Portfolio Strategies, Inc.

Portfolio Strategies Inc.'s $0.81B, 75-name 13F is implemented through iShares sector-and-factor ETFs — IXN (11.3%, tech infrastructure), MGK (10.7%, S&P 500 growth), IYW (8.8%, tech software), SMH (7.7%, semiconductors), IWY (7.6%, Russell top 200 growth) — occupying the top five positions and approximately 60%+ of AUM in sector-and-factor ETF vehicles. Q1 initiations (QQQ, AIRR, XAR, JPM, WMT) span large-cap growth, aerospace-and-defense, aerospace, a single financial name, and a single consumer name — mixed ETF-and-single-stock additions confirming the fund operates at vehicle selection. With 75 holdings and whaleScore of 66.25 reflecting sector-ETF concentration, this entity should be classified passive_index.