Vault-13

INVESCO EXCH TRD SLF IDX FD BSMS

BULSHS 2028 MUNI · ETP · CUSIP 46138J486

121 institutional holders +13 vs Q3 2025
7,400,6217.4m shares reported held*
$174.3mreported value*
15 new 62 added 17 reduced 5 sold out net bought ≈ $12.6m (+537.1k 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. Holder counts are more reliable. Implied quarter-end price ≈ $23.56.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 23Q4 22: 29Q1 23: 34Q2 23: 42Q3 23: 41Q4 23: 52Q1 24: 55Q2 24: 64Q3 24: 74Q4 24: 89Q1 25: 95Q2 25: 96Q3 25: 108Q4 25: 121121Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202223
Q4 202229
Q1 202334
Q2 202342
Q3 202341
Q4 202352
Q1 202455
Q2 202464
Q3 202474
Q4 202489
Q1 202595
Q2 202596
Q3 2025108
Q4 2025121

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 38 bought or addedQ1 24: 15 cut or sold outQ2 24: 34 bought or addedQ2 24: 20 cut or sold outQ2 24Q3 24: 52 bought or addedQ3 24: 11 cut or sold outQ4 24: 54 bought or addedQ4 24: 15 cut or sold outQ4 24Q1 25: 55 bought or addedQ1 25: 20 cut or sold outQ2 25: 58 bought or addedQ2 25: 24 cut or sold outQ2 25Q3 25: 67 bought or addedQ3 25: 24 cut or sold outQ4 25: 77 bought or addedQ4 25: 22 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243815
Q2 20243420
Q3 20245211
Q4 20245415
Q1 20255520
Q2 20255824
Q3 20256724
Q4 20257722

Biggest buyers

Invesco Ltd. Added +142,158+142.2k
Atlantic Union Bankshares Corp New +137,263+137.3k
HighTower Advisors, LLC Added +59,017+59.0k
LPL Financial LLC Added +51,111+51.1k
PAX Financial Group, LLC New +48,065+48.1k
RAYMOND JAMES FINANCIAL INC Added +47,426+47.4k
UBS Group AG Added +46,088+46.1k
Cornerstone Wealth Management, LLC Added +46,076+46.1k
Hills Bank & Trust Co Added +35,806+35.8k
Sequoia Financial Advisors, LLC New +29,880+29.9k

Biggest sellers

CONFLUENCE INVESTMENT MANAGEMENT LLC Sold out -126,710-126.7k
Elequin Capital, LP Reduced -98,803-98.8k
WELLS FARGO & COMPANY/MN Reduced -81,243-81.2k
JANE STREET GROUP, LLC Sold out -67,607-67.6k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -66,282-66.3k
VestGen Advisors, LLC Reduced -53,244-53.2k
MORGAN STANLEY Reduced -46,537-46.5k
GOLDMAN SACHS GROUP INC Sold out -35,143-35.1k
Sanctuary Advisors, LLC Reduced -15,532-15.5k
First Command Advisory Services, Inc. Reduced -12,376-12.4k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 478,530478.5k $11.2m $11.2m 0.00% Added +51.1k +51,111
2 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 379,068379.1k $8.9m $8.9m 0.00% Added +142.2k +142,158
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 368,732368.7k $8.7m $8.7m 0.00% Reduced -46.5k -46,537
4 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 298,844298.8k $7.0m $7.0m 0.01% Added +4.2k +4,231
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 257,275257.3k $6.0m $6.0m 0.00% Added +15.7k +15,729
6 Kathmere Capital Management, LLC 0.37% of their portfolio WAYNE, PA 231,189231.2k $5.4m $5.4m 0.37% Reduced -6.5k -6,513
7 UBS Group AG 0.00% of their portfolio ZURICH, V8 226,787226.8k $5.3m $5.3m 0.00% Added +46.1k +46,088
8 Hills Bank & Trust Co 0.30% of their portfolio North Liberty, IA 218,048218.0k $5.1m $5.1m 0.30% Added +35.8k +35,806
9 Summit Financial, LLC 0.07% of their portfolio PARSIPPANY, NJ 216,443216.4k $5.1m $5.1m 0.07% Added +85 +85
10 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 213,780213.8k $5.0m $5.0m 0.00% Added +47.4k +47,426
11 Key Financial Inc 0.89% of their portfolio WEST CHESTER, PA 207,875207.9k $4.9m $4.9m 0.89% Added +28.9k +28,851
12 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 197,624197.6k $4.6m $4.6m 0.01% Reduced -66.3k -66,282
13 CENTRAL VALLEY ADVISORS, LLC 1.32% of their portfolio SACRAMENTO, CA 187,322187.3k $4.4m $4.4m 1.32% Added +621 +621
14 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 182,333182.3k $4.3m $4.3m 0.02% Added +14.5k +14,497
15 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 174,410174.4k $4.1m $4.1m 0.00% Reduced -81.2k -81,243
16 PRECEDENT WEALTH PARTNERS, LLC 0.78% of their portfolio HOUSTON, TX 158,066158.1k $3.7m $3.7m 0.78% Added +11.8k +11,768
17 Integrated Wealth Concepts LLC 0.04% of their portfolio WALTHAM, MA 141,383141.4k $3.3m $3.3m 0.04% Added +23.2k +23,248
18 MONECO ADVISORS, LLC 0.26% of their portfolio FAIRFIELD, CT 137,875137.9k $3.2m $3.2m 0.26% Added +6.4k +6,422
19 Atlantic Union Bankshares Corp 0.06% of their portfolio GLEN ALLEN, VA 137,263137.3k $3.2m $3.2m 0.06% New
20 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 123,246123.2k $2.9m $2.9m 0.00% Added +8.2k +8,184
21 Asset Dedication, LLC 0.19% of their portfolio SAN FRANCISCO, CA 122,008122.0k $2.9m $2.9m 0.19% Added +22.5k +22,467
22 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 117,134117.1k $2.8m $2.8m 0.00% Added +59.0k +59,017
23 Invariant Investment Management 1.70% of their portfolio CAMP HILL, PA 112,513112.5k $2.7m $2.7m 1.70% First filing
24 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 108,401108.4k $2.5m $2.5m 0.00% Added +7.9k +7,853
25 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 107,177107.2k $2.5m $2.5m 0.01% Reduced -15.5k -15,532
26 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 102,973103.0k $2.4m $2.4m 0.00% Added +18.9k +18,870
27 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 92,32592.3k $2.2m $2.2m 0.01% Added +23.9k +23,937
28 VestGen Advisors, LLC 0.09% of their portfolio CHICAGO, IL 86,26386.3k $2.0m $2.0m 0.09% Reduced -53.2k -53,244
29 SIGNATUREFD, LLC 0.03% of their portfolio ATLANTA, GA 76,36076.4k $1.8m $1.8m 0.03% Unchanged
30 Coastline Complete Wealth LLC 1.06% of their portfolio BLUFFTON, SC 71,55571.6k $1.7m $1.7m 1.06% First filing
31 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 65,40065.4k $1.5m $1.5m 0.00% Added +5.3k +5,307
32 Clark Asset Management, LLC 0.16% of their portfolio STRATHAM, NH 64,72364.7k $1.5m $1.5m 0.16% Added +9.1k +9,114
33 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 58,54958.5k $1.4m $1.4m 0.00% Added +20.5k +20,535
34 Cornerstone Wealth Management, LLC 0.07% of their portfolio ST. PETERS, MO 58,08858.1k $1.4m $1.4m 0.07% Added +46.1k +46,076
35 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 54,18154.2k $1.3m $1.3m 0.01% Reduced -10.0k -10,000
36 Farmers National Bank 0.28% of their portfolio DANVILLE, KY 53,84853.8k $1.3m $1.3m 0.28% Added +1.1k +1,065
37 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 48,72448.7k $1.1m $1.1m 0.00% Added +4.2k +4,236
38 Modern Wealth Management, LLC 0.02% of their portfolio KANSAS CITY, MO 48,63848.6k $1.1m $1.1m 0.02% Unchanged
39 PAX Financial Group, LLC 0.19% of their portfolio SAN ANTONIO, TX 48,06548.1k $1.1m $1.1m 0.19% New
40 BROWN ADVISORY INC 0.00% of their portfolio BALTIMORE, MD 46,96447.0k $1.1m $1.1m 0.00% Unchanged
41 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 41,13141.1k $966.6k $966.6k 0.00% Added +63 +63
42 Paulson Wealth Management Inc. 0.22% of their portfolio West Palm Beach, FL 40,78840.8k $958.5k $958.5k 0.22% Added +2.3k +2,348
43 AlphaStar Capital Management, LLC 0.07% of their portfolio CORNELIUS, NC 39,72939.7k $933.6k $933.6k 0.07% Reduced -5.2k -5,237
44 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 36,86936.9k $866.4k $866.4k 0.00% Added +23.6k +23,558
45 Astoria Portfolio Advisors LLC. 0.20% of their portfolio NEW YORK, NY 36,40236.4k $860.0k $860.0k 0.20% Added +27.5k +27,527
46 Legacy Private Trust Co. 0.04% of their portfolio NEENAH, WI 32,46032.5k $762.8k $762.8k 0.04% Added +14.5k +14,500
47 Accurate Wealth Management, LLC 0.09% of their portfolio WESLEY CHAPEL, FL 30,66030.7k $722.5k $722.5k 0.09% Added +20.9k +20,919
48 Marietta Wealth Management, LLC 0.08% of their portfolio MARIETTA, GA 30,46930.5k $716.0k $716.0k 0.08% Unchanged
49 Sequoia Financial Advisors, LLC 0.00% of their portfolio Akron, OH 29,88029.9k $702.2k $702.2k 0.00% New
50 Wealthcare Advisory Partners LLC 0.01% of their portfolio WEST CHESTER, PA 29,53029.5k $694.0k $694.0k 0.01% Unchanged
51 Vermillion & White Wealth Management Group, LLC 0.38% of their portfolio PHOENIXVILLE, PA 29,41529.4k $692.6k $692.6k 0.38% New
52 Koss-Olinger Consulting, LLC 0.05% of their portfolio GAINESVILLE, FL 27,98428.0k $658.0k $658.0k 0.05% Unchanged
53 SENTINEL PENSION ADVISORS, LLC 0.10% of their portfolio WAKEFIELD, MA 27,13427.1k $637.6k $637.6k 0.10% Added +17 +17
54 Meridian Wealth Management, LLC 0.02% of their portfolio LEXINGTON, KY 26,83426.8k $630.6k $630.6k 0.02% Added +4.3k +4,258
55 Addison Advisors LLC 0.14% of their portfolio MIDDLEBURY, VT 26,35526.4k $619.3k $619.3k 0.14% Added +570 +570
56 WEBSTER BANK, N. A. 0.06% of their portfolio WATERBURY, CT 25,57525.6k $601.0k $601.0k 0.06% New
57 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 25,50625.5k $599.0k $599.0k 0.00% Added +11.6k +11,592
58 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 24,63024.6k $578.8k $578.8k 0.00% Added +5.9k +5,903
59 LANDAAS & CO /WI /ADV 0.12% of their portfolio MILWAUKEE, WI 23,73623.7k $557.8k $557.8k 0.12% Added +9.8k +9,779
60 TLWM 0.10% of their portfolio SAN ANTONIO, TX 23,15923.2k $544.2k $544.2k 0.10% New
61 Hobbs Group Advisors, LLC 0.16% of their portfolio COLUMBIA, SC 22,53722.5k $529.6k $529.6k 0.16% Added +323 +323
62 HOWARD WEALTH MANAGEMENT, LLC 0.23% of their portfolio Madison, CT 22,03022.0k $517.7k $517.7k 0.23% Added +6.5k +6,489
63 DOVER ADVISORS, LLC 0.20% of their portfolio RICHMOND, VA 21,89021.9k $514.4k $514.4k 0.20% Unchanged
64 WESPAC Advisors, LLC 0.28% of their portfolio ORINDA, CA 21,65321.7k $508.8k $508.8k 0.28% Unchanged
65 Horizons Wealth Management 0.34% of their portfolio ASHEVILLE, NC 21,53721.5k $506.1k $506.1k 0.34% Added +1.5k +1,486
66 Avantax Planning Partners, Inc. 0.01% of their portfolio DUBUQUE, IA 21,18921.2k $497.9k $497.9k 0.01% New
67 Cambridge Financial Group, LLC 0.17% of their portfolio TUCSON, AZ 20,36520.4k $477.9k $477.9k 0.17% Unchanged
68 OneDigital Investment Advisors LLC 0.00% of their portfolio OVERLAND PARK, KS 20,28320.3k $476.7k $476.7k 0.00% Added +1.1k +1,065
69 MEMBERS WEALTH LLC 0.29% of their portfolio MEDIA, PA 19,47319.5k $458.6k $458.6k 0.29% Added +2.1k +2,123
70 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 19,34219.3k $455.0k $455.0k 0.00% Added +1.9k +1,910
71 River Street Advisors LLC 0.17% of their portfolio AURORA, IL 18,88518.9k $443.8k $443.8k 0.17% Unchanged
72 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 18,69418.7k $439.3k $439.3k 0.01% Added +126 +126
73 Jacobi Capital Management LLC 0.02% of their portfolio PITTSTON, PA 18,18218.2k $427.3k $427.3k 0.02% Added +3.2k +3,200
74 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 17,18317.2k $403.8k $403.8k 0.00% Added +1.0k +1,037
75 Clearstead Advisors, LLC 0.01% of their portfolio CLEVELAND, OH 17,02217.0k $400.0k $400.0k 0.01% Added +4.3k +4,265
76 FF Advisors,LLC 0.18% of their portfolio MANHATTAN BEACH, CA 16,87816.9k $396.6k $396.6k 0.18% Added +93 +93
77 KICKSTAND VENTURES, LLC. 0.08% of their portfolio PITTSFORD, NY 16,70116.7k $392.5k $392.5k 0.08% Added +1.3k +1,325
78 Heritage Trust Co 0.04% of their portfolio OKLAHOMA CITY, OK 16,08816.1k $378.1k $378.1k 0.04% Added +2.3k +2,343
79 Wingate Wealth Advisors, Inc. 0.20% of their portfolio LEXINGTON, MA 15,40315.4k $362.0k $362.0k 0.20% Added +104 +104
80 Cooksen Wealth, LLC 0.26% of their portfolio THE WOODLANDS, TX 15,04815.0k $353.6k $353.6k 0.26% Unchanged
81 Anchor Investment Management, LLC 0.03% of their portfolio COLUMBIA, SC 15,00015.0k $352.5k $352.5k 0.03% Added +7.5k +7,500
82 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 14,96715.0k $351.7k $351.7k 0.00% Added +7.5k +7,469
83 StoneX Group Inc. 0.01% of their portfolio NEW YORK, NY 14,46214.5k $339.9k $339.9k 0.01% Reduced -4.0k -3,987
84 AA Financial Advisors, LLC 0.06% of their portfolio Columbus, OH 14,28014.3k $335.6k $335.6k 0.06% Added +12 +12
85 SILVERLAKE WEALTH MANAGEMENT LLC 0.07% of their portfolio WILLISTON, VT 13,70013.7k $321.9k $321.9k 0.07% Added +1.9k +1,853
86 YANKCOM Partnership 0.14% of their portfolio Yankton, SD 13,69113.7k $321.7k $321.7k 0.14% Reduced -764 -764
87 Bill Few Associates, Inc. 0.07% of their portfolio SEWICKLEY, PA 12,83612.8k $301.6k $301.6k 0.07% Unchanged
88 Ausdal Financial Partners, Inc. 0.01% of their portfolio Davenport, IA 12,25012.2k $287.9k $287.9k 0.01% New
89 CGN Advisors LLC 0.02% of their portfolio MANHATTAN, KS 12,19812.2k $286.7k $286.7k 0.02% Reduced -1.6k -1,643
90 Wagner Wealth Management, Corp 0.28% of their portfolio CONYNGHAM, PA 12,08312.1k $283.9k $283.9k 0.28% First filing
91 First Command Advisory Services, Inc. 0.00% of their portfolio FORT WORTH, TX 11,87911.9k $279.2k $279.2k 0.00% Reduced -12.4k -12,376
92 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 11,77411.8k $276.7k $276.7k 0.00% Reduced -1.3k -1,266
93 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 11,21411.2k $264.0k $264.0k 0.00% Added +9 +9
94 Prospera Financial Services Inc 0.00% of their portfolio Dallas, TX 11,06711.1k $260.1k $260.1k 0.00% Unchanged
95 Coastal Bridge Advisors, LLC 0.02% of their portfolio WESTPORT, CT 10,41510.4k $244.8k $244.8k 0.02% Added +1.5k +1,502
96 Beacon Pointe Advisors, LLC 0.00% of their portfolio NEWPORT BEACH, CA 10,06210.1k $236.5k $236.5k 0.00% Reduced -8.1k -8,079
97 Garden State Investment Advisory Services LLC 0.06% of their portfolio Red Bank, NJ 9,8589.9k $231.7k $231.7k 0.06% New
98 Aptus Capital Advisors, LLC 0.00% of their portfolio FAIRHOPE, AL 9,8119.8k $230.6k $230.6k 0.00% Added +66 +66
99 NorthAvenue LLC 0.18% of their portfolio COLUMBUS, OH 9,4969.5k $223.2k $223.2k 0.18% First filing
100 COOKSON PEIRCE & CO INC 0.01% of their portfolio PITTSBURGH, PA 9,1319.1k $214.6k $214.6k 0.01% New