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Invesco BulletShares 2026 Municipal Bond ETF
BSMQ

140 hedge funds and large institutions have $200M invested in Invesco BulletShares 2026 Municipal Bond ETF in 2025 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 69 increasing their positions, 33 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

109% more repeat investments, than reductions

Existing positions increased: 69 | Existing positions reduced: 33

5% more capital invested

Capital invested by funds: $190M → $200M (+$10.3M)

3.35% more ownership

Funds ownership: 65.44% → 68.79% (+3.4%)

9% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 11

1% less funds holding

Funds holding: 142 → 140 (-2)

Holders
140
Holders Change
-2
Holders Change %
-1.41%
% of All Funds
1.84%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
10
Increased
69
Reduced
33
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
+$7.26M
2
SF
Summit Financial
New Jersey
+$5M
3
Bank of America
Bank of America
North Carolina
+$1.15M
4
Ameriprise
Ameriprise
Minnesota
+$1.09M
5
HBT
Hills Bank & Trust
Iowa
+$1.08M

Top Sellers

Rank Fund Capital Flow
1
CVA
Central Valley Advisors
California
-$3.86M
2
Morgan Stanley
Morgan Stanley
New York
-$3.55M
3
OFS
OneAscent Financial Services
Alabama
-$3.11M
4
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
-$1.27M
5
FFN
Focus Financial Network
Minnesota
-$922K
Name Holding Trade Value Shares
Change 		Change in
Stake
HWM
101
Horizons Wealth Management
North Carolina
$312K – – –
Wealth Enhancement Advisory Services
102
Wealth Enhancement Advisory Services
Minnesota
$312K -$313K -13,270 -50%
SWM
103
Silverlake Wealth Management
Vermont
$309K – – –
MTWM
104
Masso Torrence Wealth Management
New Jersey
$306K – – –
MW
105
Members Wealth
Pennsylvania
$304K +$304K +12,880 New
TCM
106
Tassel Capital Management
North Carolina
$302K -$65.3K -2,769 -18%
OFG
107
Opulen Financial Group
Virginia
$300K +$2.12K +90 +0.7%
PFS
108
Prospera Financial Services
Texas
$287K +$189 +8 +0.1%
CAL
109
Capital Analysts LLC
Pennsylvania
$283K +$252K +10,675 +811%
NPAN
110
Northeast Planning Associates NH
New Hampshire
$262K – – –
DWM
111
Denver Wealth Management
Colorado
$261K -$50.2K -2,131 -16%
DCM
112
Davis Capital Management
Florida
$261K +$260K +11,047 New
ASN
113
Advisory Services Network
Georgia
$259K +$13.4K +569 +5%
EH
114
Equitable Holdings
New York
$258K +$3.21K +136 +1%
Carson Wealth (CWM LLC)
115
Carson Wealth (CWM LLC)
Nebraska
$257K +$1.72K +73 +0.7%
SFG
116
SNS Financial Group
Minnesota
$251K – – –
KBFS
117
Kohmann Bosshard Financial Services
Ohio
$243K – – –
LC
118
Landaas & Company
Wisconsin
$236K – – –
VVP
119
Venture Visionary Partners
Ohio
$235K -$33K -1,400 -12%
SPIA
120
Steward Partners Investment Advisory
New York
$227K +$202K +8,557 +807%
NFG
121
Nations Financial Group
Iowa
$219K +$219K +9,283 New
AWM
122
Axxcess Wealth Management
California
$219K +$6.27K +266 +3%
DAS
123
Diversify Advisory Services
Utah
$218K +$1.49K +63 +0.7%
CA
124
Claro Advisors
Massachusetts
$209K +$208K +8,836 New
BCM
125
Brookstone Capital Management
Illinois
$206K -$18K -762 -8%
3 4
5
6 7

BSMQ Hedge Fund Activity: Q3 2025 in Review

140 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) for Q3 2025, worth a combined $200M — up 5.4% from $190M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of BSMQ and 10 opened new positions — a net loss of 1 holder — while 33 trimmed existing stakes and 69 added.

The largest buyer was Goldman Sachs, opening a new position worth an estimated $7.26M. The largest seller was Central Valley Advisors, cutting an estimated $3.86M.

  • 140 institutional investors held Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) as of Q3 2025, down from 142 in Q2 2025.
  • Funds reported $200M of Invesco BulletShares 2026 Municipal Bond ETF stock for Q3 2025, up 5.4% quarter-over-quarter.
  • 10 funds opened new Invesco BulletShares 2026 Municipal Bond ETF positions in Q3 2025 and 11 closed out, a net change of -1 holder.
  • The largest Invesco BulletShares 2026 Municipal Bond ETF buyer in Q3 2025 was Goldman Sachs, an estimated $7.26M added.
  • The largest Invesco BulletShares 2026 Municipal Bond ETF seller in Q3 2025 was Central Valley Advisors, an estimated $3.86M sold.

Based on aggregated 13F filings for Q3 2025.