Norden Group portfolio

What changed this quarter

639 positions with a change (56 new, 190 added to, 307 trimmed, 86 sold); also, 2 entered through an IPO. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Pgim AAA CLO ETF+89%more sharesIncreased
  4.6% → 8.0%
• Fortinet+1,252%more sharesIncreased
  0.1% → 1.1%
• Exelixis+1.0 ppof portfolioNew
  — → 1.0%
• Lamar Advertising−1.0 ppof portfolioSold out
  1.1% → —
• Kroger+2,505%more sharesIncreased
  under 0.1% → 1.0%
• Janus Henderson AAA CLO ETF+502%more sharesIncreased
  0.2% → 1.1%
• Bristol-myers Squibb−87%fewer sharesReduced
  1.1% → 0.1%
• United Parcel Service+906%more sharesIncreased
  0.1% → 0.9%
• TechnipFMC−92%fewer sharesReduced
  0.9% → 0.1%
• Vodafone Group Public−0.7 ppof portfolioSold out
  0.8% → —
• WisdomTree Floating Rate TRE ETF+0.6 ppof portfolioNew
  — → 0.6%
• Invesco QQQ Trust Series 1 ETF−59%fewer sharesReduced
  1.0% → 0.4%

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

• Pgim AAA CLO ETFPAAA8.0%
• AppleAAPL5.3%
• NVIDIANVDA5.0%
• MicrosoftMSFT3.0%
• AlphabetGOOGL · GOOG2.9%
• Amazon.comAMZN1.9%
• iShares Core S&P 500 ETFIVV1.8%
• BroadcomAVGO1.4%
• ShopifySHOP1.3%
• Micron TechnologyMU1.2%
• Arista NetworksANET1.2%
• State Street SPDR BB 1-3m T-bill ETFBIL1.2%
• Janus Henderson AAA CLO ETFJAAA1.1%
• FortinetFTNT1.1%
• Altria GroupMO1.1%
• Advanced Micro DevicesAMD1.0%
• ExelixisEXEL1.0%
• Meta PlatformsMETA1.0%
• KrogerKR1.0%
• United Parcel ServiceUPS0.9%
• State Str Spdr S&P 500 ETF TSPY0.9%
• Expedia GroupEXPE0.9%
• JPMorgan ChaseJPM0.7%
• TeslaTSLA0.7%
• WisdomTree Floating Rate TRE ETFUSFR0.6%
• Philip Morris InternationalPM0.6%
• Berkshire HathawayBRK/B0.6%
• Eli LillyLLY0.6%
• Johnson & JohnsonJNJ0.6%
• IntelINTC0.6%
• Vaneck ETF TrustSMH0.6%
• Cisco SystemsCSCO0.6%
• Applied MaterialsAMAT0.6%
• Vaneck ETF TrustRAAX0.5%
• Exxon MobilXOM0.5%
• Lam ResearchLRCX0.5%
• VanEck EM Bond ETFEMBX0.5%
• iShares Micro-cap ETFIWC0.5%
• CloudflareNET0.5%
• VisaV0.5%
• MerckMRK0.5%
• Alps ETF TrAMLP0.5%
• iShares S&P Small-cap 600 GR ETFIJT0.5%
• iShares US Real Estate ETFIYR0.5%
• Ishares U S ETF TrMEAR0.4%
• Wells FargoWFC0.4%
• MastercardMA0.4%
• Invesco QQQ Trust Series 1 ETFQQQ0.4%
• GE AerospaceGE0.4%
• State Street SPDR P S&P 500 Growth ETFSPYG0.4%
• Coca-ColaKO0.4%
• Bank of AmericaBAC0.4%
• ChevronCVX0.4%
• RTXRTX0.4%
• Verizon CommunicationsVZ0.4%
• Texas InstrumentsTXN0.3%
• Palantir TechnologiesPLTR0.3%
• AbbVieABBV0.3%
• NetflixNFLX0.3%
• Gilead SciencesGILD0.3%
• GE VernovaGEV0.3%
• CaterpillarCAT0.3%
• AmgenAMGN0.3%
• iShares Russell 3000 ETFIWV0.3%
• Marvell TechnologyMRVL0.3%
• CrowdStrike HoldingsCRWD0.3%
• Costco WholesaleCOST0.3%
• Procter & GamblePG0.3%
• Palo Alto NetworksPANW0.3%
• STE Str SPDR PT DW EU ETFSPDW0.3%
• ASML HoldingASML0.2%
• VanEck Onchain Economy ETFNODE0.2%
• KLAKLAC0.2%
• Neos ETF TrustQQQI0.2%
• Ishares TrHYG0.2%
• State Street SPDR P S&P 500 Value ETFSPYV0.2%
• SandiskSNDK0.2%
• STE Str SPDR PT S&P 500 ETFSPYM0.2%
• CorningGLW0.2%
• Waystar HoldingWAY0.2%
• Charles SchwabSCHW0.2%
• PepsicoPEP0.2%
• WalmartWMT0.2%
• ConocoPhillipsCOP0.2%
• Mondelez InternationalMDLZ0.2%
• Union PacificUNP0.2%
• QualcommQCOM0.2%
• MedtronicMDT0.2%
• Morgan StanleyMS0.2%
• Walt DisneyDIS0.2%
• OracleORCL0.2%
• iShares Core High Dividend E ETFHDV0.2%
• Taiwan Semiconductor ManufacturingTSM0.2%
• AmphenolAPH0.2%
• StarbucksSBUX0.2%
• At&tT0.2%
• iShares US Treasury Bond ETFGOVT0.2%
• Simon Property GroupSPG0.2%
• Becton, DickinsonBDX0.2%