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iShares Russell Top 200 ETF
IWL

200 hedge funds and large institutions have $1.23B invested in iShares Russell Top 200 ETF in 2025 Q2 according to their latest regulatory filings, with 24 funds opening new positions, 68 increasing their positions, 69 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 24 | Existing positions closed: 12

12% more capital invested

Capital invested by funds: $1.1B → $1.23B (+$137M)

6% more funds holding

Funds holding: 189 → 200 (+11)

1.71% more ownership

Funds ownership: 70% → 71.71% (+1.7%)

0% more funds holding in top 10

Funds holding in top 10: 16 → 16 (0)

1% less repeat investments, than reductions

Existing positions increased: 68 | Existing positions reduced: 69

Holders
200
Holders Change
+11
Holders Change %
+5.82%
% of All Funds
2.63%
Holding in Top 10
16
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.21%
New
24
Increased
68
Reduced
69
Closed
12
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RIS
Richmond Investment Services
Wisconsin
+$27.1M
2
SFS
Searcy Financial Services
Kansas
+$25.2M
3
HCA
Heck Capital Advisors
Wisconsin
+$23.4M
4
MMA
Miracle Mile Advisors
California
+$13.2M
5
GKFF
George Kaiser Family Foundation
Oklahoma
+$6.16M

Top Sellers

Rank Fund Capital Flow
1
PCP
Proficio Capital Partners
Massachusetts
-$23.5M
2
EH
Equitable Holdings
New York
-$21.1M
3
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$14.9M
4
DL
DOHJ LLC
Washington
-$13.6M
5
ECA
Elevation Capital Advisory
Oregon
-$8.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
ABWM
126
Alpine Bank Wealth Management
Colorado
$383K – – –
ACM
127
Andina Capital Management
Utah
$370K -$301K -2,137 -47%
MFF
128
Michels Family Financial
Texas
$370K -$564 -4 -0.2%
TFA
129
Toth Financial Advisory
Virginia
$364K – – –
Bank of New York Mellon
130
Bank of New York Mellon
New York
$356K +$328K +2,325 New
IRC
131
Investors Research Corp
Georgia
$351K +$114K +810 +55%
Corient Private Wealth
132
Corient Private Wealth
Florida
$348K – – –
BFG
133
Bouchey Financial Group
New York
$345K – – –
RA
134
Resolute Advisors
California
$345K +$705 +5 +0.2%
JWCA
135
J.W. Cole Advisors
Florida
$338K +$1.55K +11 +0.5%
DC
136
Davenport & Co
Virginia
$335K +$308K +2,188 New
KCM
137
Kendall Capital Management
Maryland
$324K -$33.7K -239 -10%
CIAS
138
Capital Investment Advisory Services
North Carolina
$306K – – –
FPAS
139
Focus Partners Advisor Solutions
Missouri
$298K +$275K +1,949 New
PCA
140
Prosperity Capital Advisors
Ohio
$296K +$55.3K +392 +25%
OWA
141
Octavia Wealth Advisors
Ohio
$277K +$141 +1 +0.1%
CWM
142
Cornerstone Wealth Management
Missouri
$276K – – –
CAPTRUST Financial Advisors
143
CAPTRUST Financial Advisors
North Carolina
$276K – – –
NAM
144
NTV Asset Management
West Virginia
$273K +$252K +1,785 New
MGIA
145
Moneta Group Investment Advisors
Missouri
$261K +$23.3K +165 +11%
Kovitz Investment Group Partners
146
Kovitz Investment Group Partners
Illinois
$260K – – –
TRCT
147
Tower Research Capital (TRC)
New York
$255K +$221K +1,569 +1,634%
MWA
148
Merkkuri Wealth Advisors
New York
$251K -$183K -1,300 -44%
TL
149
Tradewinds LLC
North Carolina
$251K +$231K +1,638 New
AR
150
Apeiron RIA
Texas
$246K +$564 +4 +0.3%
4 5
6
7 8

IWL Hedge Fund Activity: Q2 2025 in Review

200 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in iShares Russell Top 200 ETF (IWL) for Q2 2025, worth a combined $1.23B — up 12% from $1.1B a quarter earlier.

Buyers outnumbered sellers: 24 funds opened new IWL positions and 12 closed out — a net gain of 12 holders — while 68 added to existing stakes and 69 trimmed.

The largest buyer was Richmond Investment Services, adding an estimated $27.1M. The largest seller was Proficio Capital Partners, exiting entirely with an estimated $23.5M sold.

  • 200 institutional investors held iShares Russell Top 200 ETF (IWL) as of Q2 2025, up from 189 in Q1 2025.
  • Funds reported $1.23B of iShares Russell Top 200 ETF stock for Q2 2025, up 12% quarter-over-quarter.
  • 24 funds opened new iShares Russell Top 200 ETF positions in Q2 2025 and 12 closed out, a net change of +12 holders.
  • The largest iShares Russell Top 200 ETF buyer in Q2 2025 was Richmond Investment Services, an estimated $27.1M added.
  • The largest iShares Russell Top 200 ETF seller in Q2 2025 was Proficio Capital Partners, an estimated $23.5M sold.

Based on aggregated 13F filings for Q2 2025.