Sector breakdown

04
Technology 8.6%
Communication Services 4.9%
Financials 3.2%
Retail 2.8%
Health Care 2.2%
Industrials 2.0%
Consumer Discretionary 0.7%
Energy 0.5%
Utilities 0.3%
Real Estate 0.3%
Consumer Staples 0.3%
Consumer products 0.3%
Materials 0.1%
Other/Unmapped 73.9%

Full portfolio 222 positions

05
Type Streak 8Q trend
FBND Fidelity Merrimack Street Trust $36,013,337 6.04% 791,676 $1,910,147 Up ×6
DFAC Dimensional ETF Trust $30,828,825 5.17% 694,969 $3,856,721 Up ×1
JMUB JPMorgan Municipal ETF $29,509,071 4.95% 582,550 $4,941,585 Up ×4
IDEV iShares Core MSCI International Developed Markets ETF $23,521,334 3.95% 264,255 $4,715,178 Up ×6
AVUV AMERICAN CENTURY ETF TRUST $20,962,687 3.52% 168,024 $4,080,158 Up ×1
VTI Vanguard Morningstar Total Stock Market ETF $15,349,869 2.58% 41,482 $3,241,580 Up ×4
AVEM AMERICAN CENTURY ETF TRUST $15,346,914 2.58% 159,052 $4,001,959 Up ×6
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF $15,092,592 2.53% 287,972 $979,840 Up ×6
TLH iShares 10-20 Year Treasury Bond ETF $14,580,554 2.45% 145,297 $7,684,658 Up ×6
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund $14,263,726 2.39% 537,848 $376,829 Up ×6
AAPL Apple Inc. - Common Stock $13,457,801 2.26% 46,509 $2,380,755 Up ×1
DFIV Dimensional ETF Trust $11,895,435 2.00% 220,204 $1,571,693 Up ×1
STGW Stagwell Inc. - Class A Common Stock $11,565,590 1.94% 1,556,607 $1,771,060 Down ×4
BNDX Vanguard Total International Bond ETF $11,486,918 1.93% 237,186 $639,390 Up ×2
MLN VanEck ETF Trust $10,242,382 1.72% 576,062 $-189,092 Down ×2
NVDA NVIDIA Corporation - Common Stock $9,939,689 1.67% 49,676 $2,612,241 Up ×3
AVDE AMERICAN CENTURY ETF TRUST $9,456,895 1.59% 106,019 $430,598 Down ×1
DCOR Dimensional ETF Trust $9,295,466 1.56% 113,387 $1,070,345 Down ×2
IAU iShares Gold Trust Shares $8,263,663 1.39% 109,438 $-490,096 Up ×1
CIBR First Trust NASDAQ Cybersecurity ETF $7,015,039 1.18% 78,075 $2,424,230 Up ×1
AMZN Amazon.com, Inc. - Common Stock $6,904,948 1.16% 28,971 $1,111,918 Up ×1
AIRR First Trust RBA American Industrial Renaissance ETF $6,850,249 1.15% 51,409 $1,515,527 Up ×3
SDCI USCF ETF Trust $6,228,226 1.05% 235,561 $251,586 Up ×4
MSFT Microsoft Corporation - Common Stock $6,178,859 1.04% 16,564 $619,064 Up ×1
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund $6,047,987 1.01% 31,541 $1,251,003 Up ×1
RDVY First Trust Rising Dividend Achievers ETF $5,824,812 0.98% 71,858 $347,128 Down ×5
FTGC First Trust Global Tactical Commodity Strategy Fund $5,764,111 0.97% 213,091 $-174,220 Up ×1
EFA iShares Trust $5,757,875 0.97% 55,428 $360,892 Down ×6
AVLV AMERICAN CENTURY ETF TRUST $5,552,525 0.93% 60,876 $1,020,624 Up ×6
SPY SPY $5,504,653 0.92% 7,371 $684,149 Down ×2
CVS CVS Health Corporation Common Stock $4,996,520 0.84% 48,299 $1,849,081 Up ×1
FTCS First Trust Capital Strength ETF $4,751,971 0.80% 50,596 $-187,757 Down ×2
MINT PIMCO ETF Trust $4,217,991 0.71% 41,841 $-912,286 Down ×1
AVGO Broadcom Inc. - Common Stock $4,167,053 0.70% 11,031 $736,066 Down ×3
GOOGL Alphabet Inc. - Class A Common Stock $4,136,053 0.69% 11,574 $749,829 Down ×1
DFSV Dimensional ETF Trust $4,110,309 0.69% 105,963 $354,482 Down ×4
COST Costco Wholesale Corporation - Common Stock $4,001,131 0.67% 4,277 $-81,974 Up ×1
VTEL Vanguard Long-Term Tax-Exempt Bond ETF $3,972,564 0.67% 37,917 $2,848,132 Up ×1
ENS EnerSys Common Stock $3,945,245 0.66% 16,873 $1,273,084 Up ×1
SMMU PIMCO ETF Trust $3,899,156 0.65% 77,211 $812,322 Up ×1
GLD SPDR Gold Shares $3,875,358 0.65% 10,520 $-732,618 Down ×6
CSRE Cohen & Steers ETF Trust $3,858,119 0.65% 135,945 $1,069,101 Up ×1
SYF Synchrony Financial Common Stock $3,666,066 0.62% 48,206 $854,323 Up ×1
ROKU Roku, Inc. - Class A Common Stock $3,465,933 0.58% 25,090 $1,282,860 Up ×1
IROC Invesco Actively Managed Exchange-Traded Fund Trust $3,465,362 0.58% 67,582 $763,755 Up ×6
SHYL DBX ETF Trust $3,395,696 0.57% 76,428 $42,742 Up ×2
FMB First Trust Managed Municipal ETF $3,330,084 0.56% 64,829 $730,618 Up ×3
KLAC KLA Corporation - Common Stock $3,275,464 0.55% 10,856 $1,562,884 Up ×1
XLB XLB $3,118,217 0.52% 61,346 $359,823 Up ×1
ROBT First Trust Nasdaq Artificial Intelligence and Robotics ETF $3,099,757 0.52% 55,097 Up ×1
IXC iShares Global Energy ETF $3,072,345 0.52% 62,535 $-207,508 Up ×2
SPDW State Street SPDR Portfolio Developed World ex-US ETF $3,051,165 0.51% 60,551 $282,584 Down ×4
BILZ PIMCO ETF Trust $2,820,489 0.47% 27,945 $-2,536,878 Down ×1
IEF iShares 7-10 Year Treasury Bond ETF $2,773,612 0.47% 29,329 $460,005 Up ×4
FTAG First Trust Indxx Global Agriculture ETF $2,754,821 0.46% 95,309 $277,718 Up ×1
MU Micron Technology, Inc. - Common Stock $2,622,674 0.44% 2,272
IJR iShares Trust $2,566,356 0.43% 17,304 $407,091 Down ×1
IWR iShares Russell Mid-Cap ETF $2,527,872 0.42% 22,914 $267,274 Down ×6
IEMG iShares, Inc. $2,446,182 0.41% 29,529 $384,790 Down ×1
FXH First Trust Health Care AlphaDEX $2,437,149 0.41% 19,911
FHI Federated Hermes, Inc. Common Stock $2,417,145 0.41% 43,773 $273,280 Up ×1
NTRS Northern Trust Corporation - Common Stock $2,410,292 0.40% 13,865 Up ×1
DELL Dell Technologies Inc. Class C Common Stock $2,294,073 0.38% 5,317 $700,207 Down ×1
CSCO Cisco Systems, Inc. - Common Stock $2,251,437 0.38% 19,168 $710,543 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $2,097,666 0.35% 3,611 $1,755,904 Up ×4
JPM JP Morgan Chase & Co. Common Stock $2,094,963 0.35% 6,400 $71,204 Down ×3
CRUS Cirrus Logic, Inc. - Common Stock $1,990,451 0.33% 13,401 $330,358 Up ×1
DECK Deckers Outdoor Corporation Common Stock $1,983,715 0.33% 19,979 $266,471 Up ×1
ITOT iShares Trust $1,977,002 0.33% 12,035 $179,805 Down ×4
NFLX Netflix, Inc. - Common Stock $1,917,733 0.32% 26,859 $-422,750 Up ×3
AWK American Water Works Company, Inc. Common Stock $1,689,565 0.28% 12,841 $80,286 Up ×1
FTGS First Trust Growth Strength ETF $1,683,711 0.28% 45,503 $140,152 Up ×1
UNP Union Pacific Corporation Common Stock $1,682,872 0.28% 6,187 $371,766 Up ×1
VBIL Vanguard 0-3 Month Treasury Bill ETF $1,679,793 0.28% 22,196 $-1,052,458 Down ×1
EHC Encompass Health Corporation Common Stock $1,659,936 0.28% 16,422 $298,365 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $1,622,367 0.27% 4,592 $241,678 Down ×2
CVX Chevron Corporation Common Stock $1,598,131 0.27% 9,641 $235,955 Up ×1
EQIX Equinix, Inc. - Common Stock $1,590,687 0.27% 1,526 $254,620 Up ×1
FLS Flowserve Corporation Common Stock $1,545,717 0.26% 20,843 $238,121 Up ×1
IVV iShares Trust $1,524,740 0.26% 2,036 $194,804
NVST Envista Holdings Corporation Common Stock $1,428,671 0.24% 54,219 $245,719 Up ×1
ANET Arista Networks, Inc. Common Stock $1,416,459 0.24% 8,338 $392,719
UBER Uber Technologies, Inc. Common Stock $1,316,198 0.22% 18,240 $187,113 Up ×3
MUB iShares Trust $1,231,280 0.21% 11,441 $-82,432 Down ×4
V Visa Inc. $1,230,750 0.21% 3,587 $102,887 Down ×1
WMT Walmart Inc. - Common Stock $1,209,618 0.20% 10,680 $-127,759 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $1,181,219 0.20% 2,097 $-66,597 Down ×1
AOA iShares Trust $1,156,184 0.19% 11,846 $123,948 Up ×6
EBAY eBay Inc. - Common Stock $1,118,341 0.19% 10,008 $168,709 Down ×4
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,112,367 0.19% 2,223 $89,275 Up ×2
VOO Vanguard S&P 500 ETF $1,096,303 0.18% 1,596 $270,431 Up ×1
VIG Vanguard Div Appreciation ETF $1,076,621 0.18% 4,550 $589,295 Up ×1
XHLF BondBloxx ETF Trust $1,061,431 0.18% 21,102 $704,038 Up ×2
ADM Archer-Daniels-Midland Company Common Stock $1,051,646 0.18% 13,765 Up ×1
QQQ Invesco QQQ Trust, Series 1 $1,041,270 0.17% 1,414 $169,728 Down ×1
LLY Eli Lilly and Company Common Stock $1,003,923 0.17% 837 $234,076
VTEB Vanguard Tax-Exempt Bond ETF $997,741 0.17% 19,726 $-5,098 Down ×2
AVSU AMERICAN CENTURY ETF TRUST $987,087 0.17% 11,151 $143,159 Down ×2
IWD iShares Russell 1000 Value ETF $931,416 0.16% 3,842 $110,496
IJH iShares Trust $913,522 0.15% 11,847 $113,494

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
FBND $36,013,337 6.04% up ×6
JMUB $29,509,071 4.95% up ×4
IDEV $23,521,334 3.95% up ×6
VTI $15,349,869 2.58% up ×4
AVEM $15,346,914 2.58% up ×6
IGSB $15,092,592 2.53% up ×6
TLH $14,580,554 2.45% up ×6
PYLD $14,263,726 2.39% up ×6
NVDA $9,939,689 1.67% up ×3
AIRR $6,850,249 1.15% up ×3
SDCI $6,228,226 1.05% up ×4
AVLV $5,552,525 0.93% up ×6
IROC $3,465,362 0.58% up ×6
FMB $3,330,084 0.56% up ×3
IEF $2,773,612 0.47% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ROBT $3,099,757 55,097 0.52%
MU $2,622,674 2,272 0.44%
FXH $2,437,149 19,911 0.41%
NTRS $2,410,292 13,865 0.40%
ADM $1,051,646 13,765 0.18%
BNDW $500,269 7,300 0.08%
CI $411,067 1,491 0.07%
CRWD $296,861 389 0.05%
CAT $283,082 266 0.05%
MPC $268,198 1,049 0.05%
XLK $263,349 1,382 0.04%
AFLG $248,536 5,724 0.04%
INTC $230,669 1,652 0.04%
TER $226,437 468 0.04%
RSPT $216,785 3,361 0.04%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
TLH Bought more +77K +$7.7M
JMUB Bought more +91K +$4.9M
IDEV Bought more +39K +$4.7M
AVUV Bought more +15K +$4.1M
AVEM Bought more +18K +$4.0M
DFAC Bought more +885 +$3.9M
VTI Bought more +4K +$3.2M
VTEL Bought more +27K +$2.8M
NVDA Bought more +8K +$2.6M
BILZ Trimmed -25K -$2.5M

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
UUP June 30, 2026 167,696 $4,658,595
HQY Sept. 30, 2025 25,845 $2,707,522 -4.1%
XLV Sept. 30, 2025 17,486 $2,356,938 19.4%
UNH June 30, 2025 4,481 $2,346,674 18.7%
TROW June 30, 2025 25,427 $2,336,014 7.0%
SNPS Dec. 31, 2025 4,484 $2,212,361 6.8%
DBX March 31, 2026 74,727 $2,077,411 51.4%
DPZ June 30, 2026 5,771 $2,070,449 -0.1%
PODD March 31, 2026 5,466 $1,553,656 -36.3%
OMC June 30, 2025 17,233 $1,428,788 3.9%
BNDW March 31, 2026 20,290 $1,394,739
MKSI June 30, 2025 17,364 $1,391,725 180.1%
NXPI Dec. 31, 2025 5,423 $1,235,058 10.5%
NTAP June 30, 2025 13,879 $1,219,131 107.4%
AMT Dec. 31, 2025 5,782 $1,111,920 -8.1%
WDAY March 31, 2026 4,876 $1,047,267 43.2%
SHV June 30, 2026 8,287 $914,802
VZ March 31, 2026 16,237 $661,317 -8.7%
VOOG March 31, 2026 1,480 $657,993 28.0%
ZTS June 30, 2026 5,478 $647,566 -2.3%
XLK March 31, 2026 4,162 $599,203 51.1%
CL Dec. 31, 2025 7,299 $583,482 8.4%
CLX Sept. 30, 2025 4,680 $561,928 -34.0%
FELC June 30, 2025 16,975 $529,450
MDT Sept. 30, 2025 5,818 $507,155 -8.7%
UPS June 30, 2025 4,279 $470,647 -8.3%
CEG Sept. 30, 2025 1,312 $423,461 -19.8%
XLC March 31, 2026 3,515 $413,786 0.4%
PTRB June 30, 2025 8,911 $371,943
FNX June 30, 2025 3,248 $353,967
KRE March 31, 2026 5,184 $335,975
GAP June 30, 2025 15,850 $326,669 5.4%
XLI Dec. 31, 2025 2,065 $318,485 9.6%
IGV March 31, 2026 2,920 $308,615 37.2%
VHT Sept. 30, 2025 1,217 $302,230
AMCR Dec. 31, 2025 36,822 $301,204 -1.2%
TXT Sept. 30, 2025 3,661 $293,942 -10.1%
XLRE Sept. 30, 2025 6,887 $285,260 No longer tracked
SMTH June 30, 2025 10,818 $280,024
GE Dec. 31, 2025 924 $277,860 0.1%
IYT March 31, 2026 3,639 $271,142 7.1%
FICO March 31, 2026 155 $262,046 -37.4%
IYR Dec. 31, 2025 2,627 $255,029 0.5%
MS March 31, 2026 1,421 $252,270 14.2%
EAGG June 30, 2025 5,267 $250,077
BILS Dec. 31, 2025 2,500 $248,800
PGR June 30, 2025 870 $246,219 -21.7%
FDN March 31, 2026 911 $245,223
SYK March 31, 2026 696 $244,585 -13.4%
AFLG June 30, 2025 7,193 $242,332
C June 30, 2025 3,369 $239,165 51.3%
IEFA Sept. 30, 2025 2,801 $233,827
FDX June 30, 2026 650 $231,662 -8.3%
IUSG March 31, 2026 1,362 $228,734
GILD Sept. 30, 2025 2,034 $225,510 29.7%
KO Sept. 30, 2025 3,169 $224,223 28.8%
INTU June 30, 2026 514 $222,243 10.2%
RSPD June 30, 2025 4,450 $222,055 -1.7%
VNQ March 31, 2026 2,506 $221,756
AFLG March 31, 2026 5,586 $218,413
CEF June 30, 2026 4,506 $215,026
XLY Dec. 31, 2025 891 $213,519 No longer tracked
GSLC March 31, 2026 1,611 $213,248
LII Sept. 30, 2025 372 $213,245 -32.6%
COR Sept. 30, 2025 703 $210,795 -0.8%
MU March 31, 2026 723 $206,373 215.5%
CRM Sept. 30, 2025 755 $205,906 -2.3%
APP Dec. 31, 2025 286 $205,502 -58.1%
EZM March 31, 2026 3,076 $205,477
HON March 31, 2026 1,049 $204,649 -5.1%
MDYV June 30, 2025 2,637 $203,181 13.7%
FXH Dec. 31, 2025 1,851 $203,010
IDXX March 31, 2026 300 $202,959 -7.4%
FXI March 31, 2026 5,296 $202,784 -6.3%
CPRT Dec. 31, 2025 4,504 $202,545 -31.0%
FDX June 30, 2025 828 $201,736 26.3%
MINO March 31, 2026 4,438 $201,130
AMGN June 30, 2025 642 $200,100 43.5%