Wahed FTSE USA Shariah ETF
HLAL
42 hedge funds and large institutions have $27.7M invested in Wahed FTSE USA Shariah ETF in 2025 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 18 increasing their positions, 7 reducing their positions, and 7 closing their positions.
157% more repeat investments, than reductions
Existing positions increased: 18 | Existing positions reduced: 7
4% less capital invested
Capital invested by funds: $28.8M → $27.7M (-$1.02M)
1.13% less ownership
Funds ownership: 4.6% → 3.46% (-1.1%)
9% less funds holding
Funds holding: 46 → 42 (-4)
57% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MML Investors Services
Springfield,
Massachusetts
|
+$399K |
| 2 |
Mercer Global Advisors
Denver,
Colorado
|
+$387K |
| 3 |
KFS
Kaizen Financial Strategies
Campbell,
California
|
+$197K |
| 4 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$123K |
| 5 |
Jones Financial Companies
Des Peres,
Missouri
|
+$56.3K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RF
rebel Financial
Groveport,
Ohio
|
-$3.36M |
| 2 |
RA
RFG Advisory
Birmingham,
Alabama
|
-$1.38M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$1.15M |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
-$919K |
| 5 |
TRCT
Tower Research Capital (TRC)
New York
|
-$641K |
HLAL Hedge Fund Activity: Q3 2025 in Review
42 of the 7,641 institutional investors tracked by Wall St. Rank reported a position in Wahed FTSE USA Shariah ETF (HLAL) for Q3 2025, worth a combined $27.7M — down 3.5% from $28.8M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of HLAL and 3 opened new positions — a net loss of 4 holders — while 7 trimmed existing stakes and 18 added.
The largest buyer was MML Investors Services, opening a new position worth an estimated $399K. The largest seller was rebel Financial, exiting entirely with an estimated $3.36M sold.
- 42 institutional investors held Wahed FTSE USA Shariah ETF (HLAL) as of Q3 2025, down from 46 in Q2 2025.
- Funds reported $27.7M of Wahed FTSE USA Shariah ETF stock for Q3 2025, down 3.5% quarter-over-quarter.
- 3 funds opened new Wahed FTSE USA Shariah ETF positions in Q3 2025 and 7 closed out, a net change of -4 holders.
- The largest Wahed FTSE USA Shariah ETF buyer in Q3 2025 was MML Investors Services, an estimated $399K added.
- The largest Wahed FTSE USA Shariah ETF seller in Q3 2025 was rebel Financial, an estimated $3.36M sold.
Based on aggregated 13F filings for Q3 2025.