Assetmark Portfolio Adjustments
Assetmark Trims Positions in Energy Stocks and ETFs Amid Broader Portfolio Adjustments
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Key Points
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OGE Energy insider activity: William H. Sultemeier sold 7,345 shares on May 21 at an average price of $47.97, reducing Assetmark’s OGE Energy stake by 8.97% to 74,497 shares valued at about $3.57 million, with the sale disclosed in an SEC filing.
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TC Energy Corp. (TRP) dividend details were disclosed alongside Assetmark’s reduced stake: TC Energy declared a quarterly dividend of $0.8775 per share, to be paid July 31; shareholders of record as of June 30 will receive the dividend, yielding about 5.1% annualized with a payout ratio of roughly 107.39%.
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Avantis Emerging Markets Equity ETF (AVEM) context: Assetmark lowered its stake by 45.1% to 78,309 shares, valued at about $6.31 million, while AVEM’s market profile shows a market cap around $25.54 billion, a price-to-earnings ratio near 12.66, and a beta of about 0.73. The ETF traded with a 52-week low of $68.27 and a high of $100.83.
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American Electric Power (AEP) institutional ownership snapshot: Assetmark reduced its stake by 18.4% to 36,236 shares (worth about $4.75 million), while major institutions remain substantial holders — Vanguard (52,496,895 shares, ~$6.05 billion), State Street (30,437,776 shares, ~$3.51 billion), Morgan Stanley (14,661,858 shares), Geode Capital (13,823,744 shares), and Barclays (10,626,841 shares), with institutional investors owning about 75.24% of the stock.
Assetmark Inc. made a series of notable portfolio trims in the first quarter of 2025, cutting its OGE Energy stake by 63.1% to about 147,019 shares worth roughly $7.05 million, according to Defense World. The firm also reduced its TC Energy position by 15.0% to 112,138 shares valued at around $7.02 million.
The moves span energy utilities, emerging market equities, and mid-cap value funds. Analysts see the trims as routine portfolio management rather than a broad exit from any single sector.
OGE Energy Stake Cut by Nearly Two-Thirds
Assetmark's OGE Energy reduction was the sharpest of the bunch. The firm slashed its position by 63.1%, leaving it with about 147,019 shares worth $7.05 million, according to Defense World. Adding to the activity, OGE insider William H. Sultemeier sold 7,345 shares on May 21 at an average price of $47.97 per share. That sale reduced Assetmark's OGE stake further — by another 8.97% — to 74,497 shares valued at about $3.57 million, per an SEC filing.
OGE Energy is an Oklahoma-based electric utility. The back-to-back reductions signal a deliberate pullback from the stock, though institutional investors broadly still hold large positions across the sector.
TC Energy Dividend Cushions a Smaller Trim
Assetmark cut its TC Energy (TRP) position by 15.0%, bringing it to 112,138 shares worth about $7.02 million, according to Defense World. The trim is modest compared to the OGE move. Investors who stay in TRP will collect a quarterly dividend of $0.8775 per share, payable July 31 to shareholders on record as of June 30.
That dividend works out to roughly 5.1% annualized — a solid income yield. The payout ratio sits at about 107.39%, meaning TC Energy is paying out slightly more than it earns. That is a number income investors will want to watch closely.
American Electric Power Still Dominated by Giants
Assetmark trimmed its American Electric Power (AEP) stake by 18.4% to 36,236 shares, valued at about $4.75 million, according to Defense World. That is a small slice compared to the big players. Vanguard holds 52.5 million AEP shares worth roughly $6.05 billion. State Street holds 30.4 million shares worth about $3.51 billion.
Morgan Stanley, Geode Capital, and Barclays round out the top holders. Altogether, institutional investors own about 75.24% of AEP stock. Assetmark's exit barely moves the needle on overall ownership.
Emerging Markets ETF Cut Nearly in Half
The deepest percentage cut outside of OGE was in the Avantis Emerging Markets Equity ETF (AVEM). Assetmark dropped its stake by 45.1% to 78,309 shares worth about $6.31 million, per Defense World. AVEM carries a price-to-earnings ratio near 12.66 and a beta of about 0.73, meaning it moves less sharply than the broader market.
The ETF's 52-week range ran from a low of $68.27 to a high of $100.83, and its total market cap sits at roughly $25.54 billion. Assetmark also trimmed its iShares Russell Mid-Cap Value ETF position by 10.3% to 39,569 shares worth about $5.77 million, rounding out a quarter of measured, broad-based reductions.
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