Sector breakdown

04
Industrials 5.0%
Technology 4.9%
Communication Services 2.7%
Healthcare 1.5%
Consumer Staples 1.4%
Financials 1.4%
Retail 1.1%
Energy 0.7%
Consumer Discretionary 0.4%
Real Estate 0.1%
Consumer products 0.1%
Materials 0.1%
Other/Unmapped 80.5%

Full portfolio 250 positions

05
Type Streak 8Q trend
SPY SPY $801,744,502 37.60% 1,073,616 $107,605,842 Up ×5
ILOW AB Active ETFs, Inc. $220,770,718 10.35% 4,856,373 $19,065,790 Up ×4
IVV iShares Trust $168,459,901 7.90% 224,946 $46,959,496 Up ×1
UPS United Parcel Service, Inc. Common Stock $81,085,961 3.80% 754,288 $6,878,911 Down ×1
AAPL Apple Inc. - Common Stock $56,177,916 2.63% 194,145 $5,284,084 Down ×2
LPRE Exchange Listed Funds Trust $38,572,073 1.81% 1,281,464 $6,049,383 Up ×4
VOO VANGUARD INDEX FUNDS $38,115,684 1.79% 55,497 $7,876,539 Up ×2
Unknown issuer (CUSIP: 92204a702) $30,578,953 1.43% 255,848 $8,265,170 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $29,978,897 1.41% 83,888 $5,913,304 Up ×1
Unknown issuer (CUSIP: 46137v357) $26,444,468 1.24% 124,287 $2,591,495 Up ×2
VTI VANGUARD INDEX FUNDS $25,843,597 1.21% 69,840 $3,395,877 Down ×2
PM Philip Morris International Inc Common Stock $23,069,462 1.08% 127,519 $1,984,644 Down ×2
MSFT Microsoft Corporation - Common Stock $21,591,845 1.01% 57,884 $-178,046 Down ×2
GOOG Alphabet Inc. - Class C Capital Stock $19,580,842 0.92% 55,418 $3,366,654 Down ×2
Unknown issuer (CUSIP: 48251w104) $19,351,354 0.91% 210,845 $-151,809
ITOT iShares Trust $18,959,715 0.89% 115,418 $4,002,713 Up ×2
ACWI iShares MSCI ACWI ETF $17,623,229 0.83% 112,271 $8,858,140 Up ×3
Unknown issuer (CUSIP: 78463v107) $16,924,605 0.79% 45,943 $-2,234,630 Up ×2
VT VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $16,223,619 0.76% 103,368 $8,836,594 Up ×3
ABBV AbbVie Inc. Common Stock $13,491,679 0.63% 53,615 $1,830,518 Down ×3
VUG VANGUARD INDEX FUNDS $13,305,446 0.62% 154,463 $3,585,649 Up ×3
VEU VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $12,948,394 0.61% 154,608 $6,770,818 Up ×1
FLIN Franklin Templeton ETF Trust $12,601,200 0.59% 354,265 $832,522
AMAT Applied Materials, Inc. - Common Stock $12,133,386 0.57% 16,782 $6,396,783 Down ×3
IYW iShares Trust $10,893,561 0.51% 43,189 $3,058,213
IWF iShares Trust $10,583,103 0.50% 85,231 $9,316,797 Up ×1
AMZN Amazon.com, Inc. - Common Stock $10,484,577 0.49% 43,990 $1,033,701 Down ×2
Unknown issuer (CUSIP: 30231g102) $10,052,820 0.47% 73,529 $-2,422,588 Down ×3
VEA VANGUARD TAX-MANAGED FUNDS $9,672,306 0.45% 135,752 $7,403,939 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $9,225,190 0.43% 18,436 $246,420 Down ×1
Unknown issuer (CUSIP: 46625h100) $9,041,182 0.42% 27,621 $708,218 Down ×6
Unknown issuer (CUSIP: 38141g104) $8,909,520 0.42% 8,809 $1,337,620 Down ×2
VO VANGUARD INDEX FUNDS $7,292,377 0.34% 90,510 $791,595 Up ×1
WMT Walmart Inc. - Common Stock $7,129,435 0.33% 62,948 $-841,049 Down ×5
JNJ Johnson & Johnson Common Stock $7,089,065 0.33% 27,913 $122,769 Down ×2
Unknown issuer (CUSIP: 02209s103) $7,037,573 0.33% 97,812 $582,827 Down ×3
Unknown issuer (CUSIP: 46434g764) $6,948,830 0.33% 67,926 Up ×1
AGG iShares Trust $5,894,556 0.28% 59,553 $4,264,642 Up ×3
INDE Matthews International Funds $5,457,205 0.26% 184,461 $687,689
IJR iShares Trust $5,251,954 0.25% 35,412 $5,008,182 Up ×1
Unknown issuer (CUSIP: 25434v609) $5,219,573 0.24% 74,672 $551,685 Down ×1
UNP Union Pacific Corporation Common Stock $4,999,904 0.23% 18,382 $280,945 Down ×3
OEF iShares Trust $4,917,502 0.23% 13,441 $642,459
ABT Abbott Laboratories Common Stock $4,825,916 0.23% 53,184 $-962,105 Down ×1
Unknown issuer (CUSIP: 57636q104) $4,622,400 0.22% 9,000 $-127,868 Down ×1
XLK SELECT SECTOR SPDR TRUST $4,526,155 0.21% 23,757 $1,369,354 Up ×4
DVY iShares Select Dividend ETF $4,513,006 0.21% 28,874 $3,954,455 Up ×1
IWN iShares Trust $4,427,097 0.21% 20,014 $929,351 Up ×1
IJH iShares Trust $4,294,102 0.20% 55,688 Up ×1
URTH iShares, Inc. $4,282,106 0.20% 21,132 $425,657 Down ×2
KMI Kinder Morgan, Inc. Common Stock $4,180,365 0.20% 130,759 $-203,984
MDLZ Mondelez International, Inc. - Class A Common Stock $4,081,306 0.19% 70,562 $13,882 Down ×3
DSI iShares Trust $4,065,519 0.19% 28,552 $489,687 Down ×4
QTEC First Trust NASDAQ-100-Technology Sector Index Fund $3,978,954 0.19% 11,888 $1,411,281
IWO iShares Trust $3,962,056 0.19% 10,057 $1,086,615 Up ×1
Unknown issuer (CUSIP: 46090e103) $3,896,273 0.18% 5,291 $813,570 Down ×1
CAT Caterpillar, Inc. Common Stock $3,889,015 0.18% 3,652 $1,298,885 Down ×3
ABNB Airbnb, Inc. - Class A Common Stock $3,805,601 0.18% 26,594 $434,683 Down ×1
BP BP p.l.c. Common Stock $3,790,848 0.18% 102,594 $-1,031,070
META Meta Platforms, Inc. - Class A Common Stock $3,700,815 0.17% 6,570 $-82,681 Down ×1
HOOD Robinhood Markets, Inc. - Class A Common Stock $3,677,869 0.17% 36,676 $1,115,432 Down ×1
Unknown issuer (CUSIP: 25381b101) $3,672,285 0.17% 446,750 $1,132,347 Down ×1
Unknown issuer (CUSIP: 92826c839) $3,613,767 0.17% 10,533 $298,496 Down ×2
INTC Intel Corporation - Common Stock $3,471,062 0.16% 24,859 $2,373,814 Down ×2
ARCC Ares Capital Corporation - Closed End Fund $3,301,359 0.15% 178,163 $511,050 Up ×1
DOV Dover Corporation Common Stock $3,139,920 0.15% 14,000 $221,620
VYM VANGUARD WHITEHALL FUNDS $3,123,463 0.15% 19,765 Up ×1
CVX Chevron Corporation Common Stock $2,956,356 0.14% 17,835 $-886,070 Down ×1
IBIT iShares Bitcoin Trust ETF $2,952,264 0.14% 88,683 $51,984 Up ×1
PH Parker-Hannifin Corporation Common Stock $2,904,038 0.14% 2,969 $-120,083 Down ×1
XLP XLP $2,889,175 0.14% 34,780 $37,911
Unknown issuer (CUSIP: 03769m106) $2,772,873 0.13% 23,437 $165,579 Up ×1
COST Costco Wholesale Corporation - Common Stock $2,656,083 0.12% 2,839 $-243,733 Down ×1
Unknown issuer (CUSIP: g6683n103) $2,614,405 0.12% 195,689 $-197,646
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $2,550,291 0.12% 32,890 $-508,479
Unknown issuer (CUSIP: g0692u109) $2,512,914 0.12% 23,389 $141,036
Unknown issuer (CUSIP: 59064r109) $2,508,162 0.12% 25,195 $280,420
KO Coca-Cola Company (The) Common Stock $2,470,590 0.12% 30,400 $44,115 Down ×2
IWD iShares Trust $2,462,846 0.12% 10,159 $2,193,835 Up ×1
GE GE Aerospace Common Stock $2,388,508 0.11% 6,391 $346,783 Down ×2
HD Home Depot, Inc. (The) Common Stock $2,292,420 0.11% 6,500 $55,639 Down ×3
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $2,246,550 0.11% 3 $92,130
IEFA iShares Trust $2,243,457 0.11% 23,229
PFG Principal Financial Group Inc - Common Stock $2,079,831 0.10% 19,297 $340,888 Down ×3
AMGN Amgen Inc. - Common Stock $2,020,630 0.09% 5,580 $57,307
Unknown issuer (CUSIP: 17275r102) $1,948,779 0.09% 16,591 $653,569 Down ×5
IVW iShares Trust $1,939,448 0.09% 14,102 $290,983 Down ×1
CMI Cummins Inc. Common Stock $1,913,542 0.09% 2,683 $468,958 Down ×3
MCD McDonald's Corporation Common Stock $1,852,164 0.09% 6,852 $-434,007 Down ×2
LLY Eli Lilly and Company Common Stock $1,826,654 0.09% 1,523 $317,371 Down ×1
EIS iShares, Inc. $1,809,684 0.08% 14,992 Up ×1
TPG TPG Inc. - Class A Common Stock $1,793,162 0.08% 44,221 $1,769
VTV VANGUARD INDEX FUNDS $1,781,958 0.08% 8,177 $165,009 Down ×1
IWR iShares Trust $1,743,277 0.08% 15,802 Up ×1
NFRA FlexShares Trust $1,672,514 0.08% 26,084 Up ×1
Unknown issuer (CUSIP: 33939l407) $1,612,343 0.08% 32,718 Up ×1
GEV GE Vernova Inc. Common Stock $1,581,362 0.07% 1,346 $229,240 Down ×2
JSCP J.P. Morgan Exchange-Traded Fund Trust $1,553,993 0.07% 32,962 $-5,110
NOW ServiceNow, Inc. Common Stock $1,549,264 0.07% 15,605 $-161,174 Down ×2
SNOW Snowflake Inc. Common Stock $1,508,167 0.07% 5,926

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
SPY $801,744,502 37.60% up ×5
ILOW $220,770,718 10.35% up ×4
LPRE $38,572,073 1.81% up ×4
ACWI $17,623,229 0.83% up ×3
VT $16,223,619 0.76% up ×3
VUG $13,305,446 0.62% up ×3
AGG $5,894,556 0.28% up ×3
XLK $4,526,155 0.21% up ×4
None $432,842 0.02% up ×4
NKE $317,003 0.01% up ×5
NFLX $225,624 0.01% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 46434g764) $6,948,830 67,926 0.33%
IJH $4,294,102 55,688 0.20%
VYM $3,123,463 19,765 0.15%
IEFA $2,243,457 23,229 0.11%
EIS $1,809,684 14,992 0.08%
IWR $1,743,277 15,802 0.08%
NFRA $1,672,514 26,084 0.08%
Unknown issuer (CUSIP: 33939l407) $1,612,343 32,718 0.08%
SNOW $1,508,167 5,926 0.07%
IGSB $1,262,609 24,091 0.06%
VNQ $969,411 10,053 0.05%
Unknown issuer (CUSIP: 78464a409) $773,435 6,500 0.04%
Unknown issuer (CUSIP: 09661t107) $647,693 4,517 0.03%
QUAL $595,752 2,715 0.03%
DFIV $502,386 9,300 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPY Bought more +6K +$107.6M
IVV Bought more +39K +$47.0M
ILOW Bought more +128K +$19.1M
ACWI Bought more +49K +$8.9M
VT Bought more +50K +$8.8M
· Bought more +224K +$8.3M
VOO Bought more +5K +$7.9M
VEA Bought more +100K +$7.4M
UPS Trimmed -2 +$6.9M
VEU Bought more +72K +$6.8M

1 position hidden — reported move looks larger than the position itself (data completeness check)

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
HAYW Sept. 30, 2025 4,591,730 $63,365,874 -18.0%
ASHR March 31, 2026 299,180 $9,828,067
IQLT March 31, 2026 85,430 $3,882,783
VXUS March 31, 2026 50,027 $3,774,045
VTIP March 31, 2026 46,632 $2,306,419
HROW June 30, 2025 62,000 $1,649,200 -0.2%
VNQ Sept. 30, 2025 15,941 $1,419,705
XLV March 31, 2026 8,863 $1,372,013 13.3%
PSX June 30, 2025 10,780 $1,331,114 121.8%
SNOW March 31, 2026 5,926 $1,299,927 126.1%
LENZ June 30, 2025 40,000 $1,028,400 -87.8%
SNREY June 30, 2025 20,000 $965,800 No longer tracked
VCR Dec. 31, 2025 2,354 $932,537
GEL June 30, 2025 58,703 $921,053 -18.5%
VFH March 31, 2026 6,530 $871,690
GRAL March 31, 2026 10,001 $855,986 177.2%
MLM June 30, 2026 1,242 $731,141 -16.4%
ITT June 30, 2026 3,451 $657,519 4.3%
WAB June 30, 2026 2,544 $635,771 6.7%
SGI June 30, 2026 8,518 $629,651 -21.0%
LYV June 30, 2026 4,076 $621,631 -7.8%
VIK June 30, 2026 8,458 $621,494 -23.0%
HST March 31, 2026 35,002 $620,585 17.7%
QUAL March 31, 2026 2,944 $584,737
CVMC March 31, 2026 8,796 $564,087
BATRK June 30, 2025 14,006 $560,380 11.2%
VIS March 31, 2026 1,861 $555,285
LH June 30, 2026 2,044 $545,360 10.2%
DDOG Dec. 31, 2025 3,811 $542,686 103.9%
MKL June 30, 2026 272 $520,627 -11.1%
TSCO June 30, 2026 11,215 $508,040 -1.6%
TSM Dec. 31, 2025 1,798 $502,163 55.6%
LGFB June 30, 2025 60,000 $475,200 No longer tracked
NDAQ June 30, 2026 5,543 $470,545 14.6%
SCI June 30, 2026 5,608 $462,716 1.6%
VSTS June 30, 2025 45,000 $445,500 144.9%
GEHC June 30, 2025 5,494 $443,421 -13.2%
FLG June 30, 2025 35,362 $410,906 10.4%
NXT June 30, 2025 9,567 $403,153 55.0%
INTU Sept. 30, 2025 511 $402,479 -58.8%
BRO June 30, 2026 5,996 $390,999 -6.6%
IEFA March 31, 2026 4,283 $383,157
VZ March 31, 2026 9,357 $381,111 -8.5%
PCG Dec. 31, 2025 25,004 $377,060 -23.3%
KBE June 30, 2026 6,200 $369,210 -5.7%
TEAM March 31, 2026 2,229 $361,410 175.3%
ITUB June 30, 2026 42,522 $356,334 5.1%
NEAR Dec. 31, 2025 6,918 $354,755
TRMB June 30, 2026 5,170 $337,239 12.4%
CVNA March 31, 2026 787 $332,130 -79.7%
TLT Dec. 31, 2025 3,597 $321,464
CLH June 30, 2026 1,105 $316,837 6.6%
PBR June 30, 2026 14,290 $296,518 34.0%
VUSB Dec. 31, 2025 5,898 $294,871
KMX Sept. 30, 2025 4,270 $286,987 22.4%
MELI March 31, 2026 142 $286,025 -1.9%
GTX June 30, 2025 34,000 $284,580 157.6%
VGSH Sept. 30, 2025 4,837 $284,344
UNH March 31, 2026 849 $280,263 37.4%
IJK March 31, 2026 2,800 $271,264 9.9%
PAYX June 30, 2026 2,941 $270,925 0.6%
VDE March 31, 2026 2,147 $270,350
IJJ March 31, 2026 2,000 $263,180 6.0%
LXRX June 30, 2025 570,000 $262,656 91.6%
VV March 31, 2026 834 $262,543
MTUM March 31, 2026 1,045 $261,574
CNTA June 30, 2026 6,551 $260,206 No longer tracked
SAP March 31, 2026 1,063 $258,213 21.8%
LUCK Dec. 31, 2025 25,000 $256,000 -37.5%
EMBJ Dec. 31, 2025 4,155 $251,170 16.8%
BRSL June 30, 2025 15,000 $243,900 -37.7%
QCOM March 31, 2026 1,423 $243,404 43.6%
DHR March 31, 2026 1,062 $243,029 12.9%
TRML Sept. 30, 2025 15,000 $239,850 No longer tracked
IBB June 30, 2025 1,839 $235,208 62.3%
MINT Dec. 31, 2025 2,304 $231,990
IJS March 31, 2026 2,000 $227,440 10.2%
IJT March 31, 2026 1,600 $225,856
MIDD June 30, 2026 1,696 $224,856 -39.2%
SHAK June 30, 2026 2,500 $221,175 8.9%
ECO June 30, 2025 10,000 $221,000 301.7%
RAMP March 31, 2026 7,500 $220,275 42.0%
CL June 30, 2025 2,321 $217,478 -7.3%
DT March 31, 2026 5,000 $216,700 60.4%
CHTR March 31, 2026 1,034 $215,848 -49.4%
BABA Dec. 31, 2025 1,196 $213,807 -27.8%
CPB June 30, 2025 5,334 $212,933 -36.0%
SHYG Dec. 31, 2025 4,903 $212,300
SYY March 31, 2026 2,871 $211,564 8.6%
CPAY June 30, 2026 726 $211,259 18.4%
SYK March 31, 2026 595 $209,125 -16.2%
CHX June 30, 2025 7,000 $208,600 No longer tracked
AJG Dec. 31, 2025 671 $207,836 -12.6%
AMD March 31, 2026 970 $207,735 211.6%
BAX June 30, 2025 6,062 $207,502 -22.4%
MCHI Dec. 31, 2025 3,147 $207,230
PHM March 31, 2026 1,738 $203,798 -1.6%
EMR June 30, 2026 1,552 $203,343 12.9%
XLC June 30, 2026 1,827 $202,541 3.0%
USHY Dec. 31, 2025 5,300 $200,234
NRIX Dec. 31, 2025 20,988 $193,929 21.2%
MLKN March 31, 2026 10,402 $190,149 40.0%
HPP March 31, 2026 16,428 $177,915 94.2%
JRVR June 30, 2025 40,000 $168,000 -40.4%
SAN June 30, 2026 11,548 $130,261 -3.2%
VMD June 30, 2025 15,000 $109,200 32.1%
THRD June 30, 2025 30,000 $104,100 No longer tracked
IKNA June 30, 2025 70,000 $89,600 No longer tracked
LYEL (filed as LYELXXXX) June 30, 2025 164,041 $88,254 4.8%
CNDT June 30, 2025 30,000 $81,000 -37.5%
SOND Dec. 31, 2025 50,000 $63,500 No longer tracked
SMRT March 31, 2026 21,551 $43,533 -20.0%
ENZB June 30, 2025 100,000 $37,000 No longer tracked
OABI March 31, 2026 20,000 $37,000 210.2%
PRPL June 30, 2025 24,000 $18,221 -88.5%
FGEN June 30, 2025 16,444 $5,096 No longer tracked