Vault-13

FIRST TR SR FLTG RATE INCOME

COM · CUSIP 33733U108

80 institutional holders +2 vs Q1 2025
10,347,07010.3m shares reported held*
$105.1mreported value*
9 new 28 added 22 reduced 9 sold out net sold ≈ $1.3m (-129.9k 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. Holder counts are more reliable. Implied quarter-end price ≈ $10.16.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 67Q4 22: 82Q1 23: 81Q2 23: 76Q3 23: 69Q4 23: 78Q1 24: 74Q2 24: 74Q3 24: 69Q4 24: 75Q1 25: 78Q2 25: 8080Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202267
Q4 202282
Q1 202381
Q2 202376
Q3 202369
Q4 202378
Q1 202474
Q2 202474
Q3 202469
Q4 202475
Q1 202578
Q2 202580

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 23: 25 bought or addedQ3 23: 33 cut or sold outQ4 23: 30 bought or addedQ4 23: 29 cut or sold outQ4 23Q1 24: 35 bought or addedQ1 24: 31 cut or sold outQ2 24: 31 bought or addedQ2 24: 29 cut or sold outQ2 24Q3 24: 35 bought or addedQ3 24: 32 cut or sold outQ4 24: 42 bought or addedQ4 24: 18 cut or sold outQ4 24Q1 25: 39 bought or addedQ1 25: 31 cut or sold outQ2 25: 37 bought or addedQ2 25: 31 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232533
Q4 20233029
Q1 20243531
Q2 20243129
Q3 20243532
Q4 20244218
Q1 20253931
Q2 20253731

Biggest buyers

ROYAL BANK OF CANADA Added +166,647+166.6k
MORGAN STANLEY Added +139,748+139.7k
Invesco Ltd. Added +137,308+137.3k
Rockefeller Capital Management L.P. Added +54,926+54.9k
AMERIPRISE FINANCIAL INC Added +40,907+40.9k
Advisors Asset Management, Inc. Added +37,176+37.2k
Kestra Advisory Services, LLC Added +17,991+18.0k
Sunpointe, LLC New +17,697+17.7k
WELLS FARGO & COMPANY/MN Added +17,292+17.3k
GraniteShares Advisors LLC Added +16,852+16.9k

Biggest sellers

JONES ROAD CAPITAL MANAGEMENT, L.P. Sold out -398,000-398.0k
Pathstone Holdings, LLC Reduced -147,471-147.5k
GUGGENHEIM CAPITAL LLC Reduced -105,598-105.6k
Geneos Wealth Management Inc. Reduced -39,587-39.6k
Helium Advisors LLC Reduced -35,472-35.5k
GENTRY PRIVATE WEALTH, LLC Sold out -29,000-29.0k
MILLENNIUM MANAGEMENT LLC Sold out -22,795-22.8k
Virtus Investment Advisers, LLC Reduced -20,696-20.7k
NorthCoast Asset Management LLC Reduced -17,778-17.8k
LPL Financial LLC Reduced -16,213-16.2k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: MORGAN STANLEY (4.1%, 2026-02-11)

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,009,1072.0m $20.4m $20.4m 0.00% Added +139.7k +139,748
2 Advisors Asset Management, Inc. 0.12% of their portfolio Monument, CO 663,961664.0k $6.7m $6.7m 0.12% Added +37.2k +37,176
3 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 643,395643.4k $6.5m $6.5m 0.00% Added +12.8k +12,835
4 Edgemoor Investment Advisors, Inc. 0.55% of their portfolio BETHESDA, MD 628,648628.6k $6.4m $6.4m 0.55% Reduced -10.4k -10,363
5 GUGGENHEIM CAPITAL LLC 0.04% of their portfolio CHICAGO, IL 523,301523.3k $5.3m $5.3m 0.04% Reduced -105.6k -105,598
6 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 512,105512.1k $5.2m $5.2m 0.00% Added +137.3k +137,308
7 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 481,395481.4k $4.9m $4.9m 0.00% Reduced -16.2k -16,213
8 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 375,601375.6k $3.8m $3.8m 0.01% Added +11.7k +11,675
9 Penserra Capital Management LLC 0.05% of their portfolio ORINDA, CA 369,896369.9k $3.8m $3.8m 0.05% Added +10.9k +10,933
10 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 334,476334.5k $3.4m $3.4m 0.00% Added +166.6k +166,647
11 NorthCoast Asset Management LLC 0.01% of their portfolio STAMFORD, CT 315,334315.3k $3.2m $3.2m 0.01% Reduced -17.8k -17,778
12 Pathstone Holdings, LLC 0.01% of their portfolio ENGLEWOOD, NJ 283,741283.7k $2.9m $2.9m 0.01% Reduced -147.5k -147,471
13 GraniteShares Advisors LLC 1.68% of their portfolio NEW YORK, NY 269,666269.7k $2.7m $2.7m 1.68% Added +16.9k +16,852
14 D.A. DAVIDSON & CO. 0.02% of their portfolio GREAT FALLS, MT 236,902236.9k $2.4m $2.4m 0.02% Added +14.6k +14,587
15 TFG Advisers LLC 0.77% of their portfolio Auburn Hills, MI 222,532222.5k $2.3m $2.3m 0.77% Added +3.3k +3,298
16 UBS Group AG 0.00% of their portfolio ZURICH, V8 197,199197.2k $2.0m $2.0m 0.00% Added +11.3k +11,322
17 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 188,001188.0k $1.9m $1.9m 0.00% Added +40.9k +40,907
18 IFP Advisors, Inc 0.05% of their portfolio TAMPA, FL 179,957180.0k $1.8m $1.8m 0.05% Added +900 +900
19 Shaker Financial Services, LLC 0.61% of their portfolio Arlington, VA 166,080166.1k $1.7m $1.7m 0.61% Reduced -1.5k -1,507
20 1607 Capital Partners, LLC 0.13% of their portfolio Richmond, VA 157,961158.0k $1.6m $1.6m 0.13% Added +253 +253
21 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 122,254122.3k $1.2m $1.2m 0.00% Added +17.3k +17,292
22 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 109,680109.7k $1.1m $1.1m 0.00% Added +54.9k +54,926
23 SIT INVESTMENT ASSOCIATES INC 0.02% of their portfolio Minneapolis, MN 103,158103.2k $1.0m $1.0m 0.02% Unchanged
24 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 99,71999.7k $1.0m $1.0m 0.00% Reduced -1.5k -1,482
25 Helium Advisors LLC 0.57% of their portfolio VANCOUVER, WA 88,94488.9k $903.7k $903.7k 0.57% Reduced -35.5k -35,472
26 Virtus Investment Advisers, LLC 0.28% of their portfolio HARTFORD, CT 81,64081.6k $829.5k $829.5k 0.28% Reduced -20.7k -20,696
27 SHUFRO ROSE & CO LLC 0.07% of their portfolio NEW YORK, NY 80,60080.6k $817.3k $817.3k 0.07% Reduced -1.5k -1,500
28 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 61,70061.7k $626.9k $626.9k 0.00% Added +786 +786
29 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 54,46954.5k $553.0k $553.0k 0.00% Added +8.2k +8,227
30 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 45,30945.3k $460.3k $460.3k 0.00% Reduced -534 -534
31 Everstar Asset Management, LLC 0.27% of their portfolio MOORESVILLE, NC 43,34543.3k $440.4k $440.4k 0.27% Reduced -3.0k -3,000
32 Strategic Financial Concepts, LLC 0.06% of their portfolio SAN ANTONIO, TX 42,10042.1k $427.7k $427.7k 0.06% Added +3.6k +3,600
33 Geneos Wealth Management Inc. 0.01% of their portfolio ENGLEWOOD, CO 40,89140.9k $415.5k $415.5k 0.01% Reduced -39.6k -39,587
34 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 38,56238.6k $391.8k $391.8k 0.00% Reduced -4.3k -4,348
35 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 35,51635.5k $360.8k $360.8k 0.00% Unchanged
36 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 35,39235.4k $359.6k $359.6k 0.00% Reduced -9.0k -8,978
37 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 34,22234.2k $347.7k $347.7k 0.00% Added +18.0k +17,991
38 RFG Advisory, LLC 0.01% of their portfolio BIRMINGHAM, AL 33,71733.7k $342.6k $342.6k 0.01% Added +1.7k +1,731
39 Equitable Holdings, Inc. 0.00% of their portfolio NEW YORK, NY 33,57733.6k $341.1k $341.1k 0.00% Reduced -4.2k -4,250
40 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 30,25830.3k $307.4k $307.4k 0.00% Added +373 +373
41 AEGON USA Investment Management, LLC 0.23% of their portfolio CEDAR RAPIDS, IA 30,01730.0k $305.0k $305.0k 0.23% Unchanged
42 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 28,02328.0k $284.7k $284.7k 0.00% Added +373 +373
43 NWF Advisory Services Inc. 0.03% of their portfolio Los Angeles, CA 24,18724.2k $245.7k $245.7k 0.03% Added +1.4k +1,357
44 CWM, LLC 0.00% of their portfolio OMAHA, NE 21,40321.4k $217.0k $217.0k 0.00% Unchanged
45 Apriem Advisors 0.02% of their portfolio IRVINE, CA 21,00021.0k $213.4k $213.4k 0.02% Unchanged
46 UHLMANN PRICE SECURITIES, LLC 0.13% of their portfolio SKOKIE, IL 18,56718.6k $188.6k $188.6k 0.13% Added +530 +530
47 WESCAP Management Group, Inc. 0.04% of their portfolio Glendale, CA 18,11118.1k $184.0k $184.0k 0.04% Reduced -4.0k -4,031
48 SeaCrest Wealth Management, LLC 0.02% of their portfolio PURCHASE, NY 18,06018.1k $183.5k $183.5k 0.02% Reduced -220 -220
49 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.01% of their portfolio CEDAR RAPIDS, IA 18,04218.0k $183.3k $183.3k 0.01% Reduced -1.2k -1,227
50 Sunpointe, LLC 0.07% of their portfolio ST. LOUIS, MO 17,69717.7k $179.8k $179.8k 0.07% New
51 AMERIFLEX GROUP, INC. 0.09% of their portfolio LAS VEGAS, NV 17,63617.6k $177.9k $177.9k 0.09% Reduced -100 -100
52 KINGSWOOD WEALTH ADVISORS, LLC 0.01% of their portfolio SAN DIEGO, CA 17,10717.1k $173.8k $173.8k 0.01% Unchanged
53 Moss Adams Wealth Advisors LLC 0.02% of their portfolio SEATTLE, WA 16,57716.6k $168.4k $168.4k 0.02% Added +100 +100
54 Verity Asset Management, Inc. 0.08% of their portfolio DURHAM, NC 15,72015.7k $159.7k $159.7k 0.08% Added +696 +696
55 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 14,18114.2k $144.1k $144.1k 0.00% New
56 Cullen/Frost Bankers, Inc. 0.00% of their portfolio San Antonio, TX 13,00013.0k $132.1k $132.1k 0.00% Unchanged
57 Concurrent Investment Advisors, LLC 0.00% of their portfolio Tampa, FL 12,70012.7k $129.0k $129.0k 0.00% Unchanged
58 Tactive Advisors, LLC 0.04% of their portfolio Jacksonville, FL 11,23011.2k $114.1k $114.1k 0.04% First filing
59 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.01% of their portfolio Englewood, NJ 11,16011.2k $113.4k $113.4k 0.01% New
60 ACCREDITED INVESTOR SERVICES, LLC 0.08% of their portfolio ST. CLOUD, MN 10,14710.1k $103.1k $103.1k 0.08% New
61 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 3,4663.5k $35.2k $35.2k 0.00% First filing
62 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 2,8102.8k $28.0k $28.0k 0.00% Unchanged
63 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 2,7002.7k $27.4k $27.4k 0.00% Reduced -149 -149
64 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 2,0002.0k $20.3k $20.3k 0.00% Unchanged
65 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 1,4001.4k $14.0k $14.0k 0.00% Unchanged
66 WHITTIER TRUST CO 0.00% of their portfolio SOUTH PASADENA, CA 1,3581.4k $13.8k $13.8k 0.00% Unchanged
67 WPG Advisers, LLC 0.01% of their portfolio BALTIMORE, MD 1,0961.1k $11.1k $11.1k 0.01% Reduced -67 -67
68 Princeton Global Asset Management LLC 0.00% of their portfolio PRINCETON, NJ 900900 $9.1k $9.1k 0.00% New
69 COMERICA BANK 0.00% of their portfolio DALLAS, TX 785785 $8.0k $8.0k 0.00% Added +431 +431
70 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 517517 $5.3k $5.3k 0.00% Unchanged
71 CoreFirst Bank & Trust 0.00% of their portfolio TOPEKA, KS 312312 $3.2k $3.2k 0.00% New
72 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 241241 $2.4k $2.4k 0.00% Unchanged
73 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 173173 $1.8k $1.8k 0.00% New
74 GPS Wealth Strategies Group, LLC 0.00% of their portfolio CENTENNIAL, CO 150150 $1.5k $1.5k 0.00% Unchanged
75 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 133133 $1.4k $1.4k 0.00% Unchanged
76 Salomon & Ludwin, LLC 0.00% of their portfolio RICHMOND, VA 112112 $1.1k $1.1k 0.00% New
77 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 3434 $345 $345 0.00% New
78 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 77 $71 $71 0.00% Unchanged
79 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 11 $10 $10 0.00% Unchanged
80 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged