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iShares National Muni Bond ETF

1,536 hedge funds and large institutions have $34.5B invested in iShares National Muni Bond ETF in 2025 Q2 according to their latest regulatory filings, with 156 funds opening new positions, 561 increasing their positions, 646 reducing their positions, and 100 closing their positions.

New
Increased
Maintained
Reduced
Closed

163% more call options, than puts

Call options by funds: $593M | Put options by funds: $226M

56% more first-time investments, than exits

New positions opened: 156 | Existing positions closed: 100

3% more funds holding

Funds holding: 1,4981,536 (+38)

0.1% more ownership

Funds ownership: 89.08%89.18% (+0.1%)

3% less capital invested

Capital invested by funds: $35.3B → $34.5B (-$893M)

9% less funds holding in top 10

Funds holding in top 10: 117106 (-11)

13% less repeat investments, than reductions

Existing positions increased: 561 | Existing positions reduced: 646

Holders
1,536
Holders Change
+38
Holders Change %
+2.54%
% of All Funds
20.22%
Holding in Top 10
106
Holding in Top 10 Change
-11
Holding in Top 10 Change %
-9.4%
% of All Funds
1.4%
New
156
Increased
561
Reduced
646
Closed
100
Calls
$593M
Puts
$226M
Net Calls
+$368M
Net Calls Change
+$736M
Name Holding Trade Value Shares
Change
Change in
Stake
DWM
351
Dogwood Wealth Management
Kansas
$6.11M -$221K -2,126 -3%
IMC Chicago
352
IMC Chicago
Illinois
$6.1M -$416K -3,998 -6%
CIM
353
Confluence Investment Management
Missouri
$6.07M +$4.12M +39,642 +215%
2WWM
354
21 West Wealth Management
California
$6.06M +$6.03M +58,013 New
WCM
355
Wealthcare Capital Management
Virginia
$6.05M -$4.78K -46 -0.1%
NDBT
356
North Dallas Bank & Trust
Texas
$6.01M +$5.98M +57,506 New
BNP Paribas Financial Markets
357
BNP Paribas Financial Markets
France
$5.99M +$1.36M +13,044 +29%
ACM
358
AUA Capital Management
Pennsylvania
$5.98M
CISOA
359
Capital Investment Services of America
Wisconsin
$5.92M +$156K +1,500 +3%
WPW
360
Watershed Private Wealth
Illinois
$5.92M +$700K +6,729 +13%
Simplex Trading
361
Simplex Trading
Illinois
$5.9M -$2.24M -21,501 -28%
FBB
362
Fulton Breakefield Broenniman
Maryland
$5.89M -$1.05M -10,072 -15%
HI
363
Horizon Investments
North Carolina
$5.89M -$5.02M -48,240 -46%
VAG
364
Vannoy Advisory Group
Texas
$5.83M +$119K +1,149 +2%
FCIM
365
Fairview Capital Investment Management
California
$5.82M +$4.57M +43,925 +374%
DIA
366
Davidson Investment Advisors
Montana
$5.8M -$117K -1,123 -2%
Charles Schwab
367
Charles Schwab
California
$5.79M -$951M -9,144,588 -99%
PFS
368
Prospera Financial Services
Texas
$5.78M +$788K +7,580 +16%
KFG
369
Kingdom Financial Group
Arizona
$5.78M -$8.37M -80,471 -59%
AFP
370
Alpha Financial Partners
Kentucky
$5.77M -$238K -2,286 -4%
AHC
371
Anderson Hoagland & Co
Missouri
$5.75M +$5.72M +55,057 New
PFM
372
Phillips Financial Management
Indiana
$5.74M -$952K -9,158 -14%
PWM
373
Proathlete Wealth Management
Florida
$5.69M +$310K +2,978 +6%
PFA
374
Pure Financial Advisors
California
$5.69M +$1.63M +15,685 +40%
FM
375
Foster & Motley
Ohio
$5.64M -$1.17M -11,253 -17%

MUB Hedge Fund Activity: Q2 2025 in Review

1,536 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in iShares National Muni Bond ETF (MUB) for Q2 2025, worth a combined $34.5B — down 2.5% from $35.3B a quarter earlier.

Buyers outnumbered sellers: 156 funds opened new MUB positions and 100 closed out — a net gain of 56 holders — while 561 added to existing stakes and 646 trimmed.

The largest buyer was Fidelity Investments, adding an estimated $552M. The largest seller was Charles Schwab, cutting an estimated $951M.

  • 1,536 institutional investors held iShares National Muni Bond ETF (MUB) as of Q2 2025, up from 1,498 in Q1 2025.
  • Funds reported $34.5B of iShares National Muni Bond ETF stock for Q2 2025, down 2.5% quarter-over-quarter.
  • 156 funds opened new iShares National Muni Bond ETF positions in Q2 2025 and 100 closed out, a net change of +56 holders.
  • The largest iShares National Muni Bond ETF buyer in Q2 2025 was Fidelity Investments, an estimated $552M added.
  • The largest iShares National Muni Bond ETF seller in Q2 2025 was Charles Schwab, an estimated $951M sold.

Based on aggregated 13F filings for Q2 2025.