# KCS Wealth Advisory

> Institutional holdings reported to the SEC as of Q3 2023 on Form 13F. CIK 1697719. Source: https://holderbook.com/funds/1697719-kcs-wealth-advisory/

- Reported value: $234.5M
- Positions: 133
- Weight of the ten largest: 38.3%
- Filed: 2023-11-03

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 |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $29.1M | 169,875 | 12.4% | 20 |
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $12.6M | 250,266 | 5.4% | 5 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $11.7M | 203,100 | 5.0% | 12 |
| GOLDMAN SACHS ETF TR | [GSST](https://holderbook.com/stocks/GSST/) | $8.3M | 166,015 | 3.5% | 6 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $5.6M | 12,949 | 2.4% | 20 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $5.1M | 56,949 | 2.2% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $4.7M | 15,586 | 2.0% | 20 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $4.6M | 14,416 | 1.9% | 19 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $4.3M | 12,398 | 1.9% | 20 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $4.1M | 53,619 | 1.7% | 5 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.9M | 29,778 | 1.7% | 20 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $3.7M | 40,974 | 1.6% | 20 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $3.3M | 23,595 | 1.4% | 20 |
| EL PASO ENERGY CAP TR I | [EPPRC](https://holderbook.com/stocks/EPPRC/) | $3.2M | 71,266 | 1.4% | 6 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $3.1M | 70,414 | 1.3% | 20 |
| PACCAR INC | [PCAR](https://holderbook.com/stocks/PCAR/) | $3.1M | 36,041 | 1.3% | 20 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $3.0M | 20,839 | 1.3% | 20 |
| CENOVUS ENERGY INC | [CVEWS](https://holderbook.com/stocks/CVEWS/) | $3.0M | 184,533 | 1.3% | 9 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $3.0M | 66,067 | 1.3% | 13 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $2.9M | 36,033 | 1.3% | 20 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $2.9M | 6,727 | 1.2% | 20 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.9M | 12,699 | 1.2% | 20 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $2.8M | 5,001 | 1.2% | 20 |
| NEWS CORP NEW | [NWS](https://holderbook.com/stocks/NWS/) | $2.8M | 133,440 | 1.2% | 20 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $2.8M | 85,176 | 1.2% | 20 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $2.8M | 2,173 | 1.2% | 20 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $2.5M | 102,956 | 1.1% | 11 |
| PACKAGING CORP AMER | [PKG](https://holderbook.com/stocks/PKG/) | $2.5M | 16,269 | 1.1% | 20 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $2.4M | 27,531 | 1.0% | 20 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $2.3M | 66,950 | 1.0% | 20 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.2M | 17,580 | 1.0% | 13 |
| ISHARES TR | [IBTH](https://holderbook.com/stocks/IBTH/) | $2.2M | 99,685 | 0.9% | 3 |
| APARTMENT INVT & MGMT CO | [AIV](https://holderbook.com/stocks/AIV/) | $2.2M | 316,768 | 0.9% | 12 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $2.1M | 26,025 | 0.9% | 20 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $2.0M | 11,553 | 0.8% | 20 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $1.9M | 4,425 | 0.8% | 20 |
| JANUS DETROIT STR TR | [JBBB](https://holderbook.com/stocks/JBBB/) | $1.9M | 40,050 | 0.8% | 4 |
| ISHARES TR | [IEUR](https://holderbook.com/stocks/IEUR/) | $1.9M | 38,009 | 0.8% | 20 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $1.9M | 3,670 | 0.8% | 20 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $1.8M | 28,653 | 0.8% | 17 |
| RPT REALTY | [RPTPRD](https://holderbook.com/stocks/RPTPRD/) | $1.7M | 34,234 | 0.7% | 6 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $1.7M | 6,613 | 0.7% | 20 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $1.7M | 3,705 | 0.7% | 20 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $1.7M | 39,417 | 0.7% | 20 |
| GENERAL MTRS CO | [GM](https://holderbook.com/stocks/GM/) | $1.6M | 48,628 | 0.7% | 20 |
| FIDELITY COVINGTON TRUST | [FQAL](https://holderbook.com/stocks/FQAL/) | $1.5M | 30,523 | 0.6% | 15 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $1.4M | 2,222 | 0.6% | 7 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $1.4M | 24,038 | 0.6% | 16 |
| RUSH ENTERPRISES INC | [RUSHA](https://holderbook.com/stocks/RUSHA/) | $1.3M | 32,774 | 0.6% | 2 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $1.3M | 40,124 | 0.6% | 5 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.3M | 12,644 | 0.6% | 20 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $1.3M | 14,899 | 0.6% | 10 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $1.2M | 19,189 | 0.5% | 20 |
| ALBERTSONS COMPANIES INC | [ACI](https://holderbook.com/stocks/ACI/) | $1.2M | 53,603 | 0.5% | 3 |
| KONINKLIJKE PHILIPS N V | [PHG](https://holderbook.com/stocks/PHG/) | $1.2M | 60,399 | 0.5% | 20 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $1.2M | 20,503 | 0.5% | 8 |
| OPPENHEIMER HLDGS INC | [OPY](https://holderbook.com/stocks/OPY/) | $1.2M | 31,131 | 0.5% | 8 |
| STIFEL FINL CORP | [SF](https://holderbook.com/stocks/SF/) | $1.2M | 19,133 | 0.5% | 3 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $1.1M | 5,812 | 0.5% | 20 |
| AERCAP HOLDINGS NV | [AER](https://holderbook.com/stocks/AER/) | $1.1M | 17,965 | 0.5% | 20 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $1.1M | 8,571 | 0.5% | 20 |
| WISDOMTREE TR | [HYZD](https://holderbook.com/stocks/HYZD/) | $1.1M | 52,038 | 0.5% | 3 |
| ALLY FINL INC | [ALLY](https://holderbook.com/stocks/ALLY/) | $1.0M | 38,930 | 0.4% | 5 |
| CBL & ASSOC PPTYS INC | [CBL](https://holderbook.com/stocks/CBL/) | $1.0M | 49,336 | 0.4% | 3 |
| GARRETT MOTION INC | [GTX](https://holderbook.com/stocks/GTX/) | $978.8K | 124,219 | 0.4% | 2 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $966.5K | 2,222 | 0.4% | 17 |
| TORTOISE ENERGY INFRSTRCTR C | [TYG](https://holderbook.com/stocks/TYG/) | $949.5K | 32,853 | 0.4% | 8 |
| INFOSYS LTD | [INFY](https://holderbook.com/stocks/INFY/) | $933.3K | 54,546 | 0.4% | 20 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $931.1K | 4,893 | 0.4% | 20 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $929.2K | 2,866 | 0.4% | 13 |
| ISHARES TR | [IBDO](https://holderbook.com/stocks/IBDO/) | $848.3K | 33,452 | 0.4% | 3 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $840.4K | 32,700 | 0.4% | 6 |
| EMBRAER S.A. | [EMBJ](https://holderbook.com/stocks/EMBJ/) | $797.7K | 58,142 | 0.3% | 20 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $775.4K | 21,391 | 0.3% | 5 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $759.6K | 22,900 | 0.3% | 12 |
| PETROLEO BRASILEIRO S A | [PBR](https://holderbook.com/stocks/PBR/) | $742.0K | 49,497 | 0.3% | 4 |
| KB FINL GROUP INC | [KB](https://holderbook.com/stocks/KB/) | $738.0K | 17,953 | 0.3% | 7 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $732.9K | 4,913 | 0.3% | 20 |
| SONY GROUP CORP | [SONY](https://holderbook.com/stocks/SONY/) | $731.3K | 8,874 | 0.3% | 18 |
| ISHARES INC | [CEMB](https://holderbook.com/stocks/CEMB/) | $725.0K | 17,144 | 0.3% | 5 |
| J P MORGAN EXCHANGE TRADED F | [BBCA](https://holderbook.com/stocks/BBCA/) | $708.0K | 12,175 | 0.3% | 6 |
| INVESCO HIGH INCOME 2023 TAR | [IHIT](https://holderbook.com/stocks/IHIT/) | $702.3K | 103,134 | 0.3% | 2 |
| ISHARES TR | [TFLO](https://holderbook.com/stocks/TFLO/) | $699.6K | 13,787 | 0.3% | 5 |
| LXP INDUSTRIAL TRUST | [LXPPRC](https://holderbook.com/stocks/LXPPRC/) | $659.5K | 14,633 | 0.3% | 6 |
| FRANKLIN TEMPLETON ETF TR | [FLJP](https://holderbook.com/stocks/FLJP/) | $654.1K | 24,731 | 0.3% | 20 |
| FLAGSTAR BANK NATIONAL ASSOC | [FLGPRU](https://holderbook.com/stocks/FLGPRU/) | $648.7K | 17,788 | 0.3% | 20 |
| J P MORGAN EXCHANGE TRADED F | [JPEM](https://holderbook.com/stocks/JPEM/) | $621.6K | 12,340 | 0.3% | 14 |
| EDISON INTL | [EIX](https://holderbook.com/stocks/EIX/) | $584.9K | 9,241 | 0.2% | 20 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $566.9K | 11,911 | 0.2% | 12 |
| SPECIAL OPPORTUNITIES FD INC | [SPEPRC](https://holderbook.com/stocks/SPEPRC/) | $560.8K | 24,706 | 0.2% | 5 |
| FIRST TR EXCHNG TRADED FD VI | [DDEC](https://holderbook.com/stocks/DDEC/) | $511.1K | 15,225 | 0.2% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VGK](https://holderbook.com/stocks/VGK/) | $503.9K | 8,699 | 0.2% | 20 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $501.8K | 1,894 | 0.2% | 20 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $495.8K | 4,389 | 0.2% | 20 |
| JD.COM INC | [JD](https://holderbook.com/stocks/JD/) | $492.8K | 16,916 | 0.2% | 20 |
| J P MORGAN EXCHANGE TRADED F | [BBHY](https://holderbook.com/stocks/BBHY/) | $464.2K | 10,579 | 0.2% | 17 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $456.0K | 1,509 | 0.2% | 20 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $413.5K | 7,531 | 0.2% | 2 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $403.7K | 3,085 | 0.2% | 20 |
| ISHARES TR | [IXN](https://holderbook.com/stocks/IXN/) | $394.8K | 6,825 | 0.2% | 20 |

## 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 |
|---|---|---|---|---|
| Q3 2023 | -2.2% | -3.6% | +1.4% | 99% |
| Q2 2023 | +6.1% | +8.3% | -2.2% | 99% |
| Q1 2023 | +8.1% | +7.0% | +1.0% | 100% |
| Q4 2022 | +6.9% | +7.1% | -0.2% | 100% |
| Q3 2022 | -6.6% | -5.3% | -1.2% | 100% |
| Q2 2022 | -13.0% | -16.5% | +3.5% | 100% |
| Q1 2022 | -3.8% | -4.9% | +1.1% | 100% |
| Q4 2021 | +8.3% | +10.7% | -2.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2023 | $234.5M | 133 |
| Q2 2023 | $288.6M | 153 |
| Q1 2023 | $264.4M | 145 |
| Q4 2022 | $240.7M | 143 |
| Q3 2022 | $216.8M | 143 |
| Q2 2022 | $224.9M | 149 |
| Q1 2022 | $216.2M | 157 |
| Q4 2021 | $249.1M | 161 |
| Q3 2021 | $211.5M | 148 |
| Q2 2021 | $212.5M | 150 |
| Q1 2021 | $193.7M | 149 |
| Q4 2020 | $151.4M | 147 |