Nicholas Fixed Income Alternative ETF
FIAX
13 hedge funds and large institutions have $129M invested in Nicholas Fixed Income Alternative ETF in 2025 Q4 according to their latest regulatory filings, with 1 funds opening new positions, 2 increasing their positions, 7 reducing their positions, and 0 closing their positions.
8% more funds holding
Funds holding: 12 → 13 (+1)
0.64% more ownership
Funds ownership: 83.5% → 84.15% (+0.64%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
1% less capital invested
Capital invested by funds: $130M → $129M (-$1.33M)
71% less repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KA
Kovack Advisors
Ft. Lauderdale,
Florida
|
+$198K |
| 2 |
SW
SMART Wealth
Omaha,
Nebraska
|
+$65.1K |
| 3 |
AWM
AE Wealth Management
Topeka,
Kansas
|
+$29.3K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BCM
BluePath Capital Management
Atlanta,
Georgia
|
-$699K |
| 2 |
FTUS
Flow Traders U.S.
New York
|
-$212K |
| 3 |
TI
Tidal Investments
Milwaukee,
Wisconsin
|
-$147K |
| 4 |
AWA
Authentikos Wealth Advisory
Morgan Hill,
California
|
-$89.3K |
| 5 |
Jane Street
New York
|
-$17K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TAF
1
Tredje AP-fonden
Se-111 91 Stockholm,
Sweden
| $88.7M | – | – | – |
|
|
BCM
2
BluePath Capital Management
Atlanta,
Georgia
| $13.6M | -$699K | -38,744 | -5% |
|
|
SW
3
SMART Wealth
Omaha,
Nebraska
| $10.3M | +$65.1K | +3,606 | +0.6% |
|
|
AWM
4
AE Wealth Management
Topeka,
Kansas
| $9.81M | +$29.3K | +1,622 | +0.3% |
|
|
TI
5
Tidal Investments
Milwaukee,
Wisconsin
| $2.18M | -$147K | -8,142 | -6% |
|
|
FTUS
6
Flow Traders U.S.
New York
| $1.69M | -$212K | -11,750 | -11% |
|
|
AWA
7
Authentikos Wealth Advisory
Morgan Hill,
California
| $1.06M | -$89.3K | -4,947 | -8% |
|
|
CWM
8
Centric Wealth Management
Chicago,
Illinois
| $951K | -$7.11K | -394 | -0.7% |
|
|
9
Jane Street
New York
| $321K | -$17K | -943 | -5% |
|
|
KA
10
Kovack Advisors
Ft. Lauderdale,
Florida
| $197K | +$198K | +10,984 | New |
|
11
Morgan Stanley
New York
| $46.3K | – | – | – |
|
12
Wells Fargo
San Francisco,
California
| $719 | – | – | – |
|
13
UBS Group
Zurich,
Switzerland
| $701 | -$13.9K | -769 | -95% |
|
FIAX Hedge Fund Activity: Q4 2025 in Review
13 of the 8,232 institutional investors tracked by Wall St. Rank reported a position in Nicholas Fixed Income Alternative ETF (FIAX) for Q4 2025, worth a combined $129M — down 1% from $130M a quarter earlier.
Buyers outnumbered sellers: 1 fund opened new FIAX positions and 0 closed out — a net gain of 1 holder — while 2 added to existing stakes and 7 trimmed.
The largest buyer was Kovack Advisors, opening a new position worth an estimated $198K. The largest seller was BluePath Capital Management, cutting an estimated $699K.
- 13 institutional investors held Nicholas Fixed Income Alternative ETF (FIAX) as of Q4 2025, up from 12 in Q3 2025.
- Funds reported $129M of Nicholas Fixed Income Alternative ETF stock for Q4 2025, down 1% quarter-over-quarter.
- 1 fund opened new Nicholas Fixed Income Alternative ETF positions in Q4 2025 and 0 closed out, a net change of +1 holder.
- The largest Nicholas Fixed Income Alternative ETF buyer in Q4 2025 was Kovack Advisors, an estimated $198K added.
- The largest Nicholas Fixed Income Alternative ETF seller in Q4 2025 was BluePath Capital Management, an estimated $699K sold.
Based on aggregated 13F filings for Q4 2025.