Institutional Manager · CIK 0002031991

Richmond Investment Services, LLC

Mequon, WI · File #028-25376

Latest AUM

$578.5M

Positions

235

Top-10 Concentration

59.7%

Filings

Portfolio Value Over Time

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	SPDR SERIES TRUST	78464A854	+451,001	+$36.2M	+$213
ADD	ISHARES TR	464289446	+203,550	+$34.7M	+$873,321
ADD	VANECK ETF TRUST	92189F643	+295,881	+$30.6M	+$409
ADD	INVESCO QQQ TR	IVZ	+34,623	+$21.3M	+$456,920
ADD	JANUS DETROIT STR TR	47103U886	+411,005	+$20.2M	-$189
ADD	VANECK ETF TRUST	92189F106	+127,719	+$11.0M	+$1.2M
ADD	AMERICAN CENTY ETF TR	025072604	+131,677	+$10.1M	+$65
ADD	INVESCO ACTIVELY MANAGED EXC	IVZ	+190,463	+$9.0M	-$13,816
ADD	FIRST TR EXCHANGE-TRADED FD	33741X102	+219,559	+$8.4M	+$53,436
ADD	PROSHARES TR	74347G242	+170,546	+$7.8M	+$83,130

Sector Allocation

Financials

13.9%$80.7M

Technology

3.6%$20.9M

Consumer Discretionary

1.3%$7.4M

Healthcare

0.6%$3.7M

Industrials

0.6%$3.5M

Utilities

0.3%$1.6M

Communication Services

0.2%$1.4M

Consumer Staples

0.2%$1.1M

Energy

0.1%$657,543

Filing History

Feb 12, 202613F HOLDINGS REPORTQ/E Dec 2025235 pos · $578.5M
Nov 12, 202513F HOLDINGS REPORTQ/E Sep 2025306 pos · $537.4M
Aug 12, 202513F HOLDINGS REPORTQ/E Jun 2025242 pos · $473.5M
May 14, 202513F HOLDINGS REPORTQ/E Mar 2025111 pos · $184.1M
Feb 19, 202513F HOLDINGS REPORTQ/E Dec 2024106 pos · $178.1M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ISHARES TR	464289446	396,436	$67.6M	14.51%
2	INVESCO QQQ TR	IVZ	67,207	$41.3M	8.86%
3	SPDR SERIES TRUST	78464A854	451,131	$36.2M	7.76%
4	VANECK ETF TRUST	92189F643	295,973	$30.7M	6.57%
5	VANECK ETF TRUST	92189F106	251,328	$21.6M	4.62%
6	JANUS DETROIT STR TR	47103U886	412,177	$20.3M	4.34%
7	INVESCO ACTIVELY MANAGED EXC	IVZ	345,056	$16.4M	3.51%
8	FIRST TR EXCHANGE-TRADED FD	33741X102	396,720	$15.2M	3.26%
9	PROSHARES TR	74347G242	330,464	$15.1M	3.23%
10	VANGUARD INDEX FDS	922908736	29,170	$14.2M	3.05%
11	FIRST TR EXCHANGE-TRADED ALP	33737M300	143,085	$13.8M	2.95%
12	SPDR SERIES TRUST	78468R853	224,121	$10.5M	2.25%
13	AMERICAN CENTY ETF TR	025072604	131,711	$10.1M	2.18%
14	VANGUARD INTL EQUITY INDEX F	922042775	136,398	$10.0M	2.15%
15	CAPITAL GROUP DIVIDEND VALUE	14020W106	199,428	$8.7M	1.87%
16	SPDR INDEX SHS FDS	78463X889	172,267	$7.7M	1.64%
17	BERKSHIRE HATHAWAY INC DEL	BRK-A	15,004	$7.5M	1.62%
18	FIRST TR EXCHNG TRADED FD VI	33740U729	279,588	$7.4M	1.59%
19	NVIDIA CORPORATION	NVDA	39,194	$7.3M	1.57%
20	VANECK ETF TRUST	92189F676	17,819	$6.4M	1.38%