Capstone Financial Advisors portfolio

What changed this quarter

134 positions with a change (19 new, 61 added to, 41 trimmed, 13 sold); also, 1 entered through an IPO, 1 exited through an acquisition or merger.

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

• Vanguard Index FundsVTI17.8%
• iShares Russell 1000 ETFIWB12.7%
• Dimensional ETF TrustDFAC12.0%
• Flexshares TrNFRA7.3%
• Vanguard Total Bond Market ETFBND6.6%
• Vanguard Total International Stock ETFVXUS4.8%
• iShares Core International Stock ETFIXUS4.2%
• Dimensional ETF TrustDFAX3.7%
• iShares Russell 1000 Growth ETFIWF2.8%
• Vanguard Total International Bond ETFBNDX2.7%
• McDONALD’SMCD2.5%
• Flexshares TrTLTD2.2%
• Flexshares TrTILT2.1%
• AppleAAPL2.0%
• iShares Core S&P Total U.s ETFITOT1.8%
• iShares Global Reit ETFREET1.1%
• JPMorgan ChaseJPM1.0%
• NVIDIANVDA1.0%
• American Centy ETF TrAVRE0.7%
• State Str Spdr S&P Midcap 40MDY0.5%
• iShares Russell 2000 ETFIWM0.5%
• Vanguard Dividend Apprec ETFVIG0.4%
• Amazon.comAMZN0.4%
• iShares Core U.s. Aggregate ETFAGG0.4%
• Vanguard Russell 1000 ETFVONE0.4%
• iShares Global Infrastructur ETFIGF0.4%
• Berkshire HathawayBRK/A · BRK/B0.3%
• Vanguard Tax-exempt Bond ETFVTEB0.3%
• iShares International Aggregate Bond ETFIAGG0.3%
• MicrosoftMSFT0.3%
• Vanguard Russell 2000 ETFVTWO0.3%
• AlphabetGOOGL · GOOG0.2%
• CME GroupCME0.2%
• Micron TechnologyMU0.2%
• Costco WholesaleCOST0.2%
• Dimensional ETF TrustDFAU0.2%
• QualcommQCOM0.2%
• State Street SPDR DOW Jones ETFRWO0.2%
• State Str Spdr S&P 500 ETF TSPY0.1%
• StarbucksSBUX0.1%
• CaterpillarCAT0.1%
• Cboe Global MarketsCBOE0.1%
• Dimensional ETF TrustDFAI0.1%
• TRI ContlTY0.1%
• Invesco QQQ Trust Series 1 ETFQQQ0.1%
• Lam ResearchLRCX0.1%
• EatonETN0.1%
• Advanced Micro DevicesAMD0.1%
• Applied MaterialsAMAT0.1%
• WalmartWMT0.1%
• Meta PlatformsMETA0.1%
• IntelINTC0.1%
• Exxon MobilXOM0.1%
• iShares National Muni Bond E ETFMUB0.1%
• Alaska Air GroupALK0.1%
• Coca-ColaKO0.1%
• International Business MachinesIBM0.1%
• UnileverUL0.1%
• Lumen TechnologiesLUMN0.1%
• Johnson & JohnsonJNJ0.1%
• CrowdStrike HoldingsCRWD0.1%
• J P Morgan Exchange Traded FundJMST0.1%
• Dimensional ETF TrustDFIC0.1%
• Cigna GroupCI0.1%
• Adams Diversified Equity FundADX0.1%
• J P Morgan Exchange Traded FundJEPQ0.1%
• MerckMRK0.1%
• Darden RestaurantsDRI0.1%
• Vanguard S&P 500 ETFVOOunder 0.1%
• iShares Russell 3000 ETFIWVunder 0.1%
• iShares Core S&P 500 ETFIVVunder 0.1%
• AbbVieABBVunder 0.1%
• Fifth Third BancorpFITBunder 0.1%
• Dell TechnologiesDELLunder 0.1%
• Eli LillyLLYunder 0.1%
• W.W. GraingerGWWunder 0.1%
• GE VernovaGEVunder 0.1%
• J P Morgan Exchange Traded FundJEPIunder 0.1%
• Home DepotHDunder 0.1%
• Lamb Weston HoldingsLWunder 0.1%
• GE AerospaceGEunder 0.1%
• TeslaTSLAunder 0.1%
• KLAKLACunder 0.1%
• General MillsGISunder 0.1%
• Vanguard ESG US Stock ETFESGVunder 0.1%
• Schwab US Broad Market ETFSCHBunder 0.1%
• BroadcomAVGOunder 0.1%
• ChevronCVXunder 0.1%
• Bristol-myers SquibbBMYunder 0.1%
• Palantir TechnologiesPLTRunder 0.1%
• Intercontinental ExchangeICEunder 0.1%
• SPDR Gold Shares ETFGLDunder 0.1%
• American ExpressAXPunder 0.1%
• Cisco SystemsCSCOunder 0.1%
• Byline BancorpBYunder 0.1%
• Vanguard Info Tech ETFVGTunder 0.1%
• WisdomTree Yield Enhanced US ETFAGGYunder 0.1%
• Taiwan Semiconductor ManufacturingTSMunder 0.1%