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VanEck Short Muni ETF
SMB

92 hedge funds and large institutions have $218M invested in VanEck Short Muni ETF in 2025 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 35 increasing their positions, 32 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

9% more repeat investments, than reductions

Existing positions increased: 35 | Existing positions reduced: 32

1% more capital invested

Capital invested by funds: $215M → $218M (+$2.41M)

2% less funds holding

Funds holding: 94 → 92 (-2)

2.28% less ownership

Funds ownership: 78.25% → 75.97% (-2.3%)

10% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 10

50% less funds holding in top 10

Funds holding in top 10: 4 → 2 (-2)

Holders
92
Holders Change
-2
Holders Change %
-2.13%
% of All Funds
1.21%
Holding in Top 10
2
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
9
Increased
35
Reduced
32
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Raymond James Financial
Raymond James Financial
Florida
+$14.3M
2
SC
Savant Capital
Illinois
+$5.69M
3
AF
Allworth Financial
California
+$2.53M
4
Bank of America
Bank of America
North Carolina
+$1.38M
5
LAS
LWM Advisory Services
Florida
+$905K

Top Sellers

Rank Fund Capital Flow
1
MHS
M Holdings Securities
Oregon
-$9.83M
2
MMA
Miracle Mile Advisors
California
-$1.86M
3
IWC
Integrated Wealth Concepts
Massachusetts
-$1.51M
4
FIM
Freedom Investment Management
Connecticut
-$844K
5
Morgan Stanley
Morgan Stanley
New York
-$654K
Name Holding Trade Value Shares
Change 		Change in
Stake
OCM
51
One Capital Management
California
$336K -$112K -6,440 -25%
EWA
52
EverSource Wealth Advisors
Alabama
$306K +$95.6K +5,512 +46%
AWM
53
Axxcess Wealth Management
California
$305K -$39.9K -2,300 -12%
CAAS
54
Capital Asset Advisory Services
Michigan
$305K -$39.9K -2,300 -12%
WP
55
WealthShield Partners
North Carolina
$275K – – –
EH
56
Equitable Holdings
New York
$266K -$110K -6,339 -29%
Jane Street
57
Jane Street
New York
$262K -$238K -13,715 -48%
MPWT
58
MassMutual Private Wealth & Trust
Connecticut
$243K +$237K +13,642 +4,224%
BFO
59
Boston Family Office
Massachusetts
$242K – – –
Royal Bank of Canada
60
Royal Bank of Canada
Ontario, Canada
$239K +$16.8K +968 +8%
Truist Financial
61
Truist Financial
North Carolina
$236K +$235K +13,562 New
PI
62
PFG Investments
New York
$228K -$36.3K -2,091 -14%
HighTower Advisors
63
HighTower Advisors
Illinois
$224K +$223K +12,885 New
KCPG
64
Kavar Capital Partners Group
Kansas
$218K – – –
BAMG
65
Brand Asset Management Group
Missouri
$215K +$214K +12,318 New
FHA
66
Flagship Harbor Advisors
Massachusetts
$211K +$17.4K +1,001 +9%
Susquehanna International Group
67
Susquehanna International Group
Pennsylvania
$208K +$20.7K +1,192 +11%
TC
68
Trilogy Capital
California
$202K +$201K +11,600 New
BFG
69
Berger Financial Group
Minnesota
$192K – – –
Carson Wealth (CWM LLC)
70
Carson Wealth (CWM LLC)
Nebraska
$183K +$106K +6,116 +140%
Rockefeller Capital Management
71
Rockefeller Capital Management
New York
$182K +$181K +10,457 New
EWM
72
Evermay Wealth Management
Virginia
$165K – – –
Fidelity Investments
73
Fidelity Investments
Massachusetts
$157K +$155K +8,965 +28,919%
CTWM
74
Cherry Tree Wealth Management
Minnesota
$150K -$35K -2,020 -19%
IA
75
IFP Advisors
Florida
$123K -$16.5K -950 -12%
1 2
3
4 5

SMB Hedge Fund Activity: Q3 2025 in Review

92 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in VanEck Short Muni ETF (SMB) for Q3 2025, worth a combined $218M — up 1.1% from $215M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of SMB and 9 opened new positions — a net loss of 1 holder — while 32 trimmed existing stakes and 35 added.

The largest buyer was Raymond James Financial, adding an estimated $14.3M. The largest seller was M Holdings Securities, cutting an estimated $9.83M.

  • 92 institutional investors held VanEck Short Muni ETF (SMB) as of Q3 2025, down from 94 in Q2 2025.
  • Funds reported $218M of VanEck Short Muni ETF stock for Q3 2025, up 1.1% quarter-over-quarter.
  • 9 funds opened new VanEck Short Muni ETF positions in Q3 2025 and 10 closed out, a net change of -1 holder.
  • The largest VanEck Short Muni ETF buyer in Q3 2025 was Raymond James Financial, an estimated $14.3M added.
  • The largest VanEck Short Muni ETF seller in Q3 2025 was M Holdings Securities, an estimated $9.83M sold.

Based on aggregated 13F filings for Q3 2025.