Key Points
Sold 134,355 shares of KBWB, with the trade value estimated at $10.6 million (based on quarterly average price).
Quarter-end position value decreased by $9.5 million, reflecting both trading and market price movements.
Transaction represented 0.7% of reportable assets under management (AUM).
Valley Wealth reported holding 167,467 shares valued at $14.1 million at the of the fourth quarter.
KBWB now accounts for 0.9% of fund AUM, placing it outside the fund's top five holdings.
On Feb. 4, 2026, Valley Wealth Managers, Inc. disclosed selling 134,355 shares ofthe Invesco KBW Bank ETF(NASDAQ:KBWB), an estimated $10.6 million trade based on quarterly average pricing.
What happened
According to a SEC filing dated Feb. 4, 2026, Valley Wealth Managers, Inc. sold 134,355 shares of Invesco KBW Bank ETF during the fourth quarter. The estimated transaction value was $10.6 million. The fund’s quarter-end KBWB position was valued at $14.1 million, down $9.5 million from the prior quarter, reflecting both the share sale and market price shifts.
What else to know
- Following the sale, the KBWB stake represents 0.9% of 13F AUM.
- Top five holdings after the filing:
- NASDAQ:VONG: $58.1 million (3.7% of AUM)
- NASDAQ:AAPL: $52.3 million (3.4% of AUM)
- NASDAQ:AVGO: $47.2 million (3.0% of AUM)
- NASDAQ:GOOGL: $40.8 million (2.6% of AUM)
- NASDAQ:STX: $36.5 million (2.3% of AUM)
- As of Feb. 3, 2026, KBWB shares were priced at $88.35, up 26.1% over the past year, outperforming the S&P 500 by 10.7 percentage points.
- KBWB’s dividend yield was 1.94% as of Feb. 3, 2026.
ETF overview
| Metric | Value |
|---|---|
| Market value | $6.15 billion |
| Price (as of market close February 3, 2026) | $88.35 |
| Dividend yield | 1.94% |
| 1-year total return | 29.1% |
ETF snapshot
- Tracks a modified market capitalization-weighted index of publicly traded U.S. banks, focusing on large national money centers, regional banks, and thrift institutions.
- The portfolio focuses on equities of U.S. banking companies, with at least 90% of assets allocated to securities in the KBW Nasdaq Bank Index.
- Structured as a non-diversified ETF, offering exposure to the U.S. banking sector with a transparent, rules-based approach.
The Invesco KBW Bank ETF provides targeted exposure to the U.S. banking industry by tracking a benchmark of major national and regional banks. The fund’s strategy emphasizes liquidity and sector concentration, appealing to investors seeking to participate in the performance of leading U.S. financial institutions. With a substantial asset base and a disciplined index methodology, the ETF provides a cost-efficient vehicle for banking-sector allocation.
What this transaction means for investors
Valley Wealth Managers holds a diversified portfolio of ETFs and stocks for its clients. Institutional investors were making many adjustments at the end of 2025 amid shifting interest rates and changing market conditions.
While Valley Wealth was adding to large stakes in Apple and the Vanguard Russell 1000 Growth ETF, it sold a large chunk of its KBWB position, a top bank ETF.
Bank stocks just completed a relatively strong year, with KBWB outperforming the S&P 500. But the smart money may be lowering its growth outlook for leading banks following the Federal Reserve’s decision to cut rates toward the end of the year.
Analysts are expecting at least one more rate cut in 2026. The prospect of lower interest rates is a headwind for banks, as it puts pressure on their net interest margin—the spread between the income from lending and the cost of paying interest on deposits.
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