SCHEDULE: PNC Financial Discloses 7.73% Stake in iShares ETF

The PNC Financial Services Group, Inc. reported a 7.73% beneficial ownership stake in the iShares MSCI Intl Quality Factor ETF as of September 30, 2025.

Summary

• The PNC Financial Services Group, Inc. reported beneficial ownership of 21,793,981 shares of iShares MSCI Intl Quality Factor ETF.
• This ownership represents a 7.73% stake in the class of securities.
• The shares are held through various PNC subsidiaries, including PNC Bank, National Association, PNC Delaware Trust Company, PNC Ohio Trust Company, and PNC Wealth Management LLC, primarily in a fiduciary capacity for clients.
• PNC holds sole voting power over 9,440,459 shares and shared voting power over 12,283,902 shares.
• PNC also holds sole dispositive power over 21,158,402 shares and shared dispositive power over 635,579 shares.

Sentiment

Score: 5

Explanation: The filing is a factual, routine disclosure of beneficial ownership and does not contain information that would significantly alter the sentiment towards the issuer or the reporting person.

Positives

• The significant beneficial ownership by a major financial institution like The PNC Financial Services Group, Inc. indicates institutional confidence and interest in the iShares MSCI Intl Quality Factor ETF.
• The holding is diversified across multiple PNC subsidiaries, reflecting broad client investment in the ETF.

Negatives

• This filing, a Schedule 13G, is a routine disclosure of beneficial ownership and does not inherently contain negative information regarding the issuer or the reporting person's financial health.

Risks

• No specific risks related to the issuer or the reporting person's operations are disclosed in this beneficial ownership filing.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding future performance or strategic plans.

Industry Context

This filing represents a routine disclosure by a major financial institution, The PNC Financial Services Group, Inc., of its significant passive beneficial ownership in an Exchange-Traded Fund (ETF). Such institutional holdings are common in the asset management industry, reflecting client investments in diversified funds like the iShares MSCI Intl Quality Factor ETF. It indicates ongoing institutional interest in international quality factor strategies.

Comparison to Industry Standards

• This filing is a standard Schedule 13G, which is a regulatory requirement for passive beneficial ownership exceeding 5%.
• The reported 7.73% stake by The PNC Financial Services Group, Inc. is a substantial institutional holding, comparable to other large asset managers or financial institutions that hold significant positions in ETFs on behalf of their clients.
• No specific comparable companies or projects are detailed within this filing, as it focuses solely on the reporting entity's ownership.

Stakeholder Impact

• Shareholders of iShares MSCI Intl Quality Factor ETF: The disclosure of a significant institutional holder like PNC may be viewed positively, indicating institutional confidence and liquidity.
• Clients of The PNC Financial Services Group, Inc.: The filing reflects PNC's role in managing client assets, holding a substantial stake in the ETF in a fiduciary capacity.
• The PNC Financial Services Group, Inc. Shareholders: This filing is a routine disclosure of assets under management and does not directly impact PNC's operational or financial performance.

Next Steps

• This filing does not outline any specific future actions, events, or milestones for either the issuer or the reporting person beyond the ongoing beneficial ownership.

Key Dates

Keywords

iShares MSCI Intl Quality Factor ETF, PNC Financial Services Group, ETF, Exchange-Traded Fund, Beneficial Ownership, Schedule 13G, Institutional Investor, Financial Services, Investment, Quality Factor