We are live on ! Find out more
BSMS icon

Invesco BulletShares 2028 Municipal Bond ETF
BSMS

94 hedge funds and large institutions have $125M invested in Invesco BulletShares 2028 Municipal Bond ETF in 2025 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 44 increasing their positions, 15 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

193% more repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 15

44% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 9

12% more capital invested

Capital invested by funds: $111M → $125M (+$13.8M)

1% more funds holding

Funds holding: 93 → 94 (+1)

2.58% less ownership

Funds ownership: 66.48% → 63.9% (-2.6%)

Holders
94
Holders Change
+1
Holders Change %
+1.08%
% of All Funds
1.24%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
13
Increased
44
Reduced
15
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KCM
Kathmere Capital Management
Pennsylvania
+$5.8M
2
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
+$1.15M
3
MWM
Modern Wealth Management
Kansas
+$1.12M
4
Morgan Stanley
Morgan Stanley
New York
+$1.04M
5
Jane Street
Jane Street
New York
+$956K

Top Sellers

Rank Fund Capital Flow
1
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
-$1.69M
2
Goldman Sachs
Goldman Sachs
New York
-$709K
3
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$612K
4
CA
CGN Advisors
Kansas
-$569K
5
HGA
Hobbs Group Advisors
South Carolina
-$372K
Name Holding Trade Value Shares
Change 		Change in
Stake
Stifel Financial
26
Stifel Financial
Missouri
$1.3M +$178K +7,732 +16%
HighTower Advisors
27
HighTower Advisors
Illinois
$1.23M +$97.8K +4,246 +9%
FNB
28
Farmers National Bank
Kentucky
$1.18M +$40.7K +1,766 +4%
MWM
29
Modern Wealth Management
Kansas
$1.13M +$1.12M +48,638 New
ACM
30
AlphaStar Capital Management
North Carolina
$1.1M +$138K +6,007 +15%
Brown Advisory
31
Brown Advisory
Maryland
$1.09M – – –
CAM
32
Clark Asset Management
New Hampshire
$882K +$132K +5,713 +18%
S
33
SignatureFD
Georgia
$847K – – –
Northwestern Mutual Wealth Management
34
Northwestern Mutual Wealth Management
Wisconsin
$784K -$113K -4,889 -13%
CAPTRUST Financial Advisors
35
CAPTRUST Financial Advisors
North Carolina
$737K +$386K +16,749 +112%
CA
36
CGN Advisors
Kansas
$714K -$569K -24,711 -45%
WAP
37
Wealthcare Advisory Partners
Pennsylvania
$686K +$25.1K +1,090 +4%
KOC
38
Koss-Olinger Consulting
Florida
$650K +$645K +27,984 New
SPA
39
Sentinel Pension Advisors
Massachusetts
$630K -$19.4K -844 -3%
PWM
40
Paulson Wealth Management
Illinois
$611K -$66.9K -2,904 -10%
Jones Financial Companies
41
Jones Financial Companies
Missouri
$554K +$202K +8,778 +58%
AA
42
Addison Advisors
Vermont
$554K +$3.92K +170 +0.7%
SA
43
Sanctuary Advisors
Indiana
$531K +$140K +6,093 +36%
MWM
44
Meridian Wealth Management
Kentucky
$524K – – –
FCAS
45
First Command Advisory Services
Texas
$524K +$23.5K +1,021 +5%
SG
46
StoneX Group
New York
$519K -$133K -5,790 -21%
DA
47
Dover Advisors
Virginia
$509K – – –
WA
48
WESPAC Advisors
California
$503K +$200K +8,695 +67%
MWM
49
Marietta Wealth Management
Georgia
$501K +$497K +21,583 New
AWM
50
Avior Wealth Management
Nebraska
$477K +$46.1K +2,000 +11%
1
2
3 4 5

BSMS Hedge Fund Activity: Q2 2025 in Review

94 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2028 Municipal Bond ETF (BSMS) for Q2 2025, worth a combined $125M — up 12% from $111M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new BSMS positions and 9 closed out — a net gain of 4 holders — while 44 added to existing stakes and 15 trimmed.

The largest buyer was Kathmere Capital Management, opening a new position worth an estimated $5.8M. The largest seller was Toronto Dominion Bank, exiting entirely with an estimated $1.69M sold.

  • 94 institutional investors held Invesco BulletShares 2028 Municipal Bond ETF (BSMS) as of Q2 2025, up from 93 in Q1 2025.
  • Funds reported $125M of Invesco BulletShares 2028 Municipal Bond ETF stock for Q2 2025, up 12% quarter-over-quarter.
  • 13 funds opened new Invesco BulletShares 2028 Municipal Bond ETF positions in Q2 2025 and 9 closed out, a net change of +4 holders.
  • The largest Invesco BulletShares 2028 Municipal Bond ETF buyer in Q2 2025 was Kathmere Capital Management, an estimated $5.8M added.
  • The largest Invesco BulletShares 2028 Municipal Bond ETF seller in Q2 2025 was Toronto Dominion Bank, an estimated $1.69M sold.

Based on aggregated 13F filings for Q2 2025.