Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF
PDN
96 hedge funds and large institutions have $210M invested in Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF in 2025 Q2 according to their latest regulatory filings, with 8 funds opening new positions, 33 increasing their positions, 32 reducing their positions, and 11 closing their positions.
3% more repeat investments, than reductions
Existing positions increased: 33 | Existing positions reduced: 32
6% less funds holding
Funds holding: 102 → 96 (-6)
9.81% less ownership
Funds ownership: 68.41% → 58.6% (-9.8%)
22% less capital invested
Capital invested by funds: $270M → $210M (-$60.6M)
27% less first-time investments, than exits
New positions opened: 8 | Existing positions closed: 11
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$6.45M |
| 2 |
LPL Financial
San Diego,
California
|
+$6.21M |
| 3 |
Goldman Sachs
New York
|
+$3.66M |
| 4 |
Jane Street
New York
|
+$2.66M |
| 5 |
Citadel Advisors
Miami,
Florida
|
+$1.42M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Charles Schwab
San Francisco,
California
|
-$104M |
| 2 |
Invesco
Atlanta,
Georgia
|
-$7.76M |
| 3 |
FTUS
Flow Traders U.S.
New York
|
-$1.9M |
| 4 |
CIC
Cutler Investment Counsel
Jacksonville,
Oregon
|
-$744K |
| 5 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$473K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
SFGP
101
Stonebridge Financial Group (Pennsylvania)
Wormleysburg,
Pennsylvania
| – | -$13.7K | -410 | Closed |
|
|
SPIA
102
Steward Partners Investment Advisory
New York
| – | -$13.4K | -401 | Closed |
|
103
Toronto Dominion Bank
Toronto, Ontario,
Ontario, Canada
| – | -$3.35K | -100 | Closed |
|
|
FW
104
Fairway Wealth
Independence,
Ohio
| – | -$2.24K | -67 | Closed |
|
|
FMII
105
Farmers & Merchants Investments Inc
Lincoln,
Nebraska
| – | -$1.81K | -54 | Closed |
|
|
MG
106
Mather Group
Chicago,
Illinois
| – | -$1.71K | -51 | Closed |
|
|
NP
107
NorthRock Partners
Minneapolis,
Minnesota
| – | -$1.14K | -34 | Closed |
|
|
AA
108
Ancora Advisors
Cleveland,
Ohio
| – | -$67 | -2 | Closed |
|
PDN Hedge Fund Activity: Q2 2025 in Review
96 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF (PDN) for Q2 2025, worth a combined $210M — down 22% from $270M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of PDN and 8 opened new positions — a net loss of 3 holders — while 32 trimmed existing stakes and 33 added.
The largest buyer was Focus Partners Wealth, adding an estimated $6.45M. The largest seller was Charles Schwab, cutting an estimated $104M.
- 96 institutional investors held Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF (PDN) as of Q2 2025, down from 102 in Q1 2025.
- Funds reported $210M of Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF stock for Q2 2025, down 22% quarter-over-quarter.
- 8 funds opened new Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF positions in Q2 2025 and 11 closed out, a net change of -3 holders.
- The largest Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF buyer in Q2 2025 was Focus Partners Wealth, an estimated $6.45M added.
- The largest Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF seller in Q2 2025 was Charles Schwab, an estimated $104M sold.
Based on aggregated 13F filings for Q2 2025.