Vault-13

FIRST TR MORNINGSTAR DIVID L FDL

SHS · ETP · CUSIP 336917109

466 institutional holders +29 vs Q3 2025
83,881,48683.9m shares reported held*
$3.7bnreported value*
42 new 176 added 150 reduced 28 sold out net bought ≈ $71.1m (+1.6m 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 ($641.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $44.39.

Trends to Q4 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: 444Q3 25: 437Q4 25: 466466Q3 22Q2 23Q1 24Q4 24Q4 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
Q3 2025437
Q4 2025466

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 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 25Q3 25: 220 bought or addedQ3 25: 177 cut or sold outQ4 25: 218 bought or addedQ4 25: 178 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024148182
Q2 2024133189
Q3 2024164162
Q4 2024191137
Q1 2025223157
Q2 2025242160
Q3 2025220177
Q4 2025218178

Biggest buyers

AMERIPRISE FINANCIAL INC Added +1,970,363+2.0m
MORGAN STANLEY Added +778,170+778.2k
RAYMOND JAMES FINANCIAL INC Added +686,116+686.1k
Vestmark Advisory Solutions, Inc. Added +212,736+212.7k
LPL Financial LLC Added +202,537+202.5k
BNP PARIBAS FINANCIAL MARKETS Added +200,505+200.5k
JONES FINANCIAL COMPANIES LLLP Added +197,767+197.8k
Mach-1 Financial Group, LLC New +188,641+188.6k
Cetera Investment Advisers Added +165,110+165.1k
BANK OF AMERICA CORP /DE/ Added +151,542+151.5k

Biggest sellers

Arax Advisory Partners Reduced -2,980,185-3.0m
GOLDMAN SACHS GROUP INC Reduced -312,909-312.9k
JPMORGAN CHASE & CO Reduced -209,866-209.9k
Sowell Financial Services LLC Reduced -181,770-181.8k
WORLD EQUITY GROUP, INC. Sold out -160,665-160.7k
TUDOR INVESTMENT CORP ET AL Sold out -134,910-134.9k
D.A. DAVIDSON & CO. Reduced -90,540-90.5k
STIFEL FINANCIAL CORP Reduced -74,692-74.7k
Creative Planning Reduced -71,967-72.0k
Private Advisor Group, LLC Reduced -70,155-70.2k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.15% of their portfolio FORT MILL, SC 12,408,28612.4m $550.2m $550.2m 0.15% Added +202.5k +202,537
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 8,670,7098.7m $384.5m $384.5m 0.02% Added +778.2k +778,170
3 AMERIPRISE FINANCIAL INC 0.06% of their portfolio MINNEAPOLIS, MN 5,968,5776.0m $264.7m $264.7m 0.06% Added +2.0m +1,970,363
4 RAYMOND JAMES FINANCIAL INC 0.07% of their portfolio ST. PETERSBURG, FL 5,197,5305.2m $230.5m $230.5m 0.07% Added +686.1k +686,116
5 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 3,229,8973.2m $143.2m $143.2m 0.03% Added +73.2k +73,182
6 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,590,7782.6m $114.9m $114.9m 0.01% Added +151.5k +151,542
7 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 2,549,5792.5m $113.0m $113.0m 0.02% Added +52.9k +52,942
8 Cetera Investment Advisers 0.12% of their portfolio SCHAUMBURG, IL 2,480,0692.5m $110.0m $110.0m 0.12% Added +165.1k +165,110
9 UBS Group AG 0.02% of their portfolio ZURICH, V8 2,365,0042.4m $104.9m $104.9m 0.02% Added +45.3k +45,318
10 Csenge Advisory Group 3.79% of their portfolio CLEARWATER, FL 1,887,6011.9m $83.7m $83.7m 3.79% Added +105.3k +105,302
11 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.05% of their portfolio MILWAUKEE, WI 1,835,7861.8m $81.4m $81.4m 0.05% Added +29.5k +29,465
12 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 1,748,2011.7m $77.5m $77.5m 0.07% Reduced -74.7k -74,692
13 Rockport Wealth LLC 13.90% of their portfolio Fairview Park, OH 1,611,5761.6m $71.5m $71.5m 13.90% Reduced -11.9k -11,874
14 OSAIC HOLDINGS, INC. 0.10% of their portfolio SCOTTSDALE, AZ 1,497,1381.5m $66.4m $66.4m 0.10% Reduced -53.3k -53,344
15 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 1,326,8091.3m $58.8m $58.8m 0.02% Reduced -7.0k -7,039
16 Cambridge Investment Research Advisors, Inc. 0.14% of their portfolio FAIRFIELD, IA 1,206,9101.2m $53.5m $53.5m 0.14% Added +141.7k +141,663
17 Private Advisor Group, LLC 0.25% of their portfolio MORRISTOWN, NJ 1,185,4751.2m $52.6m $52.6m 0.25% Reduced -70.2k -70,155
18 JONES FINANCIAL COMPANIES LLLP 0.03% of their portfolio DES PERES, MO 1,090,4831.1m $48.4m $48.4m 0.03% Added +197.8k +197,767
19 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 885,065885.1k $39.2m $39.2m 0.05% Reduced -46.8k -46,837
20 TRUE Private Wealth Advisors 3.29% of their portfolio Salem, OR 740,797740.8k $32.8m $32.8m 3.29% Reduced -10.6k -10,576
21 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 739,686739.7k $32.8m $32.8m 0.04% Added +59.3k +59,314
22 Janney Montgomery Scott LLC 0.07% of their portfolio PHILADELPHIA, PA 654,868654.9k $29.0m $29.0m 0.07% Added +13.8k +13,752
23 STEPHENS INC /AR/ 0.30% of their portfolio LITTLE ROCK, AR 548,765548.8k $24.3m $24.3m 0.30% Added +27.4k +27,399
24 Southland Equity Partners LLC 4.43% of their portfolio WILDWOOD, MO 506,711506.7k $22.5m $22.5m 4.43% Reduced -2.1k -2,133
25 BEACON FINANCIAL GROUP 2.17% of their portfolio DALLAS, TX 491,244491.2k $21.8m $21.8m 2.17% Reduced -3.2k -3,238
26 Kestra Advisory Services, LLC 0.09% of their portfolio AUSTIN, TX 476,676476.7k $21.1m $21.1m 0.09% Added +49.5k +49,538
27 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 434,550434.6k $19.3m $19.3m 0.03% Reduced -2.3k -2,264
28 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 433,100433.1k $19.2m $19.2m 0.02% Reduced -18.4k -18,413
29 D.A. DAVIDSON & CO. 0.11% of their portfolio GREAT FALLS, MT 398,762398.8k $17.7m $17.7m 0.11% Reduced -90.5k -90,540
30 &PARTNERS 0.09% of their portfolio NASHVILLE, TN 366,421366.4k $16.3m $16.3m 0.09% Added +105.4k +105,416
31 MANCHESTER FINANCIAL INC 2.93% of their portfolio Westlake Village, CA 352,833352.8k $15.6m $15.6m 2.93% Added +50.7k +50,679
32 HARBOUR INVESTMENTS, INC. 0.31% of their portfolio MADISON, WI 344,051344.1k $15.3m $15.3m 0.31% Reduced -12.8k -12,846
33 Prospera Financial Services Inc 0.23% of their portfolio Dallas, TX 322,515322.5k $14.3m $14.3m 0.23% Added +73.7k +73,704
34 Hobart Private Capital, LLC 2.65% of their portfolio CHARLOTTE, NC 306,699306.7k $13.6m $13.6m 2.65% Added +28.9k +28,913
35 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 305,022305.0k $13.5m $13.5m 0.00% Reduced -209.9k -209,866
36 Goldstone Financial Group, LLC 1.50% of their portfolio OAKBROOK TERRACE, IL 303,454303.5k $13.5m $13.5m 1.50% Added +18.6k +18,550
37 HC Advisors, LLC 9.24% of their portfolio SANDY SPRINGS, GA 301,109301.1k $13.4m $13.4m 9.24% Added +2.8k +2,803
38 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 300,505300.5k $13.3m $13.3m 0.01% Added +200.5k +200,505
39 Center for Wealth Management Advisory 9.31% of their portfolio MILFORD, OH 285,010285.0k $12.6m $12.6m 9.31% First filing
40 Rockefeller Capital Management L.P. 0.02% of their portfolio NEW YORK, NY 280,408280.4k $12.4m $12.4m 0.02% Added +83.3k +83,330
41 Del-Sette Capital Management, LLC 7.34% of their portfolio SCHENECTADY, NY 268,285268.3k $11.9m $11.9m 7.34% Added +86.8k +86,819
42 Mariner, LLC 0.01% of their portfolio Overland Park, KS 264,341264.3k $11.7m $11.7m 0.01% Added +18.9k +18,869
43 Vestmark Advisory Solutions, Inc. 0.16% of their portfolio Wakefield, MA 263,825263.8k $11.7m $11.7m 0.16% Added +212.7k +212,736
44 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 256,969257.0k $11.4m $11.4m 0.00% Reduced -312.9k -312,909
45 Next Level Private LLC 2.93% of their portfolio HARRISON, NY 251,993252.0k $11.2m $11.2m 2.93% Added +877 +877
46 McAdam, LLC 0.51% of their portfolio Philadelphia, PA 249,172249.2k $11.0m $11.0m 0.51% Added +13.1k +13,056
47 PERRYMAN FINANCIAL ADVISORY INC /AD 1.54% of their portfolio DALLAS, TX 237,314237.3k $10.5m $10.5m 1.54% First filing
48 Equitable Holdings, Inc. 0.07% of their portfolio NEW YORK, NY 232,114232.1k $10.3m $10.3m 0.07% Added +16.9k +16,903
49 Summit Financial Wealth Advisors, LLC 1.46% of their portfolio Lafayette, LA 230,441230.4k $10.2m $10.2m 1.46% Added +997 +997
50 RFG Advisory, LLC 0.19% of their portfolio BIRMINGHAM, AL 227,669227.7k $10.1m $10.1m 0.19% Added +13.8k +13,765
51 Rehmann Capital Advisory Group 0.50% of their portfolio LANSING, MI 216,175216.2k $9.6m $9.6m 0.50% Added +12.8k +12,834
52 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 199,387199.4k $8.8m $8.8m 0.01% Reduced -174 -174
53 Mach-1 Financial Group, LLC 1.72% of their portfolio Rogers, AR 188,641188.6k $8.4m $8.4m 1.72% New
54 Randall & Associates Wealth Management 5.63% of their portfolio BUTLER, PA 183,333183.3k $8.1m $8.1m 5.63% Added +5.7k +5,716
55 Key Client Fiduciary Advisors, LLC 2.76% of their portfolio Fairfield, NJ 179,491179.5k $8.0m $8.0m 2.76% Reduced -2.2k -2,182
56 Allworth Financial LP 0.03% of their portfolio FOLSOM, CA 175,865175.9k $7.8m $7.8m 0.03% Added +3.1k +3,128
57 Steward Partners Investment Advisory, LLC 0.04% of their portfolio STAMFORD, CT 174,985175.0k $7.8m $7.8m 0.04% Reduced -2.3k -2,331
58 BlueChip Wealth Advisors LLC 3.25% of their portfolio Milton, GA 174,524174.5k $7.7m $7.7m 3.25% Reduced -185 -185
59 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 168,449168.4k $7.6m $7.6m 0.01% Added +5.5k +5,549
60 JFS WEALTH ADVISORS, LLC 0.41% of their portfolio HERMITAGE, PA 164,560164.6k $7.3m $7.3m 0.41% Reduced -1.7k -1,681
61 J.W. COLE ADVISORS, INC. 0.17% of their portfolio TAMPA, FL 160,270160.3k $7.1m $7.1m 0.17% Added +7.2k +7,166
62 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 159,132159.1k $7.1m $7.1m 0.01% Reduced -72.0k -71,967
63 Leelyn Smith, LLC 1.01% of their portfolio GENEVA, IL 157,259157.3k $7.0m $7.0m 1.01% Added +832 +832
64 Triumph Capital Management 1.50% of their portfolio DENVER, CO 156,056156.1k $6.9m $6.9m 1.50% Added +5.6k +5,565
65 COZAD ASSET MANAGEMENT INC 0.54% of their portfolio CHAMPAIGN, IL 155,698155.7k $6.9m $6.9m 0.54% Reduced -1.7k -1,653
66 Arax Advisory Partners 0.20% of their portfolio NEW YORK, NY 153,472153.5k $6.8m $6.8m 0.20% Reduced -3.0m -2,980,185
67 CFS Investment Advisory Services, LLC 0.46% of their portfolio TOTOWA, NJ 140,745140.7k $6.2m $6.2m 0.46% Added +54.4k +54,409
68 Farther Finance Advisors, LLC 0.07% of their portfolio SAN FRANCISCO, CA 140,010140.0k $6.2m $6.2m 0.07% Added +49.0k +48,957
69 Investors Research Corp 1.11% of their portfolio ATLANTA, GA 136,998137.0k $6.1m $6.1m 1.11% Added +8.2k +8,188
70 Compass Financial Services Inc 2.60% of their portfolio WEST DES MOINES, IA 136,155136.2k $6.0m $6.0m 2.60% Added +9.3k +9,256
71 Prosperity Consulting Group, LLC 0.27% of their portfolio OWINGS MILLS, MD 133,824133.8k $5.9m $5.9m 0.27% Added +1.2k +1,205
72 Harvest Investment Services, LLC 1.09% of their portfolio Oakbrook Terrace, IL 130,666130.7k $5.8m $5.8m 1.09% Reduced -1.1k -1,069
73 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.39% of their portfolio ORLANDO, FL 130,023130.0k $5.8m $5.8m 0.39% Added +5.1k +5,052
74 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 129,358129.4k $5.7m $5.7m 0.01% Reduced -1.2k -1,222
75 VestGen Advisors, LLC 0.24% of their portfolio CHICAGO, IL 125,241125.2k $5.6m $5.6m 0.24% Reduced -58.9k -58,905
76 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 122,729122.7k $5.4m $5.4m 0.02% Reduced -27.0k -26,983
77 HFG Advisors, Inc. 3.86% of their portfolio CINCINATTI, OH 120,126120.1k $5.3m $5.3m 3.86% Reduced -2.6k -2,559
78 Independent Advisor Alliance 0.13% of their portfolio CHARLOTTE, NC 118,644118.6k $5.3m $5.3m 0.13% Added +1.3k +1,279
79 FSM Wealth Advisors, LLC 0.71% of their portfolio CLEVELAND, OH 117,507117.5k $5.2m $5.2m 0.71% Reduced -4.8k -4,772
80 GENESIS PRIVATE WEALTH, LLC 1.61% of their portfolio ASHBURN, VA 117,133117.1k $5.2m $5.2m 1.61% Added +6.8k +6,778
81 Concurrent Investment Advisors, LLC 0.06% of their portfolio Tampa, FL 114,974115.0k $5.1m $5.1m 0.06% Added +4.6k +4,619
82 Sigma Planning Corp 0.13% of their portfolio ANN ARBOR, MI 109,653109.7k $4.9m $4.9m 0.13% Added +11.5k +11,480
83 KESTRA PRIVATE WEALTH SERVICES, LLC 0.06% of their portfolio AUSTIN, TX 102,251102.3k $4.5m $4.5m 0.06% Added +3.1k +3,128
84 Elevated Capital Advisors, LLC 1.01% of their portfolio SANDY, UT 98,03498.0k $4.3m $4.3m 1.01% Reduced -1.5k -1,543
85 IHT Wealth Management, LLC 0.10% of their portfolio Chicago, IL 95,67895.7k $4.2m $4.2m 0.10% Reduced -1.2k -1,171
86 WEDBUSH SECURITIES INC 0.12% of their portfolio PASADENA, CA 94,62294.6k $4.2m $4.2m 0.12% Added +21.9k +21,902
87 Stratos Wealth Partners, LTD. 0.05% of their portfolio BEACHWOOD, OH 93,84693.8k $4.2m $4.2m 0.05% Reduced -3.2k -3,191
88 Wisconsin Wealth Advisors, LLC 4.05% of their portfolio SUN PRAIRIE, WI 93,24793.2k $4.1m $4.1m 4.05% Reduced -4.0k -4,004
89 BENJAMIN EDWARDS INC 0.04% of their portfolio Clayton, MO 91,61691.6k $4.1m $4.1m 0.04% Added +4.4k +4,396
90 Summit Financial, LLC 0.06% of their portfolio PARSIPPANY, NJ 90,35890.4k $4.0m $4.0m 0.06% Added +6.2k +6,186
91 Arkadios Wealth Advisors 0.08% of their portfolio ATLANTA, GA 89,62689.6k $4.0m $4.0m 0.08% Added +10.4k +10,443
92 Gateway Wealth Partners, LLC 0.43% of their portfolio APPLETON, WI 87,14687.1k $3.9m $3.9m 0.43% Added +2.1k +2,061
93 PCG Wealth Advisors, LLC 1.09% of their portfolio OVERLAND PARK, KS 86,57486.6k $3.8m $3.8m 1.09% Reduced -5.9k -5,916
94 Snowden Capital Advisors LLC 0.09% of their portfolio New York, NY 82,34182.3k $3.7m $3.7m 0.09% Added +2.3k +2,258
95 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 82,33882.3k $3.7m $3.7m 0.01% Reduced -9.2k -9,205
96 PMG Wealth Management, Inc. 2.60% of their portfolio Hawthorn Woods, IL 80,03580.0k $3.5m $3.5m 2.60% Added +5.7k +5,706
97 Proactive Wealth Strategies LLC 1.37% of their portfolio MARIETTA, GA 78,11378.1k $3.5m $3.5m 1.37% Added +305 +305
98 OPPENHEIMER & CO INC 0.05% of their portfolio NEW YORK, NY 78,10578.1k $3.5m $3.5m 0.05% Reduced -4.5k -4,488
99 Maia Wealth LLC 0.66% of their portfolio DENVER, CO 76,92976.9k $3.9m $3.9m 0.66% Added +22.9k +22,924
100 Total Clarity Wealth Management, Inc. 0.80% of their portfolio ST. CHARLES, IL 74,74274.7k $3.3m $3.3m 0.80% Unchanged