QQQ
QQQ's institutional ownership profile is a bit of a puzzle box.
What's notably absent is almost as telling as what's present. Passive index ownership registers at just 0.2%, and growth momentum — arguably the natural behavioral home for a Nasdaq-100 ETF — sits at a rounding error of 0.1%. Deep value is zero, which surprises nobody. The income and quality buckets together barely crack 2.6%. The institutional pressure score is dead neutral at 0.00, and the market regime score is essentially flat at 0.01, meaning the data isn't flashing any strong directional signal in either the buying or selling direction right now. It's worth being direct about the limitations here. The 13F filings underpinning this ownership data are filed quarterly and can be 45 to 90 days stale by the time they're analyzed — plenty of time for positions to shift materially, especially among the quant and dealer holders who turn over positions rapidly. None of this data predicts where QQQ goes from here; it describes where reported money was sitting at a point in the past. Markets move faster than disclosures do.
§ 03 · SIGNAL STACK · WHAT THE INPUTS SAY
§ 04 · FUNDAMENTALS · THE BOOKS
| P/E | — | P/S | — |
| EV/EBITDA | — | P/B | — |
| Revenue (TTM) | — | Rev YoY | — |
| Gross margin | — | Op margin | — |
| Net income | — | FCF | — |
| Cash | — | Debt | — |
| Dividend | — | Buybacks 1Y | — |
QQQ's institutional ownership profile is a bit of a puzzle box. The largest slice — 56.5% — sits in an unclassified bucket, which mostly reflects the structural complexity of ETF ownership: wrap accounts, custodial holdings, and intermediary structures that don't map cleanly onto behavioral categories. Strip that out and the picture gets more interesting. Systematic quant strategies account for 16.3% of identified ownership, with dealer/bank desks close behind at 14.7%. These are not long-term conviction holders — they're traders, hedgers, and arbitrageurs who treat QQQ as plumbing rather than a portfolio statement. Tactical macro adds another 9.6%, suggesting a meaningful portion of identifiable ownership is held by investors using QQQ as a directional bet on tech and growth broadly, rather than a core position.
| Fund | Shares | % port | Δ Q/Q |
|---|---|---|---|
| Optiver Holding B.V. | 41.4M | 9.5% | −4% |
| Optiver Holding B.V. | 39.8M | 9.1% | +7% |
| JANE STREET GROUP, LLC | 38.1M | 3.5% | — |
| Citadel Advisors | 36.2M | 3.3% | — |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 34.1M | 2.4% | — |
| JANE STREET GROUP, LLC | 31.9M | 3.0% | — |
Top institutional owners for QQQ as of the most recent 13F window (Dec 2025). Δ Q/Q reflects share-count change vs. the prior filing — positive green means adding, negative red means trimming. Cross-reference with the ownership-mix bars below to see which strategy cohort is driving the flow.
§ 06 · WHO OWNS IT · BY STRATEGY
Ownership mix by behavioral cohort. Top bars indicate which style of capital dominates the float — passive indexing, quality compounders, dealer/bank, systematic quant, etc. Big quality-compounder share means concentrated active conviction; heavy passive share means flows are dictated by index rebalances, not fundamentals.
§ 07 · INSIDER ACTIVITY · LAST 180 DAYS
No Form 4 filings on record for QQQ in the last 180 days.