Nuveen Municipal Credit Income Fund
242 hedge funds and large institutions have $485M invested in Nuveen Municipal Credit Income Fund in 2025 Q1 according to their latest regulatory filings, with 20 funds opening new positions, 76 increasing their positions, 69 reducing their positions, and 38 closing their positions.
33% more funds holding in top 10
Funds holding in top 10: 3 → 4 (+1)
10% more repeat investments, than reductions
Existing positions increased: 76 | Existing positions reduced: 69
2.66% less ownership
Funds ownership: 23.11% → 20.46% (-2.7%)
8% less funds holding
Funds holding: 263 → 242 (-21)
47% less first-time investments, than exits
New positions opened: 20 | Existing positions closed: 38
49% less capital invested
Capital invested by funds: $942M → $485M (-$458M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Raymond James Financial
St Petersburg,
Florida
|
+$1.67M |
| 2 |
HWAM
Hennion & Walsh Asset Management
Parsippany,
New Jersey
|
+$1.3M |
| 3 |
KAS
Kestra Advisory Services
Austin,
Texas
|
+$1.29M |
| 4 |
LPL Financial
San Diego,
California
|
+$1.15M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$1.15M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Pathstone Holdings
Englewood,
New Jersey
|
-$20M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$10.6M |
| 3 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$5.18M |
| 4 |
Morgan Stanley
New York
|
-$4.92M |
| 5 |
KeyBank National Association
Cleveland,
Ohio
|
-$3.33M |
NZF Hedge Fund Activity: Q1 2025 in Review
242 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Nuveen Municipal Credit Income Fund (NZF) for Q1 2025, worth a combined $485M — down 49% from $942M a quarter earlier.
Sellers outnumbered buyers: 38 funds closed out of NZF and 20 opened new positions — a net loss of 18 holders — while 69 trimmed existing stakes and 76 added.
The largest buyer was Raymond James Financial, adding an estimated $1.67M. The largest seller was Pathstone Holdings, cutting an estimated $20M.
- 242 institutional investors held Nuveen Municipal Credit Income Fund (NZF) as of Q1 2025, down from 263 in Q4 2024.
- Funds reported $485M of Nuveen Municipal Credit Income Fund stock for Q1 2025, down 49% quarter-over-quarter.
- 20 funds opened new Nuveen Municipal Credit Income Fund positions in Q1 2025 and 38 closed out, a net change of -18 holders.
- The largest Nuveen Municipal Credit Income Fund buyer in Q1 2025 was Raymond James Financial, an estimated $1.67M added.
- The largest Nuveen Municipal Credit Income Fund seller in Q1 2025 was Pathstone Holdings, an estimated $20M sold.
Based on aggregated 13F filings for Q1 2025.