SFM

MANCHESTER, NHfiles as SFM, LLC

$195m in 69 US stocks at the end of 30 June 2026. The top 10 are 62.5% of the money. It changed about 11.4% of the portfolio this quarter.

Value

$195m

Stocks

Top 10 share

62.5%

Turnover

11.4%

What changed this quarter

New

Bought for the first time this quarter.

Vanguard World FDMGC
1.5% of the fund
Ishares TRITOT
1.2% of the fund
American Centy ETF TRAVLV
1.0% of the fund
Vanguard Tax-Managed FDSVEA
0.7% of the fund
American Centy ETF TRAVDV
0.2% of the fund
Ishares TRIGV
0.2% of the fund
Eli LillyLLY
0.1% of the fund
Dimensional ETF TrustDFEV
0.1% of the fund
Advanced Micro DevicesAMD
0.1% of the fund
American Centy ETF TRAVUV
0.1% of the fund

Added

Bought more of a stock they already held.

Vanguard Index FDSVOO
22.7% of the fund
+6%
Wisdomtree TRUSFR
8.3% of the fund
+74%
Vanguard Index FDSVO
6.5% of the fund
+11%
Ishares TRIQLT
2.5% of the fund
+11%
Vanguard Malvern FDSVTIP
2.1% of the fund
+4%
Invesco Exch Traded FD TR IIQQQM
1.6% of the fund
+85%
AppleAAPL
1.4% of the fund
+3%
Vanguard Index FDSVB
1.2% of the fund
+7%
Spdr Series TrustSPYM
1.1% of the fund
+126%
Vanguard World FDMGK
0.8% of the fund
+248%

Cut

Sold some of their stake.

Ishares TRIVV
5.5% of the fund
-4%
Amazon.comAMZN
3.8% of the fund
-10%
MicrosoftMSFT
3.2% of the fund
-17%
AlphabetGOOGL
3.0% of the fund
-5%
NvidiaNVDA
2.5% of the fund
-6%
Schwab Strategic TRSCHD
2.1% of the fund
-10%
T Rowe Price Exchange-TradedTCAF
1.5% of the fund
-25%
Vanguard Index FDSVTI
1.4% of the fund
-3%
Ishares TRIJH
1.2% of the fund
-4%
Berkshire HathawayBRK-B
1.2% of the fund
-16%
MastercardMA
1.1% of the fund
-14%
Vanguard Index FDSVUG
1.0% of the fund
-5%
VisaV
1.0% of the fund
-24%
Meta PlatformsMETA
0.9% of the fund
-30%
Invesco Exchange Traded FD TXSVM
0.6% of the fund
-17%
State STR Spdr S&P Midcap 40MDY
0.6% of the fund
-2%
Sherwin-WilliamsSHW
0.6% of the fund
-18%
Home DepotHD
0.5% of the fund
-19%
Republic ServicesRSG
0.5% of the fund
-30%
StrykerSYK
0.5% of the fund
-22%
AutozoneAZO
0.4% of the fund
-26%
LindeLIN
0.4% of the fund
-11%
Ishares TRIJR
0.4% of the fund
-3%
Arthur J. GallagherAJG
0.3% of the fund
-41%
S&P GlobalSPGI
0.3% of the fund
-18%

Sold out

Sold their entire stake.

IntuitINTU
-100%
ProgressivePGR
-100%
Vaneck ETF TrustGDX
-100%
Agnico Eagle MinesAEM
-100%

Holdings

Vanguard Index FDSVOO
Share
22.7%
Value
$44m
Shares
64,334
+6%
Wisdomtree TRUSFR
Share
8.3%
Value
$16m
Shares
320,992
+74%
Vanguard Index FDSVO
Share
6.5%
Value
$13m
Shares
157,364
+11%
Ishares TRIVV
Share
5.5%
Value
$11m
Shares
14,296
-4%
Ishares Gold Trust MicroIAUM
Share
4.5%
Value
$9m
Shares
220,012
Held
Amazon.comAMZN
Share
3.8%
Value
$7m
Shares
30,895
-10%
MicrosoftMSFT
Share
3.2%
Value
$6m
Shares
16,972
-17%
AlphabetGOOGL
Share
3.0%
Value
$6m
Shares
16,450
-5%
NvidiaNVDA
Share
2.5%
Value
$5m
Shares
24,743
-6%
Ishares TRIQLT
Share
2.5%
Value
$5m
Shares
97,261
+11%
Vanguard Malvern FDSVTIP
Share
2.1%
Value
$4m
Shares
83,134
+4%
Schwab Strategic TRSCHD
Share
2.1%
Value
$4m
Shares
127,787
-10%
Invesco Exch Traded FD TR IIQQQM
Share
1.6%
Value
$3m
Shares
10,299
+85%
Vanguard World FDMGC
Share
1.5%
Value
$3m
Shares
10,870
New
T Rowe Price Exchange-TradedTCAF
Share
1.5%
Value
$3m
Shares
69,764
-25%
AppleAAPL
Share
1.4%
Value
$3m
Shares
9,666
+3%
AlphabetGOOG
Share
1.4%
Value
$3m
Shares
7,571
Held
Vanguard Index FDSVTI
Share
1.4%
Value
$3m
Shares
7,120
-3%
Invesco QQQ TRQQQ
Share
1.3%
Value
$3m
Shares
3,475
Held
Ishares TRITOT
Share
1.2%
Value
$2m
Shares
14,284
New
Ishares TRIJH
Share
1.2%
Value
$2m
Shares
30,393
-4%
Berkshire HathawayBRK-B
Share
1.2%
Value
$2m
Shares
4,673
-16%
Vanguard Index FDSVB
Share
1.2%
Value
$2m
Shares
7,673
+7%
Spdr Series TrustSPYM
Share
1.1%
Value
$2m
Shares
25,432
+126%
MastercardMA
Share
1.1%
Value
$2m
Shares
4,071
-14%
Vanguard Index FDSVUG
Share
1.0%
Value
$2m
Shares
22,662
-5%
American Centy ETF TRAVLV
Share
1.0%
Value
$2m
Shares
20,816
New
VisaV
Share
1.0%
Value
$2m
Shares
5,509
-24%
Meta PlatformsMETA
Share
0.9%
Value
$2m
Shares
3,236
-30%
Vanguard World FDMGK
Share
0.8%
Value
$2m
Shares
18,445
+248%
Vanguard Tax-Managed FDSVEA
Share
0.7%
Value
$1m
Shares
18,590
New
Invesco Exchange Traded FD TXSVM
Share
0.6%
Value
$1m
Shares
17,617
-17%
State STR Spdr S&P Midcap 40MDY
Share
0.6%
Value
$1m
Shares
1,728
-2%
Sherwin-WilliamsSHW
Share
0.6%
Value
$1m
Shares
3,436
-18%
Vanguard World FDESGV
Share
0.6%
Value
$1m
Shares
8,862
Held
Home DepotHD
Share
0.5%
Value
$1m
Shares
3,029
-19%
Republic ServicesRSG
Share
0.5%
Value
$1m
Shares
4,964
-30%
State STR Spdr S&P 500 ETF TSPY
Share
0.5%
Value
$1m
Shares
1,401
Held
StrykerSYK
Share
0.5%
Value
$978,415
Shares
3,108
-22%
Invesco Exchange Traded FD TRSP
Share
0.5%
Value
$945,416
Shares
4,443
Held
AutozoneAZO
Share
0.4%
Value
$869,296
Shares
272
-26%
LindeLIN
Share
0.4%
Value
$759,249
Shares
1,463
-11%
Ishares TRIJR
Share
0.4%
Value
$753,266
Shares
5,079
-3%
Costco WholesaleCOST
Share
0.3%
Value
$638,310
Shares
682
Held
Arthur J. GallagherAJG
Share
0.3%
Value
$619,973
Shares
2,701
-41%
S&P GlobalSPGI
Share
0.3%
Value
$523,770
Shares
1,286
-18%
American Centy ETF TRAVDV
Share
0.2%
Value
$485,159
Shares
4,708
New
General ElectricGE
Share
0.2%
Value
$474,597
Shares
1,270
-23%
Spdr Series TrustSPMD
Share
0.2%
Value
$438,937
Shares
6,497
Held
Analog DevicesADI
Share
0.2%
Value
$428,944
Shares
1,080
Held
Vanguard World FDVGT
Share
0.2%
Value
$394,894
Shares
3,304
Held
Ishares TRIGV
Share
0.2%
Value
$381,064
Shares
4,206
New
BroadcomAVGO
Share
0.2%
Value
$373,180
Shares
988
-23%
TeslaTSLA
Share
0.2%
Value
$329,330
Shares
783
-32%
Ishares Gold TRIAU
Share
0.2%
Value
$323,485
Shares
4,284
Held
Bluerock Private Real Estate FundBPRE
Share
0.2%
Value
$317,393
Shares
24,396
-3%
Brown & BrownBRO
Share
0.2%
Value
$309,809
Shares
4,829
-47%
Nushares ETF TRNULG
Share
0.2%
Value
$307,985
Shares
2,631
Held
Invesco Exch Traded FD TR IIQQMG
Share
0.1%
Value
$288,579
Shares
5,633
-4%
Eli LillyLLY
Share
0.1%
Value
$250,103
Shares
209
New
Dimensional ETF TrustDFEV
Share
0.1%
Value
$246,147
Shares
5,769
New
Global X FDSSIL
Share
0.1%
Value
$234,471
Shares
3,027
Held
Advanced Micro DevicesAMD
Share
0.1%
Value
$225,974
Shares
389
New
Vanguard MUN BD FDSVTEB
Share
0.1%
Value
$223,867
Shares
4,426
Held
Amplify ETF TRSILJ
Share
0.1%
Value
$220,761
Shares
8,517
Held
JPMorgan ChaseJPM
Share
0.1%
Value
$212,576
Shares
649
-27%
American Centy ETF TRAVUV
Share
0.1%
Value
$207,975
Shares
1,667
New
ServiceNowNOW
Share
0.1%
Value
$207,793
Shares
2,093
-71%
ExxonMobil HoldingsXOM
Share
0.1%
Value
$204,944
Shares
1,499
Held

Company	Share of fund	Value	Shares	Change
Vanguard Index FDSVOO	22.7%	$44m	64,334	+6%
Wisdomtree TRUSFR	8.3%	$16m	320,992	+74%
Vanguard Index FDSVO	6.5%	$13m	157,364	+11%
Ishares TRIVV	5.5%	$11m	14,296	-4%
Ishares Gold Trust MicroIAUM	4.5%	$9m	220,012	Held
Amazon.comAMZN	3.8%	$7m	30,895	-10%
MicrosoftMSFT	3.2%	$6m	16,972	-17%
AlphabetGOOGL	3.0%	$6m	16,450	-5%
NvidiaNVDA	2.5%	$5m	24,743	-6%
Ishares TRIQLT	2.5%	$5m	97,261	+11%
Vanguard Malvern FDSVTIP	2.1%	$4m	83,134	+4%
Schwab Strategic TRSCHD	2.1%	$4m	127,787	-10%
Invesco Exch Traded FD TR IIQQQM	1.6%	$3m	10,299	+85%
Vanguard World FDMGC	1.5%	$3m	10,870	New
T Rowe Price Exchange-TradedTCAF	1.5%	$3m	69,764	-25%
AppleAAPL	1.4%	$3m	9,666	+3%
AlphabetGOOG	1.4%	$3m	7,571	Held
Vanguard Index FDSVTI	1.4%	$3m	7,120	-3%
Invesco QQQ TRQQQ	1.3%	$3m	3,475	Held
Ishares TRITOT	1.2%	$2m	14,284	New
Ishares TRIJH	1.2%	$2m	30,393	-4%
Berkshire HathawayBRK-B	1.2%	$2m	4,673	-16%
Vanguard Index FDSVB	1.2%	$2m	7,673	+7%
Spdr Series TrustSPYM	1.1%	$2m	25,432	+126%
MastercardMA	1.1%	$2m	4,071	-14%
Vanguard Index FDSVUG	1.0%	$2m	22,662	-5%
American Centy ETF TRAVLV	1.0%	$2m	20,816	New
VisaV	1.0%	$2m	5,509	-24%
Meta PlatformsMETA	0.9%	$2m	3,236	-30%
Vanguard World FDMGK	0.8%	$2m	18,445	+248%
Vanguard Tax-Managed FDSVEA	0.7%	$1m	18,590	New
Invesco Exchange Traded FD TXSVM	0.6%	$1m	17,617	-17%
State STR Spdr S&P Midcap 40MDY	0.6%	$1m	1,728	-2%
Sherwin-WilliamsSHW	0.6%	$1m	3,436	-18%
Vanguard World FDESGV	0.6%	$1m	8,862	Held
Home DepotHD	0.5%	$1m	3,029	-19%
Republic ServicesRSG	0.5%	$1m	4,964	-30%
State STR Spdr S&P 500 ETF TSPY	0.5%	$1m	1,401	Held
StrykerSYK	0.5%	$978,415	3,108	-22%
Invesco Exchange Traded FD TRSP	0.5%	$945,416	4,443	Held
AutozoneAZO	0.4%	$869,296	272	-26%
LindeLIN	0.4%	$759,249	1,463	-11%
Ishares TRIJR	0.4%	$753,266	5,079	-3%
Costco WholesaleCOST	0.3%	$638,310	682	Held
Arthur J. GallagherAJG	0.3%	$619,973	2,701	-41%
S&P GlobalSPGI	0.3%	$523,770	1,286	-18%
American Centy ETF TRAVDV	0.2%	$485,159	4,708	New
General ElectricGE	0.2%	$474,597	1,270	-23%
Spdr Series TrustSPMD	0.2%	$438,937	6,497	Held
Analog DevicesADI	0.2%	$428,944	1,080	Held
Vanguard World FDVGT	0.2%	$394,894	3,304	Held
Ishares TRIGV	0.2%	$381,064	4,206	New
BroadcomAVGO	0.2%	$373,180	988	-23%
TeslaTSLA	0.2%	$329,330	783	-32%
Ishares Gold TRIAU	0.2%	$323,485	4,284	Held
Bluerock Private Real Estate FundBPRE	0.2%	$317,393	24,396	-3%
Brown & BrownBRO	0.2%	$309,809	4,829	-47%
Nushares ETF TRNULG	0.2%	$307,985	2,631	Held
Invesco Exch Traded FD TR IIQQMG	0.1%	$288,579	5,633	-4%
Eli LillyLLY	0.1%	$250,103	209	New
Dimensional ETF TrustDFEV	0.1%	$246,147	5,769	New
Global X FDSSIL	0.1%	$234,471	3,027	Held
Advanced Micro DevicesAMD	0.1%	$225,974	389	New
Vanguard MUN BD FDSVTEB	0.1%	$223,867	4,426	Held
Amplify ETF TRSILJ	0.1%	$220,761	8,517	Held
JPMorgan ChaseJPM	0.1%	$212,576	649	-27%
American Centy ETF TRAVUV	0.1%	$207,975	1,667	New
ServiceNowNOW	0.1%	$207,793	2,093	-71%
ExxonMobil HoldingsXOM	0.1%	$204,944	1,499	Held

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 25.2% since 30 June 2025.

Where the money is

Technology7.9%

Media & telecom5.3%

Retail & consumer4.9%

Financial services4.1%

Materials1.0%

Industrials0.8%

Health care0.6%

Everyday goods0.3%

Energy0.1%

Other75.0%

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.