Vault-13

ISHARES TR EEM

MSCI EMG MKT ETF · ETP · CUSIP 464287234 · ISIN US4642872349

1,328 institutional holders +6 vs Q1 2023
450,745,269450.7m shares reported held*
$17.9bnreported value*
74 new 422 added 557 reduced 79 sold out net sold ≈ $2.6bn (-63.1m 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 ($6.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $39.66. Options: 44 managers hold calls ($7.7bn notional), 50 hold puts ($7.9bn).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 1,221Q4 22: 1,319Q1 23: 1,322Q2 23: 1,3281,328Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 20221,221
Q4 20221,319
Q1 20231,322
Q2 20231,328

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ4 22: 539 bought or addedQ4 22: 627 cut or sold outQ4 22Q1 23: 515 bought or addedQ1 23: 605 cut or sold outQ1 23Q2 23: 496 bought or addedQ2 23: 636 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022539627
Q1 2023515605
Q2 2023496636

Calls vs puts

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

CallsPuts
$0$2.5bn$5bn$7.5bn$10bnQ3 22 calls: $5.8bnQ3 22 puts: $6.3bnQ3 22P/C 1.09Q4 22 calls: $8.7bnQ4 22 puts: $5.6bnQ4 22P/C 0.64Q1 23 calls: $9.0bnQ1 23 puts: $6.1bnQ1 23P/C 0.68Q2 23 calls: $7.7bnQ2 23 puts: $7.9bnQ2 23P/C 1.02
Numbers
QuarterCallsPutsP/C
Q3 2022$5.8bn$6.3bn1.09
Q4 2022$8.7bn$5.6bn0.64
Q1 2023$9.0bn$6.1bn0.68
Q2 2023$7.7bn$7.9bn1.02

Biggest buyers

MORGAN STANLEY Added +5,347,831+5.3m
SG Americas Securities, LLC Added +5,279,369+5.3m
NATIONAL BANK OF CANADA /FI/ Added +4,864,769+4.9m
JPMORGAN CHASE & CO Added +4,613,434+4.6m
HSBC HOLDINGS PLC Added +3,585,817+3.6m
TORONTO DOMINION BANK Added +3,526,359+3.5m
BANK OF AMERICA CORP /DE/ Added +3,119,118+3.1m
MEITAV INVESTMENT HOUSE LTD Added +1,180,911+1.2m
Varma Mutual Pension Insurance Co New +831,517+831.5k
TOTAL INVESTMENT MANAGEMENT INC Added +703,635+703.6k

Biggest sellers

BlackRock Inc. Reduced -26,071,704-26.1m
OLD MISSION CAPITAL LLC Sold out -22,246,553-22.2m
BLUEFIN CAPITAL MANAGEMENT, LLC Sold out -7,268,418-7.3m
ENVESTNET ASSET MANAGEMENT INC Reduced -5,755,432-5.8m
GOLDMAN SACHS GROUP INC Reduced -5,493,095-5.5m
Hudson Bay Capital Management LP Reduced -4,250,000-4.2m
MILLENNIUM MANAGEMENT LLC Reduced -3,098,277-3.1m
Alberta Investment Management Corp Sold out -3,041,700-3.0m
BARCLAYS PLC Reduced -3,031,414-3.0m
CITIGROUP INC Reduced -2,697,854-2.7m

Biggest calls

GOLDMAN SACHS GROUP INC Added $1.7bn41.8m shares
BANK OF AMERICA CORP /DE/ Reduced $1.1bn28.3m shares
CITIGROUP INC Added $734.6m18.6m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $733.6m18.5m shares
CITADEL ADVISORS LLC Added $643.1m16.3m shares
UBS Group AG Added $478.9m12.1m shares
NOMURA HOLDINGS INC Reduced $400.9m10.1m shares
BNP PARIBAS FINANCIAL MARKETS Added $388.3m98.2k shares
MOORE CAPITAL MANAGEMENT, LP Added $386.2m9.8m shares
Cresset Asset Management, LLC New $325.2m8.2m shares

Biggest puts

CITADEL ADVISORS LLC Added $1.3bn31.7m shares
BANK OF AMERICA CORP /DE/ Added $1.1bn27.0m shares
Cresset Asset Management, LLC New $878.6m22.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $848.4m21.4m shares
CITIGROUP INC Added $760.7m19.2m shares
GOLDMAN SACHS GROUP INC Added $627.4m15.9m shares
Squarepoint Ops LLC New $364.6m9.2m shares
UBS Group AG Added $304.7m7.7m shares
ROYAL BANK OF CANADA Added $214.5m5.4m shares
HSBC HOLDINGS PLC Added $212.7m5.4m 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, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.17% of their portfolio NEW YORK, NY 44,505,73644.5m $1.8bn $1.8bn 0.17% Added +5.3m +5,347,831
2 BlackRock Inc. 0.05% of their portfolio New York, NY 42,090,29142.1m $1.7bn $1.7bn 0.05% Reduced -26.1m -26,071,704
3 BANK OF AMERICA CORP /DE/ 0.16% of their portfolio CHARLOTTE, NC 34,559,82334.6m $1.4bn $1.4bn 0.16% Added +3.1m +3,119,118
4 JPMORGAN CHASE & CO 0.09% of their portfolio NEW YORK, NY 18,908,82218.9m $748.0m $748.0m 0.09% Added +4.6m +4,613,434
5 Retirement Systems of Alabama 2.92% of their portfolio MONTGOMERY, AL 16,462,52616.5m $651.3m $651.3m 2.92% Reduced -252.0k -252,000
6 UBS Group AG 0.26% of their portfolio ZURICH, V8 15,045,73415.0m $595.2m $595.2m 0.26% Reduced -533.8k -533,798
7 WELLS FARGO & COMPANY/MN 0.15% of their portfolio SAN FRANCISCO, CA 13,420,72913.4m $530.9m $530.9m 0.15% Reduced -571.5k -571,464
8 NATIONAL BANK OF CANADA /FI/ 1.05% of their portfolio MONTREAL, A8 13,103,79113.1m $524.1m $524.1m 1.05% Added +4.9m +4,864,769
9 NORTHERN TRUST CORP 0.09% of their portfolio CHICAGO, IL 12,060,19912.1m $477.1m $477.1m 0.09% Reduced -88.2k -88,238
10 GOLDMAN SACHS GROUP INC 0.11% of their portfolio NEW YORK, NY 10,812,96610.8m $427.8m $427.8m 0.11% Reduced -5.5m -5,493,095
11 Board of Trustees of The Leland Stanford Junior University 39.57% of their portfolio STANFORD, CA 9,938,5079.9m $393.2m $393.2m 39.57% Unchanged
12 HSBC HOLDINGS PLC 0.41% of their portfolio LONDON, X0 9,745,1849.7m $384.8m $384.8m 0.41% Added +3.6m +3,585,817
13 Swiss Life Asset Management Ltd 5.06% of their portfolio Zurich, V8 8,648,2668.6m $342.1m $342.1m 5.06% Unchanged
14 BANK OF MONTREAL /CAN/ 0.11% of their portfolio TORONTO, A6 7,580,1997.6m $310.5m $310.5m 0.11% Added +497.2k +497,228
15 ROYAL BANK OF CANADA 0.07% of their portfolio TORONTO, A6 6,303,8636.3m $249.4m $249.4m 0.07% Reduced -372.5k -372,474
16 PNC Financial Services Group, Inc. 0.21% of their portfolio Pittsburgh, PA 6,113,4246.1m $241.8m $241.8m 0.21% Reduced -56.7k -56,664
17 SG Americas Securities, LLC 2.05% of their portfolio NEW YORK, NY 6,086,7946.1m $240.8m $240.8m 2.05% Added +5.3m +5,279,369
18 TORONTO DOMINION BANK 0.17% of their portfolio TORONTO, ONTARIO, A6 5,730,2625.7m $226.6m $226.6m 0.17% Added +3.5m +3,526,359
19 Bank of New York Mellon Corp 0.05% of their portfolio NEW YORK, NY 5,563,7045.6m $220.1m $220.1m 0.05% Reduced -389.6k -389,643
20 CITIGROUP INC 0.25% of their portfolio NEW YORK, NY 4,944,5004.9m $195.6m $195.6m 0.25% Reduced -2.7m -2,697,854
21 JANE STREET GROUP, LLC 0.24% of their portfolio NEW YORK, NY 4,484,1574.5m $177.4m $177.4m 0.24% Reduced -2.3m -2,336,908
22 US BANCORP \DE\ 0.26% of their portfolio MINNEAPOLIS, MN 4,028,9194.0m $159.4m $159.4m 0.26% Reduced -130.2k -130,248
23 BARCLAYS PLC 0.09% of their portfolio LONDON, X0 3,534,2713.5m $139.8m $139.8m 0.09% Reduced -3.0m -3,031,414
24 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.22% of their portfolio BALA CYNWYD, PA 3,404,0403.4m $134.7m $134.7m 0.22% Reduced -2.4m -2,425,550
25 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 3,331,0353.3m $131.8m $131.8m 0.06% Reduced -5.8m -5,755,432
26 Hudson Bay Capital Management LP 1.29% of their portfolio STAMFORD, CT 3,250,0003.2m $128.6m $128.6m 1.29% Reduced -4.2m -4,250,000
27 CREDIT SUISSE AG/ 0.12% of their portfolio ZURICH, V8 2,960,3243.0m $117.1m $117.1m 0.12% Reduced -71.7k -71,725
28 CITADEL ADVISORS LLC 0.11% of their portfolio MIAMI, FL 2,399,4802.4m $94.9m $94.9m 0.11% Reduced -951.4k -951,430
29 STATE OF WISCONSIN INVESTMENT BOARD 0.27% of their portfolio MADISON, WI 2,391,7002.4m $94.6m $94.6m 0.27% Added +46.9k +46,900
30 MEITAV INVESTMENT HOUSE LTD 0.75% of their portfolio BENE-BERAQ, L3 2,364,8762.4m $93.1m $93.1m 0.75% Added +1.2m +1,180,911
31 CIBC Private Wealth Group LLC 0.10% of their portfolio ATLANTA, GA 2,342,0782.3m $92.7m $92.7m 0.10% Reduced -885.9k -885,856
32 GREENLEAF TRUST 0.97% of their portfolio KALAMAZOO, MI 2,314,6772.3m $91.6m $91.6m 0.97% Reduced -97.2k -97,195
33 DRW Securities, LLC 7.04% of their portfolio CHICAGO, IL 2,300,2252.3m $91.0m $91.0m 7.04% Reduced -605.4k -605,399
34 Cassaday & Co Wealth Management LLC 3.56% of their portfolio MCLEAN, VA 2,273,4582.3m $89.9m $89.9m 3.56% Reduced -23.0k -23,049
35 LPL Financial LLC 0.06% of their portfolio FORT MILL, SC 2,200,2452.2m $87.0m $87.0m 0.06% Added +51.4k +51,369
36 DOW CHEMICAL CO /DE/ 10.67% of their portfolio MIDLAND, MI 2,069,8362.1m $81.9m $81.9m 10.67% Reduced -1.1m -1,100,000
37 BNP PARIBAS FINANCIAL MARKETS 0.16% of their portfolio PARIS, I0 1,998,2772.0m $79.1m $79.1m 0.16% Reduced -1.0m -1,023,548
38 Hirtle & Co., LLC 3.64% of their portfolio WEST CONSHOHOCKEN, PA 1,926,7661.9m $76.2m $76.2m 3.64% Reduced -46.0k -45,960
39 REGIONS FINANCIAL CORP 0.62% of their portfolio BIRMINGHAM, AL 1,810,4471.8m $71.6m $71.6m 0.62% Added +13.7k +13,745
40 HALBERT HARGROVE GLOBAL ADVISORS, LLC 4.69% of their portfolio LONG BEACH, CA 1,615,7431.6m $63.9m $63.9m 4.69% Reduced -5.3k -5,338
41 FIFTH THIRD BANCORP 0.27% of their portfolio CINCINNATI, OH 1,548,1511.5m $61.2m $61.2m 0.27% Reduced -165.6k -165,567
42 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio Toronto, A6 1,471,6271.5m $58.2m $58.2m 0.03% Added +7.3k +7,339
43 Raymond James Financial Services Advisors, Inc. 0.10% of their portfolio ST. PETERSBURG, FL 1,421,9851.4m $56.3m $56.3m 0.10% Reduced -39.4k -39,411
44 Itau Unibanco Holding S.A. 2.60% of their portfolio SAO PAULO, D5 1,403,8371.4m $55.5m $55.5m 2.60% Added +688.7k +688,725
45 TOTAL INVESTMENT MANAGEMENT INC 6.85% of their portfolio SCOTTSDALE, AZ 1,334,3141.3m $52.8m $52.8m 6.85% Added +703.6k +703,635
46 J.P. Morgan Private Wealth Advisors LLC 0.27% of their portfolio SAN FRANCISCO, CA 1,323,3331.3m $52.4m $52.4m 0.27% Reduced -421.3k -421,252
47 KEYBANK NATIONAL ASSOCIATION/OH 0.24% of their portfolio BROOKLYN, OH 1,316,7371.3m $52.1m $52.1m 0.24% Reduced -40.1k -40,133
48 FMR LLC 0.00% of their portfolio BOSTON, MA 1,312,9751.3m $51.9m $51.9m 0.00% Reduced -1.4m -1,393,917
49 Vontobel Holding Ltd. 0.44% of their portfolio ZURICH, V8 1,277,2851.3m $50.5m $50.5m 0.44% Reduced -24.0k -23,960
50 M&T Bank Corp 0.18% of their portfolio BUFFALO, NY 1,230,3371.2m $48.7m $48.7m 0.18% Reduced -64.5k -64,486
51 FACTORY MUTUAL INSURANCE CO 0.70% of their portfolio WALTHAM, MA 1,198,4001.2m $47.4m $47.4m 0.70% Unchanged
52 CONNABLE OFFICE INC 6.43% of their portfolio KALAMAZOO, MI 1,184,2201.2m $46.8m $46.8m 6.43% Added +11.1k +11,076
53 Mariner, LLC 0.12% of their portfolio Overland Park, KS 1,154,1011.2m $45.7m $45.7m 0.12% Reduced -55.9k -55,876
54 APG Asset Management N.V. 0.08% of their portfolio Amsterdam, P7 1,113,0001.1m $40.4m $40.4m 0.08% Added +360.0k +360,000
55 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,067,7321.1m $42.2m $42.2m 0.01% Added +41.6k +41,571
56 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 983,259983.3k $38.9m $38.9m 0.06% Added +323 +323
57 Johns Hopkins University 2.10% of their portfolio BALTIMORE, MD 954,273954.3k $37.8m $37.8m 2.10% Unchanged
58 Corient Private Wealth LP 0.08% of their portfolio MIAMI, FL 927,413927.4k $36.7m $36.7m 0.08% Added +50.6k +50,556
59 Creative Planning 0.05% of their portfolio OVERLAND PARK, KS 911,106911.1k $36.0m $36.0m 0.05% Added +29.2k +29,206
60 RAYMOND JAMES & ASSOCIATES 0.03% of their portfolio ST PETERSBURG, FL 878,229878.2k $34.7m $34.7m 0.03% Reduced -91.1k -91,057
61 Varma Mutual Pension Insurance Co 0.39% of their portfolio Varma, H9 831,517831.5k $32.9m $32.9m 0.39% New
62 HighTower Advisors, LLC 0.06% of their portfolio CHICAGO, IL 831,390831.4k $32.9m $32.9m 0.06% Reduced -47.9k -47,873
63 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 800,319800.3k $31.7m $31.7m 0.04% Added +86.2k +86,222
64 TD Asset Management Inc 0.03% of their portfolio Toronto, A6 766,055766.1k $30.3m $30.3m 0.03% Added +9.4k +9,423
65 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 742,268742.3k $29.4m $29.4m 0.05% Reduced -43.1k -43,128
66 Trust Co 4.33% of their portfolio MANHATTAN, KS 733,945733.9k $29.0m $29.0m 4.33% Added +17.0k +17,013
67 Bridgewater Associates, LP 0.18% of their portfolio Westport, CT 729,988730.0k $28.9m $28.9m 0.18% Added +178.7k +178,726
68 MML INVESTORS SERVICES, LLC 0.15% of their portfolio SPRINGFIELD, MA 705,497705.5k $27.9m $27.9m 0.15% Added +8.4k +8,354
69 Caisse de depot et placement du Quebec 0.07% of their portfolio Montreal, A8 699,422699.4k $27.7m $27.7m 0.07% Reduced -518.5k -518,450
70 Twin Tree Management, LP 0.56% of their portfolio DALLAS, TX 685,481685.5k $27.1m $27.1m 0.56% Added +683.0k +682,980
71 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.35% of their portfolio Madrid, U3 675,268675.3k $26.7m $26.7m 0.35% Added +337.7k +337,651
72 CASTLEARK MANAGEMENT LLC 1.19% of their portfolio CHICAGO, IL 662,100662.1k $26.2m $26.2m 1.19% Reduced -660.1k -660,110
73 HUNTINGTON NATIONAL BANK 0.24% of their portfolio COLUMBUS, OH 659,304659.3k $26.1m $26.1m 0.24% Added +66.8k +66,764
74 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 645,049645.0k $25.5m $25.5m 0.00% Reduced -13.1k -13,131
75 Brevan Howard Capital Management LP 4.65% of their portfolio ST. HELIER, Y9 640,000640.0k $25.3m $25.3m 4.65% New
76 MKP Capital Management, L.L.C. 2.65% of their portfolio New York, NY 614,800614.8k $24.3m $24.3m 2.65% New
77 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 604,689604.7k $23.9m $23.9m 0.05% Reduced -598 -598
78 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 593,536593.5k $23.5m $23.5m 0.03% Added +18.2k +18,250
79 Cresset Asset Management, LLC 0.16% of their portfolio Chicago, IL 581,103581.1k $23.0m $23.0m 0.16% Added +5.9k +5,930
80 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 569,741569.7k $22.5m $22.5m 0.01% Reduced -17.4k -17,370
81 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 557,192557.2k $22.0m $22.0m 0.01% Reduced -28.3k -28,341
82 ING GROEP NV 0.16% of their portfolio AMSTERDAM, P7 546,596546.6k $21.6m $21.6m 0.16% Added +70.0k +70,000
83 TUDOR INVESTMENT CORP ET AL 0.35% of their portfolio STAMFORD, CT 545,369545.4k $21.6m $21.6m 0.35% Added +489.6k +489,554
84 LAZARD ASSET MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 544,221544.2k $21.5m $21.5m 0.03% Reduced -154.0k -153,975
85 DUPONT CAPITAL MANAGEMENT CORP 1.06% of their portfolio Wilmington, DE 542,709542.7k $21.5m $21.5m 1.06% Reduced -259.1k -259,140
86 ACADIAN ASSET MANAGEMENT LLC 0.09% of their portfolio Boston, MA 534,218534.2k $21.1m $21.1m 0.09% Added +438.2k +438,193
87 BW Gestao de Investimentos Ltda. 3.20% of their portfolio SAO PAULO, D5 530,000530.0k $21.0m $21.0m 3.20% Reduced -279.2k -279,160
88 Mariner Managed Account Solutions, LLC 1.67% of their portfolio Boston, MA 515,639515.6k $20.4m $20.4m 1.67% Reduced -10.9k -10,936
89 Allspring Global Investments Holdings, LLC 0.03% of their portfolio CHARLOTTE, NC 513,293513.3k $20.3m $20.3m 0.03% Reduced -7.6k -7,582
90 Squarepoint Ops LLC 0.11% of their portfolio NEW YORK, NY 512,159512.2k $20.3m $20.3m 0.11% Reduced -1.7m -1,662,996
91 SEI INVESTMENTS CO 0.04% of their portfolio OAKS, PA 508,461508.5k $20.1m $20.1m 0.04% Added +317.3k +317,263
92 Senator Investment Group LP 0.89% of their portfolio New York, NY 500,000500.0k $19.8m $19.8m 0.89% Not comparable
93 Quent Capital, LLC 3.06% of their portfolio NEW YORK, NY 493,803493.8k $19.5m $19.5m 3.06% Added +8.1k +8,080
94 AMARILLO NATIONAL BANK 3.73% of their portfolio AMARILLO, TX 485,404485.4k $19.2m $19.2m 3.73% Added +47.9k +47,871
95 Erste Asset Management GmbH 0.33% of their portfolio VIENNA, C4 482,118482.1k $19.0m $19.0m 0.33% Reduced -1.0k -1,000
96 PKO Investment Management Joint-Stock Co 2.33% of their portfolio WARSAW, R9 480,954481.0k $19.0m $19.0m 2.33% Added +70.7k +70,720
97 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 478,917478.9k $18.9m $18.9m 0.05% Reduced -77.1k -77,107
98 BANQUE PICTET & CIE SA 0.17% of their portfolio GENEVA 73, V8 475,717475.7k $18.8m $18.8m 0.17% Added +12.7k +12,702
99 PRUDENTIAL FINANCIAL INC 0.03% of their portfolio NEWARK, NJ 460,952461.0k $18.2m $18.2m 0.03% Added +7.8k +7,785
100 GLENMEDE TRUST CO NA 0.10% of their portfolio PHILADELPHIA, PA 455,733455.7k $18.0m $18.0m 0.10% Unchanged