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iShares MSCI EAFE ETF

EFA

Market cap $78.5B

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

Calls

$5.04B

Puts

$6.4B

Net Calls

-$1.36B

Net Calls Change

-$501M

Top Buyers

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

Top Sellers

Rank	Fund	Capital Flow
1	BlackRock New York	-$1.88B
2	Morgan Stanley New York	-$297M
3	Goldman Sachs New York	-$172M
4	Citigroup New York	-$115M
5	SG Americas Securities New York	-$100M

#	Name	Holding	Trade Value	Shares Change	Change in Stake
1	1 BlackRock New York	$8.43B	-$1.88B	-22,038,809	-19%
2	2 Bank of America Charlotte, North Carolina	$3.24B	-$38.8M	-454,992	-1%
3	3 Goldman Sachs New York	$3.06B	-$172M	-2,018,140	-6%
4	4 Morgan Stanley New York	$2.08B	-$297M	-3,482,875	-13%
5	5 JP Morgan Chase New York	$1.9B	-$66.1M	-774,504	-4%
6	6 Northern Trust Chicago, Illinois	$1.87B	+$51.1M	+598,195	+3%
7	7 Wells Fargo San Francisco, California	$1.36B	+$56.6M	+662,715	+5%
8	NMIMC 8 Northwestern Mutual Investment Management Company Milwaukee, Wisconsin	$1.22B	-$37.2M	-435,505	-3%
9	9 UBS Group Zurich, Switzerland	$1.07B	+$79.6M	+932,421	+8%
10	10 Royal Bank of Canada Toronto, Ontario, Canada	$893M	+$89.6M	+1,049,708	+12%
11	11 TD Asset Management Toronto, Ontario, Canada	$809M	+$45.6M	+533,545	+6%
12	12 Fidelity Investments Boston, Massachusetts	$807M	-$18.6M	-218,374	-2%
13	13 PNC Financial Services Group Pittsburgh, Pennsylvania	$777M	+$2.47M	+28,965	+0.3%
14	14 Bank of New York Mellon New York	$713M	+$18M	+211,335	+3%
15	15 US Bancorp Minneapolis, Minnesota	$666M	-$4.46M	-52,266	-0.7%
16	16 Envestnet Asset Management Chicago, Illinois	$574M	+$15.1M	+176,415	+3%
17	AG 17 AlTi Global New York	$524M	+$5.26M	+61,599	+1%
18	18 Corient Private Wealth Miami, Florida	$504M	+$166M	+1,939,941	+51%
19	19 LPL Financial San Diego, California	$450M	+$70M	+820,121	+19%
20	20 Jane Street New York	$411M	+$275M	+3,226,064	+235%
21	21 Bank of Montreal Toronto, Ontario, Canada	$357M	+$20.1M	+235,453	+6%
22	CA 22 Cambridge Associates Boston, Massachusetts	$314M	+$300M	+3,508,740	New
23	23 Jones Financial Companies Des Peres, Missouri	$313M	+$22.9M	+268,611	+8%
24	24 Truist Financial Charlotte, North Carolina	$311M	+$16.2M	+189,369	+6%
25	25 Susquehanna International Group Bala Cynwyd, Pennsylvania	$310M	+$207M	+2,425,391	+233%

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.

iShares MSCI EAFE ETF EFA Market cap $78.5B