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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
WHCI
776
W.H. Cornerstone Investments
Massachusetts
$1.2M +$1.87K +18 +0.2%
JCM
777
Jacobi Capital Management
Pennsylvania
$1.2M -$370K -3,561 -24%
PW
778
PUREfi Wealth
Massachusetts
$1.2M +$1.19M +11,450 New
EWA
779
Etesian Wealth Advisors
Oregon
$1.19M -$325K -3,123 -21%
SIM
780
Synergy Investment Management
Florida
$1.19M -$998K -9,603 -46%
IC
781
Inscription Capital
Texas
$1.18M +$79.5K +765 +7%
SG
782
StoneX Group
New York
$1.18M +$531K +5,111 +83%
GWCM
783
Godshalk Welsh Capital Management
Pennsylvania
$1.18M
MCWS
784
McKinley Carter Wealth Services
West Virginia
$1.18M -$1.37M -13,223 -54%
KFSC
785
Keystone Financial Services (Colorado)
Colorado
$1.18M -$1.04K -10 -0.1%
CFGF
786
Compass Financial Group (Florida)
Florida
$1.17M +$22.8K +219 +2%
RCS
787
Retirement Capital Strategies
California
$1.17M -$156K -1,501 -12%
YWM
788
Yardley Wealth Management
Pennsylvania
$1.17M -$54.2K -521 -4%
BOSSRA
789
B.O.S.S. Retirement Advisors
Utah
$1.15M -$57.3K -551 -5%
SGCA
790
Steel Grove Capital Advisors
Tennessee
$1.15M -$46.7K -449 -4%
WJA
791
Willis Johnson & Associates
Texas
$1.15M +$726K +6,984 +174%
OC
792
Oarsman Capital
Wisconsin
$1.15M
LPAM
793
Lodestar Private Asset Management
California
$1.14M -$239K -2,301 -17%
EFG
794
Everhart Financial Group
Ohio
$1.14M -$377K -3,625 -25%
VPP
795
Vertex Planning Partners
Illinois
$1.13M +$80.1K +770 +8%
BIM
796
Breakwater Investment Management
Washington
$1.13M -$119K -1,145 -10%
NA
797
Note Advisors
New York
$1.12M -$125K -1,201 -10%
FPGK
798
Financial Partners Group (Kansas)
Kansas
$1.12M -$344K -3,308 -24%
NFTC
799
North Forty Two & Co
Oregon
$1.12M
TI
800
Truepoint Inc
Ohio
$1.11M +$1.1M +10,622 New

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.