Who Owns Invesco California AMT-Free Municipal Bond ETF (PWZ)?Hedge Fund & Institutional Holders

$24.18+0.13 (+0.52%)Financial ServicesNYSE_ARCA

Institutional Holders

50

as of Q4 2025

Total Institutional Value

$4.4539371030670007e+201T

% of Float Held

—

QoQ Change in Holders

+15 / -2

Price History

$22.71$23.34$23.98$24.62$25.25Sep 24Jun 25Mar 26

PWZ — Biggest New Institutional Buyers This Quarter

FundActionShares AddedValue Added
Wealthfront Advisers LLCNew Position+18.4M+$445.4M
Align Financial, LLCNew Position+71K+$71.0M
Composition Wealth, LLCNew Position+1.2M+$28.9M
EP Wealth Advisors, LLCNew Position+738K+$17.0M
Elmwood Wealth Management, Inc.New Position+129K+$3.1M
KEYBANK NATIONAL ASSOCIATION/OHNew Position+107K+$2.6M
Hennion & Walsh Asset Management, Inc.New Position+100K+$2.4M
Chatterton & Associates Inc.New Position+92K+$2.2M
SteelPeak Wealth, LLCNew Position+87K+$2.1M
SimpliFi, Inc.New Position+83K+$2.0M
LODESTAR PRIVATE ASSET MANAGEMENT LLCNew Position+69K+$1.7M
Impact Investors, IncNew Position+45K+$1.1M
COMMONWEALTH EQUITY SERVICES, LLCNew Position+57K+$1.0M
JONES FINANCIAL COMPANIES LLLPNew Position+77K+$1.0M
StoneX Group Inc.New Position+72K+$1.0M

PWZ — Institutions Reducing or Closing Positions

FundActionShares SoldValue Sold
SYON CAPITAL LLCDecreased-8K-$31.0B
BANK OF AMERICA CORP /DE/Decreased-29K-$23.5B
MORGAN STANLEYDecreased-8K-$13.3B
FIRST FOUNDATION ADVISORSDecreased-135K-$11.1B
GOLDMAN SACHS GROUP INCDecreased-417K-$11.1B
JANE STREET GROUP, LLCDecreased-106K-$7.9B
FIRST AMERICAN TRUST, FSBDecreased-20K-$6.8B
WELLS FARGO & COMPANY/MNDecreased-22K-$5.8B
JPMORGAN CHASE & CODecreased-3K-$5.5B
RENAISSANCE TECHNOLOGIES LLCClosed Position-132K-$3.2B
CITADEL ADVISORS LLCDecreased-70K-$2.7B
Allworth Financial LPClosed Position-96K-$2.3B
NORTHERN TRUST CORPDecreased-14K-$2.1B
McNaughton Wealth Management, LLCDecreased-3K-$1.9B
OSAIC HOLDINGS, INC.Decreased-46K-$1.7B

Top Institutional Holders(Q4 2025)

#FundSharesValue% of PortfolioType
1Wealthfront Advisers LLC18,435,141$445.4M1.00%Share
2Align Financial, LLC71,030$71.0M0.04%Share
3MERCER GLOBAL ADVISORS INC /ADV2,795,200$67.0M0.10%Share
4Gerber Kawasaki Wealth & Investment Management1,749,867$42.3M1.48%Share
5Stratos Wealth Partners, LTD.1,317,528$31.8M0.36%Share
6SYON CAPITAL LLC1,288,795$31.0M1.55%Share
7Composition Wealth, LLC1,195,177$28.9M0.41%Share
8EP Wealth Advisors, LLC737,566$17.0M0.09%Share
9BANK OF AMERICA CORP /DE/719,130$17.0M0.00%Share
10GUGGENHEIM CAPITAL LLC654,313$15.0M0.11%Share
11LPL Financial LLC597,009$14.0M0.00%Share
12MORGAN STANLEY548,602$13.0M0.00%Share
13FIRST FOUNDATION ADVISORS307,196$7.4M0.28%Share
14FIRST AMERICAN TRUST, FSB230,431$5.0M0.34%Share
15JPMORGAN CHASE & CO228,973$5.0M0.00%Share
16BANK OF AMERICA CORP /DE/234,488$5.0M0.00%Share
17JANE STREET GROUP, LLC224,813$5.0M0.00%Share
18Elmwood Wealth Management, Inc.128,675$3.1M0.98%Share
19WELLS FARGO & COMPANY/MN140,909$3.0M0.00%Share
20Mariner, LLC131,161$3.0M0.00%Share
21KEYBANK NATIONAL ASSOCIATION/OH107,379$2.6M0.01%Share
22Hennion & Walsh Asset Management, Inc.99,712$2.4M0.08%Share
23Chatterton & Associates Inc.92,381$2.2M1.91%Share
24SteelPeak Wealth, LLC86,874$2.1M0.07%Share
25UBS Group AG84,933$2.1M0.00%Share
26SimpliFi, Inc.82,932$2.0M0.85%Share
27FMR LLC93,117$2.0M0.00%Share
28Farther Finance Advisors, LLC77,883$1.9M0.02%Share
29McNaughton Wealth Management, LLC75,860$1.8M0.75%Share
30LODESTAR PRIVATE ASSET MANAGEMENT LLC69,375$1.7M0.17%Share
31Elequin Capital, LP60,957$1.5M0.11%Share
32Compound Planning, Inc.60,539$1.5M0.04%Share
33Robertson Stephens Wealth Management, LLC52,356$1.3M0.03%Share
34Impact Investors, Inc45,028$1.1M0.75%Share
35FOCUS Wealth Advisors, LLC44,460$1.1M0.50%Share
36Affinity Capital Advisors, LLC41,487$1.0M0.14%Share
37AMERIPRISE FINANCIAL INC68,875$1.0M0.00%Share
38WELLS FARGO & COMPANY/MN78,584$1.0M0.00%Share
39RAYMOND JAMES FINANCIAL INC54,049$1.0M0.00%Share
40SUSQUEHANNA INTERNATIONAL GROUP, LLP45,677$1.0M0.00%Share
41Cambridge Investment Research Advisors, Inc.49,192$1.0M0.00%Share
42GOLDMAN SACHS GROUP INC45,193$1.0M0.00%Share
43COMMONWEALTH EQUITY SERVICES, LLC56,788$1.0M0.00%Share
44JONES FINANCIAL COMPANIES LLLP76,971$1.0M0.00%Share
45NORTHERN TRUST CORP72,628$1.0M0.00%Share
46HighTower Advisors, LLC81,381$1.0M0.00%Share
47Prospera Financial Services Inc41,555$1.0M0.02%Share
48StoneX Group Inc.71,743$1.0M0.04%Share
49Atlas Legacy Advisors, LLC37,418$904K0.16%Share
50Williams & Novak, LLC35,300$852K0.64%Share

PWZ Institutional Ownership History

QuarterHoldersTotal ValueChange
Q4 2025127$887.6M+45
Q3 202582$316.6B-21
Q2 2025103$518.2B-16
Q1 2025119$477.8B+25
Q4 202494$106.7T+20
Q3 202474$296.3T+0
Q2 202474$515.1T+13
Q1 202461$208.6T—

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As of Q4 2025, 50 institutional investors hold PWZ (Invesco California AMT-Free Municipal Bond ETF). The largest holder is Wealthfront Advisers LLC with $445.4M in shares. This quarter, 15 institutions opened new positions and 2 closed their positions.

Frequently Asked Questions

How many hedge funds own PWZ?

As of Q4 2025, 50 institutional investors report holding PWZ (Invesco California AMT-Free Municipal Bond ETF) in their 13F filings.

Who is the largest institutional holder of PWZ?

The largest institutional holder of PWZ is Wealthfront Advisers LLC with $445.4M in shares.

Is institutional ownership of PWZ increasing or decreasing?

This quarter, 15 institutions opened new positions in PWZ and 2 closed their positions.