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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
CPL
401
CAP Partners LLC
Tennessee
$307K -$20.4K -402 -6%
AWM
402
Aries Wealth Management
Maine
$306K -$14.2K -280 -4%
BIA
403
BHK Investment Advisors
Alabama
$305K – – –
SJL
404
Shayne & Jacobs LLC
Tennessee
$305K – – –
DAS
405
DMKC Advisory Services
Iowa
$300K -$60.1K -1,182 -17%
LA
406
LexAurum Advisors
Kansas
$294K +$294K +5,791 New
ZIM
407
Zacks Investment Management
Illinois
$289K +$254 +5 +0.1%
AWS
408
Aspen Wealth Strategies
Colorado
$289K +$50.8K +1,000 +21%
OFP
409
OLIO Financial Planning
Virginia
$286K -$5.74K -113 -2%
EA
410
Ergawealth Advisors
Illinois
$285K +$4.01K +79 +1%
AWA
411
Aletheian Wealth Advisors
Washington
$283K +$38.9K +766 +16%
CFA
412
Capstone Financial Advisors
Illinois
$283K -$54.7K -1,077 -16%
SC
413
SouthState Corp
Florida
$277K +$277K +5,452 New
ICM
414
IMS Capital Management
Oregon
$271K – – –
CWM
415
Cahaba Wealth Management
Georgia
$270K +$4.93K +97 +2%
HA
416
Herold Advisors
New York
$270K +$25.4K +500 +10%
CAG
417
Csenge Advisory Group
Florida
$269K +$270K +5,304 New
HG
418
Harbor Group
New Hampshire
$266K +$1.93K +38 +0.7%
Janney Montgomery Scott
419
Janney Montgomery Scott
Pennsylvania
$265K -$54.6K -1,075 -17%
BOC
420
Blue Oak Capital
California
$265K +$265K +5,209 New
MC
421
Middleton & Co
Massachusetts
$264K -$25.4K -500 -9%
ACI
422
Alpha Cubed Investments
California
$259K +$259K +5,092 New
MPW
423
Monterey Private Wealth
California
$258K +$48.2K +949 +23%
WFA
424
WMG Financial Advisors
Tennessee
$254K +$254K +5,000 New
CFG
425
Citizens Financial Group
Rhode Island
$251K +$42.7K +840 +21%
15 16
17
18 19

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.