RiverFront Investment Group, LLC

Name: RiverFront Investment Group, LLC 13F holdings, Q1 2025
Creator: RiverFront Investment Group, LLC
Published: 2025-05-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), RiverFront Investment Group, LLC reported 288 stock positions worth $4.5 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 6.4% of the portfolio, followed by SS SPDR P Agg Bond ETF (SPAB, 4.4%) and Goldman Activebeta US LC ETF (GSLC, 4.4%). Compared with Q4 2024, it opened 50 new positions, sold out of 15, added to 174 and reduced 33. The biggest buy was iShares 10-20 Year Treasury (TLH, shares +196%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −22%).

Most Recent 13F: Q2 2026
Location: RICHMOND, VA
CIK: 0001469751
Portfolio Value: $4.5B (Q1 2025)
SEC Filing: 0001469751-25-000006 ↗ filed May 14, 2025

Holdings Value

Holdings 288 stocks · $4.5B


IVV iShares Core S&P 500 ETF	6.42%	513,020	$288.3M	Reduce -21.6%
SPAB SS SPDR P Agg Bond ETF	4.41%	7,764,062	$198.3M	Add +4.8%
GSLC Goldman Activebeta US LC ETF	4.39%	1,790,457	$197.1M	Add +5.5%
SCHI Schwab 5-10 Year Corporate B	4.23%	8,454,119	$189.9M	Add +3.6%
BND Vanguard Total Bond Market	3.87%	2,369,347	$174.0M	Add +3.8%
TLH iShares 10-20 Year Treasury	2.92%	1,265,215	$131.3M	Add +196.2%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F	2.92%	2,530,980	$131.1M	Add +2.4%
XLK SS Technology Select Sector	2.89%	629,298	$129.9M	Add +2.8%
IYG iShares U.S. Financial Servi	2.84%	1,626,775	$127.8M	Add +4.5%
JAAA Janus Henderson Aaa Clo ETF	2.81%	2,487,861	$126.2M	Add +4.3%
VCIT Vanguard Int-Term Corporate	2.72%	1,494,159	$122.2M	Add +3.6%
IYW iShares Ustechnology ETF	2.62%	838,208	$117.7M	Add +3.1%
JEPI JPMorgan Equity Premium Inco	2.60%	2,043,968	$116.8M	Add +2.0%
AAPL Apple Inc.	2.49%	504,079	$112.0M	Add +12.3%
EFV iShares MSCI Eafe Value ETF	2.25%	1,717,047	$101.2M	Reduce -30.0%
IGLB iShares 10+ Year Inv GR Corp.	2.10%	1,877,759	$94.3M	Add +9.6%
NVDA Nvidia Corp.	1.91%	790,070	$85.6M	Add +9.3%
QQQ Invesco QQQ Trust Series 1	1.88%	180,190	$84.5M	Add +8.0%
SPYM Ste STR SPDR PT S&P 500 ETF	1.82%	1,245,532	$81.9M	Add +2.1%
XLV SS Health Care Select Sector	1.70%	522,942	$76.4M	Add +3.4%
MSFT Microsoft Corp.	1.66%	198,722	$74.6M	Add +10.0%
IEFA iShares Core MSCI Eafe ETF	1.57%	933,142	$70.6M	Reduce -48.2%
VCSH Vanguard S/T Corp. Bond ETF	1.51%	858,352	$67.8M	Add +3.5%
IJR iShares Core S&P Small-Cap E	1.37%	586,689	$61.4M	Add +9.5%
XLE SS Energy Select Sector	1.36%	652,989	$61.0M	Reduce -16.4%
VGIT Vanguard Intermediate-Term T	1.35%	1,017,616	$60.4M	Add +99.8%
XLI SS Industrial Select Sector	1.29%	441,296	$57.8M	Add +3.6%
WMT Walmart Inc.	1.20%	612,482	$53.8M	Add +6.1%
EUFN iShares MSCI Europe Financia	1.16%	1,828,039	$52.1M	Add +247.3%
XLC SS Comm Select Sector SPDR	1.14%	529,097	$51.0M	Add +2.9%
XLY SS Consumer Disc Select Sect	1.07%	242,542	$47.9M	Add +1.8%
EWG iShares MSCI Germany ETF	1.05%	1,275,731	$47.3M	New
GOOG Alphabet Inc. Class C	1.00%	288,186	$45.0M	Add +11.6%
BBCA JPMorgan Betabuilders Canada	0.96%	603,226	$43.2M	Add +9.6%
EMXC iShares MSCI Emr MRK Ex Chna	0.95%	772,553	$42.6M	Add +10.2%
JPMB JPMorgan Usd Emerging Market	0.94%	1,094,983	$42.2M	Add +5.9%
JPM JPMorgan Chase & Co.	0.90%	165,183	$40.5M	Add +7.6%
HDUS Hartford Discip Eqty ETF	0.87%	723,699	$39.2M	Add +9.1%
AMZN Amazon.com Inc.	0.87%	205,120	$39.0M	Add +9.8%
IJH iShares Core S&P Midcap ETF	0.73%	563,444	$32.9M	Add +26.5%
HIG Hartford Insurance Group Inc.	0.72%	261,987	$32.4M	Add +7.5%
JIVE JPM Interntl Value ETF filed as J P MORGAN EXCHANGE TRADED F	0.69%	503,238	$31.1M	Add +7.1%
PAVE Global X US Infrastructure	0.69%	824,590	$31.1M	Add +9.4%
IEMG iShares Core MSCI Emerging	0.66%	545,964	$29.5M	Add +8.9%
MOTI Vaneck Mstar Int Moat ETF	0.64%	857,841	$28.5M	Add +13.8%
XOM Exxon Mobil Corp.	0.51%	191,501	$22.8M	Add +29.1%
IHI iShares U.S. Medical Devices	0.50%	373,968	$22.5M	Add +9.3%
ANGL Vaneck Fallen Angel High YLD	0.48%	748,228	$21.6M	Add +2.4%
PSCI Invesco S&P Smallcap Industr	0.46%	175,413	$20.8M	Add +8.2%
IGSB iShares 1-5Y Inv Grade Corp.	0.46%	391,450	$20.5M	Add +49.5%
EOG EOG Resources Inc.	0.45%	158,069	$20.3M	Add +11.4%
XLB SS Materials Select Sector	0.45%	233,382	$20.1M	Add +2.7%
SMH Vaneck Semiconductor ETF	0.44%	93,493	$19.8M	Add +4.0%
BSCT Invesco Bulletshares 2029 CB	0.42%	1,014,722	$18.8M	Add +10.9%
BRK.B Berkshire Hathaway Inc. Class B	0.41%	34,286	$18.3M	Add +75.8%
XLP SS Consumer Staples Sel Sect	0.41%	223,435	$18.2M	Add +3.6%
FLJP Franklin Ftse Japan ETF	0.40%	614,527	$18.1M	Add +10.7%
ZROZ PIMCO 25+ YR Zero CPN US Tif	0.40%	249,294	$17.9M	Reduce -1.3%
UNH Unitedhealth Group Inc.	0.39%	33,298	$17.4M	Add +12.1%
CVX Chevron Corp.	0.37%	100,617	$16.8M	Add +13.3%
PLD Prologis Inc.	0.34%	138,185	$15.4M	Add +19.1%
RFDA Alps Dynamic US Dividend Adv	0.31%	259,309	$13.8M	Reduce -54.0%
SHYG iShares 0-5 YR HY Corp. Bond	0.28%	299,899	$12.8M	Add +7.8%
V Visa Inc. Class A	0.28%	35,636	$12.5M	Add +10.1%
VCLT Vanguard Long-Term Corp. Bond	0.21%	127,167	$9.7M	Reduce -44.3%
KO The Coca-Cola Co.	0.21%	130,498	$9.3M	Add +6.7%
PG The Procter & Gamble Co.	0.18%	46,978	$8.0M	Add +29.4%
LLY Eli Lilly & Co.	0.17%	9,391	$7.8M	Add +82.1%
AFDM FRST TRST Act Fact Em ETF-US	0.17%	112,886	$7.5M	Reduce -53.9%
WFC Wells Fargo & Co.	0.16%	102,340	$7.3M	Reduce -6.5%
JPST JPMorgan Ultra-Short Income	0.14%	120,846	$6.1M	Add +186.7%
HDEF Xtrackers MSCI Eafe High Div	0.12%	201,286	$5.5M	Reduce -3.3%
XYLD Global X S&P 500 Cove Call E	0.11%	127,817	$5.0M	Reduce -4.0%
JMUB JPMorgan Municipal ETF	0.11%	97,542	$4.9M	Add +5.3%
ISRG Intuitive Surgical Inc.	0.11%	9,552	$4.7M	New
QQQM Invesco Nasdaq 100 ETF	0.10%	23,042	$4.4M	Add +0.1%
SPHY SS SPDR P High Yield ETF	0.10%	187,104	$4.4M	New
PM Philip Morris International	0.09%	25,609	$4.1M	New
RFCI Alps Dynamic Core Income ETF	0.09%	177,447	$4.0M	Reduce -55.0%
SPLB SS SPDR P Long Term C ETF	0.08%	167,851	$3.8M	Add +693.4%
MCD McDonald's Corp.	0.08%	11,564	$3.6M	Add +212.4%
RFFC Alps Active Equity Opportuni	0.08%	60,963	$3.4M	Reduce -46.0%
GAFFX Amer FND GRW FD of Am-F3	0.08%	48,372	$3.4M	Add +27.6%
SYK Stryker Corp.	0.07%	8,966	$3.3M	Add +1.9%
EFA iShares MSCI Eafe ETF	0.07%	40,459	$3.3M	Add +483.6%
EMR Emerson Electric Co.	0.07%	29,138	$3.2M	New
TSLA Tesla Inc.	0.07%	12,081	$3.1M	Add +5.2%
IGIB iShares 5-10Y Inv Grade Corp.	0.07%	59,062	$3.1M	Add +310.4%
EDV Vanguard Extended Dur Treas	0.07%	43,155	$3.1M	Reduce -94.1%
VEA Vanguard Ftse Developed ETF	0.07%	58,937	$3.0M	Add +1.6%
GOOGL Alphabet Inc. Class A	0.06%	18,567	$2.9M	Add +108.6%
HMOP Hartford Municipal Opp ETF	0.06%	71,200	$2.7M	Add +11.9%
VFIAX Vanguard 500 Index-Adm	0.06%	4,937	$2.6M	Add +0.2%
AFEM FRST Trust Ac Fact Em ETF-US	0.06%	38,714	$2.5M	Reduce -51.6%
GPIQ GS Nasdaq-100 PR Inc. ETF-Usd	0.05%	55,181	$2.5M	Add +135.0%
CMF iShares California Muni Bond	0.05%	43,182	$2.4M	Add +92.3%
AFMFX Amer FNDS Mutual FND-F3 filed as AMERICAN FUNDS AMERICAN MUTUAL F3	0.05%	42,268	$2.4M	Add +21.1%
TMO Thermo Fisher Scientific Inc.	0.05%	4,458	$2.2M	Add +821.1%
HD Home Depot Inc.	0.05%	5,987	$2.2M	Add +59.3%
ABT Abbott Laboratories	0.05%	15,768	$2.1M	Add +31.7%
ABBV Abbvie Inc.	0.05%	9,914	$2.1M	Add +184.8%
EMB iShares JP Morgan Usd Emergi	0.05%	22,729	$2.1M	Add +349.1%
LII Lennox International Inc.	0.04%	3,543	$2.0M	Reduce -2.4%
RIGS Alps Strategic Income Fund	0.04%	85,922	$2.0M	Reduce -56.5%
SPSM SS SPDR P S&P 600 Small Cap	0.04%	47,279	$1.9M	Add +112.2%
ACWX iShares MSCI Acwi Ex US ETF	0.04%	34,124	$1.9M	Add +247.3%
IWF iShares Russell 1000 Growth	0.04%	5,210	$1.9M	Add +17.2%
KMI Kinder Morgan Inc.	0.04%	63,950	$1.8M	Add +13.9%
QYLD Global X Nasd 100 Cov Call	0.04%	108,461	$1.8M	Add +11.3%
JNJ Johnson & Johnson	0.04%	10,566	$1.8M	Add +68.3%
IVW iShares S&P 500 Growth ETF	0.04%	18,546	$1.7M	Add +0.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.04%	6,630	$1.6M	Add +92.2%
RYLD Global X Russell 2000 Cov Class	0.04%	107,634	$1.6M	Add +15.7%
XCCC Bondbloxx-CCC-Usd HY Corp. BD	0.04%	41,577	$1.6M	Add +14.5%
RETSX Russell Tax-MGD US L/C-S	0.03%	19,300	$1.6M	Add +2.8%
MA Mastercard Inc. Class A	0.03%	2,823	$1.5M	Add +1.9%
MRK Merck & Co. Inc.	0.03%	16,901	$1.5M	Add +29.1%
VOO Vanguard S&P 500 ETF	0.03%	2,795	$1.4M	Add +47.5%
CAT Caterpillar Inc.	0.03%	4,324	$1.4M	Add +47.6%
FNWFX Amer FNDS New World-F3	0.03%	17,749	$1.4M	Reduce -9.3%
META Meta Platforms Inc. Class A	0.03%	2,367	$1.4M	Add +58.1%
OEF iShares S&P 100 ETF	0.03%	4,972	$1.3M	Add +84.3%
AVGO Broadcom Inc.	0.03%	7,958	$1.3M	Add +52.6%
VTV Vanguard Mrngstr Val ETF-Aui	0.03%	7,630	$1.3M	Reduce -1.0%
MMM 3M Co.	0.03%	8,882	$1.3M	Add +2.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.03%	30,384	$1.3M	Add +11.1%
VGT Vanguard Info Tech ETF	0.03%	2,336	$1.3M	Add +8.2%
DD Dupont DE Nemours Inc.	0.03%	16,319	$1.2M	No change
VTEB Vanguard Tax-Exempt Bond ETF	0.02%	22,461	$1.1M	Reduce -2.4%
FWMIX Amer FND Wash Mut Inv-F3 filed as AMERICAN FUNDS WASHINGTON MUTUAL F3	0.02%	17,431	$1.1M	Add +15.3%
TLT iShares 20+ Year Treasury BD	0.02%	11,764	$1.1M	Add +83.4%
MO Altria Group Inc.	0.02%	17,646	$1.1M	Add +327.4%
FWGIX Af Cap WLRD GR & Inc.-F3 filed as AMERICAN FUNDS CAPITAL WORLD GR&INC F3	0.02%	16,745	$1.1M	Add +13.6%
CTVA Corteva Inc.	0.02%	16,818	$1.1M	Add +0.6%
BX Blackstone Inc.	0.02%	7,503	$1.0M	Add +15.4%
RTX RTX Corp.	0.02%	7,843	$1.0M	Add +111.5%
PCOXX Fed Herm Prime Cash Obl-WLTH	0.02%	1,035,691	$1.0M	Reduce -38.3%
IEF iShares 7-10 Year Treasury B	0.02%	10,471	$999K	Reduce -63.3%
WELL Welltower Inc.	0.02%	6,345	$972K	New
GPIX GLDM SA S&P 500 PR in ETF-US	0.02%	20,154	$939K	New
IWR iShares Russell Mid-Cap ETF	0.02%	10,848	$923K	Add +16.5%
COST Costco Wholesale Corp.	0.02%	963	$911K	Add +15.8%
DOW Dow Inc.	0.02%	26,016	$908K	No change
VO Vngrd Mrngstr MD-Cap ETF-Usd	0.02%	3,487	$902K	Add +62.3%
WHR Whirlpool Corp.	0.02%	10,000	$901K	No change
PLXS Plexus Corp.	0.02%	7,000	$897K	New
UNP Union Pacific Corp.	0.02%	3,780	$893K	Add +42.2%
FUNFX Amer FND Fndmntl Invst-F3 filed as AMERICAN FUNDS FUNDAMENTAL INVS F3	0.02%	11,446	$892K	Add +27.1%
ARLP Alliance Resource Partners	0.02%	32,000	$873K	No change
AFMBX American Balanced Fund-F3	0.02%	25,549	$872K	Add +3.0%
AGG iShares Core U.S. Aggregate	0.02%	8,706	$861K	Reduce -86.4%
FMACX Amcap Fund-F3	0.02%	21,306	$859K	Add +36.1%
HSY The Hershey Co.	0.02%	4,988	$853K	Reduce -24.2%
SPG Simon Property Group Inc.	0.02%	4,903	$814K	New
LMT Lockheed Martin Corp.	0.02%	1,812	$809K	Add +208.2%
VTSAX VNGD Mrngst TS MK Idx FD-Adm filed as VANGUARD TOTAL STOCK MKT IDX ADM	0.02%	5,968	$798K	No change
SPY SS SPDR S&P 500 ETF Trust-US	0.02%	1,386	$775K	Add +2.4%
VIG Vanguard Dividend Apprec ETF	0.02%	3,910	$759K	No change
IWD iShares Russell 1000 Value E	0.02%	3,960	$745K	Add +12.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.02%	7,514	$742K	Add +9.7%
PEP Pepsico Inc.	0.02%	4,780	$717K	Add +12.9%
BA The Boeing Co.	0.02%	4,187	$714K	Add +54.6%
EWC iShares MSCI Canada ETF	0.02%	17,473	$712K	Add +64.3%
VUG Vanguard Mrngstar GR ETF-Sui	0.02%	1,881	$698K	Add +2.2%
WLK Westlake Corp.	0.02%	6,972	$697K	No change
VZ Verizon Communications Inc.	0.02%	15,287	$693K	Add +68.3%
MEIIX MFS Value Fund-I	0.02%	13,600	$686K	Add +98.3%
VDE Vanguard Energy ETF	0.01%	5,011	$650K	Add +55.3%
KKR KKR & Co. Inc.	0.01%	5,618	$649K	New
PLTR Palantir Technologies Inc. Class A	0.01%	7,500	$633K	New
D Dominion Energy Inc.	0.01%	10,815	$606K	Add +9.4%
FEUPX Eupac Fund-F-3 filed as AMER EUROPACIFIC GRW	0.01%	10,985	$606K	Reduce -34.5%
HBAN Huntington Bancshares Inc.	0.01%	40,036	$601K	Add +170.5%
EEM iShares MSCI Emerging Market	0.01%	13,708	$599K	New
POSKX Primecap Odyssey Stock	0.01%	18,276	$599K	Add +20.3%
SBUX Starbucks Corp.	0.01%	6,047	$593K	Add +13.7%
HEDJ Wisdomtree Europe Hedged Equ	0.01%	12,180	$578K	Reduce -57.8%
CSCO Cisco Systems Inc.	0.01%	9,320	$575K	Add +40.0%
T AT&T Inc.	0.01%	20,209	$572K	New
QCOM Qualcomm Inc.	0.01%	3,651	$561K	Add +44.5%
WSBC Wesbanco Inc.	0.01%	18,000	$557K	No change
ORCL Oracle Corp.	0.01%	3,947	$552K	Add +37.5%
LDOS Leidos Holdings Inc.	0.01%	4,063	$548K	Add +0.4%
BSX Boston Scientific Corp.	0.01%	5,380	$543K	Add +50.2%
IGAIX Amer FND Intl GR & Inc.-F3 filed as AMERICAN FUNDS INTL GR AND INC F3	0.01%	14,025	$538K	Add +16.1%
FCX Freeport-McMoran Inc.	0.01%	14,071	$533K	Add +9.0%
EIX Edison International	0.01%	8,890	$524K	Add +8.4%
ADP Automatic Data Processing	0.01%	1,696	$518K	Add +4.6%
VPCCX Vanguard Primecap Core-Inv	0.01%	15,664	$516K	Add +17.4%
LOW Lowe's Cos Inc.	0.01%	2,117	$494K	No change
FFICX Amer FND Inv Co. of Am-F3 filed as AMERICAN FUNDS INVMT CO OF AMER F3	0.01%	8,804	$491K	No change
DUK Duke Energy Corp.	0.01%	3,949	$482K	Reduce -3.1%
COP Conocophillips	0.01%	4,535	$476K	Add +15.1%
WY Weyerhaeuser Co.	0.01%	16,169	$473K	No change
PRFZ Inv Rafi US 1500 SM-Usd Inc.	0.01%	12,124	$459K	Add +1.9%
ITW Illinois Tool Works	0.01%	1,846	$458K	New
JEPAX JPMorgan Eqty Prem Inc. Class A	0.01%	32,365	$457K	New
CFIHX Amer FNDS Cap Inc. BLDR-F3 filed as AMERICAN FUNDS CAPITAL INCOME BLDR F3	0.01%	6,158	$443K	Add +46.5%
NVS Novartis AG-Sponsored ADR	0.01%	3,970	$443K	New
HYGW iShares HY Corp. BD Buywr ETF	0.01%	14,031	$441K	Add +16.1%
PGR Progressive Corp.	0.01%	1,545	$437K	Add +59.1%
AXP American Express Co.	0.01%	1,612	$434K	Add +11.1%
VTTSX Vanguard TRGT RTRM 2060-Inv	0.01%	8,452	$431K	No change
EPD Enterprise Products Partners	0.01%	12,356	$422K	Add +3.7%
HL Hecla Mining Co.	0.01%	74,979	$417K	New
NEE Nextera Energy Inc.	0.01%	5,880	$417K	New
CRWD CrowdStrike Holdings Inc. Class A	0.01%	1,163	$410K	New
IWM iShares Russell 2000 ETF	0.01%	2,052	$409K	Reduce -11.3%
GE General Electric filed as GE AEROSPACE	0.01%	2,021	$405K	New
DE Deere & Co.	0.01%	853	$400K	Add +55.7%
LVS Las Vegas Sands Corp.	0.01%	10,200	$394K	Reduce -0.6%
EMM GBL X Eg MT Ex-C ETF-Usd Inc.	0.01%	15,490	$392K	Add +67.2%
COR Cencora Inc.	0.01%	1,403	$390K	New
MSA Msa Safety Inc.	0.01%	2,652	$389K	No change
PNC PNC Financial Services Group	0.01%	2,194	$386K	Add +9.7%
TRV The Travelers Cos Inc.	0.01%	1,441	$381K	Add +37.8%
CGGR Cap Group Growth Equity	0.01%	10,870	$372K	No change
FNPFX Amer FNDS New Perspect-F3 filed as AMERICAN FUNDS NEW PERSP	0.01%	6,105	$372K	Add +22.0%
AGQ Proshares Ultra Silver	0.01%	8,000	$369K	New
ETN Eaton Corp. PLC	0.01%	1,356	$369K	Reduce -7.3%
TXN Texas Instruments Inc.	0.01%	2,020	$363K	New
ANCFX Amer FND Fndmntl Invst-A filed as AMERICAN FUNDS FUNDAMENTAL INVS A	0.01%	4,593	$358K	New
PRUIX T Rowe PR Eqty Indx 500-I	0.01%	2,354	$347K	No change
HCA HCA Healthcare Inc.	0.01%	988	$341K	New
AGTHX Amer FND GRW FD of Am-A	0.01%	4,793	$334K	New
AFL Aflac Inc.	0.01%	3,000	$334K	New
VMRXX Vanguard Cash Res Fed-Adm	0.01%	325,495	$325K	Add +1163.6%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE	0.01%	9,050	$323K	No change
CL Colgate-Palmolive Co.	0.01%	3,395	$318K	New
BMY Bristol-Myers Squibb Co.	0.01%	5,203	$317K	New
VWO Vanguard Ftse Emerging Marke	0.01%	6,975	$316K	Add +21.4%
PEG Public Service Enterprise GP	0.01%	3,822	$315K	New
MGC Vngrd Mrngstr MG Cap ETF-Usd	0.01%	1,557	$314K	No change
HON Honeywell International Inc.	0.01%	1,461	$309K	Add +52.2%
MDY State Street SPDR S&P Midcap	0.01%	566	$302K	Add +18.7%
SYBT Stock Yards Bancorp Inc.	0.01%	4,355	$301K	No change
COF Capital One Financial Corp.	0.01%	1,676	$301K	New
XLU St Sr Utl SL SE SPDR ETF-Usd	0.01%	3,771	$297K	Add +2.3%
VRTX Vertex Pharmaceuticals Inc.	0.01%	612	$297K	New
SOXX iShares Semiconductor ETF	0.01%	1,567	$295K	New
VGLT Vanguard Long-Term Treasury	0.01%	5,023	$289K	Reduce -62.5%
GS Goldman Sachs Group Inc.	0.01%	529	$289K	New
STWD Starwood Property Trust Inc.	0.01%	14,392	$285K	New
SDY SS SPDR S&P Dividend ETF	0.01%	2,067	$280K	Add +2.0%
ERIE Erie Indemnity Company Class A	0.01%	668	$280K	No change
OVL Overlay Shares Large Cap Eq	0.01%	6,353	$278K	No change
SFCWX Amer FND Smallcap WRLD-F3 filed as AMERICAN FUNDS SMALLCAP	0.01%	4,302	$277K	Add +37.3%
PEIIX Principal Equity Inc. Class I	0.01%	7,009	$274K	Reduce -28.3%
TROIX T Rowe PR Overseas Stock-I	0.01%	20,204	$270K	No change
CB Chubb Ltd.	0.01%	884	$267K	New
IVE iShares S&P 500 Value ETF	0.01%	1,388	$265K	No change
MCK McKesson Corp.	0.01%	391	$263K	No change
PRUFX T Rowe PR Growth Stock-I filed as PRICE T ROWE GROWTH S	0.01%	2,626	$252K	No change
FISV Fiserv Inc.	0.01%	1,136	$251K	Add +12.1%
NFLX Netflix Inc.	0.01%	267	$249K	Add +4.7%
PFE Pfizer Inc.	0.01%	9,809	$249K	New
MUB iShares National Muni Bond E	0.01%	2,351	$248K	Reduce -10.8%
ANET Arista Networks Inc.	0.01%	3,164	$245K	New
CRM Salesforce Inc.	0.01%	910	$244K	Add +36.6%
F Ford Motor Co. filed as FORD MTR CO	0.01%	24,186	$243K	Add +9.8%
NOC Northrop Grumman Corp.	0.01%	471	$241K	Add +7.8%
WMB Williams Cos Inc.	0.01%	4,028	$241K	New
FTCS First Trust Capital Strength	0.01%	2,654	$238K	No change
AHITX Amer FNDS Hi-Inc. TRST-A filed as AMERICAN FUNDS AMERICAN HIGH-INC A	0.01%	24,395	$237K	New
EQT Eqt Corp.	0.01%	4,179	$223K	New
RTNSX Russell Tax MGD Intl Eq-S	0.00%	18,480	$221K	No change
USB US Bancorp	0.00%	5,216	$220K	New
VYM Vanguard High DVD Yield ETF	0.00%	1,700	$219K	No change
HYS PIMCO 0-5 Year H/Y Corp. Bond	0.00%	2,315	$217K	No change
GILD Gilead Sciences Inc.	0.00%	1,924	$216K	New
CI The Cigna Group	0.00%	651	$214K	New
TSM Taiwan Semiconductor-SP ADR	0.00%	1,274	$211K	Add +11.9%
FSKAX Fidelity TTL MKT Indx	0.00%	1,364	$209K	No change
STZ Constellation Brands Inc. Class A	0.00%	1,116	$205K	New
HUPHY Hutchison Port Holdings-ADR	0.00%	53,607	$180K	Add +11.0%
FDWGX Am FND Dev WLD GR & in-F3	0.00%	16,254	$180K	New
FHISX Federated Herm Sust H/Y-Is	0.00%	20,129	$136K	No change
ABTHX AB High Inc. Municipal-A	0.00%	11,839	$121K	New
BCOIX Baird Core Plus Bond-Inst	0.00%	11,569	$118K	New
KAUAX Federated Herm Kaufmann-A	0.00%	23,226	$117K	New
BGAOY Proximus-Unspon ADR	0.00%	64,573	$95K	Add +26.6%
MPT Medical Properties Trust Inc.	0.00%	13,881	$84K	Add +13.8%
SMLIX DWS MGD Muni BND-Inst	0.00%	10,005	$80K	No change
XRX Xerox Holdings Corp.	0.00%	14,055	$68K	Add +25.1%
RGLXY RTL Group SA-Unsponsored ADR	0.00%	17,208	$65K	Add +19.6%
PCFBY Pacific Basin Ship-Unsp ADR	0.00%	13,229	$59K	Add +28.5%
NHYDY Norsk Hydro As-Spons ADR	0.00%	10,044	$58K	New
NDVLY New World Develop -Spons ADR	0.00%	106,817	$34K	Add +30.5%

Other holdings (1): bonds, preferreds, convertibles and warrants · $2K (not counted above)

Security	Class	Shares / Principal	Value	Change
RLLCF Rolls-Royce Holdings -C SHR	COM	575,640	$2K	New

Total filed on the 13F, all lines: $4.5B.

Portfolio Sells Q4 2024 → Q1 2025


IVV iShares Core S&P 500 ETF	Reduce -21.6%	6.42%	−2.35
IEFA iShares Core MSCI Eafe ETF	Reduce -48.2%	1.57%	−1.31
EDV Vanguard Extended Dur Treas	Reduce -94.1%	0.07%	−1.07
EFV iShares MSCI Eafe Value ETF	Reduce -30.0%	2.25%	−0.68
RFDA Alps Dynamic US Dividend Adv	Reduce -54.0%	0.31%	−0.41
AFDM FRST TRST Act Fact Em ETF-US	Reduce -53.9%	0.17%	−0.18
VCLT Vanguard Long-Term Corp. Bond	Reduce -44.3%	0.21%	−0.17
XLE SS Energy Select Sector	Reduce -16.4%	1.36%	−0.16
AGG iShares Core U.S. Aggregate	Reduce -86.4%	0.02%	−0.12
RFCI Alps Dynamic Core Income ETF	Reduce -55.0%	0.09%	−0.11
RFFC Alps Active Equity Opportuni	Reduce -46.0%	0.08%	−0.07
RIGS Alps Strategic Income Fund	Reduce -56.5%	0.04%	−0.06
AFEM FRST Trust Ac Fact Em ETF-US	Reduce -51.6%	0.06%	−0.06
IEF iShares 7-10 Year Treasury B	Reduce -63.3%	0.02%	−0.04
TFEBX The Tax Ex BND FND Am-F3	Sold out	0.00%	−0.02
HEDJ Wisdomtree Europe Hedged Equ	Reduce -57.8%	0.01%	−0.02
PCOXX Fed Herm Prime Cash Obl-WLTH	Reduce -38.3%	0.02%	−0.02
XYLD Global X S&P 500 Cove Call E	Reduce -4.0%	0.11%	−0.01
WFC Wells Fargo & Co.	Reduce -6.5%	0.16%	−0.01
VGLT Vanguard Long-Term Treasury	Reduce -62.5%	0.01%	−0.01
SGTIX Allspring Ca Tax FR-Inst	Sold out	0.00%	−0.01
BMNIX Baird Core Int Muni Bond-Ins	Sold out	0.00%	−0.01
MTFGX Nylim Mackay STR Muni Al-I	Sold out	0.00%	−0.01
ADBE Adobe Inc.	Sold out	0.00%	−0.01
CDNS Cadence Design SYS Inc.	Sold out	0.00%	−0.01
FEUPX Eupac Fund-F-3	Reduce -34.5%	0.01%	−0.01
FIFAX Amer FNDS Inc. of Amer-F3	Sold out	0.00%	−0.01
HSY The Hershey Co.	Reduce -24.2%	0.02%	−0.01
LII Lennox International Inc.	Reduce -2.4%	0.04%	−0.01
TFC Truist Financial Corp.	Sold out	0.00%	−0.01
MGA Magna International Inc.	Sold out	0.00%	−0.01
CHDN Churchill Downs Inc.	Sold out	0.00%	−0.00
TMP Tompkins Financial Corp.	Sold out	0.00%	−0.00
PIMIX PIMCO Income Fund-Ins	Sold out	0.00%	−0.00
TSIIX Thornburg Strategic Inc. Class I	Sold out	0.00%	−0.00
NHMRX Nuveen High YLD Muni BND-I	Sold out	0.00%	−0.00
FNWFX Amer FNDS New World-F3	Reduce -9.3%	0.03%	−0.00
LVS Las Vegas Sands Corp.	Reduce -0.6%	0.01%	−0.00
ETN Eaton Corp. PLC	Reduce -7.3%	0.01%	−0.00
PEIIX Principal Equity Inc. Class I	Reduce -28.3%	0.01%	−0.00
RPIFX T Rowe PR Inst Fltng RT-Inst	Sold out	0.00%	−0.00
IWM iShares Russell 2000 ETF	Reduce -11.3%	0.01%	−0.00
VTEB Vanguard Tax-Exempt Bond ETF	Reduce -2.4%	0.02%	−0.00
MUB iShares National Muni Bond E	Reduce -10.8%	0.01%	−0.00
VTV Vanguard Mrngstr Val ETF-Aui	Reduce -1.0%	0.03%	−0.00
DUK Duke Energy Corp.	Reduce -3.1%	0.01%	+0.00
ZROZ PIMCO 25+ YR Zero CPN US Tif	Reduce -1.3%	0.40%	+0.00
HDEF Xtrackers MSCI Eafe High Div	Reduce -3.3%	0.12%	+0.01

Portfolio Buys Q4 2024 → Q1 2025


TLH iShares 10-20 Year Treasury	Add +196.2%	2.92%	+1.95
EWG iShares MSCI Germany ETF	New	1.05%	+1.05
EUFN iShares MSCI Europe Financia	Add +247.3%	1.16%	+0.88
VGIT Vanguard Intermediate-Term T	Add +99.8%	1.35%	+0.67
BRK.B Berkshire Hathaway Inc. Class B	Add +75.8%	0.41%	+0.21
SPAB SS SPDR P Agg Bond ETF	Add +4.8%	4.41%	+0.20
IGLB iShares 10+ Year Inv GR Corp.	Add +9.6%	2.10%	+0.17
IGSB iShares 1-5Y Inv Grade Corp.	Add +49.5%	0.46%	+0.15
XOM Exxon Mobil Corp.	Add +29.1%	0.51%	+0.14
BND Vanguard Total Bond Market	Add +3.8%	3.87%	+0.14
SCHI Schwab 5-10 Year Corporate B	Add +3.6%	4.23%	+0.13
MOTI Vaneck Mstar Int Moat ETF	Add +13.8%	0.64%	+0.12
XLV SS Health Care Select Sector	Add +3.4%	1.70%	+0.12
HIG Hartford Insurance Group Inc.	Add +7.5%	0.72%	+0.11
ISRG Intuitive Surgical Inc.	New	0.11%	+0.11
JIVE JPM Interntl Value ETF	Add +7.1%	0.69%	+0.10
IJH iShares Core S&P Midcap ETF	Add +26.5%	0.73%	+0.10
SPHY SS SPDR P High Yield ETF	New	0.10%	+0.10
PM Philip Morris International	New	0.09%	+0.09
IYG iShares U.S. Financial Servi	Add +4.5%	2.84%	+0.09
JPST JPMorgan Ultra-Short Income	Add +186.7%	0.14%	+0.09
VCIT Vanguard Int-Term Corporate	Add +3.6%	2.72%	+0.08
LLY Eli Lilly & Co.	Add +82.1%	0.17%	+0.08
CVX Chevron Corp.	Add +13.3%	0.37%	+0.08
BBCA JPMorgan Betabuilders Canada	Add +9.6%	0.96%	+0.08
SPLB SS SPDR P Long Term C ETF	Add +693.4%	0.08%	+0.07
EMR Emerson Electric Co.	New	0.07%	+0.07
PLD Prologis Inc.	Add +19.1%	0.34%	+0.06
JPM JPMorgan Chase & Co.	Add +7.6%	0.90%	+0.06
EMXC iShares MSCI Emr MRK Ex Chna	Add +10.2%	0.95%	+0.06
EFA iShares MSCI Eafe ETF	Add +483.6%	0.07%	+0.06
IEMG iShares Core MSCI Emerging	Add +8.9%	0.66%	+0.06
MCD McDonald's Corp.	Add +212.4%	0.08%	+0.06
EOG EOG Resources Inc.	Add +11.4%	0.45%	+0.06
JAAA Janus Henderson Aaa Clo ETF	Add +4.3%	2.81%	+0.05
IGIB iShares 5-10Y Inv Grade Corp.	Add +310.4%	0.07%	+0.05
IHI iShares U.S. Medical Devices	Add +9.3%	0.50%	+0.05
UNH Unitedhealth Group Inc.	Add +12.1%	0.39%	+0.05
V Visa Inc. Class A	Add +10.1%	0.28%	+0.05
JPMB JPMorgan Usd Emerging Market	Add +5.9%	0.94%	+0.04
TMO Thermo Fisher Scientific Inc.	Add +821.1%	0.05%	+0.04
FLJP Franklin Ftse Japan ETF	Add +10.7%	0.40%	+0.04
PG The Procter & Gamble Co.	Add +29.4%	0.18%	+0.04
BSCT Invesco Bulletshares 2029 CB	Add +10.9%	0.42%	+0.04
EMB iShares JP Morgan Usd Emergi	Add +349.1%	0.05%	+0.04
VCSH Vanguard S/T Corp. Bond ETF	Add +3.5%	1.51%	+0.04
KO The Coca-Cola Co.	Add +6.7%	0.21%	+0.03
ABBV Abbvie Inc.	Add +184.8%	0.05%	+0.03
ACWX iShares MSCI Acwi Ex US ETF	Add +247.3%	0.04%	+0.03
GPIQ GS Nasdaq-100 PR Inc. ETF-Usd	Add +135.0%	0.05%	+0.03

Notes & Other Activity Q4 2024 → Q1 2025


RLLCF Rolls-Royce Holdings -C SHR	COM	New	575,640	$2K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	427	$7.6B	IEFA, SMH, GSLC, IYW, AAPL
Q1 2026	384	$6.5B	IEFA, GSLC, JEPI, AAPL, EFV
Q4 2025	346	$6.1B	IEFA, GSLC, AAPL, JEPI, SPAB
Q3 2025	314	$5.7B	GSLC, IEFA, AAPL, SPAB, NVDA
Q2 2025	315	$5.1B	IEFA, GSLC, SPAB, SCHI, BND
Q1 2025	288	$4.5B	IVV, SPAB, GSLC, SCHI, BND
Q4 2024	253	$4.4B	IVV, GSLC, SPAB, SCHI, BND
Q3 2024	214	$4.2B	IVV, SPAB, IEFA, SCHI, GSLC
Q2 2024Amended	172	$3.7B	IVV, IEFA, SPAB, SCHI, JEPI
Q1 2024Amended	131	$3.5B	IVV, GSLC, IEFA, SPAB, SCHI