First Trust Smith Unconstrained Bond ETF
UCON
262 hedge funds and large institutions have $2.4B invested in First Trust Smith Unconstrained Bond ETF in 2025 Q3 according to their latest regulatory filings, with 16 funds opening new positions, 125 increasing their positions, 106 reducing their positions, and 22 closing their positions.
18% more repeat investments, than reductions
Existing positions increased: 125 | Existing positions reduced: 106
2% less capital invested
Capital invested by funds: $2.44B → $2.4B (-$38.8M)
1.03% less ownership
Funds ownership: 81.82% → 80.79% (-1%)
5% less funds holding
Funds holding: 275 → 262 (-13)
20% less funds holding in top 10
Funds holding in top 10: 25 → 20 (-5)
27% less first-time investments, than exits
New positions opened: 16 | Existing positions closed: 22
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Ameriprise
Minneapolis,
Minnesota
|
+$30.9M |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
+$23.3M |
| 3 |
Wells Fargo
San Francisco,
California
|
+$16.2M |
| 4 |
Morgan Stanley
New York
|
+$15.5M |
| 5 |
Osaic Holdings
Scottsdale,
Arizona
|
+$8.41M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
-$18.8M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$15.7M |
| 3 |
Jane Street
New York
|
-$14.2M |
| 4 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
-$12M |
| 5 |
LPL Financial
San Diego,
California
|
-$11.6M |
UCON Hedge Fund Activity: Q3 2025 in Review
262 of the 7,638 institutional investors tracked by Wall St. Rank reported a position in First Trust Smith Unconstrained Bond ETF (UCON) for Q3 2025, worth a combined $2.4B — down 1.6% from $2.44B a quarter earlier.
Sellers outnumbered buyers: 22 funds closed out of UCON and 16 opened new positions — a net loss of 6 holders — while 106 trimmed existing stakes and 125 added.
The largest buyer was Ameriprise, adding an estimated $30.9M. The largest seller was Citadel Advisors, exiting entirely with an estimated $18.8M sold.
- 262 institutional investors held First Trust Smith Unconstrained Bond ETF (UCON) as of Q3 2025, down from 275 in Q2 2025.
- Funds reported $2.4B of First Trust Smith Unconstrained Bond ETF stock for Q3 2025, down 1.6% quarter-over-quarter.
- 16 funds opened new First Trust Smith Unconstrained Bond ETF positions in Q3 2025 and 22 closed out, a net change of -6 holders.
- The largest First Trust Smith Unconstrained Bond ETF buyer in Q3 2025 was Ameriprise, an estimated $30.9M added.
- The largest First Trust Smith Unconstrained Bond ETF seller in Q3 2025 was Citadel Advisors, an estimated $18.8M sold.
Based on aggregated 13F filings for Q3 2025.