Sector breakdown

04
Technology 9.6%
Financials 6.7%
Industrials 4.1%
Retail 3.0%
Communication Services 3.0%
Health Care 2.5%
Utilities 1.4%
Consumer Staples 1.4%
Consumer products 1.3%
Energy 0.9%
Consumer Discretionary 0.9%
Materials 0.3%
Real Estate 0.2%
Other/Unmapped 64.7%

Full portfolio 421 positions

05
Type Streak 8Q trend
SPYM State Street SPDR Portfolio S&P 500 ETF $295,338,372 19.90% 3,610,494 $292,758,936 Up ×4
SPYV SPDR SERIES TRUST $70,308,741 4.74% 1,208,677 $-106,325,493 Down ×1
SPYG SPDR SERIES TRUST $63,356,694 4.27% 585,065 $-97,795,812 Down ×1
AVEM AMERICAN CENTURY ETF TRUST $61,136,329 4.12% 754,863 $24,075,509 Up ×4
AAPL Apple Inc. - Common Stock $52,476,083 3.53% 201,637 $3,629,456 Up ×4
ITOT iShares Trust $46,829,644 3.15% 307,968 $7,397,164 Up ×1
VEA VANGUARD TAX-MANAGED FUNDS $46,776,482 3.15% 720,525 $12,589,959 Up ×3
VTEB VANGUARD MUNICIPAL BOND FUNDS $35,153,438 2.37% 695,282 $7,046,792 Up ×2
VO VANGUARD INDEX FUNDS $32,280,792 2.17% 107,901 $4,978,427 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $28,957,268 1.95% 58,069 $-199,238 Up ×2
FBND Fidelity Merrimack Street Trust $27,308,914 1.84% 591,999 $1,386,250 Up ×3
MSFT Microsoft Corporation - Common Stock $26,343,212 1.77% 55,206 $-253,324 Up ×4
VOO VANGUARD INDEX FUNDS $24,237,654 1.63% 37,910 $7,470,724 Up ×2
JPM JP Morgan Chase & Co. Common Stock $22,716,833 1.53% 70,008 $2,317,163 Up ×3
NVDA NVIDIA Corporation - Common Stock $21,670,827 1.46% 117,178 $3,563,652 Up ×4
BND Vanguard Total Bond Market ETF $19,324,953 1.30% 260,374 $487,024 Up ×3
UITB VictoryShares Core Intermediate Bond ETF $18,481,498 1.24% 389,946 $1,614,101 Up ×3
PG Procter & Gamble Company (The) Common Stock $17,806,258 1.20% 124,120 $-1,732,282 Down ×1
AVRE AMERICAN CENTURY ETF TRUST $17,126,503 1.15% 388,797 $-3,976,071 Down ×1
AMZN Amazon.com, Inc. - Common Stock $16,003,544 1.08% 64,931 $3,907,663 Up ×4
GOOGL Alphabet Inc. - Class A Common Stock $15,855,353 1.07% 47,777 $4,139,340 Up ×4
WEC WEC Energy Group, Inc. Common Stock $14,511,797 0.98% 138,208 $-984,425 Up ×4
VB VANGUARD INDEX FUNDS $13,613,684 0.92% 50,012 $3,231,717 Up ×1
IVV iShares Trust $12,583,790 0.85% 18,022 $576,579 Up ×1
VTV VANGUARD INDEX FUNDS $12,389,101 0.83% 62,921 $1,936,759 Up ×3
VGSH Vanguard Short-Term Treasury ETF $11,402,895 0.77% 194,125 $-691,607 Down ×2
GOOG Alphabet Inc. - Class C Capital Stock $11,214,181 0.76% 33,704 $5,394,748 Up ×4
MUB iShares Trust $10,677,672 0.72% 99,281 $414,248 Up ×2
SPY SPY $10,086,837 0.68% 14,510 $642,646 Up ×3
SUB iShares Trust $8,283,979 0.56% 77,478 $1,047,170 Up ×1
YLD Principal Exchange-Traded Funds $8,269,580 0.56% 433,302 $-2,148,888 Down ×1
VUG VANGUARD INDEX FUNDS $8,244,930 0.56% 16,740 $-529,409 Down ×4
HD Home Depot, Inc. (The) Common Stock $8,123,978 0.55% 21,667 $-22,231 Up ×4
KO Coca-Cola Company (The) Common Stock $8,062,614 0.54% 114,363 $1,654,959 Up ×4
AMLP ALPS ETF Trust $7,787,768 0.52% 160,871 $-2,171,739 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $7,348,071 0.49% 11,446 $371,940 Up ×4
AMJB Alerian MLP Index ETN $6,546,611 0.44% 211,761 $-7,739,701 Down ×1
OSK Oshkosh Corporation (Holding Company)Common Stock $6,375,267 0.43% 42,601 $800,608 Down ×3
WMT Walmart Inc. - Common Stock $5,892,372 0.40% 49,948 $951,343 Up ×1
AVGO Broadcom Inc. - Common Stock $5,651,940 0.38% 16,047 $1,200,551 Up ×4
VONE Vanguard Russell 1000 ETF $5,089,624 0.34% 16,135 Up ×1
MDY State Street SPDR S&P MIDCAP 400 ETF Trust $5,073,224 0.34% 8,023 $871,068 Up ×4
BFC Bank First Corporation - Common Stock $5,019,808 0.34% 40,765 $-939,528 Down ×1
PEP PepsiCo, Inc. - Common Stock $4,958,981 0.33% 35,081 $-1,045,164 Down ×2
BA Boeing Company (The) Common Stock $4,893,563 0.33% 20,406 $777,693 Up ×4
ABT Abbott Laboratories Common Stock $4,547,309 0.31% 36,484 $-702,782 Down ×2
XOM Exxon Mobil Corporation Common Stock $4,546,970 0.31% 36,660 $603,672 Up ×1
TSLA Tesla, Inc. - Common Stock $4,538,537 0.31% 10,109 $372,211 Up ×4
ETN Eaton Corporation, PLC Ordinary Shares $4,500,243 0.30% 13,674 $-40,951 Up ×4
VGIT Vanguard Intermediate-Term Treasury ETF $4,474,360 0.30% 74,685 $210,581 Up ×4
TJX TJX Companies, Inc. (The) Common Stock $4,357,527 0.29% 27,737 $903,190 Up ×1
LLY Eli Lilly and Company Common Stock $4,233,926 0.29% 3,917 $1,316,553 Up ×1
COST Costco Wholesale Corporation - Common Stock $4,177,161 0.28% 4,429 $868,613 Up ×2
PM Philip Morris International Inc Common Stock $4,128,846 0.28% 24,999 $281,085 Up ×4
MU Micron Technology, Inc. - Common Stock $3,844,691 0.26% 11,116 $1,891,232 Up ×1
ORCL Oracle Corporation Common Stock $3,726,774 0.25% 18,208 $-1,114,391 Up ×2
MA Mastercard Incorporated Common Stock $3,691,579 0.25% 6,519 $896,170 Up ×2
DFAC Dimensional ETF Trust $3,632,572 0.24% 89,230 $-646,661 Down ×4
VTI VANGUARD INDEX FUNDS $3,591,478 0.24% 10,470 $36,422 Down ×1
CAT Caterpillar, Inc. Common Stock $3,584,265 0.24% 5,691 $1,181,469 Up ×4
JNJ Johnson & Johnson Common Stock $3,382,461 0.23% 16,128 $578,077 Up ×4
WFC Wells Fargo & Company Common Stock $3,279,715 0.22% 34,538 $458,301 Down ×1
CSCO Cisco Systems, Inc. - Common Stock $3,269,969 0.22% 44,183 $651,896 Up ×4
SPSM SPDR SERIES TRUST $3,128,089 0.21% 63,476 $299,125 Up ×4
RTX RTX Corporation Common Stock $2,949,844 0.20% 15,217 Up ×1
CWI SPDR INDEX SHARES FUNDS $2,758,239 0.19% 73,730 Up ×1
SPDW SPDR INDEX SHARES FUNDS $2,679,745 0.18% 58,053 $-80,889 Down ×1
ASB Associated Banc-Corp Common Stock $2,612,965 0.18% 100,421 $-51,215
MCD McDonald's Corporation Common Stock $2,580,328 0.17% 8,412 $409,376 Up ×2
SCHW Charles Schwab Corporation (The) Common Stock $2,566,125 0.17% 25,183 $362,023 Up ×1
VIG VANGUARD SPECIALIZED FUNDS $2,562,237 0.17% 11,357 $83,946 Down ×1
IVW iShares Trust $2,547,729 0.17% 20,367 $83,768
BX Blackstone Inc. Common Stock $2,502,988 0.17% 15,985 $418,666 Up ×4
IWF iShares Trust $2,440,195 0.16% 5,113 $-576,980 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $2,438,696 0.16% 11,742 $447,964 Up ×4
SPTM SPDR SERIES TRUST $2,409,032 0.16% 28,587 $800,102 Up ×1
ABBV AbbVie Inc. Common Stock $2,391,532 0.16% 10,869 $-236,014 Down ×3
IBM International Business Machines Corporation Common Stock $2,283,014 0.15% 7,313 $85,917 Down ×4
DIS Walt Disney Company (The) Common Stock $2,179,694 0.15% 19,320 $252,134 Up ×2
IWP iShares Trust $2,148,669 0.14% 15,203 $1,279,048 Up ×2
GLIX Lazard Active ETF Trust $2,117,570 0.14% 84,500 Up ×1
ADI Analog Devices, Inc. - Common Stock $2,082,846 0.14% 7,088 $1,071,041 Up ×3
TRV The Travelers Companies, Inc. Common Stock $2,058,928 0.14% 7,340 Up ×1
SCZ iShares MSCI EAFE Small-Cap ETF $2,042,968 0.14% 25,347 $291,169 Up ×1
V Visa Inc. $1,925,852 0.13% 5,611 $-27,738 Up ×2
CVX Chevron Corporation Common Stock $1,905,569 0.13% 11,738 $31,320 Down ×1
BAC Bank of America Corporation Common Stock $1,898,585 0.13% 34,401 $162,626 Down ×2
CRM Salesforce, Inc. Common Stock $1,877,272 0.13% 7,237 $601,966 Up ×2
GD General Dynamics Corporation Common Stock $1,843,399 0.12% 5,107 $444,704 Up ×1
IWO iShares Trust $1,823,544 0.12% 5,293
MGK VANGUARD WORLD FUND $1,709,006 0.12% 4,112 $42,556 Down ×1
C Citigroup, Inc. Common Stock $1,694,687 0.11% 14,398 $675,020 Up ×4
NEE NextEra Energy, Inc. Common Stock $1,640,472 0.11% 20,223 $168,216 Up ×3
HON Honeywell International Inc. - Common Stock $1,634,445 0.11% 7,835 $-576,836 Down ×2
IVE iShares Trust $1,633,570 0.11% 7,520 $70,237
NFLX Netflix, Inc. - Common Stock $1,622,255 0.11% 18,144 $-422,795 Up ×4
GE GE Aerospace Common Stock $1,620,325 0.11% 4,998 $9,535 Down ×2
MO Altria Group, Inc. $1,612,216 0.11% 27,540 $-156,303 Up ×2
COR Cencora, Inc. Common Stock $1,594,123 0.11% 4,659 $608,412 Up ×1
COF Capital One Financial Corporation Common Stock $1,535,359 0.10% 6,584 $29,542 Down ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
SPYM $295,338,372 19.90% up ×4
AVEM $61,136,329 4.12% up ×4
AAPL $52,476,083 3.53% up ×4
VEA $46,776,482 3.15% up ×3
FBND $27,308,914 1.84% up ×3
MSFT $26,343,212 1.77% up ×4
JPM $22,716,833 1.53% up ×3
NVDA $21,670,827 1.46% up ×4
BND $19,324,953 1.30% up ×3
UITB $18,481,498 1.24% up ×3
AMZN $16,003,544 1.08% up ×4
GOOGL $15,855,353 1.07% up ×4
WEC $14,511,797 0.98% up ×4
VTV $12,389,101 0.83% up ×3
GOOG $11,214,181 0.76% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
VONE $5,089,624 16,135 0.34%
RTX $2,949,844 15,217 0.20%
CWI $2,758,239 73,730 0.19%
GLIX $2,117,570 84,500 0.14%
TRV $2,058,928 7,340 0.14%
IWO $1,823,544 5,293 0.12%
AVDE $1,056,542 12,392 0.07%
VXF $906,255 4,134 0.06%
MOFG $617,980 15,496 0.04%
SNDR $511,991 17,802 0.03%
IWR $474,869 4,743 0.03%
VTWO $468,963 4,438 0.03%
SCHX $419,317 15,265 0.03%
AKRE $315,307 4,797 0.02%
LHX $305,931 898 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPYV Trimmed -2.0M -$106.3M
SPYG Trimmed -953K -$97.8M
AVEM Bought more +266K +$24.1M
VEA Bought more +157K +$12.6M
AMJB Trimmed -281K -$7.7M
VOO Bought more +11K +$7.5M
ITOT Bought more +38K +$7.4M
VTEB Bought more +134K +$7.0M
GOOG Bought more +10K +$5.4M
VO Bought more +15K +$5.0M

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
GII Dec. 31, 2025 13,766 $964,994
TLH June 30, 2025 8,544 $850,390
IWO June 30, 2025 3,277 $771,832
ALL June 30, 2025 3,951 $753,748 11.1%
CTAS June 30, 2025 3,164 $641,438 -13.4%
DFS June 30, 2025 3,512 $557,046 No longer tracked
TREX Dec. 31, 2025 9,276 $488,103 24.2%
VERX Dec. 31, 2025 18,831 $467,009 -39.9%
IGE June 30, 2025 11,273 $443,468 41.9%
SNPS Sept. 30, 2025 703 $434,911 -0.7%
DD Dec. 31, 2025 5,240 $413,331 223.3%
LECO Sept. 30, 2025 1,487 $358,592 16.3%
SKX Sept. 30, 2025 5,585 $351,855 No longer tracked
OXLC Dec. 31, 2025 20,383 $341,621 -39.1%
OXLC (filed as OXLCXXXX) Dec. 31, 2025 20,383 $341,621 -39.1%
PKG Sept. 30, 2025 1,756 $336,116 4.9%
PH Dec. 31, 2025 434 $325,806 10.6%
CDW June 30, 2025 2,117 $310,564 -25.4%
PNW Sept. 30, 2025 3,349 $303,687 7.0%
VVV Dec. 31, 2025 8,576 $296,815 5.2%
CBOE Sept. 30, 2025 1,193 $295,613
PB Sept. 30, 2025 4,458 $293,871 1.6%
ODFL Sept. 30, 2025 2,023 $286,963 28.2%
XLP Dec. 31, 2025 3,660 $286,139 No longer tracked
ALE Dec. 31, 2025 4,243 $285,511 No longer tracked
LFUS Sept. 30, 2025 1,087 $272,739 76.3%
RGA Sept. 30, 2025 1,504 $266,704 29.8%
GNTX Sept. 30, 2025 10,113 $265,770 -22.0%
BWA Sept. 30, 2025 7,052 $264,591 37.7%
NNN Sept. 30, 2025 6,274 $263,633 -3.8%
MRVL Dec. 31, 2025 2,897 $251,952 220.4%
BOKF Sept. 30, 2025 2,544 $250,762 15.2%
FBTC Dec. 31, 2025 2,350 $249,382
ALGN Sept. 30, 2025 1,826 $249,286 14.8%
JJSF Dec. 31, 2025 2,592 $245,957 -13.4%
WBS Sept. 30, 2025 4,381 $245,380 No longer tracked
ATO Sept. 30, 2025 1,542 $240,259 -8.0%
DVY Sept. 30, 2025 1,772 $237,308
SRAD Sept. 30, 2025 7,960 $235,377 -56.3%
GNR June 30, 2025 4,909 $234,968
GWW Dec. 31, 2025 243 $232,998 26.9%
TFC Dec. 31, 2025 5,135 $232,085 -5.6%
WSC Sept. 30, 2025 9,140 $231,516 -18.0%
JPST Dec. 31, 2025 4,556 $230,625
TDG June 30, 2025 177 $229,781 -28.3%
OTIS Dec. 31, 2025 2,518 $227,654 -26.7%
IPGP Sept. 30, 2025 3,023 $227,390 6.1%
FNF Sept. 30, 2025 4,012 $226,999 -32.7%
EXPD June 30, 2025 2,088 $226,047 68.5%
PSA Dec. 31, 2025 762 $223,583 9.4%
ELV June 30, 2025 512 $223,268 -0.7%
PHR Sept. 30, 2025 8,453 $222,652 -57.2%
HLT Sept. 30, 2025 843 $220,009 23.1%
NVT Sept. 30, 2025 2,431 $218,459 71.9%
DINO Sept. 30, 2025 5,154 $218,323 116.6%
EEFT Sept. 30, 2025 2,324 $218,224 -27.7%
OC Dec. 31, 2025 1,614 $215,275 5.8%
CDW Dec. 31, 2025 1,383 $214,711 -2.1%
UL (filed as ULXXXX) Sept. 30, 2025 3,538 $213,953 -10.6%
CCI Dec. 31, 2025 2,228 $211,972 -25.2%
CACI Dec. 31, 2025 403 $211,962 15.4%
ABNB Sept. 30, 2025 1,635 $209,313 33.8%
VGLT Dec. 31, 2025 3,688 $209,238
DOX Sept. 30, 2025 2,474 $209,028 -29.2%
DXCM Sept. 30, 2025 2,634 $208,824 26.9%
COLD Sept. 30, 2025 13,259 $208,299 14.1%
HUM June 30, 2025 717 $208,109 58.9%
PEG Sept. 30, 2025 2,339 $208,101 -18.4%
MOH June 30, 2025 600 $205,608 -36.4%
INTC June 30, 2025 10,338 $205,527 432.7%
KR June 30, 2025 2,995 $203,361 -17.7%
OTIS June 30, 2025 2,152 $202,985 -35.3%
KMX Sept. 30, 2025 3,624 $202,872 22.4%
NVO June 30, 2025 3,309 $202,544 -45.9%
WTRG Sept. 30, 2025 5,300 $202,354 -1.3%
TTC Sept. 30, 2025 2,764 $201,689 29.4%
MKTX Sept. 30, 2025 970 $201,539 -5.8%
TTD Sept. 30, 2025 2,328 $200,394 -75.6%
ACVA Sept. 30, 2025 13,710 $185,222 5.4%
CNH Dec. 31, 2025 10,131 $111,036 46.1%
OCCI June 30, 2025 15,579 $99,706 -64.2%
ULTY Dec. 31, 2025 10,047 $55,256
DVLT Dec. 31, 2025 17,699 $44,778 -76.3%