Clark Capital Management Group, Inc.

Note on interpretation: 13F data exclude non-13F-eligible instruments (e.g., many OTC/security types, shorts, cash), and the filing shows an unusually large “Unknown” sector bucket ($1.20B), which limits full transparency of sector exposures.

Key Holdings and Their Significance

• SPYM (SPDR Series Trust ETF) — $600.97M (7.86%): Largest single position and the largest ETF holding. At nearly 8% of the portfolio, this ETF materially drives portfolio-level equity-market exposure and style exposure embedded in that ETF’s underlying index.
• NVDA (NVIDIA) — $366.72M (4.79%): Largest individual technology equity holding; even after a reduction this quarter it remains a top-5 position, providing substantial exposure to AI/semiconductor leadership.
• JNK (SPDR High Yield Bond ETF) — $341.43M (4.46%): Significant allocation to high-yield credit via an ETF; combined with SJNK ($74.78M) this creates ~5.4% exposure to high-yield ETFs.
• GOOGL (Alphabet) — $327.25M (4.28%): A top-5 growth/communication-services holding and the single largest increase this quarter (+22.1%, +$132.9M), signaling a sizable incremental bet within mega-cap internet.
• JPM ($274.40M, 3.59%) plus multiple other financials (GS, V, BLK, PLD, BBVA, Banco Santander, SMFG, etc.) — Financials represent a major cluster and together form a material portion of the portfolio.