Vault-13

INVESCO EXCH TRADED FD TR II PZA

NATL AMT MUNI · ETP · CUSIP 46138E537

298 institutional holders +28 vs Q4 2025
146,317,022146.3m shares reported held*
$3.4bnreported value*
52 new 140 added 70 reduced 18 sold out net bought ≈ $1.1bn (+49.4m 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 ($108.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $23.00. Options: 3 managers hold calls ($9.3m notional), 2 hold puts ($831.9k).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 182Q4 22: 178Q1 23: 172Q2 23: 182Q3 23: 190Q4 23: 205Q1 24: 199Q2 24: 213Q3 24: 219Q4 24: 231Q1 25: 217Q2 25: 228Q3 25: 253Q4 25: 270Q1 26: 298298Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022182
Q4 2022178
Q1 2023172
Q2 2023182
Q3 2023190
Q4 2023205
Q1 2024199
Q2 2024213
Q3 2024219
Q4 2024231
Q1 2025217
Q2 2025228
Q3 2025253
Q4 2025270
Q1 2026298

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 106 bought or addedQ2 24: 77 cut or sold outQ3 24: 107 bought or addedQ3 24: 93 cut or sold outQ3 24Q4 24: 114 bought or addedQ4 24: 101 cut or sold outQ1 25: 105 bought or addedQ1 25: 113 cut or sold outQ1 25Q2 25: 106 bought or addedQ2 25: 108 cut or sold outQ3 25: 142 bought or addedQ3 25: 101 cut or sold outQ3 25Q4 25: 128 bought or addedQ4 25: 110 cut or sold outQ1 26: 192 bought or addedQ1 26: 88 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 202410677
Q3 202410793
Q4 2024114101
Q1 2025105113
Q2 2025106108
Q3 2025142101
Q4 2025128110
Q1 202619288

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ2 25 calls: $293.3kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $16.3mQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $960.1kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $9.3mQ1 26 puts: $831.9kQ1 26P/C 0.09
Numbers
QuarterCallsPutsP/C
Q2 2025$293.3k$00.00
Q3 2025$16.3m$00.00
Q4 2025$960.1k$00.00
Q1 2026$9.3m$831.9k0.09

Biggest buyers

UBS Group AG Added +19,637,061+19.6m
AMERIPRISE FINANCIAL INC Added +6,434,313+6.4m
Richard Bernstein Advisors LLC Added +6,061,835+6.1m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Added +3,048,038+3.0m
BANK OF AMERICA CORP /DE/ Added +2,967,775+3.0m
ENVESTNET ASSET MANAGEMENT INC Added +2,279,392+2.3m
JPMORGAN CHASE & CO Added +1,840,698+1.8m
SOFI WEALTH, LLC Added +1,502,814+1.5m
COMMONWEALTH EQUITY SERVICES, LLC Added +628,025+628.0k
NewEdge Advisors, LLC Added +576,292+576.3k

Biggest sellers

JANE STREET GROUP, LLC Reduced -1,804,482-1.8m
Composition Wealth, LLC Reduced -703,699-703.7k
CITADEL ADVISORS LLC Reduced -584,754-584.8k
Stratos Wealth Partners, LTD. Reduced -467,168-467.2k
RENAISSANCE TECHNOLOGIES LLC Reduced -224,600-224.6k
OLD MISSION CAPITAL LLC Sold out -140,794-140.8k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -116,655-116.7k
Petix & Botte Co Reduced -88,029-88.0k
FLOW TRADERS U.S. LLC Sold out -80,624-80.6k
Goodman Advisory Group, LLC Reduced -77,187-77.2k

Biggest calls

ROBINSON CAPITAL MANAGEMENT, LLC New $8.0m344.4k shares
CITADEL ADVISORS LLC New $779.0k33.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $507.9k22.1k shares

Biggest puts

CITADEL ADVISORS LLC New $489.5k21.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $342.4k14.9k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.09% of their portfolio CHARLOTTE, NC 55,154,07155.2m $1.3bn $1.3bn 0.09% Added +3.0m +2,967,775
2 UBS Group AG 0.09% of their portfolio ZURICH, V8 21,527,44821.5m $494.7m $494.7m 0.09% Added +19.6m +19,637,061
3 Richard Bernstein Advisors LLC 6.07% of their portfolio NEW YORK, NY 9,102,4979.1m $209.2m $209.2m 6.07% Added +6.1m +6,061,835
4 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 7,251,9447.3m $166.7m $166.7m 0.04% Added +6.4m +6,434,313
5 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 4,844,5274.8m $111.3m $111.3m 0.03% Added +2.3m +2,279,392
6 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 1.47% of their portfolio MINNEAPOLIS, MN 4,364,6294.4m $100.3m $100.3m 1.47% Added +43.0k +43,003
7 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio NEW YORK, NY 4,124,6284.1m $94.8m $94.8m 0.02% Added +3.0m +3,048,038
8 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 3,179,4793.2m $73.1m $73.1m 0.02% Added +561.5k +561,462
9 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 2,741,4152.7m $63.0m $63.0m 0.01% Added +275.5k +275,544
10 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,553,0922.6m $58.4m $58.4m 0.00% Added +1.8m +1,840,698
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,133,8832.1m $49.0m $49.0m 0.00% Added +234.1k +234,063
12 SOFI WEALTH, LLC 2.20% of their portfolio SAN FRANCISCO, CA 1,983,2862.0m $45.6m $45.6m 2.20% Added +1.5m +1,502,814
13 EP Wealth Advisors, LLC 0.20% of their portfolio TORRANCE, CA 1,807,6071.8m $41.5m $41.5m 0.20% Added +205.5k +205,481
14 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.02% of their portfolio MILWAUKEE, WI 1,760,7061.8m $40.5m $40.5m 0.02% Reduced -116.7k -116,655
15 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,569,1611.6m $36.1m $36.1m 0.01% Added +175.4k +175,438
16 Cetera Investment Advisers 0.03% of their portfolio SCHAUMBURG, IL 1,176,6521.2m $27.0m $27.0m 0.03% Added +472.2k +472,183
17 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 1,034,7691.0m $23.8m $23.8m 0.02% Added +149.8k +149,813
18 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 1,021,1471.0m $23.5m $23.5m 0.03% Added +628.0k +628,025
19 Gerber Kawasaki Wealth & Investment Management 0.54% of their portfolio SANTA MONICA, CA 734,645734.6k $16.9m $16.9m 0.54% Added +55.3k +55,332
20 Sanctuary Advisors, LLC 0.09% of their portfolio INDIANAPOLIS, IN 733,015733.0k $16.8m $16.8m 0.09% Added +226.0k +226,011
21 Composition Wealth, LLC 0.22% of their portfolio LOS ANGELES, CA 690,679690.7k $15.9m $15.9m 0.22% Reduced -703.7k -703,699
22 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 669,572669.6k $15.4m $15.4m 0.00% Added +64.9k +64,901
23 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 642,827642.8k $14.8m $14.8m 0.02% Reduced -1.8m -1,804,482
24 NewEdge Advisors, LLC 0.05% of their portfolio NEW ORLEANS, LA 624,324624.3k $14.3m $14.3m 0.05% Added +576.3k +576,292
25 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 540,260540.3k $12.4m $12.4m 0.00% Added +220.9k +220,926
26 ASSETMARK, INC 0.03% of their portfolio CONCORD, CA 539,991540.0k $12.4m $12.4m 0.03% Added +183.5k +183,528
27 Allworth Financial LP 0.05% of their portfolio FOLSOM, CA 531,585531.6k $12.2m $12.2m 0.05% Added +38.7k +38,677
28 Avidian Wealth Enterprises, LLC 0.35% of their portfolio Houston, TX 484,955485.0k $11.1m $11.1m 0.35% Reduced -1.8k -1,779
29 West Wealth Group, LLC 2.01% of their portfolio Irvine, CA 442,800442.8k $10.2m $10.2m 2.01% Added +358.3k +358,348
30 IHT Wealth Management, LLC 0.23% of their portfolio Chicago, IL 427,373427.4k $9.8m $9.8m 0.23% Added +24.5k +24,465
31 Shepherd Financial Partners LLC 0.93% of their portfolio WINCHESTER, MA 424,429424.4k $9.8m $9.8m 0.93% Added +222.1k +222,149
32 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 410,317410.3k $9.4m $9.4m 0.01% Reduced -62.4k -62,407
33 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 389,799389.8k $9.0m $9.0m 0.00% New
34 Ascent Group, LLC 0.31% of their portfolio VIRGINIA BEACH, VA 383,878383.9k $8.8m $8.8m 0.31% Added +294.5k +294,518
35 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 376,367376.4k $8.6m $8.6m 0.00% Added +4.8k +4,755
36 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 374,930374.9k $8.6m $8.6m 0.02% Added +362.5k +362,509
37 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 374,223374.2k $8.6m $8.6m 0.02% Added +81.7k +81,695
38 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 367,891367.9k $8.5m $8.5m 0.01% Reduced -9.8k -9,782
39 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 300,137300.1k $6.9m $6.9m 0.01% Reduced -40.9k -40,915
40 FIFTH THIRD BANCORP 0.01% of their portfolio CINCINNATI, OH 291,614291.6k $6.7m $6.7m 0.01% New
41 Independent Advisor Alliance 0.07% of their portfolio CHARLOTTE, NC 270,862270.9k $6.2m $6.2m 0.07% New
42 Tortoise Investment Management, LLC 0.51% of their portfolio WHITE PLAINS, NY 267,836267.8k $6.2m $6.2m 0.51% Added +9.3k +9,279
43 Integrated Wealth Concepts LLC 0.05% of their portfolio WALTHAM, MA 260,744260.7k $6.0m $6.0m 0.05% Added +39.2k +39,172
44 Vestmark Advisory Solutions, Inc. 0.07% of their portfolio Wakefield, MA 260,553260.6k $6.0m $6.0m 0.07% Added +173.1k +173,127
45 EXENCIAL WEALTH ADVISORS, LLC 0.19% of their portfolio OKLAHOMA CITY, OK 260,389260.4k $6.0m $6.0m 0.19% Added +237.4k +237,409
46 Archer Investment Management, LLC 2.51% of their portfolio AUSTIN, TX 259,293259.3k $6.0m $6.0m 2.51% New
47 SIMON QUICK ADVISORS, LLC 0.27% of their portfolio MORRISTOWN, NJ 257,730257.7k $5.9m $5.9m 0.27% Added +183.1k +183,113
48 PARK AVENUE SECURITIES LLC 0.05% of their portfolio NEW YORK, NY 257,385257.4k $5.9m $5.9m 0.05% Added +169.9k +169,923
49 Perigon Wealth Management, LLC 0.11% of their portfolio SAN FRANCISCO, CA 251,804251.8k $5.8m $5.8m 0.11% New
50 Goodman Advisory Group, LLC 1.46% of their portfolio NEEDHAM, MA 244,404244.4k $5.6m $5.6m 1.46% Reduced -77.2k -77,187
51 Stewardship Advisors, LLC 1.27% of their portfolio MOUNT JOY, PA 240,734240.7k $5.5m $5.5m 1.27% Reduced -6.3k -6,330
52 SEEDS INVESTOR LLC 0.75% of their portfolio NEW YORK, NY 237,249237.2k $5.5m $5.5m 0.75% Added +83.7k +83,714
53 ANDERSON HOAGLAND & CO 0.45% of their portfolio ST LOUIS, MO 228,404228.4k $5.2m $5.2m 0.45% Reduced -15.7k -15,721
54 AE Wealth Management LLC 0.03% of their portfolio TOPEKA, KS 226,749226.7k $5.2m $5.2m 0.03% Added +99.0k +99,021
55 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 222,882222.9k $5.1m $5.1m 0.02% Added +57.4k +57,431
56 TRAPHAGEN INVESTMENT ADVISORS LLC 0.41% of their portfolio ORADELL, NJ 218,296218.3k $5.0m $5.0m 0.41% Added +1.8k +1,821
57 TRUSTMARK BANK TRUST DEPARTMENT 0.32% of their portfolio JACKSON, MS 213,905213.9k $4.9m $4.9m 0.32% Reduced -18.7k -18,720
58 CONFLUENCE INVESTMENT MANAGEMENT LLC 0.07% of their portfolio ST. LOUIS, MO 208,781208.8k $4.8m $4.8m 0.07% Reduced -4.6k -4,623
59 1900 WEALTH MANAGEMENT LLC 0.30% of their portfolio SAN ANTONIO, TX 202,688202.7k $4.7m $4.7m 0.30% Added +12.6k +12,551
60 MONETA GROUP INVESTMENT ADVISORS LLC 0.03% of their portfolio ST LOUIS, MO 195,804195.8k $4.5m $4.5m 0.03% Added +8.5k +8,505
61 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 186,479186.5k $4.3m $4.3m 0.01% Reduced -34.2k -34,215
62 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 180,967181.0k $4.2m $4.2m 0.01% Added +24.2k +24,189
63 Quadrant Private Wealth Management, LLC 0.64% of their portfolio Center Valley, PA 179,307179.3k $4.1m $4.1m 0.64% Added +119.5k +119,534
64 ELEVATION POINT WEALTH PARTNERS, LLC 0.10% of their portfolio DENVER, CO 178,527178.5k $4.1m $4.1m 0.10% Added +121.2k +121,187
65 ASHTON THOMAS SECURITIES, LLC 0.50% of their portfolio ROCHESTER, NY 171,946171.9k $4.0m $4.0m 0.50% Added +64.9k +64,937
66 ENTRUST FINANCIAL LLC 2.72% of their portfolio WAYNE, PA 169,396169.4k $3.9m $3.9m 2.72% Added +24.0k +23,980
67 Connecticut Capital Management Group, LLC 3.65% of their portfolio MILFORD, CT 167,981168.0k $3.9m $3.9m 3.65% Added +15.1k +15,131
68 Concurrent Investment Advisors, LLC 0.04% of their portfolio Tampa, FL 165,328165.3k $3.8m $3.8m 0.04% Added +67.5k +67,535
69 MGO ONE SEVEN LLC 0.07% of their portfolio Beachwood, OH 160,250160.2k $3.7m $3.7m 0.07% New
70 McAdam, LLC 0.16% of their portfolio Philadelphia, PA 157,104157.1k $3.6m $3.6m 0.16% Reduced -9.6k -9,574
71 Clark Capital Management Group, Inc. 0.02% of their portfolio PHILADELPHIA, PA 153,189153.2k $3.5m $3.5m 0.02% Added +92.2k +92,205
72 Perennial Investment Advisors, LLC 0.28% of their portfolio Los Angeles, CA 152,120152.1k $3.5m $3.5m 0.28% Added +97.1k +97,105
73 TD PRIVATE CLIENT WEALTH LLC 0.07% of their portfolio NEW YORK, NY 149,126149.1k $3.4m $3.4m 0.07% Reduced -8.8k -8,833
74 Synergy Investment Management, LLC 1.09% of their portfolio ALTAMONTE SPRINGS, FL 144,430144.4k $3.3m $3.3m 1.09% Added +85.6k +85,609
75 Stratos Wealth Partners, LTD. 0.04% of their portfolio BEACHWOOD, OH 140,719140.7k $3.2m $3.2m 0.04% Reduced -467.2k -467,168
76 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 135,240135.2k $3.1m $3.1m 0.00% Added +6.5k +6,541
77 Keystone Financial Group 0.20% of their portfolio LEXINGTON, KY 126,574126.6k $2.9m $2.9m 0.20% Added +100.1k +100,138
78 PRINCIPAL SECURITIES, INC. 0.04% of their portfolio DES MOINES, IA 121,287121.3k $2.8m $2.8m 0.04% Added +34.0k +33,991
79 CHOREO, LLC 0.03% of their portfolio ROCKFORD, IL 118,542118.5k $2.7m $2.7m 0.03% Added +69.1k +69,071
80 Meadowbrook Advisors Group, LLC 1.61% of their portfolio BEDMINSTER, NJ 117,594117.6k $2.7m $2.7m 1.61% Reduced -1.1k -1,062
81 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 107,210107.2k $2.5m $2.5m 0.01% Added +62.0k +62,036
82 ShoreHaven Wealth Partners, LLC 0.85% of their portfolio Red Bank, NJ 103,323103.3k $2.4m $2.4m 0.85% Added +68.0k +68,003
83 Rochester Wealth Strategies, LLC 1.41% of their portfolio ROCHESTER, MI 101,282101.3k $2.3m $2.3m 1.41% Added +7.4k +7,379
84 Leeward Financial Partners, LLC 0.65% of their portfolio Bellevue, WA 95,69095.7k $2.2m $2.2m 0.65% Added +1.9k +1,923
85 Advisory Services Network, LLC 0.03% of their portfolio ATLANTA, GA 95,28695.3k $2.2m $2.2m 0.03% Added +16.5k +16,549
86 Petix & Botte Co 0.48% of their portfolio LA MESA, CA 94,23994.2k $2.2m $2.2m 0.48% New
87 Petix & Botte Co 0.48% of their portfolio LA MESA, CA 94,23994.2k $2.2m $2.2m 0.48% Reduced -88.0k -88,029
88 SteelPeak Wealth, LLC 0.07% of their portfolio WOODLAND HILLS, CA 93,85593.9k $2.2m $2.2m 0.07% Reduced -1.4k -1,390
89 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 93,29693.3k $2.1m $2.1m 0.00% Added +27.2k +27,193
90 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 93,21693.2k $2.1m $2.1m 0.01% Added +30.8k +30,809
91 Atria Investments, Inc 0.02% of their portfolio Charlotte, NC 90,54890.5k $2.1m $2.1m 0.02% Added +51.6k +51,631
92 FIRST FOUNDATION ADVISORS 0.08% of their portfolio Irvine, CA 87,88687.9k $2.0m $2.0m 0.08% Reduced -609 -609
93 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 85,79785.8k $2.0m $2.0m 0.01% Added +5.2k +5,215
94 First Heartland Consultants, Inc. 0.14% of their portfolio LAKE ST. LOUIS, MO 81,55381.6k $1.9m $1.9m 0.14% Reduced -4.3k -4,339
95 Per Stirling Capital Management, LLC. 0.20% of their portfolio AUSTIN, TX 78,88678.9k $1.8m $1.8m 0.20% Added +6.6k +6,557
96 Collaborative Wealth Managment Inc. 0.82% of their portfolio LAKE MARY, FL 77,25377.3k $1.8m $1.8m 0.82% Reduced -12.5k -12,494
97 Grantham, Mayo, Van Otterloo & Co. LLC 0.00% of their portfolio Boston, MA 74,86774.9k $1.7m $1.7m 0.00% Added +13.1k +13,071
98 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 73,64773.6k $1.7m $1.7m 0.00% Reduced -584.8k -584,754
99 A4 Wealth Advisors LLC 1.40% of their portfolio HUNTERSVILLE, NC 73,39373.4k $1.7m $1.7m 1.40% Added +59.5k +59,534
100 SSA SWISS ADVISORS AG 0.77% of their portfolio ZURICH, V8 71,78171.8k $1.6m $1.6m 0.77% Added +5.0k +5,011