# PFS INVESTMENTS INC.

> Institutional holdings reported to the SEC as of Q2 2023 on Form 13F. CIK 354497. Source: https://holderbook.com/funds/354497-pfs-investments-inc/

- Reported value: $6.1B
- Positions: 512
- Weight of the ten largest: 21.6%
- Filed: 2023-08-14

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 | [MBB](https://holderbook.com/stocks/MBB/) | $187.5M | 2,010,319 | 3.1% | 19 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $168.8M | 5,188,322 | 2.8% | 10 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $138.0M | 2,262,024 | 2.3% | 19 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $135.6M | 892,329 | 2.2% | 5 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $133.7M | 300,060 | 2.2% | 19 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $130.1M | 3,010,747 | 2.1% | 19 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $121.5M | 900,552 | 2.0% | 19 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $114.8M | 3,339,872 | 1.9% | 15 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $104.2M | 281,931 | 1.7% | 17 |
| INVESCO EXCH TRD SLF IDX FD | [OMFL](https://holderbook.com/stocks/OMFL/) | $87.7M | 1,791,135 | 1.4% | 5 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $85.5M | 571,391 | 1.4% | 19 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $80.4M | 1,452,338 | 1.3% | 7 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $80.0M | 1,185,342 | 1.3% | 19 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $79.1M | 1,903,442 | 1.3% | 18 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $71.6M | 1,384,382 | 1.2% | 18 |
| INVESCO EXCHANGE TRADED FD T | [SPHQ](https://holderbook.com/stocks/SPHQ/) | $70.9M | 1,404,852 | 1.2% | 2 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $69.9M | 80,531 | 1.1% | 18 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $66.0M | 887,948 | 1.1% | 16 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $60.7M | 417,575 | 1.0% | 18 |
| INVESCO EXCHANGE TRADED FD T | [RPV](https://holderbook.com/stocks/RPV/) | $58.0M | 747,927 | 0.9% | 2 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $53.7M | 299,718 | 0.9% | 18 |
| ISHARES TR | [SHYG](https://holderbook.com/stocks/SHYG/) | $53.1M | 1,281,006 | 0.9% | 17 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $52.8M | 1,420,970 | 0.9% | 17 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $52.4M | 819,878 | 0.9% | 18 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $50.5M | 999,044 | 0.8% | 18 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $49.8M | 369,535 | 0.8% | 18 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $48.7M | 632,028 | 0.8% | 14 |
| INVESCO EXCH TRADED FD TR II | [SPLV](https://holderbook.com/stocks/SPLV/) | $48.4M | 770,586 | 0.8% | 9 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $48.3M | 307,245 | 0.8% | 18 |
| SEMPRA | [SRE](https://holderbook.com/stocks/SRE/) | $47.9M | 329,062 | 0.8% | 13 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $46.8M | 350,045 | 0.8% | 6 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $46.3M | 2,903,250 | 0.8% | 18 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $46.1M | 135,363 | 0.8% | 18 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $45.6M | 275,788 | 0.7% | 18 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $45.4M | 233,997 | 0.7% | 17 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $45.1M | 145,071 | 0.7% | 17 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $44.1M | 973,449 | 0.7% | 18 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $43.0M | 451,146 | 0.7% | 18 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $42.1M | 609,582 | 0.7% | 18 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $42.0M | 836,316 | 0.7% | 19 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $41.1M | 89,195 | 0.7% | 18 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $40.8M | 450,921 | 0.7% | 3 |
| FIRST TR EXCHNG TRADED FD VI | [FIXD](https://holderbook.com/stocks/FIXD/) | $39.5M | 894,569 | 0.6% | 16 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $39.5M | 57,110 | 0.6% | 17 |
| M & T BK CORP | [MTB](https://holderbook.com/stocks/MTB/) | $38.9M | 314,323 | 0.6% | 2 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $38.5M | 360,653 | 0.6% | 19 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $37.5M | 364,152 | 0.6% | 19 |
| INVESCO EXCH TRADED FD TR II | [GOVI](https://holderbook.com/stocks/GOVI/) | $36.0M | 1,233,073 | 0.6% | 12 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $34.9M | 395,643 | 0.6% | 17 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $33.7M | 308,571 | 0.6% | 2 |
| INVESCO EXCH TRADED FD TR II | [BAB](https://holderbook.com/stocks/BAB/) | $33.6M | 1,264,891 | 0.5% | 19 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $32.5M | 187,300 | 0.5% | 15 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $32.4M | 445,460 | 0.5% | 19 |
| INVESCO EXCH TRADED FD TR II | [PXF](https://holderbook.com/stocks/PXF/) | $32.3M | 717,398 | 0.5% | 2 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $32.2M | 123,120 | 0.5% | 19 |
| INVESCO EXCH TRD SLF IDX FD | [OMFS](https://holderbook.com/stocks/OMFS/) | $31.4M | 866,963 | 0.5% | 2 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $31.0M | 885,248 | 0.5% | 14 |
| ISHARES TR | [USHY](https://holderbook.com/stocks/USHY/) | $30.5M | 864,077 | 0.5% | 5 |
| EVERGY INC | [EVRG](https://holderbook.com/stocks/EVRG/) | $30.3M | 517,887 | 0.5% | 12 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $30.2M | 309,114 | 0.5% | 18 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $29.9M | 276,794 | 0.5% | 19 |
| SSGA ACTIVE ETF TR | [TOTL](https://holderbook.com/stocks/TOTL/) | $29.3M | 721,416 | 0.5% | 3 |
| TYSON FOODS INC | [TSN](https://holderbook.com/stocks/TSN/) | $29.1M | 571,013 | 0.5% | 14 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $28.9M | 60,118 | 0.5% | 18 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $28.6M | 287,510 | 0.5% | 19 |
| INVESCO EXCH TRADED FD TR II | [EELV](https://holderbook.com/stocks/EELV/) | $28.0M | 1,190,028 | 0.5% | 9 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $27.3M | 168,044 | 0.4% | 19 |
| INVESCO EXCH TRADED FD TR II | [IFLN](https://holderbook.com/stocks/IFLN/) | $27.0M | 1,543,592 | 0.4% | 3 |
| ISHARES TR | [AAXJ](https://holderbook.com/stocks/AAXJ/) | $27.0M | 405,874 | 0.4% | 2 |
| VANECK ETF TRUST | [ANGL](https://holderbook.com/stocks/ANGL/) | $26.8M | 965,987 | 0.4% | 3 |
| INVESCO EXCH TRADED FD TR II | [XMLV](https://holderbook.com/stocks/XMLV/) | $26.8M | 518,329 | 0.4% | 9 |
| PIMCO ETF TR | [BOND](https://holderbook.com/stocks/BOND/) | $26.6M | 289,994 | 0.4% | 2 |
| INVESCO EXCH TRADED FD TR II | [IDLV](https://holderbook.com/stocks/IDLV/) | $26.5M | 968,125 | 0.4% | 9 |
| INVESCO EXCH TRD SLF IDX FD | [IIGD](https://holderbook.com/stocks/IIGD/) | $26.4M | 1,110,591 | 0.4% | 16 |
| INVESCO EXCHANGE TRADED FD T | [PRFZ](https://holderbook.com/stocks/PRFZ/) | $26.1M | 151,921 | 0.4% | 2 |
| ISHARES TR | [HEFA](https://holderbook.com/stocks/HEFA/) | $25.9M | 834,154 | 0.4% | 19 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $25.7M | 196,976 | 0.4% | 15 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $25.0M | 308,766 | 0.4% | 19 |
| INVESCO ACTIVELY MANAGED EXC | [GTO](https://holderbook.com/stocks/GTO/) | $24.3M | 523,033 | 0.4% | 2 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $24.1M | 841,339 | 0.4% | 17 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $24.1M | 85,001 | 0.4% | 12 |
| ISHARES TR | [MTUM](https://holderbook.com/stocks/MTUM/) | $23.3M | 161,364 | 0.4% | 19 |
| ISHARES TR | [IEI](https://holderbook.com/stocks/IEI/) | $23.1M | 200,255 | 0.4% | 5 |
| INVESCO EXCH TRADED FD TR II | [PXH](https://holderbook.com/stocks/PXH/) | $23.1M | 1,237,636 | 0.4% | 2 |
| ISHARES TR | [EFAV](https://holderbook.com/stocks/EFAV/) | $22.0M | 325,353 | 0.4% | 16 |
| GOLDMAN SACHS ETF TR | [GSIE](https://holderbook.com/stocks/GSIE/) | $20.1M | 642,586 | 0.3% | 12 |
| CRH PLC | [CRHXXXX](https://holderbook.com/stocks/CRHXXXX/) | $20.1M | 361,290 | 0.3% | 1 |
| VANECK ETF TRUST | [HYD](https://holderbook.com/stocks/HYD/) | $20.0M | 389,352 | 0.3% | 19 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $19.8M | 83,391 | 0.3% | 17 |
| SPDR SERIES TRUST | [SPAB](https://holderbook.com/stocks/SPAB/) | $19.7M | 778,200 | 0.3% | 19 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $19.2M | 221,896 | 0.3% | 2 |
| VANECK ETF TRUST | [MOAT](https://holderbook.com/stocks/MOAT/) | $18.3M | 229,333 | 0.3% | 6 |
| DBX ETF TR | [HYLB](https://holderbook.com/stocks/HYLB/) | $18.2M | 527,551 | 0.3% | 19 |
| INVESCO EXCH TRADED FD TR II | [BKLN](https://holderbook.com/stocks/BKLN/) | $18.2M | 864,889 | 0.3% | 19 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $17.9M | 46,949 | 0.3% | 2 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $17.7M | 148,175 | 0.3% | 15 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $17.7M | 358,676 | 0.3% | 12 |
| JANUS DETROIT STR TR | [JMBS](https://holderbook.com/stocks/JMBS/) | $17.5M | 382,757 | 0.3% | 14 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $17.0M | 173,771 | 0.3% | 13 |
| DOW HLDGS INC | [DOW](https://holderbook.com/stocks/DOW/) | $16.6M | 312,074 | 0.3% | 6 |

## 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 2023 | +2.7% | +8.3% | -5.6% | 100% |
| Q1 2023 | +3.0% | +7.0% | -4.1% | 99% |
| Q4 2022 | +6.3% | +7.1% | -0.8% | 100% |
| Q3 2022 | -5.4% | -5.3% | -0.0% | 100% |
| Q2 2022 | -11.9% | -16.5% | +4.6% | 100% |
| Q1 2022 | -4.2% | -4.9% | +0.7% | 100% |
| Q4 2021 | +5.8% | +10.7% | -4.9% | 95% |
| Q3 2021 | -1.3% | +0.3% | -1.5% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2023 | $6.1B | 512 |
| Q1 2023 | $5.8B | 503 |
| Q4 2022 | $5.4B | 445 |
| Q3 2022 | $5.5B | 420 |
| Q2 2022 | $5.0B | 414 |
| Q1 2022 | $5.3B | 409 |
| Q4 2021 | $5.2B | 394 |
| Q3 2021 | $4.8B | 374 |
| Q2 2021 | $4.4B | 369 |
| Q1 2021 | $3.9B | 350 |
| Q4 2020 | $3.6B | 283 |
| Q3 2020 | $3.0B | 276 |