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JPMorgan Ultra-Short Municipal Income ETF
JMST

491 hedge funds and large institutions have $2.67B invested in JPMorgan Ultra-Short Municipal Income ETF in 2025 Q1 according to their latest regulatory filings, with 65 funds opening new positions, 239 increasing their positions, 143 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more first-time investments, than exits

New positions opened: 65 | Existing positions closed: 26

67% more repeat investments, than reductions

Existing positions increased: 239 | Existing positions reduced: 143

17% more funds holding in top 10

Funds holding in top 10: 18 → 21 (+3)

14% more capital invested

Capital invested by funds: $2.35B → $2.67B (+$323M)

7% more funds holding

Funds holding: 459 → 491 (+32)

1.45% less ownership

Funds ownership: 76.74% → 75.29% (-1.4%)

Holders
491
Holders Change
+32
Holders Change %
+6.97%
% of All Funds
6.58%
Holding in Top 10
21
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+16.67%
% of All Funds
0.28%
New
65
Increased
239
Reduced
143
Closed
26
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$38M
2
AWE
Avidian Wealth Enterprises
Texas
+$27M
3
Wells Fargo
Wells Fargo
California
+$20.6M
4
LPL Financial
LPL Financial
California
+$19.4M
5
Jane Street
Jane Street
New York
+$15.8M

Top Sellers

1
TW
Transform Wealth
Colorado
-$10.4M
2
FT
Fiduciary Trust
Massachusetts
-$10.3M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$7.21M
4
CG
CFO4Life Group
Texas
-$6.77M
5
IAA
Independent Advisor Alliance
North Carolina
-$6.44M
Name Holding Trade Value Shares
Change 		Change in
Stake
YWS
276
Yarger Wealth Strategies
Ohio
$836K +$15.4K +303 +2%
IPW
277
Intergy Private Wealth
Colorado
$820K -$26.9K -530 -3%
MTWM
278
Masso Torrence Wealth Management
New Jersey
$818K +$12.6K +248 +2%
AC
279
Apella Capital
Connecticut
$818K +$8.03K +158 +1%
KWM
280
Kingsview Wealth Management
Oregon
$810K -$50K -983 -6%
EBWM
281
Eagle Bluffs Wealth Management
Missouri
$809K -$5.03K -99 -0.6%
WCFA
282
Walkner Condon Financial Advisors
Wisconsin
$808K +$77.8K +1,530 +11%
MSFS
283
Main Street Financial Solutions
Pennsylvania
$807K +$807K +15,880 New
ACG
284
Allen Capital Group
Nebraska
$807K -$659K -12,965 -45%
KCIC
285
Kuhn & Co Investment Counsel
Illinois
$799K +$160K +3,156 +25%
PCM
286
Presidio Capital Management
California
$780K +$372K +7,330 +91%
WA
287
Waverly Advisors
Alabama
$774K +$258K +5,082 +50%
SFG
288
Sage Financial Group
Pennsylvania
$765K +$107K +2,114 +16%
SIA
289
Soltis Investment Advisors
Utah
$764K +$113K +2,226 +17%
BFIM
290
Beese Fulmer Investment Management
Ohio
$760K +$305K +6,000 +67%
ICP
291
Impact Capital Partners
Colorado
$759K -$112K -2,205 -13%
BCP
292
Blue Chip Partners
Michigan
$755K +$755K +14,854 New
CWM
293
Collaborative Wealth Management
Florida
$755K +$20.7K +408 +3%
MP
294
McDonald Partners
Ohio
$742K – – –
CFS
295
Commonwealth Financial Services
West Virginia
$742K -$69.2K -1,362 -9%
PSCM
296
Per Stirling Capital Management
Texas
$734K +$100K +1,975 +16%
TWM
297
Tradition Wealth Management
Minnesota
$713K -$356K -7,000 -33%
AQR Capital Management
298
AQR Capital Management
Connecticut
$713K +$232K +4,561 +48%
CW
299
CreativeOne Wealth
Kansas
$712K -$7.06K -139 -1%
ATC
300
Argent Trust Co
Tennessee
$709K – – –
10 11
12
13 14

JMST Hedge Fund Activity: Q1 2025 in Review

491 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in JPMorgan Ultra-Short Municipal Income ETF (JMST) for Q1 2025, worth a combined $2.67B — up 14% from $2.35B a quarter earlier.

Buyers outnumbered sellers: 65 funds opened new JMST positions and 26 closed out — a net gain of 39 holders — while 239 added to existing stakes and 143 trimmed.

The largest buyer was Northwestern Mutual Wealth Management, adding an estimated $38M. The largest seller was Transform Wealth, cutting an estimated $10.4M.

  • 491 institutional investors held JPMorgan Ultra-Short Municipal Income ETF (JMST) as of Q1 2025, up from 459 in Q4 2024.
  • Funds reported $2.67B of JPMorgan Ultra-Short Municipal Income ETF stock for Q1 2025, up 14% quarter-over-quarter.
  • 65 funds opened new JPMorgan Ultra-Short Municipal Income ETF positions in Q1 2025 and 26 closed out, a net change of +39 holders.
  • The largest JPMorgan Ultra-Short Municipal Income ETF buyer in Q1 2025 was Northwestern Mutual Wealth Management, an estimated $38M added.
  • The largest JPMorgan Ultra-Short Municipal Income ETF seller in Q1 2025 was Transform Wealth, an estimated $10.4M sold.

Based on aggregated 13F filings for Q1 2025.