XML Financial’s $21.6 Million Exit from Vanguard Bond ETF: A Shifting Strategy

On October 20, 2025, in a filing with the Securities and Exchange Commission, XML Financial disclosed the complete sale of its 293,210-share stake in the Vanguard Total Bond Market ETF (BND). With the shares changing hands for approximately $21.59 million, this exit marks the end of XML’s bond market engagement through BND-an instrument that once represented a solid 1.87% of the firm’s total assets under management. Now, as the dust settles, XML reports no position in the ETF, a quiet yet impactful shift in their portfolio.

Kafkaesque Sale of IIPR: Koa Wealth’s Cold Exit

In a filing dated October 28, 2025, to the U.S. Securities and Exchange Commission, Koa Wealth Management, LLC solemnly announced the complete liquidation of its stake in Innovative Industrial Properties. The shares, once firmly held in the fund’s portfolio, were dispensed with in an action that bore the hallmarks of finality. At the close of Q3 2025, the fund held not a single share of the company. A stark zero. And with this, the name of Innovative Industrial Properties fades into the distant past of financial history, leaving no trace of its former 3.0% share in the fund’s Assets Under Management (AUM).

Thames Capital Bets on Hut 8’s Digital Gold Rush

The portfolio reveals familiar constellations: GEV, VRT, and RKT orbit closely, their gravitational pull steady. Yet Hut 8’s trajectory merits attention. Shares closed at $49.80 on October 27, having surged 189% year-over-year-a sprint outpacing the S&P 500 by two hundred whispered promises. The company’s balance sheet bears the peculiar arithmetic of the digital age: $162.38 million in revenue accompanied by a net income of $331.88 million, as if prosperity here is mined not from earth, but from the volatile strata of cryptocurrency itself.

Carr Financial’s Bond Moves: A Dostoevskian Market Reflection

The filing, dated October 7, 2025, speaks in the cold arithmetic of SEC Form 13F. Vanguard Total Bond Market ETF swells to 416,423 shares under Carr’s stewardship, now valued at $30.97 million. Eight-point-five percent of assets under management-this is no mere investment. It is a confession. Bonds, those anemic promises of stability, now dominate their portfolio like a specter at the feast of capitalism. What madness drives them? Or is it sanity, this desperate clutching at fixed income in an age of algorithmic chaos?

Moody Lynn & Lieberson Sells ServiceNow Stake: A Curious Move?

According to a filing with the Securities and Exchange Commission, the firm offloaded its ServiceNow stake during Q3 2025. Post-sale, it retained 30,135 shares, valued at $27.7 million. The math here is as elegant as a tax return: the fund’s ServiceNow position now constitutes 1.5% of its 13F reportable assets, down from nearly 2%. A drop in the bucket, one might say, though not so small as to be entirely forgettable.

Orser’s Treasury Gambit

According to a filing with the Securities and Exchange Commission, dated October 07, 2025, Orser Capital, ever the meticulous archivist, increased its position in the Vanguard Short-Term Treasury ETF by 91,975 shares. This act of numerical devotion elevated its total holdings to 269,000 shares, a sum that now commands $15.83 million. The ETF, that paragon of fiscal prudence, continues to be Orser’s second-biggest holding, a testament to its enduring allure.

Mirador’s ETF Dominion

According to a filing with the Securities and Exchange Commission, dated Oct. 6, 2025, Mirador’s hand extended further, acquiring 961,109 shares. This act elevated the fund’s holdings to over 3 million shares, a sum worth $71.08 million-a treasure chest of debt, its contents humming with the promise of 6.25% dividends. The ETF, once a mere footnote, now stood as the fund’s sovereign domain.