Waycross Investment Management Co

Key Holdings

The portfolio is dominated by large, liquid ETFs, which form the core of the investment strategy.

• Top Position: The largest holding is ISHARES TR (Value: $20.37M), accounting for 17.91% of the portfolio. This massive new position (942K shares) indicates a strong conviction in this specific fund, likely representing a broad market or fixed income allocation given the manager's style.
• International Exposure: The IEFA (iShares Core MSCI EAFE) ETF is the second-largest holding at $11.15M (9.81%). The manager increased this stake slightly, reinforcing a commitment to international developed markets.
• Factor & Sector ETFs: The firm utilizes sophisticated ETF strategies, holding DUHP (Dimensional US High Profitability ETF) at 6.41%, alongside Invesco S&P 500 Equal Weight funds (BSCU and BSCV), which combined represent over 11% of the portfolio. This suggests a preference for factor investing (profitability, equal weight) rather than traditional market-cap weighting.
• Concentrated Stock Picks: Outside of ETFs, the most significant individual stock holding is First Citizens Bancshares (FCNCA) at $6.65M (5.85%). This is a notable new position, representing a large bet on the regional banking sector. Other major individual holdings include Alphabet (GOOG) and Microsoft (MSFT), both standard mega-cap technology positions.