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iShares Short-Term National Muni Bond ETF

847 hedge funds and large institutions have $8.72B invested in iShares Short-Term National Muni Bond ETF in 2025 Q2 according to their latest regulatory filings, with 84 funds opening new positions, 355 increasing their positions, 274 reducing their positions, and 62 closing their positions.

New
Increased
Maintained
Reduced
Closed

35% more first-time investments, than exits

New positions opened: 84 | Existing positions closed: 62

30% more repeat investments, than reductions

Existing positions increased: 355 | Existing positions reduced: 274

12% more capital invested

Capital invested by funds: $7.81B → $8.72B (+$905M)

9% more funds holding in top 10

Funds holding in top 10: 2325 (+2)

2% more funds holding

Funds holding: 833847 (+14)

1.41% less ownership

Funds ownership: 89.08%87.67% (-1.4%)

Holders
847
Holders Change
+14
Holders Change %
+1.68%
% of All Funds
11.15%
Holding in Top 10
25
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+8.7%
% of All Funds
0.33%
New
84
Increased
355
Reduced
274
Closed
62
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
MWM
51
Modera Wealth Management
New Jersey
$25.9M +$4.1M +38,803 +19%
CWM
52
Cahaba Wealth Management
Georgia
$25.1M +$1.91M +18,076 +8%
Wealth Enhancement Advisory Services
53
Wealth Enhancement Advisory Services
Minnesota
$24.6M -$6.25M -59,204 -20%
WWM
54
Waterway Wealth Management
Texas
$24.5M +$23.9M +226,269 +6,034%
Betterment LLC
55
Betterment LLC
New York
$23M +$19.2M +181,461 +525%
Cetera Investment Advisers
56
Cetera Investment Advisers
Illinois
$22.7M -$3.86M -36,524 -15%
Thrivent Financial for Lutherans
57
Thrivent Financial for Lutherans
Minnesota
$21.6M -$3.46M -32,723 -14%
CIC
58
Carnegie Investment Counsel
Ohio
$21.4M +$2.16M +20,434 +11%
Nisa Investment Advisors
59
Nisa Investment Advisors
Missouri
$21.3M +$2.45M +23,155 +13%
LA
60
LVW Advisors
New York
$21.1M +$1.34M +12,719 +7%
Comerica Bank
61
Comerica Bank
Texas
$20.7M +$3.75M +35,542 +22%
B
62
Bailard
California
$19.8M +$15M +141,754 +322%
Members Trust
63
Members Trust
Florida
$19.1M -$798K -7,552 -4%
AFG
64
Arkansas Financial Group
Arkansas
$18.3M +$31.9K +302 +0.2%
MG
65
Mather Group
Illinois
$18.3M +$16.8M +158,721 +1,228%
AG
66
Ascent Group
Virginia
$18.1M -$2.76M -26,143 -13%
AA
67
Alesco Advisors
New York
$17M -$41.9K -397 -0.2%
PCIG
68
Partners Capital Investment Group
Massachusetts
$16.8M -$3.81M -36,022 -19%
EI
69
Ellevest Inc
New York
$16.8M -$39.4M -373,085 -70%
FCH
70
Freestone Capital Holdings
Washington
$16.6M +$33.9K +321 +0.2%
BOPW
71
Brandywine Oak Private Wealth
Pennsylvania
$15.2M -$327K -3,092 -2%
OCM
72
One Capital Management
California
$15.2M +$409K +3,869 +3%
GI
73
GAMMA Investing
California
$15M +$3.88M +36,730 +35%
MFG
74
Merit Financial Group
Georgia
$14.7M +$6.72M +63,632 +86%
SFA
75
Sequoia Financial Advisors
Ohio
$14.4M -$563K -5,331 -4%

SUB Hedge Fund Activity: Q2 2025 in Review

847 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in iShares Short-Term National Muni Bond ETF (SUB) for Q2 2025, worth a combined $8.72B — up 12% from $7.81B a quarter earlier.

Buyers outnumbered sellers: 84 funds opened new SUB positions and 62 closed out — a net gain of 22 holders — while 355 added to existing stakes and 274 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $324M. The largest seller was Ellevest Inc, cutting an estimated $39.4M.

  • 847 institutional investors held iShares Short-Term National Muni Bond ETF (SUB) as of Q2 2025, up from 833 in Q1 2025.
  • Funds reported $8.72B of iShares Short-Term National Muni Bond ETF stock for Q2 2025, up 12% quarter-over-quarter.
  • 84 funds opened new iShares Short-Term National Muni Bond ETF positions in Q2 2025 and 62 closed out, a net change of +22 holders.
  • The largest iShares Short-Term National Muni Bond ETF buyer in Q2 2025 was Morgan Stanley, an estimated $324M added.
  • The largest iShares Short-Term National Muni Bond ETF seller in Q2 2025 was Ellevest Inc, an estimated $39.4M sold.

Based on aggregated 13F filings for Q2 2025.