Everest Portfolio Rebalancing
Everest Financial Group Adjusts Q1 Portfolio, Trimming SCHD While Boosting PANW, COST, and Initiating FTCS
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Key Points
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SCHD was Everest Financial Group LLC's 6th-largest holding, comprising roughly 3.6% of the portfolio.
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Panorama PANW stake: Everest held 65,462 shares, about $10,495,000, representing 1.7% of the portfolio and ranking as Everest’s 14th-largest holding.
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FTCS drew additional institutional buying in Q1, with Caitlin John LLC (+288% to 291 shares), EverSource Wealth Advisors LLC (+492% to 296 shares), and Parallel Advisors LLC (+140% to 300 shares).
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Insider activity: Director Kenneth D. Denman sold 885 shares of Costco Wholesale (COST) on June 23 at an average price of $957.45 per share.
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Institutional ownership of SCHG stands at 79.82% of the stock.
Everest Financial Group LLC shifted its portfolio in the first quarter of 2026, trimming its stake in the popular Schwab U.S. Dividend Equity ETF (SCHD) while buying into cybersecurity giant Palo Alto Networks (PANW) and initiating a brand-new position in the First Trust Capital Strength ETF (FTCS). The Minneapolis-based firm manages roughly $912 million in assets across more than 4,600 accounts, according to Watchlist News.
The moves signal a broader shift at Everest — away from passive, dividend-focused income plays and toward companies with strong balance sheets and high-growth potential in tech and mega-cap retail.
Everest Cuts SCHD Stake by 16% in Yield Retreat
Everest trimmed its SCHD position by 16.3%, ending Q1 with 720,195 shares worth about $22.1 million. SCHD is now the firm's 6th-largest holding, making up 3.6% of its portfolio. SCHD tracks the Dow Jones U.S. Dividend 100 Index. It holds a 0.06% expense ratio and a 13-year streak of annual dividend growth, according to Watchlist News.
Income-focused investors may push back on that trim. Financial research firm Trefis has warned that "cashing out a quality compounder is often the costliest choice of all." For long-term dividend investors, cutting a fund this consistent looks like an attempt to time the market rather than stay the course.
Palo Alto Networks Bet Grows as Cyber Demand Rises
Everest added 10,235 shares of Palo Alto Networks in Q1, bringing its total to 65,462 shares. That stake is now worth about $10.5 million and ranks as the firm's 14th-largest holding at 1.7% of its portfolio, according to Watchlist News. The 18.5% increase reflects a clear bet on enterprise cybersecurity demand.
Corporate cyber budgets tend to hold steady even when the economy slows. That makes PANW a defensive pick of a different kind — not built on dividends, but on the idea that companies cannot afford to cut security spending. Everest appears to be leaning into that logic.
New FTCS Position Joins a Crowd of Institutional Buyers
Everest opened a fresh position in the First Trust Capital Strength ETF (FTCS), buying 6,866 shares worth about $637,000. FTCS targets 50 large-cap stocks that carry at least $1 billion in cash, keep debt-to-market-cap below 30%, and post return on equity above 15%. In short, it screens for financial fortress companies, according to Watchlist News.
Everest was not alone. Caitlin John LLC raised its FTCS stake by 288% to 291 shares. EverSource Wealth Advisors jumped 492% to 296 shares. Parallel Advisors climbed 140% to 300 shares. The coordinated institutional buying across smaller advisory firms suggests a shared view: balance-sheet strength matters more right now than raw yield.
Costco Position Triples Amid Insider Sale and Valuation Debate
Everest expanded its Costco (COST) stake by 283.6%, ending Q1 with 1,968 shares worth about $1.96 million. That aggressive buy came as Costco reported June net sales of $29.24 billion, up 10.6% year-over-year. The company also raised its quarterly dividend from $1.30 to $1.47 per share in April. Institutional ownership of the related Schwab U.S. Large-Cap Growth ETF (SCHG) — which Everest also boosted by 33.1% to 332,460 shares — stands at 79.82%, according to Ticker Report.
But Costco is not cheap. Its price-to-earnings ratio sits near 47.4, far above standard retail valuations. On June 23, board director Kenneth D. Denman sold 885 shares at an average price of $957.45 each. Denman still holds 4,779 shares. Bears see insider selling as a valuation warning. Bulls point to Costco's membership loyalty and pricing power as reasons to keep buying.
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