Naples Global Advisors portfolio

What changed this quarter

298 positions with a change (29 new, 188 added to, 76 trimmed, 5 sold); also, 1 exited through an acquisition or merger, 2 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

• AppleAAPL3.3%
• CorningGLW3.1%
• Taiwan Semiconductor ManufacturingTSM2.8%
• BroadcomAVGO2.5%
• Micron TechnologyMU2.2%
• iShares Core S&P 500 ETFIVV2.0%
• Schwab International Equity ETFSCHF1.9%
• MicrosoftMSFT1.9%
• Lam ResearchLRCX1.8%
• Vanguard S&P 500 ETFVOO1.7%
• AlphabetGOOGL · GOOG1.7%
• Applied MaterialsAMAT1.5%
• Advanced Micro DevicesAMD1.4%
• Vanguard Index FundsVV1.3%
• KLAKLAC1.2%
• Schwab Emrg Mrkts Eqty ETFSCHE1.1%
• NVIDIANVDA1.0%
• JPMorgan ChaseJPM1.0%
• Cisco SystemsCSCO1.0%
• Analog DevicesADI1.0%
• Eli LillyLLY0.9%
• Exxon MobilXOM0.9%
• iShares Russell 1000 Value E ETFIWD0.9%
• iShares Core S&P Midcap ETFIJH0.9%
• Pimco Enhanced Short Maturit ETFMINT0.9%
• MerckMRK0.9%
• Vanguard Info Tech ETFVGT0.8%
• Home DepotHD0.8%
• Johnson & JohnsonJNJ0.8%
• iShares Global Infrastructur ETFIGF0.8%
• AmgenAMGN0.8%
• iShares 5-10y INV Grade ETFIGIB0.8%
• AbbVieABBV0.7%
• Global X US Preferred ETFPFFD0.7%
• iShares Global Reit ETFREET0.7%
• STE Str SPDR PT S&P 500 ETFSPYM0.7%
• iShares Core S&P Small-cap E ETFIJR0.6%
• Seagate Technology HoldingsSTX0.6%
• Packaging Corp of AmericaPKG0.6%
• RIO TintoRIO0.6%
• iShares Core S&P Total U.s ETFITOT0.6%
• CaterpillarCAT0.6%
• Nextera EnergyNEE0.6%
• Texas InstrumentsTXN0.6%
• State Str Spdr S&P 500 ETF TSPY0.6%
• Vanguard Intermediate-term B ETFBIV0.6%
• Vanguard Ftse Developed ETFVEA0.6%
• American ExpressAXP0.5%
• Canadian Imperial Bank of CommerceCM0.5%
• BlackRockBLK0.5%
• Amazon.comAMZN0.5%
• ASML HoldingASML0.5%
• Procter & GamblePG0.5%
• Meta PlatformsMETA0.5%
• iShares National Muni Bond E ETFMUB0.5%
• OracleORCL0.5%
• Digital Realty TrustDLR0.5%
• BlackstoneBX0.5%
• Charles SchwabSCHW0.5%
• WalmartWMT0.5%
• PaychexPAYX0.5%
• SouthernSO0.5%
• CortevaCTVA0.5%
• Lockheed MartinLMT0.5%
• RTXRTX0.5%
• BWX TechnologiesBWXT0.5%
• WatscoWSO0.4%
• Leidos HoldingsLDOS0.4%
• iShares Core U.s. Aggregate ETFAGG0.4%
• Vanguard Index FundsVTI0.4%
• QualcommQCOM0.4%
• SAPSAP0.4%
• Microchip TechnologyMCHP0.4%
• Vanguard International Equity Index FVWO0.4%
• Silicon Motion TechnologySIMO0.3%
• Air Products and ChemicalsAPD0.3%
• Emerson ElectricEMR0.3%
• UnitedHealth GroupUNH0.3%
• iShares 1-5y INV Grade ETFIGSB0.3%
• Bristol-myers SquibbBMY0.3%
• ChevronCVX0.3%
• McDONALD’SMCD0.3%
• MedtronicMDT0.3%
• IsharesEMXC0.3%
• International Business MachinesIBM0.3%
• Waste ManagementWM0.3%
• CSXCSX0.3%
• AstrazenecaAZN0.3%
• Berkshire HathawayBRK/B0.3%
• LindeLIN0.3%
• Schwab US Broad Market ETFSCHB0.3%
• Schwab US Large-cap ETFSCHX0.3%
• United Parcel ServiceUPS0.3%
• Invesco QQQ Trust Series 1 ETFQQQ0.3%
• StarbucksSBUX0.3%
• Coca-ColaKO0.3%
• NovartisNVS0.3%
• PepsicoPEP0.3%
• Jackson FinancialJXN0.3%