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Invesco BulletShares 2027 Municipal Bond ETF
BSMR

122 hedge funds and large institutions have $191M invested in Invesco BulletShares 2027 Municipal Bond ETF in 2025 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 71 increasing their positions, 18 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

294% more repeat investments, than reductions

Existing positions increased: 71 | Existing positions reduced: 18

38% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 8

9% more capital invested

Capital invested by funds: $175M → $191M (+$16.2M)

2% more funds holding

Funds holding: 120 → 122 (+2)

1.3% more ownership

Funds ownership: 68.33% → 69.63% (+1.3%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
122
Holders Change
+2
Holders Change %
+1.67%
% of All Funds
1.6%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
11
Increased
71
Reduced
18
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SF
Summit Financial
New Jersey
+$5.06M
2
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
+$2.12M
3
Wells Fargo
Wells Fargo
California
+$1.1M
4
Ameriprise
Ameriprise
Minnesota
+$1.06M
5
S
SignatureFD
Georgia
+$1.06M

Top Sellers

Rank Fund Capital Flow
1
EC
Elequin Capital
New York
-$2.09M
2
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
-$1.06M
3
AI
Atria Investments
North Carolina
-$1.03M
4
FFN
Focus Financial Network
Minnesota
-$661K
5
CA
CGN Advisors
Kansas
-$405K
Name Holding Trade Value Shares
Change 		Change in
Stake
Focus Partners Wealth
26
Focus Partners Wealth
Massachusetts
$2.38M +$274K +11,610 +13%
S
27
SignatureFD
Georgia
$2.07M +$1.06M +44,916 +105%
HighTower Advisors
28
HighTower Advisors
Illinois
$1.84M +$59.8K +2,535 +3%
MML Investors Services
29
MML Investors Services
Massachusetts
$1.7M -$48.1K -2,039 -3%
Stifel Financial
30
Stifel Financial
Missouri
$1.57M +$80.9K +3,430 +5%
CWM
31
Cornerstone Wealth Management
Missouri
$1.55M +$171K +7,239 +12%
PWM
32
Paulson Wealth Management
Illinois
$1.35M +$365K +15,481 +37%
Ameriprise
33
Ameriprise
Minnesota
$1.33M +$1.06M +44,983 +401%
EH
34
Equitable Holdings
New York
$1.27M +$95.9K +4,066 +8%
Royal Bank of Canada
35
Royal Bank of Canada
Ontario, Canada
$1.2M +$18K +764 +2%
FNB
36
Farmers National Bank
Kentucky
$1.17M +$30.5K +1,294 +3%
FF
37
Farnam Financial
Arizona
$1.12M – – –
CAPTRUST Financial Advisors
38
CAPTRUST Financial Advisors
North Carolina
$1.11M +$221K +9,355 +25%
PFG
39
PAX Financial Group
Texas
$1.11M -$32K -1,358 -3%
Brown Advisory
40
Brown Advisory
Maryland
$1.1M – – –
CAM
41
Clark Asset Management
New Hampshire
$1.08M +$390K +16,530 +57%
ACM
42
AlphaStar Capital Management
North Carolina
$1.04M -$53.9K -2,286 -5%
APA
43
Astoria Portfolio Advisors
New York
$1.03M -$17.5K -741 -2%
ACA
44
Aptus Capital Advisors
Alabama
$1.02M +$7.03K +298 +0.7%
KAS
45
Kestra Advisory Services
Texas
$991K +$2.85K +121 +0.3%
Jones Financial Companies
46
Jones Financial Companies
Missouri
$990K +$580K +24,595 +143%
MWM
47
Meridian Wealth Management
Kentucky
$922K +$126K +5,321 +16%
Northwestern Mutual Wealth Management
48
Northwestern Mutual Wealth Management
Wisconsin
$905K +$265K +11,222 +42%
SVWA
49
Sarver Vrooman Wealth Advisors
Missouri
$846K +$13.7K +580 +2%
FCAS
50
First Command Advisory Services
Texas
$832K +$19.4K +824 +2%
1
2
3 4 5

BSMR Hedge Fund Activity: Q3 2025 in Review

122 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2027 Municipal Bond ETF (BSMR) for Q3 2025, worth a combined $191M — up 9.2% from $175M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new BSMR positions and 8 closed out — a net gain of 3 holders — while 71 added to existing stakes and 18 trimmed.

The largest buyer was Summit Financial, opening a new position worth an estimated $5.06M. The largest seller was Elequin Capital, exiting entirely with an estimated $2.09M sold.

  • 122 institutional investors held Invesco BulletShares 2027 Municipal Bond ETF (BSMR) as of Q3 2025, up from 120 in Q2 2025.
  • Funds reported $191M of Invesco BulletShares 2027 Municipal Bond ETF stock for Q3 2025, up 9.2% quarter-over-quarter.
  • 11 funds opened new Invesco BulletShares 2027 Municipal Bond ETF positions in Q3 2025 and 8 closed out, a net change of +3 holders.
  • The largest Invesco BulletShares 2027 Municipal Bond ETF buyer in Q3 2025 was Summit Financial, an estimated $5.06M added.
  • The largest Invesco BulletShares 2027 Municipal Bond ETF seller in Q3 2025 was Elequin Capital, an estimated $2.09M sold.

Based on aggregated 13F filings for Q3 2025.