{"url":"https://nivawealth.com/firms/collaborative-fund-advisors-327121","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/327121","regulatoryAum":144836775,"crd":"327121","history":[{"filedOn":"2024-05-15","regulatoryAum":0,"clients":1,"employees":7,"offices":2},{"filedOn":"2025-03-30","regulatoryAum":38952778,"clients":1,"employees":9,"offices":2},{"filedOn":"2026-02-13","regulatoryAum":144836775,"clients":3,"employees":11,"offices":5}],"secFileNumber":"801-128588","legalName":"Collaborative Fund Advisors, LLC","displayName":"Collaborative Fund Advisors","slug":"collaborative-fund-advisors-327121","website":"https://nelsonselectetf.com/","classification":{"segment":"registered_funds","segmentLabel":"Fund management","type":"fund_manager","typeLabel":"Mutual funds & ETFs","feeDisclosure":"payment_only"},"founded":null,"organization":"Nevada limited liability company","fiscalYearEnd":"December","headquarters":{"street":"500 Damonte Ranch Pkwy, BLDG 700, Unit 700","city":"Reno","state":"NV","stateName":"Nevada","country":"United States","postalCode":"89521"},"tradeNames":["Anydrus Capital","Nelson Funds","Shalva Asset Management"],"registration":{"secApproved":"31 August 2023","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":null,"staff":{"employees":11,"advisory":7,"brokerDealerReps":0,"insuranceAgents":5,"promoters":0},"aum":{"regulatory":144836775,"discretionary":144836775,"discretionaryAccounts":3,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Investment companies","clients":3,"regulatoryAum":144836775}],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[],"custodyNote":"Collaborative Fund Advisors does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Gregory Skidmore","title":"Chief Executive Officer","crd":"4709360"},{"name":"Shane Stirton","title":"President","crd":"7329636"},{"name":"Belena Vincetti","title":"Chief Compliance Officer","crd":"5207515"}],"ownership":[{"label":"Belpointe Financial Holdings, LLC","detail":"Member in the 75% or more ownership band and a control person, since June 2023."},{"label":"Belpointe Wealth Holdings, LLC","detail":"Indirect owner: a owner of Belpointe Financial Holdings, LLC in the 50% to 75% band, since August 2010.","parent":"Belpointe Financial Holdings, LLC"},{"label":"F Focal II, FLP","detail":"Indirect owner: a owner of Belpointe Wealth Holdings, LLC in the 50% to 75% band, since August 2010.","parent":"Belpointe Wealth Holdings, LLC"},{"label":"Lacoff Family Trust","detail":"Indirect owner: a owner of F Focal II, FLP in the 50% to 75% band, since April 2020.","parent":"F Focal II, FLP"},{"label":"Brandon Lacoff","detail":"Indirect owner: member of F Focal II, FLP and a control person, since March 2007.","parent":"F Focal II, FLP"},{"label":"Martin Lacoff","detail":"Indirect owner: trustee of Lacoff Family Trust, since January 2010.","parent":"Lacoff Family Trust"},{"label":"Brooks Lacoff","detail":"Indirect owner: a beneficiary of Lacoff Family Trust in the 50% to 75% band, since January 2010.","parent":"Lacoff Family Trust"},{"label":"Zachary Lacoff","detail":"Indirect owner: a beneficiary of Lacoff Family Trust in the 50% to 75% band, since January 2010.","parent":"Lacoff Family Trust"},{"label":"Skylar Lacoff","detail":"Indirect owner: a beneficiary of Lacoff Family Trust in the 50% to 75% band, since January 2010.","parent":"Lacoff Family Trust"},{"label":"Gregory Skidmore","detail":"Indirect owner: a member of Belpointe Financial Holdings, LLC in the 25% to 50% band and a control person, since April 2012.","parent":"Belpointe Financial Holdings, LLC"},{"label":"Shane Stirton","detail":"Indirect owner: a member of Belpointe Financial Holdings, LLC in the 25% to 50% band and a control person, since April 2025.","parent":"Belpointe Financial Holdings, LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":4,"privateResidences":0},"listedOfficeAddresses":5,"foreignOffices":[],"officesByState":[{"state":"Connecticut","offices":1,"addresses":[{"street":"255 Glenville Road","city":"Greenwich"}]},{"state":"Illinois","offices":1,"addresses":[{"street":"1 Northfield Plaza Suite 521","city":"Northfield"}]},{"state":"Nevada","offices":1,"addresses":[{"street":"500 Damonte Ranch Pkwy, BLDG 700, Unit 700","city":"Reno","headquarters":true}]},{"state":"North Carolina","offices":1,"addresses":[{"street":"1320 Trafalgar Drive","city":"High Point"}]},{"state":"Wisconsin","offices":1,"addresses":[{"street":"One Parker Place","city":"Janesville"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"203-629-3300","stateRegisteredReps":7,"otherAdviserReps":8,"compensation":["A percentage of assets under management"],"activities":["Portfolio management for investment companies"],"financialPlanningClients":"0","assetMix":[],"privateFunds":0},"sources":{"adv1FilingDate":"13 February 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/327121/PDF/327121.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-21","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Collaborative Fund Advisors have?","answer":"Collaborative Fund Advisors has 3 clients and manages $145 million for them, as of February 2026. They include 3 investment companies.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 13 February 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Collaborative Fund Advisors offer?","answer":"Collaborative Fund Advisors provides portfolio management for investment companies.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How many financial advisors does Collaborative Fund Advisors have?","answer":"Collaborative Fund Advisors has 7 investment adviser representatives registered with state securities authorities, out of 11 employees, and 7 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 5 employees are licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Collaborative Fund Advisors?","answer":"Collaborative Fund Advisors is owned through a chain of holding companies by Brooks and Zachary and Skylar Lacoff, Gregory Skidmore, and Shane Stirton. Its direct owner is Belpointe Financial Holdings, LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 13 February 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Collaborative Fund Advisors get paid?","answer":"Collaborative Fund Advisors is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Collaborative Fund Advisors?","answer":"Collaborative Fund Advisors’ main office is at 500 Damonte Ranch Pkwy, BLDG 700, Unit 700, Reno, NV 89521. Its phone number is 203-629-3300. Its website is nelsonselectetf.com.","source":"Form ADV Part 1A, Item 1.F, filed 13 February 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":{"url":"https://nivawealth.com/firms/collaborative-fund-advisors-327121/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-07-31","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/2132074/000213207426000002/0002132074-26-000002-index.html","totalValue":171755048,"positionCount":182,"top10Share":0.28467510893770065,"top10":[{"issuer":"NVIDIA CORP","titleOfClass":"COM","cusip":"67066G104","value":7932968,"shares":39647,"shareType":"SH","priorValue":4912848,"priorShares":28170},{"issuer":"APPLE INC","titleOfClass":"COM","cusip":"037833100","value":5866485,"shares":20274,"shareType":"SH","priorValue":3836290,"priorShares":15116},{"issuer":"ALPHABET INC","titleOfClass":"COM","cusip":"02079K305","value":5304800,"shares":14844,"shareType":"SH","priorValue":4706495,"priorShares":16367},{"issuer":"JANUS HENDERSON AAA CLO E","titleOfClass":"COM","cusip":"47103U845","value":5272065,"shares":104418,"shareType":"SH","priorValue":3570024,"priorShares":70876},{"issuer":"MICROSOFT CORP","titleOfClass":"COM","cusip":"594918104","value":4479224,"shares":12008,"shareType":"SH","priorValue":1611350,"priorShares":4353},{"issuer":"AMAZON.COM INC","titleOfClass":"COM","cusip":"023135106","value":4462917,"shares":18725,"shareType":"SH","priorValue":2137683,"priorShares":10264},{"issuer":"IMGP DBI MANAGED FUTURES","titleOfClass":"COM","cusip":"53700T827","value":4250015,"shares":138844,"shareType":"SH","priorValue":2818603,"priorShares":93486},{"issuer":"VANGUARD TOTAL INTERNATIO","titleOfClass":"COM","cusip":"92203J407","value":4186338,"shares":86441,"shareType":"SH","priorValue":3050118,"priorShares":63478},{"issuer":"ISHARES BROAD USD HIGH YI","titleOfClass":"COM","cusip":"46435U853","value":3670163,"shares":99140,"shareType":"SH","priorValue":1576126,"priorShares":42783},{"issuer":"VANECK J. P. MORGAN EM LO","titleOfClass":"COM","cusip":"92189H300","value":3469412,"shares":135736,"shareType":"SH","priorValue":3578627,"priorShares":142518}],"positionsListed":182,"positions":[{"issuer":"NVIDIA CORP","titleOfClass":"COM","cusip":"67066G104","value":7932968,"shares":39647,"shareType":"SH","priorValue":4912848,"priorShares":28170},{"issuer":"APPLE INC","titleOfClass":"COM","cusip":"037833100","value":5866485,"shares":20274,"shareType":"SH","priorValue":3836290,"priorShares":15116},{"issuer":"ALPHABET INC","titleOfClass":"COM","cusip":"02079K305","value":5304800,"shares":14844,"shareType":"SH","priorValue":4706495,"priorShares":16367},{"issuer":"JANUS HENDERSON AAA CLO E","titleOfClass":"COM","cusip":"47103U845","value":5272065,"shares":104418,"shareType":"SH","priorValue":3570024,"priorShares":70876},{"issuer":"MICROSOFT CORP","titleOfClass":"COM","cusip":"594918104","value":4479224,"shares":12008,"shareType":"SH","priorValue":1611350,"priorShares":4353},{"issuer":"AMAZON.COM INC","titleOfClass":"COM","cusip":"023135106","value":4462917,"shares":18725,"shareType":"SH","priorValue":2137683,"priorShares":10264},{"issuer":"IMGP DBI MANAGED FUTURES","titleOfClass":"COM","cusip":"53700T827","value":4250015,"shares":138844,"shareType":"SH","priorValue":2818603,"priorShares":93486},{"issuer":"VANGUARD TOTAL INTERNATIO","titleOfClass":"COM","cusip":"92203J407","value":4186338,"shares":86441,"shareType":"SH","priorValue":3050118,"priorShares":63478},{"issuer":"ISHARES BROAD USD HIGH YI","titleOfClass":"COM","cusip":"46435U853","value":3670163,"shares":99140,"shareType":"SH","priorValue":1576126,"priorShares":42783},{"issuer":"VANECK J. P. MORGAN EM LO","titleOfClass":"COM","cusip":"92189H300","value":3469412,"shares":135736,"shareType":"SH","priorValue":3578627,"priorShares":142518},{"issuer":"SCHWAB INTERMEDIATE-TERM","titleOfClass":"COM","cusip":"808524854","value":2926945,"shares":118692,"shareType":"SH"},{"issuer":"SCHWAB SHORT-TERM U.S. TR","titleOfClass":"COM","cusip":"808524862","value":2920795,"shares":120994,"shareType":"SH"},{"issuer":"ISHARES FLOATING RATE BON","titleOfClass":"COM","cusip":"46429B655","value":2596403,"shares":50860,"shareType":"SH","priorValue":2014971,"priorShares":39548},{"issuer":"BROADCOM INC","titleOfClass":"COM","cusip":"11135F101","value":2434221,"shares":6444,"shareType":"SH","priorValue":865699,"priorShares":2797},{"issuer":"VANGUARD MORTGAGE-BACKED","titleOfClass":"COM","cusip":"92206C771","value":2417783,"shares":51651,"shareType":"SH"},{"issuer":"JPMORGAN CHASE & CO","titleOfClass":"COM","cusip":"46625H100","value":2260541,"shares":6906,"shareType":"SH","priorValue":1484331,"priorShares":5046},{"issuer":"ALTSHARES MERGER ARBITRAG","titleOfClass":"COM","cusip":"02210T108","value":2250548,"shares":75953,"shareType":"SH"},{"issuer":"ISHARES IBONDS 2026 TERM","titleOfClass":"COM","cusip":"46436E528","value":2046609,"shares":90358,"shareType":"SH"},{"issuer":"MERCADOLIBRE INC","titleOfClass":"COM","cusip":"58733R102","value":1877313,"shares":1106,"shareType":"SH","priorValue":2290952,"priorShares":1325},{"issuer":"META PLATFORMS INC","titleOfClass":"COM","cusip":"30303M102","value":1856041,"shares":3295,"shareType":"SH","priorValue":974337,"priorShares":1703},{"issuer":"TAIWAN SEMICONDUCTOR MANU","titleOfClass":"COM","cusip":"874039100","value":1745518,"shares":3655,"shareType":"SH","priorValue":1734697,"priorShares":5133},{"issuer":"APPLIED MATERIALS INC","titleOfClass":"COM","cusip":"038222105","value":1703388,"shares":2356,"shareType":"SH","priorValue":916339,"priorShares":2681},{"issuer":"ABBVIE INC","titleOfClass":"COM","cusip":"00287Y109","value":1652772,"shares":6568,"shareType":"SH","priorValue":550902,"priorShares":2533},{"issuer":"JOHNSON & JOHNSON","titleOfClass":"COM","cusip":"478160104","value":1617027,"shares":6367,"shareType":"SH","priorValue":1082136,"priorShares":4427},{"issuer":"INVESCO BULLETSHARES 2027","titleOfClass":"COM","cusip":"46138J585","value":1612861,"shares":72178,"shareType":"SH"},{"issuer":"MICRON TECHNOLOGY INC","titleOfClass":"COM","cusip":"595112103","value":1603309,"shares":1389,"shareType":"SH"},{"issuer":"ISHARES IBONDS DEC 2026 T","titleOfClass":"COM","cusip":"46435GAA0","value":1516241,"shares":62577,"shareType":"SH"},{"issuer":"ELI LILLY AND COMPANY","titleOfClass":"COM","cusip":"532457108","value":1474099,"shares":1229,"shareType":"SH","priorValue":905054,"priorShares":984},{"issuer":"WALMART INC","titleOfClass":"COM","cusip":"931142103","value":1383697,"shares":12217,"shareType":"SH","priorValue":459215,"priorShares":3695},{"issuer":"VISA INC","titleOfClass":"COM","cusip":"92826C839","value":1347658,"shares":3928,"shareType":"SH"},{"issuer":"TESLA INC","titleOfClass":"COM","cusip":"88160R101","value":1346341,"shares":3201,"shareType":"SH","priorValue":402977,"priorShares":1084},{"issuer":"BERKSHIRE HATHAWAY","titleOfClass":"COM","cusip":"084670702","value":1239466,"shares":2477,"shareType":"SH","priorValue":524245,"priorShares":1094},{"issuer":"YUM CHINA HOLDINGS","titleOfClass":"COM","cusip":"98850P109","value":1207259,"shares":29539,"shareType":"SH","priorValue":2018760,"priorShares":41385},{"issuer":"ISHARES IBONDS OCT 2026 T","titleOfClass":"COM","cusip":"46438G505","value":1176502,"shares":45094,"shareType":"SH"},{"issuer":"ISHARES IBONDS 2027 TERM","titleOfClass":"COM","cusip":"46436E478","value":1174833,"shares":53208,"shareType":"SH"},{"issuer":"ADVANCED MICRO DEVICES","titleOfClass":"COM","cusip":"007903107","value":1167629,"shares":2010,"shareType":"SH"},{"issuer":"IQ MERGER ARBITRAGE ETF","titleOfClass":"COM","cusip":"45409B800","value":1124335,"shares":30821,"shareType":"SH","priorValue":2216078,"priorShares":60965},{"issuer":"NEUROCRINE BIOSCIENCES IN","titleOfClass":"COM","cusip":"64125C109","value":1114185,"shares":6611,"shareType":"SH","priorValue":433820,"priorShares":3293},{"issuer":"AMPHENOL CORP CLASS A","titleOfClass":"COM","cusip":"032095101","value":1046812,"shares":5937,"shareType":"SH","priorValue":674204,"priorShares":5336},{"issuer":"CISCO SYSTEMS INC","titleOfClass":"COM","cusip":"17275R102","value":1043045,"shares":8880,"shareType":"SH"},{"issuer":"VANGUARD HIGH-YIELD ACTIV","titleOfClass":"COM","cusip":"922031687","value":1030903,"shares":13772,"shareType":"SH"},{"issuer":"WIX.COM LTD","titleOfClass":"COM","cusip":"M98068105","value":1025453,"shares":22602,"shareType":"SH","priorValue":2002076,"priorShares":22228},{"issuer":"TOYOTA MOTOR CORP","titleOfClass":"COM","cusip":"892331307","value":1021973,"shares":6068,"shareType":"SH","priorValue":1957855,"priorShares":9500},{"issuer":"TARGA RESOURCES CORP","titleOfClass":"COM","cusip":"87612G101","value":991045,"shares":3696,"shareType":"SH","priorValue":1036518,"priorShares":4134},{"issuer":"BANK OF NEW YORK MELLON","titleOfClass":"COM","cusip":"064058100","value":973515,"shares":6732,"shareType":"SH","priorValue":862915,"priorShares":7274},{"issuer":"HOWMET AEROSPACE INC","titleOfClass":"COM","cusip":"443201108","value":965207,"shares":3590,"shareType":"SH","priorValue":428425,"priorShares":1859},{"issuer":"ASML HOLDING NV","titleOfClass":"COM","cusip":"N07059210","value":948963,"shares":477,"shareType":"SH","priorValue":692115,"priorShares":524},{"issuer":"COSTCO WHOLESALE CORP","titleOfClass":"COM","cusip":"22160K105","value":946696,"shares":1012,"shareType":"SH","priorValue":2576768,"priorShares":2586},{"issuer":"SILICON MOTION TECHNOLOGY","titleOfClass":"COM","cusip":"82706C108","value":934657,"shares":2804,"shareType":"SH"},{"issuer":"UNITEDHEALTH GROUP INC","titleOfClass":"COM","cusip":"91324P102","value":910230,"shares":2190,"shareType":"SH"},{"issuer":"NEW LINDE PLC","titleOfClass":"COM","cusip":"G54950103","value":909183,"shares":1752,"shareType":"SH","priorValue":900300,"priorShares":1816},{"issuer":"EXXON MOBIL CORP","titleOfClass":"COM","cusip":"30231G102","value":903309,"shares":6607,"shareType":"SH","priorValue":217843,"priorShares":1284},{"issuer":"LAM RESEARCH CORP","titleOfClass":"COM","cusip":"512807306","value":895693,"shares":2067,"shareType":"SH"},{"issuer":"INGREDION INC","titleOfClass":"COM","cusip":"457187102","value":884118,"shares":9335,"shareType":"SH","priorValue":2075535,"priorShares":18423},{"issuer":"ALLSTATE CORP","titleOfClass":"COM","cusip":"020002101","value":867053,"shares":3644,"shareType":"SH","priorValue":1416754,"priorShares":6833},{"issuer":"RAREVIEW GOVERNMENT MONEY","titleOfClass":"COM","cusip":"19423L391","value":823390,"shares":8206,"shareType":"SH","priorValue":863612,"priorShares":8606},{"issuer":"PINTEREST INC","titleOfClass":"COM","cusip":"72352L106","value":798110,"shares":37951,"shareType":"SH","priorValue":1717156,"priorShares":93629},{"issuer":"STATE STREET SPDR BLOOMBE","titleOfClass":"COM","cusip":"78468R663","value":793419,"shares":8658,"shareType":"SH","priorValue":1412722,"priorShares":15416},{"issuer":"GE VERNOVA LLC","titleOfClass":"COM","cusip":"36828A101","value":776582,"shares":661,"shareType":"SH","priorValue":906943,"priorShares":1039},{"issuer":"T-MOBILE US INC","titleOfClass":"COM","cusip":"872590104","value":749585,"shares":4469,"shareType":"SH","priorValue":2725349,"priorShares":12976},{"issuer":"ING GROEP NV","titleOfClass":"COM","cusip":"456837103","value":730589,"shares":23282,"shareType":"SH","priorValue":2112889,"priorShares":81109},{"issuer":"TECK RESOURCES LTD","titleOfClass":"COM","cusip":"878742204","value":724877,"shares":12191,"shareType":"SH"},{"issuer":"WISDOM TREE TRUST - WISDO","titleOfClass":"COM","cusip":"97717W281","value":702880,"shares":10862,"shareType":"SH"},{"issuer":"CITIGROUP INC","titleOfClass":"COM","cusip":"172967424","value":681045,"shares":4866,"shareType":"SH"},{"issuer":"ALPHABET INC","titleOfClass":"COM","cusip":"02079K107","value":656840,"shares":1859,"shareType":"SH"},{"issuer":"CATERPILLAR INC","titleOfClass":"COM","cusip":"149123101","value":640005,"shares":601,"shareType":"SH","priorValue":438537,"priorShares":619},{"issuer":"VIRTUS REAVES UTILITIES E","titleOfClass":"COM","cusip":"26923G806","value":639370,"shares":7822,"shareType":"SH"},{"issuer":"KEURIG DR PEPPER INC","titleOfClass":"COM","cusip":"49271V100","value":633391,"shares":19352,"shareType":"SH","priorValue":1899552,"priorShares":72144},{"issuer":"CHUBB LIMITED","titleOfClass":"COM","cusip":"H1467J104","value":629006,"shares":1846,"shareType":"SH","priorValue":565814,"priorShares":1736},{"issuer":"VIPSHOP HOLDINGS LTD","titleOfClass":"COM","cusip":"92763W103","value":619892,"shares":46749,"shareType":"SH","priorValue":206356,"priorShares":13127},{"issuer":"GENERAL ELECTRIC COMPANY","titleOfClass":"COM","cusip":"369604301","value":618149,"shares":1654,"shareType":"SH"},{"issuer":"COLGATE-PALMOLIVE CO","titleOfClass":"COM","cusip":"194162103","value":616456,"shares":6724,"shareType":"SH","priorValue":539335,"priorShares":6328},{"issuer":"ORACLE CORP","titleOfClass":"COM","cusip":"68389X105","value":599096,"shares":4088,"shareType":"SH"},{"issuer":"SYSCO CORP","titleOfClass":"COM","cusip":"871829107","value":588487,"shares":7041,"shareType":"SH"},{"issuer":"CUMMINS INC","titleOfClass":"COM","cusip":"231021106","value":585545,"shares":821,"shareType":"SH","priorValue":2056850,"priorShares":3823},{"issuer":"ANALOG DEVICES INC","titleOfClass":"COM","cusip":"032654105","value":581854,"shares":1465,"shareType":"SH"},{"issuer":"WALT DISNEY CO","titleOfClass":"COM","cusip":"254687106","value":581158,"shares":6038,"shareType":"SH","priorValue":548017,"priorShares":5686},{"issuer":"TAPESTRY INC","titleOfClass":"COM","cusip":"876030107","value":579518,"shares":3959,"shareType":"SH","priorValue":439840,"priorShares":3117},{"issuer":"BADGER METER INC","titleOfClass":"COM","cusip":"056525108","value":573785,"shares":3867,"shareType":"SH"},{"issuer":"DELL TECHNOLOGIES INC","titleOfClass":"COM","cusip":"24703L202","value":566507,"shares":1313,"shareType":"SH","priorValue":1056341,"priorShares":6436},{"issuer":"MDA SPACE LTD","titleOfClass":"COM","cusip":"55293N109","value":564298,"shares":13670,"shareType":"SH"},{"issuer":"COCA COLA CO","titleOfClass":"COM","cusip":"191216100","value":560032,"shares":6891,"shareType":"SH"},{"issuer":"MERCK & COMPANY INC","titleOfClass":"COM","cusip":"58933Y105","value":555506,"shares":4323,"shareType":"SH","priorValue":476950,"priorShares":3965},{"issuer":"RTX CORP","titleOfClass":"COM","cusip":"75513E101","value":543387,"shares":2864,"shareType":"SH"},{"issuer":"STATE STREET UTILITIES","titleOfClass":"COM","cusip":"81369Y886","value":541088,"shares":11934,"shareType":"SH","priorValue":1078690,"priorShares":23506},{"issuer":"JOHNSON CONTROLS INTL","titleOfClass":"COM","cusip":"G51502105","value":536078,"shares":3669,"shareType":"SH"},{"issuer":"PROCTER & GAMBLE CO","titleOfClass":"COM","cusip":"742718109","value":532743,"shares":3633,"shareType":"SH"},{"issuer":"STATE STREET CORP","titleOfClass":"COM","cusip":"857477103","value":528982,"shares":3119,"shareType":"SH","priorValue":439163,"priorShares":3470},{"issuer":"HDFC BANK LTD","titleOfClass":"COM","cusip":"40415F101","value":527991,"shares":20441,"shareType":"SH","priorValue":1079767,"priorShares":43399},{"issuer":"ABB LTD","titleOfClass":"COM","cusip":"000375204","value":526869,"shares":4847,"shareType":"SH","priorValue":419542,"priorShares":5213},{"issuer":"NICE LTD","titleOfClass":"COM","cusip":"653656108","value":525840,"shares":5788,"shareType":"SH","priorValue":2118646,"priorShares":19215},{"issuer":"SIEMENS AG","titleOfClass":"COM","cusip":"826197501","value":525049,"shares":3263,"shareType":"SH","priorValue":422192,"priorShares":3464},{"issuer":"ROYALTY PHARMA PLC","titleOfClass":"COM","cusip":"G7709Q104","value":523189,"shares":9331,"shareType":"SH","priorValue":724491,"priorShares":15103},{"issuer":"NVENT ELECTRIC PLC","titleOfClass":"COM","cusip":"G6700G107","value":516123,"shares":3043,"shareType":"SH","priorValue":892777,"priorShares":7548},{"issuer":"GOLDMAN SACHS GROUP INC","titleOfClass":"COM","cusip":"38141G104","value":514787,"shares":509,"shareType":"SH","priorValue":714862,"priorShares":845},{"issuer":"VERTEX PHARMACEUTICALS","titleOfClass":"COM","cusip":"92532F100","value":514612,"shares":1036,"shareType":"SH","priorValue":415282,"priorShares":930},{"issuer":"TERADATA CORP","titleOfClass":"COM","cusip":"88076W103","value":513097,"shares":14808,"shareType":"SH"},{"issuer":"QUANTA SERVICES INC","titleOfClass":"COM","cusip":"74762E102","value":510508,"shares":709,"shareType":"SH","priorValue":872942,"priorShares":1590},{"issuer":"KLA CORP","titleOfClass":"COM","cusip":"482480100","value":503856,"shares":1670,"shareType":"SH","priorValue":1042466,"priorShares":708},{"issuer":"POLO RALPH LAUREN CORP","titleOfClass":"COM","cusip":"751212101","value":499354,"shares":1244,"shareType":"SH","priorValue":462323,"priorShares":1344},{"issuer":"NEW ORIENTAL EDUCATION","titleOfClass":"COM","cusip":"647581206","value":496333,"shares":10811,"shareType":"SH","priorValue":1106494,"priorShares":19539},{"issuer":"VALE SA","titleOfClass":"COM","cusip":"91912E105","value":491763,"shares":32697,"shareType":"SH","priorValue":424304,"priorShares":26669},{"issuer":"ESSENTIAL PROPERTIES REAL","titleOfClass":"COM","cusip":"29670E107","value":490794,"shares":16442,"shareType":"SH","priorValue":432023,"priorShares":14230},{"issuer":"SCHNEIDER ELECTRIC SE","titleOfClass":"COM","cusip":"80687P106","value":480768,"shares":7376,"shareType":"SH"},{"issuer":"BIRKENSTOCK HOLDING PLC","titleOfClass":"COM","cusip":"M2029K104","value":476170,"shares":11066,"shareType":"SH","priorValue":492053,"priorShares":13733},{"issuer":"TJX COMPANIES INC","titleOfClass":"COM","cusip":"872540109","value":475256,"shares":3137,"shareType":"SH","priorValue":994452,"priorShares":6227},{"issuer":"PALO ALTO NETWORKS INC","titleOfClass":"COM","cusip":"697435105","value":470267,"shares":1379,"shareType":"SH","priorValue":268215,"priorShares":1673},{"issuer":"PARKER-HANNIFIN CORP","titleOfClass":"COM","cusip":"701094104","value":469498,"shares":480,"shareType":"SH","priorValue":234553,"priorShares":262},{"issuer":"SLB LTD","titleOfClass":"COM","cusip":"806857108","value":457694,"shares":9845,"shareType":"SH","priorValue":725781,"priorShares":14123},{"issuer":"JABIL INC","titleOfClass":"COM","cusip":"466313103","value":456408,"shares":1184,"shareType":"SH","priorValue":241458,"priorShares":909},{"issuer":"MCKESSON CORP","titleOfClass":"COM","cusip":"58155Q103","value":456382,"shares":604,"shareType":"SH","priorValue":442199,"priorShares":511},{"issuer":"ULTA BEAUTY INC","titleOfClass":"COM","cusip":"90384S303","value":449176,"shares":996,"shareType":"SH"},{"issuer":"INVESCO BULLETSHARES 2026","titleOfClass":"COM","cusip":"46138J635","value":445625,"shares":19413,"shareType":"SH"},{"issuer":"JACK HENRY & ASSOC","titleOfClass":"COM","cusip":"426281101","value":440217,"shares":3196,"shareType":"SH"},{"issuer":"KIMBERLY-CLARK CORP","titleOfClass":"COM","cusip":"494368103","value":439519,"shares":4004,"shareType":"SH"},{"issuer":"HSBC HOLDINGS PLC","titleOfClass":"COM","cusip":"404280406","value":437224,"shares":4598,"shareType":"SH"},{"issuer":"SOLSTICE ADVANCED MATERIA","titleOfClass":"COM","cusip":"83443Q103","value":436089,"shares":4922,"shareType":"SH"},{"issuer":"DYCOM INDUSTRIES INC","titleOfClass":"COM","cusip":"267475101","value":434807,"shares":860,"shareType":"SH"},{"issuer":"DELTA AIR LINES INC","titleOfClass":"COM","cusip":"247361702","value":433739,"shares":4631,"shareType":"SH"},{"issuer":"DOLLAR GENERAL CORP","titleOfClass":"COM","cusip":"256677105","value":428439,"shares":3722,"shareType":"SH"},{"issuer":"NETFLIX.COM INC","titleOfClass":"COM","cusip":"64110L106","value":423688,"shares":5934,"shareType":"SH","priorValue":691415,"priorShares":7191},{"issuer":"QUEST DIAGNOSTICS INC","titleOfClass":"COM","cusip":"74834L100","value":423476,"shares":1998,"shareType":"SH"},{"issuer":"LANTHEUS HOLDINGS INC","titleOfClass":"COM","cusip":"516544103","value":422570,"shares":3809,"shareType":"SH"},{"issuer":"TOTO LTD","titleOfClass":"COM","cusip":"891515207","value":419712,"shares":7876,"shareType":"SH"},{"issuer":"ENTERGY CORP","titleOfClass":"COM","cusip":"29364G103","value":418894,"shares":3647,"shareType":"SH","priorValue":333484,"priorShares":2968},{"issuer":"VULCAN MATERIALS CO","titleOfClass":"COM","cusip":"929160109","value":418029,"shares":1417,"shareType":"SH"},{"issuer":"WILLIAMS COS INC","titleOfClass":"COM","cusip":"969457100","value":416824,"shares":5607,"shareType":"SH"},{"issuer":"AUTOZONE INC","titleOfClass":"COM","cusip":"053332102","value":412276,"shares":129,"shareType":"SH"},{"issuer":"REPUBLIC SERVICES INC","titleOfClass":"COM","cusip":"760759100","value":408261,"shares":1916,"shareType":"SH"},{"issuer":"UNITED RENTALS INC","titleOfClass":"COM","cusip":"911363109","value":405575,"shares":358,"shareType":"SH"},{"issuer":"THE HERSHEY COMPANY","titleOfClass":"COM","cusip":"427866108","value":405114,"shares":2309,"shareType":"SH"},{"issuer":"EQUINIX INC","titleOfClass":"COM","cusip":"29444U700","value":402363,"shares":386,"shareType":"SH","priorValue":539132,"priorShares":550},{"issuer":"ATLAS COPCO AB","titleOfClass":"COM","cusip":"049255706","value":401459,"shares":19689,"shareType":"SH"},{"issuer":"HOYA CORP","titleOfClass":"COM","cusip":"443251103","value":399454,"shares":2478,"shareType":"SH"},{"issuer":"MOBILEYE GLOBAL INC","titleOfClass":"COM","cusip":"60741F104","value":394867,"shares":40792,"shareType":"SH","priorValue":352156,"priorShares":51260},{"issuer":"INTEL CORP","titleOfClass":"COM","cusip":"458140100","value":392779,"shares":2813,"shareType":"SH"},{"issuer":"GENERAC HOLDINGS INC","titleOfClass":"COM","cusip":"368736104","value":392365,"shares":1340,"shareType":"SH"},{"issuer":"UBS GROUP AG","titleOfClass":"COM","cusip":"H42097107","value":391276,"shares":7895,"shareType":"SH","priorValue":251650,"priorShares":6441},{"issuer":"CONOCOPHILLIPS","titleOfClass":"COM","cusip":"20825C104","value":390682,"shares":3758,"shareType":"SH"},{"issuer":"ROLLS-ROYCE HOLDINGS PLC","titleOfClass":"COM","cusip":"775781206","value":388311,"shares":20172,"shareType":"SH"},{"issuer":"PROGRESSIVE CORP","titleOfClass":"COM","cusip":"743315103","value":386657,"shares":1770,"shareType":"SH"},{"issuer":"SHIN-ETSU CHEMICAL CO LTD","titleOfClass":"COM","cusip":"824551105","value":384729,"shares":17754,"shareType":"SH"},{"issuer":"CHENIERE ENERGY INC","titleOfClass":"COM","cusip":"16411R208","value":382655,"shares":1601,"shareType":"SH"},{"issuer":"HONEYWELL INTERNATIONAL I","titleOfClass":"COM","cusip":"438516205","value":381973,"shares":1706,"shareType":"SH"},{"issuer":"ASE TECHNOLOGY HOLDING CO","titleOfClass":"COM","cusip":"00215W100","value":381264,"shares":8450,"shareType":"SH","priorValue":299054,"priorShares":13794},{"issuer":"GENERAL MOTORS","titleOfClass":"COM","cusip":"37045V100","value":380775,"shares":4940,"shareType":"SH"},{"issuer":"BE SEMICONDUCTOR INDUSTRI","titleOfClass":"COM","cusip":"073320103","value":379051,"shares":1146,"shareType":"SH"},{"issuer":"GENERAL DYNAMICS CORP","titleOfClass":"COM","cusip":"369550108","value":378683,"shares":1069,"shareType":"SH"},{"issuer":"GAMING AND LEISURE PROPER","titleOfClass":"COM","cusip":"36467J108","value":376189,"shares":8448,"shareType":"SH"},{"issuer":"CARDINAL HEALTH INC","titleOfClass":"COM","cusip":"14149Y108","value":376057,"shares":1583,"shareType":"SH","priorValue":324783,"priorShares":1537},{"issuer":"NORTHERN TRUST CORP","titleOfClass":"COM","cusip":"665859104","value":376016,"shares":2163,"shareType":"SH"},{"issuer":"BARCLAYS PLC","titleOfClass":"COM","cusip":"06738E204","value":374885,"shares":13957,"shareType":"SH","priorValue":382107,"priorShares":18058},{"issuer":"THALES SA","titleOfClass":"COM","cusip":"883219206","value":369705,"shares":7169,"shareType":"SH"},{"issuer":"INTERNATIONAL BUSINESS MA","titleOfClass":"COM","cusip":"459200101","value":368948,"shares":1312,"shareType":"SH"},{"issuer":"NUCOR CORP","titleOfClass":"COM","cusip":"670346105","value":364642,"shares":1637,"shareType":"SH"},{"issuer":"ARM HOLDINGS PLC","titleOfClass":"COM","cusip":"042068205","value":363434,"shares":1025,"shareType":"SH"},{"issuer":"SEA LTD","titleOfClass":"COM","cusip":"81141R100","value":361087,"shares":3768,"shareType":"SH"},{"issuer":"NORTHROP GRUMMAN CORP","titleOfClass":"COM","cusip":"666807102","value":360082,"shares":707,"shareType":"SH"},{"issuer":"SENTINELONE INC","titleOfClass":"COM","cusip":"81730H109","value":358882,"shares":21148,"shareType":"SH"},{"issuer":"NEXTERA ENERGY INC","titleOfClass":"COM","cusip":"65339F101","value":352572,"shares":4017,"shareType":"SH","priorValue":304646,"priorShares":3280},{"issuer":"DUKE ENERGY CORP","titleOfClass":"COM","cusip":"26441C204","value":344677,"shares":2723,"shareType":"SH"},{"issuer":"WILLDAN GROUP INC","titleOfClass":"COM","cusip":"96924N100","value":343531,"shares":4343,"shareType":"SH"},{"issuer":"CROWDSTRIKE HOLDINGS INC","titleOfClass":"COM","cusip":"22788C105","value":327387,"shares":429,"shareType":"SH"},{"issuer":"TOTALENERGIES SE","titleOfClass":"COM","cusip":"F92124100","value":318427,"shares":4095,"shareType":"SH"},{"issuer":"BAKER HUGHES CO","titleOfClass":"COM","cusip":"05722G100","value":304640,"shares":5489,"shareType":"SH"},{"issuer":"EQUINOR ASA","titleOfClass":"COM","cusip":"29446M102","value":293276,"shares":9340,"shareType":"SH"},{"issuer":"ACCENTURE PLC","titleOfClass":"COM","cusip":"G1151C101","value":283350,"shares":2277,"shareType":"SH"},{"issuer":"MILLICOM INTERNATIONAL CE","titleOfClass":"COM","cusip":"L6388F110","value":277544,"shares":3058,"shareType":"SH"},{"issuer":"AMERICAN EXPRESS CO","titleOfClass":"COM","cusip":"025816109","value":276012,"shares":816,"shareType":"SH","priorValue":218996,"priorShares":724},{"issuer":"GERDAU SA","titleOfClass":"COM","cusip":"373737105","value":270902,"shares":67055,"shareType":"SH"},{"issuer":"FORTINET INC","titleOfClass":"COM","cusip":"34959E109","value":266838,"shares":1737,"shareType":"SH","priorValue":275151,"priorShares":3367},{"issuer":"MASTERCARD INC","titleOfClass":"COM","cusip":"57636Q104","value":261936,"shares":510,"shareType":"SH"},{"issuer":"VERIZON COMMUNICATIONS","titleOfClass":"COM","cusip":"92343V104","value":258105,"shares":6096,"shareType":"SH"},{"issuer":"ARAMARK","titleOfClass":"COM","cusip":"03852U106","value":254400,"shares":4471,"shareType":"SH"},{"issuer":"AT&T INC","titleOfClass":"COM","cusip":"00206R102","value":253285,"shares":12236,"shareType":"SH"},{"issuer":"BANK OF AMERICA CORP","titleOfClass":"COM","cusip":"060505104","value":249686,"shares":4382,"shareType":"SH"},{"issuer":"WELLTOWER INC","titleOfClass":"COM","cusip":"95040Q104","value":244220,"shares":1076,"shareType":"SH"},{"issuer":"HONEYWELL AEROSPACE INC","titleOfClass":"COM","cusip":"43849R105","value":241198,"shares":1091,"shareType":"SH"},{"issuer":"SPACE EXPLORATION TECHNOL","titleOfClass":"COM","cusip":"84615Q103","value":239204,"shares":1400,"shareType":"SH"},{"issuer":"MARVELL TECHNOLOGY INC","titleOfClass":"COM","cusip":"573874104","value":236823,"shares":795,"shareType":"SH"},{"issuer":"AGREE REALTY CORP","titleOfClass":"COM","cusip":"008492100","value":209648,"shares":2768,"shareType":"SH","priorValue":453788,"priorShares":6020},{"issuer":"NOKIA CORP-SPON ADR","titleOfClass":"COM","cusip":"654902204","value":208044,"shares":15666,"shareType":"SH","priorValue":279687,"priorShares":34787}]},"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}