FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund

TLTD • ARCA

FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund is an exchange-traded fund on ARCA. As of Q3 2025, 67 institutional investors hold shares in this ETF, with total holdings valued at $517.3M. NORTHERN TRUST CORP is the largest holder with a position valued at $346.4M.

Overview

Overview of institutional ownership in TLTD as of Q3 2025

All Institutions

Institutions: 67
Value Held: $517.3M
Shares Held: 5.8M
Avg Position: $7.7M
Median Position: $537.1K

Hedge Funds

Hedge Funds: 0
Value Held: -
Shares Held: -
Avg Position: -
Median Position: -

Biggest Investors

Institutions with the largest positions in TLTD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$346.4M 0.04% of portfolio	3.9M shares	≤ Q2 2013 Held for 12y 5m+	$782.01B
Capstone Financial Advisors, Inc. RIA/Wealth	Troy E. Bute President	$40.9M 2.22% of portfolio	461.0K shares	Q4 2018 Held for 6y 11m	$1.8B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$37.4M 0.01% of portfolio	421.5K shares	Q3 2018 Held for 7y 2m	$341.99B
MML INVESTORS SERVICES, LLC RIA/Wealth	Vaughn Charles Bowman CEO	$12.0M 0.03% of portfolio	135.5K shares	Q2 2021 Held for 4y 5m	$36.7B
H Harbour Trust & Investment Management Co Institution	-	$11.7M 1.21% of portfolio	132.2K shares	Q4 2023 Held for 1y 11m	$967.4M
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	Wayne Michael Bloom CEO	$10.7M 0.01% of portfolio	120.1K shares	Q4 2017 Held for 7y 11m	$71.1B
F FLOW TRADERS U.S. LLC Institution	-	$6.4M 0.31% of portfolio	72.6K shares	Q4 2022 Held for 2y 11m	$2.1B
S SageView Advisory Group, LLC RIA/Wealth	John Turnbull Longley CEO	$6.0M 0.21% of portfolio	68.0K shares	Q4 2022 Held for 2y 11m	$2.9B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$4.4M 0.00% of portfolio	49.2K shares	Q4 2013 Held for 11y 11m	$1.65T
S Sageworth Trust Co Institution	-	$4.2M 0.20% of portfolio	47.5K shares	Q2 2025 Held for 5 months	$2.1B

Net Capital Flow

Institutional buying and selling activity for TLTD in Q3 2025

Traded: +$13.6M
Buyers: 31
Sellers: 24
Total Bought: +$19.7M
Total Sold: −$6.0M
Avg Position: $6.7M

Biggest Buyers

Institution	Net Bought	Current Position
F FLOW TRADERS U.S. LLC Institution	+$6.4M +72.6K shares	$6.4M 72.6K shares
NORTHERN TRUST CORP Institution	+$3.0M +33.5K shares	$346.4M 3.9M shares
SAGESPRING WEALTH PARTNERS, LLC RIA/Wealth	+$1.5M +17.2K shares	$1.8M 20.6K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$1.5M +17.1K shares	$37.4M 421.5K shares
JPMORGAN CHASE & CO Institution	+$1.5M +16.6K shares	$2.7M 31.0K shares
Cetera Investment Advisers RIA/Wealth	+$1.1M +12.8K shares	$3.2M 35.8K shares
BANK OF AMERICA CORP /DE/ Institution	+$807.0K +9.1K shares	$1.2M 13.0K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	+$769.2K +8.7K shares	$12.0M 135.5K shares
S STIFEL FINANCIAL CORP Long Only Manager	+$658.8K +7.4K shares	$658.8K 7.4K shares
VICTORY FINANCIAL GROUP, LLC RIA/Wealth	+$623.0K +7.0K shares	$623.0K 7.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
Eqis Capital Management, Inc. RIA/Wealth	−$981.5K −11.8K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$895.4K −10.7K shares	Sold Off 0 shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$803.0K −9.6K shares	Sold Off 0 shares
Efficient Advisors, LLC RIA/Wealth	−$794.2K −9.0K shares	$2.4M 27.3K shares
C CI Private Wealth, LLC RIA/Wealth	−$681.9K −8.2K shares	Sold Off 0 shares
Horizon Family Wealth, Inc. RIA/Wealth	−$463.5K −5.6K shares	Sold Off 0 shares
Global Retirement Partners, LLC RIA/Wealth	−$337.5K −4.0K shares	Sold Off 0 shares
S Sonoma Private Wealth LLC Institution	−$228.1K −2.7K shares	Sold Off 0 shares
AXXCESS WEALTH MANAGEMENT, LLC RIA/Wealth	−$220.7K −2.6K shares	Sold Off 0 shares
Kestra Advisory Services, LLC RIA/Wealth	−$175.3K −2.0K shares	$284.5K 3.2K shares

Entry and Exit Activity

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

New Positions: 3
New Value: $804.3K
Exited Positions: 10
Exited Value: $4.6M

New Positions

Institution	Position Value
VICTORY FINANCIAL GROUP, LLC RIA/Wealth	$623.0K 7.0K shares
GeoWealth Management, LLC RIA/Wealth	$124.2K 1.4K shares
CX Institutional RIA/Wealth	$57.1K 643.0 shares

Exited Positions

Institution	Previous Position
Eqis Capital Management, Inc. RIA/Wealth	$981.5K 11.8K shares
J JANE STREET GROUP, LLC Institution	$895.4K 10.7K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$803.0K 9.6K shares
C CI Private Wealth, LLC RIA/Wealth	$681.9K 8.2K shares
Horizon Family Wealth, Inc. RIA/Wealth	$463.5K 5.6K shares
Global Retirement Partners, LLC RIA/Wealth	$337.5K 4.0K shares
S Sonoma Private Wealth LLC Institution	$228.1K 2.7K shares
AXXCESS WEALTH MANAGEMENT, LLC RIA/Wealth	$220.7K 2.6K shares
Sound Income Strategies, LLC RIA/Wealth	$1.1K 14.0 shares
Riggs Asset Managment Co. Inc. RIA/Wealth	$585.0 7.0 shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Capstone Financial Advisors, Inc. RIA/Wealth	Troy E. Bute President	2.22% $40.9M	461.0K shares	Q4 2018 Held for 6y 11m	$1.8B
H Harbour Trust & Investment Management Co Institution	-	1.21% $11.7M	132.2K shares	Q4 2023 Held for 1y 11m	$967.4M
Trace Wealth Advisors, LLC RIA/Wealth	Peter Frank Heilbron President	0.91% $1.2M	13.7K shares	Q4 2024 Held for 11 months	$133.8M
Hanlon Investment Management, Inc. RIA/Wealth	William Francis Chisholm CIO	0.60% $992.4K	11.2K shares	Q1 2019 Held for 6y 8m	$165.8M
Discipline Wealth Solutions, LLC RIA/Wealth	Scott Allen Hayes President	0.55% $2.0M	23.0K shares	Q2 2024 Held for 1y 5m	$372.4M
F First PREMIER Bank Institution	-	0.52% $2.2M	24.7K shares	Q3 2024 Held for 1y 2m	$421.2M
F FLOW TRADERS U.S. LLC Institution	-	0.31% $6.4M	72.6K shares	Q4 2022 Held for 2y 11m	$2.1B
S SageView Advisory Group, LLC RIA/Wealth	John Turnbull Longley CEO	0.21% $6.0M	68.0K shares	Q4 2022 Held for 2y 11m	$2.9B
S Sageworth Trust Co Institution	-	0.20% $4.2M	47.5K shares	Q2 2025 Held for 5 months	$2.1B
LRI Investments, LLC RIA/Wealth	Hayley Ann Snell CCO	0.19% $2.3M	26.4K shares	Q1 2025 Held for 8 months	$1.2B