Wolverine Trading, Llc ownership in TAN / Invesco Exchange-Traded Fund Trust II - Invesco Solar ETF - 13F, 13D, 13G Filings

Invesco Exchange-Traded Fund Trust II - Invesco Solar ETF

US ˙ ARCA ˙ US46138G7060

Security	TAN / Invesco Exchange-Traded Fund Trust II - Invesco Solar ETF
Institution	Wolverine Trading, Llc
Latest Disclosed Ownership	0 shares
Latest Disclosed Value	$ 0

Wolverine Trading, Llc ownership in TAN / Invesco Exchange-Traded Fund Trust II - Invesco Solar ETF

On May 15, 2025 - Wolverine Trading, Llc filed a 13F-HR form disclosing ownership of 0 shares of Invesco Exchange-Traded Fund Trust II - Invesco Solar ETF (US:TAN) valued at $0 USD as of March 31, 2025. The entity filed a previous 13F-HR on February 14, 2025 disclosing 27,513 shares of Invesco Exchange-Traded Fund Trust II - Invesco Solar ETF. This represents a change in shares of -100.00% during the quarter. The current value of the position is $0 USD.

Wolverine Trading, Llc has a history of taking positions in derivatives of the underlying security (TAN) in the form of stock options. The firm currently holds call options representing 0 of underlying shares valued at $0 USD and put options representing 0 of underlying shares valued at $0 USD .

Note: prior versions of this page mistakenly stated that the share values represented the number of options, not the number of underlying shares. For more information on the data backing these reports, please see the SEC document Frequently Asked Questions About Form 13F.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Institutional Put/Call Ratios

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In addition to reporting standard equity and debt issues, institutions with more than 100MM assets under management must also disclose their put and call option holdings. Since put options generally indicate negative sentiment, and call options indicate positive sentiment, we can get a sense of the overall institutional sentiment by plotting the ratio of puts to calls. The chart to the right plots the historical put/call ratio for this instrument.

Using Put/Call Ratio as an indicator of investor sentiment overcomes one of the key deficiencies of using total institutional ownership, which is that a significant amount of assets under management are invested passively to track indices. Passively-managed funds do not typically buy options, so the put/call ratio indicator more closely tracks the sentiment of actively-managed funds.

TAN / Invesco Exchange-Traded Fund Trust II - Invesco Solar ETF Historical Put/Call Ratio

Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2025-05-15	2025-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	0	-27,513	-100.00	0	-100.00
2025-02-14	2024-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	27,513	2,919	11.87	925	-12.58	0.0009
2024-11-14	2024-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	24,594	-23,543	-48.91	1,058	-45.37	0.0011
2024-08-14	2024-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	48,137	38,051	377.27	1,936	323.41	0.0020
2024-05-15	2024-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	10,086	-78,554	-88.62	458	-90.33	0.0005
2024-02-14	2023-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	88,640	73,835	498.72	4,729	517.23	0.0049
2023-11-15	2023-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	14,805	10,027	209.86	767	132.83	0.0008
2023-08-23	2023-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	4,778	4,778		329		0.0004
2023-05-15	2023-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	0	-5,103	-100.00	0	-100.00
2023-02-14	2022-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	5,103	-6,333	-55.38	372	-55.61	0.0006
2022-11-14	2022-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	11,436	5,375	88.68	838	99.52	0.0013
2022-08-15	2022-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	6,061	-7,608	-55.66	420	-59.46	0.0007
2022-05-16	2022-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	13,669	-23,323	-63.05	1,036	-63.95	0.0013
2022-02-14	2021-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	36,992	26,440	250.57	2,874	247.52	0.0034
2021-11-12	2021-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	10,552	-69,995	-86.90	827	-88.81	0.0009
2021-08-06	2021-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	80,547	-4,025	-4.76	7,393	-2.08	0.0115
2021-05-14	2021-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	84,572	84,572		7,550		0.0114
2021-02-12	2020-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	0	-11,480	-100.00	0	-100.00
2020-11-13	2020-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	11,480	11,480		718		0.0017
2020-08-13	2020-06-30	13F	INVESCO EXCHANGE-TRADED FD T	SOLAR ETF	46138G706	0	-8,856	-100.00	0	-100.00
2020-05-11	2020-03-31	13F	INVESCO EXCHANGE-TRADED FD T	SOLAR ETF	46138G706	8,856	-10,231	-53.60	223	-61.95	0.0007
2020-02-12	2019-12-31	13F	INVESCO EXCHNG TRADED FD TR	SOLAR ETF	46138G706	19,087	19,087		586		0.0014

Disclosed Call Options

File Date	Effective Date	Form	Security	Class	Opt	Shares	ΔShares (%)	Value (x1000)	ΔValue (%)	Cost Basis (x1000)	Profit (x1000)	Return (%)
2025-11-14	2025-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	0	-100.00	0		n/a	n/a	n/a
2025-08-18	2025-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	54,000		1,844		n/a	n/a	n/a
2025-05-15	2025-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	0	-100.00	0	-100.00	n/a	n/a	n/a
2025-02-14	2024-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	56,600	-46.55	1,903	-58.23	n/a	n/a	n/a
2024-11-14	2024-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	105,900	-20.20	4,554	-14.66	n/a	n/a	n/a
2024-08-14	2024-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	132,700	17.12	5,336	3.79	n/a	n/a	n/a
2024-05-15	2024-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	113,300	-7.43	5,140	-21.29	n/a	n/a	n/a
2024-02-14	2023-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	122,400	-11.18	6,530	-8.49	n/a	n/a	n/a
2023-11-15	2023-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	137,800	68.46	7,137	26.59	n/a	n/a	n/a
2023-08-23	2023-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	81,800		5,638		n/a	n/a	n/a
2023-05-15	2023-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	0	-100.00	0	-100.00	n/a	n/a	n/a
2023-02-14	2022-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	117,700	-9.74	8,585	-10.14	n/a	n/a	n/a
2022-11-14	2022-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	130,400	16.95	9,554	23.61	n/a	n/a	n/a
2022-08-15	2022-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	111,500	-7.32	7,729	-15.22	n/a	n/a	n/a
2022-05-16	2022-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	120,300	-23.67	9,116	-25.54	n/a	n/a	n/a
2022-02-14	2021-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	157,600	18.50	12,242	17.46	n/a	n/a	n/a
2021-11-12	2021-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	133,000	-5.34	10,422	-19.18	n/a	n/a	n/a
2021-08-06	2021-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	140,500	2.26	12,895	5.13	n/a	n/a	n/a
2021-05-14	2021-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	137,400		12,266		n/a	n/a	n/a
2021-02-12	2020-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	0	-100.00	0	-100.00	n/a	n/a	n/a
2020-11-13	2020-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Call	53,800	253.95	3,364	513.87	n/a	n/a	n/a
2020-08-13	2020-06-30	13F	INVESCO EXCHANGE-TRADED FD T	SOLAR ETF	Call	15,200	-31.53	548	-1.79	n/a	n/a	n/a
2020-05-11	2020-03-31	13F	INVESCO EXCHANGE-TRADED FD T	SOLAR ETF	Call	22,200	107.48	558	70.12	n/a	n/a	n/a
2020-02-12	2019-12-31	13F	INVESCO EXCHNG TRADED FD TR	SOLAR ETF	Call	10,700		328		n/a	n/a	n/a

Disclosed Put Options

File Date	Effective Date	Form	Security	Class	Opt	Shares	ΔShares (%)	Value (x1000)	ΔValue (%)	Cost Basis (x1000)	Profit (x1000)	Return (%)
2025-11-14	2025-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	0	-100.00	0		n/a	n/a	n/a
2025-08-18	2025-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	102,500		3,499		n/a	n/a	n/a
2025-05-15	2025-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	0	-100.00	0	-100.00	n/a	n/a	n/a
2025-02-14	2024-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	59,300	-35.19	1,994	-49.34	n/a	n/a	n/a
2024-11-14	2024-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	91,500	14.81	3,934	22.78	n/a	n/a	n/a
2024-08-14	2024-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	79,700	29.59	3,205	14.84	n/a	n/a	n/a
2024-05-15	2024-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	61,500	-34.99	2,790	-44.71	n/a	n/a	n/a
2024-02-14	2023-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	94,600	15.51	5,047	18.98	n/a	n/a	n/a
2023-11-15	2023-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	81,900	14.87	4,242	-13.68	n/a	n/a	n/a
2023-08-23	2023-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	71,300		4,914		n/a	n/a	n/a
2023-05-15	2023-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	0	-100.00	0	-100.00	n/a	n/a	n/a
2023-02-14	2022-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	87,300	-15.98	6,368	-16.35	n/a	n/a	n/a
2022-11-14	2022-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	103,900	52.12	7,613	60.78	n/a	n/a	n/a
2022-08-15	2022-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	68,300	-32.24	4,735	-38.02	n/a	n/a	n/a
2022-05-16	2022-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	100,800	-48.75	7,639	-50.01	n/a	n/a	n/a
2022-02-14	2021-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	196,700	24.34	15,280	23.26	n/a	n/a	n/a
2021-11-12	2021-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	158,200	-39.15	12,397	-48.05	n/a	n/a	n/a
2021-08-06	2021-06-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	260,000	-16.40	23,863	-14.05	n/a	n/a	n/a
2021-05-14	2021-03-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	311,000		27,763		n/a	n/a	n/a
2021-02-12	2020-12-31	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	0	-100.00	0	-100.00	n/a	n/a	n/a
2020-11-13	2020-09-30	13F	INVESCO EXCH TRADED FD TR II	SOLAR ETF	Put	43,400	305.61	2,713	602.85	n/a	n/a	n/a
2020-08-13	2020-06-30	13F	INVESCO EXCHANGE-TRADED FD T	SOLAR ETF	Put	10,700	-36.31	386	-8.53	n/a	n/a	n/a
2020-05-11	2020-03-31	13F	INVESCO EXCHANGE-TRADED FD T	SOLAR ETF	Put	16,800	-7.69	422	-24.51	n/a	n/a	n/a
2020-02-12	2019-12-31	13F	INVESCO EXCHNG TRADED FD TR	SOLAR ETF	Put	18,200		559		n/a	n/a	n/a
2019-08-20	2019-06-30	13F	INVESCO EXCHNG TRADED FD TR	SOLAR ETF	Put	0	-100.00	0	-100.00	n/a	n/a	n/a
2019-05-15	2019-03-31	13F	INVESCO EXCHNG TRADED FD TR	SOLAR ETF	Put	9,300		215		n/a	n/a	n/a

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.