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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
TAM
326
Titleist Asset Management
Texas
$582K -$4.88K -96 -0.8%
IA
327
IFG Advisory
Georgia
$574K +$27.3K +538 +5%
SB
328
Strategic Blueprint
Georgia
$570K +$570K +11,209 New
NG
329
Novem Group
New York
$568K +$93.7K +1,843 +20%
AWM
330
Avaii Wealth Management
Wisconsin
$566K -$9.5K -187 -2%
IWM
331
IHT Wealth Management
Illinois
$566K +$3.86K +76 +0.7%
JJBC
332
James J. Burns & Company
New York
$565K -$99.9K -1,965 -15%
GCA
333
Gradient Capital Advisors
California
$563K +$149K +2,937 +36%
Comerica Bank
334
Comerica Bank
Texas
$542K +$237K +4,664 +78%
EA
335
Enclave Advisors
Texas
$541K +$11.7K +231 +2%
FOR
336
Family Office Research
Maryland
$540K +$3.91K +77 +0.7%
RAM
337
Redmond Asset Management
Virginia
$539K +$539K +10,600 New
RA
338
Ruggaard & Associates
Ohio
$538K +$126K +2,480 +31%
SCG
339
Sonata Capital Group
Washington
$519K -$68.6K -1,350 -12%
FCFC
340
First Citizens Financial Corp
Iowa
$517K -$150K -2,960 -23%
NL
341
NWAM LLC
Washington
$515K -$80.4K -1,582 -14%
CWS
342
Confluence Wealth Services
Pennsylvania
$512K +$40.7K +800 +9%
PCA
343
Pallas Capital Advisors
Massachusetts
$509K – – –
SMG
344
Smart Money Group
Texas
$506K -$10.8K -213 -2%
MWM
345
Marion Wealth Management
Pennsylvania
$500K +$110K +2,156 +28%
SWP
346
Sagespring Wealth Partners
Tennessee
$499K +$3.61K +71 +0.7%
TNBTD
347
Trustmark National Bank Trust Department
Mississippi
$498K – – –
TVAMP
348
Tennessee Valley Asset Management Partners
Tennessee
$498K +$246K +4,845 +98%
SFG
349
Shum Financial Group
California
$497K -$201K -3,959 -29%
WIP
350
WealthCare Investment Partners
Rhode Island
$485K -$88.4K -1,739 -15%
12 13
14
15 16

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.