State Street SPDR Nuveen ICE Municipal Bond ETF
322 hedge funds and large institutions have $2.64B invested in State Street SPDR Nuveen ICE Municipal Bond ETF in 2025 Q4 according to their latest regulatory filings, with 52 funds opening new positions, 111 increasing their positions, 98 reducing their positions, and 23 closing their positions.
126% more first-time investments, than exits
New positions opened: 52 | Existing positions closed: 23
100% more funds holding in top 10
Funds holding in top 10: 3 → 6 (+3)
13% more repeat investments, than reductions
Existing positions increased: 111 | Existing positions reduced: 98
8% more funds holding
Funds holding: 299 → 322 (+23)
0.75% more ownership
Funds ownership: 86.61% → 87.36% (+0.75%)
7% less capital invested
Capital invested by funds: $2.84B → $2.64B (-$207M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IWM
IHT Wealth Management
Chicago,
Illinois
|
+$32.8M |
| 2 |
AAP
Arax Advisory Partners
Denver,
Colorado
|
+$15.5M |
| 3 |
SP
SWS Partners
Columbus,
Ohio
|
+$14M |
| 4 |
Jane Street
New York
|
+$12M |
| 5 |
Envestnet Asset Management
Chicago,
Illinois
|
+$11.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$298M |
| 2 |
Wellington Management Group
Boston,
Massachusetts
|
-$39.6M |
| 3 |
Morgan Stanley
New York
|
-$23.4M |
| 4 |
Betterment LLC
New York
|
-$23.2M |
| 5 |
Fisher Asset Management
Camas,
Washington
|
-$8.06M |
TFI Hedge Fund Activity: Q4 2025 in Review
322 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) for Q4 2025, worth a combined $2.64B — down 7.3% from $2.84B a quarter earlier.
Buyers outnumbered sellers: 52 funds opened new TFI positions and 23 closed out — a net gain of 29 holders — while 111 added to existing stakes and 98 trimmed.
The largest buyer was IHT Wealth Management, adding an estimated $32.8M. The largest seller was Bank of America, cutting an estimated $298M.
- 322 institutional investors held State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) as of Q4 2025, up from 299 in Q3 2025.
- Funds reported $2.64B of State Street SPDR Nuveen ICE Municipal Bond ETF stock for Q4 2025, down 7.3% quarter-over-quarter.
- 52 funds opened new State Street SPDR Nuveen ICE Municipal Bond ETF positions in Q4 2025 and 23 closed out, a net change of +29 holders.
- The largest State Street SPDR Nuveen ICE Municipal Bond ETF buyer in Q4 2025 was IHT Wealth Management, an estimated $32.8M added.
- The largest State Street SPDR Nuveen ICE Municipal Bond ETF seller in Q4 2025 was Bank of America, an estimated $298M sold.
Based on aggregated 13F filings for Q4 2025.