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
76	76 iShares MSCI USA Min Vol Factor ETF USMV $23.5B	$511K	0.39%	5,460 -555	-9%	-$52K
77	77 Northrop Grumman NOC $74.7B	$504K	0.38%	984	–	–
78	78 Vanguard FTSE All-World ex-US Small-Cap Index Fund VSS $9.39B	$504K	0.38%	4,357 -427	-9%	-$49.4K
79	79 American Tower AMT $105B	$500K	0.38%	2,300	–	–
80	80 Berkshire Hathaway Class B BRK.B $1.02T	$500K	0.38%	938 -10	-1%	-$5.33K
81	81 Capital One COF $140B	$496K	0.38%	2,767	–	–
82	82 Vertex Pharmaceuticals VRTX $118B	$492K	0.37%	1,014 +40	+4%	+$19.4K
83	83 Salesforce CRM $251B	$480K	0.37%	1,788 +30	+2%	+$8.05K
84	84 S&P Global SPGI $161B	$480K	0.37%	945 -24	-2%	-$12.2K
85	85 JPMorgan Global Select Equity ETF JGLO $7.12B	$470K	0.36%	7,974 +1,429	+22%	+$84.2K
86	86 PepsiCo PEP $196B	$459K	0.35%	3,062	–	–
87	87 SPDR Portfolio Long Term Corporate Bond ETF SPLB $1.2B	$453K	0.34%	+20,067	New	+$453K
88	88 Palo Alto Networks PANW $131B	$447K	0.34%	2,618 +20	+0.8%	+$3.41K
89	89 Broadcom AVGO $1.33T	$446K	0.34%	2,666 -16	-0.6%	-$2.68K
90	90 Zoetis ZTS $66.2B	$446K	0.34%	2,709 +10	+0.4%	+$1.65K
91	91 Vanguard Mega Cap Value ETF MGV $9.53B	$445K	0.34%	3,455 +322	+10%	+$41.5K
92	92 NXP Semiconductors NXPI $57.1B	$431K	0.33%	2,266	–	–
93	93 Vanguard Mid-Cap Value ETF VOE $18.1B	$429K	0.33%	2,675 +286	+12%	+$45.9K
94	94 SPDR Bloomberg 1-3 Month T-Bill ETF BIL $41.9B	$415K	0.32%	4,521 -4,368	-49%	-$401K
95	95 SPDR Bloomberg High Yield Bond ETF JNK $8.01B	$405K	0.31%	4,246 -9,500	-69%	-$905K
96	96 SPDR Nuveen ICE Municipal Bond ETF TFI $3.18B	$402K	0.31%	8,910 +648	+8%	+$29.2K
97	97 iShares Core MSCI EAFE ETF IEFA $141B	$401K	0.31%	5,305 -636	-11%	-$48.1K
98	98 SPDR Portfolio Intermediate Term Treasury ETF SPTI $8.69B	$397K	0.3%	13,899 +13	+0.1%	+$372
99	99 SPDR SSGA Ultra Short Term Bond ETF ULST $593M	$391K	0.3%	9,622	–	–
100	100 Chevron CVX $260B	$387K	0.29%	2,315 +7	+0.3%	+$1.17K