Institutional Manager · CIK 0001419186

Cambridge Investment Research Advisors, Inc.

FAIRFIELD, IA · File #028-12861

Latest AUM

$37.8M

Positions

3,812

Top-10 Concentration

51.3%

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	SELECT SECTOR SPDR TR STATE STREET	81369Y803	+621,775	+$89,517	-$85,272
REDUCE	INVESCO EXCH TRADED FD TR II	IVZ	-339,552	-$85,879	+$4,219
REDUCE	SPDR SERIES TRUST STATE STREET	78464A854	-909,406	-$72,953	+$5,728
ADD	NETFLIX	NFLX	+770,212	+$72,216	-$92,217
NEW	PROFESIONALLY MANAGED PORTFO AKRE	74316P579	+1,072,509	+$70,260	$0
ADD	INVESCO ACTIVELY MANAGED EXC	IVZ	+1,333,336	+$67,000	+$3
NEW	BLUEROCK PVT REAL ESTATE	09631P102	+4,382,006	+$65,730	$0
ADD	PIMCO	72201R833	+444,528	+$44,604	-$116
ADD	J P MORGAN EXCHANGE TRADED	46641Q837	+835,309	+$42,258	-$341
ADD	SPDR SERIES TRUST STATE STREET	78468R663	+425,185	+$38,853	-$470

Sector Allocation

Technology

11.2%$4.3M

Financials

9.1%$3.4M

Consumer Discretionary

3.1%$1.2M

Healthcare

2.4%$916,895

Industrials

2.2%$831,126

Consumer Staples

1.2%$440,724

Communication Services

1.1%$437,534

1.0%$367,441

0.9%$359,114

0.5%$201,902

0.3%$112,431

Filing History

Feb 5, 202613F HOLDINGS REPORTQ/E Dec 20253,812 pos · $37.8M
Nov 12, 202513F HOLDINGS REPORTQ/E Sep 20253,715 pos · $36.4M
Jul 31, 202513F HOLDINGS REPORTQ/E Jun 20253,608 pos · $32.9M
Apr 22, 202513F HOLDINGS REPORTQ/E Mar 20253,495 pos · $29.6M
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 20243,460 pos · $29.9M
Oct 28, 202413F HOLDINGS REPORTQ/E Sep 20243,409 pos · $29.4M
Jul 26, 202413F HOLDINGS REPORTQ/E Jun 20243,309 pos · $27.1M
Apr 24, 202413F HOLDINGS REPORTQ/E Mar 20243,302 pos · $26.0M
Oct 24, 202313F HOLDINGS REPORTQ/E Dec 20233,133 pos · $21.4M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD INDEX FDS	922908363	1,903,945	$1.2M	7.93%
2	APPLE	AAPL	4,377,705	$1.2M	7.91%
3	NVIDIA CORPORATION	NVDA	5,506,589	$1.0M	6.82%
4	INVESCO	IVZ	1,320,608	$811,262	5.39%
5	VANGUARD INDEX FDS	922908769	2,079,849	$697,311	4.63%
6	ISHARES	464287200	997,615	$683,306	4.54%
7	MICROSOFT	MSFT	1,234,002	$596,788	3.96%
8	AMAZON	AMZN	2,425,598	$559,876	3.72%
9	VANGUARD STAR FDS VG TL	921909768	6,359,382	$479,752	3.19%
10	SPDR	SPY	695,843	$474,509	3.15%
11	BERKSHIRE HATHAWAY INC DEL	BRK-A	787,458	$395,816	2.63%
12	CAPITAL GROUP	14020W106	7,054,003	$307,837	2.05%
13	ALPHABET	GOOG	974,440	$305,000	2.03%
14	ALPHABET	GOOG	960,470	$301,396	2.00%
15	VANGUARD INDEX FDS	922908736	512,844	$250,196	1.66%
16	SPDR	GLD	592,598	$234,853	1.56%
17	BROADCOM	AVGO	673,811	$233,206	1.55%
18	META PLATFORMS	META	345,067	$227,775	1.51%
19	TESLA	TSLA	497,723	$223,836	1.49%
20	PALANTIR TECHNOLOGIES	PLTR	1,174,291	$208,730	1.39%