Analyst IMS Loads Up on AAXJ With a $112.7 Million Buy

Key Points

Analyst IMS Investment Management Services purchased 1,125,430 shares of AAXJ for an estimated trade value of $112.7 million, based on quarterly average pricing.

The post-trade holding now stands at 2,221,114 shares valued at $213.9 million.

AAXJ is now the funds fourth-largest position, representing 6.5% of the fund's reported assets under management (AUM).

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What happened

According to an SEC filing dated April 23, 2026, Analyst IMS Investment Management Services Ltd. increased its position in iShares MSCI All Country Asia ex Japan ETF (NASDAQ:AAXJ) by 1,125,430 shares. The estimated transaction value was $112.7 million, based on the average closing price during the first quarter.

What else to know

• The position now accounts for 6.5% of the fund's 13F reportable AUM -- making it the fund's fourth-largest holding.
• Top five holdings after the filing:
• NASDAQ: QQQ: $1.0 billion (31.2% of AUM)
• NYSE: SPY: $562.3 million (17.0% of AUM)
• NYSE: VOO: $357.7 million (10.8% of AUM)
• NASDAQ: AAXJ $213.9 million (6.5% of AUM)

• NYSE: IVV: $203.4 million (6.2% of AUM)

• As of April 21, 2026, shares were trading at $106.13, up about 53% over the past year, outperforming the S&P 500 by roughly 18 percentage points

ETF overview

| Metric | Value | |---|---| | AUM | $3.3 billion | | Expense ratio | 0.72% | | Dividend yield | 1.76% | | 1-year price change | 53.3% |

ETF snapshot

The iShares MSCI All Country Asia ex Japan ETF (AAXJ) is a passively managed fund that seeks to track the MSCI All Country Asia ex Japan Index.

• Provides broad exposure to large- and mid-cap equities across Asian markets, excluding Japan, with country allocations typically spanning China, South Korea, Taiwan, India, and other regional economies.
• Offers institutional and retail investors efficient, low-cost access to Asian equity markets through a single, liquid security.

What this transaction means for investors

IMS's decision to more than double its AAXJ position -- adding over $112 million worth of shares in a single quarter -- is a meaningful signal worth noting. This was a conviction-sized move.

Asian equities have been on a strong run, with AAXJ up more than 53% over the past year, handily beating the S&P 500 by roughly 18 percentage points. For a large institutional manager, adding aggressively after that kind of run suggests a continued belief in the region's growth trajectory.

Much of that optimism likely centers on China, India, Taiwan, and South Korea, which together make up the bulk of AAXJ's holdings. India, in particular, has attracted significant institutional interest in recent years, driven by its expanding consumer class and long-term GDP growth prospects. Meanwhile, Taiwan and South Korea provide exposure to the global semiconductor supply chain -- a theme that has powered much of the ETF's recent outperformance.

For everyday investors, AAXJ offers a straightforward way to gain diversified exposure to Asia's growth story without having to pick individual countries or companies. With a dividend yield of 1.76% and a transparent, index-tracking structure, it's a practical building block for portfolios seeking geographic diversification beyond U.S. and Japanese equities. IMS's latest move suggests institutional money continues to see plenty of runway in this corner of the world.

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Andy Gould has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard S&P 500 ETF and iShares Trust - iShares Semiconductor ETF. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.