Columbia Multi-Sector Municipal Income ETF
MUST
79 hedge funds and large institutions have $370M invested in Columbia Multi-Sector Municipal Income ETF in 2025 Q4 according to their latest regulatory filings, with 6 funds opening new positions, 38 increasing their positions, 22 reducing their positions, and 12 closing their positions.
75% more capital inflows, than outflows
Capital inflows: $51M | Capital outflows: $29.1M
73% more repeat investments, than reductions
Existing positions increased: 38 | Existing positions reduced: 22
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
1.46% less ownership
Funds ownership: 71.67% → 70.21% (-1.5%)
8% less funds holding
Funds holding: 86 → 79 (-7)
50% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$28M |
| 2 |
LPL Financial
San Diego,
California
|
+$6.33M |
| 3 |
JP Morgan Chase
New York
|
+$2.94M |
| 4 |
Ameriprise
Minneapolis,
Minnesota
|
+$2.17M |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$1.89M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
-$21.2M |
| 2 |
Flow Traders U.S.
New York
|
-$1.75M |
| 3 |
Natixis Advisors
Boston,
Massachusetts
|
-$1.03M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$780K |
| 5 |
Jane Street
New York
|
-$535K |
MUST Hedge Fund Activity: Q4 2025 in Review
79 of the 8,302 institutional investors tracked by Wall St. Rank reported a position in Columbia Multi-Sector Municipal Income ETF (MUST) for Q4 2025, worth a combined $370M — up 6.7% from $347M a quarter earlier.
Sellers outnumbered buyers: 12 funds closed out of MUST and 6 opened new positions — a net loss of 6 holders — while 22 trimmed existing stakes and 38 added.
The largest buyer was Morgan Stanley, adding an estimated $28M. The largest seller was Wells Fargo, cutting an estimated $21.2M.
- 79 institutional investors held Columbia Multi-Sector Municipal Income ETF (MUST) as of Q4 2025, down from 86 in Q3 2025.
- Funds reported $370M of Columbia Multi-Sector Municipal Income ETF stock for Q4 2025, up 6.7% quarter-over-quarter.
- 6 funds opened new Columbia Multi-Sector Municipal Income ETF positions in Q4 2025 and 12 closed out, a net change of -6 holders.
- The largest Columbia Multi-Sector Municipal Income ETF buyer in Q4 2025 was Morgan Stanley, an estimated $28M added.
- The largest Columbia Multi-Sector Municipal Income ETF seller in Q4 2025 was Wells Fargo, an estimated $21.2M sold.
Based on aggregated 13F filings for Q4 2025.