iShares MSCI USA Quality Factor ETF
QUAL
1,517 hedge funds and large institutions have $45.7B invested in iShares MSCI USA Quality Factor ETF in 2025 Q3 according to their latest regulatory filings, with 105 funds opening new positions, 505 increasing their positions, 696 reducing their positions, and 70 closing their positions.
70% more call options, than puts
Call options by funds: $4.36M | Put options by funds: $2.57M
50% more first-time investments, than exits
New positions opened: 105 | Existing positions closed: 70
1% more funds holding
Funds holding: 1,507 → 1,517 (+10)
1% less capital invested
Capital invested by funds: $46.3B → $45.7B (-$525M)
1.14% less ownership
Funds ownership: 87.33% → 86.19% (-1.1%)
8% less funds holding in top 10
Funds holding in top 10: 237 → 218 (-19)
27% less repeat investments, than reductions
Existing positions increased: 505 | Existing positions reduced: 696
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$200M |
| 2 |
Two Sigma Investments
New York
|
+$181M |
| 3 |
CCM
Coldstream Capital Management
Bellevue,
Washington
|
+$112M |
| 4 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
+$62.5M |
| 5 |
PCG
Prosperity Consulting Group
Owings Mills,
Maryland
|
+$40.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
-$1.2B |
| 2 |
MML Investors Services
Springfield,
Massachusetts
|
-$180M |
| 3 |
LPL Financial
San Diego,
California
|
-$177M |
| 4 |
Wells Fargo
San Francisco,
California
|
-$170M |
| 5 |
MMA
Miracle Mile Advisors
Los Angeles,
California
|
-$134M |
QUAL Hedge Fund Activity: Q3 2025 in Review
1,517 of the 7,638 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI USA Quality Factor ETF (QUAL) for Q3 2025, worth a combined $45.7B — down 1.1% from $46.3B a quarter earlier.
Buyers outnumbered sellers: 105 funds opened new QUAL positions and 70 closed out — a net gain of 35 holders — while 505 added to existing stakes and 696 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $200M. The largest seller was Envestnet Asset Management, cutting an estimated $1.2B.
- 1,517 institutional investors held iShares MSCI USA Quality Factor ETF (QUAL) as of Q3 2025, up from 1,507 in Q2 2025.
- Funds reported $45.7B of iShares MSCI USA Quality Factor ETF stock for Q3 2025, down 1.1% quarter-over-quarter.
- 105 funds opened new iShares MSCI USA Quality Factor ETF positions in Q3 2025 and 70 closed out, a net change of +35 holders.
- The largest iShares MSCI USA Quality Factor ETF buyer in Q3 2025 was Fidelity Investments, an estimated $200M added.
- The largest iShares MSCI USA Quality Factor ETF seller in Q3 2025 was Envestnet Asset Management, an estimated $1.2B sold.
Based on aggregated 13F filings for Q3 2025.