ETF Portfolio Rebalance
SouthState Bank Adjusts ETF Holdings, Cutting Equity, Bond Funds While Boosting Intermediate Bonds
SouthState Bank Corp reduced its exchange-traded fund exposure in multiple areas, cutting its stake in the Dimensional U.S. Equity ETF (DFUS) by about 10% and in the Vanguard FTSE Developed Markets ETF (VEA) by about 7% during the fourth quarter, according to SEC filings. The bank also trimmed its position in the Vanguard Short-Term Bond ETF (BSV) by about 7% in the fourth quarter, leaving it with roughly 180,586 shares worth about $14.2 million. In contrast, SouthState increased holdings in the VictoryShares Core Intermediate Bond ETF (UITB) by about 5% in the fourth quarter, owning about 376,951 shares valued near $17.9 million. Across these ETFs, other institutional investors made smaller offsetting moves—some adding shares while others reduced stakes—suggesting continued portfolio rotation among bond and developed-market strategies. Overall, the disclosures point to a shift within SouthState’s ETF allocation rather than an exit from these asset classes.
Key Points
In SouthState’s Form 13F details on DFUS, the Dimensional U.S. Equity ETF made up about 1.3% of the bank’s investment portfolio and was its 16th-largest position; SouthState held 0.16% of DFUS worth $28.92 million as of its latest filing.
SouthState cut VEA by 7.1% in the fourth quarter—leaving it with 104,166 shares after selling 7,979 shares—valued at $6.507 million in its most recent SEC filing.
BSV is described as a passive, indexing fund designed to track the Barclays Capital U.S. 1–5 Year Government/Credit Bond Index (rather than an actively managed bond approach).
SouthState’s UITB stake is positioned as a 0.68% holding, worth about $17.85 million, and UITB is described as an exchange-traded fund based on the Bloomberg U.S. Aggregate Bond index with active management (per the article’s fund description).
The offsetting activity across VEA wasn’t uniform—for example, Quaker Wealth Management LLC increased its VEA position by 7,637.5% during the fourth quarter, ending with 619 shares worth about $39,000 (after adding 611 shares).
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