ISHARES IBOXX HIGH YLD CORP

That concentration changes how the holder count should be read. HYG appears broadly distributed across 147 institutions, but more than half of the reported value sits with three firms. The quarter did not produce a uniform institutional view; it produced a reshuffling at the top, with Grimes taking the leading position as Ocean Park reduced exposure and PartnerRe held steady.

The next group leans modestly toward accumulation. Acasta Partners bought an estimated $7.8 million, nearly doubling its shares to 198,841. Worth Asset Management added roughly $3.4 million, Stairway Partners $2.3 million and Redhawk Wealth Advisors $1.2 million. KWMG also purchased about $1.1 million and now holds $25.2 million. These additions show that Grimes was not the only buyer, but their combined scale remains a fraction of its move.