Vault-13

FIRST TR EXCHANGE-TRADED FD FTSL

SENIOR LN FD · ETP · CUSIP 33738D309

316 institutional holders -1 vs Q3 2025
36,016,20836.0m shares reported held*
$1.7bnreported value*
20 new 119 added 125 reduced 26 sold out net sold ≈ $16.0m (-349.4k 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 ($461.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $45.88.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 324Q4 22: 333Q1 23: 313Q2 23: 302Q3 23: 300Q4 23: 327Q1 24: 316Q2 24: 333Q3 24: 323Q4 24: 355Q1 25: 343Q2 25: 333Q3 25: 317Q4 25: 316316Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022324
Q4 2022333
Q1 2023313
Q2 2023302
Q3 2023300
Q4 2023327
Q1 2024316
Q2 2024333
Q3 2024323
Q4 2024355
Q1 2025343
Q2 2025333
Q3 2025317
Q4 2025316

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 148 bought or addedQ1 24: 169 cut or sold outQ2 24: 188 bought or addedQ2 24: 128 cut or sold outQ2 24Q3 24: 142 bought or addedQ3 24: 173 cut or sold outQ4 24: 177 bought or addedQ4 24: 130 cut or sold outQ4 24Q1 25: 177 bought or addedQ1 25: 135 cut or sold outQ2 25: 157 bought or addedQ2 25: 163 cut or sold outQ2 25Q3 25: 157 bought or addedQ3 25: 148 cut or sold outQ4 25: 139 bought or addedQ4 25: 151 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024148169
Q2 2024188128
Q3 2024142173
Q4 2024177130
Q1 2025177135
Q2 2025157163
Q3 2025157148
Q4 2025139151

Calls vs puts

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

CallsPuts
$0$2k$4k$6k$8kQ1 25 calls: $7.0kQ1 25 puts: $0Q1 25P/C 0.00Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$7.0k$00.00
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$0$0—

Biggest buyers

Virtue Capital Management, LLC Added +671,080+671.1k
Focus Partners Wealth New +650,182+650.2k
Concurrent Investment Advisors, LLC Added +293,847+293.8k
One Capital Management, LLC Added +128,141+128.1k
Cetera Investment Advisers Added +108,169+108.2k
CNO Financial Group, Inc. Added +100,000+100.0k
GRIMES & Co WEALTH MANAGEMENT, LLC New +60,455+60.5k
TrueWealth Financial Partners New +55,358+55.4k
Private Advisor Group, LLC Added +52,480+52.5k
Blackhawk Capital Partners, LLC Added +50,783+50.8k

Biggest sellers

NorthCoast Asset Management LLC Sold out -655,855-655.9k
MORGAN STANLEY Reduced -335,484-335.5k
RENAISSANCE TECHNOLOGIES LLC Reduced -273,325-273.3k
Integrated Wealth Concepts LLC Reduced -218,587-218.6k
RAYMOND JAMES FINANCIAL INC Reduced -167,385-167.4k
OLD MISSION CAPITAL LLC Reduced -140,561-140.6k
WELLS FARGO & COMPANY/MN Reduced -122,561-122.6k
Sanctuary Advisors, LLC Reduced -85,880-85.9k
BANK OF AMERICA CORP /DE/ Reduced -78,740-78.7k
Bison Wealth, LLC Reduced -76,535-76.5k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,226,9664.2m $193.9m $193.9m 0.01% Reduced -335.5k -335,484
2 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,990,6212.0m $91.3m $91.3m 0.02% Reduced -46.6k -46,564
3 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 1,829,6801.8m $83.9m $83.9m 0.02% Reduced -122.6k -122,561
4 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,743,4921.7m $80.0m $80.0m 0.01% Reduced -78.7k -78,740
5 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,550,6851.6m $71.1m $71.1m 0.01% Added +25.1k +25,058
6 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 1,395,7761.4m $64.0m $64.0m 0.02% Reduced -167.4k -167,385
7 One Capital Management, LLC 1.75% of their portfolio WESTLAKE VILLAGE, CA 1,263,0611.3m $57.9m $57.9m 1.75% Added +128.1k +128,141
8 FIRST TRUST ADVISORS LP 0.04% of their portfolio Wheaton, IL 1,101,4591.1m $50.5m $50.5m 0.04% Reduced -52.2k -52,233
9 UBS Group AG 0.01% of their portfolio ZURICH, V8 815,183815.2k $37.4m $37.4m 0.01% Added +31.9k +31,935
10 Flaharty Asset Management, LLC 4.49% of their portfolio CLEARWATER, FL 783,751783.8k $36.0m $36.0m 4.49% Added +25.4k +25,407
11 Welch & Forbes LLC 0.39% of their portfolio Boston, MA 696,962697.0k $32.0m $32.0m 0.39% Added +18.8k +18,753
12 Virtue Capital Management, LLC 4.87% of their portfolio BRENTWOOD, TN 688,784688.8k $31.6m $31.6m 4.87% Added +671.1k +671,080
13 Focus Partners Wealth 0.03% of their portfolio ST LOUIS, MO 650,182650.2k $29.8m $29.8m 0.03% New
14 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 612,700612.7k $28.1m $28.1m 0.01% Reduced -7.9k -7,863
15 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 578,982579.0k $26.6m $26.6m 0.04% Reduced -15.7k -15,740
16 Hikari Tsushin, Inc. 1.70% of their portfolio TOKYO, M0 570,196570.2k $26.2m $26.2m 1.70% Unchanged
17 TL Private Wealth 9.48% of their portfolio SOUTHLAKE, TX 534,764534.8k $24.6m $24.6m 9.48% Added +18.5k +18,521
18 Capital Investment Counsel, LLC 2.86% of their portfolio DENVER, CO 448,171448.2k $20.6m $20.6m 2.86% Added +37.4k +37,404
19 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 437,181437.2k $20.1m $20.1m 0.02% Added +108.2k +108,169
20 Cyndeo Wealth Partners, LLC 1.00% of their portfolio ST. PETERSBURG, FL 403,906403.9k $18.5m $18.5m 1.00% Added +12.4k +12,423
21 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 394,355394.4k $18.1m $18.1m 0.02% Reduced -37.6k -37,562
22 Cambridge Investment Research Advisors, Inc. 0.04% of their portfolio FAIRFIELD, IA 327,713327.7k $15.0m $15.0m 0.04% Reduced -4.3k -4,334
23 HARBOR ADVISORY CORP /MA/ 4.53% of their portfolio PORTSMOUTH, NH 326,213326.2k $15.0m $15.0m 4.53% Added +17.2k +17,250
24 Concurrent Investment Advisors, LLC 0.16% of their portfolio Tampa, FL 313,785313.8k $14.4m $14.4m 0.16% Added +293.8k +293,847
25 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 313,750313.8k $14.4m $14.4m 0.00% Reduced -4.4k -4,426
26 CWM, LLC 0.04% of their portfolio OMAHA, NE 312,161312.2k $14.3m $14.3m 0.04% Added +23.2k +23,177
27 Fairvoy Private Wealth, LLC 3.18% of their portfolio BIRMINGHAM, AL 309,472309.5k $14.2m $14.2m 3.18% Added +1.1k +1,053
28 NewEdge Advisors, LLC 0.05% of their portfolio NEW ORLEANS, LA 307,637307.6k $14.1m $14.1m 0.05% Added +15.8k +15,849
29 Private Advisor Group, LLC 0.06% of their portfolio MORRISTOWN, NJ 271,259271.3k $12.4m $12.4m 0.06% Added +52.5k +52,480
30 CNO Financial Group, Inc. 6.55% of their portfolio Carmel, IN 252,000252.0k $11.6m $11.6m 6.55% Added +100.0k +100,000
31 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 244,320244.3k $11.2m $11.2m 0.02% Added +5.9k +5,864
32 Ocean Park Asset Management, LLC 0.50% of their portfolio SANTA MONICA, CA 231,800231.8k $10.6m $10.6m 0.50% Unchanged
33 Clear Creek Financial Management, LLC 0.79% of their portfolio SILVERDALE, WA 211,871211.9k $9.7m $9.7m 0.79% Added +4.4k +4,377
34 EXCHANGE TRADED CONCEPTS, LLC 0.08% of their portfolio Oklahoma City, OK 198,306198.3k $9.1m $9.1m 0.08% Added +10.7k +10,742
35 Nilsine Partners, LLC 0.77% of their portfolio GREENWOOD VILLAGE, CO 193,804193.8k $8.9m $8.9m 0.77% Added +11.5k +11,541
36 RiverTree Advisors, LLC 5.30% of their portfolio WINTER PARK, FL 181,110181.1k $8.3m $8.3m 5.30% Reduced -3.3k -3,326
37 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 0.15% of their portfolio Seattle, WA 178,471178.5k $8.2m $8.2m 0.15% Added +5.8k +5,826
38 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 174,200174.2k $8.0m $8.0m 0.01% Reduced -5.4k -5,425
39 DAVENPORT & Co LLC 0.04% of their portfolio RICHMOND, VA 169,784169.8k $7.8m $7.8m 0.04% Added +18.9k +18,911
40 Blackhawk Capital Partners, LLC 2.81% of their portfolio THIENSVILLE, WI 163,210163.2k $7.5m $7.5m 2.81% Added +50.8k +50,783
41 CacheTech Inc. 1.37% of their portfolio LOGAN, UT 161,723161.7k $7.4m $7.4m 1.37% Added +12.6k +12,554
42 RPg Family Wealth Advisory, LLC 1.61% of their portfolio BURLINGTON, MA 160,036160.0k $7.3m $7.3m 1.61% Reduced -1.5k -1,526
43 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.39% of their portfolio CEDAR RAPIDS, IA 159,889159.9k $7.3m $7.3m 0.39% Added +12.4k +12,394
44 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 157,634157.6k $7.2m $7.2m 0.00% Added +31.7k +31,707
45 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 156,649156.6k $7.2m $7.2m 0.02% Added +14.5k +14,451
46 LAKE STREET PRIVATE WEALTH, LLC 0.87% of their portfolio CHICAGO, IL 155,424155.4k $7.1m $7.1m 0.87% Added +4.5k +4,536
47 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 155,368155.4k $7.1m $7.1m 0.01% Added +14.0k +13,987
48 Chicago Partners Investment Group LLC 0.16% of their portfolio CHICAGO, IL 138,333138.3k $6.3m $6.3m 0.16% Reduced -11.1k -11,125
49 Mission Hills Financial Advisory, LLC 3.26% of their portfolio SAN DIEGO, CA 134,381134.4k $6.2m $6.2m 3.26% Added +2.6k +2,592
50 HARBOUR INVESTMENTS, INC. 0.12% of their portfolio MADISON, WI 134,324134.3k $6.2m $6.2m 0.12% Added +4.9k +4,897
51 Fairway Financial, LLC 4.49% of their portfolio CASSELBERRY, FL 129,631129.6k $5.9m $5.9m 4.49% Added +6.7k +6,675
52 Adams Wealth Management 1.24% of their portfolio LOGAN, UT 126,980127.0k $5.8m $5.8m 1.24% Reduced -17.5k -17,489
53 Asset Allocation & Management Company, LLC 2.32% of their portfolio CHICAGO, IL 126,840126.8k $5.8m $5.8m 2.32% Unchanged
54 Petix & Botte Co 1.29% of their portfolio LA MESA, CA 124,115124.1k $5.7m $5.7m 1.29% Added +18.6k +18,574
55 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 122,646122.6k $5.6m $5.6m 0.01% Added +28.5k +28,477
56 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 117,698117.7k $5.4m $5.4m 0.02% Added +4.2k +4,154
57 Prospera Financial Services Inc 0.09% of their portfolio Dallas, TX 117,515117.5k $5.4m $5.4m 0.09% Added +2.2k +2,228
58 U.S. Capital Wealth Advisors, LLC 0.14% of their portfolio AUSTIN, TX 116,864116.9k $5.4m $5.4m 0.14% Reduced -7.5k -7,537
59 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 115,367115.4k $5.3m $5.3m 0.01% Added +9.1k +9,081
60 Little Harbor Advisors, LLC 2.68% of their portfolio MARBLEHEAD, MA 113,261113.3k $5.2m $5.2m 2.68% Reduced -11.3k -11,275
61 Brookstone Capital Management 0.06% of their portfolio WHEATON, IL 109,376109.4k $5.0m $5.0m 0.06% Reduced -3.4k -3,359
62 TrueWealth Advisors, LLC 1.15% of their portfolio BIRMINGHAM, AL 96,95997.0k $4.4m $4.4m 1.15% Reduced -46.8k -46,796
63 Kovack Advisors, Inc. 0.21% of their portfolio FT. LAUDERDALE, FL 96,18296.2k $4.4m $4.4m 0.21% Added +6.8k +6,814
64 SACKS & ASSOCIATES, LLC 3.18% of their portfolio WARREN, NJ 94,52394.5k $4.3m $4.3m 3.18% First filing
65 WMS Group LLC 5.31% of their portfolio FOLSOM, LA 90,98591.0k $4.2m $4.2m 5.31% First filing
66 OneDigital Investment Advisors LLC 0.04% of their portfolio OVERLAND PARK, KS 90,81690.8k $4.2m $4.2m 0.04% Reduced -3.2k -3,233
67 PCG Wealth Advisors, LLC 1.12% of their portfolio OVERLAND PARK, KS 86,28286.3k $4.0m $4.0m 1.12% Added +2.8k +2,783
68 Aurora Private Wealth, Inc. 2.57% of their portfolio ROCKAWAY, NJ 85,27185.3k $3.9m $3.9m 2.57% First filing
69 TRUSTMARK BANK TRUST DEPARTMENT 0.25% of their portfolio JACKSON, MS 85,00085.0k $3.9m $3.9m 0.25% Unchanged
70 New England Private Wealth Advisors LLC 0.49% of their portfolio WELLESLEY, MA 84,94884.9k $3.9m $3.9m 0.49% Added +1.3k +1,329
71 Harvest Investment Services, LLC 0.73% of their portfolio Oakbrook Terrace, IL 84,17784.2k $3.9m $3.9m 0.73% Reduced -2.2k -2,244
72 THRYVE WEALTH MANAGEMENT LLC 1.90% of their portfolio IRVING, TX 83,52383.5k $3.8m $3.8m 1.90% First filing
73 Fifth Third Securities, Inc. 0.25% of their portfolio Cincinnati, OH 83,51083.5k $3.8m $3.8m 0.25% Added +5.3k +5,285
74 Huntleigh Advisors, Inc. 0.65% of their portfolio ST. LOUIS, MO 83,48783.5k $3.8m $3.8m 0.65% Added +11.6k +11,600
75 EXENCIAL WEALTH ADVISORS, LLC 0.12% of their portfolio OKLAHOMA CITY, OK 81,35081.3k $3.7m $3.7m 0.12% Reduced -15.0k -15,047
76 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 77,88477.9k $3.6m $3.6m 0.02% Reduced -85.9k -85,880
77 Colorado Capital Management, Inc. 1.33% of their portfolio BOULDER, CO 77,49077.5k $3.6m $3.6m 1.33% Added +850 +850
78 Snowden Capital Advisors LLC 0.09% of their portfolio New York, NY 76,54076.5k $3.5m $3.5m 0.09% Added +9.0k +8,982
79 Oder Investment Management, LLC 2.54% of their portfolio WOODLAND HILLS, CA 76,37376.4k $3.5m $3.5m 2.54% Reduced -4.9k -4,914
80 Kingsview Wealth Management, LLC 0.05% of their portfolio GRANTS PASS, OR 75,02375.0k $3.4m $3.4m 0.05% Reduced -11 -11
81 Aspen Investment Management Inc 1.03% of their portfolio GRAND RAPIDS, MI 74,34674.3k $3.4m $3.4m 1.03% Reduced -9.4k -9,409
82 Gladstone Institutional Advisory LLC 0.12% of their portfolio Bedminster, NJ 68,94668.9k $3.2m $3.2m 0.12% Added +13.1k +13,140
83 Private Advisory Group LLC 0.25% of their portfolio REDMOND, WA 68,85168.9k $3.2m $3.2m 0.25% Added +3.7k +3,701
84 FLAGSTAR SECURITIES, INC 1.01% of their portfolio New York, NY 65,66665.7k $3.0m $3.0m 1.01% Added +605 +605
85 Trinity Legacy Partners, LLC 0.68% of their portfolio HOUSTON, TX 64,86264.9k $3.0m $3.0m 0.68% Reduced -4.7k -4,716
86 D.A. DAVIDSON & CO. 0.02% of their portfolio GREAT FALLS, MT 63,89263.9k $2.9m $2.9m 0.02% Reduced -24.8k -24,812
87 Mariner, LLC 0.00% of their portfolio Overland Park, KS 63,76663.8k $2.9m $2.9m 0.00% Added +8.3k +8,297
88 &PARTNERS 0.01% of their portfolio NASHVILLE, TN 61,57661.6k $2.8m $2.8m 0.01% Added +46.0k +46,017
89 SageView Advisory Group, LLC 0.09% of their portfolio Newport Beach, CA 60,49860.5k $2.8m $2.8m 0.09% Reduced -1.2k -1,243
90 GRIMES & Co WEALTH MANAGEMENT, LLC 0.07% of their portfolio WESTBOROUGH, MA 60,45560.5k $2.8m $2.8m 0.07% New
91 Integrated Advisors Network LLC 0.12% of their portfolio DALLAS, TX 60,32060.3k $2.8m $2.8m 0.12% Reduced -9.2k -9,185
92 Key Client Fiduciary Advisors, LLC 0.91% of their portfolio Fairfield, NJ 57,01557.0k $2.6m $2.6m 0.91% Added +14.0k +14,042
93 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 56,80856.8k $2.6m $2.6m 0.00% Reduced -61.4k -61,354
94 RFG Advisory, LLC 0.05% of their portfolio BIRMINGHAM, AL 56,22656.2k $2.6m $2.6m 0.05% Reduced -2.4k -2,422
95 TrueWealth Financial Partners 2.10% of their portfolio BELLEVUE, WA 55,35855.4k $2.5m $2.5m 2.10% New
96 True Blue Financial, LLC 2.10% of their portfolio STEVENSVILLE, MI 55,35855.4k $2.5m $2.5m 2.10% First filing
97 Sowell Financial Services LLC 0.09% of their portfolio NORTH LITTLE ROCK, AR 55,21755.2k $2.5m $2.5m 0.09% Reduced -1.9k -1,926
98 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 54,17654.2k $2.5m $2.5m 0.02% Reduced -1.1k -1,061
99 First Financial Group Corp 2.11% of their portfolio RALEIGH, NC 54,03854.0k $2.5m $2.5m 2.11% Added +964 +964
100 OneAscent Wealth Management LLC 0.81% of their portfolio BIRMINGHAM, AL 53,20553.2k $2.4m $2.4m 0.81% Added +2.3k +2,295