Vault-13

INVESCO EXCH TRADED FD TR II SPHD

S&P500 HDL VOL · ETP · CUSIP 46138E362

341 institutional holders +6 vs Q3 2025
20,881,02120.9m shares reported held*
$991.1mreported value*
23 new 116 added 107 reduced 30 sold out net sold ≈ $42.4m (-633.2k 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 ($25.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $47.47. Options: 3 managers hold calls ($2.0m notional), 2 hold puts ($643.2k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 309Q4 22: 347Q1 23: 337Q2 23: 320Q3 23: 312Q4 23: 318Q1 24: 310Q2 24: 307Q3 24: 338Q4 24: 363Q1 25: 352Q2 25: 343Q3 25: 335Q4 25: 341341Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022309
Q4 2022347
Q1 2023337
Q2 2023320
Q3 2023312
Q4 2023318
Q1 2024310
Q2 2024307
Q3 2024338
Q4 2024363
Q1 2025352
Q2 2025343
Q3 2025335
Q4 2025341

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 129 bought or addedQ1 24: 152 cut or sold outQ2 24: 114 bought or addedQ2 24: 144 cut or sold outQ2 24Q3 24: 167 bought or addedQ3 24: 118 cut or sold outQ4 24: 161 bought or addedQ4 24: 127 cut or sold outQ4 24Q1 25: 166 bought or addedQ1 25: 144 cut or sold outQ2 25: 146 bought or addedQ2 25: 148 cut or sold outQ2 25Q3 25: 147 bought or addedQ3 25: 141 cut or sold outQ4 25: 139 bought or addedQ4 25: 137 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024129152
Q2 2024114144
Q3 2024167118
Q4 2024161127
Q1 2025166144
Q2 2025146148
Q3 2025147141
Q4 2025139137

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ1 25 calls: $1.7mQ1 25 puts: $1.1mQ1 25P/C 0.64Q2 25 calls: $1.6mQ2 25 puts: $1.1mQ2 25P/C 0.71Q3 25 calls: $1.3mQ3 25 puts: $459.9kQ3 25P/C 0.34Q4 25 calls: $2.0mQ4 25 puts: $643.2kQ4 25P/C 0.31
Numbers
QuarterCallsPutsP/C
Q1 2025$1.7m$1.1m0.64
Q2 2025$1.6m$1.1m0.71
Q3 2025$1.3m$459.9k0.34
Q4 2025$2.0m$643.2k0.31

Biggest buyers

STIFEL FINANCIAL CORP Added +378,620+378.6k
TLS Advisors LLC Added +242,533+242.5k
CWM, LLC Added +231,530+231.5k
SteelPeak Wealth, LLC Added +128,786+128.8k
BANK OF AMERICA CORP /DE/ Added +110,060+110.1k
Jump Financial, LLC New +98,558+98.6k
Private Advisor Group, LLC Added +91,619+91.6k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +57,564+57.6k
World Investment Advisors New +47,271+47.3k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +41,262+41.3k

Biggest sellers

TWO SIGMA INVESTMENTS, LP Reduced -674,700-674.7k
MORGAN STANLEY Reduced -423,376-423.4k
JPMORGAN CHASE & CO Reduced -206,596-206.6k
Equitable Holdings, Inc. Reduced -167,410-167.4k
LPL Financial LLC Reduced -142,041-142.0k
ENVESTNET ASSET MANAGEMENT INC Reduced -69,837-69.8k
FRANKLIN RESOURCES INC Reduced -57,108-57.1k
LM Advisors LLC Reduced -53,863-53.9k
Waverly Advisors, LLC Reduced -52,552-52.6k
SILVER OAK SECURITIES, INCORPORATED Reduced -38,859-38.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $960.0k20.0k shares
CITADEL ADVISORS LLC Reduced $652.8k13.6k shares
JANE STREET GROUP, LLC Added $432.0k9.0k shares

Biggest puts

CITADEL ADVISORS LLC New $350.4k7.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $292.8k6.1k 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 0.01% of their portfolio NEW YORK, NY 2,186,6352.2m $105.0m $105.0m 0.01% Reduced -423.4k -423,376
2 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 2,100,3622.1m $100.8m $100.8m 0.03% Reduced -142.0k -142,041
3 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,285,4221.3m $61.7m $61.7m 0.00% Added +110.1k +110,060
4 Financial Engines Advisors L.L.C. 0.08% of their portfolio SANTA CLARA, CA 914,811914.8k $43.9m $43.9m 0.08% Reduced -13.9k -13,885
5 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 684,950685.0k $32.9m $32.9m 0.01% Reduced -22.6k -22,627
6 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 669,538669.5k $32.1m $32.1m 0.01% Reduced -28.1k -28,080
7 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 658,909658.9k $31.6m $31.6m 0.01% Reduced -57.1k -57,108
8 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 643,258643.3k $30.9m $30.9m 0.01% Added +12.6k +12,629
9 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 627,025627.0k $30.1m $30.1m 0.03% Added +378.6k +378,620
10 UBS Group AG 0.00% of their portfolio ZURICH, V8 514,196514.2k $24.7m $24.7m 0.00% Reduced -892 -892
11 Avidian Wealth Enterprises, LLC 0.81% of their portfolio Houston, TX 464,972465.0k $22.3m $22.3m 0.81% Added +17.6k +17,598
12 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 343,024343.0k $16.4m $16.4m 0.00% Added +12.8k +12,813
13 Private Advisor Group, LLC 0.07% of their portfolio MORRISTOWN, NJ 323,589323.6k $15.5m $15.5m 0.07% Added +91.6k +91,619
14 FMR LLC 0.00% of their portfolio BOSTON, MA 277,979278.0k $13.3m $13.3m 0.00% Reduced -23.4k -23,350
15 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 275,375275.4k $13.2m $13.2m 0.00% Reduced -69.8k -69,837
16 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 266,921266.9k $12.8m $12.8m 0.01% Reduced -15.7k -15,728
17 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 258,679258.7k $12.4m $12.4m 0.01% Reduced -6.1k -6,085
18 TLS Advisors LLC 1.49% of their portfolio MIAMI, FL 250,185250.2k $463.0k $463.0k 1.49% Added +242.5k +242,533
19 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 247,723247.7k $11.9m $11.9m 0.02% Reduced -28.3k -28,256
20 CWM, LLC 0.03% of their portfolio OMAHA, NE 236,566236.6k $11.4m $11.4m 0.03% Added +231.5k +231,530
21 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 210,889210.9k $10.1m $10.1m 0.01% Reduced -1.5k -1,522
22 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 209,457209.5k $10.1m $10.1m 0.01% Added +8.2k +8,219
23 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 200,258200.3k $9.6m $9.6m 0.03% Added +3.7k +3,710
24 XML Financial, LLC 0.78% of their portfolio BETHESDA, MD 200,001200.0k $9.6m $9.6m 0.78% Added +1.7k +1,689
25 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 199,494199.5k $9.6m $9.6m 0.00% Reduced -206.6k -206,596
26 Allworth Financial LP 0.04% of their portfolio FOLSOM, CA 187,937187.9k $9.0m $9.0m 0.04% Reduced -7.3k -7,347
27 Foguth Wealth Management, LLC. 1.39% of their portfolio BRIGHTON, MI 185,506185.5k $8.9m $8.9m 1.39% First filing
28 BTS Asset Management, Inc. 11.77% of their portfolio Lincoln, MA 180,649180.6k $8.7m $8.7m 11.77% Reduced -12.7k -12,656
29 Leelyn Smith, LLC 1.17% of their portfolio GENEVA, IL 168,796168.8k $8.1m $8.1m 1.17% Added +3.3k +3,316
30 Janney Montgomery Scott LLC 0.02% of their portfolio PHILADELPHIA, PA 167,532167.5k $8.0m $8.0m 0.02% Added +4.3k +4,339
31 SteelPeak Wealth, LLC 0.22% of their portfolio WOODLAND HILLS, CA 140,236140.2k $6.7m $6.7m 0.22% Added +128.8k +128,786
32 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 140,194140.2k $6.8m $6.8m 0.01% Added +57.6k +57,564
33 Equitable Holdings, Inc. 0.05% of their portfolio NEW YORK, NY 139,432139.4k $6.7m $6.7m 0.05% Reduced -167.4k -167,410
34 Sanctuary Advisors, LLC 0.04% of their portfolio INDIANAPOLIS, IN 137,932137.9k $6.6m $6.6m 0.04% Reduced -37.5k -37,545
35 Northside Capital Management, LLC 0.55% of their portfolio Hood River, OR 132,885132.9k $6.4m $6.4m 0.55% Unchanged
36 Fusion Capital, LLC 1.72% of their portfolio MT. PLEASANT, SC 127,547127.5k $6.1m $6.1m 1.72% Added +2.5k +2,502
37 Fortis Group Advisors, LLC 1.07% of their portfolio WESTWOOD, NJ 126,337126.3k $6.4m $6.4m 1.07% Added +2.6k +2,622
38 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 120,825120.8k $5.8m $5.8m 0.02% Added +1.4k +1,382
39 Brookstone Capital Management 0.07% of their portfolio WHEATON, IL 118,924118.9k $5.7m $5.7m 0.07% Reduced -21.4k -21,372
40 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 116,612116.6k $5.6m $5.6m 0.01% Reduced -11.7k -11,709
41 Jump Financial, LLC 0.06% of their portfolio Chicago, IL 98,55898.6k $4.7m $4.7m 0.06% New
42 Prostatis Group LLC 1.09% of their portfolio HANOVER, MD 95,52595.5k $4.6m $4.6m 1.09% Added +1.3k +1,275
43 CreativeOne Wealth, LLC 0.11% of their portfolio OVERLAND PARK, KS 91,05491.1k $4.4m $4.4m 0.11% Reduced -2.5k -2,513
44 OPPENHEIMER & CO INC 0.06% of their portfolio NEW YORK, NY 89,60389.6k $4.3m $4.3m 0.06% Reduced -4.8k -4,810
45 Clal Insurance Enterprises Holdings Ltd 0.03% of their portfolio Tel-aviv, L3 85,40085.4k $4.1m $4.1m 0.03% Unchanged
46 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 83,19783.2k $4.0m $4.0m 0.00% Reduced -1.2k -1,211
47 Venture Visionary Partners LLC 0.12% of their portfolio Sylvania, OH 79,38579.4k $3.8m $3.8m 0.12% Reduced -11 -11
48 Capital Investment Advisory Services, LLC 0.26% of their portfolio RALEIGH, NC 75,66875.7k $3.6m $3.6m 0.26% Added +1.0k +1,004
49 LMCG INVESTMENTS, LLC 0.21% of their portfolio BOSTON, MA 75,62875.6k $3.6m $3.6m 0.21% Reduced -3.9k -3,932
50 Delos Wealth Advisors, LLC 2.37% of their portfolio DALLAS, TX 74,63574.6k $3.6m $3.6m 2.37% Added +2.2k +2,210
51 Arete Wealth Advisors, LLC 0.24% of their portfolio CHICAGO, IL 73,20573.2k $3.5m $3.5m 0.24% Added +2.2k +2,174
52 Fortune Financial Group, Inc. 3.21% of their portfolio NAPLES, FL 68,03768.0k $3.3m $3.3m 3.21% First filing
53 Geneos Wealth Management Inc. 0.08% of their portfolio ENGLEWOOD, CO 64,75364.8k $3.1m $3.1m 0.08% Reduced -27.9k -27,858
54 COOKSON PEIRCE & CO INC 0.13% of their portfolio PITTSBURGH, PA 64,35164.4k $3.1m $3.1m 0.13% Added +4.1k +4,106
55 AXXCESS WEALTH MANAGEMENT, LLC 0.05% of their portfolio CARLSBAD, CA 60,34360.3k $2.9m $2.9m 0.05% Added +29.8k +29,765
56 David Kennon Inc 1.00% of their portfolio SARASOTA, FL 58,34458.3k $2.8m $2.8m 1.00% Reduced -1.7k -1,720
57 Pinnacle Wealth Management Group, Inc. 1.39% of their portfolio PLYMOUTH, MI 57,89057.9k $2.8m $2.8m 1.39% Added +262 +262
58 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 57,57057.6k $2.8m $2.8m 0.01% Reduced -5.4k -5,374
59 Mariner, LLC 0.00% of their portfolio Overland Park, KS 54,81654.8k $2.6m $2.6m 0.00% Added +25 +25
60 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 54,26654.3k $2.6m $2.6m 0.01% Reduced -1.4k -1,450
61 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 53,24153.2k $2.6m $2.6m 0.00% Added +1.2k +1,161
62 Stonebridge Wealth Management, LLC 2.28% of their portfolio OAK BROOK, IL 50,32750.3k $2.4m $2.4m 2.28% Reduced -13.9k -13,897
63 WJ Financial Advisors LLC 2.12% of their portfolio KILLINGWORTH, CT 49,54349.5k $2.4m $2.4m 2.12% Added +8.5k +8,499
64 Advocate Investing Services LLC 2.06% of their portfolio WOODBINE, MD 48,02748.0k $2.3m $2.3m 2.06% First filing
65 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 47,83647.8k $2.3m $2.3m 0.00% Added +41.3k +41,262
66 World Investment Advisors 0.04% of their portfolio LINCROFT, NJ 47,27147.3k $2.3m $2.3m 0.04% New
67 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 45,40445.4k $2.2m $2.2m 0.01% Added +12.9k +12,915
68 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 45,23245.2k $2.2m $2.2m 0.00% Added +39.7k +39,731
69 Lynx Investment Advisory 1.16% of their portfolio WASHINGTON, DC, DC 44,43044.4k $2.1m $2.1m 1.16% Reduced -3.7k -3,748
70 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 43,82743.8k $2.1m $2.1m 0.00% Added +106 +106
71 Curran Financial Partners, LLC 0.40% of their portfolio DANIEL ISLAND, SC 43,72443.7k $2.1m $2.1m 0.40% Added +6.1k +6,089
72 Washington Trust Bank 0.15% of their portfolio Spokane, WA 43,67743.7k $2.1m $2.1m 0.15% Reduced -1.2k -1,196
73 Tyche Wealth Partners LLC 0.32% of their portfolio PLANO, TX 41,84041.8k $2.0m $2.0m 0.32% Reduced -143 -143
74 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 41,45741.5k $2.0m $2.0m 0.00% Added +30.2k +30,175
75 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 38,96339.0k $1.9m $1.9m 0.00% Unchanged
76 Focus Partners Advisor Solutions, LLC 0.02% of their portfolio SAINT LOUIS, MO 38,02438.0k $1.8m $1.8m 0.02% Reduced -31.1k -31,072
77 MERITAGE PORTFOLIO MANAGEMENT 0.12% of their portfolio OVERLAND PARK, KS 37,81037.8k $1.8m $1.8m 0.12% Added +2.3k +2,346
78 VIAWEALTH, LLC 1.00% of their portfolio Leawood, KS 37,03937.0k $1.8m $1.8m 1.00% Added +11.4k +11,410
79 Winter & Associates, Inc. 1.58% of their portfolio ST. PAUL, MN 35,62935.6k $1.7m $1.7m 1.58% First filing
80 GREENBERG FINANCIAL GROUP 0.70% of their portfolio TUCSON, AZ 35,46835.5k $1.7m $1.7m 0.70% First filing
81 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 35,42135.4k $1.7m $1.7m 0.01% Reduced -52.6k -52,552
82 Park Edge Advisors, LLC 0.37% of their portfolio Cleveland, OH 34,31834.3k $1.6m $1.6m 0.37% Added +2.4k +2,409
83 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 32,92232.9k $1.6m $1.6m 0.00% Reduced -190 -190
84 MassMutual Private Wealth & Trust, FSB 0.04% of their portfolio Windsor, CT 32,17132.2k $1.5m $1.5m 0.04% Reduced -3.8k -3,792
85 Arkadios Wealth Advisors 0.03% of their portfolio ATLANTA, GA 31,55231.6k $1.5m $1.5m 0.03% Added +1.7k +1,717
86 Colonial River Investments, LLC 0.53% of their portfolio MIDLOTHIAN, VA 30,90130.9k $1.5m $1.5m 0.53% Added +201 +201
87 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 30,14130.1k $1.4m $1.4m 0.02% Reduced -2.1k -2,119
88 J.W. COLE ADVISORS, INC. 0.03% of their portfolio TAMPA, FL 29,95130.0k $1.4m $1.4m 0.03% Reduced -104 -104
89 Atlas Legacy Advisors, LLC 0.25% of their portfolio LOS ANGELES, CA 29,69929.7k $1.4m $1.4m 0.25% Reduced -474 -474
90 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 28,06728.1k $1.3m $1.3m 0.00% Added +1.6k +1,624
91 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 27,83527.8k $1.3m $1.3m 0.00% Added +395 +395
92 Crescent Grove Advisors, LLC 0.13% of their portfolio LAKE FOREST, IL 27,51727.5k $1.3m $1.3m 0.13% Added +1.8k +1,814
93 Brookwood Investment Group LLC 0.16% of their portfolio PHOENIX, AZ 27,18727.2k $1.3m $1.3m 0.16% Reduced -805 -805
94 RDA Financial Network 0.31% of their portfolio AKRON, IA 26,87226.9k $1.3m $1.3m 0.31% Added +150 +150
95 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 26,30726.3k $1.3m $1.3m 0.01% Added +603 +603
96 PRIVATE TRUST CO NA 0.11% of their portfolio CLEVELAND, OH 25,92725.9k $1.2m $1.2m 0.11% Reduced -8.7k -8,744
97 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 25,83125.8k $1.2m $1.2m 0.00% Reduced -927 -927
98 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 25,70025.7k $1.2m $1.2m 0.00% Added +5.0k +5,000
99 Perigon Wealth Management, LLC 0.02% of their portfolio SAN FRANCISCO, CA 25,10325.1k $1.2m $1.2m 0.02% Reduced -437 -437
100 Summit Financial Wealth Advisors, LLC 0.17% of their portfolio Lafayette, LA 24,58224.6k $1.2m $1.2m 0.17% Added +3 +3