F/m Ultrashort Tax-Free Municipal ETF
ZMUN
11 hedge funds and large institutions have $16.8M invested in F/m Ultrashort Tax-Free Municipal ETF in 2026 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 5 increasing their positions, 1 reducing their positions, and 2 closing their positions.
400% more repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 1
150% more first-time investments, than exits
New positions opened: 5 | Existing positions closed: 2
83% more capital invested
Capital invested by funds: $9.18M → $16.8M (+$7.61M)
38% more funds holding
Funds holding: 8 → 11 (+3)
10.53% less ownership
Funds ownership: 65.49% → 54.95% (-11%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FMI
F/M Investments
Washington,
District of Columbia
|
+$2.96M |
| 2 |
CPBTD
Central Pacific Bank - Trust Division
Honolulu,
Hawaii
|
+$1.64M |
| 3 |
CCM
Crew Capital Management
Cincinnati,
Ohio
|
+$1.5M |
| 4 |
CAPTRUST Financial Advisors
Raleigh,
North Carolina
|
+$1.09M |
| 5 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$447K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DM
Diversified Management
Milwaukee,
Wisconsin
|
-$631K |
| 2 |
Jane Street
New York
|
-$378K |
| 3 |
Goldman Sachs
New York
|
-$83.8K |
ZMUN Hedge Fund Activity: Q2 2026 in Review
11 of the 8,318 institutional investors tracked by Wall St. Rank reported a position in F/m Ultrashort Tax-Free Municipal ETF (ZMUN) for Q2 2026, worth a combined $16.8M — up 83% from $9.18M a quarter earlier.
Buyers outnumbered sellers: 5 funds opened new ZMUN positions and 2 closed out — a net gain of 3 holders — while 5 added to existing stakes and 1 trimmed.
The largest buyer was F/M Investments, adding an estimated $2.96M. The largest seller was Diversified Management, exiting entirely with an estimated $631K sold.
- 11 institutional investors held F/m Ultrashort Tax-Free Municipal ETF (ZMUN) as of Q2 2026, up from 8 in Q1 2026.
- Funds reported $16.8M of F/m Ultrashort Tax-Free Municipal ETF stock for Q2 2026, up 83% quarter-over-quarter.
- 5 funds opened new F/m Ultrashort Tax-Free Municipal ETF positions in Q2 2026 and 2 closed out, a net change of +3 holders.
- The largest F/m Ultrashort Tax-Free Municipal ETF buyer in Q2 2026 was F/M Investments, an estimated $2.96M added.
- The largest F/m Ultrashort Tax-Free Municipal ETF seller in Q2 2026 was Diversified Management, an estimated $631K sold.
Based on aggregated 13F filings for Q2 2026.