First Trust Managed Futures Strategy Fund
FMF
82 hedge funds and large institutions have $181M invested in First Trust Managed Futures Strategy Fund in 2025 Q4 according to their latest regulatory filings, with 13 funds opening new positions, 43 increasing their positions, 19 reducing their positions, and 7 closing their positions.
126% more repeat investments, than reductions
Existing positions increased: 43 | Existing positions reduced: 19
86% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 7
18% more capital invested
Capital invested by funds: $154M → $181M (+$27M)
8% more funds holding
Funds holding: 76 → 82 (+6)
3.18% more ownership
Funds ownership: 83.25% → 86.43% (+3.2%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$7.11M |
| 2 |
LPL Financial
San Diego,
California
|
+$4.65M |
| 3 |
AssetMark Inc
Concord,
California
|
+$4.26M |
| 4 |
CFAM
Center For Asset Management
Palm Beach Gardens,
Florida
|
+$2.89M |
| 5 |
Morgan Stanley
New York
|
+$2.41M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$1.23M |
| 2 |
PBF
Petix & Botte Financial
La Mesa,
California
|
-$514K |
| 3 |
SPC
Sigma Planning Corp
Ann Arbor,
Michigan
|
-$471K |
| 4 |
GRP
Global Retirement Partners
San Rafael,
California
|
-$470K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$433K |
FMF Hedge Fund Activity: Q4 2025 in Review
82 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Futures Strategy Fund (FMF) for Q4 2025, worth a combined $181M — up 18% from $154M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new FMF positions and 7 closed out — a net gain of 6 holders — while 43 added to existing stakes and 19 trimmed.
The largest buyer was Cetera Investment Advisers, adding an estimated $7.11M. The largest seller was Jane Street, exiting entirely with an estimated $1.23M sold.
- 82 institutional investors held First Trust Managed Futures Strategy Fund (FMF) as of Q4 2025, up from 76 in Q3 2025.
- Funds reported $181M of First Trust Managed Futures Strategy Fund stock for Q4 2025, up 18% quarter-over-quarter.
- 13 funds opened new First Trust Managed Futures Strategy Fund positions in Q4 2025 and 7 closed out, a net change of +6 holders.
- The largest First Trust Managed Futures Strategy Fund buyer in Q4 2025 was Cetera Investment Advisers, an estimated $7.11M added.
- The largest First Trust Managed Futures Strategy Fund seller in Q4 2025 was Jane Street, an estimated $1.23M sold.
Based on aggregated 13F filings for Q4 2025.