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State Street SPDR Nuveen ICE Municipal Bond ETF
TFI

308 hedge funds and large institutions have $2.82B invested in State Street SPDR Nuveen ICE Municipal Bond ETF in 2025 Q1 according to their latest regulatory filings, with 28 funds opening new positions, 100 increasing their positions, 115 reducing their positions, and 41 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

2.62% less ownership

Funds ownership: 87.34% → 84.72% (-2.6%)

5% less funds holding

Funds holding: 323 → 308 (-15)

12% less capital invested

Capital invested by funds: $3.23B → $2.82B (-$402M)

13% less repeat investments, than reductions

Existing positions increased: 100 | Existing positions reduced: 115

32% less first-time investments, than exits

New positions opened: 28 | Existing positions closed: 41

Holders
308
Holders Change
-15
Holders Change %
-4.64%
% of All Funds
4.13%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
28
Increased
100
Reduced
115
Closed
41
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
+$264M
2
Betterment LLC
Betterment LLC
New York
+$95.5M
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$24.5M
4
EC
Elequin Capital
New York
+$15.8M
5
APW
Austin Private Wealth
Texas
+$14.5M

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$443M
2
Bank of America
Bank of America
North Carolina
-$266M
3
CCWA
CLA (CliftonLarsonAllen) Wealth Advisors
Minnesota
-$61.4M
4
Envestnet Portfolio Solutions
Envestnet Portfolio Solutions
Illinois
-$9.11M
5
Fisher Asset Management
Fisher Asset Management
Washington
-$7.43M
Name Holding Trade Value Shares
Change 		Change in
Stake
SP
76
SWS Partners
Ohio
$2.45M -$1.68M -36,738 -40%
Renaissance Technologies
77
Renaissance Technologies
New York
$2.43M -$1.93M -42,419 -44%
AAS
78
Avantax Advisory Services
Texas
$2.33M -$1.05M -23,065 -31%
KAS
79
Kestra Advisory Services
Texas
$2.33M -$97.3K -2,133 -4%
JWM
80
JFG Wealth Management
Colorado
$2.33M -$83K -1,821 -3%
WP
81
WealthShield Partners
North Carolina
$2.3M -$191K -4,183 -8%
CWM
82
Cornerstone Wealth Management
Missouri
$2.17M – – –
FNC
83
First National Corp
Massachusetts
$1.99M +$14.2K +311 +0.7%
Envestnet Portfolio Solutions
84
Envestnet Portfolio Solutions
Illinois
$1.94M -$9.11M -199,831 -82%
Citigroup
85
Citigroup
New York
$1.87M +$56.5K +1,240 +3%
PAG
86
Private Advisor Group
New Jersey
$1.84M +$904K +19,834 +95%
UCFA
87
United Capital Financial Advisors
Texas
$1.79M +$2.51K +55 +0.1%
HI
88
Harbour Investments
Wisconsin
$1.64M -$108K -2,378 -6%
SA
89
Sanctuary Advisors
Indiana
$1.62M -$5.33K -117 -0.3%
CWG
90
Cornerstone Wealth Group
North Carolina
$1.61M +$232K +5,077 +17%
MWA
91
Moser Wealth Advisors
Washington
$1.6M +$18.2K +400 +1%
ERIC
92
Eagle Rock Investment Company
Georgia
$1.59M – – –
EAMA
93
EFG Asset Management (Americas)
Florida
$1.58M +$12.9K +282 +0.8%
OWA
94
One Wealth Advisors
California
$1.56M -$26.9K -589 -2%
WA
95
WBH Advisory
Maryland
$1.54M +$105K +2,312 +7%
FWI
96
Facet Wealth Inc
Maryland
$1.52M +$1.23M +27,079 +375%
NAS
97
Nicolet Advisory Services
Wisconsin
$1.52M +$1.28M +28,047 +429%
GAG
98
Goodman Advisory Group
Massachusetts
$1.5M -$199K -4,366 -12%
IA
99
IFP Advisors
Florida
$1.5M -$137K -3,005 -8%
Rockefeller Capital Management
100
Rockefeller Capital Management
New York
$1.49M -$25.9K -569 -2%
2 3
4
5 6

TFI Hedge Fund Activity: Q1 2025 in Review

308 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) for Q1 2025, worth a combined $2.82B — down 12% from $3.23B a quarter earlier.

Sellers outnumbered buyers: 41 funds closed out of TFI and 28 opened new positions — a net loss of 13 holders — while 115 trimmed existing stakes and 100 added.

The largest buyer was JP Morgan Chase, adding an estimated $264M. The largest seller was Morgan Stanley, cutting an estimated $443M.

  • 308 institutional investors held State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) as of Q1 2025, down from 323 in Q4 2024.
  • Funds reported $2.82B of State Street SPDR Nuveen ICE Municipal Bond ETF stock for Q1 2025, down 12% quarter-over-quarter.
  • 28 funds opened new State Street SPDR Nuveen ICE Municipal Bond ETF positions in Q1 2025 and 41 closed out, a net change of -13 holders.
  • The largest State Street SPDR Nuveen ICE Municipal Bond ETF buyer in Q1 2025 was JP Morgan Chase, an estimated $264M added.
  • The largest State Street SPDR Nuveen ICE Municipal Bond ETF seller in Q1 2025 was Morgan Stanley, an estimated $443M sold.

Based on aggregated 13F filings for Q1 2025.