Sovereign Investment Advisors, LLC

RIA/Wealth

Sovereign Investment Advisors, LLC is a RIA/Wealth based in Phoenix, AZ led by Todd Coleman Early, reporting $3.0B in AUM as of Q3 2025 with 82% ETF concentration, 69% concentrated in top 10 holdings, and 15% allocation to IVV.

CIOTodd Coleman Early

Portfolio Value: $366.5M
Positions: 35
Top Holding: IVV at 15.04%
Last Reported: Q3 2025

Address3930 E Ray Road Suite 170, Phoenix, AZ, 85044, United States

Top Holdings

Largest long holdings in Sovereign Investment Advisors, LLC's portfolio (68.9% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Core S&P 500 ETF IVV	ETF ETF	$55.1M	15.04%	+$164.0K Bought	— 82.4K shares	Q4 2019 Held for 5y 11m
2 iShares MSCI USA Min Vol Factor USMV	ETF ETF	$42.8M	11.68%	-$6.1M Sold	— 450.1K shares	Q4 2019 Held for 5y 11m
3 Janus Henderson Short Duration Income VNLA	ETF ETF	$31.4M	8.58%	-$2.1M Sold	— 638.0K shares	Q4 2022 Held for 2y 11m
4 iShares Core MSCI EAFE ETF IEFA	ETF ETF	$24.7M	6.73%	—	— 282.5K shares	Q4 2019 Held for 5y 11m
5 BKGI BNY Mellon Global Infrastructure Income BKGI	ETF ETF	$24.5M	6.68%	—	— 628.5K shares	Q1 2023 Held for 2y 8m
6 MPLX MPLX	Oil & Gas Midstream Energy	$18.7M	5.10%	—	0.04% 374.0K shares	Q3 2020 Held for 5y 2m
7 Janus Henderson AAA CLO JAAA	ETF ETF	$18.4M	5.03%	+$90.0K Bought	— 363.1K shares	Q4 2022 Held for 2y 11m
8 SPDR S&P 500 ETF Trust SPY	ETF ETF	$14.4M	3.93%	+$8.7M Bought	— 21.6K shares	Q2 2025 Held for 5 months
9 Vanguard Total Bond Market BND	ETF ETF	$11.8M	3.21%	-$1.8M Sold	— 158.1K shares	Q4 2019 Held for 5y 11m
10 Western Midstream Partners WES	Oil & Gas Midstream Energy	$10.8M	2.94%	—	0.07% 274.5K shares	Q3 2020 Held for 5y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Sovereign Investment Advisors, LLC's latest filing

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Market Value

$366.5M

Prior: $363.6M

Q/Q Change

+0.8%

+$2.9M

Net Flows % of MV

-1.29%

Turnover Ratio

3.19%

New Purchases

0 stocks

Added To

12 stocks

+$9.3M

Sold Out Of

1 stocks

$456.5K

Reduced Holdings

7 stocks

-$13.6M

Increased Positions

Position	Shares Δ	Change
1 SPDR S&P 500 ETF Trust SPY	+150.76%	8.6K → 21.6K +$8.7M
2 Invesco QQQ Trust QQQ	+2.52%	715.0 → 733.0 +$10.8K
3 JNK SPDR Bloomberg High Yield Bond JNK	+1.67%	47.2K → 48.0K +$77.0K
4 Vanguard Mortgage-Backed Securities VMBS	+1.06%	167.0K → 168.8K +$83.4K
5 SPDR Bloomberg 1-3 Month T-Bill ETF BIL	+1.04%	48.7K → 49.2K +$46.5K

Decreased Positions

Position	Shares Δ	Change
1 EFAV iShares MSCI EAFE Min Vol Factor EFAV	Sold	5.4K → 0 −$456.5K
2 iShares iBoxx High Yield Corporate Bond HYG	-34.86%	9.7K → 6.3K −$274.8K
3 Invesco S&P 500 Low Volatility SPLV	-33.86%	73.8K → 48.8K −$1.8M
4 Vanguard Intermediate-Term Bond BIV	-15.1%	99.6K → 84.6K −$1.2M
5 Vanguard Total Bond Market BND	-13.47%	182.7K → 158.1K −$1.8M