Vault-13

VANECK ETF TRUST EMLC

JP MRGAN EM LOC · ETP · CUSIP 92189H300

331 institutional holders +66 vs Q3 2025
108,448,282108.4m shares reported held*
$2.8bnreported value*
86 new 128 added 61 reduced 33 sold out net bought ≈ $235.3m (+9.2m 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 ($25.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $25.80. Options: 1 managers hold calls ($4.2m notional), 0 hold puts (—).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 197Q4 22: 229Q1 23: 233Q2 23: 245Q3 23: 244Q4 23: 270Q1 24: 251Q2 24: 233Q3 24: 238Q4 24: 236Q1 25: 248Q2 25: 257Q3 25: 265Q4 25: 331331Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022197
Q4 2022229
Q1 2023233
Q2 2023245
Q3 2023244
Q4 2023270
Q1 2024251
Q2 2024233
Q3 2024238
Q4 2024236
Q1 2025248
Q2 2025257
Q3 2025265
Q4 2025331

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 24: 109 bought or addedQ1 24: 127 cut or sold outQ2 24: 106 bought or addedQ2 24: 107 cut or sold outQ2 24Q3 24: 109 bought or addedQ3 24: 105 cut or sold outQ4 24: 109 bought or addedQ4 24: 103 cut or sold outQ4 24Q1 25: 136 bought or addedQ1 25: 104 cut or sold outQ2 25: 142 bought or addedQ2 25: 116 cut or sold outQ2 25Q3 25: 157 bought or addedQ3 25: 101 cut or sold outQ4 25: 214 bought or addedQ4 25: 94 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024109127
Q2 2024106107
Q3 2024109105
Q4 2024109103
Q1 2025136104
Q2 2025142116
Q3 2025157101
Q4 202521494

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ1 25 calls: $9.8mQ1 25 puts: $12.0kQ1 25P/C 0.00Q2 25 calls: $10.0mQ2 25 puts: $360.0kQ2 25P/C 0.04Q3 25 calls: $4.7mQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $4.2mQ4 25 puts: $0Q4 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q1 2025$9.8m$12.0k0.00
Q2 2025$10.0m$360.0k0.04
Q3 2025$4.7m$00.00
Q4 2025$4.2m$00.00

Biggest buyers

PAYDEN & RYGEL New +2,435,462+2.4m
FMR LLC Added +2,151,040+2.2m
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +1,862,996+1.9m
ENVESTNET ASSET MANAGEMENT INC Added +1,336,040+1.3m
HSBC HOLDINGS PLC Added +1,145,169+1.1m
TIAA TRUST, NATIONAL ASSOCIATION Added +911,546+911.5k
DEUTSCHE BANK AG\ Added +771,400+771.4k
BANK OF AMERICA CORP /DE/ Added +749,636+749.6k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +729,448+729.4k
LPL Financial LLC Added +705,578+705.6k

Biggest sellers

MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -3,692,442-3.7m
D. E. Shaw & Co., Inc. Sold out -1,908,032-1.9m
BlackRock, Inc. Reduced -1,748,370-1.7m
NEUBERGER BERMAN GROUP LLC Reduced -1,492,313-1.5m
JPMORGAN CHASE & CO Reduced -1,216,254-1.2m
BNP PARIBAS FINANCIAL MARKETS Reduced -814,787-814.8k
Empowered Funds, LLC Reduced -441,358-441.4k
BANK OF NOVA SCOTIA Sold out -400,000-400.0k
NATIONAL BANK OF CANADA /FI/ Reduced -308,882-308.9k
WELLINGTON MANAGEMENT GROUP LLP Sold out -305,450-305.4k

Biggest calls

SIMPLEX TRADING, LLC Reduced $4.2m32.4k shares

Biggest puts

None

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 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.06% of their portfolio SAN FRANCISCO, CA 15,016,49215.0m $387.7m $387.7m 0.06% Added +1.9m +1,862,996
2 SEI INVESTMENTS CO 0.24% of their portfolio OAKS, PA 9,286,8429.3m $239.8m $239.8m 0.24% Added +397.6k +397,550
3 ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORP 5.07% of their portfolio Altamonte Springs, FL 6,595,1896.6m $170.3m $170.3m 5.07% Added +656.5k +656,489
4 Valmark Advisers, Inc. 1.41% of their portfolio AKRON, OH 4,419,1784.4m $114.1m $114.1m 1.41% Added +149.8k +149,841
5 Varma Mutual Pension Insurance Co 0.48% of their portfolio Varma, H9 3,100,0003.1m $80.0m $80.0m 0.48% Unchanged
6 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,990,7013.0m $77.2m $77.2m 0.00% Reduced -1.7m -1,748,370
7 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 2,967,7373.0m $76.6m $76.6m 0.02% Added +1.3m +1,336,040
8 Ocean Park Asset Management, LLC 3.37% of their portfolio SANTA MONICA, CA 2,776,4822.8m $71.7m $71.7m 3.37% Added +529.9k +529,935
9 Asset Management One Co., Ltd. 0.19% of their portfolio TOKYO, M0 2,705,9952.7m $69.7m $69.7m 0.19% Reduced -9.9k -9,900
10 NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio NEW YORK, NY 2,655,0682.7m $68.6m $68.6m 0.05% Reduced -1.5m -1,492,313
11 UBS Group AG 0.01% of their portfolio ZURICH, V8 2,641,6422.6m $68.2m $68.2m 0.01% Added +235.2k +235,229
12 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,546,1222.5m $65.7m $65.7m 0.00% Reduced -158.0k -157,999
13 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,512,5452.5m $64.9m $64.9m 0.00% Added +749.6k +749,636
14 PAYDEN & RYGEL 4.37% of their portfolio LOS ANGELES, CA 2,435,4622.4m $62.9m $62.9m 4.37% New
15 FMR LLC 0.00% of their portfolio BOSTON, MA 2,305,2082.3m $59.5m $59.5m 0.00% Added +2.2m +2,151,040
16 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 2,298,2102.3m $59.3m $59.3m 0.02% Added +1.1m +1,145,169
17 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 2,098,7572.1m $54.2m $54.2m 0.01% Added +130.3k +130,266
18 TIAA TRUST, NATIONAL ASSOCIATION 0.12% of their portfolio CHARLOTTE, NC 1,953,2512.0m $50.4m $50.4m 0.12% Added +911.5k +911,546
19 1832 Asset Management L.P. 0.06% of their portfolio TORONTO, A6 1,936,6761.9m $50.0m $50.0m 0.06% Reduced -9.5k -9,518
20 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 1,489,7331.5m $38.5m $38.5m 0.02% Added +197.2k +197,165
21 VIEWPOINT INVESTMENT PARTNERS CORP 16.64% of their portfolio CALGARY, A0 1,353,7001.4m $35.0m $35.0m 16.64% Reduced -53.6k -53,600
22 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 1,230,0821.2m $31.8m $31.8m 0.01% Added +2.1k +2,088
23 TORONTO DOMINION BANK 0.05% of their portfolio TORONTO, ONTARIO, A6 1,200,0001.2m $31.0m $31.0m 0.05% Added +600.0k +600,000
24 Federation des caisses Desjardins du Quebec 0.11% of their portfolio LEVIS, A8 1,146,2711.1m $29.6m $29.6m 0.11% Reduced -13.3k -13,256
25 EVERGREEN CAPITAL MANAGEMENT LLC 0.62% of their portfolio Bellevue, WA 1,078,3171.1m $27.8m $27.8m 0.62% Added +19.6k +19,574
26 PARK AVENUE SECURITIES LLC 0.23% of their portfolio NEW YORK, NY 1,034,2531.0m $26.7m $26.7m 0.23% Added +93.7k +93,665
27 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,026,6611.0m $26.5m $26.5m 0.01% Added +705.6k +705,578
28 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,018,8691.0m $26.3m $26.3m 0.00% Added +122.9k +122,889
29 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 890,914890.9k $23.0m $23.0m 0.01% Added +259.3k +259,302
30 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 814,487814.5k $21.0m $21.0m 0.01% Added +771.4k +771,400
31 Checchi Capital Advisers, LLC 1.40% of their portfolio BEVERLY HILLS, CA 794,627794.6k $20.5m $20.5m 1.40% Reduced -2.7k -2,663
32 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 779,278779.3k $20.1m $20.1m 0.00% Reduced -9.2k -9,221
33 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 729,448729.4k $18.8m $18.8m 0.00% New
34 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 656,874656.9k $17.0m $17.0m 0.01% Reduced -814.8k -814,787
35 Insight Wealth Strategies, LLC 1.89% of their portfolio SAN RAMON, CA 637,239637.2k $16.5m $16.5m 1.89% New
36 New Harbor Financial Group, LLC 2.82% of their portfolio WORCESTER, MA 596,008596.0k $15.4m $15.4m 2.82% Added +41.7k +41,666
37 ASSETMARK, INC 0.03% of their portfolio CONCORD, CA 572,025572.0k $14.8m $14.8m 0.03% Added +243.0k +242,979
38 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 546,209546.2k $14.1m $14.1m 0.01% Reduced -308.9k -308,882
39 ALM First Financial Advisors, LLC 2.70% of their portfolio DALLAS, TX 527,748527.7k $13.6m $13.6m 2.70% Unchanged
40 Madison Asset Management, LLC 0.15% of their portfolio MADISON, WI 511,961512.0k $13.2m $13.2m 0.15% New
41 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 508,651508.7k $13.1m $13.1m 0.01% Added +370.1k +370,102
42 NOMURA ASSET MANAGEMENT CO LTD 0.03% of their portfolio TOKYO, M0 478,577478.6k $12.4m $12.4m 0.03% Added +393.4k +393,352
43 NewEdge Advisors, LLC 0.04% of their portfolio NEW ORLEANS, LA 475,295475.3k $12.3m $12.3m 0.04% Added +6.0k +5,996
44 Beacon Pointe Advisors, LLC 0.08% of their portfolio NEWPORT BEACH, CA 449,976450.0k $11.6m $11.6m 0.08% Added +21.4k +21,450
45 CENTRAL TRUST Co 0.21% of their portfolio JEFFERSON CITY, MO 422,630422.6k $10.9m $10.9m 0.21% Added +39.4k +39,380
46 GUGGENHEIM CAPITAL LLC 0.08% of their portfolio CHICAGO, IL 411,029411.0k $10.6m $10.6m 0.08% Added +40.8k +40,819
47 Whitcomb & Hess, Inc. 2.47% of their portfolio ASHLAND, OH 403,431403.4k $10.5m $10.5m 2.47% Added +26.4k +26,374
48 Vestmark Advisory Solutions, Inc. 0.14% of their portfolio Wakefield, MA 402,437402.4k $10.4m $10.4m 0.14% New
49 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 388,213388.2k $10.0m $10.0m 0.01% Reduced -72.3k -72,283
50 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 383,634383.6k $9.9m $9.9m 0.01% Added +17.8k +17,829
51 Calamos Advisors LLC 0.04% of their portfolio NAPERVILLE, IL 383,000383.0k $9.9m $9.9m 0.04% New
52 Pekin Hardy Strauss, Inc. 0.91% of their portfolio CHICAGO, IL 381,457381.5k $9.8m $9.8m 0.91% Added +48.2k +48,184
53 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 373,488373.5k $9.6m $9.6m 0.01% Reduced -3.7m -3,692,442
54 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 346,403346.4k $8.9m $8.9m 0.02% Added +186.1k +186,112
55 CUTLER INVESTMENT COUNSEL LLC 0.90% of their portfolio Jacksonville, OR 336,869336.9k $8.7m $8.7m 0.90% Added +9.3k +9,267
56 ACIMA PRIVATE WEALTH, LLC 2.59% of their portfolio RICHMOND, VA 323,432323.4k $8.4m $8.4m 2.59% Added +23.9k +23,905
57 VPR Management LLC 3.64% of their portfolio HOUSTON, TX 316,200316.2k $8.2m $8.2m 3.64% Unchanged
58 Ethos Financial Group, LLC 0.57% of their portfolio KING OF PRUSSIA, PA 296,407296.4k $7.7m $7.7m 0.57% Added +279.7k +279,680
59 INTEGRATED CAPITAL MANAGEMENT, INC. 4.68% of their portfolio JESSUP, PA 272,547272.5k $7.0m $7.0m 4.68% Added +14.6k +14,632
60 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 259,345259.3k $6.7m $6.7m 0.01% Added +189.4k +189,406
61 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 247,237247.2k $6.4m $6.4m 0.01% Added +321 +321
62 OPPENHEIMER & CO INC 0.09% of their portfolio NEW YORK, NY 243,373243.4k $6.3m $6.3m 0.09% Reduced -144 -144
63 Cambria Investment Management, L.P. 0.36% of their portfolio Manhattan Beach, CA 237,208237.2k $6.1m $6.1m 0.36% Added +2.9k +2,857
64 Almanack Investment Partners, LLC. 1.01% of their portfolio WAYNE, PA 229,126229.1k $5.9m $5.9m 1.01% Added +4.9k +4,938
65 Envestnet Portfolio Solutions, Inc. 0.02% of their portfolio BERWYN, PA 224,666224.7k $5.8m $5.8m 0.02% Added +190.2k +190,151
66 Waterloo Capital, L.P. 0.41% of their portfolio AUSTIN, TX 218,905218.9k $5.7m $5.7m 0.41% Added +110.2k +110,237
67 Avos Capital Management, LLC 2.44% of their portfolio SEATTLE, WA 216,617216.6k $5.6m $5.6m 2.44% Added +1.9k +1,944
68 Capital Investment Advisors, LLC 0.08% of their portfolio ATLANTA, GA 214,054214.1k $5.5m $5.5m 0.08% Added +15.0k +14,967
69 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 206,163206.2k $5.3m $5.3m 0.01% Reduced -13.2k -13,150
70 Collaborative Wealth Managment Inc. 1.79% of their portfolio LAKE MARY, FL 196,973197.0k $5.1m $5.1m 1.79% Added +11.4k +11,406
71 rebel Financial LLC 2.03% of their portfolio GROVEPORT, OH 183,684183.7k $4.7m $4.7m 2.03% Added +183.7k +183,684
72 Steward Partners Investment Advisory, LLC 0.03% of their portfolio STAMFORD, CT 182,401182.4k $4.7m $4.7m 0.03% Reduced -7.5k -7,476
73 Lake Hills Wealth Management, LLC 2.36% of their portfolio AUSTIN, TX 174,826174.8k $4.5m $4.5m 2.36% Added +92.1k +92,078
74 Upper Left Wealth Management, LLC 2.55% of their portfolio TAMPA, FL 162,253162.3k $4.2m $4.2m 2.55% Added +5.3k +5,263
75 COMERICA BANK 0.02% of their portfolio DALLAS, TX 161,016161.0k $4.2m $4.2m 0.02% Added +24.7k +24,676
76 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 159,395159.4k $4.1m $4.1m 0.01% Added +17.9k +17,872
77 Empowered Funds, LLC 0.07% of their portfolio NEWTOWN SQUARE, PA 158,709158.7k $4.1m $4.1m 0.07% Reduced -441.4k -441,358
78 NKCFO LLC 1.14% of their portfolio GENEVA, IL 153,100153.1k $4.0m $4.0m 1.14% Unchanged
79 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 151,322151.3k $3.9m $3.9m 0.00% Reduced -1.2m -1,216,254
80 ELEVATION POINT WEALTH PARTNERS, LLC 0.18% of their portfolio DENVER, CO 147,351147.4k $3.8m $3.8m 0.18% New
81 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 143,483143.5k $3.7m $3.7m 0.00% Added +116.1k +116,098
82 Clark Capital Management Group, Inc. 0.02% of their portfolio PHILADELPHIA, PA 142,459142.5k $3.7m $3.7m 0.02% Added +3.0k +2,972
83 Merit Financial Group, LLC 0.03% of their portfolio ALPHARETTA, GA 141,042141.0k $3.6m $3.6m 0.03% Added +3.8k +3,774
84 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 134,007134.0k $3.5m $3.5m 0.01% Added +59.3k +59,268
85 Crabel Capital Management, LLC 2.58% of their portfolio MILWAUKEE, WI 132,377132.4k $3.4m $3.4m 2.58% Added +33.4k +33,410
86 Kelly Financial Services LLC 0.84% of their portfolio BRAINTREE, MA 129,435129.4k $3.3m $3.3m 0.84% New
87 FSA Advisors, Inc. 0.09% of their portfolio TROY, MI 127,520127.5k $132.2k $132.2k 0.09% New
88 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 120,833120.8k $3.1m $3.1m 0.00% Added +2.9k +2,886
89 FIDELITY D & D BANCORP INC 1.31% of their portfolio Dunmore, PA 117,100117.1k $3.0m $3.0m 1.31% Added +16.0k +15,956
90 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 113,152113.2k $2.9m $2.9m 0.00% Added +35.4k +35,399
91 SBI Okasan Asset Management Co.Ltd. 0.15% of their portfolio TOKYO, M0 108,931108.9k $2.8m $2.8m 0.15% First filing
92 EXCHANGE TRADED CONCEPTS, LLC 0.02% of their portfolio Oklahoma City, OK 104,882104.9k $2.7m $2.7m 0.02% Added +62.4k +62,435
93 Bleakley Financial Group, LLC 0.05% of their portfolio PARSIPPANY, NJ 102,169102.2k $2.6m $2.6m 0.05% Added +37.0k +36,973
94 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 102,115102.1k $2.6m $2.6m 0.00% Added +8.0k +8,017
95 RHS Financial, LLC 1.25% of their portfolio SAN FRANCISCO, CA 99,28899.3k $2.6m $2.6m 1.25% Added +3.4k +3,350
96 Ackerman Capital Advisors, LLC 0.50% of their portfolio DALLAS, TX 96,69696.7k $2.5m $2.5m 0.50% New
97 WealthPlan Investment Management, LLC 0.15% of their portfolio OMAHA, NE 90,92490.9k $2.3m $2.3m 0.15% New
98 Martel Wealth Advisors LLC 0.38% of their portfolio VANCOUVER, WA 85,85285.9k $2.2m $2.2m 0.38% Added +25 +25
99 Veery Capital, LLC 0.67% of their portfolio Wilmington, DE 84,62084.6k $2.2m $2.2m 0.67% Added +946 +946
100 Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio SEOUL, M5 84,47884.5k $2.2m $2.2m 0.01% Added +6.5k +6,478