First Trust Short Duration Managed Municipal ETF
FSMB
140 hedge funds and large institutions have $417M invested in First Trust Short Duration Managed Municipal ETF in 2025 Q4 according to their latest regulatory filings, with 25 funds opening new positions, 55 increasing their positions, 34 reducing their positions, and 13 closing their positions.
200% more funds holding in top 10
Funds holding in top 10: 1 → 3 (+2)
92% more first-time investments, than exits
New positions opened: 25 | Existing positions closed: 13
62% more repeat investments, than reductions
Existing positions increased: 55 | Existing positions reduced: 34
13% more capital invested
Capital invested by funds: $370M → $417M (+$47M)
9% more funds holding
Funds holding: 129 → 140 (+11)
1.17% more ownership
Funds ownership: 81.16% → 82.33% (+1.2%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TFP
TrueWealth Financial Partners
Bellevue,
Washington
|
+$4.05M |
| 2 |
MOS
MGO One Seven
Beachwood,
Ohio
|
+$1.77M |
| 3 |
RWB
RMR Wealth Builders
Montclair,
New Jersey
|
+$1.59M |
| 4 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
+$1.53M |
| 5 |
Rockefeller Capital Management
New York
|
+$1.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ARG
Advisory Resource Group
Tulsa,
Oklahoma
|
-$2.56M |
| 2 |
VWA
Visionary Wealth Advisors
O'fallon,
Illinois
|
-$1.37M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$1.11M |
| 4 |
SFS
Sowell Financial Services
North Little Rock,
Arkansas
|
-$770K |
| 5 |
CGH
Crossmark Global Holdings
Houston,
Texas
|
-$715K |
FSMB Hedge Fund Activity: Q4 2025 in Review
140 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in First Trust Short Duration Managed Municipal ETF (FSMB) for Q4 2025, worth a combined $417M — up 13% from $370M a quarter earlier.
Buyers outnumbered sellers: 25 funds opened new FSMB positions and 13 closed out — a net gain of 12 holders — while 55 added to existing stakes and 34 trimmed.
The largest buyer was TrueWealth Financial Partners, opening a new position worth an estimated $4.05M. The largest seller was Advisory Resource Group, exiting entirely with an estimated $2.56M sold.
- 140 institutional investors held First Trust Short Duration Managed Municipal ETF (FSMB) as of Q4 2025, up from 129 in Q3 2025.
- Funds reported $417M of First Trust Short Duration Managed Municipal ETF stock for Q4 2025, up 13% quarter-over-quarter.
- 25 funds opened new First Trust Short Duration Managed Municipal ETF positions in Q4 2025 and 13 closed out, a net change of +12 holders.
- The largest First Trust Short Duration Managed Municipal ETF buyer in Q4 2025 was TrueWealth Financial Partners, an estimated $4.05M added.
- The largest First Trust Short Duration Managed Municipal ETF seller in Q4 2025 was Advisory Resource Group, an estimated $2.56M sold.
Based on aggregated 13F filings for Q4 2025.