Who Owns iShares Short-Term National Muni Bond ETF (SUB)?Hedge Fund & Institutional Holders

$106.92+0.08 (+0.08%)Financial ServicesNYSE_ARCA

Institutional Holders

50

as of Q4 2025

Total Institutional Value

$InfinityT

% of Float Held

—

QoQ Change in Holders

+13 / -6

Price History

$104.77$105.44$106.10$106.77$107.44Sep 24Jun 25Mar 26

SUB — Biggest New Institutional Buyers This Quarter

FundActionShares AddedValue Added
BANK OF AMERICA CORP /DE/Increased+797K+$884.2B
ALLSTATE CORPNew Position+1.5M+$165.0B
MERCER GLOBAL ADVISORS INC /ADVIncreased+723K+$75.7B
NISA INVESTMENT ADVISORS, LLCNew Position+675K+$72.0B
COMMONWEALTH EQUITY SERVICES, LLCNew Position+615K+$65.0B
Heritage Investment Group, Inc.New Position+524K+$55.9B
Willis Johnson & Associates, Inc.New Position+288K+$30.7B
CITIZENS FINANCIAL GROUP INC/RINew Position+263K+$28.0B
CAHABA WEALTH MANAGEMENT, INC.New Position+262K+$27.9B
RITHOLTZ WEALTH MANAGEMENTNew Position+261K+$27.9B
BAILARD, INC.New Position+200K+$21.3B
Carnegie Investment CounselNew Position+196K+$20.9B
Ascent Group, LLCNew Position+176K+$18.8B
ALESCO ADVISORS LLCNew Position+175K+$18.7B
PARTNERS CAPITAL INVESTMENT GROUP, LLPNew Position+159K+$17.0B

SUB — Institutions Reducing or Closing Positions

FundActionShares SoldValue Sold
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CODecreased-1.3M-$141.3B
Willow Creek Wealth Management Inc.Closed Position-422K-$45.1B
RENAISSANCE TECHNOLOGIES LLCClosed Position-416K-$44.4B
CIBC Bancorp USA Inc.Closed Position-221K-$23.6B
SUSQUEHANNA INTERNATIONAL GROUP, LLPClosed Position-184K-$19.6B
Quantinno Capital Management LPDecreased-4K-$12.8B
JANE STREET GROUP, LLCClosed Position-86K-$9.2B
M&T BANK CORPDecreased-84K-$9.0B
OLD NATIONAL BANCORP /IN/Decreased-81K-$8.7B
Integrated Wealth Concepts LLCDecreased-48K-$8.6B
CLIFTONLARSONALLEN WEALTH ADVISORS, LLCDecreased-4K-$8.4B
Larson Financial Group LLCDecreased-7K-$7.6B
Tower Research Capital LLC (TRC)Decreased-56K-$6.1B
Wealthspire Advisors, LLCDecreased-48K-$5.2B
Lindenwold Advisors, INCClosed Position-47K-$5.0B

Top Institutional Holders(Q4 2025)

#FundSharesValue% of PortfolioType
1MERCER GLOBAL ADVISORS INC /ADV8,489,274$905.0B1379.55%Share
2BANK OF AMERICA CORP /DE/3,851,873$410.0B29.82%Share
3BANK OF AMERICA CORP /DE/2,874,766$306.0B22.26%Share
4SEI INVESTMENTS CO2,797,826$298.0B294.15%Share
5BANK OF AMERICA CORP /DE/1,546,362$164.0B11.93%Share
6ALLSTATE CORP1,500,244$160.0B2185.79%Share
7CITIGROUP INC1,335,600$142.0B62.67%Share
8FRANKLIN RESOURCES INC1,196,652$127.0B31.16%Share
9UBS Group AG1,179,085$125.8B20.40%Share
10AMERIPRISE FINANCIAL INC1,001,966$106.0B23.95%Share
11NISA INVESTMENT ADVISORS, LLC674,815$72.0B237.68%Share
12COMMONWEALTH EQUITY SERVICES, LLC614,591$65.0B86.65%Share
13BANK OF MONTREAL /CAN/600,136$64.0B22.17%Share
14Focus Partners Wealth547,619$58.0B66.10%Share
15Heritage Investment Group, Inc.524,218$55.9B8.51%Share
16Truepoint, Inc.425,683$45.4B1.02%Share
17WIT, LLC418,588$44.7B0.90%Share
18US BANCORP \DE\371,422$39.6B46.43%Share
19RAYMOND JAMES FINANCIAL INC370,120$39.0B12.13%Share
20GOLDMAN SACHS GROUP INC371,198$39.0B4.81%Share
21Orion Porfolio Solutions, LLC349,645$37.0B271.34%Share
22ROYAL BANK OF CANADA299,619$31.0B5.04%Share
23Willis Johnson & Associates, Inc.287,811$30.7B1.89%Share
24JPMORGAN CHASE & CO287,321$30.0B1.88%Share
25CAHABA WEALTH MANAGEMENT, INC.261,553$27.9B1.94%Share
26RITHOLTZ WEALTH MANAGEMENT261,430$27.9B509.15%Share
27Rockefeller Capital Management L.P.260,741$27.0B48.61%Share
28OLD NATIONAL BANCORP /IN/251,704$26.9B446.20%Share
29WELLS FARGO & COMPANY/MN232,412$24.0B4.37%Share
30CIBC Private Wealth Group LLC225,669$24.0B40.57%Share
31CITIZENS FINANCIAL GROUP INC/RI220,430$23.5B315.29%Share
32ROYAL BANK OF CANADA210,465$22.0B3.58%Share
33Freestone Capital Holdings, LLC200,560$21.4B0.63%Share
34BAILARD, INC.199,528$21.3B0.47%Share
35OSAIC HOLDINGS, INC.205,481$21.0B30.69%Share
36STIFEL FINANCIAL CORP199,560$21.0B18.89%Share
37Carnegie Investment Counsel195,892$20.9B385.59%Share
38Members Trust Co179,789$19.2B0.63%Share
39ALESCO ADVISORS LLC175,005$18.7B0.48%Share
40Ascent Group, LLC170,475$18.2B0.62%Share
41JPMORGAN CHASE & CO164,579$17.0B1.07%Share
42JPMORGAN CHASE & CO166,300$17.0B1.07%Share
43PARTNERS CAPITAL INVESTMENT GROUP, LLP159,194$17.0B0.63%Share
44US BANCORP \DE\158,269$16.9B19.79%Share
45GAMMA Investing LLC154,590$16.5B0.83%Share
46BANK OF HAWAII151,440$16.2B0.80%Share
47BROWN WEALTH MANAGEMENT, LLC150,034$16.0B4.21%Share
48Ellevest, Inc.159,210$16.0B2.21%Share
49JONES FINANCIAL COMPANIES LLLP135,101$14.0B8.54%Share
50CITY OF LONDON INVESTMENT MANAGEMENT CO LTD130,304$13.9B1.04%Share

SUB Institutional Ownership History

QuarterHoldersTotal ValueChange
Q4 2025845$4.9T+417
Q3 2025428$4.3T-372
Q2 2025800$5.4T-25
Q1 2025825$6.3T+174
Q4 2024651$20459.5T+147
Q3 2024504$23633.5T+16
Q2 2024488$24034.5T+12
Q1 2024476$1713.6T—

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As of Q4 2025, 50 institutional investors hold SUB (iShares Short-Term National Muni Bond ETF). The largest holder is MERCER GLOBAL ADVISORS INC /ADV with $905.0B in shares. This quarter, 13 institutions opened new positions and 6 closed their positions.

Frequently Asked Questions

How many hedge funds own SUB?

As of Q4 2025, 50 institutional investors report holding SUB (iShares Short-Term National Muni Bond ETF) in their 13F filings.

Who is the largest institutional holder of SUB?

The largest institutional holder of SUB is MERCER GLOBAL ADVISORS INC /ADV with $905.0B in shares.

Is institutional ownership of SUB increasing or decreasing?

This quarter, 13 institutions opened new positions in SUB and 6 closed their positions.