Sector breakdown

04
Technology 9.5%
Industrials 7.4%
Financials 2.5%
Energy 2.1%
Communication Services 1.7%
Consumer Discretionary 1.1%
Retail 1.1%
Real Estate 0.2%
Other/Unmapped 74.5%

Full portfolio 68 positions

05
Type Streak 8Q trend
BIL SPDR SERIES TRUST $6,403,712 6.28% 69,879 $-6,586,625 Down ×1
JPIE JPMorgan Income ETF $6,339,565 6.22% 137,667 $-259,732 Down ×1
PWR Quanta Services, Inc. Common Stock $6,162,102 6.05% 8,558 $1,209,942 Down ×1
GRNY Fundstrat Granny Shots US Large Cap ETF $5,652,434 5.55% 204,428 $514,751 Down ×2
WULF TeraWulf Inc. - Common Stock $3,837,812 3.77% 155,377 $1,733,196 Up ×1
JCPB JPMorgan Core Plus Bond ETF $3,512,332 3.45% 74,826 $-141,876 Down ×2
MOAT VanEck ETF Trust $2,858,172 2.80% 27,493 $53,872 Down ×2
IJR iShares Trust $2,702,505 2.65% 18,222 $320,601 Down ×3
MDY State Street SPDR S&P MIDCAP 400 ETF Trust $2,562,268 2.51% 3,643 $201,927 Down ×3
DIA State Street SPDR Dow Jones Industrial Average ETF Trust $2,527,323 2.48% 4,838 $177,097 Down ×2
GLD SPDR Gold Shares $2,502,405 2.46% 6,793 $-513,067 Down ×3
RSP Invesco Exchange-Traded Fund Trust $2,480,473 2.43% 11,658 $108,918 Down ×3
XLF SELECT SECTOR SPDR TRUST $2,428,801 2.38% 45,305 $78,838 Down ×3
AGG iShares Trust $2,379,776 2.34% 24,043 $-80,730 Down ×4
TOTL State Street DoubleLine Total Return Tactical ETF $2,212,096 2.17% 56,045 $-101,859 Down ×2
WTBN WisdomTree Bianco Total Return Fund $2,050,683 2.01% 81,542 $-109,326 Down ×2
INFL Horizon Kinetics Inflation Beneficiaries ETF $2,034,805 2.00% 40,794 $-197,111 Down ×1
AAPL Apple Inc. - Common Stock $1,887,206 1.85% 6,522 $144,176 Down ×3
QUAL iShares Trust $1,804,592 1.77% 8,224 $146,778 Down ×3
SPY SPY $1,760,884 1.73% 2,358 $25,127 Down ×1
XLU XLU $1,691,182 1.66% 37,300 $-95,224 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $1,687,144 1.66% 4,721 $622,309 Up ×1
JPM JP Morgan Chase & Co. Common Stock $1,665,455 1.63% 5,088 $108,172 Down ×1
DYNF BlackRock ETF Trust $1,637,885 1.61% 24,083 $166,222 Down ×1
POWR iShares, Inc. $1,596,404 1.57% 57,096 Up ×1
AIPO Defiance AI & Power Infrastructure ETF $1,577,620 1.55% 47,220 Up ×1
BOND PIMCO Active Bond Exchange-Traded Fund Exchange-Traded Fund $1,574,394 1.55% 17,074 $-66,344 Down ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $1,420,771 1.39% 2,975 $353,863 Down ×4
GDX VanEck Gold Miners ETF $1,351,536 1.33% 17,913 $-633,357 Down ×3
VXF Vanguard Extended Market ETF $1,332,981 1.31% 5,414 $161,979 Down ×3
COP ConocoPhillips Common Stock $1,279,644 1.26% 12,309 $-924,888 Down ×1
MSFT Microsoft Corporation - Common Stock $1,271,502 1.25% 3,409 $-52,812 Down ×1
FLTR VanEck ETF Trust $1,022,249 1.00% 39,916 $-242,706 Down ×1
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund $1,017,519 1.00% 38,368 $-32,970 Down ×1
BINC iShares Flexible Income Active ETF $1,015,448 1.00% 19,401 $-29,695 Down ×1
SPMO Invesco S&P 500 Momentum ETF $987,979 0.97% 6,116
MS Morgan Stanley Common Stock $883,194 0.87% 4,225 Up ×1
VXUS Vanguard Total International Stock ETF $863,364 0.85% 10,099 $11,221 Down ×2
AVGO Broadcom Inc. - Common Stock $794,845 0.78% 2,104 Up ×1
EEM iShares, Inc. $791,983 0.78% 11,577 $99,883 Down ×1
TSLA Tesla, Inc. - Common Stock $754,136 0.74% 1,793 Up ×1
ICSH iShares Ultra Short Duration Bond Active ETF $742,674 0.73% 14,683 $-323,839 Down ×6
TNGY Tortoise Energy ETF $704,082 0.69% 72,511 Up ×1
OIH VanEck ETF Trust $661,841 0.65% 1,779 Up ×1
TPL Texas Pacific Land Corporation Common Stock $658,648 0.65% 1,505 $-72,174 Down ×1
GSY Invesco Actively Managed Exchange-Traded Fund Trust $615,252 0.60% 12,268 $-2,499 Down ×6
GSST Goldman Sachs ETF Trust $589,528 0.58% 11,657 $-12,430 Down ×6
COWZ Pacer Funds Trust $585,489 0.57% 9,413 $-33,355 Down ×1
APH Amphenol Corporation Common Stock $492,991 0.48% 2,796 Up ×1
ETN Eaton Corporation, PLC Ordinary Shares $474,272 0.47% 1,113 Up ×1
HELO J.P. Morgan Exchange-Traded Fund Trust $468,532 0.46% 6,933 $-532,618 Down ×3
IREN IREN Limited - Ordinary Shares $432,286 0.42% 9,453 $87,086 Down ×1
AMZN Amazon.com, Inc. - Common Stock $426,390 0.42% 1,789 Up ×1
JEPI JPMorgan Equity Premium Income ETF $409,932 0.40% 7,258 $-346,916 Down ×1
CMI Cummins Inc. Common Stock $407,956 0.40% 572 Up ×1
HYD VanEck High Yield Muni ETF $401,675 0.39% 7,798 $41,168 Up ×3
ICOW Pacer Developed Markets International Cash Cows 100 ETF $367,759 0.36% 8,834 $-30,540 Down ×1
F Ford Motor Company Common Stock $347,653 0.34% 25,011 Up ×1
MLPX Global X Funds $347,012 0.34% 4,711 $-19,804 Down ×1
TJX TJX Companies, Inc. (The) Common Stock $341,481 0.34% 2,254 Up ×1
COST Costco Wholesale Corporation - Common Stock $330,221 0.32% 353 Up ×1
MINT PIMCO ETF Trust $311,529 0.31% 3,090 $4,032 Up ×1
EMLC VanEck ETF Trust $277,428 0.27% 10,854 $-11,136 Down ×3
NCLO Nushares ETF Trust $250,950 0.25% 10,006 $-7,053 Down ×1
CLOB VanEck ETF Trust $250,739 0.25% 4,964 $-5,782 Down ×1
CLOI VanEck ETF Trust $246,906 0.24% 4,663 $-7,213 Down ×1
LB LandBridge Company LLC Class A Shares Representing Limited Liability Company Interests $239,939 0.24% 3,028 Up ×1
WBI WaterBridge Infrastructure LLC Class A Shares Representing Limited Liability Company Interests $200,822 0.20% 5,860 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
HYD $401,675 0.39% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
POWR $1,596,404 57,096 1.57%
AIPO $1,577,620 47,220 1.55%
SPMO $987,979 6,116 0.97%
MS $883,194 4,225 0.87%
AVGO $794,845 2,104 0.78%
TSLA $754,136 1,793 0.74%
TNGY $704,082 72,511 0.69%
OIH $661,841 1,779 0.65%
APH $492,991 2,796 0.48%
ETN $474,272 1,113 0.47%
AMZN $426,390 1,789 0.42%
CMI $407,956 572 0.40%
F $347,653 25,011 0.34%
TJX $341,481 2,254 0.34%
COST $330,221 353 0.32%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
BIL Trimmed -72K -$6.6M
WULF Bought more +10K +$1.7M
PWR Trimmed -462 +$1.2M
COP Trimmed -4K -$925K
GDX Trimmed -4K -$633K
GOOGL Bought more +1K +$622K
HELO Trimmed -9K -$533K
GRNY Trimmed -11K +$515K
GLD Trimmed -215 -$513K
TSM Trimmed -182 +$354K

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
BIL June 30, 2025 92,411 $8,459,728
QQQ Sept. 30, 2025 10,095 $5,568,806 24.0%
SPMO March 31, 2026 31,799 $3,794,257
LQD June 30, 2025 31,887 $3,465,798
EFA March 31, 2026 22,558 $2,166,245
SPGP June 30, 2025 21,004 $2,097,880
BRTR March 31, 2026 36,334 $1,844,855
OMFL Sept. 30, 2025 29,246 $1,689,834
OAKM Sept. 30, 2025 63,281 $1,625,056
FISV June 30, 2025 6,673 $1,473,599 -73.6%
BIL Dec. 31, 2025 13,994 $1,283,950
SH June 30, 2026 31,109 $1,179,964 -3.9%
JIRE March 31, 2026 14,673 $1,098,714
HD June 30, 2025 2,928 $1,073,206 -21.8%
RWJ June 30, 2025 22,404 $911,843 32.7%
PFF June 30, 2025 29,637 $910,745
CEFS June 30, 2025 39,526 $843,090
JTEK March 31, 2026 8,275 $745,352
XLY Sept. 30, 2025 3,354 $728,925 No longer tracked
HEQT Sept. 30, 2025 23,019 $691,721
JPST June 30, 2026 11,556 $584,853
ACN Sept. 30, 2025 1,606 $480,017 -21.6%
NLR June 30, 2026 3,034 $404,098 -8.8%
EQT June 30, 2026 6,196 $394,313 -1.3%
SH June 30, 2025 8,094 $360,669 -20.0%
VST June 30, 2026 2,130 $320,203 1.2%
CEG June 30, 2026 1,127 $314,715 20.9%
EQIX Sept. 30, 2025 392 $311,824 33.7%
EYLD June 30, 2025 9,667 $306,927
CVX June 30, 2025 1,679 $280,880 45.0%
GLIN June 30, 2025 6,188 $265,250 -8.7%
BALT June 30, 2026 7,285 $243,793
IALT June 30, 2026 8,625 $235,172
FLOT June 30, 2025 4,170 $212,879
NUV Dec. 31, 2025 11,576 $103,952 -9.1%
OGEN Sept. 30, 2025 667 $2,548 No longer tracked