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First Trust Managed Municipal ETF
FMB

296 hedge funds and large institutions have $1.52B invested in First Trust Managed Municipal ETF in 2026 Q1 according to their latest regulatory filings, with 20 funds opening new positions, 142 increasing their positions, 91 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

56% more repeat investments, than reductions

Existing positions increased: 142 | Existing positions reduced: 91

1% more capital invested

Capital invested by funds: $1.5B → $1.52B (+$22.5M)

0.44% more ownership

Funds ownership: 77.49% → 77.93% (+0.44%)

5% less first-time investments, than exits

New positions opened: 20 | Existing positions closed: 21

3% less funds holding

Funds holding: 306 → 296 (-10)

67% less funds holding in top 10

Funds holding in top 10: 3 → 1 (-2)

Holders
296
Holders Change
-10
Holders Change %
-3.27%
% of All Funds
3.64%
Holding in Top 10
1
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-66.67%
% of All Funds
0.01%
New
20
Increased
142
Reduced
91
Closed
21
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$20.3M
2
IAA
Independent Advisor Alliance
North Carolina
+$12M
3
Bank of America
Bank of America
North Carolina
+$11.4M
4
OIA
OneDigital Investment Advisors
Kansas
+$8.52M
5
FPAS
Focus Partners Advisor Solutions
Missouri
+$6.96M

Top Sellers

Rank Fund Capital Flow
1
MMA
Miracle Mile Advisors
California
-$46.7M
2
TFP
TrueWealth Financial Partners
Washington
-$12.7M
3
Jane Street
Jane Street
New York
-$5.56M
4
FFG
Frisch Financial Group
New York
-$3.92M
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$2.27M
Name Holding Trade Value Shares
Change 		Change in
Stake
AWA
226
Alta Wealth Advisors
Massachusetts
$305K -$4.63K -90 -1%
PMFA
227
Plante Moran Financial Advisors
Michigan
$300K – – –
PWS
228
Proactive Wealth Strategies
Georgia
$293K +$298K +5,791 New
FFA
229
Fi3 Financial Advisors
Indiana
$292K -$290K -5,636 -49%
CAG
230
Csenge Advisory Group
Florida
$290K -$143K -2,778 -33%
SWM
231
SeaCrest Wealth Management
New York
$289K -$10.3K -200 -3%
RIA
232
Regal Investment Advisors
Michigan
$278K -$4.73K -92 -2%
WAN
233
Wealth Advisors Northwest
Oregon
$275K +$279K +5,428 New
CWA
234
Crusonia Wealth Advisors
Colorado
$274K +$1.18K +23 +0.4%
ST
235
Smithfield Trust
Pennsylvania
$271K – – –
CA
236
CoreCap Advisors
Michigan
$268K +$37.5K +730 +16%
IWA
237
Icon Wealth Advisors
Texas
$267K +$2.42K +47 +0.9%
WAG
238
Wheelhouse Advisory Group
Missouri
$249K -$13.4K -261 -5%
OL
239
Owen LaRue
Kentucky
$248K +$2.26K +44 +0.9%
CG
240
CFO4Life Group
Texas
$248K +$617 +12 +0.2%
APFP
241
Action Point Financial Planning
Michigan
$244K +$248K +4,826 New
CCG
242
Catalina Capital Group
California
$241K +$1.28K +25 +0.5%
QFW
243
QTR Family Wealth
Florida
$238K +$1.13K +22 +0.5%
QCM
244
Quantinno Capital Management
New York
$237K +$241K +4,683 New
GPW
245
Gentry Private Wealth
Kansas
$236K +$3.44K +67 +1%
HAS
246
HBW Advisory Services
California
$230K -$87K -1,693 -27%
VA
247
Valmark Advisers
Ohio
$225K +$8.12K +158 +4%
AP
248
Advisortrust Partners
North Carolina
$225K – – –
GCA
249
Genesee Capital Advisors
New York
$222K +$1.34K +26 +0.6%
PWM
250
Purus Wealth Management
California
$218K -$8.17K -159 -4%
8 9
10
11 12

FMB Hedge Fund Activity: Q1 2026 in Review

296 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q1 2026, worth a combined $1.52B — up 1.5% from $1.5B a quarter earlier.

Sellers outnumbered buyers: 21 funds closed out of FMB and 20 opened new positions — a net loss of 1 holder — while 91 trimmed existing stakes and 142 added.

The largest buyer was Morgan Stanley, adding an estimated $20.3M. The largest seller was Miracle Mile Advisors, cutting an estimated $46.7M.

  • 296 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q1 2026, down from 306 in Q4 2025.
  • Funds reported $1.52B of First Trust Managed Municipal ETF stock for Q1 2026, up 1.5% quarter-over-quarter.
  • 20 funds opened new First Trust Managed Municipal ETF positions in Q1 2026 and 21 closed out, a net change of -1 holder.
  • The largest First Trust Managed Municipal ETF buyer in Q1 2026 was Morgan Stanley, an estimated $20.3M added.
  • The largest First Trust Managed Municipal ETF seller in Q1 2026 was Miracle Mile Advisors, an estimated $46.7M sold.

Based on aggregated 13F filings for Q1 2026.