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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
RWP
351
RWA Wealth Partners
Massachusetts
$484K +$82.8K +1,630 +21%
RA
352
RFG Advisory
Alabama
$480K -$237K -4,655 -33%
AF
353
Advisornet Financial
Minnesota
$478K -$151K -2,981 -24%
PWH
354
Priebe Wealth Holdings
Minnesota
$477K -$734K -14,448 -61%
AWS
355
Atria Wealth Solutions
New York
$470K +$6.1K +120 +1%
PGFC
356
Peapack-Gladstone Financial Corp
New Jersey
$470K -$2.48M -48,897 -84%
JSW
357
Journey Strategic Wealth
New Jersey
$462K – – –
WAM
358
WNY Asset Management
New York
$457K – – –
LAM
359
Lifestyle Asset Management
Texas
$451K +$230K +4,529 +104%
CMBA
360
C.M. Bidwell & Associates
Hawaii
$451K – – –
SS
361
Sunbelt Securities
Texas
$445K -$19.6K -386 -4%
JWCA
362
J.W. Cole Advisors
Florida
$442K +$173K +3,413 +65%
PWG
363
Private Wealth Group
Florida
$438K -$2.79K -55 -0.6%
SA
364
Sincerus Advisory
New York
$431K +$711 +14 +0.2%
MC
365
McCarthy & Cox
Ohio
$427K +$112K +2,213 +36%
DC
366
Davenport & Co
Virginia
$425K +$30.7K +605 +8%
PS
367
Principal Securities
Iowa
$424K – – –
MW
368
Members Wealth
Pennsylvania
$422K – – –
BEI
369
Benjamin Edwards Inc
Missouri
$418K +$23.5K +463 +6%
TFO
370
Tarbox Family Office
California
$418K -$88K -1,732 -17%
BFO
371
Boston Family Office
Massachusetts
$413K -$44.1K -867 -10%
ASN
372
Advisory Services Network
Georgia
$410K +$42.8K +842 +12%
AF
373
Amara Financial
California
$409K +$22.2K +436 +6%
IAIM
374
International Assets Investment Management
Florida
$409K +$408K +8,036 New
William Blair & Company
375
William Blair & Company
Illinois
$408K -$31.7K -624 -7%
13 14
15
16 17

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.