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Spruce Investment Advisors Portfolio holdings

AUM $48.5M
1-Year Est. Return 19.92%
This Fund
S&P 500
This Quarter Est. Return
+7.84%
1 Year Est. Return
+19.92%
3 Year Est. Return
+23.52%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$219M
AUM Growth
+$79.5M
Cap. Flow
+$66.9M
Cap. Flow %
30.61%
Top 10 Hldgs %
98.42%
Holding
23
New
3
Increased
4
Reduced
5
Closed
6

Top Buys

Rank Stock Value
1
SHM icon
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
+$36.8M
2
DFE icon
WisdomTree Europe SmallCap Dividend Fund
DFE
+$36.1M
3
VGK icon
Vanguard FTSE Europe ETF
VGK
+$14.9M
4
EWG icon
iShares MSCI Germany ETF
EWG
+$3.49M
5
DXJ icon
WisdomTree Japan Hedged Equity Fund
DXJ
+$3.37M

Top Sells

Rank Stock Value
1
BND icon
Vanguard Total Bond Market
BND
+$14.3M
2
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$3.78M
3
VB icon
Vanguard Small-Cap ETF
VB
+$3.43M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$3.41M
5
IEI icon
iShares 3-7 Year Treasury Bond ETF
IEI
+$1.55M

Sector Composition

Rank Sector Weight
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DXJ icon
1
WisdomTree Japan Hedged Equity Fund
DXJ
$7.23B
$65.6M 30.03%
1,290,861
+69,425
+6% +$3.37M
DFE icon
2
WisdomTree Europe SmallCap Dividend Fund
DFE
$163M
$38.8M 17.76%
+670,885
New +$36.1M
SHM icon
3
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.47B
$36.8M 16.84%
+757,293
New +$36.8M
EWG icon
4
iShares MSCI Germany ETF
EWG
$1.5B
$21.3M 9.77%
671,986
+117,927
+21% +$3.49M
VGK icon
5
Vanguard FTSE Europe ETF
VGK
$30B
$19.8M 9.07%
337,181
+265,051
+367% +$14.9M
VTI icon
6
Vanguard Total Stock Market ETF
VTI
$654B
$18.6M 8.51%
193,905
+20,094
+12% +$1.85M
SPY icon
7
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$8.57M 3.92%
46,403
-19,294
-29% -$3.41M
BND icon
8
Vanguard Total Bond Market
BND
$157B
$2.28M 1.04%
28,455
-177,369
-86% -$14.3M
GXC icon
9
State Street SPDR S&P China ETF
GXC
$445M
$1.91M 0.87%
24,443
-1,341
-5% -$103K
USCI icon
10
US Commodity Index
USCI
$372M
$1.31M 0.6%
23,396
– –
VEU icon
11
Vanguard FTSE All-World ex-US ETF
VEU
$65.6B
$699K 0.32%
13,776
– –
DWX icon
12
State Street SPDR S&P International Dividend ETF
DWX
$521M
$565K 0.26%
11,917
– –
GLD icon
13
SPDR Gold Trust
GLD
$131B
$508K 0.23%
4,372
– –
VB icon
14
Vanguard Small-Cap ETF
VB
$79.5B
$504K 0.23%
4,585
-32,245
-88% -$3.43M
SHY icon
15
iShares 1-3 Year Treasury Bond ETF
SHY
$25.4B
$447K 0.2%
5,296
-415
-7% -$35.1K
QQQ icon
16
Invesco QQQ Trust
QQQ
$455B
$443K 0.2%
5,038
– –
IBME
17
DELISTED
ISHARES IBONDS SEP 2016 TERM MUNI BOND ETF
IBME
$280K 0.13%
+10,460
New +$280K
ACWI icon
18
iShares MSCI ACWI ETF
ACWI
$32.6B
– –
-16,781
Closed -$905K
IEI icon
19
iShares 3-7 Year Treasury Bond ETF
IEI
$18.1B
– –
-12,784
Closed -$1.55M
SDY icon
20
State Street SPDR S&P Dividend ETF
SDY
$21.9B
– –
-11,613
Closed -$801K
VWO icon
21
Vanguard FTSE Emerging Markets ETF
VWO
$119B
– –
-94,097
Closed -$3.78M
XVZ
22
DELISTED
iPath S&P 500 Dynamic VIX ETN
XVZ
– –
-25,840
Closed -$1M
XIV
23
DELISTED
VelocityShares Daily Inverse VIX Short Term ETN
XIV
– –
-18,235
Closed -$489K

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Spruce Investment Advisors's Q4 2013 Portfolio in Review

As of Q4 2013, Spruce Investment Advisors held 23 positions worth $219M, up 57% from $139M the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Spruce Investment Advisors deployed $66.9M of net new capital in Q4 2013, opening 3 new positions and adding to 4 existing holdings. Its largest new stake was State Street SPDR Nuveen ICE Short Term Municipal Bond ETF: 757,293 shares worth $36.8M.

On the sell side, the largest reduction was Vanguard Total Bond Market, an estimated $14.3M trimmed.

  • Spruce Investment Advisors's largest Q4 2013 buy was State Street SPDR Nuveen ICE Short Term Municipal Bond ETF: 757,293 shares worth $36.8M.
  • Spruce Investment Advisors added most to Vanguard FTSE Europe ETF in Q4 2013, an estimated $14.9M increase.
  • Spruce Investment Advisors's biggest Q4 2013 reduction was Vanguard Total Bond Market, cutting an estimated $14.3M.
  • Spruce Investment Advisors fully exited Vanguard FTSE Emerging Markets ETF in Q4 2013, selling an estimated $3.78M.
  • Spruce Investment Advisors's ten largest holdings make up 98% of its $219M portfolio in Q4 2013.
  • Spruce Investment Advisors opened 3 new positions and closed 6 in Q4 2013.
  • Spruce Investment Advisors's portfolio value rose 57% quarter-over-quarter to $219M.

Based on Spruce Investment Advisors's 13F filing for Q4 2013, filed 4 Feb 2014.