Goodwin Investment Advisory

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

Reported portfolio value by quarter (23 quarters reported)

$130B $49.7M

Q4 20 Q1 22 Q2 23 Q3 24 Q4 25 Q2 26

$81.7M in Q4 2020 → $49.7M now. Hover for any quarter.

Holdings

As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
FM Fidelity Merrimack Str Tr	28.9%	Added 11%	315,244	$14.3M
FC Fidelity Covington Trust	14.1%	Added 13%	89,747	$6.99M
IT Ishares Tr	10.1%	Trimmed 0.0%	30,636	$5.01M
VI Vanguard Index Fds	7.9%	Added 12%	5,728	$3.93M
IE Invesco Exchange Traded Fd T	4.2%	Unchanged	33,660	$2.06M
IT Ishares Tr	3.9%	Trimmed 8.1%	2,597	$1.95M
BO Bank Of Ny Mellon Corp	3.3%	Unchanged	11,344	$1.64M
VI Vanguard Index Fds	3.2%	Added 495%	18,416	$1.59M
IE Invesco Exchange Traded Fd T	2.8%	Added 18%	10,829	$1.4M
FC Fidelity Comwlth Tr	2.5%	Unchanged	12,248	$1.26M
MI Miami Intl Hldgs Inc	2.1%	New	28,025	$1.04M
Axsome Therapeutics Inc.	2.1%	Unchanged	4,241	$1.04M
PE Pimco ETF Tr	2.0%	Trimmed 2.0%	18,558	$976K
Broadcom Inc	1.9%	New	2,460	$929K
VI Vanguard Index Fds	1.8%	Unchanged	2,423	$886K
VE Vaneck ETF Trust	1.5%	Unchanged	15,431	$725K
SI Selective Ins Group Inc	1.2%	Unchanged	6,000	$582K
JH John Hancock Exchange Traded	1.0%	Added 8.0%	6,334	$475K
IT Ishares Tr	0.8%	Unchanged	2,189	$391K
IT Ishares Tr	0.6%	Unchanged	1,324	$301K
EL Eli Lilly & Co	0.6%	Unchanged	249	$299K
JP J P Morgan Exchange Traded F	0.6%	Unchanged	4,985	$292K
CS Cisco Sys Inc	0.6%	New	2,464	$289K
Tesla Inc	0.6%	Unchanged	683	$287K
IT Ishares Tr	0.5%	Trimmed 0.0%	3,921	$261K
IT Ishares Tr	0.5%	Added 300%	2,092	$260K
IE Invesco Exchange Traded Fd T	0.5%	New	4,255	$236K
SS Schwab Strategic Tr	0.4%	Trimmed 2.3%	8,340	$221K

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

quarter ended June 30, 2026 · filed August 19, 2026

Company	Action	Shares changed	Value of change	% of portfolio
FC Fidelity Covington Trust	Exited	−836,772	−$41.9M	—
FM Fidelity Merrimack Str Tr	Added	+30,467	+$1.38M	28.9%
VI Vanguard Index Fds	Added	+15,323	+$1.32M	3.2%
MI Miami Intl Hldgs Inc	New	+28,025	+$1.04M	2.1%
Broadcom Inc	New	+2,460	+$929K	1.9%
FC Fidelity Covington Trust	Added	+10,162	+$792K	14.1%
PE Pgim ETF Tr	Exited	−16,004	−$664K	—
FC Fidelity Covington Trust	Exited	−17,751	−$494K	—
VI Vanguard Index Fds	Added	+610	+$419K	7.9%
JP J P Morgan Exchange Traded F	Exited	−5,912	−$296K	—

Showing the 10 largest of 21 changes.

quarter ended March 31, 2026 · filed May 13, 2026

Company	Action	Shares changed	Value of change	% of portfolio
FC Fidelity Covington Trust	Trimmed	−40,624	−$2.04M	49.9%
PE Pgim ETF Tr	New	+16,004	+$664K	0.8%
FC Fidelity Covington Trust	New	+17,751	+$494K	0.6%
VE Vaneck ETF Trust	Trimmed	−7,685	−$357K	0.9%
VI Vanguard Index Fds	Trimmed	−664	−$290K	1.6%
Kroger Co	New	+2,997	+$217K	0.3%
VI Vanguard Index Fds	Trimmed	−319	−$191K	3.6%
FM Fidelity Merrimack Str Tr	Added	+3,010	+$137K	15.5%
PE Pimco ETF Tr	Trimmed	−1,285	−$67.1K	1.2%
FC Fidelity Covington Trust	Trimmed	−813	−$56.4K	6.6%

Showing the 10 largest of 14 changes.

quarter ended December 31, 2025 · filed February 09, 2026

Company	Action	Shares changed	Value of change	% of portfolio
FC Fidelity Covington Trust	Trimmed	−84,384	−$4.63M	52.8%
FM Fidelity Merrimack Str Tr	Added	+34,101	+$1.57M	14.2%
FC Fidelity Comwlth Tr	Trimmed	−3,040	−$278K	1.2%
EL Eli Lilly & Co	New	+249	+$268K	0.3%
IT Ishares Tr	Trimmed	−1,622	−$242K	5.0%
PE Pimco ETF Tr	Trimmed	−4,581	−$240K	1.2%
Home Depot Inc	Exited	−591	−$240K	—
IT Ishares Tr	Exited	−1,958	−$233K	—
Kroger Co	Exited	−2,997	−$202K	—
VI Vanguard Index Fds	Added	+303	+$190K	3.7%

Showing the 10 largest of 18 changes.

quarter ended September 30, 2025 · filed November 05, 2025

Company	Action	Shares changed	Value of change	% of portfolio
FC Fidelity Covington Trust	Added	+23,779	+$1.28M	55.3%
IT Ishares Tr	Trimmed	−1,433	−$959K	2.1%
SI Selective Ins Group Inc	Trimmed	−10,188	−$826K	0.5%
IT Ishares Tr	Trimmed	−3,076	−$448K	5.1%
FM Fidelity Merrimack Str Tr	Added	+8,162	+$377K	12.3%
IE Invesco Exchange Traded Fd T	Trimmed	−2,714	−$311K	1.1%
VI Vanguard Index Fds	Exited	−969	−$295K	—
JP J P Morgan Exchange Traded F	New	+5,797	+$293K	0.3%
PE Pimco ETF Tr	Trimmed	−5,393	−$282K	1.4%
SS Schwab Strategic Tr	New	+8,803	+$237K	0.3%

Showing the 10 largest of 16 changes.

quarter ended June 30, 2025 · filed August 14, 2025

Company	Action	Shares changed	Value of change	% of portfolio
FC Fidelity Covington Trust	Added	+296,321	+$14.3M	52.2%
FM Fidelity Merrimack Str Tr	Trimmed	−31,475	−$1.44M	12.7%
IE Invesco Exchange Traded Fd T	New	+11,858	+$1.3M	1.5%
FC Fidelity Comwlth Tr	New	+14,546	+$1.17M	1.3%
FC Fidelity Covington Trust	Added	+13,692	+$875K	5.8%
EL Eli Lilly & Co	Exited	−649	−$536K	—
IT Ishares Tr	Exited	−5,323	−$453K	—
JH John Hancock Exchange Traded	New	+7,154	+$437K	0.5%
VI Vanguard Index Fds	Added	+993	+$435K	1.6%
Apple Inc	Exited	−1,392	−$309K	—

Showing the 10 largest of 27 changes.

quarter ended March 31, 2025 · filed May 06, 2025

Company	Action	Shares changed	Value of change	% of portfolio
FC Fidelity Covington Trust	Trimmed	−1,040,286	−$41.6M	39.8%
FM Fidelity Merrimack Str Tr	Trimmed	−440,360	−$20.1M	19.2%
VS Vanguard Small Cap Value ETF	Exited	−50,296	−$9.96M	—
PE Pgim ETF Tr Actv Hy Bd ETF	Exited	−235,878	−$8.23M	—
FC Fidelity Covington Trust	Trimmed	−125,089	−$7.45M	6.0%
SS Schwab Strategic Tr Us Tips ETF	Exited	−258,085	−$6.66M	—
IT Ishares Tr	Trimmed	−44,033	−$3.75M	0.7%
PE Pimco ETF Tr	Trimmed	−52,870	−$2.73M	2.5%
JP J P Morgan Exchange Traded Fd Municipal ETF	Exited	−36,356	−$1.82M	—
VI Vanguard Index Fds	Trimmed	−5,212	−$1.31M	1.1%

Showing the 10 largest of 40 changes.

quarter ended December 31, 2024 · filed February 05, 2025

Company	Action	Shares changed	Value of change	% of portfolio
FV Fidelity Value Factor ETF	Trimmed	−632,754	−$38.1M	6.0%
IT Ishares Tr Rus Mid Cap ETF	Trimmed	−183,558	−$15.8M	2.2%
PE Pgim ETF Tr Actv Hy Bd ETF	New	+235,878	+$8.23M	4.3%
FB Fidelity Blue Chip Growth ETF	Trimmed	−89,227	−$4.12M	40.7%
SS Schwab Strategic Tr Us Tips ETF	Added	+138,993	+$3.59M	3.5%
FT Fidelity Total Bond ETF	Added	+70,980	+$3.19M	16.7%
JP J P Morgan Exchange Traded Fd Municipal ETF	New	+36,356	+$1.82M	1.0%
VS Vanguard Small Cap Value ETF	Trimmed	−3,795	−$752K	5.2%
IN Ishares New York Muni Bond ETF	New	+11,394	+$606K	0.3%
TC Tesla Inc Com	New	+706	+$285K	0.1%

Showing the 10 largest of 30 changes.

quarter ended September 30, 2024 · filed November 12, 2024

Company	Action	Shares changed	Value of change	% of portfolio
VE Vaneck ETF Trust	Trimmed	−3,176,042	−$149M	1.1%
FC Fidelity Covington Trust	Added	+28,231	+$1.71M	21.6%
FC Fidelity Covington Trust	Added	+35,181	+$1.5M	32.8%
IT Ishares Tr	Trimmed	−9,582	−$1.21M	2.5%
FM Fidelity Merrimack Str Tr	Added	+20,198	+$945K	13.0%
IT Ishares Tr	Added	+8,030	+$708K	8.9%
Apple Inc	New	+2,156	+$502K	0.2%
VI Vanguard Index Fds	Added	+2,129	+$428K	4.7%
SS Schwab Strategic Tr	Added	+7,146	+$383K	2.8%
PE Pimco ETF Tr	Trimmed	−4,639	−$246K	2.0%

Showing the 10 largest of 29 changes.

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