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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
WPWM
526
Windward Private Wealth Management
Kansas
$2.79M +$1.17M +11,220 +72%
SWA
527
Strategies Wealth Advisors
Michigan
$2.77M +$690K +6,639 +33%
IWM
528
IHT Wealth Management
Illinois
$2.77M -$8.32K -80 -0.3%
IWP
529
Insight Wealth Partners
Texas
$2.77M +$34.6K +333 +1%
AP
530
Americana Partners
Texas
$2.76M +$1.25K +12 +0%
AWMNH
531
Arcadia Wealth Management (New Hampshire)
New Hampshire
$2.74M -$110K -1,057 -4%
BW
532
BIP Wealth
Georgia
$2.74M +$1.24M +11,906 +83%
SC
533
Stephens Consulting
Michigan
$2.74M -$4.95M -47,591 -64%
VAMG
534
Voisard Asset Management Group
Michigan
$2.73M +$1.75M +16,794 +179%
EFP
535
Envision Financial Planning
Tennessee
$2.71M +$2.7M +25,932 New
SWA
536
Safir Wealth Advisors
New Hampshire
$2.71M -$56.7K -545 -2%
SMG
537
Smart Money Group
Texas
$2.71M +$2.43M +23,336 +905%
SWIM
538
Smallwood Wealth Investment Management
New Jersey
$2.7M -$82.4K -793 -3%
AWM
539
Abound Wealth Management
Tennessee
$2.7M +$1.09M +10,462 +68%
AFG
540
ABLE Financial Group
Arizona
$2.66M +$1.42M +13,643 +115%
CWM
541
Cornerstone Wealth Management
Missouri
$2.65M -$8.32K -80 -0.3%
OP
542
ORG Partners
Indiana
$2.65M -$5.3K -51 -0.2%
APC
543
Aspire Private Capital
North Carolina
$2.65M +$12K +115 +0.5%
WLIM
544
White Lighthouse Investment Management
Massachusetts
$2.62M
PWS
545
Physician Wealth Solutions
Nevada
$2.62M -$1.28M -12,296 -33%
AIM
546
AHL Investment Management
Florida
$2.62M +$2.6M +25,036 New
CAG
547
Csenge Advisory Group
Florida
$2.61M -$471K -4,533 -15%
IP
548
Investment Partners
Ohio
$2.59M +$46.6K +448 +2%
VWM
549
Venturi Wealth Management
Texas
$2.59M
SC
550
Stephenson & Company
California
$2.58M

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.