Sector breakdown

04
Financials 11.1%
Technology 9.5%
Health Care 6.8%
Industrials 6.4%
Communication Services 4.5%
Materials 3.6%
Consumer Staples 1.3%
Retail 1.3%
Consumer Discretionary 1.3%
Real Estate 1.2%
Energy 0.7%
Consumer products 0.4%
Other/Unmapped 52.0%

Full portfolio 166 positions

05
Type Streak 8Q trend
EWZ iShares MSCI Brazil ETF $18,987,627 6.76% 550,366 $-2,033,355 Up ×2
RPV Invesco Exchange-Traded Fund Trust $15,902,020 5.67% 139,712 $-14,028,862 Down ×1
QQQ Invesco QQQ Trust, Series 1 $15,614,626 5.56% 21,204
NBIS Nebius Group N.V. - Class A Ordinary Shares $8,285,100 2.95% 30,000 $4,134,700 Down ×1
SHY iShares 1-3 Year Treasury Bond ETF $6,938,870 2.47% 84,507 $1,760,162 Up ×2
IREN IREN Limited - Ordinary Shares $4,573,000 1.63% 100,000 $1,145,000
BBJP J.P. Morgan Exchange-Traded Fund Trust $4,244,698 1.51% 56,363 $384,567 Up ×1
EWA iShares MSCI Australia Index Fund $4,146,813 1.48% 147,259 $250,142 Up ×1
IEI iShares 3-7 Year Treasury Bond ETF $3,994,592 1.42% 34,011 $-1,130,944 Down ×1
ADBE Adobe Inc. - Common Stock $3,587,850 1.28% 17,500 $-4,919,950 Down ×1
BKLN Invesco Exchange-Traded Fund Trust II $3,300,857 1.18% 162,045 $-23,850 Down ×1
CWB SPDR SERIES TRUST $3,299,292 1.18% 30,600 $117,691 Down ×1
PBP Invesco Exchange-Traded Fund Trust $3,176,596 1.13% 138,716 $143,141 Up ×5
EMHY iShares, Inc. $3,163,656 1.13% 77,798 $141,241 Up ×5
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF $3,157,928 1.13% 32,745 $147,941 Up ×5
VYM Vanguard High Dividend Yield ETF $3,137,686 1.12% 19,855 $143,252 Down ×1
DWX SPDR INDEX SHARES FUNDS $3,121,438 1.11% 67,917 $187,184 Up ×1
REM iShares Trust $3,039,328 1.08% 137,838 $1,686,417 Up ×1
CAH Cardinal Health, Inc. Common Stock $2,927,214 1.04% 12,322 $388,747 Up ×4
L Loews Corporation Common Stock $2,909,384 1.04% 25,699 $245,260 Up ×3
IVZ Invesco Ltd Common Stock $2,789,924 0.99% 105,719 $854,181 Up ×3
CSCO Cisco Systems, Inc. - Common Stock $2,699,818 0.96% 22,985 $981,355 Up ×4
DAL Delta Air Lines, Inc. Common Stock $2,612,833 0.93% 27,897 $804,112 Up ×3
PFF iShares Preferred and Income Securities ETF $2,597,321 0.93% 85,186 $34,068 Up ×1
MU Micron Technology, Inc. - Common Stock $2,590,227 0.92% 2,244 $1,941,912 Up ×1
T AT&T Inc. $2,493,294 0.89% 120,449 $-872,097 Up ×4
IEF iShares 7-10 Year Treasury Bond ETF $2,316,398 0.83% 24,494 $-2,764,732 Down ×1
JNJ Johnson & Johnson Common Stock $2,238,746 0.80% 8,815 $162,473 Up ×1
FALN iShares Fallen Angels USD Bond ETF $2,217,418 0.79% 81,403 $89,544 Up ×5
MNST Monster Beverage Corporation - Common Stock $2,216,143 0.79% 23,056 $597,821 Up ×1
GL Globe Life Inc. Common Stock $2,207,770 0.79% 12,356 $530,215 Up ×3
HYGV FlexShares Trust $2,206,167 0.79% 54,798 $46,572 Up ×5
SHYG iShares Trust $2,205,447 0.79% 52,003 $32,575 Up ×4
JNK State Street SPDR Bloomberg High Yield Bond ETF $2,204,753 0.79% 22,878 $43,970 Up ×4
GHYG iShares US & Intl High Yield Corp Bond ETF $2,200,233 0.78% 48,581 $51,508 Up ×4
BK The Bank of New York Mellon Corporation Common Stock $2,183,611 0.78% 15,100 $454,816 Up ×1
MOH Molina Healthcare Inc Common Stock $2,172,650 0.77% 9,500 $906,300
VTR Ventas, Inc. Common Stock $2,136,972 0.76% 24,065 $241,393 Up ×1
UAL United Airlines Holdings, Inc. - Common Stock $2,111,517 0.75% 15,527 $607,185 Down ×4
HCA HCA Healthcare, Inc. Common Stock $2,000,915 0.71% 5,132 $-384,215 Up ×3
COR Cencora, Inc. Common Stock $1,974,351 0.70% 6,977 $-747,672 Down ×1
EVC Entravision Communications Corporation Common Stock $1,956,000 0.70% 150,000 $1,434,468 Down ×1
GD General Dynamics Corporation Common Stock $1,798,831 0.64% 5,078 $116,367 Up ×1
NEM Newmont Corporation $1,761,991 0.63% 18,865 $-1,075,242 Down ×1
VZ Verizon Communications Inc. Common Stock $1,723,196 0.61% 40,699 $-246,150 Up ×3
TJX TJX Companies, Inc. (The) Common Stock $1,721,798 0.61% 11,365 $-31,229 Up ×1
Unknown issuer (CUSIP: G2004J103) $1,680,145 0.60% 58,808 Up ×1
VNQ Vanguard Real Estate ETF $1,676,436 0.60% 17,385 $1,013,226 Up ×1
CBOE Cboe Global Markets, Inc. Common Stock $1,665,687 0.59% 6,864 $-198,931 Up ×1
FTAI FTAI Aviation Ltd. - Common Stock $1,623,180 0.58% 6,000 $153,180
LHX L3Harris Technologies, Inc. Common Stock $1,552,332 0.55% 5,342 $-227,607 Up ×1
F Ford Motor Company Common Stock $1,522,592 0.54% 109,539 $289,658 Up ×1
TD Toronto Dominion Bank (The) Common Stock $1,510,346 0.54% 12,438 $890,768 Up ×1
IWD iShares Russell 1000 Value ETF $1,399,064 0.50% 5,771 $-1,127,584 Down ×1
NDAQ Nasdaq, Inc. - Common Stock $1,380,453 0.49% 17,514 $-54,867 Up ×4
QQQM Invesco NASDAQ 100 ETF $1,368,818 0.49% 4,518
TOI The Oncology Institute, Inc. - Common Stock $1,357,500 0.48% 250,000 $590,000
VRSN VeriSign, Inc. - Common Stock $1,351,883 0.48% 5,374 $62,150 Up ×2
MPC Marathon Petroleum Corporation Common Stock $1,320,280 0.47% 5,164 $91,566 Up ×1
RSG Republic Services, Inc. Common Stock $1,291,052 0.46% 6,059 $8,909 Up ×2
AMD Advanced Micro Devices, Inc. - Common Stock $1,274,517 0.45% 2,194 $962,455 Up ×1
CME CME Group Inc. - Class A Common Stock $1,245,260 0.44% 5,639 $-356,423 Up ×4
DG Dollar General Corporation Common Stock $1,234,209 0.44% 10,722 $-16,968 Up ×1
ROL Rollins, Inc. Common Stock $1,233,960 0.44% 29,563 $-290,735 Up ×1
COF Capital One Financial Corporation Common Stock $1,230,804 0.44% 6,135 $-374,398 Down ×1
ASR Grupo Aeroportuario del Sureste, S.A. de C.V. Common Stock $1,226,800 0.44% 4,000 Up ×1
EVR Evercore Inc. Class A Common Stock $1,219,965 0.43% 3,573 $705,632 Up ×1
NU Nu Holdings Ltd. Class A Ordinary Shares $1,202,400 0.43% 90,000 $525,573 Up ×1
PAAS Pan American Silver Corp. Common Stock $1,170,945 0.42% 26,143 $846,934 Up ×1
GM General Motors Company Common Stock $1,155,506 0.41% 14,991 $65,943 Up ×1
CDE Coeur Mining, Inc. Common Stock $1,154,803 0.41% 70,760 $553,938 Up ×1
CVS CVS Health Corporation Common Stock $1,153,054 0.41% 11,146 $376,895 Up ×3
DDI DoubleDown Interactive Co., Ltd. - American Depository Shares $1,148,000 0.41% 100,000 Up ×1
ADM Archer-Daniels-Midland Company Common Stock $1,127,129 0.40% 14,753 $85,045 Up ×1
EWT iShares MSCI Taiwan ETF $1,124,548 0.40% 10,354 $134,859 Down ×4
B Barrick Mining Corporation Common Shares $1,096,023 0.39% 29,840 $-499,152 Down ×1
TUR iShares MSCI Turkey ETF $1,094,355 0.39% 28,147 $89,919 Up ×3
PFG Principal Financial Group Inc - Common Stock $1,094,290 0.39% 10,153 $207,968 Up ×1
GREK Global X Funds $1,087,276 0.39% 14,401 $223,945 Up ×1
KGC Kinross Gold Corporation Common Stock $1,068,970 0.38% 45,257 $-1,149,468 Down ×1
THD iShares MSCI Thailand ETF $1,068,236 0.38% 14,773 $92,059 Up ×1
STX Seagate Technology Holdings PLC - Ordinary Shares (Ireland) $1,065,360 0.38% 1,104 $632,465 Down ×1
TRV The Travelers Companies, Inc. Common Stock $1,062,326 0.38% 3,218 $147,909 Up ×3
EPU iShares Trust $1,050,514 0.37% 12,581 $142,365 Up ×1
EWY iShares MSCI South Korea ETF $1,044,025 0.37% 5,171 $185,907 Down ×4
ICE Intercontinental Exchange Inc. Common Stock $1,040,403 0.37% 8,451 $-242,530 Up ×2
USB U.S. Bancorp Common Stock $1,038,276 0.37% 17,190 $171,477 Up ×3
ABT Abbott Laboratories Common Stock $1,037,067 0.37% 11,429 $-92,919 Up ×4
EWW iShares MSCI Mexico ETF $1,033,909 0.37% 13,736 $52,458 Up ×1
EWM iShares MSCI Malaysia Index Fund $1,021,378 0.36% 37,899 $-5,274 Up ×1
EPOL iShares Trust $1,020,694 0.36% 26,436 $12,392 Down ×3
ECH iShares, Inc. $1,019,774 0.36% 25,687 $54,640 Up ×1
ALL Allstate Corporation (The) Common Stock $1,019,097 0.36% 4,283 $153,660 Up ×1
RF Regions Financial Corporation Common Stock $1,013,754 0.36% 33,568 $164,305 Up ×3
EWN iShares MSCI Netherlands Index Fund $1,000,657 0.36% 14,226 $141,113 Down ×3
EWO iShares MSCI Austria ETF $988,712 0.35% 23,360 $110,545 Down ×5
EWP iShares MSCI Spain ETF $983,142 0.35% 16,554 $92,567 Up ×1
CRDO Credo Technology Group Holding Ltd - Ordinary Shares $972,493 0.35% 3,576 $764,289 Up ×1
EWI iShares MSCI Italy ETF $959,570 0.34% 16,198 $84,978 Down ×1
WW WW International, Inc. - Common Stock $958,800 0.34% 60,000 $134,400

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
PBP $3,176,596 1.13% up ×5
EMHY $3,163,656 1.13% up ×5
EMB $3,157,928 1.13% up ×5
CAH $2,927,214 1.04% up ×4
L $2,909,384 1.04% up ×3
IVZ $2,789,924 0.99% up ×3
CSCO $2,699,818 0.96% up ×4
DAL $2,612,833 0.93% up ×3
T $2,493,294 0.89% up ×4
FALN $2,217,418 0.79% up ×5
GL $2,207,770 0.79% up ×3
HYGV $2,206,167 0.79% up ×5
SHYG $2,205,447 0.79% up ×4
JNK $2,204,753 0.79% up ×4
GHYG $2,200,233 0.78% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
QQQ $15,614,626 21,204 5.56%
Unknown issuer (CUSIP: G2004J103) $1,680,145 58,808 0.60%
QQQM $1,368,818 4,518 0.49%
ASR $1,226,800 4,000 0.44%
DDI $1,148,000 100,000 0.41%
IAG $918,261 57,971 0.33%
AUNA $897,750 175,000 0.32%
AAL $796,146 44,059 0.28%
LUV $748,727 14,561 0.27%
HUM $746,774 1,880 0.27%
CNC $719,185 11,204 0.26%
SANM $708,118 2,798 0.25%
DELL $698,965 1,620 0.25%
HL $652,735 42,303 0.23%
FIVE $638,794 3,553 0.23%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
RPV Trimmed -139K -$14.0M
ADBE Trimmed -18K -$4.9M
NBIS Trimmed -10K +$4.1M
IEF Trimmed -29K -$2.8M
EWZ Bought more +3K -$2.0M
MU Bought more +325 +$1.9M
SHY Bought more +22K +$1.8M
REM Bought more +75K +$1.7M
EVC Trimmed -26K +$1.4M
KGC Trimmed -27K -$1.1M

1 position 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
KWEB June 30, 2025 1,420,000 $49,572,200
ASHR June 30, 2025 700,000 $18,599,000
JD June 30, 2025 400,000 $16,448,000 -19.2%
TSLA Sept. 30, 2025 30,000 $9,529,800 -14.8%
QQQ March 31, 2026 11,402 $7,004,363 29.0%
INTC June 30, 2026 125,000 $5,516,250 -16.8%
FOXA March 31, 2026 43,623 $3,187,533 8.4%
NLY March 31, 2026 132,000 $2,951,520 -13.6%
REM June 30, 2025 115,606 $2,594,199 -11.6%
WELL March 31, 2026 11,396 $2,115,212 13.4%
TMUS June 30, 2025 7,270 $1,938,982 -30.9%
BRO June 30, 2025 14,398 $1,791,111 -45.0%
WMT March 31, 2026 15,668 $1,745,572 -15.5%
JPM June 30, 2025 6,560 $1,609,168 14.6%
WAB March 31, 2026 7,436 $1,587,214 16.8%
CTAS June 30, 2025 7,632 $1,568,605 -12.3%
WMB March 31, 2026 25,725 $1,546,330 -2.7%
MCK June 30, 2025 2,209 $1,486,635 24.9%
TJX June 30, 2025 12,169 $1,482,184 8.8%
CCL June 30, 2026 57,162 $1,479,353 -10.5%
ADP Sept. 30, 2025 4,753 $1,465,825 -11.3%
COST June 30, 2025 1,535 $1,451,772 -6.7%
KMI March 31, 2026 52,049 $1,430,827 -6.3%
TRGP June 30, 2025 6,833 $1,369,812 65.1%
APH June 30, 2025 19,990 $1,311,144 -11.6%
PKG March 31, 2026 6,343 $1,308,117 8.1%
ADP March 31, 2026 4,896 $1,259,398 28.1%
HOOD March 31, 2026 10,739 $1,214,581 64.7%
MSI March 31, 2026 3,058 $1,172,193 4.9%
PFF June 30, 2025 37,173 $1,142,326
FTI June 30, 2026 15,663 $1,082,783 6.0%
FMCC March 31, 2026 99,017 $1,004,032 No longer tracked
AIZ June 30, 2025 4,651 $975,547 34.9%
EIDO March 31, 2026 51,639 $965,649
INDA March 31, 2026 17,477 $944,632
FXI March 31, 2026 24,413 $934,774 -5.7%
AIG June 30, 2025 10,666 $927,302 -12.2%
FIX March 31, 2026 964 $899,692 24.2%
EWG March 31, 2026 20,770 $882,725
EPHE Sept. 30, 2025 32,171 $872,478
CINF March 31, 2026 5,154 $841,751 3.0%
CB March 31, 2026 2,681 $836,794 1.4%
HPE March 31, 2026 33,930 $814,999 187.1%
EG June 30, 2025 2,103 $764,083 7.9%
ACGL March 31, 2026 7,895 $757,288 -1.7%
VNQI June 30, 2026 16,921 $752,138
PCAR June 30, 2025 7,661 $745,952 15.0%
PHM June 30, 2025 7,173 $737,384 8.1%
INDA Sept. 30, 2025 13,033 $725,677
PRU March 31, 2026 6,260 $706,629 16.2%
IBKR June 30, 2026 10,369 $695,449 2.3%
NTRS June 30, 2026 4,961 $692,407 -1.8%
GMED March 31, 2026 7,831 $683,725 -11.1%
FANG June 30, 2025 4,267 $682,208 34.0%
THC March 31, 2026 3,380 $671,674 37.5%
USFD June 30, 2026 7,064 $651,371 -7.5%
RY March 31, 2026 3,761 $641,213 20.3%
NCLH March 31, 2026 27,934 $623,487 -20.5%
PR June 30, 2025 43,606 $603,943 63.2%
LEN June 30, 2025 5,209 $597,889 -32.7%
CVNA June 30, 2026 1,865 $586,319 -3.2%
QQQM March 31, 2026 2,308 $583,739
PWR March 31, 2026 1,363 $575,268 24.5%
HCC June 30, 2025 12,020 $573,594 101.4%
EME March 31, 2026 924 $565,294 5.5%
EXEL June 30, 2026 12,969 $556,240 8.2%
RCL March 31, 2026 1,950 $543,894 -0.1%
PFGC June 30, 2026 6,188 $530,064 -17.2%
KKR June 30, 2025 4,023 $465,099 -32.4%
MUB June 30, 2025 4,373 $461,089
BURL June 30, 2025 1,929 $459,739 16.8%
HLI June 30, 2026 3,162 $454,126 -5.4%
PPC March 31, 2026 11,341 $442,186 -25.9%
RGA June 30, 2025 2,223 $437,709 26.6%
LAD June 30, 2026 1,636 $408,542 4.3%
ARES March 31, 2026 2,500 $404,075 7.4%
EQH June 30, 2026 10,388 $385,499 23.1%
DKNG June 30, 2025 11,556 $383,775 -54.3%
COIN March 31, 2026 1,648 $372,679 7.8%
QTRX March 31, 2026 56,500 $359,340 8.2%
VBNK March 31, 2026 23,200 $347,536 57.8%
HWM June 30, 2025 2,661 $345,212 23.3%
AVGO June 30, 2026 1,078 $333,652 -4.0%
DVA March 31, 2026 2,852 $324,016 16.3%
NET June 30, 2026 1,512 $311,986 46.6%
APP June 30, 2026 728 $289,744 -45.3%
NVDA March 31, 2026 1,553 $289,635 37.0%
SFM June 30, 2026 3,371 $260,005 -23.2%
ANET March 31, 2026 1,888 $247,385 68.5%
WWD June 30, 2025 1,227 $223,915 35.9%
AXON March 31, 2026 387 $219,789 -3.0%
IOT June 30, 2026 6,923 $219,390 30.7%
NOTV Dec. 31, 2025 143,500 $208,075 No longer tracked
CRWD June 30, 2025 575 $202,734 -46.5%
TKNO June 30, 2026 70,000 $202,300 58.5%
SHCO Sept. 30, 2025 25,000 $183,750 No longer tracked
ESTC June 30, 2025 1,979 $176,329 12.5%
NOW March 31, 2026 1,038 $159,011 30.2%
RBLX June 30, 2026 2,698 $152,599 -18.0%
ZS June 30, 2026 888 $124,578 43.0%
SMCI June 30, 2025 2,888 $98,885 -11.9%
MRP June 30, 2025 2,611 $69,218 -21.0%
DUOL June 30, 2026 570 $56,185 27.9%
CVRX Sept. 30, 2025 5,100 $29,988 -80.7%