Vault-13

FIRST TR MORNINGSTAR DIVID L FDL

SHS · ETP · CUSIP 336917109

444 institutional holders +8 vs Q1 2025
80,028,89880.0m shares reported held*
$3.4bnreported value*
42 new 200 added 123 reduced 37 sold out net bought ≈ $240.4m (+5.7m 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 ($51.7k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $41.91. Options: 1 managers hold calls ($0 notional), 1 hold puts ($0).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 291Q4 22: 358Q1 23: 359Q2 23: 348Q3 23: 350Q4 23: 364Q1 24: 363Q2 24: 355Q3 24: 373Q4 24: 408Q1 25: 436Q2 25: 444444Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022291
Q4 2022358
Q1 2023359
Q2 2023348
Q3 2023350
Q4 2023364
Q1 2024363
Q2 2024355
Q3 2024373
Q4 2024408
Q1 2025436
Q2 2025444

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 121 bought or addedQ3 23: 196 cut or sold outQ4 23: 114 bought or addedQ4 23: 206 cut or sold outQ4 23Q1 24: 148 bought or addedQ1 24: 182 cut or sold outQ2 24: 133 bought or addedQ2 24: 189 cut or sold outQ2 24Q3 24: 164 bought or addedQ3 24: 162 cut or sold outQ4 24: 191 bought or addedQ4 24: 137 cut or sold outQ4 24Q1 25: 223 bought or addedQ1 25: 157 cut or sold outQ2 25: 242 bought or addedQ2 25: 160 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023121196
Q4 2023114206
Q1 2024148182
Q2 2024133189
Q3 2024164162
Q4 2024191137
Q1 2025223157
Q2 2025242160

Calls vs puts

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

CallsPuts
$0$2k$4k$6k$8kQ3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $8.0kQ4 24 puts: $0Q4 24P/C 0.00Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —
Numbers
QuarterCallsPutsP/C
Q3 2024$0$0—
Q4 2024$8.0k$00.00
Q1 2025$0$0—
Q2 2025$0$0—

Biggest buyers

ROYAL BANK OF CANADA Added +2,638,399+2.6m
LPL Financial LLC Added +1,110,133+1.1m
Private Advisor Group, LLC Added +697,653+697.7k
AMERIPRISE FINANCIAL INC Added +590,206+590.2k
RAYMOND JAMES FINANCIAL INC Added +411,724+411.7k
OSAIC HOLDINGS, INC. Added +388,747+388.7k
MORGAN STANLEY Added +363,350+363.4k
WELLS FARGO & COMPANY/MN Added +261,819+261.8k
STIFEL FINANCIAL CORP Added +247,285+247.3k
Cetera Investment Advisers Added +213,565+213.6k

Biggest sellers

Creative Planning Reduced -1,130,891-1.1m
JPMORGAN CHASE & CO Reduced -740,366-740.4k
One Capital Management, LLC Sold out -642,365-642.4k
Redhawk Wealth Advisors, Inc. Sold out -426,850-426.9k
First Heartland Consultants, Inc. Reduced -258,486-258.5k
Elevation Capital Advisory, LLC Sold out -221,959-222.0k
AE Wealth Management LLC Reduced -131,500-131.5k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -118,050-118.0k
RENAISSANCE TECHNOLOGIES LLC Reduced -97,200-97.2k
SILVER OAK SECURITIES, INCORPORATED Reduced -89,224-89.2k

Biggest calls

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.17% of their portfolio FORT MILL, SC 11,850,79511.9m $496.2m $496.2m 0.17% Added +1.1m +1,110,133
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 7,839,0267.8m $328.2m $328.2m 0.02% Added +363.4k +363,350
3 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 4,628,8244.6m $193.8m $193.8m 0.02% Added +2.6m +2,638,399
4 RAYMOND JAMES FINANCIAL INC 0.06% of their portfolio ST. PETERSBURG, FL 4,226,2274.2m $177.0m $177.0m 0.06% Added +411.7k +411,724
5 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 3,911,1773.9m $163.8m $163.8m 0.04% Added +590.2k +590,206
6 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 3,066,2873.1m $128.4m $128.4m 0.03% Added +261.8k +261,819
7 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,515,7262.5m $105.3m $105.3m 0.01% Added +146.2k +146,164
8 UBS Group AG 0.02% of their portfolio ZURICH, V8 2,376,0482.4m $99.5m $99.5m 0.02% Added +29.8k +29,825
9 Cetera Investment Advisers 0.15% of their portfolio SCHAUMBURG, IL 2,075,8102.1m $86.9m $86.9m 0.15% Added +213.6k +213,565
10 STIFEL FINANCIAL CORP 0.08% of their portfolio ST. LOUIS, MO 2,057,0222.1m $86.1m $86.1m 0.08% Added +247.3k +247,285
11 Rockport Wealth LLC 18.73% of their portfolio Fairview Park, OH 1,930,7881.9m $80.8m $80.8m 18.73% Reduced -43.3k -43,307
12 Csenge Advisory Group 3.92% of their portfolio CLEARWATER, FL 1,783,8531.8m $74.6m $74.6m 3.92% Added +10.0k +9,991
13 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.05% of their portfolio MILWAUKEE, WI 1,733,2581.7m $72.6m $72.6m 0.05% Added +187.8k +187,827
14 OSAIC HOLDINGS, INC. 0.11% of their portfolio SCOTTSDALE, AZ 1,492,1281.5m $62.5m $62.5m 0.11% Added +388.7k +388,747
15 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 1,263,8111.3m $52.9m $52.9m 0.02% Added +194.5k +194,482
16 Private Advisor Group, LLC 0.28% of their portfolio MORRISTOWN, NJ 1,228,6501.2m $51.4m $51.4m 0.28% Added +697.7k +697,653
17 Cambridge Investment Research Advisors, Inc. 0.13% of their portfolio FAIRFIELD, IA 1,018,2541.0m $42.6m $42.6m 0.13% Reduced -6.8k -6,756
18 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 936,939936.9k $39.2m $39.2m 0.05% Added +27.2k +27,170
19 TRUE Private Wealth Advisors 3.58% of their portfolio Salem, OR 761,386761.4k $31.9m $31.9m 3.58% Reduced -85.8k -85,829
20 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 710,656710.7k $29.7m $29.7m 0.02% Added +197.1k +197,105
21 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 651,832651.8k $27.3m $27.3m 0.04% Added +51.2k +51,237
22 Janney Montgomery Scott LLC 0.07% of their portfolio PHILADELPHIA, PA 638,934638.9k $26.8m $26.8m 0.07% Added +20.0k +19,984
23 STEPHENS INC /AR/ 0.30% of their portfolio LITTLE ROCK, AR 520,211520.2k $21.8m $21.8m 0.30% Added +2.0k +1,966
24 Southland Equity Partners LLC 4.70% of their portfolio WILDWOOD, MO 511,444511.4k $21.4m $21.4m 4.70% Added +8.7k +8,710
25 BEACON FINANCIAL GROUP 2.18% of their portfolio DALLAS, TX 501,128501.1k $21.0m $21.0m 2.18% Reduced -14.1k -14,055
26 D.A. DAVIDSON & CO. 0.14% of their portfolio GREAT FALLS, MT 475,760475.8k $19.9m $19.9m 0.14% Added +38.7k +38,743
27 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 442,836442.8k $18.5m $18.5m 0.02% Added +14.6k +14,584
28 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 427,638427.6k $17.9m $17.9m 0.02% Reduced -1.1m -1,130,891
29 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 397,954398.0k $16.7m $16.7m 0.02% Added +203.2k +203,200
30 Kestra Advisory Services, LLC 0.08% of their portfolio AUSTIN, TX 390,927390.9k $16.4m $16.4m 0.08% Added +82.0k +82,049
31 HC Advisors, LLC 11.24% of their portfolio SANDY SPRINGS, GA 380,189380.2k $15.9m $15.9m 11.24% Added +1.4k +1,435
32 HARBOUR INVESTMENTS, INC. 0.40% of their portfolio MADISON, WI 374,677374.7k $15.7m $15.7m 0.40% Added +23.8k +23,816
33 BANK HAPOALIM BM 2.06% of their portfolio TEL AVIV, L3 348,000348.0k $15.1m $15.1m 2.06% Unchanged
34 Prospera Financial Services Inc 0.23% of their portfolio Dallas, TX 291,373291.4k $12.2m $12.2m 0.23% Added +5.2k +5,203
35 MANCHESTER FINANCIAL INC 2.37% of their portfolio Westlake Village, CA 270,639270.6k $11.3m $11.3m 2.37% Added +34.5k +34,501
36 &PARTNERS 0.08% of their portfolio NASHVILLE, TN 261,823261.8k $11.0m $11.0m 0.08% Added +75.9k +75,925
37 Next Level Private LLC 3.44% of their portfolio HARRISON, NY 252,423252.4k $10.6m $10.6m 3.44% Added +5.0k +4,997
38 Hobart Private Capital, LLC 2.35% of their portfolio CHARLOTTE, NC 247,126247.1k $10.3m $10.3m 2.35% Added +44.9k +44,898
39 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 235,729235.7k $9.9m $9.9m 0.00% Reduced -740.4k -740,366
40 Summit Financial Wealth Advisors, LLC 1.73% of their portfolio Lafayette, LA 230,224230.2k $9.6m $9.6m 1.73% Added +8.6k +8,583
41 McAdam, LLC 0.52% of their portfolio Philadelphia, PA 227,660227.7k $9.5m $9.5m 0.52% Reduced -2.6k -2,584
42 Goldstone Financial Group, LLC 1.26% of their portfolio OAKBROOK TERRACE, IL 221,279221.3k $9.6m $9.6m 1.26% Added +56.3k +56,291
43 Mariner, LLC 0.01% of their portfolio Overland Park, KS 209,021209.0k $8.8m $8.8m 0.01% Reduced -6.6k -6,624
44 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 205,064205.1k $8.6m $8.6m 0.01% Added +27.7k +27,653
45 Rehmann Capital Advisory Group 0.50% of their portfolio LANSING, MI 197,713197.7k $8.3m $8.3m 0.50% Added +23.0k +22,959
46 Guerra Advisors Inc 3.89% of their portfolio MIAMI, FL 196,393196.4k $8.2m $8.2m 3.89% Added +85.2k +85,217
47 Equitable Holdings, Inc. 0.07% of their portfolio NEW YORK, NY 191,086191.1k $8.0m $8.0m 0.07% Added +16.9k +16,903
48 BlueChip Wealth Advisors LLC 3.47% of their portfolio Milton, GA 186,226186.2k $7.8m $7.8m 3.47% Added +2.1k +2,140
49 WJ Wealth Management, LLC 2.45% of their portfolio GLENDALE, AZ 185,569185.6k $7.8m $7.8m 2.45% Reduced -87.3k -87,255
50 Del-Sette Capital Management, LLC 5.38% of their portfolio SCHENECTADY, NY 184,922184.9k $7.7m $7.7m 5.38% New
51 Steward Partners Investment Advisory, LLC 0.06% of their portfolio STAMFORD, CT 181,480181.5k $7.6m $7.6m 0.06% Reduced -33.8k -33,789
52 Key Client Fiduciary Advisors, LLC 3.10% of their portfolio Fairfield, NJ 180,856180.9k $7.6m $7.6m 3.10% Added +1.3k +1,274
53 Mach-1 Financial Group, LLC 2.18% of their portfolio Rogers, AR 178,391178.4k $7.5m $7.5m 2.18% Added +16.4k +16,429
54 VestGen Advisors, LLC 0.30% of their portfolio CHICAGO, IL 175,631175.6k $7.5m $7.5m 0.30% Added +33.8k +33,829
55 Allworth Financial LP 0.03% of their portfolio FOLSOM, CA 173,288173.3k $7.3m $7.3m 0.03% Added +113 +113
56 RFG Advisory, LLC 0.16% of their portfolio BIRMINGHAM, AL 162,183162.2k $6.8m $6.8m 0.16% Added +154.0k +153,973
57 Atria Wealth Solutions, Inc. 0.15% of their portfolio NEW YORK, NY 160,497160.5k $6.7m $6.7m 0.15% Reduced -35.6k -35,648
58 COZAD ASSET MANAGEMENT INC 0.58% of their portfolio CHAMPAIGN, IL 158,751158.8k $6.6m $6.6m 0.58% Added +935 +935
59 JFS WEALTH ADVISORS, LLC 0.41% of their portfolio HERMITAGE, PA 154,588154.6k $6.5m $6.5m 0.41% Added +6.5k +6,519
60 Leelyn Smith, LLC 1.06% of their portfolio GENEVA, IL 154,407154.4k $6.5m $6.5m 1.06% Added +2.8k +2,786
61 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 150,432150.4k $6.3m $6.3m 0.02% Added +10.3k +10,285
62 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 150,000150.0k $6.3m $6.3m 0.00% Added +135.6k +135,550
63 WORLD EQUITY GROUP, INC. 1.70% of their portfolio SCHAUMBURG, IL 148,794148.8k $6.2m $6.2m 1.70% Added +9.7k +9,733
64 EWG Elevate Inc. 1.91% of their portfolio ROSEVILLE, CA 147,694147.7k $6.2m $6.2m 1.91% New
65 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 146,593146.6k $6.3m $6.3m 0.01% Added +21.8k +21,827
66 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 141,681141.7k $5.9m $5.9m 0.00% Added +131.7k +131,681
67 Arax Advisory Partners 0.27% of their portfolio NEW YORK, NY 140,714140.7k $5.9m $5.9m 0.27% Added +38.4k +38,437
68 J.W. COLE ADVISORS, INC. 0.12% of their portfolio TAMPA, FL 136,406136.4k $5.7m $5.7m 0.12% Added +36.5k +36,514
69 Harvest Investment Services, LLC 1.23% of their portfolio Oakbrook Terrace, IL 131,528131.5k $5.5m $5.5m 1.23% Added +3.4k +3,415
70 NewEdge Advisors, LLC 0.03% of their portfolio NEW ORLEANS, LA 126,331126.3k $5.3m $5.3m 0.03% Added +21.5k +21,522
71 FSM Wealth Advisors, LLC 0.87% of their portfolio CLEVELAND, OH 125,380125.4k $5.4m $5.4m 0.87% New
72 AVANTAX ADVISORY SERVICES, INC. 0.03% of their portfolio DALLAS, TX 125,343125.3k $5.2m $5.2m 0.03% Reduced -54.0k -53,987
73 Randall & Associates Wealth Management 4.03% of their portfolio BUTLER, PA 125,234125.2k $5.2m $5.2m 4.03% Added +29.8k +29,777
74 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.42% of their portfolio ORLANDO, FL 124,971125.0k $5.2m $5.2m 0.42% Added +4.8k +4,811
75 Prosperity Consulting Group, LLC 0.38% of their portfolio OWINGS MILLS, MD 124,626124.6k $5.2m $5.2m 0.38% Added +12.3k +12,301
76 HFG Advisors, Inc. 4.06% of their portfolio CINCINATTI, OH 122,420122.4k $5.1m $5.1m 4.06% Added +2.3k +2,302
77 Investors Research Corp 1.00% of their portfolio ATLANTA, GA 121,570121.6k $5.1m $5.1m 1.00% Added +10.0k +10,046
78 Independent Advisor Alliance 0.14% of their portfolio CHARLOTTE, NC 119,402119.4k $5.0m $5.0m 0.14% Added +17.1k +17,088
79 Concurrent Investment Advisors, LLC 0.09% of their portfolio Tampa, FL 115,152115.2k $4.8m $4.8m 0.09% Reduced -2.4k -2,425
80 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 113,313113.3k $4.7m $4.7m 0.01% Added +18.0k +18,040
81 Compass Financial Services Inc 2.27% of their portfolio WEST DES MOINES, IA 111,721111.7k $4.7m $4.7m 2.27% Added +11.0k +10,995
82 GENESIS PRIVATE WEALTH, LLC 2.12% of their portfolio ASHBURN, VA 107,504107.5k $4.5m $4.5m 2.12% Added +2.5k +2,537
83 Vestmark Advisory Solutions, Inc. 0.06% of their portfolio Wakefield, MA 107,232107.2k $4.5m $4.5m 0.06% Added +47.6k +47,629
84 Per Stirling Capital Management, LLC. 0.58% of their portfolio AUSTIN, TX 106,874106.9k $4.5m $4.5m 0.58% Added +69.5k +69,470
85 Elevated Capital Advisors, LLC 1.28% of their portfolio SANDY, UT 104,846104.8k $4.6m $4.6m 1.28% Unchanged
86 Sigma Planning Corp 0.13% of their portfolio ANN ARBOR, MI 104,582104.6k $4.4m $4.4m 0.13% Added +18.9k +18,928
87 Stratos Wealth Partners, LTD. 0.06% of their portfolio BEACHWOOD, OH 99,50599.5k $4.2m $4.2m 0.06% Added +569 +569
88 Coppell Advisory Solutions LLC 0.29% of their portfolio COPPELL, TX 98,58498.6k $4.0m $4.0m 0.29% Added +47.8k +47,796
89 Wisconsin Wealth Advisors, LLC 4.71% of their portfolio SUN PRAIRIE, WI 97,80797.8k $4.1m $4.1m 4.71% Added +4.5k +4,484
90 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 95,53295.5k $4.0m $4.0m 0.01% Reduced -24.3k -24,334
91 IHT Wealth Management, LLC 0.10% of their portfolio Chicago, IL 89,79589.8k $3.8m $3.8m 0.10% Added +17.2k +17,178
92 Capital Analysts, LLC 0.12% of their portfolio FORT WASHINGTON, PA 89,20189.2k $3.7m $3.7m 0.12% Added +3.6k +3,553
93 BARINGS LLC 0.09% of their portfolio CHARLOTTE, NC 88,34888.3k $3.7m $3.7m 0.09% Added +21.6k +21,582
94 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 87,69787.7k $3.7m $3.7m 0.01% Reduced -7.8k -7,848
95 CFS Investment Advisory Services, LLC 0.29% of their portfolio TOTOWA, NJ 86,05986.1k $3.6m $3.6m 0.29% Added +3.4k +3,354
96 OPPENHEIMER & CO INC 0.05% of their portfolio NEW YORK, NY 85,16785.2k $3.6m $3.6m 0.05% Added +14.6k +14,644
97 Good Life Advisors, LLC 0.22% of their portfolio READING, PA 85,00185.0k $3.6m $3.6m 0.22% Added +16.9k +16,941
98 Bluespring Wealth Management, LLC 0.34% of their portfolio AUSTIN, TX 84,50884.5k $3.5m $3.5m 0.34% Reduced -1.5k -1,455
99 PCG Wealth Advisors, LLC 1.80% of their portfolio OVERLAND PARK, KS 84,21284.2k $3.5m $3.5m 1.80% Added +1.3k +1,297
100 BENJAMIN EDWARDS INC 0.04% of their portfolio Clayton, MO 82,25582.3k $3.4m $3.4m 0.04% Added +611 +611