Sector breakdown

04
Industrials 13.1%
Technology 13.1%
Healthcare 6.6%
Financials 5.4%
Materials 1.6%
Retail 1.6%
Energy 1.2%
Consumer products 0.8%
Consumer Staples 0.8%
Communication Services 0.8%
Real Estate 0.6%
Consumer Discretionary 0.3%
Utilities 0.1%
Other/Unmapped 54.1%

Full portfolio 315 positions

05
Type Streak 8Q trend
IBDU iShares Trust $200,764,823 11.58% 8,668,602 $108,233,558 Up ×3
GLW Corning Incorporated Common Stock $143,082,294 8.25% 560,162 $60,475,981 Down ×6
SMTH ALPS ETF Trust $136,409,632 7.87% 5,299,519 $4,894,707 Up ×3
DCRE DoubleLine ETF Trust $81,306,103 4.69% 1,569,464 $1,737,918 Up ×3
IVV iShares Trust $65,888,724 3.80% 87,982 $10,234,785 Up ×2
AAPL Apple Inc. - Common Stock $55,707,053 3.21% 192,518 $7,166,326 Up ×1
LLY Eli Lilly and Company Common Stock $53,907,182 3.11% 44,944 $12,569,039
VO Vanguard Morningstar Mid-Cap ETF $41,558,791 2.40% 515,810 $5,968,166 Up ×3
MSFT Microsoft Corporation - Common Stock $40,256,162 2.32% 107,920 $41,520 Down ×2
COHR Coherent Corp. Common Stock $37,792,540 2.18% 95,806 $13,977,051 Down ×6
TXN Texas Instruments Incorporated - Common Stock $36,309,983 2.09% 121,817 $12,352,359 Down ×1
JPM JP Morgan Chase & Co. Common Stock $35,873,683 2.07% 109,595 $2,340,075 Down ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $34,549,245 1.99% 69,045 $1,286,232 Down ×2
RSP Invesco Exchange-Traded Fund Trust $32,938,525 1.90% 154,808 $2,928,861 Down ×5
VOO Vanguard S&P 500 ETF $29,193,546 1.68% 42,506 $3,990,679 Up ×1
TMO Thermo Fisher Scientific Inc Common Stock $28,799,982 1.66% 57,444 $419,427 Down ×1
QCOM QUALCOMM Incorporated - Common Stock $27,745,443 1.60% 150,146 $8,104,734 Down ×1
BSCU Invesco BulletShares 2030 Corporate Bond ETF $25,673,734 1.48% 1,542,429 Up ×1
OUNZ VanEck Merk Gold ETF $23,917,581 1.38% 619,787 $8,010,380 Up ×3
GLD SPDR Gold Shares $23,002,753 1.33% 62,443 $-3,547,001 Up ×3
IBM International Business Machines Corporation Common Stock $20,629,094 1.19% 73,358 $2,722,887 Down ×1
AVY Avery Dennison Corporation Common Stock $19,624,528 1.13% 120,878 $-1,263,604 Down ×1
AMZN Amazon.com, Inc. - Common Stock $19,064,343 1.10% 79,988 $2,396,284 Down ×2
TSEL Touchstone Sands Capital US Select Growth ETF $18,938,933 1.09% 640,970 $4,621,029 Up ×3
QUAL iShares Trust $18,506,055 1.07% 84,337 $2,737,788 Up ×3
GDX VanEck Gold Miners ETF $18,164,949 1.05% 240,755 $-18,289,326 Down ×2
BSCS Invesco BulletShares 2028 Corporate Bond ETF $16,372,769 0.94% 803,966 $-406,715 Down ×1
BSCT Invesco BulletShares 2029 Corporate Bond ETF $16,201,487 0.93% 872,220 $325,798 Up ×3
JCI Johnson Controls International plc Ordinary Share $14,902,233 0.86% 101,992 $1,356,447 Down ×6
VTI Vanguard Morningstar Total Stock Market ETF $14,203,180 0.82% 38,383 $1,952,547 Up ×3
AMGN Amgen Inc. - Common Stock $13,415,301 0.77% 37,047 $393,135 Up ×1
VCSH Vanguard Short-Term Corporate Bond ETF $13,386,033 0.77% 169,379 $201,055 Up ×3
KLAC KLA Corporation - Common Stock $12,154,599 0.70% 40,286 $6,113,050 Up ×1
VCIT Vanguard Intermediate-Term Corporate Bond ETF $11,781,683 0.68% 142,549 $232,104 Up ×3
MTUM iShares Trust $11,136,451 0.64% 32,484 $3,214,916 Down ×1
VBR Vanguard Morningstar Small-Cap Value ETF $10,578,127 0.61% 43,533 $809,338 Down ×2
VGIT Vanguard Intermediate-Term Treasury ETF $9,956,118 0.57% 168,805 $859,931 Up ×3
VGSH Vanguard Short-Term Treasury ETF $9,954,378 0.57% 171,037 $1,456,883 Up ×3
BSCQ Invesco BulletShares 2026 Corporate Bond ETF $7,919,300 0.46% 405,598 $-12,030,853 Down ×2
PANW Palo Alto Networks, Inc. - Common Stock $7,686,932 0.44% 22,541 $3,946,506 Down ×1
XOM Exxon Mobil Corporation Common Stock $6,403,145 0.37% 46,834 $-1,848,948 Down ×5
DFIC Dimensional ETF Trust $6,377,211 0.37% 171,154 $567,040 Up ×3
ICSH iShares Ultra Short Duration Bond Active ETF $6,155,746 0.36% 121,703 $76,408 Up ×1
IBDV iShares iBonds Dec 2030 Term Corporate ETF $5,986,356 0.35% 274,603 $3,453,551 Up ×1
ECL Ecolab Inc. Common Stock $5,906,115 0.34% 21,199 $292,960 Up ×3
UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) $5,526,531 0.32% 91,925 $312,465 Up ×2
LEN Lennar Corporation Class A Common Stock $5,288,475 0.31% 58,443 $164,772 Down ×2
PSTG Everpure, Inc. Class A common stock $5,188,322 0.30% 65,850 $1,123,418 Down ×1
JNJ Johnson & Johnson Common Stock $5,002,273 0.29% 19,696 $142,240 Down ×6
SENEA Seneca Foods Corp. - Class A Common Stock $4,870,320 0.28% 28,000 $472,728 Down ×5
CVX Chevron Corporation Common Stock $4,747,576 0.27% 28,641 $-1,498,583 Down ×5
AZO AutoZone, Inc. Common Stock $4,547,823 0.26% 1,423 $-387,114 Down ×6
IMTM iShares Trust $4,547,462 0.26% 85,270 $431,538 Down ×1
ITW Illinois Tool Works Inc. Common Stock $3,921,545 0.23% 14,499 $91,637 Down ×5
CRM Salesforce, Inc. Common Stock $3,805,256 0.22% 24,290 $-4,897,533 Down ×6
NVDA NVIDIA Corporation - Common Stock $3,761,173 0.22% 18,797 $247,465 Down ×1
IJR iShares Trust $3,636,483 0.21% 24,519 $541,491 Down ×1
IEFA iShares Core MSCI EAFE ETF $3,630,324 0.21% 37,589 $258,304 Up ×1
PEP PepsiCo, Inc. - Common Stock $3,483,301 0.20% 25,726 $-508,584 Up ×1
MU Micron Technology, Inc. - Common Stock $3,462,870 0.20% 3,000 $2,449,350
AVDV AMERICAN CENTURY ETF TRUST $3,435,551 0.20% 33,339 $53,500 Down ×1
MET MetLife, Inc. Common Stock $3,374,092 0.19% 39,878 $458,436 Down ×6
GOOGL Alphabet Inc. - Class A Common Stock $3,283,159 0.19% 9,187 $861,328 Up ×1
GSLC Goldman Sachs ETF Trust $3,172,377 0.18% 22,358 $280,872 Down ×3
SGOV iShares Trust $3,134,965 0.18% 31,141 $-451,451 Down ×1
DFEM Dimensional ETF Trust $3,061,549 0.18% 75,333 $595,424 Up ×2
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $2,995,400 0.17% 4 $122,840
O Realty Income Corporation Common Stock $2,939,073 0.17% 47,435 $-214,756 Down ×1
AVIV AMERICAN CENTURY ETF TRUST $2,798,806 0.16% 36,151 $141,585 Up ×2
INTC Intel Corporation - Common Stock $2,708,822 0.16% 19,400 $1,843,874 Down ×3
IEMG iShares, Inc. $2,689,694 0.16% 32,469 $313,507 Down ×1
KDP Keurig Dr Pepper Inc. - Common Stock $2,670,768 0.15% 81,600 $332,664 Down ×1
GOOG Alphabet Inc. - Class C Capital Stock $2,633,016 0.15% 7,452 $524,021 Up ×1
NYT New York Times Company (The) Common Stock $2,600,807 0.15% 37,165 $-511,019
BAC Bank of America Corporation Common Stock $2,535,212 0.15% 44,493 $322,303 Down ×1
EFAV iShares Trust $2,296,066 0.13% 26,178 $-87,024 Up ×3
LNG Cheniere Energy, Inc. Common Stock $2,174,991 0.13% 9,100 $-634,233 Down ×3
WD Walker & Dunlop, Inc Common Stock $2,092,348 0.12% 38,251 $479,253 Up ×1
VRSK Verisk Analytics, Inc. - Common Stock $1,984,166 0.11% 11,052 $-112,951
UNH UnitedHealth Group Incorporated Common Stock (DE) $1,931,122 0.11% 4,646 $630,327 Down ×6
PPIH Perma-Pipe International Holdings, Inc. - Common Stock $1,906,100 0.11% 70,000 $-180,600
CSCO Cisco Systems, Inc. - Common Stock $1,874,956 0.11% 15,963 $635,261 Down ×6
YUM Yum! Brands, Inc. $1,871,641 0.11% 11,708 $51,281
MPC Marathon Petroleum Corporation Common Stock $1,794,201 0.10% 7,018 $56,214 Down ×3
EUSA iShares MSCI USA Equal Weighted ETF $1,785,932 0.10% 15,640 $133,696 Down ×3
PFF iShares Preferred and Income Securities ETF $1,752,413 0.10% 57,475 $-87,253 Down ×1
AVGO Broadcom Inc. - Common Stock $1,737,650 0.10% 4,600 $313,904
MRK Merck & Company, Inc. Common Stock (new) $1,721,517 0.10% 13,397 $13,758 Down ×3
ALK Alaska Air Group, Inc. Common Stock $1,717,380 0.10% 32,900 $290,316 Down ×1
FLOT iShares Floating Rate Bond ETF $1,684,650 0.10% 33,000 $3,300
AVES AMERICAN CENTURY ETF TRUST $1,684,259 0.10% 25,675 $178,575 Up ×2
EQIX Equinix, Inc. - Common Stock $1,678,248 0.10% 1,610 $83,397 Down ×1
LRCX Lam Research Corporation - Common Stock $1,646,654 0.09% 3,800 $151,034 Down ×1
REGN Regeneron Pharmaceuticals, Inc. - Common Stock $1,622,630 0.09% 2,602 $-384,946 Up ×1
REGN Regeneron Pharmaceuticals, Inc. - Common Stock $1,621,204 0.09% 2,600 Put option $-310,396 Up ×1
J Jacobs Solutions Inc. Common Stock $1,540,648 0.09% 12,227 $-121,652 Down ×6
NEAR iShares U.S. ETF Trust $1,534,479 0.09% 30,290 $-147,953 Down ×1
CEF Sprott Physical Gold and Silver Trust Units $1,519,726 0.09% 37,776 $821,283 Up ×1
IAC IAC Inc. - Common Stock $1,518,664 0.09% 32,900 $101,602 Down ×2
NTR Nutrien Ltd. Common Shares $1,491,601 0.09% 23,695 $-19,109 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
IBDU $200,764,823 11.58% up ×3
SMTH $136,409,632 7.87% up ×3
DCRE $81,306,103 4.69% up ×3
VO $41,558,791 2.40% up ×3
OUNZ $23,917,581 1.38% up ×3
GLD $23,002,753 1.33% up ×3
TSEL $18,938,933 1.09% up ×3
QUAL $18,506,055 1.07% up ×3
BSCT $16,201,487 0.93% up ×3
VTI $14,203,180 0.82% up ×3
VCSH $13,386,033 0.77% up ×3
VCIT $11,781,683 0.68% up ×3
VGIT $9,956,118 0.57% up ×3
VGSH $9,954,378 0.57% up ×3
DFIC $6,377,211 0.37% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
BSCU $25,673,734 1,542,429 1.48%
GNRC $936,992 3,200 0.05%
BSX $840,796 19,700 0.05%
MKL $703,084 360 0.04%
OPLN $682,440 22,000 0.04%
BWA $664,000 10,000 0.04%
SBUX $586,060 5,735 0.03%
Unknown issuer (CUSIP: 438516205) $415,783 1,857 0.02%
Unknown issuer (CUSIP: 43849R105) $410,546 1,857 0.02%
MUNI $380,509 7,234 0.02%
PANW $341,020 1,000 0.02%
SJM $291,938 2,595 0.02%
MBLY $290,400 30,000 0.02%
WSC $282,828 9,800 0.02%
QCOM $277,185 1,500 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
IBDU Bought more +4.7M +$108.2M
GLW Trimmed -47K +$60.5M
GDX Trimmed -156K -$18.3M
COHR Trimmed -4K +$14.0M
LLY Price move only +0 +$12.6M
TXN Trimmed -2K +$12.4M
BSCQ Trimmed -616K -$12.0M
IVV Bought more +3K +$10.2M
QCOM Trimmed -2K +$8.1M
OUNZ Bought more +267K +$8.0M

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
OPLN Dec. 31, 2025 724,830 $13,974,726 18.0%
BSCP Dec. 31, 2025 404,736 $8,369,949 No longer tracked
UL (filed as ULXXXX) Dec. 31, 2025 101,675 $6,054,731 -7.7%
AON March 31, 2026 10,000 $3,528,800 -15.7%
NKE June 30, 2026 54,975 $2,903,767 -16.6%
WBD March 31, 2026 46,467 $1,339,179 12.7%
SGOV Dec. 31, 2025 13,276 $1,336,495 0.3%
GIS Dec. 31, 2025 17,920 $1,071,419 -31.2%
HON June 30, 2026 3,719 $840,606 -4.4%
GMREXXXX Dec. 31, 2025 85,750 $750,313 No longer tracked
AL June 30, 2026 9,600 $623,424 No longer tracked
SFY June 30, 2025 5,940 $605,405 31.1%
LIT Dec. 31, 2025 15,550 $603,340 6.4%
WEN Dec. 31, 2025 40,984 $599,597 -25.6%
GHC Dec. 31, 2025 500 $588,655 5.4%
ALBPRA March 31, 2026 9,850 $584,992 No longer tracked
BSJP Dec. 31, 2025 24,800 $571,640 No longer tracked
SBUX Sept. 30, 2025 5,735 $562,547 12.0%
BR March 31, 2026 2,500 $557,925 -2.1%
BN Dec. 31, 2025 8,400 $550,200 -19.4%
IBTJ June 30, 2026 25,044 $547,047
OLN Dec. 31, 2025 21,000 $524,790 -21.9%
UHALB Dec. 31, 2025 10,000 $509,000 No longer tracked
KLG Dec. 31, 2025 25,313 $504,489 No longer tracked
BSJQ June 30, 2026 21,500 $498,263
HRI Dec. 31, 2025 3,800 $443,308 -6.9%
SKX Dec. 31, 2025 7,600 $431,528 No longer tracked
HY June 30, 2025 10,340 $429,524 -18.7%
TGT Dec. 31, 2025 4,700 $424,522 56.5%
MBLY Dec. 31, 2025 30,000 $422,600 -27.4%
ANSS Dec. 31, 2025 1,300 $411,528 No longer tracked
GNRC Sept. 30, 2025 3,200 $405,280 28.6%
MHN March 31, 2026 38,700 $395,901 No longer tracked
HY Dec. 31, 2025 10,340 $387,404 8.9%
CHTR Dec. 31, 2025 979 $360,791 -48.4%
ATKR Dec. 31, 2025 0 $357,618 49.9%
IBMO June 30, 2026 13,601 $348,594
VCRM June 30, 2026 4,456 $334,869
PDCO Sept. 30, 2025 10,000 $312,400 No longer tracked
CVS Dec. 31, 2025 4,450 $301,488 8.4%
FSK March 31, 2026 20,001 $296,213 7.6%
BWA Sept. 30, 2025 10,275 $294,384 37.1%
ED Dec. 31, 2025 2,585 $285,876 4.1%
CNH Dec. 31, 2025 25,000 $271,250 45.5%
SPGI June 30, 2026 633 $269,241 3.0%
UPS Dec. 31, 2025 2,435 $267,826 -6.1%
PHIN June 30, 2026 3,859 $264,110 -26.5%
REZ Dec. 31, 2025 3,000 $259,260
TSLA March 31, 2026 574 $257,989 2.5%
COLD Dec. 31, 2025 21,000 $257,040 10.2%
HSIC June 30, 2026 3,400 $250,580 1.8%
BSV Dec. 31, 2025 3,187 $249,479
ED June 30, 2026 2,182 $246,959 -6.6%
TURN Dec. 31, 2025 61,333 $243,493 No longer tracked
ADBE June 30, 2026 1,000 $243,080 16.6%
ET Dec. 31, 2025 13,028 $242,191 No longer tracked
COF June 30, 2026 1,301 $237,303 -1.7%
ADP March 31, 2026 911 $234,337 28.1%
VLY June 30, 2026 19,000 $233,320 -12.9%
BND March 31, 2026 3,142 $232,740
META June 30, 2026 403 $230,569 31.6%
BXSL Dec. 31, 2025 7,115 $230,242 -10.3%
COIN March 31, 2026 1,000 $226,140 7.8%
EPD June 30, 2026 5,850 $221,364 0.8%
GEM March 31, 2026 5,317 $221,294
IT Dec. 31, 2025 525 $220,364 -25.6%
WSC Dec. 31, 2025 10,281 $220,250 -7.7%
SNPS March 31, 2026 461 $216,541 25.8%
BN June 30, 2025 4,130 $216,454 -10.2%
CPRI Dec. 31, 2025 10,900 $215,057 -40.6%
RACE Dec. 31, 2025 500 $213,940 3.7%
GIFI March 31, 2026 17,856 $213,737 No longer tracked
AXON June 30, 2026 500 $212,345 -25.1%
DSTL March 31, 2026 3,586 $211,226
HUM Dec. 31, 2025 794 $210,093 57.8%
NOC June 30, 2026 300 $204,672 -6.5%
MCK Dec. 31, 2025 300 $201,897 11.6%
DKS Dec. 31, 2025 1,000 $201,560 -30.7%
NFLX Dec. 31, 2025 215 $200,494 -27.8%
ICLN March 31, 2026 11,860 $194,860
FLG March 31, 2026 15,043 $189,392 -12.1%
MQY Dec. 31, 2025 13,000 $152,230 -12.4%
PARA Dec. 31, 2025 12,500 $149,500
BFZ March 31, 2026 10,000 $107,400 No longer tracked
BNY Dec. 31, 2025 10,000 $101,700
ENX Dec. 31, 2025 10,000 $94,900 No longer tracked
NCLH March 31, 2026 10,000 $90,600 -20.5%
CDE Dec. 31, 2025 15,000 $88,800 -5.6%
NUV Dec. 31, 2025 10,000 $87,700 -10.0%
FCO June 30, 2026 18,400 $57,960 No longer tracked
NIO Dec. 31, 2025 13,000 $49,530 -32.9%
PSEC Dec. 31, 2025 11,000 $45,100 -27.4%
CERS March 31, 2026 20,000 $41,200 26.6%