SPTM(SPTM)
AI Look-Through Summary
AI GeneratedThe portfolio's sector allocation is heavily skewed towards technology, with a 35.1% weight, followed by financial services and communication services. This concentration in tech suggests that the fund has been influenced by the dominance of large-cap tech names in recent years. The weighted P/E ratio of 27.3x indicates that the fund has a relatively high valuation posture, which may be a concern for investors who prefer more attractive valuations.
The top holdings list is dominated by FAAMG constituents (NVDA and META aside), with NVIDIA being the largest holding at 7.2%. This concentration in large-cap tech stocks means that the fund's performance will likely be closely tied to the fortunes of these companies. In terms of sector exposure, the fund has a relatively high weight in technology compared to the broader market, which may make it more sensitive to changes in the tech sector. A favorable macro environment for this portfolio would likely involve continued growth in the tech sector and stable or improving valuations.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-14 08:34:00.178663+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 15/100The investment theme implied by the ticker SPTM, often associated with specific sector strategies or thematic bets depending on market context, shows significant divergence from its actual composition. The fund is heavily weighted toward mega-cap technology giants such as NVIDIA, Apple, and Microsoft, which collectively dominate the top holdings list despite representing only a fraction of the total portfolio count. While these names are leaders in their respective fields, their overwhelming presence suggests the fund may be leveraging broad market concentration to stabilize returns rather than maintaining a strict adherence to a narrower thematic definition. The inclusion of major financial institutions like Berkshire Hathaway and JPMorgan Chase further dilutes any potential focus on pure technology or innovation sectors, indicating that the underlying strategy relies more on large-cap stability than on specific sectoral exposure.
Sector analysis reveals a lack of coherence with typical thematic differentiation strategies found in specialized funds. Although Technology accounts for nearly one-third of assets under management, the presence of substantial allocations to Financial Services, Healthcare, and Energy creates a profile that closely mirrors broad market indices rather than distinct thematic alternatives. The top-ten concentration stands at 36.1%, highlighting an extreme reliance on just ten securities across these disparate industries. This structure implies that the fund's performance will be driven primarily by the movements of its largest constituents regardless of broader sector trends, effectively functioning as a large-cap value or blend strategy rather than a pure-play thematic vehicle. Consequently, investors seeking exposure to a specific innovation narrative may find this allocation insufficiently focused on their intended investment objective.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 14:00:27.743976+00
⚠️ Systemic Risk Synthesis
AI GeneratedThe newly disclosed risk factors across the top holdings of SPTM highlight a converging set of systemic threats centered on regulatory compliance, specifically regarding climate change regulations, data privacy requirements, and artificial intelligence governance. Multiple major technology constituents, most notably NVIDIA with its highest weight in the portfolio at 7.7%, explicitly flag that adherence to evolving environmental standards could materially adversely impact financial conditions. Simultaneously, cybersecurity risks tied to increasing data privacy mandates are identified as potential drivers of higher operational costs across these firms, while emerging AI regulations pose a dual threat of increased expenditure and competitive disadvantage. These disclosures suggest that the portfolio is increasingly exposed to external policy shifts rather than purely internal market dynamics.
The concentration of these specific risk categories within the fund's largest positions signals a significant degree of correlated downside potential. With NVIDIA alone accounting for 7.7% of assets under management, its exposure to climate regulation and AI compliance creates a substantial footprint for this systemic theme. When combined with similar disclosures from other high-weight holdings such as Apple (6.5%) and Microsoft (4.5%), the fund's performance becomes tightly linked to how broadly these regulatory frameworks are implemented globally or domestically. This clustering indicates that adverse developments in one jurisdiction regarding environmental reporting, data protection laws, or AI usage guidelines could simultaneously depress valuations across a large portion of the portfolio's core assets rather than isolating impact to single entities.
While NVIDIA dominates the narrative with three distinct risk disclosures, other top holdings like Amazon and Alphabet also face scrutiny over similar regulatory fronts, reinforcing the breadth of this exposure beyond just one company. The sheer weight assigned to these technology leaders means that any material adverse event stemming from non-compliance or costly operational adjustments in response to new laws would disproportionately affect total fund returns compared to a more diversified equity basket. Observers should note that these factors represent specific disclosures regarding potential future costs and competitive impacts, reflecting the current regulatory landscape facing dominant market players.
Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-23 20:54:01.910524+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of SPTM reveals a distinct investment thesis heavily anchored in the technology landscape, which commands 35.1% of the portfolio and is further amplified by an intense concentration within mega-cap equities. The top five holdings alone account for nearly one-quarter of total assets, with NVIDIA leading at 8.2%, followed closely by Apple, Microsoft, Amazon, and Google. This structure indicates a strategy that prioritizes exposure to large-scale innovation leaders while accepting significant idiosyncratic risk tied to the performance of these specific giants. The fund's approach suggests a belief in sustained growth from established market dominators rather than broad-based diversification across mid-cap or small-cap technology firms, as evidenced by the high weightings relative to other sectors.
Beyond its tech-heavy core, the portfolio exhibits notable tilts toward consumer discretionary spending and communication services, comprising over 20% of assets when combined. This allocation pattern aligns with a growth-oriented factor tilt, favoring companies with scalable business models and potential for revenue expansion over stable, income-generating utilities or defensive staples, which collectively represent less than 7% of the fund. The substantial presence in financial services and industrials provides some thematic breadth related to economic activity but remains secondary to the primary driver of technological advancement.
From a risk perspective, the data highlights considerable concentration risk inherent in this structure. With the top ten holdings representing over 36% of assets and NVIDIA alone comprising more than eight percent, the fund's performance will be disproportionately influenced by volatility within these specific names. While the inclusion of healthcare and industrials offers slight diversification benefits, they are insufficient to fully mitigate the systemic risks associated with such a heavy reliance on a narrow set of technology leaders. The portfolio effectively functions as an amplified leveraged bet on the success of current market titans rather than a broadly diversified representation of the entire equity universe.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-17 01:02:31.694598+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share SPTM's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of SPTM's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| ONEOONEO | $25M | — | 843 | 93.2% |
| SPYState Street SPDR S&P 500 ETF Trust | $640B | 0.09% | 505 | 92.1% |
| VTIVanguard Total Stock Market Index Fund ETF Shares | $2.1T | 0.03% | 468 | 92.0% |
| QUSQUS | $1B | — | 483 | 91.8% |
| VOOVanguard S&P 500 ETF | $1.5T | 0.03% | 499 | 91.3% |
93% of SPTM's portfolio by weight is also held by ONEO. When ONEO receives inflows, it mechanically buys these shared stocks — dragging SPTM's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofSPTM's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 96% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 79% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside SPTM collectively pay out 36% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 62% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietarySPTM is up 19.7% over the last 12 months. The underlying weighted earnings growth of its constituents is +38.5%. Despite earnings growth, valuations have contracted by 18.8% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 77% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of SPTM's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of SPTM's analyzed weight, 70% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 30% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 73% of fund weight with available data. Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
SPTM has a Passive Crowding Score of 36/100. On average, 10.9% of the market capitalization of SPTM's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 50 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORP Technology | 7.15% | 31.7x | 4/9 |
| 2 | AAPL | APPLE INC Technology | 6.97% | 40.3x | 8/9 |
| 3 | MSFT | MICROSOFT CORP Technology | 4.24% | 23.4x | 5/9 |
| 4 | AMZN | AMAZON.COM INC Consumer Cyclical | 3.48% | 29.9x | 6/9 |
| 5 | GOOGL | ALPHABET INC CL A Communication Services | 2.96% | 27.0x | 6/9 |
| 6 | AVGO | BROADCOM INC Technology | 2.52% | 62.1x | 8/9 |
| 7 | GOOG | ALPHABET INC CL C Communication Services | 2.38% | 27.0x | 6/9 |
| 8 | META | META PLATFORMS INC CLASS A Communication Services | 2.07% | 24.2x | 5/9 |
| 9 | TSLA | TESLA INC Consumer Cyclical | 1.56% | 349.4x | 5/9 |
| 10 | MU | MICRON TECHNOLOGY INC Technology | 1.37% | 19.3x | 7/9 |
| 11 | LLY | ELI LILLY + CO Healthcare | 1.31% | 41.5x | 7/9 |
| 12 | JPM | JPMORGAN CHASE + CO Financial Services | 1.31% | 14.7x | 3/9 |
| 13 | BRK.B | BERKSHIRE HATHAWAY INC CL B Financial Services | 1.28% | 14.7x | — |
| 14 | AMD | ADVANCED MICRO DEVICES Technology | 1.16% | 166.9x | 7/9 |
| 15 | V | VISA INC CLASS A SHARES Financial Services | 0.87% | 31.8x | 6/9 |
Historical Holdings Snapshots
Browse how SPTM’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-18
15 holdings · 40.6% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 7.15% | 4,720,413 | — |
| 2 | AAPL | 6.97% | 2,862,488 | — |
| 3 | MSFT | 4.24% | 1,447,759 | — |
| 4 | AMZN | 3.48% | 1,907,803 | — |
| 5 | GOOGL | 2.96% | 1,142,786 | — |
| 6 | AVGO | 2.52% | 922,768 | — |
| 7 | GOOG | 2.38% | 920,176 | — |
| 8 | META | 2.07% | 427,388 | — |
| 9 | TSLA | 1.56% | 547,835 | — |
| 10 | MU | 1.37% | 219,773 | — |
| 11 | LLY | 1.31% | 153,879 | — |
| 12 | JPM | 1.31% | 521,180 | — |
| 13 | BRK.B | 1.28% | 356,597 | — |
| 14 | AMD | 1.16% | 317,160 | — |
| 15 | V | 0.87% | 324,738 | — |
2026-07-17
15 holdings · 41.1% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 7.29% | 4,712,543 | — |
| 2 | AAPL | 6.82% | 2,857,713 | — |
| 3 | MSFT | 4.16% | 1,445,344 | — |
| 4 | AMZN | 3.54% | 1,904,623 | — |
| 5 | GOOGL | 3.08% | 1,140,881 | — |
| 6 | AVGO | 2.65% | 921,228 | — |
| 7 | GOOG | 2.48% | 918,641 | — |
| 8 | META | 2.12% | 426,673 | — |
| 9 | TSLA | 1.57% | 546,920 | — |
| 10 | MU | 1.45% | 219,408 | — |
| 11 | JPM | 1.31% | 520,310 | — |
| 12 | LLY | 1.29% | 153,624 | — |
| 13 | BRK.B | 1.27% | 356,002 | — |
| 14 | AMD | 1.22% | 316,630 | — |
| 15 | XOM | 0.85% | 804,108 | — |
2026-07-16
15 holdings · 40.6% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 7.30% | 4,712,543 | — |
| 2 | AAPL | 6.58% | 2,857,713 | — |
| 3 | MSFT | 4.07% | 1,445,344 | — |
| 4 | AMZN | 3.45% | 1,904,623 | — |
| 5 | GOOGL | 3.00% | 1,140,881 | — |
| 6 | AVGO | 2.62% | 921,228 | — |
| 7 | GOOG | 2.40% | 918,641 | — |
| 8 | META | 2.06% | 426,673 | — |
| 9 | TSLA | 1.58% | 546,920 | — |
| 10 | MU | 1.58% | 219,408 | — |
| 11 | JPM | 1.30% | 520,310 | — |
| 12 | LLY | 1.29% | 153,624 | — |
| 13 | BRK.B | 1.28% | 356,002 | — |
| 14 | AMD | 1.27% | 316,630 | — |
| 15 | JNJ | 0.87% | 469,328 | — |
2026-07-15
15 holdings · 40.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 7.04% | 4,712,543 | — |
| 2 | AAPL | 6.65% | 2,857,713 | — |
| 3 | MSFT | 4.15% | 1,445,344 | — |
| 4 | AMZN | 3.46% | 1,904,623 | — |
| 5 | GOOGL | 2.95% | 1,140,881 | — |
| 6 | AVGO | 2.60% | 921,228 | — |
| 7 | GOOG | 2.36% | 918,641 | — |
| 8 | META | 2.06% | 426,673 | — |
| 9 | TSLA | 1.58% | 546,920 | — |
| 10 | MU | 1.51% | 219,408 | — |
| 11 | LLY | 1.33% | 153,624 | — |
| 12 | BRK.B | 1.30% | 356,002 | — |
| 13 | JPM | 1.28% | 520,310 | — |
| 14 | AMD | 1.24% | 316,630 | — |
| 15 | JNJ | 0.89% | 469,328 | — |
2026-07-14
15 holdings · 40.6% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 7.24% | 4,710,969 | — |
| 2 | AAPL | 6.56% | 2,856,759 | — |
| 3 | MSFT | 4.05% | 1,444,861 | — |
| 4 | AMZN | 3.40% | 1,903,987 | — |
| 5 | GOOGL | 2.97% | 1,140,500 | — |
| 6 | AVGO | 2.68% | 920,920 | — |
| 7 | GOOG | 2.38% | 918,334 | — |
| 8 | META | 2.08% | 426,530 | — |
| 9 | TSLA | 1.62% | 546,737 | — |
| 10 | MU | 1.56% | 219,335 | — |
| 11 | LLY | 1.33% | 153,573 | — |
| 12 | AMD | 1.29% | 316,524 | — |
| 13 | BRK.B | 1.28% | 355,883 | — |
| 14 | JPM | 1.27% | 520,136 | — |
| 15 | JNJ | 0.88% | 469,172 | — |
2026-07-13
15 holdings · 40.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.99% | 4,706,247 | — |
| 2 | AAPL | 6.61% | 2,853,897 | — |
| 3 | MSFT | 4.06% | 1,443,412 | — |
| 4 | AMZN | 3.44% | 1,902,079 | — |
| 5 | GOOGL | 2.99% | 1,139,357 | — |
| 6 | AVGO | 2.70% | 919,996 | — |
| 7 | GOOG | 2.39% | 917,413 | — |
| 8 | META | 1.97% | 426,101 | — |
| 9 | TSLA | 1.63% | 546,188 | — |
| 10 | MU | 1.59% | 219,116 | — |
| 11 | LLY | 1.37% | 153,420 | — |
| 12 | BRK.B | 1.29% | 355,526 | — |
| 13 | JPM | 1.28% | 519,614 | — |
| 14 | AMD | 1.27% | 316,206 | — |
| 15 | JNJ | 0.89% | 468,704 | — |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove SPTM Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How SPTM’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Positions Increased (50)
Positions Decreased (0)
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Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-17.
SecuritiesDB is for informational purposes only. Not investment advice.