iShares Russell Top 200 ETF
221 hedge funds and large institutions have $1.43B invested in iShares Russell Top 200 ETF in 2025 Q4 according to their latest regulatory filings, with 33 funds opening new positions, 63 increasing their positions, 78 reducing their positions, and 13 closing their positions.
230% more capital inflows, than outflows
Capital inflows: $124M | Capital outflows: $37.5M
154% more first-time investments, than exits
New positions opened: 33 | Existing positions closed: 13
9% more funds holding
Funds holding: 203 → 221 (+18)
0% more funds holding in top 10
Funds holding in top 10: 15 → 15 (0)
0.04% less ownership
Funds ownership: 70.83% → 70.79% (-0.04%)
19% less repeat investments, than reductions
Existing positions increased: 63 | Existing positions reduced: 78
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Commerce Bank
Kansas City,
Missouri
|
+$29.3M |
| 2 |
Annex Advisory Services
Brookfield,
Wisconsin
|
+$12.8M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
+$10.5M |
| 4 |
Lido Advisors
Los Angeles,
California
|
+$8.35M |
| 5 |
Morgan Stanley
New York
|
+$7.68M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FL
FreeGulliver LLC
New Orleans,
Louisiana
|
-$3.72M |
| 2 |
WCAMG
Woodard & Company Asset Management Group
Bermuda Run,
North Carolina
|
-$3.11M |
| 3 |
Bank of Nova Scotia
Toronto,
Ontario, Canada
|
-$2.82M |
| 4 |
Two Sigma Investments
New York
|
-$2.64M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$2.63M |
IWL Hedge Fund Activity: Q4 2025 in Review
221 of the 8,287 institutional investors tracked by Wall St. Rank reported a position in iShares Russell Top 200 ETF (IWL) for Q4 2025, worth a combined $1.43B — up 8.3% from $1.32B a quarter earlier.
Buyers outnumbered sellers: 33 funds opened new IWL positions and 13 closed out — a net gain of 20 holders — while 63 added to existing stakes and 78 trimmed.
The largest buyer was Commerce Bank, opening a new position worth an estimated $29.3M. The largest seller was FreeGulliver LLC, cutting an estimated $3.72M.
- 221 institutional investors held iShares Russell Top 200 ETF (IWL) as of Q4 2025, up from 203 in Q3 2025.
- Funds reported $1.43B of iShares Russell Top 200 ETF stock for Q4 2025, up 8.3% quarter-over-quarter.
- 33 funds opened new iShares Russell Top 200 ETF positions in Q4 2025 and 13 closed out, a net change of +20 holders.
- The largest iShares Russell Top 200 ETF buyer in Q4 2025 was Commerce Bank, an estimated $29.3M added.
- The largest iShares Russell Top 200 ETF seller in Q4 2025 was FreeGulliver LLC, an estimated $3.72M sold.
Based on aggregated 13F filings for Q4 2025.