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Wahed FTSE USA Shariah ETF
HLAL

42 hedge funds and large institutions have $24.2M invested in Wahed FTSE USA Shariah ETF in 2025 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 16 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

23% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 13

0% more funds holding

Funds holding: 42 → 42 (0)

0% more first-time investments, than exits

New positions opened: 5 | Existing positions closed: 5

0.62% less ownership

Funds ownership: 4.99% → 4.36% (-0.62%)

16% less capital invested

Capital invested by funds: $28.7M → $24.2M (-$4.59M)

Holders
42
Holders Change
–
Holders Change %
0%
% of All Funds
0.56%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
16
Reduced
13
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Two Sigma Investments
Two Sigma Investments
New York
+$2.48M
2
Goldman Sachs
Goldman Sachs
New York
+$2.17M
3
Financial Engines Advisors
Financial Engines Advisors
California
+$263K
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$243K
5
CIBC World Market
CIBC World Market
Ontario, Canada
+$123K

Top Sellers

Rank Fund Capital Flow
1
RA
RFG Advisory
Alabama
-$4.45M
2
Citadel Advisors
Citadel Advisors
Florida
-$1.24M
3
Jane Street
Jane Street
New York
-$888K
4
CCC
Compass Capital Corp
Massachusetts
-$381K
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$303K
Name Holding Trade Value Shares
Change 		Change in
Stake
Two Sigma Investments
1
Two Sigma Investments
New York
$4.2M +$2.48M +47,600 +124%
RA
2
RFG Advisory
Alabama
$2.7M -$4.45M -85,395 -61%
Goldman Sachs
3
Goldman Sachs
New York
$2.03M +$2.17M +41,604 New
FFA
4
Farther Finance Advisors
California
$1.93M -$48.1K -922 -2%
MWM
5
Mission Wealth Management
California
$1.76M +$116K +2,223 +7%
SFA
6
Sequoia Financial Advisors
Ohio
$1.41M – – –
Royal Bank of Canada
7
Royal Bank of Canada
Ontario, Canada
$894K +$243K +4,653 +34%
Envestnet Asset Management
8
Envestnet Asset Management
Illinois
$803K -$303K -5,813 -26%
FDCDDQ
9
Federation des caisses Desjardins du Quebec
Quebec, Canada
$771K +$74K +1,420 +10%
Mercer Global Advisors
10
Mercer Global Advisors
Colorado
$730K -$300K -5,763 -28%
VFA
11
Valeo Financial Advisors
Indiana
$589K +$74.2K +1,424 +13%
VBFG
12
Vishria Bird Financial Group
Tennessee
$575K -$104K -1,998 -15%
TWC
13
TD Waterhouse Canada
Ontario, Canada
$507K -$210K -4,030 -28%
CIBC World Market
14
CIBC World Market
Ontario, Canada
$494K +$123K +2,357 +30%
TRCT
15
Tower Research Capital (TRC)
New York
$441K +$75.3K +1,444 +19%
CCC
16
Compass Capital Corp
Massachusetts
$440K -$381K -7,300 -42%
WCFA
17
Walkner Condon Financial Advisors
Wisconsin
$391K – – –
AWM
18
Apollon Wealth Management
South Carolina
$374K -$7.51K -144 -2%
Cetera Investment Advisers
19
Cetera Investment Advisers
Illinois
$323K +$102K +1,966 +42%
SC
20
Sepio Capital
Utah
$303K -$22.9K -439 -7%
Northwestern Mutual Wealth Management
21
Northwestern Mutual Wealth Management
Wisconsin
$293K +$84.1K +1,614 +37%
BIG
22
Brookwood Investment Group
Arizona
$283K +$302K +5,800 New
SCA
23
Snowden Capital Advisors
New York
$271K +$209 +4 +0.1%
Financial Engines Advisors
24
Financial Engines Advisors
California
$247K +$263K +5,054 New
UCFA
25
United Capital Financial Advisors
Texas
$243K – – –
1
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HLAL Hedge Fund Activity: Q1 2025 in Review

42 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Wahed FTSE USA Shariah ETF (HLAL) for Q1 2025, worth a combined $24.2M — down 16% from $28.7M a quarter earlier.

Fund positioning in HLAL was balanced in Q1 2025: 5 funds opened new positions, 5 closed out, 16 added to existing stakes and 13 trimmed.

The largest buyer was Two Sigma Investments, adding an estimated $2.48M. The largest seller was RFG Advisory, cutting an estimated $4.45M.

  • 42 institutional investors held Wahed FTSE USA Shariah ETF (HLAL) as of Q1 2025, unchanged from Q4 2024.
  • Funds reported $24.2M of Wahed FTSE USA Shariah ETF stock for Q1 2025, down 16% quarter-over-quarter.
  • 5 funds opened new Wahed FTSE USA Shariah ETF positions in Q1 2025 and 5 closed out, a net change of 0 holders.
  • The largest Wahed FTSE USA Shariah ETF buyer in Q1 2025 was Two Sigma Investments, an estimated $2.48M added.
  • The largest Wahed FTSE USA Shariah ETF seller in Q1 2025 was RFG Advisory, an estimated $4.45M sold.

Based on aggregated 13F filings for Q1 2025.