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iShares MSCI India ETF
INDA

578 hedge funds and large institutions have $8.37B invested in iShares MSCI India ETF in 2025 Q1 according to their latest regulatory filings, with 72 funds opening new positions, 158 increasing their positions, 225 reducing their positions, and 96 closing their positions.

New
Increased
Maintained
Reduced
Closed

352% more call options, than puts

Call options by funds: $485M | Put options by funds: $107M

3.34% more ownership

Funds ownership: 88.8% → 92.14% (+3.3%)

6% less funds holding

Funds holding: 613 → 578 (-35)

8% less capital invested

Capital invested by funds: $9.05B → $8.37B (-$681M)

18% less funds holding in top 10

Funds holding in top 10: 22 → 18 (-4)

25% less first-time investments, than exits

New positions opened: 72 | Existing positions closed: 96

30% less repeat investments, than reductions

Existing positions increased: 158 | Existing positions reduced: 225

Holders
578
Holders Change
-35
Holders Change %
-5.71%
% of All Funds
7.75%
Holding in Top 10
18
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-18.18%
% of All Funds
0.24%
New
72
Increased
158
Reduced
225
Closed
96
Calls
$485M
Puts
$107M
Net Calls
+$378M
Net Calls Change
+$325M

Top Buyers

1
Teacher Retirement System of Texas
Teacher Retirement System of Texas
Texas
+$287M
2
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
+$250M
3
Man Group
Man Group
United Kingdom
+$82.7M
4
UBS Group
UBS Group
Switzerland
+$50.6M
5
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$43.2M

Top Sellers

1
Goldman Sachs
Goldman Sachs
New York
-$161M
2
Jane Street
Jane Street
New York
-$150M
3
JP Morgan Chase
JP Morgan Chase
New York
-$142M
4
OMC
Old Mission Capital
Illinois
-$110M
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$75.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
State of Tennessee, Department of Treasury
1
State of Tennessee, Department of Treasury
Tennessee
$805M +$250M +4,954,298 +46%
Morgan Stanley
2
Morgan Stanley
New York
$500M -$34.9M -693,675 -7%
PFSRSONJ
3
Police & Firemen's Retirement System of New Jersey
New Jersey
$499M +$14.7M +291,000 +3%
BlackRock
4
BlackRock
New York
$487M +$16.9M +336,389 +4%
Bank of New York Mellon
5
Bank of New York Mellon
New York
$440M +$14.7M +292,267 +4%
Northern Trust
6
Northern Trust
Illinois
$370M +$689K +13,671 +0.2%
Teacher Retirement System of Texas
7
Teacher Retirement System of Texas
Texas
$293M +$287M +5,691,576 New
Legal & General Group
8
Legal & General Group
United Kingdom
$259M -$2.02M -40,000 -0.8%
Bank of America
9
Bank of America
North Carolina
$258M -$30.1M -597,042 -11%
UBS Group
10
UBS Group
Switzerland
$208M +$50.6M +1,005,075 +33%
JP Morgan Chase
11
JP Morgan Chase
New York
$196M -$142M -2,824,240 -43%
Arrowstreet Capital
12
Arrowstreet Capital
Massachusetts
$196M -$40.9M -812,136 -18%
Fidelity Investments
13
Fidelity Investments
Massachusetts
$164M -$4.54M -90,091 -3%
Geode Capital Management
14
Geode Capital Management
Massachusetts
$161M – – –
CCA
15
Catalyst Capital Advisors
New York
$128M +$13M +257,275 +12%
MRC
16
Millburn Ridgefield Corp
New York
$128M +$13M +257,275 +12%
Manulife (Manufacturers Life Insurance)
17
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$128M -$24.7M -491,037 -17%
EC
18
Euclidean Capital
New York
$125M – – –
Ensign Peak Advisors
19
Ensign Peak Advisors
Utah
$122M -$13M -257,370 -10%
Citigroup
20
Citigroup
New York
$107M -$12.8M -254,930 -11%
Deutsche Bank
21
Deutsche Bank
Germany
$102M -$56.3M -1,117,824 -36%
Man Group
22
Man Group
United Kingdom
$98.6M +$82.7M +1,641,940 +599%
NC
23
Nipun Capital
California
$90.1M +$6.88M +136,600 +8%
Wells Fargo
24
Wells Fargo
California
$88.1M -$48.8M -968,513 -36%
Franklin Resources
25
Franklin Resources
California
$86.9M -$5.24M -104,021 -6%
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INDA Hedge Fund Activity: Q1 2025 in Review

578 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI India ETF (INDA) for Q1 2025, worth a combined $8.37B — down 7.5% from $9.05B a quarter earlier.

Sellers outnumbered buyers: 96 funds closed out of INDA and 72 opened new positions — a net loss of 24 holders — while 225 trimmed existing stakes and 158 added.

The largest buyer was Teacher Retirement System of Texas, opening a new position worth an estimated $287M. The largest seller was Goldman Sachs, cutting an estimated $161M.

  • 578 institutional investors held iShares MSCI India ETF (INDA) as of Q1 2025, down from 613 in Q4 2024.
  • Funds reported $8.37B of iShares MSCI India ETF stock for Q1 2025, down 7.5% quarter-over-quarter.
  • 72 funds opened new iShares MSCI India ETF positions in Q1 2025 and 96 closed out, a net change of -24 holders.
  • The largest iShares MSCI India ETF buyer in Q1 2025 was Teacher Retirement System of Texas, an estimated $287M added.
  • The largest iShares MSCI India ETF seller in Q1 2025 was Goldman Sachs, an estimated $161M sold.

Based on aggregated 13F filings for Q1 2025.