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First Trust Short Duration Managed Municipal ETF
FSMB

130 hedge funds and large institutions have $379M invested in First Trust Short Duration Managed Municipal ETF in 2025 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 49 increasing their positions, 38 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

29% more repeat investments, than reductions

Existing positions increased: 49 | Existing positions reduced: 38

5% more capital invested

Capital invested by funds: $361M → $379M (+$17.5M)

0.85% more ownership

Funds ownership: 81.17% → 82.02% (+0.85%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 13

1% less funds holding

Funds holding: 131 → 130 (-1)

Holders
130
Holders Change
-1
Holders Change %
-0.76%
% of All Funds
1.71%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
13
Increased
49
Reduced
38
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$11.2M
2
LPL Financial
LPL Financial
California
+$2.09M
3
Osaic Holdings
Osaic Holdings
Arizona
+$1.98M
4
JP Morgan Chase
JP Morgan Chase
New York
+$1.55M
5
AF
Allworth Financial
California
+$1.53M

Top Sellers

Rank Fund Capital Flow
1
PGFC
Peapack-Gladstone Financial Corp
New Jersey
-$3.59M
2
MML Investors Services
MML Investors Services
Massachusetts
-$1.5M
3
KAS
Kestra Advisory Services
Texas
-$1.33M
4
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$1.29M
5
HW
Hedeker Wealth
Illinois
-$864K
Name Holding Trade Value Shares
Change 		Change in
Stake
BCI
26
Brinker Capital Investments
Pennsylvania
$2.65M +$5.11K +258 +0.2%
ARG
27
Advisory Resource Group
Oklahoma
$2.49M +$103K +5,189 +4%
Envestnet Portfolio Solutions
28
Envestnet Portfolio Solutions
Illinois
$2.37M +$12K +604 +0.5%
SA
29
Sanctuary Advisors
Indiana
$2.35M +$633K +31,963 +37%
SFS
30
Sowell Financial Services
Arkansas
$2.33M +$8.85K +447 +0.4%
SI
31
Stephens Inc
Arkansas
$2.32M – – –
IA
32
IFP Advisors
Florida
$2.03M +$125K +6,299 +7%
KAS
33
Kestra Advisory Services
Texas
$1.93M -$1.33M -67,254 -41%
VBFG
34
Vishria Bird Financial Group
Tennessee
$1.79M -$12.3K -620 -0.7%
Cambridge Investment Research Advisors
35
Cambridge Investment Research Advisors
Iowa
$1.78M +$1.23M +62,051 +226%
Commonwealth Equity Services
36
Commonwealth Equity Services
Massachusetts
$1.73M -$64.8K -3,271 -4%
Comerica Bank
37
Comerica Bank
Texas
$1.71M +$14.7K +740 +0.9%
IIL
38
Insight Inv LLC
California
$1.6M -$243K -12,250 -13%
Truist Financial
39
Truist Financial
North Carolina
$1.51M -$168K -8,501 -10%
SG
40
StoneX Group
New York
$1.5M +$264K +13,349 +21%
MA
41
Mutual Advisors
Nebraska
$1.48M +$3.4K +172 +0.2%
GPW
42
Genesis Private Wealth
Virginia
$1.18M +$63.5K +3,205 +6%
FAIM
43
Financial Advocates Investment Management
Washington
$1.18M -$13.9K -701 -1%
EH
44
Equitable Holdings
New York
$1.16M +$308K +15,581 +37%
PVI
45
Pine Valley Investments
New Jersey
$1.1M – – –
DAS
46
Dynamic Advisor Solutions
Arizona
$1.02M +$70.8K +3,578 +7%
AWM
47
Avaii Wealth Management
Wisconsin
$1.01M +$179K +9,037 +22%
FPWM
48
FSB Premier Wealth Management
Iowa
$997K -$81.4K -4,111 -8%
OAM
49
Occidental Asset Management
California
$906K -$19.8K -1,000 -2%
RA
50
RFG Advisory
Alabama
$904K +$69.7K +3,519 +8%
1
2
3 4 5

FSMB Hedge Fund Activity: Q2 2025 in Review

130 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in First Trust Short Duration Managed Municipal ETF (FSMB) for Q2 2025, worth a combined $379M — up 4.9% from $361M a quarter earlier.

Fund positioning in FSMB was balanced in Q2 2025: 13 funds opened new positions, 13 closed out, 49 added to existing stakes and 38 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $11.2M. The largest seller was Peapack-Gladstone Financial Corp, exiting entirely with an estimated $3.59M sold.

  • 130 institutional investors held First Trust Short Duration Managed Municipal ETF (FSMB) as of Q2 2025, down from 131 in Q1 2025.
  • Funds reported $379M of First Trust Short Duration Managed Municipal ETF stock for Q2 2025, up 4.9% quarter-over-quarter.
  • 13 funds opened new First Trust Short Duration Managed Municipal ETF positions in Q2 2025 and 13 closed out, a net change of 0 holders.
  • The largest First Trust Short Duration Managed Municipal ETF buyer in Q2 2025 was Morgan Stanley, an estimated $11.2M added.
  • The largest First Trust Short Duration Managed Municipal ETF seller in Q2 2025 was Peapack-Gladstone Financial Corp, an estimated $3.59M sold.

Based on aggregated 13F filings for Q2 2025.