AndPartners Investment Activity Analysis: Q2 2026 Portfolio Changes

Portfolio Overview

The portfolio managed by AndPartners, valued at approximately $23.6 billion as of June 30, 2026, shows a diverse allocation across sectors with Technology and Unknown comprising the largest portions.

Significant Purchases This Quarter

This quarter, AndPartners demonstrated substantial buying activity in several holdings:

• VUG, the Vanguard Information Technology Fund, saw a massive increase of 1.8 million shares (572.84% change), boosting its portfolio allocation to 0.76%. This ETF focuses on technology sector stocks.
• VO, Vanguard Small Cap ETF, experienced a significant 932k share increase (344.92% change), adding 0.4% to its weight in the portfolio.
• DFAI, Dimensional Fund Advisors ETF Trust - Fundamental Small Value, was purchased with an increase of 721k shares (7.92% change), contributing to its 1.66% allocation.
• BNDX, Vanguard Charitable Small Cap Index Fund, gained 366k shares (9.25% change) and now accounts for 0.86% of the portfolio.
• VGT, Vanguard Information Technology ETF, saw an increase of 323k shares (724.43% change), now representing 0.18%.

Notable Exits and Reductions

In contrast to the buying activity, AndPartners also reduced positions in certain funds during this period:

• The fund FXN, First Trust Small Cap Value Index Fund (TR), experienced a near-total liquidation with an 836k share reduction (-98.13% change) and now holds only 0.0%.
• MISL, First Trust Small Cap Index Fund (TR), saw a significant sell-off of 305k shares (-83.5% change) and now accounts for just 0.01%.
• FLXR, TCW ETF Trust - Small Cap Core Plus Alpha, was purchased with a 540k share increase (266.65% change), adding 0.12%.
• NVDA, NVIDIA Corporation, gained shares but at a slower pace compared to its ETF counterparts in this quarter.

Detailed Holdings Changes

AndPartners' portfolio adjustments were concentrated across specific sectors and fund types:

• The Technology sector allocation increased slightly, driven by purchases of AAPL, MSFT, and notably the large increase in NVDA shares.
• The Unknown sector allocation, which includes various ETFs like VUG, VO, DFAI, BNDX, and FLXR, saw a significant boost due to the substantial additions in these funds.
• AGG, First Trust US Government CTD Index Fund (TR), maintained its position but experienced an 8.59% increase in shares, contributing to a stable 1.73% allocation.
• IJH, iShares Core Small-Cap ETF, also saw share growth (7.19%) and maintained its portfolio weight of 2.64%.

Investment Strategy Insights

The overall pattern suggests AndPartners prioritized adding exposure to small-cap focused funds and specific technology stocks:

• Purchases in VUG, VO, DFAI, BNDX, FLXR, and IJH indicate a preference for smaller companies across various sectors.
• While reducing positions like FXN (which focuses on small caps) might seem counterintuitive at first glance given the overall trend towards small caps, it could reflect specific views or rebalancing needs within that category.

The investor's strategy appears to involve selective buying in high-growth potential areas and adjustments across different fund types. Further analysis would be needed to understand the full context of these decisions relative to their overall investment thesis.