Gladstone Institutional Advisory portfolio

What changed this quarter

745 positions with a change (99 new, 377 added to, 233 trimmed, 36 sold); also, 2 entered through an IPO, 3 exited through an acquisition or merger, 1 entered through a spin-off. 1 is listed here: those of 0.5 points of the portfolio or more (up to 12).

• First Tr Exchng Traded Fund VI+34%more sharesIncreased
  2.0% → 2.4%

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

• NVIDIANVDA2.7%
• iShares Core S&P 500 ETFIVV2.6%
• AppleAAPL2.6%
• First Tr Exchng Traded Fund VIBUFR2.4%
• Vanguard S&P 500 ETFVOO2.1%
• State Str Spdr S&P 500 ETF TSPY1.7%
• AlphabetGOOGL · GOOG1.7%
• STE Str SPDR PT S&P 500 ETFSPYM1.7%
• State Street SPDR P Int Term TSY ETFSPTI1.6%
• Amazon.comAMZN1.5%
• iShares S&P 500 Growth ETFIVW1.4%
• State Street SPDR P S&P 500 Growth ETFSPYG1.3%
• First Trust Rising Dividend ETFRDVY1.3%
• MicrosoftMSFT1.2%
• State Street SPDR P S&P 500 Value ETFSPYV1.1%
• iShares Core S&P Midcap ETFIJH1.1%
• iShares Core S&P Small-cap E ETFIJR1.0%
• PureCycle TechnologiesPCT0.9%
• Invesco Actively Managed EXCGSY0.9%
• Invesco Nasdaq 100 ETFQQQM0.9%
• Goldman Activebeta US LC ETFGSLC0.8%
• WisdomTree Floating Rate TRE ETFUSFR0.8%
• Invesco QQQ Trust Series 1 ETFQQQ0.8%
• JPMorgan ChaseJPM0.8%
• Eli LillyLLY0.7%
• Vanguard Dividend Apprec ETFVIG0.7%
• Columbia Resear ENH COR ETFRECS0.7%
• Schwab US Large-cap ETFSCHX0.7%
• State Street SPDR P S&P 400 Midcap ETFSPMD0.7%
• iShares Core Msci Eafe ETFIEFA0.7%
• BroadcomAVGO0.7%
• Invesco Russell 1000 DYN M/f ETFOMFL0.7%
• State Street SPDR P Int C Corp ETFSPIB0.7%
• T1 EnergyTE0.6%
• State Street SPDR P Mort Back Bond ETFSPMB0.6%
• TeslaTSLA0.6%
• Meta PlatformsMETA0.6%
• iShares Msci USA Quality FAC ETFQUAL0.6%
• Invesco Exchange Traded Fund TRSP0.6%
• Berkshire HathawayBRK/B0.6%
• Vanguard Mrngstr Val ETF-aui ETFVTV0.5%
• Invesco Exchange Traded Fund TXLG0.5%
• Vanguard Mrngstar GR ETF-sui ETFVUG0.5%
• State Street Technology Select Sector ETFXLK0.5%
• SPDR Gold Shares ETFGLD0.5%
• Exxon MobilXOM0.5%
• Advanced Micro DevicesAMD0.5%
• Vanguard Index FundsVTI0.5%
• Micron TechnologyMU0.5%
• State Street SPDR BB 1-3m T-bill ETFBIL0.4%
• Cisco SystemsCSCO0.4%
• iShares S&P 500 Value ETFIVE0.4%
• Johnson & JohnsonJNJ0.4%
• CrowdStrike HoldingsCRWD0.4%
• State Street Industrial Select Sector ETFXLI0.4%
• iShares Core Dividend Growth ETFDGRO0.4%
• Fidelity Total Bond ETFFBND0.4%
• Simplify Health Care ETFPINK0.4%
• State Street SPDR P S&P 600 Small Cap ETFSPSM0.4%
• Goldman Sachs Activebeta Int ETFGSIE0.4%
• WalmartWMT0.4%
• MerckMRK0.3%
• iShares Russell 2000 ETFIWM0.3%
• Vanguard Info Tech ETFVGT0.3%
• CSXCSX0.3%
• Schwab US Large-cap Value ETFSCHV0.3%
• Vanguard Index FundsVO0.3%
• IntelINTC0.3%
• State Str Spdr DOW Jones INDDIA0.3%
• New York Life Investments ETHFXI0.3%
• State Street SPDR Euro Stoxx ETFFEZ0.3%
• ChevronCVX0.3%
• Goldman Sachs GroupGS0.3%
• First Tr Exch Traded Fund IIIFPE0.3%
• AbbVieABBV0.3%
• Pimco Enhanced Short Maturit ETFMINT0.3%
• WisdomTree Japan Hedged Eq ETFDXJ0.3%
• iShares Morningstar U.s. EQU ETFILCB0.3%
• CaterpillarCAT0.3%
• iShares Msci USA Min Vol FAC ETFUSMV0.3%
• Costco WholesaleCOST0.3%
• IsharesEMXC0.3%
• Harbor ETF TrustOSEA0.3%
• iShares Russell 1000 Value E ETFIWD0.2%
• First Tr Exchng Traded Fund VIBUFQ0.2%
• VisaV0.2%
• International Business MachinesIBM0.2%
• State Street Financial Select Sector ETFXLF0.2%
• IsharesIEMG0.2%
• Valero EnergyVLO0.2%
• State Street Health Care Select Sector ETFXLV0.2%
• First Tr Exchange Trad Fund VIFTGC0.2%
• iShares Russell 1000 Growth ETFIWF0.2%
• J P Morgan Exchange Traded FundJEPQ0.2%
• Capital Group Dividend ValueCGDV0.2%
• BlackRock ETF TrustDYNF0.2%
• American ExpressAXP0.2%
• Pacer MET US LRG Cap DVD 400 ETFQDPL0.2%
• Procter & GamblePG0.2%