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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
CMBA
51
C.M. Bidwell & Associates
Hawaii
$789K +$62K +2,559 +8%
OIA
52
OneDigital Investment Advisors
Kansas
$754K +$171K +7,052 +29%
MCM
53
Mattern Capital Management
Colorado
$740K -$50K -2,064 -6%
WN
54
Williams & Novak
California
$717K -$131K -5,400 -15%
DCM
55
Dimension Capital Management
Florida
$626K – – –
OFG
56
Omega Financial Group
California
$619K +$3.88K +160 +0.6%
AFGAS
57
Allegiance Financial Group Advisory Services
Virginia
$618K +$627K +25,870 New
APP
58
Avantax Planning Partners
Iowa
$609K +$259K +10,699 +72%
Creative Planning
59
Creative Planning
Kansas
$607K +$1.21K +50 +0.2%
FTUS
60
Flow Traders U.S.
New York
$563K -$201K -8,286 -26%
EH
61
Equitable Holdings
New York
$562K +$50K +2,064 +10%
JSW
62
Journey Strategic Wealth
New Jersey
$560K +$9.84K +406 +2%
NAS
63
NWF Advisory Services
California
$553K – – –
Fisher Asset Management
64
Fisher Asset Management
Washington
$552K +$26.8K +1,108 +5%
Osaic Holdings
65
Osaic Holdings
Arizona
$546K -$108K -4,462 -16%
SM
66
Sweeney & Michel
California
$485K – – –
BCI
67
Brinker Capital Investments
Pennsylvania
$483K – – –
Cerity Partners
68
Cerity Partners
New York
$481K -$421K -17,388 -46%
HIF
69
Hill Island Financial
Michigan
$478K – – –
MML Investors Services
70
MML Investors Services
Massachusetts
$478K -$15.1K -625 -3%
BPWM
71
BCS Private Wealth Management
New Jersey
$477K – – –
NA
72
Nautilus Advisors
California
$476K -$24.6K -1,015 -5%
WSWA
73
Warren Street Wealth Advisors
California
$467K -$5.77K -238 -1%
GWS
74
Greykasell Wealth Strategies
California
$409K +$194 +8 +0%
Royal Bank of Canada
75
Royal Bank of Canada
Ontario, Canada
$373K +$15.4K +635 +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.