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iShares MSCI USA Quality Factor ETF
QUAL

1,167 hedge funds and large institutions have $32.8B invested in iShares MSCI USA Quality Factor ETF in 2023 Q4 according to their latest regulatory filings, with 195 funds opening new positions, 508 increasing their positions, 353 reducing their positions, and 56 closing their positions.

New
Increased
Maintained
Reduced
Closed

248% more first-time investments, than exits

New positions opened: 195 | Existing positions closed: 56

50% more call options, than puts

Call options by funds: $4.93M | Put options by funds: $3.3M

44% more repeat investments, than reductions

Existing positions increased: 508 | Existing positions reduced: 353

21% more capital invested

Capital invested by funds: $27B → $32.8B (+$5.8B)

12% more funds holding in top 10

Funds holding in top 10: 185 → 208 (+23)

12% more funds holding

Funds holding: 1,045 → 1,167 (+122)

4.22% more ownership

Funds ownership: 86.96% → 91.18% (+4.2%)

Holders
1,167
Holders Change
+122
Holders Change %
+11.67%
% of All Funds
17.01%
Holding in Top 10
208
Holding in Top 10 Change
+23
Holding in Top 10 Change %
+12.43%
% of All Funds
3.03%
New
195
Increased
508
Reduced
353
Closed
56
Calls
$4.93M
Puts
$3.3M
Net Calls
+$1.63M
Net Calls Change
+$1.09M

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$1.21B
2
JP Morgan Chase
JP Morgan Chase
New York
+$216M
3
LPL Financial
LPL Financial
California
+$134M
4
Wells Fargo
Wells Fargo
California
+$124M
5
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$121M

Top Sellers

Rank Fund Capital Flow
1
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$227M
2
Osaic Holdings
Osaic Holdings
Arizona
-$170M
3
HI
Horizon Investments
North Carolina
-$96.8M
4
SC
Savant Capital
Illinois
-$73.6M
5
BlackRock
BlackRock
New York
-$50M
Name Holding Trade Value Shares
Change 		Change in
Stake
AWM
51
AE Wealth Management
Kansas
$88.2M +$2.7M +19,521 +3%
Franklin Resources
52
Franklin Resources
California
$87M +$4.49M +32,439 +6%
JC
53
JB Capital
Connecticut
$81.9M +$2.9M +20,952 +4%
SMA
54
Sage Mountain Advisors
Georgia
$81.7M +$875K +6,322 +1%
OWP
55
Obermeyer Wealth Partners
Colorado
$79.7M +$1.89M +13,671 +3%
Cambridge Investment Research Advisors
56
Cambridge Investment Research Advisors
Iowa
$79.1M +$7.18M +51,842 +11%
PA
57
Parallel Advisors
California
$78.2M -$14.3M -103,305 -16%
SC
58
Savant Capital
Illinois
$77.4M -$73.6M -531,410 -50%
US Bancorp
59
US Bancorp
Minnesota
$72.8M +$1.96M +14,190 +3%
RCG
60
Resource Consulting Group
Florida
$71.7M +$5.64M +40,769 +9%
PCIA
61
Prime Capital Investment Advisors
Kansas
$71.2M +$4.15M +30,010 +7%
CAN
62
Cetera Advisor Networks
California
$70.2M +$5.05M +36,469 +8%
NA
63
NewEdge Advisors
Louisiana
$70M +$1.6M +11,549 +3%
DADC
64
D.A. Davidson & Co
Montana
$70M +$1.05M +7,597 +2%
CAM
65
Cresset Asset Management
Illinois
$69.2M +$5.47M +39,485 +9%
GI
66
Gradient Investments
Minnesota
$67M +$1.52M +11,012 +2%
AWS
67
Atria Wealth Solutions
New York
$66.8M +$3.53M +25,473 +6%
BAAM
68
Baker Avenue Asset Management
California
$66.3M +$3.11M +22,484 +5%
JIC
69
Johnson Investment Counsel
Ohio
$64.8M +$815K +5,888 +1%
UA
70
Unison Advisors
District of Columbia
$64M +$847K +6,116 +1%
OWM
71
Orgel Wealth Management
Wisconsin
$63.3M +$7.52M +54,333 +14%
Two Sigma Investments
72
Two Sigma Investments
New York
$62.5M -$20.7M -149,200 -26%
KAS
73
Kestra Advisory Services
Texas
$62.3M +$25.2M +181,678 +75%
WSTAM
74
Wilbanks Smith & Thomas Asset Management
Virginia
$61.6M +$15.9M +115,177 +38%
FIA
75
Foundations Investment Advisors
Arizona
$61.2M -$11.9M -85,771 -18%
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QUAL Hedge Fund Activity: Q4 2023 in Review

1,167 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI USA Quality Factor ETF (QUAL) for Q4 2023, worth a combined $32.8B — up 21% from $27B a quarter earlier.

Buyers outnumbered sellers: 195 funds opened new QUAL positions and 56 closed out — a net gain of 139 holders — while 508 added to existing stakes and 353 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $1.21B. The largest seller was PNC Financial Services Group, cutting an estimated $227M.

  • 1,167 institutional investors held iShares MSCI USA Quality Factor ETF (QUAL) as of Q4 2023, up from 1,045 in Q3 2023.
  • Funds reported $32.8B of iShares MSCI USA Quality Factor ETF stock for Q4 2023, up 21% quarter-over-quarter.
  • 195 funds opened new iShares MSCI USA Quality Factor ETF positions in Q4 2023 and 56 closed out, a net change of +139 holders.
  • The largest iShares MSCI USA Quality Factor ETF buyer in Q4 2023 was Morgan Stanley, an estimated $1.21B added.
  • The largest iShares MSCI USA Quality Factor ETF seller in Q4 2023 was PNC Financial Services Group, an estimated $227M sold.

Based on aggregated 13F filings for Q4 2023.