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BTS Asset Management Portfolio holdings

AUM $25.9M
1-Year Est. Return 2.16%
This Fund
S&P 500
This Quarter Est. Return
+5.21%
1 Year Est. Return
+2.16%
3 Year Est. Return
+8.06%
5 Year Est. Return
+1.65%
10 Year Est. Return
–
AUM
$133M
AUM Growth
-$22M
Cap. Flow
-$28.6M
Cap. Flow %
-21.56%
Top 10 Hldgs %
96.47%
Holding
45
New
9
Increased
2
Reduced
14
Closed
20

Top Buys

Rank Stock Value
1
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$21.6M
2
HYD icon
VanEck High Yield Muni ETF
HYD
+$6.28M
3
CWB icon
State Street SPDR Bloomberg Convertible Securities ETF
CWB
+$5.44M
4
DIA icon
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
+$2.29M
5
IBND icon
State Street SPDR Bloomberg International Corporate Bond ETF
IBND
+$380K

Top Sells

Rank Stock Value
1
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$35.5M
2
SJNK icon
State Street SPDR Bloomberg Short Term High Yield Bond ETF
SJNK
+$12.5M
3
BND icon
Vanguard Total Bond Market
BND
+$3.84M
4
HYLB icon
Xtrackers USD High Yield Corporate Bond ETF
HYLB
+$2.37M
5
VIG icon
Vanguard Dividend Appreciation ETF
VIG
+$940K

Sector Composition

Rank Sector Weight
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYLB icon
1
Xtrackers USD High Yield Corporate Bond ETF
HYLB
$3.51B
$59.6M 44.96%
1,674,731
-69,152
-4% -$2.37M
JNK icon
2
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.36B
$25M 18.89%
263,965
-389,001
-60% -$35.5M
IEF icon
3
iShares 7-10 Year Treasury Bond ETF
IEF
$47.1B
$22.5M 17.01%
+233,727
New +$21.6M
HYD icon
4
VanEck High Yield Muni ETF
HYD
$4.49B
$6.54M 4.94%
+126,725
New +$6.28M
CWB icon
5
State Street SPDR Bloomberg Convertible Securities ETF
CWB
$5.78B
$6.23M 4.7%
86,219
+80,092
+1,307% +$5.44M
DIA icon
6
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45B
$2.47M 1.86%
+6,540
New +$2.29M
HYG icon
7
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.9B
$2.24M 1.69%
28,909
-3,021
-9% -$225K
BND icon
8
Vanguard Total Bond Market
BND
$159B
$1.65M 1.25%
22,426
-54,452
-71% -$3.84M
VIG icon
9
Vanguard Dividend Appreciation ETF
VIG
$111B
$838K 0.63%
4,910
-5,842
-54% -$940K
TFLO icon
10
iShares Treasury Floating Rate Bond ETF
TFLO
$6.56B
$735K 0.55%
14,558
+3,840
+36% +$194K
IBND icon
11
State Street SPDR Bloomberg International Corporate Bond ETF
IBND
$457M
$402K 0.3%
+13,436
New +$380K
PCEF icon
12
Invesco CEF Income Composite ETF
PCEF
$823M
$391K 0.29%
21,743
-1,507
-6% -$25.9K
TLT icon
13
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$381K 0.29%
+3,856
New +$348K
VBR icon
14
Vanguard Small-Cap Value ETF
VBR
$37.1B
$342K 0.26%
1,882
-1,534
-45% -$250K
FLOT icon
15
iShares Floating Rate Bond ETF
FLOT
$10B
$332K 0.25%
6,551
-1,499
-19% -$76K
JPST icon
16
JPMorgan Ultra-Short Income ETF
JPST
$39.8B
$332K 0.25%
+6,600
New +$331K
VRP icon
17
Invesco Variable Rate Preferred ETF
VRP
$3B
$331K 0.25%
14,330
-10,129
-41% -$227K
JBBB icon
18
Janus Henderson B-BBB CLO ETF
JBBB
$1.36B
$327K 0.25%
+6,810
New +$322K
EEM icon
19
iShares MSCI Emerging Markets ETF
EEM
$28B
$324K 0.24%
8,053
-8,242
-51% -$318K
GLD icon
20
SPDR Gold Trust
GLD
$130B
$314K 0.24%
+1,640
New +$301K
AMLP icon
21
Alerian MLP ETF
AMLP
$12.7B
$306K 0.23%
7,186
-6,727
-48% -$285K
BWX icon
22
State Street SPDR Bloomberg International Treasury Bond ETF
BWX
$1.33B
$245K 0.18%
+10,561
New +$231K
MUB icon
23
iShares National Muni Bond ETF
MUB
$45.5B
$230K 0.17%
2,117
-6,370
-75% -$666K
IYJ icon
24
iShares US Industrials ETF
IYJ
$1.96B
$216K 0.16%
1,881
-477
-20% -$49.9K
VHT icon
25
Vanguard Health Care ETF
VHT
$18B
$208K 0.16%
828
-195
-19% -$46.2K
1
2

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BWG
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LTM
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TCM
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BTS Asset Management's Q4 2023 Portfolio in Review

As of Q4 2023, BTS Asset Management held 45 positions worth $133M, down 14% from $154M the previous quarter. Its ten largest holdings account for 96% of the portfolio.

BTS Asset Management withdrew a net $28.6M in Q4 2023, closing 20 positions and reducing 14 holdings. Its most notable exit was State Street SPDR Bloomberg Short Term High Yield Bond ETF, an estimated $12.5M position sold in full.

Against the trend, BTS Asset Management opened a new position in iShares 7-10 Year Treasury Bond ETF worth $22.5M.

  • BTS Asset Management's largest Q4 2023 buy was iShares 7-10 Year Treasury Bond ETF: 233,727 shares worth $22.5M.
  • BTS Asset Management added most to State Street SPDR Bloomberg Convertible Securities ETF in Q4 2023, an estimated $5.44M increase.
  • BTS Asset Management's biggest Q4 2023 reduction was State Street SPDR Bloomberg High Yield Bond ETF, cutting an estimated $35.5M.
  • BTS Asset Management fully exited State Street SPDR Bloomberg Short Term High Yield Bond ETF in Q4 2023, selling an estimated $12.5M.
  • BTS Asset Management's ten largest holdings make up 96% of its $133M portfolio in Q4 2023.
  • BTS Asset Management opened 9 new positions and closed 20 in Q4 2023.
  • BTS Asset Management's portfolio value fell 14% quarter-over-quarter to $133M.

Based on BTS Asset Management's 13F filing for Q4 2023, filed 18 Jan 2024.