SYNTAX RESEARCH, INC.

Filed: 5/7/2025ACC: 0001398344-25-008843

📋 What this filing means

SYNTAX RESEARCH, INC. filed this quarterly 13F‑HR report disclosing 190 equity positions with a total reported market value of $144.84M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

190

Positions

$144.84M

Total AUM (reported)

1.84M

Total Shares

Allocation by class

COMM$34.38M23.7%

COM$26.32M18.2%

CORE S&P500 ETF$13.00M9.0%

REIT$7.52M5.2%

1 3 YR TREAS BD$7.39M5.1%

MSCI USA VALUE$6.43M4.4%

7-10 YR TRSY BD$5.97M4.1%

Portfolio Concentration

Top 3$26.82M18.5%

4–10$33.08M22.8%

11–25$39.20M27.1%

Rest$45.74M31.6%

Top 3 weight

18.5%

Top 10 weight

41.4%

Voting Authority Distribution

Total shares with voting rights: 1.84M

Sole

Full voting authority

912K

% of voting shares49.6%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

924.91K

% of voting shares50.4%

Investment Discretion (by position count)

Sole190

Shared0

Other0

Dominant voting typeNone · 50.4% of voting shares

Institutional Holdings190

Rows:

ISHARES TR

SOLE

CORE S&P500 ETF

Shares23.14K

TypeSH

Market value$13.00M

8.98%

Sole

0.00

Shared

0.00

None

23.14K

ISHARES TR

SOLE

1 3 YR TREAS BD

Shares89.34K

TypeSH

Market value$7.39M

5.10%

Sole

0.00

Shared

0.00

None

89.34K

ISHARES TR

SOLE

MSCI USA VALUE

Shares60.29K

TypeSH

Market value$6.43M

4.44%

Sole

0.00

Shared

0.00

None

60.29K

APPLE INC

SOLE

COM

Shares28.89K

TypeSH

Market value$6.42M

4.43%

Sole

0.00

Shared

0.00

None

28.89K

ISHARES TR

SOLE

7-10 YR TRSY BD

Shares62.58K

TypeSH

Market value$5.97M

4.12%

Sole

0.00

Shared

0.00

None

62.58K

PROSHARES TR

SOLE

S&P 500 DV ARIST

Shares50.08K

TypeSH

Market value$5.12M

3.53%

Sole

0.00

Shared

0.00

None

50.08K

SPDR S&P 500 ETF TR

SOLE

TR UNIT

Shares8.07K

TypeSH

Market value$4.51M

3.12%

Sole

0.00

Shared

0.00

None

8.07K

ISHARES TR

SOLE

MSCI ACWI EX US

Shares69.49K

TypeSH

Market value$3.85M

2.66%

Sole

0.00

Shared

0.00

None

69.49K

ISHARES TR

SOLE

CORE S&P MCP ETF

Shares64.62K

TypeSH

Market value$3.77M

2.60%

Sole

0.00

Shared

0.00

None

64.62K

ISHARES TR

SOLE

CORE S&P SCP ETF

Shares32.85K

TypeSH

Market value$3.44M

2.37%

Sole

0.00

Shared

0.00

None

32.85K

ISHARES TR

SOLE

CORE MSCI EURO

Shares56.85K

TypeSH

Market value$3.42M

2.36%

Sole

0.00

Shared

0.00

None

56.85K

ISHARES TR

SOLE

IBOXX INV CP ETF

Shares30.26K

TypeSH

Market value$3.29M

2.27%

Sole

0.00

Shared

0.00

None

30.26K

Newmont Corp

SOLE

COMM

Shares60K

TypeSH

Market value$2.90M

2.00%

Sole

60K

Shared

0.00

None

0.00

AMERICAN TOWER CORP-CL A

SOLE

COMM

Shares13K

TypeSH

Market value$2.83M

1.95%

Sole

13K

Shared

0.00

None

0.00

PROLOGIS INC

SOLE

REIT

Shares25K

TypeSH

Market value$2.79M

1.93%

Sole

25K

Shared

0.00

None

0.00

SCHLUMBERGER LTD

SOLE

COMM

Shares65K

TypeSH

Market value$2.72M

1.88%

Sole

65K

Shared

0.00

None

0.00

FREEPORT MCMORAN INC

SOLE

COMM

Shares70K

TypeSH

Market value$2.65M

1.83%

Sole

70K

Shared

0.00

None

0.00

AMERICOLD REALTY TRUST

SOLE

REIT

Shares120K

TypeSH

Market value$2.58M

1.78%

Sole

120K

Shared

0.00

None

0.00

MICROSOFT CORP

SOLE

COM

Shares6.85K

TypeSH

Market value$2.57M

1.78%

Sole

0.00

Shared

0.00

None

6.85K

NUTRIEN LTD

SOLE

COMM

Shares50K

TypeSH

Market value$2.48M

1.71%

Sole

50K

Shared

0.00

None

0.00

VALE S A - ADR

SOLE

ADRS

Shares230K

TypeSH

Market value$2.30M

1.58%

Sole

230K

Shared

0.00

None

0.00

MERCK & CO. INC.

SOLE

COMM

Shares25K

TypeSH

Market value$2.24M

1.55%

Sole

25K

Shared

0.00

None

0.00

FEDEX CORP

SOLE

COMM

Shares9K

TypeSH

Market value$2.19M

1.51%

Sole

Shared

0.00

None

0.00

DIGITAL REALTY TRUST INC

SOLE

REIT

Shares15K

TypeSH

Market value$2.15M

1.48%

Sole

15K

Shared

0.00

None

0.00

DOW INC

SOLE

COMM

Shares60K

TypeSH

Market value$2.10M

1.45%

Sole

60K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
ISHARES TRSOLE	CORE S&P500 ETF	23.14K	SH	$13.00M 8.98%	0.00	23.14K
ISHARES TRSOLE	1 3 YR TREAS BD	89.34K	SH	$7.39M 5.10%	0.00	89.34K
ISHARES TRSOLE	MSCI USA VALUE	60.29K	SH	$6.43M 4.44%	0.00	60.29K
APPLE INCSOLE	COM	28.89K	SH	$6.42M 4.43%	0.00	28.89K
ISHARES TRSOLE	7-10 YR TRSY BD	62.58K	SH	$5.97M 4.12%	0.00	62.58K
PROSHARES TRSOLE	S&P 500 DV ARIST	50.08K	SH	$5.12M 3.53%	0.00	50.08K
SPDR S&P 500 ETF TRSOLE	TR UNIT	8.07K	SH	$4.51M 3.12%	0.00	8.07K
ISHARES TRSOLE	MSCI ACWI EX US	69.49K	SH	$3.85M 2.66%	0.00	69.49K
ISHARES TRSOLE	CORE S&P MCP ETF	64.62K	SH	$3.77M 2.60%	0.00	64.62K
ISHARES TRSOLE	CORE S&P SCP ETF	32.85K	SH	$3.44M 2.37%	0.00	32.85K
ISHARES TRSOLE	CORE MSCI EURO	56.85K	SH	$3.42M 2.36%	0.00	56.85K
ISHARES TRSOLE	IBOXX INV CP ETF	30.26K	SH	$3.29M 2.27%	0.00	30.26K
Newmont CorpSOLE	COMM	60K	SH	$2.90M 2.00%	60K	0.00
AMERICAN TOWER CORP-CL ASOLE	COMM	13K	SH	$2.83M 1.95%	13K	0.00
PROLOGIS INCSOLE	REIT	25K	SH	$2.79M 1.93%	25K	0.00
SCHLUMBERGER LTDSOLE	COMM	65K	SH	$2.72M 1.88%	65K	0.00
FREEPORT MCMORAN INCSOLE	COMM	70K	SH	$2.65M 1.83%	70K	0.00
AMERICOLD REALTY TRUSTSOLE	REIT	120K	SH	$2.58M 1.78%	120K	0.00
MICROSOFT CORPSOLE	COM	6.85K	SH	$2.57M 1.78%	0.00	6.85K
NUTRIEN LTDSOLE	COMM	50K	SH	$2.48M 1.71%	50K	0.00
VALE S A - ADRSOLE	ADRS	230K	SH	$2.30M 1.58%	230K	0.00
MERCK & CO. INC.SOLE	COMM	25K	SH	$2.24M 1.55%	25K	0.00
FEDEX CORPSOLE	COMM	9K	SH	$2.19M 1.51%	9K	0.00
DIGITAL REALTY TRUST INCSOLE	REIT	15K	SH	$2.15M 1.48%	15K	0.00
DOW INCSOLE	COMM	60K	SH	$2.10M 1.45%	60K	0.00

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