Dividend ETF Expansion
Dickmeyer Boyce Expands Dividend-Yielding ETF Stakes, Other Funds Also Increase Positions.
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Key Points
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Beyond Dickmeyer Boyce's VYM stake, other hedge funds expanded exposure to Vanguard High Dividend Yield ETF in the 1st quarter, including AQR Capital Management LLC increasing its stake by 314.5% to 28,618 shares ($3.69 million) and Brighton Jones LLC adding 3,177 shares to 16,836 shares ($2.15 million).
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In Dominion Energy, Navalign LLC boosted its position by 1.2% in the first quarter to 14,229 shares worth about $880,000, as institutional activity in the stock continued alongside Dickmeyer Boyce’s new stake; overall institutional ownership of Dominion Energy stood at 73.04%.
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For SCHD, other large investors also expanded holdings, with Wells Fargo & Company MN increasing its SCHD stake by 5.7% in the fourth quarter to 10,203,553 shares (about $279.9 million), and Cassaday & Co Wealth Management LLC boosting its position by 3.5% in Q1 to 9,569,026 shares (roughly $293.6 million).
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In Qualcomm, Norges Bank opened a new position in the 4th quarter worth about $2.59 billion, reflecting significant foreign interest alongside Dickmeyer Boyce’s 1st-quarter purchase of 4,267 shares for about $549,000.
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SDY shows substantial institutional ownership (43.42%), and Ritholtz Wealth Management raised its stake to 5,534 shares worth about $808,000 in the first quarter, up from prior holdings after adding 71 shares.
Dickmeyer Boyce Financial Management made a flurry of new bets in the first quarter, pouring money into dividend-focused ETFs and individual stocks. The firm's biggest move was a $6.96 million purchase of 226,769 shares of Schwab US Dividend Equity ETF (SCHD), making it the firm's 3rd largest holding, according to Watchlist News.
The firm also opened a $6 million position in Vanguard High Dividend Yield ETF (VYM) — 40,530 shares — landing it as the 6th largest holding. Smaller new stakes in Dominion Energy, Qualcomm, and SPDR S&P Dividend ETF (SDY) rounded out a quarter defined by income- and value-driven buying.
SCHD and VYM Become Core Portfolio Pillars
SCHD was the quarter's standout buy. Dickmeyer Boyce's 226,769-share stake, worth roughly $6.96 million, pushed the ETF to the firm's 3rd largest position. SCHD tracks high-dividend US stocks and is one of the most widely held dividend ETFs on the market. The firm is far from alone — Watchlist News reported that Wells Fargo increased its SCHD stake by 5.7% in Q4 to over 10.2 million shares worth about $279.9 million.
The VYM purchase added another $6 million income-oriented block to the portfolio. Other institutions moved in the same direction. AQR Capital Management grew its VYM position by 314.5% to 28,618 shares worth $3.69 million. Brighton Jones LLC added 3,177 shares, bringing its total to 16,836 shares valued at $2.15 million, according to Watchlist News.
Dominion Energy and SDY Draw Fresh Institutional Money
Dickmeyer Boyce bought 8,946 shares of Dominion Energy (D) for about $553,000 in the first quarter. The utility giant already carries broad institutional support — 73.04% of shares are held by institutions. Navalign LLC also added to its Dominion stake in Q1, raising its position by 1.2% to 14,229 shares worth about $880,000, per Watchlist News.
The firm's new SDY position — 5,497 shares worth about $802,000 — landed in an ETF with 43.42% institutional ownership. Ritholtz Wealth Management made a similar move, lifting its SDY stake to 5,534 shares worth roughly $808,000 after adding 71 shares in Q1. SDY tracks the S&P High Yield Dividend Aristocrats index, focusing on stocks with long records of rising dividends.
Qualcomm Buy Joins a Wave of Institutional Chip Interest
Dickmeyer Boyce added 4,267 shares of Qualcomm (QCOM) for about $549,000 in Q1. The chipmaker has drawn major foreign attention too. Norway's Norges Bank opened a brand-new position in Qualcomm in the fourth quarter worth about $2.59 billion, signaling strong global confidence in the stock, according to Ticker Report.
Qualcomm makes chips for smartphones and connected devices. Its stock has attracted both large sovereign funds and smaller managers alike. Dickmeyer Boyce's entry, though modest by comparison, fits a broader pattern of institutions building exposure to semiconductor names with strong cash flows.
A Clear Strategy: Income, Dividends, and Defensive Sectors
Taken together, Dickmeyer Boyce's Q1 moves paint a clear picture. The firm leaned into dividend ETFs, utilities, and a chip stock with a strong yield. VYM, SCHD, and SDY all target dividend-paying companies. Dominion Energy is a regulated utility known for steady payouts. Even the Qualcomm stake fits — QCOM yields around 2% and generates heavy free cash flow.
The firm also added TC Energy shares worth about $631,000 and a $477,000 stake in Microchip Technology, per Ticker Report and Watchlist News. These picks reinforce a defensive, income-first approach. With rate uncertainty lingering in 2025, dividend-focused strategies have drawn fresh attention from institutional managers of all sizes.
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