Kellett Wealth Advisors, LLC

2. Key Holdings

The portfolio is heavily concentrated in its top positions, with the top three holdings comprising roughly 43% of the total assets.

• SPDR S&P 500 ETF Trust (SPY): This is the dominant position, valued at $38.24 million (21.84% of the portfolio). A marginal increase of 0.9% suggests this is a static core holding used for broad beta exposure rather than an active trading vehicle.
• Innovator ETFs Trust: Aggregating the various Innovator positions (items 2, 13, 15, 17, and 29) reveals a significant allocation of approximately $31.68 million (18.1%). These funds typically employ defined-outcome strategies or buffered ETFs, suggesting a strong focus on capital preservation or risk-managed equity exposure.
• iShares Trust & Invesco QQQ Trust: The firm allocated $13.90 million to a major iShares ETF and $9.07 million to the QQQ Trust. These positions, combined with SPY, indicate a strong preference for liquid, large-cap equity exposure.
• Procter & Gamble (PG): As the largest individual equity holding ($7.77M, 4.44%), PG anchors the portfolio with a defensive consumer staple name, likely serving as a ballast against volatility.