Vault-13

INVESCO EXCHANGE TRADED FD T XLG

S&P 500 TOP 50 · ETP · CUSIP 46137V233

555 institutional holders +30 vs Q1 2025
97,448,86897.4m shares reported held*
$4.9bnreported value*
71 new 248 added 158 reduced 48 sold out net bought ≈ $293.8m (-18.3m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $50.32. Options: 2 managers hold calls ($4.7m notional), 2 hold puts ($630.4k).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 207Q4 22: 206Q1 23: 211Q2 23: 224Q3 23: 236Q4 23: 280Q1 24: 339Q2 24: 386Q3 24: 416Q4 24: 473Q1 25: 525Q2 25: 555555Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022207
Q4 2022206
Q1 2023211
Q2 2023224
Q3 2023236
Q4 2023280
Q1 2024339
Q2 2024386
Q3 2024416
Q4 2024473
Q1 2025525
Q2 2025555

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q3 23: 112 bought or addedQ3 23: 107 cut or sold outQ4 23: 148 bought or addedQ4 23: 97 cut or sold outQ4 23Q1 24: 198 bought or addedQ1 24: 106 cut or sold outQ2 24: 239 bought or addedQ2 24: 108 cut or sold outQ2 24Q3 24: 228 bought or addedQ3 24: 149 cut or sold outQ4 24: 272 bought or addedQ4 24: 127 cut or sold outQ4 24Q1 25: 294 bought or addedQ1 25: 205 cut or sold outQ2 25: 319 bought or addedQ2 25: 206 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023112107
Q4 202314897
Q1 2024198106
Q2 2024239108
Q3 2024228149
Q4 2024272127
Q1 2025294205
Q2 2025319206

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6mQ3 24 calls: $1.9mQ3 24 puts: $1.4mQ3 24P/C 0.73Q4 24 calls: $2.7mQ4 24 puts: $569.5kQ4 24P/C 0.21Q1 25 calls: $925.0kQ1 25 puts: $230.1kQ1 25P/C 0.25Q2 25 calls: $4.7mQ2 25 puts: $630.4kQ2 25P/C 0.13
Numbers
QuarterCallsPutsP/C
Q3 2024$1.9m$1.4m0.73
Q4 2024$2.7m$569.5k0.21
Q1 2025$925.0k$230.1k0.25
Q2 2025$4.7m$630.4k0.13

Biggest buyers

Soundwatch Capital LLC New +3,436,306+3.4m
ROYAL BANK OF CANADA Added +2,215,981+2.2m
Principle Wealth Partners LLC Added +1,232,337+1.2m
CW Advisors, LLC Added +678,624+678.6k
JPMORGAN CHASE & CO Added +597,737+597.7k
RAYMOND JAMES FINANCIAL INC Added +588,257+588.3k
Gladstone Institutional Advisory LLC Added +371,247+371.2k
Advocacy Wealth Management, LLC Added +350,535+350.5k
Rockefeller Capital Management L.P. Added +309,244+309.2k
Mirae Asset Global Investments Co., Ltd. Added +298,964+299.0k

Biggest sellers

Demars Financial Group, LLC Reduced -27,338,615-27.3m
Invesco Ltd. Reduced -2,223,066-2.2m
One Capital Management, LLC Reduced -641,816-641.8k
MORGAN STANLEY Reduced -517,599-517.6k
TWO SIGMA INVESTMENTS, LP Reduced -422,000-422.0k
BANK OF AMERICA CORP /DE/ Reduced -281,748-281.7k
INTEGRITY ALLIANCE, LLC. Reduced -253,982-254.0k
MANCHESTER FINANCIAL INC Sold out -206,869-206.9k
JANE STREET GROUP, LLC Sold out -182,870-182.9k
Cambridge Investment Research Advisors, Inc. Reduced -162,942-162.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $3.0m57.3k shares
CITADEL ADVISORS LLC Added $1.8m33.8k shares

Biggest puts

Belvedere Trading LLC New $333.4k6.4k shares
CITADEL ADVISORS LLC Added $297.0k5.7k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.19% of their portfolio FORT MILL, SC 10,803,25310.8m $562.8m $562.8m 0.19% Added +181.2k +181,171
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 6,624,2386.6m $345.1m $345.1m 0.02% Reduced -517.6k -517,599
3 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 3,957,2824.0m $206.2m $206.2m 0.02% Reduced -281.7k -281,748
4 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 3,563,7833.6m $185.7m $185.7m 0.04% Added +294.5k +294,466
5 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 3,465,0603.5m $180.5m $180.5m 0.02% Added +2.2m +2,215,981
6 Soundwatch Capital LLC 0.58% of their portfolio DALLAS, TX 3,436,3063.4m $3.4m $3.4m 0.58% New
7 RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio ST. PETERSBURG, FL 2,867,5322.9m $149.4m $149.4m 0.05% Added +588.3k +588,257
8 Principle Wealth Partners LLC 8.73% of their portfolio MADISON, CT 2,682,2232.7m $139.7m $139.7m 8.73% Added +1.2m +1,232,337
9 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,464,7462.5m $128.4m $128.4m 0.01% Added +597.7k +597,737
10 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 2,464,0752.5m $128.4m $128.4m 0.02% Added +61.7k +61,706
11 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.21% of their portfolio PLYMOUTH, MN 2,428,2692.4m $127.8m $127.8m 0.21% Reduced -77.7k -77,678
12 UBS Group AG 0.02% of their portfolio ZURICH, V8 2,295,1312.3m $119.6m $119.6m 0.02% Added +4.2k +4,231
13 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 1,767,7711.8m $92.1m $92.1m 0.03% Added +136.4k +136,418
14 Johnson Financial Group, Inc. 4.08% of their portfolio RACINE, WI 1,740,9071.7m $90.7m $90.7m 4.08% Added +27.9k +27,939
15 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.06% of their portfolio MILWAUKEE, WI 1,680,7241.7m $87.6m $87.6m 0.06% Reduced -39.7k -39,690
16 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,566,6641.6m $81.3m $81.3m 0.02% Added +94.5k +94,497
17 TWO SIGMA INVESTMENTS, LP 0.14% of their portfolio NEW YORK, NY 1,493,0501.5m $77.8m $77.8m 0.14% Reduced -422.0k -422,000
18 MEANS INVESTMENT CO., INC. 6.72% of their portfolio BANGOR, ME 1,360,9281.4m $70.9m $70.9m 6.72% Added +93.3k +93,257
19 GPS Wealth Strategies Group, LLC 8.00% of their portfolio CENTENNIAL, CO 1,333,3411.3m $69.5m $69.5m 8.00% Added +97.3k +97,328
20 Private Advisor Group, LLC 0.37% of their portfolio MORRISTOWN, NJ 1,326,6171.3m $69.1m $69.1m 0.37% Added +199.0k +198,989
21 Lido Advisors, LLC 0.34% of their portfolio Los Angeles, CA 1,258,7731.3m $65.6m $65.6m 0.34% Added +24.6k +24,630
22 OSAIC HOLDINGS, INC. 0.11% of their portfolio SCOTTSDALE, AZ 1,172,6991.2m $61.1m $61.1m 0.11% Added +98.7k +98,696
23 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 1,140,3691.1m $59.4m $59.4m 0.01% Reduced -2.2m -2,223,066
24 Bogart Wealth, LLC 2.42% of their portfolio MCLEAN, VA 1,084,5181.1m $56.5m $56.5m 2.42% Added +40.5k +40,514
25 Clearstead Advisors, LLC 0.67% of their portfolio CLEVELAND, OH 916,957917.0k $47.8m $47.8m 0.67% Reduced -19.5k -19,524
26 STIFEL FINANCIAL CORP 0.05% of their portfolio ST. LOUIS, MO 913,960914.0k $47.6m $47.6m 0.05% Reduced -95.1k -95,148
27 MML INVESTORS SERVICES, LLC 0.12% of their portfolio SPRINGFIELD, MA 791,812791.8k $41.3m $41.3m 0.12% Added +27.4k +27,409
28 Demars Financial Group, LLC 14.78% of their portfolio SPOKANE VALLEY, WA 738,447738.4k $38.5m $38.5m 14.78% Reduced -27.3m -27,338,615
29 CW Advisors, LLC 0.36% of their portfolio BOSTON, MA 719,865719.9k $37.5m $37.5m 0.36% Added +678.6k +678,624
30 Sanctuary Advisors, LLC 0.23% of their portfolio INDIANAPOLIS, IN 714,909714.9k $37.2m $37.2m 0.23% Added +172.4k +172,398
31 Advocacy Wealth Management, LLC 2.24% of their portfolio ATLANTA, GA 699,173699.2k $36.4m $36.4m 2.24% Added +350.5k +350,535
32 HighTower Advisors, LLC 0.04% of their portfolio CHICAGO, IL 683,314683.3k $35.6m $35.6m 0.04% Added +263.3k +263,317
33 Integrated Wealth Concepts LLC 0.33% of their portfolio WALTHAM, MA 630,288630.3k $32.8m $32.8m 0.33% Added +97.7k +97,697
34 Rockefeller Capital Management L.P. 0.04% of their portfolio NEW YORK, NY 598,728598.7k $31.2m $31.2m 0.04% Added +309.2k +309,244
35 Mirae Asset Global Investments Co., Ltd. 0.11% of their portfolio SEOUL, M5 581,964582.0k $30.3m $30.3m 0.11% Added +299.0k +298,964
36 Apexium Financial, LP 1.54% of their portfolio Dallas, TX 555,497555.5k $28.9m $28.9m 1.54% Added +14.6k +14,554
37 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 532,836532.8k $27.8m $27.8m 0.05% Added +341 +341
38 Austin Private Wealth, LLC 2.18% of their portfolio Austin, TX 527,918527.9k $27.5m $27.5m 2.18% Added +196.8k +196,832
39 Gladstone Institutional Advisory LLC 1.09% of their portfolio Bedminster, NJ 504,830504.8k $26.3m $26.3m 1.09% Added +371.2k +371,247
40 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 482,525482.5k $25.1m $25.1m 0.03% Added +78.9k +78,855
41 QUATTRO FINANCIAL ADVISORS LLC 8.81% of their portfolio The Woodlands, TX 479,979480.0k $25.0m $25.0m 8.81% Reduced -52.2k -52,235
42 Stratos Wealth Partners, LTD. 0.34% of their portfolio BEACHWOOD, OH 477,772477.8k $24.9m $24.9m 0.34% Added +83.6k +83,579
43 Cedar Wealth Management, LLC 8.42% of their portfolio LA JOLLA, CA 477,174477.2k $24.9m $24.9m 8.42% Added +10.9k +10,869
44 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 475,445475.4k $24.7m $24.7m 0.02% Added +159.8k +159,788
45 Baird Financial Group, Inc. 0.04% of their portfolio MILWAUKEE, WI 391,908391.9k $20.4m $20.4m 0.04% Reduced -137.2k -137,232
46 Cambridge Investment Research Advisors, Inc. 0.06% of their portfolio FAIRFIELD, IA 382,892382.9k $19.9m $19.9m 0.06% Reduced -162.9k -162,942
47 Core Wealth Advisors, Inc. 5.41% of their portfolio LAKELAND, FL 361,470361.5k $18.8m $18.8m 5.41% Reduced -15.0k -15,002
48 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 345,272345.3k $18.0m $18.0m 0.00% Added +5.8k +5,801
49 Global Retirement Partners, LLC 0.43% of their portfolio San Rafael, CA 331,025331.0k $17.2m $17.2m 0.43% First filing
50 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 322,811322.8k $16.8m $16.8m 0.01% Added +65.4k +65,355
51 Kestra Advisory Services, LLC 0.08% of their portfolio AUSTIN, TX 322,492322.5k $16.8m $16.8m 0.08% Added +105.9k +105,917
52 Segment Wealth Management, LLC 0.99% of their portfolio HOUSTON, TX 299,338299.3k $15.6m $15.6m 0.99% Added +3.8k +3,758
53 One Capital Management, LLC 0.52% of their portfolio WESTLAKE VILLAGE, CA 286,865286.9k $14.9m $14.9m 0.52% Reduced -641.8k -641,816
54 Bricktown Capital, LLC 2.68% of their portfolio DETROIT, MI 283,766283.8k $14.8m $14.8m 2.68% Unchanged
55 EP Wealth Advisors, LLC 0.10% of their portfolio TORRANCE, CA 283,259283.3k $14.8m $14.8m 0.10% Added +258.9k +258,892
56 Equitable Holdings, Inc. 0.11% of their portfolio NEW YORK, NY 262,464262.5k $13.7m $13.7m 0.11% Reduced -18.1k -18,128
57 Farther Finance Advisors, LLC 0.27% of their portfolio SAN FRANCISCO, CA 255,605255.6k $13.3m $13.3m 0.27% Reduced -39 -39
58 C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors 0.86% of their portfolio Westlake, OH 253,034253.0k $13.2m $13.2m 0.86% Added +84.9k +84,889
59 IFG Advisory, LLC 0.65% of their portfolio ATLANTA, GA 246,814246.8k $12.9m $12.9m 0.65% Added +15.3k +15,306
60 Stenger Family Office, LLC 3.41% of their portfolio Naperville, IL 245,428245.4k $13.2m $13.2m 3.41% First filing
61 Cyr Financial Inc. 9.44% of their portfolio HENNEPIN, IL 234,611234.6k $12.2m $12.2m 9.44% Added +32.7k +32,666
62 PMG Wealth Management, Inc. 9.90% of their portfolio Hawthorn Woods, IL 230,328230.3k $12.0m $12.0m 9.90% Added +4.4k +4,391
63 OneDigital Investment Advisors LLC 0.13% of their portfolio OVERLAND PARK, KS 222,264222.3k $11.6m $11.6m 0.13% Reduced -63.8k -63,750
64 NewEdge Advisors, LLC 0.06% of their portfolio NEW ORLEANS, LA 218,162218.2k $11.4m $11.4m 0.06% Added +52.5k +52,483
65 Avestar Capital, LLC 0.80% of their portfolio New York, NY 210,218210.2k $11.0m $11.0m 0.80% Added +27.2k +27,160
66 Summit Financial, LLC 0.25% of their portfolio PARSIPPANY, NJ 209,126209.1k $10.9m $10.9m 0.25% Reduced -25.8k -25,799
67 PRECEDENT WEALTH PARTNERS, LLC 2.65% of their portfolio HOUSTON, TX 207,801207.8k $10.8m $10.8m 2.65% Reduced -14.0k -14,023
68 CENTAURUS FINANCIAL, INC. 0.61% of their portfolio ANAHEIM, CA 201,811201.8k $10.5m $10.5m 0.61% Reduced -24.3k -24,299
69 POM Investment Strategies, LLC 7.49% of their portfolio RALEIGH, NC 201,204201.2k $10.5m $10.5m 7.49% Added +196.9k +196,896
70 Asset Allocation Strategies LLC 2.30% of their portfolio FARMINGTON, MI 200,122200.1k $10.4m $10.4m 2.30% Reduced -37.7k -37,689
71 Mariner, LLC 0.02% of their portfolio Overland Park, KS 199,483199.5k $10.4m $10.4m 0.02% Reduced -18.4k -18,441
72 World Investment Advisors 0.23% of their portfolio LINCROFT, NJ 194,724194.7k $10.1m $10.1m 0.23% Added +21.8k +21,806
73 Atria Investments, Inc 0.12% of their portfolio Charlotte, NC 193,809193.8k $10.1m $10.1m 0.12% Reduced -7.7k -7,677
74 THOROUGHBRED FINANCIAL SERVICES, LLC 0.68% of their portfolio BRENTWOOD, TN 187,075187.1k $9.7m $9.7m 0.68% Reduced -33.3k -33,328
75 Horst & Graben Wealth Management LLC 1.61% of their portfolio PORTLAND, OR 186,806186.8k $9.7m $9.7m 1.61% Added +70.6k +70,570
76 Physician Wealth Advisors, Inc. 1.52% of their portfolio MIDVALE, UT 185,500185.5k $9.7m $9.7m 1.52% Added +64.5k +64,499
77 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 173,819173.8k $9.1m $9.1m 0.02% Reduced -2.9k -2,851
78 JSF Financial, LLC 2.12% of their portfolio LOS ANGELES, CA 171,132171.1k $8.9m $8.9m 2.12% Added +9.1k +9,078
79 Elevation Capital Advisory, LLC 3.52% of their portfolio BEND, OR 168,765168.8k $8.8m $8.8m 3.52% Added +159.0k +159,026
80 Keystone Financial Group 0.79% of their portfolio LEXINGTON, KY 167,415167.4k $8.7m $8.7m 0.79% Added +45.7k +45,657
81 BANK HAPOALIM BM 1.03% of their portfolio TEL AVIV, L3 164,725164.7k $7.6m $7.6m 1.03% Unchanged
82 JOHNSON INVESTMENT COUNSEL INC 0.07% of their portfolio Cincinnati, OH 157,862157.9k $8.2m $8.2m 0.07% Reduced -908 -908
83 CFS Investment Advisory Services, LLC 0.67% of their portfolio TOTOWA, NJ 157,264157.3k $8.2m $8.2m 0.67% Added +65.8k +65,765
84 Holt Capital Advisors, L.L.C. dba Holt Capital Partners, L.P. 1.36% of their portfolio FORT WORTH, TX 151,238151.2k $7.9m $7.9m 1.36% Added +16.0k +15,972
85 One Wealth Advisors, LLC 1.09% of their portfolio SAN FRANCISCO, CA 150,305150.3k $7.8m $7.8m 1.09% Added +46.3k +46,349
86 ASHTON THOMAS SECURITIES, LLC 1.85% of their portfolio ROCHESTER, NY 147,063147.1k $7.7m $7.7m 1.85% New
87 ShoreHaven Wealth Partners, LLC 3.06% of their portfolio Red Bank, NJ 143,441143.4k $7.5m $7.5m 3.06% Added +36.2k +36,202
88 Stratos Wealth Advisors, LLC 0.39% of their portfolio BEACHWOOD, OH 142,853142.9k $7.4m $7.4m 0.39% Added +5.5k +5,517
89 Concurrent Investment Advisors, LLC 0.14% of their portfolio Tampa, FL 140,585140.6k $7.3m $7.3m 0.14% Added +61.6k +61,598
90 Jackson Wealth Management, LLC 0.79% of their portfolio LAKE MARY, FL 139,449139.4k $7.3m $7.3m 0.79% Reduced -634 -634
91 D.A. DAVIDSON & CO. 0.05% of their portfolio GREAT FALLS, MT 136,937136.9k $7.1m $7.1m 0.05% Reduced -5.0k -4,976
92 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 136,616136.6k $7.1m $7.1m 0.01% New
93 Seros Financial, LLC 4.49% of their portfolio TEMPE, AZ 135,862135.9k $7.1m $7.1m 4.49% Added +5.5k +5,509
94 KPP Advisory Services LLC 1.16% of their portfolio Louisville, KY 134,614134.6k $7.0m $7.0m 1.16% Reduced -9.5k -9,513
95 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 133,028133.0k $6.9m $6.9m 0.00% Added +75.5k +75,506
96 AE Wealth Management LLC 0.05% of their portfolio TOPEKA, KS 126,429126.4k $6.6m $6.6m 0.05% Added +52.6k +52,645
97 Leo Wealth, LLC 0.51% of their portfolio HURST, TX 125,795125.8k $6.6m $6.6m 0.51% Added +9.9k +9,915
98 Consolidated Portfolio Review Corp 0.89% of their portfolio WOODBURY, NY 123,060123.1k $6.4m $6.4m 0.89% Added +4.6k +4,598
99 Mutual Advisors, LLC 0.16% of their portfolio OMAHA, NE 122,335122.3k $6.6m $6.6m 0.16% Added +84.3k +84,272
100 PARK AVENUE SECURITIES LLC 0.06% of their portfolio NEW YORK, NY 119,509119.5k $6.2m $6.2m 0.06% Added +31.4k +31,433