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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
FLPIM
51
F.L. Putnam Investment Management
Massachusetts
$12.1M +$967K +19,027 +9%
PWP
52
Principle Wealth Partners
Connecticut
$11.9M -$2.87M -56,552 -19%
OHIS
53
Oak Harvest Investment Services
Texas
$11.2M +$1.54M +30,278 +16%
AC
54
AlphaCore Capital
California
$11.2M +$11.2M +220,456 New
Stifel Financial
55
Stifel Financial
Missouri
$11.2M +$2.31M +45,553 +26%
BIG
56
Boothe Investment Group
Delaware
$11.1M -$2.15M -42,228 -16%
MHR
57
Matthew Hamilton Rosenberg
$10.6M +$1.63M +32,061 +18%
SB
58
Sunflower Bank
Texas
$10.6M +$836K +16,457 +9%
PWM
59
Perigon Wealth Management
California
$10.5M +$6.43M +126,497 +160%
DPI
60
Diversified Portfolios Inc
Michigan
$9.87M +$2.93M +57,670 +42%
OWA
61
Opal Wealth Advisors
New York
$9.84M +$1.68M +33,079 +21%
Franklin Resources
62
Franklin Resources
California
$9.45M +$1.18M +23,210 +14%
PWA
63
Phoenix Wealth Advisors
North Carolina
$9.19M -$89.6K -1,764 -1%
QWP
64
Quotient Wealth Partners
Texas
$8.81M +$657K +12,927 +8%
DIA
65
Davidson Investment Advisors
Montana
$8.6M +$525K +10,328 +7%
SFA
66
Sequoia Financial Advisors
Ohio
$8.34M -$305K -6,005 -4%
BWA
67
Boulder Wealth Advisors
Colorado
$8.3M +$2.66M +52,349 +47%
AWM
68
Axxcess Wealth Management
California
$8.11M +$1.19M +23,444 +17%
ACA
69
Aptus Capital Advisors
Alabama
$8.05M -$370K -7,278 -4%
GPWA
70
Great Point Wealth Advisors
Massachusetts
$7.97M +$4.67K +92 +0.1%
RFC
71
Regions Financial Corp
Alabama
$7.96M -$1.01M -19,928 -11%
TIM
72
Tortoise Investment Management
New York
$7.96M +$2.93M +57,580 +58%
AA
73
Auxano Advisors
Washington
$7.56M +$55.7K +1,097 +0.7%
CAAS
74
Capital Asset Advisory Services
Michigan
$7.46M +$1.19M +23,404 +19%
KIM
75
Kestra Investment Management
Texas
$7.29M +$7.05M +138,722 +2,990%
1 2
3
4 5

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.