Institutional Manager · CIK 0001329948

Janney Montgomery Scott LLC

PHILADELPHIA, PA · File #028-11413

Latest AUM

$43.6M

Positions

2,909

Top-10 Concentration

41.4%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	ST STR TECH SEL SPDR ETF	81369Y803	+2,065,314	+$297,343	-$327,972
REDUCE	ISHS EXP TECH SECTOR ETF	464287549	-878,482	-$113,465	+$6,145
ADD	NETFLIX INC	NFLX	+1,179,277	+$110,569	-$96,618
REDUCE	ISHS MSCI USA QLTY ETF	46432F339	-503,204	-$99,946	+$5,561
ADD	ST STR FINL SEL SCTR ETF	81369Y605	+1,812,354	+$99,263	+$6,626
ADD	ISHS BIOTECH ETF	464287556	+588,124	+$99,258	+$767
ADD	ISHS CORE SP SMCP ETF	464287804	+777,025	+$93,383	+$1,052
ADD	ISHS SP 500 VALUE ETF	464287408	+405,698	+$86,036	+$5,924
ADD	JPM ACTIVE BOND ETF	46654Q716	+1,476,606	+$79,840	-$51
ADD	ST STR UTIL SEL SPDR ETF	81369Y886	+1,492,404	+$63,711	-$68,136

Sector Allocation

12.7%$5.5M

7.7%$3.3M

4.7%$2.1M

4.6%$2.0M

Consumer Discretionary

3.3%$1.4M

Consumer Staples

1.9%$837,816

Communication Services

1.6%$691,250

1.5%$647,846

1.0%$455,621

0.7%$318,881

0.3%$137,566

Filing History

Feb 11, 202613F HOLDINGS REPORTQ/E Dec 20252,909 pos · $43.6M
Oct 27, 202513F HOLDINGS REPORTQ/E Sep 20252,852 pos · $42.2M
Jul 17, 202513F HOLDINGS REPORTQ/E Jun 20252,698 pos · $38.3M
Apr 17, 202513F HOLDINGS REPORTQ/E Mar 20252,664 pos · $35.3M
Jan 17, 202513F HOLDINGS REPORTQ/E Dec 20242,679 pos · $36.1M
Oct 29, 202413F HOLDINGS REPORTQ/E Sep 20242,652 pos · $35.8M
Jul 25, 202413F HOLDINGS REPORTQ/E Jun 20242,599 pos · $32.8M
May 1, 202413F HOLDINGS REPORTQ/E Mar 20242,712 pos · $33.6M
Nov 8, 202313F HOLDINGS REPORTQ/E Dec 20233,364 pos · $26.8M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	APPLE INC	AAPL	4,708,902	$1.3M	7.11%
2	MICROSOFT CORP	MSFT	2,109,055	$1.0M	5.66%
3	ISHS CORE SP 500 ETF	464287200	1,277,205	$874,809	4.86%
4	NVIDIA CORP	NVDA	4,439,167	$827,905	4.59%
5	ST STR TECH SEL SPDR ETF	81369Y803	4,443,817	$639,776	3.55%
6	AMAZONCOM INC	AMZN	2,666,064	$615,381	3.42%
7	BROADCOM INC	AVGO	1,665,724	$576,507	3.20%
8	ALPHABET INC A	GOOG	1,768,928	$553,675	3.07%
9	JPMORGAN CHASE CO	VYLD	1,696,703	$546,712	3.03%
10	INV QQQ ETF	IVZ	841,143	$516,723	2.87%
11	ST STR FINL SEL SCTR ETF	81369Y605	9,174,890	$502,509	2.79%
12	SPDR SP 500 ETF	SPY	683,338	$465,982	2.59%
13	JPM BETABLDRS U S EQ ETF	46641Q399	3,382,109	$417,048	2.31%
14	ALPHABET INC C	GOOG	1,317,883	$413,552	2.30%
15	ST STR COMMN SVC SEL ETF	81369Y852	3,350,960	$394,475	2.19%
16	ST STR H/C SEL SCTR ETF	81369Y209	2,379,303	$368,316	2.04%
17	ISHS RUSS 1000 GRW ETF	464287614	778,101	$368,275	2.04%
18	META PLATFORMS INC A	META	532,903	$351,765	1.95%
19	ISHS CORE UNVL USD ETF	46434V613	7,094,873	$330,195	1.83%
20	ISHS SP 500 VALUE ETF	464287408	1,470,999	$311,955	1.73%