On October 20, 2025, Miracle Mile Advisors, LLC disclosed a significant sale of Invesco QQQ Trust, Series 1 (QQQ +1.16%), reducing its holdings by 137,237 shares in an estimated $78.59 million trade for the third quarter.
What happened
According to a filing with the Securities and Exchange Commission dated October 20, 2025, Miracle Mile Advisors, LLC reduced its position in Invesco QQQ by 137,237 shares during the quarter. The estimated value of the sale, calculated using average closing prices during the quarter, was $78.59 million. The fund retained 263,399 shares at the quarter's end.
What else to know
This was a sale; QQQ now accounts for 2.4% of Miracle Mile Advisors, LLC's 13F reportable AUM.
Top holdings after the filing:
- NYSEMKT:SCHF: $302.35 million (4.5% of AUM as of September 30, 2025)
- NYSEMKT:GBIL: $252.20 million (3.8% of AUM as of September 30, 2025)
- NASDAQ:BND: $251.72 million (3.8% of AUM as of September 30, 2025)
- NYSEMKT:SPLG: $219.05 million (3.3% of AUM as of September 30, 2025)
- NASDAQ:MSFT: $215.15 million (3.2% of AUM as of September 30, 2025)
As of October 20, 2025, shares of Invesco QQQ Trust were priced at $611.54, up 23.7% over the past year and outperforming the S&P 500 by 9.86 percentage points.
Company overview
| Metric | Value |
|---|---|
| Net Assets | $385.76 billion |
| Price (as of market close October 20, 2025) | $611.54 |
| Dividend yield | 0.47% |
| 1-year total return | 23.7% |
Company snapshot
Invesco QQQ Trust seeks to track the performance of the NASDAQ-100 Index® by holding a portfolio that mirrors the index's composition and weighting.
The fund is structured as a passively managed exchange-traded fund (ETF) focused on low-cost index replication, and it offers exposure to leading non-financial companies in the U.S. equity market.
Foolish take
Miracle Mile Advisors, LLC reduced its position in Invesco QQQ Trust during the third quarter, selling approximately 137,000 shares. While it's a big move in dollar terms as a $78 million sale, it only represents a 1.2% shift in the fund's AUM.
The timing of this sell is notable, as QQQ has had a strong run. The ETF is up by approximately 20% year to date and close to 24% over the last 12 months ending October 20, 2025.
It's not surprising, then, that an institutional investor would want to capitalize on those gains. Considering Miracle Mile Advisors still retains over 263,000 shares of QQQ and the ETF is the eighth-largest holding in its portfolio, it's likely this sell was more about profit-taking and less about losing faith in the investment itself.
Glossary
ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.
NASDAQ-100 Index®: A stock market index of 100 of the largest non-financial companies listed on the NASDAQ exchange.
13F reportable assets: Securities that institutional investment managers must disclose quarterly to the SEC if they exceed a certain value.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Passively managed: An investment strategy aiming to replicate the performance of a specific index, not actively selecting securities.
Index replication: A strategy where a fund holds securities in the same proportion as a target index to match its performance.
Dividend yield: The annual dividends paid by an investment, expressed as a percentage of its current price.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
Quarter (Q3 2025): A three-month period in a company's financial calendar; Q3 refers to July–September.
Stake: The amount or percentage of ownership an investor holds in a particular security or fund.
