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iShares MSCI EAFE ETF
EFA

2,025 hedge funds and large institutions have $51.7B invested in iShares MSCI EAFE ETF in 2025 Q2 according to their latest regulatory filings, with 176 funds opening new positions, 799 increasing their positions, 680 reducing their positions, and 76 closing their positions.

New
Increased
Maintained
Reduced
Closed

132% more first-time investments, than exits

New positions opened: 176 | Existing positions closed: 76

18% more repeat investments, than reductions

Existing positions increased: 799 | Existing positions reduced: 680

15% more funds holding in top 10

Funds holding in top 10: 156 → 179 (+23)

10% more capital invested

Capital invested by funds: $47.1B → $51.7B (+$4.51B)

3% more funds holding

Funds holding: 1,959 → 2,025 (+66)

1.91% less ownership

Funds ownership: 81.93% → 80.02% (-1.9%)

21% less call options, than puts

Call options by funds: $5.04B | Put options by funds: $6.4B

Holders
2,025
Holders Change
+66
Holders Change %
+3.37%
% of All Funds
26.66%
Holding in Top 10
179
Holding in Top 10 Change
+23
Holding in Top 10 Change %
+14.74%
% of All Funds
2.36%
New
176
Increased
799
Reduced
680
Closed
76
Calls
$5.04B
Puts
$6.4B
Net Calls
-$1.36B
Net Calls Change
-$501M

Top Buyers

Rank Fund Capital Flow
1
CA
Cambridge Associates
Massachusetts
+$300M
2
Jane Street
Jane Street
New York
+$275M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$207M
4
State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System
Florida
+$200M
5
BOTOTLSJU
Board of Trustees of The Leland Stanford Junior University
California
+$197M

Top Sellers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
-$1.88B
2
Morgan Stanley
Morgan Stanley
New York
-$297M
3
Goldman Sachs
Goldman Sachs
New York
-$172M
4
Citigroup
Citigroup
New York
-$115M
5
SG Americas Securities
SG Americas Securities
New York
-$100M
Name Holding Trade Value Shares
Change 		Change in
Stake
FAB
1326
First American Bank
Illinois
$653K – – –
CPC
1327
Consolidated Planning Corp
Georgia
$652K +$169K +1,979 +37%
PWA
1328
Physician Wealth Advisors
Utah
$651K -$101K -1,186 -14%
SS
1329
Sunbelt Securities
Texas
$649K +$171 +2 +0%
ARA
1330
Alexander Randolph Advisory
Virginia
$649K +$157K +1,835 +34%
AA
1331
Altman Advisors
Illinois
$646K -$20.3K -238 -3%
TT
1332
TI-Trust
Illinois
$643K -$5.12K -60 -0.8%
ACM
1333
Armbruster Capital Management
New York
$642K -$427 -5 -0.1%
IFO
1334
Independent Family Office
New York
$641K +$612K +7,174 New
FPCG
1335
Forum Private Client Group
Indiana
$641K -$29.4K -344 -5%
BST
1336
Bath Savings Trust
Maine
$640K +$75.1K +880 +14%
GWMR
1337
GC Wealth Management RIA
Massachusetts
$638K -$161K -1,887 -21%
OC
1338
Oarsman Capital
Wisconsin
$637K – – –
HW
1339
HORAN Wealth
Ohio
$634K +$605K +7,092 New
CCM
1340
Causeway Capital Management
California
$631K +$53.2K +623 +10%
MRP
1341
Measured Risk Portfolios
California
$628K +$1.71K +20 +0.3%
GCM
1342
Gallacher Capital Management
Colorado
$628K +$31.5K +369 +6%
CWM
1343
Cordatus Wealth Management
Pennsylvania
$628K +$236K +2,765 +65%
AC
1344
AWM Capital
Arizona
$626K – – –
AIM
1345
Anchor Investment Management
South Carolina
$624K – – –
WPA
1346
Wealth Preservation Advisors
Tennessee
$624K +$2.05K +24 +0.3%
CFS
1347
CGC Financial Services
Oregon
$623K – – –
AAM
1348
Austin Asset Management
Texas
$621K – – –
SHF
1349
Stage Harbor Financial
Massachusetts
$620K +$592K +6,934 New
SCA
1350
Sage Capital Advisors
South Dakota
$619K -$20.4K -239 -3%
52 53
54
55 56

EFA Hedge Fund Activity: Q2 2025 in Review

2,025 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI EAFE ETF (EFA) for Q2 2025, worth a combined $51.7B — up 9.6% from $47.1B a quarter earlier.

Buyers outnumbered sellers: 176 funds opened new EFA positions and 76 closed out — a net gain of 100 holders — while 799 added to existing stakes and 680 trimmed.

The largest buyer was Cambridge Associates, opening a new position worth an estimated $300M. The largest seller was BlackRock, cutting an estimated $1.88B.

  • 2,025 institutional investors held iShares MSCI EAFE ETF (EFA) as of Q2 2025, up from 1,959 in Q1 2025.
  • Funds reported $51.7B of iShares MSCI EAFE ETF stock for Q2 2025, up 9.6% quarter-over-quarter.
  • 176 funds opened new iShares MSCI EAFE ETF positions in Q2 2025 and 76 closed out, a net change of +100 holders.
  • The largest iShares MSCI EAFE ETF buyer in Q2 2025 was Cambridge Associates, an estimated $300M added.
  • The largest iShares MSCI EAFE ETF seller in Q2 2025 was BlackRock, an estimated $1.88B sold.

Based on aggregated 13F filings for Q2 2025.