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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
AC
76
Apella Capital
Connecticut
$363K – – –
Betterment LLC
77
Betterment LLC
New York
$338K -$945 -39 -0.3%
WA
78
Waddell & Associates
Tennessee
$337K – – –
AssetMark Inc
79
AssetMark Inc
California
$336K +$1.5K +62 +0.4%
VT
80
Vise Technologies
New York
$330K – – –
SAI
81
Savvy Advisors Inc
New York
$324K -$41.6K -1,717 -11%
WIM
82
WealthPlan Investment Management
Nebraska
$315K -$108K -4,451 -25%
CC
83
Climber Capital
Switzerland
$301K -$91.5K -3,775 -23%
TF
84
TME Financial
California
$293K +$27.3K +1,127 +10%
NP
85
NorthRock Partners
Minnesota
$287K – – –
SPIA
86
Steward Partners Investment Advisory
New York
$278K +$33.9K +1,400 +14%
LWP
87
Laurel Wealth Planning
Minnesota
$277K – – –
Stifel Financial
88
Stifel Financial
Missouri
$272K +$276K +11,386 New
CSIC
89
Clifford Swan Investment Counsel
California
$264K – – –
AAS
90
Ameritas Advisory Services
Nebraska
$257K +$261K +10,754 New
CIA
91
Concurrent Investment Advisors
Florida
$248K – – –
TPWA
92
Twin Peaks Wealth Advisors
California
$241K – – –
GWP
93
Gateway Wealth Partners
Wisconsin
$239K +$242K +10,000 New
RF
94
Rossby Financial
Florida
$237K – – –
FF
95
Foronjy Financial
California
$234K -$3.54K -146 -1%
SWP
96
Stratos Wealth Partners
Ohio
$224K -$31.7M -1,308,137 -99%
APFP
97
Action Point Financial Planning
Michigan
$224K +$227K +9,384 New
WS
98
Wedbush Securities
California
$223K +$227K +9,350 New
CBU
99
CIBC Bancorp USA
Illinois
$221K +$224K +9,239 New
IWM
100
IHT Wealth Management
Illinois
$216K +$219K +9,030 New
2 3
4
5 6

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.