AMG National Trust Bank portfolio

What changed this quarter

420 positions with a change (29 new, 83 added to, 242 trimmed, 66 sold); also, 2 entered through an IPO, 2 entered through a spin-off. 2 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• State Str Spdr S&P 500 ETF T−9.8%fewer sharesReduced
  9.0% → 8.8%
• iShares Core S&P 500 ETF−22%fewer sharesReduced
  2.3% → 2.0%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• State Str Spdr S&P 500 ETF TSPY8.8%
• iShares Russell Mid-cap ETFIWR8.8%
• iShares Russell 2000 ETFIWM5.1%
• Vanguard S&P 500 ETFVOO4.9%
• iShares Core International Stock ETFIXUS3.5%
• Elevation Series TrustCVGD2.5%
• Vanguard Total Bond Market ETFBND2.3%
• Vanguard Index FundsVTI2.2%
• AppleAAPL2.0%
• iShares Russell 1000 ETFIWB2.0%
• iShares Core S&P 500 ETFIVV2.0%
• Lowe'sLOW2.0%
• Elevation Series TrustCVSM1.9%
• iShares Core Msci Eafe ETFIEFA1.9%
• Vanguard Total International Stock ETFVXUS1.8%
• BALLBALL1.6%
• Vanguard Russell 2000 ETFVTWO1.6%
• iShares Msci Eafe ETFEFA1.5%
• iShares Convertible Bond ETFICVT1.4%
• Vanguard Index FundsVO1.4%
• Invesco QQQ Trust Series 1 ETFQQQ1.3%
• iShares Russell 1000 Growth ETFIWF1.3%
• State Street SPDR S&P Global ETFGNR1.1%
• iShares Msci Acwi EX US ETFACWX1.1%
• iShares Russell 2000 Value E ETFIWN1.1%
• iShares Russell Mid-cap Valu ETFIWS1.0%
• Vanguard Most Sm-cap ETF-usd ETFVB1.0%
• iShares Select Dividend ETFDVY1.0%
• iShares Russell Mid-cap Grow ETFIWP1.0%
• AlphabetGOOG · GOOGL1.0%
• Vanguard Dividend Apprec ETFVIG0.9%
• Home DepotHD0.7%
• Berkshire HathawayBRK/A · BRK/B0.7%
• SPDR Gold Shares ETFGLD0.7%
• Amazon.comAMZN0.6%
• PNC Financial Services GroupPNC0.6%
• Vanguard Russell 1000 Growth ETFVONG0.6%
• iShares Russell 1000 Value E ETFIWD0.6%
• MicrosoftMSFT0.6%
• iShares Select U.s. Reit ETFICF0.5%
• State Str Spdr DOW Jones INDDIA0.5%
• State Street Technology Select Sector ETFXLK0.5%
• JPMorgan ChaseJPM0.4%
• NVIDIANVDA0.4%
• iShares Gold Trust ETFIAU0.4%
• Abrdn Silver ETF TrustSIVR0.4%
• iShares Russell 2000 Growth ETFIWO0.4%
• iShares Silver Trust ETFSLV0.4%
• Johnson & JohnsonJNJ0.4%
• IsharesIEMG0.3%
• V. F.VFC0.3%
• Vanguard Russell 2000 Growth ETFVTWG0.3%
• iShares Core S&P Midcap ETFIJH0.3%
• Vanguard International Equity Index FVEU0.3%
• State Street SPDR BB Conv Sec ETFCWB0.3%
• iShares National Muni Bond E ETFMUB0.3%
• RTXRTX0.3%
• Eli LillyLLY0.3%
• Taiwan Semiconductor ManufacturingTSM0.3%
• Molson Coors BeverageTAP0.3%
• Vanguard High DVD Yield ETFVYM0.3%
• Vanguard Short-term Tips ETFVTIP0.2%
• Vanguard ESG US Stock ETFESGV0.2%
• Vanguard Russell 2000 Value ETFVTWV0.2%
• Vanguard Total International Bond ETFBNDX0.2%
• Coca-ColaKO0.2%
• iShares 0-1 Year Treasury BO ETFSHV0.2%
• Vanguard Long-term Corp Bond ETFVCLT0.2%
• CorningGLW0.2%
• Graphic Packaging HoldingGPK0.2%
• Kontoor BrandsKTB0.2%
• iShares Preferred & Income S ETFPFF0.2%
• IsharesEZU0.2%
• TJXTJX0.2%
• American ExpressAXP0.2%
• Hormel FoodsHRL0.2%
• State Street Financial Select Sector ETFXLF0.2%
• Principal Financial GroupPFG0.2%
• WalmartWMT0.2%
• BroadcomAVGO0.2%
• EcolabECL0.2%
• Procter & GamblePG0.1%
• Meta PlatformsMETA0.1%
• Vanguard Russell 1000 Value ETFVONV0.1%
• ChevronCVX0.1%
• CaterpillarCAT0.1%
• Edwards LifesciencesEW0.1%
• Cisco SystemsCSCO0.1%
• MSCIMSCI0.1%
• Texas InstrumentsTXN0.1%
• iShares 7-10 Year Treasury B ETFIEF0.1%
• iShares Intermediate Governm ETFGVI0.1%
• iShares 3-7 Year Treasury BO ETFIEI0.1%
• UnitedHealth GroupUNH0.1%
• US Bancorp \de\USB0.1%
• iShares Msci Emerging Market ETFEEM0.1%
• Schwab U.s. Tips ETFSCHP0.1%
• SPDR Gold Minishares Trust ETFGLDM0.1%