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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
HI
426
Hoey Investments
Pennsylvania
$9.91K +$441 +3 +5%
CNBT
427
Cornerstone National Bank & Trust
Illinois
$9.48K – – –
Bessemer Group
428
Bessemer Group
New Jersey
$9K +$8.83K +60 New
GWS
429
Glassman Wealth Services
Virginia
$7.93K – – –
LI
430
LRI Investments
Florida
$7.77K – – –
MHR
431
Matthew Hamilton Rosenberg
$7.62K – – –
BGC
432
Beutel, Goodman & Co
Ontario, Canada
$7K – – –
Franklin Resources
433
Franklin Resources
California
$6.68K -$294 -2 -4%
CAM
434
Costello Asset Management
Pennsylvania
$6.62K +$147 +1 +2%
ACM
435
Anfield Capital Management
California
$5.6K – – –
VWM
436
Vermillion Wealth Management
Minnesota
$5.13K +$4.86K +33 New
HWA
437
HHM Wealth Advisors
Tennessee
$4.98K – – –
YDMI
438
Y.D. More Investments
Israel
$3.89K – – –
CTC
439
Central Trust Company
Missouri
$3.42K – – –
CTWM
440
Cherry Tree Wealth Management
Minnesota
$3.27K – – –
CA
441
Crewe Advisors
Utah
$3.11K – – –
GWSA
442
Global Wealth Strategies & Associates
Colorado
$2.18K +$2.06K +14 New
BC
443
Barrett & Company
Rhode Island
$2.02K – – –
HB
444
Horizon Bancorp
Indiana
$2K – – –
DSC
445
Duncker Streett & Co
Missouri
$1.4K – – –
BWM
446
Bernard Wealth Management
Michigan
$311 +$294 +2 New
SGK
447
Steigerwald Gordon & Koch
Virginia
$155 +$147 +1 New
NG
448
Norden Group
Utah
– -$6.64M -46,899 Closed
AC
449
ASB Consultores
Florida
– -$3.55M -25,063 Closed
Thrivent Financial for Lutherans
450
Thrivent Financial for Lutherans
Minnesota
– -$2.19M -15,450 Closed
16 17
18
19 20

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.