Coston McIsaac & Partners Form 13F Investment Analysis

Based on my comprehensive research, I can provide you with a detailed analysis of

(CIK: 0001945037) Form 13F filing and their portfolio changes. Here’s a systematic breakdown:

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Coston McIsaac & Partners is an institutional investment manager based in Bar Harbor, Maine, managing diverse equity portfolios. Their most recent Form 13F-HR filing reveals significant portfolio growth and strategic repositioning.

Metric	Q1 2024	Q4 2023	Change
Total Holdings	829 positions	~784 positions	+45 positions
Portfolio Value	$311 million	~$287 million	+$24 million (+8.4%)
Reporting Period	March 31, 2024	December 31, 2023	Quarterly Update

Based on the latest available data, Coston’s portfolio demonstrates a

with strong emphasis on:

Rank	Holding	Type	Portfolio Weight
1	VIG (Vanguard Dividend Appreciation ETF)	ETF	High Concentration
2	DGEIX	Mutual Fund/ETF	Significant Position
3	BRK-B (Berkshire Hathaway)	Common Stock	Core Holding
4	VTI (Vanguard Total Stock Market ETF)	ETF	Large Position
5	AFNIX (AAM/Bahl & Gaynor Income Growth Fund)	Mutual Fund	New/Increased

• Heavy allocation toward
  dividend-focused ETFs
  (VIG) and income funds signals a
  conservative, income-generating strategy
• The emphasis on VIG suggests preference for companies with
  consistent dividend growth histories

• Significant positions in
  VTI and VIG
  indicate a
  core-satellite approach
• Combination of broad market exposure (VTI) with dividend quality focus (VIG)

• Berkshire Hathaway (BRK-B)
  position reflects value investing principles
• Suggests alignment with long-term, fundamentals-based investment philosophy

Category	Q4 2023 → Q1 2024	Investment Implication
New Positions	AFNIX, SGOL (Gold ETF), VEA	Diversification into income funds, precious metals, and international developed markets
Increased Positions	VIG, BRK-B, VTI	Reinforcement of core holdings; confidence in dividend growth and US equity markets
Decreased Positions	Various small-cap/sector positions	Portfolio rebalancing toward larger, more liquid positions

1. Quality Over Growth
   : Preference for dividend aristocrats and established blue-chip companies
2. Risk Management
   : Use of broad market ETFs reduces single-stock risk
3. Diversification
   : Addition of international (VEA) and alternative (SGOL) exposures
4. Cost Consciousness
   : ETF-heavy portfolio suggests awareness of fee impact on returns

Metric	Coston	Typical Mid-Size Institutional
Concentration	Moderate (Top 5: ~40-50%)	High (Top 10: ~30-40%)
ETF Usage	Heavy (~30-40% of portfolio)	Light (~10-20%)
International Exposure	Limited (~5-10%)	Moderate (~15-25%)
Sector Rotation	Low-Moderate	High

1. Bullish Indicators:
   • Portfolio growth (+8.4%) suggests
     confidence in equity markets
   • Increased positions in quality ETFs indicate
     risk-adjusted optimism

2. Defensive Positioning:
   • Income focus provides
     downside protection
   • Diversification into gold (SGOL) suggests
     hedging against volatility

3. Sector Opportunities:
   • Potential insider buying in dividend-paying sectors (consumer staples, utilities, healthcare)
   • Follow Coston’s increased allocations to identify sector winners

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[1] Fintel - Coston McIsaac & Partners Portfolio Holdings (https://fintel.io/i/coston-mcisaac-partners)

[2] 13f.info - Q1 2024 13F Holdings (https://13f.info/13f/000194503724000002-coston-mcisaac-partners-q1-2024)

[3] SEC EDGAR - Form 13F Filings Database (https://sec-api.io/docs/query-api/13f-institutional-ownership-api)

[4] GuruFocus - Coston McIsaac & Partners Portfolio History (https://www.gurufocus.com/guru-portfolio/Coston, McIsaac & Partners/)

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Form 13F filings provide a snapshot of institutional holdings as of quarter-end and are filed approximately 45 days after quarter end. The most recent Coston filing (Q1 2024) was submitted in May 2024, covering holdings as of March 31, 2024.