Sector breakdown

04
Industrials 0.8%
Technology 0.8%
Financials 0.3%
Communication Services 0.2%
Energy 0.1%
Retail 0.1%
Healthcare 0.1%
Consumer Discretionary 0.0%
Consumer products 0.0%
Utilities 0.0%
Real Estate 0.0%
Other/Unmapped 97.5%

Full portfolio 163 positions

05
Type Streak 8Q trend
IVV iShares Trust $124,150,783 14.98% 165,780 $53,178,488 Up ×4
IUSB iShares Core Universal USD Bond ETF $55,360,027 6.68% 1,199,567 $9,923,743 Up ×1
DYNF BlackRock ETF Trust $50,963,125 6.15% 749,348 $7,341,702 Down ×3
IVW iShares Trust $50,864,789 6.14% 369,845 $8,918,462 Down ×1
IVE iShares Trust $35,967,546 4.34% 158,405 $-3,655,464 Down ×2
GOVT iShares Trust $29,915,858 3.61% 1,313,251 $6,556,478 Up ×5
BAI iShares A.I. Innovation and Tech Active ETF $24,957,565 3.01% 473,398 $5,407,064 Down ×1
IALT iShares Systematic Alternatives Active ETF $24,271,216 2.93% 865,284 Up ×1
IEMG iShares, Inc. $20,581,982 2.48% 248,455 $-4,819,023 Down ×2
MBB iShares MBS ETF $20,342,035 2.45% 215,214 $954,883 Up ×5
BLCR iShares Large Cap Core Active ETF $20,166,838 2.43% 400,374 $8,488,799 Up ×1
CORO iShares International Country Rotation Active ETF $19,563,395 2.36% 534,519 $11,181,204 Up ×1
QUAL iShares Trust $17,071,838 2.06% 77,801 $-19,424,112 Down ×5
MTUM iShares Trust $16,664,294 2.01% 48,608 $835,644 Down ×1
ESGU iShares ESG Aware MSCI USA ETF $16,235,038 1.96% 99,194 $1,846,520 Down ×3
EFG iShares Trust $16,220,610 1.96% 130,370 $1,204,730 Down ×1
THRO iShares U.S. Thematic Rotation Active ETF $16,073,422 1.94% 372,847 $-2,675,072 Down ×1
GGOV iShares Global Government Bond USD Hedged Active ETF $15,885,303 1.92% 315,874 Up ×1
IDEF iShares Defense Industrials Active ETF $14,195,840 1.71% 446,691 $4,009,515 Up ×1
EFV iShares Trust $12,511,103 1.51% 163,437 $-12,657,954 Down ×4
TLH iShares Trust $10,043,422 1.21% 100,084 $-4,170,949 Down ×3
BINC iShares Flexible Income Active ETF $9,046,786 1.09% 172,847 $-5,734,599 Down ×2
SCHB SCHWAB STRATEGIC TRUST $8,535,563 1.03% 294,736 $1,035,582 Down ×1
IAU iShares Gold Trust Shares $7,843,299 0.95% 103,871 $-65,006 Up ×1
SPYV SPDR SERIES TRUST $7,429,777 0.90% 122,220 $709,883 Up ×1
TLT iShares 20+ Year Treasury Bond ETF $7,180,542 0.87% 83,089 $-3,937,156 Down ×2
SHLD Global X Funds $6,750,115 0.81% 113,048 $-553,653 Up ×3
ACWX iShares MSCI ACWI ex U.S. ETF $5,665,877 0.68% 74,443 $2,532,211 Up ×1
SPY SPY $5,420,543 0.65% 7,259 $-5,424,058 Down ×3
VOO VANGUARD INDEX FUNDS $4,867,846 0.59% 7,088 $675,879 Up ×1
EAGG iShares Trust $4,777,400 0.58% 100,768 $1,008,627 Up ×2
LCTU iShares U.S. Carbon Transition Readiness Aware Active ETF $4,473,717 0.54% 55,810 $479,632 Down ×2
MGK VANGUARD WORLD FUND $4,171,199 0.50% 47,449 $525,151 Up ×1
SCHX SCHWAB STRATEGIC TRUST $3,889,428 0.47% 132,159 $357,596 Down ×6
SPMO Invesco Exchange-Traded Fund Trust II $3,545,157 0.43% 21,946 $709,447 Down ×1
MUB iShares Trust $3,479,166 0.42% 32,328 $286,287 Up ×5
IWF iShares Trust $3,348,020 0.40% 26,963 $474,799 Up ×1
SUSC iShares ESG Aware USD Corporate Bond ETF $3,284,805 0.40% 141,884 $-911,432 Down ×1
TOTL SSGA Active Trust $3,209,898 0.39% 81,325 $-2,906,486 Down ×4
IXUS iShares Core MSCI Total International Stock ETF $3,153,338 0.38% 33,040 $341,957 Up ×3
SYSB iShares Systematic Bond ETF $3,127,427 0.38% 35,252 $608,549 Up ×1
QUS SPDR SERIES TRUST $3,022,675 0.36% 16,176 $-2,027,576 Down ×4
TCAF T. Rowe Price Exchange-Traded Funds, Inc. $3,011,109 0.36% 73,263 $403,679
DSI iShares Trust $2,980,206 0.36% 20,930 $278,794 Down ×2
XLK SELECT SECTOR SPDR TRUST $2,799,933 0.34% 14,696 $828,834 Down ×2
JIRE J.P. Morgan Exchange-Traded Fund Trust $2,750,629 0.33% 33,345 $372,847 Up ×2
SPYM State Street SPDR Portfolio S&P 500 ETF $2,643,167 0.32% 30,077 $1,588,293 Up ×3
USXF iShares Trust $2,475,575 0.30% 35,645 $340,160 Down ×2
IXN iShares Trust $2,443,735 0.29% 16,914 $363,317 Down ×3
IBIT iShares Bitcoin Trust ETF $2,409,397 0.29% 72,376 $323,690 Up ×4
LECO Lincoln Electric Holdings, Inc. - Common Shares $2,366,756 0.29% 8,914 $146,457
VTI VANGUARD INDEX FUNDS $2,291,658 0.28% 6,193 $337,283 Up ×1
XLSR SSGA Active Trust $2,256,479 0.27% 34,790 $-2,001,812 Down ×4
JAAA Janus Detroit Street Trust $2,191,017 0.26% 43,395
AVEM AMERICAN CENTURY ETF TRUST $2,038,754 0.25% 21,129 $-614,262 Down ×2
IYW iShares Trust $2,003,037 0.24% 7,941 $559,405 Down ×2
ACWI iShares MSCI ACWI ETF $1,947,511 0.23% 12,407 $127,765 Down ×6
IWB iShares Trust $1,849,571 0.22% 4,517 $164,142 Down ×2
ADI Analog Devices, Inc. - Common Stock $1,840,486 0.22% 4,634 $274,601 Down ×1
SUSB iShares ESG Aware 1-5 Year USD Corporate Bond ETF $1,703,618 0.21% 68,172 Up ×1
MSFT Microsoft Corporation - Common Stock $1,664,008 0.20% 4,461 $30,569 Up ×1
QQQM Invesco NASDAQ 100 ETF $1,631,179 0.20% 5,384 $351,919
ESGE iShares ESG Aware MSCI EM ETF $1,603,543 0.19% 29,321 $-93,613 Down ×2
SCHM SCHWAB STRATEGIC TRUST $1,567,639 0.19% 42,518 $251,282
IAGG iShares Trust $1,561,292 0.19% 30,856 $-13,047,946 Down ×1
PWR Quanta Services, Inc. Common Stock $1,531,525 0.18% 2,127 $275,916 Down ×2
RSP Invesco Exchange-Traded Fund Trust $1,429,526 0.17% 6,719 $259,674 Up ×1
FENI Fidelity Covington Trust $1,415,626 0.17% 35,276 $-78,289 Down ×1
SPEM SPDR INDEX SHARES FUNDS $1,407,122 0.17% 27,175 $-1,256,618 Down ×6
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,390,083 0.17% 2,778 $-84,895 Down ×3
AAPL Apple Inc. - Common Stock $1,361,715 0.16% 4,706 $135,141 Down ×2
EVUS iShares Trust $1,324,085 0.16% 37,712 $95,847 Down ×2
SPMD SPDR SERIES TRUST $1,268,777 0.15% 18,780 $-806,062 Down ×4
IWD iShares Trust $1,259,656 0.15% 5,196 $150,686 Up ×4
OEF iShares Trust $1,214,024 0.15% 3,318 $-2,137,376 Down ×2
HYBL SSGA Active Trust $1,206,713 0.15% 43,174 $-1,365,757 Down ×3
DELL Dell Technologies Inc. Class C Common Stock $1,186,946 0.14% 2,751 $735,424
SPSM SPDR SERIES TRUST $1,184,542 0.14% 20,540 $-1,066,961 Down ×3
CERY State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF $1,183,790 0.14% 35,411 $-1,451,894 Down ×1
DMXF iShares Trust $1,176,429 0.14% 13,906 $74,102 Down ×1
SPDW SPDR INDEX SHARES FUNDS $1,171,971 0.14% 23,258 $-1,345,417 Down ×2
EUSA iShares, Inc. $1,138,931 0.14% 9,974 $123,877
IJR iShares Trust $1,077,027 0.13% 7,262 $75,586 Down ×1
SCHZ SCHWAB STRATEGIC TRUST $1,060,811 0.13% 45,863 $233,390 Up ×3
IJH iShares Trust $1,023,327 0.12% 13,271 $139,231 Up ×1
APH Amphenol Corporation Common Stock $978,576 0.12% 5,550 $277,333
PAVE Global X Funds $969,968 0.12% 16,462 $133,511
EUSB iShares Trust $896,828 0.11% 20,640 $119,332 Up ×2
PWR Quanta Services, Inc. Common Stock $864,048 0.10% 1,200 Put option Up ×1
VT VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $846,274 0.10% 5,392 $-39,251 Down ×6
IDU iShares Trust $785,867 0.09% 6,857 $-9,341 Up ×1
STIP iShares Trust $770,899 0.09% 7,546
GCOW Pacer Funds Trust $770,783 0.09% 17,801 $-52,335
BBAG J.P. Morgan Exchange-Traded Fund Trust $766,354 0.09% 16,678 $-283,880 Down ×6
IWP iShares Trust $747,130 0.09% 5,103 $93,334
QQQ Invesco QQQ Trust, Series 1 $742,798 0.09% 1,009 $36,717 Down ×2
GOOGL Alphabet Inc. - Class A Common Stock $705,091 0.09% 1,973 $137,735
ITOT iShares Trust $681,392 0.08% 4,148 $90,592
LMUB iShares Trust $671,648 0.08% 13,113 $100,299 Up ×1
EMHC SPDR SERIES TRUST $668,461 0.08% 26,276 $-709,965 Down ×5

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
IVV $124,150,783 14.98% up ×4
GOVT $29,915,858 3.61% up ×5
MBB $20,342,035 2.45% up ×5
SHLD $6,750,115 0.81% up ×3
MUB $3,479,166 0.42% up ×5
IXUS $3,153,338 0.38% up ×3
SPYM $2,643,167 0.32% up ×3
IBIT $2,409,397 0.29% up ×4
IWD $1,259,656 0.15% up ×4
SCHZ $1,060,811 0.13% up ×3
DFUS $549,481 0.07% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
IALT $24,271,216 865,284 2.93%
GGOV $15,885,303 315,874 1.92%
JAAA $2,191,017 43,395 0.26%
SUSB $1,703,618 68,172 0.21%
PWR $864,048 1,200 0.10%
STIP $770,899 7,546 0.09%
UNP $419,152 1,541 0.05%
ICLN $354,825 17,317 0.04%
TSLA $278,437 662 0.03%
EMXC $242,144 2,367 0.03%
NVDA $226,302 1,131 0.03%
LLY $203,955 170 0.02%
XEL $200,408 2,496 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
IVV Bought more +57K +$53.2M
QUAL Trimmed -112K -$19.4M
EFV Trimmed -175K -$12.7M
CORO Bought more +274K +$11.2M
IUSB Bought more +216K +$9.9M
IVW Trimmed -1K +$8.9M
BLCR Bought more +116K +$8.5M
DYNF Trimmed -419 +$7.3M
GOVT Bought more +294K +$6.6M
BINC Trimmed -112K -$5.7M

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
ITA March 31, 2026 28,049 $6,021,858 -5.0%
SPLB Dec. 31, 2025 127,032 $2,936,984
STIP Dec. 31, 2025 27,907 $2,884,468
SPTI Sept. 30, 2025 87,635 $2,521,247
SPEU Sept. 30, 2025 38,127 $1,847,658
SPTL Sept. 30, 2025 63,078 $1,676,626
DMXF Sept. 30, 2025 18,309 $1,362,922 13.0%
SPIB June 30, 2025 40,771 $1,355,216
BIL Sept. 30, 2025 14,390 $1,320,012
KEMX June 30, 2025 45,357 $1,264,449
SPIB Dec. 31, 2025 35,836 $1,214,482
SLV June 30, 2026 16,413 $1,118,382 2.4%
SIVR March 31, 2026 12,460 $842,794
XLG March 31, 2026 11,431 $677,630
JAAA June 30, 2025 12,177 $617,475
EEM June 30, 2025 11,583 $506,177
IGEB March 31, 2026 10,968 $500,799
BOTZ Sept. 30, 2025 15,155 $494,811
DGRO June 30, 2025 7,454 $460,508
DBEF June 30, 2025 8,882 $384,591
SYLD June 30, 2025 5,904 $376,695
NVDA March 31, 2026 1,605 $299,367 34.1%
MMTM March 31, 2026 975 $284,705
BOTZ March 31, 2026 7,546 $273,392
GLDM March 31, 2026 3,140 $268,062 -11.5%
BNDX March 31, 2026 5,370 $259,478
JPMB Dec. 31, 2025 6,383 $257,598
CVX June 30, 2025 1,536 $256,900 44.3%
VTIP Sept. 30, 2025 5,047 $253,713
CGMS June 30, 2026 9,092 $247,583
IWR March 31, 2026 2,447 $235,573 11.4%
CME June 30, 2026 788 $232,736 19.2%
EMXC March 31, 2026 3,095 $224,945
SYK Dec. 31, 2025 605 $223,650 -21.6%
VGLT June 30, 2025 3,876 $223,281
HYDB Sept. 30, 2025 4,690 $222,658
SCHA June 30, 2025 9,357 $219,241 30.9%
XLE Sept. 30, 2025 2,559 $216,990 40.6%
LOW June 30, 2025 923 $215,271 -18.5%
ADP March 31, 2026 834 $214,557 26.8%
ADBE March 31, 2026 609 $213,144 -2.2%
ABT March 31, 2026 1,685 $211,114 -5.0%
HIMU March 31, 2026 4,267 $207,718
VRSK March 31, 2026 920 $205,795 -13.6%
VGIT Sept. 30, 2025 3,371 $201,620
XEL Dec. 31, 2025 2,496 $201,281 -3.3%
CDW Dec. 31, 2025 1,259 $200,534 -2.1%