Lockheed Martin Investment Management Co. significantly increased its stake in the iShares Core U.S. Aggregate Bond ETF (NYSEARCA: AGG) by an impressive 458.2% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the firm now holds 2,065,000 shares after acquiring an additional 1,695,075 shares in this period. This investment now accounts for approximately 7.5% of Lockheed Martin’s overall portfolio, making it the firm’s second-largest holding.
By the end of the recent reporting period, Lockheed Martin’s investment in the iShares Core U.S. Aggregate Bond ETF was valued at about $204,848,000, representing 0.16% of the ETF’s total shares. This substantial increase highlights a growing interest in bond ETFs among institutional investors, who have been adjusting their portfolios amidst fluctuating market conditions.
Other institutional investors have also made notable moves in the iShares Core U.S. Aggregate Bond ETF. For instance, US Bancorp DE boosted its holdings by 29.1% during the second quarter, bringing its total to 43,988,044 shares, worth approximately $4,363,640,000. Similarly, Jones Financial Companies Lllp increased its stake by 7.5%, now owning 138,625,924 shares valued at around $13,686,743,000.
Envestnet Asset Management Inc. also raised its investment by 11.8%, acquiring an additional 5,728,914 shares to reach a total of 54,218,326 shares, valued at $5,378,443,000. Meanwhile, RWA Wealth Partners LLC made headlines with a staggering increase of 8,534.9% in its holdings, now owning 4,916,363 shares worth $486,327,000 after a significant buy. Nisa Investment Advisors LLC entered the scene with a new position valued at approximately $395,573,000 in the same ETF.
The iShares Core U.S. Aggregate Bond ETF has captured considerable attention within the investment community. As of Friday, shares of AGG opened at $100.60, with a twelve-month low of $95.74 and a high of $101.35. With a market capitalization of $135.38 billion, the ETF features a P/E ratio of 124.57 and a beta of 0.25, indicating lower volatility compared to the broader market.
Investors are drawn to iShares due to their low costs, tax efficiency, and trading flexibility. These index funds can be purchased and sold like common stocks on national and certain foreign securities exchanges, making them accessible to a wide range of investors.
As institutional ownership of the iShares Core U.S. Aggregate Bond ETF stands at 83.63%, the growing interest from major investment firms signals a strong confidence in the bond market as a stable investment option.
