Q3 ETF Portfolio Shifts
Boltwood Capital Management Makes Mixed Adjustments to Five ETF Holdings in Q3
Anonymous
Key Points
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Even after trimming its iShares MBS ETF stake, Boltwood held 147,239 shares worth $13.196 million; MBB represented about 3% of its portfolio and was its fifth-largest holding.
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After its 83.1% reduction in the iShares 20+ Year Treasury Bond ETF, Boltwood’s remaining 17,709 shares were valued at $1.377 million.
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The iShares MSCI South Korea ETF was trading at $191.88 in Friday trading, up $5.77; the article reported a 52-week range of $80.63 to $220.89.
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The Schwab U.S. Small-Cap ETF had a reported market capitalization of $22.75 billion, price-to-earnings ratio of 17.65, and beta of 1.11.
Boltwood Capital Management made strategic shifts across five ETFs in the third quarter, buying into small-cap stocks and international markets while trimming bond holdings. The firm opened new positions in the Schwab U.S. Small-Cap ETF (117,680 shares, $3.84 million), the iShares MSCI South Korea ETF (4,970 shares, $908,000), and the Vanguard Real Estate ETF (5,660 shares, $507,000), according to Watchlist News.
Simultaneously, Boltwood cut its iShares MBS ETF stake by 35% to 147,239 shares and slashed its iShares 20+ Year Treasury Bond ETF holdings by 83.1% to 17,709 shares. These moves suggest the firm is rotating away from bonds toward equities and alternative assets.
New Bets on Small Caps and South Korea
Boltwood's largest new purchase was the Schwab U.S. Small-Cap ETF, with 117,680 shares valued at $3.84 million. The fund carries a price-to-earnings ratio of 17.65 and a beta of 1.11, suggesting slightly higher volatility than the broader market. The fund manages $22.75 billion in assets, according to Watchlist News.
The firm also entered South Korea exposure through the iShares MSCI South Korea ETF. It bought 4,970 shares worth $908,000. The ETF was trading at $191.88 on Friday, up $5.77 from the previous close, with a 52-week range of $80.63 to $220.89, Watchlist News reported.
Pulling Back From Bonds Aggressively
Boltwood's steepest reduction was in the iShares 20+ Year Treasury Bond ETF, cutting holdings by 83.1% to just 17,709 shares worth $1.377 million. This dramatic move away from long-term bonds signals the firm may be repositioning amid higher interest rates or changing economic expectations, according to Watchlist News.
The firm also trimmed its mortgage-backed securities exposure, reducing iShares MBS ETF shares by 35% to 147,239 shares worth $13.196 million. Despite the cut, MBB remained Boltwood's fifth-largest holding and represented about 3% of its portfolio, Watchlist News noted.
Real Estate Enters the Portfolio
Boltwood added a modest position in the Vanguard Real Estate ETF with 5,660 shares worth $507,000. This move suggests diversification into alternative assets alongside the firm's shift toward equities. Real estate investments offer different economic drivers than bonds or stocks, potentially hedging against inflation or market swings.
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