iShares MSCI USA Min Vol Factor ETF
USMV
1,300 hedge funds and large institutions have $17B invested in iShares MSCI USA Min Vol Factor ETF in 2025 Q2 according to their latest regulatory filings, with 92 funds opening new positions, 450 increasing their positions, 525 reducing their positions, and 73 closing their positions.
26% more first-time investments, than exits
New positions opened: 92 | Existing positions closed: 73
0% more funds holding
Funds holding: 1,298 → 1,300 (+2)
5% less capital invested
Capital invested by funds: $17.8B → $17B (-$824M)
2.96% less ownership
Funds ownership: 74.12% → 71.15% (-3%)
14% less repeat investments, than reductions
Existing positions increased: 450 | Existing positions reduced: 525
21% less funds holding in top 10
Funds holding in top 10: 102 → 81 (-21)
60% less call options, than puts
Call options by funds: $2.98M | Put options by funds: $7.48M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Investments
New York
|
+$145M |
| 2 |
Ameriprise
Minneapolis,
Minnesota
|
+$41.6M |
| 3 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$41M |
| 4 |
LPL Financial
San Diego,
California
|
+$40.2M |
| 5 |
Truist Financial
Charlotte,
North Carolina
|
+$40.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$458M |
| 2 |
APF
Alaska Permanent Fund
Juneau,
Alaska
|
-$270M |
| 3 |
Cerity Partners
New York
|
-$97.6M |
| 4 |
LMIM
Lockheed Martin Investment Management
Bethesda,
Maryland
|
-$66.2M |
| 5 |
GWM
Geneos Wealth Management
Englewood,
Colorado
|
-$59.3M |
USMV Hedge Fund Activity: Q2 2025 in Review
1,300 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI USA Min Vol Factor ETF (USMV) for Q2 2025, worth a combined $17B — down 4.6% from $17.8B a quarter earlier.
Buyers outnumbered sellers: 92 funds opened new USMV positions and 73 closed out — a net gain of 19 holders — while 450 added to existing stakes and 525 trimmed.
The largest buyer was Two Sigma Investments, adding an estimated $145M. The largest seller was Morgan Stanley, cutting an estimated $458M.
- 1,300 institutional investors held iShares MSCI USA Min Vol Factor ETF (USMV) as of Q2 2025, up from 1,298 in Q1 2025.
- Funds reported $17B of iShares MSCI USA Min Vol Factor ETF stock for Q2 2025, down 4.6% quarter-over-quarter.
- 92 funds opened new iShares MSCI USA Min Vol Factor ETF positions in Q2 2025 and 73 closed out, a net change of +19 holders.
- The largest iShares MSCI USA Min Vol Factor ETF buyer in Q2 2025 was Two Sigma Investments, an estimated $145M added.
- The largest iShares MSCI USA Min Vol Factor ETF seller in Q2 2025 was Morgan Stanley, an estimated $458M sold.
Based on aggregated 13F filings for Q2 2025.