Cyr Financial Inc.

2. Key Holdings

The portfolio is dominated by exchange-traded funds (ETFs) and pooled investment vehicles, which comprise the vast majority of the top ten positions. Single-stock exposure is present but represents a smaller fraction of the total assets.

• Top Positions: The largest holding is PACER FDS TR at $14.45 million (9.01%), followed closely by INVESCO EXCHANGE TRADED FD T at $13.69 million (8.54%) and VANGUARD BD INDEX FDS at $12.27 million (7.65%).
• Concentration: The top four positions each hold between 7% and 9% of the portfolio, creating a relatively balanced structure without excessive reliance on a single security.
• Equity Exposure: Among individual equities, the largest positions are concentrated in the "Magnificent Seven" and other blue-chip tech giants. GE Aerospace ($1.45M), Tesla ($1.39M), and Microsoft ($1.38M) lead the equity holdings, though individual stocks generally represent less than 1% of the total portfolio each. This suggests a "core-satellite" approach where the core is broad market exposure via ETFs, supplemented by satellite positions in specific growth stocks.