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iShares Short-Term National Muni Bond ETF

SUB

Market cap $11.4B

124 hedge funds and large institutions have $472M invested in iShares Short-Term National Muni Bond ETF in 2015 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 42 increasing their positions, 40 reducing their positions, and 11 closing their positions.

New

Increased

Maintained

Reduced

Closed

5% more repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 40

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

0% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 11

1% less funds holding

Funds holding: 125 → 124 (-1)

2% less capital invested

Capital invested by funds: $480M → $472M (-$7.24M)

1.91% less ownership

Funds ownership: 54.65% → 52.74% (-1.9%)

Holders

124

Holders Change

-1

Holders Change %

-0.8%

% of All Funds

3.46%

Holding in Top 10

Holding in Top 10 Change

–

Holding in Top 10 Change %

–

% of All Funds

0.06%

New

Increased

Reduced

Closed

Calls

–

Puts

–

Net Calls

–

Net Calls Change

–

Top Buyers

1	UBS Group Zurich, Switzerland	+$10.2M
2	SEI Investments Oaks, Pennsylvania	+$4.07M
3	GC Grimes & Company Westborough, Massachusetts	+$2.46M
4	Susquehanna International Group Bala Cynwyd, Pennsylvania	+$2.43M
5	Jane Street New York	+$1.99M

Top Sellers

1	Bank of America Charlotte, North Carolina	-$26.5M
2	OCM One Capital Management Westlake Village, California	-$5.78M
3	Comerica Bank Dallas, Texas	-$2.92M
4	DWM Destination Wealth Management Walnut Creek, California	-$1.29M
5	KeyBank National Association Cleveland, Ohio	-$1.08M

#	Name	Holding	Trade Value	Shares Change	Change in Stake
26	CNB 26 City National Bank Beverly Hills, California	$2.98M	-$230K	-2,177	-7%
27	BFA 27 Bragg Financial Advisors Charlotte, North Carolina	$2.9M	+$500K	+4,729	+21%
28	28 Comerica Bank Dallas, Texas	$2.75M	-$2.92M	-27,652	-52%
29	PA 29 Pinnacle Associates New York	$2.75M	-$198K	-1,875	-7%
30	30 Susquehanna International Group Bala Cynwyd, Pennsylvania	$2.67M	+$2.43M	+22,966	+1,042%
31	GC 31 Grimes & Company Westborough, Massachusetts	$2.47M	+$2.46M	+23,282	New
32	32 Ameriprise Minneapolis, Minnesota	$2.29M	+$295K	+2,787	+15%
33	SIC 33 Sigma Investment Counselors Northville, Michigan	$2.21M	+$368K	+3,480	+20%
34	34 Commonwealth Equity Services Waltham, Massachusetts	$2.07M	+$1.2M	+11,329	+138%
35	35 Jane Street New York	$2M	+$1.99M	+18,843	New
36	WCM 36 Wunderlich Capital Managemnt Memphis, Tennessee	$1.93M	+$84K	+794	+5%
37	JIR 37 James Investment Research Alpha, Ohio	$1.92M	+$743K	+7,024	+63%
38	38 First Trust Advisors Wheaton, Illinois	$1.79M	+$7.3K	+69	+0.4%
39	39 Baird Financial Group Milwaukee, Wisconsin	$1.78M	-$338K	-3,200	-16%
40	PWMAG 40 Pinnacle Wealth Management Advisory Group Red Bank, New Jersey	$1.77M	-$138K	-1,300	-7%
41	CDIA 41 Capital Directions Investment Advisors Atlanta, Georgia	$1.67M	+$31.7K	+300	+2%
42	FHB 42 First Hawaiian Bank Honolulu, Hawaii	$1.64M	-$415K	-3,919	-20%
43	AP 43 Advisors Preferred Rockville, Maryland	$1.5M	-$144K	-1,360	-9%
44	VKH 44 Virtu KCG Holdings New York	$1.46M	+$1.46M	+13,805	New
45	AAM 45 Autus Asset Management Scottsdale, Arizona	$1.16M	+$188K	+1,775	+19%
46	RW 46 Rand Wealth Baltimore, Maryland	$1.14M	–	–	–
47	EWM 47 Endurance Wealth Management Providence, Rhode Island	$1.09M	–	–	–
48	LTFS 48 Ladenburg Thalmann Financial Services Miami, Florida	$1.03M	+$314K	+2,964	+44%
49	TNBTD 49 Trustmark National Bank Trust Department Jackson, Mississippi	$1.01M	-$79.6K	-753	-7%
50	WCF 50 West Coast Financial Santa Barbara, California	$1.01M	–	–	–

SUB Hedge Fund Activity: Q3 2015 in Review

124 of the 3,582 institutional investors tracked by Wall St. Rank reported a position in iShares Short-Term National Muni Bond ETF (SUB) for Q3 2015, worth a combined $472M — down 1.5% from $480M a quarter earlier.

Fund positioning in SUB was balanced in Q3 2015: 11 funds opened new positions, 11 closed out, 42 added to existing stakes and 40 trimmed.

The largest buyer was UBS Group, adding an estimated $10.2M. The largest seller was Bank of America, cutting an estimated $26.5M.

124 institutional investors held iShares Short-Term National Muni Bond ETF (SUB) as of Q3 2015, down from 125 in Q2 2015.
Funds reported $472M of iShares Short-Term National Muni Bond ETF stock for Q3 2015, down 1.5% quarter-over-quarter.
11 funds opened new iShares Short-Term National Muni Bond ETF positions in Q3 2015 and 11 closed out, a net change of 0 holders.
The largest iShares Short-Term National Muni Bond ETF buyer in Q3 2015 was UBS Group, an estimated $10.2M added.
The largest iShares Short-Term National Muni Bond ETF seller in Q3 2015 was Bank of America, an estimated $26.5M sold.

Based on aggregated 13F filings for Q3 2015.

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