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iShares National Muni Bond ETF

1,498 hedge funds and large institutions have $35.3B invested in iShares National Muni Bond ETF in 2025 Q1 according to their latest regulatory filings, with 120 funds opening new positions, 587 increasing their positions, 608 reducing their positions, and 115 closing their positions.

New
Increased
Maintained
Reduced
Closed

4% more first-time investments, than exits

New positions opened: 120 | Existing positions closed: 115

0.44% less ownership

Funds ownership: 89.52%89.08% (-0.44%)

3% less repeat investments, than reductions

Existing positions increased: 587 | Existing positions reduced: 608

2% less funds holding

Funds holding: 1,5231,498 (-25)

3% less funds holding in top 10

Funds holding in top 10: 121117 (-4)

5% less capital invested

Capital invested by funds: $37.3B → $35.3B (-$1.91B)

79% less call options, than puts

Call options by funds: $99.1M | Put options by funds: $467M

Holders
1,498
Holders Change
-25
Holders Change %
-1.64%
% of All Funds
20.08%
Holding in Top 10
117
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-3.31%
% of All Funds
1.57%
New
120
Increased
587
Reduced
608
Closed
115
Calls
$99.1M
Puts
$467M
Net Calls
-$368M
Net Calls Change
-$298M
Name Holding Trade Value Shares
Change
Change in
Stake
FCBT
26
First Citizens Bank & Trust
North Carolina
$287M +$9M +84,655 +3%
RWP
27
RWA Wealth Partners
Massachusetts
$283M -$10.4M -97,350 -4%
UBS Group
28
UBS Group
Switzerland
$271M -$6.15M -57,857 -2%
Royal Bank of Canada
29
Royal Bank of Canada
Ontario, Canada
$242M +$50.8M +477,763 +26%
Mariner
30
Mariner
Kansas
$210M +$5.9M +55,484 +3%
MML Investors Services
31
MML Investors Services
Massachusetts
$192M +$10.9M +102,801 +6%
Raymond James Financial
32
Raymond James Financial
Florida
$184M +$67.4M +633,905 +57%
Cetera Investment Advisers
33
Cetera Investment Advisers
Illinois
$170M -$1.59M -14,952 -0.9%
HighTower Advisors
34
HighTower Advisors
Illinois
$168M -$193K -1,815 -0.1%
SFA
35
Sequoia Financial Advisors
Ohio
$166M +$28.1M +264,260 +20%
Ameriprise
36
Ameriprise
Minnesota
$162M +$8.09M +76,031 +5%
Jones Financial Companies
37
Jones Financial Companies
Missouri
$159M -$615K -5,780 -0.4%
CIA
38
Choate Investment Advisors
Massachusetts
$136M +$2.35M +22,128 +2%
OCM
39
One Capital Management
California
$134M +$8.29M +77,977 +7%
S
40
SignatureFD
Georgia
$128M -$13.6M -128,105 -10%
CAPTRUST Financial Advisors
41
CAPTRUST Financial Advisors
North Carolina
$128M +$8.52M +80,133 +7%
Goldman Sachs
42
Goldman Sachs
New York
$126M +$8.75M +82,277 +7%
Citigroup
43
Citigroup
New York
$122M +$5.99M +56,337 +5%
Susquehanna International Group
44
Susquehanna International Group
Pennsylvania
$119M +$104M +976,434 +635%
AAS
45
Avantax Advisory Services
Texas
$114M -$8.62M -81,048 -7%
WANY
46
Wealthspire Advisors (New York)
New York
$109M +$47.8M +449,545 +77%
OFG
47
Oxford Financial Group
Indiana
$101M +$315K +2,961 +0.3%
EWA
48
EP Wealth Advisors
California
$100M -$10.8M -101,456 -10%
Truist Financial
49
Truist Financial
North Carolina
$96.5M -$27.9M -262,537 -22%
FWI
50
Facet Wealth Inc
Maryland
$91.1M -$71.7M -674,153 -43%

MUB Hedge Fund Activity: Q1 2025 in Review

1,498 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in iShares National Muni Bond ETF (MUB) for Q1 2025, worth a combined $35.3B — down 5.1% from $37.3B a quarter earlier.

Buyers outnumbered sellers: 120 funds opened new MUB positions and 115 closed out — a net gain of 5 holders — while 587 added to existing stakes and 608 trimmed.

The largest buyer was D.E. Shaw & Co, adding an estimated $196M. The largest seller was Bank of America, cutting an estimated $217M.

  • 1,498 institutional investors held iShares National Muni Bond ETF (MUB) as of Q1 2025, down from 1,523 in Q4 2024.
  • Funds reported $35.3B of iShares National Muni Bond ETF stock for Q1 2025, down 5.1% quarter-over-quarter.
  • 120 funds opened new iShares National Muni Bond ETF positions in Q1 2025 and 115 closed out, a net change of +5 holders.
  • The largest iShares National Muni Bond ETF buyer in Q1 2025 was D.E. Shaw & Co, an estimated $196M added.
  • The largest iShares National Muni Bond ETF seller in Q1 2025 was Bank of America, an estimated $217M sold.

Based on aggregated 13F filings for Q1 2025.