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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
Corient Private Wealth
76
Corient Private Wealth
Florida
$14.1M +$1,000K +12,929 +8%
Kovitz Investment Group Partners
77
Kovitz Investment Group Partners
Illinois
$13.6M -$161K -2,082 -1%
Two Sigma Investments
78
Two Sigma Investments
New York
$12.4M +$1.93M +24,900 +19%
D.E. Shaw & Co
79
D.E. Shaw & Co
New York
$12.3M -$21.1M -272,986 -64%
AIM
80
Allen Investment Management
New York
$12.1M +$11.7M +151,441 New
Northwestern Mutual Wealth Management
81
Northwestern Mutual Wealth Management
Wisconsin
$12.1M -$509K -6,578 -4%
JHU
82
Johns Hopkins University
Maryland
$11.7M -$48.3M -624,139 -81%
Neuberger Berman Group
83
Neuberger Berman Group
New York
$11.6M -$2.24M -29,003 -17%
FDCDDQ
84
Federation des caisses Desjardins du Quebec
Quebec, Canada
$11.4M -$2.75M -35,590 -20%
PGA
85
Portland Global Advisors
Maine
$11.3M +$171K +2,213 +2%
KAS
86
Kestra Advisory Services
Texas
$11.2M +$1.07M +13,869 +11%
EPA
87
Element Pointe Advisors
Florida
$10.8M +$1.38M +17,834 +15%
HIIFS
88
Harel Insurance Investments & Financial Services
Israel
$10.3M +$699K +9,036 +8%
Truist Financial
89
Truist Financial
North Carolina
$10.1M +$154K +1,997 +2%
ACIM
90
Azimuth Capital Investment Management
Michigan
$9.92M +$59.9K +775 +0.6%
AP
91
Americana Partners
Texas
$9.71M +$337K +4,351 +4%
BP
92
Ballentine Partners
Massachusetts
$9.67M – – –
ECM
93
Eisler Capital Management
United Kingdom
$9.5M +$9.2M +119,006 New
PHAM
94
Palisades Hudson Asset Management
Florida
$9.48M -$61K -789 -0.7%
BPAMU
95
BTG Pactual Asset Management US
New York
$9.34M +$272K +3,514 +3%
Franklin Resources
96
Franklin Resources
California
$9.21M +$2.61M +33,748 +42%
AWA
97
Alaska Wealth Advisors
Alaska
$9.09M +$58.8K +760 +0.7%
HCA
98
Harbor Capital Advisors
Illinois
$8.56M +$2.64M +34,166 +47%
MPM
99
MBB Public Markets
Illinois
$8.38M -$21.7M -280,000 -73%
SWP
100
Strategic Wealth Partners
Ohio
$8.32M +$114K +1,468 +1%
2 3
4
5 6

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.