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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
KWA
851
Kingswood Wealth Advisors
California
$934K -$734K -6,905 -44%
WAL
852
W Advisors LLC
Tennessee
$931K +$64K +602 +7%
DSC
853
Duncker Streett & Co
Missouri
$927K
WWA
854
Wingate Wealth Advisors
Massachusetts
$921K +$2.45K +23 +0.3%
SWM
855
Spire Wealth Management
Virginia
$921K -$157K -1,477 -14%
EFG
856
Ehrlich Financial Group
California
$920K -$12.4K -117 -1%
VA
857
VestGen Advisors
Illinois
$920K +$928K +8,729 New
PCS
858
Private Client Services
Kentucky
$918K -$38.9K -366 -4%
TCM
859
Twele Capital Management
Minnesota
$917K +$13.1K +123 +1%
RL
860
Rogco LP
Oklahoma
$917K +$19.9K +187 +2%
CF
861
Cyr Financial
Illinois
$913K -$44.7K -420 -5%
GAM
862
Gould Asset Management
California
$913K +$31.9K +300 +4%
SSA
863
SSA Swiss Advisors
$900K +$908K +8,540 New
GWS
864
Greykasell Wealth Strategies
California
$897K -$37.6K -354 -4%
CAC
865
Certified Advisory Corp
Florida
$894K +$13.8K +130 +2%
LFG
866
Larson Financial Group
Missouri
$894K +$118K +1,113 +15%
BFG
867
Birch Financial Group
New Hampshire
$890K +$523K +4,919 +140%
OA
868
Operose Advisors
Wisconsin
$889K +$421K +3,961 +89%
AI
869
Arrien Investments
Idaho
$888K
KP
870
Keel Point
Alabama
$887K +$7.76K +73 +0.9%
DWM
871
DecisionMap Wealth Management
Virginia
$886K +$15.2K +143 +2%
LWA
872
LifeGoal Wealth Advisors
New York
$886K -$512K -4,810 -36%
ECM
873
Exchange Capital Management
Michigan
$885K -$145K -1,366 -14%
EA
874
Efficient Advisors
Ohio
$883K -$109K -1,027 -11%
SIA
875
Spectrum Investment Advisors
Wisconsin
$871K +$1.28K +12 +0.1%

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.