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Nuveen Municipal Credit Income Fund
NZF

232 hedge funds and large institutions have $437M invested in Nuveen Municipal Credit Income Fund in 2025 Q3 according to their latest regulatory filings, with 20 funds opening new positions, 82 increasing their positions, 63 reducing their positions, and 29 closing their positions.

New
Increased
Maintained
Reduced
Closed

30% more repeat investments, than reductions

Existing positions increased: 82 | Existing positions reduced: 63

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

0.13% less ownership

Funds ownership: 19.42% → 19.29% (-0.13%)

3% less capital invested

Capital invested by funds: $449M → $437M (-$12M)

5% less funds holding

Funds holding: 243 → 232 (-11)

31% less first-time investments, than exits

New positions opened: 20 | Existing positions closed: 29

Holders
232
Holders Change
-11
Holders Change %
-4.53%
% of All Funds
3.04%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
20
Increased
82
Reduced
63
Closed
29
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
GP
Gridiron Partners
Pennsylvania
+$31.3M
2
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$2.3M
3
Bank of America
Bank of America
North Carolina
+$2.04M
4
GC
Guggenheim Capital
Illinois
+$1.54M
5
CC
CF Capital
Massachusetts
+$1.25M

Top Sellers

Rank Fund Capital Flow
1
MSL
Mackay Shields LLC
New York
-$18.8M
2
RCM
Rivernorth Capital Management
Florida
-$9.66M
3
UBS Group
UBS Group
Switzerland
-$3.56M
4
SIA
Sit Investment Associates
Minnesota
-$3.23M
5
Morgan Stanley
Morgan Stanley
New York
-$3.14M
Name Holding Trade Value Shares
Change 		Change in
Stake
HWP
226
Highline Wealth Partners
California
$8.16K +$7.8K +650 New
PS
227
Principal Securities
Iowa
$8.06K +$156 +13 +2%
SA
228
Scarborough Advisors
Maryland
$6.87K – – –
CAM
229
Creekmur Asset Management
Illinois
$5.82K – – –
GWSG
230
GPS Wealth Strategies Group
Colorado
$3.89K – – –
M
231
MOTCO
Texas
$3.59K -$70.8K -5,903 -95%
FFA
232
Farther Finance Advisors
California
$1.81K – – –
CPG
233
Cornerstone Planning Group
New Jersey
$547 -$41.2K -3,437 -100%
RCM
234
Rivernorth Capital Management
Florida
– -$9.66M -810,446 Closed
AIM
235
AHL Investment Management
Florida
– -$2.47M -207,067 Closed
RCM
236
Robinson Capital Management
Michigan
– -$2.41M -202,535 Closed
Allspring Global Investments
237
Allspring Global Investments
North Carolina
– -$2.13M -179,052 Closed
SWA
238
Stratos Wealth Advisors
Ohio
– -$785K -65,855 Closed
SFA
239
Sequoia Financial Advisors
Ohio
– -$657K -55,087 Closed
EC
240
Elequin Capital
New York
– -$504K -42,314 Closed
HF
241
HRT Financial
New York
– -$382K -32,099 Closed
CAG
242
Csenge Advisory Group
Florida
– -$381K -32,092 Closed
CI
243
CX Institutional
Indiana
– -$324K -27,200 Closed
KIM
244
Karpus Investment Management
New York
– -$300K -25,203 Closed
LTAS
245
Linden Thomas Advisory Services
North Carolina
– -$238K -20,000 Closed
GWM
246
Geneos Wealth Management
Colorado
– -$222K -18,623 Closed
SFS
247
Sowell Financial Services
Arkansas
– -$214K -17,976 Closed
IWC
248
Integrated Wealth Concepts
Massachusetts
– -$211K -17,714 Closed
HW
249
Hancock Whitney
Mississippi
– -$147K -12,297 Closed
Bank of New York Mellon
250
Bank of New York Mellon
New York
– -$144K -12,113 Closed
7 8 9
10
11

NZF Hedge Fund Activity: Q3 2025 in Review

232 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Nuveen Municipal Credit Income Fund (NZF) for Q3 2025, worth a combined $437M — down 2.7% from $449M a quarter earlier.

Sellers outnumbered buyers: 29 funds closed out of NZF and 20 opened new positions — a net loss of 9 holders — while 63 trimmed existing stakes and 82 added.

The largest buyer was Gridiron Partners, adding an estimated $31.3M. The largest seller was Mackay Shields LLC, cutting an estimated $18.8M.

  • 232 institutional investors held Nuveen Municipal Credit Income Fund (NZF) as of Q3 2025, down from 243 in Q2 2025.
  • Funds reported $437M of Nuveen Municipal Credit Income Fund stock for Q3 2025, down 2.7% quarter-over-quarter.
  • 20 funds opened new Nuveen Municipal Credit Income Fund positions in Q3 2025 and 29 closed out, a net change of -9 holders.
  • The largest Nuveen Municipal Credit Income Fund buyer in Q3 2025 was Gridiron Partners, an estimated $31.3M added.
  • The largest Nuveen Municipal Credit Income Fund seller in Q3 2025 was Mackay Shields LLC, an estimated $18.8M sold.

Based on aggregated 13F filings for Q3 2025.