First Trust S&P REIT Index Fund
FRI
63 hedge funds and large institutions have $126M invested in First Trust S&P REIT Index Fund in 2025 Q2 according to their latest regulatory filings, with 7 funds opening new positions, 18 increasing their positions, 27 reducing their positions, and 11 closing their positions.
2.8% more ownership
Funds ownership: 77.57% → 80.38% (+2.8%)
3% more capital invested
Capital invested by funds: $122M → $126M (+$3.31M)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
6% less funds holding
Funds holding: 67 → 63 (-4)
33% less repeat investments, than reductions
Existing positions increased: 18 | Existing positions reduced: 27
36% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 11
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
+$5.15M |
| 2 |
LPL Financial
San Diego,
California
|
+$2.68M |
| 3 |
Raymond James Financial
St Petersburg,
Florida
|
+$1.11M |
| 4 |
Stifel Financial
St. Louis,
Missouri
|
+$1.05M |
| 5 |
Morgan Stanley
New York
|
+$726K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BEI
Benjamin Edwards Inc
Clayton,
Missouri
|
-$2.19M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$1.42M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$1.38M |
| 4 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
-$1.12M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$795K |
FRI Hedge Fund Activity: Q2 2025 in Review
63 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in First Trust S&P REIT Index Fund (FRI) for Q2 2025, worth a combined $126M — up 2.7% from $122M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of FRI and 7 opened new positions — a net loss of 4 holders — while 27 trimmed existing stakes and 18 added.
The largest buyer was Cambridge Investment Research Advisors, adding an estimated $5.15M. The largest seller was Benjamin Edwards Inc, cutting an estimated $2.19M.
- 63 institutional investors held First Trust S&P REIT Index Fund (FRI) as of Q2 2025, down from 67 in Q1 2025.
- Funds reported $126M of First Trust S&P REIT Index Fund stock for Q2 2025, up 2.7% quarter-over-quarter.
- 7 funds opened new First Trust S&P REIT Index Fund positions in Q2 2025 and 11 closed out, a net change of -4 holders.
- The largest First Trust S&P REIT Index Fund buyer in Q2 2025 was Cambridge Investment Research Advisors, an estimated $5.15M added.
- The largest First Trust S&P REIT Index Fund seller in Q2 2025 was Benjamin Edwards Inc, an estimated $2.19M sold.
Based on aggregated 13F filings for Q2 2025.