# High Falls Advisors, Inc

> Institutional holdings reported to the SEC as of Q4 2025 on Form 13F. CIK 1569139. Source: https://holderbook.com/funds/1569139-high-falls-advisors-inc/

- Reported value: $493.6M
- Positions: 144
- Weight of the ten largest: 59.4%
- Filed: 2026-02-18

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 | [IUSB](https://holderbook.com/stocks/IUSB/) | $44.2M | 949,545 | 9.0% | 20 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $41.5M | 60,629 | 8.4% | 29 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $35.4M | 166,772 | 7.2% | 8 |
| BLACKROCK ETF TRUST | [DYNF](https://holderbook.com/stocks/DYNF/) | $34.5M | 567,822 | 7.0% | 8 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $29.5M | 239,321 | 6.0% | 11 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $27.3M | 406,202 | 5.5% | 12 |
| ISHARES TR | [OEF](https://holderbook.com/stocks/OEF/) | $25.5M | 74,369 | 5.2% | 12 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $23.0M | 321,564 | 4.7% | 20 |
| ISHARES TR | [TLH](https://holderbook.com/stocks/TLH/) | $17.5M | 172,268 | 3.5% | 18 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $14.9M | 54,654 | 3.0% | 29 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $14.6M | 73,422 | 3.0% | 12 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $14.1M | 148,287 | 2.9% | 29 |
| BLACKROCK ETF TRUST | [THRO](https://holderbook.com/stocks/THRO/) | $13.0M | 336,400 | 2.6% | 4 |
| BLACKROCK ETF TRUST | [BAI](https://holderbook.com/stocks/BAI/) | $12.9M | 386,610 | 2.6% | 3 |
| ISHARES TR | [MTUM](https://holderbook.com/stocks/MTUM/) | $12.4M | 49,463 | 2.5% | 5 |
| BLACKROCK ETF TRUST II | [BINC](https://holderbook.com/stocks/BINC/) | $10.4M | 196,352 | 2.1% | 8 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $10.0M | 122,904 | 2.0% | 5 |
| ISHARES TR | [IAGG](https://holderbook.com/stocks/IAGG/) | $9.4M | 188,334 | 1.9% | 3 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $7.1M | 66,390 | 1.4% | 28 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $6.2M | 124,241 | 1.3% | 10 |
| ISHARES TR | [ITA](https://holderbook.com/stocks/ITA/) | $5.3M | 24,514 | 1.1% | 2 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $4.1M | 6,605 | 0.8% | 2 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $3.8M | 39,852 | 0.8% | 12 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.4M | 18,193 | 0.7% | 12 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.4M | 6,955 | 0.7% | 21 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $3.1M | 5,344 | 0.6% | 21 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $3.0M | 4,377 | 0.6% | 29 |
| ISHARES TR | [ESGU](https://holderbook.com/stocks/ESGU/) | $2.6M | 17,673 | 0.5% | 24 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.3M | 6,648 | 0.5% | 21 |
| ISHARES TR | [IYW](https://holderbook.com/stocks/IYW/) | $1.9M | 9,487 | 0.4% | 13 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.9M | 5,827 | 0.4% | 21 |
| ISHARES TR | [GOVT](https://holderbook.com/stocks/GOVT/) | $1.8M | 78,546 | 0.4% | 27 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $1.5M | 13,483 | 0.3% | 23 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $1.5M | 10,499 | 0.3% | 29 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $1.3M | 2,828 | 0.3% | 21 |
| BLACKROCK ETF TRUST II | [HIMU](https://holderbook.com/stocks/HIMU/) | $1.3M | 25,728 | 0.3% | 4 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $1.2M | 4,030 | 0.2% | 9 |
| ISHARES TR | [SYSB](https://holderbook.com/stocks/SYSB/) | $1.2M | 13,567 | 0.2% | 1 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $1.1M | 1,902 | 0.2% | 21 |
| ISHARES TR | [IVLU](https://holderbook.com/stocks/IVLU/) | $1.1M | 28,977 | 0.2% | 14 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $993.1K | 8,253 | 0.2% | 29 |
| ISHARES TR | [AOA](https://holderbook.com/stocks/AOA/) | $986.4K | 11,013 | 0.2% | 19 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $972.3K | 4,213 | 0.2% | 21 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $960.3K | 8,619 | 0.2% | 21 |
| ISHARES TR | [IEV](https://holderbook.com/stocks/IEV/) | $921.0K | 13,426 | 0.2% | 14 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $917.6K | 2,651 | 0.2% | 8 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $898.0K | 3,146 | 0.2% | 2 |
| ISHARES TR | [DVY](https://holderbook.com/stocks/DVY/) | $865.0K | 6,128 | 0.2% | 29 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $858.0K | 9,112 | 0.2% | 29 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $819.2K | 9,399 | 0.2% | 18 |
| ISHARES TR | [AOR](https://holderbook.com/stocks/AOR/) | $812.3K | 12,495 | 0.2% | 20 |
| ISHARES INC | [EMXC](https://holderbook.com/stocks/EMXC/) | $761.8K | 10,482 | 0.2% | 9 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $754.8K | 1 | 0.2% | 8 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $690.0K | 3,540 | 0.1% | 21 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $606.9K | 565 | 0.1% | 8 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $603.0K | 800 | 0.1% | 8 |
| WORLD GOLD TR | [GLDM](https://holderbook.com/stocks/GLDM/) | $594.9K | 6,968 | 0.1% | 2 |
| ARM HOLDINGS PLC | [ARM](https://holderbook.com/stocks/ARM/) | $590.3K | 5,400 | 0.1% | 9 |
| ISHARES TR | [ICVT](https://holderbook.com/stocks/ICVT/) | $566.5K | 5,751 | 0.1% | 7 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $555.4K | 4,951 | 0.1% | 21 |
| CAPITAL GROUP GROWTH ETF | [CGGR](https://holderbook.com/stocks/CGGR/) | $553.2K | 12,440 | 0.1% | 7 |
| FIDELITY MERRIMACK STR TR | [FSEC](https://holderbook.com/stocks/FSEC/) | $543.0K | 12,305 | 0.1% | 3 |
| ISHARES TR | [IGEB](https://holderbook.com/stocks/IGEB/) | $513.3K | 11,242 | 0.1% | 3 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $510.4K | 1,135 | 0.1% | 21 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $509.5K | 4,624 | 0.1% | 29 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $506.6K | 5,785 | 0.1% | 13 |
| ISHARES TR | [QLTA](https://holderbook.com/stocks/QLTA/) | $494.4K | 10,282 | 0.1% | 6 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $488.2K | 2,321 | 0.1% | 4 |
| CAPITAL GROUP CORE EQUITY ET | [CGUS](https://holderbook.com/stocks/CGUS/) | $479.8K | 11,926 | 0.1% | 10 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $478.0K | 1,206 | 0.1% | 6 |
| ISHARES TR | [ACWX](https://holderbook.com/stocks/ACWX/) | $476.7K | 7,101 | 0.1% | 4 |
| ISHARES TR | [IGM](https://holderbook.com/stocks/IGM/) | $474.9K | 3,677 | 0.1% | 12 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $459.7K | 6,965 | 0.1% | 29 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $459.6K | 3,091 | 0.1% | 5 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $458.1K | 6,599 | 0.1% | 21 |
| FIDELITY COVINGTON TRUST | [FDEV](https://holderbook.com/stocks/FDEV/) | $456.3K | 13,185 | 0.1% | 3 |
| ISHARES TR | [IUSG](https://holderbook.com/stocks/IUSG/) | $450.2K | 2,681 | 0.1% | 21 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $428.3K | 1,365 | 0.1% | 7 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $415.4K | 5,179 | 0.1% | 4 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $413.4K | 1,321 | 0.1% | 3 |
| ISHARES TR | [DMAX](https://holderbook.com/stocks/DMAX/) | $396.4K | 14,863 | 0.1% | 3 |
| ISHARES TR | [IXN](https://holderbook.com/stocks/IXN/) | $393.3K | 3,746 | 0.1% | 28 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $390.6K | 4,062 | 0.1% | 13 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $378.1K | 571 | 0.1% | 19 |
| FIDELITY COVINGTON TRUST | [FIVA](https://holderbook.com/stocks/FIVA/) | $375.1K | 10,958 | 0.1% | 2 |
| FIDELITY COVINGTON TRUST | [FDRR](https://holderbook.com/stocks/FDRR/) | $370.8K | 6,077 | 0.1% | 3 |
| BLACKROCK ETF TRUST II | [CLOA](https://holderbook.com/stocks/CLOA/) | $368.1K | 7,113 | 0.1% | 7 |
| CAPITAL GROUP DIVIDEND VALUE | [CGDV](https://holderbook.com/stocks/CGDV/) | $359.3K | 8,232 | 0.1% | 9 |
| FIDELITY COVINGTON TRUST | [FDMO](https://holderbook.com/stocks/FDMO/) | $356.2K | 4,242 | 0.1% | 3 |
| CAPITAL GROUP CORE BALANCED | [CGBL](https://holderbook.com/stocks/CGBL/) | $355.6K | 10,064 | 0.1% | 5 |
| ISHARES TR | [IWO](https://holderbook.com/stocks/IWO/) | $346.1K | 1,071 | 0.1% | 21 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $344.7K | 923 | 0.1% | 3 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $339.6K | 702 | 0.1% | 11 |
| ISHARES TR | [IWP](https://holderbook.com/stocks/IWP/) | $339.6K | 2,480 | 0.1% | 8 |
| FIDELITY MERRIMACK STR TR | [FBND](https://holderbook.com/stocks/FBND/) | $338.1K | 7,344 | 0.1% | 3 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $337.8K | 1,073 | 0.1% | 3 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $336.7K | 1,757 | 0.1% | 21 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $334.9K | 2,787 | 0.1% | 29 |
| ISHARES TR | [IBHF](https://holderbook.com/stocks/IBHF/) | $333.8K | 14,462 | 0.1% | 4 |
| FIDELITY MERRIMACK STR TR | [FCOR](https://holderbook.com/stocks/FCOR/) | $332.9K | 6,960 | 0.1% | 3 |

## 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 2025 | +1.9% | +2.4% | -0.5% | 100% |
| Q3 2025 | +6.5% | +7.8% | -1.3% | 100% |
| Q2 2025 | +7.7% | +10.5% | -2.8% | 100% |
| Q1 2025 | -1.8% | -4.6% | +2.8% | 100% |
| Q4 2024 | -1.1% | +2.1% | -3.3% | 100% |
| Q3 2024 | +5.1% | +5.4% | -0.3% | 100% |
| Q2 2024 | +2.5% | +4.0% | -1.6% | 100% |
| Q1 2024 | +5.5% | +10.0% | -4.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2025 | $493.6M | 144 |
| Q3 2025 | $485.7M | 146 |
| Q2 2025 | $451.9M | 142 |
| Q1 2025 | $426.0M | 125 |
| Q4 2024 | $431.2M | 116 |
| Q3 2024 | $436.8M | 120 |
| Q2 2024 | $411.7M | 123 |
| Q1 2024 | $397.4M | 123 |
| Q4 2023 | $373.8M | 110 |
| Q3 2023 | $333.1M | 102 |
| Q2 2023 | $350.7M | 111 |
| Q1 2023 | $336.0M | 105 |