Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
22
Top-10 weight
99.81%
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.
7
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.
188.3
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | ALLSP-MUN BD-INS | — | 3,235,262 | $31.19M | 21.93% |
| 2 | NVN-H/Y MUN-I | — | 1,798,756 | $25.38M | 17.85% |
| 3 | FRST AM-GV OB-X | TMPXX | 23,112,133 | $23.11M | 16.25% |
| 4 | PIMCO-HY MUNI-I | — | 2,740,696 | $22.80M | 16.04% |
| 5 | RIC-T/E HI Y-S | — | 1,186,105 | $11.37M | 8.00% |
| 6 | AF-H/I MUN-F3 | — | 726,292 | $11.04M | 7.76% |
| 7 | NVN-SH DUR HY-I | — | 716,668 | $6.69M | 4.71% |
| 8 | FIRST TRUST MUNI | — | 116,300 | $5.53M | 3.89% |
| 9 | Franklin Dynamic Municipal Bond ETF | — | 178,400 | $4.42M | 3.11% |
| 10 | BLKR-NTL MUN-INS | — | 9,339 | $92.46K | 0.07% |
| 11 | NT-INT T/E | — | 4,629 | $45.46K | 0.03% |
| 12 | FIRST EAGLE HIGH YIELD-I | — | 5,440 | $43.14K | 0.03% |
| 13 | BLRK-STR MUN-I | — | 3,827 | $39.38K | 0.03% |
| 14 | CNR-NATL ROCH-SV | — | 3,911 | $35.98K | 0.03% |
| 15 | NVN-CA MUNI-I | — | 2,323 | $22.99K | 0.02% |
| 16 | AC-H/Y MUNI-I | — | 2,115 | $18.28K | 0.01% |
| 17 | PTNM ST IN MUN-Y | — | 1,017 | $14.28K | 0.01% |
| 18 | NVN-L/T MUNI-I | — | 833 | $9.08K | 0.01% |
| 19 | NVN-CA H/Y-I | — | 1,169 | $9.03K | 0.01% |
| 20 | BLKR-LI MUNI-INS | MCSXX | 8,907 | $8.91K | 0.01% |
| 21 | ALLSP-CA T/F-INS | — | 798 | $8.26K | 0.01% |
| 22 | NVV-INT DUR-I | — | 879 | $7.75K | 0.01% |
| 23 | FRST AM-GV OB-X | TMPXX | 0 | $0 | 0.00% |
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.