Invesco QQQ Trust

QQQ • NASDAQ

Invesco QQQ Trust is an exchange-traded fund on NASDAQ. As of Q3 2025, 3,452 institutional investors hold shares in this ETF, with total holdings valued at $137.69B. MORGAN STANLEY is the largest holder with a position valued at $14.7B.

Overview

Overview of institutional ownership in QQQ as of Q3 2025

All Institutions

Institutions: 3,452
Value Held: $137.69B
Shares Held: 233.0M
Avg Position: $39.9M
Median Position: $2.5M

Hedge Funds

Hedge Funds: 77
Value Held: $4.2B
Shares Held: 7.1M
Avg Position: $55.0M
Median Position: $6.8M

Biggest Investors

Institutions with the largest positions in QQQ as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$14.7B 0.90% of portfolio	24.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$8.4B 0.63% of portfolio	13.9M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
L LPL Financial LLC Institution	-	$6.3B 1.87% of portfolio	10.6M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$5.8B 0.83% of portfolio	9.6M shares	≤ Q2 2013 Held for 12y 5m+	$691.34B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$4.1B 0.84% of portfolio	6.9M shares	≤ Q2 2013 Held for 12y 5m+	$488.61B
UBS Group AG Institution	Sergio P. Ermotti CEO	$3.7B 0.72% of portfolio	6.2M shares	Q4 2014 Held for 10y 11m	$511.54B
R ROYAL BANK OF CANADA Institution	-	$3.4B 0.62% of portfolio	5.6M shares	≤ Q2 2013 Held for 12y 5m+	$542.04B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$2.5B 0.57% of portfolio	4.1M shares	≤ Q2 2013 Held for 12y 5m+	$433.11B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$2.4B 0.15% of portfolio	4.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.56T
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$2.4B 0.76% of portfolio	3.9M shares	Q4 2024 Held for 11 months	$310.43B

Net Capital Flow

Institutional buying and selling activity for QQQ in Q3 2025

Net Flow: +$313.6M
Buyers: 1,547
Sellers: 1,347
Total Bought: +$13.4B
Total Sold: −$13.1B
Avg Position: $40.5M

Biggest Buyers

Institution	Net Bought	Current Position
MORGAN STANLEY RIA/Wealth	+$2.5B +4.2M shares	$14.7B 24.6M shares
R ROYAL BANK OF CANADA Institution	+$921.6M +1.5M shares	$3.4B 5.6M shares
BANK OF MONTREAL /CAN/ Institution	+$740.2M +1.2M shares	$740.2M 1.2M shares
M Maxi Investments CY Ltd Institution	+$734.1M +1.2M shares	$741.5M 1.2M shares
CITIGROUP INC Institution	+$703.0M +1.2M shares	$1.7B 2.8M shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	+$495.4M +825.2K shares	$497.3M 828.4K shares
UBS Group AG Institution	+$375.6M +625.7K shares	$3.7B 6.2M shares
GOLDMAN SACHS GROUP INC Institution	+$369.6M +615.7K shares	$5.8B 9.6M shares
Cetera Investment Advisers RIA/Wealth	+$307.4M +512.1K shares	$1.3B 2.2M shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$280.6M +467.3K shares	$344.0M 573.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
BANK OF AMERICA CORP /DE/ Institution	−$2.4B −3.9M shares	$8.4B 13.9M shares
Symphony Financial, Ltd. Co. RIA/Wealth	−$1.3B −2.2M shares	$4.8M 7.9K shares
P Proficio Capital Partners LLC Family Office	−$1.2B −2.0M shares	$13.7M 22.8K shares
BARCLAYS PLC Institution	−$1.1B −1.8M shares	$532.3M 886.6K shares
JPMORGAN CHASE & CO Institution	−$513.9M −856.0K shares	$2.4B 4.0M shares
H HRT FINANCIAL LLC Institution	−$461.9M −769.3K shares	$1.4B 2.4M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$409.2M −681.6K shares	$1.3B 2.1M shares
Main Management ETF Advisors, LLC Institution	−$404.7M −733.6K shares	Sold Off 0 shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$399.8M −665.9K shares	$404.6M 673.9K shares
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	−$284.0M −473.1K shares	$39.6M 66.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited QQQ in Q3 2025

New Positions: 80
New Value: $299.6M
Exited Positions: 107
Exited Value: $1.1B

New Positions

Institution	Position Value
J Japan Science & Technology Agency Institution	$179.3M 298.7K shares
S STEINBERGANNA WEALTH MANAGEMENT RIA/Wealth	$21.1M 35.1K shares
Sonoma Allocations LLC RIA/Wealth	$13.5M 22.5K shares
F FORMULATE FINANCIAL LLC RIA/Wealth	$11.5M 19.2K shares
180 GPS Investments IC Ltd RIA/Wealth	$10.6M 17.6K shares
Integrity Advisory Solutions, LLC RIA/Wealth	$8.5M 14.1K shares
S SIG BROKERAGE, LP Institution	$5.6M 9.3K shares
S Stonegate Management LLC Institution	$5.3M 8.8K shares
Groupe la Francaise Fund of Funds	$5.0M 9.8K shares
Tillman Hartley LLC RIA/Wealth	$4.1M 6.8K shares

Exited Positions

Institution	Previous Position
Main Management ETF Advisors, LLC Institution	$404.7M 733.6K shares
O OLD MISSION CAPITAL LLC Institution	$213.4M 386.8K shares
O Optiver Holding B.V. Institution	$37.3M 67.6K shares
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$34.6M 62.7K shares
MONEY CONCEPTS CAPITAL CORP RIA/Wealth	$33.5M 60.8K shares
T Three Seasons Wealth, LLC RIA/Wealth	$31.8M 57.6K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$25.4M 46.1K shares
B BOCHK Asset Management Ltd Institution	$23.2M 42.0K shares
Turim 21 Investimentos Ltda. RIA/Wealth	$20.3M 36.9K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$16.1M 29.2K shares

Options Activity

Institutions with the largest Call and Put options positions in QQQ as of Q3 2025

Call Positions: 110
Call Value: $114.74B
Put Positions: 221
Put Value: $198.58B

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$17.1B 284.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$16.3B 272.0K contracts
J JANE STREET GROUP, LLC Institution	$15.4B 256.4K contracts
BARCLAYS PLC Institution	$7.8B 130.0K contracts
W WOLVERINE TRADING, LLC Institution	$6.7B 112.6K contracts
GOLDMAN SACHS GROUP INC Institution	$5.9B 98.4K contracts
WELLS FARGO & COMPANY/MN Institution	$5.0B 83.6K contracts
BANK OF AMERICA CORP /DE/ Institution	$4.8B 80.2K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$4.3B 71.8K contracts
B Belvedere Trading LLC Institution	$3.9B 65.3K contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$26.6B 442.7K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$18.0B 300.4K contracts
J JANE STREET GROUP, LLC Institution	$17.8B 295.9K contracts
BANK OF AMERICA CORP /DE/ Institution	$17.4B 289.1K contracts
A ALKEON CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	$15.4B 256.3K contracts
BARCLAYS PLC Institution	$13.2B 220.4K contracts
GOLDMAN SACHS GROUP INC Institution	$7.0B 116.4K contracts
UBS Group AG Institution	$6.1B 102.0K contracts
R Rokos Capital Management LLP Hedge Fund•Global Macro	$5.8B 97.0K contracts
W WOLVERINE TRADING, LLC Institution	$5.4B 90.6K contracts

Most Committed Institutions

Institutions with QQQ as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
S SHCP, LLC Institution	-	100.00% $27.0K	45.0 shares	Q3 2025 Held for 2 months	$27.0K
Artemis Wealth Advisors, LLC Fund of Funds	Peter Matthew Rup CEO	73.92% $430.4M	716.9K shares	Q4 2016 Held for 8y 11m	$582.3M
S Shanda Payment Holdings Ltd. RIA/Wealth	Geun Chang Choi COO	68.36% $1.3B	2.2M shares	Q3 2020 Held for 5y 2m	$1.9B
Industrial Alliance Investment Management Inc. RIA/Wealth	Thor William Nelson CCO	66.10% $109.5M	182.4K shares	Q4 2021 Held for 3y 11m	$165.7M
Anchor Capital Management Group Inc Long Only Manager	Garrett Thomas Waters CEO	64.25% $121.9M	203.0K shares	Q4 2024 Held for 11 months	$189.7M
M Maxi Investments CY Ltd Institution	-	62.45% $741.5M	1.2M shares	Q3 2024 Held for 1y 2m	$1.2B
W Wallace Hart LLC Hedge Fund•Long/Short	Jeremy Nathan Wallace Founder	34.39% $46.8M	77.9K shares	Q1 2024 Held for 1y 8m	$136.0M
TCM Advisors, LLC RIA/Wealth	Morris Gordon Nutt Managing Partner	31.82% $34.0M	56.7K shares	Q4 2021 Held for 3y 11m	$106.9M
Rye Brook Capital LLC Hedge Fund•Long/Short	Carlos Gustavo Ribeiro Fernandes Managing Partner	30.05% $27.1M	45.1K shares	Q4 2020 Held for 4y 11m	$90.1M
W Wilmar Advisors LLC Institution	-	29.26% $35.4M	59.0K shares	Q4 2024 Held for 11 months	$121.1M

Hedge Fund Spotlight

Discover hedge funds investing in QQQ

Connective Capital Management, LLC

Hedge Fund • Long/Short

Portfolio ManagerRobert Magnus Romero

Portfolio Value: $108.7M
Positions: 68
Last Reported: Q3 2025

Sector Allocation

Position in Invesco QQQ Trust

Market Value: $14.6M
Shares Held: 24.3K
Portfolio Weight: 13.42%
Owned Since: 2022-Q4

Top Holding	Sector	Market Value	Weight
1 Invesco QQQ Trust QQQ	ETF ETF	$14.6M	13.42%
2 Intuitive Surgical ISRG	Medical - Instruments & Supplies Healthcare	$9.8M	9.02%
3 Broadcom Inc. AVGO	Semiconductors Technology	$7.7M	7.07%