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Vanguard FTSE Emerging Markets ETF
VWO

2,301 hedge funds and large institutions have $72.9B invested in Vanguard FTSE Emerging Markets ETF in 2025 Q3 according to their latest regulatory filings, with 149 funds opening new positions, 1,049 increasing their positions, 840 reducing their positions, and 67 closing their positions.

New
Increased
Maintained
Reduced
Closed

122% more first-time investments, than exits

New positions opened: 149 | Existing positions closed: 67

25% more repeat investments, than reductions

Existing positions increased: 1,049 | Existing positions reduced: 840

11% more capital invested

Capital invested by funds: $65.5B → $72.9B (+$7.37B)

2% more funds holding

Funds holding: 2,263 → 2,301 (+38)

1% more funds holding in top 10

Funds holding in top 10: 248 → 250 (+2)

1.39% less ownership

Funds ownership: 73.01% → 71.62% (-1.4%)

32% less call options, than puts

Call options by funds: $40.3M | Put options by funds: $59.7M

Holders
2,301
Holders Change
+38
Holders Change %
+1.68%
% of All Funds
30.2%
Holding in Top 10
250
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+0.81%
% of All Funds
3.28%
New
149
Increased
1,049
Reduced
840
Closed
67
Calls
$40.3M
Puts
$59.7M
Net Calls
-$19.3M
Net Calls Change
-$13.7M

Top Buyers

Rank Fund Capital Flow
1
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$166M
2
Vanguard Group
Vanguard Group
Pennsylvania
+$148M
3
Mercer Global Advisors
Mercer Global Advisors
Colorado
+$129M
4
JP Morgan Chase
JP Morgan Chase
New York
+$124M
5
VIA
Vantagepoint Investment Advisers
District of Columbia
+$122M

Top Sellers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$396M
2
SDIC
South Dakota Investment Council
South Dakota
-$113M
3
VOYA Investment Management
VOYA Investment Management
Georgia
-$85.3M
4
EF
Empowered Funds
Pennsylvania
-$69.2M
5
Victory Capital Management
Victory Capital Management
Texas
-$43.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
LGWM
151
Litman Gregory Wealth Management
California
$42.3M -$1.17M -22,760 -3%
MGIA
152
Moneta Group Investment Advisors
Missouri
$41.7M +$1.09M +21,132 +3%
AF
153
Allworth Financial
California
$41.7M -$514K -9,967 -1%
RIM
154
Rakuten Investment Management
Japan
$41.5M +$39.6M +768,628 New
SFG
155
Sage Financial Group
Pennsylvania
$41.2M +$2.81M +54,487 +8%
P
156
&Partners
Tennessee
$40.9M +$6.01M +116,657 +18%
BPA
157
Beacon Pointe Advisors
California
$40.8M +$14.6M +282,451 +60%
MTC
158
Matrix Trust Company
Colorado
$40.1M -$2.2M -42,613 -5%
TD Asset Management
159
TD Asset Management
Ontario, Canada
$39.8M +$1.17M +22,742 +3%
AWM
160
Axxcess Wealth Management
California
$39.6M +$258K +5,012 +0.7%
BOH
161
Bank of Hawaii
Hawaii
$39.3M +$207K +4,019 +0.6%
AC
162
AlphaCore Capital
California
$38.6M +$1.08M +20,917 +3%
SIC
163
Sigma Investment Counselors
Michigan
$37.9M +$240K +4,663 +0.7%
CFB
164
Cullen/Frost Bankers
Texas
$37.8M -$2.42M -47,061 -6%
CAAS
165
Capital Asset Advisory Services
Michigan
$37.4M +$112K +2,174 +0.3%
BS
166
Banco Santander
Spain
$37.3M +$14.9M +289,697 +73%
BOPW
167
Brandywine Oak Private Wealth
Pennsylvania
$36.3M +$53.8K +1,045 +0.2%
KAS
168
Kestra Advisory Services
Texas
$36.3M +$12.5M +241,890 +56%
R
169
Rebalance
California
$36M +$457K +8,861 +1%
VFA
170
Valeo Financial Advisors
Indiana
$35.8M -$229K -4,449 -0.7%
PAG
171
Private Advisor Group
New Jersey
$35.3M +$1.87M +36,374 +6%
AA
172
ALPS Advisors
Colorado
$35.3M -$43.5K -845 -0.1%
BAAM
173
Baker Avenue Asset Management
California
$35.3M +$60.7K +1,179 +0.2%
PPW
174
Presilium Private Wealth
Pennsylvania
$35.2M -$160K -3,113 -0.5%
CG
175
Caprock Group
Idaho
$35.1M +$35.1M +681,158 New
5 6
7
8 9

VWO Hedge Fund Activity: Q3 2025 in Review

2,301 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Vanguard FTSE Emerging Markets ETF (VWO) for Q3 2025, worth a combined $72.9B — up 11% from $65.5B a quarter earlier.

Buyers outnumbered sellers: 149 funds opened new VWO positions and 67 closed out — a net gain of 82 holders — while 1,049 added to existing stakes and 840 trimmed.

The largest buyer was Northwestern Mutual Wealth Management, adding an estimated $166M. The largest seller was Envestnet Asset Management, cutting an estimated $396M.

  • 2,301 institutional investors held Vanguard FTSE Emerging Markets ETF (VWO) as of Q3 2025, up from 2,263 in Q2 2025.
  • Funds reported $72.9B of Vanguard FTSE Emerging Markets ETF stock for Q3 2025, up 11% quarter-over-quarter.
  • 149 funds opened new Vanguard FTSE Emerging Markets ETF positions in Q3 2025 and 67 closed out, a net change of +82 holders.
  • The largest Vanguard FTSE Emerging Markets ETF buyer in Q3 2025 was Northwestern Mutual Wealth Management, an estimated $166M added.
  • The largest Vanguard FTSE Emerging Markets ETF seller in Q3 2025 was Envestnet Asset Management, an estimated $396M sold.

Based on aggregated 13F filings for Q3 2025.