CFMC

Curbstone Financial Management Corp Portfolio holdings

AUM $487M

1-Year Return 13.71%

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1

This Quarter Return

+1.35%

1 Year Return

+13.71%

3 Year Return

+48.52%

5 Year Return

+72.88%

10 Year Return

+151.47%

AUM

$148M

AUM Growth

+$18.6M (+14%)

Cap. Flow

+$17.7M

Cap. Flow % of AUM

11.9%

Top 10 Holdings % Top 10 Hldgs %

34.42%

Holding

169

New

Increased

Reduced

Closed

Top Buys

1	Vanguard Short-Term Corporate Bond ETF VCSH	$2.79M
2	Vanguard Intermediate-Term Corporate Bond ETF VCIT	$2.76M
3	iShares Short-Term National Muni Bond ETF SUB	$1.4M
4	iShares National Muni Bond ETF MUB	$1.29M
5	iShares 1-5 Year Investment Grade Corporate Bond ETF IGSB	$984K

Top Sells

1	SPDR S&P MidCap 400 ETF Trust MDY	$2M
2	WisdomTree Emerging Markets High Dividend Fund DEM	$320K
3	PETM PETSMART INC PETM	$282K
4	Emerson Electric EMR	$235K
5	MWIV MWI VETERINARY SUPPLY, INC. MWIV	$229K

Sector Composition

1	Technology	8.19%
2	Industrials	6.66%
3	Healthcare	6.61%
4	Financials	5.96%
5	Energy	5.21%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
151	MPV 151 Barings Participation Investors MPV $208M	$212K	0.14%	17,450	–	–
152	152 Danaher DHR $143B	$211K	0.14%	3,705	–	–
153	153 Stryker SYK $151B	$211K	0.14%	2,290 -25	-1%	-$2.3K
154	154 Amgen AMGN $151B	$208K	0.14%	1,300	–	–
155	155 Becton Dickinson BDX $54.8B	$207K	0.14%	1,478 -436	-23%	-$61.1K
156	156 iShares 1-3 Year Treasury Bond ETF SHY $24.5B	$205K	0.14%	2,418	–	–
157	IBMG 157 DELISTED iShares iBonds Sep 2018 Term Muni Bond ETF IBMG	$204K	0.14%	+8,000	New	+$204K
158	158 GSK GSK $79.8B	$201K	0.14%	+3,480	New	+$201K
159	NORW 159 DELISTED Global X MSCI Norway ETF NORW	$174K	0.12%	14,950 -2,225	-13%	-$25.9K
160	PAL 160 DELISTED NORTH AMERICAN PALLADIUM LTD PAL	$3K	﹤0.01%	13,650	–	–
161	161 American Express AXP $230B	–	–	-2,169	Closed	-$202K
162	162 BHP BHP $141B	–	–	-5,558	Closed	-$222K
163	163 Devon Energy DVN $22.6B	–	–	-3,415	Closed	-$209K
164	164 Emerson Electric EMR $74.9B	–	–	-3,805	Closed	-$235K
165	165 KLA KLAC $115B	–	–	-3,190	Closed	-$224K
166	TCP 166 DELISTED TC Pipelines LP TCP	–	–	-2,850	Closed	-$203K
167	PETM 167 DELISTED PETSMART INC PETM	–	–	-3,470	Closed	-$282K
168	MWIV 168 DELISTED MWI VETERINARY SUPPLY, INC. MWIV	–	–	-1,350	Closed	-$229K