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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
HW
101
Hedeker Wealth
Illinois
$278K +$6.94K +345 +3%
CAL
102
Capital Analysts LLC
Pennsylvania
$268K +$49.9K +2,482 +23%
PCIA
103
Prime Capital Investment Advisors
Kansas
$255K +$1.57K +78 +0.6%
RWA
104
Redhawk Wealth Advisors
Minnesota
$254K +$51K +2,537 +25%
CFS
105
Cannon Financial Strategists
Georgia
$254K +$256K +12,706 New
RWA
106
Rooted Wealth Advisors
Illinois
$252K -$36.1K -1,792 -12%
CCM
107
Chilton Capital Management
Texas
$249K – – –
CAC
108
Certified Advisory Corp
Florida
$248K – – –
BCM
109
Brookstone Capital Management
Illinois
$243K +$245K +12,159 New
NGA
110
Naples Global Advisors
Florida
$240K – – –
CWA
111
Crux Wealth Advisors
California
$232K +$503 +25 +0.2%
FEG
112
Financial Enhancement Group
Indiana
$230K – – –
Janney Montgomery Scott
113
Janney Montgomery Scott
Pennsylvania
$228K +$503 +25 +0.2%
CWP
114
Core Wealth Partners
California
$224K -$173K -8,601 -43%
Mariner
115
Mariner
Kansas
$216K +$2.27K +113 +1%
AWA
116
Alta Wealth Advisors
Massachusetts
$213K +$704 +35 +0.3%
Susquehanna International Group
117
Susquehanna International Group
Pennsylvania
$213K +$215K +10,661 New
EC
118
EdgeRock Capital
Colorado
$211K +$213K +10,592 New
CAPTRUST Financial Advisors
119
CAPTRUST Financial Advisors
North Carolina
$204K +$1.61K +80 +0.8%
LI
120
LVZ Inc
Michigan
$201K – – –
CA
121
CoreCap Advisors
Michigan
$182K +$47.9K +2,383 +35%
ATPW
122
Ashton Thomas Private Wealth
Arizona
$157K +$158K +7,846 New
PB
123
Pinnacle Bancorp
Nebraska
$148K – – –
NS
124
NBC Securities
Alabama
$117K +$926 +46 +0.8%
FRA
125
Front Row Advisors
California
$99.8K – – –
3 4
5
6 7

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.