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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
WB
201
WesBanco Bank
West Virginia
$147K – – –
SWA
202
SFMG Wealth Advisors
Texas
$146K – – –
KWS
203
Keystone Wealth Services
California
$146K – – –
IWA
204
Icon Wealth Advisors
Texas
$141K – – –
PCM
205
Permanent Capital Management
Illinois
$139K -$14K -1,196 -9%
AWM
206
Apollon Wealth Management
South Carolina
$139K +$142K +12,050 New
AIS
207
Accredited Investor Services
Minnesota
$138K +$141K +11,977 New
MWM
208
Maridea Wealth Management
New York
$138K +$716 +61 +0.5%
SCA
209
SMH Capital Advisors
Texas
$136K – – –
SLC
210
Second Line Capital
Louisiana
$135K – – –
TC
211
TownSquare Capital
Utah
$129K +$132K +11,196 New
DAM
212
Delta Asset Management
Tennessee
$127K – – –
TBT
213
Texas Bank & Trust
Texas
$125K – – –
QCIG
214
Quad-Cities Investment Group
Iowa
$125K +$893 +76 +0.7%
Citadel Advisors
215
Citadel Advisors
Florida
$124K +$127K +10,802 New
AAS
216
Avantax Advisory Services
Texas
$124K -$67.1K -5,710 -35%
AIFAIM
217
American Institute for Advanced Investment Management
Arizona
$124K – – –
Bessemer Group
218
Bessemer Group
New Jersey
$124K +$126K +10,765 New
STA
219
Summit Trail Advisors
New York
$124K +$4.09K +348 +3%
SA
220
Strategic Advisors
New York
$122K +$124K +10,589 New
RCA
221
Ranch Capital Advisors
Florida
$121K – – –
FIM
222
Fruth Investment Management
Texas
$120K – – –
NFC
223
Northstar Financial Companies
Pennsylvania
$119K +$121K +10,330 New
VAG
224
VisionPoint Advisory Group
Texas
$119K +$646 +55 +0.5%
KPWS
225
Kestra Private Wealth Services
Texas
$116K +$118K +10,076 New
7 8
9
10 11

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.