APF

Alaska Permanent Fund Portfolio holdings

AUM $7.12B

AUM

$7.12B

AUM Growth

+$380M (+6%)

Cap. Flow

+$313M

Cap. Flow % of AUM

4.4%

Top 10 Holdings %Top 10 Hldgs %

55.56%

Holding

477

New

Increased

Reduced

Closed

Top Buys

1	Vanguard S&P 500 ETF VOO	$466M
2	iShares Core MSCI EAFE ETF IEFA	$397M
3	Invesco QQQ Trust QQQ	$377M
4	iShares Russell 2000 ETF IWM	$173M
5	iShares Russell 2000 Value ETF IWN	$169M

Top Sells

1	iShares Core S&P 500 ETF IVV	$598M
2	iShares MSCI USA Min Vol Factor ETF USMV	$165M
3	VanEck Junior Gold Miners ETF GDXJ	$156M
4	Invesco S&P 500 Low Volatility ETF SPLV	$139M
5	iShares Gold Trust Micro IAUM	$99M

Sector Composition

1	Financials	6.14%
2	Technology	3.09%
3	Healthcare	2.9%
4	Consumer Staples	2.07%
5	Industrials	2.05%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 Vanguard S&P 500 ETF VOO $689B	$738M	10.37%	1,448,563 +913,528	+171%	+$466M
2	2 iShares Core MSCI EAFE ETF IEFA $142B	$597M	8.39%	7,583,471 +5,040,373	+198%	+$397M
3	3 iShares Core S&P 500 ETF IVV $630B	$516M	7.24%	924,000 -1,071,000	-54%	-$598M
4	4 Invesco QQQ Trust QQQ $355B	$380M	5.34%	799,266 +793,884	+14,751%	+$377M
5	5 iShares Russell 2000 Value ETF IWN $11.5B	$348M	4.89%	2,402,269 +1,169,735	+95%	+$169M
6	6 iShares Russell 1000 Value ETF IWD $62.8B	$342M	4.8%	1,875,445 -481,743	-20%	-$87.8M
7	7 SPDR Russell 1000 Low Volatility ETF ONEV $592M	$278M	3.91%	2,238,048	–	–
8	8 iShares MSCI USA Min Vol Factor ETF USMV $23.6B	$270M	3.8%	2,918,749 -1,784,013	-38%	-$165M
9	9 SPDR Russell 1000 Yield Focus ETF ONEY $868M	$252M	3.54%	2,420,919	–	–
10	10 iShares Russell 2000 ETF IWM $66.1B	$233M	3.28%	1,197,502 +887,984	+287%	+$173M
11	11 Vanguard FTSE Emerging Markets ETF VWO $91.8B	$232M	3.25%	5,118,100 +1,961,935	+62%	+$88.8M
12	12 Dimensional US Small Cap Value ETF DFSV $4.91B	$202M	2.84%	7,620,911	–	–
13	13 Invesco S&P 500 Low Volatility ETF SPLV $7.65B	$194M	2.73%	2,664,644 -1,901,730	-42%	-$139M
14	14 VanEck Junior Gold Miners ETF GDXJ $5.59B	$168M	2.37%	2,742,791 -2,542,838	-48%	-$156M
15	15 Dimensional US Small Cap ETF DFAS $10.5B	$146M	2.05%	2,518,859	–	–
16	16 iShares Gold Trust Micro IAUM $3.19B	$116M	1.63%	3,528,000 -3,012,000	-46%	-$99M
17	17 KraneShares CSI China Internet ETF KWEB $6.33B	$102M	1.43%	3,181,007 -1,005,174	-24%	-$32.3M
18	18 Xtrackers Harvest CSI 300 China A-Shares ETF ASHR $1.94B	$80.8M	1.14%	3,129,569 +939,537	+43%	+$24.3M
19	19 SPDR Russell 1000 Momentum Focus ETF ONEO $93.2M	$64.3M	0.9%	565,285	–	–
20	20 Health Care Select Sector SPDR Fund XLV $34.1B	$51.1M	0.72%	363,906 -106,000	-23%	-$14.9M
21	21 iShares Broad USD High Yield Corporate Bond ETF USHY $23.8B	$48M	0.67%	1,311,619 -300,000	-19%	-$11M
22	22 Berkshire Hathaway Class B BRK.B $1.03T	$38.4M	0.54%	72,068	–	–
23	23 AT&T T $194B	$30.4M	0.43%	1,096,437	–	–
24	24 VanEck Gold Miners ETF GDX $15.5B	$29.5M	0.41%	601,411 -1,613,326	-73%	-$79.1M
25	25 iShares BB Rated Corporate Bond ETF HYBB $212M	$25.3M	0.36%	550,000	–	–