F/m Ultrashort Tax-Free Municipal ETF
ZMUN
3 hedge funds and large institutions have $6.04M invested in F/m Ultrashort Tax-Free Municipal ETF in 2025 Q4 according to their latest regulatory filings, with 2 funds opening new positions, increasing their positions, 1 reducing their positions, and closing their positions.
728% more capital invested
Capital invested by funds: $730K → $6.04M (+$5.31M)
200% more funds holding
Funds holding: 1 → 3 (+2)
50.27% more ownership
Funds ownership: 0% → 50.27% (+50%)
100% less repeat investments, than reductions
Existing positions increased: 0 | Existing positions reduced: 1
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FMI
F/M Investments
Washington,
District of Columbia
|
+$4.73M |
| 2 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$1.03M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$440K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
FMI
1
F/M Investments
Washington,
District of Columbia
| $4.72M | +$4.73M | +94,328 | New |
|
|
2
Bank of Montreal
Toronto,
Ontario, Canada
| $1.03M | +$1.03M | +20,533 | New |
|
|
3
Jane Street
New York
| $290K | -$440K | -8,778 | -60% |
|
ZMUN Hedge Fund Activity: Q4 2025 in Review
3 of the 8,232 institutional investors tracked by Wall St. Rank reported a position in F/m Ultrashort Tax-Free Municipal ETF (ZMUN) for Q4 2025, worth a combined $6.04M — up 728% from $730K a quarter earlier.
Buyers outnumbered sellers: 2 funds opened new ZMUN positions and 0 closed out — a net gain of 2 holders — while 0 added to existing stakes and 1 trimmed.
The largest buyer was F/M Investments, opening a new position worth an estimated $4.73M. The largest seller was Jane Street, cutting an estimated $440K.
- 3 institutional investors held F/m Ultrashort Tax-Free Municipal ETF (ZMUN) as of Q4 2025, up from 1 in Q3 2025.
- Funds reported $6.04M of F/m Ultrashort Tax-Free Municipal ETF stock for Q4 2025, up 728% quarter-over-quarter.
- 2 funds opened new F/m Ultrashort Tax-Free Municipal ETF positions in Q4 2025 and 0 closed out, a net change of +2 holders.
- The largest F/m Ultrashort Tax-Free Municipal ETF buyer in Q4 2025 was F/M Investments, an estimated $4.73M added.
- The largest F/m Ultrashort Tax-Free Municipal ETF seller in Q4 2025 was Jane Street, an estimated $440K sold.
Based on aggregated 13F filings for Q4 2025.