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iShares MSCI Japan ETF
EWJ

638 hedge funds and large institutions have $11.2B invested in iShares MSCI Japan ETF in 2025 Q3 according to their latest regulatory filings, with 82 funds opening new positions, 194 increasing their positions, 181 reducing their positions, and 51 closing their positions.

New
Increased
Maintained
Reduced
Closed

429% more call options, than puts

Call options by funds: $691M | Put options by funds: $131M

61% more first-time investments, than exits

New positions opened: 82 | Existing positions closed: 51

3% more funds holding

Funds holding: 618 → 638 (+20)

7% more repeat investments, than reductions

Existing positions increased: 194 | Existing positions reduced: 181

2% more capital invested

Capital invested by funds: $11B → $11.2B (+$213M)

0.04% more ownership

Funds ownership: 71.83% → 71.86% (+0.04%)

14% less funds holding in top 10

Funds holding in top 10: 21 → 18 (-3)

Holders
638
Holders Change
+20
Holders Change %
+3.24%
% of All Funds
8.37%
Holding in Top 10
18
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-14.29%
% of All Funds
0.24%
New
82
Increased
194
Reduced
181
Closed
51
Calls
$691M
Puts
$131M
Net Calls
+$560M
Net Calls Change
+$480M

Top Buyers

1
HSBC Holdings
HSBC Holdings
United Kingdom
+$190M
2
Jane Street
Jane Street
New York
+$86.5M
3
Morgan Stanley
Morgan Stanley
New York
+$59.7M
4
Citadel Advisors
Citadel Advisors
Florida
+$54.4M
5
JP Morgan Chase
JP Morgan Chase
New York
+$51.2M

Top Sellers

1
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$488M
2
TD Asset Management
TD Asset Management
Ontario, Canada
-$121M
3
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$84.4M
4
FCAS
First Command Advisory Services
Texas
-$82.2M
5
BlackRock
BlackRock
New York
-$63.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
Citadel Advisors
26
Citadel Advisors
Florida
$57M +$54.4M +703,831 +10,354%
Fidelity International
27
Fidelity International
Bermuda
$54.8M -$7.85M -101,487 -13%
National Bank of Canada
28
National Bank of Canada
Quebec, Canada
$50.2M +$48.4M +625,300 New
Wells Fargo
29
Wells Fargo
California
$49.6M -$4.38M -56,584 -8%
1CP
30
1607 Capital Partners
Virginia
$46M -$4.01M -51,885 -8%
DZ Bank
31
DZ Bank
Germany
$44.9M +$21.3M +275,409 +97%
AllianceBernstein
32
AllianceBernstein
Tennessee
$44.1M +$246K +3,183 +0.6%
OPCM
33
Osborne Partners Capital Management
California
$43.1M +$256K +3,314 +0.6%
PPFA
34
Provida Pension Fund Administrator
Chile
$41.9M +$23.1M +298,865 +136%
IUHSA
35
Itau Unibanco Holding S.A.
Brazil
$40.2M -$22.1M -286,304 -36%
Osaic Holdings
36
Osaic Holdings
Arizona
$37.7M +$30.5M +393,747 +505%
Citigroup
37
Citigroup
New York
$35M -$14M -181,064 -29%
Victory Capital Management
38
Victory Capital Management
Texas
$32.4M +$31.3M +404,083 New
RCIM
39
Red Cedar Investment Management
Michigan
$31.3M -$937K -12,114 -3%
SAM
40
Silvercrest Asset Management
New York
$30.9M – – –
AIA
41
Angeles Investment Advisors
California
$29.9M +$28.8M +373,000 New
Rockefeller Capital Management
42
Rockefeller Capital Management
New York
$29.7M +$58.5K +757 +0.2%
AAG
43
Armstrong Advisory Group
Massachusetts
$29.7M +$389K +5,028 +1%
MIM
44
Miller Investment Management
Pennsylvania
$29.4M -$217K -2,809 -0.8%
Comerica Bank
45
Comerica Bank
Texas
$27.6M -$5.17M -66,784 -16%
Mackenzie Financial
46
Mackenzie Financial
Ontario, Canada
$26.9M -$387K -5,000 -1%
HI
47
Horizon Investments
North Carolina
$25.1M -$1.05M -13,577 -4%
Grantham, Mayo, Van Otterloo & Co (GMO)
48
Grantham, Mayo, Van Otterloo & Co (GMO)
Massachusetts
$25M – – –
AWM
49
Angeles Wealth Management
California
$24.7M +$1.06M +13,666 +5%
COPPSERS
50
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$24.1M – – –
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EWJ Hedge Fund Activity: Q3 2025 in Review

638 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI Japan ETF (EWJ) for Q3 2025, worth a combined $11.2B — up 1.9% from $11B a quarter earlier.

Buyers outnumbered sellers: 82 funds opened new EWJ positions and 51 closed out — a net gain of 31 holders — while 194 added to existing stakes and 181 trimmed.

The largest buyer was HSBC Holdings, adding an estimated $190M. The largest seller was Bank of Montreal, cutting an estimated $488M.

  • 638 institutional investors held iShares MSCI Japan ETF (EWJ) as of Q3 2025, up from 618 in Q2 2025.
  • Funds reported $11.2B of iShares MSCI Japan ETF stock for Q3 2025, up 1.9% quarter-over-quarter.
  • 82 funds opened new iShares MSCI Japan ETF positions in Q3 2025 and 51 closed out, a net change of +31 holders.
  • The largest iShares MSCI Japan ETF buyer in Q3 2025 was HSBC Holdings, an estimated $190M added.
  • The largest iShares MSCI Japan ETF seller in Q3 2025 was Bank of Montreal, an estimated $488M sold.

Based on aggregated 13F filings for Q3 2025.