Freestate Advisors LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 9, 2025), Freestate Advisors LLC reported 38 stock positions worth $100.8 million. Its top holding was SS SPDR P S&P 500 Value ETF (SPYV) at 16.8% of the portfolio, followed by Schwab Intl Equity ETF (SCHF, 12.5%) and Vanguard S&P 500 ETF (VOO, 10.4%). Compared with Q4 2024, it opened 4 new positions, sold out of 3, added to 18 and reduced 12. The biggest buy was Avantis US Small Cap Value (AVUV, shares +201%) and the biggest sale iShares 5-10Y Inv Grade (IGIB, shares −26%).
- Most Recent 13F
- Q2 2026
- Location
- OVERLAND PARK, KS
- CIK
- 0001660328
- Portfolio Value
- $100.8M (Q1 2025)
- SEC Filing
- 0001660328-25-000003 ↗ filed Apr 9, 2025
Holdings Value
Holdings 38 stocks · $100.8M
| SPYV SS SPDR P S&P 500 Value ETF | 16.83% | 332,216 | $17.0M | Reduce -5.1% |
| SCHF Schwab Intl Equity ETF | 12.51% | 637,603 | $12.6M | Add +23.1% |
| VOO Vanguard S&P 500 ETF | 10.40% | 20,389 | $10.5M | Add +39.7% |
| SHYG iShares 0-5 YR HY Corp. Bond | 10.34% | 245,172 | $10.4M | Add +32.8% |
| IGIB iShares 5-10Y Inv Grade Corp. | 9.79% | 187,940 | $9.9M | Reduce -26.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 8.31% | 14,971 | $8.4M | Reduce -3.6% |
| AGG iShares Core U.S. Aggregate | 6.19% | 63,024 | $6.2M | Reduce -29.0% |
| AVUV Avantis US Small Cap Value | 4.84% | 56,004 | $4.9M | Add +200.9% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 4.02% | 44,139 | $4.0M | Reduce -22.4% |
| SCHD Schwab US DVD Equity ETF | 2.28% | 82,250 | $2.3M | Add +31.8% |
| SPIB SS SPDR P Int C Corp. ETF | 2.10% | 63,561 | $2.1M | Add +24.3% |
| SHY iShares 1-3 Year Treasury Bo | 1.72% | 20,979 | $1.7M | Reduce -18.4% |
| LVHI Franklin International Low V | 1.20% | 37,366 | $1.2M | Add +86.2% |
| DGRO iShares Core Dividend Growth | 1.01% | 16,503 | $1.0M | Reduce -35.7% |
| AAPL Apple Inc. | 0.89% | 4,054 | $900K | Add +3.8% |
| QGRO American Century US Quality | 0.88% | 9,471 | $887K | Reduce -3.1% |
| SGOV iShares 0-3 Month Treasury B | 0.68% | 6,781 | $683K | Add +53.9% |
| MMM 3M Co. | 0.60% | 4,104 | $603K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.52% | 2,121 | $527K | No change |
| T AT&T Inc. | 0.47% | 16,601 | $469K | No change |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.42% | 1,004 | $421K | Add +0.5% |
| VZ Verizon Communications Inc. | 0.41% | 9,131 | $414K | Add +0.0% |
| JPM JPMorgan Chase & Co. | 0.35% | 1,458 | $358K | Add +0.1% |
| IQLT iShares MSCI International Q | 0.34% | 8,545 | $339K | Reduce -4.4% |
| JBBB Janus Henderson B-BBB Clo Et | 0.32% | 6,538 | $318K | New |
| VWO Vanguard Ftse Emerging Marke | 0.30% | 6,652 | $301K | Add +11.1% |
| FDHY Fidelity Enh Hi YLD ETF | 0.27% | 5,711 | $274K | Reduce -2.4% |
| DE Deere & Co. | 0.27% | 572 | $268K | Add +0.3% |
| VTIP Vanguard Short-Term Tips | 0.26% | 5,312 | $265K | Reduce -3.7% |
| CGSD Cap Group Short Duration | 0.25% | 9,691 | $250K | New |
| AMZN Amazon.com Inc. | 0.24% | 1,270 | $242K | Reduce -1.9% |
| RFI Cohen & Steers Tot Ret RLTY | 0.24% | 19,609 | $237K | Add +52.1% |
| IP International Paper Co. | 0.23% | 4,413 | $235K | No change |
| DOW Dow Inc. | 0.22% | 6,342 | $221K | Add +26.0% |
| FSCO FS Credit Opportunities Corp. | 0.08% | 12,060 | $85K | New |
| OXFORD LANE CAP CORP | 0.07% | 15,268 | $72K | Add +5.6% |
| CCIF Carlyle Credit Income Fund | 0.07% | 10,357 | $70K | New |
| XAI OCTAGN FLT RAT & ALT INM | 0.07% | 11,806 | $70K | Add +2.7% |
Portfolio Sells Q4 2024 → Q1 2025
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -26.3% | 9.79% | −3.78 |
| AGG iShares Core U.S. Aggregate | Reduce -29.0% | 6.19% | −2.71 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -5.1% | 16.83% | −1.68 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -22.4% | 4.02% | −1.36 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -3.6% | 8.31% | −1.10 |
| DGRO iShares Core Dividend Growth | Reduce -35.7% | 1.01% | −0.62 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -18.4% | 1.72% | −0.46 |
| VCSH Vanguard S/T Corp. Bond ETF | Sold out | 0.00% | −0.37 |
| WHR Whirlpool Corp. | Sold out | 0.00% | −0.24 |
| QGRO American Century US Quality | Reduce -3.1% | 0.88% | −0.13 |
| JPC Nuveen Prefered & Income Opp | Sold out | 0.00% | −0.10 |
| AMZN Amazon.com Inc. | Reduce -1.9% | 0.24% | −0.05 |
| FDHY Fidelity Enh Hi YLD ETF | Reduce -2.4% | 0.27% | −0.02 |
| VTIP Vanguard Short-Term Tips | Reduce -3.7% | 0.26% | −0.01 |
| IQLT iShares MSCI International Q | Reduce -4.4% | 0.34% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| AVUV Avantis US Small Cap Value | Add +200.9% | 4.84% | +2.99 |
| SCHF Schwab Intl Equity ETF | Add +23.1% | 12.51% | +2.61 |
| VOO Vanguard S&P 500 ETF | Add +39.7% | 10.40% | +2.27 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +32.8% | 10.34% | +2.21 |
| LVHI Franklin International Low V | Add +86.2% | 1.20% | +0.57 |
| SCHD Schwab US DVD Equity ETF | Add +31.8% | 2.28% | +0.52 |
| SPIB SS SPDR P Int C Corp. ETF | Add +24.3% | 2.10% | +0.36 |
| JBBB Janus Henderson B-BBB Clo Et | New | 0.32% | +0.32 |
| CGSD Cap Group Short Duration | New | 0.25% | +0.25 |
| SGOV iShares 0-3 Month Treasury B | Add +53.9% | 0.68% | +0.22 |
| FSCO FS Credit Opportunities Corp. | New | 0.08% | +0.08 |
| RFI Cohen & Steers Tot Ret RLTY | Add +52.1% | 0.24% | +0.08 |
| CCIF Carlyle Credit Income Fund | New | 0.07% | +0.07 |
| VZ Verizon Communications Inc. | Add +0.0% | 0.41% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +11.1% | 0.30% | +0.03 |
| DE Deere & Co. | Add +0.3% | 0.27% | +0.02 |
| DOW Dow Inc. | Add +26.0% | 0.22% | +0.01 |
| OXFORD LANE CAP CORP | Add +5.6% | 0.07% | −0.00 |
| JPM JPMorgan Chase & Co. | Add +0.1% | 0.35% | −0.01 |
| XAI OCTAGN FLT RAT & ALT INM | Add +2.7% | 0.07% | −0.01 |
| DIA SS SPDR Dow Jones Indus Avg | Add +0.5% | 0.42% | −0.02 |
| AAPL Apple Inc. | Add +3.8% | 0.89% | −0.12 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 42 | $133.9M | SPYV, VOO, SCHF, AGG, SHYG |
| Q1 2026 | 42 | $125.1M | SPYV, VOO, SCHF, AGG, SHYG |
| Q4 2025 | 41 | $123.1M | SPYV, VOO, SCHF, AGG, SHYG |
| Q3 2025 | 42 | $119.2M | SPYV, VOO, SCHF, AGG, SHYG |
| Q2 2025 | 46 | $112.0M | SPYV, SCHF, VOO, AGG, SHYG |
| Q1 2025 | 38 | $100.8M | SPYV, SCHF, VOO, SHYG, IGIB |
| Q4 2024 | 37 | $96.7M | SPYV, IGIB, SCHF, SPY, AGG |
| Q3 2024 | 36 | $96.1M | SPYV, IGIB, SCHF, SPY, AGG |