HFS

Howard Financial Services Portfolio holdings

AUM $761M

This Quarter Return

-1.37%

1 Year Return

+9.87%

3 Year Return

+40.66%

5 Year Return

+75.52%

10 Year Return

–

AUM

$734M

AUM Growth

-$734K (-0.1%)

Cap. Flow

+$13M

Cap. Flow % of AUM

1.77%

Top 10 Holdings %Top 10 Hldgs %

53.32%

Holding

199

New

Increased

Reduced

Closed

Top Buys

1	WisdomTree Trust WisdomTree US Quality Dividend Growth Fund DGRW	$6.34M
2	iShares MSCI USA Quality Factor ETF QUAL	$5.08M
3	Invesco S&P 500 GARP ETF SPGP	$4.3M
4	VanEck Fallen Angel High Yield Bond ETF ANGL	$3.01M
5	SPDR Bloomberg Short Term High Yield Bond ETF SJNK	$2.45M

Top Sells

1	Pacer US Small Cap Cash Cows 100 ETF CALF	$2.25M
2	PGIM Total Return Bond ETF PTRB	$1.76M
3	IBTX Independent Bank Group, Inc. IBTX	$1.64M
4	iShares MSCI Intl Quality Factor ETF IQLT	$1.46M
5	First Trust Exchange-Traded Fund VIII First Trust Smith Opportunistic Fixed Income ETF FIXD	$1.24M

Sector Composition

1	Technology	8%
2	Energy	3.36%
3	Financials	2.63%
4	Consumer Discretionary	2.14%
5	Consumer Staples	1.01%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 iShares MSCI USA Quality Factor ETF QUAL $53.8B	$82.8M	11.28%	484,702 +29,747	+7%	+$5.08M
2	2 Schwab US Dividend Equity ETF SCHD $71.3B	$58M	7.89%	2,073,100 +51,341	+3%	+$1.44M
3	3 Vanguard Dividend Appreciation ETF VIG $94.3B	$36M	4.91%	185,818 +2,894	+2%	+$561K
4	4 Invesco S&P 500 GARP ETF SPGP $2.87B	$35.4M	4.82%	354,389 +43,077	+14%	+$4.3M
5	5 Invesco S&P 500 Equal Weight ETF RSP $75.3B	$34.6M	4.71%	199,531 -3,928	-2%	-$680K
6	6 Invesco Total Return Bond ETF GTO $1.97B	$33.5M	4.57%	714,829 +14,159	+2%	+$664K
7	7 Apple AAPL $3.19T	$30M	4.08%	134,972 +231	+0.2%	+$51.3K
8	8 Hartford Total Return Bond ETF HTRB $2.02B	$29.4M	4%	868,425 -15,455	-2%	-$523K
9	9 PGIM Total Return Bond ETF PTRB $484M	$27.9M	3.8%	669,232 -42,169	-6%	-$1.76M
10	10 WisdomTree Trust WisdomTree US Quality Dividend Growth Fund DGRW $16.2B	$23.9M	3.26%	299,775 +79,401	+36%	+$6.34M
11	11 SPDR DoubleLine Total Return Tactical ETF TOTL $3.81B	$20.7M	2.82%	514,756 +58,295	+13%	+$2.35M
12	12 SPDR Bloomberg Short Term High Yield Bond ETF SJNK $4.8B	$20.2M	2.75%	804,101 +97,575	+14%	+$2.45M
13	13 iShares MSCI Intl Quality Factor ETF IQLT $12B	$17.5M	2.38%	441,111 -36,822	-8%	-$1.46M
14	14 VanEck Fallen Angel High Yield Bond ETF ANGL $2.95B	$15M	2.04%	519,549 +104,322	+25%	+$3.01M
15	15 Pacer US Small Cap Cash Cows 100 ETF CALF $4.24B	$14.4M	1.96%	384,417 -59,884	-13%	-$2.25M
16	16 Vanguard International Dividend Appreciation ETF VIGI $8.4B	$14M	1.91%	168,986 -10,244	-6%	-$850K
17	17 Schwab Fundamental International Large Company Index ETF FNDF $16.9B	$13.8M	1.87%	381,000 -33,991	-8%	-$1.23M
18	18 SPDR S&P 500 ETF Trust SPY $655B	$12.9M	1.76%	23,133 +856	+4%	+$479K
19	19 First Trust Rising Dividend Achievers ETF RDVY $15.6B	$12M	1.63%	204,854 +4,873	+2%	+$285K
20	20 WisdomTree Emerging Markets ex-State-Owned Enterprises Fund XSOE $1.92B	$9.83M	1.34%	318,466 -31,694	-9%	-$978K
21	21 Microsoft MSFT $3.82T	$9.18M	1.25%	24,443 +645	+3%	+$242K
22	22 NVIDIA NVDA $4.23T	$8.78M	1.2%	81,027 +3,662	+5%	+$397K
23	23 First Trust Exchange-Traded Fund VIII First Trust Smith Opportunistic Fixed Income ETF FIXD $3.35B	$8.55M	1.16%	194,977 -28,278	-13%	-$1.24M
24	24 Invesco QQQ Trust QQQ $359B	$8.14M	1.11%	17,358 -971	-5%	-$455K
25	25 First Trust Preferred Securities and Income ETF FPE $5.98B	$8.12M	1.11%	461,801 -63,775	-12%	-$1.12M