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First Trust Short Duration Managed Municipal ETF
FSMB

129 hedge funds and large institutions have $370M invested in First Trust Short Duration Managed Municipal ETF in 2025 Q3 according to their latest regulatory filings, with 12 funds opening new positions, 55 increasing their positions, 33 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

67% more repeat investments, than reductions

Existing positions increased: 55 | Existing positions reduced: 33

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: 12 | Existing positions closed: 12

1% less funds holding

Funds holding: 130 → 129 (-1)

0.86% less ownership

Funds ownership: 82.02% → 81.16% (-0.86%)

2% less capital invested

Capital invested by funds: $379M → $370M (-$9.09M)

Holders
129
Holders Change
-1
Holders Change %
-0.77%
% of All Funds
1.69%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
12
Increased
55
Reduced
33
Closed
12
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Corient Private Wealth
Corient Private Wealth
Florida
+$23.8M
2
Morgan Stanley
Morgan Stanley
New York
+$4.85M
3
Wells Fargo
Wells Fargo
California
+$2.71M
4
GWP
Gateway Wealth Partners
Wisconsin
+$2.09M
5
LPL Financial
LPL Financial
California
+$1.96M

Top Sellers

1
Raymond James Financial
Raymond James Financial
Florida
-$26.5M
2
VBFG
Vishria Bird Financial Group
Tennessee
-$1.79M
3
UBS Group
UBS Group
Switzerland
-$1.61M
4
VWA
Visionary Wealth Advisors
Illinois
-$1.51M
5
FAIM
Financial Advocates Investment Management
Washington
-$1.18M
Name Holding Trade Value Shares
Change 		Change in
Stake
BCI
26
Brinker Capital Investments
Pennsylvania
$2.47M -$202K -10,091 -8%
Commonwealth Equity Services
27
Commonwealth Equity Services
Massachusetts
$2.47M +$717K +35,846 +41%
SA
28
Sanctuary Advisors
Indiana
$2.37M – – –
SFS
29
Sowell Financial Services
Arkansas
$2.36M +$10.3K +514 +0.4%
SI
30
Stephens Inc
Arkansas
$2.34M – – –
Envestnet Portfolio Solutions
31
Envestnet Portfolio Solutions
Illinois
$2.31M -$80.4K -4,016 -3%
Cambridge Investment Research Advisors
32
Cambridge Investment Research Advisors
Iowa
$2.12M +$320K +15,985 +18%
IA
33
IFP Advisors
Florida
$2.12M +$63.1K +3,153 +3%
GWP
34
Gateway Wealth Partners
Wisconsin
$2.1M +$2.09M +104,569 New
KAS
35
Kestra Advisory Services
Texas
$1.86M -$86.7K -4,334 -4%
Comerica Bank
36
Comerica Bank
Texas
$1.84M +$113K +5,655 +7%
IIL
37
Insight Inv LLC
California
$1.74M +$129K +6,425 +8%
EH
38
Equitable Holdings
New York
$1.57M +$404K +20,205 +35%
DAS
39
Dynamic Advisor Solutions
Arizona
$1.55M +$515K +25,732 +50%
SG
40
StoneX Group
New York
$1.55M +$32.1K +1,603 +2%
MYIA
41
Mount Yale Investment Advisors
Colorado
$1.44M +$1.43M +71,546 New
VAS
42
Vestmark Advisory Solutions
Massachusetts
$1.44M +$1.43M +71,546 New
MA
43
Mutual Advisors
Nebraska
$1.4M -$88.3K -4,410 -6%
VWA
44
Visionary Wealth Advisors
Illinois
$1.37M -$1.51M -75,500 -53%
GPW
45
Genesis Private Wealth
Virginia
$1.32M +$124K +6,209 +10%
RA
46
RFG Advisory
Alabama
$1.17M +$255K +12,718 +28%
SF
47
Summit Financial
New Jersey
$1.15M +$1.15M +57,250 New
HPC
48
Hobart Private Capital
North Carolina
$1.14M +$393K +19,636 +53%
Citadel Advisors
49
Citadel Advisors
Florida
$1.11M +$1.11M +55,398 New
PVI
50
Pine Valley Investments
New Jersey
$1.11M – – –
1
2
3 4 5

FSMB Hedge Fund Activity: Q3 2025 in Review

129 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in First Trust Short Duration Managed Municipal ETF (FSMB) for Q3 2025, worth a combined $370M — down 2.4% from $379M a quarter earlier.

Fund positioning in FSMB was balanced in Q3 2025: 12 funds opened new positions, 12 closed out, 55 added to existing stakes and 33 trimmed.

The largest buyer was Corient Private Wealth, opening a new position worth an estimated $23.8M. The largest seller was Raymond James Financial, cutting an estimated $26.5M.

  • 129 institutional investors held First Trust Short Duration Managed Municipal ETF (FSMB) as of Q3 2025, down from 130 in Q2 2025.
  • Funds reported $370M of First Trust Short Duration Managed Municipal ETF stock for Q3 2025, down 2.4% quarter-over-quarter.
  • 12 funds opened new First Trust Short Duration Managed Municipal ETF positions in Q3 2025 and 12 closed out, a net change of 0 holders.
  • The largest First Trust Short Duration Managed Municipal ETF buyer in Q3 2025 was Corient Private Wealth, an estimated $23.8M added.
  • The largest First Trust Short Duration Managed Municipal ETF seller in Q3 2025 was Raymond James Financial, an estimated $26.5M sold.

Based on aggregated 13F filings for Q3 2025.