iShares National Muni Bond ETF
MUB
1,505 hedge funds and large institutions have $35.4B invested in iShares National Muni Bond ETF in 2025 Q1 according to their latest regulatory filings, with 120 funds opening new positions, 592 increasing their positions, 610 reducing their positions, and 115 closing their positions.
4% more first-time investments, than exits
New positions opened: 120 | Existing positions closed: 115
0.45% less ownership
Funds ownership: 89.55% → 89.1% (-0.45%)
3% less repeat investments, than reductions
Existing positions increased: 592 | Existing positions reduced: 610
2% less funds holding
Funds holding: 1,529 → 1,505 (-24)
3% less funds holding in top 10
Funds holding in top 10: 122 → 118 (-4)
20% less capital inflows, than outflows
Capital inflows: $1.81B | Capital outflows: $2.28B
79% less call options, than puts
Call options by funds: $99.1M | Put options by funds: $467M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
D.E. Shaw & Co
New York
|
+$196M |
| 2 |
Allstate Corporation
Northbrook,
Illinois
|
+$153M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$104M |
| 4 |
Charles Schwab
San Francisco,
California
|
+$85.3M |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
+$67.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$217M |
| 2 |
Jane Street
New York
|
-$201M |
| 3 |
Park Avenue Securities
New York
|
-$110M |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
-$96.9M |
| 5 |
Envestnet Asset Management
Chicago,
Illinois
|
-$94.9M |
MUB Hedge Fund Activity: Q1 2025 in Review
1,505 of the 7,487 institutional investors tracked by Wall St. Rank reported a position in iShares National Muni Bond ETF (MUB) for Q1 2025, worth a combined $35.4B — down 2.5% from $36.2B a quarter earlier.
Buyers outnumbered sellers: 120 funds opened new MUB positions and 115 closed out — a net gain of 5 holders — while 592 added to existing stakes and 610 trimmed.
The largest buyer was D.E. Shaw & Co, adding an estimated $196M. The largest seller was Bank of America, cutting an estimated $217M.
- 1,505 institutional investors held iShares National Muni Bond ETF (MUB) as of Q1 2025, down from 1,529 in Q4 2024.
- Funds reported $35.4B of iShares National Muni Bond ETF stock for Q1 2025, down 2.5% 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.