Sierra Capital portfolio

What changed this quarter

115 positions with a change (18 new, 39 added to, 44 trimmed, 14 sold); also, 8 entered through an IPO. 5 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• iShares MSCI World UCITS ETF (Dist)+873%more sharesIncreased
  0.2% → 1.8%
• iShares MSCI World UCITS ETF−1.4 ppof portfolioSold out
  1.6% → —
• Ishares S&P 500 Ucits ETF DI+214%more sharesIncreased
  0.4% → 1.4%
• iShares Core S&P 500 UCITS ETF USD (Dist)−0.9 ppof portfolioSold out
  1.0% → —
• iShares Short Duration Corp Bond UCITS ETF (Acc)+19%more sharesIncreased
  3.6% → 3.9%

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 ETFVOO6.7%
• iShares Short Duration Corp Bond UCITS ETF (Acc)ISVQF3.9%
• BlackRockCSTNL · ISJPF · ISVFF3.8%
• iShares Core MSCI EMU UCITS ETF (Acc)XMTIF3.7%
• iShares MSCI EM ex-China UCITS ETF (Acc)IXSRF3.6%
• iShares S&P 500 Equal Weight UCITS ETF (Acc)IEQWF3.3%
• Berkshire HathawayBRK/B · BRK/A3.3%
• AppleAAPL3.0%
• iShares S&P 500 Swap UCITS ETF (Acc)IFHDF3.0%
• iShares MSCI USA Small Cap CTB Enhanced ESG UCITS ETF (Acc)CPLCF2.9%
• AlphabetGOOGL · GOOG2.1%
• iShares US Mortgage Backed Securities UCITS ETF (Acc)IMBXF2.0%
• iShares MSCI Japan UCITS ETF (Acc)IMSCF2.0%
• Ish Usd Float Bond Usd Acc Held BY EuroclearIVSRF1.8%
• iShares MSCI World UCITS ETF (Dist)IIREF1.8%
• Vanguard Index FundsVO1.8%
• Amazon.comAMZN1.5%
• iShares Treasury Bond 0-1yr UCITS ETF (Acc)ISHUF1.5%
• iShares Core S&P 500 ETFIVV1.5%
• Ishares S&P 500 Ucits ETF DIIHPCF1.4%
• iShares MSCI ACWI UCITS ETF (Acc)ISVVF1.4%
• iShares Short Duration High Yield Corp Bond UCITS ETF (Acc)ISDDF1.4%
• Vanguard International Equity Index FVGK1.4%
• iShares S&P 500 Value ETFIVE1.0%
• Vanguard International Equity Index FVWO1.0%
• Bank of AmericaBAC1.0%
• iShares Russell 2000 ETFIWM0.9%
• iShares Global Govt Bond UCITS ETF (Acc)IIXFF0.9%
• iShares Treasury Bond 1-3yr UCITS ETF (Acc)ISTXF0.9%
• iShares Russell 1000 Value E ETFIWD0.9%
• Invesco Preferred Shares UCITS ETF (Acc)IMPPF0.9%
• iShares Core MSCI EMU UCITS ETF (Acc)0.9%
• SPDR S&P 400 US Mid Cap UCITS ETF (Acc)SSDRF0.8%
• Goldman Sachs EQL Wght Large ETFGSEW0.8%
• iShares 0-5 Yr INV GRD ETFSLQD0.8%
• iShares Floating Rate Bond E ETFFLOT0.8%
• iShares Corp Bond UCITS ETF (Acc)ISCXF0.8%
• State Street Financial Select Sector ETFXLF0.7%
• IsharesEMXC0.7%
• Invesco USD AAA CLO UCITS ETF (Acc)ICLUF0.7%
• iShares MSCI EM UCITS ETF USD (Acc)IZIZF0.7%
• J P Morgan Exchange Traded FundJMST0.7%
• Ishares US AGG BND USD ACCISHVF0.7%
• Vanguard Info Tech ETFVGT0.6%
• MicrosoftMSFT0.6%
• State Str Spdr S&P 500 ETF TSPY0.6%
• Meta PlatformsMETA0.6%
• iShares Short Duration Corp Bond UCITS ETF (Dist)ISHFF0.6%
• NVIDIANVDA0.5%
• Ishares Nasdaq 100 USD ACCISVAF0.5%
• iShares Core MSCI Europe UCITS ETF (Dist)IMSEF0.5%
• iShares S&P 500 Growth ETFIVW0.5%
• IsharesEWJ0.5%
• iShares Russell 1000 Growth ETFIWF0.5%
• iShares US Property Yield UCITS ETF (Dist)ISUPF0.4%
• Vanguard Industrials ETFVIS0.4%
• Invesco USD AT1 CoCo Bond UCITS ETF (Acc)IVATF0.4%
• iShares Russell 2000 Value E ETFIWN0.4%
• iShares Core Msci Eafe ETFIEFA0.4%
• Ishares USD HY Corp USD ACCISHYF0.4%
• Ishares Core Msci World UcitsIRRRF0.3%
• iShares Msci Acwi EX US ETFACWX0.3%
• Vanguard Admiral FundsVIOO0.3%
• State Street Health Care Select Sector ETFXLV0.3%
• iShares J.P. Morgan EM Local Govt Bond UCITS ETF (Dist)IISHF0.3%
• Vanguard International Equity Index FVPL0.3%
• iShares S&P 500 Consumer Staples Sector UCITS ETF (Acc)IMSBF0.3%
• iShares Preferred & Income S ETFPFF0.3%
• iShares MBS ETFMBB0.3%
• BroadcomAVGO0.3%
• iShares Core U.s. Aggregate ETFAGG0.3%
• iShares Russell Mid-cap Grow ETFIWP0.3%
• Vanguard Admiral FundsVOOG0.3%
• Goldman Activebeta US LC ETFGSLC0.2%
• iShares S&P Mid-cap 400 Valu ETFIJJ0.2%
• iShares Treasury Bond 7-10yr UCITS ETF USD (Acc)ISVIF0.2%
• Janus Henderson AAA CLO ETFJAAA0.2%
• Invesco QQQ Trust Series 1 ETFQQQ0.2%
• Vanguard Materials ETFVAW0.2%
• IsharesURTH0.2%
• Vanguard Most Sm-cap ETF-usd ETFVB0.2%
• Taiwan Semiconductor ManufacturingTSM0.2%
• TeslaTSLA0.2%
• Johnson & JohnsonJNJ0.2%
• iShares S&P SmallCap 600 UCITS ETFISHOF0.2%
• Alps ETF TrAMLP0.2%
• Ishares TrHYG0.2%
• BlackstoneBX0.2%
• iShares Global Govt Bond UCITS ETF (Dist)ISSPF0.2%
• iShares Msci Acwi ETFACWI0.2%
• iShares S&P 500 Utilities Sector UCITS ETF (Acc)ISSZF0.2%
• iShares 0-5 Yr HY Corp Bond ETFSHYG0.2%
• Vanguard Admiral FundsVOOV0.2%
• Vanguard Real Estate ETFVNQ0.2%
• Apollo Global ManagementAPO0.2%
• Vanguard Index FundsVOT0.2%