Sector breakdown

04
Technology 11.5%
Communication Services 5.0%
Energy 3.8%
Healthcare 3.7%
Financials 3.7%
Industrials 3.3%
Retail 2.9%
Consumer Staples 0.8%
Utilities 0.7%
Consumer Discretionary 0.5%
Real Estate 0.5%
Materials 0.2%
Consumer products 0.2%
Other/Unmapped 63.3%

Full portfolio 236 positions

05
Type Streak 8Q trend
VTV Vanguard Morningstar Value ETF $47,095,109 7.58% 216,102 $5,402,181 Up ×3
SCHO SCHWAB STRATEGIC TRUST $44,970,680 7.23% 1,862,911 $3,254,816 Up ×6
SCHR SCHWAB STRATEGIC TRUST $44,093,738 7.09% 1,788,067 $3,617,100 Up ×6
SCHG SCHWAB STRATEGIC TRUST $39,542,082 6.36% 1,168,501 $6,154,877 Up ×3
SCHF SCHWAB STRATEGIC TRUST $25,168,389 4.05% 908,606 $3,161,049 Up ×3
AAPL Apple Inc. - Common Stock $20,905,099 3.36% 72,246 $307,805 Down ×1
SPTL State Street SPDR Portfolio Long Term Treasury ETF $18,895,751 3.04% 720,387 $2,151,646 Up ×4
EMXC iShares MSCI Emerging Markets ex China ETF $17,029,386 2.74% 166,465 $3,315,556 Down ×1
VCIT Vanguard Intermediate-Term Corporate Bond ETF $15,036,000 2.42% 181,924 $1,402,580 Up ×6
VMBS Vanguard Mortgage-Backed Securities ETF $14,403,484 2.32% 307,701 $1,018,321 Up ×4
IWF iShares Russell 1000 Growth Fund $11,663,536 1.88% 93,932 $1,565,531 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $11,125,402 1.79% 86,579 $611,815 Down ×2
STIP iShares 0-5 Year TIPS Bond ETF $10,665,606 1.72% 104,401 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $10,491,668 1.69% 29,358 $2,038,554 Down ×1
XAR SPDR SERIES TRUST $9,545,807 1.54% 33,637 $889,701 Down ×1
SMLF iShares Trust $9,100,570 1.46% 102,093 $1,322,609 Down ×1
MSFT Microsoft Corporation - Common Stock $8,113,620 1.31% 21,751 $372,547 Up ×3
AMZN Amazon.com, Inc. - Common Stock $8,085,923 1.30% 33,926 $1,085,552 Up ×5
IBM International Business Machines Corporation Common Stock $7,851,383 1.26% 27,920 $1,099,367 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $7,554,902 1.22% 21,382 $1,236,524 Down ×3
CVX Chevron Corporation Common Stock $7,179,563 1.15% 43,313 $-2,155,765 Down ×4
IVV iShares Trust $6,657,632 1.07% 8,890 $489,370 Down ×1
NVDA NVIDIA Corporation - Common Stock $6,509,338 1.05% 32,532 $759,012 Down ×4
CAT Caterpillar, Inc. Common Stock $6,003,906 0.97% 5,638 $1,903,340 Down ×2
XLRE XLRE $5,663,931 0.91% 128,638 $713,988 Up ×4
SCHD SCHWAB STRATEGIC TRUST $5,565,549 0.90% 175,514 $340,776 Up ×2
XOM Exxon Mobil Corporation Common Stock $5,480,831 0.88% 40,088 $-1,568,542 Down ×2
JPM JP Morgan Chase & Co. Common Stock $5,277,869 0.85% 16,124 $533,317 Down ×1
ENB Enbridge Inc Common Stock $4,785,984 0.77% 88,286 $-107,514 Down ×2
VIG Vanguard Div Appreciation ETF $4,550,912 0.73% 19,233 $414,663
BSV VANGUARD BOND INDEX FUNDS $4,316,370 0.69% 55,402 $339,101 Up ×5
META Meta Platforms, Inc. - Class A Common Stock $4,269,235 0.69% 7,579 $-120,207 Down ×3
EPD Enterprise Products Partners L.P. Common Stock $4,097,380 0.66% 111,463 $-120,380
VBIL Vanguard 0-3 Month Treasury Bill ETF $4,042,674 0.65% 53,418 $207,975 Up ×2
ESGU iShares ESG Aware MSCI USA ETF $3,806,310 0.61% 23,256 $416,614 Down ×6
WMT Walmart Inc. - Common Stock $3,698,735 0.59% 32,657 $-426,743 Down ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $3,681,587 0.59% 7,709 $1,028,004 Down ×1
JNJ Johnson & Johnson Common Stock $3,403,854 0.55% 13,403 $41,093 Down ×2
DFAS Dimensional ETF Trust $2,991,834 0.48% 36,335 $404,685 Down ×4
PANW Palo Alto Networks, Inc. - Common Stock $2,946,072 0.47% 8,639 $1,492,611 Down ×1
VTEC Vanguard California Tax-Exempt Bond ETF $2,850,903 0.46% 28,339 $273,337 Up ×3
IJH iShares Trust $2,745,656 0.44% 35,607 $104,895 Down ×3
GOOGL Alphabet Inc. - Class A Common Stock $2,680,275 0.43% 7,500 Put option $523,575
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $2,602,528 0.42% 5,201 $-658,907 Down ×2
VTI Vanguard Morningstar Total Stock Market ETF $2,601,751 0.42% 7,031 $355,119 Up ×1
PM Philip Morris International Inc Common Stock $2,515,373 0.40% 13,904 $236,161 Up ×1
VO Vanguard Morningstar Mid-Cap ETF $2,484,886 0.40% 30,841 $178,735 Up ×1
COST Costco Wholesale Corporation - Common Stock $2,447,877 0.39% 2,617 $39,801 Up ×1
BAC Bank of America Corporation Common Stock $2,386,949 0.38% 41,891 $232,780 Down ×3
TSM Taiwan Semiconductor Manufacturing Company Ltd. $2,244,579 0.36% 4,700 Put option $656,214
GLTR abrdn Physical Precious Metals Basket Shares ETF $2,234,123 0.36% 12,333 $-507,095 Down ×2
CSCO Cisco Systems, Inc. - Common Stock $2,220,111 0.36% 18,901 $753,582
SUB iShares Short-Term National Muni Bond ETF $2,174,543 0.35% 20,424 $8,972 Up ×6
AAPL Apple Inc. - Common Stock $2,170,200 0.35% 7,500 Put option $266,775
NEE NextEra Energy, Inc. Common Stock $2,065,140 0.33% 23,529 $-126,549 Down ×2
CMI Cummins Inc. Common Stock $2,011,252 0.32% 2,820 $440,234 Down ×1
KLAC KLA Corporation - Common Stock $1,936,978 0.31% 6,420 $984,329 Up ×1
UPS United Parcel Service, Inc. Common Stock $1,900,923 0.31% 17,683 $54,429 Down ×2
ITA iShares U.S. Aerospace & Defense ETF $1,842,877 0.30% 7,602 $179,939
PANW Palo Alto Networks, Inc. - Common Stock $1,841,508 0.30% 5,400 Put option Up ×1
INTC Intel Corporation - Common Stock $1,839,905 0.30% 13,177 $1,269,436 Up ×1
VYMI Vanguard International High Dividend Yield ETF $1,812,772 0.29% 18,460 $73,102
QCOM QUALCOMM Incorporated - Common Stock $1,713,781 0.28% 9,274 $500,775 Down ×1
PFE Pfizer, Inc. Common Stock $1,591,495 0.26% 66,092 $-341,869 Down ×3
NEA Nuveen AMT-Free Quality Municipal Income Fund Common Shares of Beneficial Interest Par Value $.01 $1,583,280 0.25% 134,862 $859,551 Up ×1
FTNT Fortinet, Inc. - Common Stock $1,583,054 0.25% 10,305 $740,929
TSLA Tesla, Inc. - Common Stock $1,573,044 0.25% 3,740 $432,515 Up ×1
ABBV AbbVie Inc. Common Stock $1,525,693 0.25% 6,063 $381,261 Up ×1
SCHW Charles Schwab Corporation (The) Common Stock $1,525,039 0.25% 16,528 $38,181 Up ×3
RTX RTX Corporation Common Stock $1,333,992 0.21% 7,031 $-2,998 Up ×1
LLY Eli Lilly and Company Common Stock $1,332,567 0.21% 1,111 $310,703
IJR iShares Trust $1,305,276 0.21% 8,801 $26,996 Down ×2
CAT Caterpillar, Inc. Common Stock $1,277,880 0.21% 1,200 Put option $427,728
AVGO Broadcom Inc. - Common Stock $1,231,465 0.20% 3,260 $197,702 Down ×1
HYD VanEck High Yield Muni ETF $1,224,547 0.20% 23,773 $-83,555 Down ×1
CALI iShares Short-Term California Muni Active ETF $1,212,385 0.20% 23,991 $309,083 Up ×3
TGT Target Corporation Common Stock $1,179,800 0.19% 9,033 $17,007 Down ×2
VEA Vanguard FTSE Developed Markets ETF $1,124,396 0.18% 15,781 $-35,516 Down ×1
NFLX Netflix, Inc. - Common Stock $1,093,491 0.18% 15,315 $-379,046
QUAL iShares Trust $1,073,890 0.17% 4,894 $135,172
V Visa Inc. $1,040,592 0.17% 3,033 $115,435 Down ×1
AMZN Amazon.com, Inc. - Common Stock $1,024,862 0.16% 4,300 Put option $129,301
ARCC Ares Capital Corporation - Closed End Fund $1,022,634 0.16% 55,188 $-98,120 Down ×1
UBER Uber Technologies, Inc. Common Stock $989,025 0.16% 13,706 $131 Down ×1
SBUX Starbucks Corporation - Common Stock $981,138 0.16% 9,601 $120,974
MO Altria Group, Inc. $938,516 0.15% 13,044 $77,742
SLV iShares Silver Trust $928,079 0.15% 17,357 $-242,702 Up ×2
FSUN FirstSun Capital Bancorp - Common Stock $923,972 0.15% 23,826 Up ×1
MA Mastercard Incorporated Common Stock $914,722 0.15% 1,781 $19,831 Down ×1
XLK SELECT SECTOR SPDR TRUST $914,496 0.15% 4,800 $220,492 Down ×2
NVDA NVIDIA Corporation - Common Stock $900,405 0.14% 4,500 Put option $115,605
FCX Freeport-McMoRan, Inc. Common Stock $882,661 0.14% 14,035 $57,684
CME CME Group Inc. - Class A Common Stock $881,112 0.14% 3,990 $-311,807 Down ×2
LRCX Lam Research Corporation - Common Stock $879,227 0.14% 2,029 $411,525 Down ×1
VZ Verizon Communications Inc. Common Stock $870,002 0.14% 20,548 $-97,252 Up ×1
MMM 3M Company Common Stock $860,552 0.14% 5,315 $88,056 Down ×3
DXJ WisdomTree Trust $846,431 0.14% 4,878 $72,878
CMF iShares Trust $838,835 0.13% 14,553 $252,950 Up ×2
O Realty Income Corporation Common Stock $825,245 0.13% 13,319 $45,567 Up ×6
AMD Advanced Micro Devices, Inc. - Common Stock $809,208 0.13% 1,393 $525,830

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
VTV $47,095,109 7.58% up ×3
SCHO $44,970,680 7.23% up ×6
SCHR $44,093,738 7.09% up ×6
SCHG $39,542,082 6.36% up ×3
SCHF $25,168,389 4.05% up ×3
SPTL $18,895,751 3.04% up ×4
VCIT $15,036,000 2.42% up ×6
VMBS $14,403,484 2.32% up ×4
MSFT $8,113,620 1.31% up ×3
AMZN $8,085,923 1.30% up ×5
XLRE $5,663,931 0.91% up ×4
BSV $4,316,370 0.69% up ×5
VTEC $2,850,903 0.46% up ×3
SUB $2,174,543 0.35% up ×6
SCHW $1,525,039 0.25% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
STIP $10,665,606 104,401 1.72%
PANW $1,841,508 5,400 0.30%
FSUN $923,972 23,826 0.15%
CLSE $628,664 18,417 0.10%
SPHQ $551,502 6,121 0.09%
SPMO $409,181 2,533 0.07%
CRWD $286,178 375 0.05%
BE $282,116 932 0.05%
SNDK $272,848 120 0.04%
AMKR $270,159 3,133 0.04%
KLIC $267,520 2,000 0.04%
CIBR $265,058 2,950 0.04%
AMAT $263,895 365 0.04%
NVT $256,620 1,513 0.04%
DY $252,795 500 0.04%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SCHG Bought more +22K +$6.2M
VTV Bought more +4K +$5.4M
SCHR Bought more +163K +$3.6M
EMXC Trimmed -8K +$3.3M
SCHO Bought more +144K +$3.3M
SCHF Bought more +19K +$3.2M
CVX Trimmed -2K -$2.2M
SPTL Bought more +84K +$2.2M
GOOGL Trimmed -38 +$2.0M
CAT Trimmed -150 +$1.9M

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
BWX June 30, 2026 431,181 $9,464,423
SHV June 30, 2025 22,254 $2,458,177
BIL June 30, 2025 20,944 $1,921,238
UNH June 30, 2025 2,073 $1,085,734 21.4%
FFWM June 30, 2026 144,557 $852,886 No longer tracked
UL (filed as ULXXXX) Dec. 31, 2025 11,873 $703,831 -8.3%
GBCI June 30, 2025 14,600 $645,612 1.6%
CMCSA Dec. 31, 2025 16,292 $511,895 -23.0%
GOLD June 30, 2025 22,237 $432,287 87.7%
BXSL March 31, 2026 14,831 $390,500 -0.7%
DY March 31, 2026 1,137 $384,192 -19.0%
HII Sept. 30, 2025 1,510 $364,605 -7.4%
SCHA June 30, 2025 15,352 $359,697 30.9%
AHR June 30, 2025 11,174 $338,572 37.4%
SYY Dec. 31, 2025 3,754 $309,104 3.7%
INTU June 30, 2026 677 $292,721 9.1%
FSK March 31, 2026 18,671 $276,518 8.0%
KMB Dec. 31, 2025 2,179 $270,937 -5.4%
SNY June 30, 2026 5,543 $267,062 -7.4%
PAYX Dec. 31, 2025 2,089 $264,802 -11.1%
SAP March 31, 2026 1,059 $257,242 21.3%
PFFV Sept. 30, 2025 11,075 $252,510
BTI June 30, 2026 4,216 $246,516 -14.4%
KHC June 30, 2026 10,674 $240,058 -7.5%
JD June 30, 2025 5,817 $239,195 -19.2%
LIN June 30, 2025 512 $238,408 2.8%
IEFA Dec. 31, 2025 2,728 $238,182
VT Sept. 30, 2025 1,800 $231,336
BOOT March 31, 2026 1,304 $230,117 -16.0%
TTWO March 31, 2026 893 $228,635 3.0%
NKE March 31, 2026 3,579 $228,018 -35.7%
ACWI June 30, 2026 1,644 $227,480
BCS March 31, 2026 8,864 $225,589 11.5%
AMT Sept. 30, 2025 1,010 $223,230 -15.6%
WM Dec. 31, 2025 1,010 $223,038 -5.9%
ADBE June 30, 2026 896 $217,800 16.5%
IEFA June 30, 2026 2,365 $214,103
DLR Dec. 31, 2025 1,238 $214,025 16.3%
UBS June 30, 2026 5,468 $213,635 -2.8%
HLI Dec. 31, 2025 1,031 $211,685 -27.1%
TJX June 30, 2026 1,315 $210,006 -11.3%
JEPI June 30, 2025 3,672 $209,818
RBA Dec. 31, 2025 1,934 $209,568 -20.0%
SLB June 30, 2026 4,050 $208,130 8.2%
IHI March 31, 2026 3,342 $207,705 -3.3%
COP June 30, 2026 1,571 $207,372 23.5%
FTSL June 30, 2025 4,533 $206,931
XLI June 30, 2025 1,576 $206,566 15.3%
PYPL March 31, 2026 3,519 $205,439 20.3%
EMBJ June 30, 2026 3,457 $205,138 18.0%
ED Dec. 31, 2025 2,000 $201,040 4.1%
PDI Dec. 31, 2025 10,131 $200,594 -19.8%
TAK Dec. 31, 2025 11,372 $166,486 14.2%
ETJ June 30, 2025 11,135 $94,202 -10.0%