Syntax Research, Inc.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 24, 2024), Syntax Research, Inc. reported 174 stock positions worth $126.4 million. Its top holding was iShares 1-3 Year Treasury Bo (SHY) at 9.8% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 8.9%) and iShares MSCI USA Value Facto (VLUE, 5.9%). Compared with Q1 2024, it opened 7 new positions, sold out of 3, added to 35 and reduced 25. The biggest buy was iShares 1-3 Year Treasury Bo (SHY, shares +15%) and the biggest sale an exit from Archer-Daniels-Midland (ADM).

Most Recent 13F
Q2 2026
Location
BOCA RATON, FL
CIK
0001999827
Portfolio Value
$126.4M (Q2 2024)
SEC Filing
0001398344-24-012981 ↗ filed Jul 24, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $131.0M Q1 2024 Q2 2024: $126.4M $126.4M Q2 2024 Q3 2024: $147.8M Q3 2024 Q4 2024: $139.5M Q4 2024 Q1 2025: $144.8M Q1 2025 Q2 2025: $140.8M Q2 2025 Q3 2025: $155.6M Q3 2025 Q4 2025: $162.1M Q4 2025 Q1 2026: $157.1M Q1 2026 Q2 2026: $136.6M Q2 2026

Holdings 174 stocks · $126.4M
SHY iShares 1-3 Year Treasury Bo 9.78% 151,408 $12.4M Add +14.7%
IVV iShares Core S&P 500 ETF 8.90% 20,565 $11.3M Add +1.4%
VLUE iShares MSCI USA Value Facto 5.85% 71,526 $7.4M Add +9.1%
AAPL Apple Inc. 5.04% 30,244 $6.4M Add +0.1%
ACWX iShares MSCI Acwi Ex US ETF 4.58% 109,025 $5.8M Add +29.1%
IEUR iShares Core MSCI Europe ETF 4.35% 96,529 $5.5M Add +30.4%
SPY SS SPDR S&P 500 ETF Trust-US 4.28% 9,940 $5.4M Add +0.3%
IJH iShares Core S&P Midcap ETF 4.19% 90,600 $5.3M Reduce -0.8%
NOBL Proshares S&P 500 Dividend A 3.46% 45,535 $4.4M Add +2.2%
TLT iShares 20+ Year Treasury BD 3.17% 43,716 $4.0M Add +6.8%
FDX FedEx Corp. 2.93% 12,341 $3.7M Add +17.9%
PLD Prologis Inc. 2.83% 31,833 $3.6M Add +50.7%
NEM Newmont Corp. 2.76% 83,448 $3.5M Reduce -10.1%
COLD Americold Realty Trust Inc. 2.74% 135,612 $3.5M Add +35.6%
APD Air Products & Chemicals Inc. 2.69% 13,166 $3.4M Reduce -6.8%
MSFT Microsoft Corp. 2.68% 7,578 $3.4M Add +0.0%
AMT American Tower Corp. 2.57% 16,743 $3.3M Add +1.6%
CUBE Cubesmart 2.50% 70,048 $3.2M Add +9.0%
BXP BXP Inc. filed as BOSTON PROPERTIES INC 2.36% 48,378 $3.0M Add +1.8%
NTR Nutrien Ltd. 2.34% 58,199 $3.0M Reduce -6.7%
GOOG Alphabet Inc. Class C 1.57% 10,847 $2.0M Add +0.1%
JPM JPMorgan Chase & Co. 1.28% 7,979 $1.6M Reduce -2.9%
IJR iShares Core S&P Small-Cap E 0.92% 10,936 $1.2M Add +8.1%
AVGO Broadcom Inc. 0.89% 702 $1.1M Reduce -9.7%
IEF iShares 7-10 Year Treasury B 0.88% 11,853 $1.1M Add +11.2%
QUAL iShares MSCI USA Quality Fac 0.77% 5,707 $975K Add +130.4%
QCOM Qualcomm Inc. 0.68% 4,300 $857K Reduce -78.8%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.66% 7,751 $830K Reduce -9.7%
AMZN Amazon.com Inc. 0.59% 3,880 $750K No change
BA The Boeing Co. 0.57% 3,978 $724K Add +18.6%
FMC FMC Corp. 0.56% 12,335 $710K New
RTX RTX Corp. 0.47% 5,941 $596K Reduce -81.3%
CSCO Cisco Systems Inc. 0.46% 12,338 $586K Add +245.4%
GOVT iShares US Treasury Bond ETF 0.43% 24,264 $548K Reduce -21.7%
DOW Dow Inc. 0.42% 9,976 $529K Add +3.7%
QQQ Invesco QQQ Trust Series 1 0.40% 1,049 $503K Reduce -78.6%
INTC Intel Corp. 0.38% 15,701 $486K Add +1.9%
LMT Lockheed Martin Corp. 0.38% 1,041 $486K Add +0.2%
TIP iShares Tips Bond ETF 0.37% 4,426 $473K Add +1.4%
CVX Chevron Corp. 0.34% 2,781 $435K Add +2.9%
WM Waste Management Inc. 0.34% 2,005 $428K Reduce -10.7%
BRK.B Berkshire Hathaway Inc. Class B 0.33% 1,024 $417K No change
BLK BlackRock Finance Inc. 0.32% 520 $410K Add +2.4%
GOOGL Alphabet Inc. Class A 0.32% 2,221 $405K Add +0.1%
IDV iShares International Select 0.30% 13,678 $378K Reduce -24.0%
REGN Regeneron Pharmaceuticals 0.29% 345 $363K No change
COST Costco Wholesale Corp. 0.26% 392 $333K No change
V Visa Inc. Class A 0.26% 1,267 $332K Add +0.1%
LLY Eli Lilly & Co. 0.23% 323 $292K No change
HD Home Depot Inc. 0.22% 806 $277K Add +0.3%
IEMG iShares Core MSCI Emerging 0.22% 5,148 $276K Reduce -78.2%
MRK Merck & Co. Inc. 0.21% 2,175 $269K No change
PAYX Paychex Inc. 0.20% 2,138 $253K No change
XLRE SS Real Estate Select Sector 0.19% 6,263 $241K Reduce -58.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.18% 5,570 $222K Add +0.3%
TSM Taiwan Semiconductor-SP ADR 0.16% 1,199 $208K Reduce -0.1%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.15% 837 $192K No change
VIG Vanguard Dividend Apprec ETF 0.11% 744 $136K No change
META Meta Platforms Inc. Class A 0.10% 245 $124K No change
WFC Wells Fargo & Co. 0.10% 2,036 $121K No change
NFLX Netflix Inc. 0.09% 175 $118K No change
USMV iShares MSCI USA Min Vol Fac 0.09% 1,297 $109K Reduce -12.1%
ED Consolidated Edison Inc. 0.08% 1,114 $100K No change
DLR Digital Realty Trust Inc. 0.07% 608 $92K Reduce -96.7%
PECO Phillips Edison & Company Inc. 0.07% 2,527 $83K No change
CMCSA Comcast Corp. Class A 0.06% 2,076 $81K Add +0.3%
SAP Sap SE-Sponsored ADR 0.06% 370 $75K No change
TSLA Tesla Inc. 0.06% 375 $74K No change
AMGN Amgen Inc. 0.06% 237 $74K No change
GD General Dynamics Corp. 0.06% 252 $73K No change
MDT Medtronic PLC 0.06% 911 $72K Reduce -84.9%
XLF SS Financial Select Sector 0.06% 1,737 $71K No change
ETN Eaton Corp. PLC 0.06% 225 $71K No change
GMED Globus Medical Inc. Class A 0.05% 1,000 $68K No change
HPQ HP Inc. 0.05% 1,897 $66K No change
IYY iShares Dow Jones U.S. ETF 0.05% 472 $62K No change
JNJ Johnson & Johnson 0.05% 411 $60K No change
PFE Pfizer Inc. 0.05% 2,098 $59K No change
NEE Nextera Energy Inc. 0.04% 804 $57K No change
CVS CVS Health Corp. 0.04% 927 $55K No change
VZ Verizon Communications Inc. 0.04% 1,300 $54K No change
DRI Darden Restaurants Inc. 0.04% 337 $51K No change
TMO Thermo Fisher Scientific Inc. 0.04% 88 $49K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 475 $47K No change
CAT Caterpillar Inc. 0.04% 135 $45K No change
HDV iShares Core High Dividend E 0.03% 386 $42K Reduce -93.5%
PFF iShares Preferred & Income S 0.03% 1,322 $42K Reduce -9.3%
HON Honeywell International Inc. 0.03% 191 $41K No change
HPE Hewlett Packard Enterprise 0.03% 1,897 $40K No change
CWB SS SPDR BB Conv Sec ETF 0.03% 537 $39K Reduce -13.7%
IWO iShares Russell 2000 Growth 0.03% 146 $38K No change
IYF iShares US Financials ETF 0.03% 404 $38K No change
ICE Intercontinental Exchange Inc. 0.03% 264 $36K No change
SHYG iShares 0-5 YR HY Corp. Bond 0.03% 813 $34K Reduce -15.4%
UNH Unitedhealth Group Inc. 0.03% 67 $34K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.03% 655 $34K Reduce -81.7%
XIFR XPLR Infrastructure LP filed as NEXTERA ENERGY PARTNERS LP 0.03% 1,143 $32K Add +2.7%
CLX Clorox Company 0.02% 221 $30K No change
IWP iShares Russell Mid-Cap Grow 0.02% 262 $29K No change
ADBE Adobe Inc. 0.02% 52 $29K No change
VB Vanguard Most SM-Cap ETF-Usd 0.02% 129 $28K No change
EMR Emerson Electric Co. 0.02% 251 $28K No change
AFL Aflac Inc. 0.02% 300 $27K No change
KLAC KLA Corp. 0.02% 29 $24K No change
SBUX Starbucks Corp. 0.02% 300 $23K No change
PEG Public Service Enterprise GP 0.02% 315 $23K No change
UNP Union Pacific Corp. 0.02% 99 $22K No change
ALC Alcon Inc. filed as ALCON AG 0.02% 250 $22K No change
LOW Lowe's Cos Inc. 0.02% 100 $22K No change
GM General Motors Co. 0.02% 466 $22K No change
KR Kroger Co. 0.02% 433 $22K No change
IWD iShares Russell 1000 Value E 0.02% 122 $21K No change
ITA iShares U.S. Aerospace & Def 0.02% 158 $21K No change
FCX Freeport-McMoran Inc. 0.02% 414 $20K Add +0.2%
ELV Elevance Health Inc. 0.02% 36 $20K No change
NOW ServiceNow Inc. 0.02% 25 $20K No change
MDLZ Mondelez International Inc. Class A 0.01% 269 $18K No change
XOM Exxon Mobil Corp. 0.01% 152 $17K No change
CBOE Cboe Global Markets Inc. 0.01% 100 $17K No change
PEP Pepsico Inc. 0.01% 100 $16K No change
CL Colgate-Palmolive Co. 0.01% 165 $16K No change
UPS United Parcel Service Class B 0.01% 101 $14K New
CRSP Crispr Therapeutics AG 0.01% 250 $14K No change
GDX Vaneck Gold Miners ETF 0.01% 383 $13K No change
USB US Bancorp 0.01% 326 $13K No change
KO The Coca-Cola Co. 0.01% 200 $13K No change
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.01% 112 $12K No change
VTR Ventas Inc. 0.01% 230 $12K No change
SHW The Sherwin-Williams Co. 0.01% 39 $12K No change
AMAT Applied Materials Inc. 0.01% 49 $12K No change
MO Altria Group Inc. 0.01% 250 $11K No change
C Citigroup Inc. 0.01% 179 $11K No change
CSX CSX Corp. 0.01% 324 $11K No change
T AT&T Inc. 0.01% 536 $10K No change
DE Deere & Co. 0.01% 27 $10K No change
MNST Monster Beverage Corp. 0.01% 200 $10K No change
ADP Automatic Data Processing 0.01% 39 $9K No change
MGM MGM Resorts International 0.01% 190 $8K No change
MELI MercadoLibre Inc. 0.01% 5 $8K No change
DD Dupont DE Nemours Inc. 0.01% 100 $8K No change
WYNN WYNN Resorts Ltd. 0.01% 89 $8K No change
BKNG Booking Holdings Inc. 0.01% 2 $8K No change
NKE Nike Inc. Class B 0.01% 100 $8K New
CARR Carrier Global Corp. 0.01% 118 $7K No change
ITOT iShares Core S&P Total U.S. 0.01% 60 $7K No change
ZM Zoom Communications Inc. filed as ZOOM VIDEO COMMUNICATIONS IN 0.01% 119 $7K No change
FBIN Fortune Brands Innovations I 0.01% 100 $6K New
MCD McDonald's Corp. 0.01% 25 $6K No change
SHEL Shell PLC-ADR 0.00% 83 $6K No change
GH Guardant Health Inc. 0.00% 200 $6K No change
LVS Las Vegas Sands Corp. 0.00% 129 $6K No change
OTIS Otis Worldwide Corp. 0.00% 59 $6K No change
GS Goldman Sachs Group Inc. 0.00% 12 $5K No change
BX Blackstone Inc. 0.00% 43 $5K No change
CCL Carnival Corp. 0.00% 260 $5K No change
UAL United Airlines Holdings Inc. 0.00% 100 $5K No change
DAL Delta Air Lines Inc. 0.00% 100 $5K No change
CCCC C4 Therapeutics Inc. 0.00% 1,000 $5K No change
HE Hawaiian Electric Inds 0.00% 508 $5K No change
ALL Allstate Corp. 0.00% 28 $4K No change
LUV Southwest Airlines Co. 0.00% 138 $4K No change
QCLN First Trust Nasdaq Clean Edg 0.00% 100 $3K No change
DXC DXC Technology Co. 0.00% 162 $3K No change
MTCH Match Group Inc. 0.00% 100 $3K No change
PRIM Primoris Services Corp. 0.00% 50 $2K New
AIA iShares Asia 50 ETF 0.00% 35 $2K Reduce -99.5%
MSI Motorola Solutions Inc. 0.00% 6 $2K No change
AAL American Airlines Group Inc. 0.00% 200 $2K No change
GRND Grindr Inc. 0.00% 100 $1K New
TDOC Teladoc Health Inc. 0.00% 100 $978 New
QS Quantumscape Corp. 0.00% 150 $738 No change
SAVEQ Spirit Airlines Inc. 0.00% 180 $659 No change
ALIM Alimera Sciences Inc. 0.00% 80 $445 No change
LXRX Lexicon Pharmaceuticals Inc. 0.00% 142 $239 No change

Portfolio Sells Q1 2024 → Q2 2024
ADM Archer-Daniels-Midland Co. Sold out 0.00% −1.95
QCOM Qualcomm Inc. Reduce -78.8% 0.68% −1.95
DLR Digital Realty Trust Inc. Reduce -96.7% 0.07% −1.95
RTX RTX Corp. Reduce -81.3% 0.47% −1.89
QQQ Invesco QQQ Trust Series 1 Reduce -78.6% 0.40% −1.27
IEMG iShares Core MSCI Emerging Reduce -78.2% 0.22% −0.71
HDV iShares Core High Dividend E Reduce -93.5% 0.03% −0.47
MDT Medtronic PLC Reduce -84.9% 0.06% −0.34
AIA iShares Asia 50 ETF Reduce -99.5% 0.00% −0.31
XLRE SS Real Estate Select Sector Reduce -58.6% 0.19% −0.27
NTR Nutrien Ltd. Reduce -6.7% 2.34% −0.24
DVY iShares Select Dividend ETF Sold out 0.00% −0.18
IGSB iShares 1-5Y Inv Grade Corp. Reduce -81.7% 0.03% −0.11
GOVT iShares US Treasury Bond ETF Reduce -21.7% 0.43% −0.11
IDV iShares International Select Reduce -24.0% 0.30% −0.09
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -9.7% 0.66% −0.06
IJH iShares Core S&P Midcap ETF Reduce -0.8% 4.19% −0.04
WM Waste Management Inc. Reduce -10.7% 0.34% −0.03
USMV iShares MSCI USA Min Vol Fac Reduce -12.1% 0.09% −0.01
SHYG iShares 0-5 YR HY Corp. Bond Reduce -15.4% 0.03% −0.00
CWB SS SPDR BB Conv Sec ETF Reduce -13.7% 0.03% −0.00
PFF iShares Preferred & Income S Reduce -9.3% 0.03% −0.00
LDOS Leidos Holdings Inc. Sold out 0.00% −0.00
JPM JPMorgan Chase & Co. Reduce -2.9% 1.28% +0.02
TSM Taiwan Semiconductor-SP ADR Reduce -0.1% 0.16% +0.04
APD Air Products & Chemicals Inc. Reduce -6.8% 2.69% +0.07
AVGO Broadcom Inc. Reduce -9.7% 0.89% +0.11
NEM Newmont Corp. Reduce -10.1% 2.76% +0.22

Portfolio Buys Q1 2024 → Q2 2024
SHY iShares 1-3 Year Treasury Bo Add +14.7% 9.78% +1.54
ACWX iShares MSCI Acwi Ex US ETF Add +29.1% 4.58% +1.14
AAPL Apple Inc. Add +0.1% 5.04% +1.08
IEUR iShares Core MSCI Europe ETF Add +30.4% 4.35% +1.08
COLD Americold Realty Trust Inc. Add +35.6% 2.74% +0.84
IVV iShares Core S&P 500 ETF Add +1.4% 8.90% +0.76
PLD Prologis Inc. Add +50.7% 2.83% +0.73
FDX FedEx Corp. Add +17.9% 2.93% +0.61
FMC FMC Corp. New 0.56% +0.56
QUAL iShares MSCI USA Quality Fac Add +130.4% 0.77% +0.46
VLUE iShares MSCI USA Value Facto Add +9.1% 5.85% +0.43
CSCO Cisco Systems Inc. Add +245.4% 0.46% +0.33
SPY SS SPDR S&P 500 ETF Trust-US Add +0.3% 4.28% +0.32
GOOG Alphabet Inc. Class C Add +0.1% 1.57% +0.31
CUBE Cubesmart Add +9.0% 2.50% +0.28
MSFT Microsoft Corp. Add +0.0% 2.68% +0.25
TLT iShares 20+ Year Treasury BD Add +6.8% 3.17% +0.22
IEF iShares 7-10 Year Treasury B Add +11.2% 0.88% +0.11
AMT American Tower Corp. Add +1.6% 2.57% +0.09
BA The Boeing Co. Add +18.6% 0.57% +0.08
IJR iShares Core S&P Small-Cap E Add +8.1% 0.92% +0.07
GOOGL Alphabet Inc. Class A Add +0.1% 0.32% +0.06
LMT Lockheed Martin Corp. Add +0.2% 0.38% +0.02
CVX Chevron Corp. Add +2.9% 0.34% +0.02
TIP iShares Tips Bond ETF Add +1.4% 0.37% +0.02
BAC Bank of America Corp. Add +0.3% 0.18% +0.01
NOBL Proshares S&P 500 Dividend A Add +2.2% 3.46% +0.01
UPS United Parcel Service Class B New 0.01% +0.01
NKE Nike Inc. Class B New 0.01% +0.01
FBIN Fortune Brands Innovations I New 0.01% +0.01
PRIM Primoris Services Corp. New 0.00% +0.00
FCX Freeport-McMoran Inc. Add +0.2% 0.02% +0.00
GRND Grindr Inc. New 0.00% +0.00
TDOC Teladoc Health Inc. New 0.00% +0.00
BLK BlackRock Finance Inc. Add +2.4% 0.32% +0.00
XIFR XPLR Infrastructure LP Add +2.7% 0.03% −0.00
CMCSA Comcast Corp. Class A Add +0.3% 0.06% −0.00
V Visa Inc. Class A Add +0.1% 0.26% −0.01
DOW Dow Inc. Add +3.7% 0.42% −0.01
BXP BXP Inc. Add +1.8% 2.36% −0.01
HD Home Depot Inc. Add +0.3% 0.22% −0.02
INTC Intel Corp. Add +1.9% 0.38% −0.13

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 177$136.6MIVV, IEF, SHY, USMV, NOBL
Q1 2026 173$157.1MIVV, IEF, VLUE, AAPL, SHY
Q4 2025 172$162.1MIVV, IEF, VLUE, AAPL, SHY
Q3 2025 172$155.6MIVV, VLUE, IEF, AAPL, SHY
Q2 2025 170$140.8MIVV, VLUE, IEF, SHY, AAPL
Q1 2025 175$144.8MIVV, SHY, VLUE, AAPL, IEF
Q4 2024 183$139.5MIVV, VLUE, AAPL, SHY, ACWX
Q3 2024 189$147.8MIVV, VLUE, SHY, AAPL, ACWX
Q2 2024 174$126.4MSHY, IVV, VLUE, AAPL, ACWX
Q1 2024 170$131.0MSHY, IVV, VLUE, IJH, SPY