Nuveen Municipal Credit Income Fund
234 hedge funds and large institutions have $438M invested in Nuveen Municipal Credit Income Fund in 2025 Q3 according to their latest regulatory filings, with 20 funds opening new positions, 84 increasing their positions, 63 reducing their positions, and 29 closing their positions.
33% more repeat investments, than reductions
Existing positions increased: 84 | Existing positions reduced: 63
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
1.48% less ownership
Funds ownership: 19.47% → 17.99% (-1.5%)
4% less funds holding
Funds holding: 245 → 234 (-11)
31% less first-time investments, than exits
New positions opened: 20 | Existing positions closed: 29
60% less capital inflows, than outflows
Capital inflows: $22.2M | Capital outflows: $56M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
+$2.3M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$2.04M |
| 3 |
Guggenheim Capital
Chicago,
Illinois
|
+$1.54M |
| 4 |
CC
CF Capital
Cohasset,
Massachusetts
|
+$1.25M |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
+$998K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Mackay Shields LLC
New York
|
-$18.8M |
| 2 |
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$9.7M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$3.56M |
| 4 |
Sit Investment Associates
Minneapolis,
Minnesota
|
-$3.23M |
| 5 |
Morgan Stanley
New York
|
-$3.14M |
NZF Hedge Fund Activity: Q3 2025 in Review
234 of the 7,658 institutional investors tracked by Wall St. Rank reported a position in Nuveen Municipal Credit Income Fund (NZF) for Q3 2025, worth a combined $438M — down 2.6% from $450M 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 84 added.
The largest buyer was Northwestern Mutual Wealth Management, adding an estimated $2.3M. The largest seller was Mackay Shields LLC, cutting an estimated $18.8M.
- 234 institutional investors held Nuveen Municipal Credit Income Fund (NZF) as of Q3 2025, down from 245 in Q2 2025.
- Funds reported $438M of Nuveen Municipal Credit Income Fund stock for Q3 2025, down 2.6% 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 Northwestern Mutual Wealth Management, an estimated $2.3M 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.