Vault-13

INVESCO EXCH TRD SLF IDX FD BSMR

BULSHS 2027 MUNI · ETP · CUSIP 46138J494

138 institutional holders +14 vs Q3 2025
8,924,1228.9m shares reported held*
$211.4mreported value*
14 new 75 added 16 reduced 4 sold out net bought ≈ $11.1m (+468.7k 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 ≈ $23.69.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 32Q4 22: 43Q1 23: 46Q2 23: 53Q3 23: 55Q4 23: 72Q1 24: 76Q2 24: 85Q3 24: 94Q4 24: 110Q1 25: 116Q2 25: 122Q3 25: 124Q4 25: 138138Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202232
Q4 202243
Q1 202346
Q2 202353
Q3 202355
Q4 202372
Q1 202476
Q2 202485
Q3 202494
Q4 2024110
Q1 2025116
Q2 2025122
Q3 2025124
Q4 2025138

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 52 bought or addedQ1 24: 17 cut or sold outQ2 24: 53 bought or addedQ2 24: 19 cut or sold outQ2 24Q3 24: 64 bought or addedQ3 24: 18 cut or sold outQ4 24: 71 bought or addedQ4 24: 20 cut or sold outQ4 24Q1 25: 74 bought or addedQ1 25: 27 cut or sold outQ2 25: 66 bought or addedQ2 25: 41 cut or sold outQ2 25Q3 25: 81 bought or addedQ3 25: 28 cut or sold outQ4 25: 89 bought or addedQ4 25: 20 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20245217
Q2 20245319
Q3 20246418
Q4 20247120
Q1 20257427
Q2 20256641
Q3 20258128
Q4 20258920

Biggest buyers

Elequin Capital, LP New +155,296+155.3k
Thrivent Financial for Lutherans Added +87,660+87.7k
Hills Bank & Trust Co Added +83,937+83.9k
HighTower Advisors, LLC Added +81,610+81.6k
Invesco Ltd. Added +35,734+35.7k
Summit Trail Advisors, LLC New +33,451+33.5k
LPL Financial LLC Added +32,144+32.1k
Asset Dedication, LLC Added +30,078+30.1k
Sequoia Financial Advisors, LLC New +28,399+28.4k
UBS Group AG Added +27,789+27.8k

Biggest sellers

Sanctuary Advisors, LLC Reduced -187,163-187.2k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -162,110-162.1k
Atlantic Union Bankshares Corp Reduced -134,093-134.1k
VestGen Advisors, LLC Reduced -105,511-105.5k
WELLS FARGO & COMPANY/MN Reduced -42,771-42.8k
OneAscent Financial Services LLC Sold out -17,650-17.6k
First Command Advisory Services, Inc. Reduced -15,157-15.2k
HUB Investment Partners, LLC Sold out -8,511-8.5k
CONFLUENCE INVESTMENT MANAGEMENT LLC Reduced -7,939-7.9k
Beacon Pointe Advisors, LLC Reduced -7,926-7.9k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 550,284550.3k $13.0m $13.0m 0.00% Added +3.7k +3,749
2 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 449,345449.3k $10.6m $10.6m 0.00% Reduced -42.8k -42,771
3 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 445,800445.8k $10.5m $10.5m 0.00% Added +32.1k +32,144
4 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 369,828369.8k $8.8m $8.8m 0.00% Added +35.7k +35,734
5 Key Financial Inc 1.33% of their portfolio WEST CHESTER, PA 308,789308.8k $7.3m $7.3m 1.33% Added +24.3k +24,338
6 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 284,711284.7k $6.7m $6.7m 0.00% Added +11.0k +10,990
7 CONFLUENCE INVESTMENT MANAGEMENT LLC 0.09% of their portfolio ST. LOUIS, MO 243,914243.9k $5.8m $5.8m 0.09% Reduced -7.9k -7,939
8 Summit Financial, LLC 0.07% of their portfolio PARSIPPANY, NJ 214,389214.4k $5.1m $5.1m 0.07% Added +84 +84
9 Hills Bank & Trust Co 0.28% of their portfolio North Liberty, IA 206,566206.6k $4.9m $4.9m 0.28% Added +83.9k +83,937
10 Atlantic Union Bankshares Corp 0.09% of their portfolio GLEN ALLEN, VA 203,047203.0k $4.8m $4.8m 0.09% Reduced -134.1k -134,093
11 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 200,837200.8k $4.8m $4.8m 0.00% Added +21.3k +21,292
12 UBS Group AG 0.00% of their portfolio ZURICH, V8 196,395196.4k $4.6m $4.6m 0.00% Added +27.8k +27,789
13 Avior Wealth Management, LLC 0.14% of their portfolio OMAHA, NE 191,201191.2k $4.5m $4.5m 0.14% Added +24.8k +24,814
14 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 187,131187.1k $4.4m $4.4m 0.02% Reduced -187.2k -187,163
15 CENTRAL VALLEY ADVISORS, LLC 1.30% of their portfolio SACRAMENTO, CA 184,260184.3k $4.4m $4.4m 1.30% Added +201 +201
16 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 182,828182.8k $4.3m $4.3m 0.02% Added +12.6k +12,552
17 Integrated Wealth Concepts LLC 0.05% of their portfolio WALTHAM, MA 172,150172.2k $4.1m $4.1m 0.05% Added +17.4k +17,367
18 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 159,532159.5k $3.8m $3.8m 0.00% Added +81.6k +81,610
19 PRECEDENT WEALTH PARTNERS, LLC 0.78% of their portfolio HOUSTON, TX 157,893157.9k $3.7m $3.7m 0.78% Added +11.7k +11,747
20 Coastline Complete Wealth LLC 2.32% of their portfolio BLUFFTON, SC 155,694155.7k $3.7m $3.7m 2.32% First filing
21 Elequin Capital, LP 0.48% of their portfolio NEW YORK, NY 155,296155.3k $3.7m $3.7m 0.48% New
22 Asset Dedication, LLC 0.22% of their portfolio SAN FRANCISCO, CA 138,717138.7k $3.3m $3.3m 0.22% Added +30.1k +30,078
23 MONECO ADVISORS, LLC 0.25% of their portfolio FAIRFIELD, CT 135,239135.2k $3.2m $3.2m 0.25% Added +7.6k +7,557
24 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 129,150129.2k $3.1m $3.1m 0.00% Added +21.4k +21,429
25 Kathmere Capital Management, LLC 0.20% of their portfolio WAYNE, PA 126,137126.1k $3.0m $3.0m 0.20% Reduced -549 -549
26 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 115,573115.6k $2.7m $2.7m 0.00% Reduced -5.8k -5,843
27 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 111,898111.9k $2.6m $2.6m 0.00% Added +11.2k +11,161
28 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 110,614110.6k $2.6m $2.6m 0.00% Reduced -162.1k -162,110
29 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 101,675101.7k $2.4m $2.4m 0.00% Added +87.7k +87,660
30 VestGen Advisors, LLC 0.10% of their portfolio CHICAGO, IL 96,55796.6k $2.3m $2.3m 0.10% Reduced -105.5k -105,511
31 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 88,02188.0k $2.1m $2.1m 0.01% Added +16.1k +16,076
32 SIGNATUREFD, LLC 0.03% of their portfolio ATLANTA, GA 87,58087.6k $2.1m $2.1m 0.03% Unchanged
33 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 76,60576.6k $1.8m $1.8m 0.00% Added +10.1k +10,071
34 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 75,02175.0k $1.8m $1.8m 0.00% Added +18.8k +18,817
35 Cornerstone Wealth Management, LLC 0.08% of their portfolio ST. PETERS, MO 68,12568.1k $1.6m $1.6m 0.08% Added +2.6k +2,619
36 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 67,20767.2k $1.6m $1.6m 0.01% Added +13.7k +13,665
37 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 64,91664.9k $1.5m $1.5m 0.00% Added +14.2k +14,213
38 Paulson Wealth Management Inc. 0.33% of their portfolio West Palm Beach, FL 59,67659.7k $1.4m $1.4m 0.33% Added +2.7k +2,739
39 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 55,73655.7k $1.3m $1.3m 0.00% Added +13.9k +13,900
40 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 53,31553.3k $1.3m $1.3m 0.00% Added +15.1k +15,060
41 Farmers National Bank 0.27% of their portfolio DANVILLE, KY 50,94950.9k $1.2m $1.2m 0.27% Added +1.3k +1,309
42 Astoria Portfolio Advisors LLC. 0.26% of their portfolio NEW YORK, NY 48,36948.4k $1.1m $1.1m 0.26% Added +5.1k +5,080
43 Farnam Financial LLC 0.84% of their portfolio PHOENIX, AZ 47,34047.3k $1.1m $1.1m 0.84% Unchanged
44 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 47,14147.1k $1.1m $1.1m 0.00% Added +62 +62
45 PAX Financial Group, LLC 0.19% of their portfolio SAN ANTONIO, TX 47,04647.0k $1.1m $1.1m 0.19% Added +26 +26
46 Clark Asset Management, LLC 0.12% of their portfolio STRATHAM, NH 46,89246.9k $1.1m $1.1m 0.12% Added +1.3k +1,301
47 BROWN ADVISORY INC 0.00% of their portfolio BALTIMORE, MD 46,64446.6k $1.1m $1.1m 0.00% Unchanged
48 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 45,16245.2k $1.1m $1.1m 0.01% Added +25.1k +25,099
49 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 44,04544.0k $1.0m $1.0m 0.00% Added +2.2k +2,166
50 Aptus Capital Advisors, LLC 0.01% of their portfolio FAIRHOPE, AL 43,36143.4k $1.0m $1.0m 0.01% Added +279 +279
51 Meridian Wealth Management, LLC 0.03% of their portfolio LEXINGTON, KY 38,95339.0k $921.8k $921.8k 0.03% Unchanged
52 Vermillion & White Wealth Management Group, LLC 0.50% of their portfolio PHOENIXVILLE, PA 38,86438.9k $923.2k $923.2k 0.50% Added +4.9k +4,908
53 Waverly Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 38,84138.8k $919.2k $919.2k 0.01% Added +24.3k +24,257
54 AlphaStar Capital Management, LLC 0.07% of their portfolio CORNELIUS, NC 38,10138.1k $901.7k $901.7k 0.07% Reduced -5.9k -5,888
55 Sarver Vrooman Wealth Advisors 0.54% of their portfolio KANSAS CITY, MO 35,93035.9k $850.3k $850.3k 0.54% Added +165 +165
56 WEBSTER BANK, N. A. 0.08% of their portfolio WATERBURY, CT 34,47534.5k $815.9k $815.9k 0.08% Added +25.4k +25,350
57 Summit Trail Advisors, LLC 0.01% of their portfolio NEW YORK, NY 33,45133.5k $791.6k $791.6k 0.01% New
58 Legacy Private Trust Co. 0.05% of their portfolio NEENAH, WI 33,00833.0k $781.1k $781.1k 0.05% Added +12.6k +12,643
59 LANDAAS & CO /WI /ADV 0.17% of their portfolio MILWAUKEE, WI 32,69632.7k $773.8k $773.8k 0.17% Added +15.8k +15,791
60 Koss-Olinger Consulting, LLC 0.06% of their portfolio GAINESVILLE, FL 32,53532.5k $770.0k $770.0k 0.06% Added +5.0k +5,021
61 Accurate Wealth Management, LLC 0.10% of their portfolio WESLEY CHAPEL, FL 32,06232.1k $761.2k $761.2k 0.10% Added +1.9k +1,939
62 Wealthcare Advisory Partners LLC 0.01% of their portfolio WEST CHESTER, PA 31,92031.9k $755.4k $755.4k 0.01% Unchanged
63 Savant Capital, LLC 0.00% of their portfolio ROCKFORD, IL 30,85730.9k $730.2k $730.2k 0.00% Added +18 +18
64 Marietta Wealth Management, LLC 0.08% of their portfolio MARIETTA, GA 30,24530.2k $715.8k $715.8k 0.08% Unchanged
65 Sequoia Financial Advisors, LLC 0.00% of their portfolio Akron, OH 28,39928.4k $672.1k $672.1k 0.00% New
66 SENTINEL PENSION ADVISORS, LLC 0.10% of their portfolio WAKEFIELD, MA 28,16728.2k $666.6k $666.6k 0.10% Added +16 +16
67 AA Financial Advisors, LLC 0.12% of their portfolio Columbus, OH 27,05127.1k $640.2k $640.2k 0.12% Added +4.2k +4,230
68 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 27,02927.0k $639.6k $639.6k 0.00% Added +4.4k +4,439
69 WESPAC Advisors, LLC 0.33% of their portfolio ORINDA, CA 25,87225.9k $612.3k $612.3k 0.33% Unchanged
70 Hobbs Group Advisors, LLC 0.18% of their portfolio COLUMBIA, SC 25,71725.7k $608.6k $608.6k 0.18% Reduced -71 -71
71 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 24,31224.3k $575.3k $575.3k 0.00% Unchanged
72 OneDigital Investment Advisors LLC 0.01% of their portfolio OVERLAND PARK, KS 24,05824.1k $569.3k $569.3k 0.01% Unchanged
73 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 23,85423.9k $564.5k $564.5k 0.00% Added +5.8k +5,837
74 YANKCOM Partnership 0.23% of their portfolio Yankton, SD 23,22623.2k $549.6k $549.6k 0.23% Unchanged
75 Addison Advisors LLC 0.12% of their portfolio MIDDLEBURY, VT 22,49822.5k $532.4k $532.4k 0.12% Added +405 +405
76 TLWM 0.10% of their portfolio SAN ANTONIO, TX 22,21022.2k $525.6k $525.6k 0.10% Unchanged
77 River Street Advisors LLC 0.20% of their portfolio AURORA, IL 22,20022.2k $525.4k $525.4k 0.20% Added +1.2k +1,180
78 VOISARD ASSET MANAGEMENT GROUP, INC. 0.11% of their portfolio Grand Rapids, MI 21,92021.9k $518.7k $518.7k 0.11% Added +4.9k +4,940
79 HOWARD WEALTH MANAGEMENT, LLC 0.23% of their portfolio Madison, CT 21,87521.9k $517.7k $517.7k 0.23% Added +6.4k +6,435
80 Avantax Planning Partners, Inc. 0.01% of their portfolio DUBUQUE, IA 21,00521.0k $497.1k $497.1k 0.01% New
81 First Command Advisory Services, Inc. 0.00% of their portfolio FORT WORTH, TX 20,00420.0k $473.4k $473.4k 0.00% Reduced -15.2k -15,157
82 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 18,45318.5k $436.7k $436.7k 0.01% Added +121 +121
83 KICKSTAND VENTURES, LLC. 0.09% of their portfolio PITTSFORD, NY 18,30218.3k $433.1k $433.1k 0.09% Added +1.3k +1,325
84 Heritage Trust Co 0.04% of their portfolio OKLAHOMA CITY, OK 18,14818.1k $429.5k $429.5k 0.04% Unchanged
85 Jacobi Capital Management LLC 0.02% of their portfolio PITTSTON, PA 18,03818.0k $426.9k $426.9k 0.02% Added +3.2k +3,200
86 Horizons Wealth Management 0.28% of their portfolio ASHEVILLE, NC 17,61817.6k $416.9k $416.9k 0.28% Added +1.3k +1,272
87 Bluespring Wealth Management, LLC 0.04% of their portfolio AUSTIN, TX 17,46517.5k $413.3k $413.3k 0.04% Added +6.8k +6,800
88 Bill Few Associates, Inc. 0.10% of their portfolio SEWICKLEY, PA 17,11917.1k $405.1k $405.1k 0.10% Unchanged
89 Clearstead Advisors, LLC 0.01% of their portfolio CLEVELAND, OH 16,87316.9k $399.3k $399.3k 0.01% Added +4.2k +4,231
90 Wingate Wealth Advisors, Inc. 0.20% of their portfolio LEXINGTON, MA 15,22015.2k $360.2k $360.2k 0.20% Added +100 +100
91 MEMBERS WEALTH LLC 0.22% of their portfolio MEDIA, PA 15,03415.0k $356.8k $356.8k 0.22% New
92 Cooksen Wealth, LLC 0.26% of their portfolio THE WOODLANDS, TX 14,86214.9k $351.7k $351.7k 0.26% Unchanged
93 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 14,78714.8k $349.9k $349.9k 0.00% Added +7.4k +7,370
94 SILVERLAKE WEALTH MANAGEMENT LLC 0.08% of their portfolio WILLISTON, VT 14,61314.6k $345.8k $345.8k 0.08% Added +2.8k +2,845
95 Western Wealth Management, LLC 0.02% of their portfolio GOLDEN, CO 14,60014.6k $345.5k $345.5k 0.02% Added +1.5k +1,500
96 Invariant Investment Management 0.22% of their portfolio CAMP HILL, PA 14,58714.6k $346.3k $346.3k 0.22% First filing
97 CGN Advisors LLC 0.03% of their portfolio MANHATTAN, KS 14,57214.6k $344.8k $344.8k 0.03% Reduced -2.1k -2,118
98 Wagner Wealth Management, Corp 0.34% of their portfolio CONYNGHAM, PA 14,56914.6k $344.8k $344.8k 0.34% First filing
99 StoneX Group Inc. 0.01% of their portfolio NEW YORK, NY 14,31514.3k $338.8k $338.8k 0.01% Reduced -6.2k -6,181
100 Capital Analysts, LLC 0.01% of their portfolio FORT WASHINGTON, PA 13,89813.9k $329.0k $329.0k 0.01% Added +6.5k +6,530