Sound Income Strategies portfolio

What changed this quarter

435 positions with a change (45 new, 145 added to, 194 trimmed, 51 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Fidus Investment+2,909%more sharesIncreased
  0.1% → 1.9%
• Virtus Seix Senior Loan ETF+1.2 ppof portfolioNew
  — → 1.2%
• Simon Property Group−94%fewer sharesReduced
  1.3% → 0.1%
• CareTrust REIT−97%fewer sharesReduced
  1.1% → under 0.1%
• Blackstone Secured Lending Fund−48%fewer sharesReduced
  1.9% → 1.0%
• SLR Investment+7,441%more sharesIncreased
  under 0.1% → 0.8%
• Getty Realty+0.8 ppof portfolioNew
  — → 0.8%
• iShares Msci USA Quality GAR ETF+0.8 ppof portfolioNew
  — → 0.8%
• iShares US Smallcap Equity F ETF+0.7 ppof portfolioNew
  — → 0.7%
• Pennantpark Floating Rate Capital−44%fewer sharesReduced
  1.8% → 0.9%
• Invesco S&P Midcap 400 REV ETF+0.7 ppof portfolioNew
  — → 0.7%
• Bondbloxx ETF Trust−98%fewer sharesReduced
  0.7% → under 0.1%

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

• Hercules CapitalHTGC2.8%
• Ares CapitalARCC2.7%
• Blue OWL CapitalOBDC2.5%
• Sixth Street Specialty LendingTSLX2.0%
• Fidus InvestmentFDUS1.9%
• Golub Capital BDCGBDC1.9%
• AppleAAPL1.5%
• iShares 0-5 Yr HY Corp Bond ETFSHYG1.4%
• Vaneck ETF TrustHYEM1.3%
• Tidal Trust IFXED1.3%
• VICI PropertiesVICI1.3%
• Omnicom GroupOMC1.2%
• Virtus Seix Senior Loan ETFSEIX1.2%
• AbbVieABBV1.2%
• IsharesEMHY1.2%
• GreifGEF/B1.2%
• Cisco SystemsCSCO1.2%
• TotalEnergiesTTE1.1%
• Principal Financial GroupPFG1.1%
• AccentureACN1.1%
• PerrigoPRGO1.0%
• Blackstone Secured Lending FundBXSL1.0%
• PfizerPFE1.0%
• NVIDIANVDA1.0%
• Tidal Trust IDIVY1.0%
• Alpine Income Property TrustPINE0.9%
• Capital SouthwestCSWC0.9%
• AmcorAMCR0.9%
• NNN ReitNNN0.9%
• Realty IncomeO0.9%
• Sabra Health Care ReitSBRA0.9%
• American TowerAMT0.9%
• Invesco Global EX US High YI ETFPGHY0.9%
• Pennantpark Floating Rate CapitalPFLT0.9%
• MicrosoftMSFT0.9%
• Trinity CapitalTRIN0.9%
• Citizens Financial GroupCFG0.9%
• M&t BankMTB0.9%
• J P Morgan Exchange Traded FundJPMB0.9%
• Corebridge FinancialCRBG0.9%
• EnbridgeENB0.8%
• Gaming and Leisure PropertiesGLPI0.8%
• At&tT0.8%
• Global X Nasd 100 COV Call ETFQYLD0.8%
• SLR InvestmentSLRC0.8%
• iShares Core S&P 500 ETFIVV0.8%
• Getty RealtyGTY0.8%
• CitigroupC0.8%
• WisdomTree US Quality Growth ETFQGRW0.8%
• Eversource EnergyES0.8%
• iShares Msci USA Quality GAR ETFGARP0.8%
• AlphabetGOOGL0.7%
• Amazon.comAMZN0.7%
• Valero EnergyVLO0.7%
• GSKGSK0.7%
• International Business MachinesIBM0.7%
• Franklin ResourcesBEN0.7%
• Invesco Exchange Traded Fund TXSMO0.7%
• iShares US Smallcap Equity F ETFSMLF0.7%
• Sonoco ProductsSON0.7%
• Invesco Exchange Traded Fund TXMMO0.7%
• United Parcel ServiceUPS0.7%
• Invesco S&P Midcap 400 REV ETFRWK0.7%
• J M SmuckerSJM0.7%
• Oneok0.6%
• HF SinclairDINO0.6%
• Meta PlatformsMETA0.6%
• HasbroHAS0.6%
• Provident Financial ServicesPFS0.6%
• Kraft HeinzKHC0.5%
• H&r BlockHRB0.5%
• Scotts Miracle-GroSMG0.5%
• ViatrisVTRS0.5%
• Stanley Black & DeckerSWK0.5%
• AvistaAVA0.5%
• TeslaTSLA0.5%
• LTC PropertiesLTC0.5%
• PepsicoPEP0.5%
• Omega Healthcare InvestorsOHI0.5%
• National Health InvestorsNHI0.5%
• Invesco QQQ Trust Series 1 ETFQQQ0.4%
• Vanguard S&P 500 ETFVOO0.4%
• Series Portfolios TrCLOZ0.4%
• State Street SPDR P High Yield ETFSPHY0.4%
• CloroxCLX0.4%
• DBX ETF TrHYUP0.4%
• GenpactG0.4%
• Nomad FoodsNOMD0.3%
• ADTADT0.3%
• Conagra BrandsCAG0.3%
• Neos ETF TrustIYRI0.3%
• Brink’sBCO0.3%
• Cognizant Technology SolutionsCTSH0.3%
• Tyson FoodsTSN0.3%
• Fidelity National FinancialFNF0.3%
• Vanguard World FundMGK0.3%
• Global PaymentsGPN0.3%
• Match GroupMTCH0.3%
• iShares Interest Rate Hedged ETFIGBH0.3%
• iShares Int Rate Hedg HY ETFHYGH0.3%