Harpswell Capital Advisors, LLC

Key Holdings

• CGDV (CAPITAL GROUP DIVIDEND VALUE) — $7.25M, 172k shares, 32.33% of portfolio. This is the single largest exposure and represents nearly one-third of the entire reported portfolio.
• CGGR (CAPITAL GROUP GROWTH ETF) — $5.80M, 132k shares, 25.87% of portfolio. Combined with CGDV, the two Capital Group ETFs represent $13.05M or 58.2% of assets.
• CATH (GLOBAL X FDS) — $1.85M, 23k shares, 8.23% of portfolio.
• XBI (SPDR SERIES TRUST) — $1.68M, 17k shares, 7.49% of portfolio.
• INDA (ISHARES TR) — $1.67M, 32k shares, 7.43% of portfolio.
• Remaining ETF positions range from $870K down to $243K; three small direct/sector positions (Utilities, Financial Services, and Clipper Realty) total about $305K (≈1.4% of assets).

Significance:

• Very large concentration in Capital Group-branded ETFs: CGDV + CGGR + CGDG = $13.40M (≈59.8% of portfolio), indicating the manager’s core exposures are implemented through that sponsor’s products.
• Secondary exposures are to thematic/sector/region ETFs (CATH, XBI, INDA) each in the 7–8% range, suggesting targeted tilts rather than broad diversification across many active equity names.
• Direct single-stock or small-cap real asset holdings are de minimis relative to ETF allocations.