Vault-13

ABRDN NATL MUN INCOME FD

SH BEN INT · CUSIP 24610T108

49 institutional holders -10 vs Q4 2024
2,858,6792.9m shares reported held*
$29.5mreported value*
2 new 10 added 19 reduced 11 sold out net sold ≈ $2.2m (-259.3k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $10.31.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 57Q4 22: 37Q1 23: 44Q2 23: 42Q3 23: 52Q4 23: 59Q1 24: 55Q2 24: 52Q3 24: 51Q4 24: 59Q1 25: 4949Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 202257
Q4 202237
Q1 202344
Q2 202342
Q3 202352
Q4 202359
Q1 202455
Q2 202452
Q3 202451
Q4 202459
Q1 202549

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q2 23: 17 bought or addedQ2 23: 19 cut or sold outQ3 23: 30 bought or addedQ3 23: 10 cut or sold outQ3 23Q4 23: 29 bought or addedQ4 23: 24 cut or sold outQ1 24: 20 bought or addedQ1 24: 25 cut or sold outQ1 24Q2 24: 14 bought or addedQ2 24: 22 cut or sold outQ3 24: 16 bought or addedQ3 24: 23 cut or sold outQ3 24Q4 24: 20 bought or addedQ4 24: 20 cut or sold outQ1 25: 12 bought or addedQ1 25: 30 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 20231719
Q3 20233010
Q4 20232924
Q1 20242025
Q2 20241422
Q3 20241623
Q4 20242020
Q1 20251230

Biggest buyers

RIVERBRIDGE PARTNERS LLC Added +83,011+83.0k
Pathstone Holdings, LLC Added +33,433+33.4k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. New +10,712+10.7k
Thomas J. Herzfeld Advisors, Inc. Added +6,206+6.2k
Ackerman Capital Advisors, LLC Added +4,320+4.3k
BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC Added +2,635+2.6k
MORGAN STANLEY Added +2,602+2.6k
Elequin Capital, LP New +1,945+1.9k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +1,165+1.2k
Catalina Capital Group, LLC Added +733+733

Biggest sellers

GUGGENHEIM CAPITAL LLC Reduced -114,494-114.5k
Whipplewood Advisors, LLC Reduced -45,633-45.6k
Hara Capital LLC Reduced -39,800-39.8k
Sightline Wealth Advisors, LLC Sold out -31,393-31.4k
KINGSWOOD WEALTH ADVISORS, LLC Sold out -29,525-29.5k
AQR Arbitrage LLC Reduced -28,252-28.3k
VAN ECK ASSOCIATES CORP Reduced -18,608-18.6k
RAYMOND JAMES FINANCIAL INC Sold out -16,516-16.5k
Logan Stone Capital, LLC Reduced -14,891-14.9k
NOMURA HOLDINGS INC Sold out -14,300-14.3k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: Toronto Dominion Investments, Inc. (0.0%, 2026-06-18), FIRST TRUST PORTFOLIOS LP (4.2%, 2026-04-30)

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MacKay Shields LLC 0.13% of their portfolio New York, NY 401,695401.7k $4.1m $4.1m 0.13% Unchanged
2 Hennion & Walsh Asset Management, Inc. 0.11% of their portfolio Parsippany, NJ 239,263239.3k $2.4m $2.4m 0.11% Reduced -1.9k -1,911
3 Logan Stone Capital, LLC 0.90% of their portfolio CHICAGO, IL 190,084190.1k $1.9m $1.9m 0.90% Reduced -14.9k -14,891
4 GUGGENHEIM CAPITAL LLC 0.02% of their portfolio CHICAGO, IL 176,291176.3k $1.8m $1.8m 0.02% Reduced -114.5k -114,494
5 Saba Capital Management, L.P. 0.05% of their portfolio NEW YORK, NY 174,177174.2k $1.8m $1.8m 0.05% Unchanged
6 Matisse Capital 0.91% of their portfolio PORTLAND, OR 170,000170.0k $1.7m $1.7m 0.91% Unchanged
7 Allspring Global Investments Holdings, LLC 0.00% of their portfolio CHARLOTTE, NC 158,647158.6k $1.6m $1.6m 0.00% Unchanged
8 Pathstone Holdings, LLC 0.01% of their portfolio ENGLEWOOD, NJ 130,859130.9k $1.3m $1.3m 0.01% Added +33.4k +33,433
9 Noble Wealth Management PBC 0.79% of their portfolio GREENWOOD VILLAGE, CO 113,535113.5k $1.2m $1.2m 0.79% Reduced -95 -95
10 RIVERBRIDGE PARTNERS LLC 0.02% of their portfolio MINNEAPOLIS, MN 113,357113.4k $1.1m $1.1m 0.02% Added +83.0k +83,011
11 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.05% of their portfolio WEST PALM BEACH, FL 100,181100.2k $1.0m $1.0m 0.05% Unchanged
12 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 85,53885.5k $867.0k $867.0k 0.00% Reduced -18.6k -18,608
13 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 69,70069.7k $706.8k $706.8k 0.00% Added +1.2k +1,165
14 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 65,23465.2k $661.5k $661.5k 0.00% Added +2.6k +2,602
15 Realta Investment Advisors 0.28% of their portfolio WILMINGTON, DE 60,07360.1k $609.1k $609.1k 0.28% Unchanged
16 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 56,41956.4k $572.1k $572.1k 0.00% Reduced -8.3k -8,277
17 Capital Investment Advisors, LLC 0.01% of their portfolio ATLANTA, GA 42,60442.6k $432.0k $432.0k 0.01% Reduced -1.0k -1,000
18 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.08% of their portfolio BLUE BELL, PA 41,36841.4k $419.5k $419.5k 0.08% Added +2.6k +2,635
19 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 38,27138.3k $388.0k $388.0k 0.00% Reduced -441 -441
20 Hara Capital LLC 0.25% of their portfolio BELLEVUE, WA 36,60036.6k $371.1k $371.1k 0.25% Reduced -39.8k -39,800
21 Thomas J. Herzfeld Advisors, Inc. 0.11% of their portfolio MIAMI BEACH, FL 31,32131.3k $317.6k $317.6k 0.11% Added +6.2k +6,206
22 MELFA WEALTH MANAGEMENT, INC. 0.19% of their portfolio WESTBOROUGH, MA 27,56527.6k $279.5k $279.5k 0.19% Reduced -2.9k -2,900
23 AQR Arbitrage LLC 0.01% of their portfolio Greenwich, CT 27,39727.4k $277.8k $277.8k 0.01% Reduced -28.3k -28,252
24 Catalina Capital Group, LLC 0.18% of their portfolio Torrance, CA 27,19527.2k $275.8k $275.8k 0.18% Added +733 +733
25 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 26,71326.7k $270.9k $270.9k 0.00% Reduced -4.1k -4,131
26 Element Wealth, LLC 0.13% of their portfolio RIDGELAND, MS 23,02023.0k $233.4k $233.4k 0.13% Unchanged
27 Prime Capital Investment Advisors, LLC 0.00% of their portfolio OVERLAND PARK, KS 22,05722.1k $223.7k $223.7k 0.00% Unchanged
28 Berger Financial Group, Inc 0.01% of their portfolio PLYMOUTH, MN 21,13321.1k $214.3k $214.3k 0.01% Reduced -3.0k -2,985
29 Ackerman Capital Advisors, LLC 0.05% of their portfolio DALLAS, TX 18,17018.2k $184.2k $184.2k 0.05% Added +4.3k +4,320
30 Koshinski Asset Management, Inc. 0.01% of their portfolio DECATUR, IL 16,01216.0k $162.4k $162.4k 0.01% Unchanged
31 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 15,24415.2k $154.6k $154.6k 0.00% Reduced -207 -207
32 OneAscent Financial Services LLC 0.01% of their portfolio BIRMINGHAM, AL 14,00014.0k $143.0k $143.0k 0.01% Unchanged
33 UBS Group AG 0.00% of their portfolio ZURICH, V8 13,55013.6k $137.4k $137.4k 0.00% Reduced -2.6k -2,632
34 GEN Financial Management, INC. 0.09% of their portfolio PLYMOUTH, MN 13,32413.3k $135.1k $135.1k 0.09% Unchanged
35 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 12,92912.9k $131.1k $131.1k 0.00% Added +2 +2
36 HighMark Wealth Management LLC 0.08% of their portfolio ST. PAUL, MN 12,88012.9k $130.6k $130.6k 0.08% Unchanged
37 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 12,78912.8k $129.7k $129.7k 0.00% Reduced -4.0k -4,031
38 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 12,05212.1k $122.2k $122.2k 0.00% Reduced -2.3k -2,273
39 Basepoint Wealth LLC 0.09% of their portfolio CEDAR RAPIDS, IA 11,22311.2k $113.8k $113.8k 0.09% Added +214 +214
40 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.01% of their portfolio Englewood, NJ 10,71210.7k $108.6k $108.6k 0.01% New
41 CWM, LLC 0.00% of their portfolio OMAHA, NE 8,7528.8k $89.0k $89.0k 0.00% Reduced -375 -375
42 PRINCIPAL SECURITIES, INC. 0.00% of their portfolio DES MOINES, IA 5,0975.1k $51.6k $51.6k 0.00% Unchanged
43 Financial Gravity Asset Management, Inc. 0.01% of their portfolio Lakeway, TX 4,7504.8k $48.2k $48.2k 0.01% First filing
44 COMERICA BANK 0.00% of their portfolio DALLAS, TX 3,6253.6k $36.8k $36.8k 0.00% Unchanged
45 Elequin Capital, LP 0.00% of their portfolio NEW YORK, NY 1,9451.9k $19.7k $19.7k 0.00% New
46 GPS Wealth Strategies Group, LLC 0.00% of their portfolio CENTENNIAL, CO 774774 $7.8k $7.8k 0.00% Unchanged
47 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 470470 $4.8k $4.8k 0.00% Unchanged
48 Whipplewood Advisors, LLC 0.28% of their portfolio LITTLETON, CO 8484 $473.1k $473.1k 0.28% Reduced -45.6k -45,633
49 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged