JPMorgan Ultra-Short Municipal Income ETF
JMST
500 hedge funds and large institutions have $2.98B invested in JPMorgan Ultra-Short Municipal Income ETF in 2025 Q2 according to their latest regulatory filings, with 50 funds opening new positions, 245 increasing their positions, 156 reducing their positions, and 32 closing their positions.
57% more repeat investments, than reductions
Existing positions increased: 245 | Existing positions reduced: 156
56% more first-time investments, than exits
New positions opened: 50 | Existing positions closed: 32
12% more capital invested
Capital invested by funds: $2.67B → $2.98B (+$310M)
2% more funds holding
Funds holding: 492 → 500 (+8)
1.52% less ownership
Funds ownership: 75.27% → 73.75% (-1.5%)
10% less funds holding in top 10
Funds holding in top 10: 21 → 19 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GC
Grimes & Company
Westborough,
Massachusetts
|
+$55.3M |
| 2 |
Mariner
Overland Park,
Kansas
|
+$28.1M |
| 3 |
Wealth Enhancement Advisory Services
Plymouth,
Minnesota
|
+$24.3M |
| 4 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
+$23.6M |
| 5 |
ICP
Interchange Capital Partners
Pittsburgh,
Pennsylvania
|
+$22.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
B
Bailard
Foster City,
California
|
-$18.1M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
-$14M |
| 3 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
-$13.6M |
| 4 |
GVAG
Great Valley Advisor Group
Wilmington,
Delaware
|
-$12.5M |
| 5 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
-$12.1M |
JMST Hedge Fund Activity: Q2 2025 in Review
500 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in JPMorgan Ultra-Short Municipal Income ETF (JMST) for Q2 2025, worth a combined $2.98B — up 12% from $2.67B a quarter earlier.
Buyers outnumbered sellers: 50 funds opened new JMST positions and 32 closed out — a net gain of 18 holders — while 245 added to existing stakes and 156 trimmed.
The largest buyer was Grimes & Company, opening a new position worth an estimated $55.3M. The largest seller was Bailard, cutting an estimated $18.1M.
- 500 institutional investors held JPMorgan Ultra-Short Municipal Income ETF (JMST) as of Q2 2025, up from 492 in Q1 2025.
- Funds reported $2.98B of JPMorgan Ultra-Short Municipal Income ETF stock for Q2 2025, up 12% quarter-over-quarter.
- 50 funds opened new JPMorgan Ultra-Short Municipal Income ETF positions in Q2 2025 and 32 closed out, a net change of +18 holders.
- The largest JPMorgan Ultra-Short Municipal Income ETF buyer in Q2 2025 was Grimes & Company, an estimated $55.3M added.
- The largest JPMorgan Ultra-Short Municipal Income ETF seller in Q2 2025 was Bailard, an estimated $18.1M sold.
Based on aggregated 13F filings for Q2 2025.