|
|
 |
|
Holdings of the Fund as of 8/20/2026
Total Number of Holdings (excluding cash): 175
| Apple Inc. |
AAPL |
037833100 |
Information Technology |
594,461 |
$185,055,709.30 |
7.50% |
| NVIDIA Corporation |
NVDA |
67066G104 |
Information Technology |
665,206 |
$144,249,921.10 |
5.85% |
| US Dollar |
$USD |
|
Other |
85,075,057 |
$85,075,056.83 |
3.45% |
| JPMorgan Chase & Co. |
JPM |
46625H100 |
Financials |
191,639 |
$67,370,690.45 |
2.73% |
| Amazon.com, Inc. |
AMZN |
023135106 |
Consumer Discretionary |
242,024 |
$62,952,862.64 |
2.55% |
| GE Vernova Inc. |
GEV |
36828A101 |
Industrials |
62,729 |
$60,596,841.35 |
2.46% |
| Bank of America Corporation |
BAC |
060505104 |
Financials |
976,031 |
$60,377,277.66 |
2.45% |
| Microsoft Corporation |
MSFT |
594918104 |
Information Technology |
123,080 |
$59,219,942.00 |
2.40% |
| ASML Holding N.V. (New York Registry Shares) |
ASML |
N07059210 |
Information Technology |
32,317 |
$56,564,768.27 |
2.29% |
| Costco Wholesale Corporation |
COST |
22160K105 |
Consumer Staples |
59,304 |
$55,360,877.04 |
2.24% |
| Nebius Group N.V. |
NBIS |
N97284108 |
Information Technology |
239,194 |
$52,648,991.34 |
2.13% |
| Broadcom Inc. |
AVGO |
11135F101 |
Information Technology |
142,338 |
$51,815,302.14 |
2.10% |
| Alphabet Inc. (Class A) |
GOOGL |
02079K305 |
Communication Services |
147,151 |
$50,129,931.17 |
2.03% |
| Dell Technologies Inc. (Class C) |
DELL |
24703L202 |
Information Technology |
113,620 |
$49,399,703.60 |
2.00% |
| Alphabet Inc. (Class C) |
GOOG |
02079K107 |
Communication Services |
124,563 |
$42,127,206.60 |
1.71% |
| Amgen Inc. |
AMGN |
031162100 |
Health Care |
91,152 |
$39,535,356.96 |
1.60% |
| Oracle Corporation |
ORCL |
68389X105 |
Information Technology |
258,367 |
$36,706,199.69 |
1.49% |
| Cisco Systems, Inc. |
CSCO |
17275R102 |
Information Technology |
288,474 |
$31,613,865.66 |
1.28% |
| Gilead Sciences, Inc. |
GILD |
375558103 |
Health Care |
219,399 |
$31,470,592.56 |
1.28% |
| Linde Plc |
LIN |
G54950103 |
Materials |
61,069 |
$29,391,899.01 |
1.19% |
| ExxonMobil Holdings Corp. |
XOM |
30233Q108 |
Energy |
175,910 |
$29,227,446.50 |
1.18% |
| Johnson & Johnson |
JNJ |
478160104 |
Health Care |
106,739 |
$28,538,806.43 |
1.16% |
| Meta Platforms, Inc. (Class A) |
META |
30303M102 |
Communication Services |
51,034 |
$27,855,888.22 |
1.13% |
| Coca-Cola European Partners Plc |
CCEP |
G25839104 |
Consumer Staples |
250,951 |
$26,814,114.35 |
1.09% |
| AbbVie Inc. |
ABBV |
00287Y109 |
Health Care |
101,263 |
$26,513,691.29 |
1.07% |
| Fortinet, Inc. |
FTNT |
34959E109 |
Information Technology |
172,450 |
$26,003,735.50 |
1.05% |
| Eli Lilly and Company |
LLY |
532457108 |
Health Care |
20,564 |
$25,589,841.60 |
1.04% |
| Tesla, Inc. |
TSLA |
88160R101 |
Consumer Discretionary |
68,363 |
$23,594,122.19 |
0.96% |
| Union Pacific Corporation |
UNP |
907818108 |
Industrials |
76,959 |
$23,393,227.23 |
0.95% |
| Caterpillar Inc. |
CAT |
149123101 |
Industrials |
25,006 |
$20,389,642.34 |
0.83% |
| Comfort Systems USA, Inc. |
FIX |
199908104 |
Industrials |
12,110 |
$20,259,303.40 |
0.82% |
| Altria Group, Inc. |
MO |
02209S103 |
Consumer Staples |
283,075 |
$18,949,040.50 |
0.77% |
| Jackson Financial Inc. (Class A) |
JXN |
46817M107 |
Financials |
143,972 |
$18,592,544.08 |
0.75% |
| Colgate-Palmolive Company |
CL |
194162103 |
Consumer Staples |
204,091 |
$18,306,962.70 |
0.74% |
| Novartis AG (ADR) |
NVS |
66987V109 |
Health Care |
115,199 |
$17,998,691.76 |
0.73% |
| Celestica Inc. |
CLS |
15101Q207 |
Information Technology |
55,566 |
$16,780,932.00 |
0.68% |
| Palantir Technologies Inc. (Class A) |
PLTR |
69608A108 |
Information Technology |
95,295 |
$16,577,518.20 |
0.67% |
| Walmart Inc. |
WMT |
931142103 |
Consumer Staples |
158,004 |
$16,407,135.36 |
0.66% |
| EMCOR Group, Inc. |
EME |
29084Q100 |
Industrials |
19,493 |
$15,348,593.27 |
0.62% |
| InterDigital, Inc. |
IDCC |
45867G101 |
Information Technology |
44,626 |
$15,258,968.18 |
0.62% |
| Royalty Pharma Plc (Class A) |
RPRX |
G7709Q104 |
Health Care |
241,239 |
$14,614,258.62 |
0.59% |
| TechnipFMC Plc |
FTI |
G87110105 |
Energy |
188,183 |
$14,606,764.46 |
0.59% |
| Chevron Corporation |
CVX |
166764100 |
Energy |
70,125 |
$14,429,621.25 |
0.58% |
| The Coca-Cola Company |
KO |
191216100 |
Consumer Staples |
153,107 |
$13,856,183.50 |
0.56% |
| Citigroup Inc. |
C |
172967424 |
Financials |
104,691 |
$13,575,281.97 |
0.55% |
| Hilton Worldwide Holdings Inc. |
HLT |
43300A203 |
Consumer Discretionary |
41,541 |
$13,692,329.01 |
0.55% |
| IDACORP, Inc. |
IDA |
451107106 |
Utilities |
96,643 |
$13,540,650.73 |
0.55% |
| United Parcel Service, Inc. (Class B) |
UPS |
911312106 |
Industrials |
131,308 |
$13,469,574.64 |
0.55% |
| HF Sinclair Corp. |
DINO |
403949100 |
Energy |
144,006 |
$13,352,236.32 |
0.54% |
| Equinix, Inc. |
EQIX |
29444U700 |
Real Estate |
12,107 |
$13,107,159.27 |
0.53% |
| Curtiss-Wright Corporation |
CW |
231561101 |
Industrials |
18,949 |
$12,284,257.72 |
0.50% |
| GE Aerospace |
GE |
369604301 |
Industrials |
35,332 |
$12,176,820.48 |
0.49% |
| AngloGold Ashanti plc |
AU |
G0378L100 |
Materials |
103,747 |
$11,945,429.58 |
0.48% |
| Chubb Limited |
CB |
H1467J104 |
Financials |
34,578 |
$11,855,758.86 |
0.48% |
| Ross Stores, Inc. |
ROST |
778296103 |
Consumer Discretionary |
50,346 |
$11,528,730.54 |
0.47% |
| The Cigna Group |
CI |
125523100 |
Health Care |
41,660 |
$11,431,920.60 |
0.46% |
| The Travelers Companies, Inc. |
TRV |
89417E109 |
Financials |
31,027 |
$11,309,031.23 |
0.46% |
| The Williams Companies, Inc. |
WMB |
969457100 |
Energy |
158,154 |
$11,336,478.72 |
0.46% |
| US Foods Holding Corp. |
USFD |
912008109 |
Consumer Staples |
104,745 |
$11,360,642.70 |
0.46% |
| RTX Corporation |
RTX |
75513E101 |
Industrials |
52,765 |
$11,201,481.85 |
0.45% |
| Antero Midstream Corp. |
AM |
03676B102 |
Energy |
490,523 |
$10,919,041.98 |
0.44% |
| Netflix, Inc. |
NFLX |
64110L106 |
Communication Services |
136,452 |
$10,935,263.28 |
0.44% |
| Philip Morris International Inc. |
PM |
718172109 |
Consumer Staples |
56,277 |
$10,778,171.04 |
0.44% |
| Merck & Co., Inc. |
MRK |
58933Y105 |
Health Care |
70,674 |
$10,529,719.26 |
0.43% |
| Sterling Infrastructure, Inc. |
STRL |
859241101 |
Industrials |
20,604 |
$10,725,000.12 |
0.43% |
| British American Tobacco Plc (ADR) |
BTI |
110448107 |
Consumer Staples |
181,721 |
$10,303,580.70 |
0.42% |
| Vistra Corp. |
VST |
92840M102 |
Utilities |
74,547 |
$10,357,560.18 |
0.42% |
| DT Midstream, Inc. |
DTM |
23345M107 |
Energy |
73,607 |
$9,568,173.93 |
0.39% |
| APA Corporation |
APA |
03743Q108 |
Energy |
212,153 |
$9,417,471.67 |
0.38% |
| Ciena Corporation |
CIEN |
171779309 |
Information Technology |
23,900 |
$9,380,272.00 |
0.38% |
| The Goldman Sachs Group, Inc. |
GS |
38141G104 |
Financials |
9,367 |
$9,385,265.65 |
0.38% |
| Advanced Micro Devices, Inc. |
AMD |
007903107 |
Information Technology |
18,596 |
$8,729,985.23 |
0.35% |
| The Toronto-Dominion Bank |
TD |
891160509 |
Financials |
73,584 |
$8,598,290.40 |
0.35% |
| Advanced Energy Industries, Inc. |
AEIS |
007973100 |
Information Technology |
28,407 |
$8,312,456.34 |
0.34% |
| Digital Realty Trust, Inc. |
DLR |
253868103 |
Real Estate |
43,539 |
$8,459,627.70 |
0.34% |
| Yum! Brands, Inc. |
YUM |
988498101 |
Consumer Discretionary |
52,768 |
$8,038,149.44 |
0.33% |
| CME Group Inc. |
CME |
12572Q105 |
Financials |
28,873 |
$7,820,829.51 |
0.32% |
| Kinder Morgan, Inc. |
KMI |
49456B101 |
Energy |
239,817 |
$7,580,615.37 |
0.31% |
| The TJX Companies, Inc. |
TJX |
872540109 |
Consumer Discretionary |
53,652 |
$7,548,299.88 |
0.31% |
| Allison Transmission Holdings, Inc. |
ALSN |
01973R101 |
Industrials |
57,943 |
$7,481,600.16 |
0.30% |
| APi Group Corporation |
APG |
00187Y100 |
Industrials |
178,182 |
$7,471,171.27 |
0.30% |
| The Boeing Company |
BA |
097023105 |
Industrials |
34,655 |
$7,454,290.50 |
0.30% |
| Duke Energy Corporation |
DUK |
26441C204 |
Utilities |
57,801 |
$7,091,604.69 |
0.29% |
| ING Groep N.V. (ADR) |
ING |
456837103 |
Financials |
208,996 |
$7,210,362.00 |
0.29% |
| Encompass Health Corporation |
EHC |
29261A100 |
Health Care |
56,896 |
$6,879,295.36 |
0.28% |
| East West Bancorp, Inc. |
EWBC |
27579R104 |
Financials |
50,707 |
$6,586,332.23 |
0.27% |
| ITT Inc. |
ITT |
45073V108 |
Industrials |
32,077 |
$6,676,827.55 |
0.27% |
| Prologis, Inc. |
PLD |
74340W103 |
Real Estate |
48,098 |
$6,766,426.64 |
0.27% |
| Aflac Incorporated |
AFL |
001055102 |
Financials |
56,267 |
$6,536,537.39 |
0.26% |
| Entergy Corporation |
ETR |
29364G103 |
Utilities |
59,668 |
$6,404,763.12 |
0.26% |
| Southern Copper Corporation |
SCCO |
84265V105 |
Materials |
32,225 |
$6,404,074.25 |
0.26% |
| Taiwan Semiconductor Manufacturing Company Limited (ADR) |
TSM |
874039100 |
Information Technology |
15,706 |
$6,533,696.00 |
0.26% |
| UMB Financial Corporation |
UMBF |
902788108 |
Financials |
44,029 |
$6,422,069.94 |
0.26% |
| Cal-Maine Foods, Inc. |
CALM |
128030202 |
Consumer Staples |
73,361 |
$6,047,147.23 |
0.25% |
| Cboe Global Markets, Inc. |
CBOE |
12503M108 |
Financials |
21,150 |
$6,220,426.50 |
0.25% |
| Everpure, Inc. (Class A) |
P |
74624M102 |
Information Technology |
55,127 |
$6,062,867.46 |
0.25% |
| Royal Bank of Canada |
RY |
780087102 |
Financials |
30,314 |
$6,220,735.94 |
0.25% |
| Applied Materials, Inc. |
AMAT |
038222105 |
Information Technology |
11,727 |
$5,819,054.67 |
0.24% |
| DHT Holdings, Inc. |
DHT |
Y2065G121 |
Energy |
296,731 |
$5,875,273.80 |
0.24% |
| Unilever PLC (ADR) |
UL |
904767803 |
Consumer Staples |
93,313 |
$5,916,044.09 |
0.24% |
| Wells Fargo & Company |
WFC |
949746101 |
Financials |
71,637 |
$5,996,016.90 |
0.24% |
| AT&T Inc. |
T |
00206R102 |
Communication Services |
223,313 |
$5,616,321.95 |
0.23% |
| BlackRock, Inc. |
BLK |
09290D101 |
Financials |
4,879 |
$5,561,181.78 |
0.23% |
| Casey's General Stores, Inc. |
CASY |
147528103 |
Consumer Staples |
6,979 |
$5,781,264.02 |
0.23% |
| AerCap Holdings N.V. |
AER |
N00985106 |
Industrials |
36,379 |
$5,340,073.41 |
0.22% |
| Enbridge Inc. |
ENB |
29250N105 |
Energy |
106,884 |
$5,450,015.16 |
0.22% |
| Watts Water Technologies, Inc. |
WTS |
942749102 |
Industrials |
14,365 |
$5,313,613.50 |
0.22% |
| MYR Group Inc. |
MYRG |
55405W104 |
Industrials |
16,262 |
$5,171,316.00 |
0.21% |
| Urban Outfitters, Inc. |
URBN |
917047102 |
Consumer Discretionary |
71,481 |
$5,193,094.65 |
0.21% |
| Banco Santander S.A. (ADR) |
SAN |
05964H105 |
Financials |
355,367 |
$5,049,765.07 |
0.20% |
| Fluor Corporation |
FLR |
343412102 |
Industrials |
93,405 |
$4,872,004.80 |
0.20% |
| Nextpower Inc. (Class A) |
NXT |
65290E101 |
Industrials |
55,144 |
$4,844,951.84 |
0.20% |
| Sabra Health Care REIT, Inc. |
SBRA |
78573L106 |
Real Estate |
238,823 |
$4,903,036.19 |
0.20% |
| The Charles Schwab Corporation |
SCHW |
808513105 |
Financials |
44,954 |
$4,935,499.66 |
0.20% |
| International Business Machines Corporation |
IBM |
459200101 |
Information Technology |
20,573 |
$4,807,704.37 |
0.19% |
| Liberty Media Corp-Liberty Formula One (Class C) |
FWONK |
531229755 |
Communication Services |
44,081 |
$4,591,476.96 |
0.19% |
| Dave Inc. (Class A) |
DAVE |
23834J201 |
Financials |
12,939 |
$4,334,694.39 |
0.18% |
| Energy Transfer LP |
ET |
29273V100 |
Energy |
213,283 |
$4,523,732.43 |
0.18% |
| Wabtec Corporation |
WAB |
929740108 |
Industrials |
15,197 |
$4,442,235.07 |
0.18% |
| Anheuser-Busch InBev S.A./N.V. (ADR) |
BUD |
03524A108 |
Consumer Staples |
52,321 |
$4,076,852.32 |
0.17% |
| BankUnited, Inc. |
BKU |
06652K103 |
Financials |
90,896 |
$4,200,304.16 |
0.17% |
| Cloudflare, Inc. (Class A) |
NET |
18915M107 |
Information Technology |
15,271 |
$4,259,234.61 |
0.17% |
| Ionis Pharmaceuticals, Inc. |
IONS |
462222100 |
Health Care |
69,385 |
$4,077,062.60 |
0.17% |
| The Bank of Nova Scotia |
BNS |
064149107 |
Financials |
48,071 |
$4,155,257.24 |
0.17% |
| The Southern Company |
SO |
842587107 |
Utilities |
46,029 |
$4,208,431.47 |
0.17% |
| Leonardo DRS, Inc. |
DRS |
52661A108 |
Industrials |
95,287 |
$3,906,767.00 |
0.16% |
| NewMarket Corporation |
NEU |
651587107 |
Materials |
4,315 |
$4,002,637.15 |
0.16% |
| OPENLANE Inc. |
OPLN |
48238T109 |
Industrials |
115,586 |
$3,951,885.34 |
0.16% |
| America Movil, S.A.B. de C.V. (ADR) |
AMX |
02390A101 |
Communication Services |
153,006 |
$3,578,810.34 |
0.15% |
| Evergy, Inc. |
EVRG |
30034W106 |
Utilities |
44,279 |
$3,682,241.64 |
0.15% |
| Gold Fields Limited (ADR) |
GFI |
38059T106 |
Materials |
82,317 |
$3,741,307.65 |
0.15% |
| NiSource Inc. |
NI |
65473P105 |
Utilities |
80,394 |
$3,347,606.16 |
0.14% |
| Nordson Corporation |
NDSN |
655663102 |
Industrials |
9,980 |
$3,340,306.00 |
0.14% |
| Canadian Imperial Bank of Commerce |
CM |
136069101 |
Financials |
27,393 |
$3,169,096.17 |
0.13% |
| Performance Food Group Company |
PFGC |
71377A103 |
Consumer Staples |
31,175 |
$3,241,576.50 |
0.13% |
| Rio Tinto plc (ADR) |
RIO |
767204100 |
Materials |
32,314 |
$3,301,521.38 |
0.13% |
| Robinhood Markets, Inc. (Class A) |
HOOD |
770700102 |
Financials |
33,890 |
$3,222,939.00 |
0.13% |
| The Gap, Inc. |
GAP |
364760108 |
Consumer Discretionary |
163,037 |
$3,203,677.05 |
0.13% |
| Bank of Montreal |
BMO |
063671101 |
Financials |
17,362 |
$3,001,889.80 |
0.12% |
| Simon Property Group, Inc. |
SPG |
828806109 |
Real Estate |
13,903 |
$3,057,269.70 |
0.12% |
| SolarEdge Technologies, Inc. |
SEDG |
83417M104 |
Information Technology |
96,836 |
$2,992,232.40 |
0.12% |
| Vale S.A. (ADR) |
VALE |
91912E105 |
Materials |
215,966 |
$3,073,196.18 |
0.12% |
| Xcel Energy Inc. |
XEL |
98389B100 |
Utilities |
37,338 |
$2,938,873.98 |
0.12% |
| Deutsche Bank AG |
DB |
D18190898 |
Financials |
73,179 |
$2,748,603.24 |
0.11% |
| Kimco Realty Corporation |
KIM |
49446R109 |
Real Estate |
113,522 |
$2,742,691.52 |
0.11% |
| Morgan Stanley |
MS |
617446448 |
Financials |
13,224 |
$2,743,318.80 |
0.11% |
| Toll Brothers, Inc. |
TOL |
889478103 |
Consumer Discretionary |
18,974 |
$2,753,506.88 |
0.11% |
| TotalEnergies SE |
TTE |
F92124100 |
Energy |
29,665 |
$2,696,548.50 |
0.11% |
| Alamos Gold Inc. |
AGI |
011532108 |
Materials |
65,704 |
$2,410,679.76 |
0.10% |
| American Electric Power Company, Inc. |
AEP |
025537101 |
Utilities |
18,855 |
$2,370,073.50 |
0.10% |
| NextEra Energy, Inc. |
NEE |
65339F101 |
Utilities |
29,585 |
$2,515,612.55 |
0.10% |
| WEC Energy Group, Inc. |
WEC |
92939U106 |
Utilities |
21,901 |
$2,376,477.51 |
0.10% |
| Booking Holdings Inc. |
BKNG |
09857L108 |
Consumer Discretionary |
10,108 |
$2,121,365.96 |
0.09% |
| CVB Financial Corp. |
CVBF |
126600105 |
Financials |
99,335 |
$2,237,024.20 |
0.09% |
| Grand Canyon Education, Inc. |
LOPE |
38526M106 |
Consumer Discretionary |
15,896 |
$2,325,107.92 |
0.09% |
| TKO Group Holdings, Inc. (Class A) |
TKO |
87256C101 |
Communication Services |
11,504 |
$2,248,456.80 |
0.09% |
| Cirrus Logic, Inc. |
CRUS |
172755100 |
Information Technology |
16,791 |
$1,962,867.90 |
0.08% |
| OSI Systems, Inc. |
OSIS |
671044105 |
Information Technology |
8,624 |
$1,880,808.16 |
0.08% |
| Sempra |
SRE |
816851109 |
Utilities |
22,482 |
$1,964,477.16 |
0.08% |
| AMETEK, Inc. |
AME |
031100100 |
Industrials |
7,464 |
$1,784,493.12 |
0.07% |
| Edwards Lifesciences Corporation |
EW |
28176E108 |
Health Care |
18,139 |
$1,629,426.37 |
0.07% |
| Ferguson Enterprises Inc. |
FERG |
31488V107 |
Industrials |
7,120 |
$1,704,812.80 |
0.07% |
| NetEase, Inc. (ADR) |
NTES |
64110W102 |
Communication Services |
14,513 |
$1,738,802.53 |
0.07% |
| ARMOUR Residential REIT, Inc. |
ARR |
042315705 |
Financials |
85,360 |
$1,393,075.20 |
0.06% |
| National Health Investors, Inc. |
NHI |
63633D104 |
Real Estate |
20,614 |
$1,523,580.74 |
0.06% |
| Arch Capital Group Ltd. |
ACGL |
G0450A105 |
Financials |
11,954 |
$1,187,151.74 |
0.05% |
| The Hartford Insurance Group, Inc. |
HIG |
416515104 |
Financials |
9,420 |
$1,291,670.40 |
0.05% |
| VICI Properties Inc. |
VICI |
925652109 |
Real Estate |
34,500 |
$916,665.00 |
0.04% |
| Weyerhaeuser Company |
WY |
962166104 |
Real Estate |
16,251 |
$400,099.62 |
0.02% |
| Canadian Dollar |
$CAD |
|
Other |
156,795 |
$113,710.37 |
0.00% |
| 2026-09-18 S&P 500® Index - Price Return C 7,825 |
SPX 260918C07825000 |
|
N/A |
-325 |
($1,162,850.00) |
-0.05% |
| 2026-09-18 S&P 500® Index - Price Return C 7,775 |
SPX 260918C07775000 |
|
N/A |
-340 |
($1,964,180.00) |
-0.08% |
| 2026-09-18 S&P 500® Index - Price Return C 7,750 |
SPX 260918C07750000 |
|
N/A |
-325 |
($2,102,750.00) |
-0.09% |
| 2026-10-16 S&P 500® Index - Price Return C 7,800 |
SPX 261016C07800000 |
|
N/A |
-325 |
($3,250,650.00) |
-0.13% |
| 2026-09-18 S&P 500® Index - Price Return C 7,650 |
SPX 260918C07650000 |
|
N/A |
-320 |
($3,771,520.00) |
-0.15% |
| 2026-10-16 S&P 500® Index - Price Return C 7,750 |
SPX 261016C07750000 |
|
N/A |
-325 |
($4,037,150.00) |
-0.16% |
| 2026-09-18 S&P 500® Index - Price Return C 7,600 |
SPX 260918C07600000 |
|
N/A |
-320 |
($4,792,000.00) |
-0.19% |
Holdings are subject to change.
The holdings information set forth above for the date indicated reflects creation and redemption transactions from the prior business day and may differ from the holdings information currently available from the Fund's custodian and accounting agent. With respect to the market value of the Fund's holdings set forth above, the pricing sources are generally third party vendors. The Fund ultimately relies on pricing information provided by the Fund's accounting agent.
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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