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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
WIM
476
Westside Investment Management
California
$3.56M +$263K +2,529 +8%
BFS
477
Bare Financial Services
Pennsylvania
$3.54M -$489K -4,706 -12%
TFA
478
Tobias Financial Advisors
Florida
$3.53M -$87.6K -843 -2%
SAM
479
Strive Asset Management
Ohio
$3.51M +$466K +4,479 +15%
TWM
480
Topsail Wealth Management
North Carolina
$3.48M +$3.46M +33,275 New
IMA
481
Investment Management Associates
Colorado
$3.47M
ERIC
482
Eagle Rock Investment Company
Georgia
$3.46M -$18.2K -175 -0.5%
Northern Trust
483
Northern Trust
Illinois
$3.43M -$1.54M -14,793 -31%
EWS
484
Eagle Wealth Strategies
New Jersey
$3.4M +$3.38M +32,528 New
HT
485
HAP Trading
New York
$3.37M +$3.36M +32,284 New
ZF
486
Zhang Financial
Michigan
$3.36M -$2.8M -26,920 -46%
WS
487
Wedbush Securities
California
$3.35M -$13.3K -128 -0.4%
VCP
488
Verus Capital Partners
Arizona
$3.34M -$65K -625 -2%
TCM
489
TruNorth Capital Management
Michigan
$3.3M +$1.31M +12,618 +66%
FI
490
Financial Insights
Washington
$3.3M -$6.65K -64 -0.2%
CIAS
491
CFS Investment Advisory Services
New Jersey
$3.28M -$308K -2,965 -9%
MLA
492
My Legacy Advisors
Oregon
$3.28M -$110K -1,061 -3%
SIAP
493
Sterling Investment Advisors (Pennsylvania)
Pennsylvania
$3.27M +$504K +4,850 +18%
IWMA
494
Ironwood Wealth Management (Arizona)
Arizona
$3.27M -$3.93M -37,844 -55%
JGCM
495
Joseph Group Capital Management
Ohio
$3.24M -$225K -2,168 -7%
FFM
496
Forum Financial Management
Illinois
$3.24M -$7.79M -74,902 -71%
SFG
497
SevenBridge Financial Group
Pennsylvania
$3.23M -$240K -2,309 -7%
KeyBank National Association
498
KeyBank National Association
Ohio
$3.21M +$226K +2,176 +8%
BFA
499
Blueprint Financial Advisors
North Carolina
$3.2M +$3.18M +30,598 New
DAS
500
Dynamic Advisor Solutions
Arizona
$3.2M +$69.9K +672 +2%

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.