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

$23.30+0.07 (+0.32%)Financial ServicesNYSE_ARCA

Institutional Holders

50

as of Q4 2025

Total Institutional Value

$1.0690001300001002e+221T

% of Float Held

—

QoQ Change in Holders

+15 / -2

Price History

$21.91$22.50$23.09$23.67$24.26Sep 24Jun 25Mar 26

PZA — Biggest New Institutional Buyers This Quarter

FundActionShares AddedValue Added
ENVESTNET ASSET MANAGEMENT INCNew Position+2.6M+$59.0M
Bank of New York Mellon CorpNew Position+2.5M+$57.0M
EP Wealth Advisors, LLCNew Position+1.6M+$37.0M
Composition Wealth, LLCNew Position+1.4M+$32.3M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLCNew Position+1.1M+$24.0M
Sanctuary Advisors, LLCNew Position+683K+$15.7M
CITADEL ADVISORS LLCNew Position+658K+$15.0M
Avidian Wealth Enterprises, LLCNew Position+487K+$11.3M
SOFI WEALTH, LLCNew Position+480K+$11.1M
COMMONWEALTH EQUITY SERVICES, LLCNew Position+393K+$9.0M
Stewardship Advisors, LLCNew Position+247K+$5.7M
WEALTH ENHANCEMENT ADVISORY SERVICES, LLCNew Position+221K+$5.1M
1900 WEALTH MANAGEMENT LLCNew Position+190K+$4.4M
TRUIST FINANCIAL CORPNew Position+157K+$3.6M
Connecticut Capital Management Group, LLCNew Position+153K+$3.5M

PZA — Institutions Reducing or Closing Positions

FundActionShares SoldValue Sold
BANK OF AMERICA CORP /DE/Decreased-759K-$1.2T
WELLINGTON MANAGEMENT GROUP LLPClosed Position-5.1M-$117.2B
Richard Bernstein Advisors LLCDecreased-30K-$71.2B
LPL Financial LLCDecreased-22K-$60.9B
MORGAN STANLEYDecreased-345K-$51.8B
UBS Group AGDecreased-7K-$43.8B
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CODecreased-416K-$36.2B
AMERIPRISE FINANCIAL INCDecreased-52K-$20.1B
Cetera Investment AdvisersDecreased-16K-$16.6B
RAYMOND JAMES FINANCIAL INCDecreased-4K-$14.0B
OSAIC HOLDINGS, INC.Decreased-105K-$13.0B
RENAISSANCE TECHNOLOGIES LLCDecreased-142K-$10.0B
Rockefeller Capital Management L.P.Decreased-23K-$9.2B
Elequin Capital, LPClosed Position-400K-$9.2B
ASSETMARK, INCDecreased-719-$8.2B

Top Institutional Holders(Q4 2025)

#FundSharesValue% of PortfolioType
1BANK OF AMERICA CORP /DE/46,130,116$1.1B0.08%Share
2BANK OF AMERICA CORP /DE/5,635,608$130.0M0.01%Share
3CLIFTONLARSONALLEN WEALTH ADVISORS, LLC4,321,626$100.2M1.51%Share
4Richard Bernstein Advisors LLC3,040,662$70.5M2.07%Share
5NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO1,156,405$68.6M0.04%Share
6LPL Financial LLC2,618,017$60.0M0.02%Share
7ENVESTNET ASSET MANAGEMENT INC2,565,135$59.0M0.02%Share
8JANE STREET GROUP, LLC2,447,309$56.0M0.01%Share
9Bank of New York Mellon Corp2,114,703$49.0M0.01%Share
10UBS Group AG1,889,016$43.8M0.01%Share
11MORGAN STANLEY1,894,254$43.0M0.00%Share
12EP Wealth Advisors, LLC1,602,126$37.0M0.19%Share
13Composition Wealth, LLC1,394,378$32.3M0.46%Share
14UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC1,076,590$24.0M0.01%Share
15STIFEL FINANCIAL CORP859,305$19.0M0.02%Share
16WELLS FARGO & COMPANY/MN853,895$19.0M0.00%Share
17AMERIPRISE FINANCIAL INC787,553$18.0M0.00%Share
18Cetera Investment Advisers704,469$16.0M0.02%Share
19Gerber Kawasaki Wealth & Investment Management679,313$15.8M0.55%Share
20CITADEL ADVISORS LLC658,401$15.0M0.00%Share
21Stratos Wealth Partners, LTD.607,887$14.1M0.16%Share
22JPMORGAN CHASE & CO625,349$14.0M0.00%Share
23Sanctuary Advisors, LLC507,004$11.8M0.06%Share
24Allworth Financial LP492,908$11.4M0.05%Share
25Avidian Wealth Enterprises, LLC486,734$11.3M0.41%Share
26SOFI WEALTH, LLC480,472$11.1M0.56%Share
27OSAIC HOLDINGS, INC.437,523$10.0M0.01%Share
28BANK OF AMERICA CORP /DE/417,572$9.0M0.00%Share
29IHT Wealth Management, LLC402,908$9.0M0.22%Share
30COMMONWEALTH EQUITY SERVICES, LLC393,122$9.0M0.01%Share
31ASSETMARK, INC356,463$8.3M0.02%Share
32Bank of New York Mellon Corp351,166$8.0M0.00%Share
33US BANCORP \DE\316,015$7.3M0.01%Share
34Goodman Advisory Group, LLC321,591$7.0M1.72%Share
35RAYMOND JAMES FINANCIAL INC311,992$7.0M0.00%Share
36WELLS FARGO & COMPANY/MN321,003$7.0M0.00%Share
37PNC FINANCIAL SERVICES GROUP, INC.264,849$6.0M0.00%Share
38MML INVESTORS SERVICES, LLC292,528$6.0M0.01%Share
39Rockefeller Capital Management L.P.274,232$6.0M0.01%Share
40RENAISSANCE TECHNOLOGIES LLC288,900$6.0M0.01%Share
41ROYAL BANK OF CANADA301,354$6.0M0.00%Share
42Tortoise Investment Management, LLC258,557$6.0M0.53%Share
43Stewardship Advisors, LLC247,064$5.7M1.32%Share
44ANDERSON HOAGLAND & CO244,125$5.7M0.49%Share
45COMERICA BANK228,194$5.3M0.02%Share
46WEALTH ENHANCEMENT ADVISORY SERVICES, LLC220,694$5.1M0.01%Share
47TRAPHAGEN INVESTMENT ADVISORS LLC216,475$5.0M0.41%Share
48RAYMOND JAMES FINANCIAL INC226,801$5.0M0.00%Share
49TRUSTMARK BANK TRUST DEPARTMENT220,125$5.0M0.32%Share
50Integrated Wealth Concepts LLC221,572$5.0M0.06%Share

PZA Institutional Ownership History

QuarterHoldersTotal ValueChange
Q4 2025264$2.3B+108
Q3 2025156$2.1T-52
Q2 2025208$1.8T-4
Q1 2025212$2.0T+10
Q4 2024202$210.6T+37
Q3 2024165$1651.9T+4
Q2 2024161$1596.0T+19
Q1 2024142$1518.8T—

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As of Q4 2025, 50 institutional investors hold PZA (Invesco National AMT-Free Municipal Bond ETF). The largest holder is BANK OF AMERICA CORP /DE/ with $1.1B in shares. This quarter, 15 institutions opened new positions and 2 closed their positions.

Frequently Asked Questions

How many hedge funds own PZA?

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

Who is the largest institutional holder of PZA?

The largest institutional holder of PZA is BANK OF AMERICA CORP /DE/ with $1.1B in shares.

Is institutional ownership of PZA increasing or decreasing?

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