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Nuveen AMT-Free Quality Municipal Income Fund
NEA

318 hedge funds and large institutions have $832M invested in Nuveen AMT-Free Quality Municipal Income Fund in 2025 Q1 according to their latest regulatory filings, with 33 funds opening new positions, 112 increasing their positions, 92 reducing their positions, and 35 closing their positions.

New
Increased
Maintained
Reduced
Closed

22% more repeat investments, than reductions

Existing positions increased: 112 | Existing positions reduced: 92

6% less first-time investments, than exits

New positions opened: 33 | Existing positions closed: 35

2% less funds holding

Funds holding: 324 → 318 (-6)

3.19% less ownership

Funds ownership: 28.03% → 24.84% (-3.2%)

12% less capital invested

Capital invested by funds: $947M → $832M (-$115M)

14% less funds holding in top 10

Funds holding in top 10: 7 → 6 (-1)

Holders
318
Holders Change
-6
Holders Change %
-1.85%
% of All Funds
4.26%
Holding in Top 10
6
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-14.29%
% of All Funds
0.08%
New
33
Increased
112
Reduced
92
Closed
35
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$7.34M
2
Wells Fargo
Wells Fargo
California
+$6.89M
3
Citadel Advisors
Citadel Advisors
Florida
+$4.05M
4
Bank of America
Bank of America
North Carolina
+$2.85M
5
LPL Financial
LPL Financial
California
+$1.72M

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$52.6M
2
RCM
Rivernorth Capital Management
Florida
-$18.1M
3
Pathstone Holdings
Pathstone Holdings
New Jersey
-$15.7M
4
SIA
Sit Investment Associates
Minnesota
-$8.14M
5
RCM
Robinson Capital Management
Michigan
-$6.49M
Name Holding Trade Value Shares
Change 		Change in
Stake
IA
326
IFC Advisors
California
– -$1.5M -132,597 Closed
LCM
327
Landscape Capital Management
New Jersey
– -$1.1M -97,184 Closed
NAS
328
NWF Advisory Services
California
– -$1.05M -92,822 Closed
AGM
329
Alpine Global Management
New York
– -$790K -70,000 Closed
IAA
330
Independent Advisor Alliance
North Carolina
– -$602K -53,393 Closed
RP
331
Riverbridge Partners
Minnesota
– -$475K -42,072 Closed
PAS
332
Park Avenue Securities
New York
– -$347K -30,744 Closed
FCM
333
Family Capital Management
Michigan
– -$332K -29,407 Closed
SIA
334
Schechter Investment Advisors
Michigan
– -$262K -23,236 Closed
IWM
335
IHT Wealth Management
Illinois
– -$221K -19,626 Closed
Nomura Holdings
336
Nomura Holdings
Japan
– -$214K -19,000 Closed
MAM
337
Milestone Asset Management
Pennsylvania
– -$186K -16,521 Closed
CTC
338
Central Trust Company
Missouri
– -$184K -16,282 Closed
TL
339
Tradewinds LLC
North Carolina
– -$142K -12,262 Closed
AF
340
Apexium Financial
Texas
– -$133K -11,805 Closed
TIAA Trust, National Association
341
TIAA Trust, National Association
North Carolina
– -$123K -10,924 Closed
SF
342
Summit Financial
New Jersey
– -$122K -10,838 Closed
CFGSD
343
Compass Financial Group (South Dakota)
South Dakota
– -$113K -10,001 Closed
WT
344
Washington Trust
Rhode Island
– -$62.3K -5,523 Closed
FCT
345
First Community Trust
Iowa
– -$37.2K -3,299 Closed
Fifth Third Bancorp
346
Fifth Third Bancorp
Ohio
– -$33.3K -2,950 Closed
CT
347
Coastline Trust
Rhode Island
– -$17.5K -1,549 Closed
CFB
348
Cullen/Frost Bankers
Texas
– -$16.2K -1,439 Closed
MFG
349
Menard Financial Group
Texas
– -$13.4K -1,187 Closed
GIA
350
GHP Investment Advisors
Colorado
– -$13.4K -1,185 Closed
11 12 13
14
15

NEA Hedge Fund Activity: Q1 2025 in Review

318 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Nuveen AMT-Free Quality Municipal Income Fund (NEA) for Q1 2025, worth a combined $832M — down 12% from $947M a quarter earlier.

Sellers outnumbered buyers: 35 funds closed out of NEA and 33 opened new positions — a net loss of 2 holders — while 92 trimmed existing stakes and 112 added.

The largest buyer was Morgan Stanley, adding an estimated $7.34M. The largest seller was Karpus Investment Management, cutting an estimated $52.6M.

  • 318 institutional investors held Nuveen AMT-Free Quality Municipal Income Fund (NEA) as of Q1 2025, down from 324 in Q4 2024.
  • Funds reported $832M of Nuveen AMT-Free Quality Municipal Income Fund stock for Q1 2025, down 12% quarter-over-quarter.
  • 33 funds opened new Nuveen AMT-Free Quality Municipal Income Fund positions in Q1 2025 and 35 closed out, a net change of -2 holders.
  • The largest Nuveen AMT-Free Quality Municipal Income Fund buyer in Q1 2025 was Morgan Stanley, an estimated $7.34M added.
  • The largest Nuveen AMT-Free Quality Municipal Income Fund seller in Q1 2025 was Karpus Investment Management, an estimated $52.6M sold.

Based on aggregated 13F filings for Q1 2025.