Invesco Ltd: Form 8.3 - Aqua Acquisition Sub LLC (an indirect wholly-owned subsidiary of Qualcomm Inc); Public dealing disclosure

Invesco Ltd filed a Rule 8.3 public dealing disclosure dated 09.12.2025 showing it holds 33,621,666 shares (3.13%) of the USD 0.0001 common (ISIN US7475251036) in connection with Aqua Acquisition Sub LLC (an indirect wholly owned subsidiary of Qualcomm Inc) and noting it is also making disclosures in respect of Alphawave IP Group plc; the position date is 08.12.2025. The filing records small block purchases (100, 7, 11 and 26 shares) at $174.09–$175.31 and a sale of 4,449 shares at $175.31, and explains a 16,331‑share change since the prior disclosure due to a transfer out of a discretionary holding; no derivatives, indemnities or other arrangements were disclosed. The disclosure confirms Invesco’s >3% stake in the relevant securities amid the Qualcomm/Aqua acquisition context and shows only routine transactional activity with no special voting or derivative arrangements reported.

Analysis

Invesco Ltd filed a Rule 8.3 public dealing disclosure dated 09.12.2025 (position held as of 08.12.2025) reporting ownership of 33,621,666 shares, representing 3.13% of the USD 0.0001 common (ISIN US7475251036) linked to Aqua Acquisition Sub LLC (an indirect wholly‑owned subsidiary of Qualcomm Inc.), and stated it is also making disclosures in respect of Alphawave IP Group plc. The filing records modest executed trades—purchases of 100, 7, 11 and 26 shares at $174.09–$175.31 and a sale of 4,449 shares at $175.31—and explains a 16,331‑share change since the prior disclosure due to a transfer out of a discretionary holding at $175.31.

The disclosure declares no cash‑ or stock‑settled derivatives, no indemnities or other arrangements, and no supplemental Form 8 (open positions), indicating a straightforward equity stake rather than option exposure or formal voting arrangements. That trading pattern and the absence of arrangements are consistent with a passive institutional holding rather than an active block trade or coordinated derivative strategy.

Because the stake exceeds the 1%/reporting thresholds and stands at 3.13% amid an M&A/offeree context, the position is material to interested parties and will be monitored by counterparties and regulators; however, the provided sentiment and market‑impact signals are neutral to modestly positive (market impact score 0.15, QCOM sentiment 0.2), implying limited immediate market reaction. Investors should treat this as a disclosure of a significant passive position and watch for further filings that would reveal voting intentions or position changes that could affect the ongoing Qualcomm/Aqua/Alphawave process.

Key Decisions for Investors

• Monitor subsequent Invesco Form 8.3 updates or any Supplemental Form 8 for changes in stake or open derivative positions, as these would signal a shift from passive to active engagement
• Do not base trading decisions solely on this disclosure given small executed trades and absence of arrangements; regard the holding as a disclosed passive institutional position unless further filings indicate activism
• Track M&A developments involving Aqua Acquisition Sub LLC/Qualcomm and Alphawave IP Group plc and reassess exposure if Invesco’s percentage or stated voting intentions change, consider short‑term hedging if uncertainty around the takeover terms increases