Financial Advisory Group

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Portfolio value: $567M
Positions: 91
Quarter ended: March 31, 2024
Filed: May 10, 2024

Reported portfolio value by quarter (44 quarters reported)

$567M $157M

Q2 13 Q3 15 Q4 17 Q1 20 Q2 22 Q1 24

$157M in Q2 2013 → $567M now. Hover for any quarter.

Holdings

As reported for the quarter ended March 31, 2024. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
VI Vanguard Index Fds	15.6%	Added 2.6%	183,759	$88.3M
DE Dbx ETF Tr	11.9%	Added 2.5%	1,654,073	$67.7M
SS SPDR S&P 500 ETF Tr	11.3%	Trimmed 3.2%	122,238	$63.9M
SI SPDR Index Shs Fds	7.9%	Added 5.7%	1,242,649	$44.5M
IT Ishares Tr	5.8%	Added 417%	537,167	$32.6M
SD SPDR Dow Jones Indl Avrg ETF	4.6%	Trimmed 4.4%	65,482	$26M
SS SPDR Sp Midcap 400 ETF Tr	4.4%	Trimmed 1.1%	45,304	$25.2M
IT Ishares Tr	4.0%	Added 13%	994,183	$22.6M
SS SPDR Series Trust	3.2%	Added 6.5%	219,943	$18.2M
SS SPDR Ser Tr	2.7%	Added 8.9%	556,877	$15.6M
Apple Inc	2.4%	Trimmed 0.3%	78,332	$13.4M
SS Schwab Strategic Tr	2.1%	Trimmed 5.4%	304,111	$11.9M
VI Vanguard Index Fds	2.0%	Trimmed 1.3%	46,989	$11.3M
SS Schwab Strategic Tr	2.0%	Trimmed 2.4%	180,221	$11.2M
PQ Powershs Qqq Trust Ser 1	1.9%	Added 3.2%	24,544	$10.9M
VI Vanguard Index Fds	1.3%	Trimmed 4.9%	22,015	$7.58M
IE Invesco Exchange Traded Fd T	1.3%	Added 6.6%	44,459	$7.53M
IT Ishares Tr	1.1%	Added 2.7%	66,408	$6.29M
AE Ark ETF Tr	0.9%	Trimmed 12%	101,996	$5.11M
IT Ishares Tr	0.6%	Unchanged	97,759	$3.41M
BG Brp Group Inc	0.6%	Unchanged	115,925	$3.35M
SS Schwab Strategic Tr	0.5%	Trimmed 0.3%	37,919	$3.09M
BH Berkshire Hathaway Inc Del	0.5%	Added 0.8%	7,290	$3.07M
Microsoft Corp	0.5%	Trimmed 0.4%	7,245	$3.05M
IT Ishares Tr	0.5%	Unchanged	35,328	$2.97M
IT Ishares Tr	0.5%	Trimmed 31%	29,728	$2.91M
Exxon Mobil Corporation	0.5%	Added 0.2%	23,075	$2.68M
IT Ishares Tr	0.5%	Trimmed 6.9%	28,313	$2.68M
IT Ishares Tr	0.4%	Trimmed 37%	24,954	$2.31M
IE Invesco Exch Trd Slf Idx Fd	0.4%	Trimmed 1.7%	106,969	$2.24M
IE Invesco Exch Trd Slf Idx Fd	0.4%	Trimmed 1.2%	106,591	$2.18M
IE Invesco Exch Trd Slf Idx Fd	0.4%	Trimmed 0.8%	106,201	$2.04M
Amazon Com Inc	0.4%	Trimmed 0.9%	11,286	$2.04M
PE Powershares ETF Tr Ii	0.4%	Trimmed 13%	30,568	$2.01M
IE Invesco Exch Trd Slf Idx Fd	0.4%	Trimmed 1.3%	103,199	$1.99M
SS Schwab Strategic Tr	0.3%	Trimmed 21%	73,649	$1.86M
IE Invesco Exch Trd Slf Idx Fd	0.3%	Added 0.7%	81,642	$1.64M
Alphabet Inc	0.3%	Added 0.7%	9,607	$1.46M
Nvidia Corporation	0.3%	Added 6.7%	1,593	$1.44M
MD Mc Donalds Corp	0.3%	Added 0.2%	5,058	$1.43M
IE Invesco Exch Trd Slf Idx Fd	0.2%	Added 13%	75,724	$1.39M
Alphabet Inc	0.2%	Trimmed 0.0%	8,869	$1.34M
LE Lilly Eli & Co	0.2%	Added 44%	1,619	$1.26M
Home Depot Inc	0.2%	Added 0.3%	2,971	$1.14M
WS Wal-mart Stores Inc	0.2%	Added 200%	18,068	$1.09M
VS Vanguard Scottsdale Fds	0.2%	Trimmed 43%	12,508	$1.01M
Pepsico Incorporated	0.2%	Unchanged	5,689	$996K
VS Vanguard Specialized Portfol	0.2%	Trimmed 3.1%	4,780	$873K
Rtx Corporation	0.2%	Trimmed 0.0%	8,877	$866K
Abbvie Inc	0.1%	Trimmed 0.6%	4,322	$787K
Union Pacific Corp	0.1%	Unchanged	2,954	$726K
IE Invesco Exch Trd Slf Idx Fd	0.1%	Added 91%	43,545	$714K
Johnson Johnson	0.1%	Unchanged	4,493	$711K
Boeing Co	0.1%	Added 0.3%	3,626	$700K
Tesla Inc	0.1%	Trimmed 0.6%	3,683	$647K
BH Berkshire Hathaway Inc Del	0.1%	Unchanged	1	$634K
Jpmorgan Chase & Co	0.1%	Trimmed 5.2%	3,091	$619K
JP J P Morgan Exchange-traded F	0.1%	Trimmed 46%	11,975	$608K
NA Novo-nordisk A S	0.1%	Added 0.5%	4,514	$580K
CN Chevron Corp New	0.1%	Unchanged	3,649	$576K

Showing top 60 of 91 positions.

Timeline of changes

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.

Q1 2024

quarter ended March 31, 2024 · filed May 10, 2024

Company	Action	Shares changed	Value of change	% of portfolio
IT Ishares Tr	Added	+433,333	+$26.3M	5.8%
IT Ishares Tr	Added	+116,033	+$2.64M	4.0%
SI SPDR Index Shs Fds	Added	+67,235	+$2.41M	7.9%
VI Vanguard Index Fds	Added	+4,667	+$2.24M	15.6%
SS SPDR S&P 500 ETF Tr	Trimmed	−4,005	−$2.09M	11.3%
DE Dbx ETF Tr	Added	+40,396	+$1.65M	11.9%
IT Ishares Tr	Trimmed	−14,713	−$1.36M	0.4%
IT Ishares Tr	Trimmed	−13,655	−$1.34M	0.5%
SS SPDR Ser Tr	Added	+45,700	+$1.28M	2.7%
SD SPDR Dow Jones Indl Avrg ETF	Trimmed	−3,032	−$1.21M	4.6%

Showing the 10 largest of 71 changes.

Q4 2023

quarter ended December 31, 2023 · filed February 13, 2024

Company	Action	Shares changed	Value of change	% of portfolio
IT Ishares Tr	Added	+100,615	+$2.32M	3.8%
IE Invesco Exch Trd Slf Idx Fd	Exited	−108,302	−$2.3M	—
SS SPDR S&P 500 ETF Tr	Trimmed	−3,356	−$1.6M	11.4%
VI Vanguard Index Fds	Trimmed	−3,336	−$1.46M	14.8%
SD SPDR Dow Jones Indl Avrg ETF	Trimmed	−3,147	−$1.19M	4.9%
JP J P Morgan Exchange-traded F	Trimmed	−21,900	−$1.11M	0.2%
SS SPDR Ser Tr	Added	+34,997	+$1.02M	2.8%
IT Ishares Tr	Added	+9,277	+$894K	1.2%
Pepsico Incorporated	Trimmed	−3,735	−$634K	0.2%
Home Depot Inc	Trimmed	−1,802	−$624K	0.2%

Showing the 10 largest of 68 changes.

Q3 2023

quarter ended September 30, 2023 · filed December 07, 2023

Company	Action	Shares changed	Value of change	% of portfolio
IT Ishares Tr	New	+777,535	+$17.1M	3.5%
VI Vanguard Index Fds	Trimmed	−20,660	−$8.11M	14.8%
IT Ishares Tr	New	+55,389	+$5.07M	1.0%
IT Ishares Tr	Trimmed	−30,799	−$2.9M	0.9%
SD SPDR Dow Jones Indl Avrg ETF	Trimmed	−7,533	−$2.52M	4.9%
IT Ishares Tr	Trimmed	−23,885	−$2.12M	0.7%
VS Vanguard Scottsdale Fds	Trimmed	−15,959	−$1.21M	0.4%
JP J P Morgan Exchange-traded F	Trimmed	−23,240	−$1.17M	0.5%
BG Brp Group Inc	Added	+45,258	+$1.05M	0.6%
RT Raytheon Technologies Corp	Exited	−8,894	−$871K	—

Showing the 10 largest of 78 changes.

Q2 2023

quarter ended June 30, 2023 · filed August 09, 2023

Company	Action	Shares changed	Value of change	% of portfolio
BH Berkshire Hathaway Inc Del	Trimmed	−99	−$51.3M	0.1%
VI Vanguard Index Fds	Trimmed	−8,792	−$3.58M	16.3%
DE Dbx ETF Tr	Trimmed	−63,628	−$2.25M	11.2%
IT Ishares Tr	Trimmed	−20,563	−$1.92M	1.1%
IT Ishares Tr	Added	+14,996	+$1.47M	1.5%
VS Vanguard Scottsdale Fds	Trimmed	−18,527	−$1.46M	0.7%
SI SPDR Index Shs Fds	Trimmed	−44,261	−$1.44M	7.5%
SS SPDR S&P 500 ETF Tr	Trimmed	−3,207	−$1.42M	11.5%
IT Ishares Tr	Added	+12,609	+$1.3M	0.5%
SD SPDR Dow Jones Indl Avrg ETF	Trimmed	−2,936	−$1.01M	5.4%

Showing the 10 largest of 61 changes.

Q1 2023

quarter ended March 31, 2023 · filed May 11, 2023

Company	Action	Shares changed	Value of change	% of portfolio
IT Ishares Tr	Trimmed	−46,540	−$4.41M	1.6%
VS Vanguard Scottsdale Fds	Trimmed	−39,672	−$3.18M	1.0%
SI SPDR Index Shs Fds	Added	+56,140	+$1.8M	7.8%
SS Schwab Strategic Tr	Added	+36,975	+$1.79M	2.2%
PQ Powershs Qqq Trust Ser 1	Trimmed	−3,538	−$1.14M	1.7%
VI Vanguard Index Fds	Added	+2,285	+$859K	16.1%
JP J P Morgan Exchange-traded F	Trimmed	−14,935	−$759K	0.8%
SS Schwab Strategic Tr	Trimmed	−29,504	−$723K	0.7%
SS SPDR S&P 500 ETF Tr	Trimmed	−1,736	−$711K	11.1%
DE Dbx ETF Tr	Added	+18,317	+$645K	11.9%

Showing the 10 largest of 71 changes.

Q4 2022

quarter ended December 31, 2022 · filed February 09, 2023

Company	Action	Shares changed	Value of change	% of portfolio
IT Ishares Tr	New	+60,465	+$5.87M	1.2%
DE Dbx ETF Tr	Trimmed	−166,864	−$5.38M	11.3%
IT Ishares Tr	Added	+56,749	+$5.26M	2.5%
SS Schwab Strategic Tr	Added	+147,922	+$4.76M	2.3%
SS Schwab Strategic Tr	Added	+95,605	+$4.32M	1.8%
VS Vanguard Scottsdale Fds	Added	+40,758	+$3.16M	1.7%
VI Vanguard Index Fds	Trimmed	−8,845	−$3.11M	15.6%
VI Vanguard Index Fds	Trimmed	−9,223	−$1.61M	1.8%
IE Invesco Exch Trd Slf Idx Fd	Exited	−72,459	−$1.54M	—
SS Schwab Strategic Tr	Trimmed	−61,255	−$1.45M	0.8%

Showing the 10 largest of 73 changes.

Q3 2022

quarter ended September 30, 2022 · filed November 14, 2022

Company	Action	Shares changed	Value of change	% of portfolio
PE Pgim ETF Tr	Trimmed	−301,975	−$14.8M	0.2%
VI Vanguard Index Fds	Trimmed	−9,741	−$3.2M	16.2%
IT Ishares Tr	Added	+33,953	+$3.11M	1.5%
VS Vanguard Scottsdale Fds	Added	+38,375	+$2.9M	1.0%
SI SPDR Index Shs Fds	Added	+70,854	+$1.83M	6.7%
VI Vanguard Index Fds	Added	+9,600	+$1.57M	2.1%
PQ Powershs Qqq Trust Ser 1	Added	+5,690	+$1.52M	1.9%
DE Dbx ETF Tr	Trimmed	−40,660	−$1.36M	13.7%
IT Ishares Tr	Added	+42,708	+$1.28M	0.8%
SS Schwab Strategic Tr	Added	+42,707	+$1.2M	1.2%

Showing the 10 largest of 77 changes.

Q2 2022

quarter ended June 30, 2022 · filed August 10, 2022

Company	Action	Shares changed	Value of change	% of portfolio
VI Vanguard Index Fds	Added	+77,052	+$26.7M	16.8%
IE Invesco Exchange Traded Fd T	Trimmed	−342,730	−$25.7M	0.1%
SS SPDR Ser Tr	New	+493,471	+$16.3M	3.5%
PE Pgim ETF Tr	Trimmed	−281,622	−$13.8M	3.3%
SI SPDR Index Shs Fds	Added	+143,808	+$4.15M	6.6%
SS Schwab Strategic Tr	Added	+131,544	+$4.14M	0.9%
SS Schwab Strategic Tr	Added	+152,462	+$3.87M	1.2%
IT Ishares Tr	Added	+30,601	+$2.98M	0.8%
PQ Powershs Qqq Trust Ser 1	Added	+8,600	+$2.41M	1.5%
VS Vanguard Scottsdale Fds	New	+22,955	+$1.84M	0.4%

Showing the 10 largest of 83 changes.

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