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iShares Short-Term National Muni Bond ETF

SUB

Market cap $11.4B

105 hedge funds and large institutions have $407M invested in iShares Short-Term National Muni Bond ETF in 2013 Q4 according to their latest regulatory filings, with 21 funds opening new positions, 42 increasing their positions, 19 reducing their positions, and 5 closing their positions.

New

Increased

Maintained

Reduced

Closed

320% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 5

121% more repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 19

16% more capital invested

Capital invested by funds: $351M → $407M (+$56.1M)

14% more funds holding

Funds holding: 92 → 105 (+13)

2.81% more ownership

Funds ownership: 48.21% → 51.02% (+2.8%)

Holders

105

Holders Change

+13

Holders Change %

+14.13%

% of All Funds

3.05%

Holding in Top 10

–

Holding in Top 10 Change

–

Holding in Top 10 Change %

–

% of All Funds

–

New

Increased

Reduced

Closed

Calls

–

Puts

–

Net Calls

–

Net Calls Change

–

Top Buyers

1	Bank of America Charlotte, North Carolina	+$52.1M
2	US Bancorp Minneapolis, Minnesota	+$12.2M
3	Morgan Stanley New York	+$11.5M
4	U UBS Zurich, Switzerland	+$2.23M
5	Wells Fargo San Francisco, California	+$1.92M

Top Sellers

1	BTS BB&T Securities Richmond, Virginia	-$20.7M
2	KeyBank National Association Cleveland, Ohio	-$5.47M
3	FAAS First Allied Advisory Services San Diego, California	-$1.71M
4	UCFA United Capital Financial Advisors Irving, Texas	-$1.64M
5	Barclays London, United Kingdom	-$756K

#	Name	Holding	Trade Value	Shares Change	Change in Stake
26	BCI 26 Brinker Capital Investments Berwyn, Pennsylvania	$1.75M	–	–	–
27	27 Cambridge Investment Research Advisors Fairfield, Iowa	$1.73M	+$319K	+3,002	+23%
28	FAAM 28 First Allied Asset Management San Diego, California	$1.71M	+$202K	+1,900	+13%
29	29 Fifth Third Bancorp Cincinnati, Ohio	$1.54M	-$682K	-6,417	-31%
30	WTC 30 WhitTier Trust Company Reno, Nevada	$1.52M	+$82.3K	+775	+6%
31	CNB 31 City National Bank Beverly Hills, California	$1.35M	-$371K	-3,494	-22%
32	WCM 32 Wunderlich Capital Managemnt Memphis, Tennessee	$1.32M	+$1.32M	+12,415	New
33	MFS 33 MSI Financial Services Springfield, Massachusetts	$1.29M	+$158K	+1,487	+14%
34	BIM 34 BlackRock Investment Management Wilmington, Delaware	$1.2M	+$54.3K	+511	+5%
35	TNBTD 35 Trustmark National Bank Trust Department Jackson, Mississippi	$1.14M	–	–	–
36	LPT 36 Legacy Private Trust Neenah, Wisconsin	$1.1M	+$1.1M	+10,360	New
37	BSB 37 Bangor Savings Bank Bangor, Maine	$1.01M	-$92.2K	-868	-8%
38	PI 38 Placemark Investments Chicago, Illinois	$979K	+$169K	+1,594	+21%
39	39 Janney Montgomery Scott Philadelphia, Pennsylvania	$960K	+$193K	+1,814	+25%
40	AL 40 Aspiriant LLC Los Angeles, California	$883K	+$106	+1	+0%
41	OC 41 Oppenheimer & Co New York	$814K	-$129K	-1,212	-14%
42	GT 42 Glenview Trust Louisville, Kentucky	$740K	+$740K	+6,970	New
43	43 Barclays London, United Kingdom	$734K	-$756K	-7,112	-51%
44	44 JP Morgan Chase New York	$728K	+$30.9K	+291	+4%
45	CS 45 Credit Suisse Zurich, Switzerland	$716K	-$27.2K	-256	-4%
46	JIC 46 Johnson Investment Counsel Cincinnati, Ohio	$637K	–	–	–
47	47 Ameriprise Minneapolis, Minnesota	$621K	+$154K	+1,449	+33%
48	WT 48 Whittier Trust South Pasadena, California	$602K	–	–	–
49	VCM 49 Vigilant Capital Management Portland, Maine	$588K	–	–	–
50	ACP 50 Aviance Capital Partners Naples, Florida	$585K	+$19.2K	+181	+3%

SUB Hedge Fund Activity: Q4 2013 in Review

105 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in iShares Short-Term National Muni Bond ETF (SUB) for Q4 2013, worth a combined $407M — up 16% from $351M a quarter earlier.

Buyers outnumbered sellers: 21 funds opened new SUB positions and 5 closed out — a net gain of 16 holders — while 42 added to existing stakes and 19 trimmed.

The largest buyer was Bank of America, adding an estimated $52.1M. The largest seller was BB&T Securities, exiting entirely with an estimated $20.7M sold.

105 institutional investors held iShares Short-Term National Muni Bond ETF (SUB) as of Q4 2013, up from 92 in Q3 2013.
Funds reported $407M of iShares Short-Term National Muni Bond ETF stock for Q4 2013, up 16% quarter-over-quarter.
21 funds opened new iShares Short-Term National Muni Bond ETF positions in Q4 2013 and 5 closed out, a net change of +16 holders.
The largest iShares Short-Term National Muni Bond ETF buyer in Q4 2013 was Bank of America, an estimated $52.1M added.
The largest iShares Short-Term National Muni Bond ETF seller in Q4 2013 was BB&T Securities, an estimated $20.7M sold.

Based on aggregated 13F filings for Q4 2013.

iShares Short-Term National Muni Bond ETF SUB Market cap $11.4B