FDL · First Trust Morningstar Dividend Leaders Index Fund · Holdings ETF

$52.85 +0.97 (+1.87%)

Volume · Oct 22 483.05K Avg daily vol (3M) 678.7K

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP →

Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.

Quarter:

Holders: 117

Total Value: $345,641,624

Total Shares: 7,038,112

Showing 1–100 of 117 holdings by value · page 1 of 2

Institutional Ownership Trend

27 quarters

Holder Concentration

Across 117 13F filers · Δ vs Jun 30, 2026

Top Holder

9.1%

−8.4 pts

Top 5

32.3%

−10.4 pts

Top 10

49.7%

−6.5 pts

HHI

360

Broadly held−191

Who Holds FDL

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 498 filers, like-for-like change +2.6%; actively managed books +3.0%; index-like books -0.4%.

Holder type	Share	Filers	Change	New	Exited
Registered adviser	28.8%	350	+0.2%	21	28
Exempt adviser	0.1%	1	+98.2%	0	0
Adviser	6.9%	4	+6.9%	0	0
Bank	13.4%	20	-2.3%	0	1
Broker-dealer	17.5%	1	+11.7%	0	0
Non-US	0.6%	2	-52.7%	0	0
Holding company	12.6%	6	+2.1%	0	0
Unknown	20.1%	114	+4.7%	13	9

Style	Share	Filers	Change	New	Exited
Index-like	10.4%	7	-0.4%	1	0
Systematic-like	0.3%	5	+57.5%	2	1
Concentrated	9.6%	136	+2.9%	6	16
Diversified active	79.7%	349	+2.9%	25	20
Unknown	0.0%	0	-100.0%	0	1
Not measured	0.0%	1	0.0%	0	0

Turnover	Share	Filers	Change	New	Exited
Low turnover	88.3%	348	+3.7%	20	16
Medium turnover	9.9%	95	-5.4%	6	13
High turnover	0.6%	13	-18.0%	4	5
Unknown	1.2%	41	+8.6%	4	4
Not measured	0.0%	1	0.0%	0	0

Holding horizon	Share	Filers	Change	New	Exited
Short horizon	1.3%	42	+4.7%	7	7
Medium horizon	11.3%	130	-1.9%	12	14
Long horizon	85.9%	313	+3.3%	15	12
Unknown	1.5%	12	+2.1%	0	5
Not measured	0.0%	1	0.0%	0	0

13F book size	Share	Filers	Change	New	Exited
Under $1B	11.7%	239	-2.1%	23	26
$1B to $10B	11.3%	165	+2.6%	8	7
$10B to $100B	16.7%	63	+2.9%	0	4
$100B or more	60.3%	30	+3.5%	3	1
Not measured	0.0%	1	0.0%	0	0

Client base	Share	Filers	Change	New	Exited
Individuals and high net worth	28.0%	332	0.0%	18	25
Pooled investment vehicles	0.1%	2	-12.5%	1	1
Registered funds and BDCs	0.2%	1	+2.0%	0	0
Pension and profit sharing plans	0.3%	5	+28.9%	0	1
Charitable organizations	0.0%	1	new	1	0
Corporations	0.0%	1	-11.5%	0	0
Other investment advisers	0.0%	3	+10.3%	1	0
Diversified	0.1%	5	+0.5%	0	0
Governments and sovereign funds	0.0%	0	-100.0%	0	1
Insurance companies	0.0%	0	—	0	0
Other	0.0%	0	—	0	0
Unknown	71.2%	148	+3.7%	13	10

Private funds	Share	Filers	Change	New	Exited
Hedge funds	0.7%	12	-1.4%	1	5
Private equity funds	0.5%	9	-11.2%	1	1
Venture capital funds	0.1%	1	+114.3%	0	0
Real estate funds	0.3%	5	+11.7%	0	1
Securitized asset funds	0.1%	1	0.0%	0	0
Other private funds	0.9%	14	-3.8%	0	0
Mixed private funds	0.0%	2	+17.5%	0	0
Private funds, type not stated	0.0%	2	+71.7%	0	0
No private funds	26.3%	305	+0.5%	19	21
Unknown	71.0%	147	+3.6%	13	10

Location	Share	Filers	Change	New	Exited
United States	94.4%	489	+2.7%	33	36
Outside the US	5.6%	9	+2.3%	1	2

The Sep 30, 2026 filing window is still open, so its bar shows only the filers that have filed so far.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Excluded 5 holders with no observed 2026-03-31 13F and 9 holders with no observed 2026-06-30 13F.

Conviction and Crowding

497 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders

16.1% of filers hold it in their top 10

Mar 31, 2026: 77

Holders above 5%

median weight 0.056%

Mar 31, 2026: 11

Crowding

—

shares outstanding is an issuer-wide count, not one listing's

Private-fund advisers

—

of shares outstanding

Institutional ownership

—

shares outstanding is an issuer-wide count, not one listing's

Top 10 holders

56.2%

of 13F shares, Herfindahl 0.055

Active holders

+3.0%

like-for-like share change of active filers

5% stakes on record

0 13D, 0 13G

How long holders have held it value-weighted 20.9 quarters

Under 1 year 3.25% 1 to 3 years 19.3% 3 years or more 77.5% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$41.93

estimated per share

Mar 31, 2026: $41.68

Quarter-end price

$48.64

implied by 13F values

Estimated gain or loss

+16.0%

price against the estimated cost

Estimated at a loss

7.14%

of costed 13F value

Estimated cost covers 23.5% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Fund Ownership of FDL by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 0 shares.

Fund type	Shares	Funds
Index funds	0	0
Index ETFs	0	0
Active ETFs	0	0
Active funds	10,965	1
Unclassified	0	0
All registered funds	10,965	1

How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Quarterly Activity

vs Jun 30, 2026

New

Increased

Decreased

Sold Out

Unchanged

New and Sold Out count only filers that reported a 13F for both quarters: a first-time filer's book is not a buy, and a fund that has not filed, or withheld its positions under confidential treatment, has not sold.

Holder count: -385

Institutional value: -92.2%

Shares held: -92.3%

Top Buyers

vs Jun 30, 2026

Institution	Added	Now Holds
Small Beacon Financial Advisory LLC	+80,933	149,104
Small Fairvoy Private Wealth, LLC	+47,495	170,692
Small Randall & Associates Wealth Management	+42,129	205,874
Small Maia Wealth LLC	+41,468	159,626
Large Concurrent Investment Advisors, LLC	+38,939	154,656

Top Sellers

vs Jun 30, 2026

Institution	Sold	Now Holds
Small Hidden Cove Wealth Management, LLC	−16,444	98,986
Mid First Heartland Consultants, Inc.	−12,362	26,970
Small Comprehensive Financial Consultants Institutional, Inc.	−11,616	42,522
Small Balefire, LLC	−11,392	43,119
Mid McAdam, LLC	−11,252	270,223

Top New Positions

vs Jun 30, 2026

Institution	Acquired	Value (USD)
Small ARWA LLC	44,684	$2,194,431
Mid Dynamic Advisor Solutions LLC	15,497	$761,057
Small 1834 INVESTMENT ADVISORS CO	13,355	$655,864
Micro COLUMBIA ADVISORY PARTNERS LLC	5,378	$264,113
Small Community Bank & Trust, Waco, Texas	4,415	$216,820

Top Sold-Out Positions

vs Jun 30, 2026

Institution	Previously Held	Last Value (USD)
Small PCA Investment Advisory Services Inc.	13,121	$638,467
Small SageOak Financial, LLC	5,067	$246,560
Mid TITLEIST ASSET MANAGEMENT, LLC	4,155	$202,182
Small Global Trust Asset Management, LLC	400	$19,464
Mid AdvisorNet Financial, Inc	166	$8,077

Filter: New 10 Increased 51 Reduced 35 Sold out 6 Unchanged 20

Holder type: Registered adviser 80 Bank 2 Unknown 35

Showing 100 of 117

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

TRUE Private Wealth Advisors FDL

$31,385,218

9.08%

639,080

Southland Equity Partners LLC FDL

$28,640,804

8.29%

583,197

BEACON FINANCIAL GROUP FDL

$23,608,797

6.83%

480,733

MANCHESTER FINANCIAL INC FDL

$14,577,812

4.22%

296,840

McAdam, LLC FDL

$13,270,651

3.84%

270,223

Hobart Private Capital, LLC FDL

$13,080,153

3.78%

266,344

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
AE Wealth Management LLC	946	$46,458	0.4%	Defined
Held directly	265,398	$13,033,695	99.6%	Sole

Summit Financial Wealth Advisors, LLC FDL

$12,899,969

3.73%

262,675

Next Level Private LLC FDL

$12,365,505

3.58%

251,792

PERRYMAN FINANCIAL ADVISORY INC /AD FDL

$11,657,682

3.37%

237,379

Key Client Fiduciary Advisors, LLC FDL

$10,299,201

2.98%

209,717

Randall & Associates Wealth Management FDL

$10,110,472

2.93%

205,874

Fairvoy Private Wealth, LLC FDL

$8,382,684

2.43%

170,692

Investors Research Corp FDL

$7,871,301

2.28%

160,279

Maia Wealth LLC FDL

$7,839,232

2.27%

159,626

Concurrent Investment Advisors, LLC FDL

$7,595,156

2.20%

154,656

Beacon Financial Advisory LLC FDL

$7,322,497

2.12%

149,104

Avior Wealth Management, LLC FDL

$7,218,138

2.09%

146,979

Farther Finance Advisors, LLC FDL

$6,966,057

2.02%

141,846

Milestones Private Investment Advisors LLC FDL

$6,547,148

1.89%

133,316

WEALTH ENHANCEMENT ADVISORY SERVICES, LLC FDL

$6,244,680

1.81%

127,157

CFS Investment Advisory Services, LLC FDL

$5,907,785

1.71%

120,297

Hidden Cove Wealth Management, LLC FDL

$4,861,202

1.41%

98,986

Wisconsin Wealth Advisors, LLC FDL

$4,723,694

1.37%

96,186

ROI Financial Advisors, LLC FDL

$3,553,403

1.03%

72,356

FOUNDERS GROVE WEALTH PARTNERS, LLC FDL

$3,406,858

0.99%

69,372

DAVENPORT & Co LLC FDL

$3,207,668

0.93%

65,316

Teamwork Financial Advisors, LLC FDL

$2,965,458

0.86%

60,384

WETZEL INVESTMENT ADVISORS, INC. FDL

$2,825,691

0.82%

57,538

INDEPENDENT FINANCIAL GROUP, LLC FDL

$2,598,360

0.75%

52,909

Avidian Wealth Enterprises, LLC FDL

$2,517,280

0.73%

51,258

Triumph Capital Management FDL

$2,457,071

0.71%

50,032

Wagner Wealth Management, Corp FDL

$2,256,211

0.65%

45,942

ARWA LLC FDL

$2,194,431

0.63%

44,684

Balefire, LLC FDL

$2,117,574

0.61%

43,119

Comprehensive Financial Consultants Institutional, Inc. FDL

$2,088,255

0.60%

42,522

Quad-Cities Investment Group, LLC FDL

$2,066,303

0.60%

42,075

Lighthouse Wealth Management Inc. FDL

$1,940,974

0.56%

39,523

STACKSTONE WEALTH, LLC FDL

$1,865,001

0.54%

37,976

1900 WEALTH MANAGEMENT LLC FDL

$1,835,437

0.53%

37,374

IFP Advisors, Inc FDL

$1,817,315

0.53%

37,005

Retirement Planning Group, LLC FDL

$1,686,732

0.49%

34,346

PRIVATE TRUST CO NA FDL

$1,682,164

0.49%

34,253

Neumann Capital Management, LLC FDL

$1,559,242

0.45%

31,750

Atria Investments, Inc FDL

$1,493,336

0.43%

30,408

B. Riley Wealth Advisors, Inc. FDL

$1,436,713

0.42%

29,255

First Heartland Consultants, Inc. FDL

$1,324,496

0.38%

26,970

New England Private Wealth Advisors LLC FDL

$1,283,784

0.37%

26,141

TCFG Investment Advisors, LLC FDL

$1,261,832

0.37%

25,694

Commonwealth Financial Services, LLC FDL

$1,252,894

0.36%

25,512

Diversified Enterprises, LLC FDL

$1,248,277

0.36%

25,418

Altus Wealth Group LLC FDL

$1,237,670

0.36%

25,202

Archford Capital Strategies, LLC FDL

$1,111,064

0.32%

22,624

RFG - Bristol Wealth Advisors, LLC FDL

$1,030,573

0.30%

20,985

SIGNATURE ESTATE & INVESTMENT ADVISORS LLC FDL

$995,165

0.29%

20,264

Crumly & Associates Inc. FDL

$958,823

0.28%

19,524

Vontobel Holding Ltd. FDL

$935,938

0.27%

19,058

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BANK VONTOBEL AG	19,058	$935,938	100.0%	Defined

tru Independence LLC FDL

$839,879

0.24%

17,102

KMG FIDUCIARY PARTNERS, LLC FDL

$835,950

0.24%

17,022

Connecticut Wealth Management, LLC FDL

$834,870

0.24%

17,000

Bell Bank FDL

$767,638

0.22%

15,631

Accel Wealth Management FDL

$763,120

0.22%

15,539

Dynamic Advisor Solutions LLC FDL

$761,057

0.22%

15,497

Sowell Financial Services LLC FDL

$751,726

0.22%

15,307

Finward Bancorp FDL

$723,193

0.21%

14,726

Krilogy Financial LLC FDL

$713,862

0.21%

14,536

PFG Advisors FDL

$712,733

0.21%

14,513

CoreCap Advisors, LLC FDL

$684,200

0.20%

13,932

Weaver Consulting Group FDL

$676,293

0.20%

13,771

Urban Wealth Management, LLC FDL

$657,091

0.19%

13,380

1834 INVESTMENT ADVISORS CO FDL

$655,864

0.19%

13,355

NWF Advisory Services Inc. FDL

$565,501

0.16%

11,515

Asset Allocation Strategies LLC FDL

$484,175

0.14%

9,859

ASSETMARK, INC FDL

$472,192

0.14%

9,615

Financial Harvest, LLC FDL

$445,083

0.13%

9,063

Sound Income Strategies, LLC FDL

$431,578

0.12%

8,788

Cyndeo Wealth Partners, LLC FDL

$429,663

0.12%

8,749

Sloy Dahl & Holst, LLC FDL

$428,730

0.12%

8,730

PROMETHIUM ADVISORS,LLC FDL

$412,524

0.12%

8,400

TrueWealth Advisors, LLC FDL

$409,528

0.12%

8,339

James T. Borello RIA FDL

$408,546

0.12%

8,319

TD Waterhouse Canada Inc. FDL

$407,662

0.12%

8,301

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
TORONTO DOMINION BANK	8,301	$407,662	100.0%	Defined

Paragon Private Wealth Management, LLC FDL

$392,585

0.11%

7,994

WESPAC Advisors SoCal, LLC FDL

$370,780

0.11%

7,550

EQUITABLE TRUST CO FDL

$344,015

0.10%

7,005

Heartwood Wealth Advisors LLC FDL

$338,859

0.10%

6,900

RDA Financial Network FDL

$335,568

0.10%

6,833

IAMS WEALTH MANAGEMENT, LLC FDL

$306,790

0.09%

6,247

STERLING INVESTMENT MANAGEMENT, LLC FDL

$284,838

0.08%

5,800

Wealthcare Advisory Partners LLC FDL

$282,971

0.08%

5,762

COLUMBIA ADVISORY PARTNERS LLC FDL

$264,113

0.08%

5,378

Wise Wealth Partners FDL

$258,662

0.07%

5,267

PUFF WEALTH MANAGEMENT, LLC FDL

$231,700

0.07%

4,718

Community Bank & Trust, Waco, Texas FDL

$216,820

0.06%

4,415

Pinnacle Bancorp, Inc. FDL

$152,142

0.04%

3,098

Roxbury Financial LLC FDL

$150,620

0.04%

3,067

Pillar Financial Advisors, LLC FDL

$128,913

0.04%

2,625

WOLFF WIESE MAGANA LLC FDL

$122,529

0.04%

2,495

GAMMA Investing LLC FDL

$110,301

0.03%

2,246

FIRST FINANCIAL CORP /IN/ FDL

$92,081

0.03%

1,875

THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. FDL

$60,355

0.02%

1,229

Showing the top 100 of 117 holders. Create a free account to see every holder, past quarters, search, filters and CSV export.