Advisory Alpha portfolio

What changed this quarter

502 positions with a change (55 new, 256 added to, 161 trimmed, 30 sold); also, 1 entered through an IPO, 2 exited through an acquisition or merger, 1 entered through a spin-off.

No moves of 0.5 points of the portfolio or more.

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 Street SPDR P S&P 500 Growth ETFSPYG8.4%
• State Street SPDR P S&P 500 Value ETFSPYV7.4%
• Schwab US Mid Cap ETFSCHM6.3%
• State Street Technology Select Sector ETFXLK5.9%
• STE Str SPDR PT DW EU ETFSPDW4.9%
• State Street SPDR P St C Corp ETFSPSB3.9%
• Schwab US Small-cap ETFSCHA3.4%
• State Street SPDR P High Yield ETFSPHY2.7%
• State Street Financial Select Sector ETFXLF2.6%
• Ssga Active ETF TrSRLN2.2%
• Vanguard Int-term Corporate ETFVCIT2.1%
• Vanguard Short-term Treasury ETFVGSH1.8%
• Spdr Index SHS FundsSPEM1.7%
• State Street Health Care Select Sector ETFXLV1.5%
• State Street Industrial Select Sector ETFXLI1.4%
• State Street SPDR P Mort Back Bond ETFSPMB1.2%
• Select Sector Spdr TrXLP1.2%
• iShares Convertible Bond ETFICVT1.2%
• State Street Consumer Disc Select Sect ETFXLY1.2%
• Dimensional ETF TrustDFAU1.2%
• Vanguard International Equity Index FVSS1.1%
• AppleAAPL1.0%
• Schwab U.s. Tips ETFSCHP1.0%
• State Street Real Estate Select Sector ETFXLRE1.0%
• Vanguard Long-term Corp Bond ETFVCLT1.0%
• First Tr Exch Traded Fund IIIFPE1.0%
• NVIDIANVDA1.0%
• Schwab Intermediate-term US ETFSCHR0.9%
• State Street Comm Select Sector SPDR ETFXLC0.9%
• Vanguard Dividend Apprec ETFVIG0.8%
• Global X MLP & Energy Infras ETFMLPX0.7%
• State Street SPDR PF LNG TRM TSY E-usd ETFSPTL0.7%
• Vanguard Emerg Mkts GOV BND ETFVWOB0.7%
• AlphabetGOOGL · GOOG0.7%
• Dimensional ETF TrustDFAI0.7%
• Dimensional ETF TrustDFAS0.6%
• State Street SPDR BB IG Float RT ETFFLRN0.6%
• State Street SPDR P AGG Bond ETFSPAB0.6%
• MicrosoftMSFT0.5%
• Vanguard Index FundsVOE0.5%
• State Street Materials Select Sector ETFXLB0.5%
• Schwab US DVD Equity ETFSCHD0.5%
• STE Str SPDR PT S&P 500 ETFSPYM0.5%
• Amazon.comAMZN0.4%
• Vanguard Index FundsVOT0.4%
• Dimensional ETF TrustDFIS0.4%
• Dimensional ETF TrustDFLV0.4%
• Pacer US Cash Cows 100 ETFCOWZ0.4%
• State Street Energy Select Sector ETFXLE0.4%
• Dimensional ETF TrustDFAE0.4%
• St SR UTL SL SE SPDR ETF-usd ETFXLU0.4%
• Innovator U.s. Equity Power ETFPJUN0.3%
• TeslaTSLA0.3%
• State Street SPDR BB St HI Yield ETFSJNK0.3%
• State Str Spdr S&P 500 ETF TSPY0.3%
• Vanguard Index FundsVBR0.3%
• Invesco Bulletshares 2026 HY ETFBSJQ0.3%
• Dimensional ETF TrustDFIV0.3%
• iShares Core S&P Midcap ETFIJH0.3%
• Invesco Bulletshares 2027 HY ETFBSJR0.3%
• Vanguard Index FundsVBK0.2%
• Meta PlatformsMETA0.2%
• Dimensional ETF Trust0.2%
• Dimensional ETF TrustDISV0.2%
• Eli LillyLLY0.2%
• Berkshire HathawayBRK/B0.2%
• Applied MaterialsAMAT0.2%
• CaterpillarCAT0.2%
• Procter & GamblePG0.2%
• Vanguard Index FundsVTI0.2%
• Vanguard Mrngstar GR ETF-sui ETFVUG0.2%
• Invesco Bulletshares 2028 HY ETFBSJS0.2%
• J P Morgan Exchange Traded FundJPST0.2%
• JPMorgan ChaseJPM0.2%
• WalmartWMT0.2%
• Vanguard Short-term Tips ETFVTIP0.1%
• Innovator U.s. Equity Power ETFPMAY0.1%
• Johnson & JohnsonJNJ0.1%
• Exxon MobilXOM0.1%
• Innovator U.s. Equity Power ETFPFEB0.1%
• Invesco Bulletshares 2029 HY ETFBSJT0.1%
• iShares Gold Trust ETFIAU0.1%
• Innovator U.s. Equity Power ETFPMAR0.1%
• First Trust Morn DVD Lead In ETFFDL0.1%
• Vanguard S&P 500 ETFVOO0.1%
• GE AerospaceGE0.1%
• NetflixNFLX0.1%
• Invesco Bulletshares 2030 HY ETFBSJU0.1%
• Nextera EnergyNEE0.1%
• Advanced Micro DevicesAMD0.1%
• AIM ETF Products TrustAUGW0.1%
• J P Morgan Exchange Traded FundJEPI0.1%
• Invesco Global EX US High YI ETFPGHY0.1%
• First Trust Value Line DVD ETFFVD0.1%
• KLAKLAC0.1%
• Innovator U.s. Equity Power ETFPJUL0.1%
• iShares Core S&P 500 ETFIVV0.1%
• Vanguard Mrngstr Val ETF-aui ETFVTV0.1%
• Palo Alto NetworksPANW0.1%