VanEck Long Muni

MLN • BATS

VanEck Long Muni is an exchange-traded fund on BATS. As of Q3 2025, 122 institutional investors hold shares in this ETF, with total holdings valued at $520.1M. ENVESTNET ASSET MANAGEMENT INC is the largest holder with a position valued at $74.4M.

Overview

Overview of institutional ownership in MLN as of Q3 2025

All Institutions

Institutions: 122
Value Held: $520.1M
Shares Held: 29.8M
Avg Position: $4.3M
Median Position: $654.7K

Hedge Funds

Hedge Funds: 3
Value Held: $13.2M
Shares Held: 754.2K
Avg Position: $4.4M
Median Position: $650.6K

Biggest Investors

Institutions with the largest positions in MLN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$74.4M 0.02% of portfolio	4.3M shares	Q4 2019 Held for 5y 11m	$341.99B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$49.0M 0.00% of portfolio	2.8M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$47.5M 0.02% of portfolio	2.7M shares	Q4 2024 Held for 11 months	$310.43B
Kestra Investment Management, LLC Long Only Manager	Kara Marie Murphy CIO	$30.5M 0.82% of portfolio	1.7M shares	Q2 2024 Held for 1y 5m	$3.7B
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$28.7M 0.01% of portfolio	1.6M shares	Q3 2025 Held for 2 months	$571.21B
Bank of New York Mellon Corp Institution	Robin Vince CEO	$25.4M 0.00% of portfolio	1.5M shares	Q4 2018 Held for 6y 11m	$556.34B
L LPL Financial LLC Institution	-	$24.8M 0.01% of portfolio	1.4M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
HighTower Advisors, LLC RIA/Wealth	Robert David Oros CEO	$24.3M 0.03% of portfolio	1.4M shares	Q4 2022 Held for 2y 11m	$87.7B
M Manhattan West Asset Management, LLC RIA/Wealth	Lorenzo Daniel Esparza Managing Partner	$13.1M 2.78% of portfolio	752.1K shares	Q1 2022 Held for 3y 8m	$472.3M
Bramshill Investments, LLC Hedge Fund•Multi-Strategy	Stephen Christopher Selver CEO	$11.9M 0.81% of portfolio	680.0K shares	Q3 2025 Held for 2 months	$1.5B

Net Capital Flow

Institutional buying and selling activity for MLN in Q3 2025

Traded: +$100.0M
Buyers: 83
Sellers: 38
Total Bought: +$124.1M
Total Sold: −$24.1M
Avg Position: $3.9M

Biggest Buyers

Institution	Net Bought	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$28.7M +1.6M shares	$28.7M 1.6M shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$21.9M +1.3M shares	$74.4M 4.3M shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$13.0M +742.0K shares	$47.5M 2.7M shares
Bramshill Investments, LLC Hedge Fund•Multi-Strategy	+$11.9M +680.0K shares	$11.9M 680.0K shares
L LPL Financial LLC Institution	+$10.0M +570.5K shares	$24.8M 1.4M shares
Summit Financial, LLC RIA/Wealth	+$8.2M +470.8K shares	$8.2M 470.8K shares
ABLE Financial Group, LLC RIA/Wealth	+$4.3M +248.3K shares	$9.5M 541.2K shares
Kestra Investment Management, LLC Long Only Manager	+$2.7M +155.5K shares	$30.5M 1.7M shares
MML INVESTORS SERVICES, LLC RIA/Wealth	+$2.5M +142.3K shares	$6.4M 366.5K shares
PARK AVENUE SECURITIES LLC RIA/Wealth	+$1.6M +89.8K shares	$4.1M 233.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
MORGAN STANLEY RIA/Wealth	−$3.4M −194.2K shares	$11.3M 646.6K shares
Evergreen Private Wealth LLC RIA/Wealth	−$2.8M −167.0K shares	Sold Off 0 shares
Elmwood Wealth Management, Inc. RIA/Wealth	−$2.3M −132.7K shares	$768.6K 44.0K shares
P Pineridge Advisors LLC Institution	−$2.2M −128.1K shares	$1.3M 73.4K shares
JPMORGAN CHASE & CO Institution	−$2.0M −111.8K shares	$5.3M 304.0K shares
HighTower Advisors, LLC RIA/Wealth	−$1.9M −107.0K shares	$24.3M 1.4M shares
Bank of New York Mellon Corp Institution	−$1.5M −87.0K shares	$25.4M 1.5M shares
R ROYAL BANK OF CANADA Institution	−$1.4M −79.1K shares	$959.7K 54.9K shares
BANK OF AMERICA CORP /DE/ Institution	−$809.3K −46.3K shares	$49.0M 2.8M shares
F FLOW TRADERS U.S. LLC Institution	−$582.9K −34.5K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited MLN in Q3 2025

New Positions: 14
New Value: $52.1M
Exited Positions: 11
Exited Value: $4.6M

New Positions

Institution	Position Value
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$28.7M 1.6M shares
Bramshill Investments, LLC Hedge Fund•Multi-Strategy	$11.9M 680.0K shares
Summit Financial, LLC RIA/Wealth	$8.2M 470.8K shares
OLD NATIONAL BANCORP /IN/ Institution	$936.9K 53.6K shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	$436.1K 24.9K shares
Uniting Wealth Partners, LLC RIA/Wealth	$384.7K 22.0K shares
WAGNER CAPITAL MANAGEMENT CORP RIA/Wealth	$263.4K 15.1K shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	$254.7K 14.6K shares
Strategic Blueprint, LLC RIA/Wealth	$248.0K 14.2K shares
Tandem Financial, LLC RIA/Wealth	$216.2K 12.4K shares

Exited Positions

Institution	Previous Position
Evergreen Private Wealth LLC RIA/Wealth	$2.8M 167.0K shares
F FLOW TRADERS U.S. LLC Institution	$582.9K 34.5K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$335.7K 19.9K shares
KEYBANK NATIONAL ASSOCIATION/OH RIA/Wealth	$270.1K 16.0K shares
A Argent Trust Co Institution	$201.1K 11.9K shares
W WILEY BROS.-AINTREE CAPITAL, LLC Institution	$177.7K 10.5K shares
C Colonial Trust Co / SC Institution	$141.9K 8.4K shares
CFG Asset Management LLC RIA/Wealth	$69.5K 4.1K shares
PNC FINANCIAL SERVICES GROUP, INC. Institution	$26.3K 1.6K shares
Keystone Global Partners, LLC RIA/Wealth	$743.0 43.0 shares

Options Activity

Institutions with the largest Call and Put options positions in MLN as of Q3 2025

Call Positions: 1
Call Value: $735.9K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$735.9K 421.0 contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with MLN as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
M Manhattan West Asset Management, LLC RIA/Wealth	Lorenzo Daniel Esparza Managing Partner	2.78% $13.1M	752.1K shares	Q1 2022 Held for 3y 8m	$472.3M
ABLE Financial Group, LLC RIA/Wealth	Adam Michael Brooks CCO	2.06% $9.5M	541.2K shares	Q1 2023 Held for 2y 8m	$458.5M
White & Co Financial Planning Inc RIA/Wealth	James Eric Parker President	1.31% $1.7M	99.3K shares	Q4 2024 Held for 11 months	$132.8M
Kestra Investment Management, LLC Long Only Manager	Kara Marie Murphy CIO	0.82% $30.5M	1.7M shares	Q2 2024 Held for 1y 5m	$3.7B
Bramshill Investments, LLC Hedge Fund•Multi-Strategy	Stephen Christopher Selver CEO	0.81% $11.9M	680.0K shares	Q3 2025 Held for 2 months	$1.5B
Tortoise Investment Management, LLC RIA/Wealth	Justin Scott Singer Managing Partner	0.80% $8.9M	511.5K shares	Q1 2017 Held for 8y 8m	$1.1B
MidWestOne Financial Group, Inc. Institution	Len D. Devaisher CEO	0.72% $5.9M	338.2K shares	Q1 2021 Held for 4y 8m	$823.4M
B Bowman & Co S.C. Institution	-	0.58% $1.4M	78.3K shares	Q2 2025 Held for 5 months	$236.0M
Willis Johnson & Associates, Inc. RIA/Wealth	Willis Anthony Johnson CEO	0.58% $9.3M	533.0K shares	Q4 2023 Held for 1y 11m	$1.6B
OGOREK ANTHONY JOSEPH /NY/ /ADV RIA/Wealth	Anthony Joseph Ogorek Founder	0.56% $1.9M	107.8K shares	Q3 2022 Held for 3y 2m	$339.4M

Hedge Fund Spotlight

Discover hedge funds investing in MLN

Bramshill Investments, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerStephen Christopher Selver

Portfolio Value: $1.5B
Positions: 150
Last Reported: Q3 2025

Sector Allocation

Position in VanEck Long Muni

Market Value: $11.9M
Shares Held: 680.0K
Portfolio Weight: 0.81%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 iShares 0-5 Year High Yield Corporate Bond SHYG	ETF ETF	$376.4M	25.70%
2 iShares Preferred and Income Securities ETF PFF	ETF ETF	$197.3M	13.47%
3 iShares 20+ Year Treasury Bond TLT	ETF ETF	$143.6M	9.81%