Sector breakdown

04
Technology 2.7%
Industrials 1.2%
Consumer Discretionary 0.8%
Healthcare 0.8%
Retail 0.7%
Financials 0.6%
Communication Services 0.4%
Utilities 0.2%
Energy 0.2%
Real Estate 0.2%
Materials 0.1%
Other/Unmapped 92.0%

Full portfolio 54 positions

05
Type Streak 8Q trend
SHV iShares 0-1 Year Treasury Bond ETF $23,102,797 16.26% 209,359 $-2,143,107 Down ×4
SPYM State Street SPDR Portfolio S&P 500 ETF $21,306,180 15.00% 242,446 $2,972,856 Up ×1
SGOV iShares Trust $15,891,568 11.19% 157,858 $-737,291 Down ×3
USMV iShares MSCI USA Min Vol Factor ETF $11,779,334 8.29% 122,116 $1,527,193 Up ×1
QUAL iShares Trust $10,351,544 7.29% 47,174 $1,774,901 Up ×6
IWX iShares Russell Top 200 Value ETF $6,683,243 4.70% 63,553 $855,129 Up ×1
IVV iShares Trust $6,112,904 4.30% 8,162 $465,241 Down ×1
IWM iShares Russell 2000 Index Fund $5,152,448 3.63% 17,149 $875,916 Down ×1
DYNF BlackRock ETF Trust $4,680,992 3.30% 68,828 $710,963 Up ×1
IQLT iShares Trust $4,594,722 3.23% 92,729 $470,636 Up ×1
IOO iShares Trust $3,257,946 2.29% 23,850 $842,943 Up ×3
IWL iShares Russell Top 200 ETF $2,833,639 1.99% 15,321 $486,470 Up ×4
LGLV SPDR SERIES TRUST $2,731,994 1.92% 15,055 $262,592 Up ×2
AOR iShares Trust $2,396,430 1.69% 34,481 $194,502 Up ×2
MGC VANGUARD WORLD FUND $2,324,741 1.64% 8,495 $316,731 Down ×2
SHYM iShares Short Duration High Yield Muni Active ETF $1,800,490 1.27% 80,200 $27,880 Down ×1
VBIL Vanguard 0-3 Month Treasury Bill ETF $1,571,647 1.11% 20,767 $-156,880 Down ×1
MSFT Microsoft Corporation - Common Stock $820,099 0.58% 2,198 $403,123 Up ×1
MGK VANGUARD WORLD FUND $760,244 0.54% 8,647 $142,239 Up ×2
SMMD iShares Trust $719,628 0.51% 7,853 $140,669 Up ×4
CROX Crocs, Inc. - Common Stock $714,189 0.50% 5,920 $228,273 Up ×2
AVGO Broadcom Inc. - Common Stock $693,261 0.49% 1,835 $127,728 Up ×1
NVDA NVIDIA Corporation - Common Stock $632,753 0.45% 3,162 $93,830 Up ×1
SPY SPY $596,223 0.42% 798 $159,013 Up ×1
SHOP Shopify Inc. - Class A Subordinate Voting Shares $578,093 0.41% 5,063 $-22,480
EWBC East West Bancorp, Inc. - Common Stock $559,347 0.39% 4,333 $101,667 Up ×1
WMT Walmart Inc. - Common Stock $551,939 0.39% 4,873 $-29,799 Up ×1
AAPL Apple Inc. - Common Stock $530,552 0.37% 1,833 $57,577 Down ×1
MRK Merck & Company, Inc. Common Stock (new) $526,465 0.37% 4,097 $2,482 Down ×1
ETN Eaton Corporation, PLC Ordinary Shares $520,719 0.37% 1,222 $76,493 Down ×1
AN AutoNation, Inc. Common Stock $455,557 0.32% 2,452 $-17,753 Up ×1
UNP Union Pacific Corporation Common Stock $418,608 0.29% 1,539 $10,279 Down ×1
DIS Walt Disney Company (The) Common Stock $395,054 0.28% 4,104 $-9,623 Down ×1
MDT Medtronic plc. Ordinary Shares $392,260 0.28% 5,014 $-72,634 Down ×2
ONEQ Fidelity Nasdaq Composite Index ETF $377,372 0.27% 3,656 $66,941
MAR Marriott International - Class A Common Stock $373,925 0.26% 1,009 $43,911
SCHD SCHWAB STRATEGIC TRUST $355,063 0.25% 11,197 $43,411 Up ×1
ARTY iShares Trust $343,140 0.24% 4,505 $133,498 Down ×1
VST Vistra Corp. Common Stock $316,308 0.22% 1,994 $-11,562 Down ×1
RKLB Rocket Lab Corporation - Common Stock $304,950 0.21% 3,000
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF $302,773 0.21% 3,334 $22,188 Down ×3
ORCL Oracle Corporation Common Stock $294,859 0.21% 2,012 $-25,399 Down ×1
EPD Enterprise Products Partners L.P. Common Stock $290,294 0.20% 7,897 $-37,438 Down ×1
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $289,993 0.20% 380 Up ×1
XLK SELECT SECTOR SPDR TRUST $286,161 0.20% 1,502
CAT Caterpillar, Inc. Common Stock $266,225 0.19% 250 Up ×1
GLW Corning Incorporated Common Stock $256,963 0.18% 1,006 Up ×1
QQQ Invesco QQQ Trust, Series 1 $238,898 0.17% 324 Up ×1
PSKY Paramount Skydance Corporation - Class B Common Stock $234,155 0.16% 23,748 $-36,698 Down ×1
LLY Eli Lilly and Company Common Stock $232,011 0.16% 193
MRSH Marsh Common Stock $230,506 0.16% 1,383 $-8,051 Up ×6
PLD Prologis, Inc. Common Stock $219,070 0.15% 1,617 $2,182 Down ×2
ATR AptarGroup, Inc. Common Stock $205,011 0.14% 1,637 Up ×1
BOND PIMCO Active Bond Exchange-Traded Fund Exchange-Traded Fund $202,917 0.14% 2,200 $-156,342 Down ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
QUAL $10,351,544 7.29% up ×6
IOO $3,257,946 2.29% up ×3
IWL $2,833,639 1.99% up ×4
SMMD $719,628 0.51% up ×4
MRSH $230,506 0.16% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
RKLB $304,950 3,000 0.21%
CRWD $289,993 380 0.20%
XLK $286,161 1,502 0.20%
CAT $266,225 250 0.19%
GLW $256,963 1,006 0.18%
QQQ $238,898 324 0.17%
LLY $232,011 193 0.16%
ATR $205,011 1,637 0.14%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPYM Bought more +3K +$3.0M
SHV Trimmed -19K -$2.1M
QUAL Bought more +2K +$1.8M
USMV Bought more +12K +$1.5M
IWM Trimmed -95 +$876K
IWX Bought more +662 +$855K
IOO Bought more +4K +$843K
SGOV Trimmed -7K -$737K
DYNF Bought more +591 +$711K
IWL Bought more +695 +$486K

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
TLT June 30, 2025 125,436 $11,418,453
VTWO March 31, 2026 9,166 $912,200
BLK March 31, 2026 642 $687,426 10.0%
V March 31, 2026 1,845 $647,040 20.8%
VCSH March 31, 2026 7,700 $613,903
AAPL June 30, 2025 2,489 $552,909 62.5%
TMUS June 30, 2026 2,417 $507,643 -2.1%
ARTY June 30, 2025 14,505 $456,198
BSV March 31, 2026 5,715 $450,399
LLY June 30, 2025 538 $444,340 47.9%
MRK June 30, 2025 4,494 $403,381 76.4%
CRS March 31, 2026 1,210 $380,866 -1.3%
CMCSA March 31, 2026 12,270 $366,743 -25.2%
SLGN June 30, 2026 8,960 $347,648 -25.2%
SCHD June 30, 2025 12,066 $337,374 25.3%
HYS March 31, 2026 3,534 $335,093
GTLS June 30, 2025 2,291 $330,729 No longer tracked
VIS June 30, 2026 1,035 $323,175
SPMB March 31, 2026 12,195 $273,350
TSLA Dec. 31, 2025 600 $266,832 -16.5%
ACWV March 31, 2026 2,047 $243,126
HYMB March 31, 2026 9,669 $241,133 -4.5%
NET March 31, 2026 1,175 $231,651 72.7%
AES March 31, 2026 15,393 $220,736 5.8%
RKLB March 31, 2026 3,100 $216,256 12.9%
XLK March 31, 2026 1,502 $216,243 51.1%
PLD June 30, 2025 1,870 $209,073 22.7%
SMH June 30, 2025 965 $204,076 126.3%
LLY Dec. 31, 2025 265 $202,348 7.3%
RDDT March 31, 2026 875 $201,136 11.0%