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quarterly holdings since 2019, from its SEC Form N-PORT filings, TickerInside, https://tickerinside.com/api/v1/quarterly/pfm.json","answer":"PFM's largest position in its SEC filings has been Microsoft (MSFT) since 2019-10-31: 4.12% then and 4.06% in its report for 2026-07-31, across 26 quarterly reports."}