Sector breakdown

04
Real Estate 12.3%
Retail 5.8%
Technology 5.6%
Industrials 5.5%
Healthcare 5.3%
Financials 4.0%
Consumer Staples 2.7%
Communication Services 2.2%
Utilities 2.0%
Energy 1.5%
Consumer products 1.0%
Consumer Discretionary 0.6%
Other/Unmapped 51.4%

Full portfolio 241 positions

05
Type Streak 8Q trend
VTI VANGUARD INDEX FUNDS $15,583,184 6.85% 41,812 $873,688 Up ×6
PFF iShares Preferred and Income Securities ETF $5,828,132 2.56% 190,836 $-1,534,313 Down ×1
LLY Eli Lilly and Company Common Stock $5,610,418 2.47% 4,720 $1,385,027 Down ×4
MO Altria Group, Inc. $4,967,405 2.18% 69,193 $489,514 Up ×5
AMZN Amazon.com, Inc. - Common Stock $4,686,975 2.06% 19,104 $-267,589 Up ×1
DIVO Amplify ETF Trust $4,446,268 1.95% 95,701 $94,606 Up ×6
AAPL Apple Inc. - Common Stock $4,201,450 1.85% 13,324 $527,986 Down ×1
PFXF VanEck ETF Trust $4,158,021 1.83% 233,334 $-875,267 Down ×1
IVW iShares Trust $3,848,550 1.69% 27,769 $649,017 Up ×2
BND Vanguard Total Bond Market ETF $3,697,611 1.63% 50,812 $-150,372 Down ×1
CTRE CareTrust REIT, Inc. Common Stock $3,524,515 1.55% 87,630 $345,400 Up ×2
UPS United Parcel Service, Inc. Common Stock $3,472,780 1.53% 30,877 $-191,562 Down ×1
FNDF SCHWAB STRATEGIC TRUST $3,184,676 1.40% 59,975 $158,866 Up ×5
HD Home Depot, Inc. (The) Common Stock $3,139,578 1.38% 9,145 $99,369 Up ×3
IMCG iShares Trust $2,973,543 1.31% 30,581 $242,596 Down ×1
O Realty Income Corporation Common Stock $2,963,055 1.30% 46,802 $-19,148 Down ×3
NVDA NVIDIA Corporation - Common Stock $2,922,258 1.28% 13,852 $-3,382 Down ×4
IVE iShares Trust $2,915,688 1.28% 12,649 $358,907 Up ×6
SLYG SPDR SERIES TRUST $2,800,395 1.23% 24,077 $161,977 Down ×1
WPC W. P. Carey Inc. REIT $2,711,695 1.19% 37,841 $-61,070 Down ×6
IUSB iShares Core Universal USD Bond ETF $2,642,491 1.16% 57,772 $2,099 Up ×4
SO Southern Company (The) Common Stock $2,599,880 1.14% 27,192 $104,325 Up ×6
SPSB SPDR SERIES TRUST $2,556,999 1.12% 85,547 $6,133 Up ×4
FHN First Horizon Corporation Common Stock $2,547,745 1.12% 98,980 $-126,443 Down ×5
PMMF iShares Prime Money Market ETF $2,401,706 1.06% 23,950 $965,955 Up ×1
Unknown issuer (CUSIP: 30233Q108) $2,353,839 1.03% 16,948 Up ×1
PJUL Innovator U.S. Equity Power Buffer ETF - July $2,301,627 1.01% 46,862 $327,392 Up ×1
IJT iShares S&P SmallCap 600 Growth ETF $2,138,906 0.94% 12,272 $381,747 Up ×4
IVV iShares Trust $2,064,829 0.91% 2,723 $135,333 Up ×1
PG Procter & Gamble Company (The) Common Stock $2,041,164 0.90% 13,881 $-42,300 Down ×1
MSFT Microsoft Corporation - Common Stock $2,035,168 0.89% 5,284 $672,192 Up ×1
VGT VANGUARD WORLD FUND $2,033,649 0.89% 17,222 $228,255 Down ×1
JPM JP Morgan Chase & Co. Common Stock $2,025,676 0.89% 6,020 $156,046 Down ×6
JNJ Johnson & Johnson Common Stock $1,935,218 0.85% 7,530 $248,573 Up ×4
FLXR TCW Flexible Income ETF $1,796,581 0.79% 46,078 $-2,039,182 Down ×3
GEV GE Vernova Inc. Common Stock $1,704,171 0.75% 1,561 $-19,860 Up ×1
SCHD SCHWAB STRATEGIC TRUST $1,702,326 0.75% 52,540 $71,175 Up ×2
RITM Rithm Capital Corp. Common Stock $1,696,901 0.75% 184,847 $-188,880 Down ×3
MRK Merck & Company, Inc. Common Stock (new) $1,695,044 0.74% 13,720 $216,114 Up ×2
XLK SELECT SECTOR SPDR TRUST $1,626,672 0.71% 8,755 $260,166 Up ×6
GOOGL Alphabet Inc. - Class A Common Stock $1,622,270 0.71% 4,541 $51,747 Down ×2
VOO VANGUARD INDEX FUNDS $1,613,113 0.71% 2,324 $68,010 Down ×2
RTX RTX Corporation Common Stock $1,501,814 0.66% 7,665 $199,911 Up ×2
SCHG SCHWAB STRATEGIC TRUST $1,496,722 0.66% 43,195 $102,802 Up ×3
RYN Rayonier Inc. REIT Common Stock $1,391,290 0.61% 65,410 $3,165 Up ×1
CAT Caterpillar, Inc. Common Stock $1,391,065 0.61% 1,460 $185,943 Up ×1
NSC Norfolk Southern Corporation Common Stock $1,376,461 0.60% 4,203 $2,703 Down ×6
WMT Walmart Inc. - Common Stock $1,289,065 0.57% 11,317 $226,022 Up ×2
LTC LTC Properties, Inc. Common Stock $1,241,246 0.55% 31,941 $66,036 Up ×4
TRNO Terreno Realty Corporation Common Stock $1,221,974 0.54% 17,607 $68,161 Down ×2
VTWO Vanguard Russell 2000 ETF $1,221,793 0.54% 10,213 $116,244 Up ×3
VIGI Vanguard International Dividend Appreciation ETF $1,183,628 0.52% 12,467 $101,042 Up ×2
PJAN Innovator U.S. Equity Power Buffer ETF - January $1,136,721 0.50% 22,812 $34,549 Up ×1
Unknown issuer (CUSIP: 77926Y708) $1,110,801 0.49% 43,323 Up ×1
ETN Eaton Corporation, PLC Ordinary Shares $1,097,212 0.48% 2,694
PSI Invesco Exchange-Traded Fund Trust $1,088,849 0.48% 6,830 $194,879 Up ×6
AZO AutoZone, Inc. Common Stock $1,084,641 0.48% 353 $469,241 Up ×5
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,068,388 0.47% 2,164 $58,412 Up ×3
FVD First Trust Exchange-Traded Fund $1,054,629 0.46% 21,527 $12,156 Down ×4
SCHF SCHWAB STRATEGIC TRUST $1,022,945 0.45% 37,130 $469,567 Up ×1
ET Energy Transfer LP Common Units $1,009,927 0.44% 51,369 $218,708 Up ×2
WELL Welltower Inc. Common Stock $1,009,812 0.44% 4,360 $62,367 Down ×3
PLD Prologis, Inc. Common Stock $976,274 0.43% 6,930 $-264,753 Down ×4
LMT Lockheed Martin Corporation Common Stock $928,192 0.41% 1,774 $91,782 Up ×1
SUI Sun Communities, Inc. Common Stock $922,830 0.41% 7,762 $-169,701 Down ×4
XHB SPDR SERIES TRUST $910,129 0.40% 8,379 $40,601 Up ×2
CASY Caseys General Stores, Inc. - Common Stock $895,254 0.39% 1,092 $37,337 Up ×4
EXR Extra Space Storage Inc Common Stock $884,079 0.39% 6,141 $8,515 Down ×1
DUK Duke Energy Corporation (Holding Company) Common Stock $871,188 0.38% 6,942 $-7,763 Up ×6
GOOG Alphabet Inc. - Class C Capital Stock $864,057 0.38% 2,433 $-62,454 Down ×1
CVX Chevron Corporation Common Stock $853,956 0.38% 4,841 $-117,953 Down ×2
FRDM EA Series Trust $845,130 0.37% 12,114 $402,742 Up ×2
COST Costco Wholesale Corporation - Common Stock $826,457 0.36% 902 $-152,336 Down ×1
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund $814,722 0.36% 4,407 $187,887 Up ×2
ELS Equity Lifestyle Properties, Inc. Common Stock $803,673 0.35% 12,662 $-24,163 Down ×6
ACN Accenture plc Class A Ordinary Shares (Ireland) $798,397 0.35% 5,904 Up ×1
INVH Invitation Homes Inc. Common Stock $795,508 0.35% 26,875 $215,244 Up ×2
VZ Verizon Communications Inc. Common Stock $768,852 0.34% 18,253 $192,810 Up ×1
SCHY SCHWAB STRATEGIC TRUST $765,559 0.34% 23,864 $-69,435 Down ×1
FTCS First Trust Capital Strength ETF $761,922 0.33% 7,886 $25,999 Down ×2
BIL SPDR SERIES TRUST $760,066 0.33% 8,309 $275,830 Up ×2
KO Coca-Cola Company (The) Common Stock $758,804 0.33% 9,088 $96,793 Up ×3
OEF iShares Trust $725,444 0.32% 1,948 $62,324 Up ×1
PMAR Innovator U.S. Equity Power Buffer ETF - March $720,905 0.32% 14,997 $20,846
T AT&T Inc. $719,304 0.32% 34,041 $-177,212 Down ×3
IWP iShares Trust $712,991 0.31% 5,001 $-37,337 Down ×2
C Citigroup, Inc. Common Stock $699,726 0.31% 4,970 $-76,088 Down ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $693,266 0.30% 1,596 $74,845 Up ×1
ADC Agree Realty Corporation Common Stock $677,535 0.30% 8,691 $5,430 Down ×1
DLR Digital Realty Trust, Inc. Common Stock $667,167 0.29% 3,698 $-78,606 Down ×1
LADR Ladder Capital Corp Class A Common Stock $666,205 0.29% 67,635 $-33,147
FR First Industrial Realty Trust, Inc. Common Stock $660,909 0.29% 10,166 $42,221 Up ×2
TBIL F/m US Treasury 3 Month Bill Fund $642,649 0.28% 12,871 $-247,822 Down ×1
VUG VANGUARD INDEX FUNDS $633,986 0.28% 7,253 $89,453 Up ×3
VYM VANGUARD WHITEHALL FUNDS $621,729 0.27% 3,860 $33,856 Up ×1
CPT Camden Property Trust Common Stock $609,291 0.27% 5,393 $28,873 Down ×6
XLP XLP $607,987 0.27% 7,227 $266,705 Up ×2
META Meta Platforms, Inc. - Class A Common Stock $597,210 0.26% 892 $3,248 Up ×1
AXP American Express Company Common Stock $592,480 0.26% 1,690 $174,126 Up ×2
VB VANGUARD INDEX FUNDS $582,981 0.26% 1,955 $72,988 Up ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
VTI $15,583,184 6.85% up ×6
MO $4,967,405 2.18% up ×5
DIVO $4,446,268 1.95% up ×6
FNDF $3,184,676 1.40% up ×5
HD $3,139,578 1.38% up ×3
IVE $2,915,688 1.28% up ×6
IUSB $2,642,491 1.16% up ×4
SO $2,599,880 1.14% up ×6
SPSB $2,556,999 1.12% up ×4
IJT $2,138,906 0.94% up ×4
JNJ $1,935,218 0.85% up ×4
XLK $1,626,672 0.71% up ×6
SCHG $1,496,722 0.66% up ×3
LTC $1,241,246 0.55% up ×4
VTWO $1,221,793 0.54% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 30233Q108) $2,353,839 16,948 1.03%
Unknown issuer (CUSIP: 77926Y708) $1,110,801 43,323 0.49%
ETN $1,097,212 2,694 0.48%
ACN $798,397 5,904 0.35%
Unknown issuer (CUSIP: G2004J103) $419,272 15,627 0.18%
IHF $335,417 5,886 0.15%
GPC $333,897 2,658 0.15%
VOLT $329,048 8,461 0.14%
WCLD $324,581 9,586 0.14%
VO $246,998 3,051 0.11%
PJUN $228,897 5,259 0.10%
NBIX $224,929 1,270 0.10%
IMCB $224,636 2,312 0.10%
AVUV $224,597 1,812 0.10%
QGEN $223,116 5,375 0.10%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
FLXR Trimmed -51K -$2.0M
PFF Trimmed -43K -$1.5M
LLY Trimmed -60 +$1.4M
PMMF Bought more +10K +$966K
PFXF Trimmed -38K -$875K
VTI Bought more +30 +$874K
LOW Trimmed -3K -$837K
MSFT Bought more +2K +$672K
IVW Bought more +3K +$649K
AAPL Trimmed -228 +$528K

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 15,995 $2,381,866 20.0%
TLT March 31, 2026 22,876 $1,993,909
ETN Sept. 30, 2025 3,899 $1,406,057 16.5%
PCH March 31, 2026 35,006 $1,392,525 No longer tracked
MFUS June 30, 2025 25,264 $1,268,761
ETN March 31, 2026 3,721 $1,185,176 21.9%
USB Sept. 30, 2025 23,367 $1,101,520 19.0%
QPFF Sept. 30, 2025 30,619 $1,095,896
STIP June 30, 2026 10,392 $1,081,287
SCHP June 30, 2026 39,503 $1,063,025 -4.6%
CCL Sept. 30, 2025 25,516 $731,288 -10.9%
VCLT March 31, 2026 9,263 $702,599
NVO Sept. 30, 2025 8,778 $605,091 -32.7%
ADBE March 31, 2026 1,638 $573,284 -2.2%
GPC March 31, 2026 4,592 $564,632 20.3%
MLI June 30, 2026 3,962 $538,934 1.8%
ARE Dec. 31, 2025 6,400 $533,442 -3.2%
PAUG June 30, 2025 13,747 $519,362
CCL March 31, 2026 16,686 $509,590 -0.5%
ADDYY Sept. 30, 2025 3,999 $486,794 No longer tracked
XME March 31, 2026 4,496 $465,872 -2.1%
RWK March 31, 2026 3,277 $414,431 10.3%
EEM June 30, 2026 6,403 $408,171
NFLX June 30, 2026 4,364 $403,408 -6.1%
FBND March 31, 2026 8,654 $398,430
SLV June 30, 2026 5,617 $386,393 2.4%
KMI June 30, 2025 12,472 $355,825 5.7%
USIG June 30, 2026 6,897 $355,231
XSD Dec. 31, 2025 1,054 $336,352
IRM March 31, 2026 3,868 $320,820 11.0%
JVAL March 31, 2026 6,495 $318,761
FCG Dec. 31, 2025 13,260 $311,497 24.7%
VTR June 30, 2025 4,392 $301,960 33.0%
KR March 31, 2026 4,547 $284,091 -18.4%
BLV March 31, 2026 4,068 $282,807
XOP Dec. 31, 2025 2,123 $280,660
QGEN (filed as QGENXXXX) Sept. 30, 2025 5,658 $272,319 0.2%
TSM Sept. 30, 2025 1,145 $263,900 69.3%
V March 31, 2026 743 $260,578 19.3%
QGEN (filed as QGENXXXX) March 31, 2026 5,658 $254,440 11.8%
MAA Dec. 31, 2025 1,752 $244,823 -17.0%
QCOM March 31, 2026 1,401 $239,557 43.6%
XMHQ March 31, 2026 2,328 $238,480
CRM Dec. 31, 2025 992 $235,104 -11.4%
GMAB March 31, 2026 7,462 $229,830 29.5%
PSEP June 30, 2025 5,787 $222,279
DIS June 30, 2026 2,149 $220,563 6.2%
XBI Dec. 31, 2025 2,191 $219,559 26.7%
DVY March 31, 2026 1,553 $219,194
AFL June 30, 2025 1,958 $217,747 5.8%
BAC March 31, 2026 3,936 $216,482 10.3%
ITB Dec. 31, 2025 2,006 $215,145
COF March 31, 2026 879 $213,118 6.7%
MDT March 31, 2026 2,218 $213,095 -0.3%
VYM Sept. 30, 2025 1,560 $210,547
EDV Dec. 31, 2025 3,067 $209,936
FDL March 31, 2026 4,640 $205,730
BALT March 31, 2026 6,086 $203,942
ORCL March 31, 2026 1,045 $203,629 -3.3%
BLK March 31, 2026 190 $203,423 10.2%
HBAN Dec. 31, 2025 11,765 $203,198 -11.6%
WFC June 30, 2026 2,555 $202,989 -2.7%
AMD Sept. 30, 2025 1,384 $202,645 291.8%
GIS June 30, 2026 5,767 $201,678 -8.0%
VTR Dec. 31, 2025 2,872 $201,019 8.6%
VIG Dec. 31, 2025 928 $200,253
FDL June 30, 2025 4,610 $200,250
PR Dec. 31, 2025 13,027 $166,746 57.7%
LAND Dec. 31, 2025 16,815 $154,030 4.5%
LCID (filed as LCIDXXXX) Sept. 30, 2025 27,415 $62,780 -82.6%
GPMT June 30, 2025 10,404 $27,051 -69.2%
OPK Dec. 31, 2025 10,000 $15,500 23.8%
CHPT (filed as CHPTXXXX) Sept. 30, 2025 22,398 $14,802 -14.9%
UP June 30, 2026 12,200 $5,076 -61.0%
LTNC March 31, 2026 18,233 $9 No longer tracked
ILUS March 31, 2026 18,397 $4 No longer tracked
CGAC March 31, 2026 30,303 $3 No longer tracked
HQGE March 31, 2026 21,111 $0 No longer tracked