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iShares MSCI USA Quality Factor ETF
QUAL

184 hedge funds and large institutions have $2.67B invested in iShares MSCI USA Quality Factor ETF in 2017 Q4 according to their latest regulatory filings, with 55 funds opening new positions, 65 increasing their positions, 45 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

400% more first-time investments, than exits

New positions opened: 55 | Existing positions closed: 11

44% more repeat investments, than reductions

Existing positions increased: 65 | Existing positions reduced: 45

31% more funds holding

Funds holding: 140 → 184 (+44)

19% more capital invested

Capital invested by funds: $2.25B → $2.67B (+$427M)

17% more funds holding in top 10

Funds holding in top 10: 18 → 21 (+3)

2.85% more ownership

Funds ownership: 59.25% → 62.1% (+2.8%)

Holders
184
Holders Change
+44
Holders Change %
+31.43%
% of All Funds
4.17%
Holding in Top 10
21
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+16.67%
% of All Funds
0.48%
New
55
Increased
65
Reduced
45
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
+$52M
2
Wells Fargo
Wells Fargo
California
+$45.1M
3
AA
ALPS Advisors
Colorado
+$41.9M
4
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$19.1M
5
UBS Group
UBS Group
Switzerland
+$18.3M

Top Sellers

Rank Fund Capital Flow
1
USAA
United Services Automobile Association
Texas
-$16.8M
2
Jane Street
Jane Street
New York
-$10.2M
3
HI
Horizon Investments
North Carolina
-$4.2M
4
Bank of America
Bank of America
North Carolina
-$3.7M
5
Morgan Stanley
Morgan Stanley
New York
-$2.07M
Name Holding Trade Value Shares
Change 		Change in
Stake
FEG
126
Financial Enhancement Group
Indiana
$430K +$87.4K +1,084 +26%
SMFS
127
Squar Milner Financial Services
California
$430K +$394K +4,891 New
FLPIM
128
F.L. Putnam Investment Management
Massachusetts
$422K -$22.2K -275 -5%
CFA
129
Carroll Financial Associates
North Carolina
$418K +$143K +1,770 +54%
ATC
130
Argent Trust Co
Tennessee
$410K -$131K -1,630 -25%
KIC
131
Keating Investment Counselors
Florida
$406K -$1.65M -20,465 -81%
MC
132
Moors & Cabot
Massachusetts
$402K -$19K -236 -5%
BTW
133
Boston Trust Walden
Massachusetts
$392K – – –
APP
134
Avantax Planning Partners
Iowa
$387K -$584K -7,242 -61%
IAA
135
Independent Advisor Alliance
North Carolina
$384K +$373K +4,630 New
AFP
136
Ausdal Financial Partners
Iowa
$366K +$356K +4,416 New
FA
137
Fortis Advisors
Pennsylvania
$362K +$3.14K +39 +0.9%
PAG
138
Pinnacle Advisory Group
Maryland
$360K +$350K +4,345 New
WSFS
139
Wilmington Savings Fund Society
Delaware
$358K +$39.2K +486 +13%
Fifth Third Bancorp
140
Fifth Third Bancorp
Ohio
$350K +$97.1K +1,205 +40%
Millennium Management
141
Millennium Management
New York
$345K +$335K +4,161 New
JIC
142
Johnson Investment Counsel
Ohio
$337K – – –
NFG
143
Next Financial Group
Texas
$335K +$141K +1,745 +76%
GP
144
Geneva Partners
Wisconsin
$332K – – –
DWM
145
Darwin Wealth Management
Florida
$323K +$314K +3,892 New
Goldman Sachs
146
Goldman Sachs
New York
$280K -$326K -4,041 -54%
BIAS
147
Beacon Investment Advisory Services
New Jersey
$272K -$183K -2,275 -41%
SMG
148
Smart Money Group
Texas
$250K +$243K +3,011 New
GT
149
Glenmede Trust
Pennsylvania
$231K – – –
Comerica Bank
150
Comerica Bank
Texas
$230K +$212K +2,627 New
4 5
6
7 8

QUAL Hedge Fund Activity: Q4 2017 in Review

184 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI USA Quality Factor ETF (QUAL) for Q4 2017, worth a combined $2.67B — up 19% from $2.25B a quarter earlier.

Buyers outnumbered sellers: 55 funds opened new QUAL positions and 11 closed out — a net gain of 44 holders — while 65 added to existing stakes and 45 trimmed.

The largest buyer was BlackRock, adding an estimated $52M. The largest seller was United Services Automobile Association, cutting an estimated $16.8M.

  • 184 institutional investors held iShares MSCI USA Quality Factor ETF (QUAL) as of Q4 2017, up from 140 in Q3 2017.
  • Funds reported $2.67B of iShares MSCI USA Quality Factor ETF stock for Q4 2017, up 19% quarter-over-quarter.
  • 55 funds opened new iShares MSCI USA Quality Factor ETF positions in Q4 2017 and 11 closed out, a net change of +44 holders.
  • The largest iShares MSCI USA Quality Factor ETF buyer in Q4 2017 was BlackRock, an estimated $52M added.
  • The largest iShares MSCI USA Quality Factor ETF seller in Q4 2017 was United Services Automobile Association, an estimated $16.8M sold.

Based on aggregated 13F filings for Q4 2017.