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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
FAIM
451
Financial Advocates Investment Management
Washington
– -$1.37M -9,700 Closed
D.E. Shaw & Co
452
D.E. Shaw & Co
New York
– -$935K -6,597 Closed
DL
453
DOHJ LLC
Washington
– -$610K -5,251 Closed
Envestnet Portfolio Solutions
454
Envestnet Portfolio Solutions
Illinois
– -$584K -4,120 Closed
Susquehanna International Group
455
Susquehanna International Group
Pennsylvania
– -$487K -3,435 Closed
Citadel Advisors
456
Citadel Advisors
Florida
– -$478K -3,247 Closed
LSA
457
Lion Street Advisors
Texas
– -$389K -2,742 Closed
TRCT
458
Tower Research Capital (TRC)
New York
– -$367K -2,591 Closed
TNA
459
True North Advisors
Texas
– -$361K -2,549 Closed
BW
460
BIP Wealth
Georgia
– -$339K -2,391 Closed
Walleye Capital
461
Walleye Capital
New York
– -$318K -2,243 Closed
APA
462
Astoria Portfolio Advisors
New York
– -$269K -1,835 Closed
IAN
463
Integrated Advisors Network
Texas
– -$258K -1,818 Closed
PIMG
464
Patriot Investment Management Group
Tennessee
– -$246K -1,735 Closed
EA
465
Ergawealth Advisors
Illinois
– -$222K -1,566 Closed
ACG
466
Allen Capital Group
Nebraska
– -$208K -1,471 Closed
BI
467
BFI Infinity
Switzerland
– -$212K -1,441 Closed
FNBT
468
FineMark National Bank & Trust
Florida
– -$203K -1,430 Closed
WTFG
469
Wood Tarver Financial Group
Idaho
– -$55K -395 Closed
Simplex Trading
470
Simplex Trading
Illinois
– -$37.1K -252 Closed
BFP
471
Briaud Financial Planning
Texas
– -$27K -194 Closed
OWA
472
Opal Wealth Advisors
New York
– -$24.4K -172 Closed
BCMLT
473
Beacon Capital Management LLC (Tennessee)
Tennessee
– -$14.2K -100 Closed
GBT
474
Grove Bank & Trust
Florida
– -$9.63K -68 Closed
RA
475
Rise Advisors
New York
– -$8.94K -63 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.