Evernest's Portfolio Rebalancing
Evernest Significantly Expands SPSM Stake, Adjusting Multiple ETF Positions in Q1
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Key Points
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Hibernia Wealth Partners LLC lifted its SPDR Portfolio S&P 600 Small Cap ETF (SPSM) position by about 1.3% in the first quarter.
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Integrity Wealth Solutions LLC boosted its SPSM stake by 2.2% in Q1, bringing the holding to 19,109 shares (roughly $923,000).
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Bleakley Financial Group LLC increased its SPSM position by 17.3% in the first quarter, to 188,676 shares valued at about $9.12 million.
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For Fidelity Enhanced International ETF (FENI), Royal Bank of Canada raised its stake by 353.0% to 16,340 shares, while Jane Street Group LLC increased its stake by 149.8% to 348,369 shares in the same period.
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Evernest also trimmed Capital Group Conservative Equity ETF (CGCV) by 48.0% to 129,884 shares; CGCV accounted for about 0.9% of the portfolio and was valued at roughly $4.04 million at the end of the quarter.
Evernest Financial Advisors LLC significantly expanded its position in the SPDR Portfolio S&P 600 Small Cap ETF (SPSM) during the first quarter, growing its stake by 40.6% to 562,067 shares worth about $29.8 million, according to Ticker Report. That move made SPSM the firm's third-largest holding.
The filing captures a broader wave of activity across several ETFs. Evernest added to positions in international and mid-cap funds while cutting back on a conservative equity holding. Other investors were also busy adjusting their SPSM stakes during the same period.
Evernest Makes SPSM Its Third-Largest Holding
Evernest's SPSM purchase was the firm's most striking Q1 move. The 40.6% increase added roughly 162,000 shares, pushing the total to 562,067. At quarter-end, those shares were valued at about $29.8 million, Ticker Report noted. That dollar figure was large enough to rank the fund third across the firm's entire portfolio.
SPSM tracks the S&P 600 index, which covers small U.S. companies. Small-cap funds like SPSM can offer higher growth potential but also carry more risk than large-cap funds. Evernest's big bet on this fund signals a willingness to lean into that risk.
Other Firms Also Piled Into SPSM in Q1
Evernest was not alone. Bleakley Financial Group LLC raised its SPSM stake by 17.3% to 188,676 shares, valued at about $9.12 million, according to Ticker Report. Integrity Wealth Solutions LLC boosted its position by 2.2%, reaching 19,109 shares worth roughly $923,000. Hibernia Wealth Partners LLC also nudged its stake up by about 1.3%.
The pattern shows broad interest in small-cap exposure during the quarter. Multiple firms, ranging from large advisors to smaller wealth managers, all moved in the same direction on SPSM at roughly the same time.
Big Gains in FENI as Royal Bank and Jane Street Move In
Evernest also grew its stake in the Fidelity Enhanced International ETF (FENI) by 22.6%, reaching 429,234 shares worth about $16.7 million. But the biggest FENI moves came from two other players. Royal Bank of Canada surged into the fund, raising its position by 353.0% to 16,340 shares, per Ticker Report. Jane Street Group LLC jumped in too, lifting its stake by 149.8% to 348,369 shares.
FENI focuses on international stocks and uses a rules-based strategy to try to beat a standard index. The sharp increases from Royal Bank and Jane Street suggest rising institutional appetite for international equity exposure during Q1.
Evernest Trims Conservative Equity Fund While Adding Mid-Cap Exposure
Not all of Evernest's Q1 moves were additions. The firm cut its stake in the Capital Group Conservative Equity ETF (CGCV) by 48.0%, down to 129,884 shares worth roughly $4.04 million, according to Ticker Report. That fund made up only about 0.9% of the portfolio by quarter-end. The sale suggests the firm is shifting away from lower-risk, income-focused strategies.
At the same time, Evernest raised its iShares Core S&P Mid-Cap ETF (IJH) position by 13.8% to 312,576 shares, valued at around $22.8 million. Together, the SPSM and IJH increases show Evernest moving toward growth-oriented, equity-heavy exposure across both small and mid-sized U.S. companies.
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