Invesco S&P 500 Low Volatility

SPLV • ARCA

Invesco S&P 500 Low Volatility is an exchange-traded fund on ARCA. As of Q3 2025, 720 institutional investors hold shares in this ETF, with total holdings valued at $4.6B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $591.2M.

Overview

Overview of institutional ownership in SPLV as of Q3 2025

All Institutions

Institutions: 720
Value Held: $4.6B
Shares Held: 62.2M
Avg Position: $6.4M
Median Position: $605.8K

Hedge Funds

Hedge Funds: 20
Value Held: $162.5M
Shares Held: 2.2M
Avg Position: $8.1M
Median Position: $686.9K

Biggest Investors

Institutions with the largest positions in SPLV as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$591.2M 0.04% of portfolio	8.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$359.4M 0.02% of portfolio	4.9M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
L LPL Financial LLC Institution	-	$266.1M 0.08% of portfolio	3.6M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
BANK OF MONTREAL /CAN/ Institution	Darryl White CEO	$215.1M 0.09% of portfolio	2.9M shares	≤ Q2 2013 Held for 12y 5m+	$227.19B
FMR LLC Institution	-	$184.8M 0.01% of portfolio	2.5M shares	Q4 2018 Held for 6y 11m	$1.92T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$114.2M 0.02% of portfolio	1.6M shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$112.4M 0.03% of portfolio	1.5M shares	≤ Q2 2013 Held for 12y 5m+	$433.11B
R ROYAL BANK OF CANADA Institution	-	$109.2M 0.02% of portfolio	1.5M shares	≤ Q2 2013 Held for 12y 5m+	$542.04B
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	Scott David Hoffman CEO	$106.0M 0.17% of portfolio	1.4M shares	Q1 2025 Held for 8 months	$62.0B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$105.5M 0.02% of portfolio	1.4M shares	≤ Q2 2013 Held for 12y 5m+	$633.08B

Net Capital Flow

Institutional buying and selling activity for SPLV in Q3 2025

Traded: +$84.5M
Buyers: 281
Sellers: 344
Total Bought: +$684.9M
Total Sold: −$600.4M
Avg Position: $5.8M

Biggest Buyers

Institution	Net Bought	Current Position
BANK OF MONTREAL /CAN/ Institution	+$204.6M +2.8M shares	$215.1M 2.9M shares
BANK OF AMERICA CORP /DE/ Institution	+$85.0M +1.2M shares	$591.2M 8.0M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$79.6M +1.1M shares	$106.0M 1.4M shares
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	+$37.1M +505.0K shares	$37.1M 505.0K shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$35.1M +478.4K shares	$40.3M 548.4K shares
Cartenna Capital, LP Hedge Fund•Long/Short	+$29.4M +400.0K shares	$29.4M 400.0K shares
Berman McAleer LLC RIA/Wealth	+$26.0M +353.3K shares	$26.0M 353.3K shares
P PICTON MAHONEY ASSET MANAGEMENT Institution	+$23.9M +325.4K shares	$24.2M 328.8K shares
Hansen & Associates Financial Group, Inc. RIA/Wealth	+$20.5M +28.4K shares	$20.5M 28.4K shares
Empowered Funds, LLC ETF Provider	+$12.2M +165.6K shares	$12.2M 165.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
MORGAN STANLEY RIA/Wealth	−$87.4M −1.2M shares	$359.4M 4.9M shares
A AdvisorShares Investments LLC Institution	−$54.5M −749.0K shares	Sold Off 0 shares
L LPL Financial LLC Institution	−$46.4M −632.0K shares	$266.1M 3.6M shares
AMERIPRISE FINANCIAL INC Institution	−$35.8M −486.8K shares	$112.4M 1.5M shares
Vestmark Advisory Solutions, Inc. Fund of Funds	−$32.6M −447.4K shares	Sold Off 0 shares
WELLS FARGO & COMPANY/MN Institution	−$27.6M −376.0K shares	$114.2M 1.6M shares
R ROYAL BANK OF CANADA Institution	−$20.3M −276.5K shares	$109.2M 1.5M shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$17.8M −242.5K shares	$66.5M 904.4K shares
POTOMAC FUND MANAGEMENT INC /ADV Long Only Manager	−$16.8M −231.0K shares	Sold Off 0 shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	−$14.1M −191.9K shares	$15.9M 216.3K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SPLV in Q3 2025

New Positions: 23
New Value: $92.8M
Exited Positions: 66
Exited Value: $195.1M

New Positions

Institution	Position Value
Berman McAleer LLC RIA/Wealth	$26.0M 353.3K shares
Hansen & Associates Financial Group, Inc. RIA/Wealth	$20.5M 28.4K shares
Empowered Funds, LLC ETF Provider	$12.2M 165.6K shares
Cambria Investment Management, L.P. ETF Provider	$10.9M 148.6K shares
Traynor Capital Management, Inc. RIA/Wealth	$9.5M 129.8K shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$4.6M 62.6K shares
VISIONARY HORIZONS, LLC RIA/Wealth	$1.9M 26.4K shares
C Cubist Systematic Strategies, LLC Institution	$1.7M 23.0K shares
V Vise Technologies, Inc. Institution	$967.9K 13.2K shares
Cutler Capital Management, LLC Hedge Fund•Convert Bond Arb	$795.2K 10.2K shares

Exited Positions

Institution	Previous Position
A AdvisorShares Investments LLC Institution	$54.5M 749.0K shares
Vestmark Advisory Solutions, Inc. Fund of Funds	$32.6M 447.4K shares
POTOMAC FUND MANAGEMENT INC /ADV Long Only Manager	$16.8M 231.0K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$13.4M 183.5K shares
G GTS SECURITIES LLC Institution	$12.6M 173.0K shares
FRANKLIN RESOURCES INC Institution	$6.8M 93.8K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	$6.5M 89.1K shares
C CLAUDIA M.P. BATLLE, CRP LLC RIA/Wealth	$6.3M 86.4K shares
Chicago Wealth Management, Inc. RIA/Wealth	$4.4M 60.2K shares
C Convergence Financial, LLC RIA/Wealth	$3.9M 53.6K shares

Options Activity

Institutions with the largest Call and Put options positions in SPLV as of Q3 2025

Call Positions: 6
Call Value: $5.5M
Put Positions: 4
Put Value: $4.2M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.0M 408.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.5M 210.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$507.0K 69.0 contracts
J JANE STREET GROUP, LLC Institution	$485.0K 66.0 contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	- - contracts
S Squarepoint Ops LLC Hedge Fund•Quant	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.7M 230.0 contracts
J JANE STREET GROUP, LLC Institution	$1.4M 191.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.1M 151.0 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	- - contracts

Most Committed Institutions

Institutions with SPLV as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Hansen & Associates Financial Group, Inc. RIA/Wealth	Mark Steven Hansen President	9.23% $20.5M	28.4K shares	Q3 2025 Held for 2 months	$221.9M
Painted Porch Advisors LLC RIA/Wealth	Brian Dennis Lloyd Managing Partner	8.73% $22.9M	311.8K shares	Q4 2023 Held for 1y 11m	$262.4M
GENWORTH FINANCIAL INC Institution	Thomas J. McInerney CEO	7.92% $34.6M	471.3K shares	Q4 2020 Held for 4y 11m	$437.2M
D Dominguez Wealth Management Solutions, Inc. RIA/Wealth	Jeffrey Paul Dominguez President	6.79% $10.7M	145.9K shares	Q4 2022 Held for 2y 11m	$158.0M
A Armbruster Capital Management, Inc. RIA/Wealth	Mark Edward Armbruster CEO	6.03% $35.4M	482.4K shares	Q4 2017 Held for 7y 11m	$587.6M
Fluent Financial, LLC RIA/Wealth	Mitchell Steven Kramer Managing Partner	6.00% $15.1M	204.9K shares	Q2 2024 Held for 1y 5m	$251.1M
Lake Hills Wealth Management, LLC RIA/Wealth	Zemach Michael Sternberg Managing Partner	5.68% $10.6M	144.8K shares	Q4 2022 Held for 2y 11m	$187.3M
FSC Wealth Advisors, LLC RIA/Wealth	James Michael Comblo Managing Partner	4.38% $7.6M	103.2K shares	Q3 2024 Held for 1y 2m	$173.3M
O O'ROURKE & COMPANY, Inc RIA/Wealth	Brian Christopher Orourke President	4.19% $10.0M	136.1K shares	Q4 2021 Held for 3y 11m	$238.4M
N New England Private Wealth Advisors LLC RIA/Wealth	Nicholas Anthony Mazorra CIO	3.70% $28.1M	382.0K shares	Q4 2012 Held for 12y 11m	$758.8M