
Efficient Advisors LLC reduced its holdings in Vanguard FTSE Emerging Markets ETF (VWO) by 2.6% during the fourth quarter of 2025, selling 16,669 shares and ending with 615,438 shares valued at $33 million. This ETF represents about 1.9% of Efficient Advisors' portfolio, ranking it as their 23rd largest holding. The Vanguard FTSE Emerging Markets ETF tracks stocks in emerging markets and has a market cap of $103 billion. Institutional investors hold over 67% of the ETF. The reduction signals a slight shift in Efficient Advisors' exposure to emerging markets equities amid ongoing market fluctuations.