First Trust Short Duration Managed Municipal ETF
FSMB
139 hedge funds and large institutions have $523M invested in First Trust Short Duration Managed Municipal ETF in 2026 Q2 according to their latest regulatory filings, with 17 funds opening new positions, 67 increasing their positions, 30 reducing their positions, and 16 closing their positions.
123% more repeat investments, than reductions
Existing positions increased: 67 | Existing positions reduced: 30
13% more capital invested
Capital invested by funds: $462M → $523M (+$60.8M)
4.47% more ownership
Funds ownership: 79.46% → 83.93% (+4.5%)
6% more first-time investments, than exits
New positions opened: 17 | Existing positions closed: 16
0% more funds holding
Funds holding: 139 → 139 (0)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WA
Waverly Advisors
Birmingham,
Alabama
|
+$14M |
| 2 |
XF
XML Financial
Bethesda,
Maryland
|
+$10.4M |
| 3 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
+$9.15M |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
+$4.85M |
| 5 |
LPL Financial
San Diego,
California
|
+$4.58M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Corient Private Wealth
Miami,
Florida
|
-$3.91M |
| 2 |
Goldman Sachs
New York
|
-$3.71M |
| 3 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$1.72M |
| 4 |
GWP
Gateway Wealth Partners
Appleton,
Wisconsin
|
-$1.14M |
| 5 |
SFS
Security Financial Services
Fort Wayne,
Indiana
|
-$1.09M |
FSMB Hedge Fund Activity: Q2 2026 in Review
139 of the 8,295 institutional investors tracked by Wall St. Rank reported a position in First Trust Short Duration Managed Municipal ETF (FSMB) for Q2 2026, worth a combined $523M — up 13% from $462M a quarter earlier.
Buyers outnumbered sellers: 17 funds opened new FSMB positions and 16 closed out — a net gain of 1 holder — while 67 added to existing stakes and 30 trimmed.
The largest buyer was Waverly Advisors, opening a new position worth an estimated $14M. The largest seller was Corient Private Wealth, cutting an estimated $3.91M.
- 139 institutional investors held First Trust Short Duration Managed Municipal ETF (FSMB) as of Q2 2026, unchanged from Q1 2026.
- Funds reported $523M of First Trust Short Duration Managed Municipal ETF stock for Q2 2026, up 13% quarter-over-quarter.
- 17 funds opened new First Trust Short Duration Managed Municipal ETF positions in Q2 2026 and 16 closed out, a net change of +1 holder.
- The largest First Trust Short Duration Managed Municipal ETF buyer in Q2 2026 was Waverly Advisors, an estimated $14M added.
- The largest First Trust Short Duration Managed Municipal ETF seller in Q2 2026 was Corient Private Wealth, an estimated $3.91M sold.
Based on aggregated 13F filings for Q2 2026.