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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
NFSG
901
Newbridge Financial Services Group
Florida
$6.62K -$5.04K -42 -44%
MAWA
902
Moss Adams Wealth Advisors
Washington
$6.33K +$4.68K +39 +325%
PA
903
PSI Advisors
Florida
$6.08K +$3K +25 +104%
CAM
904
Chesapeake Asset Management
New York
$5.46K +$5.28K +44 New
BHWM
905
Beaird Harris Wealth Management
Texas
$4.84K – – –
BSB
906
Bangor Savings Bank
Maine
$2.23K – – –
BBPWM
907
Blue Bell Private Wealth Management
Pennsylvania
$2.23K – – –
FGAM
908
Financial Gravity Asset Management
Texas
$2.2K +$2.11M +17,616 +15,453%
EWP
909
Elevation Wealth Partners
California
$2.11K +$2.04K +17 New
JHCP
910
Jackson Hole Capital Partners
Oklahoma
$1.86K -$2.28K -19 -56%
S
911
SignatureFD
Georgia
$1.74K – – –
MFC
912
Morris Financial Concepts
South Carolina
$1.36K – – –
PP
913
Pacifica Partners
Canada
$1.35K +$1.32K +11 New
CMP
914
Coston McIsaac & Partners
Maine
$1K – – –
FRA
915
Front Row Advisors
California
$1K – – –
GWANC
916
Guardian Wealth Advisors (North Carolina)
North Carolina
$993 – – –
AWA
917
Alaska Wealth Advisors
Alaska
$1 – – –
PCM
918
PAR Capital Management
Massachusetts
– -$187M -1,637,000 Closed
SAS
919
Sage Advisory Services
Texas
– -$24.9M -218,576 Closed
TWA
920
Tillar-Wenstrup Advisors
Ohio
– -$18.9M -165,511 Closed
JGC
921
J. Goldman & Co
New York
– -$2.6M -22,836 Closed
RWA
922
Rooted Wealth Advisors
Illinois
– -$1.64M -14,386 Closed
FFG
923
Ford Financial Group
California
– -$1.09M -9,529 Closed
PC
924
Permanens Capital
New York
– -$999K -8,768 Closed
WPW
925
Waldron Private Wealth
Pennsylvania
– -$906K -8,721 Closed
35 36
37
38 39

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.