Invesco Variable Rate Preferred

VRP • ARCA

Invesco Variable Rate Preferred is an exchange-traded fund on ARCA. As of Q3 2025, 240 institutional investors hold shares in this ETF, with total holdings valued at $1.2B. MORGAN STANLEY is the largest holder with a position valued at $218.1M.

Overview

Overview of institutional ownership in VRP as of Q3 2025

All Institutions

Institutions: 240
Value Held: $1.2B
Shares Held: 49.8M
Avg Position: $5.1M
Median Position: $509.1K

Hedge Funds

Hedge Funds: 4
Value Held: $8.3M
Shares Held: 337.7K
Avg Position: $2.1M
Median Position: $833.3K

Biggest Investors

Institutions with the largest positions in VRP as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$218.1M 0.01% of portfolio	8.8M shares	Q3 2014 Held for 11y 2m	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$209.7M 0.02% of portfolio	8.5M shares	Q2 2014 Held for 11y 5m	$1.33T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$77.8M 0.02% of portfolio	3.1M shares	Q2 2016 Held for 9y 5m	$488.50B
L LPL Financial LLC Institution	-	$55.6M 0.02% of portfolio	2.3M shares	Q2 2014 Held for 11y 5m	$340.07B
UBS Group AG Institution	Sergio P. Ermotti CEO	$53.2M 0.01% of portfolio	2.2M shares	Q4 2014 Held for 10y 11m	$511.54B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$42.9M 0.00% of portfolio	1.7M shares	Q2 2016 Held for 9y 5m	$1.56T
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$40.2M 0.01% of portfolio	1.6M shares	Q2 2015 Held for 10y 5m	$341.99B
STEPHENS INC /AR/ RIA/Wealth	Warren Miles Amerine Stephens CEO	$35.0M 0.45% of portfolio	1.4M shares	Q1 2018 Held for 7y 8m	$7.8B
Advisors Capital Management, LLC RIA/Wealth	Charles Lieberman CIO	$32.0M 0.40% of portfolio	1.3M shares	Q4 2021 Held for 3y 11m	$8.0B
HighTower Advisors, LLC RIA/Wealth	Robert David Oros CEO	$28.4M 0.03% of portfolio	1.1M shares	Q2 2014 Held for 11y 5m	$87.7B

Net Capital Flow

Institutional buying and selling activity for VRP in Q3 2025

Traded: +$72.1M
Buyers: 107
Sellers: 102
Total Bought: +$123.7M
Total Sold: −$51.7M
Avg Position: $4.7M

Biggest Buyers

Institution	Net Bought	Current Position
Mader & Shannon Wealth Management, Inc. RIA/Wealth	+$21.2M +856.8K shares	$21.2M 856.8K shares
MORGAN STANLEY RIA/Wealth	+$20.9M +844.4K shares	$218.1M 8.8M shares
JPMORGAN CHASE & CO Institution	+$13.9M +561.8K shares	$42.9M 1.7M shares
BANK OF AMERICA CORP /DE/ Institution	+$12.3M +497.9K shares	$209.7M 8.5M shares
J JANE STREET GROUP, LLC Institution	+$11.5M +464.5K shares	$11.5M 464.5K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$4.1M +165.6K shares	$40.2M 1.6M shares
L LPL Financial LLC Institution	+$3.8M +155.2K shares	$55.6M 2.3M shares
HighTower Advisors, LLC RIA/Wealth	+$2.6M +104.8K shares	$28.4M 1.1M shares
R ROYAL BANK OF CANADA Institution	+$2.4M +98.3K shares	$16.1M 649.8K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$2.3M +91.9K shares	$16.6M 672.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
M Migdal Insurance & Financial Holdings Ltd. Institution	−$9.8M −400.0K shares	Sold Off 0 shares
Spectrum Asset Management, Inc. Long Only Manager	−$6.9M −279.9K shares	$1.6M 62.8K shares
S SeaBridge Investment Advisors LLC RIA/Wealth	−$6.3M −259.4K shares	Sold Off 0 shares
S STIFEL FINANCIAL CORP Long Only Manager	−$3.8M −155.4K shares	$10.1M 408.8K shares
A ATRIA INVESTMENTS LLC Institution	−$2.4M −98.3K shares	Sold Off 0 shares
Beta Wealth Group, Inc. RIA/Wealth	−$2.3M −93.1K shares	Sold Off 0 shares
UBS Group AG Institution	−$2.0M −81.8K shares	$53.2M 2.2M shares
P Proficio Capital Partners LLC Family Office	−$1.9M −1.9M shares	Sold Off 0 shares
Goldstone Financial Group, LLC RIA/Wealth	−$1.8M −74.8K shares	Sold Off 0 shares
FRANKLIN RESOURCES INC Institution	−$1.3M −50.7K shares	$2.9M 118.4K shares

Entry and Exit Activity

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

New Positions: 7
New Value: $24.0M
Exited Positions: 21
Exited Value: $29.5M

New Positions

Institution	Position Value
Mader & Shannon Wealth Management, Inc. RIA/Wealth	$21.2M 856.8K shares
Integrated Wealth Concepts LLC RIA/Wealth	$1.1M 44.3K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$498.9K 20.2K shares
A AMERIFLEX GROUP, INC. Institution	$485.5K 19.7K shares
Mount Yale Investment Advisors, LLC RIA/Wealth	$352.4K 14.3K shares
Huntleigh Advisors, Inc. RIA/Wealth	$225.9K 9.1K shares
Crumly & Associates Inc. RIA/Wealth	$211.8K 8.6K shares

Exited Positions

Institution	Previous Position
M Migdal Insurance & Financial Holdings Ltd. Institution	$9.8M 400.0K shares
S SeaBridge Investment Advisors LLC RIA/Wealth	$6.3M 259.4K shares
A ATRIA INVESTMENTS LLC Institution	$2.4M 98.3K shares
Beta Wealth Group, Inc. RIA/Wealth	$2.3M 93.1K shares
P Proficio Capital Partners LLC Family Office	$1.9M 1.9M shares
Goldstone Financial Group, LLC RIA/Wealth	$1.8M 74.8K shares
PRINCIPAL FINANCIAL GROUP INC Institution	$1.2M 50.7K shares
F FIRST CITIZENS BANK & TRUST CO Institution	$969.5K 39.7K shares
Buckingham Strategic Partners RIA/Wealth	$767.9K 31.4K shares
E ELEQUIN CAPITAL LP Hedge Fund•Multi-Strategy	$634.5K 26.0K shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Mader & Shannon Wealth Management, Inc. RIA/Wealth	James W Mader CEO	10.37% $21.2M	856.8K shares	Q3 2025 Held for 2 months	$204.0M
Spectrum Asset Management, Inc. Long Only Manager	Mark Alan Lieb CEO	3.55% $1.6M	62.8K shares	Q3 2022 Held for 3y 2m	$43.7M
C COTTONWOOD CAPITAL ADVISORS, LLC RIA/Wealth	Thomas J Pappas Managing Partner	2.47% $3.4M	137.0K shares	Q4 2021 Held for 3y 11m	$137.3M
Seed Wealth Management, Inc. RIA/Wealth	Jonathan Halleck Seed President	2.34% $2.5M	101.5K shares	Q4 2022 Held for 2y 11m	$107.1M
Windsor Capital Management, LLC RIA/Wealth	Donald Edward Peppler CCO	2.29% $8.3M	335.3K shares	Q3 2023 Held for 2y 2m	$362.2M
M Matthew Goff Investment Advisor, LLC Institution	-	1.79% $10.5M	424.7K shares	Q1 2022 Held for 3y 8m	$585.1M
Oder Investment Management, LLC RIA/Wealth	Joshua Kenneth Oder CCO	1.74% $2.4M	98.4K shares	Q4 2020 Held for 4y 11m	$139.3M
Westover Capital Advisors, LLC RIA/Wealth	Jr. Harold Sawyer CEO	1.62% $8.8M	354.6K shares	Q2 2025 Held for 5 months	$540.7M
Evolution Wealth Advisors, LLC RIA/Wealth	Adam Bruno Owner	1.51% $11.0M	446.5K shares	Q4 2019 Held for 5y 11m	$732.2M
FCA CORP /TX RIA/Wealth	Robert Warner Scharar CEO	1.38% $4.9M	197.1K shares	Q3 2020 Held for 5y 2m	$353.4M

Hedge Fund Spotlight

Discover hedge funds investing in VRP

RENAISSANCE TECHNOLOGIES LLC

Hedge Fund • Quant

Portfolio ManagerPeter Fitzhugh Brown

Portfolio Value: $75.8B
Positions: 3,419
Last Reported: Q3 2025

Sector Allocation

Position in Invesco Variable Rate Preferred

Market Value: $6.6M
Shares Held: 265.8K
Portfolio Weight: 0.01%
Owned Since: 2022-Q4

Top Holding	Sector	Market Value	Weight
1 Palantir Technologies Inc. PLTR	Software - Infrastructure Technology	$1.6B	2.06%
2 Nvidia NVDA	Semiconductors Technology	$1.1B	1.39%
3 Roblox RBLX	Electronic Gaming & Multimedia Technology	$953.5M	1.26%