First Trust Short Duration Managed Municipal ETF
FSMB
140 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, 68 increasing their positions, 38 reducing their positions, and 13 closing their positions.
79% more repeat investments, than reductions
Existing positions increased: 68 | Existing positions reduced: 38
15% more first-time investments, than exits
New positions opened: 15 | Existing positions closed: 13
11% more capital invested
Capital invested by funds: $417M → $462M (+$45.7M)
0% more funds holding
Funds holding: 140 → 140 (0)
2.85% less ownership
Funds ownership: 82.33% → 79.48% (-2.9%)
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
+$17M |
| 2 |
Morgan Stanley
New York
|
+$14.8M |
| 3 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$6.79M |
| 4 |
Goldman Sachs
New York
|
+$3.98M |
| 5 |
FF
Francis Financial
|
+$3.95M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TFP
TrueWealth Financial Partners
Bellevue,
Washington
|
-$4.04M |
| 2 |
Corient Private Wealth
Miami,
Florida
|
-$3.47M |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$3.15M |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
-$1.91M |
| 5 |
SG
StoneX Group
New York
|
-$1.27M |
FSMB Hedge Fund Activity: Q1 2026 in Review
140 of the 8,208 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 11% from $417M a quarter earlier.
Buyers outnumbered sellers: 15 funds opened new FSMB positions and 13 closed out — a net gain of 2 holders — while 68 added to existing stakes and 38 trimmed.
The largest buyer was LPL Financial, adding an estimated $17M. The largest seller was TrueWealth Financial Partners, exiting entirely with an estimated $4.04M sold.
- 140 institutional investors held First Trust Short Duration Managed Municipal ETF (FSMB) as of Q1 2026, unchanged from Q4 2025.
- Funds reported $462M of First Trust Short Duration Managed Municipal ETF stock for Q1 2026, up 11% 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 TrueWealth Financial Partners, an estimated $4.04M sold.
Based on aggregated 13F filings for Q1 2026.