iShares Fallen Angels USD Bond ETF
FALN
271 hedge funds and large institutions have $1.27B invested in iShares Fallen Angels USD Bond ETF in 2025 Q2 according to their latest regulatory filings, with 29 funds opening new positions, 88 increasing their positions, 105 reducing their positions, and 31 closing their positions.
14% more funds holding in top 10
Funds holding in top 10: 7 → 8 (+1)
0.43% more ownership
Funds ownership: 73.07% → 73.49% (+0.43%)
6% less first-time investments, than exits
New positions opened: 29 | Existing positions closed: 31
2% less funds holding
Funds holding: 277 → 271 (-6)
16% less repeat investments, than reductions
Existing positions increased: 88 | Existing positions reduced: 105
18% less capital invested
Capital invested by funds: $1.55B → $1.27B (-$277M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MERSOM
Municipal Employees' Retirement System of Michigan
Lansing,
Michigan
|
+$91.7M |
| 2 |
Morgan Stanley
New York
|
+$22.6M |
| 3 |
PFM
Potomac Fund Management
Miami,
Florida
|
+$19M |
| 4 |
State of Tennessee, Department of Treasury
Nashville,
Tennessee
|
+$15.4M |
| 5 |
TC
Toews Corporation
Northfield,
New Jersey
|
+$9.15M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MG
Mather Group
Chicago,
Illinois
|
-$265M |
| 2 |
Ameriprise
Minneapolis,
Minnesota
|
-$36.6M |
| 3 |
Envestnet Asset Management
Chicago,
Illinois
|
-$25.2M |
| 4 |
AIA
Angeles Investment Advisors
Santa Monica,
California
|
-$24.5M |
| 5 |
PA
Procyon Advisors
Shelton,
Connecticut
|
-$15.1M |
FALN Hedge Fund Activity: Q2 2025 in Review
271 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in iShares Fallen Angels USD Bond ETF (FALN) for Q2 2025, worth a combined $1.27B — down 18% from $1.55B a quarter earlier.
Sellers outnumbered buyers: 31 funds closed out of FALN and 29 opened new positions — a net loss of 2 holders — while 105 trimmed existing stakes and 88 added.
The largest buyer was Municipal Employees' Retirement System of Michigan, opening a new position worth an estimated $91.7M. The largest seller was Mather Group, cutting an estimated $265M.
- 271 institutional investors held iShares Fallen Angels USD Bond ETF (FALN) as of Q2 2025, down from 277 in Q1 2025.
- Funds reported $1.27B of iShares Fallen Angels USD Bond ETF stock for Q2 2025, down 18% quarter-over-quarter.
- 29 funds opened new iShares Fallen Angels USD Bond ETF positions in Q2 2025 and 31 closed out, a net change of -2 holders.
- The largest iShares Fallen Angels USD Bond ETF buyer in Q2 2025 was Municipal Employees' Retirement System of Michigan, an estimated $91.7M added.
- The largest iShares Fallen Angels USD Bond ETF seller in Q2 2025 was Mather Group, an estimated $265M sold.
Based on aggregated 13F filings for Q2 2025.