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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
CCM
1251
Charter Capital Management
Wisconsin
$307K +$305K +2,937 New
BF
1252
Bonfire Financial
Colorado
$307K +$305K +2,936 New
GCM
1253
Gallacher Capital Management
Colorado
$306K -$13.7K -132 -4%
AFO
1254
Arrowroot Family Office
California
$305K +$304K +2,923 New
AFAS
1255
Acorn Financial Advisory Services
Virginia
$305K -$64.9K -624 -18%
TNBTD
1256
Trustmark National Bank Trust Department
Mississippi
$304K
PAS
1257
PKS Advisory Services
New York
$302K +$2.39K +23 +0.8%
CA
1258
Cumberland Advisors
Florida
$302K -$39K -375 -11%
MFA
1259
Millington Financial Advisors
Illinois
$302K +$51.7K +497 +21%
VAG
1260
VisionPoint Advisory Group
Texas
$301K +$299K +2,877 New
IWP
1261
Innova Wealth Partners
Pennsylvania
$300K -$5.2K -50 -2%
BP
1262
BBR Partners
New York
$300K
RWM
1263
Riverbend Wealth Management
South Carolina
$299K -$1.77K -17 -0.6%
SFP
1264
Shepherd Financial Partners
Massachusetts
$299K +$297K +2,861 New
UIM
1265
Unified Investment Management
Georgia
$298K
IWN
1266
Independent Wealth Network
Iowa
$298K +$48.2K +464 +19%
QPWM
1267
Quadrant Private Wealth Management
Pennsylvania
$296K +$295K +2,835 New
KFGK
1268
Keystone Financial Group (Kentucky)
Kentucky
$295K +$68K +654 +30%
PL
1269
Plancorp LLC
Missouri
$295K +$293K +2,820 New
AC
1270
Addison Capital
Pennsylvania
$294K
FCA
1271
FLC Capital Advisors
California
$294K +$75.7K +728 +35%
HKIM
1272
Hayek Kallen Investment Management
Alabama
$293K +$291K +2,800 New
TPWA
1273
TRUE Private Wealth Advisors
Oregon
$293K -$43.8K -421 -13%
MTIM
1274
Marathon Trading Investment Management
Pennsylvania
$293K +$291K +2,800 New
BO
1275
Bank OZK
Arkansas
$292K +$5.51K +53 +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.