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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GP
Gridiron Partners
Wexford,
Pennsylvania
|
+$31.3M |
| 2 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
+$2.3M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
+$2.04M |
| 4 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$1.54M |
| 5 |
CC
CF Capital
Cohasset,
Massachusetts
|
+$1.25M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MSL
Mackay Shields LLC
New York
|
-$18.8M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$9.66M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$3.56M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$3.23M |
| 5 |
Morgan Stanley
New York
|
-$3.14M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
KA
251
Kercheville Advisors
San Antonio,
Texas
| – | -$131K | -11,000 | Closed |
|
|
AO
252
Advisor OS
Chicago,
Illinois
| – | -$128K | -10,747 | Closed |
|
|
RC
253
Rareview Capital
Las Vegas,
Nevada
| – | -$124K | -10,442 | Closed |
|
|
BCMLT
254
Beacon Capital Management LLC (Tennessee)
Franklin,
Tennessee
| – | -$69K | -5,790 | Closed |
|
|
PSFG
255
Park Square Financial Group
Roswell,
Georgia
| – | -$38.8K | -3,253 | Closed |
|
|
TCM
256
Traub Capital Management
Needham,
Massachusetts
| – | -$37K | -3,100 | Closed |
|
|
PMFA
257
Plante Moran Financial Advisors
Southfield,
Michigan
| – | -$28.1K | -2,358 | Closed |
|
|
TIM
258
Tortoise Investment Management
White Plains,
New York
| – | -$23.2K | -1,945 | Closed |
|
|
NFSG
259
Newbridge Financial Services Group
Boca Raton,
Florida
| – | -$16.5K | -1,386 | Closed |
|
260
JP Morgan Chase
New York
| – | -$10.4K | -869 | Closed |
|
|
TRCT
261
Tower Research Capital (TRC)
New York
| – | -$119 | -10 | Closed |
|
|
UCB
262
United Community Bank
Greenville,
South Carolina
| – | -$60 | -5 | Closed |
|
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.