Vault-13

INVESCO EXCHANGE TRADED FD T PPA

AEROSPACE DEFN · ETP · CUSIP 46137V100

517 institutional holders +69 vs Q3 2025
23,926,43923.9m shares reported held*
$3.8bnreported value*
60 new 193 added 109 reduced 22 sold out net sold ≈ $7.0m (-58.7k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($509.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $156.86. Options: 3 managers hold calls ($1.0m notional), 2 hold puts ($1.1m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 178Q4 22: 224Q1 23: 237Q2 23: 235Q3 23: 242Q4 23: 286Q1 24: 324Q2 24: 352Q3 24: 367Q4 24: 393Q1 25: 403Q2 25: 431Q3 25: 448Q4 25: 517517Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022178
Q4 2022224
Q1 2023237
Q2 2023235
Q3 2023242
Q4 2023286
Q1 2024324
Q2 2024352
Q3 2024367
Q4 2024393
Q1 2025403
Q2 2025431
Q3 2025448
Q4 2025517

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q1 24: 182 bought or addedQ1 24: 95 cut or sold outQ2 24: 192 bought or addedQ2 24: 84 cut or sold outQ2 24Q3 24: 191 bought or addedQ3 24: 111 cut or sold outQ4 24: 211 bought or addedQ4 24: 118 cut or sold outQ4 24Q1 25: 184 bought or addedQ1 25: 169 cut or sold outQ2 25: 233 bought or addedQ2 25: 142 cut or sold outQ2 25Q3 25: 256 bought or addedQ3 25: 140 cut or sold outQ4 25: 253 bought or addedQ4 25: 131 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202418295
Q2 202419284
Q3 2024191111
Q4 2024211118
Q1 2025184169
Q2 2025233142
Q3 2025256140
Q4 2025253131

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6m$8mQ1 25 calls: $1.6mQ1 25 puts: $6.2mQ1 25P/C 3.94Q2 25 calls: $1.2mQ2 25 puts: $1.1mQ2 25P/C 0.88Q3 25 calls: $1.5mQ3 25 puts: $1.5mQ3 25P/C 1.03Q4 25 calls: $1.0mQ4 25 puts: $1.1mQ4 25P/C 1.06
Numbers
QuarterCallsPutsP/C
Q1 2025$1.6m$6.2m3.94
Q2 2025$1.2m$1.1m0.88
Q3 2025$1.5m$1.5m1.03
Q4 2025$1.0m$1.1m1.06

Biggest buyers

NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +88,962+89.0k
LPL Financial LLC Added +60,321+60.3k
AMERIPRISE FINANCIAL INC Added +57,292+57.3k
BANK OF AMERICA CORP /DE/ Added +46,993+47.0k
Kovack Advisors, Inc. Added +39,037+39.0k
WELLS FARGO & COMPANY/MN Added +37,509+37.5k
JONES FINANCIAL COMPANIES LLLP Added +35,437+35.4k
Rockefeller Capital Management L.P. Added +28,822+28.8k
MORGAN STANLEY Added +27,624+27.6k
J.W. COLE ADVISORS, INC. Added +26,260+26.3k

Biggest sellers

Mirae Asset Global Investments Co., Ltd. Sold out -246,697-246.7k
BNP PARIBAS FINANCIAL MARKETS Reduced -120,500-120.5k
Beacon Harbor Wealth Advisors, Inc. Sold out -83,234-83.2k
UBS Group AG Reduced -41,186-41.2k
JPMORGAN CHASE & CO Reduced -39,325-39.3k
HighTower Advisors, LLC Reduced -37,742-37.7k
Warner Group LLC Reduced -37,513-37.5k
Consolidated Portfolio Review Corp Sold out -30,561-30.6k
Advyzon Investment Management, LLC Sold out -30,158-30.2k
Cetera Investment Advisers Reduced -21,952-22.0k

Biggest calls

CITADEL ADVISORS LLC Reduced $469.9k3.0k shares
Belvedere Trading LLC Added $454.2k2.9k shares
GROUP ONE TRADING LLC New $125.3k800 shares

Biggest puts

CITADEL ADVISORS LLC Reduced $971.1k6.2k shares
Belvedere Trading LLC Reduced $141.0k900 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.09% of their portfolio CHARLOTTE, NC 7,715,2077.7m $1.2bn $1.2bn 0.09% Added +47.0k +46,993
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 2,143,2082.1m $335.7m $335.7m 0.02% Added +27.6k +27,624
3 LPL Financial LLC 0.07% of their portfolio FORT MILL, SC 1,729,0631.7m $270.8m $270.8m 0.07% Added +60.3k +60,321
4 UBS Group AG 0.02% of their portfolio ZURICH, V8 784,655784.7k $122.9m $122.9m 0.02% Reduced -41.2k -41,186
5 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 651,525651.5k $102.0m $102.0m 0.02% Added +37.5k +37,509
6 HighTower Advisors, LLC 0.09% of their portfolio CHICAGO, IL 498,344498.3k $78.1m $78.1m 0.09% Reduced -37.7k -37,742
7 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 458,214458.2k $71.8m $71.8m 0.02% Added +57.3k +57,292
8 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 448,911448.9k $70.3m $70.3m 0.02% Reduced -11.6k -11,560
9 Composition Wealth, LLC 0.79% of their portfolio LOS ANGELES, CA 350,260350.3k $54.9m $54.9m 0.79% Added +1.9k +1,931
10 Capital Asset Advisory Services LLC 2.29% of their portfolio Williamston, MI 338,766338.8k $57.0m $57.0m 2.29% Added +6.0k +6,043
11 AXXCESS WEALTH MANAGEMENT, LLC 0.94% of their portfolio CARLSBAD, CA 337,760337.8k $52.9m $52.9m 0.94% Added +4.2k +4,207
12 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 305,467305.5k $47.8m $47.8m 0.05% Reduced -22.0k -21,952
13 Summit Trail Advisors, LLC 0.79% of their portfolio NEW YORK, NY 290,567290.6k $45.5m $45.5m 0.79% Reduced -8.8k -8,825
14 MEITAV INVESTMENT HOUSE LTD 0.50% of their portfolio BENE-BERAQ, L3 275,480275.5k $43.1m $43.1m 0.50% Unchanged
15 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 222,240222.2k $34.8m $34.8m 0.05% Added +98 +98
16 MAI Capital Management 0.20% of their portfolio INDEPENDENCE, OH 221,977222.0k $34.8m $34.8m 0.20% Reduced -16.5k -16,520
17 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 204,689204.7k $32.1m $32.1m 0.01% Added +13.7k +13,658
18 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 187,448187.4k $29.4m $29.4m 0.02% Added +89.0k +88,962
19 COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio WALTHAM, MA 186,237186.2k $29.2m $29.2m 0.04% Added +1.2k +1,235
20 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 184,610184.6k $28.9m $28.9m 0.01% Added +7.2k +7,204
21 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 176,864176.9k $27.7m $27.7m 0.02% Added +35.4k +35,437
22 Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD 1.70% of their portfolio Tel Aviv, L3 166,184166.2k $26.0m $26.0m 1.70% Unchanged
23 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 164,017164.0k $25.7m $25.7m 0.03% Added +2.3k +2,340
24 Cambridge Investment Research Advisors, Inc. 0.07% of their portfolio FAIRFIELD, IA 158,246158.2k $24.8m $24.8m 0.07% Reduced -3.1k -3,057
25 Corient Private Wealth LP 0.02% of their portfolio MIAMI, FL 156,892156.9k $24.6m $24.6m 0.02% Added +13.1k +13,057
26 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 150,872150.9k $23.6m $23.6m 0.06% Added +9.9k +9,916
27 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 124,660124.7k $19.5m $19.5m 0.02% Added +1.3k +1,287
28 Equitable Holdings, Inc. 0.12% of their portfolio NEW YORK, NY 116,248116.2k $18.2m $18.2m 0.12% Added +13.0k +13,023
29 SEARCY FINANCIAL SERVICES INC /ADV 6.55% of their portfolio OVERLAND PARK, KS 112,897112.9k $17.7m $17.7m 6.55% Reduced -4.7k -4,715
30 Focus Partners Wealth 0.02% of their portfolio ST LOUIS, MO 105,798105.8k $16.6m $16.6m 0.02% Added +2.6k +2,616
31 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 97,88197.9k $15.3m $15.3m 0.04% Added +13.9k +13,904
32 J.W. COLE ADVISORS, INC. 0.34% of their portfolio TAMPA, FL 90,66190.7k $14.1m $14.1m 0.34% Added +26.3k +26,260
33 Modern Wealth Management, LLC 0.26% of their portfolio KANSAS CITY, MO 90,15690.2k $14.1m $14.1m 0.26% Added +246 +246
34 INVESTMENT MANAGEMENT CORP /VA/ /ADV 11.71% of their portfolio ROANOKE, VA 89,12389.1k $14.0m $14.0m 11.71% Reduced -110 -110
35 EFG International AG 0.27% of their portfolio Zurich, V8 88,09888.1k $13.8m $13.8m 0.27% First filing
36 Presidio Capital Management, LLC 3.94% of their portfolio SAN DIEGO, CA 83,67583.7k $13.1m $13.1m 3.94% Reduced -1.1k -1,102
37 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 83,29083.3k $13.0m $13.0m 0.00% Added +1.7k +1,706
38 IHT Wealth Management, LLC 0.31% of their portfolio Chicago, IL 82,32582.3k $12.9m $12.9m 0.31% Added +11.9k +11,931
39 Quadrature Capital Ltd 0.13% of their portfolio LONDON, X0 82,13682.1k $12.9m $12.9m 0.13% Reduced -16.0k -16,001
40 Private Advisor Group, LLC 0.06% of their portfolio MORRISTOWN, NJ 77,17577.2k $12.1m $12.1m 0.06% Reduced -17.1k -17,074
41 Perigon Wealth Management, LLC 0.21% of their portfolio SAN FRANCISCO, CA 75,16775.2k $11.8m $11.8m 0.21% Added +106 +106
42 ADAPT WEALTH ADVISORS, LLC 3.93% of their portfolio ATLANTA, GA 73,01473.0k $11.4m $11.4m 3.93% Added +5.3k +5,299
43 Mivtachim The Workers Social Insurance Fund Ltd. (Under Special Management) 1.56% of their portfolio Tel Aviv, L3 72,00072.0k $11.3m $11.3m 1.56% Unchanged
44 VALLEY WEALTH MANAGERS, INC. 0.70% of their portfolio PARAMUS, NJ 69,62569.6k $10.9m $10.9m 0.70% Added +4.7k +4,664
45 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 69,50069.5k $10.9m $10.9m 0.01% Reduced -120.5k -120,500
46 Kestra Advisory Services, LLC 0.04% of their portfolio AUSTIN, TX 64,93264.9k $10.2m $10.2m 0.04% Added +1.9k +1,919
47 PRUDENTIAL PLC 0.08% of their portfolio LONDON, X0 64,60064.6k $10.1m $10.1m 0.08% Unchanged
48 Hollow Brook Wealth Management LLC 2.59% of their portfolio Katonah, NY 63,81763.8k $10.0m $10.0m 2.59% Reduced -4.9k -4,897
49 Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD 1.88% of their portfolio Tel Aviv, L3 61,16561.2k $9.6m $9.6m 1.88% Unchanged
50 Prosperity Consulting Group, LLC 0.41% of their portfolio OWINGS MILLS, MD 58,61358.6k $9.2m $9.2m 0.41% Added +1.6k +1,610
51 Beacon Pointe Advisors, LLC 0.06% of their portfolio NEWPORT BEACH, CA 57,77657.8k $9.0m $9.0m 0.06% Added +1.6k +1,587
52 Steward Partners Investment Advisory, LLC 0.05% of their portfolio STAMFORD, CT 54,66954.7k $8.6m $8.6m 0.05% Added +1.3k +1,285
53 Madrid Financial Services 5.86% of their portfolio MANHATTAN BEACH, CA 52,02352.0k $8.1m $8.1m 5.86% Reduced -959 -959
54 Quaker Wealth Management, LLC 2.28% of their portfolio MOORESTOWN, NJ 46,01746.0k $7.2m $7.2m 2.28% Added +380 +380
55 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 44,00744.0k $6.9m $6.9m 0.01% Added +28.8k +28,822
56 SageGuard Financial Group, LLC 1.09% of their portfolio GOODLETTSVILLE, TN 43,59643.6k $6.8m $6.8m 1.09% First filing
57 Kovack Advisors, Inc. 0.32% of their portfolio FT. LAUDERDALE, FL 43,08343.1k $6.7m $6.7m 0.32% Added +39.0k +39,037
58 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 43,07343.1k $6.7m $6.7m 0.02% Added +3.0k +3,048
59 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 42,87942.9k $6.7m $6.7m 0.00% Reduced -39.3k -39,325
60 CMH Wealth Management LLC 1.42% of their portfolio PORTSMOUTH, NH 42,32942.3k $6.6m $6.6m 1.42% Reduced -2.7k -2,705
61 New England Private Wealth Advisors LLC 0.81% of their portfolio WELLESLEY, MA 41,47741.5k $6.5m $6.5m 0.81% Added +171 +171
62 Federation des caisses Desjardins du Quebec 0.02% of their portfolio LEVIS, A8 40,28940.3k $6.3m $6.3m 0.02% Added +5.5k +5,502
63 Artesa Financial Group, LLC 6.47% of their portfolio CONROE, TX 40,13640.1k $6.3m $6.3m 6.47% First filing
64 Uniting Wealth Partners, LLC 1.91% of their portfolio DENVER, CO 39,73639.7k $6.2m $6.2m 1.91% Added +637 +637
65 BECK CAPITAL MANAGEMENT, LLC 1.48% of their portfolio AUSTIN, TX 39,71539.7k $6.2m $6.2m 1.48% Reduced -16.6k -16,647
66 FLAGSHIP HARBOR ADVISORS, LLC 0.28% of their portfolio BOSTON, MA 37,38737.4k $5.9m $5.9m 0.28% Added +1.8k +1,792
67 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 36,87536.9k $5.8m $5.8m 0.01% Reduced -3.8k -3,849
68 CASTLE WEALTH MANAGEMENT LLC 1.87% of their portfolio BOYNTON BEACH, FL 36,04436.0k $5.6m $5.6m 1.87% Reduced -754 -754
69 WEDBUSH SECURITIES INC 0.16% of their portfolio PASADENA, CA 36,01236.0k $5.6m $5.6m 0.16% Added +2.8k +2,801
70 Financial Partners Group, Inc 0.69% of their portfolio Overland Park, KS 34,10234.1k $6.0m $6.0m 0.69% Added +571 +571
71 Belpointe Asset Management LLC 0.19% of their portfolio RENO, NV 33,64433.6k $5.3m $5.3m 0.19% Added +1.8k +1,803
72 Detalus Advisors, LLC 1.27% of their portfolio ST. LOUIS, MO 33,28833.3k $5.2m $5.2m 1.27% Added +4.7k +4,717
73 GREAT VALLEY ADVISOR GROUP, INC. 0.09% of their portfolio WILMINGTON, DE 31,42531.4k $4.9m $4.9m 0.09% Reduced -1.0k -1,002
74 Pachira Investments Inc. 2.38% of their portfolio DANA POINT, CA 31,21531.2k $4.9m $4.9m 2.38% Added +13.8k +13,794
75 Riggs Asset Managment Co. Inc. 0.98% of their portfolio DALLAS, PA 30,99431.0k $4.9m $4.9m 0.98% Added +268 +268
76 Brookstone Capital Management 0.06% of their portfolio WHEATON, IL 30,86630.9k $4.8m $4.8m 0.06% Added +5.0k +4,950
77 RM Financial Services, LLC 4.25% of their portfolio FALMOUTH, ME 30,59830.6k $4.8m $4.8m 4.25% First filing
78 Henson-Edgewater Management, LLC 2.81% of their portfolio AVON, OH 30,39030.4k $4.8m $4.8m 2.81% First filing
79 Sowell Financial Services LLC 0.17% of their portfolio NORTH LITTLE ROCK, AR 30,28830.3k $4.7m $4.7m 0.17% Added +5.1k +5,138
80 StoneX Group Inc. 0.21% of their portfolio NEW YORK, NY 30,25930.3k $4.7m $4.7m 0.21% Added +3.3k +3,269
81 CREATIVE FINANCIAL DESIGNS INC /ADV 0.30% of their portfolio KOKOMO, IN 30,08430.1k $4.7m $4.7m 0.30% Reduced -746 -746
82 WT Wealth Management 1.32% of their portfolio SCOTTSDALE, AZ 29,30329.3k $4.6m $4.6m 1.32% Reduced -16.9k -16,949
83 KPP Advisory Services LLC 0.66% of their portfolio Louisville, KY 29,15829.2k $4.6m $4.6m 0.66% Added +5.4k +5,352
84 Pacific Sun Financial Corp 2.20% of their portfolio LOS ANGELES, CA 29,10329.1k $4.6m $4.6m 2.20% Added +29 +29
85 Green Ridge Wealth Planning LLC 2.33% of their portfolio MONTVILLE, NJ 29,08829.1k $4.6m $4.6m 2.33% First filing
86 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 26,09226.1k $4.1m $4.1m 0.01% Added +1.0k +1,046
87 Capital Advisors, Ltd. LLC 0.45% of their portfolio SHAKER HEIGHTS, OH 25,61425.6k $4.0m $4.0m 0.45% Reduced -519 -519
88 PARK AVENUE SECURITIES LLC 0.03% of their portfolio NEW YORK, NY 25,34825.3k $4.0m $4.0m 0.03% Added +521 +521
89 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 24,68624.7k $3.9m $3.9m 0.01% New
90 HARBOUR INVESTMENTS, INC. 0.08% of their portfolio MADISON, WI 24,58224.6k $3.9m $3.9m 0.08% Added +1.3k +1,314
91 Golden State Wealth Management, LLC 0.40% of their portfolio SANTA ANA, CA 24,33924.3k $3.8m $3.8m 0.40% Reduced -345 -345
92 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 23,99624.0k $3.8m $3.8m 0.01% Reduced -8.3k -8,332
93 Diversified Enterprises, LLC 0.22% of their portfolio Wilmington, DE 23,83823.8k $3.7m $3.7m 0.22% Reduced -62 -62
94 Tidemark, LLC 1.00% of their portfolio SAN DIEGO, CA 22,50922.5k $3.5m $3.5m 1.00% Added +1.7k +1,676
95 JUNCTURE WEALTH STRATEGIES, LLC 1.15% of their portfolio SCOTTSDALE, AZ 22,32022.3k $3.5m $3.5m 1.15% New
96 Merit Financial Group, LLC 0.03% of their portfolio ALPHARETTA, GA 21,82121.8k $3.4m $3.4m 0.03% Added +1.8k +1,801
97 Harbour Wealth Management Group, Inc. 2.60% of their portfolio DANIEL ISLAND, SC 21,24021.2k $3.3m $3.3m 2.60% First filing
98 SCHMIDT P J INVESTMENT MANAGEMENT INC 0.54% of their portfolio CEDARBURG, WI 21,12621.1k $3.3m $3.3m 0.54% Added +2.0k +2,008
99 CWM, LLC 0.01% of their portfolio OMAHA, NE 20,79620.8k $3.3m $3.3m 0.01% Reduced -9.9k -9,913
100 Tempus Wealth Planning, LLC 0.73% of their portfolio IRVINE, CA 20,29520.3k $3.2m $3.2m 0.73% Added +3.9k +3,900