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iShares MSCI USA Quality Factor ETF

1,502 hedge funds and large institutions have $46.4B invested in iShares MSCI USA Quality Factor ETF in 2025 Q2 according to their latest regulatory filings, with 139 funds opening new positions, 657 increasing their positions, 496 reducing their positions, and 81 closing their positions.

New
Increased
Maintained
Reduced
Closed

72% more first-time investments, than exits

New positions opened: 139 | Existing positions closed: 81

32% more repeat investments, than reductions

Existing positions increased: 657 | Existing positions reduced: 496

29% more call options, than puts

Call options by funds: $3.27M | Put options by funds: $2.54M

8% more capital invested

Capital invested by funds: $42.8B → $46.4B (+$3.52B)

2% more funds holding

Funds holding: 1,4681,502 (+34)

0.74% more ownership

Funds ownership: 88.46%89.2% (+0.74%)

5% less funds holding in top 10

Funds holding in top 10: 248235 (-13)

Holders
1,502
Holders Change
+34
Holders Change %
+2.32%
% of All Funds
19.78%
Holding in Top 10
235
Holding in Top 10 Change
-13
Holding in Top 10 Change %
-5.24%
% of All Funds
3.09%
New
139
Increased
657
Reduced
496
Closed
81
Calls
$3.27M
Puts
$2.54M
Net Calls
+$731K
Net Calls Change
-$2.06M
Name Holding Trade Value Shares
Change
Change in
Stake
Envestnet Asset Management
1
Envestnet Asset Management
Illinois
$5.94B +$108M +624,581 +2%
LPL Financial
2
LPL Financial
California
$3.56B +$221M +1,278,462 +7%
Fidelity Investments
3
Fidelity Investments
Massachusetts
$2.68B -$146M -844,255 -5%
Morgan Stanley
4
Morgan Stanley
New York
$1.85B +$99.1M +573,981 +6%
Bank of America
5
Bank of America
North Carolina
$1.37B -$1.77M -10,252 -0.1%
PNC Financial Services Group
6
PNC Financial Services Group
Pennsylvania
$1.29B -$37.2M -215,735 -3%
JP Morgan Chase
7
JP Morgan Chase
New York
$1.28B +$8.78M +50,889 +0.7%
Wells Fargo
8
Wells Fargo
California
$952M -$32.8M -190,047 -4%
Ameriprise
9
Ameriprise
Minnesota
$909M -$29.2M -169,239 -3%
BlackRock
10
BlackRock
New York
$854M -$29.3M -169,804 -4%
UBS Group
11
UBS Group
Switzerland
$732M -$56.9M -329,597 -8%
Cerity Partners
12
Cerity Partners
New York
$687M +$184M +1,065,946 +40%
MML Investors Services
13
MML Investors Services
Massachusetts
$632M +$7.64M +44,285 +1%
Carson Wealth (CWM LLC)
14
Carson Wealth (CWM LLC)
Nebraska
$619M +$11.1M +64,226 +2%
M&T Bank
15
M&T Bank
New York
$606M -$6.27M -36,303 -1%
KeyBank National Association
16
KeyBank National Association
Ohio
$580M -$65.7M -380,729 -11%
OWM
17
Orgel Wealth Management
Wisconsin
$540M +$185M +1,070,608 +57%
BTI
18
Blue Trust Inc
Georgia
$486M +$56.5M +327,395 +14%
FWI
19
Facet Wealth Inc
Maryland
$461M +$30.2M +174,714 +8%
PAS
20
Park Avenue Securities
New York
$451M -$4.27M -24,738 -1%
Northwestern Mutual Wealth Management
21
Northwestern Mutual Wealth Management
Wisconsin
$442M +$8.23M +47,699 +2%
Envestnet Portfolio Solutions
22
Envestnet Portfolio Solutions
Illinois
$438M -$27.4M -158,632 -6%
Cetera Investment Advisers
23
Cetera Investment Advisers
Illinois
$386M -$5.92M -34,290 -2%
Focus Partners Wealth
24
Focus Partners Wealth
Massachusetts
$384M +$36.5M +211,244 +11%
Commonwealth Equity Services
25
Commonwealth Equity Services
Massachusetts
$363M +$7.78M +45,088 +2%

QUAL Hedge Fund Activity: Q2 2025 in Review

1,502 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI USA Quality Factor ETF (QUAL) for Q2 2025, worth a combined $46.4B — up 8.2% from $42.8B a quarter earlier.

Buyers outnumbered sellers: 139 funds opened new QUAL positions and 81 closed out — a net gain of 58 holders — while 657 added to existing stakes and 496 trimmed.

The largest buyer was Gallagher Fiduciary Advisors, adding an estimated $425M. The largest seller was BNP Paribas Financial Markets, cutting an estimated $467M.

  • 1,502 institutional investors held iShares MSCI USA Quality Factor ETF (QUAL) as of Q2 2025, up from 1,468 in Q1 2025.
  • Funds reported $46.4B of iShares MSCI USA Quality Factor ETF stock for Q2 2025, up 8.2% quarter-over-quarter.
  • 139 funds opened new iShares MSCI USA Quality Factor ETF positions in Q2 2025 and 81 closed out, a net change of +58 holders.
  • The largest iShares MSCI USA Quality Factor ETF buyer in Q2 2025 was Gallagher Fiduciary Advisors, an estimated $425M added.
  • The largest iShares MSCI USA Quality Factor ETF seller in Q2 2025 was BNP Paribas Financial Markets, an estimated $467M sold.

Based on aggregated 13F filings for Q2 2025.