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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
CFO
501
Collective Family Office
Pennsylvania
– -$434K -8,550 Closed
CWM
502
Congress Wealth Management
Massachusetts
– -$425K -8,385 Closed
FWA
503
FOCUS Wealth Advisors
Texas
– -$423K -8,334 Closed
RW
504
Rockport Wealth
Ohio
– -$351K -6,913 Closed
AWA
505
Arete Wealth Advisors
Illinois
– -$322K -6,352 Closed
SC
506
Savant Capital
Illinois
– -$311K -6,133 Closed
HAS
507
HBW Advisory Services
California
– -$287K -5,663 Closed
WCG
508
Weaver Consulting Group
California
– -$287K -5,650 Closed
KFS
509
Kelly Financial Services
Massachusetts
– -$241K -4,758 Closed
BHPW
510
Beverly Hills Private Wealth
California
– -$224K -4,409 Closed
BFA
511
Beaumont Financial Advisors
Massachusetts
– -$212K -4,180 Closed
BTI
512
Blue Trust Inc
Georgia
– -$82.4K -1,625 Closed
MCM
513
MidAtlantic Capital Management
Virginia
– -$79.4K -1,565 Closed
CSP
514
Cary Street Partners
Virginia
– -$34.1K -672 Closed
HR
515
Howe & Rusling
New York
– -$32.7K -644 Closed
AWM
516
Avior Wealth Management
Nebraska
– -$8.16K -161 Closed
NWMP
517
Noble Wealth Management PBC
Colorado
– -$1.72K -34 Closed
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.