Vault-13

ISHARES TR EEM

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

1,649 institutional holders +25 vs Q1 2026
1,285,933,4261.3bn shares reported held*
$88.0bnreported value*
128 new 605 added 565 reduced 97 sold out net bought ≈ $14.9bn (+217.8m 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 ($32.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $68.43. Options: 44 managers hold calls ($8.2bn notional), 67 hold puts ($13.8bn).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,221Q4 22: 1,319Q1 23: 1,322Q2 23: 1,328Q3 23: 1,282Q4 23: 1,317Q1 24: 1,281Q2 24: 1,277Q3 24: 1,288Q4 24: 1,333Q1 25: 1,315Q2 25: 1,361Q3 25: 1,418Q4 25: 1,525Q1 26: 1,624Q2 26: 1,6491,649Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 20221,221
Q4 20221,319
Q1 20231,322
Q2 20231,328
Q3 20231,282
Q4 20231,317
Q1 20241,281
Q2 20241,277
Q3 20241,288
Q4 20241,333
Q1 20251,315
Q2 20251,361
Q3 20251,418
Q4 20251,525
Q1 20261,624
Q2 20261,649

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ3 24: 431 bought or addedQ3 24: 586 cut or sold outQ4 24: 522 bought or addedQ4 24: 554 cut or sold outQ4 24Q1 25: 454 bought or addedQ1 25: 632 cut or sold outQ2 25: 584 bought or addedQ2 25: 567 cut or sold outQ2 25Q3 25: 548 bought or addedQ3 25: 540 cut or sold outQ4 25: 654 bought or addedQ4 25: 551 cut or sold outQ4 25Q1 26: 767 bought or addedQ1 26: 543 cut or sold outQ2 26: 733 bought or addedQ2 26: 662 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024431586
Q4 2024522554
Q1 2025454632
Q2 2025584567
Q3 2025548540
Q4 2025654551
Q1 2026767543
Q2 2026733662

Calls vs puts

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

CallsPuts
$0$5bn$10bn$15bnQ3 25 calls: $14.3bnQ3 25 puts: $14.4bnQ3 25P/C 1.01Q4 25 calls: $7.8bnQ4 25 puts: $11.8bnQ4 25P/C 1.52Q1 26 calls: $10.7bnQ1 26 puts: $14.0bnQ1 26P/C 1.31Q2 26 calls: $8.2bnQ2 26 puts: $13.8bnQ2 26P/C 1.68
Numbers
QuarterCallsPutsP/C
Q3 2025$14.3bn$14.4bn1.01
Q4 2025$7.8bn$11.8bn1.52
Q1 2026$10.7bn$14.0bn1.31
Q2 2026$8.2bn$13.8bn1.68

Biggest buyers

BARCLAYS PLC Added +215,517,789+215.5m
MORGAN STANLEY Added +4,737,737+4.7m
BANK OF AMERICA CORP /DE/ Added +3,458,603+3.5m
GOLDMAN SACHS GROUP INC Added +3,049,488+3.0m
JPMORGAN CHASE & CO Added +2,240,969+2.2m
BANK OF NOVA SCOTIA Added +2,018,049+2.0m
BlackRock, Inc. Added +1,857,838+1.9m
Sand Hill Global Advisors, LLC Added +1,160,649+1.2m
Greenfield FTC, Inc. Added +1,093,188+1.1m
NATIONAL BANK OF CANADA /FI/ Added +937,927+937.9k

Biggest sellers

ROYAL BANK OF CANADA Reduced -5,536,300-5.5m
Board of Trustees of The Leland Stanford Junior University Reduced -3,629,644-3.6m
SIH Partners, LLLP Sold out -2,321,400-2.3m
MILLENNIUM MANAGEMENT LLC Reduced -2,229,689-2.2m
Jain Global LLC Reduced -2,227,639-2.2m
Absolute Gestao de Investimentos Ltda. Sold out -2,064,273-2.1m
CITIGROUP INC Reduced -1,914,073-1.9m
BNP PARIBAS FINANCIAL MARKETS Reduced -1,909,900-1.9m
Qube Research & Technologies Ltd Sold out -1,541,393-1.5m
BANK OF MONTREAL /CAN/ Reduced -1,398,292-1.4m

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.4bn20.9m shares
JANE STREET GROUP, LLC Added $1.4bn20.2m shares
CITADEL ADVISORS LLC Reduced $715.6m10.5m shares
BARCLAYS PLC Reduced $692.0m10.1m shares
MILLENNIUM MANAGEMENT LLC Added $610.7m8.9m shares
UBS Group AG Reduced $563.7m8.2m shares
CITIGROUP INC Added $557.0m8.1m shares
GOLDMAN SACHS GROUP INC Reduced $531.9m7.8m shares
BNP PARIBAS FINANCIAL MARKETS Added $344.8m50.4k shares
ADAPT Investment Managers SA New $273.6m4.0m shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.9bn27.7m shares
BARCLAYS PLC Added $1.3bn19.5m shares
GOLDMAN SACHS GROUP INC Added $1.0bn14.8m shares
CITIGROUP INC Added $940.3m13.7m shares
MILLENNIUM MANAGEMENT LLC Reduced $868.3m12.7m shares
Allianz Asset Management GmbH Added $821.2m12.0m shares
CITADEL ADVISORS LLC Reduced $689.9m10.1m shares
WELLS FARGO & COMPANY/MN Reduced $676.9m9.9m shares
JANE STREET GROUP, LLC Reduced $670.9m9.8m shares
UBS Group AG Reduced $652.7m9.5m 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BARCLAYS PLC 20.30% of their portfolio LONDON, X0 939,833,340939.8m $64.3bn $64.3bn 20.30% Added +215.5m +215,517,789
2 BANK OF AMERICA CORP /DE/ 0.18% of their portfolio CHARLOTTE, NC 40,796,59340.8m $2.8bn $2.8bn 0.18% Added +3.5m +3,458,603
3 MORGAN STANLEY 0.14% of their portfolio NEW YORK, NY 38,612,77838.6m $2.6bn $2.6bn 0.14% Added +4.7m +4,737,737
4 BlackRock, Inc. 0.02% of their portfolio New York, NY 19,096,02619.1m $1.3bn $1.3bn 0.02% Added +1.9m +1,857,838
5 WELLS FARGO & COMPANY/MN 0.17% of their portfolio SAN FRANCISCO, CA 13,964,11714.0m $955.3m $955.3m 0.17% Added +191.5k +191,538
6 GOLDMAN SACHS GROUP INC 0.09% of their portfolio NEW YORK, NY 12,400,46512.4m $848.3m $848.3m 0.09% Added +3.0m +3,049,488
7 UBS Group AG 0.13% of their portfolio ZURICH, V8 11,560,55211.6m $790.9m $790.9m 0.13% Added +534.6k +534,618
8 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 11,207,32611.2m $755.7m $755.7m 0.04% Added +2.2m +2,240,969
9 Retirement Systems of Alabama 1.88% of their portfolio MONTGOMERY, AL 9,131,3029.1m $624.7m $624.7m 1.88% Unchanged
10 ROYAL BANK OF CANADA 0.07% of their portfolio TORONTO, A6 6,052,3756.1m $414.0m $414.0m 0.07% Reduced -5.5m -5,536,300
11 Board of Trustees of The Leland Stanford Junior University 69.38% of their portfolio STANFORD, CA 5,406,2825.4m $369.8m $369.8m 69.38% Reduced -3.6m -3,629,644
12 Clal Insurance Enterprises Holdings Ltd 1.54% of their portfolio Tel-aviv, L3 5,010,1065.0m $342.7m $342.7m 1.54% Added +570.1k +570,066
13 PNC Financial Services Group, Inc. 0.16% of their portfolio Pittsburgh, PA 4,650,4174.7m $318.1m $318.1m 0.16% Added +39.3k +39,329
14 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 4,535,3684.5m $310.3m $310.3m 0.07% Added +271.9k +271,868
15 BANK OF MONTREAL /CAN/ 0.11% of their portfolio TORONTO, A6 4,415,4894.4m $302.1m $302.1m 0.11% Reduced -1.4m -1,398,292
16 Bank of New York Mellon Corp 0.04% of their portfolio NEW YORK, NY 3,924,3983.9m $268.5m $268.5m 0.04% Added +68.4k +68,408
17 CITIGROUP INC 0.12% of their portfolio NEW YORK, NY 3,873,3623.9m $265.0m $265.0m 0.12% Reduced -1.9m -1,914,073
18 ACADIAN ASSET MANAGEMENT LLC 0.30% of their portfolio Boston, MA 3,647,5153.6m $249.5m $249.5m 0.30% Added +147.9k +147,910
19 US BANCORP \DE\ 0.25% of their portfolio MINNEAPOLIS, MN 3,374,0393.4m $230.8m $230.8m 0.25% Added +35.7k +35,673
20 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 2,704,4042.7m $185.0m $185.0m 0.04% Added +229.0k +228,966
21 BANK OF NOVA SCOTIA 0.26% of their portfolio TORONTO, A6 2,555,8792.6m $174.8m $174.8m 0.26% Added +2.0m +2,018,049
22 RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio ST. PETERSBURG, FL 2,511,0632.5m $171.8m $171.8m 0.05% Added +350.6k +350,629
23 STATE OF WISCONSIN INVESTMENT BOARD 0.34% of their portfolio MADISON, WI 2,480,4282.5m $169.7m $169.7m 0.34% Reduced -48.2k -48,200
24 MILLENNIUM MANAGEMENT LLC 0.11% of their portfolio NEW YORK, NY 2,399,6302.4m $164.2m $164.2m 0.11% Reduced -2.2m -2,229,689
25 Hirtle & Co., LLC 4.24% of their portfolio WEST CONSHOHOCKEN, PA 1,887,3661.9m $129.1m $129.1m 4.24% Reduced -14.9k -14,871
26 Greenfield FTC, Inc. 17.51% of their portfolio Reno, NV 1,880,5311.9m $128.6m $128.6m 17.51% Added +1.1m +1,093,188
27 Cassaday & Co Wealth Management LLC 2.33% of their portfolio MCLEAN, VA 1,814,7691.8m $124.1m $124.1m 2.33% Reduced -40.8k -40,811
28 BNP PARIBAS FINANCIAL MARKETS 0.06% of their portfolio PARIS, I0 1,782,9071.8m $122.0m $122.0m 0.06% Reduced -1.9m -1,909,900
29 Mariner, LLC 0.13% of their portfolio Overland Park, KS 1,777,0021.8m $121.6m $121.6m 0.13% Added +257.6k +257,582
30 FIFTH THIRD BANCORP 0.18% of their portfolio CINCINNATI, OH 1,638,2801.6m $112.1m $112.1m 0.18% Added +190.5k +190,498
31 Ilmarinen Mutual Pension Insurance Co 0.71% of their portfolio HELSINKI, H9 1,542,7541.5m $105.5m $105.5m 0.71% Unchanged
32 HighTower Advisors, LLC 0.09% of their portfolio CHICAGO, IL 1,418,1461.4m $97.0m $97.0m 0.09% Added +90.9k +90,886
33 GREENLEAF TRUST 0.91% of their portfolio KALAMAZOO, MI 1,379,0591.4m $94.3m $94.3m 0.91% Reduced -89.4k -89,402
34 REGIONS FINANCIAL CORP 0.56% of their portfolio BIRMINGHAM, AL 1,376,1671.4m $94.1m $94.1m 0.56% Reduced -51.4k -51,353
35 TOTAL INVESTMENT MANAGEMENT INC 8.85% of their portfolio SCOTTSDALE, AZ 1,309,1121.3m $83.9m $83.9m 8.85% Reduced -248.5k -248,456
36 Sand Hill Global Advisors, LLC 2.64% of their portfolio Palo Alto, CA 1,279,3501.3m $87.5m $87.5m 2.64% Added +1.2m +1,160,649
37 Jain Global LLC 1.01% of their portfolio NEW YORK, NY 1,250,8891.3m $85.6m $85.6m 1.01% Reduced -2.2m -2,227,639
38 Cetera Investment Advisers 0.08% of their portfolio SCHAUMBURG, IL 1,212,6781.2m $83.0m $83.0m 0.08% Added +14.7k +14,719
39 OSAIC HOLDINGS, INC. 0.10% of their portfolio SCOTTSDALE, AZ 1,209,9981.2m $82.8m $82.8m 0.10% Added +143.4k +143,440
40 FMR LLC 0.00% of their portfolio BOSTON, MA 1,205,8221.2m $82.5m $82.5m 0.00% Added +53.9k +53,904
41 Rockefeller Capital Management L.P. 0.13% of their portfolio NEW YORK, NY 1,205,2991.2m $82.5m $82.5m 0.13% Added +86.6k +86,600
42 Cambridge Investment Research Advisors, Inc. 0.09% of their portfolio FAIRFIELD, IA 1,177,4781.2m $80.6m $80.6m 0.09% Added +805.5k +805,522
43 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 1,161,2441.2m $79.4m $79.4m 0.07% Reduced -113.3k -113,312
44 Squarepoint Ops LLC 0.15% of their portfolio NEW YORK, NY 1,152,8991.2m $78.9m $78.9m 0.15% Added +499.4k +499,407
45 HALBERT HARGROVE GLOBAL ADVISORS, LLC 3.14% of their portfolio LONG BEACH, CA 1,056,6151.1m $72.3m $72.3m 3.14% Reduced -31.1k -31,099
46 TUDOR INVESTMENT CORP ET AL 0.29% of their portfolio STAMFORD, CT 1,016,0611.0m $69.5m $69.5m 0.29% Added +264.1k +264,080
47 KEYBANK NATIONAL ASSOCIATION/OH 0.22% of their portfolio BROOKLYN, OH 973,583973.6k $66.6m $66.6m 0.22% Added +2.7k +2,684
48 CONNABLE OFFICE INC 5.79% of their portfolio KALAMAZOO, MI 960,965961.0k $65.7m $65.7m 5.79% Reduced -63.1k -63,122
49 NATIONAL BANK OF CANADA /FI/ 0.06% of their portfolio MONTREAL, A8 946,843946.8k $64.8m $64.8m 0.06% Added +937.9k +937,927
50 SG Americas Securities, LLC 0.04% of their portfolio NEW YORK, NY 929,275929.3k $63.6m $63.6m 0.04% Added +644.0k +643,996
51 ALLSTATE CORP 0.63% of their portfolio NORTHBROOK, IL 925,445925.4k $63.3m $63.3m 0.63% Reduced -378.5k -378,499
52 USA FINANCIAL FORMULAS 11.15% of their portfolio ADA, MI 889,999890.0k $60.9m $60.9m 11.15% First filing
53 CIBC Bancorp USA Inc. 0.07% of their portfolio CHICAGO, IL 885,916885.9k $60.6m $60.6m 0.07% Added +92.9k +92,909
54 TRUIST FINANCIAL CORP 0.07% of their portfolio CHARLOTTE, NC 883,797883.8k $60.5m $60.5m 0.07% Added +54.3k +54,280
55 Focus Partners Wealth 0.06% of their portfolio ST LOUIS, MO 881,298881.3k $60.3m $60.3m 0.06% Added +40.9k +40,861
56 Phoenix Financial Ltd. 0.41% of their portfolio Givatayim, L3 880,828880.8k $60.3m $60.3m 0.41% Added +548 +548
57 DEUTSCHE BANK AG\ 0.02% of their portfolio FRANKFURT AM MAIN, 2M 852,504852.5k $58.3m $58.3m 0.02% Added +21.2k +21,193
58 Wilmington Savings Fund Society, FSB 1.25% of their portfolio WILMINGTON, DE 817,183817.2k $55.9m $55.9m 1.25% Added +10.7k +10,659
59 LAZARD ASSET MANAGEMENT LLC 0.08% of their portfolio NEW YORK, NY 816,454816.5k $55.9m $55.9m 0.08% Added +733.1k +733,115
60 CAPTRUST FINANCIAL ADVISORS 0.08% of their portfolio RALEIGH, NC 802,767802.8k $54.9m $54.9m 0.08% Reduced -67.7k -67,676
61 Erste Asset Management GmbH 0.38% of their portfolio VIENNA, C4 797,119797.1k $49.0m $49.0m 0.38% Reduced -2.7k -2,700
62 Corient Private Wealth LP 0.07% of their portfolio MIAMI, FL 783,265783.3k $53.7m $53.7m 0.07% Reduced -29.8k -29,807
63 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 769,883769.9k $52.7m $52.7m 0.01% Reduced -100.9k -100,855
64 Granite Bay Wealth Management, LLC 4.79% of their portfolio PORTSMOUTH, NH 759,524759.5k $52.0m $52.0m 4.79% Added +361.9k +361,851
65 Koss-Olinger Consulting, LLC 3.92% of their portfolio GAINESVILLE, FL 743,148743.1k $50.8m $50.8m 3.92% Added +682.7k +682,745
66 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.03% of their portfolio MILWAUKEE, WI 726,259726.3k $49.7m $49.7m 0.03% Added +51.7k +51,667
67 Creative Planning 0.03% of their portfolio OVERLAND PARK, KS 718,199718.2k $49.1m $49.1m 0.03% Reduced -19.7k -19,666
68 CAPITOLIS LIQUID GLOBAL MARKETS LLC 0.21% of their portfolio NEW YORK, NY 718,000718.0k $49.1m $49.1m 0.21% New
69 MIZUHO MARKETS AMERICAS LLC 0.88% of their portfolio NEW YORK, NY 713,800713.8k $48.8m $48.8m 0.88% New
70 Parkwood LLC 3.48% of their portfolio CLEVELAND, OH 710,000710.0k $48.6m $48.6m 3.48% Unchanged
71 M&T Bank Corp 0.14% of their portfolio BUFFALO, NY 707,423707.4k $48.4m $48.4m 0.14% Reduced -19.9k -19,884
72 Mitsubishi UFJ Trust & Banking Corp 0.11% of their portfolio TOKYO, M0 703,371703.4k $48.1m $48.1m 0.11% Reduced -35.9k -35,862
73 Nearwater Capital Markets, Ltd 0.83% of their portfolio NEW YORK, NY 700,000700.0k $47.9m $47.9m 0.83% Added +122.5k +122,500
74 MEITAV INVESTMENT HOUSE LTD 0.31% of their portfolio BENE-BERAQ, L3 677,257677.3k $46.3m $46.3m 0.31% New
75 First Western Trust Bank 2.20% of their portfolio Denver, CO 660,248660.2k $45.2m $45.2m 2.20% Added +66.1k +66,105
76 Man Group plc 0.08% of their portfolio LONDON, X0 628,800628.8k $43.0m $43.0m 0.08% Added +299.8k +299,843
77 Provenance Wealth Advisors, LLC 4.09% of their portfolio FORT LAUDERDALE, FL 627,008627.0k $42.9m $42.9m 4.09% Reduced -920 -920
78 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 613,201613.2k $41.9m $41.9m 0.05% Added +8.0k +8,011
79 CAPSTONE INVESTMENT ADVISORS, LLC 0.29% of their portfolio NEW YORK, NY 605,065605.1k $41.4m $41.4m 0.29% Reduced -123.9k -123,902
80 HUNTINGTON NATIONAL BANK 0.19% of their portfolio COLUMBUS, OH 585,827585.8k $40.1m $40.1m 0.19% Reduced -21.2k -21,216
81 WESTWOOD HOLDINGS GROUP INC 0.30% of their portfolio DALLAS, TX 585,604585.6k $40.1m $40.1m 0.30% Added +412.7k +412,667
82 New Harbor Financial Group, LLC 6.35% of their portfolio WORCESTER, MA 583,206583.2k $39.9m $39.9m 6.35% Added +14.4k +14,432
83 SEI INVESTMENTS CO 0.04% of their portfolio OAKS, PA 582,678582.7k $39.9m $39.9m 0.04% Added +168.0k +168,032
84 PRUDENTIAL PLC 0.26% of their portfolio LONDON, X0 564,350564.4k $38.6m $38.6m 0.26% Added +1.7k +1,700
85 HWG Holdings LP 8.63% of their portfolio HOUSTON, TX 558,040558.0k $38.2m $38.2m 8.63% Added +87.6k +87,635
86 AMARILLO NATIONAL BANK 6.00% of their portfolio AMARILLO, TX 547,167547.2k $37.4m $37.4m 6.00% Added +556 +556
87 Checchi Capital Advisers, LLC 2.37% of their portfolio BEVERLY HILLS, CA 544,579544.6k $37.3m $37.3m 2.37% Reduced -134.1k -134,131
88 TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC 0.13% of their portfolio CHARLOTTE, NC 531,185531.2k $36.3m $36.3m 0.13% Added +94.9k +94,884
89 Schonfeld Strategic Advisors LLC 0.19% of their portfolio NEW YORK, NY 531,015531.0k $36.3m $36.3m 0.19% Added +525.2k +525,219
90 Beirne Wealth Consulting Services, LLC 7.16% of their portfolio SHELTON, CT 526,196526.2k $36.0m $36.0m 7.16% Added +382.7k +382,676
91 MML INVESTORS SERVICES, LLC 0.07% of their portfolio SPRINGFIELD, MA 520,563520.6k $35.6m $35.6m 0.07% Added +59.6k +59,584
92 Baird Financial Group, Inc. 0.05% of their portfolio MILWAUKEE, WI 520,252520.3k $35.6m $35.6m 0.05% Added +19.1k +19,070
93 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 508,280508.3k $34.8m $34.8m 0.01% Reduced -5.6k -5,577
94 COMMERCE BANK 0.15% of their portfolio KANSAS CITY, MO 495,439495.4k $33.9m $33.9m 0.15% Reduced -6.7k -6,713
95 Quent Capital, LLC 2.08% of their portfolio NEW YORK, NY 495,204495.2k $33.9m $33.9m 2.08% Reduced -15.2k -15,218
96 GLENMEDE TRUST CO NA 0.15% of their portfolio PHILADELPHIA, PA 493,039493.0k $33.7m $33.7m 0.15% Added +15.6k +15,631
97 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.03% of their portfolio FRANKFURT AM MAIN, 2M 481,363481.4k $32.9m $32.9m 0.03% Unchanged
98 Itau Unibanco Holding S.A. 0.63% of their portfolio SAO PAULO, D5 470,600470.6k $32.2m $32.2m 0.63% Added +428.6k +428,583
99 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 468,107468.1k $31.7m $31.7m 0.02% Reduced -143.2k -143,159
100 Concurrent Investment Advisors, LLC 0.27% of their portfolio Tampa, FL 466,139466.1k $31.9m $31.9m 0.27% Added +295.9k +295,892