Vault-13

ISHARES INC IEMG

CORE MSCI EMKT · ETP · CUSIP 46434G103

2,231 institutional holders +254 vs Q3 2025
1,542,248,9721.5bn shares reported held*
$103.7bnreported value*
171 new 1,077 added 616 reduced 56 sold out net bought ≈ $4.4bn (+65.5m 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 ($252.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $67.21. Options: 4 managers hold calls ($5.2m notional), 2 hold puts ($1.5m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 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: 1,977Q4 25: 2,2312,231Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 20252,231

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ1 24: 704 bought or addedQ1 24: 871 cut or sold outQ2 24: 905 bought or addedQ2 24: 672 cut or sold outQ2 24Q3 24: 773 bought or addedQ3 24: 801 cut or sold outQ4 24: 937 bought or addedQ4 24: 691 cut or sold outQ4 24Q1 25: 963 bought or addedQ1 25: 767 cut or sold outQ2 25: 1,103 bought or addedQ2 25: 690 cut or sold outQ2 25Q3 25: 1,059 bought or addedQ3 25: 688 cut or sold outQ4 25: 1,248 bought or addedQ4 25: 672 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024704871
Q2 2024905672
Q3 2024773801
Q4 2024937691
Q1 2025963767
Q2 20251,103690
Q3 20251,059688
Q4 20251,248672

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ1 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 0.12Q4 25 calls: $5.2mQ4 25 puts: $1.5mQ4 25P/C 0.29
Numbers
QuarterCallsPutsP/C
Q1 2025$3.8m$86.4k0.02
Q2 2025$5.5m$240.1k0.04
Q3 2025$6.7m$815.7k0.12
Q4 2025$5.2m$1.5m0.29

Biggest buyers

WELLS FARGO & COMPANY/MN Added +19,214,929+19.2m
JONES FINANCIAL COMPANIES LLLP Added +16,649,206+16.6m
ENVESTNET ASSET MANAGEMENT INC Added +8,250,010+8.3m
BlackRock, Inc. Added +5,687,633+5.7m
LPL Financial LLC Added +5,465,951+5.5m
JANE STREET GROUP, LLC Added +4,790,558+4.8m
MORGAN STANLEY Added +3,977,053+4.0m
Bank of New York Mellon Corp Added +3,795,631+3.8m
FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND New +3,090,192+3.1m
AMERIPRISE FINANCIAL INC Added +2,578,693+2.6m

Biggest sellers

JPMORGAN CHASE & CO Reduced -44,715,593-44.7m
ROYAL BANK OF CANADA Reduced -3,643,793-3.6m
Invesco Ltd. Reduced -2,985,249-3.0m
GOLDMAN SACHS GROUP INC Reduced -2,623,492-2.6m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Sold out -2,040,005-2.0m
CITIGROUP INC Reduced -1,954,858-2.0m
NEPC LLC Reduced -1,405,539-1.4m
OLD MISSION CAPITAL LLC Sold out -1,229,625-1.2m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -1,175,538-1.2m
Kestra Investment Management, LLC Reduced -1,085,113-1.1m

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.7m69.3k shares
JANE STREET GROUP, LLC New $315.9k4.7k shares
CITADEL ADVISORS LLC Reduced $262.2k3.9k shares
GROUP ONE TRADING LLC Reduced $13.4k200 shares

Biggest puts

CITADEL ADVISORS LLC Added $1.1m16.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $410.0k6.1k 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/ 0.85% of their portfolio CHARLOTTE, NC 173,229,291173.2m $11.6bn $11.6bn 0.85% Added +2.3m +2,317,500
2 MORGAN STANLEY 0.41% of their portfolio NEW YORK, NY 102,793,787102.8m $6.9bn $6.9bn 0.41% Added +4.0m +3,977,053
3 ENVESTNET ASSET MANAGEMENT INC 1.56% of their portfolio Berwyn, PA 78,380,25878.4m $5.3bn $5.3bn 1.56% Added +8.3m +8,250,010
4 WELLS FARGO & COMPANY/MN 1.01% of their portfolio SAN FRANCISCO, CA 76,703,32076.7m $5.2bn $5.2bn 1.01% Added +19.2m +19,214,929
5 Creative Planning 3.67% of their portfolio OVERLAND PARK, KS 76,276,64276.3m $5.1bn $5.1bn 3.67% Added +1.2m +1,167,233
6 LPL Financial LLC 0.96% of their portfolio FORT MILL, SC 52,461,19952.5m $3.5bn $3.5bn 0.96% Added +5.5m +5,465,951
7 BlackRock, Inc. 0.06% of their portfolio New York, NY 49,411,89249.4m $3.3bn $3.3bn 0.06% Added +5.7m +5,687,633
8 JPMORGAN CHASE & CO 0.22% of their portfolio NEW YORK, NY 48,001,96348.0m $3.2bn $3.2bn 0.22% Reduced -44.7m -44,715,593
9 Wealthfront Advisers LLC 5.84% of their portfolio Palo Alto, CA 38,895,73438.9m $2.6bn $2.6bn 5.84% Added +1.3m +1,258,756
10 TIAA TRUST, NATIONAL ASSOCIATION 5.24% of their portfolio CHARLOTTE, NC 32,487,78832.5m $2.2bn $2.2bn 5.24% Reduced -162.3k -162,264
11 US BANCORP \DE\ 2.28% of their portfolio MINNEAPOLIS, MN 28,941,27728.9m $1.9bn $1.9bn 2.28% Added +529.3k +529,252
12 GOLDMAN SACHS GROUP INC 0.27% of their portfolio NEW YORK, NY 28,635,56428.6m $1.9bn $1.9bn 0.27% Reduced -2.6m -2,623,492
13 FMR LLC 0.08% of their portfolio BOSTON, MA 22,613,54822.6m $1.5bn $1.5bn 0.08% Added +2.2m +2,209,585
14 State of New Jersey Common Pension Fund D 5.48% of their portfolio TRENTON, NJ 22,561,00822.6m $1.5bn $1.5bn 5.48% Unchanged
15 RAYMOND JAMES FINANCIAL INC 0.41% of their portfolio ST. PETERSBURG, FL 19,550,57619.6m $1.3bn $1.3bn 0.41% Added +980.1k +980,118
16 JONES FINANCIAL COMPANIES LLLP 0.76% of their portfolio DES PERES, MO 18,568,67518.6m $1.2bn $1.2bn 0.76% Added +16.6m +16,649,206
17 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.78% of their portfolio MILWAUKEE, WI 18,337,02718.3m $1.2bn $1.2bn 0.78% Reduced -62.5k -62,486
18 WIT, LLC 22.03% of their portfolio DISTRICT OF COLUMBIA, DC 16,350,66516.4m $1.1bn $1.1bn 22.03% Reduced -167.0k -167,015
19 Bank of New York Mellon Corp 0.19% of their portfolio NEW YORK, NY 16,085,47316.1m $1.1bn $1.1bn 0.19% Added +3.8m +3,795,631
20 UBS Group AG 0.19% of their portfolio ZURICH, V8 14,387,27814.4m $967.1m $967.1m 0.19% Added +744.0k +744,050
21 PNC Financial Services Group, Inc. 0.50% of their portfolio Pittsburgh, PA 13,755,37713.8m $924.6m $924.6m 0.50% Added +465.4k +465,443
22 Envestnet Portfolio Solutions, Inc. 3.02% of their portfolio BERWYN, PA 12,804,81312.8m $860.7m $860.7m 3.02% Added +1.4m +1,387,943
23 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.11% of their portfolio SAN FRANCISCO, CA 10,817,58510.8m $727.2m $727.2m 0.11% Added +96.0k +96,028
24 M&T Bank Corp 2.10% of their portfolio BUFFALO, NY 9,739,3239.7m $654.7m $654.7m 2.10% Added +546.0k +546,047
25 CAPTRUST FINANCIAL ADVISORS 1.22% of their portfolio RALEIGH, NC 9,541,5889.5m $641.4m $641.4m 1.22% Added +1.0m +1,021,822
26 SEI INVESTMENTS CO 0.63% of their portfolio OAKS, PA 9,479,4769.5m $637.2m $637.2m 0.63% Added +29.9k +29,858
27 Cetera Investment Advisers 0.69% of their portfolio SCHAUMBURG, IL 9,358,8109.4m $629.1m $629.1m 0.69% Added +1.1m +1,123,947
28 ASSETMARK, INC 1.22% of their portfolio CONCORD, CA 8,930,1198.9m $600.3m $600.3m 1.22% Added +73.2k +73,233
29 Mariner, LLC 0.67% of their portfolio Overland Park, KS 8,338,1768.3m $560.5m $560.5m 0.67% Added +751.9k +751,944
30 ROYAL BANK OF CANADA 0.09% of their portfolio TORONTO, A6 7,682,8187.7m $516.4m $516.4m 0.09% Reduced -3.6m -3,643,793
31 Retirement Systems of Alabama 1.66% of their portfolio MONTGOMERY, AL 7,584,4317.6m $509.8m $509.8m 1.66% Unchanged
32 MML INVESTORS SERVICES, LLC 1.19% of their portfolio SPRINGFIELD, MA 7,290,9467.3m $490.1m $490.1m 1.19% Added +1.6m +1,632,797
33 Asset Management One Co., Ltd. 1.32% of their portfolio TOKYO, M0 7,041,7157.0m $473.3m $473.3m 1.32% Added +125.4k +125,403
34 BANK OF MONTREAL /CAN/ 0.19% of their portfolio TORONTO, A6 6,965,7017.0m $468.2m $468.2m 0.19% Added +319.5k +319,481
35 Jordan Park Group LLC 26.59% of their portfolio SAN FRANCISCO, CA 6,826,4486.8m $458.9m $458.9m 26.59% Added +34.5k +34,466
36 AMERIPRISE FINANCIAL INC 0.10% of their portfolio MINNEAPOLIS, MN 6,756,4286.8m $454.1m $454.1m 0.10% Added +2.6m +2,578,693
37 ALLIANCEBERNSTEIN L.P. 0.14% of their portfolio NASHVILLE, TN 6,749,3056.7m $453.7m $453.7m 0.14% Reduced -10.5k -10,512
38 Dynasty Wealth Management, LLC 4.45% of their portfolio ST. PETERSBURG, FL 6,740,2606.7m $453.1m $453.1m 4.45% Added +2.6m +2,555,569
39 TRUIST FINANCIAL CORP 0.60% of their portfolio CHARLOTTE, NC 6,649,5836.6m $447.0m $447.0m 0.60% Added +1.3m +1,288,762
40 Invesco Ltd. 0.04% of their portfolio ATLANTA, GA 6,484,3636.5m $435.9m $435.9m 0.04% Reduced -3.0m -2,985,249
41 PARK AVENUE SECURITIES LLC 3.60% of their portfolio NEW YORK, NY 6,317,0466.3m $424.6m $424.6m 3.60% Added +1.2m +1,205,412
42 Betterment LLC 0.76% of their portfolio NEW YORK, NY 5,912,3125.9m $397.4m $397.4m 0.76% Reduced -188.9k -188,893
43 CITIGROUP INC 0.26% of their portfolio NEW YORK, NY 5,772,8475.8m $388.1m $388.1m 0.26% Reduced -2.0m -1,954,858
44 CWM, LLC 1.04% of their portfolio OMAHA, NE 5,690,0885.7m $382.5m $382.5m 1.04% Added +1.3m +1,273,614
45 MONETA GROUP INVESTMENT ADVISORS LLC 2.88% of their portfolio ST LOUIS, MO 5,666,4985.7m $380.9m $380.9m 2.88% Added +150.8k +150,836
46 Cerity Partners LLC 0.52% of their portfolio NEW YORK, NY 5,286,0745.3m $355.4m $355.4m 0.52% Added +550.2k +550,226
47 Municipal Employees' Retirement System of Michigan 3.98% of their portfolio LANSING, MI 5,227,9985.2m $351.4m $351.4m 3.98% Added +454.9k +454,887
48 STIFEL FINANCIAL CORP 0.30% of their portfolio ST. LOUIS, MO 4,954,8635.0m $333.1m $333.1m 0.30% Added +389.5k +389,536
49 JANE STREET GROUP, LLC 0.38% of their portfolio NEW YORK, NY 4,794,5164.8m $322.3m $322.3m 0.38% Added +4.8m +4,790,558
50 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 4,399,8294.4m $295.8m $295.8m 0.01% Reduced -187.1k -187,147
51 Nationwide Fund Advisors 11.77% of their portfolio COLUMBUS, OH 4,090,1384.1m $274.9m $274.9m 11.77% Added +893.4k +893,391
52 Ballentine Partners, LLC 3.84% of their portfolio Waltham, MA 4,062,0034.1m $273.0m $273.0m 3.84% Reduced -124.3k -124,252
53 VANTAGEPOINT INVESTMENT ADVISERS LLC 2.19% of their portfolio WASHINGTON, DC 4,047,5174.0m $272.1m $272.1m 2.19% Added +164.8k +164,786
54 FRANKLIN RESOURCES INC 0.07% of their portfolio San Mateo, CA 3,947,5683.9m $265.4m $265.4m 0.07% Added +63.6k +63,592
55 Janney Montgomery Scott LLC 0.60% of their portfolio PHILADELPHIA, PA 3,901,2703.9m $262.2m $262.2m 0.60% Added +705.0k +704,984
56 Corient Private Wealth LP 0.17% of their portfolio MIAMI, FL 3,862,0953.9m $258.8m $258.8m 0.17% Added +2.0m +1,987,509
57 UNITED CAPITAL FINANCIAL ADVISORS, LLC 1.55% of their portfolio IRVING, TX 3,821,1803.8m $256.9m $256.9m 1.55% Added +316.9k +316,932
58 KEYBANK NATIONAL ASSOCIATION/OH 0.85% of their portfolio BROOKLYN, OH 3,540,2333.5m $238.0m $238.0m 0.85% Added +392.4k +392,427
59 Steward Partners Investment Advisory, LLC 1.21% of their portfolio STAMFORD, CT 3,285,4343.3m $220.8m $220.8m 1.21% Added +1.3m +1,345,599
60 Matson Money. Inc. 6.76% of their portfolio MASON, OH 3,182,0973.2m $213.9m $213.9m 6.76% Added +1.2k +1,231
61 Stairway Partners, LLC 11.04% of their portfolio MINNEAPOLIS, MN 3,173,6883.2m $213.3m $213.3m 11.04% Reduced -350.0k -349,977
62 FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND 1.74% of their portfolio STOCKHOLM, V7 3,090,1923.1m $207.7m $207.7m 1.74% New
63 FIFTH THIRD BANCORP 0.65% of their portfolio CINCINNATI, OH 3,064,6743.1m $206.0m $206.0m 0.65% Added +174.2k +174,199
64 Japan Science & Technology Agency 3.77% of their portfolio TOKYO, M0 3,050,5543.1m $205.1m $205.1m 3.77% Added +2.0m +1,956,084
65 OSAIC HOLDINGS, INC. 0.30% of their portfolio SCOTTSDALE, AZ 3,048,5183.0m $205.0m $205.0m 0.30% Reduced -340.9k -340,926
66 HighTower Advisors, LLC 0.22% of their portfolio CHICAGO, IL 2,999,6473.0m $201.6m $201.6m 0.22% Reduced -95.9k -95,906
67 OpenArc Corporate Advisory, LLC 3.29% of their portfolio ATLANTA, GA 2,961,3363.0m $199.1m $199.1m 3.29% First filing
68 Valeo Financial Advisors, LLC 4.38% of their portfolio CARMEL, IN 2,930,2302.9m $197.0m $197.0m 4.38% Reduced -31.7k -31,742
69 NORTHERN TRUST CORP 0.02% of their portfolio CHICAGO, IL 2,899,3882.9m $194.9m $194.9m 0.02% Added +128.5k +128,492
70 Haverford Trust Co 1.73% of their portfolio Radnor, PA 2,882,4522.9m $193.8m $193.8m 1.73% Reduced -14.0k -13,993
71 COMMONWEALTH EQUITY SERVICES, LLC 0.25% of their portfolio WALTHAM, MA 2,826,7732.8m $190.0m $190.0m 0.25% Added +423.1k +423,140
72 Focus Partners Wealth 0.21% of their portfolio ST LOUIS, MO 2,801,9242.8m $187.7m $187.7m 0.21% Added +634.8k +634,762
73 Merit Financial Group, LLC 1.39% of their portfolio ALPHARETTA, GA 2,584,8202.6m $173.8m $173.8m 1.39% Added +658.0k +658,031
74 DEUTSCHE BANK AG\ 0.06% of their portfolio FRANKFURT AM MAIN, 2M 2,553,4442.6m $171.6m $171.6m 0.06% Added +31.8k +31,843
75 GRIMES & Co WEALTH MANAGEMENT, LLC 4.09% of their portfolio WESTBOROUGH, MA 2,545,4172.5m $171.1m $171.1m 4.09% Added +6.0k +6,036
76 Blue Trust, Inc. 1.87% of their portfolio BRENTWOOD, TN 2,464,4052.5m $165.7m $165.7m 1.87% Reduced -20.2k -20,171
77 Mirae Asset Global Investments Co., Ltd. 0.46% of their portfolio SEOUL, M5 2,460,8412.5m $165.4m $165.4m 0.46% Reduced -17.4k -17,415
78 NewEdge Advisors, LLC 0.59% of their portfolio NEW ORLEANS, LA 2,423,5352.4m $162.9m $162.9m 0.59% Added +394.8k +394,834
79 Baird Financial Group, Inc. 0.25% of their portfolio MILWAUKEE, WI 2,413,3732.4m $162.2m $162.2m 0.25% Added +124.3k +124,347
80 SAGESPRING WEALTH PARTNERS, LLC 2.59% of their portfolio FRANKLIN, TN 2,412,5842.4m $142.3m $142.3m 2.59% Added +210.9k +210,919
81 Mill Creek Capital Advisors, LLC 3.28% of their portfolio Conshohocken, PA 2,392,7052.4m $160.8m $160.8m 3.28% Added +14.6k +14,648
82 Alesco Advisors, LLC, An ESL Co 4.11% of their portfolio Pittsford, NY 2,364,6932.4m $159.0m $159.0m 4.11% Reduced -63.2k -63,204
83 Federation des caisses Desjardins du Quebec 0.60% of their portfolio LEVIS, A8 2,338,7332.3m $157.2m $157.2m 0.60% Reduced -317.7k -317,701
84 MERCER GLOBAL ADVISORS INC /ADV 0.24% of their portfolio DENVER, CO 2,329,3842.3m $156.6m $156.6m 0.24% Reduced -223.9k -223,931
85 Hirtle & Co., LLC 5.22% of their portfolio WEST CONSHOHOCKEN, PA 2,280,7082.3m $153.3m $153.3m 5.22% Added +57.9k +57,851
86 HALBERT HARGROVE GLOBAL ADVISORS, LLC 7.31% of their portfolio LONG BEACH, CA 2,271,5022.3m $152.7m $152.7m 7.31% Added +12.6k +12,583
87 MAI Capital Management 0.88% of their portfolio INDEPENDENCE, OH 2,262,8982.3m $152.1m $152.1m 0.88% Added +81.9k +81,874
88 JB Capital LLC 6.09% of their portfolio WETHERSFIELD, CT 2,219,5762.2m $149.2m $149.2m 6.09% Added +504.1k +504,076
89 Balentine LLC 5.63% of their portfolio ATLANTA, GA 2,208,7832.2m $148.5m $148.5m 5.63% Added +53.4k +53,379
90 Hackensack Meridian Health, Inc. 13.39% of their portfolio EDISON, NJ 2,185,0002.2m $146.9m $146.9m 13.39% Unchanged
91 Foundations Investment Advisors, LLC 1.88% of their portfolio PHOENIX, AZ 2,131,4712.1m $143.3m $143.3m 1.88% Added +597.2k +597,158
92 Members Trust Co 4.65% of their portfolio TAMPA, FL 2,122,4692.1m $142.7m $142.7m 4.65% Reduced -36.9k -36,933
93 Nuveen, LLC 0.04% of their portfolio CHARLOTTE, NC 2,117,2632.1m $142.3m $142.3m 0.04% Reduced -241.6k -241,604
94 PARTNERS CAPITAL INVESTMENT GROUP, LLP 5.30% of their portfolio BOSTON, MA 2,114,0822.1m $142.1m $142.1m 5.30% Added +26.6k +26,568
95 SOUTHERN FARM BUREAU LIFE INSURANCE 13.64% of their portfolio JACKSON, MS 1,964,2592.0m $132.1m $132.1m 13.64% Added +150.5k +150,500
96 Quotient Wealth Partners, LLC 3.51% of their portfolio DALLAS, TX 1,960,0872.0m $131.8m $131.8m 3.51% Reduced -42.9k -42,903
97 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 2.34% of their portfolio Seattle, WA 1,941,7441.9m $130.5m $130.5m 2.34% Added +174.9k +174,900
98 University of Pittsburgh - Of the Commonwealth System of Higher Education 99.81% of their portfolio PITTSBURGH, PA 1,933,8381.9m $130.0m $130.0m 99.81% Added +32.8k +32,820
99 Sanctuary Advisors, LLC 0.71% of their portfolio INDIANAPOLIS, IN 1,920,6441.9m $129.1m $129.1m 0.71% Reduced -1.0m -1,020,748
100 BESSEMER GROUP INC 0.20% of their portfolio WOODBRIDGE, NJ 1,903,7951.9m $128.0m $128.0m 0.20% Added +319.9k +319,867