DAHRING | CUSMANO LLC

CIK 2053669 · View on SEC EDGAR ↗

Portfolio value QoQ: +16.6% 13F does not disclose cash

Top 10 holdings weight65.37%

Top 25 holdings weight90.21%

Positions above 1%23

Effective number of positions19.0

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 1.32% Est. buys $13,157,131 · sells $2,319,154

Median holding: 6.0 quarters Tracked Q1 2025–Q2 2026 · 78.5% still held

New positions5

Increased39

Decreased17

Closed1

Portfolio value $189.6M #6,671 of 9,337 by 13F value · top 71.4%

Positions 62

As of June 30, 2026 Data as of Q2 2026

Sector breakdown

Technology 0.9%

Retail 0.5%

Healthcare 0.4%

Utilities 0.4%

Consumer Discretionary 0.1%

Energy 0.1%

Communication Services 0.1%

Other/Unmapped 97.5%

Full portfolio 62 positions

					Streak
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund	$20,024,291	10.56%	755,064	$1,192,999	Up ×6
FFLC FIDELITY COVINGTON TRUST	$17,969,199	9.48%	305,028	$2,758,887	Up ×1
SCHG SCHWAB STRATEGIC TRUST	$15,842,083	8.35%	468,147	$2,399,221	Up ×1
FESM Fidelity Covington Trust	$15,404,831	8.12%	319,007	$3,749,843	Up ×6
VGMS Vanguard Multi-Sector Income Bond ETF	$11,484,708	6.06%	223,917	$1,710,054	Up ×3
SCYB SCHWAB STRATEGIC TRUST	$10,028,851	5.29%	383,073	$1,023,023	Up ×3
FENI Fidelity Covington Trust	$9,444,038	4.98%	235,336	$1,117,690	Up ×2
CGDV Capital Group Dividend Value ETF	$8,801,950	4.64%	178,611	$1,969,175	Up ×1
FBCG Fidelity Blue Chip Growth ETF	$8,720,195	4.60%	140,399	$1,868,685	Up ×6
MFEM PIMCO Equity Series	$6,242,021	3.29%	221,077	$1,149,761	Up ×1
FTEC FIDELITY COVINGTON TRUST	$4,689,978	2.47%	16,423	$1,334,993	Up ×6
FDVV FIDELITY COVINGTON TRUST	$4,530,251	2.39%	75,141	$897,724	Up ×3
TSPA T. Rowe Price U.S. Equity Research ETF	$3,825,183	2.02%	80,479	$519,579	Down ×1
XMHQ Invesco Exchange-Traded Fund Trust	$3,744,166	1.97%	33,169	$-12,401	Down ×2
CGBL Capital Group Core Balanced ETF	$3,606,056	1.90%	94,996	$604,546	Up ×4
VV Vanguard Morningstar Large-Cap ETF	$3,594,499	1.90%	10,452	$448,406	Down ×2
IAU iShares Gold Trust Shares	$3,442,954	1.82%	45,596	$-669,357	Down ×4
FBND Fidelity Merrimack Street Trust	$2,892,394	1.53%	63,583	$-825,496	Down ×6
FNDF SCHWAB STRATEGIC TRUST	$2,869,112	1.51%	54,380	$452,905	Up ×1
VPLS Vanguard Core Plus Bond ETF	$2,729,737	1.44%	35,188	$885,837	Up ×1
TBUX T. Rowe Price Ultra Short-Term Bond ETF	$2,702,959	1.43%	54,309	$142,301	Up ×2
FFSM FIDELITY COVINGTON TRUST	$2,585,747	1.36%	67,672	$799,486	Up ×1
VHT Vanguard Health Care ETF	$2,195,588	1.16%	7,343	$303,312	Up ×6
JAAA Janus Henderson AAA CLO ETF	$1,872,068	0.99%	37,078	$216,960	Up ×1
TMSL T. Rowe Price Small-Mid Cap ETF	$1,825,598	0.96%	41,633	$254,219	Down ×3
TFNS T. Rowe Price Financials ETF	$1,067,947	0.56%	38,824	$203,617	Up ×1
VBK Vanguard Morningstar Small-Cap Growth ETF	$1,044,974	0.55%	2,857	$180,411	Down ×1
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	$997,202	0.53%	8,381	$117,891	Down ×1
MINO PIMCO ETF Trust	$973,436	0.51%	21,273	$179,542	Up ×6
VDE Vanguard Energy ETF	$853,186	0.45%	5,683	$-19,086	Up ×1
TCAF T. Rowe Price Capital Appreciation Equity ETF	$807,239	0.43%	19,641	$82,692	Down ×5
AAPL Apple Inc. - Common Stock	$724,747	0.38%	2,505	$183,839	Up ×2
TFLR T. Rowe Price Floating Rate ETF	$720,254	0.38%	14,288	$83,444	Up ×1
MSFT Microsoft Corporation - Common Stock	$688,979	0.36%	1,847	$-33,977	Down ×1
LLY Eli Lilly and Company Common Stock	$684,447	0.36%	571	$391,708	Up ×1
VIG Vanguard Div Appreciation ETF	$672,731	0.35%	2,843	$63,862	Up ×1
FNDX SCHWAB STRATEGIC TRUST	$619,048	0.33%	19,905	$55,861	Down ×4
FDEM Fidelity Covington Trust	$554,955	0.29%	15,275	$58,747	Down ×2
VB Vanguard Morningstar Small-Cap ETF	$535,286	0.28%	1,766	$74,085	Up ×3
DBMF LITMAN GREGORY FUNDS TRUST	$510,514	0.27%	16,678	$106,353	Up ×1
CMDT PIMCO ETF Trust	$495,290	0.26%	16,149	$81,782	Up ×1
VYM Vanguard High Dividend Yield ETF	$494,848	0.26%	3,131	$29,672	Down ×1
MGK VANGUARD WORLD FUND	$448,278	0.24%	5,099	$46,015	Up ×1
IWF iShares Russell 1000 Growth Fund	$448,071	0.24%	3,609	$63,715	Up ×1
FLSP Franklin Templeton ETF Trust	$422,716	0.22%	15,266	$96,887	Up ×1
DTE DTE Energy Company Common Stock	$410,144	0.22%	2,692	$112,216	Up ×6
GLD SPDR Gold Shares	$384,220	0.20%	1,043	$-64,572
AMZN Amazon.com, Inc. - Common Stock	$363,469	0.19%	1,525	$31,278	Down ×3
WEC WEC Energy Group, Inc. Common Stock	$356,878	0.19%	3,056	$6,087	Up ×6
NVDA NVIDIA Corporation - Common Stock	$341,035	0.18%	1,704	$84,437	Up ×1
WMT Walmart Inc. - Common Stock	$317,958	0.17%	2,807	$-29,535	Up ×1
QQQ Invesco QQQ Trust, Series 1	$304,089	0.16%	413	$56,495	Down ×4
ISCG iShares Trust	$284,637	0.15%	4,343		Up ×1
IMCG iShares Trust	$266,140	0.14%	2,707	$53,104	Up ×2
SCHF SCHWAB STRATEGIC TRUST	$259,015	0.14%	9,351	$28,296	Up ×3
HYDB iShares High Yield Systematic Bond ETF	$247,774	0.13%	5,298	$-538,055	Down ×5
F Ford Motor Company Common Stock	$221,090	0.12%	15,906	$71,167	Up ×1
XOM Exxon Mobil Corporation Common Stock	$217,400	0.11%	1,590	$-60,816	Down ×1
HD Home Depot, Inc. (The) Common Stock	$210,039	0.11%	596
GOOGL Alphabet Inc. - Class A Common Stock	$210,037	0.11%	588		Up ×1
IWR iShares Russell Mid-Cap ETF	$206,423	0.11%	1,871		Up ×1
IWD iShares Russell 1000 Value ETF	$200,824	0.11%	828		Up ×1
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

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

Security	Value	% of portfolio	Streak
PYLD	$20,024,291	10.56%	up ×6
FESM	$15,404,831	8.12%	up ×6
VGMS	$11,484,708	6.06%	up ×3
SCYB	$10,028,851	5.29%	up ×3
FBCG	$8,720,195	4.60%	up ×6
FTEC	$4,689,978	2.47%	up ×6
FDVV	$4,530,251	2.39%	up ×3
CGBL	$3,606,056	1.90%	up ×4
VHT	$2,195,588	1.16%	up ×6
MINO	$973,436	0.51%	up ×6
VB	$535,286	0.28%	up ×3
DTE	$410,144	0.22%	up ×6
WEC	$356,878	0.19%	up ×6
SCHF	$259,015	0.14%	up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
ISCG	$284,637	4,343	0.15%
HD	$210,039	596	0.11%
GOOGL	$210,037	588	0.11%
IWR	$206,423	1,871	0.11%
IWD	$200,824	828	0.11%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
FESM	Bought more	+12K	+$3.7M
FFLC	Bought more	+8K	+$2.8M
SCHG	Bought more	+7K	+$2.4M
CGDV	Bought more	+18K	+$2.0M
FBCG	Bought more	+4K	+$1.9M
VGMS	Bought more	+32K	+$1.7M
FTEC	Bought more	+297	+$1.3M
PYLD	Bought more	+36K	+$1.2M
MFEM	Bought more	+18K	+$1.1M
FENI	Bought more	+12K	+$1.1M

Exited positions

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.

Security	Quarter	Shares before	Value before	Price since exit
AMGN	Sept. 30, 2025	3,300	$921,393	42.8%
IBM	Sept. 30, 2025	1,555	$458,492	-21.5%
TVAL	March 31, 2026	12,433	$437,890
AZO	Dec. 31, 2025	102	$437,604	-17.2%
ELV	Sept. 30, 2025	1,025	$398,652	22.1%
PG	Dec. 31, 2025	1,986	$305,083	1.8%
PII	Sept. 30, 2025	7,236	$294,149	-9.4%
TSCO	Dec. 31, 2025	5,000	$284,350	-37.2%
JPM	Sept. 30, 2025	888	$257,322	5.4%
JNJ	Dec. 31, 2025	1,311	$243,015	22.2%
ACN	Sept. 30, 2025	800	$239,180	-20.9%
PM	Sept. 30, 2025	1,281	$233,327	16.8%
PLTR	June 30, 2026	1,538	$224,979	62.3%
TSLA	March 31, 2026	477	$214,516	1.9%
HYG	Sept. 30, 2025	2,647	$213,506
PEP	June 30, 2025	1,417	$212,519	-4.8%
HD	March 31, 2026	609	$209,492	-14.5%
DUOL	Sept. 30, 2025	500	$205,010	-54.3%