JACOBSON & SCHMITT ADVISORS, LLC

Despite this substantial growth, the firm maintains a relatively concentrated portfolio of 72 holdings. The portfolio structure is a hybrid model, blending active stock selection with passive ETF exposure. The allocation is heavily skewed toward individual equities, which make up the majority of the top holdings, while ETFs are utilized strategically, likely for liquidity, duration management, or specific sector exposure (particularly fixed income). The turnover was exceptionally high this quarter, with 22 new positions initiated and **10 positions sold completely, indicating an active reallocation of the new capital into specific convictions.

Key Holdings

The top 10 holdings account for approximately 38% of the total portfolio value, suggesting a conviction-based approach to the largest allocations.