CHOATE INVESTMENT ADVISORS

PrivateCIK: 1399794

Location

BOSTON, MA

438

Positions

$5.11B

Total AUM (reported)

34.21M

Total Shares

Allocation by class

CORE S&P500 ETF$1.68B32.9%

COM$1.47B28.8%

INTRM GOV CR ETF$235.25M4.6%

ALLWRLD EX US$233.17M4.6%

CORE MSCI EMKT$196.66M3.8%

OAKMARK U S LRG$167.98M3.3%

STATE STREET SPD$138.91M2.7%

Portfolio Concentration

Top 3$2.15B42.1%

4–10$979.87M19.2%

11–25$763.18M14.9%

Rest$1.22B23.8%

Top 3 weight

42.1%

Top 10 weight

61.3%

Voting Authority Distribution

Total shares with voting rights: 34.21M

Sole

Full voting authority

30.23M

% of voting shares88.4%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

3.97M

% of voting shares11.6%

Investment Discretion (by position count)

Sole438

Shared0

Other0

Dominant voting typeSole · 88.4% of voting shares

Institutional Holdings438

Rows:

ISHARES TR

SOLE

CORE S&P500 ETF

Shares2.58M

TypeSH

Market value$1.68B

32.94%

Sole

2.51M

Shared

0.00

None

65.60K

ISHARES TR

SOLE

INTRM GOV CR ETF

Shares2.21M

TypeSH

Market value$235.25M

4.60%

Sole

2.14M

Shared

0.00

None

63.12K

VANGUARD INTL EQUITY INDEX F

SOLE

ALLWRLD EX US

Shares3.10M

TypeSH

Market value$233.17M

4.56%

Sole

2.99M

Shared

0.00

None

112.84K

ISHARES INC

SOLE

CORE MSCI EMKT

Shares2.82M

TypeSH

Market value$196.66M

3.85%

Sole

2.78M

Shared

0.00

None

42.34K

HARRIS OAKMARK ETF TRUST

SOLE

OAKMARK U S LRG

Shares6.09M

TypeSH

Market value$167.98M

3.29%

Sole

6.04M

Shared

0.00

None

56.45K

APPLE INC

SOLE

COM

Shares624.25K

TypeSH

Market value$158.43M

3.10%

Sole

511.58K

Shared

0.00

None

112.67K

SPDR SERIES TRUST

SOLE

STATE STREET SPD

Shares2.38M

TypeSH

Market value$126.09M

2.47%

Sole

2.38M

Shared

0.00

None

369.00

MICROSOFT CORP

SOLE

COM

Shares324.69K

TypeSH

Market value$120.19M

2.35%

Sole

250.93K

Shared

0.00

None

73.76K

NVIDIA CORPORATION

SOLE

COM

Shares641.73K

TypeSH

Market value$111.92M

2.19%

Sole

401.50K

Shared

0.00

None

240.23K

AMAZON COM INC

SOLE

COM

Shares473.42K

TypeSH

Market value$98.60M

1.93%

Sole

330.91K

Shared

0.00

None

142.51K

ALPHABET INC

SOLE

CAP STK CL A

Shares297.19K

TypeSH

Market value$85.46M

1.67%

Sole

189.47K

Shared

0.00

None

107.73K

ISHARES TR

SOLE

NATIONAL MUN ETF

Shares717.75K

TypeSH

Market value$76.19M

1.49%

Sole

711.96K

Shared

0.00

None

5.80K

ALPHABET INC

SOLE

CAP STK CL C

Shares219.40K

TypeSH

Market value$62.94M

1.23%

Sole

192.09K

Shared

0.00

None

27.31K

STATE STR SPDR S&P 500 ETF T

SOLE

TR UNIT

Shares92.23K

TypeSH

Market value$59.98M

1.17%

Sole

76.76K

Shared

0.00

None

15.47K

VANGUARD INDEX FDS

SOLE

TOTAL STK MKT

Shares170K

TypeSH

Market value$54.54M

1.07%

Sole

93.56K

Shared

0.00

None

76.43K

WALMART INC

SOLE

COM

Shares416.01K

TypeSH

Market value$51.70M

1.01%

Sole

276.23K

Shared

0.00

None

139.78K

JPMORGAN CHASE & CO

SOLE

COM

Shares160.83K

TypeSH

Market value$47.31M

0.93%

Sole

145.57K

Shared

0.00

None

15.27K

ELI LILLY & CO

SOLE

COM

Shares50.79K

TypeSH

Market value$46.71M

0.91%

Sole

38.05K

Shared

0.00

None

12.74K

JOHNSON & JOHNSON

SOLE

COM

Shares187.56K

TypeSH

Market value$45.85M

0.90%

Sole

127.90K

Shared

0.00

None

59.66K

TAIWAN SEMICONDUCTOR MANUFAC

SOLE

HOME DEPOT INC

SOLE

COM

Shares131.88K

TypeSH

Market value$43.38M

0.85%

Sole

91.98K

Shared

0.00

None

39.90K

VANGUARD TAX-MANAGED FDS

SOLE

VAN FTSE DEV MKT

Shares622.73K

TypeSH

Market value$39.90M

0.78%

Sole

318.23K

Shared

0.00

None

304.50K

TJX COS INC NEW

SOLE

COM

Shares249.03K

TypeSH

Market value$39.77M

0.78%

Sole

166.45K

Shared

0.00

None

82.59K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares67.65K

TypeSH

Market value$32.42M

0.63%

Sole

63.82K

Shared

0.00

None

3.83K

VISA INC

SOLE

COM CL A

Shares105.63K

TypeSH

Market value$31.92M

0.62%

Sole

43.58K

Shared

0.00

None

62.05K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
ISHARES TRSOLE	CORE S&P500 ETF	2.58M	SH	$1.68B 32.94%	2.51M	65.60K
ISHARES TRSOLE	INTRM GOV CR ETF	2.21M	SH	$235.25M 4.60%	2.14M	63.12K
VANGUARD INTL EQUITY INDEX FSOLE	ALLWRLD EX US	3.10M	SH	$233.17M 4.56%	2.99M	112.84K
ISHARES INCSOLE	CORE MSCI EMKT	2.82M	SH	$196.66M 3.85%	2.78M	42.34K
HARRIS OAKMARK ETF TRUSTSOLE	OAKMARK U S LRG	6.09M	SH	$167.98M 3.29%	6.04M	56.45K
APPLE INCSOLE	COM	624.25K	SH	$158.43M 3.10%	511.58K	112.67K
SPDR SERIES TRUSTSOLE	STATE STREET SPD	2.38M	SH	$126.09M 2.47%	2.38M	369.00
MICROSOFT CORPSOLE	COM	324.69K	SH	$120.19M 2.35%	250.93K	73.76K
NVIDIA CORPORATIONSOLE	COM	641.73K	SH	$111.92M 2.19%	401.50K	240.23K
AMAZON COM INCSOLE	COM	473.42K	SH	$98.60M 1.93%	330.91K	142.51K
ALPHABET INCSOLE	CAP STK CL A	297.19K	SH	$85.46M 1.67%	189.47K	107.73K
ISHARES TRSOLE	NATIONAL MUN ETF	717.75K	SH	$76.19M 1.49%	711.96K	5.80K
ALPHABET INCSOLE	CAP STK CL C	219.40K	SH	$62.94M 1.23%	192.09K	27.31K
STATE STR SPDR S&P 500 ETF TSOLE	TR UNIT	92.23K	SH	$59.98M 1.17%	76.76K	15.47K
VANGUARD INDEX FDSSOLE	TOTAL STK MKT	170K	SH	$54.54M 1.07%	93.56K	76.43K
WALMART INCSOLE	COM	416.01K	SH	$51.70M 1.01%	276.23K	139.78K
JPMORGAN CHASE & COSOLE	COM	160.83K	SH	$47.31M 0.93%	145.57K	15.27K
ELI LILLY & COSOLE	COM	50.79K	SH	$46.71M 0.91%	38.05K	12.74K
JOHNSON & JOHNSONSOLE	COM	187.56K	SH	$45.85M 0.90%	127.90K	59.66K
TAIWAN SEMICONDUCTOR MANUFACSOLE	SPONSORED ADS	133.48K	SH	$45.11M 0.88%	91.60K	41.88K
HOME DEPOT INCSOLE	COM	131.88K	SH	$43.38M 0.85%	91.98K	39.90K
VANGUARD TAX-MANAGED FDSSOLE	VAN FTSE DEV MKT	622.73K	SH	$39.90M 0.78%	318.23K	304.50K
TJX COS INC NEWSOLE	COM	249.03K	SH	$39.77M 0.78%	166.45K	82.59K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	67.65K	SH	$32.42M 0.63%	63.82K	3.83K
VISA INCSOLE	COM CL A	105.63K	SH	$31.92M 0.62%	43.58K	62.05K

Page 1 of 18

…