# Stratford Consulting, LLC

> Institutional holdings reported to the SEC as of Q1 2020 on Form 13F. CIK 1553656. Source: https://holderbook.com/funds/1553656-stratford-consulting-llc/

- Reported value: $219.0M
- Positions: 87
- Weight of the ten largest: 69.9%
- Filed: 2020-05-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $48.3M | 187,032 | 22.1% | 6 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $27.0M | 338,583 | 12.3% | 6 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $21.6M | 302,378 | 9.9% | 6 |
| ISHARES TR | [SCZ](https://holderbook.com/stocks/SCZ/) | $11.5M | 257,341 | 5.3% | 6 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $9.9M | 125,085 | 4.5% | 6 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $8.9M | 264,047 | 4.0% | 6 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $8.8M | 156,208 | 4.0% | 6 |
| WISDOMTREE TR | [DLN](https://holderbook.com/stocks/DLN/) | $6.3M | 77,283 | 2.9% | 1 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $5.9M | 176,149 | 2.7% | 6 |
| ISHARES TR | [IJS](https://holderbook.com/stocks/IJS/) | $5.0M | 49,575 | 2.3% | 6 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $4.6M | 65,017 | 2.1% | 6 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $3.9M | 15,034 | 1.8% | 1 |
| SPDR SERIES TRUST | [RWR](https://holderbook.com/stocks/RWR/) | $3.7M | 51,826 | 1.7% | 6 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $3.7M | 53,371 | 1.7% | 4 |
| WISDOMTREE TR | [DGS](https://holderbook.com/stocks/DGS/) | $3.6M | 108,203 | 1.6% | 6 |
| VANGUARD INTL EQUITY INDEX F | [VNQI](https://holderbook.com/stocks/VNQI/) | $3.4M | 80,268 | 1.6% | 6 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $3.2M | 122,619 | 1.4% | 2 |
| SCHWAB STRATEGIC TR | [SCHA](https://holderbook.com/stocks/SCHA/) | $3.0M | 58,263 | 1.4% | 2 |
| SCHWAB STRATEGIC TR | [SCHC](https://holderbook.com/stocks/SCHC/) | $3.0M | 122,332 | 1.4% | 1 |
| SCHWAB STRATEGIC TR | [SCHH](https://holderbook.com/stocks/SCHH/) | $2.9M | 88,082 | 1.3% | 6 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $2.5M | 61,673 | 1.1% | 6 |
| NORWOOD FINANCIAL CORP | [NWFL](https://holderbook.com/stocks/NWFL/) | $2.5M | 92,032 | 1.1% | 3 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $2.2M | 9,268 | 1.0% | 6 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $1.8M | 12,384 | 0.8% | 6 |
| SPDR INDEX SHS FDS | [EWX](https://holderbook.com/stocks/EWX/) | $1.8M | 53,041 | 0.8% | 1 |
| SOUTHWEST AIRLS CO | [LUV](https://holderbook.com/stocks/LUV/) | $1.6M | 44,336 | 0.7% | 6 |
| WISDOMTREE TR | [DLS](https://holderbook.com/stocks/DLS/) | $1.5M | 31,026 | 0.7% | 6 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.5M | 13,535 | 0.7% | 6 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $1.4M | 28,994 | 0.7% | 1 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $1.1M | 21,647 | 0.5% | 6 |
| PIMCO ETF TR | [MINT](https://holderbook.com/stocks/MINT/) | $875.0K | 8,842 | 0.4% | 6 |
| ISHARES TR | [DVY](https://holderbook.com/stocks/DVY/) | $872.0K | 11,864 | 0.4% | 6 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $857.0K | 8,578 | 0.4% | 1 |
| SPDR SERIES TRUST | [SJNK](https://holderbook.com/stocks/SJNK/) | $850.0K | 36,082 | 0.4% | 6 |
| ISHARES GOLD TRUST | [IAUXXXX](https://holderbook.com/stocks/IAUXXXX/) | $839.0K | 55,700 | 0.4% | 6 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $745.0K | 7,202 | 0.3% | 6 |
| SCHWAB STRATEGIC TR | [SCHE](https://holderbook.com/stocks/SCHE/) | $700.0K | 33,837 | 0.3% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $546.0K | 2,148 | 0.2% | 5 |
| SPDR SERIES TRUST | [SPSB](https://holderbook.com/stocks/SPSB/) | $502.0K | 16,599 | 0.2% | 6 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $485.0K | 5,907 | 0.2% | 6 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $389.0K | 3,441 | 0.2% | 2 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $372.0K | 2,511 | 0.2% | 6 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $341.0K | 2,597 | 0.2% | 6 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $340.0K | 3,900 | 0.2% | 1 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $331.0K | 1,999 | 0.2% | 6 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $302.0K | 3,823 | 0.1% | 6 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $291.0K | 1,590 | 0.1% | 6 |
| MARTIN MARIETTA MATLS INC | [MLM](https://holderbook.com/stocks/MLM/) | $260.0K | 1,373 | 0.1% | 6 |
| INVESCO EXCHANGE TRADED FD T | [PFM](https://holderbook.com/stocks/PFM/) | $249.0K | 10,115 | 0.1% | 6 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $235.0K | 1,557 | 0.1% | 6 |
| WP CAREY INC | [WPC](https://holderbook.com/stocks/WPC/) | $211.0K | 3,631 | 0.1% | 6 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $207.0K | 2,715 | 0.1% | 3 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $182.0K | 5,328 | 0.1% | 6 |
| ISHARES TR | [IFGL](https://holderbook.com/stocks/IFGL/) | $173.0K | 7,993 | 0.1% | 6 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $173.0K | 3,299 | 0.1% | 5 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $172.0K | 7,164 | 0.1% | 1 |
| JPMORGAN CHASE & CO | [AMJ](https://holderbook.com/stocks/AMJ/) | $167.0K | 18,523 | 0.1% | 6 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $153.0K | 1,821 | 0.1% | 2 |
| ISHARES TR | [SUSA](https://holderbook.com/stocks/SUSA/) | $122.0K | 1,111 | 0.1% | 2 |
| WESTERN ASSET INTER MUNI | [SBI](https://holderbook.com/stocks/SBI/) | $120.0K | 14,181 | 0.1% | 6 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $118.0K | 918 | 0.1% | 2 |
| ISHARES TR | [IBB](https://holderbook.com/stocks/IBB/) | $114.0K | 1,054 | 0.1% | 2 |
| PIMCO HIGH INCOME FD | [PHK](https://holderbook.com/stocks/PHK/) | $104.0K | 21,306 | 0.0% | 6 |
| SPDR SERIES TRUST | [XHB](https://holderbook.com/stocks/XHB/) | $93.0K | 3,128 | 0.0% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $89.0K | 983 | 0.0% | 2 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $77.0K | 1,438 | 0.0% | 2 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $75.0K | 605 | 0.0% | 2 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $72.0K | 614 | 0.0% | 2 |
| LIBERTY ALL-STAR GROWTH FD I | [ASG](https://holderbook.com/stocks/ASG/) | $64.0K | 13,868 | 0.0% | 6 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $62.0K | 800 | 0.0% | 6 |
| INVESCO EXCHANGE TRADED FD T | [BMVP](https://holderbook.com/stocks/BMVP/) | $50.0K | 686 | 0.0% | 2 |
| ALLIANZGI CONV INCOME FD | [NCVXXXX](https://holderbook.com/stocks/NCVXXXX/) | $38.0K | 10,105 | 0.0% | 6 |
| ALLIANZGI CONV INCOME FD II | [NCZXXXX](https://holderbook.com/stocks/NCZXXXX/) | $34.0K | 10,107 | 0.0% | 6 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $29.0K | 301 | 0.0% | 6 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $12.0K | 105 | 0.0% | 2 |
| WISDOMTREE TR | [WTRE](https://holderbook.com/stocks/WTRE/) | $9.0K | 389 | 0.0% | 2 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $8.0K | 96 | 0.0% | 2 |
| ISHARES TR | [PFF](https://holderbook.com/stocks/PFF/) | $8.0K | 266 | 0.0% | 2 |
| SCHWAB STRATEGIC TR | [SCHV](https://holderbook.com/stocks/SCHV/) | $6.0K | 129 | 0.0% | 2 |
| ISHARES TR | [IDV](https://holderbook.com/stocks/IDV/) | $5.0K | 200 | 0.0% | 1 |
| INVESCO EXCHANGE TRADED FD T | [RFG](https://holderbook.com/stocks/RFG/) | $4.0K | 34 | 0.0% | 2 |
| VANGUARD INDEX FDS | [VOE](https://holderbook.com/stocks/VOE/) | $2.0K | 20 | 0.0% | 1 |
| SPDR INDEX SHS FDS | [RWO](https://holderbook.com/stocks/RWO/) | $1.0K | 30 | 0.0% | 1 |
| SPDR SERIES TRUST | [TFI](https://holderbook.com/stocks/TFI/) | $1.0K | 24 | 0.0% | 1 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $1.0K | 24 | 0.0% | 1 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $1.0K | 16 | 0.0% | 1 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $1.0K | 9 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2020 | -24.5% | -19.9% | -4.6% | 100% |
| Q4 2019 | +5.6% | +8.5% | -2.9% | 100% |
| Q3 2019 | +0.2% | +1.3% | -1.1% | 100% |
| Q2 2019 | +1.4% | +3.7% | -2.3% | 100% |
| Q1 2019 | +10.9% | +13.0% | -2.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2020 | $219.0M | 87 |
| Q4 2019 | $306.4M | 83 |
| Q3 2019 | $292.0M | 59 |
| Q2 2019 | $283.2M | 55 |
| Q1 2019 | $279.8M | 58 |
| Q4 2018 | $248.5M | 57 |