# Carroll Financial Associates, Inc.

> Institutional holdings reported to the SEC as of Q4 2021 on Form 13F. CIK 1567784. Source: https://holderbook.com/funds/1567784-carroll-financial-associates-inc/

- Reported value: $1.9B
- Positions: 1,600
- Weight of the ten largest: 44.7%
- Filed: 2022-01-06

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 |
|---|---|---|---|---|---|
| GLOBAL X FDS | [AUSF](https://holderbook.com/stocks/AUSF/) | $175.5M | 5,531,364 | 9.3% | 13 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $146.3M | 1,816,413 | 7.8% | 13 |
| INVESTMENT MANAGERS SER TR | [KLDW](https://holderbook.com/stocks/KLDW/) | $123.0M | 2,567,806 | 6.5% | 7 |
| INVESCO EXCHANGE TRADED FD T | [PRF](https://holderbook.com/stocks/PRF/) | $93.9M | 547,460 | 5.0% | 13 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $65.1M | 361,058 | 3.5% | 13 |
| ISHARES TR | [MTUM](https://holderbook.com/stocks/MTUM/) | $53.5M | 290,292 | 2.9% | 13 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $50.1M | 146,227 | 2.7% | 13 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $49.2M | 159,038 | 2.6% | 13 |
| EXCHANGE LISTED FDS TR | [ARMR](https://holderbook.com/stocks/ARMR/) | $48.1M | 1,765,885 | 2.6% | 5 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $35.4M | 73,869 | 1.9% | 13 |
| INVESCO EXCH TRD SLF IDX FD | [OMFL](https://holderbook.com/stocks/OMFL/) | $35.0M | 688,293 | 1.9% | 11 |
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $34.1M | 676,455 | 1.8% | 1 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $32.7M | 191,070 | 1.7% | 13 |
| WISDOMTREE TR | [DGRW](https://holderbook.com/stocks/DGRW/) | $31.8M | 483,490 | 1.7% | 13 |
| ARK ETF TR | [ARKK](https://holderbook.com/stocks/ARKK/) | $23.7M | 243,162 | 1.3% | 13 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $22.1M | 74,517 | 1.2% | 13 |
| PGIM ETF TR | [PULS](https://holderbook.com/stocks/PULS/) | $21.5M | 433,980 | 1.1% | 11 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $20.9M | 43,844 | 1.1% | 13 |
| ARK ETF TR | [ARKG](https://holderbook.com/stocks/ARKG/) | $18.1M | 290,799 | 1.0% | 13 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $17.2M | 166,856 | 0.9% | 13 |
| GOLDMAN SACHS ETF TR | [GSLC](https://holderbook.com/stocks/GSLC/) | $16.5M | 173,244 | 0.9% | 13 |
| NATIXIS ETF TR | [LSST](https://holderbook.com/stocks/LSST/) | $14.4M | 579,662 | 0.8% | 5 |
| ISHARES TR | [STIP](https://holderbook.com/stocks/STIP/) | $14.2M | 134,163 | 0.8% | 13 |
| INVESCO EXCHANGE TRADED FD T | [PRFZ](https://holderbook.com/stocks/PRFZ/) | $13.9M | 72,460 | 0.7% | 13 |
| GOLDMAN SACHS ETF TR | [GSST](https://holderbook.com/stocks/GSST/) | $13.7M | 270,462 | 0.7% | 4 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $12.5M | 213,182 | 0.7% | 9 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $11.9M | 47,080 | 0.6% | 13 |
| J P MORGAN EXCHANGE TRADED F | [JPST](https://holderbook.com/stocks/JPST/) | $11.7M | 231,200 | 0.6% | 13 |
| ETF SER SOLUTIONS | [MSTB](https://holderbook.com/stocks/MSTB/) | $11.5M | 355,761 | 0.6% | 5 |
| SIMPLIFY EXCHANGE TRADED FUN | [SPD](https://holderbook.com/stocks/SPD/) | $11.2M | 335,216 | 0.6% | 4 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $11.0M | 64,870 | 0.6% | 13 |
| ISHARES TR | [IOO](https://holderbook.com/stocks/IOO/) | $10.1M | 128,446 | 0.5% | 13 |
| VANECK ETF TRUST | [RAAX](https://holderbook.com/stocks/RAAX/) | $10.1M | 372,448 | 0.5% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $9.3M | 58,862 | 0.5% | 13 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $9.2M | 155,325 | 0.5% | 13 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $9.1M | 147,691 | 0.5% | 13 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $8.7M | 157,626 | 0.5% | 13 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $8.7M | 21,569 | 0.5% | 13 |
| JANUS DETROIT STR TR | [VNLA](https://holderbook.com/stocks/VNLA/) | $8.3M | 166,870 | 0.4% | 13 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $7.9M | 176,031 | 0.4% | 13 |
| GLOBAL X FDS | [EMBD](https://holderbook.com/stocks/EMBD/) | $7.8M | 300,406 | 0.4% | 6 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $7.7M | 47,049 | 0.4% | 13 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $7.6M | 2,250 | 0.4% | 13 |
| SPDR SERIES TRUST | [SPMD](https://holderbook.com/stocks/SPMD/) | $7.4M | 148,809 | 0.4% | 12 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $7.2M | 62,902 | 0.4% | 13 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $7.2M | 173,525 | 0.4% | 11 |
| GOLDMAN SACHS ETF TR | [GSEW](https://holderbook.com/stocks/GSEW/) | $7.0M | 98,145 | 0.4% | 13 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $6.9M | 42,500 | 0.4% | 13 |
| AMPLIFY ETF TR | [DIVO](https://holderbook.com/stocks/DIVO/) | $6.8M | 177,301 | 0.4% | 6 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $6.6M | 44,794 | 0.3% | 13 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $6.5M | 20,030 | 0.3% | 13 |
| VANGUARD WHITEHALL FDS | [VIGI](https://holderbook.com/stocks/VIGI/) | $6.5M | 75,899 | 0.3% | 13 |
| VANGUARD WELLINGTON FD | [VFMF](https://holderbook.com/stocks/VFMF/) | $6.5M | 60,189 | 0.3% | 13 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $6.1M | 21,597 | 0.3% | 13 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $6.0M | 14,921 | 0.3% | 13 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $6.0M | 74,154 | 0.3% | 13 |
| PRINCIPAL EXCHANGE TRADED FD | [PREF](https://holderbook.com/stocks/PREF/) | $6.0M | 294,117 | 0.3% | 13 |
| INNOVATOR ETFS TRUST | [EJAN](https://holderbook.com/stocks/EJAN/) | $5.5M | 186,891 | 0.3% | 7 |
| DBX ETF TR | [HDEF](https://holderbook.com/stocks/HDEF/) | $5.4M | 228,202 | 0.3% | 8 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $5.3M | 30,735 | 0.3% | 13 |
| VICTORY PORTFOLIOS II | [CSB](https://holderbook.com/stocks/CSB/) | $5.1M | 84,058 | 0.3% | 13 |
| GLOBAL X FDS | [AIQ](https://holderbook.com/stocks/AIQ/) | $5.1M | 158,328 | 0.3% | 12 |
| INVESCO EXCH TRADED FD TR II | [PXH](https://holderbook.com/stocks/PXH/) | $5.1M | 231,266 | 0.3% | 13 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $5.1M | 132,221 | 0.3% | 13 |
| NEW YORK LIFE INVESTMENTS ET | [MNA](https://holderbook.com/stocks/MNA/) | $5.0M | 155,573 | 0.3% | 13 |
| VANGUARD INDEX FDS | [VXF](https://holderbook.com/stocks/VXF/) | $4.7M | 25,407 | 0.2% | 13 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $4.6M | 10,554 | 0.2% | 13 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $4.6M | 30,244 | 0.2% | 13 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $4.6M | 56,619 | 0.2% | 13 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $4.6M | 38,657 | 0.2% | 13 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $4.5M | 76,779 | 0.2% | 13 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $4.3M | 51,210 | 0.2% | 13 |
| INVESCO EXCH TRADED FD TR II | [PXF](https://holderbook.com/stocks/PXF/) | $4.3M | 89,993 | 0.2% | 13 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $4.2M | 1,420 | 0.2% | 13 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $4.1M | 38,561 | 0.2% | 13 |
| FIRST TR EXCHANGE-TRADED FD | [FTCS](https://holderbook.com/stocks/FTCS/) | $4.1M | 48,562 | 0.2% | 13 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $4.1M | 15,143 | 0.2% | 13 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $4.1M | 63,921 | 0.2% | 13 |
| LOGAN RIDGE FINANCE CORP | [LRFC](https://holderbook.com/stocks/LRFC/) | $4.0M | 173,462 | 0.2% | 2 |
| ISHARES TR | [IUSG](https://holderbook.com/stocks/IUSG/) | $4.0M | 34,225 | 0.2% | 13 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $4.0M | 1,334 | 0.2% | 13 |
| INNOVATOR ETFS TR | [TSOC](https://holderbook.com/stocks/TSOC/) | $3.9M | 119,514 | 0.2% | 4 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $3.8M | 77,401 | 0.2% | 13 |
| FIRST CTZNS BANCSHARES INC D | [FCNCA](https://holderbook.com/stocks/FCNCA/) | $3.6M | 4,160 | 0.2% | 13 |
| WISDOMTREE TR | [DGS](https://holderbook.com/stocks/DGS/) | $3.5M | 66,022 | 0.2% | 13 |
| NUCOR CORP | [NUE](https://holderbook.com/stocks/NUE/) | $3.4M | 29,401 | 0.2% | 13 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $3.3M | 31,523 | 0.2% | 13 |
| OSI ETF TR | [OUSAXXXX](https://holderbook.com/stocks/OUSAXXXX/) | $3.2M | 69,154 | 0.2% | 12 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $2.9M | 20,177 | 0.2% | 13 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.9M | 13,105 | 0.2% | 13 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $2.8M | 17,244 | 0.1% | 13 |
| INNOVATOR ETFS TRUST | [KJAN](https://holderbook.com/stocks/KJAN/) | $2.8M | 87,070 | 0.1% | 5 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $2.8M | 12,836 | 0.1% | 13 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $2.8M | 2,522 | 0.1% | 13 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $2.7M | 18,550 | 0.1% | 13 |
| VANGUARD WORLD FD | [MGK](https://holderbook.com/stocks/MGK/) | $2.6M | 9,980 | 0.1% | 13 |
| INVESCO EXCH TRADED FD TR II | [SPLV](https://holderbook.com/stocks/SPLV/) | $2.6M | 37,986 | 0.1% | 13 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $2.6M | 9,245 | 0.1% | 13 |
| WISDOMTREE TR | [EPS](https://holderbook.com/stocks/EPS/) | $2.5M | 49,926 | 0.1% | 13 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $2.5M | 24,031 | 0.1% | 13 |

## 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 |
|---|---|---|---|---|
| Q4 2021 | +6.8% | +10.7% | -3.9% | 100% |
| Q3 2021 | -0.9% | +0.3% | -1.2% | 90% |
| Q2 2021 | +5.8% | +8.0% | -2.2% | 90% |
| Q1 2021 | +5.6% | +6.0% | -0.5% | 100% |
| Q4 2020 | +13.3% | +11.6% | +1.7% | 100% |
| Q3 2020 | +7.8% | +8.6% | -0.8% | 100% |
| Q2 2020 | +17.9% | +19.6% | -1.7% | 93% |
| Q1 2020 | -22.0% | -19.9% | -2.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2021 | $1.9B | 1,600 |
| Q3 2021 | $1.8B | 1,761 |
| Q2 2021 | $1.8B | 1,679 |
| Q1 2021 | $1.6B | 1,613 |
| Q4 2020 | $1.5B | 1,509 |
| Q3 2020 | $1.3B | 1,469 |
| Q2 2020 | $1.2B | 1,495 |
| Q1 2020 | $1.0B | 1,425 |
| Q4 2019 | $1.3B | 1,510 |
| Q3 2019 | $1.1B | 1,494 |
| Q2 2019 | $1.1B | 1,550 |
| Q1 2019 | $1.1B | 1,349 |