Valmark Advisers Portfolio holdings

AUM $6.63B

This Quarter Return

-0.52%

1 Year Return

+3.58%

3 Year Return

+9.19%

5 Year Return

+58.07%

10 Year Return

+59.25%

AUM

$6.63B

AUM Growth

+$175M (+3%)

Cap. Flow

+$232M

Cap. Flow % of AUM

3.49%

Top 10 Holdings %Top 10 Hldgs %

47.49%

Holding

628

New

Increased

275

Reduced

241

Closed

Top Buys

1	SPDR Portfolio S&P 400 Mid Cap ETF SPMD	$19.1M
2	SPDR Portfolio S&P 600 Small Cap ETF SPSM	$19M
3	Vanguard Intermediate-Term Treasury ETF VGIT	$15.9M
4	SPDR Portfolio S&P 500 Value ETF SPYV	$14.2M
5	Vanguard S&P 500 ETF VOO	$12.7M

Top Sells

1	Schwab US Dividend Equity ETF SCHD	$6.32M
2	First Trust Capital Strength ETF FTCS	$6.19M
3	WisdomTree Target Range Fund GTR	$5.11M
4	Schwab US Mid-Cap ETF SCHM	$2.67M
5	SUM Summit Materials, Inc. Class A Common Stock SUM	$1.9M

Sector Composition

1	Technology	1.74%
2	Financials	1.11%
3	Consumer Discretionary	0.59%
4	Industrials	0.57%
5	Consumer Staples	0.54%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 Vanguard FTSE Developed Markets ETF VEA $163B	$597M	9%	11,740,187 +96,198	+0.8%	+$4.89M
2	2 SPDR Portfolio S&P 500 Value ETF SPYV $26.9B	$406M	6.12%	7,945,035 +278,742	+4%	+$14.2M
3	3 SPDR Portfolio S&P 500 Growth ETF SPYG $38.3B	$381M	5.75%	4,744,344 +109,101	+2%	+$8.77M
4	4 SPDR Portfolio S&P 400 Mid Cap ETF SPMD $13.6B	$326M	4.92%	6,369,152 +373,475	+6%	+$19.1M
5	5 Vanguard Short-Term Inflation-Protected Securities Index Fund VTIP $15.2B	$299M	4.52%	5,999,869 +195,252	+3%	+$9.74M
6	6 Vanguard S&P 500 ETF VOO $689B	$290M	4.37%	563,876 +24,659	+5%	+$12.7M
7	7 SPDR Portfolio S&P 600 Small Cap ETF SPSM $11.6B	$238M	3.6%	5,847,674 +465,430	+9%	+$19M
8	8 SPDR Portfolio Short Term Corporate Bond ETF SPSB $8.11B	$233M	3.51%	7,737,248 +246,234	+3%	+$7.41M
9	9 Vanguard FTSE Emerging Markets ETF VWO $91.8B	$195M	2.95%	4,314,262 +103,879	+2%	+$4.7M
10	10 SPDR Portfolio S&P 1500 Composite Stock Market ETF SPTM $10.6B	$181M	2.73%	2,657,632 +142,218	+6%	+$9.67M
11	11 Vanguard Intermediate-Term Treasury ETF VGIT $31.5B	$165M	2.49%	2,782,017 +268,472	+11%	+$15.9M
12	12 Xtrackers USD High Yield Corporate Bond ETF HYLB $3.92B	$163M	2.46%	4,510,132 +139,831	+3%	+$5.05M
13	13 iShares Global REIT ETF REET $3.92B	$139M	2.09%	5,714,409 +68,963	+1%	+$1.67M
14	14 iShares Broad USD Investment Grade Corporate Bond ETF USIG $14.1B	$137M	2.07%	2,690,429 +134,255	+5%	+$6.86M
15	15 FlexShares Global Upstream Natural Resources Index Fund GUNR $4.84B	$134M	2.02%	3,456,199 +115,044	+3%	+$4.46M
16	16 Vanguard Short-Term Bond ETF BSV $38.2B	$106M	1.59%	1,350,290 +88,559	+7%	+$6.93M
17	17 VanEck JP Morgan EM Local Currency Bond ETF EMLC $3.53B	$95.9M	1.45%	4,019,623 +124,552	+3%	+$2.97M
18	18 iShares MSCI Emerging Markets ex China ETF EMXC $13.6B	$95.8M	1.44%	1,738,666 +44,988	+3%	+$2.48M
19	19 iShares iBoxx $ Investment Grade Corporate Bond ETF LQD $29.1B	$85.6M	1.29%	787,400 +45,301	+6%	+$4.92M
20	20 Schwab US Dividend Equity ETF SCHD $70.9B	$76.1M	1.15%	2,721,229 -226,119	-8%	-$6.32M
21	21 Vanguard Short-Term Treasury ETF VGSH $22.7B	$74.2M	1.12%	1,263,428 -8,547	-0.7%	-$502K
22	22 iShares MSCI EAFE ETF EFA $64.1B	$64.7M	0.98%	791,489 +14,203	+2%	+$1.16M
23	23 Vanguard Mortgage-Backed Securities ETF VMBS $14.3B	$64.6M	0.97%	1,394,052 +40,122	+3%	+$1.86M
24	24 iShares S&P 500 Growth ETF IVW $61.1B	$63.2M	0.95%	680,388 -14,900	-2%	-$1.38M
25	25 iShares S&P 500 Value ETF IVE $39.5B	$59M	0.89%	309,696 -2,618	-0.8%	-$499K