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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
ACA
126
Aptus Capital Advisors
Alabama
$406 +$412 +17 New
SAM
127
Smartleaf Asset Management
Massachusetts
$24 – – –
HWAM
128
Hennion & Walsh Asset Management
New Jersey
– -$2.41M -99,712 Closed
Northern Trust
129
Northern Trust
Illinois
– -$1.75M -72,628 Closed
SG
130
StoneX Group
New York
– -$1.73M -71,743 Closed
EC
131
Elequin Capital
New York
– -$1.47M -60,957 Closed
Goldman Sachs
132
Goldman Sachs
New York
– -$1.09M -45,193 Closed
Citadel Advisors
133
Citadel Advisors
Florida
– -$998K -41,304 Closed
FA
134
FF Advisors
California
– -$628K -25,990 Closed
AWM
135
Axxcess Wealth Management
California
– -$592K -24,488 Closed
WPC
136
Wedmont Private Capital
Pennsylvania
– -$502K -20,689 Closed
GI
137
GAMMA Investing
California
– -$233K -9,642 Closed
BZWA
138
Blue Zone Wealth Advisors
California
– -$229K -9,459 Closed
HF
139
HRT Financial
New York
– -$211K -8,750 Closed
EA
140
Eclectic Associates
California
– -$202K -8,381 Closed
TRCT
141
Tower Research Capital (TRC)
New York
– -$163K -6,734 Closed
NL
142
Navalign LLC
California
– -$26.8K -1,110 Closed
AC
143
AlphaCore Capital
California
– -$9.63K -398 Closed
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.