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iShares Short-Term National Muni Bond ETF
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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: 23 → 25 (+2)

2% more funds holding

Funds holding: 833 → 847 (+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
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$324M
2
Bank of New York Mellon
Bank of New York Mellon
New York
+$92M
3
GC
Grimes & Company
Massachusetts
+$57.3M
4
WL
WIT LLC
District of Columbia
+$44.2M
5
CAG
Crestwood Advisors Group
Massachusetts
+$37M

Top Sellers

Rank Fund Capital Flow
1
EI
Ellevest Inc
New York
-$39.4M
2
TC
TownSquare Capital
Utah
-$17.4M
3
JP Morgan Chase
JP Morgan Chase
New York
-$15.4M
4
UBS Group
UBS Group
Switzerland
-$14.6M
5
LFG
Larson Financial Group
Missouri
-$9.16M
Name Holding Trade Value Shares
Change 		Change in
Stake
LI
851
LRI Investments
Florida
$532 – – –
CVM
852
Cheviot Value Management
California
$320 – – –
TC
853
TownSquare Capital
Utah
– -$17.4M -164,800 Closed
BIP
854
Blueprint Investment Partners
North Carolina
– -$7.76M -73,469 Closed
EC
855
Elequin Capital
New York
– -$5.89M -55,810 Closed
Susquehanna International Group
856
Susquehanna International Group
Pennsylvania
– -$4.52M -42,846 Closed
WAM
857
WNY Asset Management
New York
– -$3.27M -30,948 Closed
FTUS
858
Flow Traders U.S.
New York
– -$2.57M -24,321 Closed
DWM
859
Dynasty Wealth Management
Florida
– -$2.11M -19,963 Closed
LWM
860
LongView Wealth Management
Georgia
– -$1.65M -15,608 Closed
GS
861
GTS Securities
New York
– -$1.58M -14,990 Closed
DT
862
Diversified Trust
Tennessee
– -$1.42M -13,476 Closed
BCM
863
BTC Capital Management
Iowa
– -$1.34M -12,649 Closed
USGIU
864
U.S. Global Investors (USGI)
Texas
– -$1.06M -10,000 Closed
CGL
865
Clarius Group LLC
Washington
– -$1.05M -9,923 Closed
RF
866
RHS Financial
California
– -$824K -7,803 Closed
FAIM
867
Financial Advocates Investment Management
Washington
– -$819K -6,400 Closed
STA
868
Shade Tree Advisors
New York
– -$608K -5,754 Closed
TWM
869
Tanager Wealth Management
United Kingdom
– -$509K -4,816 Closed
SWA
870
Stratos Wealth Advisors
Ohio
– -$427K -4,043 Closed
WS
871
Wedbush Securities
California
– -$415K -3,934 Closed
KCM
872
KM Capital Management
Texas
– -$381K -3,610 Closed
BAM
873
Belpointe Asset Management
Nevada
– -$376K -3,558 Closed
FCA
874
Fortis Capital Advisors
Kansas
– -$376K -3,558 Closed
PA
875
PFG Advisors
Arizona
– -$363K -3,440 Closed
33 34
35
36 37

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.