Fund · iShares Russell 2000 Value ETF · measured from SEC filings
IWN holdings
IWN reports 1,425 holdings and behaves like 519.9 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-06-30. The fact sheet publishes the first number; this page computes the second, and traces it across 28 quarters of filings.
Measured concentration
as of 2026-06-30Read this figure with the following in mind
5.0% of net assets is securities-lending cash collateral, excluded from the figure; counted as filed the fund would read 223.8
The figure below is what the filing says, published unchanged. What it may not do is sit beside a plain long-only fund and be read as the same quantity. How comparability is decided.
Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 100% at a quoted market price (level 1), 16 issuer countries.
What stands out
as of 2026-06-30IWN's largest investment is Viasat Inc at 0.74% of net assets. Cytokinetics Inc and UMB Financial Corp follow; the three together are 2.01%. Ten companies are 5.53% of the fund; the other 1,415 share the rest. Among the 721 equity funds measured here, IWN behaves like 519.9 holdings against a median of 42.4 — 12.3 times the median. Across 28 quarterly filings IWN has held roughly steady since 2019-09-30 (566.7 then, 519.9 now). Between the 2026-03-31 and 2026-06-30 filings 288 positions were added and 273 dropped; 26.7% of the weight moved.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable equity funds on this site. Nothing here is a view on the fund.
Every filing since 2019
28Between 2019-09-30 and 2026-06-30, IWN went from behaving like 566.7 equally weighted positions to 519.9 — 8% fewer, while its top ten went from 4.8% to 5.53% of net assets. Read across the funds on the concentration-over-time table.
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-06-30 | 1,425 | 519.9 | 5.53% | 0.74% |
| 2026-03-31 | 1,410 | 471.3 | 6.18% | 1.1% |
| 2025-12-31 | 1,423 | 496.7 | 5.91% | 1.06% |
| 2025-09-30 | 1,430 | 511.9 | 5.52% | 0.76% |
| 2025-06-30 | 1,531 | 538.5 | 5.15% | 0.7% |
| 2025-03-31 | 1,429 | 507 | 5.43% | 0.76% |
| 2024-12-31 | 1,439 | 551.8 | 4.72% | 0.58% |
| 2024-09-30 | 1,442 | 552.6 | 5.1% | 0.56% |
Earlier filings (20 more, back to 2019-09-30)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-06-30 | 1,403 | 524.1 | 5.26% | 0.83% |
| 2024-03-31 | 1,422 | 551.7 | 4.97% | 0.56% |
| 2023-12-31 | 1,426 | 578.8 | 4.63% | 0.53% |
| 2023-09-30 | 1,448 | 561.8 | 5.33% | 0.85% |
| 2023-06-30 | 1,465 | 605.6 | 4.46% | 0.53% |
| 2023-03-31 | 1,368 | 561.7 | 4.93% | 0.55% |
| 2022-12-31 | 1,386 | 571.3 | 4.8% | 0.55% |
| 2022-09-30 | 1,399 | 599.3 | 4.7% | 0.56% |
| 2022-06-30 | 1,413 | 611.8 | 4.47% | 0.52% |
| 2022-03-31 | 1,437 | 536.8 | 6.31% | 0.93% |
| 2021-12-31 | 1,452 | 588.8 | 5.37% | 0.94% |
| 2021-09-30 | 1,432 | 595.6 | 5.23% | 1.37% |
| 2021-06-30 | 1,392 | 588.6 | 5.15% | 1.56% |
| 2021-03-31 | 1,512 | 576.1 | 5.63% | 0.82% |
| 2020-12-31 | 1,491 | 591.5 | 4.95% | 0.78% |
| 2020-09-30 | 1,467 | 586.2 | 5.01% | 0.65% |
| 2020-06-30 | 1,445 | 595.2 | 4.81% | 0.93% |
| 2020-03-31 | 1,395 | 476.4 | 6.48% | 0.84% |
| 2019-12-31 | 1,406 | 560.2 | 4.85% | 0.59% |
| 2019-09-30 | 1,400 | 566.7 | 4.8% | 0.52% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
As filed, collateral included
5.05% collateralIWN's filing lists 1,426 positions including 5.05% of net assets in securities-lending cash collateral. Counted as filed the fund reads 223.8 effective holdings with a top ten of 10.13%; on its own investments — the figure above — it reads 519.9 with a top ten of 5.53%. The collateral is matched by a liability and is not a holding the fund chose; since 2026-09-18 every figure on this site sets it aside (methodology). Both numbers are in the data.
Largest positions, as filed
as of 2026-06-30The 15 largest of 1,425 positions in IWN's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: listed with the point-in-time files, available on request.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | Viasat, Inc. | 0.74% | 0.7% |
| 2 | Cytokinetics, Inc. | 0.65% | 1.4% |
| 3 | UMB Financial Corp. | 0.63% | 2.0% |
| 4 | CareTrust REIT, Inc. | 0.59% | 2.6% |
| 5 | Terex Corp. | 0.54% | 3.1% |
| 6 | Old National Bancorp | 0.52% | 3.7% |
| 7 | JBT Marel Corp. | 0.50% | 4.2% |
| 8 | Lumen Technologies, Inc. | 0.48% | 4.6% |
| 9 | Terreno Realty Corp. | 0.45% | 5.1% |
| 10 | Taylor Morrison Home Corp. | 0.44% | 5.5% |
| 11 | Vishay Intertechnology, Inc. | 0.43% | 6.0% |
| 12 | Essential Properties Realty Trust, Inc. | 0.43% | 6.4% |
| 13 | Macerich Co. (The) | 0.43% | 6.8% |
| 14 | Southwest Gas Holdings, Inc. | 0.42% | 7.2% |
| 15 | Garrett Motion, Inc. | 0.41% | 7.6% |
By country of issuer
as of 2026-06-30Share of IWN's own investments by the issuer country the filer reported (incorporation, not revenue). Each country links to every fund that holds it.
| Country | Share |
|---|---|
| United States | 92.63% |
| Bermuda° | 2.42% |
| Canada | 0.95% |
| Marshall Islands° | 0.70% |
| Switzerland | 0.63% |
| Cayman Islands° | 0.63% |
| United Kingdom | 0.48% |
| Ireland° | 0.40% |
Returns the fund reported
2019-07 – 2026-06Monthly total returns from Item B.5 of IWN's own filings, 84 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference 0.09 percentage points over 84 months, which is roughly the distributions. Every month with the filing it came from: IWN.json · all funds.
Who borrows IWN's shares
2026-06-30The fund lends its holdings, and Item B.4.a of the filing names every firm holding them. At 2026-06-30, $716m was out to 31 borrowers, 4.93% of net assets. The largest, JP MORGAN SECURITIES LLC, held 21.9% of it.
| Borrower | On loan | Share of the loan |
|---|---|---|
| JP MORGAN SECURITIES LLC | $157m | 21.9% |
| GOLDMAN SACHS INTERNATIONAL | $97m | 13.6% |
| BNP PARIBAS PRIME BROKERAGE INTERNATIONAL LIMITED | $78m | 11.0% |
| MORGAN STANLEY & CO LLC | $65m | 9.1% |
| CITIGROUP GLOBAL MARKETS INC. | $58m | 8.2% |
Cash collateral reported against the loan: 5.05% of net assets, 102.4% of the amount lent. That is a floor on the collateral, not the whole of it — collateral the fund does not hold as a position is not in this filing, so a figure under 100% is not evidence of under-collateralisation. How that figure behaves across all funds. Every quarter IWN has filed, with each borrower: IWN.json · all funds.
Since the previous filing
2026-03-31 → 2026-06-301,405 positions became 1,420: 288 added (11.9% of the fund at the later date), 273 dropped (17.2% at the earlier date). Half the sum of all weight changes, a turnover proxy: 26.7%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of IWN compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-03-31 | 2026-06-30 | Largest decreases | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|
| Lumen Technologies, Inc. | 0.05% | 0.48% | Noble Corp. plc | 0.43% | 0.02% |
| Viasat, Inc. | 0.39% | 0.74% | EnerSys | 0.42% | 0.04% |
| VSE Corp. | 0.05% | 0.39% | Vaxcyte, Inc. | 0.50% | 0.16% |
| Selective Insurance Group, Inc. | 0.04% | 0.39% | Warrior Met Coal, Inc. | 0.33% | 0.04% |
| Cabot Corp. | 0.02% | 0.31% | Liberty Energy, Inc. | 0.31% | 0.03% |
| Vishay Intertechnology, Inc. | 0.15% | 0.43% | Enpro, Inc. | 0.32% | 0.03% |
New: Life Time Group Holdings, Inc. (0.36%), GEO Group, Inc. (The) (0.24%), Cal-Maine Foods, Inc. (0.23%), Highwoods Properties, Inc. (0.22%), Integer Holdings Corp. (0.21%), Versigent plc (0.20%). Gone: EchoStar Corp. (1.10%), TTM Technologies, Inc. (0.69%), Coeur Mining, Inc. (0.66%), Hecla Mining Co. (0.62%), Praxis Precision Medicines, Inc. (0.53%), American Healthcare REIT, Inc. (0.38%).
Asset categories and pricing
as of 2026-06-3095.04% equity, 4.95% short-term investment as filed; 100.0% carried at a quoted market price (fair-value level 1). Categories and levels are the filer's; what a low level-1 share does and does not mean is in the measure's page.
Derivative exposure and counterparties
as of 2026-06-30A position count cannot describe a fund that uses derivatives, because a swap is filed at its unrealised gain, not its exposure. These are the notionals the fund itself reported, against net assets of $14.53B. Notional of an interest-rate or currency swap is not equity exposure.
1 option positions filed, 0 of them written. The book as filed:
| Type | Side | Strike | Expiry | Underlying |
|---|---|---|---|---|
| Call | Purchased | 10 | 2029-06-27 | as filed, not named |
Full detail for every fund that files derivatives: leverage.json (CC BY 4.0).
Neighbours by effective holdings, equity funds
10Every measured equity fund lined up by how many holdings it behaves like; these sit either side of IWN (519.9). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| EUSA iShares MSCI USA Equal Weighted ETF | 540 | 494.2 | 4.47% | 2026-05-31 |
| AVDE Avantis International Equity ETF | 3,302 | 496.8 | 7.08% | 2026-05-31 |
| RSP Invesco S&P 500 Equal Weight ETF | 505 | 496.9 | 2.55% | 2026-07-31 |
| SIZE iShares MSCI USA Size Factor ETF | 529 | 512 | 2.86% | 2026-07-31 |
| VTWO Vanguard Russell 2000 Index Fund | 1,954 | 513.7 | 7.78% | 2026-05-31 |
| TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund | 2,279 | 531.2 | 7.53% | 2026-07-31 |
| ISCF iShares International Small-Cap Equity Factor ETF | 1,180 | 557.1 | 5.69% | 2026-07-31 |
| EQAL Invesco Russell 1000 Equal Weight ETF | 988 | 566.4 | 6.53% | 2026-05-31 |
| IWC iShares Micro-Cap ETF | 1,382 | 572.6 | 5.46% | 2026-06-30 |
| VXF Vanguard Extended Market Index Fund | 3,371 | 582.2 | 7.55% | 2026-06-30 |
Essays that examine IWN
1-
Why 2,017 IWM Holdings Read as 33: Securities Lending in the Russell 2000 ETF
IWM, the iShares Russell 2000 ETF, files 2,017 holdings but our concentration measure read it as 33. The cause is a 17% cash-collateral position from securities lending, flagged in the filing itself; set it aside and the fund's own investments behave like about 840. Seventy-three funds on this site, including IJH, IJR, RSP, LQD and HYG, had the same problem. What we found, what we changed today, and what is still open.
Mentions are detected across the full text of every article, so an appearance may be a passing comparison rather than the subject. Nothing here is a recommendation to buy or sell — see the disclaimer.