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First Trust Multi-Manager Small Cap Opportunities ETF
MMSC

19 hedge funds and large institutions have $30.8M invested in First Trust Multi-Manager Small Cap Opportunities ETF in 2025 Q4 according to their latest regulatory filings, with 8 funds opening new positions, 5 increasing their positions, 5 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

167% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 3

40% more capital invested

Capital invested by funds: $22M → $30.8M (+$8.74M)

36% more funds holding

Funds holding: 14 → 19 (+5)

4.65% more ownership

Funds ownership: 78.25% → 82.9% (+4.6%)

0% more repeat investments, than reductions

Existing positions increased: 5 | Existing positions reduced: 5

Holders
19
Holders Change
+5
Holders Change %
+35.71%
% of All Funds
0.23%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
8
Increased
5
Reduced
5
Closed
3
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
TLP
Trinity Legacy Partners
Texas
+$6.41M
2
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$1.16M
3
BIG
Brookwood Investment Group
Arizona
+$956K
4
ARC
Advisor Resource Council
Texas
+$398K
5
TI
Tidal Investments
Wisconsin
+$318K

Top Sellers

1
TRCT
Tower Research Capital (TRC)
New York
-$784K
2
Citadel Advisors
Citadel Advisors
Florida
-$205K
3
MF
Manchester Financial
California
-$190K
4
CF
Centaurus Financial
California
-$163K
5
ASN
Advisory Services Network
Georgia
-$39.8K
Name Holding Trade Value Shares
Change 		Change in
Stake
TLP
1
Trinity Legacy Partners
Texas
$11M +$6.41M +267,735 +140%
JIP
2
Jaffetilchin Investment Partners
Florida
$7.17M +$64.4K +2,693 +0.9%
MF
3
Manchester Financial
California
$6.26M -$190K -7,945 -3%
Cetera Investment Advisers
4
Cetera Investment Advisers
Illinois
$1.75M +$1.16M +48,527 +196%
Cambridge Investment Research Advisors
5
Cambridge Investment Research Advisors
Iowa
$985K -$8.11K -339 -0.8%
BIG
6
Brookwood Investment Group
Arizona
$957K +$956K +39,965 New
Envestnet Asset Management
7
Envestnet Asset Management
Illinois
$646K -$29.6K -1,236 -4%
ARC
8
Advisor Resource Council
Texas
$422K +$398K +16,635 New
Truist Financial
9
Truist Financial
North Carolina
$359K -$18.5K -774 -5%
TI
10
Tidal Investments
Wisconsin
$318K +$318K +13,273 New
Commonwealth Equity Services
11
Commonwealth Equity Services
Massachusetts
$293K +$67K +2,798 +30%
Susquehanna International Group
12
Susquehanna International Group
Pennsylvania
$240K +$239K +10,005 New
Osaic Holdings
13
Osaic Holdings
Arizona
$162K +$59.2K +2,472 +58%
ACA
14
Aptus Capital Advisors
Alabama
$111K – – –
TRCT
15
Tower Research Capital (TRC)
New York
$66.4K -$784K -32,753 -92%
KAS
16
Kestra Advisory Services
Texas
$49.9K +$49.9K +2,086 New
IIM
17
IFC & Insurance Marketing
California
$5K +$5.41K +226 New
JP Morgan Chase
18
JP Morgan Chase
New York
$1.82K +$1.82K +76 New
GWSA
19
Global Wealth Strategies & Associates
Colorado
$96 +$96 +4 New
Citadel Advisors
20
Citadel Advisors
Florida
– -$205K -8,832 Closed
CF
21
Centaurus Financial
California
– -$163K -7,000 Closed
ASN
22
Advisory Services Network
Georgia
– -$39.8K -1,711 Closed

MMSC Hedge Fund Activity: Q4 2025 in Review

19 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) for Q4 2025, worth a combined $30.8M — up 40% from $22M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new MMSC positions and 3 closed out — a net gain of 5 holders — while 5 added to existing stakes and 5 trimmed.

The largest buyer was Trinity Legacy Partners, adding an estimated $6.41M. The largest seller was Tower Research Capital (TRC), cutting an estimated $784K.

  • 19 institutional investors held First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) as of Q4 2025, up from 14 in Q3 2025.
  • Funds reported $30.8M of First Trust Multi-Manager Small Cap Opportunities ETF stock for Q4 2025, up 40% quarter-over-quarter.
  • 8 funds opened new First Trust Multi-Manager Small Cap Opportunities ETF positions in Q4 2025 and 3 closed out, a net change of +5 holders.
  • The largest First Trust Multi-Manager Small Cap Opportunities ETF buyer in Q4 2025 was Trinity Legacy Partners, an estimated $6.41M added.
  • The largest First Trust Multi-Manager Small Cap Opportunities ETF seller in Q4 2025 was Tower Research Capital (TRC), an estimated $784K sold.

Based on aggregated 13F filings for Q4 2025.