Boosting ETF Portfolios
Silver Oak Securities Boosts Stakes in Four ETFs Amid Broader Market Activity
Anonymous
Key Points
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Condor Capital Management increased its AIRR stake by 89 shares to 4,419, a 2.1% rise, with the position valued at about $435,000.
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LPL Financial LLC boosted its CGGR holdings by 6,814,693 shares in the fourth quarter, bringing total CGGR ownership to 45,411,053 shares worth about $2.02 billion.
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Morgan Stanley increased its CGGR stake by 13,065,920 shares in the fourth quarter, giving it 26,878,644 shares valued at roughly $1.20 billion.
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Jane Street Group LLC expanded its CGDG position by 1,837.3% in the fourth quarter to 960,000 shares, worth about $34.2 million.
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Cardinal Point Capital Management ULC purchased a new stake in SCHD during the first quarter, worth about $634,000.
Silver Oak Securities Incorporated expanded its stake in four ETFs during the first quarter of 2024, deploying millions into U.S. industrial, growth, and dividend-focused funds. The firm's largest position — 398,449 shares of the Schwab US Dividend Equity ETF (SCHD) — is now worth about $12.22 million, a 20.6% increase from the prior quarter, according to Watchlist News.
The moves signal a deliberate tilt toward domestic industrial revival and actively managed dividend strategies. Silver Oak also took brand-new positions in two Capital Group ETFs and grew its stake in an industrial-focused fund tied to the U.S. reshoring trend.
Silver Oak Bets Big on U.S. Industrial Renaissance
Silver Oak grew its position in the First Trust RBA American Industrial Renaissance ETF (AIRR) by 22.3% to 26,650 shares, now valued at roughly $2.95 million. AIRR targets small and mid-cap U.S. companies in industrial and banking sectors. The fund is built around the idea that American manufacturing is coming back home — driven by supply chain failures exposed during COVID-19 and rising geopolitical tensions.
Richard Bernstein Advisors, the macro-strategy firm behind AIRR's index, argues that "companies are bringing production back to U.S. soil, revitalizing industrial capacity." Analysts at Zacks Investment Research have called AIRR a top-ranked ETF that beat the S&P 500 in 2024, boosted by strong legislative support for domestic infrastructure.
Capital Group's Active ETFs Draw Fresh Institutional Money
Silver Oak entered two new positions in Capital Group's actively managed ETF suite. It bought 81,059 shares of the Capital Group Growth ETF (CGGR), worth about $3.26 million, and 122,302 shares of the Capital Group Dividend Growers ETF (CGDG), worth roughly $4.39 million. These are not passive index funds — they use seasoned portfolio managers to pick stocks.
Capital Group, which manages over $2.7 trillion in assets, only recently brought its strategies into ETF form. Morningstar upgraded CGGR's "People Pillar" rating to High, noting the underlying strategy dates back to the mid-1980s. The ETF wrapper makes these strategies more tax-efficient for investors than traditional mutual funds.
Institutional Giants Piled Into the Same Funds Last Quarter
Silver Oak was not alone. In Q4 2023, LPL Financial LLC added 6,814,693 shares to its CGGR position, bringing its total to 45,411,053 shares worth about $2.02 billion. Morgan Stanley added 13,065,920 shares of CGGR in the same period, giving it 26,878,644 shares valued at roughly $1.20 billion. These are among the largest institutional stakes in the fund.
Jane Street Group LLC made an even more dramatic move in CGDG, expanding its position by 1,837.3% in Q4 2023 to 960,000 shares worth about $34.2 million. Jane Street is a major market-maker in ETFs. Its large entry into a newly launched fund often signals strong institutional appetite. Cardinal Point Capital Management also opened a fresh SCHD position in Q1 2024, worth about $634,000.
Dividend Strategy Split: Passive Yield Meets Active Growth
Silver Oak's simultaneous growth in SCHD and CGDG shows a two-track dividend strategy. SCHD is a passive fund that tracks high-quality dividend payers. It charges just 0.06% per year in fees. CGDG is actively managed and costs 0.47% annually. Together, they cover both ends of the dividend spectrum — steady income and actively selected growth.
Some independent analysts argue the cost gap matters. For portfolios closely tied to retail clients, the "active premium" in CGDG may not always beat the low-cost consistency of SCHD over time. Still, Silver Oak's move to hold both suggests the firm sees value in diversifying across strategies rather than picking one approach.
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