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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
HCM
2001
Horrell Capital Management
Arkansas
$8.49K – – –
HC
2002
Hara Capital
Washington
$8.13K – – –
PCFFS
2003
Pacific Center for Financial Services
California
$7.96K – – –
MAFA
2004
MJT & Associates Financial Advisory
Minnesota
$7.91K – – –
AP
2005
Atwood & Palmer
Missouri
$7.51K – – –
LWA
2006
Lowe Wealth Advisors
Maryland
$6.88K – – –
LI
2007
Louisbourg Investments
New Brunswick, Canada
$6.7K – – –
PWM
2008
Provident Wealth Management
Tennessee
$6.26K -$85 -1 -1%
PIS
2009
POM Investment Strategies
North Carolina
$6.26K – – –
TIM
2010
Thompson Investment Management
Wisconsin
$5.54K – – –
FLFS
2011
Family Legacy Financial Solutions
North Carolina
$5.36K +$5.12K +60 New
KG
2012
Kilter Group
New York
$4.83K +$4.61K +54 New
TAM
2013
Tucker Asset Management
Colorado
$4.02K -$13.2K -155 -78%
CFP
2014
Comprehensive Financial Planning
Pennsylvania
$3.96K +$85 +1 +2%
PCA
2015
Providence Capital Advisors
North Carolina
$3.84K +$3.67K +43 New
Allianz Asset Management
2016
Allianz Asset Management
Germany
$3.13K -$683 -8 -19%
PCA
2017
PMV Capital Advisers
Texas
$2.23K +$2.13K +25 New
OCM
2018
Orion Capital Management
California
$2.15K +$2.05K +24 New
OP
2019
ORG Partners
Indiana
$1.96K -$71.6K -839 -97%
NWM
2020
Nova Wealth Management
Florida
$1.7K +$1.62K +19 New
FDW
2021
Fourth Dimension Wealth
Ohio
$1.55K – – –
RS
2022
Rakuten Securities
Japan
$894 +$342 +4 +67%
RFG
2023
REAP Financial Group
Texas
$358 – – –
1NWS
2024
1 North Wealth Services
Maryland
$111 -$85 -1 -50%
TFA
2025
Transamerica Financial Advisors
Florida
$98 – – –
79 80
81
82 83

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.