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Invesco Taxable Municipal Bond ETF
BAB

197 hedge funds and large institutions have $677M invested in Invesco Taxable Municipal Bond ETF in 2025 Q4 according to their latest regulatory filings, with 30 funds opening new positions, 62 increasing their positions, 67 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more first-time investments, than exits

New positions opened: 30 | Existing positions closed: 12

20% more capital invested

Capital invested by funds: $564M → $677M (+$113M)

9% more funds holding

Funds holding: 180 → 197 (+17)

5.03% more ownership

Funds ownership: 61.01% → 66.05% (+5%)

7% less repeat investments, than reductions

Existing positions increased: 62 | Existing positions reduced: 67

20% less funds holding in top 10

Funds holding in top 10: 5 → 4 (-1)

Holders
197
Holders Change
+17
Holders Change %
+9.44%
% of All Funds
2.4%
Holding in Top 10
4
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-20%
% of All Funds
0.05%
New
30
Increased
62
Reduced
67
Closed
12
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
AAS
Annex Advisory Services
Wisconsin
+$83.8M
2
Morgan Stanley
Morgan Stanley
New York
+$7.52M
3
Ameriprise
Ameriprise
Minnesota
+$3.98M
4
Corient Private Wealth
Corient Private Wealth
Florida
+$3.48M
5
AWM
AE Wealth Management
Kansas
+$2.33M

Top Sellers

1
HFA
Hershey Financial Advisers
Pennsylvania
-$3.53M
2
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$1.33M
3
Bank of America
Bank of America
North Carolina
-$1.11M
4
MOS
MGO One Seven
Ohio
-$755K
5
UBS Group
UBS Group
Switzerland
-$519K
Name Holding Trade Value Shares
Change 		Change in
Stake
CIAS
151
Capital Investment Advisory Services
North Carolina
$76.2K -$12.6K -461 -14%
William Blair & Company
152
William Blair & Company
Illinois
$68.1K -$10.9K -400 -14%
US Bancorp
153
US Bancorp
Minnesota
$67K +$67.4K +2,464 New
Fidelity Investments
154
Fidelity Investments
Massachusetts
$63K +$49.8K +1,821 +368%
CFG
155
Clayton Financial Group
Missouri
$54.7K – – –
AA
156
Ancora Advisors
Ohio
$40.8K – – –
National Bank of Canada
157
National Bank of Canada
Quebec, Canada
$39.4K – – –
MCM
158
MAI Capital Management
Ohio
$37.3K – – –
FDCDDQ
159
Federation des caisses Desjardins du Quebec
Quebec, Canada
$32.6K – – –
RFP
160
Root Financial Partners
California
$32.5K +$32.7K +1,194 New
1IA
161
1620 Investment Advisors
Massachusetts
$31.7K – – –
VCM
162
Versant Capital Management
Arizona
$30.3K +$301 +11 +1%
ACA
163
Aptus Capital Advisors
Alabama
$28.6K – – –
AC
164
AlphaCore Capital
California
$27.2K -$6.84K -250 -20%
FRA
165
Front Row Advisors
California
$25.8K – – –
SWM
166
Spire Wealth Management
Virginia
$25.4K -$8.97K -328 -26%
TCOT
167
Trust Company of Toledo
Ohio
$23.1K – – –
WG
168
Wellington Group
Indiana
$22.1K +$22.2K +813 New
Carson Wealth (CWM LLC)
169
Carson Wealth (CWM LLC)
Nebraska
$22K – – –
SWM
170
SHP Wealth Management
Massachusetts
$19.1K +$19.2K +702 New
AAP
171
Arax Advisory Partners
Colorado
$19K +$19.1K +700 New
RFS
172
Richardson Financial Services
Massachusetts
$15.9K +$5.47K +200 New
MWA
173
Medallion Wealth Advisors
Connecticut
$14.8K – – –
CPG
174
Cornerstone Planning Group
New Jersey
$13.7K +$13.8K +503 New
RA
175
Ransom Advisory
Rhode Island
$13.6K +$13.7K +500 New
5 6
7
8 9

BAB Hedge Fund Activity: Q4 2025 in Review

197 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Invesco Taxable Municipal Bond ETF (BAB) for Q4 2025, worth a combined $677M — up 20% from $564M a quarter earlier.

Buyers outnumbered sellers: 30 funds opened new BAB positions and 12 closed out — a net gain of 18 holders — while 62 added to existing stakes and 67 trimmed.

The largest buyer was Annex Advisory Services, opening a new position worth an estimated $83.8M. The largest seller was Hershey Financial Advisers, exiting entirely with an estimated $3.53M sold.

  • 197 institutional investors held Invesco Taxable Municipal Bond ETF (BAB) as of Q4 2025, up from 180 in Q3 2025.
  • Funds reported $677M of Invesco Taxable Municipal Bond ETF stock for Q4 2025, up 20% quarter-over-quarter.
  • 30 funds opened new Invesco Taxable Municipal Bond ETF positions in Q4 2025 and 12 closed out, a net change of +18 holders.
  • The largest Invesco Taxable Municipal Bond ETF buyer in Q4 2025 was Annex Advisory Services, an estimated $83.8M added.
  • The largest Invesco Taxable Municipal Bond ETF seller in Q4 2025 was Hershey Financial Advisers, an estimated $3.53M sold.

Based on aggregated 13F filings for Q4 2025.