First Trust Horizon Managed Volatility Small/Mid ETF
HSMV
17 hedge funds and large institutions have $33.5M invested in First Trust Horizon Managed Volatility Small/Mid ETF in 2025 Q4 according to their latest regulatory filings, with 2 funds opening new positions, 9 increasing their positions, 3 reducing their positions, and 2 closing their positions.
200% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 3
5% more capital invested
Capital invested by funds: $31.9M → $33.5M (+$1.62M)
0.6% more ownership
Funds ownership: 116.84% → 117.44% (+0.6%)
0% more funds holding
Funds holding: 17 → 17 (0)
0% more first-time investments, than exits
New positions opened: 2 | Existing positions closed: 2
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TRCT
Tower Research Capital (TRC)
New York
|
+$1.16M |
| 2 |
LPL Financial
San Diego,
California
|
+$408K |
| 3 |
Bank of New York Mellon
New York
|
+$280K |
| 4 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
+$277K |
| 5 |
Envestnet Asset Management
Chicago,
Illinois
|
+$246K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Investments
New York
|
-$263K |
| 2 |
BCI
Brinker Capital Investments
Berwyn,
Pennsylvania
|
-$29K |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$28.2K |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
-$14.7K |
| 5 |
RF
Rossby Financial
Melbourne,
Florida
|
-$8.86K |
HSMV Hedge Fund Activity: Q4 2025 in Review
17 of the 8,228 institutional investors tracked by Wall St. Rank reported a position in First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) for Q4 2025, worth a combined $33.5M — up 5.1% from $31.9M a quarter earlier.
Fund positioning in HSMV was balanced in Q4 2025: 2 funds opened new positions, 2 closed out, 9 added to existing stakes and 3 trimmed.
The largest buyer was Tower Research Capital (TRC), adding an estimated $1.16M. The largest seller was Two Sigma Investments, exiting entirely with an estimated $263K sold.
- 17 institutional investors held First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) as of Q4 2025, unchanged from Q3 2025.
- Funds reported $33.5M of First Trust Horizon Managed Volatility Small/Mid ETF stock for Q4 2025, up 5.1% quarter-over-quarter.
- 2 funds opened new First Trust Horizon Managed Volatility Small/Mid ETF positions in Q4 2025 and 2 closed out, a net change of 0 holders.
- The largest First Trust Horizon Managed Volatility Small/Mid ETF buyer in Q4 2025 was Tower Research Capital (TRC), an estimated $1.16M added.
- The largest First Trust Horizon Managed Volatility Small/Mid ETF seller in Q4 2025 was Two Sigma Investments, an estimated $263K sold.
Based on aggregated 13F filings for Q4 2025.