Foundations Investment Advisors Files 13G: 737,087 UCON Shares Held

Rhea-AI Filing Summary

Foundations Investment Advisors, LLC filed Amendment No. 2 to Schedule 13G disclosing a large holding in First Trust Exchange-Traded Fund VIII – First Trust Smith Unconstrained Bond ETF (UCON). As of 30 June 2025, the Arizona-based registered investment adviser beneficially owned 737,087 shares, equal to 38.3 % of the ETF’s outstanding units. The firm reports sole dispositive power over the entire stake but no voting power, indicating authority to trade the shares without influencing proxy matters. The filing is made under Rule 13d-1(b) applicable to investment advisers and was signed by CCO Marc Pugsley on 28 July 2025. No group membership, subsidiary involvement, or other reportable relationships are indicated.

Positive

• 38.3 % beneficial ownership demonstrates strong institutional demand for UCON.
• 737,087 shares under sole dispositive power provide clear, centralized trading authority.

Negative

• 0 voting power means the large holder cannot influence proxy decisions despite its size.

Insights

Securities Analyst

TL;DR: Adviser now controls 38.3 % of UCON, trading authority only, limited governance impact.

The 13G/A shows Foundations Investment Advisors amassed 737,087 UCON shares, a material concentration for an ETF of this size. Because voting power is reported as zero, the stake is likely managed on behalf of clients under discretionary mandates, limiting any direct influence on fund operations. Still, sole dispositive control means the adviser can swiftly add or liquidate positions, potentially affecting secondary-market liquidity. The disclosure, made under Rule 13d-1(b) for investment advisers, is routine but highlights that a single institution holds more than one-third of the shares, a notable datapoint for market participants monitoring ownership dynamics.

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 VIII

(Name of Issuer)

Exchange Traded Product

(Title of Class of Securities)

33740F375

(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. 33740F375

1

Names of Reporting Persons

FOUNDATIONS INVESTMENT ADVISORS, LLC

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

ARIZONA

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 737,087.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

737,087.00

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)

38.3 %

12

Type of Reporting Person (See Instructions)

IA

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, WHEATON, ILLINOIS 60187
Item 2.
(a)	Name of person filing: FOUNDATIONS INVESTMENT ADVISORS, LLC
(b)	Address or principal business office or, if none, residence: 4050 E. COTTON CENTER BLVD. SUITE 40 PHOENIX, Arizona 85040
(c)	Citizenship: FOUNDATIONS INVESTMENT ADVISORS, LLC - ARIZONA
(d)	Title of class of securities: Exchange Traded Product
(e)	CUSIP No.: 33740F375
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: 737,087
(b)	Percent of class: 38.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
	(ii) Shared power to vote or to direct the vote: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
	(iii) Sole power to dispose or to direct the disposition of: FOUNDATIONS INVESTMENT ADVISORS, LLC - 737,087
	(iv) Shared power to dispose or to direct the disposition of: FOUNDATIONS INVESTMENT ADVISORS, LLC - 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:
	Not Applicable

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.

FOUNDATIONS INVESTMENT ADVISORS, LLC

Signature:	/s/Marc Pugsley
Name/Title:	CCO
Date:	07/28/2025

FAQ

How many UCON shares does Foundations Investment Advisors hold?

The filing states the adviser beneficially owns 737,087 shares.

What percentage of UCON’s outstanding shares does this represent?

Their position equals 38.3 % of the ETF’s outstanding units.

Does Foundations Investment Advisors have voting power over its UCON stake?

No. The Schedule 13G reports zero voting power for the adviser.

When was the ownership position measured?

The relevant event date is 30 June 2025.

Under which SEC rule was this Schedule 13G filed?

It was filed pursuant to Rule 13d-1(b) for registered investment advisers.