Vault-13

ISHARES TR IEFA

CORE MSCI EAFE · ETP · CUSIP 46432F842

2,348 institutional holders +212 vs Q3 2025
1,539,679,2521.5bn shares reported held*
$137.6bnreported value*
130 new 1,100 added 658 reduced 60 sold out net bought ≈ $1.6bn (+19.1m 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 ($486.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $89.39. Options: 2 managers hold calls ($5.4m notional), 3 hold puts ($1.6m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 22: 1,416Q4 22: 1,527Q1 23: 1,555Q2 23: 1,585Q3 23: 1,588Q4 23: 1,748Q1 24: 1,788Q2 24: 1,816Q3 24: 1,858Q4 24: 2,004Q1 25: 2,041Q2 25: 2,110Q3 25: 2,136Q4 25: 2,3482,348Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 20221,416
Q4 20221,527
Q1 20231,555
Q2 20231,585
Q3 20231,588
Q4 20231,748
Q1 20241,788
Q2 20241,816
Q3 20241,858
Q4 20242,004
Q1 20252,041
Q2 20252,110
Q3 20252,136
Q4 20252,348

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ1 24: 872 bought or addedQ1 24: 724 cut or sold outQ2 24: 953 bought or addedQ2 24: 685 cut or sold outQ2 24Q3 24: 900 bought or addedQ3 24: 716 cut or sold outQ4 24: 1,015 bought or addedQ4 24: 698 cut or sold outQ4 24Q1 25: 929 bought or addedQ1 25: 872 cut or sold outQ2 25: 1,155 bought or addedQ2 25: 778 cut or sold outQ2 25Q3 25: 1,062 bought or addedQ3 25: 796 cut or sold outQ4 25: 1,230 bought or addedQ4 25: 718 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024872724
Q2 2024953685
Q3 2024900716
Q4 20241,015698
Q1 2025929872
Q2 20251,155778
Q3 20251,062796
Q4 20251,230718

Calls vs puts

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

CallsPuts
$0$2.5m$5m$7.5m$10mQ1 25 calls: $7.6mQ1 25 puts: $801.0kQ1 25P/C 0.10Q2 25 calls: $8.6mQ2 25 puts: $3.1mQ2 25P/C 0.37Q3 25 calls: $9.2mQ3 25 puts: $2.2mQ3 25P/C 0.24Q4 25 calls: $5.4mQ4 25 puts: $1.6mQ4 25P/C 0.30
Numbers
QuarterCallsPutsP/C
Q1 2025$7.6m$801.0k0.10
Q2 2025$8.6m$3.1m0.37
Q3 2025$9.2m$2.2m0.24
Q4 2025$5.4m$1.6m0.30

Biggest buyers

RAYMOND JAMES FINANCIAL INC Added +5,635,481+5.6m
MORGAN STANLEY Added +4,892,313+4.9m
JONES FINANCIAL COMPANIES LLLP Added +4,092,682+4.1m
Corient Private Wealth LP Added +3,483,321+3.5m
BANK OF AMERICA CORP /DE/ Added +2,898,995+2.9m
WELLS FARGO & COMPANY/MN Added +2,898,461+2.9m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +2,892,777+2.9m
LPL Financial LLC Added +1,799,732+1.8m
Dynasty Wealth Management, LLC Added +1,603,297+1.6m
Bank of New York Mellon Corp Added +1,557,410+1.6m

Biggest sellers

JPMORGAN CHASE & CO Reduced -16,842,852-16.8m
ENVESTNET ASSET MANAGEMENT INC Reduced -4,205,575-4.2m
MACQUARIE GROUP LTD Sold out -3,367,504-3.4m
Sanctuary Advisors, LLC Reduced -2,715,539-2.7m
Aptus Capital Advisors, LLC Reduced -2,059,085-2.1m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -1,378,319-1.4m
MISSION WEALTH MANAGEMENT, LP Reduced -1,268,847-1.3m
BANK OF MONTREAL /CAN/ Reduced -1,130,965-1.1m
BlackRock, Inc. Reduced -1,092,318-1.1m
TIAA TRUST, NATIONAL ASSOCIATION Reduced -942,901-942.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $5.0m56.3k shares
JANE STREET GROUP, LLC Reduced $322.1k3.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.1m12.3k shares
Smith & Howard Wealth Management, LLC Added $267.9k3.1k shares
Point72 Asset Management, L.P. New $214.7k2.4k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 1.48% of their portfolio CHARLOTTE, NC 227,762,243227.8m $20.4bn $20.4bn 1.48% Added +2.9m +2,898,995
2 MORGAN STANLEY 0.56% of their portfolio NEW YORK, NY 104,883,248104.9m $9.4bn $9.4bn 0.56% Added +4.9m +4,892,313
3 JONES FINANCIAL COMPANIES LLLP 5.49% of their portfolio DES PERES, MO 100,633,222100.6m $9.0bn $9.0bn 5.49% Added +4.1m +4,092,682
4 WELLS FARGO & COMPANY/MN 1.38% of their portfolio SAN FRANCISCO, CA 79,118,87579.1m $7.1bn $7.1bn 1.38% Added +2.9m +2,898,461
5 TIAA TRUST, NATIONAL ASSOCIATION 10.02% of their portfolio CHARLOTTE, NC 46,633,58946.6m $4.2bn $4.2bn 10.02% Reduced -942.9k -942,901
6 RAYMOND JAMES FINANCIAL INC 1.20% of their portfolio ST. PETERSBURG, FL 43,144,72243.1m $3.9bn $3.9bn 1.20% Added +5.6m +5,635,481
7 LPL Financial LLC 1.00% of their portfolio FORT MILL, SC 40,788,93340.8m $3.6bn $3.6bn 1.00% Added +1.8m +1,799,732
8 Bank of New York Mellon Corp 0.55% of their portfolio NEW YORK, NY 35,160,49935.2m $3.1bn $3.1bn 0.55% Added +1.6m +1,557,410
9 US BANCORP \DE\ 3.68% of their portfolio MINNEAPOLIS, MN 35,119,12335.1m $3.1bn $3.1bn 3.68% Reduced -332.6k -332,556
10 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 1.98% of their portfolio MILWAUKEE, WI 34,998,92735.0m $3.1bn $3.1bn 1.98% Added +1.0m +1,044,074
11 ENVESTNET ASSET MANAGEMENT INC 0.93% of their portfolio Berwyn, PA 34,884,49434.9m $3.1bn $3.1bn 0.93% Reduced -4.2m -4,205,575
12 BlackRock, Inc. 0.05% of their portfolio New York, NY 31,516,92031.5m $2.8bn $2.8bn 0.05% Reduced -1.1m -1,092,318
13 FMR LLC 0.12% of their portfolio BOSTON, MA 26,194,16826.2m $2.3bn $2.3bn 0.12% Added +1.4m +1,426,765
14 GOLDMAN SACHS GROUP INC 0.30% of their portfolio NEW YORK, NY 23,596,05523.6m $2.1bn $2.1bn 0.30% Added +173.2k +173,185
15 UBS Group AG 0.38% of their portfolio ZURICH, V8 21,491,18521.5m $1.9bn $1.9bn 0.38% Added +216.9k +216,878
16 JPMORGAN CHASE & CO 0.11% of their portfolio NEW YORK, NY 18,177,16418.2m $1.6bn $1.6bn 0.11% Reduced -16.8m -16,842,852
17 TRUIST FINANCIAL CORP 2.10% of their portfolio CHARLOTTE, NC 17,557,18317.6m $1.6bn $1.6bn 2.10% Added +1.2m +1,233,072
18 PNC Financial Services Group, Inc. 0.82% of their portfolio Pittsburgh, PA 16,742,55016.7m $1.5bn $1.5bn 0.82% Added +379.8k +379,750
19 M&T Bank Corp 3.93% of their portfolio BUFFALO, NY 13,688,58913.7m $1.2bn $1.2bn 3.93% Reduced -76.5k -76,471
20 AMERIPRISE FINANCIAL INC 0.27% of their portfolio MINNEAPOLIS, MN 13,449,69613.4m $1.2bn $1.2bn 0.27% Added +634.0k +633,958
21 BANK OF MONTREAL /CAN/ 0.46% of their portfolio TORONTO, A6 12,495,92412.5m $1.1bn $1.1bn 0.46% Reduced -1.1m -1,130,965
22 Cerity Partners LLC 1.46% of their portfolio NEW YORK, NY 11,216,04311.2m $1.0bn $1.0bn 1.46% Reduced -384.7k -384,681
23 STIFEL FINANCIAL CORP 0.89% of their portfolio ST. LOUIS, MO 11,115,32611.1m $994.4m $994.4m 0.89% Added +809.9k +809,906
24 Cetera Investment Advisers 1.05% of their portfolio SCHAUMBURG, IL 10,758,68110.8m $962.5m $962.5m 1.05% Added +261.5k +261,488
25 Mariner, LLC 1.04% of their portfolio Overland Park, KS 9,726,7609.7m $870.2m $870.2m 1.04% Added +475.0k +475,010
26 Betterment LLC 1.64% of their portfolio NEW YORK, NY 9,608,9039.6m $859.6m $859.6m 1.64% Reduced -258.0k -258,017
27 KEYBANK NATIONAL ASSOCIATION/OH 3.00% of their portfolio BROOKLYN, OH 9,364,8099.4m $837.8m $837.8m 3.00% Added +696.7k +696,674
28 Envestnet Portfolio Solutions, Inc. 2.80% of their portfolio BERWYN, PA 8,904,2248.9m $796.6m $796.6m 2.80% Added +105.4k +105,373
29 ROYAL BANK OF CANADA 0.14% of their portfolio TORONTO, A6 8,819,5288.8m $789.0m $789.0m 0.14% Reduced -84.1k -84,132
30 ASSETMARK, INC 1.53% of their portfolio CONCORD, CA 8,364,9918.4m $748.3m $748.3m 1.53% Added +324.4k +324,352
31 Corient Private Wealth LP 0.39% of their portfolio MIAMI, FL 6,514,4846.5m $581.5m $581.5m 0.39% Added +3.5m +3,483,321
32 ALLIANCEBERNSTEIN L.P. 0.18% of their portfolio NASHVILLE, TN 6,448,5306.4m $576.9m $576.9m 0.18% Reduced -123.0k -122,971
33 Ballentine Partners, LLC 8.04% of their portfolio Waltham, MA 6,395,4966.4m $572.1m $572.1m 8.04% Reduced -108.9k -108,946
34 Baird Financial Group, Inc. 0.82% of their portfolio MILWAUKEE, WI 5,868,8805.9m $525.0m $525.0m 0.82% Added +234.4k +234,421
35 HighTower Advisors, LLC 0.53% of their portfolio CHICAGO, IL 5,463,3675.5m $488.8m $488.8m 0.53% Added +660.3k +660,292
36 Cresset Asset Management, LLC 2.06% of their portfolio Chicago, IL 5,420,4475.4m $484.9m $484.9m 2.06% Added +295.1k +295,149
37 FLPUTNAM INVESTMENT MANAGEMENT CO 6.83% of their portfolio PORTLAND, ME 5,246,9825.2m $469.4m $469.4m 6.83% Added +403.0k +403,031
38 Dynasty Wealth Management, LLC 4.55% of their portfolio ST. PETERSBURG, FL 5,182,5515.2m $463.6m $463.6m 4.55% Added +1.6m +1,603,297
39 UNITED CAPITAL FINANCIAL ADVISORS, LLC 2.68% of their portfolio IRVING, TX 4,968,6705.0m $444.5m $444.5m 2.68% Added +27.7k +27,703
40 Pure Financial Advisors, LLC 6.07% of their portfolio SAN DIEGO, CA 4,596,4564.6m $411.2m $411.2m 6.07% Added +235.4k +235,394
41 Fiduciary Trust Co 4.61% of their portfolio Boston, MA 4,533,8754.5m $405.6m $405.6m 4.61% Reduced -10.2k -10,190
42 Allspring Global Investments Holdings, LLC 0.66% of their portfolio CHARLOTTE, NC 4,510,2384.5m $407.5m $407.5m 0.66% Added +554.1k +554,123
43 VANTAGEPOINT INVESTMENT ADVISERS LLC 3.21% of their portfolio WASHINGTON, DC 4,460,5844.5m $399.0m $399.0m 3.21% Added +276.5k +276,466
44 Mill Creek Capital Advisors, LLC 8.03% of their portfolio Conshohocken, PA 4,403,8274.4m $394.0m $394.0m 8.03% Added +8.6k +8,602
45 FRANKLIN RESOURCES INC 0.09% of their portfolio San Mateo, CA 4,313,6574.3m $385.9m $385.9m 0.09% Reduced -879.7k -879,706
46 MML INVESTORS SERVICES, LLC 0.90% of their portfolio SPRINGFIELD, MA 4,107,8724.1m $367.5m $367.5m 0.90% Added +565.4k +565,425
47 MERCER GLOBAL ADVISORS INC /ADV 0.54% of their portfolio DENVER, CO 3,982,0844.0m $356.2m $356.2m 0.54% Reduced -238.1k -238,089
48 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.53% of their portfolio PHILADELPHIA, PA 3,957,8034.0m $354.1m $354.1m 0.53% First filing
49 Hirtle & Co., LLC 11.54% of their portfolio WEST CONSHOHOCKEN, PA 3,787,5053.8m $338.8m $338.8m 11.54% Added +75.6k +75,612
50 SEI INVESTMENTS CO 0.32% of their portfolio OAKS, PA 3,649,5833.6m $326.5m $326.5m 0.32% Reduced -56.0k -56,042
51 GRIMES & Co WEALTH MANAGEMENT, LLC 7.64% of their portfolio WESTBOROUGH, MA 3,575,4623.6m $319.9m $319.9m 7.64% Added +36.0k +36,016
52 FIFTH THIRD BANCORP 1.01% of their portfolio CINCINNATI, OH 3,558,7673.6m $318.4m $318.4m 1.01% Added +42.0k +42,006
53 SIGNATUREFD, LLC 4.82% of their portfolio ATLANTA, GA 3,530,8713.5m $315.9m $315.9m 4.82% Added +103.3k +103,272
54 Modera Wealth Management, LLC 3.63% of their portfolio WESTWOOD, NJ 3,503,8683.5m $313.5m $313.5m 3.63% Reduced -34.6k -34,605
55 Bell Bank 13.22% of their portfolio FARGO, ND 3,456,9343.5m $309.3m $309.3m 13.22% Added +16.3k +16,260
56 MISSION WEALTH MANAGEMENT, LP 5.97% of their portfolio Santa Barbara, CA 3,277,5633.3m $293.2m $293.2m 5.97% Reduced -1.3m -1,268,847
57 COMMONWEALTH EQUITY SERVICES, LLC 0.38% of their portfolio WALTHAM, MA 3,178,4003.2m $284.3m $284.3m 0.38% Reduced -337.4k -337,390
58 RiverFront Investment Group, LLC 4.65% of their portfolio RICHMOND, VA 3,155,0223.2m $282.2m $282.2m 4.65% Added +476.6k +476,553
59 &PARTNERS 1.47% of their portfolio NASHVILLE, TN 3,135,7643.1m $280.3m $280.3m 1.47% Added +162.4k +162,426
60 TD PRIVATE CLIENT WEALTH LLC 5.97% of their portfolio NEW YORK, NY 3,132,6013.1m $280.2m $280.2m 5.97% Added +277.4k +277,421
61 Stairway Partners, LLC 14.35% of their portfolio MINNEAPOLIS, MN 3,097,5973.1m $277.1m $277.1m 14.35% Reduced -54.8k -54,785
62 Members Trust Co 8.89% of their portfolio TAMPA, FL 3,045,9763.0m $272.5m $272.5m 8.89% Reduced -14.9k -14,944
63 BROWN BROTHERS HARRIMAN & CO 1.45% of their portfolio NEW YORK, NY 2,961,6183.0m $264.9m $264.9m 1.45% Added +406.6k +406,647
64 Focus Partners Wealth 0.30% of their portfolio ST LOUIS, MO 2,945,0652.9m $260.0m $260.0m 0.30% Added +808.9k +808,883
65 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio NEW YORK, NY 2,892,7772.9m $258.8m $258.8m 0.05% New
66 Heritage Wealth Advisors 9.77% of their portfolio RICHMOND, VA 2,858,7552.9m $255.7m $255.7m 9.77% Added +295.4k +295,418
67 Haverford Trust Co 2.28% of their portfolio Radnor, PA 2,852,8212.9m $255.2m $255.2m 2.28% Added +31.9k +31,873
68 Steward Partners Investment Advisory, LLC 1.39% of their portfolio STAMFORD, CT 2,835,2312.8m $253.6m $253.6m 1.39% Reduced -4.4k -4,403
69 Dixon Mitchell Investment Counsel Inc. 8.19% of their portfolio VANCOUVER, A1 2,775,0672.8m $248.3m $248.3m 8.19% Reduced -66.0k -66,042
70 Creative Planning 0.17% of their portfolio OVERLAND PARK, KS 2,683,6402.7m $240.1m $240.1m 0.17% Reduced -16.0k -15,953
71 Nationwide Fund Advisors 10.08% of their portfolio COLUMBUS, OH 2,632,1002.6m $235.5m $235.5m 10.08% Added +86.1k +86,095
72 Rockefeller Capital Management L.P. 0.42% of their portfolio NEW YORK, NY 2,620,7682.6m $234.5m $234.5m 0.42% Added +457.7k +457,686
73 First Command Advisory Services, Inc. 1.63% of their portfolio FORT WORTH, TX 2,613,6752.6m $233.8m $233.8m 1.63% Added +33.4k +33,373
74 NORTHERN TRUST CORP 0.03% of their portfolio CHICAGO, IL 2,544,6762.5m $227.6m $227.6m 0.03% Reduced -218.4k -218,374
75 MONETA GROUP INVESTMENT ADVISORS LLC 1.71% of their portfolio ST LOUIS, MO 2,525,2012.5m $225.9m $225.9m 1.71% Added +175.3k +175,334
76 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.31% of their portfolio PLYMOUTH, MN 2,520,1922.5m $230.7m $230.7m 0.31% Added +16.8k +16,846
77 PRUDENTIAL FINANCIAL INC 0.26% of their portfolio NEWARK, NJ 2,410,6742.4m $216.6m $216.6m 0.26% Reduced -376.5k -376,538
78 Quotient Wealth Partners, LLC 5.64% of their portfolio DALLAS, TX 2,367,1442.4m $211.8m $211.8m 5.64% Added +225.7k +225,729
79 HANTZ FINANCIAL SERVICES, INC. 3.12% of their portfolio SOUTHFIELD, MI 2,364,3002.4m $211.5m $211.5m 3.12% Added +449.4k +449,393
80 Connecticut Wealth Management, LLC 9.09% of their portfolio FARMINGTON, CT 2,336,2342.3m $209.0m $209.0m 9.09% Added +171.2k +171,185
81 MAI Capital Management 1.20% of their portfolio INDEPENDENCE, OH 2,321,6932.3m $207.7m $207.7m 1.20% Added +88.4k +88,449
82 GREENLEAF TRUST 1.85% of their portfolio KALAMAZOO, MI 2,258,2162.3m $202.0m $202.0m 1.85% Reduced -468.6k -468,607
83 Passaic Partners LLC 20.89% of their portfolio NEWARK, NJ 2,255,9362.3m $201.8m $201.8m 20.89% Added +169.6k +169,636
84 Matson Money. Inc. 6.35% of their portfolio MASON, OH 2,247,2842.2m $201.0m $201.0m 6.35% Added +24.4k +24,404
85 CITIZENS FINANCIAL GROUP INC/RI 2.67% of their portfolio PROVIDENCE, RI 2,227,6112.2m $199.3m $199.3m 2.67% Reduced -48.6k -48,556
86 Balentine LLC 7.48% of their portfolio ATLANTA, GA 2,203,6872.2m $197.1m $197.1m 7.48% Added +199.4k +199,360
87 HSBC HOLDINGS PLC 0.06% of their portfolio LONDON, X0 2,192,5202.2m $196.1m $196.1m 0.06% Added +1.2m +1,213,250
88 CKW FINANCIAL GROUP 20.94% of their portfolio HONOLULU, HI 2,158,4922.2m $193.1m $193.1m 20.94% Reduced -9.7k -9,666
89 OpenArc Corporate Advisory, LLC 3.15% of their portfolio ATLANTA, GA 2,132,3432.1m $190.8m $190.8m 3.15% First filing
90 MIDLAND WEALTH ADVISORS, LLC 9.75% of their portfolio EFFINGHAM, IL 2,094,7912.1m $187.4m $187.4m 9.75% Added +51.3k +51,286
91 Retirement Investment Advisors, Inc. 15.02% of their portfolio OKLAHOMA CITY, OK 2,083,3532.1m $186.4m $186.4m 15.02% Added +25.4k +25,354
92 Investure, LLC 10.34% of their portfolio CHARLOTTESVILLE, VA 2,068,1192.1m $185.0m $185.0m 10.34% Added +67.5k +67,474
93 OSAIC HOLDINGS, INC. 0.27% of their portfolio SCOTTSDALE, AZ 2,037,6412.0m $182.3m $182.3m 0.27% Reduced -589.0k -589,033
94 CHOREO, LLC 2.33% of their portfolio ROCKFORD, IL 2,037,0502.0m $183.1m $183.1m 2.33% Added +151.4k +151,417
95 Lido Advisors, LLC 0.67% of their portfolio Los Angeles, CA 1,927,2561.9m $170.7m $170.7m 0.67% Added +137.7k +137,711
96 FIRST CITIZENS BANK & TRUST CO 3.53% of their portfolio RALEIGH, NC 1,892,3631.9m $169.3m $169.3m 3.53% Added +42.0k +41,962
97 WELLINGTON MANAGEMENT GROUP LLP 0.03% of their portfolio Boston, MA 1,875,0611.9m $167.7m $167.7m 0.03% Added +316.6k +316,582
98 HALBERT HARGROVE GLOBAL ADVISORS, LLC 7.93% of their portfolio LONG BEACH, CA 1,852,8541.9m $165.8m $165.8m 7.93% Added +29.0k +29,039
99 NATIXIS ADVISORS, LLC 0.23% of their portfolio Boston, MA 1,811,3821.8m $162.0m $162.0m 0.23% Added +182.3k +182,253
100 Johnson Financial Group, Inc. 6.07% of their portfolio RACINE, WI 1,811,2911.8m $162.0m $162.0m 6.07% Added +199.9k +199,944