First Trust Active Factor Small Cap ETF
AFSM
30 hedge funds and large institutions have $68.1M invested in First Trust Active Factor Small Cap ETF in 2025 Q4 according to their latest regulatory filings, with 6 funds opening new positions, 10 increasing their positions, 11 reducing their positions, and 7 closing their positions.
39% more capital invested
Capital invested by funds: $48.9M → $68.1M (+$19.3M)
0.52% more ownership
Funds ownership: 103.05% → 103.57% (+0.52%)
9% less repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 11
3% less funds holding
Funds holding: 31 → 30 (-1)
14% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JJBC
James J. Burns & Company
Melville,
New York
|
+$17.1M |
| 2 |
Carson Wealth (CWM LLC)
Omaha,
Nebraska
|
+$5.84M |
| 3 |
JP Morgan Chase
New York
|
+$2.49M |
| 4 |
MOS
MGO One Seven
Beachwood,
Ohio
|
+$1.95M |
| 5 |
LPL Financial
San Diego,
California
|
+$1.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
-$3.35M |
| 2 |
Truist Financial
Charlotte,
North Carolina
|
-$3.23M |
| 3 |
RW
Rockport Wealth
Fairview Park,
Ohio
|
-$2.09M |
| 4 |
FDCDDQ
Federation des caisses Desjardins du Quebec
Levis,
Quebec, Canada
|
-$1.63M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$1.42M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
AWA
26
Arkadios Wealth Advisors
Atlanta,
Georgia
| $206K | +$204K | +6,272 | New |
|
|
FFA
27
Farther Finance Advisors
San Francisco,
California
| $65.8K | – | – | – |
|
|
HI
28
Harbour Investments
Madison,
Wisconsin
| $39.9K | – | – | – |
|
29
National Bank of Canada
Montreal,
Quebec, Canada
| $38.4K | -$1.17K | -36 | -3% |
|
30
Morgan Stanley
New York
| $65 | – | – | – |
|
|
RW
31
Rockport Wealth
Fairview Park,
Ohio
| – | -$2.09M | -64,046 | Closed |
|
|
32
Citadel Advisors
Miami,
Florida
| – | -$1.42M | -43,360 | Closed |
|
|
PFS
33
Prospera Financial Services
Dallas,
Texas
| – | -$547K | -16,718 | Closed |
|
34
Goldman Sachs
New York
| – | -$200K | -6,127 | Closed |
|
|
TRCT
35
Tower Research Capital (TRC)
New York
| – | -$125K | -3,823 | Closed |
|
|
FFA
36
Founders Financial Alliance
Raleigh,
North Carolina
| – | -$8.18K | -250 | Closed |
|
37
UBS Group
Zurich,
Switzerland
| – | -$5.04K | -154 | Closed |
|
AFSM Hedge Fund Activity: Q4 2025 in Review
30 of the 8,228 institutional investors tracked by Wall St. Rank reported a position in First Trust Active Factor Small Cap ETF (AFSM) for Q4 2025, worth a combined $68.1M — up 39% from $48.9M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of AFSM and 6 opened new positions — a net loss of 1 holder — while 11 trimmed existing stakes and 10 added.
The largest buyer was James J. Burns & Company, opening a new position worth an estimated $17.1M. The largest seller was Envestnet Asset Management, cutting an estimated $3.35M.
- 30 institutional investors held First Trust Active Factor Small Cap ETF (AFSM) as of Q4 2025, down from 31 in Q3 2025.
- Funds reported $68.1M of First Trust Active Factor Small Cap ETF stock for Q4 2025, up 39% quarter-over-quarter.
- 6 funds opened new First Trust Active Factor Small Cap ETF positions in Q4 2025 and 7 closed out, a net change of -1 holder.
- The largest First Trust Active Factor Small Cap ETF buyer in Q4 2025 was James J. Burns & Company, an estimated $17.1M added.
- The largest First Trust Active Factor Small Cap ETF seller in Q4 2025 was Envestnet Asset Management, an estimated $3.35M sold.
Based on aggregated 13F filings for Q4 2025.