Sector breakdown

04
Financials 55.9%
Real Estate 3.5%
Technology 0.5%
Energy 0.5%
Other/Unmapped 39.6%

Full portfolio 23 positions

05
Type Streak 8Q trend
PFFA ETFis Series Trust I $30,066,862 17.31% 1,461,685 $14,293,347 Up ×4
TRIN Trinity Capital Inc. - Common Stock $24,221,234 13.95% 1,353,898 $5,136,888 Up ×6
JEPI J.P. Morgan Exchange-Traded Fund Trust $22,852,156 13.16% 404,606 $9,220 Up ×3
YBTC Roundhill ETF Trust $10,973,983 6.32% 663,883 $-1,686,220 Up ×4
BCSF Bain Capital Specialty Finance, Inc. Common Stock $10,926,867 6.29% 872,753 $-3,495,428 Down ×1
GAIN Gladstone Investment Corporation - Business Development Company $10,146,601 5.84% 656,313 $-5,040,103 Down ×3
CSWC Capital Southwest Corporation - Common Stock $8,979,358 5.17% 377,760 $-2,423,018 Down ×1
HTGC Hercules Capital, Inc. Common Stock $8,734,596 5.03% 553,874 $-3,077,094 Down ×3
OCSL Oaktree Specialty Lending Corporation - Closed End Fund $8,707,158 5.01% 729,243 $-5,317,286 Down ×1
ARCC Ares Capital Corporation - Closed End Fund $8,531,960 4.91% 460,440 $-6,170,413 Down ×1
OBDC Blue Owl Capital Corporation Common Stock $8,458,670 4.87% 778,167 $-4,962,425 Down ×1
TSLX Sixth Street Specialty Lending, Inc. Common Stock $8,350,408 4.81% 486,337 $-2,880,608 Down ×3
SACH CUSIP: 78590A109 $2,642,168 1.52% 2,806,935 $-213,254 Down ×6
RITM Rithm Capital Corp. Common Stock $2,388,532 1.38% 254,370 $10,362 Up ×6
LOAN Manhattan Bridge Capital, Inc - Common Stock $1,973,621 1.14% 436,642 $10,148 Down ×2
JEPQ JPMorgan Nasdaq Equity Premium Income ETF $1,796,353 1.03% 29,228 $298,423 Up ×6
LFT Lument Finance Trust, Inc. Common Stock $1,308,156 0.75% 1,421,909 $-435,354 Up ×6
MSFT Microsoft Corporation - Common Stock $932,550 0.54% 2,500 Up ×1
XOM Exxon Mobil Corporation Common Stock $549,614 0.32% 4,020 $-138,188 Down ×1
PSLV Sprott Physical Silver Trust ETV $370,286 0.21% 19,623 $-108,319
OKE ONEOK, Inc. Common Stock $364,974 0.21% 4,198 $-14,483
OHI Omega Healthcare Investors, Inc. Common Stock $270,342 0.16% 5,670 $-10,407,630 Down ×2
ABR Arbor Realty Trust Common Stock $131,014 0.08% 24,172 $-7,257,384 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
PFFA $30,066,862 17.31% up ×4
TRIN $24,221,234 13.95% up ×6
JEPI $22,852,156 13.16% up ×3
YBTC $10,973,983 6.32% up ×4
RITM $2,388,532 1.38% up ×6
JEPQ $1,796,353 1.03% up ×6
LFT $1,308,156 0.75% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
MSFT $932,550 2,500 0.54%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
PFFA Bought more +687K +$14.3M
ARCC Trimmed -355K -$6.2M
OCSL Trimmed -512K -$5.3M
TRIN Bought more +57K +$5.1M
GAIN Trimmed -413K -$5.0M
OBDC Trimmed -435K -$5.0M
BCSF Trimmed -290K -$3.5M
HTGC Trimmed -246K -$3.1M
TSLX Trimmed -125K -$2.9M
CSWC Trimmed -138K -$2.4M

2 positions hidden — reported move looks larger than the position itself (data completeness check)

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
AAPL Dec. 31, 2025 1,100 $280,093 22.7%
YETH Dec. 31, 2025 9,686 $258,319
IBIT March 31, 2026 5,151 $255,747