Sector breakdown

04
Industrials 10.6%
Technology 8.9%
Financials 8.0%
Health Care 4.6%
Consumer Staples 3.7%
Communication Services 3.2%
Retail 2.8%
Utilities 1.5%
Energy 1.5%
Consumer Discretionary 1.4%
Real Estate 0.9%
Materials 0.9%
Consumer products 0.5%
Other/Unmapped 51.5%

Full portfolio 631 positions

05
Type Streak 8Q trend
PHYS Sprott Physical Gold Trust ETV $22,053,214 12.62% 730,965 $-5,884,740 Down ×6
XLU XLU $17,547,442 10.04% 387,019 $11,883,703 Up ×1
PSLV Sprott Physical Silver Trust ETV $16,330,823 9.34% 865,438 $-7,420,925 Down ×6
AKRE Akre Focus ETF $10,229,984 5.85% 192,329 $-7,502,305 Down ×1
DE Deere & Company Common Stock $7,445,448 4.26% 11,737 $799,989 Down ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $4,894,315 2.80% 9,781 $44,811 Down ×6
PEO Adams Natural Resources Fund, Inc. Common Stock $4,008,064 2.29% 162,138 $-606,681 Down ×6
AAPL Apple Inc. - Common Stock $3,664,407 2.10% 12,664 $497,719 Up ×1
NVDA NVIDIA Corporation - Common Stock $3,038,129 1.74% 15,184 $451,974 Up ×1
INGR Ingredion Incorporated Common Stock $2,537,208 1.45% 26,789 $-194,549 Up ×3
GD General Dynamics Corporation Common Stock $2,286,117 1.31% 6,454 $-42,249 Down ×6
MSFT Microsoft Corporation - Common Stock $2,153,734 1.23% 5,774 $305,713 Up ×6
VZ Verizon Communications Inc. Common Stock $1,875,317 1.07% 44,292 $115,961 Up ×6
ABBV AbbVie Inc. Common Stock $1,751,327 1.00% 6,960 $222,408 Down ×3
ZM Zoom Communications, Inc. - Class A Common Stock $1,673,810 0.96% 19,393 $395,448 Up ×2
PEP PepsiCo, Inc. - Common Stock $1,627,312 0.93% 12,019 $-283,846 Down ×1
SPHQ Invesco Exchange-Traded Fund Trust $1,586,063 0.91% 17,603 $166,197 Down ×1
TGT Target Corporation Common Stock $1,578,337 0.90% 12,084 $973,238 Up ×2
GOOG Alphabet Inc. - Class C Capital Stock $1,551,196 0.89% 4,390 $271,441 Down ×3
IBTI iShares Trust $1,475,911 0.84% 66,663 $966,189 Up ×1
TPR Tapestry, Inc. Common Stock $1,320,918 0.76% 9,024 $-816,709 Down ×6
GEHC GE HealthCare Technologies Inc. - Common Stock $1,289,060 0.74% 20,138 $760,373 Up ×2
CAT Caterpillar, Inc. Common Stock $1,246,831 0.71% 1,171 $370,275 Down ×3
LNT Alliant Energy Corporation - Common Stock $1,238,201 0.71% 16,230 $10,409 Down ×3
BF-B (filed as BFB) Brown-Forman Corporation Class B $1,226,220 0.70% 46,012 $691,418 Up ×1
IJH iShares Trust $1,190,479 0.68% 15,439 $149,360 Up ×1
TROW T. Rowe Price Group, Inc. - Common Stock $1,180,712 0.68% 10,385 $678,063 Up ×2
RTX RTX Corporation Common Stock $1,179,813 0.67% 6,218 $-22,676 Down ×3
PAG Penske Automotive Group, Inc. Common Stock $1,076,275 0.62% 6,014 $612,613 Up ×1
AMAT Applied Materials, Inc. - Common Stock $1,056,989 0.60% 1,462 $532,563 Down ×1
PFG Principal Financial Group Inc - Common Stock $1,037,197 0.59% 9,623 $171,865 Up ×4
FDL First Trust Exchange-Traded Fund $1,035,114 0.59% 21,272 $86,468 Up ×6
AMP Ameriprise Financial, Inc. Common Stock $1,003,868 0.57% 2,188 $34,917 Up ×2
BK The Bank of New York Mellon Corporation Common Stock $987,085 0.56% 6,826 $179,583 Up ×1
ADBE Adobe Inc. - Common Stock $980,201 0.56% 4,781 $490,881 Up ×2
NEE NextEra Energy, Inc. Common Stock $965,073 0.55% 10,995 $-195,280 Down ×2
WTBA West Bancorporation - Common Stock $932,906 0.53% 35,164 $93,474 Down ×2
JLL Jones Lang LaSalle Incorporated Common Stock $852,053 0.49% 2,749 $-51,473 Down ×6
AXP American Express Company Common Stock $845,010 0.48% 2,498 $25,461 Down ×6
PG Procter & Gamble Company (The) Common Stock $844,843 0.48% 5,761 $81,856 Up ×2
Unknown issuer (CUSIP: 30233Q108) $814,741 0.47% 5,959 Up ×1
COP ConocoPhillips Common Stock $792,257 0.45% 7,621 $-227,006 Down ×6
MMM 3M Company Common Stock $786,124 0.45% 4,855 $-1,031 Down ×6
MCK McKesson Corporation Common Stock $779,601 0.45% 1,032 $-121,050 Down ×3
GE GE Aerospace Common Stock $758,409 0.43% 2,029 $177,233 Down ×1
ATI ATI Inc. Common Stock $753,119 0.43% 3,821 $-34,401 Down ×2
PSX Phillips 66 Common Stock $704,029 0.40% 4,165 $-87,593 Down ×6
JPM JP Morgan Chase & Co. Common Stock $691,798 0.40% 2,113 $-6,166 Down ×5
SCHF SCHWAB STRATEGIC TRUST $687,592 0.39% 24,823 $76,174 Up ×1
SCHD SCHWAB STRATEGIC TRUST $631,664 0.36% 19,920 $25,858 Up ×3
WMT Walmart Inc. - Common Stock $619,482 0.35% 5,470 $-58,177 Up ×1
INTC Intel Corporation - Common Stock $606,994 0.35% 4,347 $-163,042 Down ×5
IBTH iShares Trust $603,802 0.35% 26,992 $203,379 Up ×1
SCHV SCHWAB STRATEGIC TRUST $587,757 0.34% 16,885 $75,092 Up ×4
GEV GE Vernova Inc. Common Stock $578,799 0.33% 493 $144,600 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $562,069 0.32% 998 $-9,713 Down ×2
GS Goldman Sachs Group, Inc. (The) Common Stock $551,992 0.32% 546 $54,216 Down ×6
CSCO Cisco Systems, Inc. - Common Stock $550,493 0.31% 4,687 $-118,181 Down ×4
ISCG iShares Trust $548,765 0.31% 8,373 $90,320 Up ×6
QCOM QUALCOMM Incorporated - Common Stock $544,723 0.31% 2,948 $115,445 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $498,675 0.29% 1,395 $98,956 Up ×2
BMY Bristol-Myers Squibb Company Common Stock $493,812 0.28% 8,570 $333,203 Up ×1
HD Home Depot, Inc. (The) Common Stock $463,389 0.27% 1,314 $34,206 Up ×1
VXUS Vanguard Total International Stock ETF $456,641 0.26% 5,341 $46,579 Up ×6
CVS CVS Health Corporation Common Stock $455,510 0.26% 4,403 $130,647 Down ×6
CARR Carrier Global Corporation Common Stock $454,042 0.26% 6,190 $90,793 Down ×1
CVX Chevron Corporation Common Stock $437,595 0.25% 2,640 $-95,168 Up ×6
ROK Rockwell Automation, Inc. Common Stock $406,119 0.23% 820 $111,941
TSLA Tesla, Inc. - Common Stock $400,924 0.23% 953 $84,483 Up ×3
VEU VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $384,020 0.22% 4,585 $40,622 Up ×6
IVV iShares Trust $376,084 0.22% 502 $54,777 Up ×4
PM Philip Morris International Inc Common Stock $375,055 0.21% 2,073 $34,459 Up ×2
EMN Eastman Chemical Company Common Stock $363,042 0.21% 5,420 $-69,604 Down ×6
SCHG SCHWAB STRATEGIC TRUST $347,367 0.20% 10,265 $48,918 Up ×2
ALB Albemarle Corporation Common Stock $335,309 0.19% 2,483 $-186,366 Down ×6
AMZN Amazon.com, Inc. - Common Stock $332,723 0.19% 1,396 $25,525 Down ×3
OMC Omnicom Group Inc. Common Stock $324,656 0.19% 4,458 $-115,168 Down ×2
WFC Wells Fargo & Company Common Stock $323,676 0.19% 3,917 $-168,143 Down ×6
ABT Abbott Laboratories Common Stock $321,382 0.18% 3,542 $-62,735 Down ×4
ELV Elevance Health, Inc. Common Stock $310,521 0.18% 803 $77,348 Up ×3
CMI Cummins Inc. Common Stock $305,301 0.17% 428 $34,074 Down ×6
JNJ Johnson & Johnson Common Stock $287,753 0.16% 1,133 $13,683 Up ×1
WPC W. P. Carey Inc. REIT $286,402 0.16% 4,006 $17,696 Up ×2
SMG Scotts Miracle-Gro Company (The) Common Stock $283,245 0.16% 4,159 $-171,443 Down ×6
LMT Lockheed Martin Corporation Common Stock $271,459 0.16% 533 $-48,784 Up ×1
KO Coca-Cola Company (The) Common Stock $267,254 0.15% 3,288 $18,240 Up ×1
DIA State Street SPDR Dow Jones Industrial Average ETF Trust $265,860 0.15% 509 $30,184
PFE Pfizer, Inc. Common Stock $260,331 0.15% 10,811 $-3,820 Up ×4
VWO VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $253,121 0.14% 4,241 $18,387 Down ×1
BDX Becton, Dickinson and Company Common Stock $252,544 0.14% 1,669 $248,969 Up ×2
DSI iShares Trust $251,345 0.14% 1,765 $37,520 Up ×4
RDVY First Trust Rising Dividend Achievers ETF $248,490 0.14% 3,066 $30,870 Down ×1
CASY Caseys General Stores, Inc. - Common Stock $247,750 0.14% 312 $20,982
IJR iShares Trust $236,238 0.14% 1,593 $38,826 Up ×2
WSM Williams-Sonoma, Inc. Common Stock (DE) $234,226 0.13% 1,005 $9,802 Down ×6
BIIB Biogen Inc. - Common Stock $231,940 0.13% 1,074 $16,069 Down ×1
SHOP Shopify Inc. - Class A Subordinate Voting Shares $228,360 0.13% 2,000 $-8,880
DTF DTF Tax-Free Income 2028 Term Fund Inc. Common Stock $224,900 0.13% 19,472 $-1,879 Down ×1
UPS United Parcel Service, Inc. Common Stock $223,351 0.13% 2,078 $20,291 Up ×2
USB U.S. Bancorp Common Stock $218,055 0.12% 3,610 $13,396 Down ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
INGR $2,537,208 1.45% up ×3
MSFT $2,153,734 1.23% up ×6
VZ $1,875,317 1.07% up ×6
PFG $1,037,197 0.59% up ×4
FDL $1,035,114 0.59% up ×6
SCHD $631,664 0.36% up ×3
SCHV $587,757 0.34% up ×4
ISCG $548,765 0.31% up ×6
VXUS $456,641 0.26% up ×6
CVX $437,595 0.25% up ×6
TSLA $400,924 0.23% up ×3
VEU $384,020 0.22% up ×6
IVV $376,084 0.22% up ×4
ELV $310,521 0.18% up ×3
PFE $260,331 0.15% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 30233Q108) $814,741 5,959 0.47%
UCON $92,307 3,710 0.05%
Unknown issuer (CUSIP: 84615Q103) $69,369 406 0.04%
VB $66,739 220 0.04%
Unknown issuer (CUSIP: 26614N201) $30,790 227 0.02%
EWY $29,679 147 0.02%
FSSL $29,494 2,645 0.02%
Unknown issuer (CUSIP: 438516205) $26,868 120 0.02%
Unknown issuer (CUSIP: 43849R105) $26,530 120 0.02%
PSCC $24,686 700 0.01%
QBTS $23,990 1,000 0.01%
FTCB $20,288 973 0.01%
EPD $19,556 532 0.01%
ARTNA $17,437 513 0.01%
SPHY $17,299 738 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
XLU Bought more +264K +$11.9M
AKRE Trimmed -143K -$7.5M
PSLV Trimmed -108K -$7.4M
PHYS Trimmed -57K -$5.9M
TGT Bought more +7K +$973K
IBTI Bought more +44K +$966K
TPR Trimmed -6K -$817K
DE Trimmed -60 +$800K
GEHC Bought more +13K +$760K
BF-B (filed as BFB) Bought more +26K +$691K

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
XOM June 30, 2026 5,965 $1,012,035 20.0%
PARA Sept. 30, 2025 73,971 $954,225
HBI Dec. 31, 2025 111,115 $732,250 No longer tracked
IPG Dec. 31, 2025 23,008 $642,167 No longer tracked
IVW Sept. 30, 2025 3,143 $346,023 18.7%
HYD March 31, 2026 5,766 $294,801 -4.1%
MELI Dec. 31, 2025 124 $289,781 -15.8%
DVA June 30, 2025 1,749 $267,545 25.4%
FISV June 30, 2025 1,120 $247,330 -74.3%
BMY June 30, 2025 4,004 $244,222 32.1%
SCHX March 31, 2026 9,048 $243,504 18.4%
CPB June 30, 2025 5,921 $236,351 -36.0%
CI Sept. 30, 2025 670 $221,426 -6.1%
SEE June 30, 2026 5,242 $220,414 No longer tracked
UNH June 30, 2025 416 $217,930 19.2%
K Dec. 31, 2025 2,657 $217,908 No longer tracked
SLB June 30, 2025 4,887 $204,291 44.2%
V June 30, 2025 576 $201,736 1.6%
JCPB June 30, 2026 1,926 $90,676
DFUS June 30, 2026 1,119 $79,348
MGK June 30, 2026 208 $76,428 6.2%
VFQY June 30, 2026 508 $75,810
DFIV June 30, 2026 1,293 $68,245
DFAS June 30, 2026 903 $64,230
BKNG March 31, 2026 11 $61,586 -5.6%
OXLC (filed as OXLCXXXX) Sept. 30, 2025 14,546 $61,093 -47.4%
GLDM June 30, 2026 648 $60,063 3.3%
FLDR June 30, 2026 1,177 $58,909
HON June 30, 2026 244 $55,040 -4.4%
VTI March 31, 2026 96 $32,463
DD June 30, 2026 684 $31,325 -4.2%
FTNT June 30, 2026 360 $29,419 17.8%
AX March 31, 2026 328 $28,260 4.5%
YLD June 30, 2026 1,458 $27,644
VCSH June 30, 2026 346 $27,427
FERG June 30, 2026 116 $26,951 -5.9%
GWW June 30, 2026 23 $25,560 -5.9%
EFG March 31, 2026 221 $25,233
LECO June 30, 2026 97 $24,158 3.3%
PKST June 30, 2026 1,124 $23,475 No longer tracked
AZN March 31, 2026 251 $23,074 -20.4%
NGD March 31, 2026 2,495 $21,731 No longer tracked
DOCU June 30, 2026 430 $20,386 55.4%
MTN March 31, 2026 140 $18,667 10.0%
SDOG March 31, 2026 249 $15,081
SPMO June 30, 2026 131 $14,728
CHKP June 30, 2026 102 $14,571 -0.8%
QUAL June 30, 2026 74 $14,225
PZZA June 30, 2026 432 $13,995 -47.2%
ORLY June 30, 2026 150 $13,847 -7.8%
APO June 30, 2026 123 $13,712 -3.6%
ROP June 30, 2026 35 $12,558 4.7%
BBDC June 30, 2026 1,486 $12,229 1.3%
ALLE March 31, 2026 75 $11,941 6.1%
CDW June 30, 2026 89 $10,746 -5.2%
LDOS June 30, 2026 65 $10,066 14.3%
PEG March 31, 2026 122 $9,834 -15.9%
CCL June 30, 2026 359 $9,301 -9.8%
MEDP June 30, 2026 18 $8,643 13.2%
VMC June 30, 2026 30 $8,286 -17.6%
AYI June 30, 2026 28 $7,846 -18.0%
BRX June 30, 2026 271 $7,805 -13.1%
SONY June 30, 2026 370 $7,659 18.7%
NVS June 30, 2026 49 $7,485 -10.0%
GDEC June 30, 2026 200 $7,404
UBER March 31, 2026 89 $7,272 -5.3%
SSNC June 30, 2026 107 $7,245 26.6%
BIDU June 30, 2026 63 $7,019 -26.2%
VIPS March 31, 2026 395 $6,987 -21.6%
MTDR June 30, 2026 110 $6,969 7.5%
MGY June 30, 2026 216 $6,819 -5.9%
ABCB June 30, 2026 87 $6,812 -9.8%
HALO June 30, 2026 100 $6,463 40.4%
UL June 30, 2026 109 $6,210 -0.7%
ALGN June 30, 2026 36 $6,171 -14.8%
SAP June 30, 2026 36 $6,085 35.3%
PLAB June 30, 2026 147 $5,940 -3.2%
PIPR March 31, 2026 17 $5,908 -14.6%
STAG June 30, 2026 163 $5,887 -5.3%
PNR March 31, 2026 56 $5,831 -39.1%
SDVY June 30, 2026 137 $5,415
AVNT June 30, 2026 144 $5,220 11.4%
HMN June 30, 2026 120 $5,125 -12.4%
RHP June 30, 2026 55 $5,107 -5.4%
CTSH June 30, 2026 83 $5,093 51.1%
IYW June 30, 2026 28 $5,082 5.5%
BCPC June 30, 2026 29 $4,999 -1.4%
SKY June 30, 2026 60 $4,462 0.0%
CNS June 30, 2026 63 $3,972 -4.1%
LAD June 30, 2026 14 $3,554 5.9%
NTAP March 31, 2026 33 $3,533 121.0%
SKYY June 30, 2026 27 $2,953
GUNR March 31, 2026 62 $2,842
IGV June 30, 2026 35 $2,802 17.0%
CGNX June 30, 2026 50 $2,450 -10.3%
NFG June 30, 2026 26 $2,443 -1.0%
SFM March 31, 2026 30 $2,390 -16.4%
SIL March 31, 2026 28 $2,338 -4.0%
ICFI June 30, 2026 30 $1,979 12.4%
IFRA June 30, 2026 34 $1,954
EMB June 30, 2026 19 $1,785
FLTR June 30, 2026 54 $1,376
ICLN June 30, 2026 73 $1,335
SHV June 30, 2026 12 $1,325
SPLB March 31, 2026 56 $1,264
MOAT March 31, 2026 5 $517
ONEQ June 30, 2026 6 $509
GSLC June 30, 2026 4 $501
SMMU June 30, 2026 9 $454
FVAL June 30, 2026 6 $416
HMOP June 30, 2026 10 $387
FTCS March 31, 2026 4 $372
MUNI June 30, 2026 7 $365
PXF June 30, 2026 5 $350
IAUM June 30, 2026 7 $327
CGXU June 30, 2026 11 $324
VFMF June 30, 2026 2 $310
FLSP June 30, 2026 10 $272
JPEM June 30, 2026 4 $249
FLMI June 30, 2026 8 $198
LAZRQ March 31, 2026 19 $1 No longer tracked