Invesco California AMT-Free Municipal Bond ETF
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.
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%)
6% less capital invested
Capital invested by funds: $852M → $803M (-$49.1M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$4.91M |
| 2 |
GKWIM
Gerber Kawasaki Wealth & Investment Management
Santa Monica,
California
|
+$3.95M |
| 3 |
BPA
Beacon Pointe Advisors
Newport Beach,
California
|
+$3.75M |
| 4 |
RSWM
Robertson Stephens Wealth Management
San Francisco,
California
|
+$3.55M |
| 5 |
Mercer Global Advisors
Denver,
Colorado
|
+$3.49M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SWP
Stratos Wealth Partners
Beachwood,
Ohio
|
-$31.7M |
| 2 |
Wealthfront Advisers
Palo Alto,
California
|
-$24.8M |
| 3 |
Jane Street
New York
|
-$3.35M |
| 4 |
HWAM
Hennion & Walsh Asset Management
Parsippany,
New Jersey
|
-$2.41M |
| 5 |
FAT
First American Trust
Santa Ana,
California
|
-$2.1M |
PWZ Hedge Fund Activity: Q1 2026 in Review
127 of the 8,187 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 5.8% from $852M 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 5.8% 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.