Sector breakdown

04
Financials 47.6%
Industrials 8.3%
Technology 7.4%
Communication Services 4.0%
Retail 2.1%
Healthcare 2.1%
Utilities 1.2%
Energy 1.0%
Consumer Discretionary 0.5%
Real Estate 0.3%
Consumer Staples 0.2%
Consumer products 0.1%
Materials 0.1%
Other/Unmapped 25.2%

Full portfolio 283 positions

05
Type Streak 8Q trend
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $211,924,572 40.67% 283 $3,663,950 Down ×4
VOO Vanguard S&P 500 ETF $30,734,748 5.90% 44,750 $3,994,385
BE Bloom Energy Corporation Class A Common Stock $19,870,742 3.81% 65,645 $10,227,648 Down ×3
GOOG Alphabet Inc. - Class C Capital Stock $12,453,116 2.39% 35,245 $1,826,387 Down ×2
EFA iShares Trust $12,013,618 2.31% 115,649 $780,631
GLD SPDR Gold Shares $11,226,104 2.15% 30,474 $-2,245,934 Down ×2
MSFT Microsoft Corporation - Common Stock $8,787,321 1.69% 23,557 $-43,882 Down ×3
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $8,729,303 1.68% 17,445 $-1,451,301 Down ×1
XLK SELECT SECTOR SPDR TRUST $8,091,956 1.55% 42,473 $2,485,038 Up ×4
NVDA NVIDIA Corporation - Common Stock $7,711,342 1.48% 38,539 $1,181,968 Up ×6
AMZN Amazon.com, Inc. - Common Stock $7,614,977 1.46% 31,950 $714,979 Down ×1
XLI SELECT SECTOR SPDR TRUST $7,505,149 1.44% 40,518 $990,826 Up ×4
IWM iShares Russell 2000 Index Fund $7,334,285 1.41% 24,411 $1,280,357
QXO QXO, Inc. Common Stock $6,938,559 1.33% 401,537 $-630,134 Up ×5
SLV iShares Silver Trust $6,322,154 1.21% 118,237 $-1,707,287 Up ×1
JPM JP Morgan Chase & Co. Common Stock $5,921,072 1.14% 18,089 $423,516 Down ×2
AAPL Apple Inc. - Common Stock $5,850,150 1.12% 20,218 $-394,895 Down ×5
AVGO Broadcom Inc. - Common Stock $5,745,578 1.10% 15,210 $728,421 Down ×1
V Visa Inc. $5,584,289 1.07% 16,276 $513,780 Down ×1
XLE SELECT SECTOR SPDR TRUST $5,261,092 1.01% 99,060 $-739,036 Up ×3
AGG iShares Trust $4,820,326 0.93% 48,700 $-14,123
GOOGL Alphabet Inc. - Class A Common Stock $4,552,295 0.87% 12,738 $573,030 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $4,420,144 0.85% 7,609 $2,485,728 Down ×4
XLU XLU $3,676,031 0.71% 81,077 $4,831 Up ×4
XLC SELECT SECTOR SPDR TRUST $3,502,615 0.67% 32,695 $-87,919 Up ×4
XLV SELECT SECTOR SPDR TRUST $3,212,152 0.62% 20,246 $404,148 Up ×2
DHR Danaher Corporation Common Stock $3,038,156 0.58% 15,950 $-23,884 Down ×1
CEG Constellation Energy Corporation - Common Stock When-Issued $3,013,970 0.58% 12,135 $911,217 Up ×1
XLB XLB $2,808,866 0.54% 55,260 $65,313 Up ×3
PWR Quanta Services, Inc. Common Stock $2,520,140 0.48% 3,500 $598,570
EEM iShares, Inc. $2,359,119 0.45% 34,485 $400,716
IYR iShares U.S. Real Estate ETF $2,293,672 0.44% 22,432 $224,321 Up ×4
ETN Eaton Corporation, PLC Ordinary Shares $2,194,518 0.42% 5,150 $352,517
BX Blackstone Inc. Common Stock $2,130,062 0.41% 18,102 $157,754 Up ×2
WM Waste Management, Inc. Common Stock $2,049,092 0.39% 9,194 $-178,408 Down ×1
UBER Uber Technologies, Inc. Common Stock $1,950,485 0.37% 27,030 $29,954 Up ×1
JNJ Johnson & Johnson Common Stock $1,796,838 0.34% 7,075 $67,425
GLW Corning Incorporated Common Stock $1,788,010 0.34% 7,000 $836,220
FTEC FIDELITY COVINGTON TRUST $1,712,052 0.33% 5,995 $433,585 Down ×1
IBB iShares Trust $1,656,785 0.32% 8,711 $-25,165 Down ×1
DMLP Dorchester Minerals, L.P. - Common Units Representing Limited Partnership Interests $1,639,230 0.31% 64,920 $-168,747 Down ×2
NEE NextEra Energy, Inc. Common Stock $1,611,721 0.31% 18,363 $-93,834
LOW Lowe's Companies, Inc. Common Stock $1,584,221 0.30% 7,185 $-113,451
Unknown issuer (CUSIP: 74768A104) $1,530,582 0.29% 18,725 Up ×1
FAST Fastenal Company - Common Stock $1,496,135 0.29% 31,150 $50,775
TSLA Tesla, Inc. - Common Stock $1,476,727 0.28% 3,511 $169,654 Down ×1
MS Morgan Stanley Common Stock $1,405,794 0.27% 6,725 $299,061
Unknown issuer (CUSIP: E6165F166) $1,323,968 0.25% 53,023 $117,684
HBAN Huntington Bancshares Incorporated - Common Stock $1,242,997 0.24% 70,107 $145,822
GBTC Grayscale Bitcoin Trust (BTC) $1,238,144 0.24% 27,200 $-196,928
PNC PNC Financial Services Group, Inc. (The) Common Stock $1,231,100 0.24% 5,000 $190,650
NOW ServiceNow, Inc. Common Stock $1,207,245 0.23% 12,160
BLK BlackRock, Inc. Common Stock $1,169,257 0.22% 1,216 $-182
AON Aon plc Class A Ordinary Shares (Ireland) $1,160,915 0.22% 3,500 $31,185
CSCO Cisco Systems, Inc. - Common Stock $1,143,825 0.22% 9,738 $388,254
TMO Thermo Fisher Scientific Inc Common Stock $1,138,589 0.22% 2,271 $22,324
XLP XLP $1,121,846 0.22% 13,505 $815,241 Up ×2
SPOT Spotify Technology S.A. Ordinary Shares $1,102,371 0.21% 2,401 $-61,898
PPH VanEck ETF Trust $1,093,500 0.21% 10,000 $54,700
AMRZ Amrize Ltd Ordinary Shares $1,093,450 0.21% 20,515 $3,021 Up ×1
FSLR First Solar, Inc. - Common Stock $1,061,820 0.20% 4,500 $174,150
XBI SPDR SERIES TRUST $1,051,571 0.20% 6,645 $202,805
LLY Eli Lilly and Company Common Stock $1,047,376 0.20% 873 $-1,043,432 Down ×1
GH Guardant Health, Inc. - Common Stock $1,017,203 0.20% 6,780 $390,934
SPY SPY $1,000,672 0.19% 1,340 $129,216
ASML ASML Holding N.V. - New York Registry Shares $895,248 0.17% 450 $300,874
PSTL Postal Realty Trust, Inc. Class A Common Stock $863,238 0.17% 35,034 $213,007
Unknown issuer (CUSIP: 438516205) $799,099 0.15% 3,569 Up ×1
Unknown issuer (CUSIP: 43849R105) $788,813 0.15% 3,568 Up ×1
TRIN Trinity Capital Inc. - Common Stock $786,355 0.15% 43,955 $-665,743 Down ×1
EPD Enterprise Products Partners L.P. Common Stock $784,826 0.15% 21,350 $-23,058
GS Goldman Sachs Group, Inc. (The) Common Stock $783,812 0.15% 775 $128,170
CMS CMS Energy Corporation Common Stock $765,000 0.15% 10,000 $-10,800
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $763,140 0.15% 1,000 $372,730
MRK Merck & Company, Inc. Common Stock (new) $757,893 0.15% 5,898 $48,423
TJX TJX Companies, Inc. (The) Common Stock $757,500 0.15% 5,000 $-41,000
IVV iShares Trust $744,397 0.14% 994 $448,493 Up ×1
TSLX Sixth Street Specialty Lending, Inc. Common Stock $684,482 0.13% 39,865 $-138,299 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $674,951 0.13% 1,198 $-10,571
VRT Vertiv Holdings, LLC Class A Common Stock $669,640 0.13% 2,000 $168,480
Unknown issuer (CUSIP: F7782J366) $655,283 0.13% 15,000 $164,464 Up ×1
F Ford Motor Company Common Stock $635,207 0.12% 45,698 $-7,502 Down ×1
WSBC WesBanco, Inc. - Common Stock $615,191 0.12% 15,762 $71,560
BIP Brookfield Infrastructure Partners LP Limited Partnership Units $596,612 0.11% 16,350 $6,050
BBT Beacon Financial Corporation Common stock $589,512 0.11% 19,360 $8,712
PEP PepsiCo, Inc. - Common Stock $549,859 0.11% 4,061 $-80,774
NFLX Netflix, Inc. - Common Stock $533,358 0.10% 7,470 $-406,028 Down ×1
ORCL Oracle Corporation Common Stock $525,382 0.10% 3,585 $-2,007
CCJ Cameco Corporation Common Stock $509,300 0.10% 5,000 $-33,750
CVX Chevron Corporation Common Stock $486,837 0.09% 2,937 $-120,828
ET Energy Transfer LP Common Units $458,880 0.09% 24,000 $-4,320
IBM International Business Machines Corporation Common Stock $455,841 0.09% 1,621 $62,927
BGC BGC Group, Inc. - Class A Common Stock $450,851 0.09% 42,175 $-44,115 Down ×1
AB AllianceBernstein Holding L.P. Units $450,816 0.09% 12,800 $-28,416
HD Home Depot, Inc. (The) Common Stock $393,238 0.08% 1,115 $26,526
ARCC Ares Capital Corporation - Closed End Fund $389,130 0.07% 21,000 $-144,983 Down ×1
CARR Carrier Global Corporation Common Stock $366,750 0.07% 5,000 $85,200
NTIP CUSIP: 64121N109 $361,139 0.07% 245,673 $-43,124 Down ×1
RKT Rocket Companies, Inc. Class A Common Stock $351,225 0.07% 22,300 $-2,012,565 Down ×1
XLF SELECT SECTOR SPDR TRUST $338,601 0.06% 6,316 $26,780

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
XLK $8,091,956 1.55% up ×4
NVDA $7,711,342 1.48% up ×6
XLI $7,505,149 1.44% up ×4
QXO $6,938,559 1.33% up ×5
XLE $5,261,092 1.01% up ×3
XLU $3,676,031 0.71% up ×4
XLC $3,502,615 0.67% up ×4
XLB $2,808,866 0.54% up ×3
IYR $2,293,672 0.44% up ×4
HBCP $150,876 0.03% up ×3
GNL $25,638 0.00% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 74768A104) $1,530,582 18,725 0.29%
NOW $1,207,245 12,160 0.23%
Unknown issuer (CUSIP: 438516205) $799,099 3,569 0.15%
Unknown issuer (CUSIP: 43849R105) $788,813 3,568 0.15%
IEI $184,514 1,571 0.04%
FIGR $184,260 6,000 0.04%
Unknown issuer (CUSIP: 30233Q108) $183,888 1,345 0.04%
STIP $178,065 1,743 0.03%
Unknown issuer (CUSIP: 84615Q103) $172,569 1,010 0.03%
INCY $170,040 1,500 0.03%
ILMN $158,247 900 0.03%
NBIX $151,682 900 0.03%
IEFA $144,677 1,498 0.03%
CHRS $81,522 58,230 0.02%
SSG $68,160 6,000 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
BE Trimmed -6K +$10.2M
VOO Price move only +0 +$4.0M
BRK-A (filed as BRKA) Trimmed -7 +$3.7M
AMD Trimmed -2K +$2.5M
XLK Bought more +284 +$2.5M
GLD Trimmed -835 -$2.2M
GOOG Trimmed -2K +$1.8M
SLV Bought more +400 -$1.7M
BRK-B (filed as BRKB) Trimmed -4K -$1.5M
IWM Price move only +0 +$1.3M

2 positions 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
FLUT Dec. 31, 2025 10,465 $2,658,000 -64.5%
HON June 30, 2026 5,235 $1,183,267 -4.9%
NVR Dec. 31, 2025 125 $1,004,000 -17.1%
ACT March 31, 2026 22,490 $891,504 13.5%
RMD June 30, 2026 3,200 $718,336 13.2%
LIN Dec. 31, 2025 1,400 $665,000 14.9%
ULTA Dec. 31, 2025 1,120 $612,000 -9.5%
GLDD June 30, 2026 35,000 $595,000 No longer tracked
VMI Dec. 31, 2025 1,350 $523,000 21.0%
PLD June 30, 2026 3,700 $489,066 -5.0%
AMT Dec. 31, 2025 2,400 $462,000 -6.1%
AVB Dec. 31, 2025 2,300 $444,000 No longer tracked
PANW March 31, 2026 2,400 $442,080 161.9%
ACRE June 30, 2026 88,915 $426,792 -16.7%
BCSF Dec. 31, 2025 27,375 $390,000 -22.2%
SQQQ Dec. 31, 2025 23,400 $356,000
AUR Dec. 31, 2025 61,700 $333,000 49.7%
PYPL Dec. 31, 2025 4,665 $313,000 -6.5%
XOM June 30, 2026 1,345 $228,193 20.3%
IOT Dec. 31, 2025 5,000 $186,000 17.7%
LKQ Dec. 31, 2025 6,000 $183,000 -25.9%
NVEC March 31, 2026 2,950 $175,024 77.9%
ADSK June 30, 2026 585 $140,049 19.0%
BIPC Dec. 31, 2025 3,000 $123,000 -16.9%
CRMLW Dec. 31, 2025 58,500 $123,000
SPYV March 31, 2026 2,160 $122,710 9.6%
PCOR June 30, 2026 2,132 $121,524 33.9%
TEM March 31, 2026 2,036 $120,226 59.2%
XME March 31, 2026 1,110 $115,007 0.2%
FISV March 31, 2026 1,570 $105,457 -18.5%
VXX March 31, 2026 3,900 $103,233 -53.1%
GRAL March 31, 2026 1,170 $100,140 165.6%
SOLS March 31, 2026 2,049 $99,540 -19.6%
BLBX March 31, 2026 11,700 $94,712 No longer tracked
FORA March 31, 2026 44,000 $93,280 No longer tracked
SBIT March 31, 2026 1,950 $85,644 -47.2%
NILIF Dec. 31, 2025 410,000 $84,000 No longer tracked
OCSL March 31, 2026 6,370 $81,154 3.5%
ALOY June 30, 2026 7,800 $76,128 -43.8%
NILIF June 30, 2026 156,000 $65,395 No longer tracked
EEMMF June 30, 2026 78,000 $58,126 No longer tracked
VGK March 31, 2026 654 $54,681
CINF March 31, 2026 325 $53,079 3.6%
PLTD March 31, 2026 7,800 $51,402
BKNG June 30, 2026 10 $42,103 -11.6%
TLT June 30, 2026 462 $40,051
VWO March 31, 2026 691 $37,148 12.2%
NU June 30, 2026 2,007 $28,841 17.2%
NOW Dec. 31, 2025 30 $28,000 -9.9%
BSX March 31, 2026 265 $25,268 -32.8%
NKE June 30, 2026 463 $24,456 -15.7%
ACN June 30, 2026 120 $23,795 55.4%
JOBY March 31, 2026 1,800 $23,760 -30.0%
ADBE March 31, 2026 67 $23,449 -2.0%
A March 31, 2026 165 $22,452 48.6%
CHYM March 31, 2026 891 $22,426 47.6%
TTEK March 31, 2026 645 $21,633 10.8%
CCI June 30, 2026 250 $20,328 -9.8%
ITM March 31, 2026 431 $20,326 -5.3%
VPL March 31, 2026 224 $20,250
ENB Dec. 31, 2025 400 $20,000 -2.7%
NVS Dec. 31, 2025 159 $20,000 2.1%
BRKL Sept. 30, 2025 170,820 $1,802 No longer tracked
NOK Sept. 30, 2025 130,700 $677 128.1%
TYL June 30, 2025 725 $422 -44.2%
GTLS June 30, 2025 2,600 $375 No longer tracked
TOST Sept. 30, 2025 8,113 $359 -17.1%
APD June 30, 2025 1,200 $354 -0.4%
OBDC June 30, 2025 23,640 $347 -30.1%
TGTX Sept. 30, 2025 8,600 $310 44.5%
FSK Sept. 30, 2025 12,000 $249 -27.6%
LB Sept. 30, 2025 3,210 $217 60.5%
GSBD Sept. 30, 2025 19,110 $215 -11.2%
CGBD June 30, 2025 9,795 $158 -23.2%
CPNG Sept. 30, 2025 4,000 $120 -55.2%
TNA June 30, 2025 4,100 $120 78.1%
PAGS Sept. 30, 2025 12,300 $119 7.2%
TQQQ June 30, 2025 2,061 $118
KWEB June 30, 2025 3,000 $105
TROW Sept. 30, 2025 1,050 $101 0.9%
KKR June 30, 2025 800 $92 -31.8%
FTNT June 30, 2025 820 $79 80.9%
DNN Sept. 30, 2025 41,000 $75 No longer tracked
AESI June 30, 2025 4,100 $73 -4.9%
HES Sept. 30, 2025 477 $66 No longer tracked
RWAY June 30, 2025 6,105 $63 -40.6%
NXE Sept. 30, 2025 8,200 $57 5.4%
MC Sept. 30, 2025 820 $51 -21.4%
VBNK June 30, 2025 4,875 $51 95.4%
CP Sept. 30, 2025 625 $50 14.7%
RDDT June 30, 2025 410 $43 -1.1%
BOH June 30, 2025 500 $34 -0.3%
VWO June 30, 2025 738 $33 22.6%
VTEB June 30, 2025 612 $30
CMG Sept. 30, 2025 500 $28 -21.2%
GIS June 30, 2025 380 $23 -37.9%
ACHR Sept. 30, 2025 2,000 $22 -51.5%
KMB June 30, 2025 142 $20 -24.9%
NGG Sept. 30, 2025 275 $20 5.8%