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Schwab Municipal Bond ETF
SCMB

151 hedge funds and large institutions have $2.05B invested in Schwab Municipal Bond ETF in 2025 Q4 according to their latest regulatory filings, with 35 funds opening new positions, 75 increasing their positions, 20 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

275% more repeat investments, than reductions

Existing positions increased: 75 | Existing positions reduced: 20

169% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 13

17% more funds holding

Funds holding: 129 → 151 (+22)

9% more capital invested

Capital invested by funds: $1.88B → $2.05B (+$172M)

3.59% less ownership

Funds ownership: 79.42% → 75.83% (-3.6%)

Holders
151
Holders Change
+22
Holders Change %
+17.05%
% of All Funds
1.84%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
35
Increased
75
Reduced
20
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Charles Schwab
Charles Schwab
California
+$149M
2
Wealth Enhancement Advisory Services
Wealth Enhancement Advisory Services
Minnesota
+$8.97M
3
Jones Financial Companies
Jones Financial Companies
Missouri
+$8.39M
4
CST
Charles Schwab Trust
Nevada
+$2.94M
5
PCA
Pallas Capital Advisors
Massachusetts
+$2.92M

Top Sellers

1
JP Morgan Chase
JP Morgan Chase
New York
-$19.7M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$7.3M
3
Jane Street
Jane Street
New York
-$6.56M
4
OMC
Old Mission Capital
Illinois
-$5.39M
5
Goldman Sachs
Goldman Sachs
New York
-$2.74M
Name Holding Trade Value Shares
Change 		Change in
Stake
MNA
26
Manning & Napier Advisors
New York
$2.76M +$671K +26,020 +32%
QCM
27
Quantinno Capital Management
New York
$2.46M +$100K +3,880 +4%
Raymond James Financial
28
Raymond James Financial
Florida
$2.16M +$531K +20,623 +33%
IPA
29
Investment Planning Advisors
Georgia
$2.12M +$348K +13,515 +20%
Janney Montgomery Scott
30
Janney Montgomery Scott
Pennsylvania
$2.06M – – –
ORC
31
O'Rourke & Company
Massachusetts
$1.91M +$56.3K +2,185 +3%
CAPTRUST Financial Advisors
32
CAPTRUST Financial Advisors
North Carolina
$1.89M +$510K +19,787 +37%
DCM
33
Donaldson Capital Management
Indiana
$1.85M – – –
BIM
34
Breakwater Investment Management
Washington
$1.75M +$724K +28,094 +70%
Osaic Holdings
35
Osaic Holdings
Arizona
$1.72M +$631K +24,500 +58%
GVAG
36
Great Valley Advisor Group
Delaware
$1.7M +$61.3K +2,380 +4%
Mariner
37
Mariner
Kansas
$1.65M +$1.24M +48,113 +299%
ACA
38
Ackerman Capital Advisors
Texas
$1.63M -$124K -4,800 -7%
CFD
39
Creative Financial Designs
Indiana
$1.51M -$65.3K -2,534 -4%
AQR Capital Management
40
AQR Capital Management
Connecticut
$1.51M – – –
TWM
41
TSA Wealth Management
Texas
$1.51M +$99.4K +3,856 +7%
Cetera Investment Advisers
42
Cetera Investment Advisers
Illinois
$1.49M +$211K +8,174 +16%
CFGSD
43
Compass Financial Group (South Dakota)
South Dakota
$1.47M +$625K +24,251 +74%
MWM
44
Meridian Wealth Management
Kentucky
$1.37M +$33.6K +1,303 +3%
CM
45
Columbus Macro
Pennsylvania
$1.37M +$264K +10,245 +24%
CWAI
46
Core Wealth Advisors (Indiana)
Indiana
$1.3M +$1.3M +50,295 New
VAF
47
Values Added Financial
District of Columbia
$1.27M +$1.27M +49,293 New
IA
48
IFP Advisors
Florida
$1.12M +$794K +30,798 +241%
Cambridge Investment Research Advisors
49
Cambridge Investment Research Advisors
Iowa
$1.11M +$65.8K +2,552 +6%
FF
50
Francis Financial
$1.1M – – –
1
2
3 4 5

SCMB Hedge Fund Activity: Q4 2025 in Review

151 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Schwab Municipal Bond ETF (SCMB) for Q4 2025, worth a combined $2.05B — up 9.1% from $1.88B a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new SCMB positions and 13 closed out — a net gain of 22 holders — while 75 added to existing stakes and 20 trimmed.

The largest buyer was Charles Schwab, adding an estimated $149M. The largest seller was JP Morgan Chase, cutting an estimated $19.7M.

  • 151 institutional investors held Schwab Municipal Bond ETF (SCMB) as of Q4 2025, up from 129 in Q3 2025.
  • Funds reported $2.05B of Schwab Municipal Bond ETF stock for Q4 2025, up 9.1% quarter-over-quarter.
  • 35 funds opened new Schwab Municipal Bond ETF positions in Q4 2025 and 13 closed out, a net change of +22 holders.
  • The largest Schwab Municipal Bond ETF buyer in Q4 2025 was Charles Schwab, an estimated $149M added.
  • The largest Schwab Municipal Bond ETF seller in Q4 2025 was JP Morgan Chase, an estimated $19.7M sold.

Based on aggregated 13F filings for Q4 2025.