 | $111M | 1.8% | 2026-Q2 |
| Marks Wealth, LLC added | 541,454 | $108M | 1.8% | 2026-Q2 |
| Kathmere Capital Management, LLC trimmed | 427,319 | $85M | 1.4% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP new | 347,900 | $70M | 1.1% | 2026-Q2 |
| PRUDENTIAL PLC added | 330,000 | $66M | 1.1% | 2026-Q2 |
| UBS Group AG trimmed | 328,620 | $66M | 1.1% | 2026-Q2 |
| Focus Partners Wealth trimmed | 319,562 | $64M | 1.0% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC trimmed | 301,994 | $60M | 1.0% | 2026-Q2 |
| M&T Bank Corp trimmed | 282,246 | $56M | 0.9% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 275,103 | $55M | 0.9% | 2026-Q2 |
| ROYAL BANK OF CANADA trimmed | 234,568 | $47M | 0.8% | 2026-Q2 |
| Mullooly Asset Management, Inc. trimmed | 231,953 | $46M | 0.8% | 2026-Q2 |
| One Capital Management, LLC | 220,580 | $31M | 0.5% | 2026-Q2 |
| STATE OF MICHIGAN RETIREMENT SYSTEM trimmed | 218,300 | $44M | 0.7% | 2026-Q2 |
| TUDOR INVESTMENT CORP ET AL added | 217,534 | $43M | 0.7% | 2026-Q2 |
| MARSHALL WACE, LLP added | 199,422 | $40M | 0.6% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 185,025 | $37M | 0.6% | 2026-Q2 |
| Meridian Wealth Partners, LLC trimmed | 170,213 | $34M | 0.6% | 2026-Q2 |
| Cetera Investment Advisers trimmed | 155,811 | $31M | 0.5% | 2026-Q2 |
| Insight Wealth Strategies, LLC trimmed | 151,486 | $30M | 0.5% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 150,258 | $30M | 0.5% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 147,285 | $29M | 0.5% | 2026-Q2 |
| Elk River Wealth Management LLC trimmed | 145,290 | $29M | 0.5% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 145,169 | $29M | 0.5% | 2026-Q2 |
| INTRUST BANK NA trimmed | 144,052 | $29M | 0.5% | 2026-Q2 |
| AlphaCore Capital LLC added | 141,532 | $28M | 0.5% | 2026-Q2 |
| Stonehearth Capital Management, LLC trimmed | 136,475 | $27M | 0.4% | 2026-Q2 |
| Lido Advisors, LLC added | 135,522 | $27M | 0.4% | 2026-Q2 |
| Nan Shan Life Insurance Co., Ltd. trimmed | 128,980 | $26M | 0.4% | 2026-Q2 |
| Foster Group, Inc. trimmed | 121,806 | $24M | 0.4% | 2026-Q2 |
| Erste Asset Management GmbH added | 120,600 | $24M | 0.4% | 2026-Q2 |
| Point72 Asset Management, L.P. added | 120,134 | $24M | 0.4% | 2026-Q2 |
| Integrated Wealth Concepts LLC added | 115,746 | $23M | 0.4% | 2026-Q2 |
| Avidian Wealth Enterprises, LLC added | 112,651 | $23M | 0.4% | 2026-Q2 |
| AdvisorShares Investments LLC new | 110,611 | $22M | 0.4% | 2026-Q2 |
| Caisse de depot et placement du Quebec trimmed | 110,469 | $22M | 0.4% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 108,424 | $22M | 0.4% | 2026-Q2 |
| BANK OF NOVA SCOTIA new | 98,500 | $20M | 0.3% | 2026-Q2 |
| Cresset Asset Management, LLC added | 93,366 | $19M | 0.3% | 2026-Q2 |
| SIGNATUREFD, LLC trimmed | 80,703 | $16M | 0.3% | 2026-Q2 |
| Merit Financial Group, LLC added | 80,653 | $16M | 0.3% | 2026-Q2 |
| Systelligence, LLC new | 78,932 | $16M | 0.3% | 2026-Q2 |
| EFG International AG trimmed | 74,816 | $15M | 0.2% | 2026-Q2 |
| TRB Wealth Management, LLC | 72,474 | $14M | 0.2% | 2026-Q2 |
| BASSO CAPITAL MANAGEMENT, L.P. new | 68,959 | $14M | 0.2% | 2026-Q2 |
| Focus Partners Advisor Solutions, LLC trimmed | 65,475 | $13M | 0.2% | 2026-Q2 |
| OneDigital Investment Advisors LLC added | 64,003 | $13M | 0.2% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 63,608 | $13M | 0.2% | 2026-Q2 |
| CFO4Life Group, LLC trimmed | 63,250 | $13M | 0.2% | 2026-Q2 |
| FIRST FINANCIAL BANK - TRUST DIVISION trimmed | 60,249 | $12M | 0.2% | 2026-Q2 |
| Cerity Partners LLC added | 58,080 | $12M | 0.2% | 2026-Q2 |
| Bleakley Financial Group, LLC trimmed | 57,879 | $12M | 0.2% | 2026-Q2 |
| Cerro Pacific Wealth Advisors LLC trimmed | 54,966 | $11M | 0.2% | 2026-Q2 |
| IFP Advisors, Inc trimmed | 50,619 | $10M | 0.2% | 2026-Q2 |
| Addison Advisors LLC trimmed | 46,219 | $9M | 0.1% | 2026-Q2 |
| Aptus Capital Advisors, LLC added | 45,892 | $9M | 0.1% | 2026-Q2 |
| Qube Research & Technologies Ltd trimmed | 45,604 | $9M | 0.1% | 2026-Q2 |
| Parallel Advisors, LLC added | 45,050 | $9M | 0.1% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC trimmed | 44,990 | $9M | 0.1% | 2026-Q2 |
| ANDERSON HOAGLAND & CO trimmed | 41,637 | $8M | 0.1% | 2026-Q2 |
| WADDELL & ASSOCIATES, LLC trimmed | 41,412 | $8M | 0.1% | 2026-Q2 |
| Interchange Capital Partners, LLC added | 39,396 | $8M | 0.1% | 2026-Q2 |
| EVERGREEN CAPITAL MANAGEMENT LLC added | 39,295 | $8M | 0.1% | 2026-Q2 |
| Well Done, LLC trimmed | 39,135 | $8M | 0.1% | 2026-Q2 |
| Baird Financial Group, Inc. added | 38,473 | $8M | 0.1% | 2026-Q2 |
| Geneos Wealth Management Inc. trimmed | 37,652 | $8M | 0.1% | 2026-Q2 |
| Mariner, LLC trimmed | 36,783 | $7M | 0.1% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 36,670 | $7M | 0.1% | 2026-Q2 |
| Tennessee Valley Asset Management Partners added | 35,936 | $7M | 0.1% | 2026-Q2 |
| LCW Services, LLC trimmed | 35,761 | $7M | 0.1% | 2026-Q2 |
| Foundations Investment Advisors, LLC added | 33,975 | $7M | 0.1% | 2026-Q2 |
| Tactive Advisors, LLC trimmed | 33,334 | $7M | 0.1% | 2026-Q2 |
| Ocean Park Asset Management, LLC new | 32,980 | $7M | 0.1% | 2026-Q2 |
| PEDDOCK CAPITAL ADVISORS, LLC added | 32,621 | $7M | 0.1% | 2026-Q2 |
| STEPHENS INC /AR/ | 32,316 | $6M | 0.1% | 2026-Q2 |
| Stratos Wealth Partners, LTD. added | 32,103 | $6M | 0.1% | 2026-Q2 |
| HSBC HOLDINGS PLC new | 31,985 | $6M | 0.1% | 2026-Q2 |
| Arrow Investment Advisors, LLC trimmed | 31,947 | $6M | 0.1% | 2026-Q2 |
| Equitable Holdings, Inc. added | 31,701 | $6M | 0.1% | 2026-Q2 |
| Focus Financial Network, Inc. added | 31,114 | $6M | 0.1% | 2026-Q2 |
| Corient Private Wealth LP added | 30,482 | $6M | 0.1% | 2026-Q2 |
| Creative Planning added | 29,690 | $6M | 0.1% | 2026-Q2 |
| SVB WEALTH LLC trimmed | 28,370 | $6M | 0.1% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT CO LTD trimmed | 28,055 | $6M | 0.1% | 2026-Q2 |
| Dorsey Wright & Associates trimmed | 27,885 | $6M | 0.1% | 2026-Q2 |
| Dorsey & Whitney Trust CO LLC | 27,175 | $5M | 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.