Tectonic Advisors Portfolio holdings

AUM $1.72B

This Quarter Return

+1.55%

1 Year Return

+11.39%

3 Year Return

+36.22%

5 Year Return

–

10 Year Return

–

AUM

$1.6B

AUM Growth

+$70.5M (+5%)

Cap. Flow

+$56.7M

Cap. Flow % of AUM

3.55%

Top 10 Holdings %Top 10 Hldgs %

46.1%

Holding

328

New

Increased

207

Reduced

Closed

Top Buys

1	SPDR Bloomberg 1-3 Month T-Bill ETF BIL	$10.6M
2	Vanguard FTSE Developed Markets ETF VEA	$2.98M
3	iShares Core US Aggregate Bond ETF AGG	$2.54M
4	Kirby Corp KEX	$2.53M
5	iShares Core International Aggregate Bond Fund IAGG	$2.49M

Top Sells

1	PPG Industries PPG	$5.84M
2	American Homes 4 Rent AMH	$4.87M
3	Progressive PGR	$3.07M
4	Agnico Eagle Mines AEM	$1.34M
5	Sleep Number SNBR	$1.04M

Sector Composition

1	Financials	6.73%
2	Energy	6.26%
3	Technology	5.3%
4	Consumer Discretionary	4.55%
5	Industrials	3.54%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 PIMCO Active Bond Exchange-Traded Fund BOND $5.7B	$150M	9.39%	1,624,502 -6,028	-0.4%	-$557K
2	2 Vanguard FTSE Developed Markets ETF VEA $167B	$144M	9%	2,832,766 +58,543	+2%	+$2.98M
3	3 SPDR DoubleLine Total Return Tactical ETF TOTL $3.83B	$99.2M	6.2%	2,462,316 +26,480	+1%	+$1.07M
4	4 Vanguard S&P 500 ETF VOO $704B	$95.9M	6%	186,676 +4,762	+3%	+$2.45M
5	5 iShares Core S&P 500 ETF IVV $645B	$63.4M	3.96%	112,823 +4,046	+4%	+$2.27M
6	6 Vanguard FTSE Emerging Markets ETF VWO $93.8B	$46.4M	2.9%	1,025,478 +32,077	+3%	+$1.45M
7	7 Vanguard Total Bond Market BND $131B	$42.1M	2.63%	572,754 +28,905	+5%	+$2.12M
8	8 SPDR Bloomberg 1-3 Month T-Bill ETF BIL $41.6B	$39.6M	2.48%	431,999 +115,104	+36%	+$10.6M
9	9 iShares Core US Aggregate Bond ETF AGG $128B	$34.2M	2.14%	345,612 +25,703	+8%	+$2.54M
10	10 Absolute Select Value ETF ABEQ $108M	$22.4M	1.4%	658,738 -17,093	-3%	-$583K
11	FLXR 11 TCW Flexible Income ETF FLXR $1.49B	$20.4M	1.28%	521,822 +24,896	+5%	+$975K
12	12 Enterprise Products Partners EPD $68.2B	$20M	1.25%	586,802 +16,409	+3%	+$560K
13	13 Vanguard Mid-Cap ETF VO $84.6B	$18.6M	1.16%	72,043 +1,567	+2%	+$405K
14	14 SPDR Portfolio S&P 500 ETF SPLG $79.6B	$16.1M	1.01%	244,930 -1,785	-0.7%	-$117K
15	15 Vanguard Real Estate ETF VNQ $33.4B	$15.9M	0.99%	175,152 +2,248	+1%	+$204K
16	16 Vanguard Small-Cap ETF VB $64.1B	$14.9M	0.93%	67,302 +2,519	+4%	+$559K
17	17 Alerian MLP ETF AMLP $10.6B	$13.5M	0.85%	260,828 +17,028	+7%	+$884K
18	18 Global X MLP ETF MLPA $1.78B	$13.3M	0.83%	249,364 +17,600	+8%	+$937K
19	19 WisdomTree Floating Rate Treasury Fund USFR $18.8B	$12.5M	0.78%	247,842 -17,871	-7%	-$899K
20	20 Enbridge ENB $102B	$12.3M	0.77%	278,241 +14,293	+5%	+$633K
21	21 IBM IBM $226B	$12.3M	0.77%	49,350 -177	-0.4%	-$44K
22	22 AT&T T $201B	$12M	0.75%	425,027 +4,339	+1%	+$123K
23	23 MPLX MPLX $51.4B	$11.3M	0.71%	211,595 +6,157	+3%	+$330K
24	24 iShares Core US REIT ETF USRT $2.92B	$11.2M	0.7%	195,216	–	–
25	25 Oneok OKE $46.9B	$11.1M	0.69%	112,028 +7,817	+8%	+$776K