Who owns iShares MSCI USA Quality Factor ETF (QUAL)
Which tracked institutional funds hold QUAL, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See QUAL company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on QUAL is one-sided between 2026-Q1 and 2026-Q2: 8 added or opened and 1078 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
QUAL’s largest tracked holder by dollar value, FMR LLC, sizes it at 0.2% of its own reported 13F book, while the median holder sizes it at 0.8% of theirs — a 0.6pp gap the other way — the median holder sizes QUAL more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in QUAL divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 1630 tracked filers holding QUAL, 743 increased or opened the position and 744 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in QUAL between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 2
- RENAISSANCE TECHNOLOGIES LLC$9M
- MARSHALL WACE, LLP$2M
Full exits 1078
- ENVESTNET ASSET MANAGEMENT INC$3.4B
- LPL Financial LLC$3.1B
- MORGAN STANLEY$1.7B
- BANK OF AMERICA CORP /DE/$1.7B
- PNC FINANCIAL SERVICES GROUP, INC.$1.2B
- AMERIPRISE FINANCIAL INC$1.0B
Largest adds
- FMR LLC$812M
- BlackRock, Inc.$10M
- TUDOR INVESTMENT CORP ET AL$10M
- AQR CAPITAL MANAGEMENT LLC$8M
- TWO SIGMA INVESTMENTS, LP$7M
- CITADEL ADVISORS LLC$4M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| FMR LLC added | 19,505,608 | $4.3B | 12.4% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 17,774,161 | $3.4B | 9.9% | 2026-Q1 |
| LPL Financial LLC trimmed | 16,156,372 | $3.1B | 9.0% | 2026-Q1 |
| MORGAN STANLEY added | 9,065,644 | $1.7B | 5.1% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 8,741,641 | $1.7B | 4.9% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. trimmed | 6,138,151 | $1.2B | 3.4% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 5,422,601 | $1.0B | 3.0% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 4,184,791 | $780M | 2.3% | 2026-Q1 |
| Cerity Partners LLC added | 4,000,492 | $767M | 2.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 3,969,187 | $761M | 2.2% | 2026-Q1 |
| UBS Group AG added | 3,772,843 | $724M | 2.1% | 2026-Q1 |
| Orgel Wealth Management, LLC added | 3,292,676 | $632M | 1.8% | 2026-Q1 |
| Facet Wealth, Inc. added | 2,965,946 | $569M | 1.7% | 2026-Q1 |
| M&T Bank Corp added | 2,855,781 | $548M | 1.6% | 2026-Q1 |
| Blue Trust, Inc. trimmed | 2,694,660 | $517M | 1.5% | 2026-Q1 |
| KEYBANK NATIONAL ASSOCIATION/OH trimmed | 2,522,985 | $484M | 1.4% | 2026-Q1 |
| Focus Partners Wealth added | 2,400,332 | $461M | 1.3% | 2026-Q1 |
| BlackRock, Inc. trimmed | 1,889,810 | $415M | 1.2% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 1,902,886 | $365M | 1.1% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 1,900,969 | $365M | 1.1% | 2026-Q1 |
| CWM, LLC trimmed | 1,889,343 | $362M | 1.1% | 2026-Q1 |
| Richard Bernstein Advisors LLC added | 1,846,285 | $354M | 1.0% | 2026-Q1 |
| Haverford Trust Co added | 1,777,971 | $341M | 1.0% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 1,777,079 | $341M | 1.0% | 2026-Q1 |
| Empirical Financial Services, LLC d.b.a. Empirical Wealth Management added | 1,766,694 | $339M | 1.0% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 1,632,084 | $313M | 0.9% | 2026-Q1 |
| Cetera Investment Advisers added | 1,574,045 | $302M | 0.9% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 1,500,554 | $288M | 0.8% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 1,417,664 | $272M | 0.8% | 2026-Q1 |
| HighTower Advisors, LLC added | 1,349,671 | $259M | 0.8% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 1,340,055 | $257M | 0.7% | 2026-Q1 |
| Wharton Business Group, LLC trimmed | 1,201,810 | $231M | 0.7% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV trimmed | 1,161,409 | $223M | 0.6% | 2026-Q1 |
| COLDSTREAM CAPITAL MANAGEMENT INC added | 1,110,105 | $213M | 0.6% | 2026-Q1 |
| PARK AVENUE SECURITIES LLC added | 1,101,752 | $211M | 0.6% | 2026-Q1 |
| Envestnet Portfolio Solutions, Inc. trimmed | 1,014,939 | $195M | 0.6% | 2026-Q1 |
| Connecticut Wealth Management, LLC trimmed | 985,890 | $189M | 0.5% | 2026-Q1 |
| Kestra Investment Management, LLC added | 930,665 | $179M | 0.5% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 865,213 | $166M | 0.5% | 2026-Q1 |
| Bank of New York Mellon Corp added | 856,096 | $164M | 0.5% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 807,579 | $155M | 0.5% | 2026-Q1 |
| SCS Capital Management LLC trimmed | 797,152 | $153M | 0.4% | 2026-Q1 |
| Integrated Wealth Concepts LLC added | 785,050 | $151M | 0.4% | 2026-Q1 |
| SNS Financial Group, LLC added | 780,349 | $150M | 0.4% | 2026-Q1 |
| Foster Group, Inc. added | 750,295 | $144M | 0.4% | 2026-Q1 |
| OneDigital Investment Advisors LLC added | 691,130 | $133M | 0.4% | 2026-Q1 |
| &PARTNERS added | 665,712 | $128M | 0.4% | 2026-Q1 |
| Mariner, LLC trimmed | 654,854 | $126M | 0.4% | 2026-Q1 |
| Corient Private Wealth LLC trimmed | 643,262 | $123M | 0.4% | 2026-Q1 |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC added | 619,423 | $119M | 0.3% | 2026-Q1 |
| D.A. DAVIDSON & CO. added | 605,588 | $116M | 0.3% | 2026-Q1 |
| Sanctuary Advisors, LLC added | 604,311 | $116M | 0.3% | 2026-Q1 |
| Unison Advisors LLC added | 603,217 | $116M | 0.3% | 2026-Q1 |
| Foundations Investment Advisors, LLC added | 597,656 | $115M | 0.3% | 2026-Q1 |
| Sage Mountain Advisors LLC added | 577,602 | $111M | 0.3% | 2026-Q1 |
| Savant Capital, LLC trimmed | 536,934 | $103M | 0.3% | 2026-Q1 |
| Equitable Holdings, Inc. added | 517,330 | $103M | 0.3% | 2026-Q1 |
| JOHNSON INVESTMENT COUNSEL INC added | 502,976 | $96M | 0.3% | 2026-Q1 |
| HOWARD FINANCIAL SERVICES, LTD. trimmed | 502,864 | $96M | 0.3% | 2026-Q1 |
| Merit Financial Group, LLC added | 501,905 | $96M | 0.3% | 2026-Q1 |
| SAX WEALTH ADVISORS, LLC trimmed | 460,653 | $91M | 0.3% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. trimmed | 461,725 | $89M | 0.3% | 2026-Q1 |
| Prime Capital Investment Advisors, LLC trimmed | 459,443 | $88M | 0.3% | 2026-Q1 |
| Modern Wealth Management, LLC trimmed | 454,044 | $88M | 0.3% | 2026-Q1 |
| Obermeyer Wealth Partners trimmed | 455,785 | $87M | 0.3% | 2026-Q1 |
| Kestra Advisory Services, LLC trimmed | 443,371 | $85M | 0.2% | 2026-Q1 |
| PINNACLE ASSOCIATES LTD added | 429,470 | $82M | 0.2% | 2026-Q1 |
| Baker Avenue Asset Management, LP added | 424,179 | $81M | 0.2% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 432,898 | $81M | 0.2% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 411,517 | $79M | 0.2% | 2026-Q1 |
| Private Advisor Group, LLC added | 404,816 | $78M | 0.2% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS trimmed | 402,442 | $77M | 0.2% | 2026-Q1 |
| Advocacy Wealth Management, LLC trimmed | 402,172 | $77M | 0.2% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 401,444 | $77M | 0.2% | 2026-Q1 |
| JB Capital LLC added | 371,144 | $71M | 0.2% | 2026-Q1 |
| AdvisorShares Investments LLC new | 365,784 | $70M | 0.2% | 2026-Q1 |
| Beacon Pointe Advisors, LLC added | 348,994 | $67M | 0.2% | 2026-Q1 |
| SACHEM HILL LLC trimmed | 346,003 | $66M | 0.2% | 2026-Q1 |
| Cresset Asset Management, LLC trimmed | 339,751 | $65M | 0.2% | 2026-Q1 |
| Valence8 US LP trimmed | 337,336 | $65M | 0.2% | 2026-Q1 |
| STATE OF MICHIGAN RETIREMENT SYSTEM added | 324,549 | $62M | 0.2% | 2026-Q1 |
| True Link Financial Advisors, LLC added | 320,607 | $61M | 0.2% | 2026-Q1 |
| Horizon Investments, LLC added | 319,994 | $61M | 0.2% | 2026-Q1 |
| Strategies Wealth Advisors, LLC added | 312,815 | $60M | 0.2% | 2026-Q1 |
| LANDAAS & CO /WI /ADV trimmed | 308,026 | $59M | 0.2% | 2026-Q1 |
| Wilmington Savings Fund Society, FSB trimmed | 304,132 | $58M | 0.2% | 2026-Q1 |
| AE Wealth Management LLC trimmed | 301,971 | $58M | 0.2% | 2026-Q1 |
| Composition Wealth, LLC trimmed | 300,753 | $58M | 0.2% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC added | 289,121 | $55M | 0.2% | 2026-Q1 |
| TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC new | 288,758 | $55M | 0.2% | 2026-Q1 |
| Pinnacle Wealth Management Advisory Group, LLC added | 283,133 | $54M | 0.2% | 2026-Q1 |
| Baron Wealth Management LLC trimmed | 280,742 | $54M | 0.2% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 274,217 | $53M | 0.2% | 2026-Q1 |
| SYNOVUS FINANCIAL CORP added | 742,905 | $144M | 0.4% | 2025-Q3 stale |
| NewEdge Advisors, LLC trimmed | 714,153 | $142M | 0.4% | 2025-Q4 stale |
| Caisse de depot et placement du Quebec added | 545,242 | $106M | 0.3% | 2025-Q3 stale |
| Cable Hill Partners, LLC added | 429,606 | $73M | 0.2% | 2025-Q1 stale |
| Financial Advisors, LLC trimmed | 324,192 | $63M | 0.2% | 2025-Q3 stale |
| Atria Wealth Solutions, Inc. trimmed | 315,547 | $58M | 0.2% | 2025-Q2 stale |
| Provida Pension Fund Administrator added | 282,033 | $56M | 0.2% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.