First Trust Morningstar Dividend Leaders Index Fund
466 hedge funds and large institutions have $3.72B invested in First Trust Morningstar Dividend Leaders Index Fund in 2025 Q4 according to their latest regulatory filings, with 66 funds opening new positions, 177 increasing their positions, 149 reducing their positions, and 29 closing their positions.
128% more first-time investments, than exits
New positions opened: 66 | Existing positions closed: 29
19% more repeat investments, than reductions
Existing positions increased: 177 | Existing positions reduced: 149
7% more funds holding
Funds holding: 437 → 466 (+29)
5% more capital invested
Capital invested by funds: $3.53B → $3.72B (+$189M)
0% more funds holding in top 10
Funds holding in top 10: 14 → 14 (0)
0.6% less ownership
Funds ownership: 61.4% → 60.8% (-0.6%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Ameriprise
Minneapolis,
Minnesota
|
+$85.8M |
| 2 |
Morgan Stanley
New York
|
+$33.9M |
| 3 |
Raymond James Financial
St Petersburg,
Florida
|
+$29.9M |
| 4 |
VAS
Vestmark Advisory Solutions
Wakefield,
Massachusetts
|
+$9.27M |
| 5 |
LPL Financial
San Diego,
California
|
+$8.82M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AAP
Arax Advisory Partners
Denver,
Colorado
|
-$130M |
| 2 |
Goldman Sachs
New York
|
-$13.6M |
| 3 |
SFS
Sowell Financial Services
North Little Rock,
Arkansas
|
-$7.92M |
| 4 |
WEG
World Equity Group
Schaumburg,
Illinois
|
-$6.97M |
| 5 |
Tudor Investment Corp
Stamford,
Connecticut
|
-$5.86M |
FDL Hedge Fund Activity: Q4 2025 in Review
466 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in First Trust Morningstar Dividend Leaders Index Fund (FDL) for Q4 2025, worth a combined $3.72B — up 5.3% from $3.53B a quarter earlier.
Buyers outnumbered sellers: 66 funds opened new FDL positions and 29 closed out — a net gain of 37 holders — while 177 added to existing stakes and 149 trimmed.
The largest buyer was Ameriprise, adding an estimated $85.8M. The largest seller was Arax Advisory Partners, cutting an estimated $130M.
- 466 institutional investors held First Trust Morningstar Dividend Leaders Index Fund (FDL) as of Q4 2025, up from 437 in Q3 2025.
- Funds reported $3.72B of First Trust Morningstar Dividend Leaders Index Fund stock for Q4 2025, up 5.3% quarter-over-quarter.
- 66 funds opened new First Trust Morningstar Dividend Leaders Index Fund positions in Q4 2025 and 29 closed out, a net change of +37 holders.
- The largest First Trust Morningstar Dividend Leaders Index Fund buyer in Q4 2025 was Ameriprise, an estimated $85.8M added.
- The largest First Trust Morningstar Dividend Leaders Index Fund seller in Q4 2025 was Arax Advisory Partners, an estimated $130M sold.
Based on aggregated 13F filings for Q4 2025.