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Invesco Dorsey Wright Developed Markets Momentum ETF
PIZ

95 hedge funds and large institutions have $400M invested in Invesco Dorsey Wright Developed Markets Momentum ETF in 2025 Q4 according to their latest regulatory filings, with 22 funds opening new positions, 47 increasing their positions, 17 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

340% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 5

176% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 17

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

20% more capital invested

Capital invested by funds: $333M → $400M (+$67.6M)

20% more funds holding

Funds holding: 79 → 95 (+16)

2.83% more ownership

Funds ownership: 73.02% → 75.85% (+2.8%)

Holders
95
Holders Change
+16
Holders Change %
+20.25%
% of All Funds
1.16%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
22
Increased
47
Reduced
17
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$8.78M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$7.49M
3
LPL Financial
LPL Financial
California
+$6.73M
4
Citadel Advisors
Citadel Advisors
Florida
+$6.23M
5
Morgan Stanley
Morgan Stanley
New York
+$5.7M

Top Sellers

Rank Fund Capital Flow
1
NC
NewSquare Capital
Pennsylvania
-$1.73M
2
FMP
Financial Management Professionals
Texas
-$1.6M
3
Jane Street
Jane Street
New York
-$642K
4
Wealth Enhancement Advisory Services
Wealth Enhancement Advisory Services
Minnesota
-$508K
5
MCM
Monument Capital Management
Virginia
-$332K
Name Holding Trade Value Shares
Change 		Change in
Stake
BI
76
Bolthouse Investments
California
$205K +$201K +4,190 New
GWM
77
Geneos Wealth Management
Colorado
$191K +$165K +3,425 +729%
SPIA
78
Steward Partners Investment Advisory
New York
$173K +$10.7K +222 +7%
FFA
79
Farther Finance Advisors
California
$160K – – –
AAP
80
Arax Advisory Partners
Colorado
$133K +$130K +2,712 New
FWA
81
Flagship Wealth Advisors
Massachusetts
$122K +$120K +2,500 New
WETS
82
Wealth Enhancement Trust Services
South Dakota
$97.3K +$95.5K +1,987 New
KAS
83
Kestra Advisory Services
Texas
$97.1K +$95.3K +1,982 New
SWM
84
Spire Wealth Management
Virginia
$80.2K -$3.85K -80 -5%
DFA
85
DHJJ Financial Advisors
Illinois
$76.6K – – –
GAFA
86
Garton & Associates Financial Advisors
Kentucky
$40.9K +$40.2K +836 New
Fidelity Investments
87
Fidelity Investments
Massachusetts
$39.9K +$4.57K +95 +13%
William Blair & Company
88
William Blair & Company
Illinois
$29.4K -$12K -250 -29%
GT
89
Glenmede Trust
Pennsylvania
$23.3K +$22.9K +476 New
KFI
90
Key Financial Inc
Pennsylvania
$19.9K – – –
AWM
91
AE Wealth Management
Kansas
$18K -$913 -19 -5%
IAIM
92
International Assets Investment Management
Florida
$14.4K +$14.1K +294 New
Qube Research & Technologies (QRT)
93
Qube Research & Technologies (QRT)
United Kingdom
$4.46K – – –
RIA
94
Realta Investment Advisors
Delaware
$1.96K +$1.92K +40 New
FHA
95
Flagship Harbor Advisors
Massachusetts
$735 +$721 +15 New
HNB
96
Huntington National Bank
Ohio
$24 – – –
FMP
97
Financial Management Professionals
Texas
– -$1.6M -33,490 Closed
ATPW
98
Ashton Thomas Private Wealth
Arizona
– -$302K -6,333 Closed
AAS
99
Ameritas Advisory Services
Nebraska
– -$15.9K -334 Closed
PS
100
Principal Securities
Iowa
– -$9.06K -190 Closed
1 2 3
4
5

PIZ Hedge Fund Activity: Q4 2025 in Review

95 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) for Q4 2025, worth a combined $400M — up 20% from $333M a quarter earlier.

Buyers outnumbered sellers: 22 funds opened new PIZ positions and 5 closed out — a net gain of 17 holders — while 47 added to existing stakes and 17 trimmed.

The largest buyer was Royal Bank of Canada, adding an estimated $8.78M. The largest seller was NewSquare Capital, cutting an estimated $1.73M.

  • 95 institutional investors held Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) as of Q4 2025, up from 79 in Q3 2025.
  • Funds reported $400M of Invesco Dorsey Wright Developed Markets Momentum ETF stock for Q4 2025, up 20% quarter-over-quarter.
  • 22 funds opened new Invesco Dorsey Wright Developed Markets Momentum ETF positions in Q4 2025 and 5 closed out, a net change of +17 holders.
  • The largest Invesco Dorsey Wright Developed Markets Momentum ETF buyer in Q4 2025 was Royal Bank of Canada, an estimated $8.78M added.
  • The largest Invesco Dorsey Wright Developed Markets Momentum ETF seller in Q4 2025 was NewSquare Capital, an estimated $1.73M sold.

Based on aggregated 13F filings for Q4 2025.