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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
WIA
76
World Investment Advisors
California
$469K -$2.46K -124 -0.5%
SWP
77
Summit Wealth Partners
Florida
$456K – – –
FF
78
Foronjy Financial
California
$404K +$402K +20,308 New
CIAS
79
Capital Investment Advisory Services
North Carolina
$383K +$39.8K +2,011 +12%
CWM
80
Castle Wealth Management
Florida
$363K +$129K +6,500 +55%
TWM
81
TCFG Wealth Management
California
$356K -$1.43K -72 -0.4%
AWM
82
AE Wealth Management
Kansas
$329K +$91.9K +4,640 +39%
KWS
83
Keystone Wealth Services
California
$328K +$99K +5,000 +43%
PWP
84
Principle Wealth Partners
Connecticut
$326K +$376 +19 +0.1%
ATPW
85
Ashton Thomas Private Wealth
Arizona
$305K – – –
CCA
86
Clearwater Capital Advisors
Illinois
$299K – – –
RWA
87
Rooted Wealth Advisors
Illinois
$293K +$891 +45 +0.3%
AAS
88
Avantax Advisory Services
Texas
$272K -$71.2K -3,594 -21%
ACI
89
Alpha Cubed Investments
California
$270K – – –
NG
90
Novem Group
New York
$259K – – –
GSWM
91
Golden State Wealth Management
California
$250K -$92.8K -4,685 -27%
CCM
92
Chilton Capital Management
Texas
$248K – – –
JSW
93
Journey Strategic Wealth
New Jersey
$248K -$61.4K -3,101 -20%
Mariner
94
Mariner
Kansas
$247K +$46.3K +2,337 +23%
SCA
95
Snowden Capital Advisors
New York
$246K -$90.3K -4,560 -27%
NGA
96
Naples Global Advisors
Florida
$239K – – –
KPWS
97
Kestra Private Wealth Services
Texas
$233K -$65.8K -3,326 -22%
HH
98
Hilltop Holdings
Texas
$226K +$225K +11,342 New
HW
99
Hedeker Wealth
Illinois
$222K -$864K -43,648 -80%
CAL
100
Capital Analysts LLC
Pennsylvania
$218K – – –
2 3
4
5 6

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.