Vault-13

ABRDN NATL MUN INCOME FD

SH BEN INT · CUSIP 24610T108

54 institutional holders +0 vs Q1 2026
4,492,4594.5m shares reported held*
$46.7mreported value*
5 new 16 added 13 reduced 5 sold out net bought ≈ $3.7m (+356.5k 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 ≈ $10.40.

Trends to Q2 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: 54Q2 26: 5454Q3 22Q3 23Q3 24Q3 25Q2 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
Q2 202654

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 16 bought or addedQ3 24: 23 cut or sold outQ4 24: 20 bought or addedQ4 24: 20 cut or sold outQ4 24Q1 25: 12 bought or addedQ1 25: 30 cut or sold outQ2 25: 23 bought or addedQ2 25: 13 cut or sold outQ2 25Q3 25: 21 bought or addedQ3 25: 18 cut or sold outQ4 25: 25 bought or addedQ4 25: 19 cut or sold outQ4 25Q1 26: 25 bought or addedQ1 26: 15 cut or sold outQ2 26: 21 bought or addedQ2 26: 18 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20241623
Q4 20242020
Q1 20251230
Q2 20252313
Q3 20252118
Q4 20252519
Q1 20262515
Q2 20262118

Biggest buyers

Pathstone Holdings, LLC Added +131,828+131.8k
RIVERNORTH CAPITAL MANAGEMENT, LLC Added +92,516+92.5k
SIT INVESTMENT ASSOCIATES INC Added +73,337+73.3k
Karpus Management, Inc. Added +71,818+71.8k
ROBINSON CAPITAL MANAGEMENT, LLC Added +66,149+66.1k
LPL Financial LLC Added +42,550+42.5k
Almitas Capital LLC New +37,221+37.2k
MORGAN STANLEY Added +20,612+20.6k
ABSOLUTE INVESTMENT ADVISERS, LLC New +11,856+11.9k
NewEdge Advisors, LLC Added +9,059+9.1k

Biggest sellers

Logan Stone Capital, LLC Sold out -130,148-130.1k
Steward Partners Investment Advisory, LLC Sold out -25,766-25.8k
GUGGENHEIM CAPITAL LLC Reduced -21,382-21.4k
GEN Financial Management, INC. Sold out -13,324-13.3k
WELLS FARGO & COMPANY/MN Reduced -8,702-8.7k
Basepoint Wealth LLC Reduced -5,764-5.8k
Hennion & Walsh Asset Management, Inc. Reduced -4,257-4.3k
Ackerman Capital Advisors, LLC Reduced -3,664-3.7k
Capital Investment Advisors, LLC Reduced -3,000-3.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -2,079-2.1k

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, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Pathstone Holdings, LLC 0.02% of their portfolio ENGLEWOOD, NJ 725,977726.0k $7.5m $7.5m 0.02% Added +131.8k +131,828
2 MacKay Shields LLC 0.14% of their portfolio New York, NY 401,695401.7k $4.2m $4.2m 0.14% Unchanged
3 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 353,273353.3k $3.7m $3.7m 0.01% Unchanged
4 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.15% of their portfolio WEST PALM BEACH, FL 308,511308.5k $3.2m $3.2m 0.15% Added +92.5k +92,516
5 Hennion & Walsh Asset Management, Inc. 0.08% of their portfolio Parsippany, NJ 268,847268.8k $2.8m $2.8m 0.08% Reduced -4.3k -4,257
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 241,643241.6k $2.5m $2.5m 0.00% Added +20.6k +20,612
7 GUGGENHEIM CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 221,611221.6k $2.3m $2.3m 0.01% Reduced -21.4k -21,382
8 RIVERBRIDGE PARTNERS LLC 0.06% of their portfolio MINNEAPOLIS, MN 193,519193.5k $2.0m $2.0m 0.06% Reduced -566 -566
9 Matisse Capital 0.73% of their portfolio PORTLAND, OR 174,693174.7k $1.8m $1.8m 0.73% Unchanged
10 SIT INVESTMENT ASSOCIATES INC 0.03% of their portfolio Minneapolis, MN 173,782173.8k $1.8m $1.8m 0.03% Added +73.3k +73,337
11 Closed-End Fund Advisors, Inc. 1.60% of their portfolio RICHMOND, VA 158,424158.4k $1.6m $1.6m 1.60% Added +4.7k +4,709
12 ROBINSON CAPITAL MANAGEMENT, LLC 0.62% of their portfolio GROSSE POINTE FARMS, MI 122,991123.0k $1.4m $1.4m 0.62% Added +66.1k +66,149
13 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 118,409118.4k $1.2m $1.2m 0.00% Added +1.5k +1,500
14 Karpus Management, Inc. 0.03% of their portfolio Pittsford, NY 114,275114.3k $1.2m $1.2m 0.03% Added +71.8k +71,818
15 Realta Investment Advisors 0.31% of their portfolio WILMINGTON, DE 95,19295.2k $987.1k $987.1k 0.31% Unchanged
16 Noble Wealth Management PBC 0.42% of their portfolio GREENWOOD VILLAGE, CO 89,75089.8k $930.7k $930.7k 0.42% Added +8.4k +8,387
17 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 86,45286.5k $896.5k $896.5k 0.00% Reduced -8.7k -8,702
18 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 69,35869.4k $719.2k $719.2k 0.00% Added +42.5k +42,550
19 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.06% of their portfolio BLUE BELL, PA 48,31948.3k $501.1k $501.1k 0.06% Reduced -1.4k -1,406
20 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 39,12139.1k $406.0k $406.0k 0.00% Added +426 +426
21 Capital Investment Advisors, LLC 0.01% of their portfolio ATLANTA, GA 38,35438.4k $397.7k $397.7k 0.01% Reduced -3.0k -3,000
22 Almitas Capital LLC 0.09% of their portfolio SANTA MONICA, CA 37,22137.2k $386.0k $386.0k 0.09% New
23 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 33,86933.9k $351.2k $351.2k 0.00% Added +9.1k +9,059
24 MELFA WEALTH MANAGEMENT, INC. 0.15% of their portfolio WESTBOROUGH, MA 27,21027.2k $282.2k $282.2k 0.15% Unchanged
25 Whipplewood Advisors, LLC 0.18% of their portfolio LITTLETON, CO 25,96126.0k $269.2k $269.2k 0.18% Added +1.0k +1,044
26 Hara Capital LLC 0.13% of their portfolio BELLEVUE, WA 24,60024.6k $255.7k $255.7k 0.13% Unchanged
27 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 23,68723.7k $244.2k $244.2k 0.00% Unchanged
28 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 23,62223.6k $245.0k $245.0k 0.00% Reduced -1 -1
29 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 22,11722.1k $229.4k $229.4k 0.00% Reduced -2.1k -2,054
30 Element Wealth, LLC 0.08% of their portfolio RIDGELAND, MS 21,02021.0k $218.0k $218.0k 0.08% Reduced -2.0k -2,000
31 Berger Financial Group, Inc 0.01% of their portfolio PLYMOUTH, MN 19,44319.4k $201.6k $201.6k 0.01% Added +85 +85
32 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 16,58916.6k $172.0k $172.0k 0.00% Added +4.3k +4,287
33 Koshinski Asset Management, Inc. 0.01% of their portfolio DECATUR, IL 16,01216.0k $166.0k $166.0k 0.01% Unchanged
34 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 14,75714.8k $153.0k $153.0k 0.00% Reduced -2.1k -2,079
35 OneAscent Financial Services LLC 0.01% of their portfolio BIRMINGHAM, AL 14,00014.0k $145.2k $145.2k 0.01% Unchanged
36 HighMark Wealth Management LLC 0.04% of their portfolio ST. PAUL, MN 12,88012.9k $133.6k $133.6k 0.04% Unchanged
37 Sightline Wealth Advisors, LLC 0.05% of their portfolio GROTON, CT 11,92211.9k $123.6k $123.6k 0.05% Added +131 +131
38 ABSOLUTE INVESTMENT ADVISERS, LLC 0.01% of their portfolio ROSEMARY BEACH, FL 11,85611.9k $122.9k $122.9k 0.01% New
39 River Street Advisors LLC 0.04% of their portfolio AURORA, IL 11,84511.8k $122.8k $122.8k 0.04% Unchanged
40 Ackerman Capital Advisors, LLC 0.02% of their portfolio DALLAS, TX 11,69411.7k $121.3k $121.3k 0.02% Reduced -3.7k -3,664
41 Curi Capital, LLC 0.00% of their portfolio CHICAGO, IL 10,82210.8k $112.5k $112.5k 0.00% Unchanged
42 Traub Capital Management LLC 0.10% of their portfolio NEEDHAM, MA 10,41210.4k $108.0k $108.0k 0.10% Reduced -1.8k -1,806
43 UBS Group AG 0.00% of their portfolio ZURICH, V8 10,27210.3k $106.5k $106.5k 0.00% Unchanged
44 Financial Gravity Companies, Inc. 0.01% of their portfolio Lakeway, TX 8,1038.1k $84.0k $84.0k 0.01% First filing
45 MRP Capital Investments, LLC 0.06% of their portfolio ALPHARETTA, GA 8,0008.0k $83.0k $83.0k 0.06% Unchanged
46 Basepoint Wealth LLC 0.04% of their portfolio CEDAR RAPIDS, IA 6,1366.1k $63.6k $63.6k 0.04% Reduced -5.8k -5,764
47 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 5,0005.0k $51.9k $51.9k 0.00% New
48 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 3,6253.6k $37.6k $37.6k 0.00% Unchanged
49 GILL CAPITAL PARTNERS, LLC 0.01% of their portfolio DENVER, CO 2,5512.6k $26.5k $26.5k 0.01% Unchanged
50 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 1,8841.9k $19.5k $19.5k 0.00% New
51 BAYBAN 0.00% of their portfolio Bayport, MN 565565 $5.9k $5.9k 0.00% Unchanged
52 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 470470 $4.9k $4.9k 0.00% Unchanged
53 Bullock Wealth Management Group 0.00% of their portfolio BLOOMINGTON, IN 117117 $1.2k $1.2k 0.00% First filing
54 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 11 $10 $10 0.00% New