BTS Asset Management, Inc.

Long Only Manager

BTS Asset Management, Inc. is a Long Only Manager based in Lincoln, MA led by Matthew Alexander Pasts, reporting $188.8M in AUM as of Q3 2025 with 92% ETF concentration, 91% concentrated in top 10 holdings, and 36% allocation to HYLB.

CEOMatthew Alexander Pasts

Portfolio Value: $78.0M
Positions: 30
Top Holding: HYLB at 35.89%
Last Reported: Q3 2025

Address55 Old Bedford Road, Suite 203, Lincoln, MA, 01773, United States

Top Holdings

Largest long holdings in BTS Asset Management, Inc.'s portfolio (91% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Xtrackers USD High Yield Corporate Bond HYLB	ETF ETF	$28.0M	35.89%	-$2.6M Sold	— 754.4K shares	Q2 2021 Held for 4y 5m
2 iShares Broad USD High Yield Corporate Bond USHY	ETF ETF	$28.0M	35.86%	-$2.5M Sold	— 740.4K shares	Q4 2022 Held for 2y 11m
3 Invesco S&P 500 High Dividend Low Volatility SPHD	ETF ETF	$9.6M	12.25%	-$1.0M Sold	— 193.3K shares	Q2 2025 Held for 5 months
4 JPMorgan Equity Premium Income JEPI	ETF ETF	$1.2M	1.54%	+$648.5K Bought	— 21.0K shares	Q3 2024 Held for 1y 2m
5 Kroger KR	Grocery Stores Consumer Defensive	$1.0M	1.29%	+$1.0M New	0.00% 14.9K shares	Q3 2025 Held for 2 months
6 iShares Treasury Floating Rate Bond TFLO	ETF ETF	$914.9K	1.17%	+$10.3K Bought	— 18.1K shares	Q2 2022 Held for 3y 5m
7 Janus Henderson B-BBB CLO JBBB	ETF ETF	$610.1K	0.78%	+$309.6K Bought	— 12.7K shares	Q4 2023 Held for 1y 11m
8 J.P. Morgan Nasdaq Equity Premium Income JEPQ	ETF ETF	$589.5K	0.76%	+$9.5K Bought	— 10.2K shares	Q3 2024 Held for 1y 2m
9 iShares 7-10 Year Treasury Bond IEF	ETF ETF	$584.1K	0.75%	+$584.1K Bought	— 6.1K shares	Q3 2024 Held for 1y 2m
10 Comcast CMCSA	Telecommunications Services Communication Services	$574.3K	0.74%	+$238.3K Bought	0.00% 18.3K shares	Q4 2024 Held for 11 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in BTS Asset Management, Inc.'s latest filing

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Market Value

$78.0M

Prior: $83.0M

Q/Q Change

-6.06%

-$5.0M

Net Flows % of MV

-11.3%

Turnover Ratio

11.07%

New Purchases

2 stocks

$1.2M

Added To

12 stocks

+$1.7M

Sold Out Of

14 stocks

$5.2M

Reduced Holdings

8 stocks

-$6.5M

Increased Positions

Position	Shares Δ	Change
1 Kroger KR	New	0 → 14.9K +$1.0M
2 CF Industries CF	New	0 → 2.3K +$207.6K
3 JPMorgan Equity Premium Income JEPI	+117.58%	9.7K → 21.0K +$648.5K
4 Janus Henderson B-BBB CLO JBBB	+103.05%	6.2K → 12.7K +$309.6K
5 Nvidia NVDA	+77.85%	1.6K → 2.8K +$226.9K

Decreased Positions

Position	Shares Δ	Change
1 Global X SuperDividend SDIV	Sold	26.8K → 0 −$604.4K
2 Marsh & McLennan Companies MMC	Sold	2.2K → 0 −$473.1K
3 Aon plc AON	Sold	1.3K → 0 −$473.1K
4 iShares 3-7 Year Treasury Bond IEI	Sold	3.8K → 0 −$452.8K
5 iShares Floating Rate Bond FLOT	Sold	8.9K → 0 −$452.2K