Wick Capital’s GPIX Trim: A Portfolio Diary

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Right. So, another day, another SEC filing to pore over. Honestly, you’d think after all these years I’d be immune to the slight panic that sets in when I see those words. It’s like opening a particularly alarming email from your bank. Anyway, Wick Capital Partners, LLC, they’ve been selling. Not everything, mind you. Just 94,359 shares of the Goldman Sachs S&P 500 Premium Income ETF (GPIX). That’s roughly $4.94 million worth, if you’re keeping score. Which, naturally, I am. It’s my job. One has to maintain a semblance of control, even when the market feels determined to prove you wrong.

It’s not a massive exodus, obviously. But it’s enough to make you sit up and think. I mean, Wick Capital reduced their position. That’s a definite shift. They went from holding a 2.76% slice of the fund’s 13F AUM to a slightly smaller 1.88%. It’s not a disaster, but it’s…a statement. A quiet, financial statement. Like a politely worded resignation letter.

The thing is, GPIX is…interesting. It’s not just a straight S&P 500 tracker. It’s trying to do something. Generate income, specifically. Which sounds lovely in theory. I mean, who doesn’t want more income? It’s like wanting more chocolate. It just feels…right. But it’s not quite that simple, is it? They’re using a covered call strategy. Which, if you don’t know, involves selling call options against their equity holdings. It boosts the yield – a rather impressive 8.10% TTM dividend yield, I must admit – but it also caps your upside. It’s a trade-off. Always is. It’s like choosing between a comfortable sofa and a thrilling adventure. You can’t have both.

Top holdings, for anyone interested (and I assume, if you’re reading this, you are): ITOT ($130.53 million, 23.4% of AUM), VTI ($44.52 million, 8.0%), IVVB ($33.94 million, 6.1%), IVV ($26.26 million, 4.7%), and GBXA ($21.75 million, 3.9%). Solid, reliable stuff. The kind of things that don’t set your heart racing, but also don’t keep you up at night. Which, frankly, is a win.

As of February 19th, 2026, GPIX was trading at $52.46, up 12.5% over the past year. Outperforming the S&P 500 by a mere 0.80 percentage points. It’s not exactly fireworks, but it’s…respectable. Like a perfectly acceptable, if slightly underwhelming, date.

Here’s a quick rundown of the key metrics (because lists are comforting):

Metric Value
AUM $3.13 billion
Price (Feb 19, 2026) $52.46
Dividend Yield (TTM) 8.10%
1-year Total Return 12.48%
Expense Ratio 0.29%

So, what does all this mean? Well, Wick Capital’s move suggests they’re perhaps re-evaluating their income strategy. Maybe they’re anticipating a more bullish market and want to unlock more upside potential. Or maybe they just needed the cash. Honestly, who knows? The minds of hedge fund managers are mysterious things. Like trying to understand the rules of cricket.

The fund, in essence, is a balancing act. It’s trying to deliver both income and capital appreciation. It’s a noble goal, but a difficult one to achieve. Over the last two years, it’s underperformed the S&P 500 by a few percentage points (36% vs 39%). It’s not a disaster, but it’s a reminder that you can’t always have it all. It’s like trying to eat your cake and have it too.

Still, for income-seeking investors, GPIX remains a viable option. The hefty dividend yield, combined with a reasonable expense ratio, makes it an attractive choice. It’s not going to make you a millionaire overnight, but it might help you sleep a little easier at night. And frankly, in this market, that’s worth something.

Units of Cryptocurrency Lost: 0 (So far). Hours Spent Watching Charts: 7. Number of Panicked Texts to Friends: 3. Must. Be. Disciplined. Long-term investor. Yes. That’s the plan.

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2026-02-23 19:53