Waverly Portfolio Expansion
Waverly Advisors Significantly Increases Holdings Across Multiple Major ETFs And Utility Stocks
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Key Points
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Institutional investors own 59.67% of the iShares Gold Trust, while the fund traded at $81.95 and had a one-year range of $68.17 to $104.40 as of Tuesday.
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Institutional and hedge-fund investors own 83.63% of the iShares Core U.S. Aggregate Bond ETF; AGG traded at $96.90 and had a 52-week range of $96.72 to $101.46.
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California State Teachers Retirement System reported a 9,736% increase in its Southern Company stake during the second quarter, bringing its holdings to 125.6 million shares valued at about $12.02 billion. Overall, institutional investors and hedge funds owned 64.10% of Southern’s stock.
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The VanEck Semiconductor ETF tracks the market-cap-weighted MVIS US Listed Semiconductor 25 Index, comprising 25 of the largest U.S.-listed semiconductor companies; it was launched in 2000 and is managed by VanEck.
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VanEck Semiconductor ETF shares rose $6.72 to $573.73 on Tuesday, while its 12-month trading range was $295.11 to $671.83 and its beta was 1.73, indicating relatively high volatility compared with the broader market.
Waverly Advisors significantly increased its holdings across multiple exchange-traded funds and Southern Company during the second quarter, according to regulatory filings. The firm's largest expansion was in the Fidelity Total Bond ETF, where it raised its position by 521.8% to 3.84 million shares valued at about $174.5 million. MarketBeat and financial analysts note that institutional capital flow into fixed income highlights a broader reallocation toward high-quality bond yields amid economic uncertainty.
Waverly also boosted positions in precious metals and semiconductors. The firm increased its iShares Gold Trust stake by 223.4% to 353,400 shares worth approximately $26.7 million and lifted its VanEck Semiconductor ETF position by 90.4% to 47,982 shares valued at roughly $31.5 million. Meanwhile, the California State Teachers Retirement System made an even larger move, reporting a 9,736% increase in its Southern Company stake to 125.6 million shares valued at about $12.02 billion.
Bond Funds Draw Major Institutional Capital
Waverly's most aggressive move was into bond ETFs. The firm raised its Fidelity Total Bond ETF position from baseline levels to 3.84 million shares in Q2. It also increased its iShares Core U.S. Aggregate Bond ETF stake by 67.7% to 321,460 shares valued at $31.8 million. These two positions alone represent over $200 million in bond exposure. Institutional and hedge fund investors own 83.63% of the iShares Core U.S. Aggregate Bond ETF overall, according to MarketBeat. The fund traded at $96.90 with a 52-week range of $96.72 to $101.46.
Gold and Precious Metals Surge Into Portfolios
Waverly's 223.4% increase in iShares Gold Trust holdings signals institutional concern about inflation and currency risk. The firm now owns 353,400 shares valued at $26.7 million. Institutional investors own 59.67% of the iShares Gold Trust overall. The fund traded at $81.95 on Tuesday, near the lower end of its 52-week range of $68.17 to $104.40, according to MarketBeat. This positioning reflects a defensive strategy typical when markets face economic uncertainty.
Semiconductors Offer High-Risk Growth Exposure
Waverly increased its VanEck Semiconductor ETF stake by 90.4% to 47,982 shares worth roughly $31.5 million. The fund tracks 25 of the largest U.S.-listed semiconductor companies and trades with relatively high volatility. VanEck Semiconductor ETF shares rose $6.72 to $573.73 on Tuesday. Its 12-month trading range spans $295.11 to $671.83, and its beta of 1.73 indicates it swings significantly more than the broader market, according to MarketBeat. This contrasts sharply with Waverly's defensive bond and gold positions.
Massive Pension Fund Bets on Utility Dividends
The California State Teachers Retirement System made a far more dramatic move into Southern Company. CalSTRS reported a 9,736% increase in its stake to 125.6 million shares valued at about $12.02 billion. Waverly also increased its Southern Company position, though more modestly at 3.7% to 347,945 shares worth $33.3 million. Institutional investors and hedge funds own 64.10% of Southern Company overall. This massive accumulation by major pension funds signals confidence in the utility's dividend income and regulated asset stability.
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