Novem Group portfolio

What changed this quarter

359 positions with a change (21 new, 191 added to, 117 trimmed, 30 sold); also, 1 entered through an IPO. 3 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Pimco Enhanced Short Maturit ETF+115%more sharesIncreased
  1.8% → 3.8%
• Pimco Multisector Bond Actv ETF−51%fewer sharesReduced
  4.2% → 2.0%
• iShares Ibonds DEC 2029 M BD ETF+0.8 ppof portfolioNew
  — → 0.8%

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

• Schwab US Large-cap Growth ETFSCHG4.2%
• Pimco Enhanced Short Maturit ETFMINT3.8%
• STE Str SPDR PT S&P 500 ETFSPYM3.0%
• Fidelity Fndmntl L/c COR ETFFFLC2.7%
• Pimco Active Bond Exchange-t ETFBOND2.3%
• Schwab Short-term US Treas ETFSCHO2.1%
• AppleAAPL2.1%
• Vanguard Mrngstar GR ETF-sui ETFVUG2.0%
• Pimco Multisector Bond Actv ETFPYLD2.0%
• iShares Fallen Angels ETFFALN1.9%
• State Street SPDR P S&P 500 Value ETFSPYV1.8%
• Vanguard Mrngstr Val ETF-aui ETFVTV1.8%
• iShares Core S&P 500 ETFIVV1.7%
• Pimco INV Grade Corp BD ETFCORP1.5%
• Vanguard High DVD Yield ETFVYM1.5%
• Vanguard Dividend Apprec ETFVIG1.4%
• Ishares TrIBDS1.3%
• iShares Ibonds DEC 2028 ETFIBDT1.2%
• iShares S&P 500 Growth ETFIVW1.1%
• BlackRock ETF TrustDYNF1.1%
• Capital Group Dividend ValueCGDV1.1%
• Pgim Total Return Bond ETFPTRB1.0%
• Capital Group GBL Growth EQTCGGO0.9%
• BroadcomAVGO0.9%
• RBB Fund TrustFEGE0.8%
• iShares Ibonds DEC 2029 M BD ETFIBMR0.8%
• Schwab Fndmntl US LRG Co ETFFNDX0.8%
• MerckMRK0.8%
• MicrosoftMSFT0.8%
• NVIDIANVDA0.8%
• Fidelity Fndm SM Mid Cap ETFFFSM0.8%
• JPMorgan ChaseJPM0.7%
• ConocoPhillipsCOP0.7%
• WalmartWMT0.7%
• STE Str SPDR PT DW EU ETFSPDW0.7%
• iShares Russell 2000 ETFIWM0.6%
• iShares S&P Mid-cap 400 Valu ETFIJJ0.6%
• J P Morgan Exchange Traded FundJPEF0.6%
• Invesco Nasdaq 100 ETFQQQM0.6%
• Johnson & JohnsonJNJ0.6%
• First Tr Exchng Traded Fund VIDLFE0.6%
• Vanguard Ftse Developed ETFVEA0.6%
• Global X Art Intel & Tech ETFAIQ0.6%
• AlphabetGOOGL · GOOG0.5%
• iShares US Treasury Bond ETFGOVT0.5%
• ETF SER SolutionsQTUM0.5%
• PrologisPLD0.5%
• AllstateALL0.5%
• iShares Core S&P Midcap ETFIJH0.5%
• State Street SPDR Msci Acwi ETFCWI0.5%
• Berkshire HathawayBRK/B0.5%
• Johnson Controls InternationalJCI0.5%
• First Tr Exchng Traded Fund VIFDEC0.5%
• Emerson ElectricEMR0.5%
• AstrazenecaAZN0.4%
• QualcommQCOM0.4%
• Vanguard Int-term Corporate ETFVCIT0.4%
• BlackRock ETF TrustBAI0.4%
• PNC Financial Services GroupPNC0.4%
• Bristol-myers SquibbBMY0.4%
• State Street SPDR S&P Dividend ETFSDY0.4%
• iShares US Smallcap Equity F ETFSMLF0.4%
• First Tr Exchng Traded Fund VIBUFR0.4%
• State Str Spdr S&P 500 ETF TSPY0.4%
• iShares 1-5y INV Grade ETFIGSB0.4%
• First Tr Exchange Traded FundTDIV0.4%
• PepsicoPEP0.4%
• NXP SemiconductorsNXPI0.4%
• Schwab Fndmn International LRG Co ETFFNDF0.4%
• Vanguard Index FundsVTI0.4%
• Capital GRP Fixed Incm ETF TCGMU0.4%
• WisdomTree Floating Rate TRE ETFUSFR0.4%
• Bunge GlobalBG0.4%
• Vanguard S&P 500 ETFVOO0.4%
• J P Morgan Exchange Traded FundJPST0.3%
• Amazon.comAMZN0.3%
• Meta PlatformsMETA0.3%
• VisaV0.3%
• Spdr Index SHS FundsSPEM0.3%
• Vanguard Real Estate ETFVNQ0.3%
• Fidelity Small-mid Multifact ETFFSMD0.3%
• iShares Core S&P Small-cap E ETFIJR0.3%
• J P Morgan Exchange Traded FundJQUA0.3%
• Exxon MobilXOM0.3%
• BlackRock ETF TrustBLCR0.3%
• Invesco Nasdaq Next Gen 100 ETFQQQJ0.3%
• BlackRock ETF Trust IIINMU0.3%
• Applied MaterialsAMAT0.3%
• International Business MachinesIBM0.3%
• Taiwan Semiconductor ManufacturingTSM0.3%
• GE AerospaceGE0.3%
• MastercardMA0.2%
• Invesco QQQ Trust Series 1 ETFQQQ0.2%
• Cisco SystemsCSCO0.2%
• BlackRock ETF TrustCORO0.2%
• FortinetFTNT0.2%
• iShares Gold Trust ETFIAU0.2%
• KLAKLAC0.2%
• AmphenolAPH0.2%