Freestate Advisors LLC 13F Filing History & Holdings

CIK: 0001660328

Momentum followerDiversified strategySector-focused

Total reported value

$133.9M

Reporting period: 2026-06-30 · Number of holdings: 42

Freestate Advisors LLC disclosed 42 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $133.9M and a quarterly turnover rate of 8.2%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "F"

Personality snowflake

Concentration: 34.18
Portfolio Stability: 8.16
Momentum/Contrarian: 100
Sector conviction: 93.39
Diversification: 84
Sizing Uniformity: 83.72

Freestate Advisors LLC's disclosed holdings carry a Herfindahl concentration index of 0.085 — mathematically equivalent to about 12 equally-sized positions, well below its 42 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 1.63), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Sector classification currently covers about 4% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.

Recent moves

Add VOO
+1.7%　$2.6M
Trim AGG
+1.4%　$150.1K
Add SGOV
+76.0%　$735.0K
Trim IGIB
+0.5%　$39.7K
Add SCHF
-0.8%　$1.6M
Trim SHYG
+1.4%　$180.5K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SPYV	Ss Spdr P S&p 500 Value ETF	ETF-Large Cap & Growth	14.77%	-0.39%	-2.94%
2	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	13.24%	+1.12%	+1.74%
3	SCHF	Schwab Intl Equity ETF	ETF-Other	12.30%	+0.44%	-0.83%
4	AGG	Ishares Core U.s. Aggregate	ETF-Other	10.14%	-0.59%	+1.42%
5	SHYG	Ishares 0-5 Yr Hy CORP Bond	ETF-Corp Bonds	8.40%	-0.44%	+1.39%
6	IGIB	Ishares 5-10y Inv Grade CORP	ETF-Corp Bonds	7.17%	-0.47%	+0.51%
7	AVUV	Avantis US Small Cap Value	ETF-Small Cap	5.84%	+0.27%	-0.64%
8	SPIB	Ss Spdr P Int C CORP ETF	ETF-Other	3.85%	-0.12%	+3.94%
9	BIL	Ss Spdr Bb 1-3m T-bill ETF	ETF-Gov Bonds	2.81%	-0.28%	-2.61%
10	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	2.77%	+0.21%	+0.67%
11	SCHD	Schwab US Dvd Equity ETF	ETF-Other	2.42%	-0.09%	+0.11%
12	LVHI	Franklin International Low V	ETF-Other	1.75%	-0.09%	+1.74%
13	CGSD	Cap Group Short Duration	ETF-Other	1.56%	+0.02%	+9.10%
14	SGOV	Ishares 0-3 Month Treasury B	ETF-Gov Bonds	1.27%	+0.50%	+75.99%
15	SHY	Ishares 1-3 Year Treasury Bo	ETF-Gov Bonds	1.10%	-0.08%	+0.42%
16	JAAA	Janus Henderson Aaa Clo ETF	ETF-Other	1.07%	-0.06%	+1.06%
17	DGRO	Ishares Core Dividend Growth	ETF-Other	0.97%	+0.01%	+0.37%
18	AAPL	Apple INC	Stock-Tech	0.95%	+0.06%	+0.11%
19	QGRO	American Century US Quality	ETF-Other	0.85%	+0.04%	+0.05%
20	CGDV	Cap Group Dividend Value	ETF-Other	0.83%	+0.09%	+3.89%
21	MMM	3m Co	Stock-Industrials	0.50%	+0.02%	—
22	VWO	Vanguard Ftse Emerging Marke	ETF-Emerging Markets	0.47%	+0.02%	+1.81%
23	IBM	Intl Business Machines CORP	Stock-Tech	0.45%	+0.04%	—
24	CGCB	Cap Group Core Bond	ETF-Other	0.40%	-0.03%	+0.13%
25	DIA	Ss Spdr Dow Jones Indus Avg	ETF-Large Cap & Growth	0.40%	+0.02%	+0.29%
26	CGMS	Cap Group US Multi-sect Bond	ETF-Other	0.35%	-0.02%	+1.05%
27	JPM	Jpmorgan Chase & Co	Stock-Financials	0.35%	+0.01%	-2.26%
28	AVLV	Avantis US Large Cap Value	ETF-Large Cap & Growth	0.34%	+0.34%	NEW
29	IQLT	Ishares Msci International Q	ETF-Other	0.33%	—	+1.74%
30	VZ	Verizon Communications INC	Stock-Comm Services	0.29%	-0.08%	+0.02%
31	TMUS	T-mobile US INC	Stock-Comm Services	0.29%	-0.06%	+9.60%
32	DE	Deere & Co	Stock-Industrials	0.28%	+0.02%	+0.35%
33	T	At&t INC	Stock-Comm Services	0.26%	-0.12%	+0.04%
34	FDHY	Fidelity Enh Hi Yld ETF	ETF-Other	0.22%	-0.01%	+1.30%
35	AVIV	Avantis Int Lrg Cap Val ETF	ETF-Other	0.20%	—	+1.12%
36	EDV	Vanguard Extended Dur Treas	ETF-Other	0.18%	-0.02%	+0.24%
37	VGSH	Vanguard Short-term Treasury	ETF-Gov Bonds	0.18%	-0.01%	+4.98%
38	RFI	Cohen & Steers Tot Ret Rlty	Stock-Other	0.17%	-0.01%	+2.12%
39	NVDA	Nvidia CORP	Stock-Tech	0.16%	+0.16%	NEW
40	FSCO	Fs Credit Opportunities CORP	Stock-Other	0.05%	-0.01%	+3.51%
41	ECC	Eagle Point Credit Co	Stock-Other	0.04%	—	+4.53%
42	CCIF	Carlyle Credit Income Fund	Stock-Other	0.03%	—	+3.71%

Portfolio Performance

Performance for Q3 2026

+2.3%

Performance Last 4 Quarters

+15.5%

Based on 74% of reported portfolio value with available pricing

Stdev: +7%
Beta: +0.47
Alpha: +5%
Max Drawdown: -3.8%
Annualized Perf: +12.4%
Batting Avg vs S&P: +60%
Sortino: +3.31
Stutzer: +0.49
Treynor: +0.25
Sterling: +0.9
Calmar: +3.3
Information Ratio: -0.38
Tracking Error: +7.7%
Stdev Down: +3.6%
Winning Months %: +80%
Losing Months %: +20%
Best 12 Months: +20.3%
Worst 12 Months: +12.3%
Efficiency Ratio: +0.6
Sharpe: +1.72
Stdev Sectors: +12.4%
Skewness: -0.51
Kurtosis: +0.16
Upside Potential: +4.63

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-06-30	42	$133.9M	8	1SPYV 2VOO 3SCHF Top holdings2026-06-30 1.SPYV 2.VOO 3.SCHF 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.SPIB 9.BIL 10.SPY
2026-03-31	42	$125.1M	6	1SPYV 2VOO 3SCHF Top holdings2026-03-31 1.SPYV 2.VOO 3.SCHF 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.SPIB 9.BIL 10.SPY
2025-12-31	41	$123.1M	7	1SPYV 2VOO 3SCHF Top holdings2025-12-31 1.SPYV 2.VOO 3.SCHF 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.SPIB 9.BIL 10.SPY
2025-09-30	42	$119.2M	26	1SPYV 2VOO 3SCHF Top holdings2025-09-30 1.SPYV 2.VOO 3.SCHF 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.BIL 9.SPY 10.SPIB
2025-06-30	46	$112.0M	0	1SPYV 2SCHF 3VOO Top holdings2025-06-30 1.SPYV 2.SCHF 3.VOO 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.BIL 9.SPIB 10.SCHD
2025-03-31	38	$100.8M	100	1SPYV 2SCHF 3VOO Top holdings2025-03-31 1.SPYV 2.SCHF 3.VOO 4.SHYG 5.IGIB 6.SPY 7.AGG 8.AVUV 9.BIL 10.SCHD
2024-12-31	37	$96.7M	0	1SPYV 2IGIB 3SCHF Top holdings2024-12-31 1.SPYV 2.IGIB 3.SCHF 4.SPY 5.AGG 6.SHYG 7.VOO 8.BIL 9.SHY 10.AVUV
2024-09-30	36	$96.1M	0	1SPYV 2IGIB 3SCHF Top holdings2024-09-30 1.SPYV 2.IGIB 3.SCHF 4.SPY 5.AGG 6.SHYG 7.BIL 8.VOO 9.SHY 10.SCHD
2021-09-30	8	$88.2M	0	1SPYG 2SPYV 3SPY Top holdings2021-09-30 1.SPYG 2.SPYV 3.SPY 4.VTIP 5.HYG 6.IEF 7.IGIB 8.AIA
2021-06-30	8	$88.5M	100	1SPYG 2SPYV 3SPY Top holdings2021-06-30 1.SPYG 2.SPYV 3.SPY 4.VTIP 5.HYG 6.IEF 7.IGIB 8.AIA
2021-03-31	8	$85.7M	100	1HYG 2SPYV 3SPYG Top holdings2021-03-31 1.HYG 2.SPYV 3.SPYG 4.QQQ 5.IWM 6.IEF 7.AIA 8.IGIB
2020-12-31	7	$93.8M	83	1SPY 2AGG 3IEF Top holdings2020-12-31 1.SPY 2.AGG 3.IEF 4.HYG 5.IEI 6.SHY 7.QQQ
2020-09-30	6	$89.4M	5	1AGG 2SPY 3TLT Top holdings2020-09-30 1.AGG 2.SPY 3.TLT 4.SHY 5.HYG 6.IEI
2020-06-30	6	$90.4M	100	1AGG 2SPY 3TLT Top holdings2020-06-30 1.AGG 2.SPY 3.TLT 4.SHY 5.HYG 6.IEI
2020-03-31	2	$59.2M	100	1SHY 2IEI Top holdings2020-03-31 1.SHY 2.IEI
2019-12-31	4	$128.4M	13	1SPY 2TLT 3LQD Top holdings2019-12-31 1.SPY 2.TLT 3.LQD 4.SHY
2019-09-30	4	$133.8M	89	1SPY 2TLT 3IGIB Top holdings2019-09-30 1.SPY 2.TLT 3.IGIB 4.SHY
2019-06-30	7	$118.1M	69	1SPY 2IGIB 3HYG Top holdings2019-06-30 1.SPY 2.IGIB 3.HYG 4.QQQ 5.MTUM 6.MDY 7.DVY
2019-03-31	4	$109.9M	100	1SPY 2TLT 3IGIB Top holdings2019-03-31 1.SPY 2.TLT 3.IGIB 4.USMV
2018-12-31	4	$103.6M	—	1USMV 2IGIB 3TLH Top holdings2018-12-31 1.USMV 2.IGIB 3.TLH 4.AGG

Holding changes this quarter

Freestate Advisors LLC's most significant position changes for 2026-06-30: New buy: Avantis US Large Cap Value (AVLV); Sold out: Dow INC (DOW); Sold out: Amazon.com INC (AMZN); New buy: Nvidia CORP (NVDA); Add: Vanguard S&p 500 ETF (VOO) — shares +1.74%.

Position changes disclosed by Freestate Advisors LLC for the quarter ending 2026-06-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	VOO	Vanguard S&p 500 ETF	+1.1%	+1.74%	Add
2	SGOV	Ishares 0-3 Month Treasury B	+0.5%	+75.99%	Add
3	SCHF	Schwab Intl Equity ETF	+0.4%	-0.83%	Trim
4	AVLV	Avantis US Large Cap Value	+0.3%	NEW	New buy
5	AVUV	Avantis US Small Cap Value	+0.3%	-0.64%	Trim
6	SPY	Ss Spdr S&p 500 ETF Trust-us	+0.2%	+0.67%	Add
7	NVDA	Nvidia CORP	+0.2%	NEW	New buy
8	CGDV	Cap Group Dividend Value	+0.1%	+3.89%	Add
9	AAPL	Apple INC	+0.1%	+0.11%	Add
10	QGRO	American Century US Quality	0%	+0.05%	Add
11	IBM	Intl Business Machines CORP	0%	—	Unchanged
12	CGSD	Cap Group Short Duration	0%	+9.10%	Add
13	VWO	Vanguard Ftse Emerging Marke	0%	+1.81%	Add
14	MMM	3m Co	0%	—	Unchanged
15	DIA	Ss Spdr Dow Jones Indus Avg	0%	+0.29%	Add
16	DE	Deere & Co	0%	+0.35%	Add
17	DGRO	Ishares Core Dividend Growth	0%	+0.37%	Add
18	JPM	Jpmorgan Chase & Co	0%	-2.26%	Trim
19	IQLT	Ishares Msci International Q	—	+1.74%	Add
20	AVIV	Avantis Int Lrg Cap Val ETF	—	+1.12%	Add
21	CCIF	Carlyle Credit Income Fund	—	+3.71%	Add
22	ECC	Eagle Point Credit Co	—	+4.53%	Add
23	VGSH	Vanguard Short-term Treasury	0%	+4.98%	Add
24	RFI	Cohen & Steers Tot Ret Rlty	0%	+2.12%	Add
25	FDHY	Fidelity Enh Hi Yld ETF	0%	+1.30%	Add
26	FSCO	Fs Credit Opportunities CORP	0%	+3.51%	Add
27	CGMS	Cap Group US Multi-sect Bond	0%	+1.05%	Add
28	EDV	Vanguard Extended Dur Treas	0%	+0.24%	Add
29	CGCB	Cap Group Core Bond	0%	+0.13%	Add
30	TMUS	T-mobile US INC	-0.1%	+9.60%	Add
31	JAAA	Janus Henderson Aaa Clo ETF	-0.1%	+1.06%	Add
32	VZ	Verizon Communications INC	-0.1%	+0.02%	Add
33	SHY	Ishares 1-3 Year Treasury Bo	-0.1%	+0.42%	Add
34	SCHD	Schwab US Dvd Equity ETF	-0.1%	+0.11%	Add
35	LVHI	Franklin International Low V	-0.1%	+1.74%	Add
36	SPIB	Ss Spdr P Int C CORP ETF	-0.1%	+3.94%	Add
37	T	At&t INC	-0.1%	+0.04%	Add
38	AMZN	Amazon.com INC	-0.2%	EXIT	Sold out
39	DOW	Dow INC	-0.2%	EXIT	Sold out
40	BIL	Ss Spdr Bb 1-3m T-bill ETF	-0.3%	-2.61%	Trim
41	SPYV	Ss Spdr P S&p 500 Value ETF	-0.4%	-2.94%	Trim
42	SHYG	Ishares 0-5 Yr Hy CORP Bond	-0.4%	+1.39%	Add
43	IGIB	Ishares 5-10y Inv Grade CORP	-0.5%	+0.51%	Add
44	AGG	Ishares Core U.s. Aggregate	-0.6%	+1.42%	Add

Filing History

Period	Filed	Type	EDGAR
2026-06-30	2026-07-09	13F-HR	View on EDGAR
2026-03-31	2026-04-09	13F-HR	View on EDGAR
2025-12-31	2026-01-12	13F-HR	View on EDGAR
2025-09-30	2025-10-07	13F-HR	View on EDGAR
2025-06-30	2025-07-16	13F-HR	View on EDGAR
2025-03-31	2025-04-09	13F-HR	View on EDGAR
2024-12-31	2025-01-14	13F-HR	View on EDGAR
2024-09-30	2024-10-09	13F-HR	View on EDGAR
2021-09-30	2021-10-12	13F-HR	View on EDGAR
2021-06-30	2021-07-12	13F-HR	View on EDGAR
2021-03-31	2021-04-13	13F-HR	View on EDGAR
2020-12-31	2021-02-01	13F-HR	View on EDGAR
2020-09-30	2020-10-28	13F-HR	View on EDGAR
2020-06-30	2020-07-20	13F-HR	View on EDGAR
2020-03-31	2020-04-27	13F-HR	View on EDGAR
2019-12-31	2020-01-07	13F-HR	View on EDGAR
2019-09-30	2019-10-10	13F-HR	View on EDGAR
2019-06-30	2019-08-19	13F-HR	View on EDGAR
2019-03-31	2019-05-03	13F-HR	View on EDGAR
2018-12-31	2019-04-04	13F-HR	View on EDGAR

FAQ

What is Freestate Advisors LLC and what type of investor is it?

Freestate Advisors LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $133.9M, spread across 42 disclosed positions.

What are Freestate Advisors LLC's largest equity positions?

Based on the latest 13F filing, Freestate Advisors LLC's top holdings by market value are: 1. Ss Spdr P S&p 500 Value ETF (SPYV) — $19.8M (14.8%) 2. Vanguard S&p 500 ETF (VOO) — $17.7M (13.2%) 3. Schwab Intl Equity ETF (SCHF) — $16.5M (12.3%) 4. Ishares Core U.s. Aggregate (AGG) — $13.6M (10.1%) 5. Ishares 0-5 Yr Hy CORP Bond (SHYG) — $11.2M (8.4%)

What changes did Freestate Advisors LLC make in its most recent portfolio filing?

In the latest reported quarter, Freestate Advisors LLC made 42 notable position adjustments: 2 new positions were initiated, 33 existing holdings were added to, 5 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Avantis US Large Cap Value (AVLV); Sold out: Dow INC (DOW); Sold out: Amazon.com INC (AMZN); New buy: Nvidia CORP (NVDA); Add: Vanguard S&p 500 ETF (VOO) — shares +1.74%

What sectors does Freestate Advisors LLC focus on?

Freestate Advisors LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 44.4% • Communication Services: 23.8% • Industrials: 22.0% • Financials: 9.9%

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Freestate Advisors LLC 13F Filing History & Holdings

CIK: 0001660328

Momentum followerDiversified strategySector-focused

Total reported value

$133.9M

Reporting period: 2026-06-30 · Number of holdings: 42

Freestate Advisors LLC disclosed 42 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $133.9M and a quarterly turnover rate of 8.2%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "F"

Personality snowflake

Concentration: 34.18
Portfolio Stability: 8.16
Momentum/Contrarian: 100
Sector conviction: 93.39
Diversification: 84
Sizing Uniformity: 83.72

Position sizes vary widely across the portfolio (a coefficient of variation of 1.63), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Add VOO
+1.7%　$2.6M
Trim AGG
+1.4%　$150.1K
Add SGOV
+76.0%　$735.0K
Trim IGIB
+0.5%　$39.7K
Add SCHF
-0.8%　$1.6M
Trim SHYG
+1.4%　$180.5K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SPYV	Ss Spdr P S&p 500 Value ETF	ETF-Large Cap & Growth	14.77%	-0.39%	-2.94%
2	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	13.24%	+1.12%	+1.74%
3	SCHF	Schwab Intl Equity ETF	ETF-Other	12.30%	+0.44%	-0.83%
4	AGG	Ishares Core U.s. Aggregate	ETF-Other	10.14%	-0.59%	+1.42%
5	SHYG	Ishares 0-5 Yr Hy CORP Bond	ETF-Corp Bonds	8.40%	-0.44%	+1.39%
6	IGIB	Ishares 5-10y Inv Grade CORP	ETF-Corp Bonds	7.17%	-0.47%	+0.51%
7	AVUV	Avantis US Small Cap Value	ETF-Small Cap	5.84%	+0.27%	-0.64%
8	SPIB	Ss Spdr P Int C CORP ETF	ETF-Other	3.85%	-0.12%	+3.94%
9	BIL	Ss Spdr Bb 1-3m T-bill ETF	ETF-Gov Bonds	2.81%	-0.28%	-2.61%
10	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	2.77%	+0.21%	+0.67%
11	SCHD	Schwab US Dvd Equity ETF	ETF-Other	2.42%	-0.09%	+0.11%
12	LVHI	Franklin International Low V	ETF-Other	1.75%	-0.09%	+1.74%
13	CGSD	Cap Group Short Duration	ETF-Other	1.56%	+0.02%	+9.10%
14	SGOV	Ishares 0-3 Month Treasury B	ETF-Gov Bonds	1.27%	+0.50%	+75.99%
15	SHY	Ishares 1-3 Year Treasury Bo	ETF-Gov Bonds	1.10%	-0.08%	+0.42%
16	JAAA	Janus Henderson Aaa Clo ETF	ETF-Other	1.07%	-0.06%	+1.06%
17	DGRO	Ishares Core Dividend Growth	ETF-Other	0.97%	+0.01%	+0.37%
18	AAPL	Apple INC	Stock-Tech	0.95%	+0.06%	+0.11%
19	QGRO	American Century US Quality	ETF-Other	0.85%	+0.04%	+0.05%
20	CGDV	Cap Group Dividend Value	ETF-Other	0.83%	+0.09%	+3.89%
21	MMM	3m Co	Stock-Industrials	0.50%	+0.02%	—
22	VWO	Vanguard Ftse Emerging Marke	ETF-Emerging Markets	0.47%	+0.02%	+1.81%
23	IBM	Intl Business Machines CORP	Stock-Tech	0.45%	+0.04%	—
24	CGCB	Cap Group Core Bond	ETF-Other	0.40%	-0.03%	+0.13%
25	DIA	Ss Spdr Dow Jones Indus Avg	ETF-Large Cap & Growth	0.40%	+0.02%	+0.29%
26	CGMS	Cap Group US Multi-sect Bond	ETF-Other	0.35%	-0.02%	+1.05%
27	JPM	Jpmorgan Chase & Co	Stock-Financials	0.35%	+0.01%	-2.26%
28	AVLV	Avantis US Large Cap Value	ETF-Large Cap & Growth	0.34%	+0.34%	NEW
29	IQLT	Ishares Msci International Q	ETF-Other	0.33%	—	+1.74%
30	VZ	Verizon Communications INC	Stock-Comm Services	0.29%	-0.08%	+0.02%
31	TMUS	T-mobile US INC	Stock-Comm Services	0.29%	-0.06%	+9.60%
32	DE	Deere & Co	Stock-Industrials	0.28%	+0.02%	+0.35%
33	T	At&t INC	Stock-Comm Services	0.26%	-0.12%	+0.04%
34	FDHY	Fidelity Enh Hi Yld ETF	ETF-Other	0.22%	-0.01%	+1.30%
35	AVIV	Avantis Int Lrg Cap Val ETF	ETF-Other	0.20%	—	+1.12%
36	EDV	Vanguard Extended Dur Treas	ETF-Other	0.18%	-0.02%	+0.24%
37	VGSH	Vanguard Short-term Treasury	ETF-Gov Bonds	0.18%	-0.01%	+4.98%
38	RFI	Cohen & Steers Tot Ret Rlty	Stock-Other	0.17%	-0.01%	+2.12%
39	NVDA	Nvidia CORP	Stock-Tech	0.16%	+0.16%	NEW
40	FSCO	Fs Credit Opportunities CORP	Stock-Other	0.05%	-0.01%	+3.51%
41	ECC	Eagle Point Credit Co	Stock-Other	0.04%	—	+4.53%
42	CCIF	Carlyle Credit Income Fund	Stock-Other	0.03%	—	+3.71%

Portfolio Performance

Performance for Q3 2026

+2.3%

Performance Last 4 Quarters

+15.5%

Based on 74% of reported portfolio value with available pricing

Stdev: +7%
Beta: +0.47
Alpha: +5%
Max Drawdown: -3.8%
Annualized Perf: +12.4%
Batting Avg vs S&P: +60%
Sortino: +3.31
Stutzer: +0.49
Treynor: +0.25
Sterling: +0.9
Calmar: +3.3
Information Ratio: -0.38
Tracking Error: +7.7%
Stdev Down: +3.6%
Winning Months %: +80%
Losing Months %: +20%
Best 12 Months: +20.3%
Worst 12 Months: +12.3%
Efficiency Ratio: +0.6
Sharpe: +1.72
Stdev Sectors: +12.4%
Skewness: -0.51
Kurtosis: +0.16
Upside Potential: +4.63

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-06-30	42	$133.9M	8	1SPYV 2VOO 3SCHF Top holdings2026-06-30 1.SPYV 2.VOO 3.SCHF 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.SPIB 9.BIL 10.SPY
2026-03-31	42	$125.1M	6	1SPYV 2VOO 3SCHF Top holdings2026-03-31 1.SPYV 2.VOO 3.SCHF 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.SPIB 9.BIL 10.SPY
2025-12-31	41	$123.1M	7	1SPYV 2VOO 3SCHF Top holdings2025-12-31 1.SPYV 2.VOO 3.SCHF 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.SPIB 9.BIL 10.SPY
2025-09-30	42	$119.2M	26	1SPYV 2VOO 3SCHF Top holdings2025-09-30 1.SPYV 2.VOO 3.SCHF 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.BIL 9.SPY 10.SPIB
2025-06-30	46	$112.0M	0	1SPYV 2SCHF 3VOO Top holdings2025-06-30 1.SPYV 2.SCHF 3.VOO 4.AGG 5.SHYG 6.IGIB 7.AVUV 8.BIL 9.SPIB 10.SCHD
2025-03-31	38	$100.8M	100	1SPYV 2SCHF 3VOO Top holdings2025-03-31 1.SPYV 2.SCHF 3.VOO 4.SHYG 5.IGIB 6.SPY 7.AGG 8.AVUV 9.BIL 10.SCHD
2024-12-31	37	$96.7M	0	1SPYV 2IGIB 3SCHF Top holdings2024-12-31 1.SPYV 2.IGIB 3.SCHF 4.SPY 5.AGG 6.SHYG 7.VOO 8.BIL 9.SHY 10.AVUV
2024-09-30	36	$96.1M	0	1SPYV 2IGIB 3SCHF Top holdings2024-09-30 1.SPYV 2.IGIB 3.SCHF 4.SPY 5.AGG 6.SHYG 7.BIL 8.VOO 9.SHY 10.SCHD
2021-09-30	8	$88.2M	0	1SPYG 2SPYV 3SPY Top holdings2021-09-30 1.SPYG 2.SPYV 3.SPY 4.VTIP 5.HYG 6.IEF 7.IGIB 8.AIA
2021-06-30	8	$88.5M	100	1SPYG 2SPYV 3SPY Top holdings2021-06-30 1.SPYG 2.SPYV 3.SPY 4.VTIP 5.HYG 6.IEF 7.IGIB 8.AIA
2021-03-31	8	$85.7M	100	1HYG 2SPYV 3SPYG Top holdings2021-03-31 1.HYG 2.SPYV 3.SPYG 4.QQQ 5.IWM 6.IEF 7.AIA 8.IGIB
2020-12-31	7	$93.8M	83	1SPY 2AGG 3IEF Top holdings2020-12-31 1.SPY 2.AGG 3.IEF 4.HYG 5.IEI 6.SHY 7.QQQ
2020-09-30	6	$89.4M	5	1AGG 2SPY 3TLT Top holdings2020-09-30 1.AGG 2.SPY 3.TLT 4.SHY 5.HYG 6.IEI
2020-06-30	6	$90.4M	100	1AGG 2SPY 3TLT Top holdings2020-06-30 1.AGG 2.SPY 3.TLT 4.SHY 5.HYG 6.IEI
2020-03-31	2	$59.2M	100	1SHY 2IEI Top holdings2020-03-31 1.SHY 2.IEI
2019-12-31	4	$128.4M	13	1SPY 2TLT 3LQD Top holdings2019-12-31 1.SPY 2.TLT 3.LQD 4.SHY
2019-09-30	4	$133.8M	89	1SPY 2TLT 3IGIB Top holdings2019-09-30 1.SPY 2.TLT 3.IGIB 4.SHY
2019-06-30	7	$118.1M	69	1SPY 2IGIB 3HYG Top holdings2019-06-30 1.SPY 2.IGIB 3.HYG 4.QQQ 5.MTUM 6.MDY 7.DVY
2019-03-31	4	$109.9M	100	1SPY 2TLT 3IGIB Top holdings2019-03-31 1.SPY 2.TLT 3.IGIB 4.USMV
2018-12-31	4	$103.6M	—	1USMV 2IGIB 3TLH Top holdings2018-12-31 1.USMV 2.IGIB 3.TLH 4.AGG

Holding changes this quarter

Position changes disclosed by Freestate Advisors LLC for the quarter ending 2026-06-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	VOO	Vanguard S&p 500 ETF	+1.1%	+1.74%	Add
2	SGOV	Ishares 0-3 Month Treasury B	+0.5%	+75.99%	Add
3	SCHF	Schwab Intl Equity ETF	+0.4%	-0.83%	Trim
4	AVLV	Avantis US Large Cap Value	+0.3%	NEW	New buy
5	AVUV	Avantis US Small Cap Value	+0.3%	-0.64%	Trim
6	SPY	Ss Spdr S&p 500 ETF Trust-us	+0.2%	+0.67%	Add
7	NVDA	Nvidia CORP	+0.2%	NEW	New buy
8	CGDV	Cap Group Dividend Value	+0.1%	+3.89%	Add
9	AAPL	Apple INC	+0.1%	+0.11%	Add
10	QGRO	American Century US Quality	0%	+0.05%	Add
11	IBM	Intl Business Machines CORP	0%	—	Unchanged
12	CGSD	Cap Group Short Duration	0%	+9.10%	Add
13	VWO	Vanguard Ftse Emerging Marke	0%	+1.81%	Add
14	MMM	3m Co	0%	—	Unchanged
15	DIA	Ss Spdr Dow Jones Indus Avg	0%	+0.29%	Add
16	DE	Deere & Co	0%	+0.35%	Add
17	DGRO	Ishares Core Dividend Growth	0%	+0.37%	Add
18	JPM	Jpmorgan Chase & Co	0%	-2.26%	Trim
19	IQLT	Ishares Msci International Q	—	+1.74%	Add
20	AVIV	Avantis Int Lrg Cap Val ETF	—	+1.12%	Add
21	CCIF	Carlyle Credit Income Fund	—	+3.71%	Add
22	ECC	Eagle Point Credit Co	—	+4.53%	Add
23	VGSH	Vanguard Short-term Treasury	0%	+4.98%	Add
24	RFI	Cohen & Steers Tot Ret Rlty	0%	+2.12%	Add
25	FDHY	Fidelity Enh Hi Yld ETF	0%	+1.30%	Add
26	FSCO	Fs Credit Opportunities CORP	0%	+3.51%	Add
27	CGMS	Cap Group US Multi-sect Bond	0%	+1.05%	Add
28	EDV	Vanguard Extended Dur Treas	0%	+0.24%	Add
29	CGCB	Cap Group Core Bond	0%	+0.13%	Add
30	TMUS	T-mobile US INC	-0.1%	+9.60%	Add
31	JAAA	Janus Henderson Aaa Clo ETF	-0.1%	+1.06%	Add
32	VZ	Verizon Communications INC	-0.1%	+0.02%	Add
33	SHY	Ishares 1-3 Year Treasury Bo	-0.1%	+0.42%	Add
34	SCHD	Schwab US Dvd Equity ETF	-0.1%	+0.11%	Add
35	LVHI	Franklin International Low V	-0.1%	+1.74%	Add
36	SPIB	Ss Spdr P Int C CORP ETF	-0.1%	+3.94%	Add
37	T	At&t INC	-0.1%	+0.04%	Add
38	AMZN	Amazon.com INC	-0.2%	EXIT	Sold out
39	DOW	Dow INC	-0.2%	EXIT	Sold out
40	BIL	Ss Spdr Bb 1-3m T-bill ETF	-0.3%	-2.61%	Trim
41	SPYV	Ss Spdr P S&p 500 Value ETF	-0.4%	-2.94%	Trim
42	SHYG	Ishares 0-5 Yr Hy CORP Bond	-0.4%	+1.39%	Add
43	IGIB	Ishares 5-10y Inv Grade CORP	-0.5%	+0.51%	Add
44	AGG	Ishares Core U.s. Aggregate	-0.6%	+1.42%	Add

Filing History

Period	Filed	Type	EDGAR
2026-06-30	2026-07-09	13F-HR	View on EDGAR
2026-03-31	2026-04-09	13F-HR	View on EDGAR
2025-12-31	2026-01-12	13F-HR	View on EDGAR
2025-09-30	2025-10-07	13F-HR	View on EDGAR
2025-06-30	2025-07-16	13F-HR	View on EDGAR
2025-03-31	2025-04-09	13F-HR	View on EDGAR
2024-12-31	2025-01-14	13F-HR	View on EDGAR
2024-09-30	2024-10-09	13F-HR	View on EDGAR
2021-09-30	2021-10-12	13F-HR	View on EDGAR
2021-06-30	2021-07-12	13F-HR	View on EDGAR
2021-03-31	2021-04-13	13F-HR	View on EDGAR
2020-12-31	2021-02-01	13F-HR	View on EDGAR
2020-09-30	2020-10-28	13F-HR	View on EDGAR
2020-06-30	2020-07-20	13F-HR	View on EDGAR
2020-03-31	2020-04-27	13F-HR	View on EDGAR
2019-12-31	2020-01-07	13F-HR	View on EDGAR
2019-09-30	2019-10-10	13F-HR	View on EDGAR
2019-06-30	2019-08-19	13F-HR	View on EDGAR
2019-03-31	2019-05-03	13F-HR	View on EDGAR
2018-12-31	2019-04-04	13F-HR	View on EDGAR