Bulwark ETF Rebalance
Bulwark Capital Adjusts Q2 ETF Portfolio, Boosting PULS and Adding New Bond Fund Stakes
Anonymous
Key Points
1
Bulwark's stake in JPMorgan Limited Duration Bond ETF (JPLD) equals 0.69% of the ETF's outstanding shares, valued at about $10.28 million.
2
VBIL is a newly launched Vanguard 0-3 Month Treasury Bill ETF (launched February 7, 2025); Bulwark purchased 10,795 shares for about $817,000 in the quarter.
3
IGSB position: Bulwark acquired 26,567 shares, about $1.392 million, making it roughly 0.8% of Bulwark's holdings and its 26th biggest holding.
4
PULS remains Bulwark's largest holding, rising 20.1% in Q2 to 386,677 shares (about $19.16 million), with institutional investors owning about 72.71% of PULS.
5
JPLD opened for trading at $51.89 per share, with a 1-year low of $51.87 and a 1-year high of $52.75, providing a sense of the ETF's near-term price range.
Bulwark Capital made notable moves across its bond ETF holdings in the second quarter, trimming its JPMorgan Limited Duration Bond ETF (JPLD) stake by 16.6% while boosting its largest position and opening two brand-new ones. The shifts show a firm actively reshaping its short-duration fixed income strategy, according to Ticker Report.
After the changes, Bulwark's portfolio spans at least five bond ETFs. Its total exposure ranges from ultra-short Treasury bills to investment-grade corporate debt. The firm's biggest single bet remains a $19.16 million stake in PGIM Ultra Short Bond ETF (PULS).
PULS Grows to Nearly $20 Million as Top Holding
Bulwark added to its PULS position aggressively in Q2, growing its stake by 20.1%. The firm now holds 386,677 shares worth about $19.16 million. That makes PULS its largest single holding, representing roughly 10.8% of the entire portfolio, according to Ticker Report.
PULS is not a niche holding. Institutional investors own about 72.71% of the ETF overall. Bulwark's decision to keep buying shows strong conviction in ultra-short bond exposure as a core strategy.
Bulwark Trims JPLD Stake by 16.6% in Q2
On the selling side, Bulwark cut 39,327 shares of JPMorgan Limited Duration Bond ETF (JPLD). It ended the quarter with 196,887 shares valued at about $10.28 million. That stake equals 0.69% of JPLD's total outstanding shares, according to Ticker Report.
JPLD trades in a narrow price range. It opened at $51.89 per share, with a one-year low of $51.87 and a high of $52.75. Even after the trim, JPLD remains Bulwark's fourth-largest holding at about 5.8% of its portfolio.
Two New ETF Positions Opened: VBIL and IGSB
Bulwark made two fresh bets in Q2. It bought 10,795 shares of Vanguard 0-3 Month Treasury Bill ETF (VBIL) for about $817,000. VBIL is a newly launched fund — it only began trading on February 7, 2025 — making Bulwark an early institutional buyer, according to Ticker Report.
The firm also opened a position in iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB), picking up 26,567 shares worth roughly $1.392 million. That stake is about 0.8% of Bulwark's holdings and ranks as its 26th biggest position. The two new buys push Bulwark further across the bond maturity spectrum.
Strategy Points to Short-Duration, Diversified Bond Focus
Taken together, Bulwark's Q2 moves paint a clear picture. The firm is spreading risk across many short- to medium-term bond ETFs. It holds ultra-short Treasuries in VBIL, near-cash bonds in PULS, limited-duration debt in JPLD, and investment-grade corporate bonds in IGSB.
The firm also raised its iShares Ultra Short-Term Bond Active ETF (ICSH) stake by 154.8% in Q2, ending with 66,863 shares, and grew its Schwab U.S. TIPS ETF (SCHP) holdings by 13.7% to 334,258 shares worth about $8.86 million. That adds inflation protection on top of the duration strategy, according to Ticker Report.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
11
Articles
3
Reach
14
A
AnonymousAuthor
