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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
Baird Financial Group
101
Baird Financial Group
Wisconsin
$34.2M -$6.63M -62,342 -16%
Nisa Investment Advisors
102
Nisa Investment Advisors
Missouri
$34.1M -$1.66M -15,565 -5%
CWM
103
Cahaba Wealth Management
Georgia
$34M +$273K +2,565 +0.8%
DL
104
DOHJ LLC
Washington
$33.6M +$3.89M +36,572 +13%
RIA
105
Retirement Investment Advisors
Oklahoma
$33.5M +$2.41M +22,644 +8%
IWC
106
Integrated Wealth Concepts
Massachusetts
$33.1M +$3.14M +29,557 +10%
FSC
107
Full Sail Capital
Oklahoma
$33.1M -$993K -9,340 -3%
Pathstone Holdings
108
Pathstone Holdings
New Jersey
$33M -$11.6M -108,695 -26%
APP
109
Avantax Planning Partners
Iowa
$32.4M +$641K +6,025 +2%
M&T Bank
110
M&T Bank
New York
$31.8M -$2.47M -23,241 -7%
SDWMA
111
Schneider Downs Wealth Management Advisors
Pennsylvania
$31.3M +$3.07M +28,839 +11%
LFS
112
Lutz Financial Services
Nebraska
$31.1M -$2.35M -22,053 -7%
BlackRock
113
BlackRock
New York
$31M +$11.3M +105,892 +56%
PMFA
114
Plante Moran Financial Advisors
Michigan
$30.9M -$4.87M -45,780 -13%
SFG
115
SNS Financial Group
Minnesota
$30.8M -$151K -1,416 -0.5%
LS
116
Liquid Strategies
Georgia
$30.8M +$3.74M +35,184 +14%
GCM
117
G2 Capital Management
Ohio
$30.2M -$317K -2,982 -1%
GVAG
118
Great Valley Advisor Group
Delaware
$30.1M -$539K -5,065 -2%
WPW
119
Waldron Private Wealth
Pennsylvania
$29.8M -$7.75M -72,898 -21%
GC
120
Garde Capital
Washington
$29.3M +$29.6M +278,139 New
FPCP
121
Fort Point Capital Partners
California
$29M +$1.65M +15,472 +6%
CI
122
CX Institutional
Indiana
$29M +$5.7M +53,575 +24%
DWM
123
Dynasty Wealth Management
Florida
$28.8M -$4.05M -38,087 -12%
Cambridge Investment Research Advisors
124
Cambridge Investment Research Advisors
Iowa
$28.8M -$304K -2,857 -1%
AWS
125
Atria Wealth Solutions
New York
$28.5M -$3.19M -29,958 -10%

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.