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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
DB
426
Dravo Bay
Delaware
$4.52M -$1.4M -13,455 -24%
CTB
427
Country Trust Bank
Illinois
$4.51M
TIA
428
Traphagen Investment Advisors
New Jersey
$4.51M +$526K +5,058 +13%
CG
429
Clifford Group
Massachusetts
$4.5M +$54.1K +520 +1%
FBFS
430
First Business Financial Services
Wisconsin
$4.5M -$50.9K -490 -1%
JIC
431
Joel Isaacson & Co
New York
$4.45M +$13K +125 +0.3%
OCG
432
Opus Capital Group
Ohio
$4.43M -$3.8M -36,575 -46%
VFA
433
Valeo Financial Advisors
Indiana
$4.39M +$4.09M +39,310 +1,444%
SF
434
Synovus Financial
Georgia
$4.37M +$77.2K +743 +2%
SA
435
Sovran Advisors
California
$4.36M +$503K +4,836 +13%
KWM
436
Kingsview Wealth Management
Oregon
$4.35M -$3.81M -36,673 -47%
AWM
437
Austin Wealth Management
Texas
$4.32M +$4.32M +41,554 New
WCA
438
Westover Capital Advisors
Delaware
$4.25M +$4.23M +40,702 New
BWA
439
Burt Wealth Advisors
Maryland
$4.24M -$2.85M -27,368 -40%
CW
440
CreativeOne Wealth
Kansas
$4.21M -$216K -2,073 -5%
LPP
441
Life Planning Partners
Florida
$4.18M +$135K +1,296 +3%
JBA
442
Johnson Bixby & Associates
Washington
$4.14M +$294K +2,829 +8%
FNT
443
First National Trust
Pennsylvania
$4.13M -$1.07M -10,328 -21%
AWE
444
Avidian Wealth Enterprises
Texas
$4.13M -$284K -2,735 -6%
BHWM
445
Beaird Harris Wealth Management
Texas
$4.09M +$897K +8,623 +28%
AIP
446
Ameritas Investment Partners
Nebraska
$4.08M +$65.5K +630 +2%
GBT
447
Grove Bank & Trust
Florida
$4.04M -$148K -1,425 -4%
BWM
448
BCGM Wealth Management
Indiana
$4.04M -$394K -3,790 -9%
William Blair & Company
449
William Blair & Company
Illinois
$3.99M +$412K +3,958 +12%
PPWP
450
Premier Path Wealth Partners
New Jersey
$3.99M -$969K -9,319 -20%

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.