A broker-dealer's subadvised fund family led the inflows pack again by one proportional measure last month, according to the latest data from the folks at a publicly traded investment research firm.

This article draws on Morningstar Direct data on June 2025 mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like CITs and separate accounts, are also not included.)

Edward Jones' Bridge Builder kept the lead last quarter, thanks to an estimated $275 million per fund in net Q2 2025 inflows, down by $62 million quarter-over-quarter from the first quarter of 2025 but up by $283 million year-over-year from Q2 2024. Other big Q2 2025 inflows winners included:

Eagle Capital Management, $274 million per fund (up by $173 million Q/Q, up by $178 million Y/Y);

Neos, $271 million per fund (up by $126 million Q/Q, up by $85 million Y/Y);

Thrivent, $160 million per fund (up by $183 million Q/Q, up by $161 million Y/Y); and

Life + Liberty Investments, $155 million per fund (up by $188 million Q/Q, up by $183 million Y/Y).

Neos took the lead last month, thanks to an estimated $141 million per fund in net June 2025 inflows. Other big inflows winners included: Bridge Builder, $87 million per fund; and Axonic, $63 million per fund.

On the flip side, Primecap took the outflows lead last quarter, thanks to an estimated $498 million per fund in net Q2 2025 outflows, up by $116 million Q/Q from Q1 2025 and up by $106 million Y/Y from Q2 2024. Other big Q2 2025 outflows sufferers included:

Edgewood, $405 million per fund (down by $591 million Q/Q, up by $195 million Y/Y);

Bessemer's Old Westbury, $98 million (a $109-million net flows drop Q/Q, up by $25 million Y/Y;

FMI, $95 million per fund (up by $81 million Q/Q, up by $89 million Y/Y); and

Mercer, $92 million per fund (up by $37 million Q/Q, up by $84 million Y/Y).

The whole long-term mutual fund and ETF industry brought in $1.526 million per fund in Q2 2025 inflows. That's down by $1.727 million Q/Q, and down by $608 million Y/Y.

The industry brought in $1.155 million per fund in net June 2025 inflows. That's down by $204 million month-over-month from May 2025 but up by $133 million Y/Y from June 2024. 

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