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State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM

392 hedge funds and large institutions have $3.16B invested in State Street SPDR Nuveen ICE Short Term Municipal Bond ETF in 2025 Q2 according to their latest regulatory filings, with 28 funds opening new positions, 113 increasing their positions, 179 reducing their positions, and 41 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.33% less ownership

Funds ownership: 93.06% → 92.73% (-0.33%)

1% less capital invested

Capital invested by funds: $3.18B → $3.16B (-$17.5M)

4% less funds holding

Funds holding: 408 → 392 (-16)

32% less first-time investments, than exits

New positions opened: 28 | Existing positions closed: 41

37% less repeat investments, than reductions

Existing positions increased: 113 | Existing positions reduced: 179

40% less funds holding in top 10

Funds holding in top 10: 5 → 3 (-2)

Holders
392
Holders Change
-16
Holders Change %
-3.92%
% of All Funds
5.16%
Holding in Top 10
3
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-40%
% of All Funds
0.04%
New
28
Increased
113
Reduced
179
Closed
41
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
CI
CX Institutional
Indiana
+$69.2M
2
HighTower Advisors
HighTower Advisors
Illinois
+$14.2M
3
KIM
Karpus Investment Management
New York
+$9.36M
4
PWS
Precision Wealth Strategies
Missouri
+$5.17M
5
Renaissance Technologies
Renaissance Technologies
New York
+$4.81M

Top Sellers

Rank Fund Capital Flow
1
UCFA
United Capital Financial Advisors
Texas
-$17.4M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$13.5M
3
Mercer Global Advisors
Mercer Global Advisors
Colorado
-$12.8M
4
Wealth Enhancement Advisory Services
Wealth Enhancement Advisory Services
Minnesota
-$10.9M
5
Wells Fargo
Wells Fargo
California
-$8.45M
Name Holding Trade Value Shares
Change 		Change in
Stake
FIBT
101
First International Bank & Trust
North Dakota
$2.19M -$633K -13,351 -23%
HFW
102
Horizon Family Wealth
Illinois
$2.17M -$1.51M -31,752 -41%
FIM
103
Freedom Investment Management
Connecticut
$2.17M -$97.3K -2,052 -4%
BFA
104
Bragg Financial Advisors
North Carolina
$2.12M +$602K +12,695 +40%
CG
105
Clifford Group
Massachusetts
$2.05M -$158K -3,327 -7%
RIA
106
Regal Investment Advisors
Michigan
$1.99M +$65.1K +1,373 +3%
FF
107
Foronjy Financial
California
$1.98M +$1.96M +41,307 New
BSWM
108
Boston Standard Wealth Management
Massachusetts
$1.94M +$127K +2,674 +7%
PPWP
109
Premier Path Wealth Partners
New Jersey
$1.92M -$154K -3,240 -7%
AWA
110
Aquire Wealth Advisors
Utah
$1.89M -$1.24M -26,039 -40%
ES
111
Eagle Strategies
New York
$1.88M -$99.3K -2,094 -5%
PAG
112
Private Advisor Group
New Jersey
$1.85M +$616K +12,977 +50%
TW
113
Traveka Wealth
California
$1.84M +$65.4K +1,379 +4%
SA
114
Sanctuary Advisors
Indiana
$1.75M -$76.2K -1,606 -4%
MFG
115
Merit Financial Group
Georgia
$1.73M +$875K +18,458 +104%
FTUS
116
Flow Traders U.S.
New York
$1.7M +$1.68M +35,473 New
SQA
117
Simon Quick Advisors
New Jersey
$1.63M +$1.61M +33,999 New
FA
118
FC Advisory
Pennsylvania
$1.63M +$8.54K +180 +0.5%
ACA
119
Ackerman Capital Advisors
Texas
$1.62M +$588K +12,406 +58%
SCM
120
Sebold Capital Management
Illinois
$1.62M -$53.8K -1,135 -3%
GRP
121
Global Retirement Partners
California
$1.62M +$1.61M +33,910 New
IAA
122
Independent Advisor Alliance
North Carolina
$1.59M +$1.57M +33,185 New
HWMG
123
Hurlow Wealth Management Group
Indiana
$1.59M -$11.5K -242 -0.7%
EWM
124
Elmwood Wealth Management
California
$1.59M +$330K +6,949 +27%
EH
125
Equitable Holdings
New York
$1.58M +$536K +11,301 +52%
3 4
5
6 7

SHM Hedge Fund Activity: Q2 2025 in Review

392 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) for Q2 2025, worth a combined $3.16B — down 0.55% from $3.18B a quarter earlier.

Sellers outnumbered buyers: 41 funds closed out of SHM and 28 opened new positions — a net loss of 13 holders — while 179 trimmed existing stakes and 113 added.

The largest buyer was CX Institutional, adding an estimated $69.2M. The largest seller was United Capital Financial Advisors, cutting an estimated $17.4M.

  • 392 institutional investors held State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) as of Q2 2025, down from 408 in Q1 2025.
  • Funds reported $3.16B of State Street SPDR Nuveen ICE Short Term Municipal Bond ETF stock for Q2 2025, down 0.55% quarter-over-quarter.
  • 28 funds opened new State Street SPDR Nuveen ICE Short Term Municipal Bond ETF positions in Q2 2025 and 41 closed out, a net change of -13 holders.
  • The largest State Street SPDR Nuveen ICE Short Term Municipal Bond ETF buyer in Q2 2025 was CX Institutional, an estimated $69.2M added.
  • The largest State Street SPDR Nuveen ICE Short Term Municipal Bond ETF seller in Q2 2025 was United Capital Financial Advisors, an estimated $17.4M sold.

Based on aggregated 13F filings for Q2 2025.