NEW YORK, July 28, 2026, 07:14 EDT
- According to three filings dated March 31, a total of 440,156 QQQ shares valued at $254.05 million are reported.
- Quantinno and Waverly disclosed acquiring 80,912 shares with confirmation. The timing of Envision’s acquisition has not been substantiated.
- Prior to Tuesday’s market open, QQQ was quoted at $682.12, representing an 18.2% premium over the quarter-end price implied by regulatory filings.
Three institutional buying alerts issued in late July for Invesco QQQ Trust NASDAQ:QQQ are not related to transactions from this week. The corresponding SEC filings detail holdings as of March 31, and were filed between May 13 and May 15.
The managers collectively disclosed holdings of 440,156 shares worth $254.05 million. The timing shifts the implication for investors. These numbers represent past positions, not confirmation of new inflows during July.
QQQ traded at $682.12 in premarket, representing an 18.2% premium over the $577.18 value used in those assessments. The notifications emerged 114 to 119 days following the quarter’s end.
U.S. trading on the main exchanges was yet to start. The primary Nasdaq session starts at 9:30 a.m. ET. QQQ was pointed roughly 0.35% lower than Monday’s close.
| Manager | QQQ shares, March 31 | Verified quarterly change | Reported value | Alert date | Lag from quarter-end |
|---|---|---|---|---|---|
| Quantinno Capital Management | 285,012 | +78,005, or 37.7% | $164.50 million | July 28 | 119 days |
| Waverly Advisors | 111,706 | +2,907, or 2.7% | $64.47 million | July 26 | 117 days |
| Envision Financial Transparency | 43,438 | Not verifiable | $25.07 million | July 23 | 114 days |
A previous Envision Form 13F was not located in the SEC records checked. As this is its initial accessible filing, there is no comparison to the previous quarter.
Quantinno recorded the biggest confirmed change, raising its holding to 285,012 shares from 207,007. Waverly boosted its position to 111,706 shares, up from 108,799.
Envision disclosed 43,438 shares valued at $25.072 million, comprising 24.4% of its $102.911 million reported portfolio. The figures highlight significant concentration.
The filing by itself does not reveal the timing of Envision’s acquisition of those shares. Form 13F discloses holdings at the end of a quarter, not each transaction that took place during that period.
This limitation is inherent. Filings for Form 13F may be submitted as late as 45 days following the end of a quarter. Quantinno and Waverly submitted their filings on the May 15 deadline. Envision submitted its filing two days prior.
The late-July alerts extended the timeline by about ten weeks. Investors using them as signals for market activity would thus be responding to outdated information.
Initial estimate: Assuming all three positions were held steady, their value reached approximately $300.24 million at $682.12. This reflects an unrealized gain of around $46.19 million since March 31. Up-to-date holdings have not been disclosed.
QQQ follows the top 100 nonfinancial firms trading on the Nasdaq. Invesco Ltd. NYSE:IVZ disclosed 104 holdings and assets totaling $452.28 billion as of July 22.
Short-term gains hinge increasingly on earnings. Microsoft NASDAQ:MSFT, Amazon.com NASDAQ:AMZN, Meta Platforms NASDAQ:META, and Apple NASDAQ:AAPL are all due to release results later this week.
Senior analyst Ipek Ozkardeskaya noted that comparable drops in cash flow may “reignite the worries” around ongoing expenditure. Investors are assessing if AI investments can generate adequate cash returns. Reuters
The Federal Reserve serves as the second catalyst. Its July 28-29 meeting will conclude Wednesday, with the policy statement expected at 2 p.m. ET. Early Tuesday, traders put the likelihood of a rate hike at 36.9%.
Momentum slowed last week, with the Nasdaq Composite posting a 2% drop—marking its second weekly loss in a row. The index edged down a further 0.18% on Monday.
Risks: Managers might have trimmed, increased, or exited these positions after March 31. QQQ may also see significant movement driven by earnings, AI spending projections, and the Federal Reserve’s decision on Wednesday.
This means investors are looking at two disclosed first-quarter additions, rather than three new buys made in July. The next comprehensive update is expected with the release of second-quarter Form 13F filings, scheduled for August 14.
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