Sector breakdown

04
Technology 6.4%
Communication Services 1.3%
Healthcare 1.2%
Financials 1.2%
Retail 0.6%
Industrials 0.5%
Energy 0.4%
Consumer Discretionary 0.4%
Consumer products 0.1%
Materials 0.0%
Other/Unmapped 87.9%

Full portfolio 158 positions

05
Type Streak 8Q trend
IEF iShares 7-10 Year Treasury Bond ETF $77,865,618 10.29% 823,365 $4,886,389 Up ×6
SPY SPY $70,330,696 9.30% 94,180 $10,107,949 Up ×6
EZU iShares MSCI Eurozone ETF $64,051,898 8.47% 921,610 $7,671,567 Up ×5
PHYS Sprott Physical Gold Trust ETV $63,955,985 8.46% 2,119,854 $-9,242,430 Up ×2
USCI United States Commodity Index Fund ETV $33,773,551 4.47% 364,568 $823,949 Up ×6
SPEM State Street SPDR Portfolio Emerging Markets ETF $33,550,966 4.44% 647,952 $5,532,713 Up ×6
RSPG Invesco Exchange-Traded Fund Trust $30,514,841 4.03% 311,503 $-1,473,581 Up ×4
COWZ Pacer Funds Trust $26,983,556 3.57% 433,819 $1,782,114 Up ×3
RSP Invesco Exchange-Traded Fund Trust $26,746,701 3.54% 125,707 $1,783,194 Down ×2
FEZ SPDR INDEX SHARES FUNDS $21,529,814 2.85% 313,480 $3,852,516 Up ×5
XLU XLU $19,255,058 2.55% 424,681 $1,863,115 Up ×4
VTV Vanguard Morningstar Value ETF $16,672,017 2.20% 76,502 $3,214,697 Up ×1
XLP XLP $16,197,328 2.14% 194,984 $2,898,278 Up ×2
DUHP Dimensional ETF Trust $15,607,876 2.06% 374,021 $2,497,644 Up ×1
CEF Sprott Physical Gold and Silver Trust Units $13,301,228 1.76% 330,630 $-2,735,536 Down ×2
AAPL Apple Inc. - Common Stock $10,323,586 1.36% 35,677 $1,136,650 Down ×2
SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF $10,313,136 1.36% 363,267 $-357,835 Down ×1
HYGH iShares U.S. ETF Trust $9,156,691 1.21% 105,723 $-1,281,144 Down ×1
TBLL Invesco Short Term Treasury ETF $8,223,576 1.09% 77,897 $270,873 Up ×1
FLRN SPDR SERIES TRUST $6,849,391 0.91% 222,022 $-87,074 Down ×1
IEMG iShares, Inc. $6,385,996 0.84% 77,088 $3,924,702 Up ×4
CRDO Credo Technology Group Holding Ltd - Ordinary Shares $5,753,918 0.76% 21,158 $3,785,370 Up ×1
QQQ Invesco QQQ Trust, Series 1 $5,314,141 0.70% 7,216 $454,362 Down ×3
UNH UnitedHealth Group Incorporated Common Stock (DE) $5,126,512 0.68% 12,334 $1,752,415 Down ×1
NVDA NVIDIA Corporation - Common Stock $4,918,075 0.65% 24,579 $1,165,764 Up ×1
GLD SPDR Gold Shares $4,894,756 0.65% 13,287 $-876,400 Down ×2
BTC Grayscale Bitcoin Mini Trust (BTC) $4,431,404 0.59% 170,767 $-513,257 Up ×4
GOOG Alphabet Inc. - Class C Capital Stock $4,361,200 0.58% 12,343 $590,360 Down ×3
MSFT Microsoft Corporation - Common Stock $4,301,516 0.57% 11,532 $390,841 Up ×2
TLT iShares 20+ Year Treasury Bond ETF $4,029,827 0.53% 46,631 $-262,954 Down ×1
ORCL Oracle Corporation Common Stock $3,423,470 0.45% 23,360 $366,980 Up ×3
VTI Vanguard Morningstar Total Stock Market ETF $3,240,105 0.43% 8,756 $244,479 Down ×3
META Meta Platforms, Inc. - Class A Common Stock $3,232,675 0.43% 5,739 $2,380,835 Up ×1
TBIL F/m US Treasury 3 Month Bill Fund $3,218,559 0.43% 64,552 $-161,364 Down ×1
ETH Grayscale Ethereum Staking Mini ETF Shares $3,090,908 0.41% 205,649 $-537,300 Up ×3
SGOL abrdn Physical Gold Shares ETF $2,921,186 0.39% 76,411 $-407,950 Up ×1
NOW ServiceNow, Inc. Common Stock $2,908,010 0.38% 29,291
EWZ iShares MSCI Brazil ETF $2,889,068 0.38% 83,741 $-270,812 Up ×3
SPTS State Street SPDR Portfolio Short Term Treasury ETF $2,876,489 0.38% 99,155 $169,423 Up ×1
XLF SELECT SECTOR SPDR TRUST $2,845,794 0.38% 53,083 Up ×1
HOOD Robinhood Markets, Inc. - Class A Common Stock $2,801,121 0.37% 27,933 $759,751 Down ×6
SDCI USCF ETF Trust $2,685,564 0.36% 101,572 Up ×1
MSTR Strategy Inc - Class A Common Stock $2,636,674 0.35% 30,331 $-372,878 Up ×1
IUSV iShares Core S&P U.S. Value ETF $2,458,430 0.33% 22,319 $140,248 Down ×2
IBIT iShares Bitcoin Trust ETF $2,313,932 0.31% 69,508 $-351,891 Up ×1
XLE SELECT SECTOR SPDR TRUST $2,260,844 0.30% 42,569 $566,408 Up ×3
PATH UiPath, Inc. Class A Common Stock $2,216,360 0.29% 203,897 $-143,245 Down ×1
IEFA iShares Core MSCI EAFE ETF $2,199,876 0.29% 22,778 $84,385 Down ×1
AMZN Amazon.com, Inc. - Common Stock $2,158,301 0.29% 9,056 $23,002 Down ×3
EWU iShares MSCI United Kingdom ETF $2,106,955 0.28% 45,664 $-144,347 Down ×1
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF $2,044,788 0.27% 22,522 $179,127 Down ×2
DFUV Dimensional ETF Trust $2,038,621 0.27% 37,059 $383,938 Up ×1
QXO QXO, Inc. Common Stock $2,008,333 0.27% 116,223 $10,034 Up ×1
NU Nu Holdings Ltd. Class A Ordinary Shares $1,955,160 0.26% 146,344 $-158,729 Down ×1
OUNZ VanEck Merk Gold ETF $1,859,999 0.25% 48,199 $1,358,818 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $1,768,168 0.23% 4,948 $351,813 Up ×2
IUSG iShares Core S&P U.S. Growth ETF $1,733,022 0.23% 9,214 $81,369 Down ×3
IGV iShares Expanded Tech-Software Sector ETF $1,699,666 0.22% 18,760 Up ×1
AAP Advance Auto Parts Inc. $1,603,161 0.21% 25,766 Up ×1
JPM JP Morgan Chase & Co. Common Stock $1,565,962 0.21% 4,784 $168,696 Up ×1
TEAM Atlassian Corporation - Class A Common Stock $1,558,289 0.21% 20,032 $175,339 Down ×1
FSLY Fastly, Inc. - Class A Common Stock $1,494,302 0.20% 81,389 Up ×1
PLTR Palantir Technologies Inc. - Class A Common Stock $1,485,559 0.20% 12,733 $-228,989 Up ×5
QUAL iShares Trust $1,482,395 0.20% 6,756 $151,513 Down ×6
VNOM Viper Energy, Inc. - Class A Common Stock $1,460,546 0.19% 34,447 $-162,818 Down ×1
CRWV CoreWeave, Inc. - Class A Common Stock $1,370,467 0.18% 13,768 $298,979 Down ×1
Unknown issuer (CUSIP: 438516205) $1,361,536 0.18% 6,081 Up ×1
BMNR BitMine Immersion Technologies, Inc. Common Stock $1,356,316 0.18% 101,902 $-281,013 Up ×1
IBM International Business Machines Corporation Common Stock $1,346,105 0.18% 4,787 $72,993 Down ×1
IJH iShares Trust $1,344,696 0.18% 17,439 $-76,304 Down ×5
Unknown issuer (CUSIP: 43849R105) $1,344,387 0.18% 6,081 Up ×1
TSLA Tesla, Inc. - Common Stock $1,327,780 0.18% 3,157 $163,213 Up ×1
SPYV State Street SPDR Portfolio S&P 500 Value ETF $1,306,815 0.17% 21,497 $47,615 Down ×3
VOO Vanguard S&P 500 ETF $1,242,983 0.16% 1,810 $175,351 Up ×3
VDC Vanguard Consumer Staples ETF $1,199,990 0.16% 5,322 $123,268 Up ×2
AAAU Goldman Sachs Physical Gold ETF Shares $1,193,258 0.16% 30,156 $-97,030 Up ×1
CPER United States Copper Index Fund ETV $1,170,385 0.15% 31,020 $-150,384 Down ×3
JNJ Johnson & Johnson Common Stock $1,169,572 0.15% 4,605 $61,056 Up ×1
WTV WisdomTree Trust $1,166,741 0.15% 11,470 $75,771 Down ×2
QURE uniQure N.V. - Ordinary Shares $1,155,369 0.15% 25,084 $728,340 Down ×1
SMH SMH $1,149,931 0.15% 1,753 $488,475 Up ×1
EQT EQT Corporation Common Stock $1,101,498 0.15% 20,717 Up ×1
IVV iShares Trust $1,044,809 0.14% 1,395 $258,635 Up ×2
AEXA American Exceptionalism Acquisition Corp. A Class A Ordinary Shares $980,753 0.13% 82,974 $-108,236 Down ×2
BLOK Amplify ETF Trust $959,020 0.13% 15,312 $157,845 Down ×5
SPYM State Street SPDR Portfolio S&P 500 ETF $917,331 0.12% 10,438 Up ×1
CL Colgate-Palmolive Company Common Stock $875,763 0.12% 9,552 $71,655 Up ×6
VEA Vanguard FTSE Developed Markets ETF $859,794 0.11% 12,067 $67,270 Down ×1
PRK CUSIP: 700658107 $827,691 0.11% 4,523 $92,964 Up ×2
PAVE Global X Funds $798,299 0.11% 13,549 $109,881
OSCR Oscar Health, Inc. Class A Common Stock $708,152 0.09% 24,830 $70,202 Down ×3
DBA Invesco DB Agriculture Fund $669,604 0.09% 25,107 Up ×1
JD JD.com, Inc. - American Depositary Shares $660,976 0.09% 25,941 $-51,661 Up ×1
NVO Novo Nordisk A/S Common Stock $630,109 0.08% 13,144 $259,559 Up ×1
PSLV Sprott Physical Silver Trust ETV $622,540 0.08% 32,991 $-182,110
LLY Eli Lilly and Company Common Stock $619,410 0.08% 516 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $610,476 0.08% 1,220 $-74,031 Down ×2
TPR Tapestry, Inc. Common Stock $600,546 0.08% 4,103 $-78,825 Down ×2
MU Micron Technology, Inc. - Common Stock $572,074 0.08% 496 Up ×1
NYF iShares Trust $533,183 0.07% 9,891 $165,634 Up ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
IEF $77,865,618 10.29% up ×6
SPY $70,330,696 9.30% up ×6
EZU $64,051,898 8.47% up ×5
USCI $33,773,551 4.47% up ×6
SPEM $33,550,966 4.44% up ×6
RSPG $30,514,841 4.03% up ×4
COWZ $26,983,556 3.57% up ×3
FEZ $21,529,814 2.85% up ×5
XLU $19,255,058 2.55% up ×4
IEMG $6,385,996 0.84% up ×4
BTC $4,431,404 0.59% up ×4
ORCL $3,423,470 0.45% up ×3
ETH $3,090,908 0.41% up ×3
EWZ $2,889,068 0.38% up ×3
XLE $2,260,844 0.30% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
NOW $2,908,010 29,291 0.38%
XLF $2,845,794 53,083 0.38%
SDCI $2,685,564 101,572 0.36%
IGV $1,699,666 18,760 0.22%
AAP $1,603,161 25,766 0.21%
FSLY $1,494,302 81,389 0.20%
Unknown issuer (CUSIP: 438516205) $1,361,536 6,081 0.18%
Unknown issuer (CUSIP: 43849R105) $1,344,387 6,081 0.18%
EQT $1,101,498 20,717 0.15%
SPYM $917,331 10,438 0.12%
DBA $669,604 25,107 0.09%
LLY $619,410 516 0.08%
MU $572,074 496 0.08%
AMD $444,956 766 0.06%
RBLX $434,714 7,994 0.06%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPY Bought more +2K +$10.1M
PHYS Bought more +54K -$9.2M
EZU Bought more +22K +$7.7M
SPEM Bought more +51K +$5.5M
IEF Bought more +59K +$4.9M
IEMG Bought more +42K +$3.9M
FEZ Bought more +29K +$3.9M
CRDO Bought more +187 +$3.8M
VTV Bought more +8K +$3.2M
XLP Bought more +33K +$2.9M

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
MARA Dec. 31, 2025 365,197 $6,668,491 24.4%
SIVR March 31, 2026 44,792 $3,029,731
NVO Dec. 31, 2025 47,076 $2,612,274 -26.2%
HYMB June 30, 2025 97,063 $2,447,940 -4.4%
ACHR March 31, 2026 320,347 $2,409,012 -8.7%
UUUU March 31, 2026 153,658 $2,234,187 No longer tracked
HON June 30, 2026 9,517 $2,151,203 -4.4%
ZGN March 31, 2026 204,757 $2,098,759 20.3%
CLSK Dec. 31, 2025 142,340 $2,063,928 23.3%
CRM March 31, 2026 7,735 $2,049,109 23.1%
AMD March 31, 2026 9,517 $2,038,138 210.5%
SNY Sept. 30, 2025 38,229 $1,846,843 -16.3%
AEO March 31, 2026 67,774 $1,787,188 8.4%
UAL Sept. 30, 2025 22,420 $1,785,305 14.0%
GEO March 31, 2026 107,799 $1,737,720 92.4%
GLPG Dec. 31, 2025 47,536 $1,646,647 No longer tracked
ETHV March 31, 2026 37,221 $1,616,892
RTAC June 30, 2026 149,399 $1,535,822 -0.5%
ZS June 30, 2025 7,570 $1,502,039 -35.7%
FTNT March 31, 2026 18,833 $1,495,529 125.3%
MKTX Dec. 31, 2025 8,312 $1,448,366 -9.5%
NLR Dec. 31, 2025 8,664 $1,175,250 -14.8%
CROX Dec. 31, 2025 13,728 $1,146,974 38.2%
HD Sept. 30, 2025 3,116 $1,142,566 -30.6%
AMN Dec. 31, 2025 58,619 $1,134,864 133.8%
LULU Dec. 31, 2025 6,194 $1,102,098 -55.2%
CRWD Sept. 30, 2025 2,158 $1,099,091 -44.4%
NICE Dec. 31, 2025 7,002 $1,013,750 2.5%
SIL Dec. 31, 2025 13,964 $1,000,218 3.1%
MSTR Dec. 31, 2025 2,950 $950,626 8.2%
REAX March 31, 2026 251,860 $919,289 -34.2%
DDOG Sept. 30, 2025 6,526 $876,638 94.1%
ROOT Dec. 31, 2025 9,788 $876,124 -34.3%
KNG June 30, 2025 16,250 $820,927
TIC June 30, 2026 109,782 $722,366 2.1%
STIP Sept. 30, 2025 6,984 $718,687
MDB Sept. 30, 2025 3,406 $715,226 15.7%
CDZI June 30, 2026 143,088 $702,562 -14.6%
CSAN June 30, 2026 166,237 $684,896 No longer tracked
TLT Sept. 30, 2025 7,344 $648,096
IYM Sept. 30, 2025 4,526 $633,654
NOW June 30, 2025 752 $598,697 -33.8%
MBLY Dec. 31, 2025 41,746 $589,454 -27.4%
GBTC June 30, 2026 10,665 $562,685 45.5%
HUBS Dec. 31, 2025 1,200 $561,360 -45.0%
GOVT March 31, 2026 24,056 $553,884
WGMI Dec. 31, 2025 12,507 $553,302
BIDU Dec. 31, 2025 4,155 $547,503 -33.4%
HIMS Dec. 31, 2025 9,470 $537,138 -8.6%
ESGU June 30, 2025 4,291 $523,077
AIRS Dec. 31, 2025 64,494 $517,242 -3.5%
IREN Dec. 31, 2025 10,224 $479,806 7.2%
FLOC Dec. 31, 2025 31,365 $465,771 -1.3%
BUFQ June 30, 2026 10,206 $360,476
PYPL Sept. 30, 2025 4,699 $349,230 -18.9%
VRT June 30, 2025 4,640 $335,009 97.5%
DIS June 30, 2025 3,300 $325,709 -16.5%
DBC Sept. 30, 2025 14,690 $320,380
ETHE Dec. 31, 2025 9,163 $314,014 -10.8%
NKE Dec. 31, 2025 4,484 $312,650 -46.7%
PDBC June 30, 2026 17,313 $299,864
OKLO June 30, 2025 13,337 $288,479 -35.8%
BSCP June 30, 2025 13,884 $287,127 No longer tracked
FTLS Sept. 30, 2025 4,203 $278,571
DIHP June 30, 2026 8,465 $272,748
IWN June 30, 2026 1,407 $266,781 -3.6%
HYHG June 30, 2026 4,175 $266,013
IDNA Dec. 31, 2025 11,067 $261,353
IJT March 31, 2026 1,797 $253,659
CB June 30, 2026 758 $247,022 -3.0%
RILY Dec. 31, 2025 39,884 $238,307 4.5%
DAL March 31, 2026 3,382 $234,726 25.0%
VCIT June 30, 2025 2,786 $227,785
SPIB June 30, 2025 6,835 $227,198
URA Dec. 31, 2025 4,758 $226,803 -5.9%
ASML Sept. 30, 2025 280 $224,287 92.1%
SPSM March 31, 2026 4,698 $220,153 11.9%
ARKF Dec. 31, 2025 3,799 $215,809
RKLB March 31, 2026 3,063 $213,675 13.7%
XLI Dec. 31, 2025 1,370 $211,335 9.7%
MBB Sept. 30, 2025 2,194 $205,958
IVW March 31, 2026 1,670 $205,798 28.4%
PTON June 30, 2025 32,496 $205,375 -27.8%
VB March 31, 2026 796 $205,223
NFLX Dec. 31, 2025 171 $205,015 -28.0%
VRSK March 31, 2026 911 $203,831 -13.9%
PBP March 31, 2026 8,869 $202,476
DFLV March 31, 2026 5,903 $201,940
DFLV June 30, 2025 6,603 $201,865
BSCP Dec. 31, 2025 9,716 $201,026 No longer tracked
ACI Dec. 31, 2025 10,000 $175,100 -33.0%
PGF June 30, 2026 10,481 $144,217
ISSC Dec. 31, 2025 10,000 $124,900 No longer tracked
AGNC June 30, 2026 11,384 $114,183 -20.6%
BKT June 30, 2026 10,226 $108,084 -11.1%
RPAY March 31, 2026 23,546 $85,943 50.0%
ANNX Dec. 31, 2025 20,572 $62,745 -16.3%
WULF Sept. 30, 2025 12,798 $56,055 29.5%
CIFR Sept. 30, 2025 10,521 $50,290 23.0%