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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
CA
176
CoreCap Advisors
Michigan
$1M +$617K +4,197 +185%
PCIA
177
Prime Capital Investment Advisors
Kansas
$994K -$42.2K -287 -4%
NWM
178
Nova Wealth Management
Florida
$982K -$109K -740 -10%
NWMG
179
National Wealth Management Group
Ohio
$972K +$119K +809 +15%
FFS
180
Founders Financial Securities
Maryland
$959K +$75.8K +515 +9%
JCFM
181
JBR Co Financial Management
Oklahoma
$956K -$19.7K -134 -2%
FEM
182
Fulcrum Equity Management
Texas
$952K +$901K +6,126 New
RMC
183
Ring Mountain Capital
California
$952K -$3.53K -24 -0.4%
CCA
184
Cadent Capital Advisors
Oklahoma
$949K +$648K +4,407 +259%
NS
185
NBC Securities
Alabama
$940K +$84.7K +576 +11%
MC
186
Moors & Cabot
Massachusetts
$940K -$55K -374 -6%
LA
187
LM Advisors
California
$933K – – –
AG
188
Advocate Group
Minnesota
$931K +$881K +5,987 New
BEI
189
Benjamin Edwards Inc
Missouri
$891K +$10.2K +69 +1%
CFP
190
Cascade Financial Partners
California
$889K – – –
ASN
191
Advisory Services Network
Georgia
$886K -$18.5K -126 -2%
DFA
192
Delta Financial Advisors
Louisiana
$884K +$836K +5,684 New
EM
193
ELCO Management
New York
$878K -$1.32K -9 -0.2%
AFS
194
Access Financial Services
Minnesota
$877K -$2.5K -17 -0.3%
SAW
195
Signal Advisors Wealth
Michigan
$873K +$826K +5,613 New
UFF
196
USA Financial Formulas
Michigan
$863K +$817K +5,551 New
M&T Bank
197
M&T Bank
New York
$854K – – –
KWM
198
Kingsview Wealth Management
Oregon
$842K +$37.7K +256 +5%
AI
199
Atria Investments
North Carolina
$829K +$170K +1,153 +28%
GWSG
200
GPS Wealth Strategies Group
Colorado
$828K +$106K +718 +16%
6 7
8
9 10

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.