Japan Science & Technology Agency Long-Term Concentrated

CIK: 0001948391 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 6, 2026

Total Value ($000): $5,442,819 (100.0% shares, 0.0% debt)

Holdings (12)

Increased Positions (3)

IEMG ISHARES INC 3.8%

Value ($000) $205,058 (+184.2%) Shares 3,050,554 (+178.7%) Est. Cost $66.75 Unrealized —

QQQ INVESCO QQQ TR 4.5%

Value ($000) $247,617 (+38.1%) Shares 403,081 (+35.0%) Est. Cost $603.98 Unrealized —

USHY ISHARES TR 9.8%

Value ($000) $535,493 (+10.6%) Shares 14,319,906 (+11.7%) Est. Cost $35.74 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IEMG	ISHARES INC	3,050,554 (+178.7%)	$205,058 (+184.2%)	3.8%	$66.75	—	CORE MSCI EMKT	46434G103
QQQ	INVESCO QQQ TR	403,081 (+35.0%)	$247,617 (+38.1%)	4.5%	$603.98	—	UNIT SER 1	46090E103
USHY	ISHARES TR	14,319,906 (+11.7%)	$535,493 (+10.6%)	9.8%	$35.74	—	BROAD USD HIGH	46435U853

Exited Positions (1)

USIG ISHARES TR 2.1%

Value ($000) $112,273 Shares 2,150,000 Est. Cost $50.66 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
USIG	ISHARES TR	2,150,000	$112,273	2.1%	$50.66	—	—	464288620

Decreased Positions (1)

LQD ISHARES TR 20.9%

Value ($000) $1,135,668 (-22.9%) Shares 10,306,450 (-22.0%) Est. Cost $105.43 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LQD	ISHARES TR	10,306,450 (-22.0%)	$1,135,668 (-22.9%)	20.9%	$105.43	—	IBOXX INV CP ETF	464287242

Unchanged Positions (8)

IVV ISHARES TR 14.7%

Value ($000) $801,928 Shares 1,170,800 Est. Cost $561.90 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 13.3%

Value ($000) $726,417 Shares 3,792,112 Est. Cost $173.23 Unrealized —

HYG ISHARES TR 15.4%

Value ($000) $837,796 Shares 10,390,626 Est. Cost $73.85 Unrealized —

VUG VANGUARD INDEX FDS 3.1%

Value ($000) $171,216 Shares 350,953 Est. Cost $479.61 Unrealized —

EMB ISHARES TR 4.4%

Value ($000) $240,700 Shares 2,500,000 Est. Cost $95.19 Unrealized —

JNK SPDR SERIES TRUST 5.2%

Value ($000) $281,909 Shares 2,900,000 Est. Cost $92.82 Unrealized —

SHYG ISHARES TR 3.5%

Value ($000) $190,772 Shares 4,450,000 Est. Cost $41.62 Unrealized —

VTV VANGUARD INDEX FDS 1.3%

Value ($000) $68,246 Shares 357,328 Est. Cost $174.57 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	1,170,800	$801,928	14.7%	$561.90	—	CORE S&P500 ETF	464287200
RSP	INVESCO EXCHANGE TRADED FD T	3,792,112	$726,417	13.3%	$173.23	—	S&P500 EQL WGT	46137V357
HYG	ISHARES TR	10,390,626	$837,796	15.4%	$73.85	—	IBOXX HI YD ETF	464288513
VUG	VANGUARD INDEX FDS	350,953	$171,216	3.1%	$479.61	—	GROWTH ETF	922908736
EMB	ISHARES TR	2,500,000	$240,700	4.4%	$95.19	—	JPMORGAN USD EMG	464288281
JNK	SPDR SERIES TRUST	2,900,000	$281,909	5.2%	$92.82	—	STATE STREET SPD	78468R622
SHYG	ISHARES TR	4,450,000	$190,772	3.5%	$41.62	—	0-5YR HI YL CP	46434V407
VTV	VANGUARD INDEX FDS	357,328	$68,246	1.3%	$174.57	—	VALUE ETF	922908744