Finance
Invesco launches ETF to maximize on the tech concentration craze
Invesco launched an exchange-traded fund designed to give investors exposure to the top 45% of companies in the Nasdaq-100 Index.
Brian Hartigan, the firm’s global head of ETFs and index instruments, runs Invesco QQQ Trust (QQQ), which is the fifth-largest ETF in the world, according to VettaFi. Now Hartigan is taking on the Invesco Top QQQ ETF (QBIG), which launched Dec. 4.
According to Hartigan, there is a demand to capture the megacap concentration story within the Nasdaq.
“That’s what investors were asking us for. How do I dial up that, that exposure and really capture the majority of the drivers of returns in the Nasdaq,” Hartigan said on CNBC’s “ETF Edge” this week.
As of Wednesday, some of Invesco Top QQQ ETF’s top holdings were Apple, Nvidia and Microsoft, according to Invesco’s website.
Hartigan notes investors can balance out their portfolio risk with similar funds.
“You have this precision that investors are using ETFs to really balance out either under concentration or over concentration for their portfolios,” he said.
As of Friday’s close, Invesco Top QQQ ETF is up around 5.5% since its debut.
Nate Geraci, president of The ETF Store, notes other new funds have launched to allow investors to be concentrated on megacaps.
“We’ve seen other issuers launch products either targeting the largest mega-cap names or specifically avoiding them. And what that tells you is issuers are clearly aware of this battle of the markets right now. I think we’re going to continue to see sort of this tug of war play out moving forward,” he said.
Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022.
Chris Ratcliffe | Bloomberg via Getty Images
Klarna saw its losses jump in the first quarter as the popular buy now, pay later firm applies the brakes on a hotly anticipated U.S. initial public offering.
The Swedish payments startup said its net loss for the first three months of 2025 totaled $99 million — significantly worse than the $47 million loss it reported a year ago. Klarna said this was due to several one-off costs related to depreciation, share-based payments and restructuring.
Revenues at the firm increased 13% year-over-year to $701 million. Klarna said it now has 100 million active users and 724,00 merchant partners globally.
It comes as Klarna remains in pause mode regarding a highly anticipated U.S. IPO that was at one stage set to value the SoftBank-backed company at over $15 billion.
Klarna put its IPO plans on hold last month due to market turbulence caused by President Donald Trump’s sweeping tariff plans. Online ticketing platform StubHub also put its IPO plans on ice.
Prior to the IPO delay, Klarna had been on a marketing blitz touting itself as an artificial intelligence-powered fintech. The company partnered up with ChatGPT maker OpenAI in 2023. A year later, Klarna used OpenAI technology to create an AI customer service assistant.
Last week, Klarna CEO Sebastian Siemiatkowski said the company was able to shrink its headcount by about 40%, in part due to investments in AI.
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