Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Invesco Exch Traded Fd Tr II (PZA)

297 + Investors. Track Smart Money conviction in PZA. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +34
Streak
4Q ▲
Buyers last Q
68%

Smart Money Signals — PZA

Based on 298 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 4 quarters in a row

last 6Q
For 4 consecutive quarters, more hedge funds added PZA than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
298 hedge funds hold PZA right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +41% more funds vs a year ago

fund count last 6Q
+86 new funds entered over the past year (+41% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 68% buying

198 buying94 selling
Last quarter: 198 funds were net buyers (59 opened a brand new position + 139 added to an existing one). Only 94 were sellers (69 trimmed + 25 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+15 vs last Q)

new funds entering per quarter
Funds opening a new PZA position: 34 → 55 → 44 → 59. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

51% of holders stayed for 2+ years

■ 51% conviction (2yr+) ■ 19% medium ■ 31% new
151 out of 298 hedge funds have held PZA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📈

Growing discovery — still being found

28 → 34 → 55 → 44 → 59 new funds/Q
New funds entering each quarter: 34 → 55 → 44 → 59. A growing number of institutions are discovering PZA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 54% veterans vs 35% newcomers

■ 54% veterans ■ 11% 1-2yr ■ 35% new
Entry-cohort mix of 302 holders: 162 (54%) are 2+ year veterans, 34 entered 1–2 years ago, and 106 (35%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 72% AUM from top-100 funds

72% from top-100 AUM funds
23 of 296 holders are among the 100 largest funds by AUM, controlling 72% of total institutional value in PZA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — PZA

In 2026 Q1, 198 hedge funds were net buyers of PZA (59 opened a new position, 139 added to an existing one), while 94 reduced or exited (69 trimmed, 25 sold completely) — a 68% buyer ratio, indicating clear institutional accumulation. This marks 4 consecutive quarters of net institutional buying — a persistent conviction signal. 72% of total institutional value in PZA is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +34 funds (more new holders than closures). Total institutional holders: 298.

Hedge Fund Ownership: PZA

How many hedge funds hold PZA — quarterly history vs. share price
Quarterly hedge fund ownership of PZA vs. share price

Market Analysis: PZA

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: PZA

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Invesco Exch Traded Fd Tr II (PZA) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much PZA has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 79d ago
PZA
+1.8%
SPY
+13.9%

PZA outperformed SPY by -12.1% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
PZA
+1.9%
SPY
+0.2%

Since the filing became public, PZA outperformed SPY by +1.7% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

7 top-rated funds 3 high-conviction
Consensus
3.9
/ 10
breadth
×
Elite
2.6
/ 10
conviction
Hedge Fund Positioning: PZA
297 + Investors

Track Smart Money conviction in PZA. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 297 264 12.5%
13F Shares 149M 101M 47.01%
Total Value $3.39B $2.39B 42.02%
New Positions 58 44 +14
Increased Positions 139 99 +40
Closed Positions 25 31 -6
Reduced Positions 68 85 -17
Total Calls 3 1 200.0%
Total Puts 2 0 100%
PUT/CALL Ratio 0.67 0.0 Bullish

Statistics: PZA

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

297 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in PZA. Verified SEC 13F-HR filings.

QUARTER:
Top 25 PZA holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Richard Bernstein Advisors LLC 6.07% 9,102,497 $209.2M
2 Connecticut Capital Management Group, LLC 3.65% 167,981 $3.9M
3 Robinson Capital Management, LLC 3.35% 344,351 $8.0M
4 Entrust Financial LLC 2.72% 169,396 $3.9M
5 Veltria Advisors Corp. 2.63% 34,034 $791K
6 Archer Investment Management, LLC 2.51% 259,293 $6.0M
7 Sofi Wealth, LLC 2.20% 1,983,286 $45.6M
8 West Wealth Group, LLC 2.01% 442,800 $10.2M
9 Meadowbrook Advisors Group, LLC 1.61% 117,594 $2.7M
10 Cliftonlarsonallen Wealth Advisors, LLC 1.47% 4,364,629 $100.3M
11 Goodman Advisory Group, LLC 1.46% 244,404 $5.6M
12 Rochester Wealth Strategies, LLC 1.41% 101,282 $2.3M
13 A4 Wealth Advisors LLC 1.38% 73,393 $1.7M
14 Stewardship Advisors, LLC 1.27% 240,734 $5.5M
15 Synergy Investment Management, LLC 1.09% 144,430 $3.3M
16 Targeted Financial Services LLC 1.05% 55,610 $1.3M
17 Petix & Botte Co 0.96% 188,478 $4.3M
18 Shepherd Financial Partners LLC 0.93% 424,429 $9.8M
19 ShoreHaven Wealth Partners, LLC 0.85% 103,323 $2.4M
20 Collaborative Wealth Managment Inc. 0.81% 77,253 $1.8M
21 Seeds Investor LLC 0.75% 237,249 $5.5M
22 Ehrlich Financial Group 0.70% 53,034 $1.2M
23 Leeward Financial Partners, LLC 0.65% 95,690 $2.2M
24 Quadrant Private Wealth Management, LLC 0.64% 179,307 $4.1M
25 Gerber Kawasaki Wealth & Investment Management 0.54% 734,645 $16.9M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Invesco Exch Traded Fd Tr II (PZA)

What does the Smart Money Trend signal show for PZA?

Buying streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds added PZA than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for PZA?

More buyers than sellers — 68% buying: Last quarter: 198 funds were net buyers (59 opened a brand new position + 139 added to an existing one). Only 94 were sellers (69 trimmed + 25 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for PZA holders?

Elite ownership — 72% AUM from top-100 funds: 23 of 296 holders are among the 100 largest funds by AUM, controlling 72% of total institutional value in PZA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held PZA?

51% of holders stayed for 2+ years: 151 out of 298 hedge funds have held PZA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Invesco Exch Traded Fd Tr II (PZA) following the 2026 Q1 hedge fund 13F filings?

As of today, PZA has moved +1.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.2% for the SPY sector ETF — an outperformance of +1.7%. Since the quarter end (March 31, 2026), PZA has gained +1.8% vs +13.9% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

Full history →