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Nuveen Quality Municipal Income Fund
NAD

285 hedge funds and large institutions have $740M invested in Nuveen Quality Municipal Income Fund in 2025 Q1 according to their latest regulatory filings, with 31 funds opening new positions, 96 increasing their positions, 72 reducing their positions, and 36 closing their positions.

New
Increased
Maintained
Reduced
Closed

33% more repeat investments, than reductions

Existing positions increased: 96 | Existing positions reduced: 72

3.13% less ownership

Funds ownership: 30.51% → 27.38% (-3.1%)

3% less funds holding

Funds holding: 295 → 285 (-10)

14% less first-time investments, than exits

New positions opened: 31 | Existing positions closed: 36

26% less capital invested

Capital invested by funds: $1B → $740M (-$260M)

29% less funds holding in top 10

Funds holding in top 10: 7 → 5 (-2)

Holders
285
Holders Change
-10
Holders Change %
-3.39%
% of All Funds
3.82%
Holding in Top 10
5
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-28.57%
% of All Funds
0.07%
New
31
Increased
96
Reduced
72
Closed
36
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$6.61M
2
CA
Cornerstone Advisory
Maryland
+$3.85M
3
UBS Group
UBS Group
Switzerland
+$3.51M
4
Bank of America
Bank of America
North Carolina
+$3.17M
5
LPL Financial
LPL Financial
California
+$2.72M

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$31.6M
2
RCM
Rivernorth Capital Management
Florida
-$22M
3
Pathstone Holdings
Pathstone Holdings
New Jersey
-$15.6M
4
SIA
Sit Investment Associates
Minnesota
-$9.17M
5
HWAM
Hennion & Walsh Asset Management
New Jersey
-$6.87M
Name Holding Trade Value Shares
Change 		Change in
Stake
SFC
126
Summit Financial Consulting
Michigan
$364K +$371K +31,605 New
FAG
127
Fortitude Advisory Group
Washington
$363K – – –
GC
128
Gould Capital
Washington
$353K -$24.6K -2,093 -6%
DADC
129
D.A. Davidson & Co
Montana
$347K – – –
Northern Trust
130
Northern Trust
Illinois
$346K +$352K +30,000 New
IFG
131
Independent Financial Group
California
$341K +$12.7K +1,079 +4%
TIAA Trust, National Association
132
TIAA Trust, National Association
North Carolina
$340K +$189K +16,049 +119%
PCA
133
Peddock Capital Advisors
Massachusetts
$337K – – –
SFS
134
Sowell Financial Services
Arkansas
$330K +$59.7K +5,082 +22%
WAP
135
Wealthcare Advisory Partners
Pennsylvania
$328K -$1.26K -107 -0.4%
Wealth Enhancement Advisory Services
136
Wealth Enhancement Advisory Services
Minnesota
$326K +$4.75K +404 +1%
Brown Advisory
137
Brown Advisory
Maryland
$325K -$14.3K -1,214 -4%
EC
138
Elequin Capital
New York
$324K +$330K +28,082 New
MML Investors Services
139
MML Investors Services
Massachusetts
$310K +$92.9K +7,912 +42%
CAPTRUST Financial Advisors
140
CAPTRUST Financial Advisors
North Carolina
$309K +$111K +9,409 +54%
BAM
141
Belpointe Asset Management
Nevada
$306K +$90K +7,665 +41%
CPIG
142
Chicago Partners Investment Group
Illinois
$303K +$5.85K +498 +2%
IWC
143
Integrated Wealth Concepts
Massachusetts
$293K -$11.1K -942 -4%
WMA
144
Wealth Management Associates
New Jersey
$288K – – –
RIA
145
Realta Investment Advisors
Delaware
$278K – – –
Jane Street
146
Jane Street
New York
$274K +$280K +23,803 New
PS
147
Portfolio Strategies
New York
$273K -$192K -16,331 -41%
SWM
148
Spire Wealth Management
Virginia
$260K +$58.7K +5,000 +28%
MG
149
Marex Group
$253K -$337K -28,673 -57%
CFGSD
150
Compass Financial Group (South Dakota)
South Dakota
$253K +$881 +75 +0.3%
4 5
6
7 8

NAD Hedge Fund Activity: Q1 2025 in Review

285 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Nuveen Quality Municipal Income Fund (NAD) for Q1 2025, worth a combined $740M — down 26% from $1B a quarter earlier.

Sellers outnumbered buyers: 36 funds closed out of NAD and 31 opened new positions — a net loss of 5 holders — while 72 trimmed existing stakes and 96 added.

The largest buyer was Morgan Stanley, adding an estimated $6.61M. The largest seller was Karpus Investment Management, cutting an estimated $31.6M.

  • 285 institutional investors held Nuveen Quality Municipal Income Fund (NAD) as of Q1 2025, down from 295 in Q4 2024.
  • Funds reported $740M of Nuveen Quality Municipal Income Fund stock for Q1 2025, down 26% quarter-over-quarter.
  • 31 funds opened new Nuveen Quality Municipal Income Fund positions in Q1 2025 and 36 closed out, a net change of -5 holders.
  • The largest Nuveen Quality Municipal Income Fund buyer in Q1 2025 was Morgan Stanley, an estimated $6.61M added.
  • The largest Nuveen Quality Municipal Income Fund seller in Q1 2025 was Karpus Investment Management, an estimated $31.6M sold.

Based on aggregated 13F filings for Q1 2025.