Stairway's Strategic ETF Moves
Stairway Partners Adjusts iShares ETF Portfolio in Q2, Expanding and Trimming Key Holdings
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Key Points
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Schnieders Capital Management LLC lifted its IVV stake by 0.8% in the second quarter, increasing its holding to 5,656 shares valued at about $3.51 million.
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IVV opened at $761.32 on Tuesday, with the 50-day moving average at $748.63 and the 200-day moving average at $713.63.
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EMB accounts for about 1.2% of Stairway Partners LLC's investment portfolio.
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IEFA accounts for about 14.1% of Stairway's portfolio, making it the second-largest holding.
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IEMG accounts for about 9.7% of Stairway's holdings.
Stairway Partners LLC made notable shifts across its iShares ETF holdings in the second quarter, trimming its iShares Core S&P 500 ETF (IVV) stake by 1.5% while boosting exposure to emerging market bonds. The firm ended the quarter holding 206,666 shares of IVV, valued at about $154.8 million, according to Watchlist News.
The moves signal a modest rebalancing away from broad U.S. equities and toward international and fixed-income positions. Stairway's largest shift was a 22% cut to its emerging markets equity ETF, while its developed-market international holding grew slightly.
IVV Stake Trimmed as U.S. Equity Weight Dips
Stairway sold 3,209 shares of IVV during the second quarter, reducing its position to 206,666 shares worth roughly $154.8 million, per Ticker Report. IVV now makes up about 7.3% of the firm's total portfolio. The ETF tracks the S&P 500 and is one of the most widely held funds among institutional investors.
IVV opened at $761.32 on Tuesday. Its 50-day moving average sits at $748.63, and its 200-day moving average is $713.63. Stairway is not alone in adjusting IVV exposure — Schnieders Capital Management LLC raised its IVV stake by 0.8% in the same quarter, bringing its holding to 5,656 shares worth about $3.51 million, according to Watchlist News.
Emerging Markets Bond ETF Gets a 9.2% Boost
Stairway grew its position in the iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) by 9.2% in Q2. The firm now holds 264,121 shares valued at about $25.5 million, according to Watchlist News. EMB tracks dollar-denominated bonds issued by emerging market governments.
Despite the increase, EMB remains a relatively small slice of Stairway's book — about 1.2% of the total portfolio. It ranks as the firm's 14th-largest holding. The move suggests the firm sees some value in emerging market debt even as it pulled back from emerging market equities.
IEFA Holds Strong as Second-Largest Position
The iShares Core MSCI EAFE ETF (IEFA) remains Stairway's second-biggest holding after a 0.7% increase in Q2. The firm now owns 3,108,202 shares worth around $300.2 million, per Ticker Report. IEFA tracks large- and mid-cap stocks in Europe, Australia, and Asia.
IEFA accounts for about 14.1% of Stairway's total portfolio. That makes it by far the firm's biggest international equity bet. The small increase suggests Stairway is comfortable keeping its developed-market international exposure largely in place.
IEMG Cut by 22% in the Quarter's Biggest Reduction
The sharpest move Stairway made in Q2 was slashing its iShares Core MSCI Emerging Markets ETF (IEMG) stake by 22.0%. The firm sold a large chunk of shares, ending the quarter with 2,481,939 shares valued at about $205.6 million, according to Watchlist News. IEMG tracks stocks in developing economies like China, India, and Brazil.
Even after the cut, IEMG remains Stairway's fifth-largest holding and accounts for about 9.7% of its portfolio. The firm also trimmed its iShares Russell 3000 ETF (IWV) position by 3.5% to 56,534 shares worth about $24.1 million, per Ticker Report. IWV ranks as the 15th-largest holding.
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