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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
MML Investors Services
26
MML Investors Services
Massachusetts
$21.9M +$4.21M +28,621 +25%
Jones Financial Companies
27
Jones Financial Companies
Missouri
$21.6M +$4.83M +32,843 +30%
Stifel Financial
28
Stifel Financial
Missouri
$19.2M -$425K -2,891 -2%
SFS
29
Searcy Financial Services
Kansas
$18.3M -$758K -5,150 -4%
EH
30
Equitable Holdings
New York
$16M +$5.22M +35,483 +52%
Focus Partners Wealth
31
Focus Partners Wealth
Massachusetts
$16M +$181K +1,231 +1%
Northwestern Mutual Wealth Management
32
Northwestern Mutual Wealth Management
Wisconsin
$15.3M +$1.44M +9,763 +11%
QC
33
Quadrature Capital
United Kingdom
$15.3M +$14.4M +98,137 New
PAG
34
Private Advisor Group
New Jersey
$14.7M +$922K +6,268 +7%
MWM
35
Modern Wealth Management
Kansas
$14M +$13.2M +89,910 New
IMC
36
Investment Management Corporation
Virginia
$13.9M +$96.7K +657 +0.7%
PCM
37
Presidio Capital Management
California
$13.2M -$348K -2,364 -3%
Janney Montgomery Scott
38
Janney Montgomery Scott
Pennsylvania
$13.1M +$7.67M +52,148 +164%
BHWA
39
Beacon Harbor Wealth Advisors
Virginia
$12.9M +$12.2M +83,234 New
Goldman Sachs
40
Goldman Sachs
New York
$12.7M +$6.83M +46,411 +132%
PWM
41
Perigon Wealth Management
California
$11.7M -$178K -1,207 -2%
MTWSIF
42
Mivtachim The Workers Social Insurance Fund
Israel
$11.2M – – –
IWM
43
IHT Wealth Management
Illinois
$10.9M +$6.96M +47,329 +205%
HBWM
44
Hollow Brook Wealth Management
New York
$10.7M +$177K +1,202 +2%
AWA
45
Adapt Wealth Advisors
Georgia
$10.5M -$944K -6,416 -9%
VWM
46
Valley Wealth Managers
New Jersey
$10.1M +$1.12M +7,617 +13%
PP
47
Prudential plc
United Kingdom
$10M +$2.24M +15,200 +31%
JWCA
48
J.W. Cole Advisors
Florida
$10M +$542K +3,686 +6%
KAS
49
Kestra Advisory Services
Texas
$9.8M -$34.2M -232,357 -79%
KHLMTHM
50
Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet
Israel
$9.48M – – –
1
2
3 4 5

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.