Fund Portfolio Expansion
Howe & Rusling Broadens ETF Holdings and Adjusts Portfolio Across Multiple Funds
Key Points
In Air Products and Chemicals (APD), Howe & Rusling disclosed that CFO Melissa N. Schaeffer sold 2,714 shares on May 1 at an average price of $303.76, generating about $824,405 in proceeds; post-sale she directly owned 14,212 shares valued at roughly $4.32 million, marking a 16.03% decrease in ownership.
Howe & Rusling increased its Vanguard Short-Term Corporate Bond ETF (VCSH) stake by 9.1% to 368,905 shares, a position valued at about $29.243 million and representing 1.9% of the portfolio, making VCSH Howe & Rusling's 14th-largest holding.
In the iShares Core S&P U.S. Value ETF (IUSV), Howe & Rusling added 9,474 shares for a total of 358,791; the position is now worth about $36.686 million and remains the 10th-largest holding in the portfolio.
Howe & Rusling raised its stake in iShares MSCI Intl Quality Factor ETF (IQLT) by 11,416 shares to 90,577, with the position valued at approximately $4.187 million.
The fund also expanded its position in Vanguard Mega Cap Value ETF (MGV) by 7,376 shares to 68,376, a holding valued at about $9.911 million and constituting roughly 0.09% of Howe & Rusling's portfolio.
Howe & Rusling Inc. expanded its positions across five ETFs and one major stock in the first quarter of 2025, according to SEC filings reported by Ticker Report and Watchlist News. The moves pushed several holdings into top-15 status within the firm's portfolio and reflect a deliberate push into both equity and fixed-income exposure.
The firm's largest disclosed position sits in iShares Core S&P U.S. Growth ETF, valued at $52.54 million. But the quarter's activity touched a broad range of funds — from emerging markets to international quality stocks to short-term corporate bonds.
VCSH and IUSV Become Portfolio Heavyweights
Howe & Rusling raised its stake in the Vanguard Short-Term Corporate Bond ETF (VCSH) by 9.1%, bringing its total to 368,905 shares, according to Watchlist News. That position is now worth about $29.2 million and represents 1.9% of the firm's total portfolio. VCSH is now Howe & Rusling's 14th-largest holding.
In the iShares Core S&P U.S. Value ETF (IUSV), the firm added 9,474 shares, bringing its total to 358,791 shares worth roughly $36.7 million. That makes IUSV the firm's 10th-largest holding. The 2.7% increase signals continued confidence in value-oriented U.S. equities.
International ETF Stakes Climb in IQLT and IEFA
Howe & Rusling boosted its position in the iShares MSCI Intl Quality Factor ETF (IQLT) by 14.4%, adding 11,416 shares to reach a total of 90,577, according to Ticker Report. The position is now valued at about $4.19 million. IQLT focuses on high-quality international stocks outside the U.S.
The firm also grew its stake in the iShares Core MSCI EAFE ETF (IEFA) by 10.0%, reaching 57,658 shares, per Ticker Report. IEFA tracks developed markets in Europe, Asia, and Australia. Together, these moves show Howe & Rusling is adding international diversification alongside its domestic positions.
MGV and VWO Round Out a Busy Quarter
Howe & Rusling added 7,376 shares of the Vanguard Mega Cap Value ETF (MGV), lifting its total to 68,376 shares worth about $9.9 million. That stake makes up roughly 0.09% of the firm's overall portfolio. MGV focuses on the largest value-oriented U.S. companies.
The firm also increased its Vanguard FTSE Emerging Markets ETF (VWO) holdings by 16.0%, adding 31,347 shares to reach 227,508 total, according to Watchlist News. Emerging markets ETFs carry more risk but offer exposure to fast-growing economies outside the developed world.
Air Products CFO Sells Shares as Howe & Rusling Buys In
Howe & Rusling raised its stake in Air Products and Chemicals (APD) by 27.8%, bringing its total to 23,105 shares worth about $6.7 million. At the same time, APD's CFO Melissa N. Schaeffer sold 2,714 shares on May 1 at an average price of $303.76 per share. That sale generated about $824,405 in proceeds.
After the sale, Schaeffer directly owned 14,212 shares, valued at roughly $4.32 million. Her ownership dropped by 16.03%. Howe & Rusling's continued buying while the CFO was selling shows the firm remains bullish on the industrial gas company despite insider activity going the other direction.
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