FMI

F/M Investments Portfolio holdings

AUM $2.75B

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

This Quarter Return

+4.4%

1 Year Return

+20.95%

3 Year Return

+124.61%

5 Year Return

–

10 Year Return

–

AUM

$2.77B

AUM Growth

+$2.77B (+1,770%)

Cap. Flow

+$2.62B

Cap. Flow % of AUM

94.75%

Top 10 Holdings % Top 10 Hldgs %

26.07%

Holding

354

New

274

Increased

Reduced

Closed

Top Buys

1	Microsoft MSFT	$106M
2	NVIDIA NVDA	$98.2M
3	Alphabet (Google) Class A GOOGL	$89.7M
4	Apple AAPL	$85M
5	Amazon AMZN	$74.8M

Top Sells

1	F/M 10-Year Investment Grade Corporate Bond ETF ZTEN	$11.6M
2	F/M 3-Year Investment Grade Corporate Bond ETF ZTRE	$9.99M
3	F/M 2-Year Investment Grade Corporate Bond ETF ZTWO	$6.42M
4	TBIL US Treasury 3 Month Bill ETF TBIL	$3.51M
5	US Treasury 12 Month Bill ETF OBIL	$3.11M

Sector Composition

1	Technology	26.44%
2	Industrials	13.03%
3	Healthcare	12.33%
4	Financials	10.77%
5	Consumer Discretionary	10.06%

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
201	201 TransDigm Group TDG $73B	$2.24M	0.08%	1,752 -1	-0.1%	-$1.28K
202	202 First Solar FSLR $20.7B	$2.21M	0.08%	+9,788	New	+$2.21M
203	203 Ally Financial ALLY $12.4B	$2.2M	0.08%	+55,153	New	+$2.2M
204	204 Phillips 66 PSX $53.5B	$2.19M	0.08%	+15,621	New	+$2.19M
205	205 Fair Isaac FICO $35.6B	$2.18M	0.08%	+1,465	New	+$2.18M
206	206 Viking Therapeutics VKTX $2.96B	$2.16M	0.08%	+40,821	New	+$2.16M
207	207 L3Harris LHX $51.7B	$1.98M	0.07%	+8,829	New	+$1.98M
208	208 Burlington BURL $18.1B	$1.94M	0.07%	+8,064	New	+$1.94M
209	209 Iron Mountain IRM $26.4B	$1.92M	0.07%	+21,260	New	+$1.92M
210	210 Fastenal FAST $56.6B	$1.91M	0.07%	+30,408	New	+$1.91M
211	211 Booking.com BKNG $180B	$1.91M	0.07%	+481	New	+$1.91M
212	212 Clorox CLX $14.6B	$1.89M	0.07%	+13,906	New	+$1.89M
213	213 EPAM Systems EPAM $9.6B	$1.88M	0.07%	+9,992	New	+$1.88M
214	214 FedEx FDX $52.8B	$1.88M	0.07%	6,280 +5,452	+658%	+$1.63M
215	215 Target TGT $42.1B	$1.83M	0.07%	+12,328	New	+$1.83M
216	216 Coinbase COIN $78.6B	$1.79M	0.06%	+8,053	New	+$1.79M
217	217 Vanguard Growth ETF VUG $181B	$1.78M	0.06%	+4,750	New	+$1.78M
218	218 Qualcomm QCOM $168B	$1.76M	0.06%	+8,749	New	+$1.76M
219	219 Quest Diagnostics DGX $20.2B	$1.72M	0.06%	+12,529	New	+$1.72M
220	220 Dow Inc DOW $17.1B	$1.72M	0.06%	+32,414	New	+$1.72M
221	221 Salesforce CRM $238B	$1.72M	0.06%	6,685 -387	-5%	-$99.5K
222	222 Molson Coors Class B TAP $9.92B	$1.7M	0.06%	+33,602	New	+$1.7M
223	223 NRG Energy NRG $27.8B	$1.68M	0.06%	+21,497	New	+$1.68M
224	224 CVS Health CVS $93.8B	$1.66M	0.06%	+28,400	New	+$1.66M
225	225 Snap-on SNA $16.8B	$1.66M	0.06%	+6,381	New	+$1.66M