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Invesco BulletShares 2026 Municipal Bond ETF
BSMQ

142 hedge funds and large institutions have $190M invested in Invesco BulletShares 2026 Municipal Bond ETF in 2025 Q2 according to their latest regulatory filings, with 15 funds opening new positions, 60 increasing their positions, 41 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

88% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 8

46% more repeat investments, than reductions

Existing positions increased: 60 | Existing positions reduced: 41

3% more funds holding

Funds holding: 138 → 142 (+4)

1% more capital invested

Capital invested by funds: $188M → $190M (+$2.13M)

4.15% less ownership

Funds ownership: 69.58% → 65.44% (-4.1%)

Holders
142
Holders Change
+4
Holders Change %
+2.9%
% of All Funds
1.87%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
15
Increased
60
Reduced
41
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
+$1.83M
2
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$1.26M
3
Bank of America
Bank of America
North Carolina
+$1.1M
4
MA
MONECO Advisors
Connecticut
+$948K
5
IWC
Integrated Wealth Concepts
Massachusetts
+$859K

Top Sellers

Rank Fund Capital Flow
1
AI
Atria Investments
North Carolina
-$2.2M
2
SA
Sanctuary Advisors
Indiana
-$2.17M
3
Morgan Stanley
Morgan Stanley
New York
-$1.07M
4
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$970K
5
FFN
Focus Financial Network
Minnesota
-$929K
Name Holding Trade Value Shares
Change 		Change in
Stake
MML Investors Services
26
MML Investors Services
Massachusetts
$1.93M +$324K +13,795 +20%
Northwestern Mutual Wealth Management
27
Northwestern Mutual Wealth Management
Wisconsin
$1.87M -$99.4K -4,236 -5%
HBT
28
Hills Bank & Trust
Iowa
$1.84M +$59.9K +2,554 +3%
LPT
29
Legacy Private Trust
Wisconsin
$1.74M +$218K +9,301 +14%
Thrivent Financial for Lutherans
30
Thrivent Financial for Lutherans
Minnesota
$1.59M +$1.26M +53,923 +396%
RCA
31
Resonant Capital Advisors
Wisconsin
$1.54M -$47.3K -2,017 -3%
FNB
32
Farmers National Bank
Kentucky
$1.49M +$26.9K +1,148 +2%
ACA
33
Aptus Capital Advisors
Alabama
$1.43M +$109K +4,635 +8%
FCAS
34
First Command Advisory Services
Texas
$1.36M +$7.53K +321 +0.6%
Stifel Financial
35
Stifel Financial
Missouri
$1.35M +$178K +7,580 +15%
FF
36
Farnam Financial
Arizona
$1.33M – – –
CWM
37
Cornerstone Wealth Management
Missouri
$1.32M +$236K +10,050 +22%
KCM
38
Kathmere Capital Management
Pennsylvania
$1.31M +$787K +33,550 +151%
PFG
39
PAX Financial Group
Texas
$1.14M -$164K -6,973 -13%
ACM
40
AlphaStar Capital Management
North Carolina
$1.09M +$137K +5,848 +14%
VAMG
41
Voisard Asset Management Group
Michigan
$1.04M +$133K +5,650 +15%
S
42
SignatureFD
Georgia
$981K – – –
PWM
43
Paulson Wealth Management
Illinois
$945K -$104K -4,417 -10%
FFN
44
Focus Financial Network
Minnesota
$922K -$929K -39,613 -50%
SPA
45
Sentinel Pension Advisors
Massachusetts
$894K -$18.5K -789 -2%
APA
46
Astoria Portfolio Advisors
New York
$861K -$256K -10,898 -23%
HighTower Advisors
47
HighTower Advisors
Illinois
$835K +$275K +11,715 +49%
OIA
48
OneDigital Investment Advisors
Kansas
$822K +$19.9K +848 +2%
CA
49
CGN Advisors
Kansas
$814K -$562K -23,940 -41%
Brown Advisory
50
Brown Advisory
Maryland
$810K – – –
1
2
3 4 5

BSMQ Hedge Fund Activity: Q2 2025 in Review

142 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) for Q2 2025, worth a combined $190M — up 1.1% from $188M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new BSMQ positions and 8 closed out — a net gain of 7 holders — while 60 added to existing stakes and 41 trimmed.

The largest buyer was LPL Financial, adding an estimated $1.83M. The largest seller was Atria Investments, exiting entirely with an estimated $2.2M sold.

  • 142 institutional investors held Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) as of Q2 2025, up from 138 in Q1 2025.
  • Funds reported $190M of Invesco BulletShares 2026 Municipal Bond ETF stock for Q2 2025, up 1.1% quarter-over-quarter.
  • 15 funds opened new Invesco BulletShares 2026 Municipal Bond ETF positions in Q2 2025 and 8 closed out, a net change of +7 holders.
  • The largest Invesco BulletShares 2026 Municipal Bond ETF buyer in Q2 2025 was LPL Financial, an estimated $1.83M added.
  • The largest Invesco BulletShares 2026 Municipal Bond ETF seller in Q2 2025 was Atria Investments, an estimated $2.2M sold.

Based on aggregated 13F filings for Q2 2025.