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First Trust Short Duration Managed Municipal ETF
FSMB

139 hedge funds and large institutions have $462M invested in First Trust Short Duration Managed Municipal ETF in 2026 Q1 according to their latest regulatory filings, with 15 funds opening new positions, 67 increasing their positions, 38 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

76% more repeat investments, than reductions

Existing positions increased: 67 | Existing positions reduced: 38

15% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 13

5% more capital invested

Capital invested by funds: $441M → $462M (+$21.1M)

1% less funds holding

Funds holding: 140 → 139 (-1)

7.72% less ownership

Funds ownership: 87.18% → 79.46% (-7.7%)

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

Holders
139
Holders Change
-1
Holders Change %
-0.71%
% of All Funds
1.71%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.02%
New
15
Increased
67
Reduced
38
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
LPL Financial
LPL Financial
California
+$17M
2
Morgan Stanley
Morgan Stanley
New York
+$14.8M
3
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$6.79M
4
Goldman Sachs
Goldman Sachs
New York
+$3.98M
5
FF
Francis Financial
+$3.95M

Top Sellers

1
Corient Private Wealth
Corient Private Wealth
Florida
-$28.1M
2
TFP
TrueWealth Financial Partners
Washington
-$4.04M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$3.15M
4
Osaic Holdings
Osaic Holdings
Arizona
-$1.91M
5
SG
StoneX Group
New York
-$1.27M
Name Holding Trade Value Shares
Change 		Change in
Stake
JP Morgan Chase
26
JP Morgan Chase
New York
$4.19M -$77K -3,825 -2%
Osaic Holdings
27
Osaic Holdings
Arizona
$4.08M -$1.91M -95,013 -32%
Goldman Sachs
28
Goldman Sachs
New York
$3.95M +$3.98M +197,780 New
Stifel Financial
29
Stifel Financial
Missouri
$3.84M -$616K -30,635 -14%
MML Investors Services
30
MML Investors Services
Massachusetts
$2.74M -$193K -9,605 -7%
IA
31
IFP Advisors
Florida
$2.74M +$456K +22,645 +20%
RA
32
RFG Advisory
Alabama
$2.39M +$200K +9,952 +9%
KAS
33
Kestra Advisory Services
Texas
$2.22M +$368K +18,277 +20%
BCI
34
Brinker Capital Investments
Pennsylvania
$2.18M +$10.6K +528 +0.5%
SA
35
Sanctuary Advisors
Indiana
$2.17M -$273K -13,572 -11%
DAS
36
Dynamic Advisor Solutions
Arizona
$2.07M +$420K +20,883 +25%
SI
37
Stephens Inc
Arkansas
$2.04M -$288K -14,329 -12%
Envestnet Portfolio Solutions
38
Envestnet Portfolio Solutions
Illinois
$1.96M -$287K -14,253 -13%
MOS
39
MGO One Seven
Ohio
$1.89M +$127K +6,292 +7%
VAS
40
Vestmark Advisory Solutions
Massachusetts
$1.75M +$391K +19,453 +28%
MYIA
41
Mount Yale Investment Advisors
Colorado
$1.75M +$391K +19,453 +28%
Fifth Third Bancorp
42
Fifth Third Bancorp
Ohio
$1.73M +$1.75M +86,917 New
IIL
43
Insight Inv LLC
California
$1.73M -$28.7K -1,425 -2%
IAA
44
Independent Advisor Alliance
North Carolina
$1.72M +$1.73M +86,209 New
EH
45
Equitable Holdings
New York
$1.62M -$8.03K -399 -0.5%
GPW
46
Genesis Private Wealth
Virginia
$1.45M +$33.8K +1,679 +2%
ACMA
47
Arbor Capital Management (Alaska)
Alaska
$1.39M +$601K +29,869 +75%
MA
48
Mutual Advisors
Nebraska
$1.38M +$2.37K +118 +0.2%
HPC
49
Hobart Private Capital
North Carolina
$1.33M +$205K +10,205 +18%
SFS
50
Sowell Financial Services
Arkansas
$1.27M -$314K -15,624 -20%
1
2
3 4 5

FSMB Hedge Fund Activity: Q1 2026 in Review

139 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in First Trust Short Duration Managed Municipal ETF (FSMB) for Q1 2026, worth a combined $462M — up 4.8% from $441M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new FSMB positions and 13 closed out — a net gain of 2 holders — while 67 added to existing stakes and 38 trimmed.

The largest buyer was LPL Financial, adding an estimated $17M. The largest seller was Corient Private Wealth, cutting an estimated $28.1M.

  • 139 institutional investors held First Trust Short Duration Managed Municipal ETF (FSMB) as of Q1 2026, down from 140 in Q4 2025.
  • Funds reported $462M of First Trust Short Duration Managed Municipal ETF stock for Q1 2026, up 4.8% quarter-over-quarter.
  • 15 funds opened new First Trust Short Duration Managed Municipal ETF positions in Q1 2026 and 13 closed out, a net change of +2 holders.
  • The largest First Trust Short Duration Managed Municipal ETF buyer in Q1 2026 was LPL Financial, an estimated $17M added.
  • The largest First Trust Short Duration Managed Municipal ETF seller in Q1 2026 was Corient Private Wealth, an estimated $28.1M sold.

Based on aggregated 13F filings for Q1 2026.