Vault-13

J P MORGAN EXCHANGE TRADED F JMST

ULTRA SHT MUNCPL · ETP · CUSIP 46641Q654

499 institutional holders -3 vs Q2 2025
61,325,35561.3m shares reported held*
$3.1bnreported value*
37 new 248 added 159 reduced 32 sold out net bought ≈ $99.3m (+1.9m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $51.03.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 325Q4 22: 354Q1 23: 368Q2 23: 357Q3 23: 360Q4 23: 390Q1 24: 405Q2 24: 427Q3 24: 434Q4 24: 462Q1 25: 493Q2 25: 502Q3 25: 499499Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022325
Q4 2022354
Q1 2023368
Q2 2023357
Q3 2023360
Q4 2023390
Q1 2024405
Q2 2024427
Q3 2024434
Q4 2024462
Q1 2025493
Q2 2025502
Q3 2025499

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 23: 167 bought or addedQ4 23: 191 cut or sold outQ1 24: 189 bought or addedQ1 24: 179 cut or sold outQ1 24Q2 24: 204 bought or addedQ2 24: 185 cut or sold outQ3 24: 235 bought or addedQ3 24: 172 cut or sold outQ3 24Q4 24: 233 bought or addedQ4 24: 184 cut or sold outQ1 25: 305 bought or addedQ1 25: 168 cut or sold outQ1 25Q2 25: 291 bought or addedQ2 25: 188 cut or sold outQ3 25: 285 bought or addedQ3 25: 191 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023167191
Q1 2024189179
Q2 2024204185
Q3 2024235172
Q4 2024233184
Q1 2025305168
Q2 2025291188
Q3 2025285191

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100k$200k$300k$400kQ4 24 calls: $329.6kQ4 24 puts: $0Q4 24P/C 0.00Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$329.6k$00.00
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$0$0—

Biggest buyers

JPMORGAN CHASE & CO Added +1,389,049+1.4m
HB Wealth Management, LLC Added +1,099,860+1.1m
BANK OF AMERICA CORP /DE/ Added +460,157+460.2k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +287,650+287.6k
RAYMOND JAMES FINANCIAL INC Added +192,119+192.1k
FLPUTNAM INVESTMENT MANAGEMENT CO Added +179,219+179.2k
Integrated Wealth Concepts LLC Added +173,756+173.8k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +168,124+168.1k
Elequin Capital, LP Added +159,197+159.2k
One Capital Management, LLC Added +140,540+140.5k

Biggest sellers

RENAISSANCE TECHNOLOGIES LLC Sold out -813,890-813.9k
BAILARD, INC. Reduced -620,783-620.8k
Corient Private Wealth LP Reduced -520,895-520.9k
MJP ASSOCIATES INC /ADV Sold out -457,401-457.4k
Advisor OS, LLC Sold out -454,766-454.8k
ROYAL BANK OF CANADA Reduced -447,164-447.2k
Rockefeller Capital Management L.P. Reduced -299,933-299.9k
JANE STREET GROUP, LLC Sold out -213,251-213.3k
NewEdge Advisors, LLC Reduced -197,884-197.9k
Avidian Wealth Enterprises, LLC Reduced -169,477-169.5k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 3,786,5543.8m $193.3m $193.3m 0.01% Added +460.2k +460,157
2 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.13% of their portfolio MILWAUKEE, WI 3,780,6293.8m $193.0m $193.0m 0.13% Added +168.1k +168,124
3 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 2,969,7963.0m $151.6m $151.6m 0.04% Reduced -162.4k -162,371
4 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,401,0062.4m $122.5m $122.5m 0.00% Added +1.4m +1,389,049
5 HB Wealth Management, LLC 0.60% of their portfolio Atlanta, GA 1,733,1191.7m $88.5m $88.5m 0.60% Added +1.1m +1,099,860
6 Resonant Capital Advisors, LLC 4.22% of their portfolio Madison, WI 1,420,4031.4m $72.5m $72.5m 4.22% Added +128.7k +128,706
7 FMR LLC 0.00% of their portfolio BOSTON, MA 1,381,6021.4m $70.5m $70.5m 0.00% Reduced -38.9k -38,891
8 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,345,8031.3m $68.7m $68.7m 0.01% Reduced -130.3k -130,273
9 Salomon & Ludwin, LLC 5.27% of their portfolio RICHMOND, VA 1,150,0381.2m $58.6m $58.6m 5.27% Added +133.3k +133,284
10 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.08% of their portfolio PLYMOUTH, MN 1,070,4711.1m $54.5m $54.5m 0.08% Added +287.6k +287,650
11 GRIMES & Co WEALTH MANAGEMENT, LLC 1.32% of their portfolio WESTBOROUGH, MA 1,050,8931.1m $53.6m $53.6m 1.32% Reduced -38.9k -38,877
12 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,038,7811.0m $53.0m $53.0m 0.01% Added +137.7k +137,708
13 NorthRock Partners, LLC 0.96% of their portfolio MINNEAPOLIS, MN 1,036,5371.0m $52.9m $52.9m 0.96% Added +132.3k +132,251
14 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 921,842921.8k $47.1m $47.1m 0.01% Added +112.7k +112,721
15 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 906,585906.6k $46.3m $46.3m 0.01% Added +192.1k +192,119
16 Mariner, LLC 0.05% of their portfolio Overland Park, KS 791,045791.0k $40.4m $40.4m 0.05% Reduced -131.9k -131,943
17 Interchange Capital Partners, LLC 7.53% of their portfolio PITTSBURGH, PA 752,356752.4k $38.4m $38.4m 7.53% Added +57.9k +57,936
18 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 686,632686.6k $35.1m $35.1m 0.05% Added +86.7k +86,689
19 WEATHERLY ASSET MANAGEMENT L. P. 2.87% of their portfolio DEL MAR, CA 681,824681.8k $34.8m $34.8m 2.87% Added +68.9k +68,900
20 Bridgewater Advisors Inc. 2.32% of their portfolio NEW YORK, NY 656,953657.0k $33.4m $33.4m 2.32% Added +37.1k +37,145
21 Integrated Wealth Concepts LLC 0.27% of their portfolio WALTHAM, MA 599,972600.0k $30.6m $30.6m 0.27% Added +173.8k +173,756
22 FSM Wealth Advisors, LLC 4.33% of their portfolio CLEVELAND, OH 599,426599.4k $30.6m $30.6m 4.33% Added +7.5k +7,492
23 FLPUTNAM INVESTMENT MANAGEMENT CO 0.44% of their portfolio PORTLAND, ME 573,411573.4k $29.3m $29.3m 0.44% Added +179.2k +179,219
24 Cerity Partners LLC 0.04% of their portfolio NEW YORK, NY 536,204536.2k $27.4m $27.4m 0.04% Reduced -5.6k -5,608
25 Global Wealth Management, LLC 14.24% of their portfolio KINGSTON, NJ 531,582531.6k $27.1m $27.1m 14.24% Added +7.2k +7,209
26 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 526,808526.8k $26.9m $26.9m 0.03% Reduced -63.4k -63,409
27 CWA Asset Management Group, LLC 0.99% of their portfolio NAPLES, FL 525,390525.4k $26.8m $26.8m 0.99% Reduced -4.7k -4,698
28 AlphaCore Capital LLC 0.86% of their portfolio LA JOLLA, CA 496,840496.8k $25.4m $25.4m 0.86% Reduced -1.9k -1,904
29 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 462,652462.7k $23.6m $23.6m 0.00% Reduced -447.2k -447,164
30 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 448,355448.4k $22.9m $22.9m 0.03% Reduced -9.3k -9,349
31 Trust Co 2.30% of their portfolio MANHATTAN, KS 440,125440.1k $22.5m $22.5m 2.30% Added +85.3k +85,269
32 Global Strategic Investment Solutions, LLC 2.09% of their portfolio Scottsdale, AZ 410,095410.1k $20.9m $20.9m 2.09% Added +12.7k +12,737
33 KEYBANK NATIONAL ASSOCIATION/OH 0.07% of their portfolio BROOKLYN, OH 409,707409.7k $20.9m $20.9m 0.07% Reduced -1.3k -1,296
34 Fiduciary Trust Co 0.23% of their portfolio Boston, MA 399,848399.8k $20.4m $20.4m 0.23% Reduced -37.8k -37,780
35 Thrivent Financial for Lutherans 0.04% of their portfolio Minneapolis, MN 395,314395.3k $20.2m $20.2m 0.04% Added +21.6k +21,598
36 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.31% of their portfolio MINNEAPOLIS, MN 386,496386.5k $19.7m $19.7m 0.31% Reduced -9.1k -9,141
37 Corient Private Wealth LP 0.03% of their portfolio MIAMI, FL 372,300372.3k $19.0m $19.0m 0.03% Reduced -520.9k -520,895
38 CWM, LLC 0.06% of their portfolio OMAHA, NE 360,087360.1k $18.4m $18.4m 0.06% Reduced -125.4k -125,386
39 CAPTRUST FINANCIAL ADVISORS 0.04% of their portfolio RALEIGH, NC 357,165357.2k $18.2m $18.2m 0.04% Added +26.0k +25,981
40 Focus Partners Wealth 0.03% of their portfolio ST LOUIS, MO 328,340328.3k $16.8m $16.8m 0.03% Reduced -76.5k -76,486
41 Lido Advisors, LLC 0.06% of their portfolio Los Angeles, CA 303,824303.8k $15.5m $15.5m 0.06% Reduced -26.7k -26,711
42 Auxano Advisors, LLC 3.18% of their portfolio BELLEVUE, WA 292,811292.8k $14.9m $14.9m 3.18% Added +81.3k +81,277
43 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 289,559289.6k $14.8m $14.8m 0.00% Added +72.7k +72,685
44 AXXCESS WEALTH MANAGEMENT, LLC 0.31% of their portfolio CARLSBAD, CA 284,297284.3k $14.5m $14.5m 0.31% Added +21.0k +21,019
45 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 269,661269.7k $13.8m $13.8m 0.02% Added +55.8k +55,759
46 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 268,753268.8k $13.7m $13.7m 0.00% Added +19.8k +19,752
47 Private Advisor Group, LLC 0.07% of their portfolio MORRISTOWN, NJ 267,132267.1k $13.6m $13.6m 0.07% Added +18.8k +18,792
48 Boothe Investment Group, Inc. 4.81% of their portfolio DOVER, DE 257,352257.4k $13.1m $13.1m 4.81% Added +26.5k +26,528
49 MBM WEALTH CONSULTANTS, LLC 3.26% of their portfolio CHESTERFIELD, MO 256,848256.8k $13.1m $13.1m 3.26% Added +8.4k +8,401
50 Avidian Wealth Enterprises, LLC 0.49% of their portfolio Houston, TX 255,903255.9k $13.1m $13.1m 0.49% Reduced -169.5k -169,477
51 Rosenberg Matthew Hamilton 2.80% of their portfolio GRAND JUNCTION, CO 253,719253.7k $12.9m $12.9m 2.80% Added +33.1k +33,075
52 Diversified Portfolios, Inc. 1.14% of their portfolio Bloomfield Hills, MI 253,337253.3k $12.9m $12.9m 1.14% Added +24.5k +24,542
53 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 252,646252.6k $12.9m $12.9m 0.01% Added +70.0k +69,995
54 DAVIDSON INVESTMENT ADVISORS 0.55% of their portfolio GREAT FALLS, MT 252,181252.2k $12.9m $12.9m 0.55% Added +57.3k +57,304
55 MY Wealth Management Inc. 11.14% of their portfolio GERMANTOWN, MD 248,782248.8k $12.7m $12.7m 11.14% Reduced -50.6k -50,638
56 Elequin Capital, LP 1.08% of their portfolio NEW YORK, NY 247,201247.2k $12.6m $12.6m 1.08% Added +159.2k +159,197
57 Capital Asset Advisory Services LLC 0.54% of their portfolio Williamston, MI 247,108247.1k $12.6m $12.6m 0.54% Added +17.1k +17,056
58 Oak Harvest Investment Services 1.47% of their portfolio HOUSTON, TX 246,781246.8k $12.6m $12.6m 1.47% Added +7.4k +7,366
59 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 245,572245.6k $12.5m $12.5m 0.03% Reduced -6.0k -5,957
60 TD Capital Management LLC 1.13% of their portfolio MEMPHIS, TN 245,359245.4k $12.5m $12.5m 1.13% Reduced -5.3k -5,340
61 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 236,247236.2k $12.1m $12.1m 0.02% Reduced -299.9k -299,933
62 NewEdge Advisors, LLC 0.05% of their portfolio NEW ORLEANS, LA 229,336229.3k $11.7m $11.7m 0.05% Reduced -197.9k -197,884
63 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 224,730224.7k $11.5m $11.5m 0.01% Reduced -29.6k -29,602
64 Principle Wealth Partners LLC 0.65% of their portfolio MADISON, CT 220,026220.0k $11.2m $11.2m 0.65% Added +22.8k +22,761
65 Sunflower Bank, N.A. 2.56% of their portfolio DALLAS, TX 206,571206.6k $10.5m $10.5m 2.56% Reduced -14.2k -14,172
66 Opal Wealth Advisors, LLC 2.92% of their portfolio JERICHO, NY 205,713205.7k $10.5m $10.5m 2.92% Added +16.0k +16,016
67 GREAT VALLEY ADVISOR GROUP, INC. 0.21% of their portfolio WILMINGTON, DE 202,501202.5k $10.3m $10.3m 0.21% Reduced -26.9k -26,928
68 Phoenix Wealth Advisors 3.62% of their portfolio CHAPEL HILL, NC 184,698184.7k $9.4m $9.4m 3.62% Added +2.1k +2,052
69 Tortoise Investment Management, LLC 0.80% of their portfolio WHITE PLAINS, NY 175,240175.2k $8.9m $8.9m 0.80% Added +1.9k +1,850
70 One Capital Management, LLC 0.28% of their portfolio WESTLAKE VILLAGE, CA 171,115171.1k $8.7m $8.7m 0.28% Added +140.5k +140,540
71 Quotient Wealth Partners, LLC 0.23% of their portfolio DALLAS, TX 168,027168.0k $8.6m $8.6m 0.23% Reduced -13.1k -13,125
72 Chesley Taft & Associates LLC 0.36% of their portfolio CHICAGO, IL 165,290165.3k $8.4m $8.4m 0.36% Added +1.0k +1,030
73 Boulder Wealth Advisors, LLC 3.78% of their portfolio BOULDER, CO 159,342159.3k $8.1m $8.1m 3.78% First filing
74 Cooper Financial Group 0.89% of their portfolio IRVINE, CA 158,260158.3k $8.1m $8.1m 0.89% Added +28.7k +28,746
75 Sequoia Financial Advisors, LLC 0.05% of their portfolio Akron, OH 158,024158.0k $8.1m $8.1m 0.05% Reduced -3.7k -3,692
76 Legacy Private Trust Co. 0.46% of their portfolio NEENAH, WI 151,442151.4k $7.7m $7.7m 0.46% Added +27.7k +27,675
77 Gradient Investments LLC 0.12% of their portfolio ARDEN HILLS, MN 145,763145.8k $7.4m $7.4m 0.12% Added +49.4k +49,405
78 Elmwood Wealth Management, Inc. 2.63% of their portfolio BERKELEY, CA 145,627145.6k $7.4m $7.4m 2.63% Added +4.1k +4,128
79 REGIONS FINANCIAL CORP 0.02% of their portfolio BIRMINGHAM, AL 145,276145.3k $7.4m $7.4m 0.02% Added +995 +995
80 Whitegate Investment Counselors, Inc. 2.44% of their portfolio CONCORD, NH 145,205145.2k $7.4m $7.4m 2.44% Added +7.9k +7,855
81 McNamara Financial Services, Inc. 1.36% of their portfolio MARSHFIELD, MA 143,170143.2k $7.3m $7.3m 1.36% Added +2.9k +2,860
82 Apex Wealth Management, LLC 5.13% of their portfolio BEDFORD, NH 140,462140.5k $7.2m $7.2m 5.13% Added +9.8k +9,815
83 Great Point Wealth Advisors, LLC 1.33% of their portfolio BOSTON, MA 138,940138.9k $7.1m $7.1m 1.33% First filing
84 CITIZENS FINANCIAL GROUP INC/RI 0.10% of their portfolio PROVIDENCE, RI 136,156136.2k $6.9m $6.9m 0.10% Added +131.3k +131,254
85 WCG Wealth Advisors LLC 0.44% of their portfolio LAS VEGAS, NV 136,078136.1k $6.9m $6.9m 0.44% Reduced -40.4k -40,384
86 Insight Advisors, LLC/ PA 1.05% of their portfolio Newtown, PA 134,620134.6k $6.9m $6.9m 1.05% Added +1.8k +1,777
87 CENTRAL TRUST Co 0.14% of their portfolio JEFFERSON CITY, MO 134,133134.1k $6.8m $6.8m 0.14% Added +25.9k +25,859
88 Summit Financial, LLC 0.10% of their portfolio PARSIPPANY, NJ 134,131134.1k $6.8m $6.8m 0.10% New
89 Capital Analysts, LLC 0.20% of their portfolio FORT WASHINGTON, PA 131,202131.2k $6.7m $6.7m 0.20% Added +28.5k +28,477
90 Aptus Capital Advisors, LLC 0.06% of their portfolio FAIRHOPE, AL 130,305130.3k $6.7m $6.7m 0.06% Reduced -22.8k -22,769
91 Prosperity Consulting Group, LLC 0.31% of their portfolio OWINGS MILLS, MD 124,928124.9k $6.4m $6.4m 0.31% Added +13.2k +13,165
92 Goelzer Investment Management, Inc. 0.33% of their portfolio CARMEL, IN 121,944121.9k $6.2m $6.2m 0.33% Added +11.7k +11,722
93 Per Stirling Capital Management, LLC. 0.74% of their portfolio AUSTIN, TX 120,484120.5k $6.1m $6.1m 0.74% Added +37.8k +37,753
94 WEBSTERROGERS FINANCIAL ADVISORS, LLC 1.83% of their portfolio FLORENCE, SC 119,866119.9k $6.1m $6.1m 1.83% Added +454 +454
95 SOL Capital Management CO 0.55% of their portfolio ROCKVILLE, MD 119,510119.5k $6.1m $6.1m 0.55% Reduced -850 -850
96 APPLETON PARTNERS INC/MA 0.41% of their portfolio BOSTON, MA 118,432118.4k $6.0m $6.0m 0.41% Added +5.4k +5,420
97 MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio DENVER, CO 116,759116.8k $6.0m $6.0m 0.01% Reduced -7.9k -7,915
98 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 115,005115.0k $5.9m $5.9m 0.02% Added +55.7k +55,674
99 ALBION FINANCIAL GROUP /UT 0.35% of their portfolio SALT LAKE CITY, UT 113,776113.8k $5.8m $5.8m 0.35% Added +4.4k +4,367
100 Southeast Asset Advisors, LLC 0.62% of their portfolio THOMASVILLE, GA 112,290112.3k $5.7m $5.7m 0.62% Reduced -6.7k -6,749