Sage Advisory Services, Ltd.Co.

CIK 1534378 · View on SEC EDGAR ↗

Portfolio value QoQ: +11.3% 13F does not disclose cash

Top 10 holdings weight67.27%

Top 25 holdings weight93.16%

Positions above 1%23

Effective number of positions14.8

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 9.79% Est. buys $24,439,236 · sells $18,894,043

Median holding: 5.0 quarters Tracked Q1 2025–Q2 2026 · 75.4% still held

New positions7

Increased20

Decreased13

Closed3

Portfolio value $203.2M #6,470 of 9,337 by 13F value · top 69.3%

Positions 46

As of June 30, 2026 Data as of Q2 2026

Sector breakdown

Financials 0.1%

Other/Unmapped 99.9%

Full portfolio 46 positions

					Streak
IVV iShares Trust	$30,456,000	14.98%	40,668	$9,202,000	Up ×1
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	$27,359,000	13.46%	229,926	$5,993,000	Up ×2
FLBL Franklin Senior Loan ETF	$15,910,000	7.83%	694,133	$-563,000	Down ×1
SPDW State Street SPDR Portfolio Developed World ex-US ETF	$14,615,000	7.19%	290,047	$1,692,000	Up ×1
JMBS Janus Henderson Mortgage-Backed Securities ETF	$11,534,000	5.67%	256,374	$802,000	Up ×4
PSK SPDR SERIES TRUST	$11,383,000	5.60%	372,859	$728,000	Up ×1
IEMG iShares, Inc.	$8,585,000	4.22%	103,630	$1,184,000	Down ×1
JSI Janus Henderson Securitized Income ETF	$5,744,000	2.83%	112,161	$389,000	Up ×2
CARY Angel Oak Income ETF	$5,701,000	2.81%	274,360	$378,000	Up ×2
IHF iShares U.S. Health Care Providers ETF	$5,428,000	2.67%	98,098	$1,046,000	Down ×1
KBE SPDR SERIES TRUST	$5,377,000	2.65%	78,821	$-1,909,000	Down ×1
IEFA iShares Core MSCI EAFE ETF	$5,206,000	2.56%	53,905	$-496,000	Down ×5
HYLB DBX ETF Trust	$4,559,000	2.24%	124,835		Up ×1
RSPN Invesco Exchange-Traded Fund Trust	$4,261,000	2.10%	66,585	$-1,967,000	Down ×1
JAAA Janus Henderson AAA CLO ETF	$3,914,000	1.93%	77,527	$169,000	Up ×2
IGV iShares Expanded Tech-Software Sector ETF	$3,827,000	1.88%	42,238
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	$3,614,000	1.78%	18,848	$484,000	Down ×1
IEF iShares 7-10 Year Treasury Bond ETF	$3,486,000	1.72%	36,863	$-612,000	Down ×1
USHY iShares Broad USD High Yield Corporate Bond ETF	$3,223,000	1.59%	87,070	$-2,199,000	Down ×3
XLY XLY	$3,049,000	1.50%	25,997	$338,000	Up ×1
SPEM State Street SPDR Portfolio Emerging Markets ETF	$3,011,000	1.48%	58,155		Up ×1
GSY Invesco Actively Managed Exchange-Traded Fund Trust	$2,913,000	1.43%	58,090	$288,000	Up ×3
JPST JPMorgan Ultra-Short Income ETF	$2,840,000	1.40%	56,161	$210,000	Up ×2
SRLN State Street Blackstone Senior Loan ETF	$1,727,000	0.85%	42,865	$-874,000	Down ×1
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF	$1,620,000	0.80%	30,916	$24,000	Up ×1
ESGD iShares ESG Aware MSCI EAFE ETF	$1,569,000	0.77%	15,262	$173,000	Up ×1
SHV iShares 0-1 Year Treasury Bond ETF	$1,333,000	0.66%	12,078	$0
SHYG iShares Trust	$1,215,000	0.60%	28,650	$3,000
EMLC VanEck ETF Trust	$1,200,000	0.59%	46,940	$29,000	Up ×1
SNPE Xtrackers S&P 500 Scored & Screened ETF	$1,050,000	0.52%	15,251		Up ×1
VOTE TCW Transform 500 ETF	$914,000	0.45%	10,361	$103,000	Down ×1
HYEM VanEck ETF Trust	$891,000	0.44%	44,310	$17,000
EFIV SPDR SERIES TRUST	$853,000	0.42%	11,699	$100,000	Down ×2
NULV Nushares ETF Trust	$763,000	0.38%	15,254	$73,000	Up ×2
ESGE iShares ESG Aware MSCI EM ETF	$746,000	0.37%	13,639	$105,000	Down ×1
TLT iShares 20+ Year Treasury Bond ETF	$539,000	0.27%	6,234	$31,000	Up ×1
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	$476,000	0.23%	9,987	$29,000	Up ×1
MBB iShares MBS ETF	$443,000	0.22%	4,689	$36,000	Up ×1
HYFI AB Active ETFs, Inc.	$278,000	0.14%	7,435	$1,000
JBBB Janus Henderson B-BBB CLO ETF	$272,000	0.13%	5,745		Up ×1
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF	$261,000	0.13%	2,707	$7,000
DIVO Amplify ETF Trust	$235,000	0.12%	5,146	$5,000	Up ×1
REM iShares Trust	$229,000	0.11%	10,385	$6,000
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF	$228,000	0.11%	4,292	$18,000	Up ×1
FBP First BanCorp. New Common Stock	$204,000	0.10%	7,834		Up ×1
NUSC Nushares ETF Trust	$203,000	0.10%	3,892
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
JMBS	$11,534,000	5.67%	up ×4
GSY	$2,913,000	1.43%	up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
HYLB	$4,559,000	124,835	2.24%
IGV	$3,827,000	42,238	1.88%
SPEM	$3,011,000	58,155	1.48%
SNPE	$1,050,000	15,251	0.52%
JBBB	$272,000	5,745	0.13%
FBP	$204,000	7,834	0.10%
NUSC	$203,000	3,892	0.10%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
IVV	Bought more	+8K	+$9.2M
SPYG	Bought more	+12K	+$6.0M
USHY	Trimmed	-60K	-$2.2M
RSPN	Trimmed	-42K	-$2.0M
KBE	Trimmed	-44K	-$1.9M
SPDW	Bought more	+7K	+$1.7M
IEMG	Trimmed	-2K	+$1.2M
IHF	Trimmed	-7K	+$1.0M
SRLN	Trimmed	-22K	-$874K
JMBS	Bought more	+19K	+$802K

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
COWZ	June 30, 2025	171,136	$9,371,000
QUAL	Dec. 31, 2025	38,121	$7,415,000
IJR	March 31, 2026	60,625	$7,286,000	11.2%
IGV	Dec. 31, 2025	57,670	$6,633,000	3.9%
JQUA	March 31, 2026	72,733	$4,595,000
KBE	Sept. 30, 2025	79,640	$4,441,000	8.3%
VLUE	June 30, 2026	26,302	$3,740,000
EEMA	June 30, 2026	29,599	$2,834,000
XRT	March 31, 2026	32,202	$2,747,000	2.4%
FLCA	March 31, 2026	40,473	$1,955,000
EWC	June 30, 2025	40,330	$1,643,000
ESGV	June 30, 2026	8,302	$932,000
DSTL	Sept. 30, 2025	14,198	$786,000
NUSC	March 31, 2026	12,969	$579,000
PZA	March 31, 2026	19,426	$450,000
ESGU	June 30, 2025	3,294	$402,000
IGLB	Dec. 31, 2025	6,532	$337,000
JEPI	March 31, 2026	4,052	$232,000