Summit Trail Advisors portfolio

What changed this quarter

1312 positions with a change (70 new, 720 added to, 489 trimmed, 33 sold); also, 3 entered through an IPO, 13 exited through an acquisition or merger, 3 entered through a spin-off. 4 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Vanguard S&P 500 ETF−10%fewer sharesReduced
  9.0% → 8.2%
• Vanguard Russell 1000 ETF+0.9 ppof portfolioNew
  — → 0.9%
• WisdomTree Floating Rate TRE ETF+14%more sharesIncreased
  7.2% → 7.2%
• iShares -3 Year Internationa ETF−73%fewer sharesReduced
  1.1% → 0.2%

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 S&P 500 ETFVOO8.2%
• WisdomTree Floating Rate TRE ETFUSFR7.2%
• AlphabetGOOGL · GOOG3.9%
• BroadcomAVGO3.6%
• AppleAAPL2.6%
• Vanguard Ftse Developed ETFVEA2.2%
• NVIDIANVDA2.1%
• Invesco Exchange Traded Fund TRSP2.1%
• Ollie's Bargain Outlet HoldingsOLLI1.6%
• AmphenolAPH1.6%
• MicrosoftMSFT1.5%
• Vanguard International Equity Index FVWO1.4%
• DLocalDLO1.3%
• Amazon.comAMZN1.1%
• Expeditors International of WashingtonEXPD0.9%
• Vanguard Russell 1000 ETFVONE0.9%
• State Str Spdr S&P 500 ETF TSPY0.9%
• iShares Russell 2000 ETFIWM0.8%
• Meta PlatformsMETA0.8%
• Invesco Exchange Traded Fund TPPA0.7%
• iShares Core U.s. Aggregate ETFAGG0.7%
• Invesco KBW Bank ETFKBWB0.6%
• Micron TechnologyMU0.6%
• Vanguard Intermediate-term T ETFVGIT0.6%
• JPMorgan ChaseJPM0.6%
• CaterpillarCAT0.5%
• TeslaTSLA0.5%
• Palantir TechnologiesPLTR0.5%
• Berkshire HathawayBRK/B0.5%
• Invesco Exchange Traded Fund TRSPT0.5%
• Vanguard Index FundsVTI0.5%
• Eli LillyLLY0.4%
• iShares Msci Eafe ETFEFA0.4%
• Advanced Micro DevicesAMD0.4%
• AonAON0.4%
• iShares Core S&P 500 ETFIVV0.4%
• SandiskSNDK0.4%
• CrowdStrike HoldingsCRWD0.3%
• Vanguard Most Sm-cap ETF-usd ETFVB0.3%
• Star GroupSGU0.3%
• Johnson & JohnsonJNJ0.3%
• OktaOKTA0.3%
• DatadogDDOG0.3%
• iShares Gold Trust ETFIAU0.3%
• Western DigitalWDC0.3%
• Kraneshares California Carbo ETFKCCA0.3%
• Arista NetworksANET0.3%
• Vanguard International Equity Index FVT0.3%
• ERIE IndemnityERIE0.3%
• Lam ResearchLRCX0.3%
• Invesco Exchange Traded Fund TRSPH0.3%
• IntelINTC0.3%
• Apollo Global ManagementAPO0.3%
• HIMS & Hers HealthHIMS0.3%
• Goldman Sachs GroupGS0.3%
• Exxon MobilXOM0.2%
• iShares -3 Year Internationa ETFISHG0.2%
• Costco WholesaleCOST0.2%
• VisaV0.2%
• Charles SchwabSCHW0.2%
• Cisco SystemsCSCO0.2%
• iShares Msci Eafe Value ETFEFV0.2%
• Applied MaterialsAMAT0.2%
• WalmartWMT0.2%
• State Street SPDR P S&P 400 Midcap ETFSPMD0.2%
• AbbVieABBV0.2%
• iShares Russell 1000 Growth ETFIWF0.2%
• iShares Core Msci Eafe ETFIEFA0.2%
• J P Morgan Exchange Traded FundBBJP0.2%
• iShares Core S&P Small-cap E ETFIJR0.2%
• Bank of AmericaBAC0.2%
• KLAKLAC0.2%
• Invesco QQQ Trust Series 1 ETFQQQ0.2%
• RTXRTX0.2%
• UnitedHealth GroupUNH0.2%
• GE AerospaceGE0.2%
• ChevronCVX0.2%
• MastercardMA0.2%
• State Street Industrial Select Sector ETFXLI0.2%
• Philip Morris InternationalPM0.2%
• Home DepotHD0.2%
• Schwab US Broad Market ETFSCHB0.2%
• CitigroupC0.2%
• GE VernovaGEV0.2%
• Vanguard Index FundsVO0.1%
• American ExpressAXP0.1%
• MerckMRK0.1%
• Lockheed MartinLMT0.1%
• Coca-ColaKO0.1%
• iShares Russell Mid-cap Grow ETFIWP0.1%
• Procter & GamblePG0.1%
• iShares Russell Mid-cap ETFIWR0.1%
• OracleORCL0.1%
• UBER TechnologiesUBER0.1%
• Booking HoldingsBKNG0.1%
• Wells FargoWFC0.1%
• CorningGLW0.1%
• iShares 0-5 Year Tips Bond E ETFSTIP0.1%
• Wise GroupWSE0.1%