|
|
 |
|
Holdings of the Fund as of 8/19/2026
Total Number of Holdings (excluding cash): 175
| Apple Inc. |
AAPL |
037833100 |
Information Technology |
593,885 |
$188,160,584.55 |
7.58% |
| NVIDIA Corporation |
NVDA |
67066G104 |
Information Technology |
664,562 |
$144,582,108.72 |
5.83% |
| US Dollar |
$USD |
|
Other |
81,642,289 |
$81,642,288.57 |
3.29% |
| JPMorgan Chase & Co. |
JPM |
46625H100 |
Financials |
191,453 |
$68,398,498.78 |
2.76% |
| Amazon.com, Inc. |
AMZN |
023135106 |
Consumer Discretionary |
241,790 |
$64,277,453.60 |
2.59% |
| GE Vernova Inc. |
GEV |
36828A101 |
Industrials |
62,669 |
$61,883,130.83 |
2.49% |
| Bank of America Corporation |
BAC |
060505104 |
Financials |
975,085 |
$61,596,119.45 |
2.48% |
| Microsoft Corporation |
MSFT |
594918104 |
Information Technology |
122,960 |
$59,550,757.60 |
2.40% |
| ASML Holding N.V. (New York Registry Shares) |
ASML |
N07059210 |
Information Technology |
32,285 |
$56,554,603.05 |
2.28% |
| Costco Wholesale Corporation |
COST |
22160K105 |
Consumer Staples |
59,246 |
$56,697,829.54 |
2.28% |
| Nebius Group N.V. |
NBIS |
N97284108 |
Information Technology |
238,962 |
$53,503,591.80 |
2.16% |
| Broadcom Inc. |
AVGO |
11135F101 |
Information Technology |
142,200 |
$51,544,656.00 |
2.08% |
| Alphabet Inc. (Class A) |
GOOGL |
02079K305 |
Communication Services |
147,009 |
$50,676,942.48 |
2.04% |
| Dell Technologies Inc. (Class C) |
DELL |
24703L202 |
Information Technology |
113,510 |
$49,666,300.50 |
2.00% |
| Alphabet Inc. (Class C) |
GOOG |
02079K107 |
Communication Services |
124,443 |
$42,522,173.10 |
1.71% |
| Amgen Inc. |
AMGN |
031162100 |
Health Care |
91,064 |
$40,283,071.04 |
1.62% |
| Oracle Corporation |
ORCL |
68389X105 |
Information Technology |
258,117 |
$37,119,805.77 |
1.50% |
| Gilead Sciences, Inc. |
GILD |
375558103 |
Health Care |
219,187 |
$32,352,001.20 |
1.30% |
| Cisco Systems, Inc. |
CSCO |
17275R102 |
Information Technology |
288,194 |
$31,859,846.70 |
1.28% |
| Linde Plc |
LIN |
G54950103 |
Materials |
61,009 |
$29,353,260.17 |
1.18% |
| ExxonMobil Holdings Corp. |
XOM |
30233Q108 |
Energy |
175,740 |
$28,956,679.80 |
1.17% |
| Johnson & Johnson |
JNJ |
478160104 |
Health Care |
106,635 |
$29,155,075.35 |
1.17% |
| Meta Platforms, Inc. (Class A) |
META |
30303M102 |
Communication Services |
50,984 |
$27,838,793.52 |
1.12% |
| AbbVie Inc. |
ABBV |
00287Y109 |
Health Care |
101,165 |
$26,906,855.05 |
1.08% |
| Coca-Cola European Partners Plc |
CCEP |
G25839104 |
Consumer Staples |
250,707 |
$26,745,422.76 |
1.08% |
| Eli Lilly and Company |
LLY |
532457108 |
Health Care |
20,544 |
$26,303,304.96 |
1.06% |
| Fortinet, Inc. |
FTNT |
34959E109 |
Information Technology |
172,282 |
$26,333,303.70 |
1.06% |
| Tesla, Inc. |
TSLA |
88160R101 |
Consumer Discretionary |
68,297 |
$23,980,442.64 |
0.97% |
| Union Pacific Corporation |
UNP |
907818108 |
Industrials |
76,885 |
$23,203,893.00 |
0.93% |
| Comfort Systems USA, Inc. |
FIX |
199908104 |
Industrials |
12,098 |
$20,518,933.88 |
0.83% |
| Caterpillar Inc. |
CAT |
149123101 |
Industrials |
24,982 |
$20,389,059.30 |
0.82% |
| Jackson Financial Inc. (Class A) |
JXN |
46817M107 |
Financials |
143,832 |
$18,847,745.28 |
0.76% |
| Altria Group, Inc. |
MO |
02209S103 |
Consumer Staples |
282,801 |
$18,673,350.03 |
0.75% |
| Colgate-Palmolive Company |
CL |
194162103 |
Consumer Staples |
203,893 |
$18,527,756.91 |
0.75% |
| Novartis AG (ADR) |
NVS |
66987V109 |
Health Care |
115,087 |
$18,449,596.97 |
0.74% |
| Walmart Inc. |
WMT |
931142103 |
Consumer Staples |
157,850 |
$18,042,255.00 |
0.73% |
| Celestica Inc. |
CLS |
15101Q207 |
Information Technology |
55,512 |
$16,729,096.32 |
0.67% |
| Palantir Technologies Inc. (Class A) |
PLTR |
69608A108 |
Information Technology |
95,203 |
$16,678,613.57 |
0.67% |
| EMCOR Group, Inc. |
EME |
29084Q100 |
Industrials |
19,475 |
$15,692,565.50 |
0.63% |
| InterDigital, Inc. |
IDCC |
45867G101 |
Information Technology |
44,582 |
$15,374,548.52 |
0.62% |
| Royalty Pharma Plc (Class A) |
RPRX |
G7709Q104 |
Health Care |
241,005 |
$14,877,238.65 |
0.60% |
| Chevron Corporation |
CVX |
166764100 |
Energy |
70,057 |
$14,414,928.32 |
0.58% |
| TechnipFMC Plc |
FTI |
G87110105 |
Energy |
188,001 |
$14,479,837.02 |
0.58% |
| Citigroup Inc. |
C |
172967424 |
Financials |
104,589 |
$13,898,832.21 |
0.56% |
| Hilton Worldwide Holdings Inc. |
HLT |
43300A203 |
Consumer Discretionary |
41,501 |
$13,891,629.73 |
0.56% |
| The Coca-Cola Company |
KO |
191216100 |
Consumer Staples |
152,959 |
$13,819,845.65 |
0.56% |
| HF Sinclair Corp. |
DINO |
403949100 |
Energy |
143,866 |
$13,612,600.92 |
0.55% |
| IDACORP, Inc. |
IDA |
451107106 |
Utilities |
96,549 |
$13,590,237.24 |
0.55% |
| United Parcel Service, Inc. (Class B) |
UPS |
911312106 |
Industrials |
131,180 |
$13,493,174.80 |
0.54% |
| Equinix, Inc. |
EQIX |
29444U700 |
Real Estate |
12,095 |
$13,027,282.60 |
0.52% |
| Curtiss-Wright Corporation |
CW |
231561101 |
Industrials |
18,931 |
$12,746,999.54 |
0.51% |
| GE Aerospace |
GE |
369604301 |
Industrials |
35,298 |
$12,574,206.54 |
0.51% |
| Ross Stores, Inc. |
ROST |
778296103 |
Consumer Discretionary |
50,298 |
$11,804,437.62 |
0.48% |
| Chubb Limited |
CB |
H1467J104 |
Financials |
34,544 |
$11,776,740.48 |
0.47% |
| RTX Corporation |
RTX |
75513E101 |
Industrials |
52,713 |
$11,615,309.55 |
0.47% |
| The Cigna Group |
CI |
125523100 |
Health Care |
41,620 |
$11,547,469.00 |
0.47% |
| The Williams Companies, Inc. |
WMB |
969457100 |
Energy |
158,000 |
$11,571,920.00 |
0.47% |
| AngloGold Ashanti plc |
AU |
G0378L100 |
Materials |
103,647 |
$11,249,845.38 |
0.45% |
| The Travelers Companies, Inc. |
TRV |
89417E109 |
Financials |
30,997 |
$11,227,733.34 |
0.45% |
| US Foods Holding Corp. |
USFD |
912008109 |
Consumer Staples |
104,643 |
$11,251,215.36 |
0.45% |
| Antero Midstream Corp. |
AM |
03676B102 |
Energy |
490,047 |
$10,986,853.74 |
0.44% |
| Netflix, Inc. |
NFLX |
64110L106 |
Communication Services |
136,320 |
$10,935,590.40 |
0.44% |
| Sterling Infrastructure, Inc. |
STRL |
859241101 |
Industrials |
20,584 |
$11,000,089.60 |
0.44% |
| Merck & Co., Inc. |
MRK |
58933Y105 |
Health Care |
70,606 |
$10,746,233.20 |
0.43% |
| Philip Morris International Inc. |
PM |
718172109 |
Consumer Staples |
56,223 |
$10,678,434.39 |
0.43% |
| Vistra Corp. |
VST |
92840M102 |
Utilities |
74,475 |
$10,627,582.50 |
0.43% |
| British American Tobacco Plc (ADR) |
BTI |
110448107 |
Consumer Staples |
181,545 |
$10,162,889.10 |
0.41% |
| DT Midstream, Inc. |
DTM |
23345M107 |
Energy |
73,535 |
$9,744,858.20 |
0.39% |
| The Goldman Sachs Group, Inc. |
GS |
38141G104 |
Financials |
9,357 |
$9,559,579.05 |
0.39% |
| Ciena Corporation |
CIEN |
171779309 |
Information Technology |
23,876 |
$9,537,745.72 |
0.38% |
| APA Corporation |
APA |
03743Q108 |
Energy |
211,947 |
$9,209,097.15 |
0.37% |
| Advanced Micro Devices, Inc. |
AMD |
007903107 |
Information Technology |
18,578 |
$8,665,150.76 |
0.35% |
| The Toronto-Dominion Bank |
TD |
891160509 |
Financials |
73,512 |
$8,700,145.20 |
0.35% |
| Advanced Energy Industries, Inc. |
AEIS |
007973100 |
Information Technology |
28,379 |
$8,352,223.49 |
0.34% |
| Digital Realty Trust, Inc. |
DLR |
253868103 |
Real Estate |
43,497 |
$8,366,647.95 |
0.34% |
| CME Group Inc. |
CME |
12572Q105 |
Financials |
28,845 |
$7,699,884.30 |
0.31% |
| Kinder Morgan, Inc. |
KMI |
49456B101 |
Energy |
239,585 |
$7,685,886.80 |
0.31% |
| The Boeing Company |
BA |
097023105 |
Industrials |
34,621 |
$7,692,786.20 |
0.31% |
| The TJX Companies, Inc. |
TJX |
872540109 |
Consumer Discretionary |
53,600 |
$7,745,200.00 |
0.31% |
| Yum! Brands, Inc. |
YUM |
988498101 |
Consumer Discretionary |
52,716 |
$7,692,845.88 |
0.31% |
| APi Group Corporation |
APG |
00187Y100 |
Industrials |
178,010 |
$7,567,205.10 |
0.30% |
| Allison Transmission Holdings, Inc. |
ALSN |
01973R101 |
Industrials |
57,887 |
$7,225,455.34 |
0.29% |
| Duke Energy Corporation |
DUK |
26441C204 |
Utilities |
57,745 |
$7,137,282.00 |
0.29% |
| ING Groep N.V. (ADR) |
ING |
456837103 |
Financials |
208,794 |
$7,243,063.86 |
0.29% |
| Encompass Health Corporation |
EHC |
29261A100 |
Health Care |
56,840 |
$6,919,701.60 |
0.28% |
| ITT Inc. |
ITT |
45073V108 |
Industrials |
32,045 |
$6,843,209.75 |
0.28% |
| East West Bancorp, Inc. |
EWBC |
27579R104 |
Financials |
50,657 |
$6,605,672.80 |
0.27% |
| Prologis, Inc. |
PLD |
74340W103 |
Real Estate |
48,052 |
$6,789,747.60 |
0.27% |
| Aflac Incorporated |
AFL |
001055102 |
Financials |
56,213 |
$6,549,376.63 |
0.26% |
| Entergy Corporation |
ETR |
29364G103 |
Utilities |
59,610 |
$6,435,495.60 |
0.26% |
| Taiwan Semiconductor Manufacturing Company Limited (ADR) |
TSM |
874039100 |
Information Technology |
15,690 |
$6,465,692.10 |
0.26% |
| UMB Financial Corporation |
UMBF |
902788108 |
Financials |
43,987 |
$6,426,500.70 |
0.26% |
| Everpure, Inc. (Class A) |
P |
74624M102 |
Information Technology |
55,073 |
$6,168,176.00 |
0.25% |
| Royal Bank of Canada |
RY |
780087102 |
Financials |
30,284 |
$6,287,564.08 |
0.25% |
| Southern Copper Corporation |
SCCO |
84265V105 |
Materials |
32,193 |
$6,267,333.24 |
0.25% |
| Wells Fargo & Company |
WFC |
949746101 |
Financials |
71,567 |
$6,150,467.98 |
0.25% |
| Cal-Maine Foods, Inc. |
CALM |
128030202 |
Consumer Staples |
73,289 |
$5,903,428.95 |
0.24% |
| Cboe Global Markets, Inc. |
CBOE |
12503M108 |
Financials |
21,130 |
$5,932,247.50 |
0.24% |
| DHT Holdings, Inc. |
DHT |
Y2065G121 |
Energy |
296,443 |
$5,925,895.57 |
0.24% |
| Unilever PLC (ADR) |
UL |
904767803 |
Consumer Staples |
93,223 |
$5,889,829.27 |
0.24% |
| Applied Materials, Inc. |
AMAT |
038222105 |
Information Technology |
11,715 |
$5,812,631.55 |
0.23% |
| AT&T Inc. |
T |
00206R102 |
Communication Services |
223,097 |
$5,604,196.64 |
0.23% |
| BlackRock, Inc. |
BLK |
09290D101 |
Financials |
4,875 |
$5,649,735.00 |
0.23% |
| Casey's General Stores, Inc. |
CASY |
147528103 |
Consumer Staples |
6,973 |
$5,830,473.95 |
0.23% |
| AerCap Holdings N.V. |
AER |
N00985106 |
Industrials |
36,343 |
$5,386,032.60 |
0.22% |
| Enbridge Inc. |
ENB |
29250N105 |
Energy |
106,780 |
$5,365,695.00 |
0.22% |
| Watts Water Technologies, Inc. |
WTS |
942749102 |
Industrials |
14,351 |
$5,377,606.72 |
0.22% |
| MYR Group Inc. |
MYRG |
55405W104 |
Industrials |
16,246 |
$5,296,033.54 |
0.21% |
| Urban Outfitters, Inc. |
URBN |
917047102 |
Consumer Discretionary |
71,411 |
$5,311,550.18 |
0.21% |
| Banco Santander S.A. (ADR) |
SAN |
05964H105 |
Financials |
355,023 |
$5,030,675.91 |
0.20% |
| Fluor Corporation |
FLR |
343412102 |
Industrials |
93,315 |
$5,044,608.90 |
0.20% |
| International Business Machines Corporation |
IBM |
459200101 |
Information Technology |
20,553 |
$4,874,349.48 |
0.20% |
| Nextpower Inc. (Class A) |
NXT |
65290E101 |
Industrials |
55,090 |
$5,074,890.80 |
0.20% |
| Sabra Health Care REIT, Inc. |
SBRA |
78573L106 |
Real Estate |
238,591 |
$4,900,659.14 |
0.20% |
| The Charles Schwab Corporation |
SCHW |
808513105 |
Financials |
44,910 |
$4,979,620.80 |
0.20% |
| Liberty Media Corp-Liberty Formula One (Class C) |
FWONK |
531229755 |
Communication Services |
44,039 |
$4,617,048.76 |
0.19% |
| Cloudflare, Inc. (Class A) |
NET |
18915M107 |
Information Technology |
15,257 |
$4,453,213.16 |
0.18% |
| Dave Inc. (Class A) |
DAVE |
23834J201 |
Financials |
12,927 |
$4,460,461.35 |
0.18% |
| Energy Transfer LP |
ET |
29273V100 |
Energy |
213,077 |
$4,512,970.86 |
0.18% |
| Wabtec Corporation |
WAB |
929740108 |
Industrials |
15,183 |
$4,436,928.09 |
0.18% |
| BankUnited, Inc. |
BKU |
06652K103 |
Financials |
90,808 |
$4,252,538.64 |
0.17% |
| Ionis Pharmaceuticals, Inc. |
IONS |
462222100 |
Health Care |
69,317 |
$4,214,473.60 |
0.17% |
| The Bank of Nova Scotia |
BNS |
064149107 |
Financials |
48,025 |
$4,211,312.25 |
0.17% |
| The Southern Company |
SO |
842587107 |
Utilities |
45,985 |
$4,239,357.15 |
0.17% |
| Anheuser-Busch InBev S.A./N.V. (ADR) |
BUD |
03524A108 |
Consumer Staples |
52,271 |
$4,083,933.23 |
0.16% |
| Leonardo DRS, Inc. |
DRS |
52661A108 |
Industrials |
95,195 |
$4,051,499.20 |
0.16% |
| NewMarket Corporation |
NEU |
651587107 |
Materials |
4,311 |
$4,012,765.02 |
0.16% |
| OPENLANE Inc. |
OPLN |
48238T109 |
Industrials |
115,474 |
$3,974,615.08 |
0.16% |
| America Movil, S.A.B. de C.V. (ADR) |
AMX |
02390A101 |
Communication Services |
152,858 |
$3,599,805.90 |
0.15% |
| Evergy, Inc. |
EVRG |
30034W106 |
Utilities |
44,237 |
$3,697,328.46 |
0.15% |
| Gold Fields Limited (ADR) |
GFI |
38059T106 |
Materials |
82,237 |
$3,606,092.45 |
0.15% |
| Canadian Imperial Bank of Commerce |
CM |
136069101 |
Financials |
27,367 |
$3,224,927.28 |
0.13% |
| NiSource Inc. |
NI |
65473P105 |
Utilities |
80,316 |
$3,343,555.08 |
0.13% |
| Performance Food Group Company |
PFGC |
71377A103 |
Consumer Staples |
31,145 |
$3,218,524.30 |
0.13% |
| Rio Tinto plc (ADR) |
RIO |
767204100 |
Materials |
32,282 |
$3,242,404.08 |
0.13% |
| Robinhood Markets, Inc. (Class A) |
HOOD |
770700102 |
Financials |
33,858 |
$3,242,580.66 |
0.13% |
| SolarEdge Technologies, Inc. |
SEDG |
83417M104 |
Information Technology |
96,742 |
$3,153,789.20 |
0.13% |
| The Gap, Inc. |
GAP |
364760108 |
Consumer Discretionary |
162,879 |
$3,273,867.90 |
0.13% |
| Bank of Montreal |
BMO |
063671101 |
Financials |
17,346 |
$3,048,212.58 |
0.12% |
| Nordson Corporation |
NDSN |
655663102 |
Industrials |
9,970 |
$3,089,902.40 |
0.12% |
| Simon Property Group, Inc. |
SPG |
828806109 |
Real Estate |
13,889 |
$3,099,747.02 |
0.12% |
| Vale S.A. (ADR) |
VALE |
91912E105 |
Materials |
215,756 |
$2,999,008.40 |
0.12% |
| Xcel Energy Inc. |
XEL |
98389B100 |
Utilities |
37,302 |
$2,962,151.82 |
0.12% |
| Deutsche Bank AG |
DB |
D18190898 |
Financials |
73,109 |
$2,780,335.27 |
0.11% |
| Kimco Realty Corporation |
KIM |
49446R109 |
Real Estate |
113,412 |
$2,758,179.84 |
0.11% |
| Morgan Stanley |
MS |
617446448 |
Financials |
13,212 |
$2,830,406.76 |
0.11% |
| Toll Brothers, Inc. |
TOL |
889478103 |
Consumer Discretionary |
18,956 |
$2,816,482.48 |
0.11% |
| TotalEnergies SE |
TTE |
F92124100 |
Energy |
29,637 |
$2,669,404.59 |
0.11% |
| American Electric Power Company, Inc. |
AEP |
025537101 |
Utilities |
18,837 |
$2,378,547.99 |
0.10% |
| NextEra Energy, Inc. |
NEE |
65339F101 |
Utilities |
29,557 |
$2,539,241.87 |
0.10% |
| WEC Energy Group, Inc. |
WEC |
92939U106 |
Utilities |
21,879 |
$2,392,249.86 |
0.10% |
| Alamos Gold Inc. |
AGI |
011532108 |
Materials |
65,640 |
$2,345,973.60 |
0.09% |
| Booking Holdings Inc. |
BKNG |
09857L108 |
Consumer Discretionary |
10,098 |
$2,150,874.00 |
0.09% |
| CVB Financial Corp. |
CVBF |
126600105 |
Financials |
99,239 |
$2,235,854.67 |
0.09% |
| Grand Canyon Education, Inc. |
LOPE |
38526M106 |
Consumer Discretionary |
15,880 |
$2,333,089.60 |
0.09% |
| TKO Group Holdings, Inc. (Class A) |
TKO |
87256C101 |
Communication Services |
11,492 |
$2,317,821.48 |
0.09% |
| Cirrus Logic, Inc. |
CRUS |
172755100 |
Information Technology |
16,775 |
$1,980,624.25 |
0.08% |
| OSI Systems, Inc. |
OSIS |
671044105 |
Information Technology |
8,616 |
$1,903,446.72 |
0.08% |
| Sempra |
SRE |
816851109 |
Utilities |
22,460 |
$1,922,351.40 |
0.08% |
| AMETEK, Inc. |
AME |
031100100 |
Industrials |
7,456 |
$1,813,448.32 |
0.07% |
| Edwards Lifesciences Corporation |
EW |
28176E108 |
Health Care |
18,121 |
$1,672,205.88 |
0.07% |
| Ferguson Enterprises Inc. |
FERG |
31488V107 |
Industrials |
7,114 |
$1,730,053.66 |
0.07% |
| NetEase, Inc. (ADR) |
NTES |
64110W102 |
Communication Services |
14,499 |
$1,844,997.75 |
0.07% |
| ARMOUR Residential REIT, Inc. |
ARR |
042315705 |
Financials |
85,278 |
$1,405,381.44 |
0.06% |
| National Health Investors, Inc. |
NHI |
63633D104 |
Real Estate |
20,594 |
$1,525,603.52 |
0.06% |
| Arch Capital Group Ltd. |
ACGL |
G0450A105 |
Financials |
11,942 |
$1,176,645.26 |
0.05% |
| The Hartford Insurance Group, Inc. |
HIG |
416515104 |
Financials |
9,410 |
$1,294,157.30 |
0.05% |
| VICI Properties Inc. |
VICI |
925652109 |
Real Estate |
34,466 |
$908,868.42 |
0.04% |
| Weyerhaeuser Company |
WY |
962166104 |
Real Estate |
16,235 |
$399,705.70 |
0.02% |
| Canadian Dollar |
$CAD |
|
Other |
156,795 |
$113,545.68 |
0.00% |
| 2026-09-18 S&P 500® Index - Price Return C 7,825 |
SPX 260918C07825000 |
|
N/A |
-325 |
($2,251,600.00) |
-0.09% |
| 2026-08-21 S&P 500® Index - Price Return C 7,625 |
SPX 260821C07625000 |
|
N/A |
-300 |
($2,649,000.00) |
-0.11% |
| 2026-09-18 S&P 500® Index - Price Return C 7,775 |
SPX 260918C07775000 |
|
N/A |
-340 |
($2,939,980.00) |
-0.12% |
| 2026-08-21 S&P 500® Index - Price Return C 7,600 |
SPX 260821C07600000 |
|
N/A |
-315 |
($3,455,550.00) |
-0.14% |
| 2026-10-16 S&P 500® Index - Price Return C 7,800 |
SPX 261016C07800000 |
|
N/A |
-325 |
($4,143,750.00) |
-0.17% |
| 2026-09-18 S&P 500® Index - Price Return C 7,650 |
SPX 260918C07650000 |
|
N/A |
-320 |
($4,944,000.00) |
-0.20% |
| 2026-09-18 S&P 500® Index - Price Return C 7,600 |
SPX 260918C07600000 |
|
N/A |
-320 |
($6,349,760.00) |
-0.26% |
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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