Invesco National Amt-Free MuPZAETF

13F holders, Q4 2025 (December 31)
268holders +18
23new positions
25sold out
3famous investors
$23.19avg. 13F price*

At the end of Q4 2025, 268 institutions reported holding Invesco National Amt-Free Mu (PZA) in their 13F filings, up 18 from Q3 2025. 23 opened new positions and 25 sold out. The largest holders were Bank of America Corp. ($1.2B), Cliftonlarsonallen Wealth Advisors, LLC ($100.2M) and Richard Bernstein Advisors LLC ($70.5M). 3 famous investors held it, including Ken Griffin (0.0% of Citadel Advisors's portfolio), Jim Simons / Peter Brown (0.0% of Renaissance Technologies's portfolio) and Jeremy Grantham (0.0% of GMO's portfolio).

Company
Invesco National Amt-Free Mu
CUSIP
46138E537
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300400 Q1 2024: 197Q1 2024Q2 2024: 211Q2 2024Q3 2024: 217Q3 2024Q4 2024: 229Q4 2024Q1 2025: 213Q1 2025Q2 2025: 223Q2 2025Q3 2025: 250Q3 2025Q4 2025: 268Q4 2025Q1 2026: 294Q1 2026Q2 2026: 324Q2 2026

Total Exit/New Position Q3 2025 → Q4 2025

InstitutionsTotal Value
New Positions23$48.0M
Exits25$134.2M

All 13F filers, Q3 2025 → Q4 2025: 6,609,728 shares bought and 8,287,820 shares sold, net −1,678,092 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 268 holders

Bank of America Corp. 0.09% Reduce -1.4% 52,186,296 $1.2B
Cliftonlarsonallen Wealth Advisors, LLC 1.51% Add +4.2% 4,321,626 $100.2M
Richard Bernstein Advisors LLC 2.07% Reduce -1.0% 3,040,662 $70.5M
LPL Financial LLC 0.02% Reduce -0.8% 2,618,017 $60.7M
Envestnet Asset Management Inc. 0.02% Reduce -7.2% 2,565,135 $59.5M
Bank of New York Mellon Corp 0.01% Add +8.6% 2,465,871 $57.2M
Jane Street Group, LLC 0.07% Add +374.2% 2,447,309 $56.8M
Morgan Stanley 0.00% Reduce -15.4% 1,899,820 $44.1M
UBS Group AG 0.01% Reduce -0.4% 1,890,387 $43.8M
Northwestern Mutual Wealth Management Co. 0.03% Add +19.4% 1,877,361 $43.5M
EP Wealth Advisors, LLC 0.19% — 1,602,126 $37.2M
Composition Wealth, LLC 0.46% Add +10.2% 1,394,378 $32.3M
Wells Fargo & Company 0.01% Add +3.9% 1,393,723 $32.3M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% New 1,076,590 $25.0M
Stifel Financial Corp. 0.02% Add +0.5% 884,956 $20.5M
Ameriprise Financial Inc. 0.00% Reduce -6.0% 817,631 $19.0M
JPMorgan Chase & Co. 0.00% Add +41.9% 712,394 $16.5M
Cetera Investment Advisers 0.02% Reduce -2.2% 704,469 $16.3M
Gerber Kawasaki Wealth & Investment Management 0.55% Add +0.3% 679,313 $15.8M
Citadel Advisors 0.01% New 658,401 $15.3M
Stratos Wealth Partners, LTD. 0.16% Add +14.9% 607,887 $14.1M
Raymond James Financial Inc. 0.00% Reduce -0.7% 604,671 $14.0M
Sanctuary Advisors, LLC 0.06% Add +14.5% 507,004 $11.8M
Allworth Financial LP 0.05% Add +8.4% 492,908 $11.4M
Avidian Wealth Enterprises, LLC 0.41% Add +0.0% 486,734 $11.3M
Sofi Wealth, LLC 0.56% Add +9.6% 480,472 $11.1M
Osaic Holdings, Inc. 0.02% Reduce -18.2% 472,724 $11.0M
IHT Wealth Management, LLC 0.23% Add +19.9% 402,908 $9.3M
Commonwealth Equity Services, LLC 0.01% Reduce -4.5% 393,122 $9.1M
Rockefeller Capital Management L.P. 0.02% Reduce -5.7% 377,673 $8.8M
PNC Financial Services Group, Inc. 0.00% Add +14.0% 371,612 $8.6M
Assetmark, Inc. 0.02% Reduce -0.2% 356,463 $8.3M
US Bancorp \de 0.01% Add +10.7% 341,052 $7.9M
Goodman Advisory Group, LLC 1.84% Add +88.3% 321,591 $7.5M
Royal Bank of Canada 0.00% Add +24.2% 319,334 $7.4M
MML Investors Services, LLC 0.02% Add +20.4% 292,528 $6.8M
Renaissance Technologies 0.01% Reduce -33.0% 288,900 $6.7M
Comerica Bank 0.02% Add +1.1% 268,421 $6.2M
Tortoise Investment Management, LLC 0.53% Reduce -2.2% 258,557 $6.0M
Stewardship Advisors, LLC 1.32% Reduce -25.0% 247,064 $5.7M
Anderson Hoagland & Co. 0.49% Reduce -0.2% 244,125 $5.7M
Trustmark Bank Trust Department 0.34% Reduce -13.1% 232,625 $5.4M
Integrated Wealth Concepts LLC 0.06% Add +25.3% 221,572 $5.1M
Wealth Enhancement Advisory Services, LLC 0.01% Reduce -10.3% 220,694 $5.1M
Traphagen Investment Advisors LLC 0.41% Reduce -4.2% 216,475 $5.0M
Confluence Investment Management LLC 0.07% Reduce -3.5% 213,404 $4.9M
Shepherd Financial Partners LLC 0.43% Add +8.9% 202,280 $4.7M
1900 Wealth Management LLC 0.28% Add +2.0% 190,137 $4.4M
Moneta Group Investment Advisors LLC 0.03% Add +3.6% 187,299 $4.3M
Petix & Botte Co 0.96% Add +4.2% 182,268 $4.2M
McAdam, LLC 0.18% Reduce -3.6% 166,678 $3.9M
Private Advisor Group, LLC 0.02% Add +2.5% 165,451 $3.8M
TD Private Client Wealth LLC 0.08% Reduce -2.6% 157,959 $3.7M
Truist Financial Corp. 0.00% Add +3.0% 156,778 $3.6M
Seeds Investor LLC 0.68% Add +11.2% 153,535 $3.6M
Connecticut Capital Management Group, LLC 3.39% — 152,850 $3.5M
Entrust Financial LLC 2.51% — 145,416 $3.4M
Old Mission Capital LLC 0.13% Add +781.7% 140,794 $3.3M
Jones Financial Companies LLLP 0.00% Add +6.4% 128,699 $3.0M
AE Wealth Management LLC 0.02% Add +76.3% 127,728 $3.0M
Meadowbrook Advisors Group, LLC 1.55% — 118,656 $2.8M
Ashton Thomas Securities, LLC 0.47% Reduce -35.9% 107,009 $2.5M
Concurrent Investment Advisors, LLC 0.03% Add +44.2% 97,793 $2.3M
SteelPeak Wealth, LLC 0.07% Reduce -2.3% 95,245 $2.2M
Rochester Wealth Strategies, LLC 1.37% Reduce -5.3% 93,903 $2.2M
Leeward Financial Partners, LLC 0.61% Add +0.3% 93,767 $2.2M
Northeast Financial Group, Inc. 0.53% Add +9.3% 91,234 $2.1M
Collaborative Wealth Managment Inc. 0.73% Reduce -2.3% 89,747 $2.1M
Ascent Group, LLC 0.07% Add +181.2% 89,360 $2.1M
First Foundation Advisors 0.08% Reduce -4.7% 88,495 $2.1M
Park Avenue Securities LLC 0.02% Reduce -41.7% 87,462 $2.0M
Vestmark Advisory Solutions, Inc. 0.03% Add +188.3% 87,426 $2.0M
Principal Securities, Inc. 0.03% Reduce -1.0% 87,296 $2.0M
First Heartland Consultants, Inc. 0.15% Reduce -1.0% 85,892 $2.0M
West Wealth Group, LLC 0.41% Add +21.7% 84,452 $2.0M
Flow Traders U.S. LLC 0.06% New 80,624 $1.9M
Waverly Advisors, LLC 0.02% Add +34.8% 80,582 $1.9M
Advisory Services Network, LLC 0.03% Reduce -4.4% 78,737 $1.8M
Simon Quick Advisors, LLC 0.08% Reduce -71.6% 74,617 $1.7M
Quadrature Capital Ltd 0.02% Add +572.4% 73,390 $1.7M
Per Stirling Capital Management, LLC. 0.19% Add +62.0% 72,329 $1.7M
Vise Technologies, Inc. 0.03% Reduce -2.7% 67,637 $1.6M
Ssa Swiss Advisors AG 0.72% Reduce -4.0% 66,770 $1.5M
Susquehanna International Group, LLP 0.00% Add +337.0% 66,103 $1.5M
Cambridge Investment Research Advisors, Inc. 0.00% Add +21.0% 62,407 $1.4M
GMO 0.00% New 61,796 $1.4M
Clark Capital Management Group, Inc. 0.01% Reduce -48.9% 60,984 $1.4M
Quadrant Private Wealth Management, LLC 0.23% Add +61.9% 59,773 $1.4M
Synergy Investment Management, LLC 0.48% Add +29.0% 58,821 $1.4M
Tower Research Capital LLC (TRC) 0.03% Add +83857.1% 58,770 $1.4M
Elevation Point Wealth Partners, LLC 0.06% Reduce -1.6% 57,340 $1.3M
Garden State Investment Advisory Services LLC 0.32% Add +1.0% 57,327 $1.3M
Perennial Investment Advisors, LLC 0.10% Add +31.9% 55,015 $1.3M
Flynn Zito Capital Management, LLC 0.45% Reduce -8.9% 54,256 $1.3M
HighTower Advisors, LLC 0.00% Add +72.6% 53,778 $1.2M
Fiduciary Trust Co 0.01% No change 50,000 $1.2M
Choreo, LLC 0.01% No change 49,471 $1.1M
NewEdge Advisors, LLC 0.00% Add +123.3% 48,032 $1.1M
FOCUS Wealth Advisors, LLC 0.51% Add +4.9% 47,536 $1.1M
Keybank National Association 0.00% Reduce -2.5% 46,154 $1.1M
Ausdal Financial Partners, Inc. 0.05% Add +0.1% 45,314 $1.1M
MIdWestOne Financial Group, Inc. 0.12% No change 45,260 $1.0M
Kestra Advisory Services, LLC 0.00% Add +30.6% 45,174 $1.0M
Creative Planning 0.00% Reduce -0.6% 45,065 $1.0M
Merit Financial Group, LLC 0.01% Add +0.8% 43,450 $1.0M
ProVise Management Group, LLC 0.07% Reduce -3.9% 41,841 $970K
World Investment Advisors 0.02% Add +6.0% 39,894 $925K
Atria Investments, Inc 0.01% Add +28.1% 38,917 $902K
OpenArc Corporate Advisory, LLC 0.01% — 36,949 $857K
Bernardo Wealth Planning LLC 0.16% Add +10.4% 36,163 $839K
TSG Advice Partners, LLC 0.13% — 35,786 $830K
Commerce Bank 0.00% Add +73.7% 35,727 $829K
Ally Invest Advisors Inc. 0.06% Add +7.6% 35,466 $822K
ShoreHaven Wealth Partners, LLC 0.29% Add +7.0% 35,320 $819K
UMB Bank, n.a. 0.01% No change 34,638 $803K
Ducere Wealth Management LLC 0.29% — 32,461 $753K
Captrust Financial Advisors 0.00% Add +4.0% 32,316 $749K
Flagship Harbor Advisors, LLC 0.04% Add +2.6% 32,176 $746K
Calton & Associates, Inc. 0.10% Reduce -34.1% 30,836 $715K
Janney Montgomery Scott LLC 0.00% Reduce -0.5% 30,761 $713K
Robertson Stephens Wealth Management, LLC 0.02% No change 29,199 $677K
Advisory Alpha, LLC 0.02% Reduce -6.3% 29,037 $673K
CX Institutional 0.02% Reduce -15.7% 28,485 $661K
Tyche Wealth Partners LLC 0.10% Add +0.0% 27,899 $647K
Running Point Capital Advisors, LLC 0.18% Reduce -22.8% 27,793 $645K
Charles Schwab Investment Management Inc. 0.00% New 27,669 $642K
C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors 0.04% Add +25.9% 27,358 $634K
Sowell Financial Services LLC 0.02% Add +17.8% 27,152 $630K
Northern Trust Corp. 0.00% New 26,824 $622K
Keystone Financial Group 0.05% Add +0.8% 26,436 $613K
Envestnet Portfolio Solutions, Inc. 0.00% Add +7.8% 26,008 $603K
Wealthcare Advisory Partners LLC 0.01% Add +4.2% 25,994 $603K
Crews Bank & Trust 0.08% Reduce -1.9% 25,515 $592K
IFG Advisory, LLC 0.03% Add +7.8% 24,722 $573K
Exencial Wealth Advisors, LLC 0.02% Add +36.2% 22,980 $533K
Colonial River Investments, LLC 0.19% Add +1.2% 22,733 $527K
J.W. Cole Advisors, Inc. 0.01% Add +2.1% 22,216 $515K
MRP Capital Investments, LLC 0.43% Add +2.3% 21,861 $507K
Axxcess Wealth Management, LLC 0.01% Reduce -3.7% 21,465 $498K
Blue Trust, Inc. 0.01% Reduce -0.5% 21,457 $498K
Annex Advisory Services, LLC 0.01% Reduce -59.7% 21,312 $494K
Dynamic Advisor Solutions LLC 0.02% Reduce -3.8% 20,367 $472K
Stephens Inc. 0.01% New 20,067 $465K
Gladstone Institutional Advisory LLC 0.02% Reduce -2.2% 19,596 $454K
Ackerman Capital Advisors, LLC 0.09% Reduce -17.3% 19,564 $454K
Sage Advisory Services, Ltd.Co. 0.25% New 19,426 $450K
PFW Advisors LLC 0.13% Reduce -29.3% 18,968 $440K
Mariner, LLC 0.00% Add +62.5% 18,341 $425K
Vectors Research Management, LLC 0.13% No change 18,026 $418K
Courier Capital LLC 0.02% No change 18,026 $418K
Targeted Financial Services LLC 0.36% — 17,958 $416K
Advisory Resource Group 0.07% Reduce -12.7% 17,831 $414K
Sepio Capital, LP 0.02% Add +0.4% 17,634 $409K
Orion Porfolio Solutions, LLC 0.00% Reduce -4.2% 17,568 $407K
Integrity Financial Corp 0.20% New 17,244 $400K
&partners 0.00% Add +52.0% 16,980 $394K
Ehrlich Financial Group 0.22% Reduce -3.1% 16,958 $393K
Revisor Wealth Management LLC 0.11% Reduce -35.7% 16,932 $392K
Veltria Advisors Corp. 1.69% No change 16,640 $389K
Wiser Advisor Group LLC 0.44% Reduce -14.3% 16,685 $387K
Thomasville National Bank 0.02% No change 16,600 $385K
Integrity Advisory Solutions, LLC 0.05% No change 15,439 $358K
FLP Wealth Management, LLC 0.84% Add +0.4% 15,376 $357K
Cornerstone Wealth Management, LLC 0.02% Add +66.0% 15,187 $352K
Unify Financial Advisors 0.35% — 14,440 $335K
American Institute for Advanced Investment Management, LLP 0.21% Add +4.8% 14,345 $333K
Silver Oak Securities, Incorporated 0.02% Add +9.9% 14,088 $327K
A4 Wealth Advisors LLC 0.28% New 13,859 $321K
Englebert Financial Advisers, LLC 0.36% — 13,420 $311K
Schwallier Wealth Management LLC 0.20% Add +5.1% 13,325 $310K
Kwmg, LLC 0.03% Add +5.2% 13,106 $304K
Leo Wealth, LLC 0.02% New 13,032 $302K
Tempus Wealth Planning, LLC 0.07% Reduce -0.4% 12,978 $301K
CAP Partners, LLC 0.17% Add +0.9% 12,921 $300K
Keating Financial Advisory Services, Inc. 0.04% — 12,557 $291K
Thrivent Financial for Lutherans 0.00% New 12,421 $288K
First United Bank & Trust 0.09% Reduce -12.8% 12,386 $287K
Cullen/Frost Bankers, Inc. 0.00% No change 12,373 $287K
Diversify Advisory Services, LLC 0.01% Add +1.1% 12,270 $286K
Mascoma Wealth Management LLC 0.06% Add +0.2% 12,206 $283K
First Trust Advisors LP 0.00% Reduce -0.7% 12,024 $279K
PAX Financial Group, LLC 0.05% Reduce -1.4% 11,964 $277K
Passumpsic Savings Bank 0.15% — 11,790 $273K
Harbour Investments, Inc. 0.01% Add +5.2% 11,576 $268K
Meridian Wealth Management, LLC 0.01% No change 11,250 $261K
Patron Partners, LLC 0.11% Reduce -0.3% 10,760 $250K
Steward Partners Investment Advisory, LLC 0.00% Reduce -39.5% 10,609 $246K
First Citizens Financial Corp 0.12% Add +1.6% 10,545 $245K
Capstone Financial Advisors, Inc. 0.01% Reduce -6.8% 10,473 $243K
Liberty Square Wealth Partners LLC 0.07% No change 10,437 $242K
Fortis Capital Advisors, LLC 0.04% Reduce -23.6% 10,383 $241K
Belpointe Asset Management LLC 0.01% Reduce -23.6% 10,383 $241K
FMR LLC 0.00% Add +245.2% 10,252 $238K
Diversify Wealth Management, LLC 0.01% New 10,046 $234K
NewEdge Wealth, LLC 0.00% Add +4.5% 10,069 $234K
Harmony Asset Management LLC 0.08% Add +7.5% 10,000 $232K
High Falls Advisors, Inc 0.05% Add +0.1% 9,853 $228K
Laurel Oak Wealth Management, LLC 0.04% — 9,812 $228K
Melone Private Wealth, LLC 0.10% New 9,787 $227K
Parcion Private Wealth LLC 0.01% No change 9,573 $222K
Great Valley Advisor Group, Inc. 0.00% Reduce -7.9% 9,519 $221K
BlackRock, Inc. 0.00% Add +5.8% 9,508 $220K
Procyon Advisors, LLC 0.01% Reduce -14.2% 9,346 $217K
KFA Private Wealth Group, LLC 0.05% Reduce -0.2% 9,175 $213K
Cadia Private Client LLC 0.17% — 9,145 $212K
James J. Burns & Company, LLC 0.03% Add +0.9% 9,140 $212K
Vontobel Holding Ltd. 0.00% No change 8,843 $205K
Interactive Financial Advisors, Inc. 0.13% Reduce -0.1% 8,826 $205K
Capital Analysts, LLC 0.01% New 8,552 $198K
IFP Advisors, Inc 0.00% Add +98.8% 7,860 $182K
Spire Wealth Management 0.01% Reduce -86.5% 7,822 $181K
Addison Advisors LLC 0.04% Reduce -36.5% 7,090 $164K
Qube Research & Technologies Ltd 0.00% New 6,947 $161K
Farther Finance Advisors, LLC 0.00% Add +0.1% 6,908 $160K
Aptus Capital Advisors, LLC 0.00% Add +7.9% 6,649 $154K
Ancora Advisors LLC 0.00% Reduce -8.4% 6,190 $144K
Creative Financial Designs Inc. 0.01% No change 5,441 $126K
Private Trust Co. NA 0.01% Reduce -2.9% 5,438 $126K
Richardson Financial Services Inc. 0.04% Reduce -10.3% 5,394 $116K
Independence Bank of Kentucky 0.01% No change 4,690 $109K
Greykasell Wealth Strategies, Inc. 0.04% No change 4,639 $108K
Kingdom Financial Group LLC. 0.03% New 4,375 $101K
New Millennium Group LLC 0.04% No change 3,983 $92K
Parkside Financial Bank & Trust 0.01% No change 3,952 $92K
Capital Investment Advisory Services, LLC 0.01% Reduce -7.8% 3,680 $85K
Wealth Enhancement Trust Services, Inc. 0.01% — 3,261 $76K
Global Retirement Partners, LLC 0.00% Reduce -19.5% 3,012 $70K
IMG Wealth Management, Inc. 0.04% No change 2,656 $62K
Westside Investment Management, Inc. 0.01% No change 2,500 $58K
Vision Retirement, LLC 0.02% — 2,442 $57K
AlphaCore Capital LLC 0.00% No change 2,430 $56K
Signature Equity Partners, LLC 0.03% — 2,404 $56K
Realta Investment Advisors 0.02% Reduce -17.9% 2,371 $55K
United Financial Planning Group LLC 0.03% Reduce -4.7% 2,167 $50K
Blair William & Co. 0.00% Add +38.5% 2,058 $48K
Centennial Bank 0.02% Add +204.3% 2,030 $47K
EverSource Wealth Advisors, LLC 0.00% Add +0.1% 1,926 $45K
Coston, McIsaac & Partners 0.01% New 1,761 $40K
Winthrop Capital Management, LLC 0.01% No change 1,626 $38K
MAI Capital Management 0.00% No change 1,421 $33K
LGT Financial Advisors LLC 0.19% Add +382.0% 1,340 $31K
Meramec Financial Planners, LLC 0.01% — 1,000 $23K
Lanark Financial, Inc. 0.00% No change 1,005 $23K
N.E.W. Advisory Services LLC 0.00% No change 1,000 $23K
Franklin Resources Inc. 0.00% No change 1,000 $23K
First PREMIER Bank 0.01% No change 1,000 $23K
Horizon Financial Services, LLC 0.01% No change 911 $21K
Godfrey Financial Associates, Inc. 0.02% — 810 $19K
Golden State Wealth Management, LLC 0.00% Add +13.7% 787 $18K
Geneos Wealth Management Inc. 0.00% Add +0.9% 779 $18K
Lloyd Advisory Services, LLC. 0.01% New 663 $15K
AdvisorNet Financial, Inc 0.00% No change 616 $14K
International Assets Investment Management, LLC 0.00% New 588 $14K
Key Capital Management, INC 0.01% — 569 $13K
Bogart Wealth, LLC 0.00% No change 549 $13K
McGuire Capital Advisors Inc. 0.01% — 491 $11K
Cwm, LLC 0.00% Reduce -85.5% 373 $9K
Versant Capital Management, Inc 0.00% No change 258 $6K
Rossby Financial, LCC 0.00% Add +1.6% 257 $6K
Financial Network Wealth Advisors LLC 0.00% Add +2.8% 187 $4K
Evolution Wealth Management Inc. 0.00% No change 106 $2K
Signaturefd, LLC 0.00% No change 92 $2K
MassMutual Private Wealth & Trust, FSB 0.00% No change 73 $2K
Financial Consulate, Inc. 0.00% New 37 $859
Transamerica Financial Advisors, LLC 0.00% Reduce -4.3% 22 $517
BNP Paribas Financial Markets 0.00% New 16 $371
GAMMA Investing LLC 0.00% New 9 $209
CoreCap Advisors, LLC 0.00% Add +0.0% 1 $13

"% of holder's portfolio" is PZA's weight in each manager's 13F, not the share of Invesco National Amt-Free Mu the manager owns.