Note Advisors, LLC
CIK 2056243 · View on SEC EDGAR ↗
- Portfolio value
- $200.1M
- Positions
- 85
- As of
- March 31, 2026 Data as of Q1 2026
#5,968 of 8,643 by 13F value · top 69.1%
Portfolio value QoQ: +3.3% 13F does not disclose cash
- Top 10 holdings weight
- 65.18%
- Top 25 holdings weight
- 84.78%
- Positions above 1%
- 24
- Effective number of positions
- 11.7
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 1.78% Est. buys $19,632,083 · sells $3,837,295
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 89.6% still held
- New positions
- 3
- Increased
- 33
- Decreased
- 34
- Closed
- 2
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Communication Services
1.4%
Technology
1.3%
Financials
0.8%
Consumer Discretionary
0.6%
Retail
0.4%
Industrials
0.3%
Energy
0.1%
Health Care
0.1%
Other/Unmapped
95.0%
Full portfolio 86 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| DFAU | $54,811,164 | 23.77% | 1,060,382 | $12,530,063 | Up ×6 | ||
| DFCF | $24,446,935 | 10.60% | 579,174 | $4,325,854 | Up ×6 | ||
| DFAI | $19,059,564 | 8.27% | 462,050 | $3,107,572 | Up ×6 | ||
| DFAC | $11,238,340 | 4.87% | 253,344 | $1,510,283 | Up ×6 | ||
| BND Vanguard Total Bond Market ETF | $9,178,624 | 3.98% | 125,032 | $574,122 | Up ×5 | ||
| DFAE | $7,643,640 | 3.32% | 190,093 | $1,360,443 | Up ×6 | ||
| VONE Vanguard Russell 1000 ETF | $7,239,510 | 3.14% | 21,373 | $726,466 | Down ×6 | ||
| VNQ | $5,922,667 | 2.57% | 61,419 | $509,010 | Up ×6 | ||
| NYF | $5,421,146 | 2.35% | 100,569 | $303,306 | Up ×6 | ||
| VYMI Vanguard International High Dividend Yield ETF | $5,315,370 | 2.31% | 54,128 | $391,801 | Up ×6 | ||
| FPE | $4,215,264 | 1.83% | 235,753 | $412,486 | Up ×1 | ||
| LQD | $4,167,312 | 1.81% | 38,208 | $354,114 | Up ×6 | ||
| DFGX Dimensional Global ex US Core Fixed Income ETF | $3,687,644 | 1.60% | 68,806 | $465,610 | Up ×6 | ||
| BNDX Vanguard Total International Bond ETF | $3,530,439 | 1.53% | 72,898 | $-24,035 | Down ×1 | ||
| VEA | $3,226,271 | 1.40% | 45,281 | $349,720 | Up ×1 | ||
| SPIP | $3,103,504 | 1.35% | 120,853 | $116,257 | Up ×5 | ||
| DFAR | $2,988,571 | 1.30% | 114,242 | $725,384 | Up ×6 | ||
| DFNM | $2,972,699 | 1.29% | 61,502 | $206,131 | Up ×6 | ||
| QYLD Global X NASDAQ 100 Covered Call ETF | $2,817,984 | 1.22% | 152,902 | $255,637 | Up ×6 | ||
| DCOR | $2,733,787 | 1.19% | 33,347 | $550,195 | Up ×6 | ||
| COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | $2,438,347 | 1.06% | 80,288 | $-63,762 | Up ×1 | ||
| SCHD | $2,423,183 | 1.05% | 76,417 | $138,658 | Up ×6 | ||
| JEPI | $2,348,156 | 1.02% | 41,575 | $121,255 | Up ×6 | ||
| VIG | $2,311,541 | 1.00% | 9,769 | $281,375 | Up ×6 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $2,235,205 | 0.97% | 6,326 | $411,891 | Down ×1 | ||
| VTEB | $1,945,560 | 0.84% | 38,465 | $174,764 | Up ×1 | ||
| PZT | $1,851,688 | 0.80% | 81,448 | $236,208 | Up ×3 | ||
| EMHY | $1,490,901 | 0.65% | 36,663 | Up ×1 | |||
| IXUS iShares Core MSCI Total International Stock ETF | $1,322,035 | 0.57% | 13,852 | $121,551 | Down ×1 | ||
| IWB | $1,296,068 | 0.56% | 3,165 | $166,486 | Down ×1 | ||
| DFIC | $1,203,759 | 0.52% | 32,307 | $57,241 | Up ×1 | ||
| SPHY | $1,186,580 | 0.51% | 50,622 | $70,252 | Up ×5 | ||
| TIP | $1,177,795 | 0.51% | 10,763 | $-83,841 | Down ×2 | ||
| AAPL Apple Inc. - Common Stock | $1,096,878 | 0.48% | 3,791 | $114,353 | Down ×1 | ||
| MCD McDonald's Corporation Common Stock | $1,088,559 | 0.47% | 4,027 | $-163,015 | |||
| MUB | $1,041,439 | 0.45% | 9,677 | $-1,803 | Down ×1 | ||
| IAGG | $978,199 | 0.42% | 19,332 | $-19,248 | Down ×1 | ||
| GIGB | $916,869 | 0.40% | 19,971 | $-115,967 | Down ×1 | ||
| NBTB NBT Bancorp Inc. - Common Stock | $891,008 | 0.39% | 18,048 | $129,702 | Up ×1 | ||
| MSFT Microsoft Corporation - Common Stock | $792,599 | 0.34% | 2,125 | $-121,155 | Down ×2 | ||
| UAL United Airlines Holdings, Inc. - Common Stock | $790,510 | 0.34% | 5,813 | $248,770 | Down ×1 | ||
| VTC Vanguard Total Corporate Bond ETF | $715,008 | 0.31% | 9,310 | $-279 | |||
| VWO | $631,009 | 0.27% | 10,571 | $55,540 | Down ×1 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $585,015 | 0.25% | 1,637 | $91,274 | Down ×1 | ||
| AVGO Broadcom Inc. - Common Stock | $565,492 | 0.25% | 1,497 | $102,156 | |||
| QQQ Invesco QQQ Trust, Series 1 | $512,534 | 0.22% | 696 | $110,817 | |||
| VTWV Vanguard Russell 2000 Value ETF | $493,877 | 0.21% | 2,527 | $77,499 | Up ×2 | ||
| VXUS Vanguard Total International Stock ETF | $486,096 | 0.21% | 5,686 | $47,649 | |||
| VTV | $479,228 | 0.21% | 2,199 | $46,607 | Down ×1 | ||
| XHLF | $473,625 | 0.21% | 9,416 | $-466,891 | Down ×2 | ||
| XYLD | $451,015 | 0.20% | 11,057 | $-11,032 | Down ×1 | ||
| VOE | $447,169 | 0.19% | 2,263 | $28,116 | Down ×1 | ||
| BRKB | $426,899 | 0.19% | 853 | $15,202 | Down ×1 | ||
| DFIP | $422,823 | 0.18% | 10,249 | $-4,765 | |||
| ADI Analog Devices, Inc. - Common Stock | $420,629 | 0.18% | 1,059 | $73,836 | Down ×1 | ||
| VWOB Vanguard Emerging Markets Government Bond ETF | $419,443 | 0.18% | 6,238 | $-278,382 | Down ×1 | ||
| SCHZ | $415,908 | 0.18% | 17,981 | $7,710 | Up ×3 | ||
| AMZN Amazon.com, Inc. - Common Stock | $395,536 | 0.17% | 1,660 | $-13,412 | Down ×1 | ||
| SCHR | $369,111 | 0.16% | 14,968 | $-3,742 | |||
| MTB M&T Bank Corporation Common Stock | $366,291 | 0.16% | 1,539 | $43,406 | Down ×1 | ||
| AGG | $365,731 | 0.16% | 3,695 | $2,403 | Up ×4 | ||
| SGOV iShares 0-3 Month Treasury Bond ETF | $365,633 | 0.16% | 3,632 | $36 | |||
| PFFD | $338,999 | 0.15% | 18,138 | $-55,055 | Down ×2 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $329,030 | 0.14% | 584 | $15,433 | Up ×2 | ||
| EEM | $324,605 | 0.14% | 4,745 | $55,136 | |||
| ESGU iShares ESG Aware MSCI USA ETF | $323,085 | 0.14% | 1,974 | $43,922 | |||
| EMTL | $305,502 | 0.13% | 7,154 | $-1,093,543 | Down ×1 | ||
| BCD | $305,438 | 0.13% | 8,944 | $55,228 | Up ×1 | ||
| HD Home Depot, Inc. (The) Common Stock | $287,097 | 0.12% | 814 | $-29,309 | Down ×1 | ||
| DGRO | $277,164 | 0.12% | 3,657 | $18,551 | Down ×4 | ||
| SPYV | $272,582 | 0.12% | 4,484 | $18,877 | |||
| JPM JP Morgan Chase & Co. Common Stock | $262,846 | 0.11% | 803 | $19,282 | Down ×1 | ||
| XOM Exxon Mobil Corporation Common Stock | $255,973 | 0.11% | 1,872 | $-61,672 | |||
| HDV | $254,118 | 0.11% | 9,271 | $-3,343 | Up ×1 | ||
| C Citigroup, Inc. Common Stock | $242,831 | 0.11% | 1,735 | $31,548 | Down ×1 | ||
| WMT Walmart Inc. - Common Stock | $242,645 | 0.11% | 2,142 | $-23,609 | |||
| VTI | $241,266 | 0.10% | 652 | $-327,209 | Down ×1 | ||
| TSLA Tesla, Inc. - Common Stock | $231,981 | 0.10% | 552 | $26,943 | |||
| MDYV | $227,925 | 0.10% | 2,403 | $23,310 | |||
| SCZ iShares MSCI EAFE Small-Cap ETF | $227,394 | 0.10% | 2,764 | $10,198 | Down ×1 | ||
| EVSD Eaton Vance Short Duration Income ETF | $221,931 | 0.10% | 4,364 | $-371 | |||
| SPYM | $221,370 | 0.10% | 2,519 | ||||
| NVDA NVIDIA Corporation - Common Stock | $212,036 | 0.09% | 1,060 | $-37,299 | Down ×1 | ||
| ICF | $208,233 | 0.09% | 3,079 | $-17,789 | Down ×1 | ||
| SCHX | $202,684 | 0.09% | 6,887 | Up ×1 | |||
| COR Cencora, Inc. Common Stock | $201,482 | 0.09% | 712 | $-28,783 | Down ×1 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| DFAU | $54,811,164 | 23.77% | up ×6 |
| DFCF | $24,446,935 | 10.60% | up ×6 |
| DFAI | $19,059,564 | 8.27% | up ×6 |
| DFAC | $11,238,340 | 4.87% | up ×6 |
| BND | $9,178,624 | 3.98% | up ×5 |
| DFAE | $7,643,640 | 3.32% | up ×6 |
| VNQ | $5,922,667 | 2.57% | up ×6 |
| NYF | $5,421,146 | 2.35% | up ×6 |
| VYMI | $5,315,370 | 2.31% | up ×6 |
| LQD | $4,167,312 | 1.81% | up ×6 |
| DFGX | $3,687,644 | 1.60% | up ×6 |
| SPIP | $3,103,504 | 1.35% | up ×5 |
| DFAR | $2,988,571 | 1.30% | up ×6 |
| DFNM | $2,972,699 | 1.29% | up ×6 |
| QYLD | $2,817,984 | 1.22% | up ×6 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| EMHY | $1,490,901 | 36,663 | 0.65% |
| SPYM | $221,370 | 2,519 | 0.10% |
| SCHX | $202,684 | 6,887 | 0.09% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| DFAU | Bought more | +123K | +$12.5M |
| DFCF | Bought more | +103K | +$4.3M |
| DFAI | Bought more | +53K | +$3.1M |
| DFAC | Bought more | +3K | +$1.5M |
| DFAE | Bought more | +5K | +$1.4M |
| EMTL | Trimmed | -26K | -$1.1M |
| VONE | Trimmed | -696 | +$726K |
| DFAR | Bought more | +19K | +$725K |
| BND | Bought more | +8K | +$574K |
| DCOR | Bought more | +3K | +$550K |
Exited positions
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.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| FPE | Dec. 31, 2025 | 51,885 | $946,382 | No longer tracked |
| EVBN | June 30, 2025 | 12,597 | $490,918 | No longer tracked |
| EZM | June 30, 2025 | 5,718 | $340,793 | No longer tracked |
| URI | Dec. 31, 2025 | 350 | $334,131 | 42.3% |
| ANGL | June 30, 2025 | 11,084 | $319,884 | -1.1% |
| VTI | June 30, 2025 | 1,118 | $307,271 | No longer tracked |
| ORCL | Dec. 31, 2025 | 906 | $254,803 | -26.5% |
| GLTR | June 30, 2026 | 1,044 | $228,344 | No longer tracked |
| DWX | March 31, 2025 | 6,349 | $221,961 | No longer tracked |
| ANGL | June 30, 2026 | 7,472 | $214,596 | -0.6% |
| NVDA | Dec. 31, 2025 | 1,118 | $208,541 | 18.2% |
| V | Dec. 31, 2025 | 608 | $207,650 | 3.7% |
| BX | March 31, 2025 | 1,174 | $202,421 | -0.2% |
| SPYM | March 31, 2026 | 2,504 | $201,923 | No longer tracked |
| BX | Dec. 31, 2025 | 1,174 | $200,578 | -9.5% |
| MDYV | March 31, 2025 | 2,495 | $200,099 | No longer tracked |
| TSLA | March 31, 2025 | 495 | $200,062 | 30.1% |
| ZOMDF | March 31, 2025 | 16,000 | $1,920 | No longer tracked |