First Trust Smith Unconstrained Bond ETF
UCON
283 hedge funds and large institutions have $2.64B invested in First Trust Smith Unconstrained Bond ETF in 2025 Q4 according to their latest regulatory filings, with 46 funds opening new positions, 123 increasing their positions, 94 reducing their positions, and 20 closing their positions.
130% more first-time investments, than exits
New positions opened: 46 | Existing positions closed: 20
31% more repeat investments, than reductions
Existing positions increased: 123 | Existing positions reduced: 94
15% more funds holding in top 10
Funds holding in top 10: 20 → 23 (+3)
10% more capital invested
Capital invested by funds: $2.4B → $2.64B (+$235M)
8% more funds holding
Funds holding: 262 → 283 (+21)
2.25% more ownership
Funds ownership: 80.79% → 83.04% (+2.2%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
+$38.1M |
| 2 |
TC
Trilogy Capital
Irvine,
California
|
+$34.5M |
| 3 |
ACA
Aptus Capital Advisors
Fairhope,
Alabama
|
+$25M |
| 4 |
Ameriprise
Minneapolis,
Minnesota
|
+$21.1M |
| 5 |
SWP
Stratos Wealth Partners
Beachwood,
Ohio
|
+$16.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IWC
Integrated Wealth Concepts
Waltham,
Massachusetts
|
-$17M |
| 2 |
JP Morgan Chase
New York
|
-$13.3M |
| 3 |
SWAG
Spectrum Wealth Advisory Group
Granite Bay,
California
|
-$13M |
| 4 |
HIW
Holos Integrated Wealth
Kennett Square,
Pennsylvania
|
-$9.94M |
| 5 |
PNC
Park National Corp
Newark,
Ohio
|
-$9.5M |
UCON Hedge Fund Activity: Q4 2025 in Review
283 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in First Trust Smith Unconstrained Bond ETF (UCON) for Q4 2025, worth a combined $2.64B — up 9.8% from $2.4B a quarter earlier.
Buyers outnumbered sellers: 46 funds opened new UCON positions and 20 closed out — a net gain of 26 holders — while 123 added to existing stakes and 94 trimmed.
The largest buyer was LPL Financial, adding an estimated $38.1M. The largest seller was Integrated Wealth Concepts, cutting an estimated $17M.
- 283 institutional investors held First Trust Smith Unconstrained Bond ETF (UCON) as of Q4 2025, up from 262 in Q3 2025.
- Funds reported $2.64B of First Trust Smith Unconstrained Bond ETF stock for Q4 2025, up 9.8% quarter-over-quarter.
- 46 funds opened new First Trust Smith Unconstrained Bond ETF positions in Q4 2025 and 20 closed out, a net change of +26 holders.
- The largest First Trust Smith Unconstrained Bond ETF buyer in Q4 2025 was LPL Financial, an estimated $38.1M added.
- The largest First Trust Smith Unconstrained Bond ETF seller in Q4 2025 was Integrated Wealth Concepts, an estimated $17M sold.
Based on aggregated 13F filings for Q4 2025.