Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF
PDN
101 hedge funds and large institutions have $194M invested in Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF in 2025 Q4 according to their latest regulatory filings, with 12 funds opening new positions, 31 increasing their positions, 35 reducing their positions, and 15 closing their positions.
2.54% less ownership
Funds ownership: 57.02% → 54.48% (-2.5%)
6% less funds holding
Funds holding: 107 → 101 (-6)
6% less capital invested
Capital invested by funds: $207M → $194M (-$13.1M)
11% less repeat investments, than reductions
Existing positions increased: 31 | Existing positions reduced: 35
20% less first-time investments, than exits
New positions opened: 12 | Existing positions closed: 15
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
+$963K |
| 2 |
BCI
Brinker Capital Investments
Berwyn,
Pennsylvania
|
+$307K |
| 3 |
Morgan Stanley
New York
|
+$272K |
| 4 |
Truist Financial
Charlotte,
North Carolina
|
+$196K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$180K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
-$6.78M |
| 2 |
Charles Schwab
San Francisco,
California
|
-$6.38M |
| 3 |
Focus Partners Wealth
Boston,
Massachusetts
|
-$4.35M |
| 4 |
Goldman Sachs
New York
|
-$1.38M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$1.18M |
PDN Hedge Fund Activity: Q4 2025 in Review
101 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF (PDN) for Q4 2025, worth a combined $194M — down 6.3% from $207M a quarter earlier.
Sellers outnumbered buyers: 15 funds closed out of PDN and 12 opened new positions — a net loss of 3 holders — while 35 trimmed existing stakes and 31 added.
The largest buyer was Invesco, adding an estimated $963K. The largest seller was LPL Financial, cutting an estimated $6.78M.
- 101 institutional investors held Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF (PDN) as of Q4 2025, down from 107 in Q3 2025.
- Funds reported $194M of Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF stock for Q4 2025, down 6.3% quarter-over-quarter.
- 12 funds opened new Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF positions in Q4 2025 and 15 closed out, a net change of -3 holders.
- The largest Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF buyer in Q4 2025 was Invesco, an estimated $963K added.
- The largest Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF seller in Q4 2025 was LPL Financial, an estimated $6.78M sold.
Based on aggregated 13F filings for Q4 2025.