# Squar Milner Financial Services LLC

> Institutional holdings reported to the SEC as of Q2 2020 on Form 13F. CIK 1727592. Source: https://holderbook.com/funds/1727592-squar-milner-financial-services-llc/

- Reported value: $176.0M
- Positions: 213
- Weight of the ten largest: 33.8%
- Filed: 2020-07-16

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 |
|---|---|---|---|---|---|
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $13.1M | 142,776 | 7.4% | 7 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $9.3M | 207,796 | 5.3% | 7 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $8.3M | 26,796 | 4.7% | 7 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.6M | 27,422 | 3.2% | 7 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $5.4M | 14,918 | 3.1% | 7 |
| ISHARES TR | [ICSH](https://holderbook.com/stocks/ICSH/) | $5.4M | 106,913 | 3.1% | 1 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $4.6M | 15,013 | 2.6% | 7 |
| ISHARES TR | [OEF](https://holderbook.com/stocks/OEF/) | $2.9M | 20,078 | 1.6% | 2 |
| SPDR SERIES TRUST | [LGLV](https://holderbook.com/stocks/LGLV/) | $2.8M | 27,338 | 1.6% | 5 |
| SPDR SERIES TRUST | [SPTS](https://holderbook.com/stocks/SPTS/) | $2.2M | 70,083 | 1.2% | 4 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.1M | 14,863 | 1.2% | 7 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $2.0M | 1,390 | 1.1% | 7 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $1.9M | 15,517 | 1.1% | 7 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.7M | 7,453 | 1.0% | 7 |
| WORLD GOLD TR | [GLDMXXXX](https://holderbook.com/stocks/GLDMXXXX/) | $1.6M | 90,843 | 0.9% | 7 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.6M | 8,915 | 0.9% | 7 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $1.6M | 3,643 | 0.9% | 7 |
| SPDR SERIES TRUST | [SPMD](https://holderbook.com/stocks/SPMD/) | $1.6M | 49,658 | 0.9% | 7 |
| ISHARES TR | [SHV](https://holderbook.com/stocks/SHV/) | $1.5M | 13,739 | 0.9% | 2 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.5M | 546 | 0.9% | 7 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $1.5M | 16,086 | 0.8% | 7 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $1.5M | 19,789 | 0.8% | 7 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $1.4M | 14,580 | 0.8% | 7 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.4M | 30,153 | 0.8% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.4M | 977 | 0.8% | 7 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $1.3M | 1,235 | 0.8% | 7 |
| GOLDMAN SACHS ETF TR | [GBIL](https://holderbook.com/stocks/GBIL/) | $1.3M | 12,924 | 0.7% | 1 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $1.3M | 9,794 | 0.7% | 7 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $1.3M | 7,374 | 0.7% | 7 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $1.3M | 15,725 | 0.7% | 7 |
| SPDR SERIES TRUST | [XNTK](https://holderbook.com/stocks/XNTK/) | $1.2M | 11,871 | 0.7% | 7 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.2M | 12,450 | 0.7% | 7 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $1.1M | 5,876 | 0.6% | 7 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.1M | 3,652 | 0.6% | 7 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.1M | 10,891 | 0.6% | 7 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.1M | 8,871 | 0.6% | 7 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $1.1M | 4,901 | 0.6% | 7 |
| ISHARES TR | [IWS](https://holderbook.com/stocks/IWS/) | $1.0M | 13,607 | 0.6% | 7 |
| SPDR SERIES TRUST | [SLYG](https://holderbook.com/stocks/SLYG/) | $1.0M | 18,326 | 0.6% | 7 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $1.0M | 9,252 | 0.6% | 7 |
| ISHARES INC | [EWJ](https://holderbook.com/stocks/EWJ/) | $1.0M | 18,427 | 0.6% | 7 |
| ISHARES TR | [GOVT](https://holderbook.com/stocks/GOVT/) | $1.0M | 35,891 | 0.6% | 7 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $989.0K | 5,119 | 0.6% | 7 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $953.0K | 6,953 | 0.5% | 7 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $952.0K | 29,110 | 0.5% | 7 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $946.0K | 5,049 | 0.5% | 7 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $939.0K | 24,984 | 0.5% | 7 |
| PIMCO ETF TR | [MINT](https://holderbook.com/stocks/MINT/) | $884.0K | 8,696 | 0.5% | 5 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $883.0K | 29,209 | 0.5% | 7 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $854.0K | 5,100 | 0.5% | 7 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $827.0K | 2,042 | 0.5% | 7 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $814.0K | 8,882 | 0.5% | 7 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $807.0K | 9,041 | 0.5% | 7 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $805.0K | 9,685 | 0.5% | 7 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $805.0K | 6,718 | 0.5% | 7 |
| ISHARES TR | [PFF](https://holderbook.com/stocks/PFF/) | $786.0K | 22,681 | 0.4% | 7 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $781.0K | 3,117 | 0.4% | 7 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $781.0K | 11,927 | 0.4% | 7 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $779.0K | 10,075 | 0.4% | 7 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $779.0K | 14,095 | 0.4% | 7 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $779.0K | 8,543 | 0.4% | 7 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $752.0K | 3,143 | 0.4% | 2 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $722.0K | 24,917 | 0.4% | 7 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $718.0K | 3,043 | 0.4% | 7 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $702.0K | 5,857 | 0.4% | 7 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $688.0K | 15,395 | 0.4% | 7 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $685.0K | 1,098 | 0.4% | 7 |
| C H ROBINSON WORLDWIDE IN | [CHRW](https://holderbook.com/stocks/CHRW/) | $680.0K | 8,603 | 0.4% | 7 |
| PACER FDS TR | [PTLC](https://holderbook.com/stocks/PTLC/) | $680.0K | 25,000 | 0.4% | 2 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $671.0K | 4,967 | 0.4% | 7 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $669.0K | 19,998 | 0.4% | 7 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $662.0K | 13,914 | 0.4% | 1 |
| ROYAL GOLD INC | [RGLD](https://holderbook.com/stocks/RGLD/) | $655.0K | 5,272 | 0.4% | 7 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $647.0K | 17,575 | 0.4% | 5 |
| ANAVEX LIFE SCIENCES CORP | [AVXL](https://holderbook.com/stocks/AVXL/) | $640.0K | 130,000 | 0.4% | 4 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $639.0K | 26,910 | 0.4% | 7 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $618.0K | 2,495 | 0.4% | 7 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $613.0K | 11,116 | 0.3% | 7 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $602.0K | 2,514 | 0.3% | 7 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $602.0K | 9,763 | 0.3% | 2 |
| PAYCOM SOFTWARE INC | [PAYC](https://holderbook.com/stocks/PAYC/) | $594.0K | 1,919 | 0.3% | 7 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $580.0K | 3,898 | 0.3% | 3 |
| OLLIES BARGAIN OUTLET HLDGS | [OLLI](https://holderbook.com/stocks/OLLI/) | $573.0K | 5,871 | 0.3% | 7 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $569.0K | 6,240 | 0.3% | 7 |
| DOLLAR GEN CORP | [DG](https://holderbook.com/stocks/DG/) | $567.0K | 2,977 | 0.3% | 7 |
| WISDOMTREE TR | [CXSE](https://holderbook.com/stocks/CXSE/) | $565.0K | 5,887 | 0.3% | 7 |
| ISHARES INC | [EWG](https://holderbook.com/stocks/EWG/) | $563.0K | 20,752 | 0.3% | 1 |
| SPDR SERIES TRUST | [SLYV](https://holderbook.com/stocks/SLYV/) | $557.0K | 11,332 | 0.3% | 7 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $553.0K | 9,249 | 0.3% | 7 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $548.0K | 3,340 | 0.3% | 7 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $548.0K | 1,859 | 0.3% | 7 |
| BIOGEN INC | [BIIB](https://holderbook.com/stocks/BIIB/) | $524.0K | 1,957 | 0.3% | 7 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $520.0K | 11,627 | 0.3% | 7 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $514.0K | 13,089 | 0.3% | 7 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $506.0K | 7,220 | 0.3% | 7 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $504.0K | 1,598 | 0.3% | 7 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $499.0K | 7,687 | 0.3% | 7 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $487.0K | 8,576 | 0.3% | 6 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $480.0K | 12,316 | 0.3% | 7 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $459.0K | 7,170 | 0.3% | 7 |

## 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 |
|---|---|---|---|---|
| Q2 2020 | +17.9% | +19.6% | -1.7% | 100% |
| Q1 2020 | -17.7% | -19.9% | +2.2% | 100% |
| Q4 2019 | +8.8% | +8.5% | +0.3% | 94% |
| Q3 2019 | +1.4% | +1.3% | +0.1% | 100% |
| Q2 2019 | +2.7% | +3.7% | -1.0% | 100% |
| Q1 2019 | +11.8% | +13.0% | -1.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2020 | $176.0M | 213 |
| Q1 2020 | $166.5M | 751 |
| Q4 2019 | $200.2M | 816 |
| Q3 2019 | $195.8M | 219 |
| Q2 2019 | $148.4M | 791 |
| Q1 2019 | $135.6M | 817 |
| Q4 2018 | $104.1M | 727 |