ETF Portfolio Reshuffle
Independent Wealth Network Inc. Expands ETF Holdings While Trimming Others in Q1
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Key Points
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Unique Wealth LLC boosted its stake in Invesco S&P MidCap Momentum ETF (XMMO) by 406.3% in Q1, bringing the position to 10,233 shares worth about $1.484 million.
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Independent Wealth Network Inc. increased its First Trust Capital Strength ETF (FTCS) stake by 82.3% in the 1st quarter to 13,407 shares, worth approximately $1.244 million.
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ACWI activity shows broad institutional involvement: Independent Wealth trimmed its iShares MSCI ACWI ETF (ACWI) by about 51% to 21,856 shares, while other major investors such as NewEdge Advisors, Jones Financial Companies Lllp, Russell Investments Group Ltd., First Trust Advisors LP, and Quantinno Capital Management LP increased or initiated positions in ACWI during the period.
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BBIN (JPMorgan BetaBuilders International Equity ETF) drew notable outside activity: Independent Wealth Network Inc. bought 20,064 shares for about $1.467 million, while other big players added or opened positions such as Royal Bank of Canada boosting to 39,779 shares, Goldman Sachs taking a new position, and Qube Research & Technologies increasing to 21,000 shares.
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RSP (Invesco S&P 500 Equal Weight ETF) also saw broad institutional activity beyond Independent Wealth, including Morgan Stanley increasing its stake, Varma Mutual Pension Insurance Co and Clal Insurance Enterprises Holdings Ltd taking new positions, BW Gestao de Investimentos Ltda. initiating a stake, and the State of Wisconsin Investment Board lifting its position.
Independent Wealth Network Inc. made a sharp pivot in its ETF portfolio during the first quarter of 2024. The Iowa-based investment advisor boosted its stake in First Trust Capital Strength ETF by 82.3%, added a brand-new position in JPMorgan BetaBuilders International Equity ETF, and entered the Invesco S&P 500 Equal Weight ETF — all while cutting its iShares MSCI ACWI ETF holding by 51%, according to Watchlist News.
The moves signal a clear shift away from broad, market-cap-weighted funds toward more targeted strategies. Analysts say the firm is trying to reduce its exposure to a handful of giant tech stocks that now dominate traditional indexes.
IWN Loads Up on Capital Strength and International ETFs
Independent Wealth Network increased its First Trust Capital Strength ETF (FTCS) position to 13,407 shares, worth about $1.244 million, per Watchlist News. FTCS targets companies with at least $1 billion in cash and low debt. That makes it a classic "flight to quality" bet — favoring financially solid firms over high-growth, high-debt tech names.
At the same time, the firm opened a fresh position in JPMorgan BetaBuilders International Equity ETF (BBIN), buying 20,064 shares worth roughly $1.467 million. It also started a new stake in the Invesco S&P 500 Equal Weight ETF (RSP) with 3,074 shares valued at about $590,000, according to Ticker Report.
IWN Slashes Its Global Index Exposure by Half
The firm cut its iShares MSCI ACWI ETF (ACWI) position by 51%, dropping to 21,856 shares worth around $3.024 million, according to Watchlist News. ACWI tracks stocks from both developed and emerging markets around the world. Trimming it suggests IWN wants less reliance on the "Magnificent Seven" mega-cap tech stocks that dominate cap-weighted global indexes.
Not everyone is moving the same direction. Firms like NewEdge Advisors, Jones Financial Companies, and Russell Investments Group actually increased their ACWI stakes during the same period. Their view: the dominance of big tech is justified by strong earnings, and cutting exposure risks missing the ongoing AI-driven rally.
Other Big Institutions Piled Into the Same ETFs
IWN was not alone in buying BBIN. Royal Bank of Canada boosted its position to 39,779 shares, and Goldman Sachs opened a brand-new stake in the fund. Qube Research & Technologies also raised its holding to roughly 21,000 shares. BBIN charges just 0.07% in fees — far below the average international fund — making it an attractive low-cost option for global exposure.
RSP also drew wide institutional interest beyond IWN. Morgan Stanley raised its stake, while the State of Wisconsin Investment Board lifted its position. International players including Varma Mutual Pension Insurance Co and Clal Insurance Enterprises Holdings Ltd both opened new positions in the equal-weight fund during Q1.
Unique Wealth LLC Makes a Monster MidCap Momentum Bet
Separate from IWN, Unique Wealth LLC made one of the boldest ETF moves of the quarter. The boutique firm grew its stake in Invesco S&P MidCap Momentum ETF (XMMO) by 406.3%, bringing its total to 10,233 shares worth about $1.484 million. Momentum ETFs buy stocks that have been rising and drop those that have been falling — a strategy that can pay off big but can also reverse fast.
Morningstar gives XMMO a Silver Medalist rating, meaning analysts expect it to outperform peers over time based on its systematic process. But analysts warn that if more firms flood into mid-cap momentum plays, it could inflate prices beyond what fundamentals support — a so-called "momentum squeeze."
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