SPDR Nuveen Bloomberg Municipal Bond

TFI • ARCA

SPDR Nuveen Bloomberg Municipal Bond is an exchange-traded fund on ARCA. As of Q3 2025, 290 institutional investors hold shares in this ETF, with total holdings valued at $2.8B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $620.0M.

Overview

Overview of institutional ownership in TFI as of Q3 2025

All Institutions

Institutions: 290
Value Held: $2.8B
Shares Held: 62.0M
Avg Position: $9.7M
Median Position: $628.0K

Hedge Funds

Hedge Funds: 7
Value Held: $13.6M
Shares Held: 298.5K
Avg Position: $1.9M
Median Position: $649.8K

Biggest Investors

Institutions with the largest positions in TFI as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$620.0M 0.05% of portfolio	13.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
Betterment LLC RIA/Wealth	Sarah Kirshbaum Levy CEO	$574.8M 1.22% of portfolio	12.6M shares	Q4 2014 Held for 10y 11m	$47.3B
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	-	$238.2M 0.16% of portfolio	5.2M shares	≤ Q2 2013 Held for 12y 5m+	$149.83B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$162.3M 0.01% of portfolio	3.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
F Fisher Asset Management, LLC Institution	-	$122.5M 0.04% of portfolio	2.7M shares	≤ Q2 2013 Held for 12y 5m+	$276.29B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$97.2M 0.03% of portfolio	2.1M shares	≤ Q2 2013 Held for 12y 5m+	$341.99B
BANK OF MONTREAL /CAN/ Institution	Darryl White CEO	$87.8M 0.04% of portfolio	1.9M shares	≤ Q2 2013 Held for 12y 5m+	$227.19B
L LPL Financial LLC Institution	-	$68.2M 0.02% of portfolio	1.5M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$39.6M 0.01% of portfolio	870.0K shares	Q3 2025 Held for 2 months	$571.21B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$38.2M 0.01% of portfolio	839.0K shares	Q4 2024 Held for 11 months	$310.43B

Net Capital Flow

Institutional buying and selling activity for TFI in Q3 2025

Traded: +$29.1M
Buyers: 132
Sellers: 123
Total Bought: +$168.3M
Total Sold: −$139.2M
Avg Position: $8.9M

Biggest Buyers

Institution	Net Bought	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$39.6M +870.0K shares	$39.6M 870.0K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$13.9M +303.9K shares	$97.2M 2.1M shares
BANK OF MONTREAL /CAN/ Institution	+$11.6M +253.7K shares	$87.8M 1.9M shares
R ROYAL BANK OF CANADA Institution	+$9.6M +210.2K shares	$20.3M 445.3K shares
PARK AVENUE SECURITIES LLC RIA/Wealth	+$9.1M +200.7K shares	$15.4M 337.2K shares
ACT Advisors, LLC. RIA/Wealth	+$8.4M +184.4K shares	$8.4M 184.4K shares
L LPL Financial LLC Institution	+$8.1M +177.0K shares	$68.2M 1.5M shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	+$5.7M +125.0K shares	$238.2M 5.2M shares
CULLEN/FROST BANKERS, INC. Institution	+$5.4M +118.5K shares	$10.0M 219.9K shares
SEEDS INVESTOR LLC Long Only Manager	+$4.2M +93.2K shares	$7.6M 166.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
Betterment LLC RIA/Wealth	−$23.4M −513.3K shares	$574.8M 12.6M shares
F Fisher Asset Management, LLC Institution	−$19.1M −418.5K shares	$122.5M 2.7M shares
SRS Capital Advisors, Inc. RIA/Wealth	−$15.8M −352.8K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$13.9M −304.2K shares	$5.4M 119.6K shares
Streettalk Advisors, LLC RIA/Wealth	−$9.7M −212.5K shares	$9.3M 203.7K shares
Sterling Financial Group, Inc. RIA/Wealth	−$7.8M −175.7K shares	Sold Off 0 shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$5.5M −121.4K shares	$902.3K 19.8K shares
JPMORGAN CHASE & CO Institution	−$5.3M −117.1K shares	$29.4M 646.0K shares
CLIFTONLARSONALLEN WEALTH ADVISORS, LLC RIA/Wealth	−$3.9M −85.3K shares	$13.0M 285.6K shares
WELLS FARGO & COMPANY/MN Institution	−$2.4M −52.7K shares	$22.6M 495.7K shares

Entry and Exit Activity

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

New Positions: 11
New Value: $46.9M
Exited Positions: 26
Exited Value: $31.5M

New Positions

Institution	Position Value
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$39.6M 870.0K shares
ASHTON THOMAS SECURITIES, LLC RIA/Wealth	$3.9M 85.4K shares
MANNING & NAPIER ADVISORS LLC RIA/Wealth	$2.3M 50.2K shares
Uniting Wealth Partners, LLC RIA/Wealth	$499.0K 11.0K shares
S ShoreHaven Wealth Partners, LLC RIA/Wealth	$304.5K 6.7K shares
NBC SECURITIES, INC. RIA/Wealth	$159.5K 3.5K shares
R Root Financial Partners, LLC RIA/Wealth	$134.8K 3.0K shares
BOYD WATTERSON ASSET MANAGEMENT LLC/OH Long Only Manager	$15.1K 331.0 shares
Union Bankshares Corp Institution	$2.4K 52.0 shares
Grey Fox Wealth Advisors, LLC RIA/Wealth	$2.1K 46.0 shares

Exited Positions

Institution	Previous Position
SRS Capital Advisors, Inc. RIA/Wealth	$15.8M 352.8K shares
Sterling Financial Group, Inc. RIA/Wealth	$7.8M 175.7K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$2.0M 44.7K shares
Forefront Wealth Partners, LLC RIA/Wealth	$831.1K 18.2K shares
T TWO SIGMA SECURITIES, LLC Institution	$633.9K 14.2K shares
SAGE FINANCIAL GROUP INC RIA/Wealth	$521.7K 11.7K shares
HPM Partners LLC RIA/Wealth	$411.4K 9.2K shares
O OLD MISSION CAPITAL LLC Institution	$408.6K 9.1K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$369.3K 8.3K shares
Miracle Mile Advisors, LLC RIA/Wealth	$366.4K 8.2K shares

Options Activity

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

Call Positions: 1
Call Value: $6.2M
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
ROBINSON CAPITAL MANAGEMENT, LLC Long Only Manager	$6.2M 1.4K contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
ACT Advisors, LLC. RIA/Wealth	Roger Wesley Johnson Managing Partner	3.40% $8.4M	184.4K shares	Q3 2025 Held for 2 months	$247.1M
NOVUS ADVISORS, LLC RIA/Wealth	Christopher George Connelly Member	2.74% $1.2M	25.4K shares	Q4 2024 Held for 11 months	$42.2M
Austin Private Wealth, LLC RIA/Wealth	Kieu Thi Le Managing Partner	2.62% $33.0M	725.2K shares	Q4 2022 Held for 2y 11m	$1.3B
Revolve Wealth Partners, LLC RIA/Wealth	Michael Scott Israel Managing Partner	2.31% $19.2M	421.4K shares	Q4 2021 Held for 3y 11m	$831.4M
Fourth Dimension Wealth, LLC RIA/Wealth	Douglas Ryan Magers CEO	1.61% $4.2M	92.1K shares	Q4 2024 Held for 11 months	$261.2M
SEEDS INVESTOR LLC Long Only Manager	Zachary Adam Conway CEO	1.61% $7.6M	166.9K shares	Q2 2025 Held for 5 months	$473.3M
INTEGRATED CAPITAL MANAGEMENT, INC. RIA/Wealth	Joseph Clayton Perfilio President	1.35% $1.9M	42.3K shares	Q3 2025 Held for 2 months	$143.5M
Betterment LLC RIA/Wealth	Sarah Kirshbaum Levy CEO	1.22% $574.8M	12.6M shares	Q4 2014 Held for 10y 11m	$47.3B
PURE PORTFOLIOS HOLDINGS LLC RIA/Wealth	William Allen Weber Managing Partner	1.20% $3.8M	84.4K shares	Q3 2024 Held for 1y 2m	$319.8M
C COLLECTIVE FAMILY OFFICE LLC Family Office	Brian David Luster Managing Partner	1.05% $4.4M	95.9K shares	Q4 2023 Held for 1y 11m	$416.6M

Hedge Fund Spotlight

Discover hedge funds investing in TFI

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in SPDR Nuveen Bloomberg Municipal Bond

Market Value: $1.0M
Shares Held: 22.8K
Portfolio Weight: 0.00%
Owned Since: 2023-Q3

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%