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First Trust Smith Unconstrained Bond ETF
UCON

275 hedge funds and large institutions have $2.73B invested in First Trust Smith Unconstrained Bond ETF in 2026 Q1 according to their latest regulatory filings, with 29 funds opening new positions, 133 increasing their positions, 97 reducing their positions, and 27 closing their positions.

New
Increased
Maintained
Reduced
Closed

37% more repeat investments, than reductions

Existing positions increased: 133 | Existing positions reduced: 97

13% more funds holding in top 10

Funds holding in top 10: 23 → 26 (+3)

1.89% more ownership

Funds ownership: 83.04% → 84.93% (+1.9%)

7% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 27

4% more capital invested

Capital invested by funds: $2.64B → $2.73B (+$97.4M)

3% less funds holding

Funds holding: 283 → 275 (-8)

Holders
275
Holders Change
-8
Holders Change %
-2.83%
% of All Funds
3.38%
Holding in Top 10
26
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+13.04%
% of All Funds
0.32%
New
29
Increased
133
Reduced
97
Closed
27
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AWA
Arkadios Wealth Advisors
Georgia
+$25.9M
2
IWC
Integrated Wealth Concepts
Massachusetts
+$15.7M
3
Morgan Stanley
Morgan Stanley
New York
+$15.6M
4
HI
Harbour Investments
Wisconsin
+$14M
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$13.1M

Top Sellers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
-$12.8M
2
Cerity Partners
Cerity Partners
New York
-$9.46M
3
AWM
Axxcess Wealth Management
California
-$8.87M
4
PNC
Park National Corp
Ohio
-$8.18M
5
SPIA
Steward Partners Investment Advisory
New York
-$6.47M
Name Holding Trade Value Shares
Change 		Change in
Stake
HWA
126
HCR Wealth Advisors
California
$2.09M +$470K +18,717 +28%
APP
127
Avantax Planning Partners
Iowa
$1.92M – – –
Rockefeller Capital Management
128
Rockefeller Capital Management
New York
$1.63M -$96.3K -3,836 -6%
CAP
129
Columbia Advisory Partners
Washington
$1.63M -$9.89K -394 -0.6%
SG
130
StoneX Group
New York
$1.62M -$850K -33,848 -34%
Fifth Third Bancorp
131
Fifth Third Bancorp
Ohio
$1.54M +$1.56M +62,275 New
AAS
132
Ameritas Advisory Services
Nebraska
$1.36M -$136K -5,417 -9%
SF
133
Summit Financial
New Jersey
$1.33M +$23.6K +941 +2%
FFA
134
Farther Finance Advisors
California
$1.32M -$1.5M -59,753 -53%
PFPG
135
Pinnacle Financial Partners (Georgia)
Georgia
$1.31M +$229K +9,126 +21%
LCWP
136
Legacy Capital Wealth Partners
Arkansas
$1.31M +$24.4K +972 +2%
SPC
137
Sigma Planning Corp
Michigan
$1.29M -$51.9K -2,067 -4%
DWM
138
Diversify Wealth Management
Utah
$1.29M +$1.3M +51,928 New
PAS
139
PKS Advisory Services
New York
$1.27M -$308K -12,270 -19%
IFG
140
Independent Financial Group
California
$1.17M +$1.19M +47,224 New
SC
141
SouthState Corp
Florida
$1.1M -$260K -10,376 -19%
EWS
142
Evergreen Wealth Solutions
Pennsylvania
$1.08M +$143K +5,680 +15%
BWM
143
BlackDiamond Wealth Management
New York
$966K -$2.69M -107,078 -73%
FTS
144
Fifth Third Securities
Ohio
$954K -$2.42M -96,416 -71%
IPW
145
Impact Partnership Wealth
Georgia
$941K +$8.03K +320 +0.8%
CF
146
Centaurus Financial
California
$933K +$515K +20,528 +120%
NS
147
NBC Securities
Alabama
$908K +$19.1K +759 +2%
Goldman Sachs
148
Goldman Sachs
New York
$901K +$667K +26,552 +270%
Susquehanna International Group
149
Susquehanna International Group
Pennsylvania
$896K -$1.03M -41,008 -53%
PFS
150
Prospera Financial Services
Texas
$893K +$97.7K +3,893 +12%
4 5
6
7 8

UCON Hedge Fund Activity: Q1 2026 in Review

275 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in First Trust Smith Unconstrained Bond ETF (UCON) for Q1 2026, worth a combined $2.73B — up 3.7% from $2.64B a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new UCON positions and 27 closed out — a net gain of 2 holders — while 133 added to existing stakes and 97 trimmed.

The largest buyer was Arkadios Wealth Advisors, adding an estimated $25.9M. The largest seller was JP Morgan Chase, cutting an estimated $12.8M.

  • 275 institutional investors held First Trust Smith Unconstrained Bond ETF (UCON) as of Q1 2026, down from 283 in Q4 2025.
  • Funds reported $2.73B of First Trust Smith Unconstrained Bond ETF stock for Q1 2026, up 3.7% quarter-over-quarter.
  • 29 funds opened new First Trust Smith Unconstrained Bond ETF positions in Q1 2026 and 27 closed out, a net change of +2 holders.
  • The largest First Trust Smith Unconstrained Bond ETF buyer in Q1 2026 was Arkadios Wealth Advisors, an estimated $25.9M added.
  • The largest First Trust Smith Unconstrained Bond ETF seller in Q1 2026 was JP Morgan Chase, an estimated $12.8M sold.

Based on aggregated 13F filings for Q1 2026.