Sector breakdown

04
Technology 1.3%
Financials 1.1%
Communication Services 0.9%
Energy 0.8%
Healthcare 0.2%
Retail 0.2%
Industrials 0.1%
Consumer Discretionary 0.1%
Consumer Staples 0.1%
Other/Unmapped 95.2%

Full portfolio 69 positions

05
Type Streak 8Q trend
VTI Vanguard Morningstar Total Stock Market ETF $78,758,000 24.54% 210,448 $78,680,602 Up ×1
VYM Vanguard High Dividend Yield ETF $32,489,000 10.12% 209,334 $32,455,380 Down ×1
SRLN SSGA Active Trust $32,076,000 10.00% 794,167 $32,052,167 Up ×5
SCHD SCHWAB STRATEGIC TRUST $26,226,000 8.17% 806,214 $26,202,539 Up ×6
VOO Vanguard S&P 500 ETF $22,802,000 7.11% 32,534 $22,777,972 Down ×1
SPHY SPDR SERIES TRUST $18,174,000 5.66% 804,501 $18,155,142
VEU Vanguard FTSE All World Ex US ETF $11,309,000 3.52% 136,304 $11,298,680 Up ×5
IVV iShares Core S&P 500 ETF $11,178,000 3.48% 14,595 $11,167,070
JAAA Janus Detroit Street Trust $9,220,000 2.87% 182,683 $9,213,551 Up ×2
SCHB SCHWAB STRATEGIC TRUST $8,300,000 2.59% 283,189 $8,292,311 Up ×4
FTSL First Trust Senior Loan Fund $6,181,000 1.93% 138,670 $6,174,795
VEA VANGUARD TAX-MANAGED FUNDS $5,574,000 1.74% 78,938 $5,568,376
QQQ Invesco QQQ Trust, Series 1 $4,025,000 1.25% 5,441 $4,020,993
VUG Vanguard Morningstar Growth ETF $3,812,000 1.19% 42,306 $3,807,419 Down ×1
SPY SPY $3,532,000 1.10% 4,631 $3,528,542
SPYM State Street SPDR Portfolio S&P 500 ETF $3,243,000 1.01% 36,130 $3,239,825
VCSH Vanguard Short-Term Corporate Bond ETF $2,972,000 0.93% 38,470 $2,968,960
VCLT Vanguard Long-Term Corporate Bond ETF $2,875,000 0.90% 41,970 $2,873,021 Up ×3
VWO Vanguard FTSE Emerging Markets ETF $2,622,000 0.82% 44,203 $2,619,361
GOOGL Alphabet Inc. - Class A Common Stock $2,405,000 0.75% 6,990 $2,402,199 Down ×2
RSP Invesco Exchange-Traded Fund Trust $2,386,000 0.74% 11,468 $2,383,560
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $2,241,000 0.70% 3 $2,238,753
VOT Vanguard Morningstar Mid-Cap Growth ETF $2,141,000 0.67% 7,329 $2,138,755
DVY iShares Select Dividend ETF $1,562,000 0.49% 10,273 $1,560,394
HYG iShares Trust $1,477,000 0.46% 19,130 $1,475,470
BSV VANGUARD BOND INDEX FUNDS $1,358,000 0.42% 17,772 $1,356,615
VB Vanguard Morningstar Small-Cap ETF $1,236,000 0.39% 4,345 $1,234,683
WFCPRL CUSIP: 949746804 $1,185,000 0.37% 1,100 $1,183,727
IWV iShares Trust $1,140,000 0.36% 2,641 $1,138,874
BIV VANGUARD BOND INDEX FUNDS $1,075,000 0.33% 14,760 $1,073,868
MPC Marathon Petroleum Corporation Common Stock $989,000 0.31% 2,502 $988,360
IJR iShares Trust $987,000 0.31% 7,252 $985,924
AVGO Broadcom Inc. - Common Stock $802,000 0.25% 2,284 $801,137
IJH iShares Trust $741,000 0.23% 10,295 $740,206
ITOT iShares Trust $689,000 0.21% 4,143 $688,319
AAPL Apple Inc. - Common Stock $684,000 0.21% 2,053 $683,406
MSFT Microsoft Corporation - Common Stock $679,000 0.21% 1,323 $678,506
BLV VANGUARD BOND INDEX FUNDS $644,000 0.20% 10,260 $643,293
BACPRL CUSIP: 060505682 $633,000 0.20% 519 $632,348
VLO Valero Energy Corporation Common Stock $633,000 0.20% 1,634 $632,574
PFF iShares Preferred and Income Securities ETF $620,000 0.19% 21,000 $619,360
NVDA NVIDIA Corporation - Common Stock $600,000 0.19% 2,627 $599,474
AGG iShares Trust $538,000 0.17% 5,692 $537,437
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF $468,000 0.15% 9,139 $467,521
VO Vanguard Morningstar Mid-Cap ETF $466,000 0.15% 5,944 $465,521
JNJ Johnson & Johnson Common Stock $425,000 0.13% 1,606 $424,592
EFA iShares Trust $408,000 0.13% 3,930 $407,592
CMI Cummins Inc. Common Stock $394,000 0.12% 763 $393,456
KLAC KLA Corporation - Common Stock $386,000 0.12% 1,980 $385,403
META Meta Platforms, Inc. - Class A Common Stock $385,000 0.12% 531 $384,701
BP BP p.l.c. Common Stock $370,000 0.12% 8,400 $369,690
F Ford Motor Company Common Stock $362,000 0.11% 30,000 $361,583
AMZN Amazon.com, Inc. - Common Stock $354,000 0.11% 1,422 $353,661
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $329,000 0.10% 1,244 $328,763 Up ×1
INTC Intel Corporation - Common Stock $314,000 0.10% 2,613 $313,635
VGLT Vanguard Long-Term Treasury ETF $314,000 0.10% 6,257 $313,784 Up ×1
PANW Palo Alto Networks, Inc. - Common Stock $313,000 0.10% 788 $312,731
VAL Valaris Limited Common Shares $298,000 0.09% 3,793 $297,725
TRV The Travelers Companies, Inc. Common Stock $282,000 0.09% 790 $281,739
CVX Chevron Corporation Common Stock $276,000 0.09% 1,350 $275,776
V Visa Inc. $248,000 0.08% 690 $247,763
JPM JP Morgan Chase & Co. Common Stock $245,000 0.08% 740 $244,758
GS Goldman Sachs Group, Inc. (The) Common Stock $236,000 0.07% 262 $235,735
TGT Target Corporation Common Stock $224,000 0.07% 1,430 Up ×1
COST Costco Wholesale Corporation - Common Stock $220,000 0.07% 242 $219,774
MRK Merck & Company, Inc. Common Stock (new) $211,000 0.07% 1,453
ANET Arista Networks, Inc. Common Stock $204,000 0.06% 1,003
KO Coca-Cola Company (The) Common Stock $202,000 0.06% 2,342 Up ×1
NODK NI Holdings, Inc. - Common Stock $151,000 0.05% 10,089 $150,700 Down ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
SRLN $32,076,000 10.00% up ×5
SCHD $26,226,000 8.17% up ×6
VEU $11,309,000 3.52% up ×5
SCHB $8,300,000 2.59% up ×4
VCLT $2,875,000 0.90% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TGT $224,000 1,430 0.07%
MRK $211,000 1,453 0.07%
ANET $204,000 1,003 0.06%
KO $202,000 2,342 0.06%

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
BIV Sept. 30, 2025 14,760 $1,142
DGS June 30, 2025 20,000 $966
BLV Sept. 30, 2025 10,260 $713
CX Sept. 30, 2025 74,014 $513 13.5%
EPD June 30, 2025 15,000 $512 19.6%
MRK June 30, 2025 5,253 $472 83.5%
UNH June 30, 2025 900 $471 34.0%
BLK June 30, 2025 425 $402 6.6%
GEV June 30, 2026 459 $401 -30.6%
ORCL March 31, 2026 2,025 $395 -14.2%
WMT June 30, 2025 4,500 $395 22.6%
GLD June 30, 2026 915 $394
SYK June 30, 2026 1,200 $394 -2.4%
VMC June 30, 2026 1,376 $375 -11.3%
HD June 30, 2026 1,135 $373 -9.3%
BKR June 30, 2026 6,045 $369 0.6%
DUK June 30, 2026 2,775 $363 -1.3%
ETN June 30, 2026 997 $357 -14.1%
AEP June 30, 2026 2,646 $347 -5.2%
TJX June 30, 2026 2,154 $344 -4.3%
PG June 30, 2026 2,329 $336 9.8%
TTWO Sept. 30, 2025 1,372 $333 -21.2%
REGN June 30, 2026 423 $327 29.1%
DE June 30, 2026 565 $318 1.9%
LLY June 30, 2026 340 $313 6.2%
MCD June 30, 2026 1,000 $311 -8.1%
BKNG June 30, 2026 71 $299 -12.6%
C June 30, 2026 2,614 $296 -13.8%
TDY June 30, 2026 490 $296 -6.2%
TMUS March 31, 2026 1,421 $289 -30.2%
ANET June 30, 2026 2,157 $265 1.5%
CDNS June 30, 2026 953 $265 -15.7%
TEL June 30, 2026 1,235 $258 3.2%
AMT June 30, 2026 1,482 $256 15.5%
IBM Sept. 30, 2026 906 $255 15.3%
CP June 30, 2025 3,618 $254 12.9%
MCK June 30, 2026 294 $254 32.4%
VRTX June 30, 2026 567 $253 5.5%
PEP June 30, 2025 1,650 $247 2.8%
NOW March 31, 2026 1,600 $245 52.0%
PNC June 30, 2026 1,175 $245 -8.8%
AZN June 30, 2026 1,237 $244 -9.6%
FISV June 30, 2025 1,091 $241 -71.1%
XYL June 30, 2026 1,990 $238 -8.0%
TSM June 30, 2026 702 $237 -12.4%
TSLA June 30, 2026 635 $236 -11.5%
TMO June 30, 2025 468 $233 66.2%
CEG Sept. 30, 2025 699 $226 -23.0%
URI Sept. 30, 2026 196 $222 9.8%
RMD Sept. 30, 2025 820 $212 -7.6%
UBER March 31, 2026 2,585 $211 -7.3%
DE Sept. 30, 2025 410 $208 41.3%
SPGI Sept. 30, 2025 395 $208
ABBV June 30, 2026 948 $206 13.5%
MRSH March 31, 2026 1,111 $206 13.9%
SPGI March 31, 2026 395 $206
ET June 30, 2025 10,000 $186 No longer tracked