Sector breakdown

04
Healthcare 6.9%
Technology 2.0%
Financials 1.7%
Industrials 1.0%
Utilities 0.7%
Communication Services 0.5%
Consumer Discretionary 0.4%
Energy 0.4%
Consumer Staples 0.4%
Retail 0.4%
Materials 0.3%
Consumer products 0.1%
Other/Unmapped 85.3%

Full portfolio 122 positions

05
Type Streak 8Q trend
IWD iShares Trust $34,896,237 5.88% 143,943 $4,139,390 Down ×1
QQQ Invesco QQQ Trust, Series 1 $33,553,800 5.65% 45,564 $4,871,625 Down ×1
AMGN Amgen Inc. - Common Stock $32,858,406 5.54% 90,739 $931,889
IWF iShares Trust $29,651,229 5.00% 238,795 $3,949,176 Up ×5
IEI iShares 3-7 Year Treasury Bond ETF $25,406,901 4.28% 216,321 $3,278,395 Up ×5
VEA VANGUARD TAX-MANAGED FUNDS $22,991,377 3.87% 322,686 $4,344,931 Up ×6
VGT VANGUARD WORLD FUND $18,282,018 3.08% 152,962 $3,663,389 Up ×5
DYNF BlackRock ETF Trust $16,652,044 2.81% 244,847 $2,560,209 Up ×6
ITOT iShares Trust $16,102,895 2.71% 98,027 $1,891,800 Down ×1
VBR VANGUARD INDEX FUNDS $14,718,297 2.48% 60,571 $1,522,832 Down ×1
XLI SELECT SECTOR SPDR TRUST $14,317,147 2.41% 77,293 $2,626,189 Up ×3
XLF SELECT SECTOR SPDR TRUST $12,526,244 2.11% 233,655 $3,325,108 Up ×4
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF $12,448,479 2.10% 234,126 $1,536,943 Up ×5
IJH iShares Trust $12,427,124 2.09% 161,161 $2,527,091 Up ×6
VBK VANGUARD INDEX FUNDS $12,396,476 2.09% 33,897 $1,449,906 Down ×1
GPIX Goldman Sachs S&P 500 Premium Income ETF $12,252,073 2.06% 220,480 $1,803,171 Up ×6
MTUM iShares Trust $12,146,466 2.05% 35,430 $2,891,732 Down ×1
EEMV iShares, Inc. $12,087,935 2.04% 160,573 $3,870,786 Up ×6
USMV iShares Trust $11,911,073 2.01% 123,482 $1,596,902 Up ×6
XSD SPDR SERIES TRUST $11,749,884 1.98% 18,839 $3,765,815 Down ×1
XLK SELECT SECTOR SPDR TRUST $11,719,266 1.97% 61,512 $2,630,900 Down ×1
PAVE Global X Funds $11,316,764 1.91% 192,070 $622,428 Down ×1
LQD iShares Trust $10,896,856 1.84% 99,907 $1,646,984 Up ×5
QUAL iShares Trust $10,531,762 1.77% 47,996 $-3,306,370 Down ×1
BINC iShares Flexible Income Active ETF $10,349,397 1.74% 197,734 $1,329,105 Up ×6
SGOV iShares Trust $9,638,649 1.62% 95,745 $1,635,978 Up ×1
XLB XLB $9,431,913 1.59% 185,558 $675,770 Up ×4
VYM VANGUARD WHITEHALL FUNDS $8,403,719 1.42% 53,178 $486,738 Down ×1
MBB iShares MBS ETF $7,673,133 1.29% 81,180 $2,245,032 Up ×6
IAU iShares Gold Trust Shares $7,506,826 1.26% 99,415 $-512,824 Up ×4
VHT VANGUARD WORLD FUND $6,954,266 1.17% 23,257 $1,543,440 Up ×6
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF $6,790,533 1.14% 70,412 $-610,587 Down ×1
BOND PIMCO ETF Trust $6,552,811 1.10% 71,064 $997,094 Up ×6
XLU XLU $6,279,862 1.06% 138,506 $-12,391 Up ×4
XLC SELECT SECTOR SPDR TRUST $6,186,328 1.04% 57,746 $-120,053 Up ×4
IDEF iShares Defense Industrials Active ETF $5,838,971 0.98% 183,731 Up ×1
IGV iShares Trust $5,826,486 0.98% 64,310 $930,949 Up ×6
MINT PIMCO ETF Trust $5,227,099 0.88% 51,851 $-1,268,817 Down ×5
SHYG iShares Trust $5,016,169 0.85% 118,278 $501,989 Up ×6
BBCB J.P. Morgan Exchange-Traded Fund Trust $4,431,385 0.75% 97,770 $443,851 Up ×6
IYR iShares Trust $3,284,710 0.55% 32,124 $592,086 Up ×6
IJK iShares Trust $3,096,477 0.52% 26,353 $-1,134,996 Down ×1
JPM JP Morgan Chase & Co. Common Stock $2,604,237 0.44% 7,956 $263,901
NVDA NVIDIA Corporation - Common Stock $1,839,627 0.31% 9,194 $253,634 Up ×4
ABBV AbbVie Inc. Common Stock $1,652,519 0.28% 6,567 $224,263
IJJ iShares Trust $1,647,041 0.28% 11,149 $-1,314,599 Down ×1
RSP Invesco Exchange-Traded Fund Trust $1,491,304 0.25% 7,009 $190,279 Up ×2
PNC PNC Financial Services Group, Inc. (The) Common Stock $1,452,698 0.24% 5,900 $224,967
TSM Taiwan Semiconductor Manufacturing Company Ltd. $1,384,953 0.23% 2,900 $404,898
MS Morgan Stanley Common Stock $1,337,856 0.23% 6,400 $284,608
UNP Union Pacific Corporation Common Stock $1,278,400 0.22% 4,700 $89,562 Down ×1
MRK Merck & Company, Inc. Common Stock (new) $1,236,376 0.21% 9,621 $656,661 Up ×1
ATO Atmos Energy Corporation Common Stock $1,154,209 0.19% 6,700 $-9,527 Up ×5
BX Blackstone Inc. Common Stock $1,147,282 0.19% 9,750 $31,879 Up ×6
QCOM QUALCOMM Incorporated - Common Stock $1,145,698 0.19% 6,200 $347,262
BAC Bank of America Corporation Common Stock $1,125,475 0.19% 19,752 $162,693 Up ×5
IBM International Business Machines Corporation Common Stock $1,124,840 0.19% 4,000 $227,997 Up ×3
GLD SPDR Gold Shares $1,114,349 0.19% 3,025 $-232,028 Down ×3
BLK BlackRock, Inc. Common Stock $1,097,139 0.18% 1,141 $-172
C Citigroup, Inc. Common Stock $1,078,251 0.18% 7,704 $204,541
NEE NextEra Energy, Inc. Common Stock $1,076,549 0.18% 12,265 $-43,754 Up ×6
MSFT Microsoft Corporation - Common Stock $1,039,316 0.18% 2,786 $7,940
AAPL Apple Inc. - Common Stock $991,347 0.17% 3,426 $150,034 Up ×1
GD General Dynamics Corporation Common Stock $969,554 0.16% 2,737 $30,161
LMT Lockheed Martin Corporation Common Stock $953,709 0.16% 1,872 $-177,709
MCD McDonald's Corporation Common Stock $946,085 0.16% 3,500 $-48,443 Up ×1
JNJ Johnson & Johnson Common Stock $931,054 0.16% 3,666 $499,373 Up ×1
KMI Kinder Morgan, Inc. Common Stock $879,175 0.15% 27,500 $-244,080 Down ×1
PEP PepsiCo, Inc. - Common Stock $868,384 0.15% 6,413 $61,306 Up ×2
HPE Hewlett Packard Enterprise Company Common Stock $866,112 0.15% 19,200 $289,910 Down ×1
MDT Medtronic plc. Ordinary Shares $860,530 0.14% 11,000 $-92,620
INTC Intel Corporation - Common Stock $857,607 0.14% 6,142 $586,561
EOG EOG Resources, Inc. Common Stock $838,315 0.14% 6,462 $178,787 Up ×1
JAZZ Jazz Pharmaceuticals plc - Ordinary Shares $831,346 0.14% 3,450 $179,124
GOOGL Alphabet Inc. - Class A Common Stock $803,010 0.14% 2,247 $185,619 Up ×5
CMS CMS Energy Corporation Common Stock $795,600 0.13% 10,400 $19,800 Up ×3
SPY SPY $769,173 0.13% 1,030 $100,624 Up ×2
RTX RTX Corporation Common Stock $761,007 0.13% 4,011 $-10,593 Up ×1
KO Coca-Cola Company (The) Common Stock $739,557 0.12% 9,100 $-340,353 Down ×2
AMAT Applied Materials, Inc. - Common Stock $723,000 0.12% 1,000 $381,210
TMUS T-Mobile US, Inc. - Common Stock $687,693 0.12% 4,100 $-171,749 Up ×2
PPG PPG Industries, Inc. Common Stock $667,095 0.11% 5,500 $218,199 Up ×2
PFE Pfizer, Inc. Common Stock $665,867 0.11% 27,652 $-110,451 Up ×4
CAT Caterpillar, Inc. Common Stock $664,497 0.11% 624 $236,588 Up ×1
BR Broadridge Financial Solutions, Inc. Common Stock $657,360 0.11% 4,800
GILD Gilead Sciences, Inc. - Common Stock $656,968 0.11% 5,200 $266,732 Up ×1
DUK Duke Energy Corporation (Holding Company) Common Stock $632,900 0.11% 5,000 $43,670 Up ×2
CSCO Cisco Systems, Inc. - Common Stock $606,328 0.10% 5,162 $196,576 Down ×2
LRCX Lam Research Corporation - Common Stock $594,528 0.10% 1,372 Up ×1
ETR Entergy Corporation Common Stock $574,300 0.10% 5,000 $-268,400 Down ×1
PG Procter & Gamble Company (The) Common Stock $568,083 0.10% 3,874 $-3,466 Down ×1
HD Home Depot, Inc. (The) Common Stock $564,288 0.10% 1,600 $27,540 Down ×1
APD Air Products and Chemicals, Inc. Common Stock $527,724 0.09% 1,800 $4,842
Unknown issuer (CUSIP: 438516205) $526,165 0.09% 2,350 Up ×1
LEA Lear Corporation Common Stock $522,834 0.09% 3,900 $50,622
Unknown issuer (CUSIP: 43849R105) $519,538 0.09% 2,350 Up ×1
TSCO Tractor Supply Company - Common Stock $518,404 0.09% 16,400 Up ×1
CVS CVS Health Corporation Common Stock $496,560 0.08% 4,800 Up ×1
CVX Chevron Corporation Common Stock $492,970 0.08% 2,974 $-122,350
ABT Abbott Laboratories Common Stock $481,647 0.08% 5,308 $8,544 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
IWF $29,651,229 5.00% up ×5
IEI $25,406,901 4.28% up ×5
VEA $22,991,377 3.87% up ×6
VGT $18,282,018 3.08% up ×5
DYNF $16,652,044 2.81% up ×6
XLI $14,317,147 2.41% up ×3
XLF $12,526,244 2.11% up ×4
IGIB $12,448,479 2.10% up ×5
IJH $12,427,124 2.09% up ×6
GPIX $12,252,073 2.06% up ×6
EEMV $12,087,935 2.04% up ×6
USMV $11,911,073 2.01% up ×6
LQD $10,896,856 1.84% up ×5
BINC $10,349,397 1.74% up ×6
XLB $9,431,913 1.59% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
IDEF $5,838,971 183,731 0.98%
BR $657,360 4,800 0.11%
LRCX $594,528 1,372 0.10%
Unknown issuer (CUSIP: 438516205) $526,165 2,350 0.09%
Unknown issuer (CUSIP: 43849R105) $519,538 2,350 0.09%
TSCO $518,404 16,400 0.09%
CVS $496,560 4,800 0.08%
RPM $466,830 4,200 0.08%
LOW $440,980 2,000 0.07%
PRU $211,317 1,957 0.04%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
QQQ Trimmed -4K +$4.9M
VEA Bought more +32K +$4.3M
IWD Trimmed -2 +$4.1M
IWF Bought more +179K +$3.9M
EEMV Bought more +34K +$3.9M
XSD Trimmed -6K +$3.8M
VGT Bought more +132K +$3.7M
XLF Bought more +47K +$3.3M
QUAL Trimmed -24K -$3.3M
IEI Bought more +30K +$3.3M

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
SPTL June 30, 2025 199,195 $5,430,056
XLE June 30, 2025 51,594 $4,821,459 48.1%
IAK June 30, 2026 35,039 $4,495,153
IYT June 30, 2025 69,965 $4,479,859 17.0%
XOM June 30, 2026 9,517 $1,614,654 20.0%
ITB June 30, 2026 12,158 $1,100,906
HON June 30, 2026 4,100 $926,723 -4.4%
SHY June 30, 2025 7,453 $616,586
MDLZ June 30, 2025 8,990 $609,975 -13.7%
AWK June 30, 2025 4,000 $590,080 -6.4%
KIE June 30, 2026 10,556 $580,580 -2.9%
ITDD March 31, 2026 14,033 $493,961
DD Dec. 31, 2025 4,200 $327,180 223.3%
PDBC June 30, 2025 23,118 $315,098
IHI June 30, 2025 5,071 $305,223 -17.6%
ORCL March 31, 2026 1,366 $266,247 -3.3%
WMB March 31, 2026 3,951 $237,535 -3.1%
BR March 31, 2026 1,000 $223,170 -3.4%
SYY March 31, 2026 3,000 $221,070 8.6%
PRU March 31, 2026 1,941 $219,148 15.3%
DIS Sept. 30, 2025 1,741 $215,915 -10.8%
UL March 31, 2026 3,211 $209,999 4.8%
TGT Sept. 30, 2025 2,100 $207,165 73.9%
CPB Dec. 31, 2025 6,560 $207,164 -29.6%
SLB June 30, 2025 4,900 $204,820 44.2%
DIS March 31, 2026 1,747 $198,852 6.0%
CMCSA March 31, 2026 6,406 $191,479 -24.9%