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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
CB
101
Commerce Bank
Missouri
$33.6M -$2.37M -22,799 -7%
CPCM
102
Cardinal Point Capital Management
Ontario, Canada
$33.5M -$1.09M -10,528 -3%
CWM
103
Cahaba Wealth Management
Georgia
$32.9M -$749K -7,203 -2%
IWC
104
Integrated Wealth Concepts
Massachusetts
$32.9M +$81.6K +785 +0.3%
Cambridge Investment Research Advisors
105
Cambridge Investment Research Advisors
Iowa
$32.3M +$3.78M +36,360 +13%
RWM
106
Rockwood Wealth Management
Pennsylvania
$32M +$31.5M +303,080 +8,382%
DL
107
DOHJ LLC
Washington
$31.6M -$1.34M -12,921 -4%
Susquehanna International Group
108
Susquehanna International Group
Pennsylvania
$31.2M -$86.5M -831,866 -74%
GC
109
Garde Capital
Washington
$30.9M +$1.83M +17,648 +6%
OSAM
110
O'Shaughnessy Asset Management
Connecticut
$30.9M -$3.82M -36,726 -11%
M&T Bank
111
M&T Bank
New York
$29.9M -$1.54M -14,842 -5%
SFG
112
SNS Financial Group
Minnesota
$29.9M -$677K -6,514 -2%
SAG
113
SageView Advisory Group
California
$29.8M +$2.25M +21,617 +8%
SDWMA
114
Schneider Downs Wealth Management Advisors
Pennsylvania
$29.7M -$1.28M -12,335 -4%
DWM
115
Dynasty Wealth Management
Florida
$29.3M +$745K +7,170 +3%
IWA
116
Icon Wealth Advisors
Texas
$28.6M +$3.98M +38,286 +16%
CL
117
Choreo LLC
Illinois
$28.4M +$4.07M +39,129 +17%
SI
118
Seeds Investor
New York
$27.3M +$2.15M +20,723 +9%
PMFA
119
Plante Moran Financial Advisors
Michigan
$27.3M -$3.36M -32,329 -11%
CIP
120
Capital Insight Partners
Arizona
$27M -$924K -8,884 -3%
LS
121
Liquid Strategies
Georgia
$26.6M -$3.86M -37,104 -13%
GSIS
122
Global Strategic Investment Solutions
Arizona
$26.5M -$23.6M -226,812 -47%
Natixis Advisors
123
Natixis Advisors
Massachusetts
$26.4M -$17.5M -168,778 -40%
PAMP
124
Polar Asset Management Partners
Ontario, Canada
$26.1M +$26M +250,000 New
AWM
125
Avior Wealth Management
Nebraska
$26M +$5.24M +50,353 +25%

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.