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Invesco Aerospace & Defense ETF
PPA

446 hedge funds and large institutions have $3.65B invested in Invesco Aerospace & Defense ETF in 2025 Q3 according to their latest regulatory filings, with 61 funds opening new positions, 197 increasing their positions, 103 reducing their positions, and 34 closing their positions.

New
Increased
Maintained
Reduced
Closed

91% more repeat investments, than reductions

Existing positions increased: 197 | Existing positions reduced: 103

79% more first-time investments, than exits

New positions opened: 61 | Existing positions closed: 34

17% more capital invested

Capital invested by funds: $3.13B → $3.65B (+$519M)

13% more funds holding in top 10

Funds holding in top 10: 8 → 9 (+1)

4% more funds holding

Funds holding: 427 → 446 (+19)

0.09% more ownership

Funds ownership: 55.1% → 55.19% (+0.09%)

39% less call options, than puts

Call options by funds: $62.8M | Put options by funds: $103M

Holders
446
Holders Change
+19
Holders Change %
+4.45%
% of All Funds
5.85%
Holding in Top 10
9
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+12.5%
% of All Funds
0.12%
New
61
Increased
197
Reduced
103
Closed
34
Calls
$62.8M
Puts
$103M
Net Calls
-$40.3M
Net Calls Change
-$35.9M

Top Buyers

1
Bank of America
Bank of America
North Carolina
+$25.5M
2
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$23.5M
3
Ameriprise
Ameriprise
Minnesota
+$17.9M
4
Mirae Asset Global Investments
Mirae Asset Global Investments
South Korea
+$14.5M
5
QC
Quadrature Capital
United Kingdom
+$14.4M

Top Sellers

1
KAS
Kestra Advisory Services
Texas
-$34.2M
2
MCM
MAI Capital Management
Ohio
-$7.55M
3
NG
Norden Group
Utah
-$6.64M
4
CAAS
Capital Asset Advisory Services
Michigan
-$4.16M
5
AWM
Axxcess Wealth Management
California
-$3.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
HIA
301
Harbor Investment Advisory
Maryland
$299K – – –
AWA
302
Arete Wealth Advisors
Illinois
$294K +$278K +1,890 New
AI
303
Auour Investments
Massachusetts
$292K +$22.4K +152 +9%
MCG
304
McCollum Christoferson Group
New York
$288K – – –
DFA
305
Davies Financial Advisors
California
$281K -$11.9K -81 -4%
MCA
306
Millennium Capital Advisors
Arkansas
$280K – – –
DT
307
Diversified Trust
Tennessee
$280K +$265K +1,800 New
RRA
308
Round Rock Advisors
Connecticut
$278K – – –
TA
309
Tectonic Advisors
Texas
$278K +$8.68K +59 +3%
WIA
310
World Investment Advisors
California
$276K +$261K +1,777 New
OIA
311
OneDigital Investment Advisors
Kansas
$273K +$5.88K +40 +2%
IA
312
IFG Advisory
Georgia
$271K +$21.5K +146 +9%
MWAM
313
Manhattan West Asset Management
California
$269K – – –
RZH
314
Relyea Zuckerberg Hanson
Connecticut
$268K – – –
MF
315
Meridian Financial
Massachusetts
$264K +$29.4K +200 +13%
HFS
316
Howard Financial Services
Texas
$263K +$3.83K +26 +2%
AG
317
Ascent Group
Virginia
$262K +$7.5K +51 +3%
XT
318
XTX Topco
Cayman Islands
$260K +$246K +1,673 New
KLCM
319
KG&L Capital Management
Louisiana
$257K +$243K +1,655 New
CQWA
320
Chokshi & Queen Wealth Advisors
California
$257K – – –
UAS
321
United Asset Strategies
New York
$256K – – –
LGA
322
Lebenthal Global Advisors
New York
$255K – – –
CD
323
Chapin Davis
Maryland
$255K +$147 +1 +0.1%
BAM
324
Bellevue Asset Management
Washington
$254K +$147 +1 +0.1%
AI
325
Arrien Investments
Idaho
$248K – – –
11 12
13
14 15

PPA Hedge Fund Activity: Q3 2025 in Review

446 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Invesco Aerospace & Defense ETF (PPA) for Q3 2025, worth a combined $3.65B — up 17% from $3.13B a quarter earlier.

Buyers outnumbered sellers: 61 funds opened new PPA positions and 34 closed out — a net gain of 27 holders — while 197 added to existing stakes and 103 trimmed.

The largest buyer was Bank of America, adding an estimated $25.5M. The largest seller was Kestra Advisory Services, cutting an estimated $34.2M.

  • 446 institutional investors held Invesco Aerospace & Defense ETF (PPA) as of Q3 2025, up from 427 in Q2 2025.
  • Funds reported $3.65B of Invesco Aerospace & Defense ETF stock for Q3 2025, up 17% quarter-over-quarter.
  • 61 funds opened new Invesco Aerospace & Defense ETF positions in Q3 2025 and 34 closed out, a net change of +27 holders.
  • The largest Invesco Aerospace & Defense ETF buyer in Q3 2025 was Bank of America, an estimated $25.5M added.
  • The largest Invesco Aerospace & Defense ETF seller in Q3 2025 was Kestra Advisory Services, an estimated $34.2M sold.

Based on aggregated 13F filings for Q3 2025.