§ 13F · FUND PROFILE
Invesco Ltd.
Invesco Ltd is a global investment management firm known primarily for its extensive ETF offerings, including the popular PowerShares product line and the flagship QQQ Nasdaq-100 ETF. The firm operates with a predominantly passive index investment approach, managing a diverse portfolio of over 24,000 positions across various market sectors and asset classes.
AUM · $587990.2T (13F)Positions · 24840Turnover · 97% · Q4Filed · Feb 19, 2026
CONCENTRATION
12%
Top 10 holdings
NEW BUYS
+788
+$54808.2T deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → SEMICONDUCTORS
-1pp · +1pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED FEB 19, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 72.81M | $13579.3T | 2.1% | — |
| 2 | AAPL | APPLE INC | 43.98M | $11956.0T | 1.8% | — |
| 3 | MSFT | MICROSOFT CORP | 20.41M | $9870.8T | 1.5% | — |
| 4 | AMZN | AMAZON COM INC | 29.73M | $6863.3T | 1.1% | +79% |
| 5 | NVDA | NVIDIA CORPORATION | 36.77M | $6858.1T | 1.1% | — |
| 6 | META | META PLATFORMS INC | 9.49M | $6265.4T | 1.0% | NEW |
| 7 | GOOGL | ALPHABET INC | 19.94M | $6241.5T | 1.0% | — |
| 8 | AVGO | BROADCOM INC | 17.37M | $6013.0T | 0.9% | — |
| 9 | MSFT | MICROSOFT CORP | 12.34M | $5969.0T | 0.9% | — |
| 10 | GOOGL | ALPHABET INC | 17.03M | $5331.2T | 0.8% | — |
§ 02 · SECTOR ALLOCATION
Where the money is
Other53.6% (±0)
Technology13.0% (−1pp)
Semiconductors11.6% (+1pp)
Media7.1% (±0)
Retail5.9% (±0)
Financial Services5.7% (±0)
§ 03 · THE INVESCO SIGNAL
AC read
Invesco Ltd's recent 13F filing reveals fascinating contradictions between its stated passive index approach and actual portfolio behavior. Despite being categorized as a passive fund manager, Invesco demonstrates remarkably active trading patterns with a 97% quarterly turnover rate and the addition of 788 new positions while exiting none during the quarter. This level of activity suggests significant rebalancing across its massive $588 trillion in assets under management, likely driven by the mechanical requirements of maintaining thousands of index products and ETFs rather than active stock selection.
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+788 buys · −0 exits · 21884 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed