# Annapolis Financial Services, LLC

> Institutional holdings reported to the SEC as of Q3 2024 on Form 13F. CIK 1843110. Source: https://holderbook.com/funds/1843110-annapolis-financial-services-llc/

- Reported value: $337.8M
- Positions: 486
- Weight of the ten largest: 43.3%
- Filed: 2024-10-16

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 |
|---|---|---|---|---|---|
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $24.0M | 358,364 | 7.1% | 12 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $16.8M | 63,607 | 5.0% | 16 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $16.5M | 94,389 | 4.9% | 16 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $14.8M | 52,384 | 4.4% | 16 |
| VANGUARD WORLD FD | [MGC](https://holderbook.com/stocks/MGC/) | $14.1M | 68,432 | 4.2% | 7 |
| VANGUARD INDEX FDS | [VOE](https://holderbook.com/stocks/VOE/) | $13.7M | 81,802 | 4.1% | 16 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $13.1M | 247,325 | 3.9% | 16 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $11.9M | 149,865 | 3.5% | 16 |
| SCHWAB STRATEGIC TR | [SCHP](https://holderbook.com/stocks/SCHP/) | $10.7M | 200,291 | 3.2% | 14 |
| DIMENSIONAL ETF TRUST | [DFAS](https://holderbook.com/stocks/DFAS/) | $10.5M | 161,391 | 3.1% | 14 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $9.8M | 152,317 | 2.9% | 12 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $8.9M | 44,080 | 2.6% | 16 |
| VANGUARD WORLD FD | [MGV](https://holderbook.com/stocks/MGV/) | $8.7M | 68,105 | 2.6% | 12 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $8.1M | 45,089 | 2.4% | 16 |
| DIMENSIONAL ETF TRUST | [DFGP](https://holderbook.com/stocks/DFGP/) | $7.9M | 142,761 | 2.3% | 4 |
| DIMENSIONAL ETF TRUST | [DFCF](https://holderbook.com/stocks/DFCF/) | $7.8M | 179,608 | 2.3% | 8 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $6.9M | 28,985 | 2.0% | 16 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $6.9M | 12,998 | 2.0% | 16 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $6.1M | 126,682 | 1.8% | 16 |
| DIMENSIONAL ETF TRUST | [DFSV](https://holderbook.com/stocks/DFSV/) | $5.4M | 175,498 | 1.6% | 8 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $5.3M | 9,108 | 1.6% | 16 |
| VANGUARD BD INDEX FDS | [VUSB](https://holderbook.com/stocks/VUSB/) | $5.1M | 101,307 | 1.5% | 8 |
| DIMENSIONAL ETF TRUST | [DFAU](https://holderbook.com/stocks/DFAU/) | $5.0M | 126,518 | 1.5% | 16 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $4.7M | 124,170 | 1.4% | 16 |
| VANGUARD INTL EQUITY INDEX F | [VSS](https://holderbook.com/stocks/VSS/) | $4.6M | 36,629 | 1.4% | 16 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $4.4M | 82,823 | 1.3% | 16 |
| SPDR SERIES TRUST | [SLYV](https://holderbook.com/stocks/SLYV/) | $4.1M | 47,629 | 1.2% | 16 |
| SPDR INDEX SHS FDS | [GWX](https://holderbook.com/stocks/GWX/) | $4.1M | 119,352 | 1.2% | 16 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $4.0M | 63,965 | 1.2% | 16 |
| SPDR SERIES TRUST | [MDYV](https://holderbook.com/stocks/MDYV/) | $4.0M | 49,866 | 1.2% | 16 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $3.5M | 41,937 | 1.0% | 16 |
| SPDR SERIES TRUST | [SPMD](https://holderbook.com/stocks/SPMD/) | $3.4M | 62,826 | 1.0% | 16 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $2.9M | 37,721 | 0.9% | 16 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $2.9M | 35,008 | 0.9% | 16 |
| SCHWAB STRATEGIC TR | [SCHV](https://holderbook.com/stocks/SCHV/) | $2.4M | 29,778 | 0.7% | 16 |
| DIMENSIONAL ETF TRUST | [DFAE](https://holderbook.com/stocks/DFAE/) | $2.3M | 83,847 | 0.7% | 15 |
| ISHARES TR | [IWS](https://holderbook.com/stocks/IWS/) | $2.2M | 16,644 | 0.7% | 16 |
| SPDR SERIES TRUST | [SPSM](https://holderbook.com/stocks/SPSM/) | $2.2M | 47,290 | 0.6% | 16 |
| ISHARES TR | [DSI](https://holderbook.com/stocks/DSI/) | $1.9M | 17,286 | 0.6% | 16 |
| SPDR SERIES TRUST | [SPTM](https://holderbook.com/stocks/SPTM/) | $1.9M | 26,639 | 0.6% | 16 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $1.7M | 30,317 | 0.5% | 16 |
| DIMENSIONAL ETF TRUST | [DFAI](https://holderbook.com/stocks/DFAI/) | $1.6M | 49,891 | 0.5% | 15 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $1.6M | 37,571 | 0.5% | 16 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $1.5M | 29,543 | 0.4% | 16 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.5M | 6,404 | 0.4% | 16 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.4M | 2,415 | 0.4% | 16 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $1.4M | 11,550 | 0.4% | 16 |
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $1.3M | 39,236 | 0.4% | 14 |
| J P MORGAN EXCHANGE TRADED F | [JPIE](https://holderbook.com/stocks/JPIE/) | $1.2M | 26,667 | 0.4% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.1M | 1,892 | 0.3% | 16 |
| DIMENSIONAL ETF TRUST | [DFSD](https://holderbook.com/stocks/DFSD/) | $981.1K | 20,551 | 0.3% | 10 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $956.6K | 2,223 | 0.3% | 16 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $913.4K | 1,985 | 0.3% | 16 |
| ISHARES TR | [SDG](https://holderbook.com/stocks/SDG/) | $881.8K | 10,400 | 0.3% | 16 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $834.0K | 11,103 | 0.2% | 16 |
| VANGUARD SCOTTSDALE FDS | [VMBS](https://holderbook.com/stocks/VMBS/) | $829.1K | 17,563 | 0.2% | 16 |
| AMERICAN CENTY ETF TR | [AVGE](https://holderbook.com/stocks/AVGE/) | $772.5K | 10,457 | 0.2% | 8 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $736.2K | 2,796 | 0.2% | 16 |
| DIMENSIONAL ETF TRUST | [DUHP](https://holderbook.com/stocks/DUHP/) | $731.2K | 21,463 | 0.2% | 9 |
| VANGUARD CHARLOTTE FDS | [BNDX](https://holderbook.com/stocks/BNDX/) | $721.0K | 14,339 | 0.2% | 16 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $691.2K | 1 | 0.2% | 8 |
| AMERICAN CENTY ETF TR | [AVUV](https://holderbook.com/stocks/AVUV/) | $649.7K | 6,771 | 0.2% | 14 |
| DIMENSIONAL ETF TRUST | [DFIP](https://holderbook.com/stocks/DFIP/) | $552.2K | 13,061 | 0.2% | 9 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $540.0K | 8,571 | 0.2% | 16 |
| PROSHARES TR | [SPXN](https://holderbook.com/stocks/SPXN/) | $529.9K | 8,556 | 0.2% | 16 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $496.3K | 1,173 | 0.1% | 16 |
| ISHARES TR | [IJS](https://holderbook.com/stocks/IJS/) | $491.1K | 4,562 | 0.1% | 16 |
| AMERICAN CENTY ETF TR | [AVUS](https://holderbook.com/stocks/AVUS/) | $475.0K | 4,992 | 0.1% | 12 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $467.8K | 2,511 | 0.1% | 16 |
| ISHARES TR | [IGV](https://holderbook.com/stocks/IGV/) | $458.5K | 5,130 | 0.1% | 16 |
| PNC FINL SVCS GROUP INC | [PNC](https://holderbook.com/stocks/PNC/) | $450.7K | 2,438 | 0.1% | 16 |
| SCHWAB STRATEGIC TR | [SCHC](https://holderbook.com/stocks/SCHC/) | $431.3K | 11,193 | 0.1% | 16 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $405.2K | 2,424 | 0.1% | 16 |
| DIMENSIONAL ETF TRUST | [DFAR](https://holderbook.com/stocks/DFAR/) | $380.5K | 14,840 | 0.1% | 9 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $339.2K | 837 | 0.1% | 16 |
| DIMENSIONAL ETF TRUST | [DFUS](https://holderbook.com/stocks/DFUS/) | $329.7K | 5,301 | 0.1% | 14 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $321.1K | 3,977 | 0.1% | 16 |
| AMERICAN CENTY ETF TR | [AVDV](https://holderbook.com/stocks/AVDV/) | $319.9K | 4,527 | 0.1% | 14 |
| DIMENSIONAL ETF TRUST | [DFNM](https://holderbook.com/stocks/DFNM/) | $316.5K | 6,520 | 0.1% | 9 |
| SPDR SERIES TRUST | [XSD](https://holderbook.com/stocks/XSD/) | $313.8K | 1,306 | 0.1% | 5 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $300.8K | 1,426 | 0.1% | 16 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $294.4K | 332 | 0.1% | 16 |
| HA SUSTAINABLE INFRA CAP INC | [HASI](https://holderbook.com/stocks/HASI/) | $294.3K | 8,537 | 0.1% | 16 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $284.7K | 1,261 | 0.1% | 6 |
| LULULEMON ATHLETICA INC | [LULU](https://holderbook.com/stocks/LULU/) | $271.4K | 1,000 | 0.1% | 16 |
| DIMENSIONAL ETF TRUST | [DIHP](https://holderbook.com/stocks/DIHP/) | $263.2K | 9,502 | 0.1% | 9 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $233.5K | 5,885 | 0.1% | 16 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $230.3K | 2,725 | 0.1% | 16 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $227.8K | 8,435 | 0.1% | 13 |
| PRICE T ROWE GROUP INC | [TROW](https://holderbook.com/stocks/TROW/) | $227.1K | 2,085 | 0.1% | 2 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $224.3K | 2,545 | 0.1% | 12 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $224.0K | 2,846 | 0.1% | 16 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $222.2K | 1,122 | 0.1% | 15 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $220.7K | 588 | 0.1% | 16 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $195.2K | 1,661 | 0.1% | 16 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $189.6K | 1,099 | 0.1% | 16 |
| INVESCO EXCHANGE TRADED FD T | [PFM](https://holderbook.com/stocks/PFM/) | $186.2K | 4,000 | 0.1% | 16 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $174.9K | 747 | 0.1% | 16 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $173.8K | 715 | 0.1% | 16 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $169.7K | 1,023 | 0.1% | 16 |

## 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 2024 | +6.9% | +5.4% | +1.5% | 100% |
| Q2 2024 | -0.7% | +4.0% | -4.7% | 100% |
| Q1 2024 | +5.5% | +10.0% | -4.6% | 100% |
| Q4 2023 | +9.3% | +11.2% | -1.9% | 100% |
| Q3 2023 | -3.5% | -3.6% | +0.1% | 100% |
| Q2 2023 | +3.3% | +8.3% | -5.0% | 100% |
| Q1 2023 | +4.0% | +7.0% | -3.0% | 100% |
| Q4 2022 | +8.2% | +7.1% | +1.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2024 | $337.8M | 486 |
| Q2 2024 | $308.7M | 364 |
| Q1 2024 | $303.7M | 355 |
| Q4 2023 | $399.2M | 465 |
| Q3 2023 | $346.3M | 480 |
| Q2 2023 | $351.0M | 487 |
| Q1 2023 | $329.6M | 452 |
| Q4 2022 | $308.5M | 434 |
| Q3 2022 | $272.4M | 501 |
| Q2 2022 | $275.5M | 432 |
| Q1 2022 | $307.5M | 450 |
| Q4 2021 | $321.8M | 456 |