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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
KCM
1076
KM Capital Management
Texas
$498K +$495K +4,763 New
GAG
1077
Goodman Advisory Group
Massachusetts
$497K -$2.29M -22,035 -82%
CWM
1078
Centurion Wealth Management
Virginia
$495K +$35.1K +338 +8%
LCG
1079
Lakeshore Capital Group
Illinois
$493K +$12.3K +118 +3%
AFA
1080
American Financial Advisors
Georgia
$493K -$8.32K -80 -2%
DI
1081
Diligent Investors
California
$491K +$1.04K +10 +0.2%
AAS
1082
Asset Allocation Strategies
Michigan
$490K -$1.35K -13 -0.3%
PJSIMP
1083
P.J. Schmidt Investment Management (PJS)
Wisconsin
$490K -$461K -4,430 -49%
PJWM
1084
Philip James Wealth Mangement
Georgia
$490K -$99.4K -956 -17%
BCP
1085
Blue Chip Partners
Michigan
$488K -$26.5M -255,120 -98%
FPCG
1086
Forum Private Client Group
Indiana
$487K +$51.4K +494 +12%
P
1087
Pitcairn
Pennsylvania
$485K
MCM
1088
Maple Capital Management
Vermont
$482K -$8.32K -80 -2%
FA
1089
FSA Advisors
Michigan
$481K +$30.9K +297 +7%
Vanguard Group
1090
Vanguard Group
Pennsylvania
$480K -$42.4K -408 -8%
BCM
1091
Becker Capital Management
Oregon
$479K -$3.19M -30,642 -87%
SEIA
1092
Signature Estate & Investment Advisors
California
$479K -$152K -1,459 -24%
HFS
1093
Heritage Financial Services
Massachusetts
$477K -$3.33K -32 -0.7%
BFS
1094
BridgePort Financial Solutions
Iowa
$477K
AA
1095
ArborFi Advisors
Michigan
$474K +$83.4K +802 +21%
FTC
1096
Farmers Trust Company
Ohio
$474K
XF
1097
XML Financial
Maryland
$472K +$17.2K +165 +4%
WWP
1098
Waypoint Wealth Partners
California
$471K
VFG
1099
Victory Financial Group
Texas
$470K +$468K +4,503 New
FNB
1100
Farmers National Bank
Kentucky
$470K -$11.3K -109 -2%

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.