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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
HBT
451
Hills Bank & Trust
Iowa
$182K – – –
CF
452
Centaurus Financial
California
$161K +$48.3K +950 +43%
EWP
453
Elevation Wealth Partners
California
$141K – – –
MEG
454
Millstone Evans Group
Colorado
$132K – – –
CTA
455
Colonial Trust Advisors
South Carolina
$121K +$915 +18 +0.8%
KFI
456
Key Financial Inc
Pennsylvania
$108K – – –
BOJHT
457
Bank of Jackson Hole Trust
Wyoming
$99.7K – – –
CIBC Private Wealth Group
458
CIBC Private Wealth Group
Georgia
$98.7K +$99.1K +1,950 New
PWA
459
Principia Wealth Advisory
Texas
$94.1K +$94.5K +1,859 New
EWM
460
EPG Wealth Management
Georgia
$88.1K +$610 +12 +0.7%
CWP
461
Clark Wealth Partners
Illinois
$81K +$610 +12 +0.8%
GTAM
462
Global Trust Asset Management
Florida
$76.3K +$76.2K +1,500 New
PFBT
463
Parkside Financial Bank & Trust
Missouri
$58.2K +$58.2K +1,145 New
1IA
464
1620 Investment Advisors
Massachusetts
$55.3K +$33.7K +664 +157%
WPA
465
West Paces Advisors
Georgia
$54.2K -$59.7K -1,175 -52%
MPWT
466
MassMutual Private Wealth & Trust
Connecticut
$52.7K – – –
TLA
467
Tanglewood Legacy Advisors
Texas
$50.9K – – –
CW
468
Cooksen Wealth
Texas
$50.7K +$50.8K +1,000 New
RF
469
Rossby Financial
Florida
$42.9K +$43K +846 New
SSB
470
Sandy Spring Bank
Maryland
$42.4K -$14.8K -291 -26%
FP
471
Financial Perspectives
Minnesota
$41.2K +$305 +6 +0.7%
CPG
472
Cornerstone Planning Group
New Jersey
$38.7K -$11.2K -221 -22%
AF
473
Allworth Financial
California
$31.3K +$15.1K +298 +93%
LWMI
474
Legacy Wealth Management (Idaho)
Idaho
$26.6K -$24.5K -482 -48%
CI
475
CX Institutional
Indiana
$23K +$23.1K +454 New
17 18
19
20 21

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.