$16 Million Small-Cap Signal: Why a 113,000-Share ETF Buy Matters After a Volatile Year

On January 28, TBH Global Asset Management disclosed a buy of 113,339 shares of the iShares S&P Small-Cap 600 Growth ETF (NASDAQ:IJT), with an estimated transaction value of $16.04 million based on quarterly average pricing.

What happened

According to a Securities and Exchange Commission (SEC) filing dated January 28, TBH Global Asset Management increased its position in the iShares S&P Small-Cap 600 Growth ETF (NASDAQ:IJT) by 113,339 shares. The estimated value of the buy, based on the quarter’s average share price, was $16.04 million. The fund’s quarter-end stake was valued at $11.18 million, a net position change of $10.62 million that includes both trading activity and price movement.

What else to know

Post-buy, IJT represents 1.87% of TBH Global’s 13F reportable AUM.

Top five holdings after the filing:

• NASDAQ: AAPL: $66.16 million (11.0% of AUM)
• NASDAQ: GOOGL: $35.64 million (5.9% of AUM)
• NYSEMKT: IVW: $27.71 million (4.6% of AUM)
• NYSEMKT: JMUB: $23.67 million (3.9% of AUM)
• NYSE: BRK-B: $19.44 million (3.2% of AUM)

As of January 28, shares of IJT were priced at $148.74.

ETF overview

ETF snapshot

• IJT seeks to track the performance of the S&P SmallCap 600 Growth Index, providing exposure to U.S. small-cap growth equities through a rules-based, passively managed strategy.
• The fund holds a diversified portfolio of small-cap growth stocks, with at least 80% of assets invested in index constituents and the remainder in cash equivalents or derivatives for efficient portfolio management.
• It operates as an open-ended ETF structure with a competitive expense ratio, targeting institutional and individual investors seeking long-term capital appreciation from the small-cap growth segment.

The iShares S&P Small-Cap 600 Growth ETF (IJT) offers investors targeted access to the U.S. small-cap growth equity market by tracking a well-established benchmark index. The fund's disciplined, index-based approach ensures broad diversification across growth-oriented small-cap companies. With a sizable asset base and a focus on efficient portfolio construction, IJT appeals to investors seeking exposure to high-growth potential within the small-cap universe.

What this transaction means for investors

What stands out here is not the size of the trade on its own, but the role it plays inside a portfolio that already leans heavily toward large-cap, mega-cap, and index exposure. Adding meaningful small-cap growth exposure changes the portfolio’s risk profile in a way that is hard to replicate with single-stock bets.

The ETF offers broad access to nearly 350 U.S. small-cap growth companies, spanning industrials, technology, health care, and financials. That diversification matters at a time when small caps have lagged mega-cap leaders for much of the past cycle, even as earnings growth expectations remain intact. With a sub-0.20% expense ratio and deep liquidity, this is a scalable way to express a cyclical view without taking balance-sheet risk on individual names.

For long-term investors, the timing is notable. Small-cap growth stocks historically benefit when rate volatility stabilizes, and capital broadens beyond the largest companies. This position also complements a portfolio anchored by Apple, Alphabet, Berkshire, and broad equity ETFs, filling a structural gap rather than replacing existing exposure.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Apple. The Motley Fool has a disclosure policy.