Sector breakdown

04
Technology 6.8%
Communication Services 2.9%
Healthcare 2.4%
Financials 2.0%
Energy 1.8%
Consumer Staples 1.7%
Industrials 1.4%
Consumer products 1.1%
Retail 1.0%
Utilities 1.0%
Materials 0.9%
Consumer Discretionary 0.4%
Real Estate 0.3%
Other/Unmapped 76.4%

Full portfolio 195 positions

05
Type Streak 8Q trend
VTV VANGUARD INDEX FUNDS $346,274,425 13.21% 1,588,925 $27,312,673 Down ×1
IEFA iShares Trust $340,313,344 12.98% 3,523,642 $18,870,465 Down ×1
VUG VANGUARD INDEX FUNDS $310,058,088 11.83% 3,599,467 $44,454,824 Up ×3
QQQ Invesco QQQ Trust, Series 1 $261,776,209 9.98% 355,481 $54,554,160 Down ×1
RSP Invesco Exchange-Traded Fund Trust $128,655,424 4.91% 604,669 $10,767,796 Down ×1
VTI VANGUARD INDEX FUNDS $125,105,343 4.77% 338,086 $15,564,127 Down ×1
VOO VANGUARD INDEX FUNDS $103,092,242 3.93% 150,103 $14,278,983 Up ×1
SPYV SPDR SERIES TRUST $103,017,895 3.93% 1,694,652 $3,815,163 Down ×1
AGG iShares Trust $69,901,656 2.67% 706,220 $4,736,162 Up ×4
JAAA Janus Detroit Street Trust $46,358,807 1.77% 918,178 $22,299,073 Up ×3
VMBS Vanguard Mortgage-Backed Securities ETF $45,285,398 1.73% 967,430 $3,127,632 Up ×4
NVDA NVIDIA Corporation - Common Stock $37,555,292 1.43% 187,692 $5,025,158 Up ×4
BILS SPDR SERIES TRUST $35,980,032 1.37% 362,045 $-23,518,102 Down ×1
SPY SPY $19,617,648 0.75% 26,270 $2,769,290 Up ×1
BIL SPDR SERIES TRUST $17,978,577 0.69% 196,187 $-15,811,749 Down ×2
MSFT Microsoft Corporation - Common Stock $17,365,573 0.66% 46,554 $670,906 Up ×6
STX Seagate Technology Holdings PLC - Ordinary Shares (Ireland) $17,169,280 0.65% 17,792 $3,193,634 Down ×5
CSCO Cisco Systems, Inc. - Common Stock $16,932,564 0.65% 144,156 $5,663,082 Down ×3
AAPL Apple Inc. - Common Stock $16,536,056 0.63% 57,147 $2,549,182 Up ×1
HPE Hewlett Packard Enterprise Company Common Stock $16,449,542 0.63% 364,654 $8,209,615 Up ×3
AMZN Amazon.com, Inc. - Common Stock $15,972,832 0.61% 67,017 $2,358,014 Up ×2
IBM International Business Machines Corporation Common Stock $14,854,637 0.57% 52,824 $2,668,722 Up ×4
RIO Rio Tinto Plc Common Stock $14,579,919 0.56% 153,586 $620,470 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $14,559,611 0.56% 40,741 $2,915,156 Up ×1
CVX Chevron Corporation Common Stock $13,968,098 0.53% 84,267 $-3,089,772 Up ×1
ABBV AbbVie Inc. Common Stock $13,575,475 0.52% 53,948 $1,906,919 Up ×2
SO Southern Company (The) Common Stock $13,412,416 0.51% 140,136 $758,934 Up ×4
XOM Exxon Mobil Corporation Common Stock $13,079,592 0.50% 95,667 $-2,996,202 Up ×1
ADM Archer-Daniels-Midland Company Common Stock $12,862,704 0.49% 168,360 $996,498 Up ×2
GOOG Alphabet Inc. - Class C Capital Stock $12,368,317 0.47% 35,005 $2,796,086 Up ×1
TRP TC Energy Corporation Common Stock $12,267,296 0.47% 185,055 $944,646 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $12,264,513 0.47% 21,773 $75,283 Up ×6
AMGN Amgen Inc. - Common Stock $12,193,305 0.47% 33,672 $834,883 Up ×2
UPS United Parcel Service, Inc. Common Stock $12,137,933 0.46% 112,911 $1,304,328 Up ×1
PFE Pfizer, Inc. Common Stock $11,664,424 0.44% 484,403 $-1,613,541 Up ×2
KMB Kimberly-Clark Corporation - Common Stock $11,161,413 0.43% 101,680 $1,007,946 Down ×1
PRU Prudential Financial, Inc. Common Stock $11,016,739 0.42% 102,073 $1,562,789 Up ×2
PG Procter & Gamble Company (The) Common Stock $10,663,368 0.41% 72,718 $6,452,509 Up ×1
DUK Duke Energy Corporation (Holding Company) Common Stock $10,461,584 0.40% 82,648 $25,928 Up ×2
VZ Verizon Communications Inc. Common Stock $10,055,284 0.38% 237,489 $-2,308,424 Down ×2
GILD Gilead Sciences, Inc. - Common Stock $9,932,345 0.38% 78,616 $-751,341 Up ×2
ARCC Ares Capital Corporation - Closed End Fund $9,557,848 0.36% 515,804 $235,309 Down ×2
GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares) $9,500,287 0.36% 181,234 $-556,877 Down ×3
PEP PepsiCo, Inc. - Common Stock $9,226,020 0.35% 68,139 $-926,841 Up ×2
SWK Stanley Black & Decker, Inc. Common Stock $8,980,083 0.34% 95,411 Up ×1
KHC The Kraft Heinz Company - Common Stock $8,863,075 0.34% 375,236 $1,259,206 Up ×2
HPQ HP Inc. Common Stock $8,729,641 0.33% 397,887 Up ×1
KMI Kinder Morgan, Inc. Common Stock $8,449,511 0.32% 264,295 $-271,038 Up ×1
AVGO Broadcom Inc. - Common Stock $8,287,457 0.32% 21,939 $1,707,893 Up ×3
SWKS Skyworks Solutions, Inc. - Common Stock $8,115,321 0.31% 119,695 $2,671,000 Up ×1
IP International Paper Company Common Stock $7,505,509 0.29% 196,995 $7,135,657 Up ×2
JPM JP Morgan Chase & Co. Common Stock $7,272,618 0.28% 22,218 $1,183,212 Up ×3
BX Blackstone Inc. Common Stock $6,885,225 0.26% 58,513 $805,589 Up ×1
T AT&T Inc. $6,779,540 0.26% 327,514 $-2,690,305 Up ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $6,700,785 0.26% 14,031 $2,119,535 Up ×6
CCI Crown Castle Inc. Common Stock $6,370,635 0.24% 84,123 $365,566 Up ×2
AMD Advanced Micro Devices, Inc. - Common Stock $6,234,907 0.24% 10,733 $4,090,348 Up ×3
CLX Clorox Company (The) Common Stock $6,016,346 0.23% 63,038 Up ×1
V Visa Inc. $6,008,535 0.23% 17,513 $776,458 Up ×6
GIS General Mills, Inc. Common Stock $5,856,910 0.22% 168,302 $602,972 Up ×1
CAG ConAgra Brands, Inc. Common Stock $5,736,288 0.22% 426,173 $349,044 Up ×1
AAA INVESTMENT MANAGERS SERIES TRUST II $4,980,000 0.19% 200,000 Up ×1
TSLA Tesla, Inc. - Common Stock $4,715,767 0.18% 11,212 $574,472 Up ×2
VSDB VANGUARD MALVERN FUNDS $4,236,412 0.16% 55,494 Up ×1
MU Micron Technology, Inc. - Common Stock $4,190,073 0.16% 3,630 $2,980,606 Up ×1
MCD McDonald's Corporation Common Stock $3,348,600 0.13% 12,388 $-302,872 Up ×2
ORCL Oracle Corporation Common Stock $3,320,530 0.13% 22,658 $283,738 Up ×2
SPDW SPDR INDEX SHARES FUNDS $3,206,870 0.12% 63,641 $457,416 Up ×5
MA Mastercard Incorporated Common Stock $2,818,123 0.11% 5,487 $105,969 Up ×1
SPHQ Invesco Exchange-Traded Fund Trust $2,722,462 0.10% 30,216 $450,521
LLY Eli Lilly and Company Common Stock $2,704,715 0.10% 2,255 $607,639 Down ×2
AMAT Applied Materials, Inc. - Common Stock $2,641,842 0.10% 3,654 $1,396,701 Up ×1
SCHD SCHWAB STRATEGIC TRUST $2,594,227 0.10% 81,811 $511,055 Up ×1
UBER Uber Technologies, Inc. Common Stock $2,568,463 0.10% 35,594 $265,336 Up ×3
VEA VANGUARD TAX-MANAGED FUNDS $2,554,028 0.10% 35,846 $256,952 Down ×2
WMT Walmart Inc. - Common Stock $2,521,734 0.10% 22,265 $-138,479 Up ×3
JEPI J.P. Morgan Exchange-Traded Fund Trust $2,460,099 0.09% 43,557 $-4,971 Up ×5
COST Costco Wholesale Corporation - Common Stock $2,400,416 0.09% 2,566 $-109,591 Up ×3
KO Coca-Cola Company (The) Common Stock $2,385,356 0.09% 29,351 $146,444 Down ×1
HD Home Depot, Inc. (The) Common Stock $2,286,072 0.09% 6,482 $234,127 Up ×6
LOW Lowe's Companies, Inc. Common Stock $2,116,043 0.08% 9,597 $-104,280 Up ×6
CAT Caterpillar, Inc. Common Stock $1,986,039 0.08% 1,865 $672,554 Up ×1
DFUS Dimensional ETF Trust $1,945,993 0.07% 23,749 $256,562 Down ×5
INTC Intel Corporation - Common Stock $1,880,816 0.07% 13,470 $1,290,621 Up ×1
IVV iShares Trust $1,810,816 0.07% 2,418 $1,435,873 Up ×1
CMG Chipotle Mexican Grill, Inc. Common Stock $1,586,950 0.06% 46,675 $118,779 Up ×2
NFLX Netflix, Inc. - Common Stock $1,572,442 0.06% 22,023 $-514,878 Up ×3
ANET Arista Networks, Inc. Common Stock $1,511,762 0.06% 8,899 $426,878 Up ×4
ADI Analog Devices, Inc. - Common Stock $1,502,891 0.06% 3,784 $246,874 Down ×6
VYM VANGUARD WHITEHALL FUNDS $1,479,951 0.06% 9,365 $4,727 Down ×3
ESGV VANGUARD WORLD FUND $1,477,253 0.06% 11,171 $215,226 Down ×1
IRT Independence Realty Trust, Inc. Common Stock $1,468,820 0.06% 88,006 $158,411
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,335,541 0.05% 2,669 $-885,551 Down ×2
JNJ Johnson & Johnson Common Stock $1,281,533 0.05% 5,046 $6,045 Down ×1
AXP American Express Company Common Stock $1,233,936 0.05% 3,648 $148,638 Up ×3
VGT VANGUARD WORLD FUND $1,224,841 0.05% 10,248 $331,062 Up ×1
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $1,204,235 0.05% 1,578 $628,771 Up ×2
FDL First Trust Exchange-Traded Fund $1,182,535 0.05% 24,302 $472,859 Up ×1
MMM 3M Company Common Stock $1,174,819 0.04% 7,256 $110,719 Down ×4
BAC Bank of America Corporation Common Stock $1,167,862 0.04% 20,496 $168,048 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
VUG $310,058,088 11.83% up ×3
AGG $69,901,656 2.67% up ×4
JAAA $46,358,807 1.77% up ×3
VMBS $45,285,398 1.73% up ×4
NVDA $37,555,292 1.43% up ×4
MSFT $17,365,573 0.66% up ×6
HPE $16,449,542 0.63% up ×3
IBM $14,854,637 0.57% up ×4
SO $13,412,416 0.51% up ×4
META $12,264,513 0.47% up ×6
AVGO $8,287,457 0.32% up ×3
JPM $7,272,618 0.28% up ×3
TSM $6,700,785 0.26% up ×6
AMD $6,234,907 0.24% up ×3
V $6,008,535 0.23% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
SWK $8,980,083 95,411 0.34%
HPQ $8,729,641 397,887 0.33%
CLX $6,016,346 63,038 0.23%
AAA $4,980,000 200,000 0.19%
VSDB $4,236,412 55,494 0.16%
GE $602,453 1,612 0.02%
GEV $484,042 412 0.02%
LRCX $462,796 1,068 0.02%
SNDK $393,355 173 0.02%
MUB $356,653 3,314 0.01%
WDC $347,464 544 0.01%
PANW $328,402 963 0.01%
INV $315,471 62,223 0.01%
FTMN $261,563 29,335 0.01%
GLW $218,137 854 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
QQQ Trimmed -4K +$54.6M
VUG Bought more +3.0M +$44.5M
VTV Trimmed -37K +$27.3M
BILS Trimmed -236K -$23.5M
JAAA Bought more +441K +$22.3M
IEFA Trimmed -27K +$18.9M
BIL Trimmed -173K -$15.8M
VTI Trimmed -3K +$15.6M
VOO Bought more +1K +$14.3M
RSP Trimmed -10K +$10.8M

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
IJH June 30, 2025 662,366 $38,649,057 17.7%
IJR June 30, 2025 138,411 $14,473,638 26.5%
HBAN March 31, 2026 519,395 $9,011,503 -2.0%
DOW June 30, 2026 215,197 $8,962,955 2.2%
VTRS June 30, 2026 535,974 $7,241,009 10.8%
UL (filed as ULXXXX) Dec. 31, 2025 102,137 $6,054,682 -8.7%
BXSL June 30, 2026 232,851 $5,516,240 -0.4%
EXR Dec. 31, 2025 24,375 $3,435,413 2.3%
AFL Dec. 31, 2025 20,027 $2,237,016 1.2%
PSA Dec. 31, 2025 7,406 $2,139,223 9.4%
WM Dec. 31, 2025 9,559 $2,110,914 -6.9%
SHV March 31, 2026 15,497 $1,706,995
TYL March 31, 2026 1,720 $780,794 -5.7%
HES Sept. 30, 2025 5,567 $771,252 No longer tracked
PECO Sept. 30, 2025 20,495 $717,940 10.0%
QCOM Sept. 30, 2025 3,961 $630,829 11.1%
ANSS Sept. 30, 2025 1,789 $628,333 No longer tracked
EXAS March 31, 2026 5,970 $606,313 No longer tracked
SUSA Sept. 30, 2025 4,715 $597,626
ITOT Sept. 30, 2025 4,370 $590,125 15.5%
PALL Dec. 31, 2025 5,000 $570,850 -26.9%
AAAU Sept. 30, 2025 17,268 $564,318
ESGD Sept. 30, 2025 6,199 $553,075
HON June 30, 2026 2,409 $544,506 -4.4%
SLV Dec. 31, 2025 12,550 $531,744 -15.0%
ADBE June 30, 2025 1,351 $518,149 -38.6%
BND Sept. 30, 2025 6,369 $468,949
NOW June 30, 2026 4,340 $453,747 35.4%
FICO March 31, 2026 225 $380,390 -38.1%
CTVA Dec. 31, 2025 5,231 $353,773 -82.2%
DD Dec. 31, 2025 4,491 $349,849 223.3%
PSX June 30, 2025 2,644 $326,481 121.8%
HSY June 30, 2026 1,371 $285,017 -8.7%
CMCSA Dec. 31, 2025 8,794 $276,307 -23.0%
ROL June 30, 2026 5,163 $275,756 -27.7%
ACN June 30, 2026 1,352 $268,088 59.8%
CSGP March 31, 2026 3,962 $266,405 -32.1%
SNPS Dec. 31, 2025 535 $263,964 4.3%
MDT Sept. 30, 2025 2,943 $256,541 -9.3%
OEF Sept. 30, 2025 822 $250,176
DFS June 30, 2025 1,408 $240,346 No longer tracked
BSV June 30, 2026 3,049 $239,072
WFC March 31, 2026 2,563 $238,872 1.1%
MSI Dec. 31, 2025 521 $238,248 16.7%
AFIF June 30, 2026 25,387 $236,490
REGN June 30, 2026 301 $232,565 17.9%
C Sept. 30, 2025 2,671 $227,356 26.6%
QUAL Sept. 30, 2025 1,239 $226,514
MCK June 30, 2026 261 $225,859 19.4%
DIS March 31, 2026 1,965 $223,558 6.0%
PANW March 31, 2026 1,200 $221,040 151.5%
WST March 31, 2026 774 $212,958 45.6%
TTD Dec. 31, 2025 4,333 $212,360 -68.5%
ADP March 31, 2026 815 $209,642 26.8%
VEEV June 30, 2026 1,179 $207,103 54.0%
SPGI June 30, 2026 481 $204,589 0.3%
VMC March 31, 2026 717 $204,503 -10.7%
VHT March 31, 2026 710 $204,374
OEF March 31, 2026 595 $204,067
INTU March 31, 2026 304 $201,376 -35.0%
WST June 30, 2025 897 $200,820 66.8%
NINEQ Dec. 31, 2025 37,258 $23,543 No longer tracked