Praetorian Wealth Management, Inc.

The portfolio currently consists of 74 holdings, indicating a diversified approach. The manager has shifted from a potentially more concentrated or distinct strategy to a highly structured, "core-satellite" architecture built predominantly around exchange-traded funds (ETFs). The turnover rate for this quarter was exceptionally high, characterized by a complete overhaul of the portfolio's composition, with 31 new positions initiated and 8 positions sold. Notably, zero positions remained unchanged, signaling a strategic pivot or the implementation of a new model portfolio.

Key Holdings

The portfolio is heavily concentrated in top-tier ETFs that track broad market indices and specific factor tilts. The top ten holdings account for approximately 60% of the total portfolio value, suggesting a core-heavy allocation strategy.