First Trust S&P REIT Index Fund
FRI
67 hedge funds and large institutions have $122M invested in First Trust S&P REIT Index Fund in 2025 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 18 increasing their positions, 30 reducing their positions, and 10 closing their positions.
3.37% more ownership
Funds ownership: 74.21% → 77.57% (+3.4%)
8% less capital invested
Capital invested by funds: $133M → $122M (-$10.6M)
9% less funds holding
Funds holding: 74 → 67 (-7)
40% less repeat investments, than reductions
Existing positions increased: 18 | Existing positions reduced: 30
50% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 10
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AFS
Aft Forsyth & Sober
Valrico,
Florida
|
+$9.09M |
| 2 |
BEI
Benjamin Edwards Inc
Clayton,
Missouri
|
+$3.08M |
| 3 |
LPL Financial
San Diego,
California
|
+$1.78M |
| 4 |
CI
CX Institutional
Auburn,
Indiana
|
+$801K |
| 5 |
Wells Fargo
San Francisco,
California
|
+$579K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
-$5.27M |
| 2 |
CA
Crumly & Associates
Springfield,
Illinois
|
-$3.64M |
| 3 |
Morgan Stanley
New York
|
-$2.75M |
| 4 |
VAS
Vestmark Advisory Solutions
Wakefield,
Massachusetts
|
-$2.73M |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$2.15M |
FRI Hedge Fund Activity: Q1 2025 in Review
67 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in First Trust S&P REIT Index Fund (FRI) for Q1 2025, worth a combined $122M — down 8% from $133M a quarter earlier.
Sellers outnumbered buyers: 10 funds closed out of FRI and 5 opened new positions — a net loss of 5 holders — while 30 trimmed existing stakes and 18 added.
The largest buyer was Aft Forsyth & Sober, adding an estimated $9.09M. The largest seller was Cambridge Investment Research Advisors, cutting an estimated $5.27M.
- 67 institutional investors held First Trust S&P REIT Index Fund (FRI) as of Q1 2025, down from 74 in Q4 2024.
- Funds reported $122M of First Trust S&P REIT Index Fund stock for Q1 2025, down 8% quarter-over-quarter.
- 5 funds opened new First Trust S&P REIT Index Fund positions in Q1 2025 and 10 closed out, a net change of -5 holders.
- The largest First Trust S&P REIT Index Fund buyer in Q1 2025 was Aft Forsyth & Sober, an estimated $9.09M added.
- The largest First Trust S&P REIT Index Fund seller in Q1 2025 was Cambridge Investment Research Advisors, an estimated $5.27M sold.
Based on aggregated 13F filings for Q1 2025.