Concorde Asset Management disclosed a new position in the First Trust Senior Loan Fund (FTSL +0.07%) on June 1, 2026, acquiring 73,167 shares in an estimated $3.31 million trade based on quarterly average pricing.
What happened
According to a Securities and Exchange Commission (SEC) filing dated June 1, 2026, Concorde Asset Management initiated a new position in First Trust Senior Loan Fund by purchasing 73,167 shares. The estimated transaction value was $3.31 million based on the average unadjusted closing price for the quarter. The stake’s quarter-end valuation rose by $3.28 million.
What else to know
- This was a new position; the stake composed 1.61% of Concorde’s 13F assets under management after the filing.
- Top fund holdings as of the report:
- NYSEMKT: IVV: $13.65 million (6.7% of AUM)
- NASDAQ: QQQ: $6.67 million (3.3% of AUM)
- NYSEMKT: SPMO: $5.97 million (2.9% of AUM)
- NYSEMKT: SPY: $5.73 million (2.8% of AUM)
- NYSEMKT: BUFR: $5.09 million (2.5% of AUM)
- As of May 31, 2026, shares were priced at $44.94, down 2% over the past year.
ETF overview
| Metric | Value |
|---|---|
| AUM | $2.3 billion |
| Price (as of market close 2026-05-29) | $44.94 |
| 30-Day SEC Yield | 6.4% |
ETF snapshot
- FTSL is an actively managed ETF focused on providing high current income through a diversified portfolio of first lien senior floating-rate bank loans.
- The portfolio primarily consists of senior loans to North American businesses, with up to 20% allocated to other debt and equity securities.
- It is designed for investors seeking income and capital preservation, with objectives focused on high current income and preservation of capital.
The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund with an asset base of $2.3 billion, specializing in senior secured bank loans that offer floating-rate exposure. The fund’s investment strategy targets high current income while maintaining a focus on capital preservation, appealing to income-oriented investors and those seeking reduced interest rate sensitivity.
By investing predominantly in first lien senior loans, FTSL provides access to a diversified pool of corporate credit, primarily across North America. Its active management approach allows for dynamic portfolio adjustments in response to market conditions, positioning the fund as a flexible solution within the fixed income segment.
What this transaction means for investors
Concorde’s largest holdings are broad-market ETFs like IVV, QQQ, SPY, and SPMO, which suggests the firm is building diversified client portfolios. In that context, adding a senior loan fund appears aimed at boosting income while reducing interest-rate sensitivity.
That’s particularly relevant in today’s market. Unlike traditional bond funds, First Trust Senior Loan Fund invests primarily in floating-rate senior secured loans, meaning income can adjust as rates move. The fund currently manages roughly $2.3 billion in assets, holds more than 300 positions, and offers a 30-day SEC yield of 6.37%. Its effective duration is just 0.62 years, helping limit exposure to rising rates. The trade is also notable because it sits alongside an otherwise equity-heavy lineup. While Concorde’s largest holdings lean heavily toward broad stock market exposure, FTSL adds a different source of return tied to corporate credit rather than equity appreciation.
The tradeoff is that senior loans are not risk-free. Most of the portfolio sits below investment grade, with large allocations in B-rated credits. The ETF’s price has fallen 2% over the past year.
