Vault-13

INVESCO EXCHANGE TRADED FD T RSP

S&P500 EQL WGT · ETP · CUSIP 46137V357

2,133 institutional holders +181 vs Q3 2025
293,665,148293.7m shares reported held*
$56.0bnreported value*
162 new 889 added 648 reduced 92 sold out net bought ≈ $3.2bn (+16.6m 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 ($78.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $190.73. Options: 30 managers hold calls ($1.9bn notional), 36 hold puts ($2.8bn).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 22: 1,076Q4 22: 1,190Q1 23: 1,213Q2 23: 1,287Q3 23: 1,332Q4 23: 1,516Q1 24: 1,581Q2 24: 1,605Q3 24: 1,700Q4 24: 1,917Q1 25: 1,948Q2 25: 1,954Q3 25: 1,952Q4 25: 2,1332,133Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 20221,076
Q4 20221,190
Q1 20231,213
Q2 20231,287
Q3 20231,332
Q4 20231,516
Q1 20241,581
Q2 20241,605
Q3 20241,700
Q4 20241,917
Q1 20251,948
Q2 20251,954
Q3 20251,952
Q4 20252,133

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ1 24: 859 bought or addedQ1 24: 595 cut or sold outQ2 24: 793 bought or addedQ2 24: 666 cut or sold outQ2 24Q3 24: 959 bought or addedQ3 24: 573 cut or sold outQ4 24: 987 bought or addedQ4 24: 604 cut or sold outQ4 24Q1 25: 1,063 bought or addedQ1 25: 737 cut or sold outQ2 25: 909 bought or addedQ2 25: 871 cut or sold outQ2 25Q3 25: 878 bought or addedQ3 25: 850 cut or sold outQ4 25: 1,051 bought or addedQ4 25: 740 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024859595
Q2 2024793666
Q3 2024959573
Q4 2024987604
Q1 20251,063737
Q2 2025909871
Q3 2025878850
Q4 20251,051740

Calls vs puts

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

CallsPuts
$0$1bn$2bn$3bn$4bnQ1 25 calls: $1.6bnQ1 25 puts: $3.1bnQ1 25P/C 1.98Q2 25 calls: $898.7mQ2 25 puts: $1.6bnQ2 25P/C 1.81Q3 25 calls: $2.2bnQ3 25 puts: $2.8bnQ3 25P/C 1.29Q4 25 calls: $1.9bnQ4 25 puts: $2.8bnQ4 25P/C 1.52
Numbers
QuarterCallsPutsP/C
Q1 2025$1.6bn$3.1bn1.98
Q2 2025$898.7m$1.6bn1.81
Q3 2025$2.2bn$2.8bn1.29
Q4 2025$1.9bn$2.8bn1.52

Biggest buyers

GOLDMAN SACHS GROUP INC Added +3,722,034+3.7m
UBS Group AG Added +2,795,631+2.8m
MORGAN STANLEY Added +2,285,526+2.3m
Varma Mutual Pension Insurance Co New +1,708,000+1.7m
Clal Insurance Enterprises Holdings Ltd New +1,600,000+1.6m
BW Gestao de Investimentos Ltda. New +1,499,100+1.5m
MOORE CAPITAL MANAGEMENT, LP Added +1,186,558+1.2m
Duquesne Family Office LLC New +1,173,925+1.2m
VOYA INVESTMENT MANAGEMENT LLC New +1,141,275+1.1m
STATE OF WISCONSIN INVESTMENT BOARD Added +1,060,181+1.1m

Biggest sellers

TEXAS PERMANENT SCHOOL FUND CORP Reduced -3,720,595-3.7m
JPMORGAN CHASE & CO Reduced -3,683,043-3.7m
Phoenix Financial Ltd. Reduced -1,911,322-1.9m
KEYBANK NATIONAL ASSOCIATION/OH Reduced -1,295,945-1.3m
Junto Capital Management LP Sold out -1,222,043-1.2m
MEITAV INVESTMENT HOUSE LTD Reduced -773,392-773.4k
SOROS FUND MANAGEMENT LLC Reduced -725,548-725.5k
Squarepoint Ops LLC Sold out -571,865-571.9k
Bracebridge Capital, LLC Sold out -529,100-529.1k
ROYAL BANK OF CANADA Reduced -412,815-412.8k

Biggest calls

CITADEL ADVISORS LLC Reduced $447.8m2.3m shares
JANE STREET GROUP, LLC Added $355.3m1.9m shares
MOORE CAPITAL MANAGEMENT, LP New $287.3m1.5m shares
BARCLAYS PLC Added $166.8m870.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $140.3m732.6k shares
SONA ASSET MANAGEMENT (US) LLC New $113.1m590.5k shares
Fund 1 Investments, LLC New $67.0m350.0k shares
UBS Group AG Added $58.2m303.8k shares
Jefferies Financial Group Inc. Added $29.3m153.0k shares
GOLDMAN SACHS GROUP INC Reduced $28.7m150.0k shares

Biggest puts

FARALLON CAPITAL MANAGEMENT, L.L.C. Reduced $689.6m3.6m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $686.3m3.6m shares
CITADEL ADVISORS LLC Reduced $323.4m1.7m shares
JANE STREET GROUP, LLC Added $271.9m1.4m shares
North Peak Capital Management, LLC Unchanged $263.2m1.4m shares
BAYVIEW ASSET MANAGEMENT, LLC New $211.6m1.1m shares
BARCLAYS PLC Added $72.9m380.8k shares
CITIGROUP INC Unchanged $67.0m350.0k shares
UBS Group AG Reduced $49.8m260.2k shares
GOLDMAN SACHS GROUP INC Reduced $28.7m150.0k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.36% of their portfolio NEW YORK, NY 31,346,21731.3m $6.0bn $6.0bn 0.36% Added +2.3m +2,285,526
2 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 3.18% of their portfolio MILWAUKEE, WI 26,252,21726.3m $5.0bn $5.0bn 3.18% Added +959.2k +959,176
3 BANK OF AMERICA CORP /DE/ 0.30% of their portfolio CHARLOTTE, NC 21,802,61921.8m $4.2bn $4.2bn 0.30% Added +783.8k +783,782
4 GOLDMAN SACHS GROUP INC 0.32% of their portfolio NEW YORK, NY 11,696,71011.7m $2.2bn $2.2bn 0.32% Added +3.7m +3,722,034
5 Invesco Ltd. 0.18% of their portfolio ATLANTA, GA 10,144,78410.1m $1.9bn $1.9bn 0.18% Added +444.8k +444,846
6 UBS Group AG 0.37% of their portfolio ZURICH, V8 9,824,7929.8m $1.9bn $1.9bn 0.37% Added +2.8m +2,795,631
7 STATE OF WISCONSIN INVESTMENT BOARD 3.65% of their portfolio MADISON, WI 8,485,5198.5m $1.6bn $1.6bn 3.65% Added +1.1m +1,060,181
8 WELLS FARGO & COMPANY/MN 0.25% of their portfolio SAN FRANCISCO, CA 6,624,0636.6m $1.3bn $1.3bn 0.25% Reduced -43.4k -43,384
9 LPL Financial LLC 0.29% of their portfolio FORT MILL, SC 5,486,9485.5m $1.1bn $1.1bn 0.29% Added +362.4k +362,412
10 TEXAS PERMANENT SCHOOL FUND CORP 47.94% of their portfolio AUSTIN, TX 5,469,8965.5m $1.0bn $1.0bn 47.94% Reduced -3.7m -3,720,595
11 Cresset Asset Management, LLC 3.49% of their portfolio Chicago, IL 4,284,4544.3m $820.7m $820.7m 3.49% Added +257.1k +257,063
12 Japan Science & Technology Agency 13.35% of their portfolio TOKYO, M0 3,792,1123.8m $726.4m $726.4m 13.35% Unchanged
13 RAYMOND JAMES FINANCIAL INC 0.22% of their portfolio ST. PETERSBURG, FL 3,700,0723.7m $708.8m $708.8m 0.22% Reduced -19.0k -19,036
14 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 3.47% of their portfolio HARRISBURG, PA 3,579,6503.6m $685.7m $685.7m 3.47% Added +9.3k +9,309
15 AMERIPRISE FINANCIAL INC 0.15% of their portfolio MINNEAPOLIS, MN 3,551,6583.6m $680.3m $680.3m 0.15% Added +26.1k +26,100
16 ROYAL BANK OF CANADA 0.10% of their portfolio TORONTO, A6 3,090,8923.1m $592.1m $592.1m 0.10% Reduced -412.8k -412,815
17 TRUIST FINANCIAL CORP 0.71% of their portfolio CHARLOTTE, NC 2,757,7132.8m $528.3m $528.3m 0.71% Reduced -116.9k -116,898
18 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.80% of their portfolio TORONTO, A6 2,460,0002.5m $471.2m $471.2m 0.80% Added +285.0k +285,000
19 KEYBANK NATIONAL ASSOCIATION/OH 1.59% of their portfolio BROOKLYN, OH 2,320,6202.3m $444.5m $444.5m 1.59% Reduced -1.3m -1,295,945
20 BNP PARIBAS FINANCIAL MARKETS 0.27% of their portfolio PARIS, I0 2,260,5842.3m $433.0m $433.0m 0.27% Reduced -245.6k -245,615
21 Cerity Partners LLC 0.55% of their portfolio NEW YORK, NY 1,963,4782.0m $376.1m $376.1m 0.55% Added +207.1k +207,096
22 Focus Partners Wealth 0.41% of their portfolio ST LOUIS, MO 1,874,2851.9m $359.0m $359.0m 0.41% Added +577.2k +577,151
23 CITIGROUP INC 0.24% of their portfolio NEW YORK, NY 1,872,3031.9m $358.7m $358.7m 0.24% Added +715.2k +715,181
24 CHAI TRUST CO LLC 7.32% of their portfolio CHICAGO, IL 1,865,4941.9m $84.9m $84.9m 7.32% Unchanged
25 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 1,856,2911.9m $355.6m $355.6m 0.02% Reduced -3.7m -3,683,043
26 ENVESTNET ASSET MANAGEMENT INC 0.10% of their portfolio Berwyn, PA 1,774,9521.8m $340.0m $340.0m 0.10% Added +15.7k +15,654
27 Varma Mutual Pension Insurance Co 1.98% of their portfolio Varma, H9 1,708,0001.7m $327.2m $327.2m 1.98% New
28 Phoenix Financial Ltd. 3.37% of their portfolio Givatayim, L3 1,625,5421.6m $311.4m $311.4m 3.37% Reduced -1.9m -1,911,322
29 Clal Insurance Enterprises Holdings Ltd 1.98% of their portfolio Tel-aviv, L3 1,600,0001.6m $306.5m $306.5m 1.98% New
30 BARCLAYS PLC 0.12% of their portfolio LONDON, X0 1,524,0571.5m $291.9m $291.9m 0.12% Added +972.7k +972,744
31 BW Gestao de Investimentos Ltda. 10.12% of their portfolio SAO PAULO, D5 1,499,1001.5m $287.2m $287.2m 10.12% New
32 Rockefeller Capital Management L.P. 0.49% of their portfolio NEW YORK, NY 1,434,5481.4m $274.8m $274.8m 0.49% Added +108.6k +108,552
33 HighTower Advisors, LLC 0.30% of their portfolio CHICAGO, IL 1,409,6111.4m $270.0m $270.0m 0.30% Added +55.2k +55,250
34 OSAIC HOLDINGS, INC. 0.37% of their portfolio SCOTTSDALE, AZ 1,337,4351.3m $256.3m $256.3m 0.37% Reduced -128.9k -128,867
35 LBMC INVESTMENT ADVISORS, LLC 15.70% of their portfolio BRENTWOOD, TN 1,332,1331.3m $255.2m $255.2m 15.70% Reduced -4.4k -4,377
36 MOORE CAPITAL MANAGEMENT, LP 4.77% of their portfolio NEW YORK, NY 1,222,3461.2m $234.2m $234.2m 4.77% Added +1.2m +1,186,558
37 Duquesne Family Office LLC 5.33% of their portfolio New York, NY 1,173,9251.2m $224.9m $224.9m 5.33% New
38 VOYA INVESTMENT MANAGEMENT LLC 0.22% of their portfolio ATLANTA, GA 1,141,2751.1m $218.6m $218.6m 0.22% New
39 Freedom Together Foundation 26.72% of their portfolio NEW YORK, NY 1,100,0001.1m $210.7m $210.7m 26.72% Unchanged
40 STIFEL FINANCIAL CORP 0.19% of their portfolio ST. LOUIS, MO 1,094,0521.1m $209.6m $209.6m 0.19% Added +23.0k +23,042
41 COMMONWEALTH EQUITY SERVICES, LLC 0.27% of their portfolio WALTHAM, MA 1,071,4581.1m $205.2m $205.2m 0.27% Reduced -7.9k -7,917
42 Cetera Investment Advisers 0.22% of their portfolio SCHAUMBURG, IL 1,043,8651.0m $200.0m $200.0m 0.22% Reduced -21.9k -21,944
43 BROWN ADVISORY INC 0.23% of their portfolio BALTIMORE, MD 858,865858.9k $164.5m $164.5m 0.23% Reduced -37.5k -37,512
44 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 802,717802.7k $153.8m $153.8m 0.03% Reduced -327.9k -327,931
45 Trust Co of Tennessee 30.36% of their portfolio KNOXVILLE, TN 797,760797.8k $152.8m $152.8m 30.36% Added +19.0k +18,986
46 Horizon Investments, LLC 1.91% of their portfolio Charlotte, NC 786,841786.8k $150.7m $150.7m 1.91% Added +1.8k +1,843
47 Ally Financial Inc. 17.96% of their portfolio Detroit, MI 768,000768.0k $147.1m $147.1m 17.96% Unchanged
48 Caisse de depot et placement du Quebec 0.25% of their portfolio Montreal, A8 757,000757.0k $145.0m $145.0m 0.25% New
49 First Interstate Bank 7.78% of their portfolio Billings, MT 756,370756.4k $144.9m $144.9m 7.78% Added +7.9k +7,920
50 CI INVESTMENTS INC. 0.59% of their portfolio TORONTO, Z4 705,470705.5k $135.1m $135.1m 0.59% Unchanged
51 Janney Montgomery Scott LLC 0.31% of their portfolio PHILADELPHIA, PA 695,867695.9k $133.3m $133.3m 0.31% Reduced -38.3k -38,302
52 Corient Private Wealth LP 0.09% of their portfolio MIAMI, FL 689,656689.7k $130.5m $130.5m 0.09% Added +397.4k +397,372
53 Cambridge Investment Research Advisors, Inc. 0.35% of their portfolio FAIRFIELD, IA 684,869684.9k $131.2m $131.2m 0.35% Reduced -109.4k -109,403
54 Erste Asset Management GmbH 1.10% of their portfolio VIENNA, C4 683,360683.4k $130.9m $130.9m 1.10% Added +382.3k +382,300
55 Clearstead Advisors, LLC 1.65% of their portfolio CLEVELAND, OH 681,315681.3k $130.5m $130.5m 1.65% Added +75.3k +75,308
56 Summit Trail Advisors, LLC 2.22% of their portfolio NEW YORK, NY 669,322669.3k $128.2m $128.2m 2.22% Reduced -218.9k -218,917
57 MAI Capital Management 0.70% of their portfolio INDEPENDENCE, OH 633,714633.7k $121.4m $121.4m 0.70% Added +62.7k +62,712
58 Schusterman Interests, LLC 27.40% of their portfolio Tulsa, OK 625,000625.0k $119.7m $119.7m 27.40% Unchanged
59 Valeo Financial Advisors, LLC 2.56% of their portfolio CARMEL, IN 599,980600.0k $114.9m $114.9m 2.56% Reduced -20.5k -20,534
60 SCS Capital Management LLC 1.21% of their portfolio BOSTON, MA 596,705596.7k $114.3m $114.3m 1.21% Added +214.7k +214,727
61 AlphaCore Capital LLC 2.56% of their portfolio LA JOLLA, CA 593,537593.5k $113.7m $113.7m 2.56% Added +511.4k +511,351
62 Bell Bank 4.81% of their portfolio FARGO, ND 587,480587.5k $112.5m $112.5m 4.81% Added +296.9k +296,939
63 Csenge Advisory Group 5.03% of their portfolio CLEARWATER, FL 580,044580.0k $111.1m $111.1m 5.03% Added +24.3k +24,254
64 Kestra Advisory Services, LLC 0.46% of their portfolio AUSTIN, TX 578,600578.6k $110.8m $110.8m 0.46% Reduced -30.2k -30,199
65 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.15% of their portfolio PLYMOUTH, MN 567,165567.2k $111.7m $111.7m 0.15% Reduced -1.4k -1,381
66 Aptus Capital Advisors, LLC 0.92% of their portfolio FAIRHOPE, AL 565,821565.8k $108.4m $108.4m 0.92% Added +112.9k +112,948
67 US BANCORP \DE\ 0.12% of their portfolio MINNEAPOLIS, MN 554,054554.1k $106.1m $106.1m 0.12% Reduced -61.3k -61,257
68 BLAIR WILLIAM & CO/IL 0.28% of their portfolio CHICAGO, IL 549,986550.0k $105.4m $105.4m 0.28% Added +139.6k +139,587
69 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 539,716539.7k $103.8m $103.8m 0.03% Added +504.0k +504,016
70 Cercano Management LLC 3.88% of their portfolio BELLEVUE, WA 534,478534.5k $102.4m $102.4m 3.88% Reduced -89.6k -89,603
71 MKP Capital Management, L.L.C. 3.56% of their portfolio New York, NY 522,000522.0k $100.0m $100.0m 3.56% New
72 Moment Partners, LLC 20.47% of their portfolio SAN FRANCISCO, CA 519,455519.5k $99.5m $99.5m 20.47% Added +14.9k +14,854
73 Endurance Services Ltd 17.33% of their portfolio PURCHASE, NY 511,000511.0k $97.9m $97.9m 17.33% Unchanged
74 GLENMEDE TRUST CO NA 0.44% of their portfolio PHILADELPHIA, PA 490,046490.0k $93.9m $93.9m 0.44% First filing
75 MML INVESTORS SERVICES, LLC 0.23% of their portfolio SPRINGFIELD, MA 484,997485.0k $92.9m $92.9m 0.23% Added +28.0k +27,978
76 CENTRAL TRUST Co 1.81% of their portfolio JEFFERSON CITY, MO 483,298483.3k $92.6m $92.6m 1.81% Reduced -1.8k -1,816
77 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 474,334474.3k $90.9m $90.9m 0.05% Reduced -6.8k -6,783
78 Rock Creek Group LLC 10.05% of their portfolio Washington, DC 467,881467.9k $89.6m $89.6m 10.05% Reduced -183.2k -183,157
79 Vanderbilt University 15.27% of their portfolio NASHVILLE, TN 467,029467.0k $89.5m $89.5m 15.27% Added +1.8k +1,830
80 FAS Wealth Partners, Inc. 5.68% of their portfolio LEAWOOD, KS 458,668458.7k $87.9m $87.9m 5.68% Added +7.4k +7,408
81 Beacon Pointe Advisors, LLC 0.62% of their portfolio NEWPORT BEACH, CA 457,299457.3k $87.6m $87.6m 0.62% Added +292.1k +292,052
82 CIBC Private Wealth Group LLC 0.15% of their portfolio ATLANTA, GA 452,511452.5k $86.7m $86.7m 0.15% Added +75.4k +75,442
83 Waverly Advisors, LLC 0.69% of their portfolio BIRMINGHAM, AL 446,606446.6k $85.6m $85.6m 0.69% Reduced -48.4k -48,427
84 JABODON PT CO 11.05% of their portfolio RENO, NV 436,069436.1k $83.5m $83.5m 11.05% New
85 Naman Capital Ltda 23.06% of their portfolio Sao Paulo, D5 427,975428.0k $82.0m $82.0m 23.06% Reduced -63.7k -63,724
86 Mariner, LLC 0.10% of their portfolio Overland Park, KS 425,884425.9k $81.6m $81.6m 0.10% Added +14.1k +14,067
87 Private Advisor Group, LLC 0.38% of their portfolio MORRISTOWN, NJ 421,963422.0k $80.8m $80.8m 0.38% Reduced -5.2k -5,160
88 NewEdge Advisors, LLC 0.29% of their portfolio NEW ORLEANS, LA 410,857410.9k $78.7m $78.7m 0.29% Added +80.2k +80,242
89 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 396,364396.4k $75.9m $75.9m 0.01% New
90 PEAPACK GLADSTONE FINANCIAL CORP 0.93% of their portfolio BEDMINSTER, NJ 383,502383.5k $73.5m $73.5m 0.93% Added +58.9k +58,896
91 Consolidated Investment Group LLC 8.72% of their portfolio ENGLEWOOD, CO 380,395380.4k $72.9m $72.9m 8.72% Unchanged
92 FIRST MANHATTAN CO. LLC. 0.19% of their portfolio NEW YORK, NY 380,152380.2k $72.8m $72.8m 0.19% Reduced -114.8k -114,787
93 Dakota Wealth Management 1.29% of their portfolio PALM BEACH GARDENS, FL 378,130378.1k $72.4m $72.4m 1.29% Added +190 +190
94 Venture Visionary Partners LLC 2.35% of their portfolio Sylvania, OH 375,222375.2k $71.9m $71.9m 2.35% Reduced -2.4k -2,401
95 Bernicke Wealth Management, Ltd. 9.22% of their portfolio ALTOONA, WI 374,721374.7k $71.8m $71.8m 9.22% First filing
96 CHOREO, LLC 0.89% of their portfolio ROCKFORD, IL 362,087362.1k $70.0m $70.0m 0.89% Added +19.9k +19,898
97 JONES FINANCIAL COMPANIES LLLP 0.04% of their portfolio DES PERES, MO 355,271355.3k $68.1m $68.1m 0.04% Added +63.6k +63,572
98 EXENCIAL WEALTH ADVISORS, LLC 2.15% of their portfolio OKLAHOMA CITY, OK 355,002355.0k $68.0m $68.0m 2.15% Added +16.1k +16,113
99 Baltimore-Washington Financial Advisors, Inc. 2.83% of their portfolio Columbia, MD 354,814354.8k $68.0m $68.0m 2.83% Added +9.0k +9,036
100 Holt Capital Advisors, L.L.C. dba Holt Capital Partners, L.P. 9.07% of their portfolio FORT WORTH, TX 352,732352.7k $67.6m $67.6m 9.07% Added +76.0k +76,023