Wright Fund Management LLC's Q3 2025 13F: 44 new positions, 27 exits
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Oct 20, 2025 · 94 reported positions · accession 0001754960-25-000691
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | SPDR SERIES TRUST (JNK) | 15.3% | 8.4% | −6.8 pts | −2.43M sh | −54% |
| Reduced | SSGA ACTIVE ETF TR (SRLN) | 7.8% | 0.2% | −7.7 pts | −5.26M sh | −98% |
| Reduced | SPDR SERIES TRUST (SPHY) | 8.7% | 3.7% | −5.0 pts | −6.75M sh | −64% |
| New | SPDR SERIES TRUST (SPYM) | — | 6.6% | +6.6 pts | +2.06M sh | new |
| Reduced | ISHARES TR (USHY) | 15.2% | 12.0% | −3.2 pts | −3.92M sh | −34% |
| New | VANGUARD BD INDEX FDS (BND) | — | 5.8% | +5.8 pts | +1.89M sh | new |
| Reduced | SPDR SERIES TRUST (SJNK) | 4.7% | 2.0% | −2.7 pts | −3.4M sh | −64% |
| Increased | ISHARES TR (HYG) | 6.6% | 11.3% | +4.8 pts | +1.04M sh | +44% |
| Reduced | ISHARES TR (TLT) | 3.1% | 0.1% | −3.0 pts | −932K sh | −98% |
| Reduced | VANGUARD SCOTTSDALE FDS (VCLT) | 3.6% | 1.1% | −2.5 pts | −985K sh | −74% |
| New | SPDR SERIES TRUST (CWB) | — | 2.1% | +2.1 pts | +574K sh | new |
| Reduced | SPDR SERIES TRUST (HYMB) | 2.0% | 0.2% | −1.8 pts | −2.07M sh | −91% |
| Reduced | DBX ETF TR (HYLB) | 3.2% | 1.8% | −1.4 pts | −1.31M sh | −53% |
| New | J P MORGAN EXCHANGE TRADED F (JMTG) | — | 1.9% | +1.9 pts | +901K sh | new |
| Reduced | VANECK ETF TRUST (HYD) | 1.5% | 0.1% | −1.4 pts | −785K sh | −97% |
| Increased | ISHARES TR (MBB) | 0.0% | 1.6% | +1.6 pts | +403K sh | +3058% |
| New | VANGUARD INDEX FDS (VUG) | — | 1.5% | +1.5 pts | +73,948 sh | new |
| Exited | JANUS DETROIT STR TR (JAAA) | 1.4% | — | −1.4 pts | −767K sh | −100% |
| Increased | PIMCO ETF TR (PYLD) | 0.7% | 2.1% | +1.5 pts | +1.22M sh | +168% |
| Exited | ISHARES TR (EFV) | 1.3% | — | −1.3 pts | −622K sh | −100% |
| Exited | VANGUARD INDEX FDS (VOO) | 1.2% | — | −1.2 pts | −67,861 sh | −100% |
| Reduced | ISHARES INC (EZU) | 1.1% | 0.2% | −0.8 pts | −482K sh | −84% |
| Increased | INVESCO EXCH TRADED FD TR II (BKLN) | 3.4% | 5.3% | +1.8 pts | +1.42M sh | +30% |
| New | VANGUARD INDEX FDS (VOT) | — | 1.2% | +1.2 pts | +97,667 sh | new |
| New | ISHARES TR (IMTM) | — | 1.2% | +1.2 pts | +585K sh | new |
| New | SPDR SERIES TRUST (FLRN) | — | 1.1% | +1.1 pts | +835K sh | new |
| New | ISHARES TR (PFF) | — | 1.0% | +1.0 pts | +792K sh | new |
| New | AMERICAN CENTY ETF TR (AVDV) | — | 1.0% | +1.0 pts | +277K sh | new |
| Exited | ISHARES TR (USMV) | 0.9% | — | −0.9 pts | −286K sh | −100% |
| New | DIMENSIONAL ETF TRUST (DFIV) | — | 0.9% | +0.9 pts | +496K sh | new |
| Increased | ISHARES TR (EMB) | 0.0% | 1.0% | +0.9 pts | +235K sh | +1760% |
| New | ISHARES TR (ICVT) | — | 0.9% | +0.9 pts | +220K sh | new |
| Exited | ISHARES INC (EWH) | 0.9% | — | −0.9 pts | −1.41M sh | −100% |
| Exited | JANUS DETROIT STR TR (JBBB) | 0.8% | — | −0.8 pts | −481K sh | −100% |
| Exited | SELECT SECTOR SPDR TR (XLF) | 0.8% | — | −0.8 pts | −460K sh | −100% |
| New | ISHARES TR (FLOT) | — | 0.8% | +0.8 pts | +374K sh | new |
| New | PIMCO ETF TR (BOND) | — | 0.8% | +0.8 pts | +204K sh | new |
| New | J P MORGAN EXCHANGE TRADED F (JBND) | — | 0.8% | +0.8 pts | +352K sh | new |
| Exited | ISHARES INC (EWG) | 0.8% | — | −0.8 pts | −585K sh | −100% |
| Increased | VANECK ETF TRUST (EMLC) | 1.3% | 2.4% | +1.0 pts | +680K sh | +43% |
| Exited | SPDR DOW JONES INDL AVERAGE (DIA) | 0.7% | — | −0.7 pts | −47,356 sh | −100% |
| Reduced | ISHARES TR (SHYG) | 2.5% | 2.2% | −0.2 pts | −390K sh | −24% |
| Increased | VANGUARD INTL EQUITY INDEX F (VWO) | 0.0% | 0.7% | +0.7 pts | +308K sh | +2386% |
| Exited | ISHARES TR (IYK) | 0.7% | — | −0.7 pts | −269K sh | −100% |
| Exited | FIRST TR EXCHANGE-TRADED FD (EMLP) | 0.7% | — | −0.7 pts | −494K sh | −100% |
| New | VANGUARD INDEX FDS (VBK) | — | 0.7% | +0.7 pts | +53,355 sh | new |
| New | AMERICAN CENTY ETF TR (AVUV) | — | 0.6% | +0.6 pts | +157K sh | new |
| New | VANECK ETF TRUST (CLOI) | — | 0.6% | +0.6 pts | +265K sh | new |
| New | ISHARES INC (EWC) | — | 0.5% | +0.5 pts | +247K sh | new |
| Increased | DIMENSIONAL ETF TRUST (DISV) | 0.0% | 0.5% | +0.5 pts | +331K sh | +1315% |
The 50 largest of 120 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 59.9% of the equity book
Changes in the top 10 this quarter: SPYM entered · BND entered · EMLC entered · SHYG entered · PYLD entered · SRLN left · SJNK left · VCLT left · HYLB left · TLT left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ISHARES TR (USHY) | 15.2% | 12.0% | |
| 2 | ISHARES TR (HYG) | 6.6% | 11.3% | |
| 3 | SPDR SERIES TRUST (JNK) | 15.3% | 8.4% | |
| 4 | SPDR SERIES TRUST (SPYM) | 0.0% | 6.6% | Entered the top 10 |
| 5 | VANGUARD BD INDEX FDS (BND) | 0.0% | 5.8% | Entered the top 10 |
| 6 | INVESCO EXCH TRADED FD TR II (BKLN) | 3.4% | 5.3% | |
| 7 | SPDR SERIES TRUST (SPHY) | 8.7% | 3.7% | |
| 8 | VANECK ETF TRUST (EMLC) | 1.3% | 2.4% | Entered the top 10 |
| 9 | ISHARES TR (SHYG) | 2.5% | 2.2% | Entered the top 10 |
| 10 | PIMCO ETF TR (PYLD) | 0.7% | 2.1% | Entered the top 10 |
| — | SSGA ACTIVE ETF TR (SRLN) | 7.8% | 0.2% | Left the top 10 |
| — | SPDR SERIES TRUST (SJNK) | 4.7% | 2.0% | Left the top 10 |
| — | VANGUARD SCOTTSDALE FDS (VCLT) | 3.6% | 1.1% | Left the top 10 |
| — | DBX ETF TR (HYLB) | 3.2% | 1.8% | Left the top 10 |
| — | ISHARES TR (TLT) | 3.1% | 0.1% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).