Nicholas Fixed Income Alternative ETF
FIAX
12 hedge funds and large institutions have $130M invested in Nicholas Fixed Income Alternative ETF in 2025 Q3 according to their latest regulatory filings, with 1 funds opening new positions, 5 increasing their positions, 4 reducing their positions, and 3 closing their positions.
25% more repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 4
1.72% more ownership
Funds ownership: 81.78% → 83.5% (+1.7%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
0% less capital invested
Capital invested by funds: $131M → $130M (-$362K)
14% less funds holding
Funds holding: 14 → 12 (-2)
67% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 3
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SW
SMART Wealth
Omaha,
Nebraska
|
+$1.87M |
| 2 |
FTUS
Flow Traders U.S.
New York
|
+$1.15M |
| 3 |
AWM
AE Wealth Management
Topeka,
Kansas
|
+$328K |
| 4 |
TI
Tidal Investments
Milwaukee,
Wisconsin
|
+$133K |
| 5 |
CWM
Centric Wealth Management
Chicago,
Illinois
|
+$67.3K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BCM
BluePath Capital Management
Atlanta,
Georgia
|
-$1.59M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$343K |
| 3 |
ZI
ZEGA Investments
Palm Beach Gardens,
Florida
|
-$210K |
| 4 |
Jane Street
New York
|
-$91.4K |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$81.5K |
FIAX Hedge Fund Activity: Q3 2025 in Review
12 of the 7,643 institutional investors tracked by Wall St. Rank reported a position in Nicholas Fixed Income Alternative ETF (FIAX) for Q3 2025, worth a combined $130M — down 0.28% from $131M a quarter earlier.
Sellers outnumbered buyers: 3 funds closed out of FIAX and 1 opened new positions — a net loss of 2 holders — while 4 trimmed existing stakes and 5 added.
The largest buyer was SMART Wealth, adding an estimated $1.87M. The largest seller was BluePath Capital Management, cutting an estimated $1.59M.
- 12 institutional investors held Nicholas Fixed Income Alternative ETF (FIAX) as of Q3 2025, down from 14 in Q2 2025.
- Funds reported $130M of Nicholas Fixed Income Alternative ETF stock for Q3 2025, down 0.28% quarter-over-quarter.
- 1 fund opened new Nicholas Fixed Income Alternative ETF positions in Q3 2025 and 3 closed out, a net change of -2 holders.
- The largest Nicholas Fixed Income Alternative ETF buyer in Q3 2025 was SMART Wealth, an estimated $1.87M added.
- The largest Nicholas Fixed Income Alternative ETF seller in Q3 2025 was BluePath Capital Management, an estimated $1.59M sold.
Based on aggregated 13F filings for Q3 2025.