What happened
According to a recent SEC filing, WIN Advisors, Inc. reduced its holdings in First Trust Large Cap Growth AlphaDEX Fund (FTC +1.75%) by 65,497 shares during the first quarter of 2026. The estimated transaction value was $10.6 million, calculated using quarterly average pricing. At quarter-end, the remaining position totaled 25,359 shares valued at $3.9 million.
What else to know
- WIN Advisors sold the majority of its FTC position, which now accounts for 1.8% of its 13F AUM.
- Top holdings after the filing:
- NYSE: PWB: $16.0 million (7.3% of AUM)
- NYSE: ILCB: $14.9 million (6.8% of AUM)
- NASDAQ: HGER: $14.5 million (6.7% of AUM)
- NYSE: CGDV: $11.5 million (5.2% of AUM)
- NYSE: VFMO: $11.0 million (5.0% of AUM)
- As of April 30, 2026, FTC shares were priced at $171.39, up about 29% over the past year, roughly matching the S&P 500 return over the same time period.
ETF overview
| Metric | Value |
|---|---|
| AUM | $1.2 billion |
| Expense ratio | 0.58% |
| Dividend yield | 0.22% |
| 1-year return (as of 4/30/26) | 29.16% |
ETF snapshot
The First Trust Large Cap Growth AlphaDEX Fund (FTC) is a passively managed exchange-traded fund that tracks the Nasdaq AlphaDEX Large Cap Growth Index.
- Uses a rules-based, quantitative methodology -- the AlphaDEX model -- to select and weight U.S. large-cap growth stocks based on growth and value factors, aiming to outperform traditional cap-weighted benchmarks.
- Structured as a transparent, index-based ETF, offering institutional and retail investors liquid, cost-efficient exposure to diversified U.S. large-cap growth equities.
What this transaction means for investors
WIN Advisors' decision to trim nearly $10.6 million worth of its FTC position is notable -- not because it signals trouble with the fund itself, but because of the size of the reduction. Selling three-quarters of what had been a nearly 7% position for WIN is a meaningful portfolio move.
It's also worth noting that the FTC sale didn't happen in isolation -- WIN's Q4 2025 13F shows the firm held positions in several other large-cap growth-oriented funds that it exited in Q1 2026, suggesting this was part of a broader reduction in growth equity exposure rather than a judgment specific to FTC.
FTC has had a nice run -- up about 29% over the past year, roughly matching the broader market. After a rally like that, portfolio managers frequently rebalance to lock in gains or bring position sizes back in line with internal allocation targets. WIN Advisors appears to be a diversified wealth manager rather than a concentrated hedge fund, and its remaining FTC stake -- while now just 1.8% of AUM -- shows it hasn't abandoned the position entirely. On a year-to-date basis, FTC is already up 7.3%, beating its large-growth benchmark by more than 15% so far in 2026.
For everyday investors, FTC may be worth a closer look as a complement to a diversified core portfolio -- its rules-based approach to large-cap growth offers a potential edge over traditional cap-weighted funds, though its added complexity and higher expense ratio (compared to a plain vanilla index fund) probably make it a better fit for those who already have broad market exposure than for those just starting out.
In short, whether this FTC transaction reflects routine portfolio management or a broader reassessment of large-cap growth exposure, WIN’S latest 13F filing suggests the FTC sale was just one piece of a much larger move.
