Global X US Infrastructure Development ETF
PAVE
679 hedge funds and large institutions have $7.1B invested in Global X US Infrastructure Development ETF in 2025 Q4 according to their latest regulatory filings, with 109 funds opening new positions, 258 increasing their positions, 168 reducing their positions, and 40 closing their positions.
173% more first-time investments, than exits
New positions opened: 109 | Existing positions closed: 40
54% more repeat investments, than reductions
Existing positions increased: 258 | Existing positions reduced: 168
10% more funds holding
Funds holding: 619 → 679 (+60)
10% more funds holding in top 10
Funds holding in top 10: 21 → 23 (+2)
9% more capital invested
Capital invested by funds: $6.54B → $7.1B (+$560M)
3.11% more ownership
Funds ownership: 68.26% → 71.37% (+3.1%)
44% less call options, than puts
Call options by funds: $1.63M | Put options by funds: $2.92M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HIIFS
Harel Insurance Investments & Financial Services
Ramat Gan,
Israel
|
+$81.3M |
| 2 |
JP Morgan Chase
New York
|
+$53.1M |
| 3 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$41.7M |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
+$38.2M |
| 5 |
KIM
Kestra Investment Management
Austin,
Texas
|
+$32.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CI
Clal Insurance
Tel-Aviv,
Israel
|
-$29.8M |
| 2 |
Goldman Sachs
New York
|
-$10.8M |
| 3 |
DRS
Deane Retirement Strategies
New Orleans,
Louisiana
|
-$9.25M |
| 4 |
ETC
Exchange Traded Concepts
Oklahoma City,
Oklahoma
|
-$7.28M |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$6.78M |
PAVE Hedge Fund Activity: Q4 2025 in Review
679 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in Global X US Infrastructure Development ETF (PAVE) for Q4 2025, worth a combined $7.1B — up 8.6% from $6.54B a quarter earlier.
Buyers outnumbered sellers: 109 funds opened new PAVE positions and 40 closed out — a net gain of 69 holders — while 258 added to existing stakes and 168 trimmed.
The largest buyer was Harel Insurance Investments & Financial Services, adding an estimated $81.3M. The largest seller was Clal Insurance, cutting an estimated $29.8M.
- 679 institutional investors held Global X US Infrastructure Development ETF (PAVE) as of Q4 2025, up from 619 in Q3 2025.
- Funds reported $7.1B of Global X US Infrastructure Development ETF stock for Q4 2025, up 8.6% quarter-over-quarter.
- 109 funds opened new Global X US Infrastructure Development ETF positions in Q4 2025 and 40 closed out, a net change of +69 holders.
- The largest Global X US Infrastructure Development ETF buyer in Q4 2025 was Harel Insurance Investments & Financial Services, an estimated $81.3M added.
- The largest Global X US Infrastructure Development ETF seller in Q4 2025 was Clal Insurance, an estimated $29.8M sold.
Based on aggregated 13F filings for Q4 2025.