First Trust Low Duration Opportunities

LMBS • NASDAQ

First Trust Low Duration Opportunities is an exchange-traded fund on NASDAQ. As of Q3 2025, 391 institutional investors hold shares in this ETF, with total holdings valued at $4.2B. MORGAN STANLEY is the largest holder with a position valued at $687.7M.

Overview

Overview of institutional ownership in LMBS as of Q3 2025

All Institutions

Institutions: 391
Value Held: $4.2B
Shares Held: 84.5M
Avg Position: $10.8M
Median Position: $1.2M

Hedge Funds

Hedge Funds: 6
Value Held: $20.7M
Shares Held: 415.1K
Avg Position: $3.4M
Median Position: $474.6K

Biggest Investors

Institutions with the largest positions in LMBS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$687.7M 0.04% of portfolio	13.8M shares	Q2 2016 Held for 9y 6m	$1.65T
L LPL Financial LLC Institution	-	$578.1M 0.17% of portfolio	11.6M shares	Q4 2015 Held for 10 years	$340.07B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$270.6M 0.06% of portfolio	5.4M shares	Q3 2017 Held for 8y 3m	$488.52B
UBS Group AG Institution	Sergio P. Ermotti CEO	$230.5M 0.05% of portfolio	4.6M shares	Q1 2017 Held for 8y 9m	$511.60B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$189.7M 0.06% of portfolio	3.8M shares	Q4 2024 Held for 1 year	$310.44B
R ROYAL BANK OF CANADA Institution	-	$133.0M 0.02% of portfolio	2.7M shares	Q1 2016 Held for 9y 9m	$542.04B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$121.6M 0.14% of portfolio	2.4M shares	Q2 2017 Held for 8y 6m	$85.4B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$93.5M 0.01% of portfolio	1.9M shares	Q4 2014 Held for 11 years	$1.33T
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$61.4M 0.05% of portfolio	1.2M shares	Q4 2018 Held for 7 years	$134.15B
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	Wayne Michael Bloom CEO	$51.0M 0.07% of portfolio	1.0M shares	Q4 2017 Held for 8 years	$71.1B

Net Capital Flow

Institutional buying and selling activity for LMBS in Q3 2025

Traded: +$225.6M
Buyers: 232
Sellers: 167
Total Bought: +$316.0M
Total Sold: −$90.3M
Avg Position: $9.8M

Biggest Buyers

Institution	Net Bought	Current Position
L LPL Financial LLC Institution	+$53.2M +1.1M shares	$578.1M 11.6M shares
Cetera Investment Advisers RIA/Wealth	+$29.9M +599.7K shares	$121.6M 2.4M shares
Mount Yale Investment Advisors, LLC RIA/Wealth	+$22.4M +449.4K shares	$22.4M 449.4K shares
MORGAN STANLEY RIA/Wealth	+$18.4M +368.6K shares	$687.7M 13.8M shares
WELLS FARGO & COMPANY/MN Institution	+$12.7M +254.2K shares	$270.6M 5.4M shares
BANK OF AMERICA CORP /DE/ Institution	+$12.3M +246.8K shares	$93.5M 1.9M shares
Vestmark Advisory Solutions, Inc. Fund of Funds	+$12.1M +242.2K shares	$30.1M 605.4K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$10.7M +214.9K shares	$189.7M 3.8M shares
S STIFEL FINANCIAL CORP Long Only Manager	+$8.0M +160.2K shares	$35.3M 709.9K shares
FIRST TRUST ADVISORS LP ETF Provider	+$6.4M +129.4K shares	$61.4M 1.2M shares

Biggest Sellers

Institution	Net Sold	Current Position
UBS Group AG Institution	−$16.6M −333.8K shares	$230.5M 4.6M shares
Alpha Financial Advisors, LLC RIA/Wealth	−$5.2M −105.2K shares	Sold Off 0 shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$4.0M −81.0K shares	$8.5M 169.8K shares
Visionary Wealth Advisors RIA/Wealth	−$3.8M −78.1K shares	Sold Off 0 shares
Ameritas Advisory Services, LLC RIA/Wealth	−$3.7M −74.8K shares	$3.8M 76.9K shares
SRS Capital Advisors, Inc. RIA/Wealth	−$3.6M −74.0K shares	Sold Off 0 shares
E EWG Elevate Inc. Institution	−$3.3M −66.1K shares	$6.9M 137.6K shares
Financial Advocates Investment Management RIA/Wealth	−$3.0M −60.7K shares	Sold Off 0 shares
F Financial Enhancement Group LLC RIA/Wealth	−$3.0M −59.5K shares	$15.4M 309.5K shares
GOLDMAN SACHS GROUP INC Institution	−$2.7M −55.0K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited LMBS in Q3 2025

New Positions: 15
New Value: $25.8M
Exited Positions: 39
Exited Value: $28.8M

New Positions

Institution	Position Value
Mount Yale Investment Advisors, LLC RIA/Wealth	$22.4M 449.4K shares
SMART Wealth LLC RIA/Wealth	$810.2K 16.3K shares
SMITHBRIDGE ASSET MANAGEMENT INC/DE RIA/Wealth	$626.8K 12.6K shares
A Ascent Group, LLC Institution	$545.0K 10.9K shares
Carrera Capital Advisors RIA/Wealth	$370.1K 7.4K shares
Savvy Advisors, Inc. RIA/Wealth	$339.5K 6.8K shares
Old North State Wealth Management, LLC RIA/Wealth	$271.2K 5.4K shares
Dorsey & Whitney Trust CO LLC RIA/Wealth	$218.5K 4.4K shares
FIRST HORIZON NATIONAL CORP RIA/Wealth	$143.0K 2.9K shares
Financial Network Wealth Advisors LLC RIA/Wealth	$28.8K 578.0 shares

Exited Positions

Institution	Previous Position
Alpha Financial Advisors, LLC RIA/Wealth	$5.2M 105.2K shares
Visionary Wealth Advisors RIA/Wealth	$3.8M 78.1K shares
SRS Capital Advisors, Inc. RIA/Wealth	$3.6M 74.0K shares
Financial Advocates Investment Management RIA/Wealth	$3.0M 60.7K shares
GOLDMAN SACHS GROUP INC Institution	$2.7M 55.0K shares
J JANE STREET GROUP, LLC Institution	$889.5K 18.1K shares
SUMMIT WEALTH GROUP LLC / CO RIA/Wealth	$840.4K 17.1K shares
Divergent Planning, LLC RIA/Wealth	$811.6K 16.5K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$797.3K 16.2K shares
Vishria Bird Financial Group, LLC RIA/Wealth	$745.6K 15.1K shares

Options Activity

Institutions with the largest Call and Put options positions in LMBS as of Q3 2025

Call Positions: 1
Call Value: $249.0K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$249.0K 50.0 contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with LMBS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
S SEARCY FINANCIAL SERVICES INC /ADV RIA/Wealth	Jessica Ann Kmetty CEO	7.71% $20.3M	407.4K shares	Q2 2022 Held for 3y 6m	$263.1M
TL Private Wealth RIA/Wealth	Dustin Richard Tondre Managing Partner	6.59% $16.4M	328.4K shares	Q4 2019 Held for 6 years	$249.3M
Fairway Financial, LLC RIA/Wealth	Randy Eugene Smith Managing Partner	5.28% $6.7M	134.4K shares	Q4 2024 Held for 1 year	$126.9M
Entruity Wealth, LLC RIA/Wealth	Bradley Calvin Barnes CEO	5.17% $6.7M	133.7K shares	Q4 2024 Held for 1 year	$128.8M
PFS Partners, LLC RIA/Wealth	David Ryan Vollmer Managing Partner	5.12% $10.8M	216.0K shares	Q4 2021 Held for 4 years	$210.1M
Park Square Financial Group, LLC RIA/Wealth	Donald Leonard Ruffin CEO	4.98% $1.1M	22.3K shares	Q4 2024 Held for 1 year	$22.3M
Weitzel Financial Services, Inc. RIA/Wealth	Bradley Joseph Weitzel President	4.93% $12.1M	242.7K shares	Q4 2020 Held for 5 years	$246.1M
Morris Retirement Advisors, LLC RIA/Wealth	Adam Charles Anderson Managing Partner	4.86% $11.1M	223.9K shares	Q4 2020 Held for 5 years	$229.3M
R RiverTree Advisors, LLC RIA/Wealth	Theodore Spencer Rich President	4.64% $7.2M	144.1K shares	Q3 2022 Held for 3y 3m	$154.7M
BELLEVUE ASSET MANAGEMENT, LLC RIA/Wealth	Jill Christine Mcvey Member	4.41% $9.6M	192.5K shares	Q4 2019 Held for 6 years	$217.3M

Hedge Fund Spotlight

Discover hedge funds investing in LMBS

WINEBRENNER CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerEarl George Winebrenner

Portfolio Value: $137.9M
Positions: 133
Last Reported: Q3 2025

Sector Allocation

Position in First Trust Low Duration Opportunities

Market Value: $431.8K
Shares Held: 8.7K
Portfolio Weight: 0.31%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 DFCF Dimensional Core Fixed Income DFCF	ETF ETF	$6.4M	4.66%
2 Nvidia NVDA	Semiconductors Technology	$6.3M	4.58%
3 Pacer Pacific Asset Floating Rate High Income FLRT	ETF ETF	$5.6M	4.08%

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