Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

ACTIVEPASSIVE INTERMEDIATE MUNICIPAL BOND ETF (APMU)

21 + Investors. Track Smart Money conviction in APMU. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -2
Streak
1Q ▼
Buyers last Q
57%

Smart Money Signals — APMU

Based on 21 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their APMU positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 91% of 3.0Y peak

91% of all-time peak
21 funds currently hold this stock — 91% of the 3.0-year high of 23 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 5% fewer funds vs a year ago

fund count last 6Q
1 fewer hedge funds hold APMU compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 57% buying

13 buying10 selling
Last quarter: 13 funds bought or added vs 10 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~2 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 3 → 2 → 5 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄

Mostly new holders — 19% entered in last year

■ 19% conviction (2yr+) ■ 62% medium ■ 19% new
Only 4 funds (19%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
➡️

Steady discovery — ~2 new funds/quarter

7 → 3 → 2 → 5 → 2 new funds/Q
New funds entering each quarter: 3 → 2 → 5 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊

Mixed cohorts — 29% veterans, 38% new entrants

■ 29% veterans ■ 33% 1-2yr ■ 38% new
Of 21 current holders: 6 (29%) held 2+ years, 7 held 1–2 years, 8 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 54% AUM from top-100 funds

54% from top-100 AUM funds
7 of 21 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in APMU. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.1
out of 10
Low Exit Risk
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — APMU

In 2025 Q4, 13 hedge funds were net buyers of APMU (2 opened a new position, 11 added to an existing one), while 10 reduced or exited (6 trimmed, 4 sold completely) — a 57% buyer ratio, indicating a slight buying edge. 54% of total institutional value in APMU is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -2 funds (more exits than new entries). Total institutional holders: 21.

Hedge Fund Ownership: APMU

How many hedge funds hold APMU — quarterly history vs. share price
Quarterly hedge fund ownership of APMU vs. share price

Market Analysis: APMU

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: APMU

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

2 top-rated funds 0 high-conviction
Consensus
2.1
/ 10
breadth
×
Elite
0.1
/ 10
conviction
Hedge Fund Positioning: APMU
2026 Q1 Stats Unlock in 4 days 21 + Investors

Track Smart Money conviction in APMU. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 21 23 -8.7%
13F Shares 9M 8M 8.42%
Total Value $225M $208M 8.21%
New Positions 2 5 -3
Increased Positions 11 12 -1
Closed Positions 4 3 +1
Reduced Positions 6 3 +3
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: APMU

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

21 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in APMU. Verified SEC 13F-HR filings.

QUARTER:
Top 22 institutional holders of APMU — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Envestnet Portfolio Solutions, Inc. 0.43% 3,089,868 $76.9M
2 RESOLUTE WEALTH ADVISOR, INC. 0.18% 12,517 $312K
3 PRINCIPAL SECURITIES, INC. 0.15% 411,841 $10.3M
4 B. Riley Wealth Advisors, Inc. 0.15% 93,857 $2.3M
5 Financial Sense Advisors, Inc. 0.06% 11,353 $283K
6 PARK AVENUE SECURITIES LLC 0.04% 195,719 $5K
7 ENVESTNET ASSET MANAGEMENT INC 0.03% 5,013,814 $124.8M
8 &PARTNERS 0.02% 165,646 $4.1M
9 MML INVESTORS SERVICES, LLC 0.01% 182,239 $4.5M
10 Spire Wealth Management 0.01% 6,379 $159K
11 LPL Financial LLC 0.00% 452,184 $11.3M
12 Sound Income Strategies, LLC 0.00% 1,993 $50K
13 Cetera Investment Advisers 0.00% 80,366 $2.0M
14 Farther Finance Advisors, LLC 0.00% 5,325 $132K
15 Allworth Financial LP 0.00% 11,236 $280K
16 PRINCIPAL FINANCIAL GROUP INC 0.00% 42,994 $1.1M
17 COMMONWEALTH EQUITY SERVICES, LLC 0.00% 13,750 $342K
18 OSAIC HOLDINGS, INC. 0.00% 8,839 $220K
19 PNC FINANCIAL SERVICES GROUP, INC. 0.00% 3,637 $91K
20 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% 11,477 $286K
21 UBS Group AG 0.00% 313 $8K
22 MORGAN STANLEY 0.00% 1 —
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — ACTIVEPASSIVE INTERMEDIATE MUNICIPAL BOND ETF (APMU)

What does the Smart Money Trend signal show for APMU?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their APMU positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for APMU?

Slight buying edge — 57% buying: Last quarter: 13 funds bought or added vs 10 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for APMU holders?

Elite ownership — 54% AUM from top-100 funds: 7 of 21 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in APMU. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held APMU?

Mostly new holders — 19% entered in last year: Only 4 funds (19%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.