Vault-13

ISHARES INC EWZ

MSCI BRAZIL ETF · ETP · CUSIP 464286400 · ISIN US4642864007

414 institutional holders +80 vs Q4 2025
147,452,029147.5m shares reported held*
$5.7bnreported value*
127 new 138 added 96 reduced 46 sold out net bought ≈ $996.2m (+26.0m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $38.37. Options: 61 managers hold calls ($8.4bn notional), 38 hold puts ($2.9bn).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 241Q4 22: 262Q1 23: 243Q2 23: 283Q3 23: 292Q4 23: 327Q1 24: 292Q2 24: 257Q3 24: 238Q4 24: 242Q1 25: 272Q2 25: 328Q3 25: 312Q4 25: 334Q1 26: 414414Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022241
Q4 2022262
Q1 2023243
Q2 2023283
Q3 2023292
Q4 2023327
Q1 2024292
Q2 2024257
Q3 2024238
Q4 2024242
Q1 2025272
Q2 2025328
Q3 2025312
Q4 2025334
Q1 2026414

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q2 24: 131 bought or addedQ2 24: 159 cut or sold outQ3 24: 88 bought or addedQ3 24: 140 cut or sold outQ3 24Q4 24: 117 bought or addedQ4 24: 125 cut or sold outQ1 25: 141 bought or addedQ1 25: 122 cut or sold outQ1 25Q2 25: 209 bought or addedQ2 25: 111 cut or sold outQ3 25: 147 bought or addedQ3 25: 148 cut or sold outQ3 25Q4 25: 172 bought or addedQ4 25: 137 cut or sold outQ1 26: 265 bought or addedQ1 26: 142 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024131159
Q3 202488140
Q4 2024117125
Q1 2025141122
Q2 2025209111
Q3 2025147148
Q4 2025172137
Q1 2026265142

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2.5bn$5bn$7.5bn$10bnQ2 25 calls: $3.3bnQ2 25 puts: $1.3bnQ2 25P/C 0.40Q3 25 calls: $5.5bnQ3 25 puts: $3.2bnQ3 25P/C 0.58Q4 25 calls: $5.3bnQ4 25 puts: $2.5bnQ4 25P/C 0.46Q1 26 calls: $8.4bnQ1 26 puts: $2.9bnQ1 26P/C 0.35
Numbers
QuarterCallsPutsP/C
Q2 2025$3.3bn$1.3bn0.40
Q3 2025$5.5bn$3.2bn0.58
Q4 2025$5.3bn$2.5bn0.46
Q1 2026$8.4bn$2.9bn0.35

Biggest buyers

MORGAN STANLEY Added +10,827,304+10.8m
BANK OF NOVA SCOTIA Added +5,455,028+5.5m
NWI MANAGEMENT LP New +3,720,000+3.7m
Allspring Global Investments Holdings, LLC Added +3,094,413+3.1m
Brevan Howard Capital Management LP New +3,070,495+3.1m
BESSEMER GROUP INC New +2,832,322+2.8m
PointState Capital LP New +2,422,975+2.4m
Provida Pension Fund Administrator Added +2,124,017+2.1m
SG Americas Securities, LLC Added +2,029,838+2.0m
Varma Mutual Pension Insurance Co New +1,800,550+1.8m

Biggest sellers

Optiver Holding B.V. Sold out -7,748,654-7.7m
Rokos Capital Management LLP Sold out -6,316,451-6.3m
CITADEL ADVISORS LLC Reduced -2,316,348-2.3m
UBS Group AG Reduced -2,257,348-2.3m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -2,045,581-2.0m
NAN FUNG TRINITY (HK) LTD Sold out -2,005,000-2.0m
BANK OF AMERICA CORP /DE/ Reduced -1,490,323-1.5m
MKP Capital Management, L.L.C. Reduced -1,213,900-1.2m
State of Tennessee, Department of Treasury Reduced -995,390-995.4k
OLD MISSION CAPITAL LLC Reduced -753,251-753.3k

Biggest calls

CITADEL ADVISORS LLC Added $1.8bn45.6m shares
Optiver Holding B.V. Added $869.6m22.7m shares
GOLDMAN SACHS GROUP INC Added $860.4m22.4m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $796.9m20.8m shares
UBS Group AG Added $722.9m18.8m shares
JANE STREET GROUP, LLC Added $502.9m13.1m shares
JPMORGAN CHASE & CO Added $306.0m8.3m shares
CITIGROUP INC Added $297.3m7.7m shares
BARCLAYS PLC Reduced $248.0m6.5m shares
Duquesne Family Office LLC Unchanged $162.3m4.2m shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $505.0m13.2m shares
GOLDMAN SACHS GROUP INC Reduced $357.9m9.3m shares
CITADEL ADVISORS LLC Reduced $266.4m6.9m shares
JANE STREET GROUP, LLC Added $251.2m6.5m shares
CAPSTONE INVESTMENT ADVISORS, LLC Added $202.9m5.3m shares
BlackBarn Capital Partners LP New $201.5m5.2m shares
BARCLAYS PLC Added $173.1m4.5m shares
UBS Group AG Reduced $169.7m4.4m shares
CITIGROUP INC Added $131.2m3.4m shares
BNP PARIBAS FINANCIAL MARKETS Added $125.4m32.7k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 20,629,64220.6m $792.0m $792.0m 0.05% Added +10.8m +10,827,304
2 UBS Group AG 0.06% of their portfolio ZURICH, V8 8,301,5678.3m $318.7m $318.7m 0.06% Reduced -2.3m -2,257,348
3 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 6,445,4186.4m $247.4m $247.4m 0.03% Added +36.0k +36,016
4 State of Tennessee, Department of Treasury 0.77% of their portfolio NASHVILLE, TN 5,932,7135.9m $227.8m $227.8m 0.77% Reduced -995.4k -995,390
5 BANK OF NOVA SCOTIA 0.37% of their portfolio TORONTO, A6 5,507,0285.5m $211.4m $211.4m 0.37% Added +5.5m +5,455,028
6 BNP PARIBAS FINANCIAL MARKETS 0.11% of their portfolio PARIS, I0 4,494,7214.5m $172.6m $172.6m 0.11% Added +447.2k +447,212
7 NWI MANAGEMENT LP 4.37% of their portfolio NEW YORK, NY 3,720,0003.7m $142.8m $142.8m 4.37% New
8 Duquesne Family Office LLC 4.49% of their portfolio New York, NY 3,436,1703.4m $131.9m $131.9m 4.49% Reduced -116.4k -116,405
9 Phoenix Financial Ltd. 1.18% of their portfolio Givatayim, L3 3,237,0003.2m $124.3m $124.3m 1.18% Unchanged
10 Allspring Global Investments Holdings, LLC 0.20% of their portfolio CHARLOTTE, NC 3,119,5613.1m $119.8m $119.8m 0.20% Added +3.1m +3,094,413
11 Brevan Howard Capital Management LP 1.18% of their portfolio ST. HELIER, Y9 3,070,4953.1m $117.9m $117.9m 1.18% New
12 BESSEMER GROUP INC 0.17% of their portfolio WOODBRIDGE, NJ 2,832,3222.8m $108.7m $108.7m 0.17% New
13 FIL Ltd 0.08% of their portfolio HAMILTON, D0 2,519,4992.5m $96.7m $96.7m 0.08% Added +447.1k +447,089
14 Jain Global LLC 1.21% of their portfolio NEW YORK, NY 2,473,2872.5m $94.9m $94.9m 1.21% Added +1.3m +1,315,767
15 PointState Capital LP 2.16% of their portfolio New York, NY 2,422,9752.4m $93.0m $93.0m 2.16% New
16 Provida Pension Fund Administrator 1.54% of their portfolio LAS CONDES, SANTIAGO, F3 2,387,1352.4m $91.6m $91.6m 1.54% Added +2.1m +2,124,017
17 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.62% of their portfolio Madrid, U3 2,347,6002.3m $89.0m $89.0m 0.62% Added +129.4k +129,396
18 SG Americas Securities, LLC 0.10% of their portfolio NEW YORK, NY 2,344,2502.3m $90.0m $90.0m 0.10% Added +2.0m +2,029,838
19 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,829,8091.8m $70.2m $70.2m 0.01% Reduced -1.5m -1,490,323
20 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,822,9081.8m $70.0m $70.0m 0.00% Added +1.1m +1,105,397
21 Varma Mutual Pension Insurance Co 0.41% of their portfolio Varma, H9 1,800,5501.8m $69.1m $69.1m 0.41% New
22 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.09% of their portfolio BALA CYNWYD, PA 1,741,5991.7m $66.9m $66.9m 0.09% Reduced -2.0m -2,045,581
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,698,6731.7m $62.5m $62.5m 0.00% Added +447.7k +447,680
24 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,636,4211.6m $62.8m $62.8m 0.01% Added +316.2k +316,188
25 Squarepoint Ops LLC 0.13% of their portfolio NEW YORK, NY 1,627,7821.6m $62.5m $62.5m 0.13% Added +611.2k +611,153
26 Rafferty Asset Management, LLC 0.25% of their portfolio New York, NY 1,625,3041.6m $62.4m $62.4m 0.25% Added +336.0k +335,975
27 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 1,526,5001.5m $58.6m $58.6m 0.02% Added +19.8k +19,767
28 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 1,233,1521.2m $47.3m $47.3m 0.01% Reduced -284.9k -284,870
29 OLD MISSION CAPITAL LLC 1.07% of their portfolio CHICAGO, IL 1,173,4241.2m $45.0m $45.0m 1.07% Reduced -753.3k -753,251
30 BARCLAYS PLC 0.02% of their portfolio LONDON, X0 1,162,8581.2m $44.6m $44.6m 0.02% Added +258.1k +258,117
31 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,156,7931.2m $44.4m $44.4m 0.01% Added +689.0k +688,964
32 Korea Investment CORP 0.09% of their portfolio SEOUL, M5 1,131,6741.1m $43.4m $43.4m 0.09% Unchanged
33 CAXTON ASSOCIATES LLP 1.01% of their portfolio LONDON, X0 1,131,1111.1m $43.4m $43.4m 1.01% Added +213.5k +213,497
34 Bank Julius Baer & Co. Ltd, Zurich 0.13% of their portfolio ZURICH, V8 1,115,3991.1m $42.8m $42.8m 0.13% Added +73.1k +73,065
35 Temasek Holdings (Private) Ltd 0.14% of their portfolio SINGAPORE, U0 1,076,8151.1m $41.3m $41.3m 0.14% New
36 MKP Capital Management, L.L.C. 1.35% of their portfolio New York, NY 1,073,0001.1m $41.2m $41.2m 1.35% Reduced -1.2m -1,213,900
37 Itau Unibanco Holding S.A. 0.96% of their portfolio SAO PAULO, D5 1,042,3091.0m $40.0m $40.0m 0.96% New
38 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 989,300989.3k $38.0m $38.0m 0.03% New
39 HighTower Advisors, LLC 0.04% of their portfolio CHICAGO, IL 968,043968.0k $37.2m $37.2m 0.04% Added +872.9k +872,879
40 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 946,679946.7k $36.3m $36.3m 0.07% Added +882.4k +882,417
41 Absolute Gestao de Investimentos Ltda. 4.12% of their portfolio SAO PAULO, D5 939,581939.6k $36.1m $36.1m 4.12% Added +822.4k +822,394
42 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 910,063910.1k $34.9m $34.9m 0.02% Reduced -615.7k -615,694
43 Randolph Co Inc 3.19% of their portfolio Cincinnati, OH 869,770869.8k $33.4m $33.4m 3.19% New
44 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 834,408834.4k $30.3m $30.3m 0.01% Added +231.9k +231,930
45 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 826,630826.6k $31.7m $31.7m 0.01% Added +194.0k +193,974
46 Man Group plc 0.06% of their portfolio LONDON, X0 811,450811.5k $31.2m $31.2m 0.06% Reduced -738.9k -738,850
47 Banco BTG Pactual S.A. 5.62% of their portfolio RIO DE JANEIRO, D5 751,073751.1k $28.8m $28.8m 5.62% Added +590.9k +590,864
48 ARMSTRONG ADVISORY GROUP, INC 1.89% of their portfolio NEEDHAM, MA 732,490732.5k $28.1m $28.1m 1.89% Reduced -544.1k -544,109
49 HWG Holdings LP 6.64% of their portfolio HOUSTON, TX 655,349655.3k $25.2m $25.2m 6.64% New
50 Millburn Ridgefield LLC /DE/ 0.54% of their portfolio New York, NY 651,868651.9k $25.0m $25.0m 0.54% Reduced -8.1k -8,117
51 Catalyst Capital Advisors LLC 0.47% of their portfolio San Juan, PR 651,868651.9k $25.0m $25.0m 0.47% Reduced -8.1k -8,117
52 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 594,260594.3k $22.8m $22.8m 0.02% Added +271.8k +271,818
53 GROUP ONE TRADING LLC 0.73% of their portfolio CHICAGO, IL 572,376572.4k $22.0m $22.0m 0.73% Added +269.3k +269,261
54 Verition Fund Management LLC 0.21% of their portfolio GREENWICH, CT 566,450566.5k $21.7m $21.7m 0.21% Added +552.4k +552,410
55 Mount Lucas Management LP 7.76% of their portfolio Newtown, PA 547,564547.6k $21.0m $21.0m 7.76% Added +498.0k +497,959
56 Parallax Volatility Advisers, L.P. 0.90% of their portfolio San Francisco, CA 532,801532.8k $20.5m $20.5m 0.90% Added +483.1k +483,125
57 ARP Global Capital Ltd 11.98% of their portfolio DUBAI, C0 529,848529.8k $20.3m $20.3m 11.98% New
58 Corecam Pte. Ltd. 8.53% of their portfolio SINGAPORE, U0 512,460512.5k $19.7m $19.7m 8.53% Added +316.4k +316,416
59 SPX Gestao de Recursos Ltda 1.58% of their portfolio RIO DE JANEIRO, D5 493,168493.2k $18.9m $18.9m 1.58% New
60 Graham Capital Management, L.P. 0.61% of their portfolio ROWAYTON, CT 467,477467.5k $17.9m $17.9m 0.61% Added +420.5k +420,477
61 Federation des caisses Desjardins du Quebec 0.06% of their portfolio LEVIS, A8 455,839455.8k $17.5m $17.5m 0.06% Added +263.5k +263,459
62 Cercano Management LLC 0.72% of their portfolio BELLEVUE, WA 434,521434.5k $16.7m $16.7m 0.72% Reduced -56.5k -56,459
63 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 433,570433.6k $16.6m $16.6m 0.01% Added +112.4k +112,362
64 NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio MONTREAL, A8 400,702400.7k $15.4m $15.4m 0.02% Added +342.9k +342,923
65 Pekin Hardy Strauss, Inc. 1.60% of their portfolio CHICAGO, IL 398,900398.9k $15.3m $15.3m 1.60% Added +7.0k +6,992
66 VPR Management LLC 6.04% of their portfolio HOUSTON, TX 393,400393.4k $15.1m $15.1m 6.04% Reduced -100.0k -100,000
67 Capital Markets Trading UK LLP 12.73% of their portfolio LONDON, X0 368,850368.9k $14.2m $14.2m 12.73% Added +188.3k +188,252
68 Black Swift Group, LLC 2.44% of their portfolio BOULDER, CO 363,270363.3k $13.9m $13.9m 2.44% Reduced -225 -225
69 Moran Wealth Management, LLC 0.42% of their portfolio NAPLES, FL 356,584356.6k $13.7m $13.7m 0.42% Added +38.9k +38,919
70 EVERGREEN CAPITAL MANAGEMENT LLC 0.29% of their portfolio Bellevue, WA 342,613342.6k $13.2m $13.2m 0.29% Added +10.4k +10,377
71 Hamilton Wealth, LLC 2.55% of their portfolio LOS ANGELES, CA 340,425340.4k $13.1m $13.1m 2.55% Added +40.4k +40,357
72 RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio NEW YORK, NY 335,500335.5k $12.9m $12.9m 0.02% Reduced -370.1k -370,100
73 Jordan Park Group LLC 0.78% of their portfolio SAN FRANCISCO, CA 327,849327.8k $14.6m $14.6m 0.78% New
74 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 320,000320.0k $11.8m $11.8m 0.01% New
75 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 312,495312.5k $12.0m $12.0m 0.02% Reduced -16.0k -15,963
76 Truxt Investmentos Ltda. 7.19% of their portfolio RIO DE JANEIRO, D5 291,554291.6k $11.2m $11.2m 7.19% First filing
77 Cairn Investment Group, Inc. 5.43% of their portfolio VANCOUVER, WA 284,790284.8k $10.9m $10.9m 5.43% Reduced -2.1k -2,070
78 Whitcomb & Hess, Inc. 2.51% of their portfolio ASHLAND, OH 280,458280.5k $10.8m $10.8m 2.51% Reduced -2.9k -2,896
79 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 277,970278.0k $10.7m $10.7m 0.00% New
80 Glenorchy Capital Ltd 5.52% of their portfolio BOOROLITE, C3 266,027266.0k $10.2m $10.2m 5.52% Added +4.4k +4,393
81 ALTFEST L J & CO INC 1.07% of their portfolio NEW YORK, NY 259,547259.5k $10.0m $10.0m 1.07% Added +111.1k +111,055
82 Karpus Management, Inc. 0.30% of their portfolio Pittsford, NY 253,399253.4k $9.7m $9.7m 0.30% Added +35.6k +35,639
83 SIG BROKERAGE, LP 2.57% of their portfolio BALA CYNWYD, PA 236,657236.7k $9.1m $9.1m 2.57% Added +47.7k +47,715
84 Massar Capital Management, LP 1.80% of their portfolio STAMFORD, CT 235,000235.0k $9.0m $9.0m 1.80% Reduced -300.0k -300,000
85 Banco Santander, S.A. 0.07% of their portfolio Madrid, U3 230,354230.4k $8.8m $8.8m 0.07% Reduced -115.8k -115,823
86 Corecam AG 7.70% of their portfolio ZURICH, V8 223,200223.2k $8.6m $8.6m 7.70% Added +136.6k +136,600
87 Kiker Wealth Management, LLC 3.88% of their portfolio JASPER, GA 211,575211.6k $8.1m $8.1m 3.88% New
88 Nilsine Partners, LLC 0.65% of their portfolio GREENWOOD VILLAGE, CO 209,060209.1k $8.3m $8.3m 0.65% New
89 STRS OHIO 0.03% of their portfolio COLUMBUS, OH 207,580207.6k $8.0m $8.0m 0.03% Reduced -31.6k -31,650
90 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 202,875202.9k $7.8m $7.8m 0.01% Reduced -2.3m -2,316,348
91 New Paradigm Capital Management, LLC 16.82% of their portfolio GREAT FALLS, VA 200,000200.0k $7.9m $7.9m 16.82% First filing
92 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 181,104181.1k $7.0m $7.0m 0.01% Added +143.0k +143,015
93 LMR Partners LLP 0.06% of their portfolio LONDON, X0 180,000180.0k $6.9m $6.9m 0.06% Added +103.1k +103,101
94 PING CAPITAL MANAGEMENT, INC. 2.64% of their portfolio NEW YORK, NY 177,800177.8k $6.8m $6.8m 2.64% Reduced -52.0k -52,000
95 Ted Buchan & Co 2.39% of their portfolio San Diego, CA 171,390171.4k $6.6m $6.6m 2.39% New
96 NewSquare Capital LLC 0.56% of their portfolio NEWTOWN SQUARE, PA 166,616166.6k $6.4m $6.4m 0.56% New
97 Trium Capital LLP 4.58% of their portfolio LONDON, X0 164,457164.5k $6.3m $6.3m 4.58% Not comparable
98 Walleye Trading LLC 0.13% of their portfolio NEW YORK, NY 162,566162.6k $6.2m $6.2m 0.13% Reduced -8.2k -8,200
99 New Vernon Capital Holdings II LLC 4.45% of their portfolio Morristown, NJ 157,309157.3k $6.0m $6.0m 4.45% Unchanged
100 Cypress Capital Group 0.64% of their portfolio Palm Beach, FL 147,197147.2k $5.7m $5.7m 0.64% Added +8.7k +8,710