Texas Wealth Firm Exits Goldman’s High-Yield Nasdaq ETF After Strong Run
Key Points
A Texas-based wealth advisory sold 351,699 shares of the Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ) for an estimated $17.5 million.
The transaction value represented about 2% of 13F reportable assets under management.
The move marked a full exit from the fund, which previously represented 2.7% of the advisory's reported assets.
- These 10 stocks could mint the next wave of millionaires ›
On Thursday, B&D White Capital Company, LLC, disclosed it sold out its entire stake in the Goldman Sachs Nasdaq-100 Premium Income ETF (NASDAQ:GPIQ) for an estimated $17.5 million.
What Happened
According to a filing disclosed to the Securities and Exchange Commission on Thursday, Texas-based B&D White Capital Company, which does business as Coyle Capital, sold its entire holding of 351,699 shares in the Goldman Sachs Nasdaq-100 Premium Income ETF (NASDAQ:GPIQ). The estimated transaction value based on average quarterly pricing was $17.5 million. The fund reported no remaining shares in GPIQ as of September 30.
What Else to Know
Top holdings after the filing:
- NASDAQ:AMZN: $136 million (17.4% of AUM)
- NYSEMKT:AVUS: $60.2 million (7.7% of AUM)
- NYSEMKT:ILCG: $50.7 million (6.5% of AUM)
- NYSEMKT:VTI: $38.5 million (4.9% of AUM)
- NYSEMKT:IWF: $35.2 million (4.5% of AUM)
As of Friday's market close, GPIQ shares were priced at $53.32, up 10.5% over the past year.
ETF Overview
| Metric | Value |
|---|---|
| AUM | $1.9 billion |
| Dividend Yield (TTM) | 9.6% |
| Price (as of market close Friday) | $53.32 |
| 1-Year Total Return | 21.8% |
ETF Snapshot
- GPIQ invests at least 80% of its assets in equity securities from the Nasdaq-100 Index.
- The fund's underlying holdings seek to maintain style, capitalization, and industry characteristics similar to the Nasdaq-100, while maintaining a non-diversified portfolio structure.
- It delivers attractive distributions to investors through a high dividend yield.
The Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ) offers investors targeted exposure to the Nasdaq-100 Index. With a dividend yield of 9.6%, GPIQ provides scale and liquidity for institutional portfolios. The fund delivers attractive distributions to investors.
Foolish Take
B&D White Capital’s full exit from the Goldman Sachs Nasdaq-100 Premium Income ETF seemingly signals a decisive shift away from high-yield, options-based equity strategies that dominated flows in early 2025. The move came alongside a similar liquidation of its stake in GPIX, Goldman’s S&P 500 Premium Income ETF, suggesting a broader pullback from covered-call funds after strong short-term gains.
Coyle’s disciplined, evidence-based philosophy emphasizes market efficiency and long-term diversification, discouraging market timing or yield chasing. Given GPIQ’s 9.6% trailing distribution rate, the exit likely reflects portfolio rebalancing rather than a bearish view on the ETF itself. GPIQ remains a relatively new fund—launched in October 2023—with assets nearing $1.9 billion and exposure to top Nasdaq names like NVIDIA, Microsoft, and Apple.
For long-term investors, the shift highlights a key takeaway from Coyle’s playbook: favoring steady global diversification and avoiding overreliance on income-driven products that may lag in rising markets.
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 above a certain threshold.
AUM (Assets Under Management): The total market value of investments managed by a fund or firm on behalf of clients.
Dividend yield: The annual dividend income expressed as a percentage of the investment's current price.
Premium Income ETF: An ETF strategy focused on generating income by selling options or similar techniques, often boosting yield.
Fully exited: When an investor sells all shares of a particular investment, leaving no remaining position.
Non-diversified portfolio: A portfolio that invests in fewer securities, increasing exposure to specific sectors or companies.
Underlying holdings: The individual securities or assets that make up a fund or ETF.
Distribution: Payments made by a fund to investors, typically from income or capital gains.
TTM: The 12-month period ending with the most recent quarterly report.
Institutional portfolios: Investment portfolios managed on behalf of organizations such as pension funds, endowments, or large asset managers.
Nasdaq-100 Index: A stock market index of 100 of the largest non-financial companies listed on the Nasdaq exchange.
Where to invest $1,000 right now
When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 1,033%* — a market-crushing outperformance compared to 193% for the S&P 500.
They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor.
See the stocks »
*Stock Advisor returns as of October 20, 2025
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Vanguard Total Stock Market ETF. The Motley Fool has a disclosure policy.
Recommended Articles
