[SCHEDULE 13G] First Trust Smith Unconstrained Bond ETF SEC Filing

Rhea-AI Filing Summary

On 07/28/2025, Foundations Investment Advisors, LLC filed a Schedule 13G revealing a 5.5 % passive ownership stake in First Trust Exchange-Traded Fund VIII (ticker UCON, CUSIP 33740F250) based on holdings as of 06/30/2025. The firm reports 331,884 ETF units under beneficial ownership, with sole dispositive power and no voting power. Foundations is classified as an investment adviser ("IA") under Rule 13d-1(b) and certifies the position was acquired in the ordinary course, not to influence control. No other material transactions or financial metrics are disclosed.

Positive

• Institutional ownership exceeds 5%, signalling growing professional investor interest in UCON.
• Sole dispositive power indicates the adviser fully controls exit timing, which can support liquidity.

Negative

• No voting power limits any potential governance influence or activist catalyst.

Insights

Securities Analyst

TL;DR: Passive 5.5% stake by an IA signals modest institutional support; limited governance impact.

The filing shows Foundations Investment Advisors accumulated 331,884 UCON units, crossing the 5% disclosure threshold. Because the adviser claims no voting power, the stake is purely economic, suggesting portfolio allocation rather than an activist move. While the additional institutional ownership may improve secondary-market liquidity and perceived demand for the ETF, it does not alter governance because ETFs have no traditional board control to influence. Overall market impact should be limited unless other large holders emerge.

ETF Specialist

TL;DR: New 5.5% owner may tighten spreads and boost AUM optics, but no control implications.

For exchange-traded products, concentrated positions by RIA platforms often translate into steadier primary-market creations and tighter bid-ask spreads, benefiting all shareholders. Foundations’ sole dispositive power allows them to adjust holdings quickly, potentially adding short-term flow volatility, yet the absence of voting power underscores a passive stance. From an operational standpoint, exceeding the 5% mark marginally enhances UCON’s assets under management, which can aid marketing but is not a game-changer.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

FIRST TRUST EXCHANGE-TRADED FUND VIII

(Name of Issuer)

Exchange Traded Product

(Title of Class of Securities)

33740F250

(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. 33740F250

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 331,884.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

331,884.00

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)

5.5 %

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.: 33740F250
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: 331,884
(b)	Percent of class: 5.5 %
(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 - 331,884
	(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:

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.

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 discloses 331,884 units owned as of 06/30/2025.

What percentage of UCON does the 331,884-unit position represent?

It represents 5.5 % of the ETF’s outstanding shares.

Does Foundations Investment Advisors have voting power in UCON?

No. The Schedule 13G states zero sole or shared voting power.

Why did Foundations file a Schedule 13G?

Crossing the 5 % ownership threshold requires disclosure under SEC Rule 13d-1.

Is the stake intended to influence control of the ETF?

The certification affirms the position is held in the ordinary course, not to influence control.