RFS

Richardson Financial Services Portfolio holdings

AUM $131M

This Quarter Return

-0.37%

1 Year Return

+8.49%

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$131M

AUM Growth

-$10.9M (-8%)

Cap. Flow

-$8.38M

Cap. Flow % of AUM

-6.38%

Top 10 Holdings %Top 10 Hldgs %

28.02%

Holding

652

New

Increased

158

Reduced

198

Closed

Top Buys

1	SPDR Portfolio Developed World ex-US ETF SPDW	$1.31M
2	Energy Select Sector SPDR Fund XLE	$988K
3	Technology Select Sector SPDR Fund XLK	$923K
4	SPDR Portfolio Europe ETF SPEU	$653K
5	CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF CERY	$461K

Top Sells

1	Vanguard Growth ETF VUG	$1.93M
2	Vanguard Value ETF VTV	$1.67M
3	Vanguard FTSE Developed Markets ETF VEA	$1.6M
4	SPDR Portfolio S&P 500 ETF SPLG	$1.25M
5	Vanguard Tax-Exempt Bond Index Fund VTEB	$948K

Sector Composition

1	Technology	12.56%
2	Financials	7.25%
3	Consumer Discretionary	4.69%
4	Healthcare	4.22%
5	Communication Services	3.86%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
26	26 SPDR S&P 500 ETF Trust SPY $647B	$1.05M	0.8%	1,869 -391	-17%	-$219K
27	27 SPDR Portfolio S&P 400 Mid Cap ETF SPMD $13.5B	$1.02M	0.77%	19,838 +1,739	+10%	+$89K
28	28 Cintas CTAS $89.4B	$1.02M	0.77%	4,939 +23	+0.5%	+$4.73K
29	29 McDonald's MCD $212B	$994K	0.76%	3,182 +29	+0.9%	+$9.06K
30	30 Energy Select Sector SPDR Fund XLE $27.4B	$988K	0.75%	+10,573	New	+$988K
31	31 Costco COST $422B	$953K	0.73%	1,008 -15	-1%	-$14.2K
32	CERY 32 SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF CERY $488M	$932K	0.71%	33,633 +16,634	+98%	+$461K
33	33 Technology Select Sector SPDR Fund XLK $82.4B	$923K	0.7%	+4,469	New	+$923K
34	34 The Communication Services Select Sector SPDR Fund XLC $23.7B	$923K	0.7%	9,565 -171	-2%	-$16.5K
35	35 SPDR Blackstone Senior Loan ETF SRLN $7.01B	$888K	0.68%	21,593 +2,253	+12%	+$92.7K
36	36 iShares Core Total USD Bond Market ETF IUSB $32.7B	$879K	0.67%	19,068 -1,445	-7%	-$66.6K
37	37 SPDR Portfolio S&P 600 Small Cap ETF SPSM $11.5B	$794K	0.6%	19,472 -9,177	-32%	-$374K
38	38 SPDR Portfolio Aggregate Bond ETF SPAB $8.76B	$745K	0.57%	29,174 +3,233	+12%	+$82.6K
39	39 PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund HYS $1.43B	$742K	0.56%	7,921 -364	-4%	-$34.1K
40	40 SPDR S&P International Small Cap ETF GWX $715M	$733K	0.56%	22,937 +62	+0.3%	+$1.98K
41	41 Trane Technologies TT $99.8B	$729K	0.55%	2,163	–	–
42	42 Thermo Fisher Scientific TMO $157B	$724K	0.55%	1,454 -8	-0.6%	-$3.98K
43	43 SPDR Portfolio Long Term Treasury ETF SPTL $11.1B	$714K	0.54%	26,194 +5,803	+28%	+$158K
44	44 Walmart WMT $759B	$691K	0.53%	7,872 -61	-0.8%	-$5.36K
45	45 Adobe ADBE $155B	$688K	0.52%	1,793	–	–
46	46 iShares JPMorgan USD Emerging Markets Bond ETF EMB $13.7B	$684K	0.52%	7,545 -602	-7%	-$54.5K
47	47 Vanguard FTSE Developed Markets ETF VEA $163B	$672K	0.51%	13,211 -31,382	-70%	-$1.6M
48	48 Vanguard Real Estate ETF VNQ $33.7B	$661K	0.5%	7,303 +23	+0.3%	+$2.08K
49	49 American Water Works AWK $27.9B	$659K	0.5%	4,470	–	–
50	50 Vanguard Small-Cap ETF VB $65B	$656K	0.5%	2,960 -1,367	-32%	-$303K