Truist Remediates Late 13G, Confirms No Holdings in First Trust RFDI ETF

Rhea-AI Filing Summary

Truist Financial Corporation has filed Amendment No. 2 to Schedule 13G for the First Trust RiverFront Dynamic Developed International ETF (RFDI). The filing, dated 06/30/2025 and signed on 07/08/2025, reports that Truist—acting as parent holding company to its registered investment adviser affiliate—now beneficially owns 0 shares, representing 0.0 % of the ETF’s outstanding units. All voting and dispositive power fields are reported as zero, confirming no control over the securities.

The company states the amendment is part of an internal remediation effort to submit filings that were not previously delivered; it acknowledges that an ownership position below 5 % should have been reported in 2023. By certifying ordinary-course investment intent and no intent to influence control, Truist classifies itself under Rules 13d-1(b)(1)(ii)(E) (investment adviser) and (G) (parent holding company).

Key takeaways:

• Ownership level: 0 shares, 0.0 %.
• Reason for filing: Late compliance remediation; current stake below the 5 % reporting threshold.
• Impact: Routine disclosure with no material effect on RFDI’s governance or float.

Positive

• Zero ownership removes any perceived control or concentration risk related to Truist’s involvement with RFDI.
• Voluntary remediation indicates improved internal compliance controls at Truist.

Negative

• Late filing acknowledgment reveals Truist failed to submit the required sub-5 % report in 2023, indicating prior compliance weakness.

Insights

Equity Research Analyst

TL;DR: Truist confirms it holds no RFDI shares; amendment is purely compliance-driven and should not affect the ETF’s valuation.

The amendment discloses zero beneficial ownership, eliminating any residual concerns about Truist influencing ETF strategy or liquidity. Because RFDI is a passively managed ETF, the absence of a large institutional position removes potential concentration risk but otherwise has negligible financial ramifications. The late filing note is a procedural blemish, yet the SEC rarely imposes heavy penalties for self-remediated sub-5 % positions. Overall, the disclosure is neutral for both Truist and RFDI investors.

Compliance & Governance Specialist

TL;DR: Filing rectifies missed 2023 report; shows full regulatory compliance but highlights earlier administrative lapse.

The statement clarifies Truist’s role as both parent holding company and investment adviser, ticking the correct Rule 13d-1(b) boxes. By certifying ordinary-course intent, Truist avoids activism implications. The prior omission could attract SEC attention, yet self-remediation generally mitigates enforcement risk. From a governance lens, the action signals strengthened internal controls, albeit after an earlier oversight.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

FIRST TRUST EXCHANGE-TRADED FUND III

(Name of Issuer)

Exchange Traded Fund

(Title of Class of Securities)

33739P806

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 33739P806

1

Names of Reporting Persons

TRUIST FINANCIAL CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NORTH CAROLINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

IA, HC

Comment for Type of Reporting Person: Filing completed as part of internal effort to remediate filings not previously submitted. Current ownership is less than 5%. Filing of less than 5% ownership should have been submitted in 2023.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FIRST TRUST EXCHANGE-TRADED FUND III
(b)	Address of issuer's principal executive offices: 120 EAST LIBERTY DRIVE, 120 EAST LIBERTY DRIVE, WHEATON, ILLINOIS, 60187.
Item 2.
(a)	Name of person filing: Truist Financial Corporation as Parent Holding Company for Truist Advisory Services, Inc. an affiliated Registered Investment Advisor
(b)	Address or principal business office or, if none, residence: 214 North Tryon Street Charlotte, NC 28202
(c)	Citizenship: Truist Financial Corporation is a North Carolina Corporation; Truist Advisory Services, Inc. is a Delaware Corporation
(d)	Title of class of securities: Exchange Traded Fund
(e)	CUSIP No.: 33739P806
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TRUIST FINANCIAL CORP

Signature:	Edward M. Kwiatkowski
Name/Title:	Vice President
Date:	07/08/2025

FAQ

What percentage of RFDI does Truist Financial Corp (NYSE:TFC) currently own?

The filing states 0.0 % ownership (0 shares).

Why did Truist file this Schedule 13G/A for RFDI?

Truist says the filing is part of an internal effort to remediate reports not previously submitted; its current stake is below 5 %.

Does Truist have voting or dispositive power over RFDI shares?

No. The amendment reports 0 sole or shared voting and dispositive power.

What rules does Truist rely on for this filing?

It files under Rule 13d-1(b) as both an investment adviser (E) and a parent holding company (G).

When was the statement signed and by whom?

It was signed on 07/08/2025 by Edward M. Kwiatkowski, Vice President.

Is there any material impact on the First Trust RiverFront Dynamic Developed International ETF?

The disclosure is routine and has no material impact on the ETF’s operations or ownership structure.