State Street SPDR Nuveen ICE Municipal Bond ETF
300 hedge funds and large institutions have $2.76B invested in State Street SPDR Nuveen ICE Municipal Bond ETF in 2025 Q2 according to their latest regulatory filings, with 43 funds opening new positions, 87 increasing their positions, 120 reducing their positions, and 49 closing their positions.
0.9% more ownership
Funds ownership: 84.72% → 85.62% (+0.9%)
2% less capital invested
Capital invested by funds: $2.82B → $2.76B (-$67.6M)
3% less funds holding
Funds holding: 308 → 300 (-8)
12% less first-time investments, than exits
New positions opened: 43 | Existing positions closed: 49
28% less repeat investments, than reductions
Existing positions increased: 87 | Existing positions reduced: 120
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Betterment LLC
New York
|
+$175M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$17.2M |
| 3 |
Raymond James Financial
St Petersburg,
Florida
|
+$16.5M |
| 4 |
Jane Street
New York
|
+$16M |
| 5 |
APW
Austin Private Wealth
Austin,
Texas
|
+$13M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
-$247M |
| 2 |
Morgan Stanley
New York
|
-$19.7M |
| 3 |
EC
Elequin Capital
New York
|
-$15.7M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$11.9M |
| 5 |
ACA
Ackerman Capital Advisors
Dallas,
Texas
|
-$10.5M |
TFI Hedge Fund Activity: Q2 2025 in Review
300 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) for Q2 2025, worth a combined $2.76B — down 2.4% from $2.82B a quarter earlier.
Sellers outnumbered buyers: 49 funds closed out of TFI and 43 opened new positions — a net loss of 6 holders — while 120 trimmed existing stakes and 87 added.
The largest buyer was Betterment LLC, adding an estimated $175M. The largest seller was JP Morgan Chase, cutting an estimated $247M.
- 300 institutional investors held State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) as of Q2 2025, down from 308 in Q1 2025.
- Funds reported $2.76B of State Street SPDR Nuveen ICE Municipal Bond ETF stock for Q2 2025, down 2.4% quarter-over-quarter.
- 43 funds opened new State Street SPDR Nuveen ICE Municipal Bond ETF positions in Q2 2025 and 49 closed out, a net change of -6 holders.
- The largest State Street SPDR Nuveen ICE Municipal Bond ETF buyer in Q2 2025 was Betterment LLC, an estimated $175M added.
- The largest State Street SPDR Nuveen ICE Municipal Bond ETF seller in Q2 2025 was JP Morgan Chase, an estimated $247M sold.
Based on aggregated 13F filings for Q2 2025.