Vault-13

INVESCO EXCH TRADED FD TR II KBWB

KBW BK ETF · ETP · CUSIP 46138E628

303 institutional holders -7 vs Q4 2025
48,342,19148.3m shares reported held*
$3.8bnreported value*
50 new 101 added 100 reduced 55 sold out net sold ≈ $475.7m (-6.0m 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 ($4.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $78.69. Options: 6 managers hold calls ($88.4m notional), 8 hold puts ($91.1m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 139Q4 22: 160Q1 23: 157Q2 23: 148Q3 23: 142Q4 23: 159Q1 24: 150Q2 24: 157Q3 24: 166Q4 24: 204Q1 25: 232Q2 25: 233Q3 25: 260Q4 25: 310Q1 26: 303303Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022139
Q4 2022160
Q1 2023157
Q2 2023148
Q3 2023142
Q4 2023159
Q1 2024150
Q2 2024157
Q3 2024166
Q4 2024204
Q1 2025232
Q2 2025233
Q3 2025260
Q4 2025310
Q1 2026303

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 60 bought or addedQ2 24: 70 cut or sold outQ3 24: 73 bought or addedQ3 24: 75 cut or sold outQ3 24Q4 24: 111 bought or addedQ4 24: 65 cut or sold outQ1 25: 130 bought or addedQ1 25: 82 cut or sold outQ1 25Q2 25: 110 bought or addedQ2 25: 112 cut or sold outQ3 25: 135 bought or addedQ3 25: 96 cut or sold outQ3 25Q4 25: 169 bought or addedQ4 25: 108 cut or sold outQ1 26: 151 bought or addedQ1 26: 155 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20246070
Q3 20247375
Q4 202411165
Q1 202513082
Q2 2025110112
Q3 202513596
Q4 2025169108
Q1 2026151155

Calls vs puts

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

CallsPuts
$0$25m$50m$75m$100mQ2 25 calls: $95.5mQ2 25 puts: $10.4mQ2 25P/C 0.11Q3 25 calls: $39.8mQ3 25 puts: $26.4mQ3 25P/C 0.66Q4 25 calls: $94.5mQ4 25 puts: $28.2mQ4 25P/C 0.30Q1 26 calls: $88.4mQ1 26 puts: $91.1mQ1 26P/C 1.03
Numbers
QuarterCallsPutsP/C
Q2 2025$95.5m$10.4m0.11
Q3 2025$39.8m$26.4m0.66
Q4 2025$94.5m$28.2m0.30
Q1 2026$88.4m$91.1m1.03

Biggest buyers

TWO SIGMA INVESTMENTS, LP New +1,080,548+1.1m
TIFF ADVISORY SERVICES, LLC New +522,543+522.5k
MORGAN STANLEY Added +491,907+491.9k
Annex Advisory Services, LLC New +389,057+389.1k
Cornerstone Advisors, LLC Added +304,600+304.6k
Fisher Asset Management, LLC Added +296,580+296.6k
Cerity Partners LLC Added +243,996+244.0k
UBS Group AG Added +187,701+187.7k
Ensign Peak Advisors, Inc Added +187,482+187.5k
WELLS FARGO & COMPANY/MN Added +178,911+178.9k

Biggest sellers

MENORA MIVTACHIM HOLDINGS LTD. Reduced -3,526,900-3.5m
BANK OF AMERICA CORP /DE/ Reduced -940,291-940.3k
JPMORGAN CHASE & CO Reduced -905,009-905.0k
Temasek Holdings (Private) Ltd Reduced -884,139-884.1k
BNP PARIBAS FINANCIAL MARKETS Reduced -852,919-852.9k
Clal Insurance Enterprises Holdings Ltd Reduced -841,000-841.0k
ROYAL BANK OF CANADA Reduced -456,873-456.9k
SOL Capital Management CO Sold out -244,343-244.3k
Fiduciary Trust Co Reduced -153,013-153.0k
Polymer Capital Management (HK) LTD Sold out -153,000-153.0k

Biggest calls

BOOTHBAY FUND MANAGEMENT, LLC New $44.9m568.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $15.6m196.8k shares
Point72 Asset Management, L.P. Added $8.7m110.3k shares
CITADEL ADVISORS LLC Added $8.5m107.6k shares
JANE STREET GROUP, LLC Reduced $6.3m79.9k shares
UBS Group AG New $4.4m55.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $21.0m265.8k shares
JANE STREET GROUP, LLC Added $15.8m199.1k shares
Balyasny Asset Management L.P. New $13.8m175.0k shares
BOOTHBAY FUND MANAGEMENT, LLC New $13.0m164.9k shares
CITADEL ADVISORS LLC Added $9.7m122.8k shares
Point72 Asset Management, L.P. Added $7.9m99.8k shares
Interval Partners, LP New $5.9m74.0k shares
CREDIT INDUSTRIEL ET COMMERCIAL New $4.0m50.0k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.07% of their portfolio CHARLOTTE, NC 11,394,67811.4m $901.5m $901.5m 0.07% Reduced -940.3k -940,291
2 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 8,260,9958.3m $631.1m $631.1m 0.04% Reduced -905.0k -905,009
3 Fisher Asset Management, LLC 0.10% of their portfolio PLANO, TX 3,864,7943.9m $305.8m $305.8m 0.10% Added +296.6k +296,580
4 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 2,917,5902.9m $230.8m $230.8m 0.03% Added +80.1k +80,143
5 Migdal Insurance & Financial Holdings Ltd. 1.49% of their portfolio Petach Tikva, L3 2,163,7502.2m $171.2m $171.2m 1.49% Unchanged
6 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,948,5531.9m $154.2m $154.2m 0.01% Added +491.9k +491,907
7 Wharton Business Group, LLC 5.46% of their portfolio MALVERN, PA 1,827,7111.8m $144.6m $144.6m 5.46% Added +2.2k +2,248
8 Clal Insurance Enterprises Holdings Ltd 0.68% of their portfolio Tel-aviv, L3 1,421,0001.4m $112.4m $112.4m 0.68% Reduced -841.0k -841,000
9 Temasek Holdings (Private) Ltd 0.29% of their portfolio SINGAPORE, U0 1,104,8621.1m $87.4m $87.4m 0.29% Reduced -884.1k -884,139
10 TWO SIGMA INVESTMENTS, LP 0.07% of their portfolio NEW YORK, NY 1,080,5481.1m $85.5m $85.5m 0.07% New
11 OSAIC HOLDINGS, INC. 0.09% of their portfolio SCOTTSDALE, AZ 738,256738.3k $58.4m $58.4m 0.09% Added +15.4k +15,416
12 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 676,010676.0k $53.5m $53.5m 0.01% Added +178.9k +178,911
13 Cornerstone Advisors, LLC 1.94% of their portfolio ASHEVILLE, NC 665,269665.3k $52.6m $52.6m 1.94% Added +304.6k +304,600
14 EDMOND DE ROTHSCHILD HOLDING S.A. 0.72% of their portfolio CHAMBESY, V8 627,935627.9k $49.7m $49.7m 0.72% Added +4.8k +4,849
15 Summit Trail Advisors, LLC 0.60% of their portfolio NEW YORK, NY 530,879530.9k $42.0m $42.0m 0.60% Reduced -7.3k -7,333
16 TIFF ADVISORY SERVICES, LLC 9.32% of their portfolio RADNOR, PA 522,543522.5k $41.3m $41.3m 9.32% New
17 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 500,805500.8k $39.6m $39.6m 0.01% Reduced -64.2k -64,249
18 UBS Group AG 0.01% of their portfolio ZURICH, V8 492,398492.4k $39.0m $39.0m 0.01% Added +187.7k +187,701
19 Fiduciary Trust Co 0.45% of their portfolio Boston, MA 481,559481.6k $38.1m $38.1m 0.45% Reduced -153.0k -153,013
20 FIL Ltd 0.03% of their portfolio HAMILTON, D0 440,559440.6k $34.9m $34.9m 0.03% Reduced -16.0k -16,018
21 Horizon Investments, LLC 0.36% of their portfolio Charlotte, NC 405,129405.1k $32.1m $32.1m 0.36% Added +7.9k +7,913
22 Annex Advisory Services, LLC 0.58% of their portfolio BROOKFIELD, WI 389,057389.1k $30.8m $30.8m 0.58% New
23 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 306,846306.8k $24.3m $24.3m 0.03% Added +92.7k +92,652
24 Cerity Partners LLC 0.03% of their portfolio NEW YORK, NY 251,113251.1k $19.9m $19.9m 0.03% Added +244.0k +243,996
25 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 250,587250.6k $19.8m $19.8m 0.00% Reduced -456.9k -456,873
26 Ledyard National Bank 1.66% of their portfolio HANOVER, NH 241,726241.7k $19.1m $19.1m 1.66% Reduced -7.1k -7,102
27 Point72 Asset Management, L.P. 0.03% of their portfolio STAMFORD, CT 210,056210.1k $16.6m $16.6m 0.03% Added +65.6k +65,563
28 Ensign Peak Advisors, Inc 0.03% of their portfolio SALT LAKE CITY, UT 196,225196.2k $15.5m $15.5m 0.03% Added +187.5k +187,482
29 RFG Holdings, Inc. 3.49% of their portfolio Argyle, TX 175,101175.1k $13.9m $13.9m 3.49% Reduced -25.7k -25,709
30 Foundations Investment Advisors, LLC 0.16% of their portfolio PHOENIX, AZ 162,212162.2k $12.8m $12.8m 0.16% Added +10.9k +10,946
31 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 160,404160.4k $12.7m $12.7m 0.01% Added +91.8k +91,839
32 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 145,619145.6k $11.5m $11.5m 0.01% Reduced -10.2k -10,241
33 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 144,343144.3k $11.4m $11.4m 0.00% Added +3.0k +2,974
34 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 133,136133.1k $10.5m $10.5m 0.01% Reduced -86.2k -86,230
35 VALLEY WEALTH MANAGERS, INC. 0.60% of their portfolio PARAMUS, NJ 118,073118.1k $9.3m $9.3m 0.60% Reduced -49.4k -49,394
36 Guardian Partners Inc. 0.77% of their portfolio TORONTO, Z4 117,400117.4k $9.3m $9.3m 0.77% Reduced -21.0k -21,000
37 LOWE BROCKENBROUGH & CO INC 0.43% of their portfolio RICHMOND, VA 109,735109.7k $8.7m $8.7m 0.43% Added +678 +678
38 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 100,905100.9k $8.0m $8.0m 0.00% Reduced -75.5k -75,518
39 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 92,99993.0k $7.4m $7.4m 0.01% New
40 WP Advisors, LLC 1.84% of their portfolio San Francisco, CA 89,86689.9k $7.1m $7.1m 1.84% Reduced -2.3k -2,310
41 Wealthcare Advisory Partners LLC 0.13% of their portfolio WEST CHESTER, PA 86,64486.6k $6.9m $6.9m 0.13% Added +3.1k +3,135
42 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 81,53081.5k $6.5m $6.5m 0.01% Added +40.9k +40,878
43 Csenge Advisory Group 0.29% of their portfolio CLEARWATER, FL 79,16979.2k $6.3m $6.3m 0.29% Reduced -55.8k -55,779
44 QUATTRO FINANCIAL ADVISORS LLC 1.87% of their portfolio The Woodlands, TX 78,00878.0k $6.2m $6.2m 1.87% Added +35.8k +35,773
45 Astoria Portfolio Advisors LLC. 1.43% of their portfolio NEW YORK, NY 77,04377.0k $6.7m $6.7m 1.43% Added +4.4k +4,432
46 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 76,25276.3k $6.0m $6.0m 0.00% Added +1.4k +1,403
47 MEITAV INVESTMENT HOUSE LTD 0.06% of their portfolio BENE-BERAQ, L3 64,55564.6k $5.1m $5.1m 0.06% Reduced -16.9k -16,905
48 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 64,35064.3k $5.1m $5.1m 0.00% Reduced -25.8k -25,757
49 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 59,03259.0k $4.7m $4.7m 0.00% Added +15.8k +15,809
50 Silphium Asset Management Ltd 1.72% of their portfolio London, X0 57,40657.4k $4.5m $4.5m 1.72% Reduced -2.4k -2,400
51 Vermillion & White Wealth Management Group, LLC 2.53% of their portfolio PHOENIXVILLE, PA 55,57155.6k $4.4m $4.4m 2.53% Added +3.4k +3,384
52 Pinnacle Financial Partners, Inc. 0.03% of their portfolio ATLANTA, GA 54,07754.1k $4.3m $4.3m 0.03% Added +255 +255
53 First International Bank of Israel Ltd. 1.21% of their portfolio TEL AVIV, L3 52,00052.0k $4.1m $4.1m 1.21% Reduced -10.0k -10,000
54 Quadcap Wealth Management, LLC 0.46% of their portfolio Frisco, TX 51,09451.1k $4.0m $4.0m 0.46% Reduced -5.5k -5,473
55 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 50,30450.3k $4.0m $4.0m 0.01% Added +18.1k +18,118
56 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 50,09150.1k $4.0m $4.0m 0.01% Reduced -19.7k -19,675
57 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 49,75049.8k $3.9m $3.9m 0.01% Added +2.9k +2,928
58 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.02% of their portfolio VICTORIA, A1 46,80046.8k $3.7m $3.7m 0.02% New
59 &PARTNERS 0.02% of their portfolio NASHVILLE, TN 46,13246.1k $3.6m $3.6m 0.02% Reduced -3.7k -3,676
60 STEPHENS INC /AR/ 0.04% of their portfolio LITTLE ROCK, AR 44,87644.9k $3.6m $3.6m 0.04% Reduced -41.9k -41,904
61 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 43,72243.7k $3.5m $3.5m 0.00% Reduced -9.9k -9,892
62 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 42,98743.0k $3.4m $3.4m 0.00% Reduced -11.2k -11,166
63 Hobbs Group Advisors, LLC 1.01% of their portfolio COLUMBIA, SC 42,54642.5k $3.4m $3.4m 1.01% Added +4.6k +4,638
64 PGIM Custom Harvest LLC 0.05% of their portfolio NEWARK, NJ 41,19241.2k $3.3m $3.3m 0.05% Reduced -3.2k -3,175
65 Quantinno Capital Management LP 0.01% of their portfolio NEW YORK, NY 40,00340.0k $3.2m $3.2m 0.01% Reduced -2.2k -2,231
66 ProVise Management Group, LLC 0.23% of their portfolio CLEARWATER, FL 39,92739.9k $3.2m $3.2m 0.23% Reduced -495 -495
67 Delos Wealth Advisors, LLC 1.77% of their portfolio DALLAS, TX 39,14439.1k $3.1m $3.1m 1.77% Added +2.7k +2,729
68 Advocacy Wealth Management, LLC 0.14% of their portfolio ATLANTA, GA 38,86338.9k $3.1m $3.1m 0.14% Added +891 +891
69 Pinnacle Wealth Management Group, Inc. 1.50% of their portfolio PLYMOUTH, MI 38,66538.7k $3.1m $3.1m 1.50% Added +1.7k +1,658
70 HAZLETT, BURT & WATSON, INC. 0.93% of their portfolio WHEELING, WV 37,79537.8k $3.0m $3.0m 0.93% Added +2.1k +2,130
71 Anfield Capital Management, LLC 0.78% of their portfolio IRVINE, CA 35,78035.8k $2.8m $2.8m 0.78% Added +3.1k +3,075
72 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 34,80134.8k $2.8m $2.8m 0.00% Reduced -3 -3
73 Transamerica Financial Advisors, LLC 0.22% of their portfolio CEDAR RAPIDS, IA 32,92332.9k $2.6m $2.6m 0.22% Reduced -4.5k -4,504
74 FOUNDERS FINANCIAL SECURITIES LLC 0.16% of their portfolio TOWSON, MD 32,49832.5k $2.8m $2.8m 0.16% Added +895 +895
75 JUNCTURE WEALTH STRATEGIES, LLC 0.85% of their portfolio SCOTTSDALE, AZ 32,10732.1k $2.5m $2.5m 0.85% Added +805 +805
76 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 29,34829.3k $2.3m $2.3m 0.01% Reduced -4.7k -4,727
77 INTEGRITY ALLIANCE, LLC. 0.09% of their portfolio Urbandale, IA 28,32028.3k $2.2m $2.2m 0.09% Added +22.1k +22,094
78 Gotham Asset Management, LLC 0.01% of their portfolio NEW YORK, NY 27,97428.0k $2.2m $2.2m 0.01% Added +10.8k +10,753
79 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 27,09127.1k $2.1m $2.1m 0.00% Reduced -7.6k -7,608
80 NewEdge Wealth, LLC 0.03% of their portfolio STAMFORD, CT 26,95827.0k $2.1m $2.1m 0.03% Reduced -2.8k -2,832
81 XTX Topco Ltd 0.03% of their portfolio LONDON, X0 23,62723.6k $1.9m $1.9m 0.03% Added +17.1k +17,110
82 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 22,90522.9k $1.8m $1.8m 0.00% Reduced -2.8k -2,761
83 Magnus Financial Group LLC 0.15% of their portfolio NEW YORK, NY 22,71622.7k $1.8m $1.8m 0.15% Added +653 +653
84 MENORA MIVTACHIM HOLDINGS LTD. 0.01% of their portfolio Ramat Gan, L3 22,00022.0k $1.7m $1.7m 0.01% Reduced -3.5m -3,526,900
85 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 18,30318.3k $1.4m $1.4m 0.01% Added +8.2k +8,206
86 CREDIT INDUSTRIEL ET COMMERCIAL 0.22% of their portfolio PARIS FRANCE, I0 17,72317.7k $1.4m $1.4m 0.22% New
87 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 17,59017.6k $1.4m $1.4m 0.00% Reduced -36.3k -36,297
88 U.S. Capital Wealth Advisors, LLC 0.03% of their portfolio AUSTIN, TX 16,49816.5k $1.3m $1.3m 0.03% Reduced -45 -45
89 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 16,38916.4k $1.3m $1.3m 0.01% Reduced -12.3k -12,305
90 EASTERN BANK 0.02% of their portfolio BOSTON, MA 16,24816.2k $1.3m $1.3m 0.02% Reduced -220 -220
91 Keel Point, LLC 0.09% of their portfolio HUNTSVILLE, AL 16,10916.1k $1.3m $1.3m 0.09% Reduced -12.3k -12,315
92 BENJAMIN EDWARDS INC 0.01% of their portfolio Clayton, MO 15,47515.5k $1.2m $1.2m 0.01% Added +3.8k +3,800
93 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 15,30615.3k $1.2m $1.2m 0.00% Reduced -7.3k -7,306
94 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 15,25315.3k $1.2m $1.2m 0.00% Reduced -351 -351
95 Independent Advisor Alliance 0.01% of their portfolio CHARLOTTE, NC 15,00415.0k $1.2m $1.2m 0.01% Added +1.6k +1,615
96 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 14,74714.7k $1.2m $1.2m 0.00% Reduced -38 -38
97 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 14,20914.2k $1.1m $1.1m 0.00% Reduced -53 -53
98 PARSONS CAPITAL MANAGEMENT INC/RI 0.05% of their portfolio PROVIDENCE, RI 14,04114.0k $1.1m $1.1m 0.05% Unchanged
99 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 13,50013.5k $1.1m $1.1m 0.00% New
100 Summit Financial, LLC 0.01% of their portfolio PARSIPPANY, NJ 13,29013.3k $1.1m $1.1m 0.01% Added +868 +868