Vault-13

ISHARES INC IEMG

CORE MSCI EMKT · ETP · CUSIP 46434G103

1,977 institutional holders +65 vs Q2 2025
1,471,764,7621.5bn shares reported held*
$96.9bnreported value*
135 new 924 added 628 reduced 60 sold out net bought ≈ $5.6bn (+84.9m 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 ($108.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $65.87. Options: 4 managers hold calls ($6.7m notional), 3 hold puts ($815.7k).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,376Q4 22: 1,452Q1 23: 1,532Q2 23: 1,563Q3 23: 1,557Q4 23: 1,691Q1 24: 1,657Q2 24: 1,708Q3 24: 1,736Q4 24: 1,842Q1 25: 1,854Q2 25: 1,912Q3 25: 1,9771,977Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 20221,376
Q4 20221,452
Q1 20231,532
Q2 20231,563
Q3 20231,557
Q4 20231,691
Q1 20241,657
Q2 20241,708
Q3 20241,736
Q4 20241,842
Q1 20251,854
Q2 20251,912
Q3 20251,977

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ4 23: 762 bought or addedQ4 23: 738 cut or sold outQ1 24: 704 bought or addedQ1 24: 871 cut or sold outQ1 24Q2 24: 905 bought or addedQ2 24: 672 cut or sold outQ3 24: 773 bought or addedQ3 24: 801 cut or sold outQ3 24Q4 24: 937 bought or addedQ4 24: 691 cut or sold outQ1 25: 963 bought or addedQ1 25: 767 cut or sold outQ1 25Q2 25: 1,103 bought or addedQ2 25: 690 cut or sold outQ3 25: 1,059 bought or addedQ3 25: 688 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023762738
Q1 2024704871
Q2 2024905672
Q3 2024773801
Q4 2024937691
Q1 2025963767
Q2 20251,103690
Q3 20251,059688

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ4 24 calls: $7.3mQ4 24 puts: $1.2mQ4 24P/C 0.16Q1 25 calls: $3.8mQ1 25 puts: $86.4kQ1 25P/C 0.02Q2 25 calls: $5.5mQ2 25 puts: $240.1kQ2 25P/C 0.04Q3 25 calls: $6.7mQ3 25 puts: $815.7kQ3 25P/C 0.12
Numbers
QuarterCallsPutsP/C
Q4 2024$7.3m$1.2m0.16
Q1 2025$3.8m$86.4k0.02
Q2 2025$5.5m$240.1k0.04
Q3 2025$6.7m$815.7k0.12

Biggest buyers

JPMORGAN CHASE & CO Added +50,006,798+50.0m
ENVESTNET ASSET MANAGEMENT INC Added +8,989,860+9.0m
WELLS FARGO & COMPANY/MN Added +5,639,949+5.6m
LPL Financial LLC Added +4,110,105+4.1m
VANTAGEPOINT INVESTMENT ADVISERS LLC New +3,882,731+3.9m
Bank of New York Mellon Corp Added +3,277,237+3.3m
Cetera Investment Advisers Added +3,002,446+3.0m
BlackRock, Inc. Added +2,394,744+2.4m
MORGAN STANLEY Added +2,162,432+2.2m
Balentine LLC Added +2,106,939+2.1m

Biggest sellers

Bridgewater Associates, LP Reduced -16,022,308-16.0m
JANE STREET GROUP, LLC Reduced -5,153,852-5.2m
NATIONAL BANK OF CANADA /FI/ Reduced -4,752,654-4.8m
Invesco Ltd. Reduced -4,517,461-4.5m
BANK OF AMERICA CORP /DE/ Reduced -4,267,547-4.3m
ROYAL BANK OF CANADA Reduced -4,241,759-4.2m
BANK OF NOVA SCOTIA Sold out -1,063,840-1.1m
Rockefeller Capital Management L.P. Reduced -838,235-838.2k
Kestra Investment Management, LLC Reduced -752,762-752.8k
Wealthfront Advisers LLC Reduced -712,319-712.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $4.8m72.2k shares
WOLVERINE TRADING, LLC Reduced $1.3m20.0k shares
CITADEL ADVISORS LLC Reduced $501.0k7.6k shares
GROUP ONE TRADING LLC Added $125.2k1.9k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $474.6k7.2k shares
CITADEL ADVISORS LLC New $217.5k3.3k shares
Smith & Howard Wealth Management, LLC New $123.5k1.9k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.84% of their portfolio CHARLOTTE, NC 170,911,791170.9m $11.3bn $11.3bn 0.84% Reduced -4.3m -4,267,547
2 MORGAN STANLEY 0.39% of their portfolio NEW YORK, NY 98,816,73498.8m $6.5bn $6.5bn 0.39% Added +2.2m +2,162,432
3 JPMORGAN CHASE & CO 0.19% of their portfolio NEW YORK, NY 92,717,55692.7m $6.1bn $6.1bn 0.19% Added +50.0m +50,006,798
4 Creative Planning 3.78% of their portfolio OVERLAND PARK, KS 75,109,40975.1m $5.0bn $5.0bn 3.78% Added +1.9m +1,865,312
5 ENVESTNET ASSET MANAGEMENT INC 1.33% of their portfolio Berwyn, PA 70,130,24870.1m $4.6bn $4.6bn 1.33% Added +9.0m +8,989,860
6 WELLS FARGO & COMPANY/MN 0.77% of their portfolio SAN FRANCISCO, CA 57,488,39157.5m $3.8bn $3.8bn 0.77% Added +5.6m +5,639,949
7 LPL Financial LLC 0.90% of their portfolio FORT MILL, SC 46,995,24847.0m $3.1bn $3.1bn 0.90% Added +4.1m +4,110,105
8 BlackRock, Inc. 0.05% of their portfolio New York, NY 43,724,25943.7m $2.9bn $2.9bn 0.05% Added +2.4m +2,394,744
9 Wealthfront Advisers LLC 5.82% of their portfolio Palo Alto, CA 37,636,97837.6m $2.5bn $2.5bn 5.82% Reduced -712.3k -712,319
10 TIAA TRUST, NATIONAL ASSOCIATION 5.21% of their portfolio CHARLOTTE, NC 32,650,05232.7m $2.1bn $2.1bn 5.21% Reduced -443.7k -443,682
11 GOLDMAN SACHS GROUP INC 0.30% of their portfolio NEW YORK, NY 31,259,05631.3m $2.1bn $2.1bn 0.30% Added +1.9m +1,909,706
12 US BANCORP \DE\ 2.22% of their portfolio MINNEAPOLIS, MN 28,412,02528.4m $1.9bn $1.9bn 2.22% Added +695.4k +695,372
13 State of New Jersey Common Pension Fund D 5.47% of their portfolio TRENTON, NJ 22,561,00822.6m $1.5bn $1.5bn 5.47% Added +1.6m +1,638,008
14 FMR LLC 0.07% of their portfolio BOSTON, MA 20,403,96320.4m $1.3bn $1.3bn 0.07% Added +515.9k +515,896
15 RAYMOND JAMES FINANCIAL INC 0.39% of their portfolio ST. PETERSBURG, FL 18,570,45818.6m $1.2bn $1.2bn 0.39% Added +287.6k +287,586
16 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.81% of their portfolio MILWAUKEE, WI 18,399,51318.4m $1.2bn $1.2bn 0.81% Added +381.1k +381,061
17 WIT, LLC 24.66% of their portfolio DISTRICT OF COLUMBIA, DC 16,517,68016.5m $1.1bn $1.1bn 24.66% Added +80.7k +80,681
18 UBS Group AG 0.18% of their portfolio ZURICH, V8 13,643,22813.6m $899.4m $899.4m 0.18% Reduced -7.0k -6,959
19 PNC Financial Services Group, Inc. 0.53% of their portfolio Pittsburgh, PA 13,289,93413.3m $876.1m $876.1m 0.53% Added +437.0k +436,986
20 Bank of New York Mellon Corp 0.15% of their portfolio NEW YORK, NY 12,289,84212.3m $810.1m $810.1m 0.15% Added +3.3m +3,277,237
21 Envestnet Portfolio Solutions, Inc. 2.77% of their portfolio BERWYN, PA 11,416,87011.4m $752.6m $752.6m 2.77% Added +492.6k +492,622
22 ROYAL BANK OF CANADA 0.13% of their portfolio TORONTO, A6 11,326,61111.3m $746.6m $746.6m 0.13% Reduced -4.2m -4,241,759
23 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.11% of their portfolio SAN FRANCISCO, CA 10,721,55710.7m $706.8m $706.8m 0.11% Reduced -86.2k -86,249
24 Invesco Ltd. 0.10% of their portfolio ATLANTA, GA 9,469,6129.5m $624.2m $624.2m 0.10% Reduced -4.5m -4,517,461
25 SEI INVESTMENTS CO 0.67% of their portfolio OAKS, PA 9,449,6189.4m $622.9m $622.9m 0.67% Added +145.4k +145,379
26 M&T Bank Corp 2.04% of their portfolio BUFFALO, NY 9,193,2769.2m $606.0m $606.0m 2.04% Reduced -643.5k -643,467
27 ASSETMARK, INC 1.25% of their portfolio CONCORD, CA 8,856,8868.9m $583.8m $583.8m 1.25% Added +85.1k +85,071
28 CAPTRUST FINANCIAL ADVISORS 1.15% of their portfolio RALEIGH, NC 8,519,7668.5m $561.6m $561.6m 1.15% Added +378.4k +378,430
29 Cetera Investment Advisers 0.63% of their portfolio SCHAUMBURG, IL 8,234,8638.2m $542.8m $542.8m 0.63% Added +3.0m +3,002,446
30 CITIGROUP INC 0.35% of their portfolio NEW YORK, NY 7,727,7057.7m $509.4m $509.4m 0.35% Added +282.7k +282,663
31 Mariner, LLC 0.65% of their portfolio Overland Park, KS 7,586,2327.6m $500.1m $500.1m 0.65% Added +495.7k +495,729
32 Retirement Systems of Alabama 1.66% of their portfolio MONTGOMERY, AL 7,584,4317.6m $500.0m $500.0m 1.66% Unchanged
33 Asset Management One Co., Ltd. 1.32% of their portfolio TOKYO, M0 6,916,3126.9m $455.9m $455.9m 1.32% Added +384.5k +384,545
34 Jordan Park Group LLC 25.33% of their portfolio SAN FRANCISCO, CA 6,791,9826.8m $444.0m $444.0m 25.33% Added +118.8k +118,847
35 ALLIANCEBERNSTEIN L.P. 0.14% of their portfolio NASHVILLE, TN 6,759,8176.8m $445.6m $445.6m 0.14% Reduced -464.3k -464,325
36 BANK OF MONTREAL /CAN/ 0.19% of their portfolio TORONTO, A6 6,646,2206.6m $438.1m $438.1m 0.19% Added +692.5k +692,531
37 Betterment LLC 0.79% of their portfolio NEW YORK, NY 6,101,2056.1m $402.2m $402.2m 0.79% Reduced -282.0k -282,007
38 MML INVESTORS SERVICES, LLC 1.00% of their portfolio SPRINGFIELD, MA 5,658,1495.7m $373.0m $373.0m 1.00% Added +693.4k +693,395
39 MONETA GROUP INVESTMENT ADVISORS LLC 2.89% of their portfolio ST LOUIS, MO 5,515,6625.5m $363.6m $363.6m 2.89% Added +18.4k +18,407
40 TRUIST FINANCIAL CORP 0.48% of their portfolio CHARLOTTE, NC 5,360,8215.4m $353.4m $353.4m 0.48% Added +599.4k +599,401
41 PARK AVENUE SECURITIES LLC 2.63% of their portfolio NEW YORK, NY 5,111,6345.1m $337.0m $337.0m 2.63% Added +703.7k +703,716
42 Municipal Employees' Retirement System of Michigan 3.64% of their portfolio LANSING, MI 4,773,1114.8m $314.6m $314.6m 3.64% Unchanged
43 Cerity Partners LLC 0.51% of their portfolio NEW YORK, NY 4,735,8484.7m $312.2m $312.2m 0.51% Added +291.2k +291,212
44 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 4,586,9764.6m $302.4m $302.4m 0.01% Added +324.3k +324,271
45 STIFEL FINANCIAL CORP 0.27% of their portfolio ST. LOUIS, MO 4,565,3274.6m $300.9m $300.9m 0.27% Added +191.8k +191,771
46 CWM, LLC 0.88% of their portfolio OMAHA, NE 4,416,4744.4m $291.1m $291.1m 0.88% Added +276.5k +276,508
47 Ballentine Partners, LLC 3.83% of their portfolio Waltham, MA 4,186,2554.2m $276.0m $276.0m 3.83% Added +29.3k +29,294
48 Dynasty Wealth Management, LLC 3.68% of their portfolio ST. PETERSBURG, FL 4,184,6914.2m $275.9m $275.9m 3.68% Added +718.8k +718,798
49 AMERIPRISE FINANCIAL INC 0.06% of their portfolio MINNEAPOLIS, MN 4,177,7354.2m $275.6m $275.6m 0.06% Added +726.9k +726,865
50 FRANKLIN RESOURCES INC 0.06% of their portfolio San Mateo, CA 3,883,9763.9m $256.0m $256.0m 0.06% Added +159.5k +159,455
51 VANTAGEPOINT INVESTMENT ADVISERS LLC 2.09% of their portfolio WASHINGTON, DC 3,882,7313.9m $255.9m $255.9m 2.09% New
52 Stairway Partners, LLC 12.33% of their portfolio MINNEAPOLIS, MN 3,523,6653.5m $232.3m $232.3m 12.33% Added +31.9k +31,940
53 UNITED CAPITAL FINANCIAL ADVISORS, LLC 1.66% of their portfolio IRVING, TX 3,504,2483.5m $231.0m $231.0m 1.66% Added +135.1k +135,073
54 OSAIC HOLDINGS, INC. 0.31% of their portfolio SCOTTSDALE, AZ 3,389,4443.4m $218.3m $218.3m 0.31% Added +381.8k +381,791
55 Nationwide Fund Advisors 11.62% of their portfolio COLUMBUS, OH 3,196,7473.2m $210.7m $210.7m 11.62% Reduced -303.1k -303,122
56 Janney Montgomery Scott LLC 0.50% of their portfolio PHILADELPHIA, PA 3,196,2863.2m $210.7m $210.7m 0.50% Added +528.1k +528,139
57 Matson Money. Inc. 6.90% of their portfolio MASON, OH 3,180,8663.2m $209.7m $209.7m 6.90% Added +15.5k +15,506
58 KEYBANK NATIONAL ASSOCIATION/OH 0.73% of their portfolio BROOKLYN, OH 3,147,8063.1m $207.5m $207.5m 0.73% Added +150.8k +150,834
59 HighTower Advisors, LLC 0.23% of their portfolio CHICAGO, IL 3,095,5533.1m $204.1m $204.1m 0.23% Added +29.9k +29,866
60 Valeo Financial Advisors, LLC 4.45% of their portfolio CARMEL, IN 2,961,9723.0m $195.3m $195.3m 4.45% Added +54.0k +53,965
61 Sanctuary Advisors, LLC 0.54% of their portfolio INDIANAPOLIS, IN 2,941,3922.9m $178.5m $178.5m 0.54% Added +1.4m +1,429,272
62 Haverford Trust Co 1.72% of their portfolio Radnor, PA 2,896,4452.9m $190.9m $190.9m 1.72% Reduced -74.3k -74,343
63 FIFTH THIRD BANCORP 0.61% of their portfolio CINCINNATI, OH 2,890,4752.9m $190.5m $190.5m 0.61% Added +198.6k +198,567
64 NORTHERN TRUST CORP 0.02% of their portfolio CHICAGO, IL 2,770,8962.8m $182.7m $182.7m 0.02% Reduced -28.4k -28,399
65 Federation des caisses Desjardins du Quebec 0.69% of their portfolio LEVIS, A8 2,656,4342.7m $175.1m $175.1m 0.69% Added +342.2k +342,195
66 MERCER GLOBAL ADVISORS INC /ADV 0.28% of their portfolio DENVER, CO 2,553,3152.6m $168.3m $168.3m 0.28% Added +1.4m +1,402,316
67 GRIMES & Co WEALTH MANAGEMENT, LLC 4.13% of their portfolio WESTBOROUGH, MA 2,539,3812.5m $167.4m $167.4m 4.13% Added +14.5k +14,470
68 DEUTSCHE BANK AG\ 0.06% of their portfolio FRANKFURT AM MAIN, 2M 2,521,6012.5m $166.2m $166.2m 0.06% Added +179.6k +179,634
69 Blue Trust, Inc. 1.84% of their portfolio BRENTWOOD, TN 2,484,5762.5m $163.8m $163.8m 1.84% Reduced -144.4k -144,437
70 Mirae Asset Global Investments Co., Ltd. 0.51% of their portfolio SEOUL, M5 2,478,2562.5m $163.4m $163.4m 0.51% Reduced -267.7k -267,687
71 Alesco Advisors, LLC, An ESL Co 4.34% of their portfolio Pittsford, NY 2,427,8972.4m $160.0m $160.0m 4.34% Reduced -83.4k -83,352
72 Venturi Wealth Management, LLC 7.38% of their portfolio AUSTIN, TX 2,412,3452.4m $159.0m $159.0m 7.38% Added +1.1m +1,068,396
73 COMMONWEALTH EQUITY SERVICES, LLC 0.21% of their portfolio WALTHAM, MA 2,403,6332.4m $158.4m $158.4m 0.21% Reduced -32.6k -32,562
74 Mill Creek Capital Advisors, LLC 3.23% of their portfolio Conshohocken, PA 2,378,0572.4m $156.8m $156.8m 3.23% Added +105.0k +104,996
75 Nuveen, LLC 0.04% of their portfolio CHARLOTTE, NC 2,358,8672.4m $155.5m $155.5m 0.04% Reduced -53.7k -53,686
76 Baird Financial Group, Inc. 0.24% of their portfolio MILWAUKEE, WI 2,289,0262.3m $150.9m $150.9m 0.24% Added +53.9k +53,899
77 HALBERT HARGROVE GLOBAL ADVISORS, LLC 7.29% of their portfolio LONG BEACH, CA 2,258,9192.3m $148.9m $148.9m 7.29% Added +29.9k +29,885
78 Hirtle & Co., LLC 5.15% of their portfolio WEST CONSHOHOCKEN, PA 2,222,8572.2m $146.5m $146.5m 5.15% Added +168.1k +168,055
79 SAGESPRING WEALTH PARTNERS, LLC 2.46% of their portfolio FRANKLIN, TN 2,201,6652.2m $125.7m $125.7m 2.46% Added +365.7k +365,717
80 Hackensack Meridian Health, Inc. 14.80% of their portfolio EDISON, NJ 2,185,0002.2m $144.0m $144.0m 14.80% Unchanged
81 MAI Capital Management 0.90% of their portfolio INDEPENDENCE, OH 2,181,0242.2m $143.8m $143.8m 0.90% Added +72.1k +72,058
82 Focus Partners Wealth 0.23% of their portfolio ST LOUIS, MO 2,167,1622.2m $142.9m $142.9m 0.23% Added +96.0k +95,973
83 Members Trust Co 4.68% of their portfolio TAMPA, FL 2,159,4022.2m $142.3m $142.3m 4.68% Reduced -16.2k -16,192
84 Balentine LLC 5.24% of their portfolio ATLANTA, GA 2,155,4042.2m $142.1m $142.1m 5.24% Added +2.1m +2,106,939
85 PARTNERS CAPITAL INVESTMENT GROUP, LLP 5.47% of their portfolio BOSTON, MA 2,087,5142.1m $137.6m $137.6m 5.47% Reduced -191.0k -190,970
86 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.11% of their portfolio Toronto, A6 2,040,0052.0m $134.5m $134.5m 0.11% Reduced -75.1k -75,123
87 NewEdge Advisors, LLC 0.61% of their portfolio NEW ORLEANS, LA 2,028,7012.0m $133.7m $133.7m 0.61% Added +461.3k +461,253
88 Quotient Wealth Partners, LLC 3.62% of their portfolio DALLAS, TX 2,002,9902.0m $132.0m $132.0m 3.62% Added +21.5k +21,481
89 Steward Partners Investment Advisory, LLC 0.73% of their portfolio STAMFORD, CT 1,939,8351.9m $127.9m $127.9m 0.73% Added +1.5m +1,486,290
90 Merit Financial Group, LLC 1.17% of their portfolio ALPHARETTA, GA 1,926,7891.9m $127.0m $127.0m 1.17% Added +551.6k +551,636
91 JONES FINANCIAL COMPANIES LLLP 0.09% of their portfolio DES PERES, MO 1,919,4691.9m $125.4m $125.4m 0.09% Added +145.7k +145,740
92 University of Pittsburgh - Of the Commonwealth System of Higher Education 99.75% of their portfolio PITTSBURGH, PA 1,901,0181.9m $125.3m $125.3m 99.75% Unchanged
93 Corient Private Wealth LP 0.19% of their portfolio MIAMI, FL 1,874,5861.9m $123.6m $123.6m 0.19% Added +114.6k +114,617
94 Elo Mutual Pension Insurance Co 2.02% of their portfolio ESPOO, H9 1,867,1001.9m $123.1m $123.1m 2.02% Unchanged
95 SOUTHERN FARM BUREAU LIFE INSURANCE 14.06% of their portfolio JACKSON, MS 1,813,7591.8m $119.2m $119.2m 14.06% Unchanged
96 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.18% of their portfolio PLYMOUTH, MN 1,797,5721.8m $120.0m $120.0m 0.18% Reduced -20.8k -20,844
97 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 2.34% of their portfolio Seattle, WA 1,766,8441.8m $116.5m $116.5m 2.34% Added +8.6k +8,550
98 AE Wealth Management LLC 0.73% of their portfolio TOPEKA, KS 1,747,7661.7m $115.2m $115.2m 0.73% Added +149.8k +149,849
99 JB Capital LLC 4.88% of their portfolio WETHERSFIELD, CT 1,715,5001.7m $113.1m $113.1m 4.88% Added +233.0k +233,012
100 LINCOLN NATIONAL CORP 3.22% of their portfolio RADNOR, PA 1,714,5661.7m $113.0m $113.0m 3.22% Reduced -115.1k -115,087