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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
HIG
851
Heritage Investment Group
Florida
$963K +$958K +9,218 New
WSFS
852
Wilmington Savings Fund Society
Delaware
$962K +$268K +2,581 +39%
DAS
853
Diversify Advisory Services
Utah
$962K -$332K -3,198 -26%
TCM
854
Twele Capital Management
Minnesota
$961K +$51.3K +493 +6%
HSA
855
HBK Sorce Advisory
Pennsylvania
$960K +$138K +1,329 +17%
CAL
856
Capital Advisors Ltd
Ohio
$957K -$26.4K -254 -3%
BWA
857
Bordeaux Wealth Advisors
California
$954K -$35.2K -339 -4%
CWA
858
Continuum Wealth Advisors
New York
$945K +$941K +9,048 New
BDFN
859
Bond & Devick Financial Network
Minnesota
$944K -$342K -3,288 -27%
NP
860
Nilsine Partners
Colorado
$937K -$4.16K -40 -0.4%
ISFAN
861
Investor's Fiduciary Advisor Network
Washington
$930K -$95.8K -921 -9%
AO
862
Advisor OS
Illinois
$929K -$13.1K -126 -1%
RC
863
Roundview Capital
New Jersey
$927K -$13.5K -130 -1%
SFS
864
Sowell Financial Services
Arkansas
$924K -$105K -1,009 -10%
SWGC
865
Summit Wealth Group (Colorado)
Colorado
$923K +$918K +8,834 New
SSW
866
Stone Summit Wealth
Florida
$921K -$297K -2,860 -24%
SIA
867
Strategic Investment Advisors
Michigan
$921K -$49.3K -474 -5%
WAOI
868
Wealth Advisors of Iowa
Iowa
$919K -$72K -693 -7%
EFG
869
Elios Financial Group
Ohio
$918K -$9.88K -95 -1%
CF
870
Cyr Financial
Illinois
$915K +$9.46K +91 +1%
WAL
871
W Advisors LLC
Tennessee
$904K -$18.6K -179 -2%
WWA
872
Wingate Wealth Advisors
Massachusetts
$896K -$17.4K -167 -2%
TPA
873
Trivium Point Advisory
Connecticut
$893K -$76.3K -734 -8%
SSWM
874
Sheets Smith Wealth Management
North Carolina
$892K -$52K -500 -6%
CWMG
875
Compass Wealth Management (Georgia)
Georgia
$889K +$885K +8,508 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.