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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
SWP
176
Sagespring Wealth Partners
Tennessee
$19.4M +$2.64M +24,824 +16%
LRIA
177
Leonard Rickey Investment Advisors
Washington
$19.4M -$897K -8,437 -4%
MFS
178
McNamara Financial Services
Massachusetts
$19.1M +$1.35M +12,686 +8%
AAP
179
Arax Advisory Partners
Colorado
$18.9M -$814K -7,657 -4%
JFGIW
180
Johnson Financial Group Inc (Wisconsin)
Wisconsin
$18.7M -$3.97M -37,369 -17%
CTA
181
Chesley Taft & Associates
Illinois
$18.7M -$163K -1,530 -0.9%
LGA
182
Lebenthal Global Advisors
New York
$18.4M -$639K -6,012 -3%
FCAM
183
First Citizens Asset Management
North Carolina
$18.2M +$560K +5,264 +3%
AL
184
Aspiriant LLC
California
$18.2M +$618K +5,815 +3%
SHF
185
Stage Harbor Financial
Massachusetts
$18.2M -$242K -2,275 -1%
Lido Advisors
186
Lido Advisors
California
$18.1M -$1.65M -15,479 -8%
AA
187
Alesco Advisors
New York
$18.1M -$874K -8,218 -5%
RI
188
Rinkey Investments
California
$18.1M +$5.65M +53,163 +45%
CAAS
189
Capital Asset Advisory Services
Michigan
$18M -$853K -8,023 -4%
WIA
190
World Investment Advisors
California
$17.8M -$705K -6,625 -4%
CCA
191
Clearwater Capital Advisors
Illinois
$17.7M +$28.2K +265 +0.2%
AWA
192
Alaska Wealth Advisors
Alaska
$17.2M -$1.89M -17,739 -10%
RWB
193
RMR Wealth Builders
New Jersey
$17.1M +$2.11M +19,796 +14%
CFG
194
Citizens Financial Group
Rhode Island
$17.1M -$40.4K -380 -0.2%
HCM
195
Hengehold Capital Management
Ohio
$16.8M +$6.04M +56,782 +55%
SP
196
Symmetry Partners
Connecticut
$16.5M +$891K +8,375 +6%
SP
197
Stairway Partners
Illinois
$16.5M -$43.6K -410 -0.3%
TC
198
Trust Company
Kansas
$16.3M -$3.01M -28,313 -16%
ACA
199
Aptus Capital Advisors
Alabama
$16.2M +$4.9M +46,034 +43%
FMLI
200
Fukoku Mutual Life Insurance
Japan
$16.1M

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.