State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
397 hedge funds and large institutions have $3.15B invested in State Street SPDR Nuveen ICE Short Term Municipal Bond ETF in 2025 Q4 according to their latest regulatory filings, with 46 funds opening new positions, 136 increasing their positions, 139 reducing their positions, and 20 closing their positions.
130% more first-time investments, than exits
New positions opened: 46 | Existing positions closed: 20
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
4% more funds holding
Funds holding: 382 → 397 (+15)
1% more capital invested
Capital invested by funds: $3.13B → $3.15B (+$24.4M)
0.61% less ownership
Funds ownership: 90.27% → 89.66% (-0.61%)
2% less repeat investments, than reductions
Existing positions increased: 136 | Existing positions reduced: 139
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$26.5M |
| 2 |
UB
UMB Bank
Kansas City,
Missouri
|
+$25.4M |
| 3 |
Goldman Sachs
New York
|
+$11.5M |
| 4 |
BlackRock
New York
|
+$7.61M |
| 5 |
QC
Quent Capital
New York
|
+$6.93M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
-$87.5M |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$23.9M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$9.36M |
| 4 |
UCFA
United Capital Financial Advisors
Irving,
Texas
|
-$8.5M |
| 5 |
Mercer Global Advisors
Denver,
Colorado
|
-$5.35M |
SHM Hedge Fund Activity: Q4 2025 in Review
397 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) for Q4 2025, worth a combined $3.15B — up 0.78% from $3.13B a quarter earlier.
Buyers outnumbered sellers: 46 funds opened new SHM positions and 20 closed out — a net gain of 26 holders — while 136 added to existing stakes and 139 trimmed.
The largest buyer was Bank of America, adding an estimated $26.5M. The largest seller was Envestnet Asset Management, cutting an estimated $87.5M.
- 397 institutional investors held State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) as of Q4 2025, up from 382 in Q3 2025.
- Funds reported $3.15B of State Street SPDR Nuveen ICE Short Term Municipal Bond ETF stock for Q4 2025, up 0.78% quarter-over-quarter.
- 46 funds opened new State Street SPDR Nuveen ICE Short Term Municipal Bond ETF positions in Q4 2025 and 20 closed out, a net change of +26 holders.
- The largest State Street SPDR Nuveen ICE Short Term Municipal Bond ETF buyer in Q4 2025 was Bank of America, an estimated $26.5M added.
- The largest State Street SPDR Nuveen ICE Short Term Municipal Bond ETF seller in Q4 2025 was Envestnet Asset Management, an estimated $87.5M sold.
Based on aggregated 13F filings for Q4 2025.