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Invesco California AMT-Free Municipal Bond ETF
PWZ

127 hedge funds and large institutions have $803M invested in Invesco California AMT-Free Municipal Bond ETF in 2026 Q1 according to their latest regulatory filings, with 16 funds opening new positions, 47 increasing their positions, 40 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

18% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 40

0% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 16

1% less funds holding

Funds holding: 128 → 127 (-1)

3.1% less ownership

Funds ownership: 78.14% → 75.04% (-3.1%)

13% less capital invested

Capital invested by funds: $923M → $803M (-$120M)

Holders
127
Holders Change
-1
Holders Change %
-0.78%
% of All Funds
1.56%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
16
Increased
47
Reduced
40
Closed
16
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
GC
Guggenheim Capital
Illinois
+$4.91M
2
GKWIM
Gerber Kawasaki Wealth & Investment Management
California
+$3.95M
3
BPA
Beacon Pointe Advisors
California
+$3.75M
4
RSWM
Robertson Stephens Wealth Management
California
+$3.55M
5
Mercer Global Advisors
Mercer Global Advisors
Colorado
+$3.49M

Top Sellers

1
SWP
Stratos Wealth Partners
Ohio
-$31.7M
2
Wealthfront Advisers
Wealthfront Advisers
California
-$24.8M
3
Jane Street
Jane Street
New York
-$3.35M
4
HWAM
Hennion & Walsh Asset Management
New Jersey
-$2.41M
5
FAT
First American Trust
California
-$2.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
Wealthfront Advisers
1
Wealthfront Advisers
California
$416M -$24.8M -1,024,382 -6%
Mercer Global Advisors
2
Mercer Global Advisors
Colorado
$70.2M +$3.49M +144,192 +5%
GKWIM
3
Gerber Kawasaki Wealth & Investment Management
California
$45.7M +$3.95M +163,109 +9%
MMA
4
Miracle Mile Advisors
California
$29.6M +$1.05M +43,337 +4%
SC
5
Syon Capital
California
$28.8M -$2.03M -83,740 -6%
Bank of America
6
Bank of America
North Carolina
$25.1M +$2.35M +96,820 +10%
GC
7
Guggenheim Capital
Illinois
$20.5M +$4.91M +202,648 +31%
EWA
8
EP Wealth Advisors
California
$17.9M +$339K +13,992 +2%
LPL Financial
9
LPL Financial
California
$15.1M +$893K +36,860 +6%
Morgan Stanley
10
Morgan Stanley
New York
$14M +$957K +39,519 +7%
FFA
11
First Foundation Advisors
California
$9.05M +$1.22M +50,378 +15%
PFA
12
Pure Financial Advisors
California
$6.48M -$506K -20,895 -7%
Wells Fargo
13
Wells Fargo
California
$5.59M +$361K +14,898 +7%
JP Morgan Chase
14
JP Morgan Chase
New York
$5.23M -$229K -9,460 -4%
RSWM
15
Robertson Stephens Wealth Management
California
$4.75M +$3.55M +146,509 +280%
FAT
16
First American Trust
California
$4.23M -$2.1M -86,593 -33%
BPA
17
Beacon Pointe Advisors
California
$3.7M +$3.75M +154,995 New
EWM
18
Elmwood Wealth Management
California
$3.39M +$321K +13,237 +10%
Mariner
19
Mariner
Kansas
$3.36M -$568K -23,430 -14%
CA
20
Chatterton & Associates
California
$3.21M +$970K +40,031 +43%
HighTower Advisors
21
HighTower Advisors
Illinois
$2.96M +$1.03M +42,489 +52%
KeyBank National Association
22
KeyBank National Association
Ohio
$2.94M +$378K +15,606 +15%
Jones Financial Companies
23
Jones Financial Companies
Missouri
$2.85M +$1.05M +43,159 +56%
IWC
24
Integrated Wealth Concepts
Massachusetts
$2.38M +$1.5M +61,973 +164%
Fidelity Investments
25
Fidelity Investments
Massachusetts
$2.21M -$8.6K -355 -0.4%
1
2 3 4 5

PWZ Hedge Fund Activity: Q1 2026 in Review

127 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Invesco California AMT-Free Municipal Bond ETF (PWZ) for Q1 2026, worth a combined $803M — down 13% from $923M a quarter earlier.

Fund positioning in PWZ was balanced in Q1 2026: 16 funds opened new positions, 16 closed out, 47 added to existing stakes and 40 trimmed.

The largest buyer was Guggenheim Capital, adding an estimated $4.91M. The largest seller was Stratos Wealth Partners, cutting an estimated $31.7M.

  • 127 institutional investors held Invesco California AMT-Free Municipal Bond ETF (PWZ) as of Q1 2026, down from 128 in Q4 2025.
  • Funds reported $803M of Invesco California AMT-Free Municipal Bond ETF stock for Q1 2026, down 13% quarter-over-quarter.
  • 16 funds opened new Invesco California AMT-Free Municipal Bond ETF positions in Q1 2026 and 16 closed out, a net change of 0 holders.
  • The largest Invesco California AMT-Free Municipal Bond ETF buyer in Q1 2026 was Guggenheim Capital, an estimated $4.91M added.
  • The largest Invesco California AMT-Free Municipal Bond ETF seller in Q1 2026 was Stratos Wealth Partners, an estimated $31.7M sold.

Based on aggregated 13F filings for Q1 2026.