FTLS vs FBT overlap
FTLS and FBT overlap 2.3% by weight, across 8 shared holdings.
Pick 2 to 4 ETFs.
Top shared holdings
| Holding | FTLS | FBT | Overlap |
|---|---|---|---|
| Gilead SciencesGILD | 0.91% | 2.45% | 0.91% |
| United TherapeutUTHR | 0.31% | 2.56% | 0.31% |
| Alnylam PharmaceALNY | 0.26% | 2.52% | 0.26% |
| Biogen Inc.BIIB | 0.24% | 3.37% | 0.24% |
| Incyte Corp.INCY | 0.19% | 3.18% | 0.19% |
| Arrowhead PharmaARWR | 0.17% | 3.38% | 0.17% |
| Axsome TherapeutAXSM | 0.13% | 3.71% | 0.13% |
| Halozyme TherapeHALO | 0.13% | 3.11% | 0.13% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: FTLS, SEC Form N-PORT, July 31, 2026; FBT, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | FTLS | FBT |
|---|---|---|
| First Trust Advisors LP | $61.4M | $840.0M |
| Morgan Stanley | $436.9M | $135.2M |
| Royal Bank of Canada | $197.4M | $52.1M |
| LPL Financial LLC | $174.8M | $64.1M |
| Ameriprise Financial Inc. | $179.0M | $18.7M |
| Wells Fargo & Company | $1.2M | $110.1M |
| Raymond James Financial Inc. | $45.9M | $54.9M |
| Cambridge Investment Research Advisors, Inc. | $55.3M | $21.1M |
| Cetera Investment Advisers | $41.7M | $12.0M |
| UBS Group AG | $147K | $50.9M |
| Envestnet Asset Management Inc. | $34.9M | $15.5M |
| Assetmark, Inc. | $43.2M | $6.1M |
| Truist Financial Corp. | $32.4M | $14.1M |
| Stifel Financial Corp. | $22.7M | $22.6M |
| Merit Financial Group, LLC | $39.0M | $575K |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: FTLS institutional holders, FBT institutional holders.
Frequently asked questions
How much do FTLS and FBT overlap?
2.3% by weight, with 8 holdings in common, using holdings for FTLS as of July 31, 2026 and FBT as of June 30, 2026. The largest shared position is GILD.
Do institutions hold both FTLS and FBT?
125 Form 13F filers report positions in both, out of 484 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.