Texas-based Optas Capital reduced its holding in the Vanguard Russell 1000 Value ETF (VONV 0.32%) by 31,614 shares during the third quarter in an estimated $2.8 million transaction, according to an SEC filing released on Wednesday.
What Happened
According to a filing with the U.S. Securities and Exchange Commission released on Wednesday, Optas, LLC sold 31,614 shares of the Vanguard Russell 1000 Value ETF (VONV) in the third quarter. The estimated value of the transaction was $2.8 million based on the average share price for the quarter ended September 30. The fund now holds 78,505 VONV shares.
What Else to Know
This sale reduced the VONV stake to 1.2% of Optas, LLC's $589.2 million in reportable U.S. equity assets as of September 30, according to SEC Form 13F data.
Top holdings after the filing:
- NYSEMKT:VTI: $73.8 million (10.4% of AUM)
- NYSEMKT:VOO: $59.1 million (8.4% of AUM)
- NASDAQ:GOOGL: $57.9 million (8.2% of AUM)
- NASDAQ:NVDA: $24.7 million (3.5% of AUM)
- NYSEMKT:VEU: $23.2 million (3.3% of AUM)
As of Wednesday morning, VONV shares were priced at $90.00, up 7% over the past year and lagging the S&P 500's nearly 16% gain during the same period.
ETF Overview
| Metric | Value |
|---|---|
| Share class total net assets | $15.6 billion |
| Price (as of market close Wednesday morning) | $90.00 |
| 30 day SEC yield | 1.8% |
| 1-year total return | 9% |
ETF Snapshot
- VONV employs a passive investment strategy designed to track the performance of the Russell 1000 Value Index, focusing on large-cap U.S. value stocks.
- The fund holds a diversified portfolio mirroring the index, with each security weighted to closely replicate index composition.
- Structured as an ETF, it provides transparent, low-cost access to the U.S. large-cap value equity market.
The Vanguard Russell 1000 Value ETF offers investors broad exposure to U.S. large-cap value equities by replicating the Russell 1000 Value Index. Its indexing approach and substantial asset base make it an efficient vehicle for investors seeking diversified value stock exposure. Its scale and indexing strategy contribute to its appeal.
Foolish Take
Texas-based Optas Capital trimmed its position in the Vanguard Russell 1000 Value ETF last quarter, selling about $2.8 million worth of shares. The move brought the position down to 1.2% of the firm’s $589 million in reportable assets, signaling a modest rebalancing away from value-oriented equities at a time when the firm’s larger holdings remain concentrated in broad-market and growth-heavy funds like VTI, VOO, and Alphabet (GOOGL).
VONV, which tracks the Russell 1000 Value Index, offers exposure to large-cap U.S. stocks considered undervalued relative to peers. Top holdings include Berkshire Hathaway, JPMorgan Chase, and Exxon Mobil, reflecting its tilt toward financials, energy, and consumer staples. The fund has risen roughly 7% over the past year, trailing the S&P 500’s 16% gain, as growth-driven names have powered broader market returns.
For Optas, trimming VONV may reflect a tactical shift toward growth and index exposure after a period of lagging performance in the value segment. With value stocks still trading at discounts to the market but struggling to regain leadership, the adjustment underscores a cautious positioning—balancing diversification with a heavier lean toward higher-momentum holdings.
Glossary
Assets Under Management (AUM): The total market value of assets a fund or investment manager oversees on behalf of clients.
Passive investment strategy: An approach aiming to replicate the performance of a specific index, rather than actively selecting securities.
Russell 1000 Value Index: A stock market index tracking large-cap U.S. companies considered undervalued relative to peers.
Diversified portfolio: An investment collection spread across various assets to reduce risk.
Indexing approach: Investment method focused on matching the performance of a market index by holding its constituent securities.
Dividend yield: Annual dividends paid by a security, 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.
Form 13F: A quarterly SEC filing required from institutional investment managers disclosing their equity holdings.
ETF (Exchange-Traded Fund): A fund traded on stock exchanges, holding a basket of securities to track an index or sector.
Reportable U.S. equity assets: U.S. stock holdings that institutional managers must disclose to regulators, typically via Form 13F.
Large-cap: Companies with a large total market value, generally over $10 billion.
Value stocks: Shares of companies considered undervalued based on financial metrics like earnings or book value.
