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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
BAAM
501
Baker Avenue Asset Management
California
$3.19M -$348K -3,351 -10%
ZBNA
502
Zions Bancorporation, National Association
Utah
$3.19M +$2.43M +23,376 +327%
BFG
503
Bleakley Financial Group
New Jersey
$3.17M -$905K -8,704 -22%
BMCM
504
Bryn Mawr Capital Management
Pennsylvania
$3.14M +$722K +6,942 +30%
IC
505
IEQ Capital
California
$3.12M +$1.04M +9,995 +50%
TWM
506
Trinity Wealth Management
Pennsylvania
$3.09M -$2.94M -28,312 -49%
PCIG
507
Partners Capital Investment Group
Massachusetts
$3.05M -$6.49M -62,412 -68%
DWT
508
Dorsey & Whitney Trust
South Dakota
$3.05M +$1.36M +13,051 +81%
SW
509
SteelPeak Wealth
California
$3.05M -$164K -1,582 -5%
SF
510
Symphony Financial
Texas
$3.04M +$56K +539 +2%
CT
511
Caldwell Trust
Florida
$3.04M +$41.6K +400 +1%
WF
512
Wayfinding Financial
Washington
$3.03M +$426K +4,100 +16%
FWM
513
FFT Wealth Management
Pennsylvania
$3.01M -$3.27M -31,405 -52%
GCM
514
Graver Capital Management
Ohio
$3.01M +$93.6K +900 +3%
PA
515
Parallel Advisors
California
$3.01M +$540K +5,190 +22%
SA
516
Sincerus Advisory
New York
$3M -$678K -6,523 -18%
QCM
517
Quantinno Capital Management
New York
$2.98M -$96.8K -931 -3%
MWM
518
McNaughton Wealth Management
California
$2.93M +$757K +7,283 +35%
CCM
519
Crabel Capital Management
California
$2.93M +$2.92M +28,063 New
CFS
520
Cannon Financial Strategists
Georgia
$2.91M -$3.9M -37,481 -57%
WA
521
Wealth Alliance
New York
$2.88M +$743K +7,146 +35%
LFAS
522
Level Four Advisory Services
Texas
$2.86M -$773K -7,438 -21%
MHR
523
Matthew Hamilton Rosenberg
$2.86M -$707K -6,800 -20%
WFPG
524
Waller Financial Planning Group
Ohio
$2.84M +$61.9K +595 +2%
FWA
525
FSM Wealth Advisors
Ohio
$2.8M -$4.85M -46,683 -63%

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.