FIFTH THIRD BANCORP

2. Key Holdings

The portfolio is dominated by mega-cap technology companies, which occupy the top three positions and command a significant portion of the fund's assets.

• Top Position: NVIDIA Corporation (NVDA) is the largest holding at $1.86 billion, representing 5.96% of the total portfolio. Despite a reduction of $246 million (-2.5%) during the quarter, it remains the primary equity exposure.
• Mega-Cap Tech Concentration: Apple Inc (AAPL) ($1.53B, 4.90%) and Microsoft Corp (MSFT) ($1.49B, 4.76%) follow closely. Combined with NVDA, these three positions account for approximately 15.6% of the entire portfolio.
• ETF Exposure: The largest single ETF holding is the iShares Core S&P 500 ETF (IVV) at $1.15 billion (3.69%), followed by the iShares S&P 100 ETF (OEF) at $852 million. These positions provide broad market beta and liquidity.
• Financial & Communication Services: Alphabet Inc (GOOGL) ($955M) and Broadcom Inc (AVGO) ($949M) are the other notable non-ETF positions exceeding $900 million. JPMorgan Chase (JPM) is the leading financial holding at $715 million.