Invesco California AMT-Free Municipal Bond
PWZ • ARCA
Invesco California AMT-Free Municipal Bond is an exchange-traded fund on ARCA. As of Q3 2025, 117 institutional investors hold shares in this ETF, with total holdings valued at $834.7M. Wealthfront Advisers LLC is the largest holder with a position valued at $452.2M.
Overview
Overview of institutional ownership in PWZ as of Q3 2025
All Institutions
- Institutions
- 117
- Value Held
- $834.7M
- Shares Held
- 34.9M
- Avg Position
- $7.1M
- Median Position
- $594.2K
Hedge Funds
- Hedge Funds
- 5
- Value Held
- $7.0M
- Shares Held
- 294.5K
- Avg Position
- $1.4M
- Median Position
- $915.4K
Biggest Investors
Institutions with the largest positions in PWZ as of Q3 2025
| Institution | Position Value |
|---|---|
 Wealthfront Advisers LLC RIA/Wealth | $452.2M 1.06% of portfolio |
 MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth | $53.6M 0.09% of portfolio |
$41.4M 1.42% of portfolio | |
 Miracle Mile Advisors, LLC RIA/Wealth | $32.8M 0.50% of portfolio |
 Stratos Wealth Partners, LTD. RIA/Wealth | $31.2M 0.37% of portfolio |
 SYON CAPITAL LLC RIA/Wealth | $31.0M 1.67% of portfolio |
 BANK OF AMERICA CORP /DE/ Institution | $23.6M 0.00% of portfolio |
L LPL Financial LLC Institution | $14.1M 0.00% of portfolio |
 MORGAN STANLEY RIA/Wealth | $13.3M 0.00% of portfolio |
 FIRST FOUNDATION ADVISORS RIA/Wealth | $11.1M 0.41% of portfolio |
Net Capital Flow
Institutional buying and selling activity for PWZ in Q3 2025
- Traded
- +$329.4M
- Buyers
- 60
- Sellers
- 42
- Total Bought
- +$398.1M
- Total Sold
- −$68.7M
- Avg Position
- $6.7M
Biggest Buyers
| Institution | Net Bought |
|---|---|
Wealthfront Advisers LLC RIA/Wealth | +$328.5M +13.7M shares |
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth | +$13.7M +571.7K shares |
+$12.3M +512.9K shares | |
 GOLDMAN SACHS GROUP INC Institution | +$11.1M +462.7K shares |
BANK OF AMERICA CORP /DE/ Institution | +$6.8M +286.2K shares |
G GUGGENHEIM CAPITAL LLC Institution | +$3.9M +164.1K shares |
 RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant | +$3.2M +131.8K shares |
 Elmwood Wealth Management, Inc. RIA/Wealth | +$2.4M +99.3K shares |
 NORTHERN TRUST CORP Institution | +$2.1M +86.3K shares |
 JPMORGAN CHASE & CO Institution | +$1.6M +66.6K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
Miracle Mile Advisors, LLC RIA/Wealth | −$28.6M −1.2M shares |
Stratos Wealth Partners, LTD. RIA/Wealth | −$12.6M −527.5K shares |
FIRST FOUNDATION ADVISORS RIA/Wealth | −$11.7M −489.0K shares |
J JANE STREET GROUP, LLC Institution | −$3.8M −158.2K shares |
MORGAN STANLEY RIA/Wealth | −$1.4M −59.6K shares |
SYON CAPITAL LLC RIA/Wealth | −$1.3M −54.4K shares |
 Hanson McClain, Inc. RIA/Wealth | −$917.9K −38.4K shares |
 Impact Investors, Inc RIA/Wealth | −$910.5K −38.1K shares |
 COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth | −$775.4K −32.4K shares |
 Steel Peak Wealth Management LLC RIA/Wealth | −$660.0K −27.6K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited PWZ in Q3 2025
- New Positions
- 8
- New Value
- $3.5M
- Exited Positions
- 8
- Exited Value
- $1.6M
New Positions
| Institution | Position Value |
|---|---|
NORTHERN TRUST CORP Institution | $2.1M 86.3K shares |
 Savvy Advisors, Inc. RIA/Wealth | $415.1K 17.4K shares |
 NorthRock Partners, LLC RIA/Wealth | $287.7K 12.0K shares |
 Catalytic Wealth RIA, LLC RIA/Wealth | $275.5K 11.5K shares |
 Concurrent Investment Advisors, LLC RIA/Wealth | $248.8K 10.4K shares |
 PRIVATE CLIENT SERVICES, LLC RIA/Wealth | $212.9K 8.9K shares |
 O'SHAUGHNESSY ASSET MANAGEMENT, LLC Long Only Manager | $4.7K 196.0 shares |
B BNP PARIBAS ARBITRAGE, SA Institution | $1.5K 61.0 shares |
Exited Positions
| Institution | Previous Position |
|---|---|
S STIFEL FINANCIAL CORP Long Only Manager | $406.5K 17.4K shares |
 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC Long Only Manager | $265.9K 11.4K shares |
W WCG Wealth Advisors LLC Institution | $261.5K 11.2K shares |
R Rossby Financial, LCC RIA/Wealth | $233.4K 10.0K shares |
 Southland Equity Partners LLC RIA/Wealth | $232.2K 10.0K shares |
 HILL ISLAND FINANCIAL LLC RIA/Wealth | $206.7K 8.9K shares |
S S.A. Mason LLC RIA/Wealth | $30.3K 1.3K shares |
 IFP Advisors, Inc RIA/Wealth | $6.7K 287.0 shares |
Options Activity
Institutions with the largest Call and Put options positions in PWZ as of Q3 2025
- Call Positions
- 1
- Call Value
- -
- Put Positions
- 1
- Put Value
- -
Call Positions
| Institution | Position Value |
|---|---|
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | - - contracts |
Put Positions
| Institution | Position Value |
|---|---|
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | - - contracts |
Most Committed Institutions
Institutions with PWZ as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
SYON CAPITAL LLC RIA/Wealth | 1.67% $31.0M |
1.42% $41.4M | |
Elmwood Wealth Management, Inc. RIA/Wealth | 1.06% $3.0M |
Wealthfront Advisers LLC RIA/Wealth | 1.06% $452.2M |
 Certus Wealth Management, LLC RIA/Wealth | 0.95% $1.6M |
 McNaughton Wealth Management, LLC RIA/Wealth | 0.82% $1.9M |
 SimpliFi, Inc. RIA/Wealth | 0.71% $1.7M |
Impact Investors, Inc RIA/Wealth | 0.68% $1.0M |
W Williams & Novak, LLC Institution | 0.63% $820.5K |
F FIRST AMERICAN TRUST CO Institution | 0.50% $6.8M |
Hedge Fund Spotlight
Discover hedge funds investing in PWZ
CITADEL ADVISORS LLC
Hedge Fund • Multi-Strategy
Portfolio ManagerKenneth Cordele Griffin
- Portfolio Value
- $122.08B
- Positions
- 5,531
- Last Reported
- Q3 2025
Sector Allocation
Position in Invesco California AMT-Free Municipal Bond
- Market Value
- $2.7M
- Shares Held
- 111.0K
- Portfolio Weight
- 0.00%
- Owned Since
- 2024-Q4
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Software - Infrastructure Technology | $2.1B | 1.68% | |
Semiconductors Technology | $1.8B | 1.50% | |
Internet Content & Information Communication Services | $1.4B | 1.18% |
