Invesco National Amt-Free MuPZAETF
13F holders, Q4 2025 (December 31)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
Total Exit/New Position Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 23 | $48.0M |
| Exits | 25 | $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.