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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
SPIA
51
Steward Partners Investment Advisory
New York
$1.24M +$1.22M +60,424 +4,028%
PVI
52
Pine Valley Investments
New Jersey
$1.2M +$101K +5,000 +9%
AWM
53
Avaii Wealth Management
Wisconsin
$1.1M -$3.26K -162 -0.3%
SFS
54
Security Financial Services
Indiana
$1.09M +$3.84K +191 +0.3%
CWM
55
Castle Wealth Management
Florida
$1.04M +$518K +25,739 +98%
SF
56
Summit Financial
New Jersey
$1.01M -$16.8K -837 -2%
SWP
57
Stratos Wealth Partners
Ohio
$1M +$168K +8,328 +20%
FPWM
58
FSB Premier Wealth Management
Iowa
$998K +$22.8K +1,132 +2%
PFS
59
Prospera Financial Services
Texas
$959K +$110K +5,468 +13%
Truist Financial
60
Truist Financial
North Carolina
$923K -$91.1K -4,528 -9%
PAG
61
Private Advisor Group
New Jersey
$902K +$27.4K +1,360 +3%
OAM
62
Occidental Asset Management
California
$880K -$38.7K -1,925 -4%
JIR
63
James Investment Research
Ohio
$856K -$14.2K -706 -2%
WA
64
Waddell & Associates
Tennessee
$792K +$294K +14,623 +58%
CIA
65
Concurrent Investment Advisors
Florida
$789K – – –
DADC
66
D.A. Davidson & Co
Montana
$783K -$32.2K -1,600 -4%
SWTS
67
Stonehaven Wealth & Tax Solutions
Wisconsin
$704K +$223K +11,099 +46%
KPWS
68
Kestra Private Wealth Services
Texas
$674K +$413K +20,514 +155%
TCOO
69
Trust Company of Oklahoma
Oklahoma
$666K +$6.04K +300 +0.9%
NFG
70
Norris Financial Group
South Carolina
$646K +$129K +6,396 +25%
KFAS
71
Keating Financial Advisory Services
Kansas
$638K +$77K +3,826 +14%
DWP
72
Daymark Wealth Partners
Ohio
$629K +$634K +31,498 New
PWP
73
Principle Wealth Partners
Connecticut
$629K +$150K +7,453 +31%
EIA
74
Eldridge Investment Advisors
New Hampshire
$629K – – –
CFG
75
Capital Financial Group
Colorado
$617K +$10.1K +500 +2%
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.