Skyline Advisors, Inc.

The portfolio currently holds 104 positions, indicating a high level of diversification. The turnover rate was exceptionally high this quarter, characterized by a "clean sweep" approach where zero positions remained unchanged. The manager initiated 28 new positions and exited 22 positions, while adjusting the remaining holdings. This high level of activity indicates a dynamic rebalancing effort, likely aiming to align the portfolio with a new core investment mandate or risk profile.

2. Key Holdings

The portfolio is heavily concentrated in Exchange Traded Funds (ETFs), with individual stocks playing a secondary, though specific, role. The top 10 holdings account for approximately 66% of the total portfolio value, suggesting a "core-satellite" approach where the bulk of capital is tracked in broad indices, with smaller allocations to specific alpha-generators.