Vault-13

FIRST TR EXCH TRADED FD III FMHI

MUNI HI INCM ETF · ETP · CUSIP 33739P301

178 institutional holders +11 vs Q3 2025
13,551,74613.6m shares reported held*
$649.1mreported value*
20 new 79 added 52 reduced 9 sold out net bought ≈ $50.4m (+1.1m 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 ($1.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $47.90.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 102Q4 22: 105Q1 23: 114Q2 23: 119Q3 23: 122Q4 23: 143Q1 24: 134Q2 24: 154Q3 24: 159Q4 24: 177Q1 25: 172Q2 25: 178Q3 25: 167Q4 25: 178178Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022102
Q4 2022105
Q1 2023114
Q2 2023119
Q3 2023122
Q4 2023143
Q1 2024134
Q2 2024154
Q3 2024159
Q4 2024177
Q1 2025172
Q2 2025178
Q3 2025167
Q4 2025178

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 77 bought or addedQ1 24: 56 cut or sold outQ2 24: 90 bought or addedQ2 24: 46 cut or sold outQ2 24Q3 24: 96 bought or addedQ3 24: 51 cut or sold outQ4 24: 107 bought or addedQ4 24: 52 cut or sold outQ4 24Q1 25: 82 bought or addedQ1 25: 73 cut or sold outQ2 25: 75 bought or addedQ2 25: 87 cut or sold outQ2 25Q3 25: 87 bought or addedQ3 25: 74 cut or sold outQ4 25: 99 bought or addedQ4 25: 61 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20247756
Q2 20249046
Q3 20249651
Q4 202410752
Q1 20258273
Q2 20257587
Q3 20258774
Q4 20259961

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +281,753+281.8k
WELLS FARGO & COMPANY/MN Added +154,624+154.6k
LPL Financial LLC Added +129,684+129.7k
MORGAN STANLEY Added +117,314+117.3k
RAYMOND JAMES FINANCIAL INC Added +92,567+92.6k
Vise Technologies, Inc. Added +69,545+69.5k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +51,738+51.7k
INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC Added +50,930+50.9k
Meeder Advisory Services, Inc. Added +38,690+38.7k
NewEdge Advisors, LLC Added +34,571+34.6k

Biggest sellers

GREAT VALLEY ADVISOR GROUP, INC. Reduced -91,663-91.7k
Principle Wealth Partners LLC Reduced -57,225-57.2k
JPMORGAN CHASE & CO Reduced -54,543-54.5k
JANE STREET GROUP, LLC Sold out -45,622-45.6k
Visionary Wealth Advisors Sold out -26,359-26.4k
ROYAL BANK OF CANADA Reduced -25,769-25.8k
Platform Technology Partners Reduced -24,861-24.9k
Elequin Capital, LP Reduced -23,662-23.7k
Integrated Wealth Concepts LLC Reduced -18,434-18.4k
GSG Advisors LLC Reduced -15,920-15.9k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.10% of their portfolio PLYMOUTH, MN 1,604,4841.6m $77.0m $77.0m 0.10% Added +51.7k +51,738
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,321,7871.3m $63.4m $63.4m 0.00% Added +117.3k +117,314
3 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,167,7161.2m $56.0m $56.0m 0.02% Added +129.7k +129,684
4 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,145,7771.1m $54.9m $54.9m 0.01% Added +154.6k +154,624
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 645,750645.8k $31.0m $31.0m 0.00% Added +281.8k +281,753
6 Meeder Advisory Services, Inc. 1.00% of their portfolio DUBLIN, OH 488,345488.3k $23.4m $23.4m 1.00% Added +38.7k +38,690
7 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 410,996411.0k $19.7m $19.7m 0.01% Reduced -13.4k -13,430
8 UBS Group AG 0.00% of their portfolio ZURICH, V8 324,495324.5k $15.6m $15.6m 0.00% Added +30.4k +30,404
9 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 307,205307.2k $14.7m $14.7m 0.00% Added +92.6k +92,567
10 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 277,945277.9k $13.3m $13.3m 0.01% Added +33.2k +33,152
11 SlateStone Wealth, LLC 1.08% of their portfolio JUPITER, FL 269,208269.2k $12.9m $12.9m 1.08% Added +24.9k +24,889
12 NewEdge Advisors, LLC 0.04% of their portfolio NEW ORLEANS, LA 252,733252.7k $12.1m $12.1m 0.04% Added +34.6k +34,571
13 Principle Wealth Partners LLC 0.62% of their portfolio MADISON, CT 230,094230.1k $11.0m $11.0m 0.62% Reduced -57.2k -57,225
14 Financial Partners Group, Inc 1.26% of their portfolio Overland Park, KS 227,133227.1k $10.9m $10.9m 1.26% Added +28.9k +28,880
15 Manhattan West Asset Management, LLC 2.08% of their portfolio Los Angeles, CA 212,202212.2k $10.2m $10.2m 2.08% Reduced -2.4k -2,359
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 186,949186.9k $9.0m $9.0m 0.00% Reduced -54.5k -54,543
17 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 181,418181.4k $8.7m $8.7m 0.01% Added +26.3k +26,291
18 EnRich Financial Partners LLC 2.31% of their portfolio MADISON, WI 176,821176.8k $8.5m $8.5m 2.31% Added +1.9k +1,871
19 ASHTON THOMAS SECURITIES, LLC 1.25% of their portfolio ROCHESTER, NY 136,878136.9k $6.6m $6.6m 1.25% Reduced -4.0k -3,967
20 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 133,827133.8k $6.4m $6.4m 0.00% Reduced -25.8k -25,769
21 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 129,117129.1k $6.2m $6.2m 0.01% Added +8.1k +8,073
22 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 128,294128.3k $6.1m $6.1m 0.01% Added +3.2k +3,153
23 Vise Technologies, Inc. 0.11% of their portfolio NEW YORK, NY 116,797116.8k $5.6m $5.6m 0.11% Added +69.5k +69,545
24 Ocean Park Asset Management, LLC 0.26% of their portfolio SANTA MONICA, CA 116,300116.3k $5.6m $5.6m 0.26% Unchanged
25 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 113,120113.1k $5.4m $5.4m 0.01% Added +11.6k +11,629
26 CWM, LLC 0.01% of their portfolio OMAHA, NE 110,529110.5k $5.3m $5.3m 0.01% Reduced -1.9k -1,919
27 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 109,327109.3k $5.2m $5.2m 0.01% Added +25.4k +25,368
28 Cyndeo Wealth Partners, LLC 0.24% of their portfolio ST. PETERSBURG, FL 92,00092.0k $4.4m $4.4m 0.24% Reduced -1.0k -1,046
29 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 86,56986.6k $4.1m $4.1m 0.02% Added +4.2k +4,221
30 Plan Group Financial, LLC 1.03% of their portfolio OKLAHOMA CITY, OK 82,51682.5k $4.0m $4.0m 1.03% Added +22.4k +22,433
31 Stewardship Advisors, LLC 0.91% of their portfolio MOUNT JOY, PA 81,74481.7k $3.9m $3.9m 0.91% Added +4.9k +4,896
32 Cornerstone Wealth Management, LLC 0.20% of their portfolio ST. PETERS, MO 81,03281.0k $3.9m $3.9m 0.20% Added +900 +900
33 Summit Financial, LLC 0.06% of their portfolio PARSIPPANY, NJ 80,32080.3k $3.9m $3.9m 0.06% Added +7.1k +7,129
34 Equitable Holdings, Inc. 0.03% of their portfolio NEW YORK, NY 78,82478.8k $3.8m $3.8m 0.03% Reduced -1.5k -1,483
35 Crumly & Associates Inc. 0.78% of their portfolio SPRINGFIELD, IL 77,85477.9k $3.7m $3.7m 0.78% Reduced -1.6k -1,593
36 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 75,93975.9k $3.6m $3.6m 0.00% Added +4.8k +4,751
37 MBL Wealth, LLC 0.29% of their portfolio CHARLOTTE, NC 74,47074.5k $3.6m $3.6m 0.29% Added +790 +790
38 Atlas Private Wealth Advisors 0.71% of their portfolio RED BANK, NJ 63,71163.7k $3.1m $3.1m 0.71% Added +564 +564
39 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.20% of their portfolio ORLANDO, FL 61,08761.1k $2.9m $2.9m 0.20% Added +50.9k +50,930
40 AJ Advisors, LLC 1.07% of their portfolio NASHVILLE, TN 60,42960.4k $2.9m $2.9m 1.07% Added +4.3k +4,327
41 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 58,17758.2k $2.8m $2.8m 0.00% Added +552 +552
42 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 57,47957.5k $2.8m $2.8m 0.00% Reduced -9.8k -9,812
43 Sequoia Financial Advisors, LLC 0.02% of their portfolio Akron, OH 56,58656.6k $2.7m $2.7m 0.02% Reduced -3.7k -3,715
44 DAYMARK WEALTH PARTNERS, LLC 0.08% of their portfolio CINCINNATI, OH 50,52550.5k $2.4m $2.4m 0.08% Added +4.6k +4,558
45 ShoreHaven Wealth Partners, LLC 0.86% of their portfolio Red Bank, NJ 49,86049.9k $2.4m $2.4m 0.86% Added +4.3k +4,319
46 FIRST HORIZON CORP 0.11% of their portfolio MEMPHIS, TN 49,50049.5k $2.4m $2.4m 0.11% Unchanged
47 OPPENHEIMER & CO INC 0.03% of their portfolio NEW YORK, NY 48,51748.5k $2.3m $2.3m 0.03% Added +21.7k +21,741
48 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 46,92846.9k $2.2m $2.2m 0.01% Added +3.0k +3,035
49 STEPHENS INC /AR/ 0.03% of their portfolio LITTLE ROCK, AR 45,73845.7k $2.2m $2.2m 0.03% Reduced -14.9k -14,891
50 KESTRA PRIVATE WEALTH SERVICES, LLC 0.03% of their portfolio AUSTIN, TX 43,95644.0k $2.1m $2.1m 0.03% Added +14.2k +14,231
51 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 41,83341.8k $2.0m $2.0m 0.00% Reduced -1.2k -1,189
52 CAPITAL FINANCIAL GROUP INC\CO\ /ADV 1.06% of their portfolio LITTLETON, CO 39,47439.5k $1.9m $1.9m 1.06% First filing
53 Evergreen Private Wealth LLC 0.72% of their portfolio GREENWOOD VILLAGE, CO 37,91237.9k $1.8m $1.8m 0.72% Added +3.0k +3,024
54 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 37,71637.7k $1.8m $1.8m 0.00% Added +5.7k +5,689
55 ROCKLAND TRUST CO 0.07% of their portfolio HANOVER, MA 36,99237.0k $1.8m $1.8m 0.07% Unchanged
56 Mutual Advisors, LLC 0.04% of their portfolio OMAHA, NE 36,59936.6k $1.8m $1.8m 0.04% Reduced -922 -922
57 Synergy Investment Management, LLC 0.62% of their portfolio ALTAMONTE SPRINGS, FL 36,32036.3k $1.7m $1.7m 0.62% Added +8.3k +8,345
58 RFG Advisory, LLC 0.03% of their portfolio BIRMINGHAM, AL 34,59934.6k $1.7m $1.7m 0.03% Added +24.6k +24,615
59 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 31,68931.7k $1.5m $1.5m 0.03% Reduced -1.9k -1,913
60 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 30,89330.9k $1.5m $1.5m 0.00% Added +6.0k +6,016
61 Integrated Wealth Concepts LLC 0.02% of their portfolio WALTHAM, MA 30,74530.7k $1.5m $1.5m 0.02% Reduced -18.4k -18,434
62 Sowell Financial Services LLC 0.05% of their portfolio NORTH LITTLE ROCK, AR 27,93027.9k $1.3m $1.3m 0.05% Added +192 +192
63 Arax Advisory Partners 0.04% of their portfolio NEW YORK, NY 27,49427.5k $1.3m $1.3m 0.04% New
64 Vestmark Advisory Solutions, Inc. 0.02% of their portfolio Wakefield, MA 27,28427.3k $1.3m $1.3m 0.02% Added +4.9k +4,870
65 ELEVATION POINT WEALTH PARTNERS, LLC 0.06% of their portfolio DENVER, CO 27,28427.3k $1.3m $1.3m 0.06% Reduced -1.1k -1,060
66 GSG Advisors LLC 0.34% of their portfolio MOUNT LAUREL, NJ 27,16327.2k $1.3m $1.3m 0.34% Reduced -15.9k -15,920
67 Main Street Financial Solutions, LLC 0.09% of their portfolio NEWTOWN, PA 25,96526.0k $1.2m $1.2m 0.09% Added +3.6k +3,619
68 Boyce & Associates Wealth Consulting, Inc. 0.94% of their portfolio CEDAR PARK, TX 23,50223.5k $1.1m $1.1m 0.94% Reduced -122 -122
69 Triton Wealth Management, PLLC 0.42% of their portfolio SUN CITY, AZ 23,42823.4k $1.1m $1.1m 0.42% Reduced -391 -391
70 GREAT VALLEY ADVISOR GROUP, INC. 0.02% of their portfolio WILMINGTON, DE 23,01823.0k $1.1m $1.1m 0.02% Reduced -91.7k -91,663
71 High Net Worth Advisory Group LLC 0.25% of their portfolio NAPLES, FL 22,31222.3k $1.1m $1.1m 0.25% Added +83 +83
72 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 21,42021.4k $1.0m $1.0m 0.01% Reduced -10.5k -10,520
73 Traction Financial Partners, LLC 0.58% of their portfolio LITTLETON, CO 20,46520.5k $981.0k $981.0k 0.58% Reduced -504 -504
74 COMERICA BANK 0.00% of their portfolio DALLAS, TX 19,34119.3k $927.1k $927.1k 0.00% Reduced -930 -930
75 Platform Technology Partners 0.19% of their portfolio NEW YORK, NY 19,06019.1k $913.6k $913.6k 0.19% Reduced -24.9k -24,861
76 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.05% of their portfolio CEDAR RAPIDS, IA 18,86018.9k $904.0k $904.0k 0.05% Added +575 +575
77 Concurrent Investment Advisors, LLC 0.01% of their portfolio Tampa, FL 18,74718.7k $898.6k $898.6k 0.01% Added +4.4k +4,372
78 Hobart Private Capital, LLC 0.17% of their portfolio CHARLOTTE, NC 18,38018.4k $881.0k $881.0k 0.17% Unchanged
79 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 18,35118.4k $879.6k $879.6k 0.00% New
80 HARBOUR INVESTMENTS, INC. 0.02% of their portfolio MADISON, WI 18,30518.3k $877.4k $877.4k 0.02% Added +5.6k +5,625
81 Curran Financial Partners, LLC 0.16% of their portfolio DANIEL ISLAND, SC 17,89517.9k $857.8k $857.8k 0.16% Added +2.5k +2,531
82 FLOW TRADERS U.S. LLC 0.03% of their portfolio NEW YORK, NY 17,59117.6k $843.0k $843.0k 0.03% New
83 IFG Advisory, LLC 0.04% of their portfolio ATLANTA, GA 17,52717.5k $840.1k $840.1k 0.04% Added +126 +126
84 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 17,14117.1k $821.6k $821.6k 0.00% New
85 Investors Portfolio Services LLC 0.74% of their portfolio PUYALLUP, WA 17,04417.0k $817.0k $817.0k 0.74% First filing
86 Capital Investment Advisory Services, LLC 0.06% of their portfolio RALEIGH, NC 16,79616.8k $805.1k $805.1k 0.06% Added +105 +105
87 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 16,44216.4k $788.1k $788.1k 0.00% Reduced -2.6k -2,551
88 ARBOR CAPITAL MANAGEMENT INC /ADV 0.66% of their portfolio ANCHORAGE, AK 16,35416.4k $785.8k $785.8k 0.66% Added +776 +776
89 Boyd Wealth Management, LLC 0.33% of their portfolio SACRAMENTO, CA 16,31816.3k $782.2k $782.2k 0.33% Added +31 +31
90 Milestones Private Investment Advisors LLC 0.52% of their portfolio FAIRPORT, NY 15,75115.8k $755.0k $755.0k 0.52% Added +74 +74
91 SEAMOUNT FINANCIAL GROUP INC 0.34% of their portfolio COLORADO SPRINGS, CO 15,54715.5k $745.3k $745.3k 0.34% Added +78 +78
92 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 15,42315.4k $739.3k $739.3k 0.00% Added +9.2k +9,204
93 SAGESPRING WEALTH PARTNERS, LLC 0.01% of their portfolio FRANKLIN, TN 15,18715.2k $728.0k $728.0k 0.01% Added +3.7k +3,726
94 COUNTRY TRUST BANK 0.01% of their portfolio Bloomington, IL 15,12515.1k $725.0k $725.0k 0.01% Reduced -495 -495
95 J.W. COLE ADVISORS, INC. 0.00% of their portfolio TAMPA, FL 14,80214.8k $115.7k $115.7k 0.00% Added +1.1k +1,102
96 Summit Wealth Partners, LLC 0.13% of their portfolio Orlando, FL 14,40114.4k $690.3k $690.3k 0.13% Unchanged
97 OneDigital Investment Advisors LLC 0.01% of their portfolio OVERLAND PARK, KS 14,31814.3k $686.3k $686.3k 0.01% Unchanged
98 Stonebridge Financial Planning Group, LLC 0.22% of their portfolio ORLANDO, FL 12,55212.6k $601.7k $601.7k 0.22% New
99 Marshall Financial Group, LLC 0.11% of their portfolio Hunt Valley, MD 12,36212.4k $592.6k $592.6k 0.11% Reduced -1.1k -1,117
100 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 12,11312.1k $580.6k $580.6k 0.00% Reduced -2.0k -1,961