Gemmer Asset Management 13F: Exits EFAX Stake

Gemmer Asset Management disclosed on October 16, 2026, that it has completely exited its position in the State Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETF, also known as EFAX. The fund sold all 713,531 shares, marking a 100% decrease in its stake. This decision comes as part of a broader shift in their investment strategy.

What Changed in Gemmer Asset Management's EFAX Position

Gemmer Asset Management sold out of its entire position in EFAX, reducing its share count from 713,531 to 0 shares. This move reflects a notable exit from the ETF, which is designed to track companies in the MSCI EAFE Index that do not have fossil fuel reserves as part of their operations.

State Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETF Stock Down 0.5%

As of October 16, 2026, EFAX was trading at $53.15, which is below its 50-day moving average of $54.83 and its 200-day moving average of $53.29. The shares are also about 5.9% off their 52-week high of $56.51, but they sit above the 52-week low of $47.86, showing some resilience in a fluctuating market.

About State Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETF

The State Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETF invests primarily in securities that are part of the MSCI EAFE Index, excluding companies with fossil fuel reserves. This strategy aligns with environmental, social, and governance (ESG) investing principles, appealing to socially conscious investors.

Bottom Line

Gemmer Asset Management's full exit from EFAX reflects a significant change in its investment approach. Investors should watch for any future filings that may indicate how the fund reallocates its assets. Remember, this filing reflects holdings as of the reporting period and may not represent the fund's current position. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.