Wealth Portfolio Rebalance
SlateStone Wealth Increases Small-Cap and Mid-Cap ETF Holdings, Trims Treasury Bonds in Q4
Anonymous
SlateStone Wealth LLC increased its stake in the iShares Core S&P Small-Cap ETF (IJR) during the fourth quarter, adding shares and boosting its position to about $6.9 million, while a number of other investors also expanded their holdings. It reduced its exposure to the iShares 20+ Year Treasury Bond ETF (TLT) by selling shares in the fourth quarter, leaving the firm with roughly $12.4 million in that fund as investors elsewhere made large position changes. SlateStone also grew its iShares Core S&P Mid-Cap ETF (IJH) holdings, raising the value of its position to about $9.1 million after additional purchases. For fixed income, the firm raised its Vanguard Total Bond Market ETF (BND) stake in the fourth quarter, with the position valued at about $16.3 million, and several major asset managers and broker-dealers reported their own BND buying or trimming. Across these reports, institutional ownership remains dominant in the ETFs mentioned, with wide-ranging activity from other investment firms alongside SlateStone’s moves.
Key Points
1
For IJR, SlateStone Wealth LLC increased its stake by 8.1% in the fourth quarter, ending the period with 57,628 shares after buying an additional 4,302 shares (worth about $6.926 million).
2
In IJR, Heck Capital Advisors LLC reported buying a new position in the fourth quarter valued at about $55.011 million—an additional example of large third-party activity beyond SlateStone.
3
For TLT, SlateStone reduced its holdings by 23.9% during the fourth quarter, leaving it with 142,791 shares after selling 44,763 shares (valued at about $12.446 million); the ETF was described as making up 1.0% of SlateStone’s portfolio and its 27th-largest position.
4
Other investors also made sizable moves in TLT: Northwestern Mutual Wealth Management Co. increased its position by 3.4% in the fourth quarter to 43,140,136 shares (worth about $3.76 billion) after buying 1,418,641 additional shares.
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For IJH, SlateStone boosted its stake by 5.3% in the fourth quarter, ending with 137,388 shares after buying 6,907 more; the article also reports that 14.60% of the fund is owned by institutional investors and hedge funds.
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