LMBS vs FTSM overlap
LMBS and FTSM overlap 0.8% by weight, across 18 shared holdings.
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Top shared holdings
| Holding | LMBS | FTSM | Overlap |
|---|---|---|---|
| Research-Driven Pagaya Motor Trust, Series 2025-5A, Class A3 | 0.13% | 0.10% | 0.10% |
| CMORPM | 0.08% | 0.20% | 0.08% |
| CAS 2024-R05 2A1 | 0.07% | 0.29% | 0.07% |
| CAS 2025-R02 1A1 | 0.06% | 0.18% | 0.06% |
| Figre 2026-FL1 A1FC | 0.06% | 0.18% | 0.06% |
| RPM 2025-1A a | 0.05% | 0.14% | 0.05% |
| CAS 2024-R04 1A1 | 0.06% | 0.05% | 0.05% |
| JP Morgan Mortgage Trust Series 2026-LTV1 | 0.04% | 0.26% | 0.04% |
| Pfsfc 2025-C a | 0.04% | 0.15% | 0.04% |
| Stacr 2025-HQA1 A1 | 0.03% | 0.15% | 0.03% |
| Prkcm 2025-Home1 A1A | 0.03% | 0.11% | 0.03% |
| PAID 2024-10 a | 0.03% | 0.04% | 0.03% |
| PRPM 2025-NQM6 Trust | 0.03% | 0.10% | 0.03% |
| PAID 2024-11 a | 0.04% | 0.03% | 0.03% |
| FNA 2017-M8 A2 | 0.11% | 0.03% | 0.03% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: LMBS, SEC Form N-PORT, July 31, 2026; FTSM, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | LMBS | FTSM |
|---|---|---|
| Morgan Stanley | $784.0M | $816.4M |
| LPL Financial LLC | $684.5M | $531.1M |
| Wells Fargo & Company | $284.1M | $451.2M |
| UBS Group AG | $247.1M | $166.8M |
| Raymond James Financial Inc. | $212.8M | $163.1M |
| Royal Bank of Canada | $167.2M | $187.7M |
| Bank of America Corp. | $101.1M | $147.6M |
| Cetera Investment Advisers | $136.3M | $101.3M |
| Cambridge Investment Research Advisors, Inc. | $74.6M | $106.4M |
| Csenge Advisory Group | $44.9M | $113.6M |
| Commonwealth Equity Services, LLC | $76.3M | $74.5M |
| HighTower Advisors, LLC | $105.1M | $17.0M |
| Osaic Holdings, Inc. | $38.0M | $72.5M |
| Stifel Financial Corp. | $33.8M | $71.5M |
| Envestnet Asset Management Inc. | $50.7M | $51.7M |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: LMBS institutional holders, FTSM institutional holders.
Frequently asked questions
How much do LMBS and FTSM overlap?
0.8% by weight, with 18 holdings in common, using holdings for LMBS as of July 31, 2026 and FTSM as of July 31, 2026. The largest shared position is Research-Driven Pagaya Motor Trust, Series 2025-5A, Class A3.
Do institutions hold both LMBS and FTSM?
236 Form 13F filers report positions in both, out of 644 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.