Client First Capital Initiates Stake in iShares AAA CLO Active ETF, According to Recent SEC Filing
Key Points
Client First Capital LLC bought 134,379 shares of iShares AAA CLO Active ETF (CLOA) with an estimated trade size of $6.96 million based on average prices during the quarter
Quarter-end position of $6.97 million, entirely attributable to the new purchase of 134,379 shares.
Transaction value represented 3.02% of 13F reportable assets under management at quarter end.
Post-trade stake: 134,379 shares valued at $6.97 million at quarter end
The new stake represents 3.02% of fund AUM, which places it outside the fund’s top five holdings
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What happened
According to a SEC filing dated April 24, 2026, Client First Capital LLC reported a new holding of 134,379 shares in BlackRock ETF Trust II - iShares AAA CLO Active ETF (NASDAQ:CLOA). The quarter-end value of the position was $6.97 million, reflecting the recent purchase.
What else to know
This was a new position for the fund, representing 3.02% of its 13F reportable assets under management following the trade
Top five holdings after this filing:
- NASDAQ: QQQ: $44.36 million (19.5% of AUM)
- NYSE: SHV: $31.52 million (13.9% of AUM)
- NYSEMKT: IVV: $31.19 million (13.7% of AUM)
- NYSEMKT: QUAL: $23.65 million (10.4% of AUM)
- NYSEMKT: USFR: $23.59 million (10.4% of AUM)
As of April 26, 2026, shares were priced at $51.91. Over the past year, the ETF returned 5.87%, underperforming the S&P 500 by 24.76 percentage points.
ETF overview
| Metric | Value |
|---|---|
| AUM | 1.94 billion |
| Dividend yield | 5.21% |
| Price (as of market close 2026-04-24) | $51.91 |
| 1-year total return | 5.87% |
ETF snapshot
The iShares AAA CLO Active ETF offers institutional investors exposure to a diversified pool of AAA-rated CLOs, emphasizing stability and income generation. The fund's active management and focus on the highest-rated tranches aim to mitigate credit risk while seeking attractive yields relative to traditional fixed income.
Its portfolio holdings are concentrated in highly rated CLO tranches, targeting low credit risk and prioritizing principal protection while generating income from underlying loan pools.
The fund seeks to provide capital preservation and current income by actively investing in a portfolio of U.S. dollar-denominated AAA-rated collateralized loan obligations (CLOs). With a sizable asset base and a disciplined investment process, the ETF is positioned as a specialized solution for conservative income-oriented portfolios.
What this transaction means for investors
The iShares AAA CLO Active ETF gives investors access to AAA-rated tranches of collateralized loan obligations, a structured-credit market built on pools of leveraged loans. These tranches sit at the top of the CLO capital structure, giving them priority on cash flows from the underlying loans. However, investors are still influenced by broader credit-market trends.
CLOA’s income comes from floating-rate securities, so payouts can change as short-term interest rates move. The AAA rating shows these tranches are senior, but it does not mean they are risk-free. Changes in credit spreads, market liquidity, or stress in the leveraged-loan market can still impact prices, even though these top-rated tranches have some built-in protection.
For investors, CLOA serves as a higher-income alternative to traditional high-quality bond exposure. The fund may offer higher yields and less interest-rate sensitivity than many core bond funds, since it uses structured credit rather than government or corporate bonds. This setup provides income with a senior claim but also adds more complexity and greater sensitivity to changes in the credit market.
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Eric Trie 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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