Invesco Dorsey Wright SmallCap Momentum ETF
DWAS
98 hedge funds and large institutions have $649M invested in Invesco Dorsey Wright SmallCap Momentum ETF in 2025 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 34 increasing their positions, 25 reducing their positions, and 12 closing their positions.
339% more capital inflows, than outflows
Capital inflows: $43.8M | Capital outflows: $9.99M
36% more repeat investments, than reductions
Existing positions increased: 34 | Existing positions reduced: 25
17% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 12
4.29% more ownership
Funds ownership: 82.03% → 86.32% (+4.3%)
1% more funds holding
Funds holding: 97 → 98 (+1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wealth Enhancement Advisory Services
Plymouth,
Minnesota
|
+$12M |
| 2 |
BNP Paribas Financial Markets
Paris,
France
|
+$8.56M |
| 3 |
Goldman Sachs
New York
|
+$6.38M |
| 4 |
Wells Fargo
San Francisco,
California
|
+$2.55M |
| 5 |
Stifel Financial
St. Louis,
Missouri
|
+$2.44M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$2.58M |
| 2 |
LPL Financial
San Diego,
California
|
-$1.99M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
-$1.64M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$856K |
| 5 |
IHT Wealth Management
Chicago,
Illinois
|
-$461K |
DWAS Hedge Fund Activity: Q4 2025 in Review
98 of the 8,288 institutional investors tracked by Wall St. Rank reported a position in Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) for Q4 2025, worth a combined $649M — up 11% from $585M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new DWAS positions and 12 closed out — a net gain of 2 holders — while 34 added to existing stakes and 25 trimmed.
The largest buyer was Wealth Enhancement Advisory Services, adding an estimated $12M. The largest seller was UBS Group, cutting an estimated $2.58M.
- 98 institutional investors held Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) as of Q4 2025, up from 97 in Q3 2025.
- Funds reported $649M of Invesco Dorsey Wright SmallCap Momentum ETF stock for Q4 2025, up 11% quarter-over-quarter.
- 14 funds opened new Invesco Dorsey Wright SmallCap Momentum ETF positions in Q4 2025 and 12 closed out, a net change of +2 holders.
- The largest Invesco Dorsey Wright SmallCap Momentum ETF buyer in Q4 2025 was Wealth Enhancement Advisory Services, an estimated $12M added.
- The largest Invesco Dorsey Wright SmallCap Momentum ETF seller in Q4 2025 was UBS Group, an estimated $2.58M sold.
Based on aggregated 13F filings for Q4 2025.