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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
BPA
376
Beacon Pointe Advisors
California
$407K +$25.4K +499 +7%
TSS
377
Two Sigma Securities
New York
$404K +$403K +7,938 New
EWM
378
Empirical Wealth Management
Washington
$402K +$401K +7,900 New
PA
379
PFG Advisors
Arizona
$401K +$19.9K +392 +5%
MWML
380
M Wealth Management LLC
California
$392K – – –
TC
381
TownSquare Capital
Utah
$391K -$37.8K -744 -9%
SPWG
382
Syntegra Private Wealth Group
Missouri
$386K +$386K +7,587 New
GLA
383
Good Life Advisors
Pennsylvania
$383K +$383K +7,541 New
ST
384
Sentinel Trust
Texas
$375K +$375K +7,378 New
CIC
385
Carnegie Investment Counsel
Ohio
$374K +$376K +7,390 New
SA
386
SoundView Advisors
Washington
$372K +$1.37K +27 +0.4%
ACS
387
Archford Capital Strategies
Illinois
$358K -$95.6K -1,881 -21%
CAL
388
Capital Advisors Ltd
Ohio
$353K – – –
BP
389
Ballentine Partners
Massachusetts
$351K -$20K -394 -5%
RDFA
390
Ritter Daniher Financial Advisory
Ohio
$346K -$72.5K -1,427 -17%
AA
391
Armis Advisers
Georgia
$340K +$340K +6,689 New
WWM
392
Western Wealth Management
Colorado
$339K +$3.2K +63 +1%
SAG
393
SageView Advisory Group
California
$334K +$334K +6,574 New
PCIA
394
Prime Capital Investment Advisors
Kansas
$328K +$104K +2,050 +47%
CAWM
395
Capital Advisors Wealth Management
Washington
$326K +$326K +6,416 New
CIA
396
Concurrent Investment Advisors
Florida
$324K -$14.8K -291 -4%
CQWA
397
Chokshi & Queen Wealth Advisors
California
$318K – – –
HF
398
HRT Financial
New York
$316K +$316K +6,224 New
DWM
399
Dogwood Wealth Management
Kansas
$316K -$40.8K -802 -11%
FFO
400
Fortitude Family Office
Arizona
$315K +$315K +6,202 New
14 15
16
17 18

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.