Wright Fund Management LLC's Q4 2025 13F: 12 new positions, 21 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Jan 15, 2026 · 85 reported positions · accession 0001754960-26-000064
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | SPDR SERIES TRUST (CWB) | 2.1% | 0.1% | −2.0 pts | −550K sh | −96% |
| Reduced | INVESCO EXCH TRADED FD TR II (BKLN) | 5.3% | 3.7% | −1.5 pts | −2.29M sh | −38% |
| Increased | ISHARES TR (EMB) | 1.0% | 2.8% | +1.8 pts | +374K sh | +150% |
| Reduced | VANGUARD BD INDEX FDS (BND) | 5.8% | 5.2% | −0.6 pts | −382K sh | −20% |
| Exited | ISHARES TR (FALN) | 1.3% | — | −1.3 pts | −1.13M sh | −100% |
| Increased | SSGA ACTIVE ETF TR (SRLN) | 0.2% | 1.3% | +1.1 pts | +580K sh | +549% |
| Exited | VANGUARD SCOTTSDALE FDS (VCLT) | 1.1% | — | −1.1 pts | −343K sh | −100% |
| Exited | SPDR SERIES TRUST (FLRN) | 1.1% | — | −1.1 pts | −835K sh | −100% |
| Exited | ISHARES TR (ICVT) | 0.9% | — | −0.9 pts | −220K sh | −100% |
| Exited | ISHARES TR (HYDB) | 0.8% | — | −0.8 pts | −428K sh | −100% |
| Reduced | SPDR SERIES TRUST (JNK) | 8.4% | 8.7% | +0.3 pts | −184K sh | −9% |
| New | JANUS DETROIT STR TR (JAAA) | — | 0.8% | +0.8 pts | +354K sh | new |
| Reduced | VANGUARD INDEX FDS (VOT) | 1.2% | 0.5% | −0.7 pts | −60,007 sh | −61% |
| Reduced | ISHARES TR (ITA) | 0.8% | 0.2% | −0.6 pts | −72,714 sh | −80% |
| Increased | VANECK ETF TRUST (EMLC) | 2.4% | 3.4% | +1.0 pts | +530K sh | +24% |
| Reduced | AMERICAN CENTY ETF TR (AVUV) | 0.6% | 0.1% | −0.5 pts | −133K sh | −84% |
| Exited | VANECK ETF TRUST (CLOI) | 0.6% | — | −0.6 pts | −265K sh | −100% |
| Reduced | ISHARES TR (FLOT) | 0.8% | 0.3% | −0.5 pts | −237K sh | −63% |
| Increased | AMERICAN CENTY ETF TR (AVDV) | 1.0% | 1.8% | +0.8 pts | +126K sh | +45% |
| Reduced | ISHARES TR (IMTM) | 1.2% | 0.8% | −0.3 pts | −227K sh | −39% |
| Reduced | VANGUARD INTL EQUITY INDEX F (VWO) | 0.7% | 0.3% | −0.4 pts | −189K sh | −59% |
| Increased | VANGUARD INDEX FDS (VUG) | 1.5% | 2.2% | +0.7 pts | +20,749 sh | +28% |
| Increased | ISHARES TR (TLT) | 0.1% | 0.5% | +0.5 pts | +115K sh | +718% |
| Reduced | ISHARES TR (SHYG) | 2.2% | 2.0% | −0.2 pts | −230K sh | −19% |
| Exited | GLOBAL X FDS (PFFD) | 0.4% | — | −0.4 pts | −560K sh | −100% |
| New | WISDOMTREE TR (DXJ) | — | 0.4% | +0.4 pts | +63,736 sh | new |
| Exited | FLEXSHARES TR (HYGV) | 0.4% | — | −0.4 pts | −249K sh | −100% |
| Exited | FIRST TR EXCHANGE-TRADED FD (HYLS) | 0.4% | — | −0.4 pts | −242K sh | −100% |
| Exited | FRANKLIN TEMPLETON ETF TR (FLBL) | 0.4% | — | −0.4 pts | −408K sh | −100% |
| New | ISHARES TR (IBB) | — | 0.3% | +0.3 pts | +43,823 sh | new |
| Reduced | VANECK ETF TRUST (ANGL) | 1.3% | 1.1% | −0.2 pts | −237K sh | −23% |
| Exited | ISHARES INC (EWI) | 0.3% | — | −0.3 pts | −135K sh | −100% |
| Reduced | SPDR SERIES TRUST (HYMB) | 0.2% | 0.1% | −0.2 pts | −169K sh | −78% |
| Increased | SPDR SERIES TRUST (SPHY) | 3.7% | 4.3% | +0.6 pts | +164K sh | +4% |
| Reduced | ISHARES TR (HYG) | 11.3% | 12.6% | +1.3 pts | −47,700 sh | −1% |
| Increased | ETFIS SER TR I (PFFA) | 0.3% | 0.5% | +0.2 pts | +169K sh | +52% |
| New | SCHWAB STRATEGIC TR (SCHX) | — | 0.2% | +0.2 pts | +128K sh | new |
| Exited | ISHARES TR (IVV) | 0.2% | — | −0.2 pts | −5,651 sh | −100% |
| New | ISHARES TR (ILF) | — | 0.1% | +0.1 pts | +93,278 sh | new |
| New | SCHWAB STRATEGIC TR (SCHG) | — | 0.1% | +0.1 pts | +84,396 sh | new |
| Exited | INVESCO EXCH TRADED FD TR II (QQQM) | 0.1% | — | −0.1 pts | −12,664 sh | −100% |
| New | VANECK ETF TRUST (OIH) | — | 0.1% | +0.1 pts | +9,018 sh | new |
| New | ETF SER SOLUTIONS (QTUM) | — | 0.1% | +0.1 pts | +22,484 sh | new |
| Reduced | ISHARES INC (EZU) | 0.2% | 0.2% | −0.1 pts | −38,400 sh | −42% |
| Reduced | VANECK ETF TRUST (HYEM) | 0.2% | 0.1% | −0.1 pts | −123K sh | −52% |
| Increased | ISHARES TR (PFF) | 1.0% | 1.3% | +0.2 pts | +76,659 sh | +10% |
| Reduced | VANECK ETF TRUST (PFXF) | 0.1% | 0.0% | −0.1 pts | −115K sh | −83% |
| Exited | PIMCO ETF TR (SMMU) | 0.1% | — | −0.1 pts | −41,300 sh | −100% |
| Reduced | ISHARES TR (USHY) | 12.0% | 13.5% | +1.4 pts | −47,119 sh | −1% |
| Reduced | DIMENSIONAL ETF TRUST (DFIV) | 0.9% | 1.1% | +0.1 pts | −32,100 sh | −6% |
The 50 largest of 81 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 — 64.5% of the equity book
Changes in the top 10 this quarter: EMB entered · SHYG left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ISHARES TR (USHY) | 12.0% | 13.5% | |
| 2 | ISHARES TR (HYG) | 11.3% | 12.6% | |
| 3 | SPDR SERIES TRUST (JNK) | 8.4% | 8.7% | |
| 4 | SPDR SERIES TRUST (SPYM) | 6.6% | 7.8% | |
| 5 | VANGUARD BD INDEX FDS (BND) | 5.8% | 5.2% | |
| 6 | SPDR SERIES TRUST (SPHY) | 3.7% | 4.3% | |
| 7 | INVESCO EXCH TRADED FD TR II (BKLN) | 5.3% | 3.7% | |
| 8 | VANECK ETF TRUST (EMLC) | 2.4% | 3.4% | |
| 9 | ISHARES TR (EMB) | 1.0% | 2.8% | Entered the top 10 |
| 10 | PIMCO ETF TR (PYLD) | 2.1% | 2.4% | |
| — | ISHARES TR (SHYG) | 2.2% | 2.0% | 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).