Sector breakdown

04
Financials 22.9%
Technology 6.7%
Health Care 4.9%
Industrials 3.9%
Communication Services 3.2%
Retail 2.6%
Consumer Discretionary 1.2%
Energy 1.2%
Consumer Staples 0.6%
Utilities 0.6%
Consumer products 0.4%
Materials 0.4%
Real Estate 0.1%
Other/Unmapped 51.3%

Full portfolio 289 positions

05
Type Streak 8Q trend
SRCE 1st Source Corporation - Common Stock $416,946,324 18.90% 5,110,889 $58,494,515 Down ×1
IWF iShares Trust $295,064,454 13.37% 2,376,294 $53,847,818 Up ×2
SPY SPY $184,032,505 8.34% 246,438 $30,629,656 Up ×3
IWD iShares Trust $153,299,156 6.95% 632,344 $20,420,134 Up ×2
EMXC iShares MSCI Emerging Markets ex China ETF $80,418,030 3.65% 786,100 $18,452,199 Down ×1
SDY SPDR SERIES TRUST $64,658,238 2.93% 424,880 $-1,018,848 Down ×6
EFA iShares Trust $57,457,897 2.60% 553,118 $8,771,971 Up ×2
VEA VANGUARD TAX-MANAGED FUNDS $43,916,505 1.99% 616,372 $5,425,892 Up ×2
AAPL Apple Inc. - Common Stock $38,574,003 1.75% 133,308 $4,666,390 Down ×6
IJH iShares Trust $36,957,897 1.68% 479,288 $7,328,636 Up ×6
LLY Eli Lilly and Company Common Stock $36,839,293 1.67% 30,714 $8,537,050 Down ×6
GOOGL Alphabet Inc. - Class A Common Stock $33,808,989 1.53% 94,605 $6,298,987 Down ×3
IJR iShares Trust $32,901,980 1.49% 221,846 $6,354,585 Up ×3
IWM iShares Trust $29,076,649 1.32% 96,777 $5,982,889 Up ×2
MSFT Microsoft Corporation - Common Stock $28,877,717 1.31% 77,416 $-185,810 Down ×1
MDY State Street SPDR S&P MIDCAP 400 ETF Trust $25,449,655 1.15% 36,184 $3,258,630 Up ×1
JPM JP Morgan Chase & Co. Common Stock $20,944,210 0.95% 63,985 $2,087,671 Down ×6
AMZN Amazon.com, Inc. - Common Stock $19,500,264 0.88% 81,817 $2,424,207 Down ×3
GOOG Alphabet Inc. - Class C Capital Stock $17,457,682 0.79% 49,409 $3,047,270 Down ×6
JNJ Johnson & Johnson Common Stock $16,246,461 0.74% 63,970 $206,308 Down ×6
PANW Palo Alto Networks, Inc. - Common Stock $15,931,091 0.72% 46,716 $8,305,951 Down ×1
NVDA NVIDIA Corporation - Common Stock $13,224,948 0.60% 66,095 $1,656,647 Down ×4
MRK Merck & Company, Inc. Common Stock (new) $12,005,884 0.54% 93,431 $661,815 Down ×4
AVGO Broadcom Inc. - Common Stock $10,630,263 0.48% 28,141 $2,004,529 Up ×1
COST Costco Wholesale Corporation - Common Stock $10,530,585 0.48% 11,257 $-788,859 Down ×3
SPYG SPDR SERIES TRUST $10,145,087 0.46% 85,260 $1,562,982 Down ×1
PATK Patrick Industries, Inc. - Common Stock $9,485,257 0.43% 105,650 $-1,693,939 Up ×1
AVLV AMERICAN CENTURY ETF TRUST $9,227,351 0.42% 101,166 Up ×1
AXP American Express Company Common Stock $9,062,056 0.41% 26,791 $914,153 Down ×6
CSCO Cisco Systems, Inc. - Common Stock $8,984,868 0.41% 76,493 $3,048,923 Down ×6
TJX TJX Companies, Inc. (The) Common Stock $8,535,359 0.39% 56,339 $-457,668 Up ×1
PEP PepsiCo, Inc. - Common Stock $8,533,449 0.39% 63,024 $-1,356,816 Down ×6
XOM Exxon Mobil Corporation Common Stock $8,287,283 0.38% 60,615 $-1,928,624 Up ×5
CAT Caterpillar, Inc. Common Stock $8,270,014 0.37% 7,766 $1,627,493 Down ×3
TMO Thermo Fisher Scientific Inc Common Stock $8,088,441 0.37% 16,133 $269,182 Up ×1
NSC Norfolk Southern Corporation Common Stock $7,987,125 0.36% 25,389 $695,029 Down ×6
EFV iShares Trust $7,760,027 0.35% 101,372 $-551,336 Down ×3
MCD McDonald's Corporation Common Stock $7,587,601 0.34% 28,070 $-1,175,745 Down ×6
PG Procter & Gamble Company (The) Common Stock $7,538,616 0.34% 51,409 $-99,227 Down ×1
IBM International Business Machines Corporation Common Stock $7,402,010 0.34% 26,322 $971,888 Down ×6
ALL Allstate Corporation (The) Common Stock $7,269,781 0.33% 30,553 $730,485 Down ×6
WMT Walmart Inc. - Common Stock $7,256,455 0.33% 64,069 $-690,381 Up ×1
HD Home Depot, Inc. (The) Common Stock $7,158,346 0.32% 20,297 $163,843 Down ×4
EEM iShares, Inc. $6,845,720 0.31% 100,069 $1,760,062 Up ×2
CVX Chevron Corporation Common Stock $6,762,843 0.31% 40,799 $-1,770,954 Down ×4
ABBV AbbVie Inc. Common Stock $6,634,740 0.30% 26,366 $851,681 Down ×2
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $6,578,628 0.30% 13,147 $316,442 Up ×1
GLD SPDR Gold Shares $6,308,508 0.29% 17,125 $-1,083,874 Down ×1
ADP Automatic Data Processing, Inc. - Common Stock $6,048,890 0.27% 27,010 $249,929 Down ×6
ORCL Oracle Corporation Common Stock $5,897,465 0.27% 40,242 $-130,956 Down ×4
BAC Bank of America Corporation Common Stock $5,730,137 0.26% 100,564 $833,297 Up ×2
VWO VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $5,629,543 0.26% 94,313 $840,875 Up ×2
MA Mastercard Incorporated Common Stock $5,416,425 0.25% 10,546 $115,532 Down ×1
RTX RTX Corporation Common Stock $5,011,528 0.23% 26,414 $-6,573 Up ×2
FVD First Trust Exchange-Traded Fund $4,973,718 0.23% 103,232 $-1,747,151 Down ×5
PWR Quanta Services, Inc. Common Stock $4,890,512 0.22% 6,792 $1,188,470 Up ×6
ISRG Intuitive Surgical, Inc. - Common Stock $4,581,671 0.21% 11,521 $-636,275 Up ×1
TRV The Travelers Companies, Inc. Common Stock $4,477,088 0.20% 13,562 $524,824 Up ×1
COP ConocoPhillips Common Stock $4,400,211 0.20% 42,326 $-1,241,469 Down ×1
V Visa Inc. $4,284,508 0.19% 12,488 $510,135
GE GE Aerospace Common Stock $4,269,492 0.19% 11,424 $973,503 Down ×1
QCOM QUALCOMM Incorporated - Common Stock $4,151,122 0.19% 22,464 $1,214,165 Down ×6
DIS Walt Disney Company (The) Common Stock $4,042,115 0.18% 41,996 $-158,511 Down ×4
META Meta Platforms, Inc. - Class A Common Stock $3,911,486 0.18% 6,944 $268,162 Up ×2
DE Deere & Company Common Stock $3,766,017 0.17% 5,937 $420,578 Down ×3
MMM 3M Company Common Stock $3,763,922 0.17% 23,247 $273,173 Down ×1
DNOV First Trust Exchange-Traded Fund VIII $3,761,644 0.17% 73,255 $-375,514 Down ×1
BX Blackstone Inc. Common Stock $3,703,898 0.17% 31,477 $104,711 Up ×1
AEP American Electric Power Company, Inc. - Common Stock $3,637,094 0.16% 26,585 $135,292 Down ×1
MCHP Microchip Technology Incorporated - Common Stock $3,632,222 0.16% 39,827 $1,005,632 Down ×6
GVI iShares Trust $3,566,384 0.16% 33,615 $-1,051,793 Down ×3
MRVL Marvell Technology, Inc. - Common Stock $3,561,573 0.16% 11,956 $2,367,921 Down ×3
QQQ Invesco QQQ Trust, Series 1 $3,501,582 0.16% 4,755 $687,829 Down ×2
DHR Danaher Corporation Common Stock $3,491,118 0.16% 18,328 $-51,558 Down ×6
AMD Advanced Micro Devices, Inc. - Common Stock $3,452,929 0.16% 5,944 $2,222,991 Down ×3
WM Waste Management, Inc. Common Stock $3,436,809 0.16% 15,420 $-92,765 Up ×2
XLRE XLRE $3,411,532 0.15% 77,482 $326,784 Up ×1
HCA HCA Healthcare, Inc. Common Stock $3,381,906 0.15% 8,674 $-510,493 Up ×2
SBUX Starbucks Corporation - Common Stock $3,335,891 0.15% 32,644 $403,252 Down ×3
LMT Lockheed Martin Corporation Common Stock $3,262,072 0.15% 6,403 $-437,400 Up ×1
MET MetLife, Inc. Common Stock $3,250,547 0.15% 38,418 $469,412 Down ×6
ABT Abbott Laboratories Common Stock $3,222,541 0.15% 35,514 $-596,064 Down ×3
AGG iShares Trust $3,204,774 0.15% 32,378 $-1,964,215 Down ×1
IVW iShares Trust $3,139,672 0.14% 22,829 $1,671,052 Up ×2
MS Morgan Stanley Common Stock $3,106,125 0.14% 14,859 $667,691 Up ×2
GEV GE Vernova Inc. Common Stock $3,024,090 0.14% 2,574 $755,423 Down ×1
NEE NextEra Energy, Inc. Common Stock $2,988,744 0.14% 34,052 $-127,194 Up ×2
GLW Corning Incorporated Common Stock $2,951,494 0.13% 11,555 $1,386,615 Up ×2
LKFN Lakeland Financial Corporation - Common Stock $2,943,797 0.13% 47,696 $-409,146 Down ×1
SXI Standex International Corporation Common Stock $2,906,426 0.13% 8,126 $835,434
SPYV SPDR SERIES TRUST $2,749,411 0.12% 45,228 $168,005 Down ×3
INTC Intel Corporation - Common Stock $2,671,960 0.12% 19,136 $1,821,046 Down ×6
GD General Dynamics Corporation Common Stock $2,605,435 0.12% 7,355 $88,946 Up ×1
IWR iShares Trust $2,548,392 0.12% 23,100 $339,618 Up ×2
DMAY First Trust Exchange-Traded Fund VIII $2,533,030 0.11% 53,757 Up ×1
IBB iShares Trust $2,531,619 0.11% 13,311 $199,462 Down ×2
YUM Yum! Brands, Inc. $2,493,976 0.11% 15,601 $38,636 Down ×4
ESGU iShares ESG Aware MSCI USA ETF $2,383,035 0.11% 14,560 $336,688 Up ×1
VOO VANGUARD INDEX FUNDS $2,228,699 0.10% 3,245 $264,552 Down ×1
IVV iShares Trust $2,167,288 0.10% 2,894 $-87,593 Down ×4

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
SPY $184,032,505 8.34% up ×3
IJH $36,957,897 1.68% up ×6
IJR $32,901,980 1.49% up ×3
XOM $8,287,283 0.38% up ×5
PWR $4,890,512 0.22% up ×6
ETN $1,932,028 0.09% up ×6
BA $1,800,814 0.08% up ×6
KO $1,681,476 0.08% up ×4
XLK $1,369,077 0.06% up ×3
VLO $1,084,212 0.05% up ×4
XLV $358,730 0.02% up ×5

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
AVLV $9,227,351 101,166 0.42%
DMAY $2,533,030 53,757 0.11%
IGF $1,227,171 18,426 0.06%
GOVT $832,062 36,526 0.04%
DAPR $774,880 18,955 0.04%
DJUN $475,700 9,653 0.02%
COF $367,536 1,832 0.02%
DVN $336,262 8,138 0.02%
DELL $269,663 625 0.01%
AZN $248,592 1,311 0.01%
LRCX $237,465 548 0.01%
UMBF $232,413 1,628 0.01%
SMH $229,562 350 0.01%
VGT $220,873 1,848 0.01%
DLNV $218,160 6,630 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SRCE Trimmed -68K +$58.5M
IWF Bought more +1.8M +$53.8M
SPY Bought more +11K +$30.6M
IWD Bought more +10K +$20.4M
EMXC Trimmed -2K +$18.5M
EFA Bought more +52K +$8.8M
LLY Trimmed -57 +$8.5M
PANW Trimmed -846 +$8.3M
IJH Bought more +41K +$7.3M
IJR Bought more +8K +$6.4M

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
HON June 30, 2026 89,215 $20,165,266 -4.4%
DJUN Dec. 31, 2025 90,357 $4,201,691
DAUG June 30, 2025 57,820 $2,243,266
FMAR Sept. 30, 2025 33,219 $1,489,540
DSEP June 30, 2026 29,472 $1,295,636
JMST June 30, 2026 20,000 $1,019,600
SUB June 30, 2026 9,353 $996,095
DJUL March 31, 2026 19,735 $938,794
DOCT Sept. 30, 2025 22,145 $909,455
FISV Dec. 31, 2025 6,614 $852,743 -34.0%
DJAN Sept. 30, 2025 20,533 $828,225
DD June 30, 2026 17,451 $799,256 -4.2%
BNDX June 30, 2026 14,850 $713,543
ADBE June 30, 2026 2,374 $577,072 15.9%
DFEB Dec. 31, 2025 11,496 $534,984
MU Dec. 31, 2025 2,818 $471,508 276.6%
DPST Sept. 30, 2025 5,000 $433,950
DAPR June 30, 2025 11,652 $433,746
ACN March 31, 2026 1,398 $375,083 0.3%
XLP June 30, 2026 4,081 $334,560 No longer tracked
DMAR Sept. 30, 2025 8,104 $320,675
SHOP March 31, 2026 1,968 $316,789 27.6%
FJAN June 30, 2026 6,278 $316,474
DFAU March 31, 2026 6,720 $314,496
CTSH June 30, 2026 5,078 $311,535 51.1%
LULU Sept. 30, 2025 1,305 $310,042 -46.9%
IUSB Sept. 30, 2025 6,630 $306,505
SRE June 30, 2026 3,120 $303,170 -15.5%
GRAL June 30, 2026 5,497 $284,085 109.8%
ITOT June 30, 2025 2,243 $273,668 24.6%
GEHC June 30, 2026 3,455 $245,927 0.4%
AZN March 31, 2026 2,622 $241,040 -20.4%
BAX Sept. 30, 2025 7,911 $239,545 3.2%
IBIT June 30, 2026 5,750 $220,915
AIG June 30, 2026 2,933 $220,709 0.5%
THO March 31, 2026 2,148 $220,535 -12.9%
COF March 31, 2026 903 $218,851 6.7%
QUAL Sept. 30, 2025 1,187 $217,007
SLF Sept. 30, 2025 3,253 $216,162 30.9%
BDX Sept. 30, 2025 1,244 $214,279 20.2%
TGT June 30, 2025 2,051 $214,042 58.1%
EL Sept. 30, 2025 2,583 $208,706 4.4%
HES June 30, 2025 1,297 $207,170 No longer tracked
IAU June 30, 2026 2,344 $206,647 3.2%
NOW Sept. 30, 2025 200 $205,616 -27.0%
VLTO June 30, 2026 2,298 $203,190 6.8%
COR June 30, 2026 645 $202,620 9.2%
VGK March 31, 2026 2,394 $200,162
DFLI Dec. 31, 2025 17,329 $10,307 -72.3%