Tassel Expands ETF Stakes
Tassel Capital Expands ETF Investments Across Four Major Market Funds
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Key Points
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Tassel’s newly acquired PFXF position was its 16th-largest holding, while the filing identified the ETF as a preferred-securities fund excluding financial companies.
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For OMFL, Tassel’s purchase ranked as its 19th-largest holding. The filing was a Form 13F submitted to the Securities and Exchange Commission.
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Tassel’s IWB purchase made the fund its 14th-largest holding. IWB opened at $423.06 in the cited trading session, compared with a 52-week range of $345.21 to $426.92.
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Among other investors, Bank of America increased its OMFL position by 36.5% in the second quarter to 2,143,686 shares valued at about $123.9 million, while Bank of New York Mellon increased its OMFL holdings by 33.5% in the first quarter.
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The iShares Russell 1000 ETF seeks to track the price and yield performance of the Russell 1000 Index, a float-adjusted, market-capitalization-weighted measure of large-cap U.S. equities; the fund was reported with a market capitalization of about $50.01 billion and a P/E ratio of 24.71.
Tassel Capital Management expanded its ETF portfolio in the second quarter, taking or increasing stakes in four separate funds worth a combined $5.76 million. The firm's largest purchase was 20,162 shares of the iShares Russell 1000 Growth ETF, valued at about $2.5 million and representing a 300% increase from the previous quarter watchlistnews. Tassel also acquired new positions in three other ETFs: the VanEck Preferred Securities ex Financials ETF ($1.21 million), the iShares Russell 1000 ETF ($1.24 million), and the Invesco Russell 1000 Dynamic Multifactor ETF ($902,000).
Growth Fund Gets Triple-Sized Position
Tassel's most dramatic move was tripling its stake in the iShares Russell 1000 Growth ETF to 20,162 shares worth approximately $2.5 million at quarter-end watchlistnews. The position became the firm's largest new ETF holding. This aggressive expansion signals confidence in large-cap growth stocks during a period of mixed economic signals.
Preferred Securities and Broad-Market Bets
Tassel also diversified with a new $1.21 million stake in the VanEck Preferred Securities ex Financials ETF (PFXF), adding 67,648 shares watchlistnews. The firm bought 3,016 shares of the iShares Russell 1000 ETF (IWB) for $1.24 million, which tracks the Russell 1000 Index of large-cap U.S. stocks tickerreport. The IWB fund has a market cap of $50.01 billion and trades at a P/E ratio of 24.71.
Tassel's Dynamic Multifactor Play
The firm acquired 13,154 shares of the Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) for roughly $902,000, making it Tassel's 19th-largest holding watchlistnews. Other major institutions adjusted their OMFL stakes too: Bank of America increased its position by 36.5% to 2,143,686 shares worth $123.9 million in the second quarter. Bank of New York Mellon also boosted its OMFL holdings by 33.5% in the first quarter.
Portfolio Weightings Remain Modest
Despite the aggressive purchases, Tassel's ETF positions represented between 0.4% and 1.2% of the firm's overall portfolio watchlistnews. The PFXF position ranked as Tassel's 16th-largest holding, while the IWB purchase became its 14th-largest holding. The disclosures came from Form 13F filings submitted to the Securities and Exchange Commission, which large money managers must file quarterly.
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