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iShares MSCI USA Quality Factor ETF
QUAL

916 hedge funds and large institutions have $22.9B invested in iShares MSCI USA Quality Factor ETF in 2023 Q1 according to their latest regulatory filings, with 169 funds opening new positions, 358 increasing their positions, 273 reducing their positions, and 54 closing their positions.

New
Increased
Maintained
Reduced
Closed

213% more first-time investments, than exits

New positions opened: 169 | Existing positions closed: 54

134% more call options, than puts

Call options by funds: $3.82M | Put options by funds: $1.63M

66% more capital invested

Capital invested by funds: $13.8B → $22.9B (+$9.1B)

52% more funds holding in top 10

Funds holding in top 10: 99 → 150 (+51)

31% more repeat investments, than reductions

Existing positions increased: 358 | Existing positions reduced: 273

11% more funds holding

Funds holding: 824 → 916 (+92)

9.27% more ownership

Funds ownership: 77.63% → 86.9% (+9.3%)

Holders
916
Holders Change
+92
Holders Change %
+11.17%
% of All Funds
14.6%
Holding in Top 10
150
Holding in Top 10 Change
+51
Holding in Top 10 Change %
+51.52%
% of All Funds
2.39%
New
169
Increased
358
Reduced
273
Closed
54
Calls
$3.82M
Puts
$1.63M
Net Calls
+$2.19M
Net Calls Change
+$7.71M

Top Buyers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$2.95B
2
BlackRock
BlackRock
New York
+$486M
3
LPL Financial
LPL Financial
California
+$468M
4
Carson Wealth (CWM LLC)
Carson Wealth (CWM LLC)
Nebraska
+$430M
5
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
+$405M

Top Sellers

Rank Fund Capital Flow
1
PCM
PAR Capital Management
Massachusetts
-$187M
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$57.8M
3
ACM
Advisors Capital Management
New Jersey
-$45.4M
4
B
Barings
North Carolina
-$37.9M
5
AWS
AJ Wealth Strategies
New York
-$31.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
DADC
51
D.A. Davidson & Co
Montana
$56.2M +$381K +3,176 +0.7%
AWS
52
Atria Wealth Solutions
New York
$56.1M +$30.8M +256,915 +131%
UA
53
Unison Advisors
District of Columbia
$55.2M +$23.4M +195,323 +78%
NA
54
NewEdge Advisors
Louisiana
$54.6M +$43.3M +360,982 +456%
CAN
55
Cetera Advisor Networks
California
$54.4M +$36.2M +301,768 +221%
JIC
56
Johnson Investment Counsel
Ohio
$53M -$1.19M -9,949 -2%
AWM
57
AE Wealth Management
Kansas
$52.5M +$36.4M +303,322 +252%
SOMRS
58
State of Michigan Retirement System
Michigan
$52.4M -$4.81M -40,050 -9%
GI
59
Gradient Investments
Minnesota
$51.3M -$1.61M -13,378 -3%
1WM
60
1900 Wealth Management
Texas
$51.2M -$366K -3,047 -0.7%
US Bancorp
61
US Bancorp
Minnesota
$51.1M -$12.3M -102,739 -20%
SC
62
Schoolcraft Capital
Colorado
$49.4M +$150K +1,249 +0.3%
IDA
63
Intelligence Driven Advisers
California
$48.5M +$681K +5,676 +1%
RJFSA
64
Raymond James Financial Services Advisors
Florida
$47.9M +$420K +3,497 +0.9%
NAM
65
Nissay Asset Management
Japan
$47.2M +$29.4M +244,750 +180%
BAAM
66
Baker Avenue Asset Management
California
$45.8M +$1.63M +13,557 +4%
TC
67
Trilogy Capital
California
$45.2M +$1.11M +9,276 +3%
CHP
68
Cable Hill Partners
Oregon
$45.1M +$5.2M +43,345 +14%
AIA
69
Angeles Investment Advisors
California
$44.7M +$43.3M +360,500 New
PA
70
Pinnacle Associates
New York
$43.5M +$458K +3,818 +1%
OWM
71
Orgel Wealth Management
Wisconsin
$43.2M +$1.07M +8,917 +3%
HFS
72
Howard Financial Services
Texas
$43M -$1.15M -9,588 -3%
Thrivent Financial for Lutherans
73
Thrivent Financial for Lutherans
Minnesota
$41.5M +$15.7M +131,039 +64%
FA
74
Financial Advisors
Massachusetts
$41.4M +$1.09M +9,058 +3%
CAM
75
Cresset Asset Management
Illinois
$40.8M +$364K +3,032 +0.9%
1 2
3
4 5

QUAL Hedge Fund Activity: Q1 2023 in Review

916 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI USA Quality Factor ETF (QUAL) for Q1 2023, worth a combined $22.9B — up 66% from $13.8B a quarter earlier.

Buyers outnumbered sellers: 169 funds opened new QUAL positions and 54 closed out — a net gain of 115 holders — while 358 added to existing stakes and 273 trimmed.

The largest buyer was Envestnet Asset Management, adding an estimated $2.95B. The largest seller was PAR Capital Management, exiting entirely with an estimated $187M sold.

  • 916 institutional investors held iShares MSCI USA Quality Factor ETF (QUAL) as of Q1 2023, up from 824 in Q4 2022.
  • Funds reported $22.9B of iShares MSCI USA Quality Factor ETF stock for Q1 2023, up 66% quarter-over-quarter.
  • 169 funds opened new iShares MSCI USA Quality Factor ETF positions in Q1 2023 and 54 closed out, a net change of +115 holders.
  • The largest iShares MSCI USA Quality Factor ETF buyer in Q1 2023 was Envestnet Asset Management, an estimated $2.95B added.
  • The largest iShares MSCI USA Quality Factor ETF seller in Q1 2023 was PAR Capital Management, an estimated $187M sold.

Based on aggregated 13F filings for Q1 2023.