TFC Files Schedule 13G/A Showing 2,877 Shares in Crossmark ETF
Rhea-AI Filing Summary
Truist Financial Corporation filed an amended Schedule 13G reporting ownership of 2,877 shares of the Crossmark ETF Trust Exchange Traded Fund (CUSIP 22767F103). The holdings represent 0.46% of the class and are held with sole dispositive power while Truist reports no voting power. The filing states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. The filing lists Truist as the parent holding company for Truist Advisory Services, Inc., and is certified by Edward M. Kwiatkowski, Vice President, dated
Positive
- Clear passive ownership assertion stating holdings were acquired in the ordinary course of business
- Complete disclosure of dispositive and voting powers with specific share and percentage metrics
Negative
- No voting power reported, so limited ability to influence issuer matters
- Small economic stake at 0.46%, unlikely to be strategically material
Insights
Small passive stake by a bank-affiliated advisor; non-control position.
The filing shows a 0.46% position of 2,877 shares held with sole dispositive power but no voting power, indicating control over disposition but not voting influence. Classification as an IA and HC reflects the reporting structure through a parent holding company and affiliated registered adviser.
Dependence on ordinary-course acquisition language suggests this is a portfolio or client-advised holding rather than an activist stake; monitor for material increases above
Filing meets passive-ownership certifications required under Rule 13d-1.
The statement includes the required certification that the securities "were acquired and are held in the ordinary course of business" and not with the purpose of influencing control, aligning with passive Schedule 13G treatment. The document also identifies the reporting chain: Truist Financial Corp as parent holding company and Truist Advisory Services, Inc. as the affiliated adviser.
For regulatory monitoring, confirm future filings if ownership crosses the