Goodwin Investment Advisory

WOODSTOCK, GA

$50m in 28 US stocks at the end of 30 June 2026. The top 10 are 80.9% of the money. It changed about 51.9% of the portfolio this quarter.

Value

$50m

Stocks

Top 10 share

80.9%

Turnover

51.9%

What changed this quarter

New

Bought for the first time this quarter.

Miami International HoldingsMIAX
2.1% of the fund
BroadcomAVGO
1.9% of the fund
Cisco SystemsCSCO
0.6% of the fund
Invesco Exchange Traded FD TPFM
0.5% of the fund

Added

Bought more of a stock they already held.

Fidelity Merrimack STR TRFBND
28.9% of the fund
+11%
Fidelity Covington TrustFVAL
14.1% of the fund
+13%
Vanguard Index FDSVOO
7.9% of the fund
+12%
Invesco Exchange Traded FD TEQWL
2.8% of the fund
+18%
John Hancock Exchange TradedJHMM
1.0% of the fund
+8%

Cut

Sold some of their stake.

Ishares TRIVV
3.9% of the fund
-8%
Pimco ETF TRMUNI
2.0% of the fund
-2%
Schwab Strategic TRSCHP
0.4% of the fund
-2%

Sold out

Sold their entire stake.

Fidelity Covington TrustFBCG
-100%
Pgim ETF TRPTRB
-100%
Fidelity Covington TrustFFLG
-100%
J P Morgan Exchange Traded FJMUB
-100%
KrogerKR
-100%

Holdings

Fidelity Merrimack STR TRFBND
Share
28.9%
Value
$14m
Shares
315,244
+11%
Fidelity Covington TrustFVAL
Share
14.1%
Value
$7m
Shares
89,747
+13%
Ishares TRESGU
Share
10.1%
Value
$5m
Shares
30,636
Held
Vanguard Index FDSVOO
Share
7.9%
Value
$4m
Shares
5,728
+12%
Invesco Exchange Traded FD TXLG
Share
4.2%
Value
$2m
Shares
33,660
Held
Ishares TRIVV
Share
3.9%
Value
$2m
Shares
2,597
-8%
Bank of New York MellonBNY
Share
3.3%
Value
$2m
Shares
11,344
Held
Vanguard Index FDSVUG
Share
3.2%
Value
$2m
Shares
18,416
Held
Invesco Exchange Traded FD TEQWL
Share
2.8%
Value
$1m
Shares
10,829
+18%
Fidelity Comwlth TRONEQ
Share
2.5%
Value
$1m
Shares
12,248
Held
Miami International HoldingsMIAX
Share
2.1%
Value
$1m
Shares
28,025
New
Axsome TherapeuticsAXSM
Share
2.1%
Value
$1m
Shares
4,241
Held
Pimco ETF TRMUNI
Share
2.0%
Value
$976,181
Shares
18,558
-2%
BroadcomAVGO
Share
1.9%
Value
$929,265
Shares
2,460
New
Vanguard Index FDSVBK
Share
1.8%
Value
$886,145
Shares
2,423
Held
Vaneck ETF TrustITM
Share
1.5%
Value
$725,102
Shares
15,431
Held
Selective Insurance GroupSIGI
Share
1.2%
Value
$582,060
Shares
6,000
Held
John Hancock Exchange TradedJHMM
Share
1.0%
Value
$474,795
Shares
6,334
+8%
Ishares TRIJT
Share
0.8%
Value
$390,955
Shares
2,189
Held
Ishares TRIVE
Share
0.6%
Value
$300,627
Shares
1,324
Held
Eli LillyLLY
Share
0.6%
Value
$298,658
Shares
249
Held
J P Morgan Exchange Traded FJVAL
Share
0.6%
Value
$292,320
Shares
4,985
Held
Cisco SystemsCSCO
Share
0.6%
Value
$289,421
Shares
2,464
New
TeslaTSLA
Share
0.6%
Value
$287,269
Shares
683
Held
Ishares TRUSRT
Share
0.5%
Value
$260,600
Shares
3,921
Held
Ishares TRIWF
Share
0.5%
Value
$259,763
Shares
2,092
Held
Invesco Exchange Traded FD TPFM
Share
0.5%
Value
$235,958
Shares
4,255
New
Schwab Strategic TRSCHP
Share
0.4%
Value
$221,010
Shares
8,340
-2%

Company	Share of fund	Value	Shares	Change
Fidelity Merrimack STR TRFBND	28.9%	$14m	315,244	+11%
Fidelity Covington TrustFVAL	14.1%	$7m	89,747	+13%
Ishares TRESGU	10.1%	$5m	30,636	Held
Vanguard Index FDSVOO	7.9%	$4m	5,728	+12%
Invesco Exchange Traded FD TXLG	4.2%	$2m	33,660	Held
Ishares TRIVV	3.9%	$2m	2,597	-8%
Bank of New York MellonBNY	3.3%	$2m	11,344	Held
Vanguard Index FDSVUG	3.2%	$2m	18,416	Held
Invesco Exchange Traded FD TEQWL	2.8%	$1m	10,829	+18%
Fidelity Comwlth TRONEQ	2.5%	$1m	12,248	Held
Miami International HoldingsMIAX	2.1%	$1m	28,025	New
Axsome TherapeuticsAXSM	2.1%	$1m	4,241	Held
Pimco ETF TRMUNI	2.0%	$976,181	18,558	-2%
BroadcomAVGO	1.9%	$929,265	2,460	New
Vanguard Index FDSVBK	1.8%	$886,145	2,423	Held
Vaneck ETF TrustITM	1.5%	$725,102	15,431	Held
Selective Insurance GroupSIGI	1.2%	$582,060	6,000	Held
John Hancock Exchange TradedJHMM	1.0%	$474,795	6,334	+8%
Ishares TRIJT	0.8%	$390,955	2,189	Held
Ishares TRIVE	0.6%	$300,627	1,324	Held
Eli LillyLLY	0.6%	$298,658	249	Held
J P Morgan Exchange Traded FJVAL	0.6%	$292,320	4,985	Held
Cisco SystemsCSCO	0.6%	$289,421	2,464	New
TeslaTSLA	0.6%	$287,269	683	Held
Ishares TRUSRT	0.5%	$260,600	3,921	Held
Ishares TRIWF	0.5%	$259,763	2,092	Held
Invesco Exchange Traded FD TPFM	0.5%	$235,958	4,255	New
Schwab Strategic TRSCHP	0.4%	$221,010	8,340	-2%

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is down 42.7% since 30 June 2025.

Where the money is

Financial services6.6%

Health care2.7%

Technology2.5%

Retail & consumer0.6%

Other87.7%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.