Vault-13

FIRST TR EXCH TRADED FD III FMB

MANAGD MUN ETF · ETP · CUSIP 33739N108

307 institutional holders +25 vs Q3 2025
29,324,18629.3m shares reported held*
$1.5bnreported value*
32 new 108 added 117 reduced 19 sold out net bought ≈ $26.3m (+514.2k 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 ($2.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $51.13.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 287Q4 22: 276Q1 23: 273Q2 23: 277Q3 23: 275Q4 23: 299Q1 24: 297Q2 24: 300Q3 24: 304Q4 24: 312Q1 25: 306Q2 25: 299Q3 25: 282Q4 25: 307307Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022287
Q4 2022276
Q1 2023273
Q2 2023277
Q3 2023275
Q4 2023299
Q1 2024297
Q2 2024300
Q3 2024304
Q4 2024312
Q1 2025306
Q2 2025299
Q3 2025282
Q4 2025307

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 146 bought or addedQ1 24: 134 cut or sold outQ2 24: 134 bought or addedQ2 24: 148 cut or sold outQ2 24Q3 24: 152 bought or addedQ3 24: 135 cut or sold outQ4 24: 151 bought or addedQ4 24: 134 cut or sold outQ4 24Q1 25: 139 bought or addedQ1 25: 156 cut or sold outQ2 25: 129 bought or addedQ2 25: 162 cut or sold outQ2 25Q3 25: 126 bought or addedQ3 25: 145 cut or sold outQ4 25: 140 bought or addedQ4 25: 136 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024146134
Q2 2024134148
Q3 2024152135
Q4 2024151134
Q1 2025139156
Q2 2025129162
Q3 2025126145
Q4 2025140136

Biggest buyers

TrueWealth Financial Partners New +248,749+248.7k
LPL Financial LLC Added +181,458+181.5k
JANE STREET GROUP, LLC Added +153,443+153.4k
HighPoint Advisor Group LLC New +150,169+150.2k
Composition Wealth, LLC Added +92,945+92.9k
BANK OF AMERICA CORP /DE/ Added +82,590+82.6k
NewEdge Advisors, LLC Added +70,160+70.2k
Arax Advisory Partners New +66,383+66.4k
JONES FINANCIAL COMPANIES LLLP Added +49,492+49.5k
Janney Montgomery Scott LLC Added +46,980+47.0k

Biggest sellers

Focus Partners Advisor Solutions, LLC Sold out -129,800-129.8k
WELLS FARGO & COMPANY/MN Reduced -116,075-116.1k
JPMORGAN CHASE & CO Reduced -103,540-103.5k
ROYAL BANK OF CANADA Reduced -98,398-98.4k
Sanctuary Advisors, LLC Reduced -92,785-92.8k
RMR Wealth Builders Reduced -66,572-66.6k
OSAIC HOLDINGS, INC. Reduced -57,946-57.9k
Uniting Wealth Partners, LLC Sold out -53,911-53.9k
ARKANSAS FINANCIAL GROUP, INC. Reduced -48,709-48.7k
CWA Asset Management Group, LLC Reduced -45,786-45.8k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 2,945,5402.9m $150.6m $150.6m 0.01% Reduced -20.2k -20,235
2 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 2,398,6982.4m $122.7m $122.7m 0.02% Reduced -116.1k -116,075
3 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 2,308,5252.3m $118.0m $118.0m 0.03% Added +181.5k +181,458
4 UBS Group AG 0.02% of their portfolio ZURICH, V8 1,836,9681.8m $93.9m $93.9m 0.02% Added +38.6k +38,553
5 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,824,8391.8m $93.3m $93.3m 0.01% Added +82.6k +82,590
6 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 1,190,7131.2m $60.9m $60.9m 0.02% Added +43.5k +43,522
7 Composition Wealth, LLC 0.85% of their portfolio LOS ANGELES, CA 1,163,0451.2m $59.5m $59.5m 0.85% Added +92.9k +92,945
8 Avantax Planning Partners, Inc. 1.22% of their portfolio DUBUQUE, IA 854,387854.4k $43.7m $43.7m 1.22% Reduced -45.6k -45,562
9 OSAIC HOLDINGS, INC. 0.06% of their portfolio SCOTTSDALE, AZ 798,348798.3k $40.8m $40.8m 0.06% Reduced -57.9k -57,946
10 OneDigital Investment Advisors LLC 0.29% of their portfolio OVERLAND PARK, KS 578,623578.6k $29.6m $29.6m 0.29% Added +20.2k +20,205
11 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 460,542460.5k $23.6m $23.6m 0.00% Reduced -98.4k -98,398
12 Janney Montgomery Scott LLC 0.05% of their portfolio PHILADELPHIA, PA 420,652420.7k $21.5m $21.5m 0.05% Added +47.0k +46,980
13 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 411,226411.2k $21.0m $21.0m 0.03% Reduced -8.1k -8,133
14 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 409,517409.5k $20.9m $20.9m 0.02% Added +10.2k +10,248
15 NewEdge Advisors, LLC 0.08% of their portfolio NEW ORLEANS, LA 405,841405.8k $20.8m $20.8m 0.08% Added +70.2k +70,160
16 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 350,316350.3k $17.9m $17.9m 0.02% Reduced -30.0k -30,039
17 RMR Wealth Builders 1.29% of their portfolio Montclair, NJ 315,693315.7k $16.1m $16.1m 1.29% Reduced -66.6k -66,572
18 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 299,025299.0k $15.3m $15.3m 0.00% Reduced -12.9k -12,925
19 Frisch Financial Group, Inc. 3.40% of their portfolio MELVILLE, NY 296,387296.4k $15.2m $15.2m 3.40% Added +8.4k +8,374
20 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 295,844295.8k $15.1m $15.1m 0.03% Added +41.3k +41,346
21 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 289,924289.9k $14.8m $14.8m 0.01% Reduced -1.1k -1,056
22 TrueWealth Financial Partners 10.50% of their portfolio BELLEVUE, WA 248,749248.7k $12.7m $12.7m 10.50% New
23 True Blue Financial, LLC 10.47% of their portfolio STEVENSVILLE, MI 247,969248.0k $12.7m $12.7m 10.47% First filing
24 GM Advisory Group, LLC 0.49% of their portfolio MELVILLE, NY 244,899244.9k $12.5m $12.5m 0.49% Added +26.4k +26,407
25 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 227,740227.7k $11.6m $11.6m 0.03% Added +15.9k +15,935
26 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 210,930210.9k $10.8m $10.8m 0.01% Added +5.8k +5,765
27 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 200,002200.0k $10.2m $10.2m 0.01% Added +153.4k +153,443
28 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 187,567187.6k $9.6m $9.6m 0.01% Added +6.9k +6,920
29 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 186,168186.2k $9.5m $9.5m 0.00% Reduced -12.8k -12,840
30 MOTCO 0.86% of their portfolio SAN ANTONIO, TX 185,177185.2k $9.5m $9.5m 0.86% Added +3.4k +3,385
31 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 178,958179.0k $9.2m $9.2m 0.01% Added +49.5k +49,492
32 ERn Financial, LLC 1.53% of their portfolio MIDDLETON, WI 158,806158.8k $8.1m $8.1m 1.53% Added +9.2k +9,246
33 Sequoia Financial Advisors, LLC 0.04% of their portfolio Akron, OH 155,328155.3k $7.9m $7.9m 0.04% Reduced -7.7k -7,737
34 HighPoint Advisor Group LLC 0.17% of their portfolio DOWNERS GROVE, IL 150,169150.2k $7.7m $7.7m 0.17% New
35 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 147,602147.6k $7.5m $7.5m 0.01% Added +21.5k +21,540
36 Kestra Advisory Services, LLC 0.03% of their portfolio AUSTIN, TX 144,685144.7k $7.4m $7.4m 0.03% Reduced -14.0k -14,003
37 JOURNEY STRATEGIC WEALTH LLC 0.19% of their portfolio SUMMIT, NJ 141,073141.1k $7.2m $7.2m 0.19% Added +4.9k +4,918
38 CWA Asset Management Group, LLC 0.25% of their portfolio NAPLES, FL 133,812133.8k $6.8m $6.8m 0.25% Reduced -45.8k -45,786
39 CWM, LLC 0.02% of their portfolio OMAHA, NE 132,062132.1k $6.8m $6.8m 0.02% Added +5.0k +5,021
40 First Heartland Consultants, Inc. 0.50% of their portfolio LAKE ST. LOUIS, MO 130,249130.2k $6.7m $6.7m 0.50% Added +13.9k +13,878
41 BCGM Wealth Management, LLC 1.59% of their portfolio LAFAYETTE, IN 121,753121.8k $6.2m $6.2m 1.59% Reduced -2.5k -2,511
42 FOSTER & MOTLEY INC 0.30% of their portfolio CINCINNATI, OH 108,922108.9k $5.6m $5.6m 0.30% Added +27.3k +27,297
43 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 106,280106.3k $5.4m $5.4m 0.01% Added +29.8k +29,827
44 Sanctuary Advisors, LLC 0.03% of their portfolio INDIANAPOLIS, IN 103,742103.7k $5.3m $5.3m 0.03% Reduced -92.8k -92,785
45 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 102,380102.4k $5.2m $5.2m 0.02% Reduced -5.5k -5,529
46 Brady Martz Wealth Solutions, LLC 0.90% of their portfolio GRAND FORKS, ND 100,346100.3k $5.1m $5.1m 0.90% Reduced -10.6k -10,648
47 Summit Financial, LLC 0.07% of their portfolio PARSIPPANY, NJ 99,42899.4k $5.1m $5.1m 0.07% Added +1.4k +1,422
48 LAKE STREET PRIVATE WEALTH, LLC 0.56% of their portfolio CHICAGO, IL 90,20090.2k $4.6m $4.6m 0.56% Reduced -1.7k -1,700
49 COMERICA BANK 0.02% of their portfolio DALLAS, TX 89,57789.6k $4.6m $4.6m 0.02% Reduced -15.5k -15,498
50 MGO ONE SEVEN LLC 0.09% of their portfolio Beachwood, OH 86,36586.4k $4.4m $4.4m 0.09% Reduced -1.6k -1,647
51 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 86,33686.3k $4.4m $4.4m 0.00% Reduced -103.5k -103,540
52 Equitable Holdings, Inc. 0.03% of their portfolio NEW YORK, NY 84,55984.6k $4.3m $4.3m 0.03% Added +2.8k +2,755
53 Magnus Financial Group LLC 0.33% of their portfolio NEW YORK, NY 84,30684.3k $4.3m $4.3m 0.33% Added +2.6k +2,584
54 Allworth Financial LP 0.02% of their portfolio FOLSOM, CA 84,24484.2k $4.3m $4.3m 0.02% Reduced -5.6k -5,640
55 FSB PREMIER WEALTH MANAGEMENT, INC. 1.36% of their portfolio WATERLOO, IA 84,08584.1k $4.3m $4.3m 1.36% Reduced -4.7k -4,674
56 Etesian Wealth Advisors, Inc. 1.34% of their portfolio West Linn, OR 83,27483.3k $4.3m $4.3m 1.34% Added +1.9k +1,932
57 COUNTRY TRUST BANK 0.07% of their portfolio Bloomington, IL 79,26779.3k $4.1m $4.1m 0.07% Reduced -6.4k -6,361
58 Investment Planning Advisors, Inc. 1.12% of their portfolio CUMMING, GA 75,10675.1k $3.8m $3.8m 1.12% Added +7.8k +7,812
59 Blackhawk Capital Partners, LLC 1.43% of their portfolio THIENSVILLE, WI 74,55274.6k $3.8m $3.8m 1.43% Reduced -2.4k -2,389
60 Prestige Wealth Management Group LLC 0.72% of their portfolio FLEMINGTON, NJ 74,00674.0k $3.8m $3.8m 0.72% Reduced -12.8k -12,843
61 EdgeRock Capital LLC 0.99% of their portfolio DENVER, CO 72,60172.6k $3.7m $3.7m 0.99% Added +1.4k +1,359
62 Mariner, LLC 0.00% of their portfolio Overland Park, KS 68,70168.7k $3.5m $3.5m 0.00% Reduced -5.8k -5,790
63 Westside Investment Management, Inc. 0.56% of their portfolio SANTA MONICA, CA 68,25968.3k $3.5m $3.5m 0.56% Reduced -600 -600
64 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 66,40866.4k $3.4m $3.4m 0.00% Reduced -5.7k -5,700
65 Arax Advisory Partners 0.10% of their portfolio NEW YORK, NY 66,38366.4k $3.4m $3.4m 0.10% New
66 ARKANSAS FINANCIAL GROUP, INC. 0.48% of their portfolio LITTLE ROCK, AR 64,92664.9k $3.3m $3.3m 0.48% Reduced -48.7k -48,709
67 Advance Capital Management, Inc. 0.14% of their portfolio SOUTHFIELD, MI 64,67664.7k $3.3m $3.3m 0.14% Reduced -4.6k -4,613
68 Seascape Capital Management 0.93% of their portfolio PORTSMOUTH, NH 64,25064.2k $3.3m $3.3m 0.93% Added +17.0k +17,000
69 Per Stirling Capital Management, LLC. 0.37% of their portfolio AUSTIN, TX 63,73763.7k $3.3m $3.3m 0.37% Added +21.5k +21,541
70 Mutual Advisors, LLC 0.07% of their portfolio OMAHA, NE 60,89760.9k $3.1m $3.1m 0.07% Added +26.2k +26,163
71 Landmark Wealth Management, LLC 1.12% of their portfolio MELVILLE, NY 57,10557.1k $2.9m $2.9m 1.12% Added +443 +443
72 INSPIRION WEALTH ADVISORS, LLC 0.35% of their portfolio LIBERTYVILLE, IL 56,45856.5k $2.9m $2.9m 0.35% Reduced -5.8k -5,765
73 WealthCare Investment Partners, LLC 0.84% of their portfolio PORTSMOUTH, RI 56,43756.4k $2.9m $2.9m 0.84% Added +2.7k +2,660
74 CAPITAL FINANCIAL GROUP INC\CO\ /ADV 1.60% of their portfolio LITTLETON, CO 55,95056.0k $2.9m $2.9m 1.60% First filing
75 Clearwater Capital Advisors, LLC 0.24% of their portfolio HOFFMAN ESTATES, IL 55,25055.2k $2.8m $2.8m 0.24% Reduced -791 -791
76 Prospera Financial Services Inc 0.05% of their portfolio Dallas, TX 54,00654.0k $2.8m $2.8m 0.05% Reduced -2.8k -2,806
77 SENTINEL PENSION ADVISORS, LLC 0.42% of their portfolio WAKEFIELD, MA 53,94453.9k $2.8m $2.8m 0.42% Added +472 +472
78 Golden State Wealth Management, LLC 0.28% of their portfolio SANTA ANA, CA 51,34351.3k $2.6m $2.6m 0.28% Added +20 +20
79 ABLE Financial Group, LLC 0.52% of their portfolio SCOTTSDALE, AZ 50,14750.1k $2.6m $2.6m 0.52% Added +2.6k +2,569
80 Gateway Wealth Partners, LLC 0.28% of their portfolio APPLETON, WI 49,37949.4k $2.5m $2.5m 0.28% Added +1.9k +1,937
81 Pine Valley Investments Ltd Liability Co 0.12% of their portfolio MARLTON, NJ 48,65048.6k $2.5m $2.5m 0.12% Reduced -2.9k -2,866
82 Waverly Advisors, LLC 0.02% of their portfolio BIRMINGHAM, AL 47,05247.1k $2.4m $2.4m 0.02% Reduced -7.9k -7,868
83 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 41,96542.0k $2.1m $2.1m 0.00% Added +24.6k +24,579
84 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 41,60841.6k $2.1m $2.1m 0.00% Reduced -11.1k -11,064
85 Western Wealth Management, LLC 0.09% of their portfolio GOLDEN, CO 40,04640.0k $2.0m $2.0m 0.09% Reduced -1.1k -1,110
86 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 39,97840.0k $2.0m $2.0m 0.00% Added +7.4k +7,403
87 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 39,75239.8k $2.0m $2.0m 0.01% Added +5.8k +5,810
88 SteelPeak Wealth, LLC 0.07% of their portfolio WOODLAND HILLS, CA 39,46939.5k $2.0m $2.0m 0.07% Reduced -838 -838
89 Keystone Financial Group 0.14% of their portfolio LEXINGTON, KY 37,98438.0k $1.9m $1.9m 0.14% Reduced -2.0k -1,991
90 Weitzel Financial Services, Inc. 0.75% of their portfolio DUBUQUE, IA 37,64837.6k $1.9m $1.9m 0.75% Added +606 +606
91 PRINCIPAL SECURITIES, INC. 0.03% of their portfolio DES MOINES, IA 36,82236.8k $1.9m $1.9m 0.03% Added +5.5k +5,505
92 Heck Capital Advisors, LLC 0.14% of their portfolio Rhinelander, WI 36,71036.7k $1.9m $1.9m 0.14% Reduced -2.4k -2,366
93 Ashton Thomas Private Wealth, LLC 0.05% of their portfolio SCOTTSDALE, AZ 36,53336.5k $1.9m $1.9m 0.05% Added +17.9k +17,929
94 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 35,77235.8k $1.8m $1.8m 0.01% Added +5.4k +5,402
95 HFG Wealth Management, LLC 1.00% of their portfolio The Woodlands, TX 35,33035.3k $1.8m $1.8m 1.00% Reduced -9.9k -9,907
96 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 35,15535.2k $1.8m $1.8m 0.01% Reduced -13.3k -13,297
97 Dynamic Advisor Solutions LLC 0.05% of their portfolio PHOENIX, AZ 33,33133.3k $1.7m $1.7m 0.05% Added +363 +363
98 Ausdal Financial Partners, Inc. 0.08% of their portfolio Davenport, IA 33,19833.2k $1.7m $1.7m 0.08% Added +105 +105
99 Sigma Planning Corp 0.05% of their portfolio ANN ARBOR, MI 32,17632.2k $1.6m $1.6m 0.05% Reduced -2.8k -2,795
100 Friday Financial 0.57% of their portfolio DUBUQUE, IA 31,42931.4k $1.6m $1.6m 0.57% Added +16.6k +16,555