Sector breakdown

04
Technology 4.2%
Retail 1.9%
Financials 1.9%
Healthcare 1.8%
Communication Services 1.6%
Utilities 1.3%
Industrials 0.8%
Consumer Discretionary 0.6%
Energy 0.4%
Consumer Staples 0.2%
Consumer products 0.1%
Real Estate 0.1%
Other/Unmapped 85.0%

Full portfolio 155 positions

05
Type Streak 8Q trend
SPY SPY $34,727,070 10.79% 46,445 $2,474,912 Down ×5
VOO VANGUARD INDEX FUNDS $25,623,707 7.96% 37,294 $2,671,491 Down ×6
TFLO iShares Trust $22,822,876 7.09% 451,670 $1,347,780 Up ×6
SPYM State Street SPDR Portfolio S&P 500 ETF $19,560,399 6.08% 222,277 $4,852,252 Up ×6
IBTH iShares Trust $18,754,955 5.83% 840,464 $762,474 Up ×6
IBTI iShares Trust $18,570,118 5.77% 841,610 $730,498 Up ×6
IBTG iShares Trust $18,490,731 5.75% 809,577 $721,396 Up ×6
DIA State Street SPDR Dow Jones Industrial Average ETF Trust $16,062,913 4.99% 30,396 $1,613,724 Down ×6
IBTJ iShares Trust $14,274,094 4.44% 661,757 $937,369 Up ×6
IBTK iShares Trust $13,848,629 4.30% 712,012 $620,329 Up ×2
XLK SELECT SECTOR SPDR TRUST $6,085,941 1.89% 33,966 $1,448,845 Up ×6
SPTS SPDR SERIES TRUST $5,887,030 1.83% 203,633 $1,611,876 Up ×6
AAPL Apple Inc. - Common Stock $4,248,587 1.32% 13,676 $812,000 Up ×1
MSFT Microsoft Corporation - Common Stock $2,975,061 0.92% 7,651 $-101,507 Down ×4
ISTB iShares Core 1-5 Year USD Bond ETF $2,857,407 0.89% 59,455 $202,961 Up ×4
DYNF BlackRock ETF Trust $2,597,658 0.81% 38,610 $296,280 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $2,439,771 0.76% 6,647 $264,591 Down ×3
SPYG SPDR SERIES TRUST $2,429,344 0.75% 20,623 $228,862 Down ×1
VIG VANGUARD SPECIALIZED FUNDS $2,312,315 0.72% 9,680 $172,951 Down ×1
QQQ Invesco QQQ Trust, Series 1 $2,186,590 0.68% 3,082 $252,378 Down ×4
IVV iShares Trust $2,170,336 0.67% 2,890 $254,985 Down ×3
AVGO Broadcom Inc. - Common Stock $2,094,420 0.65% 5,649 $-14,360 Down ×5
AMGN Amgen Inc. - Common Stock $2,073,308 0.64% 5,632 $152,492 Down ×2
SRE DBA Sempra Common Stock $2,068,912 0.64% 21,872 $21,047 Up ×1
CORO iShares International Country Rotation Active ETF $2,002,394 0.62% 55,777 Up ×1
AMZN Amazon.com, Inc. - Common Stock $1,961,400 0.61% 7,974 $223,275 Down ×5
IVW iShares Trust $1,641,156 0.51% 12,062 $245,221
NVDA NVIDIA Corporation - Common Stock $1,567,781 0.49% 7,961 $178,242 Up ×2
SPYV SPDR SERIES TRUST $1,563,232 0.49% 25,295 $-463,717 Down ×1
COST Costco Wholesale Corporation - Common Stock $1,560,545 0.48% 1,647 $-236,900 Down ×4
VUG VANGUARD INDEX FUNDS $1,492,765 0.46% 17,382 $431,774 Up ×3
XLY XLY $1,467,452 0.46% 12,501 $12,859 Down ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,450,512 0.45% 2,878 $33,483 Down ×4
XLF SELECT SECTOR SPDR TRUST $1,409,816 0.44% 25,153 $127,132 Down ×1
IYW iShares Trust $1,388,399 0.43% 5,707 $242,436 Down ×1
QCOM QUALCOMM Incorporated - Common Stock $1,272,058 0.40% 6,952 $361,926 Down ×2
USFR WisdomTree Trust $1,229,609 0.38% 24,397 $-30,136 Down ×1
GOOG Alphabet Inc. - Class C Capital Stock $1,208,330 0.38% 3,323 $79,520 Down ×1
AFL AFLAC Incorporated Common Stock $1,165,434 0.36% 9,593 $113,569 Up ×3
XLI SELECT SECTOR SPDR TRUST $1,105,232 0.34% 6,060 $109,849 Up ×3
DVY iShares Select Dividend ETF $1,102,381 0.34% 6,898 $13,148 Down ×2
ESGU iShares ESG Aware MSCI USA ETF $1,089,229 0.34% 6,638 $136,676
XLV SELECT SECTOR SPDR TRUST $1,078,956 0.34% 6,561 $86,993 Down ×1
IVE iShares Trust $1,026,971 0.32% 4,450 $83,304
THRO iShares U.S. Thematic Rotation Active ETF $995,847 0.31% 23,333 $-20,537 Down ×1
MCD McDonald's Corporation Common Stock $990,583 0.31% 3,510 $-126,104 Down ×5
BINC iShares Flexible Income Active ETF $989,294 0.31% 18,952 $95,595 Up ×6
XLC SELECT SECTOR SPDR TRUST $905,701 0.28% 8,158 $-6,527
BAI iShares A.I. Innovation and Tech Active ETF $900,114 0.28% 19,757 $55,631 Down ×1
JPM JP Morgan Chase & Co. Common Stock $854,851 0.27% 2,520 $114,745 Up ×1
QUAL iShares Trust $833,509 0.26% 3,828 $-721,317 Down ×1
SDY SPDR SERIES TRUST $802,414 0.25% 5,156 $31,251 Down ×4
AZO AutoZone, Inc. Common Stock $744,116 0.23% 242 $-89,086 Down ×1
WMT Walmart Inc. - Common Stock $693,200 0.22% 6,215 $-176,018 Down ×1
XLP XLP $688,016 0.21% 8,108 $30,398 Up ×1
GLD SPDR Gold Shares $679,105 0.21% 1,799 $-97,721
FDX FedEx Corporation Common Stock $662,993 0.21% 2,119 $-92,062 Up ×1
ILCG iShares Trust $662,991 0.21% 5,810 $95,929 Up ×4
SBUX Starbucks Corporation - Common Stock $655,203 0.20% 6,324 $29,037 Down ×5
SHLD Global X Funds $639,378 0.20% 10,023 $149,443 Up ×3
CAT Caterpillar, Inc. Common Stock $637,070 0.20% 678 $150,086 Up ×3
RSP Invesco Exchange-Traded Fund Trust $635,386 0.20% 2,959 $62,849
MRK Merck & Company, Inc. Common Stock (new) $633,848 0.20% 4,919 $47,123
IBIG iShares Trust $622,403 0.19% 24,265 $26,987 Up ×1
AEP American Electric Power Company, Inc. - Common Stock $614,594 0.19% 4,469 $-69,643 Down ×4
SPMO Invesco Exchange-Traded Fund Trust II $604,103 0.19% 4,043 $-233,874 Down ×1
IALT iShares Systematic Alternatives Active ETF $598,372 0.19% 21,249 Up ×1
BAC Bank of America Corporation Common Stock $597,986 0.19% 9,990 $100,133 Up ×1
VTV VANGUARD INDEX FUNDS $591,741 0.18% 2,695 $99,174 Up ×1
GARP iShares Trust $580,526 0.18% 7,243 $106,472
PHYS Sprott Physical Gold Trust ETV $569,034 0.18% 18,350 $-523,628 Down ×1
INTC Intel Corporation - Common Stock $565,749 0.18% 5,125 $285,591 Down ×2
VTI VANGUARD INDEX FUNDS $562,828 0.17% 1,523 $70,670 Up ×1
IEMG iShares, Inc. $552,860 0.17% 6,929 $-729,460 Down ×2
ABBV AbbVie Inc. Common Stock $551,621 0.17% 2,166 $-7,845 Down ×2
PM Philip Morris International Inc Common Stock $543,322 0.17% 2,893 $24,207 Down ×3
CVS CVS Health Corporation Common Stock $539,860 0.17% 5,175 $136,594 Up ×1
XOM Exxon Mobil Corporation Common Stock $522,676 0.16% 3,689 $-124,563 Down ×2
NEE NextEra Energy, Inc. Common Stock $516,009 0.16% 5,833 $-73,315 Down ×5
IBIC iShares Trust $504,969 0.16% 19,760 $30,021 Up ×1
BLCR iShares Large Cap Core Active ETF $503,191 0.16% 10,215 Up ×1
BSRR Sierra Bancorp - Common Stock $502,040 0.16% 12,320 $75,645
IBIE iShares Trust $486,636 0.15% 18,932 $27,288 Up ×1
IBID iShares Trust $484,844 0.15% 18,880 $29,627 Up ×1
IBIF iShares Trust $473,271 0.15% 18,422 $27,835 Up ×1
RTX RTX Corporation Common Stock $472,151 0.15% 2,351 $-12,483 Down ×2
EFA iShares Trust $449,138 0.14% 4,312 $-1,108 Down ×1
PG Procter & Gamble Company (The) Common Stock $445,229 0.14% 2,915 $28,011 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $444,414 0.14% 722 $34,495 Up ×1
IWF iShares Trust $443,584 0.14% 3,655 $48,586 Up ×1
IJK iShares Trust $441,055 0.14% 3,874 $44,629
USMV iShares Trust $438,686 0.14% 4,460 $22,927
MCK McKesson Corporation Common Stock $436,766 0.14% 541 $-24,952 Up ×1
SYY Sysco Corporation Common Stock $434,050 0.13% 5,129 $56,908 Down ×1
CVX Chevron Corporation Common Stock $431,978 0.13% 2,482 $-157,002 Down ×3
SSO ProShares Trust $431,936 0.13% 6,400 $91,136
JNJ Johnson & Johnson Common Stock $431,057 0.13% 1,613 $-7,951 Down ×1
VGT VANGUARD WORLD FUND $425,110 0.13% 3,727 $21,602 Up ×2
VXF VANGUARD INDEX FUNDS $416,646 0.13% 1,725 $55,764
SUSL iShares ESG MSCI USA Leaders ETF $414,957 0.13% 3,130 $55,132

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
TFLO $22,822,876 7.09% up ×6
SPYM $19,560,399 6.08% up ×6
IBTH $18,754,955 5.83% up ×6
IBTI $18,570,118 5.77% up ×6
IBTG $18,490,731 5.75% up ×6
IBTJ $14,274,094 4.44% up ×6
XLK $6,085,941 1.89% up ×6
SPTS $5,887,030 1.83% up ×6
ISTB $2,857,407 0.89% up ×4
VUG $1,492,765 0.46% up ×3
AFL $1,165,434 0.36% up ×3
XLI $1,105,232 0.34% up ×3
BINC $989,294 0.31% up ×6
ILCG $662,991 0.21% up ×4
SHLD $639,378 0.20% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
CORO $2,002,394 55,777 0.62%
IALT $598,372 21,249 0.19%
BLCR $503,191 10,215 0.16%
BIV $379,206 4,983 0.12%
GGOV $303,163 6,056 0.09%
STIP $257,353 2,540 0.08%
MU $253,363 270 0.08%
VPL $219,302 1,953 0.07%
AMD $212,121 411 0.07%
LLY $208,842 169 0.06%
SYSB $201,604 2,292 0.06%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPYM Bought more +33K +$4.9M
VOO Trimmed -578 +$2.7M
SPY Trimmed -2K +$2.5M
DIA Trimmed -619 +$1.6M
SPTS Bought more +57K +$1.6M
XLK Bought more +224 +$1.4M
TFLO Bought more +27K +$1.3M
IBTJ Bought more +49K +$937K
AAPL Bought more +119 +$812K
IBTH Bought more +36K +$762K

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
IBTF Dec. 31, 2025 533,571 $12,424,205 No longer tracked
MGC June 30, 2026 4,440 $1,064,142
MKSI Sept. 30, 2025 6,000 $604,320 125.5%
IBIB Dec. 31, 2025 14,204 $358,935
XCEM June 30, 2025 10,380 $281,817
STIP Dec. 31, 2025 2,720 $280,813
BX June 30, 2026 2,435 $274,498 -5.0%
T June 30, 2026 9,461 $265,296 17.4%
EXG June 30, 2026 29,011 $256,167 -4.0%
ORCL March 31, 2026 1,302 $250,757 -3.3%
EPD June 30, 2026 6,525 $250,625 -1.6%
MBB March 31, 2026 2,611 $249,006
RIO June 30, 2026 2,565 $242,765 -0.8%
IBDQ Sept. 30, 2025 9,451 $237,122
CME June 30, 2026 750 $232,935 19.2%
ENB Dec. 31, 2025 4,490 $222,659 -3.9%
VDE June 30, 2026 1,301 $221,858
SHEL March 31, 2026 2,900 $217,587 3.5%
VNQ June 30, 2026 2,394 $216,633
MAIN March 31, 2026 3,427 $213,982 4.1%
HD March 31, 2026 621 $213,649 -14.0%
DIS March 31, 2026 1,868 $213,087 6.0%
IBDS Dec. 31, 2025 8,720 $211,800
IBDR Dec. 31, 2025 8,717 $211,205
VHT June 30, 2026 774 $211,053
ABT Dec. 31, 2025 1,568 $209,279 -22.2%
FE June 30, 2026 4,089 $208,539 -8.8%
MA March 31, 2026 365 $207,535 10.5%
HON Sept. 30, 2025 864 $206,259 7.9%
PEP Sept. 30, 2025 1,521 $205,664 -10.4%
D March 31, 2026 3,478 $204,149 -0.8%
UTL Sept. 30, 2025 3,859 $203,624 7.0%
VBK Dec. 31, 2025 679 $202,817
IBDT Sept. 30, 2025 7,962 $201,439
DIS Sept. 30, 2025 1,630 $201,289 -10.8%
SLRC June 30, 2025 10,050 $148,037 -28.4%
BIZD June 30, 2025 10,100 $143,622
NVG Sept. 30, 2025 10,350 $124,304 -12.9%
MHD June 30, 2026 10,638 $121,911 -13.2%
EVM Dec. 31, 2025 11,105 $106,610 No longer tracked
JPC June 30, 2026 10,700 $81,641 -12.3%