Key Points
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Ohio-based Prosperity Capital sold 33,127 shares of QQQM for an estimaed $7.8 million in the third quarter.
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Post-transaction, the fund reported holding 45,726 shares of QQQM valued at $11.3 million.
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QQQM now makes up 0.7% of the fund’s AUM, which places it outside the fund’s top five holdings.
On Tuesday, C2P Capital Advisory Group, which conducts business as Prosperity Capital Advisors, disclosed selling 33,127 shares of QQQM for an estimated $7.8 million during the quarter ended September 30.
What Happened
According to a Securities and Exchange Commission (SEC) filing released on Tuesday, Prosperity Capital Advisors reduced its position in the Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by 33,127 shares during the third quarter. The estimated value of the shares sold was $7.8 million based on the average share price over the quarter.
What Else to Know
The sale decreased QQQM’s weighting in the portfolio to 0.66% of reportable AUM.
Top holdings after the filing:
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NYSEMKT:DFAC: $155.3 million (9% of AUM)
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NYSEMKT:SPLG: $125.7 million (7.3% of AUM)
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NYSEMKT:DCOR: $65.1 million (3.8% of AUM)
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NYSEMKT:DFAX: $57.7 million (3.3% of AUM)
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NYSEMKT:VUG: $52.2 million (3% of AUM)
As of Monday’s market close, shares were priced at $258.58, up 27% over the past year and well outperforming the S&P 500’s 18% gain in the same period.
ETF Overview
|
Metric |
Value |
|---|---|
|
AUM |
$1.7 billion |
|
Price (as of market close Monday) |
$258.58 |
|
1-year total return |
24% |
ETF Snapshot
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The Invesco NASDAQ 100 ETF seeks to track the performance of the Nasdaq-100 Index, investing at least 90% of assets in the index’s constituent securities to provide exposure to 100 of the largest nonfinancial companies listed on the Nasdaq Stock Market.
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The ETF provides a passively managed structure for investors seeking broad-based exposure to leading companies through a single vehicle.
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The fund is non-diversified, concentrating holdings in a limited number of companies.
The Invesco NASDAQ 100 ETF (NASDAQ:QQQM) provides access to the Nasdaq-100 Index, which includes 100 of the largest nonfinancial companies traded on Nasdaq. The fund invests in these companies and is non-diversified.
Foolish Take
Prosperity Capital Advisors’ sale of Invesco NASDAQ 100 ETF (QQQM) shares this quarter appears to be part of a broader effort to rebalance equity exposure after a strong year for tech. The firm sold 33,127 shares, trimming more than half of the position and reducing QQQM’s weight to 0.7% of reportable AUM, according to the SEC filing.
The sale coincided with notable adjustments across the portfolio. While Prosperity pared back high-growth positions like QQQM, it added to Vanguard Total International Bond ETF (BNDX)—a move that suggests a defensive tilt amid still-elevated rates and a maturing equity cycle. QQQM, which tracks the NASDAQ-100 Index, remains heavily weighted toward large-cap tech leaders such as Nvidia, Microsoft, and Apple, sectors that have driven much of the market’s gains.
With QQQM up nearly 24% year over year, outperforming the S&P 500’s 18% gain, the decision seemingly reflects classic profit-taking and diversification. For long-term investors, Prosperity’s shift underscores the importance of maintaining balance between growth and stability—harvesting gains in tech while reinforcing fixed-income exposure through global bond funds like BNDX as rate and valuation risks persist.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the Securities and Exchange Commission (SEC), showing holdings in certain securities.
AUM (Assets under management): The total market value of investments managed by a fund or investment firm on behalf of clients.
ETF (Exchange-traded fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.
Portfolio weighting: The percentage of a portfolio’s total value allocated to a specific asset or holding.
Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.
Total return: The investment’s price change plus all dividends and distributions, assuming those payouts are reinvested.
Passively managed: An investment strategy aiming to replicate the performance of a specific index rather than actively selecting securities.
Non-diversified: A fund that invests in a limited number of securities, increasing exposure to individual holdings.
Constituent securities: The individual stocks or assets that make up an index or fund.
Outperforming: Achieving a higher return than a specified benchmark or index over a given period.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard Index Funds – Vanguard Growth ETF. The Motley Fool has a disclosure policy.