Vault-13

ABRDN NATL MUN INCOME FD

SH BEN INT · CUSIP 24610T108

54 institutional holders +0 vs Q4 2025
4,144,6284.1m shares reported held*
$41.4mreported value*
8 new 17 added 9 reduced 6 sold out net bought ≈ $3.3m (+330.0k 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 ≈ $9.98.

Trends to Q1 2026

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: 49Q2 25: 52Q3 25: 51Q4 25: 54Q1 26: 5454Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 202257
Q4 202237
Q1 202344
Q2 202342
Q3 202352
Q4 202359
Q1 202455
Q2 202452
Q3 202451
Q4 202459
Q1 202549
Q2 202552
Q3 202551
Q4 202554
Q1 202654

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 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 25Q2 25: 23 bought or addedQ2 25: 13 cut or sold outQ3 25: 21 bought or addedQ3 25: 18 cut or sold outQ3 25Q4 25: 25 bought or addedQ4 25: 19 cut or sold outQ1 26: 25 bought or addedQ1 26: 15 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20241422
Q3 20241623
Q4 20242020
Q1 20251230
Q2 20252313
Q3 20252118
Q4 20252519
Q1 20262515

Biggest buyers

Pathstone Holdings, LLC Added +174,738+174.7k
ROBINSON CAPITAL MANAGEMENT, LLC New +56,842+56.8k
SIT INVESTMENT ASSOCIATES INC Added +49,438+49.4k
Karpus Management, Inc. New +42,457+42.5k
RIVERNORTH CAPITAL MANAGEMENT, LLC Added +37,141+37.1k
Hennion & Walsh Asset Management, Inc. Added +31,853+31.9k
Bank of New York Mellon Corp New +23,623+23.6k
RIVERBRIDGE PARTNERS LLC Added +18,933+18.9k
Noble Wealth Management PBC Added +17,531+17.5k
Logan Stone Capital, LLC Added +16,663+16.7k

Biggest sellers

Saba Capital Management, L.P. Sold out -85,645-85.6k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -36,018-36.0k
Thomas J. Herzfeld Advisors, Inc. Sold out -35,909-35.9k
Prime Capital Investment Advisors, LLC Sold out -17,143-17.1k
PFG Investments, LLC Sold out -15,000-15.0k
HighTower Advisors, LLC Sold out -11,717-11.7k
NOMURA HOLDINGS INC Sold out -10,562-10.6k
GUGGENHEIM CAPITAL LLC Reduced -10,084-10.1k
Steward Partners Investment Advisory, LLC Reduced -4,135-4.1k
Sightline Wealth Advisors, LLC Reduced -3,370-3.4k

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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Pathstone Holdings, LLC 0.02% of their portfolio ENGLEWOOD, NJ 594,149594.1k $5.9m $5.9m 0.02% Added +174.7k +174,738
2 MacKay Shields LLC 0.15% of their portfolio New York, NY 401,695401.7k $4.0m $4.0m 0.15% Unchanged
3 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 353,273353.3k $3.5m $3.5m 0.01% Unchanged
4 Hennion & Walsh Asset Management, Inc. 0.09% of their portfolio Parsippany, NJ 273,104273.1k $2.7m $2.7m 0.09% Added +31.9k +31,853
5 GUGGENHEIM CAPITAL LLC 0.02% of their portfolio CHICAGO, IL 242,993243.0k $2.4m $2.4m 0.02% Reduced -10.1k -10,084
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 221,031221.0k $2.2m $2.2m 0.00% Reduced -406 -406
7 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.11% of their portfolio WEST PALM BEACH, FL 215,995216.0k $2.2m $2.2m 0.11% Added +37.1k +37,141
8 RIVERBRIDGE PARTNERS LLC 0.05% of their portfolio MINNEAPOLIS, MN 194,085194.1k $1.9m $1.9m 0.05% Added +18.9k +18,933
9 Matisse Capital 0.74% of their portfolio PORTLAND, OR 174,693174.7k $1.7m $1.7m 0.74% Unchanged
10 Closed-End Fund Advisors, Inc. 1.56% of their portfolio RICHMOND, VA 153,715153.7k $1.5m $1.5m 1.56% Added +12.8k +12,809
11 Logan Stone Capital, LLC 0.36% of their portfolio CHICAGO, IL 130,148130.1k $1.3m $1.3m 0.36% Added +16.7k +16,663
12 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 116,909116.9k $1.2m $1.2m 0.00% Added +13.3k +13,265
13 SIT INVESTMENT ASSOCIATES INC 0.02% of their portfolio Minneapolis, MN 100,445100.4k $1.0m $1.0m 0.02% Added +49.4k +49,438
14 Realta Investment Advisors 0.33% of their portfolio WILMINGTON, DE 95,19295.2k $948.1k $948.1k 0.33% Unchanged
15 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 95,15495.2k $947.7k $947.7k 0.00% Added +16.1k +16,144
16 Noble Wealth Management PBC 0.42% of their portfolio GREENWOOD VILLAGE, CO 81,36381.4k $810.4k $810.4k 0.42% Added +17.5k +17,531
17 ROBINSON CAPITAL MANAGEMENT, LLC 0.29% of their portfolio GROSSE POINTE FARMS, MI 56,84256.8k $641.2k $641.2k 0.29% New
18 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.07% of their portfolio BLUE BELL, PA 49,72549.7k $495.3k $495.3k 0.07% Reduced -932 -932
19 Karpus Management, Inc. 0.01% of their portfolio Pittsford, NY 42,45742.5k $422.9k $422.9k 0.01% New
20 Capital Investment Advisors, LLC 0.01% of their portfolio ATLANTA, GA 41,35441.4k $411.9k $411.9k 0.01% Reduced -735 -735
21 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 38,69538.7k $385.0k $385.0k 0.00% Added +4.5k +4,526
22 MELFA WEALTH MANAGEMENT, INC. 0.16% of their portfolio WESTBOROUGH, MA 27,21027.2k $271.0k $271.0k 0.16% Unchanged
23 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 26,80826.8k $267.0k $267.0k 0.00% Added +35 +35
24 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 25,76625.8k $256.6k $256.6k 0.00% Reduced -4.1k -4,135
25 Whipplewood Advisors, LLC 0.13% of their portfolio LITTLETON, CO 24,91724.9k $248.2k $248.2k 0.13% Unchanged
26 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 24,81024.8k $247.1k $247.1k 0.00% Added +7.0k +7,010
27 Hara Capital LLC 0.12% of their portfolio BELLEVUE, WA 24,60024.6k $245.0k $245.0k 0.12% Unchanged
28 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 24,17124.2k $240.7k $240.7k 0.00% Added +118 +118
29 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 23,68723.7k $234.0k $234.0k 0.00% Reduced -36.0k -36,018
30 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 23,62323.6k $235.3k $235.3k 0.00% New
31 Element Wealth, LLC 0.09% of their portfolio RIDGELAND, MS 23,02023.0k $229.3k $229.3k 0.09% Unchanged
32 Berger Financial Group, Inc 0.01% of their portfolio PLYMOUTH, MN 19,35819.4k $192.8k $192.8k 0.01% Added +116 +116
33 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 16,83616.8k $167.7k $167.7k 0.00% Reduced -116 -116
34 Koshinski Asset Management, Inc. 0.01% of their portfolio DECATUR, IL 16,01216.0k $159.5k $159.5k 0.01% Unchanged
35 Ackerman Capital Advisors, LLC 0.03% of their portfolio DALLAS, TX 15,35815.4k $153.0k $153.0k 0.03% New
36 OneAscent Financial Services LLC 0.01% of their portfolio BIRMINGHAM, AL 14,00014.0k $139.4k $139.4k 0.01% New
37 GEN Financial Management, INC. 0.08% of their portfolio PLYMOUTH, MN 13,32413.3k $132.7k $132.7k 0.08% Unchanged
38 HighMark Wealth Management LLC 0.05% of their portfolio ST. PAUL, MN 12,88012.9k $128.3k $128.3k 0.05% Unchanged
39 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 12,30212.3k $122.5k $122.5k 0.00% Added +1.3k +1,304
40 Traub Capital Management LLC 0.12% of their portfolio NEEDHAM, MA 12,21812.2k $121.7k $121.7k 0.12% Unchanged
41 Basepoint Wealth LLC 0.07% of their portfolio CEDAR RAPIDS, IA 11,90011.9k $118.5k $118.5k 0.07% Added +232 +232
42 River Street Advisors LLC 0.04% of their portfolio AURORA, IL 11,84511.8k $118.0k $118.0k 0.04% Unchanged
43 Sightline Wealth Advisors, LLC 0.05% of their portfolio GROTON, CT 11,79111.8k $117.4k $117.4k 0.05% Reduced -3.4k -3,370
44 Curi Capital, LLC 0.00% of their portfolio CHICAGO, IL 10,82210.8k $107.8k $107.8k 0.00% Unchanged
45 UBS Group AG 0.00% of their portfolio ZURICH, V8 10,27210.3k $102.3k $102.3k 0.00% Reduced -303 -303
46 CWM, LLC 0.00% of their portfolio OMAHA, NE 8,7528.8k $87.2k $87.2k 0.00% Unchanged
47 Financial Gravity Asset Management, Inc. 0.01% of their portfolio Lakeway, TX 8,1038.1k $80.7k $80.7k 0.01% Unchanged
48 MRP Capital Investments, LLC 0.07% of their portfolio ALPHARETTA, GA 8,0008.0k $79.7k $79.7k 0.07% Unchanged
49 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 3,6253.6k $36.1k $36.1k 0.00% New
50 GILL CAPITAL PARTNERS, LLC 0.01% of their portfolio DENVER, CO 2,5512.6k $25.4k $25.4k 0.01% New
51 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 1,7421.7k $17.4k $17.4k 0.00% New
52 BAYBAN 0.00% of their portfolio Bayport, MN 565565 $5.6k $5.6k 0.00% Unchanged
53 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 470470 $4.7k $4.7k 0.00% Unchanged
54 Signature Equity Partners, LLC 0.00% of their portfolio COLUMBUS, OH 273273 $2.7k $2.7k 0.00% Unchanged