Vault-13

FIRST TR EXCH TRD ALPHDX FD FEM

EMERG MKT ALPH · ETP · CUSIP 33737J182

104 institutional holders +3 vs Q1 2025
13,952,02714.0m shares reported held*
$342.6mreported value*
10 new 39 added 41 reduced 7 sold out net bought ≈ $25.0m (+1.0m 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 ≈ $24.56.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 95Q4 22: 99Q1 23: 99Q2 23: 105Q3 23: 113Q4 23: 116Q1 24: 110Q2 24: 118Q3 24: 113Q4 24: 112Q1 25: 101Q2 25: 104104Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202295
Q4 202299
Q1 202399
Q2 2023105
Q3 2023113
Q4 2023116
Q1 2024110
Q2 2024118
Q3 2024113
Q4 2024112
Q1 2025101
Q2 2025104

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 55 bought or addedQ3 23: 46 cut or sold outQ4 23: 51 bought or addedQ4 23: 61 cut or sold outQ4 23Q1 24: 57 bought or addedQ1 24: 58 cut or sold outQ2 24: 65 bought or addedQ2 24: 46 cut or sold outQ2 24Q3 24: 66 bought or addedQ3 24: 46 cut or sold outQ4 24: 61 bought or addedQ4 24: 52 cut or sold outQ4 24Q1 25: 50 bought or addedQ1 25: 57 cut or sold outQ2 25: 49 bought or addedQ2 25: 48 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20235546
Q4 20235161
Q1 20245758
Q2 20246546
Q3 20246646
Q4 20246152
Q1 20255057
Q2 20254948

Biggest buyers

ROYAL BANK OF CANADA Added +959,478+959.5k
Cambridge Investment Research Advisors, Inc. Added +227,947+227.9k
RAYMOND JAMES FINANCIAL INC Added +92,616+92.6k
CWM, LLC Added +68,677+68.7k
WORLD EQUITY GROUP, INC. New +40,410+40.4k
PARK AVENUE SECURITIES LLC New +38,714+38.7k
Sanctuary Advisors, LLC Added +37,739+37.7k
ASSETMARK, INC Added +35,099+35.1k
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management Added +33,117+33.1k
LPL Financial LLC Added +32,647+32.6k

Biggest sellers

OLD MISSION CAPITAL LLC Reduced -264,590-264.6k
WELLS FARGO & COMPANY/MN Reduced -127,803-127.8k
UBS Group AG Reduced -90,601-90.6k
JANE STREET GROUP, LLC Reduced -35,302-35.3k
Atria Wealth Solutions, Inc. Sold out -29,543-29.5k
Envestnet Portfolio Solutions, Inc. Reduced -22,871-22.9k
AE Wealth Management LLC Reduced -13,395-13.4k
MML INVESTORS SERVICES, LLC Reduced -13,002-13.0k
Clearwater Capital Advisors, LLC Sold out -11,402-11.4k
Rockefeller Capital Management L.P. Sold out -10,146-10.1k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,322,1532.3m $57.0m $57.0m 0.00% Added +1.5k +1,481
2 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,007,0422.0m $49.3m $49.3m 0.00% Added +959.5k +959,478
3 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,113,4991.1m $27.3m $27.3m 0.01% Added +32.6k +32,647
4 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,054,6651.1m $25.9m $25.9m 0.00% Added +29.2k +29,240
5 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 883,962884.0k $21.7m $21.7m 0.00% Reduced -127.8k -127,803
6 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 0.34% of their portfolio Seattle, WA 606,409606.4k $14.9m $14.9m 0.34% Added +33.1k +33,117
7 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 555,408555.4k $13.6m $13.6m 0.00% Reduced -6.5k -6,519
8 UBS Group AG 0.00% of their portfolio ZURICH, V8 527,030527.0k $12.9m $12.9m 0.00% Reduced -90.6k -90,601
9 Sanctuary Advisors, LLC 0.08% of their portfolio INDIANAPOLIS, IN 513,281513.3k $12.6m $12.6m 0.08% Added +37.7k +37,739
10 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 422,559422.6k $10.4m $10.4m 0.03% Added +227.9k +227,947
11 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 374,921374.9k $9.2m $9.2m 0.00% Added +92.6k +92,616
12 STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio MADISON, WI 313,808313.8k $7.7m $7.7m 0.02% Unchanged
13 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 275,398275.4k $6.8m $6.8m 0.00% Added +1.9k +1,857
14 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 251,955252.0k $6.2m $6.2m 0.01% Reduced -8.3k -8,296
15 ASSETMARK, INC 0.01% of their portfolio CONCORD, CA 214,673214.7k $5.3m $5.3m 0.01% Added +35.1k +35,099
16 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 182,070182.1k $4.5m $4.5m 0.02% Reduced -4.4k -4,429
17 OLD MISSION CAPITAL LLC 0.09% of their portfolio CHICAGO, IL 130,135130.1k $3.2m $3.2m 0.09% Reduced -264.6k -264,590
18 Kingsview Wealth Management, LLC 0.05% of their portfolio GRANTS PASS, OR 128,312128.3k $3.2m $3.2m 0.05% Reduced -4.5k -4,500
19 CWM, LLC 0.01% of their portfolio OMAHA, NE 115,325115.3k $2.8m $2.8m 0.01% Added +68.7k +68,677
20 Atria Investments, Inc 0.03% of their portfolio Charlotte, NC 92,00492.0k $2.3m $2.3m 0.03% Added +19.3k +19,265
21 Midwest Financial Group LLC 1.18% of their portfolio Overland Park, KS 91,54691.5k $2.2m $2.2m 1.18% Reduced -3.5k -3,474
22 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 85,21985.2k $2.1m $2.1m 0.00% Added +8.3k +8,271
23 Coppell Advisory Solutions LLC 0.14% of their portfolio COPPELL, TX 79,18879.2k $1.9m $1.9m 0.14% Added +17.1k +17,053
24 Prospera Financial Services Inc 0.03% of their portfolio Dallas, TX 66,43566.4k $1.6m $1.6m 0.03% Reduced -436 -436
25 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 65,15165.2k $1.6m $1.6m 0.00% Reduced -35.3k -35,302
26 BENJAMIN EDWARDS INC 0.02% of their portfolio Clayton, MO 63,64363.6k $1.6m $1.6m 0.02% Added +10.4k +10,384
27 AE Wealth Management LLC 0.01% of their portfolio TOPEKA, KS 62,58162.6k $1.5m $1.5m 0.01% Reduced -13.4k -13,395
28 PRINCIPAL SECURITIES, INC. 0.03% of their portfolio DES MOINES, IA 59,36059.4k $1.5m $1.5m 0.03% Added +2.9k +2,912
29 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 58,25458.3k $1.4m $1.4m 0.00% Added +4.2k +4,188
30 AVANTAX ADVISORY SERVICES, INC. 0.01% of their portfolio DALLAS, TX 58,16558.2k $1.4m $1.4m 0.01% Reduced -2.3k -2,313
31 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 53,69553.7k $1.3m $1.3m 0.00% Reduced -947 -947
32 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 49,28849.3k $1.2m $1.2m 0.03% Added +1.9k +1,944
33 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 42,16242.2k $1.0m $1.0m 0.00% Reduced -1.8k -1,778
34 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 41,93141.9k $1.0m $1.0m 0.01% Added +15 +15
35 Rathbones Group PLC 0.00% of their portfolio Liverpool, X0 40,52240.5k $995.2k $995.2k 0.00% Added +6.2k +6,167
36 WORLD EQUITY GROUP, INC. 0.27% of their portfolio SCHAUMBURG, IL 40,41040.4k $992.5k $992.5k 0.27% New
37 OneAscent Financial Services LLC 0.07% of their portfolio BIRMINGHAM, AL 40,28840.3k $989.0k $989.0k 0.07% Added +1.6k +1,571
38 Gateway Wealth Partners, LLC 0.19% of their portfolio APPLETON, WI 40,03440.0k $983.2k $983.2k 0.19% Reduced -1.3k -1,335
39 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 39,73139.7k $975.8k $975.8k 0.00% Added +1.8k +1,754
40 Snowden Capital Advisors LLC 0.03% of their portfolio New York, NY 39,07539.1k $959.7k $959.7k 0.03% Reduced -142 -142
41 PARK AVENUE SECURITIES LLC 0.01% of their portfolio NEW YORK, NY 38,71438.7k $951.0k $951.0k 0.01% New
42 Chicago Partners Investment Group LLC 0.03% of their portfolio CHICAGO, IL 38,24838.2k $973.6k $973.6k 0.03% Added +247 +247
43 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 35,94035.9k $882.7k $882.7k 0.01% Reduced -1.7k -1,731
44 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 35,03135.0k $860.4k $860.4k 0.02% Added +201 +201
45 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 31,31731.3k $769.2k $769.2k 0.01% Reduced -896 -896
46 Aprio Wealth Management, LLC 0.09% of their portfolio ATLANTA, GA 31,10031.1k $763.8k $763.8k 0.09% Unchanged
47 IAMS WEALTH MANAGEMENT, LLC 0.33% of their portfolio OMAHA, NE 29,04229.0k $713.3k $713.3k 0.33% Added +42 +42
48 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 29,03429.0k $713.1k $713.1k 0.00% Reduced -545 -545
49 COMERICA BANK 0.00% of their portfolio DALLAS, TX 28,16928.2k $691.8k $691.8k 0.00% Added +428 +428
50 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 25,99226.0k $638.0k $638.0k 0.00% Reduced -13.0k -13,002
51 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 25,86225.9k $635.2k $635.2k 0.01% Reduced -3.2k -3,226
52 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 25,17825.2k $618.4k $618.4k 0.00% Reduced -2.5k -2,450
53 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 24,98725.0k $613.7k $613.7k 0.00% Reduced -1.8k -1,754
54 NewEdge Wealth, LLC 0.01% of their portfolio STAMFORD, CT 22,24522.2k $571.1k $571.1k 0.01% Reduced -607 -607
55 Richmond Investment Services, LLC 0.11% of their portfolio Mequon, WI 21,94021.9k $538.9k $538.9k 0.11% Added +11.0k +10,993
56 Formidable Asset Management, LLC 0.07% of their portfolio CINCINNATI, OH 18,94318.9k $433.0k $433.0k 0.07% Unchanged
57 Sebold Capital Management, Inc. 0.24% of their portfolio LISLE, IL 15,58215.6k $382.7k $382.7k 0.24% Reduced -2.9k -2,922
58 Higgins & Schmidt Wealth Strategies LLC 0.20% of their portfolio DENVER, CO 14,38214.4k $353.2k $353.2k 0.20% Unchanged
59 Envestnet Portfolio Solutions, Inc. 0.00% of their portfolio BERWYN, PA 14,09114.1k $346.1k $346.1k 0.00% Reduced -22.9k -22,871
60 PFG Advisors 0.02% of their portfolio Phoenix, AZ 13,92213.9k $341.9k $341.9k 0.02% Reduced -8.0k -7,990
61 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 13,69713.7k $332.8k $332.8k 0.00% Added +4.4k +4,388
62 SIGNATURE ESTATE & INVESTMENT ADVISORS LLC 0.01% of their portfolio LOS ANGELES, CA 13,62413.6k $334.6k $334.6k 0.01% Reduced -2.6k -2,617
63 Trueblood Wealth Management, LLC 0.14% of their portfolio LIMA, OH 13,16613.2k $323.4k $323.4k 0.14% Reduced -65 -65
64 Pine Valley Investments Ltd Liability Co 0.02% of their portfolio MARLTON, NJ 13,10313.1k $321.8k $321.8k 0.02% Added +427 +427
65 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 12,38612.4k $304.2k $304.2k 0.01% Added +295 +295
66 LaSalle St. Investment Advisors, LLC 0.08% of their portfolio ELMHURST, IL 12,02712.0k $295.0k $295.0k 0.08% Added +677 +677
67 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 11,99412.0k $294.6k $294.6k 0.01% Added +683 +683
68 RFG Advisory, LLC 0.01% of their portfolio BIRMINGHAM, AL 10,51810.5k $258.3k $258.3k 0.01% Reduced -124 -124
69 Cyndeo Wealth Partners, LLC 0.02% of their portfolio ST. PETERSBURG, FL 10,34310.3k $254.0k $254.0k 0.02% Unchanged
70 Pinnacle Family Advisors, LLC 0.12% of their portfolio Springfield, MO 10,24210.2k $251.5k $251.5k 0.12% Added +217 +217
71 FSB PREMIER WEALTH MANAGEMENT, INC. 0.09% of their portfolio WATERLOO, IA 9,95310.0k $244.4k $244.4k 0.09% Added +467 +467
72 Traction Financial Partners, LLC 0.15% of their portfolio LITTLETON, CO 9,2089.2k $226.1k $226.1k 0.15% New
73 ABLE Financial Group, LLC 0.05% of their portfolio SCOTTSDALE, AZ 9,0919.1k $223.3k $223.3k 0.05% Reduced -62 -62
74 Mariner, LLC 0.00% of their portfolio Overland Park, KS 9,0739.1k $222.8k $222.8k 0.00% Unchanged
75 Element Wealth, LLC 0.10% of their portfolio RIDGELAND, MS 8,9108.9k $218.8k $218.8k 0.10% Reduced -8 -8
76 MEITAV INVESTMENT HOUSE LTD 0.00% of their portfolio BENE-BERAQ, L3 8,8938.9k $218.4k $218.4k 0.00% Unchanged
77 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 7,2727.3k $178.6k $178.6k 0.00% First filing
78 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 6,7326.7k $165.3k $165.3k 0.00% Reduced -495 -495
79 MPWM ADVISORY SOLUTIONS, LLC 0.09% of their portfolio ALPHARETTA, GA 5,7165.7k $140.4k $140.4k 0.09% New
80 TUCKER ASSET MANAGEMENT LLC 0.04% of their portfolio LITTLETON, CO 4,9444.9k $121.4k $121.4k 0.04% Added +1.5k +1,493
81 Ameritas Advisory Services, LLC 0.01% of their portfolio Lincoln, NE 4,6794.7k $114.9k $114.9k 0.01% New
82 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 2,8832.9k $70.8k $70.8k 0.00% Reduced -1.0k -1,009
83 Evelyn Partners Investment Management LLP 0.00% of their portfolio London, X0 2,8752.9k $70.6k $70.6k 0.00% Unchanged
84 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 2,4382.4k $59.0k $59.0k 0.00% Reduced -2.8k -2,833
85 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 2,3692.4k $58.2k $58.2k 0.00% Added +31 +31
86 THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. 0.01% of their portfolio INDIANAPOLIS, IN 2,0592.1k $50.6k $50.6k 0.01% New
87 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 1,9301.9k $47.4k $47.4k 0.00% Reduced -2.4k -2,429
88 Rossby Financial, LCC 0.02% of their portfolio MELBOURNE, FL 1,6701.7k $41.0k $41.0k 0.02% Added +2 +2
89 Capital Analysts, LLC 0.00% of their portfolio FORT WASHINGTON, PA 1,5141.5k $37.0k $37.0k 0.00% Added +579 +579
90 CITY HOLDING CO 0.00% of their portfolio CHARLESTON, WV 1,4501.4k $35.6k $35.6k 0.00% Unchanged
91 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 1,3391.3k $32.9k $32.9k 0.00% Reduced -606 -606
92 Tidemark, LLC 0.01% of their portfolio SAN DIEGO, CA 1,1311.1k $27.8k $27.8k 0.01% Reduced -182 -182
93 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 782782 $19.2k $19.2k 0.00% New
94 TRUST CO OF TOLEDO NA /OH/ 0.00% of their portfolio HOLLAND, OH 683683 $16.8k $16.8k 0.00% New
95 MTM Investment Management, LLC 0.00% of their portfolio SPARTANBURG, SC 540540 $13.3k $13.3k 0.00% New
96 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 500500 $12.3k $12.3k 0.00% Unchanged
97 FMR LLC 0.00% of their portfolio BOSTON, MA 348348 $8.6k $8.6k 0.00% Added +254 +254
98 Sunbelt Securities, Inc. 0.00% of their portfolio HOUSTON, TX 258258 $5.7k $5.7k 0.00% Reduced -1 -1
99 TWIN PEAKS WEALTH ADVISORS, LLC 0.00% of their portfolio SAN FRANCISCO, CA 235235 $6.1k $6.1k 0.00% New
100 Transce3nd, LLC 0.00% of their portfolio BUDA, TX 169169 $4.2k $4.2k 0.00% Reduced -48 -48