On Aug. 7, Davidson Capital Management reported purchasing 11,222 shares of Invesco QQQ Trust, Series 1(QQQ -0.30%) in Q2 2025, a transaction valued at approximately $5.58 million for the quarter ended June 30.
Key points
The firm increased its QQQ holdings by 11,222 shares with a transaction value of $5.58 million.
The trade represented 1.3% of Davidson Capital’s 13F reportable assets under management.
Post-trade, the fund’s QQQ stake was 52,570 shares as of June 30, valued at $29.00 million.
QQQ is Davidson Capital’s fourth-largest position, now accounting for 7% of 13F AUM as of Q2 2025
What happened
According to a recent SEC filing, Davidson Capital Management bought 11,222 additional shares of Invesco QQQ Trust, Series 1 in Q2 2025. The purchase brought its total QQQ holdings to 52,570 shares as of June 30, with a market value of $29.82 million as of Aug. 6, 2025. The fund’s total 13F assets under management stood at $416.4 million as of Q2 2025, across 78 positions.
What else to know
This purchase increased QQQ’s stake to 6.96% of Davidson Capital’s 13F AUM as of June 30. Top holdings after the filing:
VCIT: $71.24 million (17.1% of AUM)
XMMO: $50.34 million (12.1% of AUM)
SPHQ: $43.54 million (10.5% of AUM)
QQQ: $29.86 million (7.2% of AUM)
RSP: $29.56 million (7.1% of AUM)
QQQ shares were priced at $567.32 as of Aug. 6, up 21.1% over the past year, outperforming the S&P 500 by 8.33 percentage points over this period.
The dividend yield was 0.5% and forward price-to-earnings ratio was 33.25 as of Aug. 7, 2025, while the shares were 1.2% below their 52-week high as of Aug. 6.
ETF overview
| Metric | Value |
|---|---|
| Current price | $567.32 |
| Dividend yield | 0.50% |
| One-year price change | 21.11% |
ETF snapshot
Offers a passively managed exchange-traded fund (ETF) tracking the performance of the NASDAQ-100 Index.
The portfolio composition is adjusted to mirror the NASDAQ-100 Index.
Serves both institutional and retail investors seeking exposure to large-cap U.S. growth stocks.
The fund is designed to closely replicate the performance of the NASDAQ-100 Index. Its strategy leverages index-based investing to provide efficient, broad exposure to the NASDAQ-100 Index for a diverse investor base.
Foolish take
Invesco QQQ Trust is one of the best known ETFs that tracks the NASDAQ, and for good reason. On a long investing time horizon, QQQ has beat the market every time, with a 1,490% return over 20 years, versus the S&P 500’s 600% return. But even its five year return is about 110% versus the S&P’s 81%. Because it focuses on tech stocks, it’s definitely had some bad years in the shorter term, but the growth of the tech industry tends to balance that out.
As of August 2025, the top holdings in the QQQ include Microsoft (9.6%), Apple (8.9%), Nvidia (8.5%), Amazon (6.4%), and Alphabet (6.8%), all companies that are as much a sure thing as anything can be in this sector. These companies, along with the others in the top 10 holdings, representing over half of the fund, have strong balance sheets, constantly churning pipelines, and huge contracts with long-term business plans. They’re established leaders in their segments, with huge and deep moats.
Although this alone is a good reason to invest in QQQ, it’s also something to watch with this fund. Because so much of it is concentrated in tech companies and just a handful of them, at that, a downturn in the tech sector can be devastating for QQQ shareholders. Companies like Microsoft are likely to recover, even in the bubbliest of bubbles, it’s still important to balance your portfolio with something less tech-oriented.
Glossary
13F reportable assets under management (AUM): The total value of securities a fund manager must disclose quarterly to the SEC on Form 13F.
Exchange-traded fund (ETF): An investment fund traded on stock exchanges, holding assets like stocks or bonds and tracking an index.
NASDAQ-100 Index: A stock market index of 100 of the largest non-financial companies listed on the NASDAQ exchange.
Passively managed: An investment strategy aiming to replicate the performance of a market index rather than actively selecting securities.
Index-based investing: A strategy where a portfolio is constructed to mirror the components and performance of a specific market index.
Dividend yield: A financial ratio showing how much a company pays in dividends each year relative to its share price.
Forward price-to-earnings ratio: A valuation metric comparing a company's current share price to its expected future earnings per share.
52-week high: The highest price at which a security has traded during the previous 52 weeks.
