Sector breakdown

04
Financials 17.5%
Communication Services 1.9%
Retail 1.5%
Industrials 1.3%
Healthcare 0.9%
Technology 0.8%
Consumer Staples 0.3%
Consumer Discretionary 0.3%
Real Estate 0.3%
Consumer products 0.0%
Utilities 0.0%
Materials 0.0%
Energy 0.0%
Other/Unmapped 75.1%

Full portfolio 236 positions

05
Type Streak 8Q trend
VOO VANGUARD INDEX FUNDS $28,950,079 10.74% 47,275 $3,238,632 Up ×3
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $24,605,923 9.13% 48,969 $225,473 Down ×3
MOAT VanEck ETF Trust $16,665,940 6.18% 168,156 $1,328,462 Up ×3
SGOV iShares Trust $13,475,282 5.00% 133,816 $-1,405,721 Down ×1
VUG VANGUARD INDEX FUNDS $11,328,625 4.20% 23,620 $1,113,074 Up ×1
VO VANGUARD INDEX FUNDS $9,309,610 3.45% 31,693 $720,504 Up ×1
EES WisdomTree Trust $7,493,320 2.78% 134,121 $629,015 Down ×3
VTI VANGUARD INDEX FUNDS $7,262,074 2.69% 22,129 $767,394 Up ×3
VIGI Vanguard International Dividend Appreciation ETF $7,152,217 2.65% 79,851 $37,792 Up ×3
AXP American Express Company Common Stock $6,575,873 2.44% 20,083 $188,203 Down ×1
SCHF SCHWAB STRATEGIC TRUST $6,387,214 2.37% 274,365 $532,043 Up ×2
USMV iShares Trust $6,084,676 2.26% 63,955 $86,709 Up ×3
SCHC SCHWAB STRATEGIC TRUST $5,784,005 2.14% 127,093 $413,062 Up ×1
BN Brookfield Corporation Class A Limited Voting Shares $5,580,706 2.07% 81,634 $385,410 Down ×3
QVAL Alpha Architect U.S. Quantitative Value ETF $4,915,684 1.82% 105,374 $236,049 Down ×3
VB VANGUARD INDEX FUNDS $3,871,130 1.44% 15,224 $413,481 Up ×1
VBR VANGUARD INDEX FUNDS $3,729,000 1.38% 17,867 $284,970 Up ×1
HTRB Hartford Funds Exchange-Traded Trust $3,522,879 1.31% 102,738 $53,945 Up ×3
DFUS Dimensional ETF Trust $3,501,927 1.30% 48,342 $183,502 Down ×2
AMZN Amazon.com, Inc. - Common Stock $3,068,306 1.14% 13,862 $-31,875 Down ×1
IVV iShares Trust $3,025,298 1.12% 4,520 $195,378 Down ×1
SCHR SCHWAB STRATEGIC TRUST $2,782,469 1.03% 110,723 $285,518 Up ×1
V Visa Inc. $2,669,589 0.99% 7,727 $-70,704
MKL Markel Group Inc. Common Stock $2,650,262 0.98% 1,378 $-276,759 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $2,586,768 0.96% 10,639 $742,123 Up ×2
SPEM SPDR INDEX SHARES FUNDS $2,481,384 0.92% 53,010 $273,791 Up ×1
DLS WisdomTree Trust $2,326,622 0.86% 29,262 $134,236 Up ×1
ADP Automatic Data Processing, Inc. - Common Stock $2,209,281 0.82% 7,583 $-118,771
VSS VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $2,152,516 0.80% 15,100 $58,216 Down ×3
JMST J.P. Morgan Exchange-Traded Fund Trust $2,074,106 0.77% 40,637 $-34,638 Down ×3
DFEM Dimensional ETF Trust $2,066,099 0.77% 64,425 $155,122 Up ×3
BND Vanguard Total Bond Market ETF $2,060,798 0.76% 27,710 $61,553 Up ×1
VXUS Vanguard Total International Stock ETF $1,984,742 0.74% 27,018 $355,945 Up ×3
VIOO VANGUARD ADMIRAL FUNDS $1,981,611 0.73% 17,938 $165,747
JNJ Johnson & Johnson Common Stock $1,633,881 0.61% 8,700 $409,249 Up ×2
BAM Brookfield Asset Management Inc Class A Limited Voting Shares $1,597,915 0.59% 27,783 $-35,736
EWX SPDR INDEX SHARES FUNDS $1,568,808 0.58% 23,314 $72,920 Down ×3
EFAV iShares Trust $1,552,769 0.58% 18,304 $2,998 Down ×1
VTES VANGUARD WELLINGTON FUND $1,545,183 0.57% 15,160 $41,326 Up ×3
DFAX Dimensional ETF Trust $1,539,236 0.57% 49,051 $228,776 Up ×2
VYM VANGUARD WHITEHALL FUNDS $1,503,141 0.56% 10,664 $92,610 Up ×3
SPBO SPDR SERIES TRUST $1,491,812 0.55% 50,348 $183,163 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $1,458,891 0.54% 5,940 $319,820
VT VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $1,250,122 0.46% 9,072 $84,189
SHY iShares 1-3 Year Treasury Bond ETF $1,221,043 0.45% 14,718 $720 Down ×1
DCOR Dimensional ETF Trust $1,175,643 0.44% 16,342 $135,858 Up ×3
MOTI VanEck ETF Trust $1,174,572 0.44% 31,685 $73,082 Down ×1
DUSA Davis Fundamental ETF Trust $1,112,487 0.41% 23,225 $37,634
VTV VANGUARD INDEX FUNDS $1,068,961 0.40% 5,732 $55,887
HEFA iShares Trust $1,064,670 0.39% 26,879 $45,452 Up ×1
VMBS Vanguard Mortgage-Backed Securities ETF $1,058,430 0.39% 22,539 $116,568 Up ×1
IJH iShares Trust $1,048,672 0.39% 16,069 $49,933 Down ×2
MSFT Microsoft Corporation - Common Stock $991,874 0.37% 1,915 $45,303 Up ×1
MTUM iShares Trust $963,739 0.36% 3,758 $35,863 Down ×3
VYMI Vanguard International High Dividend Yield ETF $926,341 0.34% 10,939 $48,816 Down ×1
DFSV Dimensional ETF Trust $888,940 0.33% 27,919 $101,982 Up ×1
DFAC Dimensional ETF Trust $863,351 0.32% 22,384 $506,922 Up ×2
DFSD Dimensional ETF Trust $814,315 0.30% 16,898 $3,042
EEMV iShares, Inc. $805,768 0.30% 12,624 $-5,838 Down ×3
DINT Davis Fundamental ETF Trust $804,552 0.30% 28,755 $85,578 Up ×1
XLF SELECT SECTOR SPDR TRUST $798,467 0.30% 14,822 $22,436 Up ×3
VIG VANGUARD SPECIALIZED FUNDS $788,963 0.29% 3,656 $55,552 Up ×1
Unknown issuer (CUSIP: 084990175) $751,045 0.28% 1 $25,345
SPDW SPDR INDEX SHARES FUNDS $749,420 0.28% 17,514 $-573 Down ×3
COKE Coca-Cola Consolidated, Inc. - Common Stock $727,183 0.27% 11,000 $-32,917
DGS WisdomTree Trust $651,111 0.24% 11,403 $21,209
WTM White Mountains Insurance Group, Ltd. Common Stock $646,782 0.24% 340 $-28,812 Down ×1
IJR iShares Trust $594,355 0.22% 5,002 $27,977 Down ×2
PNC PNC Financial Services Group, Inc. (The) Common Stock $583,745 0.22% 3,055 $-169,846 Down ×1
DFCF Dimensional ETF Trust $564,389 0.21% 13,199 $6,599
BKNG Booking Holdings Inc. - Common Stock $534,090 0.20% 102 $-48,058
ROST Ross Stores, Inc. - Common Stock $513,211 0.19% 3,400 $49,315
WFC Wells Fargo & Company Common Stock $503,271 0.19% 6,075 $10,542
CSW CSW Industrials, Inc. Common Stock $489,660 0.18% 2,000 $-77,100
IEI iShares 3-7 Year Treasury Bond ETF $484,016 0.18% 4,050 $7,656 Up ×1
IAU iShares Gold Trust Shares $483,848 0.18% 6,649 $69,216
AAPL Apple Inc. - Common Stock $476,413 0.18% 1,871 $92,540
AMT American Tower Corporation (REIT) Common Stock $473,148 0.18% 2,510 $-171,846 Down ×1
JPST J.P. Morgan Exchange-Traded Fund Trust $471,647 0.17% 9,297 $-25,585 Down ×1
NSRGY CUSIP: 641069406 $446,284 0.17% 4,790 $-863
MCO Moody's Corporation Common Stock $434,897 0.16% 900 $-22,284
ITOT iShares Trust $413,646 0.15% 2,840 $30,132
VZ Verizon Communications Inc. Common Stock $403,495 0.15% 9,181 $219 Down ×1
VWO VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $399,319 0.15% 7,370 $34,912 Up ×1
CSGP CoStar Group, Inc. - Common Stock $375,125 0.14% 4,700 $-103,243 Down ×2
IVOO VANGUARD ADMIRAL FUNDS $367,906 0.14% 3,333 $18,851 Up ×3
ROUS Lattice Strategies Trust $356,443 0.13% 6,200 $23,573
CWB SPDR SERIES TRUST $353,222 0.13% 3,903 $30,600
DIS Walt Disney Company (The) Common Stock $352,088 0.13% 3,075 $-29,243
SUB iShares Trust $351,706 0.13% 3,294 $1,507 Up ×1
Unknown issuer (CUSIP: G42089113) $330,742 0.12% 3,460 $-34,426
DFUV Dimensional ETF Trust $328,394 0.12% 7,348 $17,710
QLTA iShares Trust $319,902 0.12% 6,600 $28,078 Up ×1
PFE Pfizer, Inc. Common Stock $289,717 0.11% 11,225 $5,163
MA Mastercard Incorporated Common Stock $289,341 0.11% 500 $7,591
SCHW Charles Schwab Corporation (The) Common Stock $285,938 0.11% 3,000 $10,640
RODM Lattice Strategies Trust $283,916 0.11% 7,992 $11,389
VV VANGUARD INDEX FUNDS $283,854 0.11% 922 $21,129 Up ×1
DKS Dick's Sporting Goods Inc Common Stock $277,775 0.10% 1,250 $30,512
RSP Invesco Exchange-Traded Fund Trust $273,628 0.10% 1,442 $11,482

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
VOO $28,950,079 10.74% up ×3
MOAT $16,665,940 6.18% up ×3
VTI $7,262,074 2.69% up ×3
VIGI $7,152,217 2.65% up ×3
USMV $6,084,676 2.26% up ×3
HTRB $3,522,879 1.31% up ×3
DFEM $2,066,099 0.77% up ×3
VXUS $1,984,742 0.74% up ×3
VTES $1,545,183 0.57% up ×3
VYM $1,503,141 0.56% up ×3
DCOR $1,175,643 0.44% up ×3
XLF $798,467 0.30% up ×3
IVOO $367,906 0.14% up ×3
ROSC $220,118 0.08% up ×3
AGG $188,570 0.07% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
HECA $38,150 1,396 0.01%
FELC $21,393 574 0.01%
IWB $8,041 22 0.00%
FSMD $5,545 126 0.00%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
VOO Bought more +2K +$3.2M
SGOV Trimmed -14K -$1.4M
MOAT Bought more +5K +$1.3M
VUG Bought more +318 +$1.1M
VTI Bought more +760 +$767K
GOOGL Bought more +190 +$742K
VO Bought more +999 +$721K
EES Trimmed -579 +$629K
SCHF Bought more +9K +$532K
DFAC Bought more +12K +$507K

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
ANSS Sept. 30, 2025 2,200 $772,684 No longer tracked
CFRUY June 30, 2025 31,100 $546,116 No longer tracked
WDAY Sept. 30, 2025 280 $67,200 -22.7%
JPM Sept. 30, 2025 200 $57,982 5.4%
TXN Sept. 30, 2025 250 $51,905 59.9%
BK Sept. 30, 2025 550 $50,111 No longer tracked
FNB Sept. 30, 2025 2,349 $34,252 8.3%
RTX Sept. 30, 2025 210 $30,664 10.4%
PEP Sept. 30, 2025 200 $26,408 -10.4%
CABO June 30, 2025 95 $25,248 -91.0%
UNH June 30, 2025 47 $24,616 19.2%
LUV June 30, 2025 628 $21,088 30.9%
ADM Sept. 30, 2025 350 $18,473 34.7%
SPTI June 30, 2025 590 $16,862
LAD June 30, 2025 54 $15,851 -8.9%
NDIV Sept. 30, 2025 500 $13,888
SWKS June 30, 2025 213 $13,766 14.1%
ZD June 30, 2025 350 $13,153 82.4%
T Sept. 30, 2025 450 $13,023 -14.0%
PYPL June 30, 2025 167 $10,897 -29.0%
SNDK June 30, 2025 205 $9,760 3692.7%
FMC June 30, 2025 217 $9,155 -79.8%
MBB June 30, 2025 34 $3,189
KHC June 30, 2025 95 $2,891 -14.1%
BIL Sept. 30, 2025 26 $2,385
VGT June 30, 2025 2 $1,085
PARAA Sept. 30, 2025 8 $185 No longer tracked