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iShares MSCI USA Quality Factor ETF
QUAL

540 hedge funds and large institutions have $12.3B invested in iShares MSCI USA Quality Factor ETF in 2019 Q4 according to their latest regulatory filings, with 188 funds opening new positions, 230 increasing their positions, 72 reducing their positions, and 29 closing their positions.

New
Increased
Maintained
Reduced
Closed

548% more first-time investments, than exits

New positions opened: 188 | Existing positions closed: 29

219% more repeat investments, than reductions

Existing positions increased: 230 | Existing positions reduced: 72

72% more funds holding in top 10

Funds holding in top 10: 60 → 103 (+43)

44% more capital invested

Capital invested by funds: $8.53B → $12.3B (+$3.74B)

39% more funds holding

Funds holding: 388 → 540 (+152)

2.93% more ownership

Funds ownership: 71.93% → 74.86% (+2.9%)

Holders
540
Holders Change
+152
Holders Change %
+39.18%
% of All Funds
10.64%
Holding in Top 10
103
Holding in Top 10 Change
+43
Holding in Top 10 Change %
+71.67%
% of All Funds
2.03%
New
188
Increased
230
Reduced
72
Closed
29
Calls
$19.5M
Puts
–
Net Calls
+$19.5M
Net Calls Change
+$1.04M

Top Buyers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$867M
2
BlackRock
BlackRock
New York
+$197M
3
LPL Financial
LPL Financial
California
+$195M
4
AG
Advisor Group
Arizona
+$123M
5
Fidelity Investments
Fidelity Investments
Massachusetts
+$101M

Top Sellers

Rank Fund Capital Flow
1
M&T Bank
M&T Bank
New York
-$218M
2
DT
Diversified Trust
Tennessee
-$33.7M
3
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$21M
4
FTIOP
Fiduciary Trust International of Pennsylvania
Pennsylvania
-$17.1M
5
BCI
Brinker Capital Investments
Pennsylvania
-$16.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
CAS
226
Cascadia Advisory Services
Oregon
$2.52M +$2.41M +24,988 New
LFPWM
227
Leicht Financial Planning & Wealth Management
New Jersey
$2.52M +$2.41M +24,977 New
SW
228
SVB Wealth
Massachusetts
$2.51M +$2.39M +24,814 New
CWS
229
Cypress Wealth Services
California
$2.46M +$2.35M +24,397 New
PWMG
230
Prestige Wealth Management Group
New Jersey
$2.42M +$119K +1,236 +5%
DIP
231
DT Investment Partners
Pennsylvania
$2.39M – – –
CAN
232
Cetera Advisor Networks
California
$2.37M +$1.22M +12,641 +117%
VIM
233
Vista Investment Management
Pennsylvania
$2.37M +$68.3K +709 +3%
SW
234
SlateStone Wealth
Florida
$2.31M +$89K +924 +4%
LFAS
235
Level Four Advisory Services
Texas
$2.29M +$2.18M +22,656 New
BCM
236
Beck Capital Management
Texas
$2.23M -$218K -2,259 -9%
CWG
237
Cornerstone Wealth Group
North Carolina
$2.23M +$145K +1,510 +7%
FMBTD
238
First Midwest Bank Trust Division
Illinois
$2.22M -$89K -924 -4%
IWM
239
IHT Wealth Management
Illinois
$2.21M +$693K +7,198 +49%
OC
240
Oppenheimer & Co
New York
$2.2M +$189K +1,966 +10%
AF
241
Apexium Financial
Texas
$2.2M +$2.1M +21,817 New
FHA
242
Flagship Harbor Advisors
Massachusetts
$2.19M +$197K +2,044 +10%
MIAN
243
Mariner Independent Advisor Network
Kansas
$2.14M +$2.04M +21,162 New
CA
244
Cetera Advisors
Colorado
$2.14M +$1.1M +11,424 +117%
PA
245
PFG Advisors
Arizona
$2.13M +$77.2K +802 +4%
CWM
246
Cornerstone Wealth Management
Missouri
$2.13M +$1.25M +12,965 +161%
S
247
Surevest
California
$2.09M -$487K -5,055 -20%
SFS
248
Sowell Financial Services
Arkansas
$2.06M +$1.73M +17,961 +737%
SWM
249
Sugarloaf Wealth Management
Georgia
$2.05M +$1.96M +20,340 New
PPWM
250
PFG Private Wealth Management
Florida
$2.02M +$1.93M +20,020 New
8 9
10
11 12

QUAL Hedge Fund Activity: Q4 2019 in Review

540 of the 5,075 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI USA Quality Factor ETF (QUAL) for Q4 2019, worth a combined $12.3B — up 44% from $8.53B a quarter earlier.

Buyers outnumbered sellers: 188 funds opened new QUAL positions and 29 closed out — a net gain of 159 holders — while 230 added to existing stakes and 72 trimmed.

The largest buyer was Envestnet Asset Management, adding an estimated $867M. The largest seller was M&T Bank, exiting entirely with an estimated $218M sold.

  • 540 institutional investors held iShares MSCI USA Quality Factor ETF (QUAL) as of Q4 2019, up from 388 in Q3 2019.
  • Funds reported $12.3B of iShares MSCI USA Quality Factor ETF stock for Q4 2019, up 44% quarter-over-quarter.
  • 188 funds opened new iShares MSCI USA Quality Factor ETF positions in Q4 2019 and 29 closed out, a net change of +159 holders.
  • The largest iShares MSCI USA Quality Factor ETF buyer in Q4 2019 was Envestnet Asset Management, an estimated $867M added.
  • The largest iShares MSCI USA Quality Factor ETF seller in Q4 2019 was M&T Bank, an estimated $218M sold.

Based on aggregated 13F filings for Q4 2019.