BlueStem Sells $4 Million of TCW Flexible Income ETF
Key Points
BlueStem sold 115,449 shares of FLXR in the fourth quarter.
The quarter-end position value fell by $4.6 million, reflecting both sales and price changes.
Transaction represented a 0.5% of the firm's reportable 13F assets under management (AUM).
BlueStem held 279,374 shares valued at just over $11 million at the end of the fourth quarter.
FLXR now represents 1.2% of fund assets, placing it outside the fund's top five holdings.
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On February 6, 2026, BlueStem Wealth Partners, LLC reported selling 115,449 shares of TCW Flexible Income ETF (NYSE:FLXR) in the fourth quarter of 2025.
What happened
According to its SEC filing dated February 6, 2026, BlueStem Wealth Partners, LLC reduced its stake in TCW Flexible Income ETF by 115,449 shares during the final quarter of 2025. The estimated value of this transaction, calculated using the average quarterly closing price, was $4.6 million. BlueStem’s position was valued at $11 million at quarter’s end.
What else to know
- BlueStem Wealth Partners, LLC remains a holder of FLXR after the sale; the position accounts for approximately 1.2% of its 13F reportable AUM.
- Top holdings after the filing:
- NYSEMKT: SCHG: $92.0 million (10.2% of AUM)
- NYSEMKT: SCHF: $82.5 million (9.1% of AUM)
- NYSEMKT: DYNF: $71.4 million (7.9% of AUM)
- NYSEMKT: RECS: $55.0 million (6.1% of AUM)
- NYSEMKT: FNDX: $53.5 million (5.9% of AUM)
- As of February 5, 2026, FLXR shares were priced at $39.60, up 7.7% over the past year but underperforming the S&P 500 by 5.9 percentage points.
- Dividend yield for FLXR is 5.6% as of February 6, 2026.
ETF overview
| Metric | Value |
|---|---|
| Net assets | $2.77 billion |
| Dividend yield | 5.6% |
| Price (as of market close 2/5/26) | $39.60 |
| 1-year total return | 7.70% |
ETF snapshot
- Investment strategy emphasizes flexible allocation across global bonds and debt securities of varying maturities and credit qualities, seeking both income and capital appreciation.
- Portfolio composition includes government and corporate bonds, asset-backed securities, bank loans, municipal securities, and money market instruments, with up to 50% in emerging markets and a 65% cap on leveraged finance.
- Fund operates as an actively managed ETF structure and employs derivatives and short-selling for risk management; expense ratio information is not disclosed.
TCW Flexible Income ETF provides investors with a globally diversified, actively managed fixed income portfolio that adapts to changing market and economic conditions. The fund's flexible mandate enables allocation across a wide range of debt instruments, including significant exposure to emerging markets and high-yield securities, while maintaining risk controls on currency and credit quality. This approach aims to deliver attractive income and total return, supported by a competitive dividend yield and a disciplined investment process.
What this transaction means for investors
Bonds are looking more attractive right now after the Federal Reserve cut rates twice last year and may cut rates further in 2026. Some institutional investors have been buying bonds to lock in higher yields before rates fall.
However, BlueStem trimmed its FLXR position in the quarter, while adding to all five of its top stock fund holdings. For a firm managing money for many clients, there could be many reasons why a fund might buy and sell certain positions. But for reasons unknown, BlueStem shifted some assets away from safe, income-generating investments toward stocks, including top holdings SCHG and SCHF.
While bonds can outperform stocks in short periods, stocks have historically outperformed fixed-income investments over longer periods. With the U.S. ISM Manufacturing index moving back above the 50 level, which signals expansion, BlueStem may be positioning for more growth in anticipation of improving economic conditions and more upside in stocks.
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John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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