iShares MSCI USA Quality Factor ETF
QUAL
1,633 hedge funds and large institutions have $40.8B invested in iShares MSCI USA Quality Factor ETF in 2025 Q4 according to their latest regulatory filings, with 219 funds opening new positions, 450 increasing their positions, 741 reducing their positions, and 75 closing their positions.
192% more first-time investments, than exits
New positions opened: 219 | Existing positions closed: 75
20% more call options, than puts
Call options by funds: $2.05M | Put options by funds: $1.71M
8% more funds holding
Funds holding: 1,519 → 1,633 (+114)
0.89% less ownership
Funds ownership: 86.2% → 85.31% (-0.89%)
11% less capital invested
Capital invested by funds: $45.8B → $40.8B (-$4.94B)
16% less funds holding in top 10
Funds holding in top 10: 219 → 185 (-34)
39% less repeat investments, than reductions
Existing positions increased: 450 | Existing positions reduced: 741
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$362M |
| 2 |
Goldman Sachs
New York
|
+$175M |
| 3 |
EWM
Empirical Wealth Management
Seattle,
Washington
|
+$153M |
| 4 |
FWI
Facet Wealth Inc
Baltimore,
Maryland
|
+$51M |
| 5 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$47.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
-$1.84B |
| 2 |
LPL Financial
San Diego,
California
|
-$461M |
| 3 |
JP Morgan Chase
New York
|
-$379M |
| 4 |
Two Sigma Investments
New York
|
-$299M |
| 5 |
BlackRock
New York
|
-$243M |
QUAL Hedge Fund Activity: Q4 2025 in Review
1,633 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI USA Quality Factor ETF (QUAL) for Q4 2025, worth a combined $40.8B — down 11% from $45.8B a quarter earlier.
Buyers outnumbered sellers: 219 funds opened new QUAL positions and 75 closed out — a net gain of 144 holders — while 450 added to existing stakes and 741 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $362M. The largest seller was Envestnet Asset Management, cutting an estimated $1.84B.
- 1,633 institutional investors held iShares MSCI USA Quality Factor ETF (QUAL) as of Q4 2025, up from 1,519 in Q3 2025.
- Funds reported $40.8B of iShares MSCI USA Quality Factor ETF stock for Q4 2025, down 11% quarter-over-quarter.
- 219 funds opened new iShares MSCI USA Quality Factor ETF positions in Q4 2025 and 75 closed out, a net change of +144 holders.
- The largest iShares MSCI USA Quality Factor ETF buyer in Q4 2025 was Fidelity Investments, an estimated $362M added.
- The largest iShares MSCI USA Quality Factor ETF seller in Q4 2025 was Envestnet Asset Management, an estimated $1.84B sold.
Based on aggregated 13F filings for Q4 2025.