Level Four Advisory Services portfolio

What changed this quarter

784 positions with a change (95 new, 382 added to, 278 trimmed, 29 sold); also, 2 entered through an IPO, 2 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

• AppleAAPL4.0%
• Alps ETF TrLGRO3.0%
• Invesco QQQ Trust Series 1 ETFQQQ2.9%
• AlphabetGOOGL · GOOG2.0%
• MicrosoftMSFT1.9%
• NVIDIANVDA1.8%
• Amazon.comAMZN1.7%
• Micron TechnologyMU1.6%
• Vanguard S&P 500 ETFVOO1.4%
• STE Str SPDR PT S&P 500 ETFSPYM1.3%
• T Rowe Price Exchange-tradedTCAF1.3%
• BroadcomAVGO1.3%
• J P Morgan Exchange Traded FundJIRE1.1%
• AbbVieABBV1.0%
• WisdomTree Floating Rate TRE ETFUSFR0.9%
• Alps Smth COR BD Plus ETFSMTH0.9%
• JPMorgan ChaseJPM0.9%
• Vaneck ETF TrustMOAT0.8%
• Advanced Micro DevicesAMD0.8%
• Vaneck ETF TrustSMH0.8%
• Meta PlatformsMETA0.7%
• SandiskSNDK0.7%
• KLAKLAC0.7%
• Invesco Nasdaq 100 ETFQQQM0.6%
• iShares Core U.s. Aggregate ETFAGG0.6%
• Pacer Trendpilot US Large CA ETFPTLC0.6%
• UnitedHealth GroupUNH0.6%
• WalmartWMT0.6%
• First Trust Rising Dividend ETFRDVY0.5%
• CitigroupC0.5%
• Morgan StanleyMS0.5%
• Vanguard Index FundsVTI0.5%
• CaterpillarCAT0.5%
• Invesco S&P 500 Momentum ETFSPMO0.5%
• Johnson & JohnsonJNJ0.5%
• State Street Technology Select Sector ETFXLK0.5%
• ETF SER SolutionsDSTL0.5%
• Goldman Sachs Access Treasur ETFGBIL0.5%
• Texas InstrumentsTXN0.5%
• State Str Spdr S&P 500 ETF TSPY0.5%
• Microchip TechnologyMCHP0.4%
• Nextera EnergyNEE0.4%
• Berkshire HathawayBRK/B0.4%
• CumminsCMI0.4%
• iShares S&P 500 Growth ETFIVW0.4%
• SPDR Gold Shares ETFGLD0.4%
• Goldman Sachs GroupGS0.4%
• VisaV0.4%
• iShares Core S&P Midcap ETFIJH0.4%
• State Street SPDR P Int Term TSY ETFSPTI0.4%
• State Street SPDR PF LNG TRM TSY E-usd ETFSPTL0.4%
• Pacer US Cash Cows 100 ETFCOWZ0.4%
• Pgim AAA CLO ETFPAAA0.4%
• Conagra BrandsCAG0.4%
• SnowflakeSNOW0.4%
• Home DepotHD0.4%
• TwilioTWLO0.4%
• Costco WholesaleCOST0.3%
• UBER TechnologiesUBER0.3%
• iShares Msci Eafe ETFEFA0.3%
• Schwab US DVD Equity ETFSCHD0.3%
• Cisco SystemsCSCO0.3%
• Applied MaterialsAMAT0.3%
• Lam ResearchLRCX0.3%
• ConocoPhillipsCOP0.3%
• TeslaTSLA0.3%
• Vanguard Dividend Apprec ETFVIG0.3%
• State Street Industrial Select Sector ETFXLI0.3%
• Lockheed MartinLMT0.3%
• TJXTJX0.3%
• Coca-ColaKO0.3%
• SouthernSO0.3%
• Invesco Exchange Traded Fund TRSP0.3%
• Pacer Trendpilot 100 ETFPTNQ0.3%
• Fidelity Enhanced Mid Cap ETFFMDE0.3%
• QualcommQCOM0.3%
• First Citizens BancsharesFCNCA0.3%
• ChevronCVX0.3%
• Vanguard High DVD Yield ETFVYM0.3%
• IsharesEMXC0.3%
• APAAPA0.3%
• T. Rowe PriceTROW0.3%
• Novo Nordisk A/sNVO0.3%
• Vanguard Mrngstar GR ETF-sui ETFVUG0.3%
• MerckMRK0.3%
• Monolithic Power SystemsMPWR0.3%
• ETF SER SolutionsACIO0.3%
• Palo Alto NetworksPANW0.3%
• Vanguard Index FundsVO0.3%
• EatonETN0.3%
• Bank of AmericaBAC0.3%
• International Business MachinesIBM0.3%
• AmphenolAPH0.3%
• American Centy ETF TrAVUV0.3%
• Taiwan Semiconductor ManufacturingTSM0.3%
• RHRH0.3%
• Eli LillyLLY0.3%
• Lamb Weston HoldingsLW0.2%
• McDONALD’SMCD0.2%