Bank Portfolio Expansion
Camden National Bank Expands Portfolio with Increased ETF Holdings and New Stakes
Anonymous
Camden National Bank increased its position in the iShares 1-3 Year Treasury Bond ETF (SHY) by 6.4% in the fourth quarter, adding shares to hold 156,379 units worth about $12.95 million, where the ETF makes up roughly 1.8% of its portfolio. The bank also raised its stake in the iShares Core S&P Mid-Cap ETF (IJH) by 39.1%, bringing holdings to 54,171 shares valued at approximately $3.58 million. It purchased a new position in the iShares Core Dividend Growth ETF (DGRO), buying 26,559 shares worth about $1.84 million. Camden National Bank further took a new stake in the Vanguard Tax-Exempt Bond ETF (VTEB), purchasing 13,989 shares valued at roughly $704,000, as other institutional investors made additional changes across these same funds.
Key Points
1
Camden National Bank’s SHY position was not only about 1.8% of its portfolio—it was also described as its 20th-largest holding, and Camden owned roughly 0.05% of the iShares 1-3 Year Treasury Bond ETF; the filing also notes that institutional investors and hedge funds hold 23.15% of SHY.
2
For IJH, the article lists additional institutional activity beyond Camden’s increase—for example, Maryland Capital Advisors Inc. boosted its IJH stake by 240.7% in the fourth quarter (ending with 552 shares valued at about $36,000).
3
For DGRO, another institutional move highlighted is AQR Capital Management LLC, which increased its DGRO stake by 95.4% (first quarter), ending with 13,842 shares valued at about $855,000 after buying an additional 6,758 shares.
4
VTEB context from the article: Vanguard Tax-Exempt Bond ETF (VTEB) “mostly invests in investment grade fixed income,” tracking a market-weighted index of investment-grade state and local government and agency debt, with interest exempt from U.S. income tax and AMT; the ETF was launched Aug. 21, 2015 and is managed by Vanguard.
5
The VTEB article also spotlights a sharp repositioning by Rothschild Investment LLC, which “lifted its stake…by 653.8%” in the fourth quarter—ending with 490 shares valued at about $25,000 after purchasing 425 additional shares.
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