Concorde's Q1 Portfolio Rebalance
Concorde Asset Management Shifts Fund Strategy, Adds New Positions in Q1.
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Key Points
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MQY has a notable level of institutional ownership, with hedge funds and other institutional investors owning about 25.51% of BlackRock MuniYield Quality Fund, Inc., according to the article detailing Concorde's new 45,476-share stake.
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First Trust Senior Loan ETF (FTSL) is Concorde's 16th-largest position, representing roughly 1.6% of its portfolio, with Concorde holding about 0.15% of FTSL at the end of the most recent quarter.
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iShares Russell Top 200 Growth ETF (IWY) remains a relatively modest portion of Concorde's portfolio at 16,192 shares (about 2.0% of holdings) and ranks as the 13th-largest position after a sale of 8,222 shares.
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Invesco S&P SmallCap Momentum ETF (XSMO) saw Concorde acquire 19,226 shares for roughly $1.46 million; the article also provides XSMO trading context, noting a 50-day moving average of $88.67 and a 200-day moving average of $83.05, with an opened price of $86.76.
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Beyond Concorde’s moves, the SPMO focus shows broader activity: Capstone Wealth Management Group LLC boosted SPMO by 129.4% to 116,148 shares; Jane Street Group LLC increased to 40,389 shares; Goldman Sachs Group opened a new stake in SPMO worth about $18.9 million.
Concorde Asset Management made a string of portfolio moves in the first quarter, opening new positions and trimming others across five different ETFs and closed-end funds, according to Watchlist News. The firm's biggest new bet was a $3.28 million stake in First Trust Senior Loan ETF (FTSL), which immediately became its 16th-largest holding.
At the same time, Concorde cut its position in iShares Russell Top 200 Growth ETF (IWY) by 33.7% and trimmed its Invesco S&P 500 Momentum ETF (SPMO) stake by 33.4%. The moves paint a picture of a firm rotating away from large-cap growth and toward income and loan-focused products.
New Stakes in Senior Loans and Muni Bonds
Concorde's largest new position was 73,167 shares of FTSL, worth roughly $3.28 million, according to Watchlist News. FTSL is a senior loan ETF, meaning it holds floating-rate loans made to companies. These loans tend to hold up better when interest rates stay high. The position now makes up about 1.6% of Concorde's total portfolio.
The firm also opened a fresh $502,000 position in BlackRock MuniYield Quality Fund (MQY), buying 45,476 shares. MQY is a closed-end fund that invests in municipal bonds. Institutional investors, including hedge funds, own about 25.51% of MQY overall, per Watchlist News.
Concorde Buys Small-Cap Momentum, Cuts Large-Cap Growth
Concorde picked up 19,226 shares of Invesco S&P SmallCap Momentum ETF (XSMO), valued at about $1.46 million, according to Watchlist News. XSMO tracks small-cap stocks with strong recent price trends. The ETF traded near $86.76 at the time, above its 200-day average of $83.05 but below its 50-day average of $88.67.
On the selling side, Concorde shed 8,222 shares of IWY, cutting its stake to 16,192 shares. IWY tracks the top 200 large-cap growth stocks in the US. It now ranks as Concorde's 13th-largest holding and makes up about 2.0% of its portfolio.
SPMO Remains a Top-Three Hold Despite Trim
Concorde cut its SPMO position by 33.4%, selling down to 53,272 shares. Even after the trim, SPMO remains the firm's third-largest holding, worth about $5.97 million. SPMO tracks S&P 500 stocks with the strongest recent price momentum — a strategy that bets on winners keeping on winning.
Concorde is not alone in holding SPMO. Ticker Report noted that Capstone Wealth Management Group LLC boosted its SPMO stake by 129.4% to 116,148 shares. Goldman Sachs Group opened a brand-new position worth about $18.9 million. Jane Street Group LLC also increased its holdings to 40,389 shares.
Broader Trimming: Cloud Tech and Dividend ETFs Cut Back
Concorde also trimmed two other positions during the quarter. It cut its stake in First Trust Cloud Computing ETF (SKYY) by 15.5%, selling 4,990 shares and keeping 27,288, per Watchlist News. It reduced its First Trust Rising Dividend Achievers ETF (RDVY) position by 16.8%, leaving it with 37,270 shares, as reported by both Watchlist News and Ticker Report.
Taken together, the moves show Concorde pulling back from high-growth tech and dividend-growth equity strategies. It is putting fresh money into areas tied to floating-rate debt and small-cap momentum — a shift that suggests the firm is hedging against a prolonged high-rate environment.
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