Portfolio concentration
As of December 31, 2025 · N-PORT
Holdings
1736
Top-10 weight
25.13%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
46
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
27.3
Holdings
As of December 31, 2025 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | Vanguard Scottsdale Funds INTERMEDIATE-TERM TREASURY | VGIT | 540,908 | $32.42M | 12.50% |
| 2 | SS INST TREAS PLUS MM FUN | — | 22,564,755 | $22.56M | 8.70% |
| 3 | ISHARES US TREASURY BOND ETF | GOVT | 260,765 | $6.00M | 2.32% |
| 4 | FNCL 2 1/26 | — | 2,475,000 | $2.00M | 0.77% |
| 5 | FNCL 6 1/26 | — | 1,450,000 | $1.49M | 0.57% |
| 6 | FNCL 2.5 1/26 | — | 1,725,000 | $1.46M | 0.56% |
| 7 | FNCL 5.5 1/26 | — | 1,150,000 | $1.17M | 0.45% |
| 8 | FNCL 3 1/26 | — | 1,200,000 | $1.06M | 0.41% |
| 9 | G2 MA7704 | — | 1,036,853 | $858.76K | 0.33% |
| 10 | FNCL 4 1/26 | — | 800,000 | $758.62K | 0.29% |
| 11 | G2SF 5 1/26 | — | 725,000 | $723.05K | 0.28% |
| 12 | FNCL 4.5 1/26 | — | 700,000 | $683.10K | 0.26% |
| 13 | G2SF 3 1/26 | — | 700,000 | $629.78K | 0.24% |
| 14 | G2 MB0025 | — | 614,755 | $613.53K | 0.24% |
| 15 | G2 MB0742 | — | 666,769 | $607.31K | 0.23% |
| 16 | G2SF 6 1/25 | — | 575,000 | $585.78K | 0.23% |
| 17 | Government National Mortgage Association, TBA | GNR | 675,000 | $582.61K | 0.22% |
| 18 | G2 MB0090 | — | 579,001 | $564.89K | 0.22% |
| 19 | G2 MA8428 | — | 560,602 | $563.93K | 0.22% |
| 20 | Uniform Mortgage-Backed Security, TBA | FNCI | 550,000 | $556.90K | 0.21% |
| 21 | FNCL 5 1/26 | — | 550,000 | $548.65K | 0.21% |
| 22 | G2 MA7589 | — | 634,601 | $548.18K | 0.21% |
| 23 | G2 MA7417 | — | 657,574 | $544.82K | 0.21% |
| 24 | G2SF 4 1/26 | — | 575,000 | $543.11K | 0.21% |
| 25 | Freddie Mac Pool | — | 510,506 | $520.59K | 0.20% |
| 26 | FNCL 6.5 1/26 | — | 500,000 | $519.63K | 0.20% |
| 27 | FNCI 2 1/26 | — | 550,000 | $509.29K | 0.20% |
| 28 | Federal National Mortgage Association, Inc. | — | 481,891 | $506.32K | 0.20% |
| 29 | FEDERAL HOME LOAN MORTGAGE CORPORATION | — | 475,416 | $490.04K | 0.19% |
| 30 | FNMA POOL CB7651 FN 12/53 FIXED 6.5 | — | 461,849 | $486.52K | 0.19% |
| 31 | FNCL 3.5 1/26 | — | 525,000 | $485.50K | 0.19% |
| 32 | Uniform Mortgage-Backed Security, TBA | FNMA | 625,000 | $482.30K | 0.19% |
| 33 | G2SF 3.5 1/26 | — | 525,000 | $477.75K | 0.18% |
| 34 | G2 MA8877 | — | 483,333 | $473.90K | 0.18% |
| 35 | G2 MB0092 | — | 454,147 | $459.20K | 0.18% |
| 36 | FR SD8214 | — | 468,969 | $435.00K | 0.17% |
| 37 | FR SD6764 | FHLMC | 435,858 | $434.95K | 0.17% |
| 38 | FNMA UMBS, 30 Year | — | 417,768 | $434.01K | 0.17% |
| 39 | G2 MB0145 | — | 436,096 | $425.11K | 0.16% |
| 40 | UMBS | — | 433,836 | $423.73K | 0.16% |
| 41 | G2 MB0146 | — | 424,576 | $423.73K | 0.16% |
| 42 | FN CB9309 | — | 421,433 | $422.00K | 0.16% |
| 43 | FN MA5585 | — | 421,579 | $420.70K | 0.16% |
| 44 | Freddie Mac Pool | — | 409,439 | $420.28K | 0.16% |
| 45 | UMBS | — | 430,479 | $420.23K | 0.16% |
| 46 | FR SD8505 | — | 420,023 | $419.15K | 0.16% |
| 47 | FR SD8491 | — | 418,383 | $417.78K | 0.16% |
| 48 | Federal National Mortgage Association, Inc. | — | 395,261 | $411.84K | 0.16% |
| 49 | FN MA5107 | — | 403,068 | $409.83K | 0.16% |
| 50 | Federal National Mortgage Association, Inc. | — | 398,635 | $408.99K | 0.16% |
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