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GMUB

Goldman Sachs Municipal Income ETF
GMUB

39 hedge funds and large institutions have $130M invested in Goldman Sachs Municipal Income ETF in 2025 Q4 according to their latest regulatory filings, with 20 funds opening new positions, 12 increasing their positions, 6 reducing their positions, and 1 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,900% more first-time investments, than exits

New positions opened: 20 | Existing positions closed: 1

100% more repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 6

77% more funds holding

Funds holding: 22 → 39 (+17)

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

30% more capital invested

Capital invested by funds: $100M → $130M (+$29.8M)

3.97% more ownership

Funds ownership: 93.68% → 97.64% (+4%)

Holders
39
Holders Change
+17
Holders Change %
+77.27%
% of All Funds
0.47%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
20
Increased
12
Reduced
6
Closed
1
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
GA
GoalVest Advisory
New York
+$5.88M
2
UCFA
United Capital Financial Advisors
Texas
+$5.02M
3
CAWM
Capital Advisors Wealth Management
Washington
+$4M
4
FFA
Farther Finance Advisors
California
+$3.12M
5
PIA
Pinion Investment Advisors
Kansas
+$2.89M

Top Sellers

Rank Fund Capital Flow
1
FTUS
Flow Traders U.S.
New York
-$3.08M
2
Stifel Financial
Stifel Financial
Missouri
-$498K
3
BFG
Berger Financial Group
Minnesota
-$158K
4
JP Morgan Chase
JP Morgan Chase
New York
-$97.1K
5
LWMNY
Landmark Wealth Management (New York)
New York
-$23K
Name Holding Trade Value Shares
Change 		Change in
Stake
Betterment LLC
1
Betterment LLC
New York
$42.6M +$2.85M +55,894 +7%
Stifel Financial
2
Stifel Financial
Missouri
$17.3M -$498K -9,744 -3%
GA
3
GoalVest Advisory
New York
$13.9M +$5.88M +115,165 +74%
PIA
4
Pinion Investment Advisors
Kansas
$6.98M +$2.89M +56,673 +71%
UCFA
5
United Capital Financial Advisors
Texas
$5.04M +$5.02M +98,395 New
CAWM
6
Capital Advisors Wealth Management
Washington
$4.85M +$4M +78,279 +474%
RPGK
7
Retirement Planning Group (Kansas)
Kansas
$4.53M +$786K +15,399 +21%
GPW
8
Gentry Private Wealth
Kansas
$4.42M +$1.86M +36,450 +73%
Goldman Sachs
9
Goldman Sachs
New York
$3.93M +$1.53M +29,966 +64%
SFS
10
Sowell Financial Services
Arkansas
$3.6M +$74.3K +1,455 +2%
FFA
11
Farther Finance Advisors
California
$3.12M +$3.12M +61,010 New
BFG
12
Berger Financial Group
Minnesota
$3.04M -$158K -3,101 -5%
Jane Street
13
Jane Street
New York
$2.61M +$1.7M +33,196 +186%
FTUS
14
Flow Traders U.S.
New York
$2.13M -$3.08M -60,263 -59%
JP Morgan Chase
15
JP Morgan Chase
New York
$1.82M -$97.1K -1,902 -5%
RWA
16
Redhawk Wealth Advisors
Minnesota
$1.68M +$1.68M +32,846 New
P
17
&Partners
Tennessee
$1.17M +$84.4K +1,652 +8%
FAT
18
First American Trust
California
$1.02M +$601K +11,762 +146%
AC
19
Asio Capital
Kentucky
$697K +$695K +13,611 New
EH
20
Equitable Holdings
New York
$605K +$604K +11,827 New
CGFA
21
Colton Groome Financial Advisors
North Carolina
$584K +$582K +11,405 New
MFG
22
Magnus Financial Group
New York
$560K +$559K +10,940 New
LWMNY
23
Landmark Wealth Management (New York)
New York
$558K -$23K -451 -4%
LPL Financial
24
LPL Financial
California
$541K +$539K +10,561 New
WCG
25
Weaver Consulting Group
California
$537K +$536K +10,500 New
1
2

GMUB Hedge Fund Activity: Q4 2025 in Review

39 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Goldman Sachs Municipal Income ETF (GMUB) for Q4 2025, worth a combined $130M — up 30% from $100M a quarter earlier.

Buyers outnumbered sellers: 20 funds opened new GMUB positions and 1 closed out — a net gain of 19 holders — while 12 added to existing stakes and 6 trimmed.

The largest buyer was GoalVest Advisory, adding an estimated $5.88M. The largest seller was Flow Traders U.S., cutting an estimated $3.08M.

  • 39 institutional investors held Goldman Sachs Municipal Income ETF (GMUB) as of Q4 2025, up from 22 in Q3 2025.
  • Funds reported $130M of Goldman Sachs Municipal Income ETF stock for Q4 2025, up 30% quarter-over-quarter.
  • 20 funds opened new Goldman Sachs Municipal Income ETF positions in Q4 2025 and 1 closed out, a net change of +19 holders.
  • The largest Goldman Sachs Municipal Income ETF buyer in Q4 2025 was GoalVest Advisory, an estimated $5.88M added.
  • The largest Goldman Sachs Municipal Income ETF seller in Q4 2025 was Flow Traders U.S., an estimated $3.08M sold.

Based on aggregated 13F filings for Q4 2025.