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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
LL
126
LPWM LLC
Minnesota
$3.66M +$1.05M +20,597 +40%
RPSA
127
Richard P. Slaughter Associates
Texas
$3.6M +$2.03M +39,991 +130%
EFL
128
ERn Financial LLC
Wisconsin
$3.53M +$224K +4,401 +7%
TBWA
129
Three Bridge Wealth Advisors
California
$3.52M +$3.46K +68 +0.1%
MWM
130
Modern Wealth Management
Kansas
$3.51M -$26.5K -521 -0.7%
SFGP
131
Stonebridge Financial Group (Pennsylvania)
Pennsylvania
$3.46M +$342K +6,726 +11%
SW
132
SVB Wealth
Massachusetts
$3.4M -$286K -5,622 -8%
SFG
133
Sterling Financial Group
California
$3.37M +$2.86M +56,345 +567%
T
134
Transce3nd
Texas
$3.3M -$520K -10,237 -14%
GIM
135
Goelzer Investment Management
Indiana
$3.29M +$1.13M +22,172 +52%
SFG
136
Sunburst Financial Group
Alabama
$3.26M -$465K -9,148 -12%
CastleKeep Investment Advisors
137
CastleKeep Investment Advisors
Connecticut
$3.24M -$2.31M -45,429 -42%
MA
138
Mutual Advisors
Nebraska
$3.23M +$392K +7,723 +14%
WAP
139
Wealthcare Advisory Partners
Pennsylvania
$3.21M +$320K +6,293 +11%
HWP
140
Highline Wealth Partners
California
$3.19M -$184K -3,624 -5%
DAS
141
Dynamic Advisor Solutions
Arizona
$3.16M -$80.6K -1,586 -2%
BIP
142
Blueprint Investment Partners
North Carolina
$3.16M +$3.16M +62,224 New
GLLW
143
Graves Light Lenhart Wealth
Virginia
$3.13M +$396K +7,802 +14%
HSG
144
Helen Stephens Group
Texas
$3.04M +$305K +6,003 +11%
SW
145
SkyOak Wealth
Michigan
$3M -$502K -9,885 -14%
VWM
146
Venturi Wealth Management
Texas
$3M +$470K +9,252 +19%
PAG
147
Paladin Advisory Group
Iowa
$2.86M +$1.23M +24,279 +76%
PGAM
148
Princeton Global Asset Management
New Jersey
$2.85M +$1.67M +32,790 +141%
AAS
149
Avantax Advisory Services
Texas
$2.77M +$859K +16,911 +45%
EWA
150
Encompass Wealth Advisors
Oregon
$2.74M -$42.7K -840 -2%
4 5
6
7 8

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.