Avalon Trust portfolio

What changed this quarter

173 positions with a change (20 new, 27 added to, 104 trimmed, 22 sold); also, 2 entered through an IPO, 1 exited through an acquisition or merger, 3 entered through a spin-off. 5 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Quanta Services−66%fewer sharesReduced
  2.3% → 0.9%
• Advanced Micro Devices+2,603%more sharesIncreased
  under 0.1% → 1.0%
• National Vision Holdings+0.9 ppof portfolioNew
  — → 0.9%
• Microsoft−12%fewer sharesReduced
  6.0% → 4.8%
• Tyler Technologies+124%more sharesIncreased
  0.5% → 0.9%

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

• NVIDIANVDA8.5%
• AlphabetGOOG · GOOGL8.1%
• AppleAAPL7.3%
• BroadcomAVGO6.9%
• Amazon.comAMZN5.4%
• MicrosoftMSFT4.8%
• Bloom EnergyBE4.3%
• J P Morgan Exchange Traded FundJMTG4.2%
• VisaV3.3%
• Palo Alto NetworksPANW2.3%
• Berkshire HathawayBRK/B2.1%
• KLAKLAC1.9%
• PNC Financial Services GroupPNC1.8%
• Vaneck ETF TrustPPH1.8%
• Lowe'sLOW1.7%
• ProgressivePGR1.6%
• US Foods HoldingUSFD1.5%
• LindeLIN1.4%
• Valmont IndustriesVMI1.4%
• CMS EnergyCMS1.4%
• EquinixEQIX1.4%
• American Water WorksAWK1.2%
• StrykerSYK1.2%
• AonAON1.2%
• NetflixNFLX1.2%
• AutoZoneAZO1.1%
• Thermo Fisher ScientificTMO1.1%
• ResMedRMD1.1%
• Advanced Micro DevicesAMD1.0%
• Analog DevicesADI1.0%
• Arista NetworksANET1.0%
• DanaherDHR0.9%
• Tyler TechnologiesTYL0.9%
• TJXTJX0.9%
• Quanta ServicesPWR0.9%
• National Vision HoldingsEYE0.9%
• nVent ElectricNVT0.9%
• VeraltoVLTO0.8%
• Johnson & JohnsonJNJ0.6%
• Brookfield InfrastructureBIPC0.5%
• EntergyETR0.5%
• HA Sustainable Infrastructure CapitalHASI0.4%
• Brookfield Infrastructure PartnersBIP0.4%
• Applied MaterialsAMAT0.3%
• State Str Spdr S&P 500 ETF TSPY0.3%
• First SolarFSLR0.3%
• SPDR Gold Shares ETFGLD0.3%
• Northrop GrummanNOC0.2%
• Trane TechnologiesTT0.2%
• Vanguard Index FundsVTI0.2%
• MastercardMA0.2%
• Travelers CompaniesTRV0.2%
• Costco WholesaleCOST0.2%
• iShares Biotechnology ETFIBB0.2%
• State Street Health Care Select Sector ETFXLV0.2%
• Vanguard Total International Stock ETFVXUS0.2%
• Amalgamated FinancialAMAL0.1%
• Morgan StanleyMS0.1%
• Goldman Sachs GroupGS0.1%
• JPMorgan ChaseJPM0.1%
• MerckMRK0.1%
• iShares Core S&P 500 ETFIVV0.1%
• ULTA BeautyULTA0.1%
• Canadian National RailwayCNI0.1%
• Toronto Dominion BankTD0.1%
• iShares Core S&P Total U.s ETFITOT0.1%
• TeslaTSLA0.1%
• iShares Semiconductor ETFSOXX0.1%
• Procter & GamblePG0.1%
• OnterrisONT0.1%
• KKRKKR0.1%
• Eli LillyLLY0.1%
• OracleORCL0.1%
• AbbVieABBV0.1%
• State Street Technology Select Sector ETFXLK0.1%
• iShares Ustechnology ETFIYW0.1%
• Markel GroupMKL0.1%
• Vanguard World FundMGK0.1%
• Taiwan Semiconductor ManufacturingTSM0.1%
• Avalonbay CommunitiesAVBunder 0.1%
• WalmartWMTunder 0.1%
• BrookfieldBNunder 0.1%
• Nextera EnergyNEEunder 0.1%
• Helios TechnologiesHLIOunder 0.1%
• State Str Spdr S&P Midcap 40MDYunder 0.1%
• CF Industries HoldingsCFunder 0.1%
• Cisco SystemsCSCOunder 0.1%
• Owens CorningOCunder 0.1%
• Home DepotHDunder 0.1%
• D.R. HortonDHIunder 0.1%
• CrowdStrike HoldingsCRWDunder 0.1%
• Bank of AmericaBACunder 0.1%
• 3mMMMunder 0.1%
• Vanguard World FundMGVunder 0.1%
• iShares Msci Eafe ETFEFAunder 0.1%
• Acadia Realty TrustAKRunder 0.1%
• WatersWATunder 0.1%
• Invesco QQQ Trust Series 1 ETFQQQunder 0.1%
• United RentalsURIunder 0.1%