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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
IWA
76
Inspirion Wealth Advisors
Illinois
$610K -$176K -8,725 -22%
Wealth Enhancement Advisory Services
77
Wealth Enhancement Advisory Services
Minnesota
$609K -$35.6K -1,768 -5%
SPC
78
Sigma Planning Corp
Michigan
$607K -$22.6K -1,124 -4%
FVWA
79
Foster Victor Wealth Advisors
South Carolina
$549K +$5.57K +277 +1%
SWP
80
Summit Wealth Partners
Florida
$467K – – –
OMC
81
Old Mission Capital
Illinois
$462K +$466K +23,164 New
WIA
82
World Investment Advisors
California
$447K – – –
OPOWM
83
One Plus One Wealth Management
Florida
$422K – – –
SCA
84
Snowden Capital Advisors
New York
$419K +$3.66K +182 +0.9%
CIAS
85
Capital Investment Advisory Services
North Carolina
$414K +$20.4K +1,014 +5%
PFGIA
86
Patriot Financial Group Insurance Agency
Massachusetts
$410K +$207K +10,278 +100%
WWM
87
Western Wealth Management
Colorado
$409K +$412K +20,500 New
HI
88
Harbour Investments
Wisconsin
$400K +$249K +12,369 +161%
UWP
89
Uniting Wealth Partners
Kansas
$352K +$355K +17,626 New
Jane Street
90
Jane Street
New York
$342K -$471K -23,407 -58%
NG
91
Novem Group
New York
$338K +$12.2K +608 +4%
WIP
92
WealthCare Investment Partners
Rhode Island
$331K -$4.93K -245 -1%
KWS
93
Keystone Wealth Services
California
$329K – – –
OIA
94
OneDigital Investment Advisors
Kansas
$327K +$329K +16,372 New
FF
95
Foronjy Financial
California
$315K -$5.88K -292 -2%
AWM
96
AE Wealth Management
Kansas
$307K -$61.3K -3,045 -17%
IAIM
97
International Assets Investment Management
Florida
$300K +$201 +10 +0.1%
FFA
98
Farther Finance Advisors
California
$290K +$21K +1,042 +8%
SAM
99
Strategy Asset Managers
California
$286K – – –
P
100
&Partners
Tennessee
$285K – – –
2 3
4
5 6

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.