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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
PAG
126
Private Advisor Group
New Jersey
$26M +$2.69M +25,863 +12%
ACA
127
Ackerman Capital Advisors
Texas
$25.5M +$16.4M +157,500 +182%
SL
128
Salomon & Ludwin
Virginia
$25.4M +$650K +6,255 +3%
Pathstone Holdings
129
Pathstone Holdings
New Jersey
$25.4M -$7.3M -70,197 -22%
SFM
130
Soros Fund Management
New York
$25.2M
HNB
131
Huntington National Bank
Ohio
$25M
SWP
132
Stratos Wealth Partners
Ohio
$24.7M -$1.14M -10,923 -4%
CAM
133
Cresset Asset Management
Illinois
$24.5M +$9.83M +94,529 +67%
BSWM
134
Boston Standard Wealth Management
Massachusetts
$24.3M +$4.92M +47,346 +26%
LNB
135
Ledyard National Bank
$23.6M -$2.54M -24,409 -10%
WPW
136
Waldron Private Wealth
Pennsylvania
$23.4M -$6.09M -58,590 -21%
BMC
137
Bear Mountain Capital
Washington
$23.1M -$500K -4,812 -2%
KAS
138
Kestra Advisory Services
Texas
$23.1M +$1.76M +16,919 +8%
QWP
139
Quotient Wealth Partners
Texas
$22.9M +$2.9M +27,901 +15%
NA
140
NewEdge Advisors
Louisiana
$22.9M -$638K -6,139 -3%
CIBC Private Wealth Group
141
CIBC Private Wealth Group
Georgia
$22.8M +$11.9M +114,158 +110%
WB
142
WesBanco Bank
West Virginia
$22.5M +$1.53M +14,716 +7%
PPW
143
Parcion Private Wealth
Washington
$22.3M +$22.1M +213,027 New
MWM
144
Modera Wealth Management
New Jersey
$22.2M -$3.13M -30,101 -12%
AWM
145
Axxcess Wealth Management
California
$22.2M +$1.56M +15,025 +8%
CA
146
Crewe Advisors
Utah
$21.8M -$3.02M -29,032 -12%
MWP
147
Meridian Wealth Partners
Pennsylvania
$21.8M +$909K +8,742 +4%
TC
148
Trust Company
Kansas
$21.7M +$5.53M +53,179 +34%
SWP
149
Sagespring Wealth Partners
Tennessee
$21.6M +$2.36M +22,655 +12%
RFC
150
Regions Financial Corp
Alabama
$21.6M -$1.43M -13,718 -6%

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.