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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
SA
151
Sanctuary Advisors
Indiana
$2.72M -$720K -14,176 -21%
AWC
152
Adamsbrown Wealth Consultants
Kansas
$2.7M -$37.7K -742 -1%
RPC
153
Rossmore Private Capital
Connecticut
$2.7M +$2.42M +47,704 +894%
RSWA
154
Robinson Smith Wealth Advisors
Maine
$2.63M +$95.9K +1,888 +4%
FFN
155
Focus Financial Network
Minnesota
$2.63M -$72.5K -1,427 -3%
VPP
156
Vertex Planning Partners
Illinois
$2.59M +$126K +2,483 +5%
CWM
157
CCG Wealth Management
California
$2.56M +$715K +14,062 +39%
SF
158
Synovus Financial
Georgia
$2.54M -$109K -2,142 -4%
IAN
159
Integrated Advisors Network
Texas
$2.5M -$47K -924 -2%
GI
160
Gradient Investments
Minnesota
$2.5M +$2.5M +49,243 New
SFP
161
Sandbox Financial Partners
Maryland
$2.5M +$66.3K +1,304 +3%
LWP
162
Laurel Wealth Planning
Minnesota
$2.49M +$399K +7,848 +19%
CAM
163
Clarity Asset Management
Iowa
$2.42M +$3.61K +71 +0.1%
PCM
164
Pennsylvania Capital Management
Pennsylvania
$2.42M +$746K +14,673 +45%
Creative Planning
165
Creative Planning
Kansas
$2.42M +$111K +2,191 +5%
SWP
166
Stratos Wealth Partners
Ohio
$2.41M +$288K +5,665 +14%
SSC
167
Syverson Strege & Co
Iowa
$2.37M +$2.37M +46,601 New
NFP
168
Narus Financial Partners
Utah
$2.34M -$978K -19,249 -30%
FIM
169
Freedom Investment Management
Connecticut
$2.3M -$71.4K -1,405 -3%
NCM
170
NCM Capital Management
New Jersey
$2.28M +$1.34M +26,435 +143%
VCM
171
Virtue Capital Management
Tennessee
$2.24M +$2.24M +44,089 New
KCM
172
Kathmere Capital Management
Pennsylvania
$2.23M -$479K -9,430 -18%
PA
173
Parallel Advisors
California
$2.23M +$1.76M +34,652 +379%
IA
174
IFP Advisors
Florida
$2.23M +$16.5K +324 +0.7%
BL
175
BFSG LLC
California
$2.22M -$131K -2,585 -6%
5 6
7
8 9

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.