First Trust Reports 27% Stake in FT Vest Equity Buffer ETF - July Series
Three affiliated Illinois-based entities jointly disclose significant holdings in the actively managed ETF.
April 09, 2025
First Trust Discloses Major Holding in Buffered Equity ETF
Three First Trust entities have reported a combined 27.03% stake in the FT Vest U.S. Equity Enhance & Moderate Buffer ETF – July. That’s 500,060 shares, disclosed in a recent joint Schedule 13G filed with the SEC.
The filing comes from First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation —all operating out of Wheaton, Illinois. Together, they disclosed shared power over voting and disposition of the ETF’s shares, but none holds sole authority in either category. Instead, the shares are held across multiple unit investment trusts sponsored by First Trust Portfolios, with voting handled by the trusts’ trustees. These votes are designed to reflect the broader shareholder base outside the trusts, closely matching the way unaffiliated investors cast their ballots.
While First Trust Portfolios acts as the sponsor, First Trust Advisors supervises the portfolios. The Charger Corporation serves as general partner for both. Each entity plays a distinct operational role, but their interests align when it comes to disclosing ownership across these vehicles.
Importantly, the firms clarified that no individual trust holds more than 3% of any one issuer. This matters because it limits concentration risk and regulatory complexity. Also noted: some of the reported shares aren’t in unit trusts at all, but in other registered funds or separately managed accounts advised by First Trust Advisors. Regardless of the account type, the total reported shares sit just above 27% of the ETF’s class.
The filing is clear on intent. The shares were acquired and are held in the ordinary course of business —not to steer the issuer’s control or direction. The three entities disclaimed beneficial ownership in the filing, and each signed off on the joint statement through CFO James M. Dykas on April 7, 2025.
This is a typical example of how affiliated investment firms coordinate disclosures for passive holdings that still cross critical ownership thresholds. When positions like this emerge, transparency requirements trigger formal filings, making sure the broader market stays informed.
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