Walker Financial Buys $8 Million in Invesco NASDAQ 100 ETF as Tech Giants Keep Driving Markets

On Tuesday, Walker Financial Services, Inc. disclosed a new position in the Invesco NASDAQ 100 ETF (NASDAQ:QQQM), purchasing 32,301 shares valued at an estimated $8 million at the end of the third quarter, according to an SEC filing.

What happened

According to a filing with the Securities and Exchange Commission released on Tuesday, Walker Financial Services, Inc. established a new position in QQQM in the third quarter, acquiring approximately 32,301 shares. The estimated transaction value, based on the average price for the quarter, was about $8 million, bringing the stake to 3.1% of the firm's $257.1 million U.S. equity holdings.

What else to know

This is a new position; as of September 30, QQQM comprised 3.1% of the fund’s reportable assets under management (AUM).

Top holdings after the filing:

• NYSEMKT:SCHD: $32.3 million (12.6% of AUM)
• NYSEMKT:SPSB: $29.4 million (11.5% of AUM)
• NYSEMKT:TFLO: $27.6 million (10.8% of AUM)
• NYSEMKT:FLOT: $22.5 million (8.7% of AUM)
• NYSEMKT:STIP: $16.4 million (6.4% of AUM)

As of Wednesday morning, shares were priced at $250.36, up 24% for the year and outperforming the S&P 500 by about 7 percentage points.

The fund reported 42 U.S. equity positions at quarter-end.

QQQM’s stated dividend yield is 0.5% as of Tuesday.

Company overview

Company snapshot

• QQQM seeks to track the performance of the NASDAQ-100 Index by investing at least 90% of its assets in the index's constituent securities, providing exposure to 100 of the largest non-financial companies listed on the Nasdaq Stock Market.
• Structured as a passively managed exchange-traded fund (ETF), designed for investors seeking access to the NASDAQ-100 through a single exchange-traded vehicle.
• Targets institutional and individual investors looking for diversified exposure to large-cap, non-financial U.S. equities.

QQQM invests in large-cap, non-financial companies listed on the Nasdaq Stock Market. The fund's strategy leverages the NASDAQ-100 Index methodology, ensuring transparent and rules-based portfolio construction.

Foolish take

Walker Financial’s $8 million investment in the Invesco NASDAQ 100 ETF (QQQM) shows continued institutional appetite for large-cap growth stocks leading the market higher. The ETF, which tracks 100 of the largest nonfinancial Nasdaq-listed companies, is up 24% over the past year, outperforming the S&P 500’s 17% gain.

QQQM’s top holdings reflect the dominance of U.S. tech giants: Nvidia, which has surged 43% over the past year, and Microsoft, up 27%, together account for roughly 18% of fund assets. Other core positions—Apple, Amazon, Broadcom, and Meta—round out a portfolio that captures the innovation driving the AI and cloud infrastructure boom. The ETF’s expense ratio of just 0.15% makes it one of the most cost-efficient ways to access this concentrated growth theme.

For long-term investors, QQQM offers a diversified vehicle for capturing the Nasdaq-100’s outsized innovation exposure—without the trading premium sometimes associated with its sister fund, QQQ (expense ratio: 0.2%).

Glossary

ETF: Exchange-traded fund; a fund traded on stock exchanges, holding a basket of assets like stocks or bonds.

Assets under management (AUM): The total market value of assets a fund or investment firm manages on behalf of clients.

Position: The amount of a particular security or asset held in a portfolio.

Dividend yield: Annual dividends paid by a fund or stock, expressed as a percentage of its price.

Passively managed: A fund strategy that aims to replicate the performance of a market index rather than actively selecting investments.

Constituent securities: The individual stocks or assets that make up an index or portfolio.

Index methodology: The rules and criteria used to select and weight securities in an index.

Quarter-end: The last day of a financial quarter, used as a reference point for reporting.

Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.

Stake: The ownership interest or amount of investment held in a particular asset or company.

Outperforming: Achieving a higher return than a benchmark or comparable investment over a specific period.

Reportable: Required to be disclosed in official filings or reports, usually due to regulatory thresholds.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.