Sector breakdown

04
Technology 4.7%
Financials 3.8%
Communication Services 2.3%
Industrials 1.8%
Healthcare 1.7%
Materials 1.0%
Retail 0.5%
Energy 0.5%
Consumer Discretionary 0.4%
Consumer products 0.3%
Consumer Staples 0.3%
Other/Unmapped 82.7%

Full portfolio 108 positions

05
Type Streak 8Q trend
VGSH Vanguard Short-Term Treasury ETF $49,603,658 19.19% 852,297 $-239,795 Up ×5
IVV iShares Trust $24,725,471 9.56% 33,016 $3,131,618 Down ×1
TLT iShares 20+ Year Treasury Bond ETF $23,406,166 9.05% 270,842 $-101,735 Down ×1
AGG iShares Trust $21,204,560 8.20% 214,231 $131,278 Up ×6
SHY iShares 1-3 Year Treasury Bond ETF $17,287,439 6.69% 210,540 $-150,850 Down ×1
IWD iShares Trust $14,788,318 5.72% 61,000 $2,027,019 Up ×2
SPY SPY $8,587,855 3.32% 11,500 Put option $2,084,455 Up ×2
IEFA iShares Trust $7,799,143 3.02% 80,753 $519,103 Up ×2
VGLT Vanguard Long-Term Treasury ETF $7,560,748 2.92% 137,020 $74,063 Up ×6
BIL SPDR SERIES TRUST $4,585,391 1.77% 50,037 $58,008 Up ×1
IWF iShares Trust $3,254,744 1.26% 26,212 $465,235 Up ×1
VOOV VANGUARD ADMIRAL FUNDS $3,251,096 1.26% 14,831 $244,420 Up ×6
INTC Intel Corporation - Common Stock $3,165,272 1.22% 22,669 $2,152,003 Down ×2
SPY SPY $3,119,258 1.21% 4,177 $512,695 Up ×2
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $2,677,087 1.04% 5,350 $282,045 Up ×1
IWP iShares Trust $2,450,464 0.95% 16,737 $338,021 Up ×2
VEA VANGUARD TAX-MANAGED FUNDS $2,392,939 0.93% 33,585 $242,095 Up ×6
AAPL Apple Inc. - Common Stock $2,213,315 0.86% 7,649 $262,939 Down ×1
JPST J.P. Morgan Exchange-Traded Fund Trust $1,992,281 0.77% 39,397 $-149,509 Down ×6
QQQ Invesco QQQ Trust, Series 1 $1,914,640 0.74% 2,600 Put option $67,664 Down ×1
IWS iShares Trust $1,845,660 0.71% 11,213 $356,343 Up ×2
AMAT Applied Materials, Inc. - Common Stock $1,793,040 0.69% 2,480 $948,819 Up ×1
CSCO Cisco Systems, Inc. - Common Stock $1,766,070 0.68% 15,036 $602,414 Up ×4
GOOG Alphabet Inc. - Class C Capital Stock $1,709,084 0.66% 4,837 $330,129 Up ×2
SCHW Charles Schwab Corporation (The) Common Stock $1,602,730 0.62% 17,370 $262,481 Up ×1
JPM JP Morgan Chase & Co. Common Stock $1,531,457 0.59% 4,679 $173,958 Up ×3
IWO iShares Trust $1,404,861 0.54% 3,566 $288,325 Up ×2
IWN iShares Trust $1,382,500 0.53% 6,250 $199,648 Up ×2
JNJ Johnson & Johnson Common Stock $1,311,247 0.51% 5,163 $70,714 Up ×4
VIOO VANGUARD ADMIRAL FUNDS $1,309,282 0.51% 9,519 $214,231 Down ×1
FBIN Fortune Brands Innovations, Inc. Common Stock $1,294,103 0.50% 23,572 $375,502
B Barrick Mining Corporation Common Shares $1,272,474 0.49% 34,644 $-118,669 Up ×3
MSFT Microsoft Corporation - Common Stock $1,178,415 0.46% 3,159 $27,893 Up ×2
GOOGL Alphabet Inc. - Class A Common Stock $1,152,876 0.45% 3,226 $232,972 Up ×6
XLK SELECT SECTOR SPDR TRUST $1,066,912 0.41% 5,600 Put option $322,672
VOO VANGUARD INDEX FUNDS $1,022,660 0.40% 1,489 $206,407 Up ×6
MS Morgan Stanley Common Stock $1,011,336 0.39% 4,838 $224,362 Up ×4
SJNK SPDR SERIES TRUST $945,033 0.37% 37,756 $-8,429 Down ×1
IBM International Business Machines Corporation Common Stock $849,535 0.33% 3,021 $117,275
ORCL Oracle Corporation Common Stock $813,865 0.31% 5,554 $-462 Up ×3
ACGL Arch Capital Group Ltd. - Common Stock $806,277 0.31% 8,307 $5,720 Down ×1
MRK Merck & Company, Inc. Common Stock (new) $765,346 0.30% 5,956 $75,242 Up ×1
IWM iShares Trust $757,735 0.29% 2,522 $112,935 Down ×5
BA Boeing Company (The) Common Stock $746,064 0.29% 3,447 $83,195 Up ×3
AVGO Broadcom Inc. - Common Stock $702,615 0.27% 1,860 $169,639 Up ×2
IHDG WisdomTree Trust $692,411 0.27% 13,219 $55,916
AEM Agnico Eagle Mines Limited Common Stock $675,281 0.26% 4,353 $-208,291
TGT Target Corporation Common Stock $667,221 0.26% 5,109 $67,948 Up ×6
XME SPDR SERIES TRUST $665,318 0.26% 6,222 $-6,720
META Meta Platforms, Inc. - Class A Common Stock $628,632 0.24% 1,116 $-2,427 Up ×1
QCOM QUALCOMM Incorporated - Common Stock $620,340 0.24% 3,357 $196,525 Up ×3
GS Goldman Sachs Group, Inc. (The) Common Stock $616,119 0.24% 609 $92,319 Down ×1
MCK McKesson Corporation Common Stock $577,278 0.22% 764 $-83,857
VZ Verizon Communications Inc. Common Stock $568,838 0.22% 13,435 $-97,015 Up ×3
EXP Eagle Materials Inc Common Stock $567,000 0.22% 2,520 $89,586
PG Procter & Gamble Company (The) Common Stock $558,992 0.22% 3,812 $34,241 Up ×2
ABBV AbbVie Inc. Common Stock $556,502 0.22% 2,212 $83,787 Up ×4
ALL Allstate Corporation (The) Common Stock $539,648 0.21% 2,268 $94,074 Up ×4
NVDA NVIDIA Corporation - Common Stock $507,629 0.20% 2,537 $69,187 Up ×1
LMT Lockheed Martin Corporation Common Stock $500,799 0.19% 983 $-71,558 Up ×2
PEP PepsiCo, Inc. - Common Stock $478,368 0.19% 3,533 $-29,430 Up ×6
NEM Newmont Corporation $434,870 0.17% 4,656 $-70,225 Down ×3
VOOG VANGUARD ADMIRAL FUNDS $428,717 0.17% 5,189 $75,246 Up ×6
BILS SPDR SERIES TRUST $395,036 0.15% 3,975 $-49,958 Down ×1
VIOG VANGUARD ADMIRAL FUNDS $388,925 0.15% 2,535 $75,157 Up ×4
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $381,497 0.15% 4,920 $-74,203 Up ×1
IVOG VANGUARD ADMIRAL FUNDS $377,310 0.15% 2,579 $56,356 Up ×4
VIOV VANGUARD ADMIRAL FUNDS $372,649 0.14% 3,176 $50,534 Up ×4
XOM Exxon Mobil Corporation Common Stock $370,043 0.14% 2,707 $-86,418 Up ×5
IYW iShares Trust $355,644 0.14% 1,410 $99,842
TPR Tapestry, Inc. Common Stock $350,800 0.14% 2,397 $12,630
IVOV VANGUARD ADMIRAL FUNDS $350,545 0.14% 3,073 $37,347 Up ×5
VXUS Vanguard Total International Stock ETF $343,413 0.13% 4,017 $33,662
MCD McDonald's Corporation Common Stock $335,455 0.13% 1,241 $-31,277 Up ×2
AJG Arthur J. Gallagher & Co. Common Stock $325,989 0.13% 1,420 $22,777 Up ×1
VSS VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $307,809 0.12% 1,995 $16,958
XOP SPDR SERIES TRUST $300,653 0.12% 1,949 $-53,734
DHR Danaher Corporation Common Stock $296,308 0.11% 1,556 $7,057 Up ×1
VGT VANGUARD WORLD FUND $286,848 0.11% 2,400 $77,532 Up ×1
IAU iShares Gold Trust Shares $283,540 0.11% 3,755 $-47,501
EXPE Expedia Group, Inc. - Common Stock $281,468 0.11% 1,100 $27,489
BAX Baxter International Inc. Common Stock $273,578 0.11% 12,832 $100,790 Up ×1
BP BP p.l.c. Common Stock $272,174 0.11% 7,366 $-45,217 Up ×3
KO Coca-Cola Company (The) Common Stock $271,523 0.11% 3,341 $17,440
MBC MasterBrand, Inc. Common Stock $267,355 0.10% 25,982 $51,445
NUE Nucor Corporation Common Stock $267,300 0.10% 1,200 Up ×1
MFC Manulife Financial Corporation Common Stock $264,368 0.10% 6,526 $39,613
CAH Cardinal Health, Inc. Common Stock $260,247 0.10% 1,096 $30,236 Up ×2
EBAY eBay Inc. - Common Stock $257,025 0.10% 2,300 $47,679
EMXC iShares MSCI Emerging Markets ex China ETF $249,510 0.10% 2,439 Up ×1
NOC Northrop Grumman Corporation Common Stock $247,525 0.10% 486 $-64,259 Up ×4
ASB Associated Banc-Corp Common Stock $246,160 0.10% 8,000 $39,280
MWA MUELLER WATER PRODUCTS Common Stock $241,808 0.09% 9,362 $-15,540
CLX Clorox Company (The) Common Stock $240,509 0.09% 2,520 Up ×1
MDT Medtronic plc. Ordinary Shares $237,663 0.09% 3,038 Up ×1
TJX TJX Companies, Inc. (The) Common Stock $235,181 0.09% 1,552 $-12,714
ROST Ross Stores, Inc. - Common Stock $225,920 0.09% 1,061 $-3,997
CMI Cummins Inc. Common Stock $221,195 0.09% 310 Up ×1
AMLP ALPS ETF Trust $220,207 0.09% 4,247 $-3,355
GD General Dynamics Corporation Common Stock $218,566 0.08% 617 $6,799

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
VGSH $49,603,658 19.19% up ×5
AGG $21,204,560 8.20% up ×6
VGLT $7,560,748 2.92% up ×6
VOOV $3,251,096 1.26% up ×6
VEA $2,392,939 0.93% up ×6
CSCO $1,766,070 0.68% up ×4
JPM $1,531,457 0.59% up ×3
JNJ $1,311,247 0.51% up ×4
B $1,272,474 0.49% up ×3
GOOGL $1,152,876 0.45% up ×6
VOO $1,022,660 0.40% up ×6
MS $1,011,336 0.39% up ×4
ORCL $813,865 0.31% up ×3
BA $746,064 0.29% up ×3
TGT $667,221 0.26% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
NUE $267,300 1,200 0.10%
EMXC $249,510 2,439 0.10%
CLX $240,509 2,520 0.09%
MDT $237,663 3,038 0.09%
CMI $221,195 310 0.09%
BAC $211,111 3,705 0.08%
DELL $207,532 481 0.08%
GE $200,693 537 0.08%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
IVV Trimmed -42 +$3.1M
INTC Trimmed -292 +$2.2M
SPY Bought more +2K +$2.1M
IWD Bought more +1K +$2.0M
AMAT Bought more +10 +$949K
CSCO Bought more +38 +$602K
IEFA Bought more +337 +$519K
SPY Bought more +169 +$513K
IWF Bought more +20K +$465K
FBIN Price move only +0 +$376K

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
HELO June 30, 2025 15,930 $950,702
GOLD June 30, 2025 36,612 $711,737 90.7%
MDLZ Dec. 31, 2025 10,884 $679,923 8.1%
COWG June 30, 2025 13,950 $429,521
PFE March 31, 2026 12,632 $314,537 -1.0%
RBLX Dec. 31, 2025 2,170 $300,588 -45.6%
DIVZ Dec. 31, 2025 8,105 $294,904
JULZ March 31, 2026 6,830 $287,685
DTE June 30, 2025 1,900 $262,713 -6.0%
CMCSA June 30, 2025 6,446 $237,857 -39.6%
JEPI March 31, 2026 4,105 $234,970
FIS Sept. 30, 2025 2,858 $232,670 -50.8%
NOVZ Dec. 31, 2025 5,131 $228,887
KTOS June 30, 2026 3,200 $225,632 -13.6%
AZO Dec. 31, 2025 52 $223,092 -17.7%
AZO June 30, 2025 58 $221,141 -24.8%
BP June 30, 2025 6,131 $207,166 49.6%
BAC March 31, 2026 3,705 $203,775 10.3%