First Trust Smith Unconstrained Bond ETF
UCON
278 hedge funds and large institutions have $2.44B invested in First Trust Smith Unconstrained Bond ETF in 2025 Q2 according to their latest regulatory filings, with 20 funds opening new positions, 111 increasing their positions, 133 reducing their positions, and 31 closing their positions.
3.29% less ownership
Funds ownership: 85.15% → 81.86% (-3.3%)
4% less funds holding
Funds holding: 291 → 278 (-13)
17% less repeat investments, than reductions
Existing positions increased: 111 | Existing positions reduced: 133
26% less funds holding in top 10
Funds holding in top 10: 34 → 25 (-9)
35% less first-time investments, than exits
New positions opened: 20 | Existing positions closed: 31
78% less capital inflows, than outflows
Capital inflows: $139M | Capital outflows: $638M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Geneos Wealth Management
Englewood,
Colorado
|
+$9.9M |
| 2 |
HBW Advisory Services
Simi Valley,
California
|
+$8.51M |
| 3 |
Spectrum Wealth Advisory Group
Granite Bay,
California
|
+$7.46M |
| 4 |
Live Oak Investment Partners
Austin,
Texas
|
+$7.32M |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$6.32M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$210M |
| 2 |
WWMSC
Wagner Wealth Management (South Carolina)
Greenville,
South Carolina
|
-$34.8M |
| 3 |
LPL Financial
San Diego,
California
|
-$32.1M |
| 4 |
Christopher J. Hasenberg
Eau Claire,
Wisconsin
|
-$31.3M |
| 5 |
Morling Financial Advisors
Fremont,
California
|
-$30.9M |
UCON Hedge Fund Activity: Q2 2025 in Review
278 of the 7,630 institutional investors tracked by Wall St. Rank reported a position in First Trust Smith Unconstrained Bond ETF (UCON) for Q2 2025, worth a combined $2.44B — down 17% from $2.94B a quarter earlier.
Sellers outnumbered buyers: 31 funds closed out of UCON and 20 opened new positions — a net loss of 11 holders — while 133 trimmed existing stakes and 111 added.
The largest buyer was Geneos Wealth Management, adding an estimated $9.9M. The largest seller was UBS Group, cutting an estimated $210M.
- 278 institutional investors held First Trust Smith Unconstrained Bond ETF (UCON) as of Q2 2025, down from 291 in Q1 2025.
- Funds reported $2.44B of First Trust Smith Unconstrained Bond ETF stock for Q2 2025, down 17% quarter-over-quarter.
- 20 funds opened new First Trust Smith Unconstrained Bond ETF positions in Q2 2025 and 31 closed out, a net change of -11 holders.
- The largest First Trust Smith Unconstrained Bond ETF buyer in Q2 2025 was Geneos Wealth Management, an estimated $9.9M added.
- The largest First Trust Smith Unconstrained Bond ETF seller in Q2 2025 was UBS Group, an estimated $210M sold.
Based on aggregated 13F filings for Q2 2025.