Physician Wealth Advisors, Inc.

2. Key Holdings

The portfolio is dominated by large-cap, broad-market U.S. equity ETFs. The top position is IVV (iShares Core S&P 500), which constitutes 13.00% of the portfolio ($93.41M). This significant allocation suggests a strong anchoring in the U.S. large-cap market.

The subsequent top positions reveal a preference for specific investment styles and factors:

• SPYM (SPDR Portfolio S&P 1500) and DYNF (BlackRock Future Factor) are the second and third holdings, at 4.64% and 4.41%, respectively.
• IVE (iShares S&P 500 Value) saw a massive increase this quarter (detailed below) to become the fourth largest holding at 4.20%, indicating a tilt toward value stocks.
• DFAI (Dimensional International ETF) and DFAE (Dimensional Emerging Markets) represent the firm's international exposure, rounding out the top 10 with allocations of 4.03% and 3.37%, respectively.