Portfolio Rebalancing Moves
Rice Partnership reshapes portfolio, trimming RTX while boosting international bond and German equity ETFs
SEC filings show Rice Partnership LLC reshaped several positions, including trimming RTX by 11.9% to about 80,179 shares, while the stock remained a top-20 holding worth roughly $14.7 million. Other large investors also adjusted RTX, with Norges Bank initiating a sizable new stake and Vanguard maintaining a large ownership position, underscoring broad institutional interest in the defense-and-aerospace name. Rice Partnership meanwhile boosted its exposure to JPMorgan International Bond Opportunities ETF, increasing its stake by 8.8% to 1.43 million shares, which made the fund its largest holding at about 7.68% of the ETF. For international equity ETFs, Rice Partnership increased its iShares MSCI Germany ETF stake by 9.8% and trimmed its iShares MSCI France ETF position sharply, selling most shares to leave a small holding worth about $0.9 million. It also reduced iShares MSCI Australia ETF exposure by 79.4%, exiting down to about 6,776 shares valued at roughly $177,000, as other institutions continued making smaller, offsetting buys across these funds.
Key Points
Rice Partnership’s RTX trim (to 80,179 shares) also left the stock as its 17th-largest holding and about 2.0% of its overall portfolio; Rice reported selling 10,849 shares in the quarter, and the filing noted that institutional investors own 86.50% of RTX.
Other RTX activity was particularly large in size: Norges Bank bought a new stake worth about $3,167,626,000 in Q4, while Vanguard Group increased its position to 124,986,171 shares worth $22,922,464,000 (after buying 2,210,950 additional shares).
For iShares MSCI France ETF (EWQ), Rice cut its exposure by selling 117,084 shares to end with 20,035 shares (~0.23% of its portfolio, worth ~$901,000). The filings also showed other investors making larger moves—e.g., Bank of America Corp DE increased its stake by 392.7% to 783,676 shares worth $34,427,000.
For iShares MSCI Germany ETF (EWG), Rice increased its position to 718,167 shares (up 64,166 in Q4). Rice also disclosed that EWG represented about 4.1% of its portfolio and was 1.76% of the fund itself (worth ~$30,522,000). The article also cited other traders with outsized changes, such as Jones Financial Companies Lllp boosting holdings by 3,443.5% in Q1.
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