Freedom Together Foundation Portfolio Concentration: Analysis of Largest Holdings

The Freedom Together Foundation holds a portfolio worth approximately $867 million as of June 30, 2026. This portfolio is notable for its extreme concentration across just two holdings.

According to the provided data, these holdings are:

• SPY, which represents a significant portion of the portfolio at 73%. This ETF is tracking the S&P 50. The specific fund name is "State Street SPDR S&P 500 ETF Trust (SPY)".
• RSP, making up the remaining allocation at 27%. This fund is known as "iShares Core S&P Small Cap Growth Factor ETF (RSP)". The specific fund name provided in the data is "Invesco Exchange Traded Fund Ticker (RSP)".

Both SPY and RSP are exchange-traded funds focused on US stocks, but they differ significantly in their composition:

• SPY is designed to track the performance of the S&P 500 Index. This index represents large-cap US stocks across various sectors.
• RSP, on the other hand, focuses specifically on small-cap US stocks with a growth tilt and an emphasis on value factors like low price-to-earnings ratios. It's part of the iShares ETF lineup.

The data indicates that there were no changes in the number of shares held for either SPY or RSP compared to the previous period, suggesting stability in these positions despite their dominance.

Regarding sector allocation:

• Freedom Together Foundation's portfolio has a single sector allocation listed as "Unknown", encompassing the entire $867 million value.

This complete lack of detailed sector information further underscores the concentrated nature of the portfolio. With only two holdings, it's impossible to provide specific sector breakdowns beyond categorizing them both under US stocks (though RSP is more focused on small caps).