Truist Financial Files 13G/A for 23.06% Holding in First Trust UCON ETF

Rhea-AI Filing Summary

Truist Financial Corporation, acting as parent holding company for its registered investment adviser Truist Advisory Services, Inc., has filed Amendment No. 3 to Schedule 13G disclosing a sizeable passive stake in First Trust Exchange-Traded Fund VIII – First Trust Smith Unconstrained Bond ETF (ticker: UCON).

As of the event date 30 June 2025, Truist reports beneficial ownership of 276,682 shares, representing 23.06 % of UCON’s outstanding units. The filing indicates:

• Sole voting power: 0 shares – Truist does not exercise or retain proxy voting authority.
• Sole dispositive power: 276,682 shares – the firm may dispose of or direct the disposition of all reported units.
• Shared voting / dispositive power: 0 shares.

The shares are held in the ordinary course of business, and the filer certifies the investment was not made to influence or control the issuer, consistent with Rule 13d-1(b) requirements for institutional investors. Truist is classified as both an “IA” (Investment Adviser) and “HC” (Holding Company) under Item 3.

The Schedule 13G filing formally updates Truist’s ownership position and signals that an institutional manager now controls nearly a quarter of the ETF’s float. No financial performance metrics, earnings data, or transactional terms beyond share count and percentage are included.

Positive

• Institutional ownership concentration: Truist Financial Corp reports holding 23.06 % of outstanding UCON shares, signalling significant institutional interest and potential support for ETF liquidity.

Negative

• None.

Insights

Securities Analyst

TL;DR: Truist discloses 23 % passive stake in UCON ETF; no voting power, routine institutional ownership update, limited direct market impact.

The filing is a standard Section 13G update. While the 23 % ownership level is material for an ETF of this size, Truist explicitly claims passive intent and holds zero voting rights. Because no comparison to prior ownership is provided, investors cannot infer whether the position is new, increased, or reduced. The disclosure may bolster perceived institutional support for UCON but does not by itself change the fund’s strategy or governance. Overall, I view the news as neutral for both Truist and ETF unitholders.

Corporate Governance Expert

TL;DR: Large but passive stake; concentration noteworthy, yet no control-seeking intent—governance implications minimal.

With sole dispositive power over 276,682 units, Truist’s advisory arm can liquidate a significant block, potentially affecting ETF liquidity. However, the absence of voting authority eliminates direct governance influence. The certification under Item 10 aligns with a non-activist, ordinary-course investment. Unless Truist’s intent or voting power changes, the filing is not impactful to issuer control dynamics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

FIRST TRUST EXCHANGE-TRADED FUND VIII

(Name of Issuer)

Exchange Traded Fund

(Title of Class of Securities)

33740F797

(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. 33740F797

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 276,682.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

276,682.00

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)

23.1 %

12

Type of Reporting Person (See Instructions)

IA, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FIRST TRUST EXCHANGE-TRADED FUND VIII
(b)	Address of issuer's principal executive offices: 120 EAST LIBERTY DRIVE, SUITE 400, 120 EAST LIBERTY DRIVE, SUITE 400, 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.: 33740F797
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: 276682
(b)	Percent of class: 23.06 %
(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: 276,682.00
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	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:	07/14/2025

FAQ

How many UCON shares does Truist Financial Corp own?

Truist reports 276,682 shares beneficially owned as of 30 June 2025.

What percentage of the UCON ETF does this stake represent?

The position equals 23.06 % of the fund’s outstanding shares.

Does Truist have voting power over its UCON holdings?

No. The filing lists 0 shares with sole or shared voting power; the stake is entirely passive.

Is Truist seeking to influence control of First Trust Exchange-Traded Fund VIII?

The certification under Item 10 states the securities were acquired in the ordinary course and not for control purposes.

When was the Schedule 13G/A filed and signed?

The event date is 30 June 2025, and the statement was signed on 14 July 2025 by Vice President Edward M. Kwiatkowski.