Highland Financial Advisors, LLC

Key Holdings

The portfolio is dominated by large-cap and factor-based ETFs, with the top ten positions accounting for nearly 76% of the total portfolio value.

• Top Positions: The largest holding is SPYM (SPDR Portfolio S&P 500 Growth ETF) at $40.78M (11.31%), followed closely by QQQM (Invesco NASDAQ-100 ETF) at $37.11M (10.29%). These two positions indicate a strong tilt toward U.S. large-cap growth and technology exposure.
• Factor Exposure: A significant portion of the portfolio is allocated to "Avantis" and "Dimensional" ETFs (e.g., DFAU, AVUS, AVUV), which are known for smart beta and factor investing strategies (such as value, profitability, and size). Specifically, DFAU and AVUS represent roughly 9.66% and 9.61% of the portfolio, respectively.
• Individual Equities: Direct stock holdings are minimal relative to the ETF allocation. The largest individual stock holding is Apple Inc. (AAPL) at $1.91M (0.53%), followed by JPMorgan Chase & Co. (JPM) at $1.50M. Major technology names like Microsoft, Nvidia, Tesla, and Meta are present but represent negligible weights (each less than 0.20%), likely acquired through the ETF holdings rather than as distinct active picks.