High Falls Advisors, Inc quarter change: USA ETF, Reduced
In exchange-traded fund shares (known by the fund name on the filing) (listed in the US), from the quarter ended 2025-09-30 to 2025-12-31, High Falls Advisors, Inc opened 13 positions, added to 48, reduced 40, sold out of 11 and left 6 unchanged. The largest increase in value was IUSB (+$44,191,817); the largest decrease was IUSB (-$45,571,721).
- QUAL: Country of operation —; Class MSCI USA QLT FCT; Shares 2025-09-30 134,082; Shares 2025-12-31 73,422.
- EFV: Country of operation —; Class EAFE VALUE ETF; Shares 2025-09-30 375,388; Shares 2025-12-31 321,564.
- EFG: Country of operation —; Class EAFE GRWTH ETF; Shares 2025-09-30 29,451; Shares 2025-12-31 13,483.
- QQQ: Country of operation —; Class UNIT SER 1; Shares 2025-09-30 9,500; Shares 2025-12-31 6,605.
Two Form 13F-HR filings compared (SEC CIK 1569139): 2025-09-30 (filed 2025-11-14) and 2025-12-31 (filed 2026-02-18). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move; share change is the position change.
| Stock | Country of operation | Class | Shares 2025-09-30 | Shares 2025-12-31 | Share change | Value 2025-09-30 | Value 2025-12-31 | Value change |
|---|
QUAL
ISHARES TR | | MSCI USA QLT FCT | 134,082 | 73,422 | -60,660 | $26,078,975 | $14,583,003 | -$11,495,972 |
|---|
EFV
ISHARES TR | | EAFE VALUE ETF | 375,388 | 321,564 | -53,824 | $25,462,554 | $22,962,910 | -$2,499,644 |
|---|
EFG
ISHARES TR | | EAFE GRWTH ETF | 29,451 | 13,483 | -15,968 | $3,353,890 | $1,535,972 | -$1,817,918 |
|---|
QQQ
INVESCO QQQ TR | | UNIT SER 1 | 9,500 | 6,605 | -2,895 | $5,703,719 | $4,057,239 | -$1,646,480 |
|---|
STIP
ISHARES TR | | 0-5 YR TIPS ETF | 16,734 | 1,956 | -14,778 | $1,729,579 | $200,314 | -$1,529,265 |
|---|
IYW
ISHARES TR | | U.S. TECH ETF | 13,564 | 9,487 | -4,077 | $2,656,689 | $1,894,414 | -$762,275 |
|---|
SPY
SPDR S&P 500 ETF TR | | TR UNIT | 5,427 | 4,377 | -1,050 | $3,615,659 | $2,984,668 | -$630,991 |
|---|
DVY
ISHARES TR | | SELECT DIVID ETF | 9,396 | 6,128 | -3,268 | $1,335,178 | $864,950 | -$470,228 |
|---|
VTEB
VANGUARD MUN BD FDS | | TAX EXEMPT BD | 132,772 | 124,241 | -8,531 | $6,647,909 | $6,248,095 | -$399,814 |
|---|
QLTA
ISHARES TR | | A RATE CP BD ETF | 17,157 | 10,282 | -6,875 | $831,604 | $494,449 | -$337,155 |
|---|
IUSG
ISHARES TR | | CORE S&P US GWT | 4,744 | 2,681 | -2,063 | $780,559 | $450,247 | -$330,312 |
|---|
HIMU
BLACKROCK ETF TRUST II | | ISHARES HIGH YIE | 29,728 | 25,728 | -4,000 | $1,462,312 | $1,252,438 | -$209,874 |
|---|
IEFA
ISHARES TR | | CORE MSCI EAFE | 5,656 | 3,280 | -2,376 | $493,795 | $293,450 | -$200,345 |
|---|
IWO
ISHARES TR | | RUS 2000 GRW ETF | 1,666 | 1,071 | -595 | $533,280 | $346,065 | -$187,215 |
|---|
VUG
VANGUARD INDEX FDS | | GROWTH ETF | 798 | 522 | -276 | $382,594 | $254,534 | -$128,060 |
|---|
LQD
ISHARES TR | | IBOXX INV CP ETF | 5,691 | 4,624 | -1,067 | $634,380 | $509,473 | -$124,907 |
|---|
CGUS
CAPITAL GROUP CORE EQUITY ET | | SHS CREATION UNI | 14,959 | 11,926 | -3,033 | $591,476 | $479,783 | -$111,693 |
|---|
AOR
ISHARES TR | | CORE 60/40 BALAN | 14,276 | 12,495 | -1,781 | $919,106 | $812,321 | -$106,785 |
|---|
FNDF
SCHWAB STRATEGIC TR | | FUNDAMENTAL INTL | 7,002 | 4,900 | -2,102 | $300,790 | $221,541 | -$79,249 |
|---|
IXN
ISHARES TR | | GLOBAL TECH ETF | 4,576 | 3,746 | -830 | $472,265 | $393,315 | -$78,950 |
|---|
USMV
ISHARES TR | | MSCI USA MIN VOL | 9,782 | 9,112 | -670 | $930,618 | $858,028 | -$72,590 |
|---|
IWP
ISHARES TR | | RUS MD CP GR ETF | 2,893 | 2,480 | -413 | $411,964 | $339,589 | -$72,375 |
|---|
IJH
ISHARES TR | | CORE S&P MCP ETF | 8,131 | 6,965 | -1,166 | $530,643 | $459,699 | -$70,944 |
|---|
ESGU
ISHARES TR | | ESG AWR MSCI USA | 17,681 | 17,673 | -8 | $2,574,313 | $2,632,867 | +$58,554 |
|---|
HYGW
ISHARES TR | | HIGH YLD CORP BD | 10,945 | 9,450 | -1,495 | $332,413 | $282,186 | -$50,227 |
|---|
FDMO
FIDELITY COVINGTON TRUST | | MOMENTUM FACTR | 4,874 | 4,242 | -632 | $405,411 | $356,181 | -$49,230 |
|---|
MDY
SPDR S&P MIDCAP 400 ETF TR | | UTSER1 S&PDCRP | 2,002 | 1,902 | -100 | $1,192,982 | $1,147,165 | -$45,817 |
|---|
FDEV
FIDELITY COVINGTON TRUST | | INTL MULTIFACTOR | 15,119 | 13,185 | -1,934 | $501,210 | $456,338 | -$44,872 |
|---|
IJR
ISHARES TR | | CORE S&P SCP ETF | 3,195 | 2,787 | -408 | $379,663 | $334,888 | -$44,775 |
|---|
SUB
ISHARES TR | | SHRT NAT MUN ETF | 3,024 | 2,653 | -371 | $322,853 | $283,093 | -$39,760 |
|---|
VGT
VANGUARD WORLD FD | | INF TECH ETF | 847 | 800 | -47 | $632,396 | $603,024 | -$29,372 |
|---|
AOA
ISHARES TR | | CORE 80/20 AGGRE | 11,519 | 11,013 | -506 | $1,015,296 | $986,363 | -$28,933 |
|---|
SMH
VANECK ETF TRUST | | SEMICONDUCTR ETF | 753 | 744 | -9 | $245,626 | $268,081 | +$22,455 |
|---|
IEF
ISHARES TR | | 7-10 YR TRSY BD | 4,254 | 4,062 | -192 | $410,311 | $390,608 | -$19,703 |
|---|
IWF
ISHARES TR | | RUS 1000 GRW ETF | 2,830 | 2,828 | -2 | $1,325,690 | $1,338,263 | +$12,573 |
|---|
ACWX
ISHARES TR | | MSCI ACWI EX US | 7,148 | 7,101 | -47 | $464,710 | $476,707 | +$11,997 |
|---|
SPLV
INVESCO EXCH TRADED FD TR II | | S&P500 LOW VOL | 4,468 | 4,437 | -31 | $328,345 | $316,861 | -$11,484 |
|---|
EMXC
ISHARES INC | | MSCI EMRG CHN | 11,378 | 10,482 | -896 | $768,159 | $761,849 | -$6,310 |
|---|
RSP
INVESCO EXCHANGE TRADED FD T | | S&P500 EQL WGT | 1,800 | 1,757 | -43 | $341,434 | $336,666 | -$4,768 |
|---|
VYM
VANGUARD WHITEHALL FDS | | HIGH DIV YLD | 1,583 | 1,525 | -58 | $223,162 | $218,846 | -$4,316 |
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