First Trust Managed Municipal ETF
283 hedge funds and large institutions have $1.43B invested in First Trust Managed Municipal ETF in 2025 Q3 according to their latest regulatory filings, with 20 funds opening new positions, 106 increasing their positions, 119 reducing their positions, and 28 closing their positions.
3% more capital inflows, than outflows
Capital inflows: $104M | Capital outflows: $101M
0.65% less ownership
Funds ownership: 76.02% → 75.37% (-0.65%)
5% less funds holding
Funds holding: 299 → 283 (-16)
11% less repeat investments, than reductions
Existing positions increased: 106 | Existing positions reduced: 119
29% less first-time investments, than exits
New positions opened: 20 | Existing positions closed: 28
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Osaic Holdings
Scottsdale,
Arizona
|
+$20.2M |
| 2 |
MMA
Miracle Mile Advisors
Los Angeles,
California
|
+$17.9M |
| 3 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$7.12M |
| 4 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
+$5.69M |
| 5 |
SF
Summit Financial
Parsippany,
New Jersey
|
+$4.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$15M |
| 2 |
VCP
Verus Capital Partners
Scottsdale,
Arizona
|
-$5.02M |
| 3 |
Morgan Stanley
New York
|
-$4.67M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$3.92M |
| 5 |
Stifel Financial
St. Louis,
Missouri
|
-$3.85M |
FMB Hedge Fund Activity: Q3 2025 in Review
283 of the 7,647 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q3 2025, worth a combined $1.43B — down 0.82% from $1.44B a quarter earlier.
Sellers outnumbered buyers: 28 funds closed out of FMB and 20 opened new positions — a net loss of 8 holders — while 119 trimmed existing stakes and 106 added.
The largest buyer was Osaic Holdings, adding an estimated $20.2M. The largest seller was Jane Street, cutting an estimated $15M.
- 283 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q3 2025, down from 299 in Q2 2025.
- Funds reported $1.43B of First Trust Managed Municipal ETF stock for Q3 2025, down 0.82% quarter-over-quarter.
- 20 funds opened new First Trust Managed Municipal ETF positions in Q3 2025 and 28 closed out, a net change of -8 holders.
- The largest First Trust Managed Municipal ETF buyer in Q3 2025 was Osaic Holdings, an estimated $20.2M added.
- The largest First Trust Managed Municipal ETF seller in Q3 2025 was Jane Street, an estimated $15M sold.
Based on aggregated 13F filings for Q3 2025.