Fjell Capital Portfolio holdings

AUM $108M

This Quarter Return

-2.95%

1 Year Return

–

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$98.6M

AUM Growth

+$1.81M (+2%)

Cap. Flow

+$5.41M

Cap. Flow % of AUM

5.49%

Top 10 Holdings %Top 10 Hldgs %

45.69%

Holding

New

Increased

Reduced

Closed

Top Buys

1	PGIM Short Duration High Yield ETF PSH	$3.21M
2	Brandes International ETF BINV	$2.19M
3	Victory Portfolios II VictoryShares Core Intermediate Bond ETF UITB	$2.17M
4	Technology Select Sector SPDR Fund XLK	$862K
5	NVIDIA NVDA	$730K

Top Sells

1	SPDR Portfolio High Yield Bond ETF SPHY	$2.99M
2	Capital Group Short Duration Income ETF CGSD	$1.43M
3	Johnson & Johnson JNJ	$898K
4	Invesco Total Return Bond ETF GTO	$870K
5	PepsiCo PEP	$680K

Sector Composition

1	Technology	17.22%
2	Financials	6.52%
3	Consumer Discretionary	5.6%
4	Communication Services	4.6%
5	Industrials	4.26%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
26	26 Salesforce CRM $248B	$1.35M	1.37%	5,018 +286	+6%	+$76.7K
27	27 Chevron CVX $260B	$1.32M	1.34%	7,899 +1,754	+29%	+$293K
28	28 Deere & Co DE $136B	$1.21M	1.23%	2,583 +48	+2%	+$22.5K
29	29 Marsh & McLennan MMC $105B	$1.13M	1.15%	4,644 -13	-0.3%	-$3.17K
30	30 Merck MRK $204B	$1.11M	1.12%	12,321 +1,364	+12%	+$122K
31	31 Chipotle Mexican Grill CMG $72.6B	$1.09M	1.11%	21,752 +2,705	+14%	+$136K
32	32 Adobe ADBE $155B	$1.09M	1.11%	2,846 -605	-18%	-$232K
33	33 Nextra Energy NEE $157B	$1.09M	1.11%	15,388 +2,082	+16%	+$148K
34	34 Blackstone BX $131B	$1.06M	1.07%	7,565 +665	+10%	+$93K
35	35 Home Depot HD $358B	$1.05M	1.06%	2,864 +204	+8%	+$74.8K
36	36 Ares Management ARES $40.1B	$1.05M	1.06%	7,155 +1,174	+20%	+$172K
37	37 RTX Corp RTX $203B	$1.05M	1.06%	7,895 +1,677	+27%	+$222K
38	38 Intercontinental Exchange ICE $104B	$1.02M	1.03%	5,897 +98	+2%	+$16.9K
39	39 Advanced Micro Devices AMD $254B	$983K	1%	9,569 -838	-8%	-$86.1K
40	40 UnitedHealth UNH $259B	$974K	0.99%	1,860 +166	+10%	+$87K
41	41 Technology Select Sector SPDR Fund XLK $82.2B	$862K	0.87%	+4,175	New	+$862K
42	42 Union Pacific UNP $134B	$514K	0.52%	2,177 -849	-28%	-$201K
43	43 KKR & Co KKR $131B	$499K	0.51%	4,313 +490	+13%	+$56.7K
44	44 Danaher DHR $137B	$489K	0.5%	2,386 +408	+21%	+$83.6K
45	45 Lowe's Companies LOW $123B	$466K	0.47%	1,996 +1	+0.1%	+$233
46	46 Vanguard Information Technology ETF VGT $97.1B	$428K	0.43%	789 +40	+5%	+$21.7K
47	47 Alphabet (Google) Class C GOOG $2.25T	$347K	0.35%	2,218	–	–
48	48 Vanguard Total Bond Market BND $130B	$297K	0.3%	4,046 -1,248	-24%	-$91.7K
49	49 Vanguard FTSE Developed Markets ETF VEA $163B	$231K	0.23%	4,535 -680	-13%	-$34.6K
50	50 DNP Select Income Fund DNP $3.61B	$225K	0.23%	22,782 -6,118	-21%	-$60.5K