Sector breakdown

04
Industrials 40.2%
Technology 4.1%
Financials 3.0%
Healthcare 2.7%
Retail 2.2%
Communication Services 1.4%
Energy 1.0%
Real Estate 0.6%
Consumer Staples 0.5%
Consumer products 0.3%
Utilities 0.2%
Materials 0.2%
Consumer Discretionary 0.2%
Other/Unmapped 43.3%

Full portfolio 154 positions

05
Type Streak 8Q trend
LECO Lincoln Electric Holdings, Inc. - Common Shares $167,575,043 35.29% 631,144 $10,369,695
CDX Simplify Exchange Traded Funds $16,310,698 3.43% 772,287 $179,027 Up ×6
VT Vanguard Total World Stock Index ETF $14,698,888 3.10% 93,653 Up ×1
STIP iShares 0-5 Year TIPS Bond ETF $13,714,273 2.89% 134,243 $197,412 Up ×6
SPHQ Invesco S&P 500 Quality ETF $12,572,906 2.65% 139,544 $7,531,734 Up ×4
IPKW Invesco International BuyBack Achievers ETF $11,012,967 2.32% 195,510 $5,242,914 Up ×1
BIL SPDR SERIES TRUST $10,358,612 2.18% 113,036 $-26,752,014 Down ×1
AGGH Simplify Exchange Traded Funds $8,433,521 1.78% 418,122 $89,634 Up ×5
TUA Simplify Short Term Treasury Futures Strategy ETF $7,249,589 1.53% 354,937 $-772,125 Down ×3
GLD SPDR Gold Shares $7,001,246 1.47% 19,006 $-4,365,940 Down ×3
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF $6,124,133 1.29% 63,502 $421,831 Up ×2
OUSM ALPS ETF Trust $6,040,531 1.27% 127,116 $3,473,219 Up ×4
WTBN WisdomTree Bianco Total Return Fund $5,874,986 1.24% 233,609 $118,747 Up ×6
XOM Exxon Mobil Corporation Common Stock $4,570,409 0.96% 33,429 $-1,086,875 Up ×1
AGGA EA Astoria Dynamic Core US Fixed Income ETF $4,392,198 0.92% 174,786 $54,327 Up ×1
JNJ Johnson & Johnson Common Stock $4,211,800 0.89% 16,584 $1,590,961 Up ×1
IAU iShares Gold Trust Shares $4,149,954 0.87% 54,959 $-750,596 Down ×3
FYLD Cambria ETF Trust $3,998,501 0.84% 109,578 $2,785,151 Up ×1
JPM JP Morgan Chase & Co. Common Stock $3,987,021 0.84% 12,180 $25,480 Down ×3
AAPL Apple Inc. - Common Stock $3,936,173 0.83% 13,603 $339,568 Down ×1
FOXY Simplify Currency Strategy ETF $3,585,912 0.76% 120,373 $-167,305 Down ×1
AMZN Amazon.com, Inc. - Common Stock $3,569,142 0.75% 14,975 $657,527 Up ×5
COHR Coherent Corp. Common Stock $3,395,992 0.72% 8,609 $1,027,232 Down ×2
BUCK Simplify Exchange Traded Funds $3,335,149 0.70% 142,406 $43,367 Up ×1
MSFT Microsoft Corporation - Common Stock $3,328,595 0.70% 8,923 $342,793 Up ×2
WMT Walmart Inc. - Common Stock $3,319,931 0.70% 29,312 $-588,478 Down ×1
NVDA NVIDIA Corporation - Common Stock $3,292,944 0.69% 16,457 $538,254 Up ×3
SPMO Invesco S&P 500 Momentum ETF $3,186,215 0.67% 19,724 Up ×1
MTBA Simplify Exchange Traded Funds $3,142,958 0.66% 64,050 $107,552 Up ×2
IWM iShares Russell 2000 Index Fund $3,131,290 0.66% 10,422
SHY iShares 1-3 Year Treasury Bond ETF $3,100,724 0.65% 37,763 $-32,672 Down ×4
MU Micron Technology, Inc. - Common Stock $3,063,486 0.65% 2,654 Up ×1
CPER United States Copper Index Fund ETV $2,894,193 0.61% 76,708 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $2,875,151 0.61% 8,137 $1,143,907 Up ×1
WELL Welltower Inc. Common Stock $2,810,116 0.59% 12,381 $1,732,399 Up ×2
GLW Corning Incorporated Common Stock $2,605,897 0.55% 10,202 Up ×1
AVGO Broadcom Inc. - Common Stock $2,580,446 0.54% 6,831 $137,769 Down ×2
MS Morgan Stanley Common Stock $2,554,814 0.54% 12,222 $553,206 Up ×2
XLU XLU $2,509,433 0.53% 55,347 $248,157 Up ×1
TJX TJX Companies, Inc. (The) Common Stock $2,445,513 0.51% 16,142 $-177,879 Down ×1
VTI Vanguard Morningstar Total Stock Market ETF $2,378,076 0.50% 6,427 $444,700 Up ×2
SBAR Simplify Barrier Income ETF $2,364,339 0.50% 92,357 $364,648 Up ×2
GE GE Aerospace Common Stock $2,361,241 0.50% 6,318 $611,792 Up ×1
IDV iShares International Select Dividend ETF $2,331,142 0.49% 56,267 $35,668 Up ×2
GEV GE Vernova Inc. Common Stock $2,275,709 0.48% 1,937 $646,002 Up ×1
EMR Emerson Electric Company Common Stock $2,134,223 0.45% 14,909 $180,846
SCHD SCHWAB STRATEGIC TRUST $2,119,401 0.45% 66,837 $104,523 Up ×5
META Meta Platforms, Inc. - Class A Common Stock $2,009,681 0.42% 3,568 $-375,710 Down ×1
APH Amphenol Corporation Common Stock $2,005,111 0.42% 11,372 Up ×1
SPY SPY $1,991,195 0.42% 2,666 $259,391 Up ×1
SPY SPY $1,941,602 0.41% 2,600 Put option Up ×1
SPHD Invesco S&P 500 High Dividend Low Volatility ETF $1,914,990 0.40% 37,667 $139,647 Up ×4
SVOL Simplify Volatility Premium ETF $1,909,578 0.40% 119,051 $411,274 Up ×6
RTX RTX Corporation Common Stock $1,902,107 0.40% 10,025 $304,252 Up ×4
GS Goldman Sachs Group, Inc. (The) Common Stock $1,802,301 0.38% 1,782 $307,415 Up ×2
VWO Vanguard FTSE Emerging Markets ETF $1,788,567 0.38% 29,964 $254,652 Up ×4
SCHZ SCHWAB STRATEGIC TRUST $1,668,020 0.35% 72,115 $76,196 Up ×1
PG Procter & Gamble Company (The) Common Stock $1,616,016 0.34% 11,020 $-109,602 Down ×6
HARD Simplify Exchange Traded Funds $1,572,069 0.33% 53,003 $-319,943 Down ×1
WFC Wells Fargo & Company Common Stock $1,521,237 0.32% 18,408 $225,425 Up ×1
CAT Caterpillar, Inc. Common Stock $1,480,211 0.31% 1,390 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,474,149 0.31% 2,946 $-1,186,849 Down ×1
PM Philip Morris International Inc Common Stock $1,469,351 0.31% 8,122 $1,161,488 Up ×1
TLT iShares 20+ Year Treasury Bond ETF $1,460,498 0.31% 16,900 Call option Up ×1
CSCO Cisco Systems, Inc. - Common Stock $1,454,625 0.31% 12,384 Up ×1
TLT iShares 20+ Year Treasury Bond ETF $1,374,078 0.29% 15,900 Put option
ACWX iShares MSCI ACWI ex U.S. ETF $1,356,442 0.29% 17,822 $-1,061,305 Down ×4
GILD Gilead Sciences, Inc. - Common Stock $1,337,941 0.28% 10,590 Up ×1
SPD Simplify US Equity PLUS Downside Convexity ETF $1,275,759 0.27% 30,756 $192,178 Up ×2
LLY Eli Lilly and Company Common Stock $1,272,655 0.27% 1,061 $368,476 Up ×1
MCK McKesson Corporation Common Stock $1,263,363 0.27% 1,672 Up ×1
BWZ SPDR SERIES TRUST $1,258,534 0.27% 47,048 $-18,524 Down ×2
OEF iShares Trust $1,252,007 0.26% 3,422 $-865,703 Down ×1
STE STERIS plc (Ireland) Ordinary Shares $1,239,715 0.26% 5,887 $72,370 Up ×3
PLTR Palantir Technologies Inc. - Class A Common Stock $1,238,802 0.26% 10,618 $340,643 Up ×2
XLE SELECT SECTOR SPDR TRUST $1,187,646 0.25% 22,362 $-464,536 Down ×1
NOC Northrop Grumman Corporation Common Stock $1,145,948 0.24% 2,250 $-389,092
PFG Principal Financial Group Inc - Common Stock $1,103,236 0.23% 10,236 $180,870
SCHX SCHWAB STRATEGIC TRUST $1,049,327 0.22% 35,655 $135,133
DBB Invesco DB Base Metals Fund $952,239 0.20% 39,512 $144,732 Up ×1
EFA iShares Trust $932,676 0.20% 8,978 $94,304 Up ×1
PEP PepsiCo, Inc. - Common Stock $919,625 0.19% 6,792 $-135,049
CRS Carpenter Technology Corporation Common Stock $916,624 0.19% 1,486 $330,917
DUK Duke Energy Corporation (Holding Company) Common Stock $882,032 0.19% 6,968 $455,418 Up ×2
ABBV AbbVie Inc. Common Stock $869,940 0.18% 3,457 $-1,214,067 Down ×1
YGLD Simplify Exchange Traded Funds $866,894 0.18% 27,555 $-604,806 Down ×3
BMY Bristol-Myers Squibb Company Common Stock $828,633 0.17% 14,381 $-43,575
NEM Newmont Corporation $804,548 0.17% 8,614 $-299,169 Down ×1
IBIT iShares Bitcoin Trust ETF $799,260 0.17% 24,009 $-90,278 Up ×1
TSLA Tesla, Inc. - Common Stock $797,632 0.17% 1,896 $-223,565 Down ×1
EEM iShares, Inc. $757,481 0.16% 11,073 $315,068 Up ×1
OUSA ALPS ETF Trust $742,198 0.16% 12,724 $33,871
VO Vanguard Morningstar Mid-Cap ETF $723,573 0.15% 8,981 $79,043 Up ×2
HD Home Depot, Inc. (The) Common Stock $681,025 0.14% 1,931 $55,805 Up ×1
IBM International Business Machines Corporation Common Stock $677,435 0.14% 2,409 $-1,144,611 Down ×3
AXTI AXT Inc - Common Stock $660,397 0.14% 9,162 $-177,893 Down ×3
VOO Vanguard S&P 500 ETF $630,615 0.13% 918
CW Curtiss-Wright Corporation Common Stock $617,574 0.13% 815 $54,288 Down ×1
COHR Coherent Corp. Common Stock $591,705 0.12% 1,500 Put option Up ×1
MRK Merck & Company, Inc. Common Stock (new) $562,573 0.12% 4,378 $60,001 Up ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
CDX $16,310,698 3.43% up ×6
STIP $13,714,273 2.89% up ×6
SPHQ $12,572,906 2.65% up ×4
AGGH $8,433,521 1.78% up ×5
OUSM $6,040,531 1.27% up ×4
WTBN $5,874,986 1.24% up ×6
AMZN $3,569,142 0.75% up ×5
NVDA $3,292,944 0.69% up ×3
SCHD $2,119,401 0.45% up ×5
SPHD $1,914,990 0.40% up ×4
SVOL $1,909,578 0.40% up ×6
RTX $1,902,107 0.40% up ×4
VWO $1,788,567 0.38% up ×4
STE $1,239,715 0.26% up ×3
FNX $422,770 0.09% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
VT $14,698,888 93,653 3.10%
SPMO $3,186,215 19,724 0.67%
IWM $3,131,290 10,422 0.66%
MU $3,063,486 2,654 0.65%
CPER $2,894,193 76,708 0.61%
GLW $2,605,897 10,202 0.55%
APH $2,005,111 11,372 0.42%
SPY $1,941,602 2,600 0.41%
CAT $1,480,211 1,390 0.31%
TLT $1,460,498 16,900 0.31%
CSCO $1,454,625 12,384 0.31%
TLT $1,374,078 15,900 0.29%
GILD $1,337,941 10,590 0.28%
MCK $1,263,363 1,672 0.27%
VOO $630,615 918 0.13%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
BIL Trimmed -292K -$26.8M
LECO Price move only +0 +$10.4M
SPHQ Bought more +72K +$7.5M
IPKW Bought more +93K +$5.2M
GLD Trimmed -7K -$4.4M
OUSM Bought more +68K +$3.5M
FYLD Bought more +77K +$2.8M
WELL Bought more +7K +$1.7M
JNJ Bought more +6K +$1.6M
ABBV Trimmed -6K -$1.2M

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
FNA June 30, 2025 598,870 $7,821,242 No longer tracked
XLF March 31, 2026 83,417 $4,568,749 9.1%
IWF March 31, 2026 9,160 $4,335,428 20.4%
VEU Dec. 31, 2025 60,011 $4,282,985
XLC March 31, 2026 34,169 $4,022,375 0.7%
EWC March 31, 2026 61,634 $3,323,922
EWU March 31, 2026 75,046 $3,300,523 1.4%
XLY March 31, 2026 27,284 $3,257,982 No longer tracked
BUXX Dec. 31, 2025 127,715 $2,590,060 -0.4%
XLP June 30, 2025 26,894 $2,196,433 No longer tracked
PKW Dec. 31, 2025 16,200 $2,146,176
XLV June 30, 2025 14,029 $2,048,374 24.2%
IDHQ Dec. 31, 2025 59,670 $2,007,896
UUP Sept. 30, 2025 64,130 $1,723,814
JEPI Dec. 31, 2025 28,391 $1,621,126
NFLX June 30, 2026 16,858 $1,620,897 -5.5%
V June 30, 2026 4,669 $1,411,109 7.8%
IQLT Dec. 31, 2025 29,871 $1,319,999
PGR Dec. 31, 2025 5,258 $1,298,463 -6.6%
COF June 30, 2026 6,290 $1,147,565 -2.7%
BSX June 30, 2026 16,958 $1,064,115 -0.7%
SPLV March 31, 2026 14,531 $1,037,804
IEI March 31, 2026 8,669 $1,034,645
MO March 31, 2026 16,234 $936,052 2.9%
KO Dec. 31, 2025 13,780 $913,920 23.7%
MA June 30, 2026 1,710 $854,419 9.9%
IWM March 31, 2026 2,905 $715,095 14.3%
SYK Sept. 30, 2025 1,715 $678,565 -22.8%
UNH March 31, 2026 1,712 $565,228 39.9%
DBA March 31, 2026 21,500 $548,691
RSHO March 31, 2026 10,595 $469,782
ISRG June 30, 2026 968 $446,238 2.2%
LIN March 31, 2026 1,027 $437,903 -2.7%
REIT June 30, 2025 14,788 $403,712
TRI Dec. 31, 2025 2,467 $383,199 -26.4%
UVIX Dec. 31, 2025 37,467 $372,047 -69.2%
VMC June 30, 2025 1,549 $361,382 -5.8%
GOOGL March 31, 2026 1,012 $316,753 20.5%
PLD Sept. 30, 2025 2,870 $301,694 11.8%
ARGT March 31, 2026 3,181 $290,775
BX March 31, 2026 1,650 $254,293 -2.9%
FBTC March 31, 2026 3,240 $246,985
ETN March 31, 2026 766 $243,979 20.9%
EVTR June 30, 2025 4,557 $230,721 -5.4%
SPGI June 30, 2025 446 $226,613 -25.9%
VOO Sept. 30, 2025 392 $222,609 16.3%
UNP March 31, 2026 953 $220,448 14.2%
TMUS March 31, 2026 1,017 $206,507 -21.6%
BABA June 30, 2025 1,554 $205,485 -2.3%
SCHF Dec. 31, 2025 8,772 $204,212 16.1%
BABA June 30, 2026 1,620 $203,245 15.4%
CL Sept. 30, 2025 2,211 $200,980 7.8%
REAL June 30, 2026 10,031 $91,081 -20.9%
LFST June 30, 2026 11,301 $71,987 14.1%
CRON June 30, 2026 10,637 $26,699 16.9%
TLT March 31, 2026 34,900 $25,577