B & T Capital Scoops Up 105K Shares of IGF in Infrastructure Play

On November 12, 2025, B & T Capital Management DBA Alpha Capital Management disclosed a new position in iShares Trust - iShares Global Infrastructure ETF, adding approximately $6.41 million in value.

• Acquired 104,940 shares, an estimated $6.41 million increase
• Change represents 1.0174% of 13F reportable assets under management
• Post-trade stake: 104,940 shares valued at approximately $6.41 million
• New position; stake places IGF outside the fund’s top five holdings

What happened

According to a filing with the U.S. Securities and Exchange Commission dated November 12, 2025, B & T Capital Management DBA Alpha Capital Management initiated a new investment in iShares Trust - iShares Global Infrastructure ETF (NASDAQ:IGF). The firm acquired 104,940 shares during the third quarter, bringing the position’s value to approximately $6.41 million, or approximately 1.02% of its approximately $630.41 million in reportable U.S. equity assets.

What else to know

• This is a new position; IGF now represents 1.0174% of the fund’s 13F reportable assets, outside its top five holdings.
• Top holdings after the filing:
  • NASDAQ: QQQ: $55.80 million (8.9% of AUM)
  • NASDAQ: VIGI: $26.34 million (4.2% of AUM)
  • NYSEMKT: BIL: $25.19 million (4.0% of AUM)
  • NYSEMKT: SCHX: $21.40 million (3.4% of AUM)
  • NYSEMKT: SCHG: $21.39 million (3.4% of AUM)
• As of November 11, 2025, IGF shares were priced at $62.36, up 18.71% in the past year, outperforming the S&P 500 by 4.90 percentage points.
• The fund reported a 2.94% annualized dividend yield and closed 0.27% below its 52-week high.

Company overview

Company snapshot

• Investment strategy seeks to track the performance of large global infrastructure companies across developed and emerging markets by investing at least 80% of assets in index constituents and similar investments.
• The portfolio is composed primarily of equities of large infrastructure companies in developed and emerging markets.
• The fund is structured as an ETF with a passive management approach.

iShares Global Infrastructure ETF provides investors with targeted exposure to leading infrastructure companies worldwide, leveraging a rules-based index methodology. The fund's scale, with a market capitalization of $8.39 billion, enables broad diversification across geographies and sectors within the infrastructure space.

By focusing on essential infrastructure assets, the ETF aims to deliver stable income through dividends and potential capital appreciation, appealing to investors seeking defensive characteristics and long-term growth. Its passive structure and global reach position it as a core holding for those allocating to real assets within a diversified portfolio.

Foolish take

B & T Capital initiated a position in iShares Global Infrastructure ETF (IGF) during Q3 2025 worth approximately $6.4 million. This represented about 1% of the capital manager’s AUM, which is a fairly large starter investment for the company, which owns many other ETFs and a wide range of other individual stocks across industries.

The iShares Global Infrastructure ETF aims to track the performance of large infrastructure companies across the globe, including both developed and emerging markets. It primarily invests in equities of those companies, including holdings like NextEra Energy (NYSE:NEE) and Constellation Energy Corporation (NASDAQ:CEG). This passively managed fund does have a fairly high expense ratio of 0.39%, but compared to its 1-year total return of 18.71%, this is a drop in the bucket. If it can continue to perform like this, the extra fees may well be worth the cost.

ETFs that are well-balanced and curated are always good choices for portfolios that may otherwise lack diversity, especially those that aren’t focused on MAG7 companies. Adding ETFs like this can make your portfolio more robust and diversify without all the work of choosing individual stocks with a wider range of economic and regional influences.

Glossary

ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.

13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC if exceeding $100 million.

Assets Under Management (AUM): The total market value of investments managed by a fund or investment firm.

Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.

Passive management: An investment strategy aiming to replicate the performance of a market index rather than outperform it.

Index constituents: The individual securities or companies that make up a financial index.

Capital appreciation: The increase in the value of an asset or investment over time.

Rules-based index methodology: A systematic approach to selecting and weighting index components based on predefined criteria.

Defensive characteristics: Features of investments that tend to provide stability and lower risk during market downturns.

Real assets: Physical or tangible assets like infrastructure, real estate, or commodities, as opposed to financial assets.

Infrastructure companies: Firms involved in essential services such as transportation, utilities, energy, and communication networks.

Reportable U.S. equity assets: U.S. stock holdings that must be disclosed by investment managers in regulatory filings.

Kristi Waterworth has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Constellation Energy and NextEra Energy. The Motley Fool has a disclosure policy.