Sector breakdown

04
Technology 15.1%
Communication Services 5.1%
Financials 3.5%
Retail 2.8%
Industrials 2.0%
Energy 1.8%
Consumer Staples 1.7%
Health Care 1.6%
Consumer Discretionary 1.0%
Utilities 0.8%
Materials 0.6%
Real Estate 0.3%
Other/Unmapped 63.6%

Full portfolio 72 positions

05
Type Streak 8Q trend
SPY SPY $27,737,997 13.64% 36,371 $2,710,000 Up ×1
ITOT iShares Trust $12,950,552 6.37% 77,884 $-211,111 Down ×3
SHY iShares 1-3 Year Treasury Bond ETF $12,760,255 6.28% 157,146 $3,694,079 Up ×2
QQQ Invesco QQQ Trust, Series 1 $11,508,232 5.66% 15,556 $288,774 Up ×1
AAPL Apple Inc. - Common Stock $8,760,091 4.31% 26,305 $1,185,101 Up ×1
MSFT Microsoft Corporation - Common Stock $8,401,558 4.13% 16,380 $1,992,277 Down ×1
VEA VANGUARD TAX-MANAGED FUNDS $8,279,305 4.07% 117,254 $-165,673 Down ×2
NVDA NVIDIA Corporation - Common Stock $8,024,702 3.95% 35,137 $922,884 Down ×1
IAUM iShares Gold Trust Micro Shares $7,573,295 3.72% 182,841 $2,567,464 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $6,261,740 3.08% 18,198 $111,958 Up ×1
AMZN Amazon.com, Inc. - Common Stock $5,022,241 2.47% 20,157 $565,402 Up ×4
GOVT iShares Trust $4,555,598 2.24% 208,303 $-4,288,389 Down ×6
IVV iShares Core S&P 500 ETF $3,876,733 1.91% 5,062 $-197,571 Down ×6
FBTC Fidelity Wise Origin Bitcoin Fund $3,604,299 1.77% 49,618 $1,520,915 Up ×4
TLT iShares 20+ Year Treasury Bond ETF $3,149,196 1.55% 40,488 $-424,401 Down ×1
ETHA iShares Ethereum Trust ETF $3,125,582 1.54% 155,347 $1,486,129 Up ×3
SPYM State Street SPDR Portfolio S&P 500 ETF $3,039,633 1.49% 33,864 $-143,763 Down ×5
IEF iShares 7-10 Year Treasury Bond ETF $2,731,457 1.34% 30,584 $-2,414,290 Down ×1
KOID KraneShares Global Humanoid and Embodied Intelligence Index ETF $2,537,652 1.25% 71,023 $577,600 Up ×1
PPA Invesco Exchange-Traded Fund Trust $2,366,768 1.16% 15,307 $-173,919 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $2,340,288 1.15% 3,825 $-1,253,651 Down ×5
KDEF Exchange Listed Funds Trust $2,233,860 1.10% 53,971 $240,855 Up ×2
EPOL iShares Trust $2,199,469 1.08% 49,627 $-403,270 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $2,169,739 1.07% 2,992 $248,885 Down ×2
JBS JBS N.V. Class A Common Shares $2,165,501 1.07% 191,807 $963,864 Up ×2
KWEB Krane Shares Trust $2,116,855 1.04% 86,367 $547,447 Up ×3
JPM JP Morgan Chase & Co. Common Stock $1,858,107 0.91% 5,616 $-111,386 Down ×1
EWS iShares, Inc. $1,820,918 0.90% 54,748 $42,749 Down ×1
KBA Krane Shares Trust $1,733,414 0.85% 56,025 $-167,979 Up ×1
XLE SELECT SECTOR SPDR TRUST $1,704,842 0.84% 27,721 $147,417 Down ×3
SGOV iShares Trust $1,661,925 0.82% 16,507 $-1,832,431 Down ×3
CVX Chevron Corporation Common Stock $1,471,803 0.72% 7,207 $194,636 Down ×1
FDS FactSet Research Systems Inc. Common Stock $1,431,005 0.70% 5,301 $226,536 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,383,803 0.68% 2,779 $77,285 Up ×3
BUG Global X Cybersecurity ETF $1,338,112 0.66% 28,976 $-1,670 Down ×1
MTUM iShares Trust $1,326,481 0.65% 4,180 $-118,890 Down ×1
CDNS Cadence Design Systems, Inc. - Common Stock $1,326,023 0.65% 4,016 $234,217 Up ×3
ABT Abbott Laboratories Common Stock $1,311,771 0.65% 13,273 $94,857 Down ×1
LNG Cheniere Energy, Inc. Common Stock $1,303,741 0.64% 4,846 $38,310 Down ×1
NFLX Netflix, Inc. - Common Stock $1,301,911 0.64% 18,711 $294,600 Up ×5
COF Capital One Financial Corporation Common Stock $1,289,128 0.63% 6,677 $66,550 Up ×3
EME EMCOR Group, Inc. Common Stock $1,288,669 0.63% 1,708 $68,745 Up ×1
DOCN DigitalOcean Holdings, Inc. Common Stock $1,279,877 0.63% 9,595 $-280,844 Down ×3
ZGN Ermenegildo Zegna N.V. Ordinary Shares $1,173,638 0.58% 93,891 $-60,020 Down ×2
JNJ Johnson & Johnson Common Stock $1,061,078 0.52% 4,008 $-113,787 Down ×3
GEV GE Vernova Inc. Common Stock $1,050,291 0.52% 1,105 $-99,897 Up ×2
TDG Transdigm Group Incorporated Common Stock $970,010 0.48% 896 $18,933 Up ×3
ENSG The Ensign Group, Inc. - Common Stock $918,652 0.45% 5,341 $138,151 Up ×3
NCLH Norwegian Cruise Line Holdings Ltd. Ordinary Shares $911,874 0.45% 62,201 $-131,984 Up ×3
VLO Valero Energy Corporation Common Stock $834,137 0.41% 2,152 $105,686 Down ×3
MS Morgan Stanley Common Stock $704,924 0.35% 3,748 $-56,609 Up ×3
ENS EnerSys Common Stock $697,781 0.34% 3,802 $-173,666 Up ×1
KO Coca-Cola Company (The) Common Stock $691,739 0.34% 8,036 $34,789 Down ×1
SHW Sherwin-Williams Company (The) Common Stock $666,259 0.33% 2,061 $13,773 Up ×3
PLD Prologis, Inc. Common Stock $654,134 0.32% 5,038 $9,703 Up ×3
DG Dollar General Corporation Common Stock $649,798 0.32% 5,434 $31,197 Up ×2
VWO Vanguard FTSE Emerging Markets ETF $644,344 0.32% 10,864 $-22,095 Down ×1
T AT&T Inc. $628,300 0.31% 25,750 $131,703 Up ×2
APD Air Products and Chemicals, Inc. Common Stock $619,062 0.30% 2,225 $-10,395 Up ×3
OLED Universal Display Corporation - Common Stock $616,089 0.30% 7,997 $110,663 Up ×3
AEP American Electric Power Company, Inc. - Common Stock $615,860 0.30% 5,191 $-47,805 Up ×3
NEE NextEra Energy, Inc. Common Stock $614,403 0.30% 8,112 $9,843 Up ×3
CALF Pacer Funds Trust $609,417 0.30% 11,438 $24,214 Down ×1
HSY The Hershey Company Common Stock $582,999 0.29% 3,699 $12,436 Up ×1
QQQM Invesco NASDAQ 100 ETF $580,644 0.29% 1,906 $-95,326 Down ×5
CPK Chesapeake Utilities Corporation Common Stock $497,526 0.24% 3,873 $23,161
Unknown issuer (CUSIP: 30233Q108) $490,854 0.24% 3,016 Up ×1
MTG MGIC Investment Corporation Common Stock $397,910 0.20% 15,399 $-24,300 Up ×1
IXUS iShares Core MSCI Total International Stock ETF $342,724 0.17% 3,608 $-102,402 Down ×6
USIG iShares Broad USD Investment Grade Corporate Bond ETF $334,589 0.16% 6,869 $-24,133 Down ×2
SPHY SPDR SERIES TRUST $221,450 0.11% 9,803 $-14,802 Down ×3
IEMG iShares, Inc. $220,674 0.11% 2,719 $-70,470 Down ×6

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
AMZN $5,022,241 2.47% up ×4
FBTC $3,604,299 1.77% up ×4
ETHA $3,125,582 1.54% up ×3
KWEB $2,116,855 1.04% up ×3
BRK-B (filed as BRKB) $1,383,803 0.68% up ×3
CDNS $1,326,023 0.65% up ×3
NFLX $1,301,911 0.64% up ×5
COF $1,289,128 0.63% up ×3
TDG $970,010 0.48% up ×3
ENSG $918,652 0.45% up ×3
NCLH $911,874 0.45% up ×3
MS $704,924 0.35% up ×3
SHW $666,259 0.33% up ×3
PLD $654,134 0.32% up ×3
APD $619,062 0.30% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 30233Q108) $490,854 3,016 0.24%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
GOVT Trimmed -180K -$4.3M
SHY Bought more +47K +$3.7M
SPY Bought more +3K +$2.7M
IAUM Bought more +58K +$2.6M
IEF Trimmed -24K -$2.4M
MSFT Trimmed -802 +$2.0M
SGOV Trimmed -18K -$1.8M
FBTC Bought more +9K +$1.5M
ETHA Bought more +17K +$1.5M
AMD Trimmed -2K -$1.3M

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
REMX Sept. 30, 2026 22,830 $2,020,455 3.7%
URA Sept. 30, 2026 43,629 $1,906,587 -2.4%
LQD Sept. 30, 2026 11,417 $1,245,252 1.0%
MU Sept. 30, 2026 494 $570,219 -17.6%
BPRE Sept. 30, 2026 39,489 $513,754 -0.7%
IUSB Dec. 31, 2025 10,551 $492,837
XOM Sept. 30, 2026 3,510 $479,887 12.6%
LRCX March 31, 2026 2,270 $388,579 7.7%
YUM Sept. 30, 2026 2,271 $363,042 9.8%
PEP Sept. 30, 2026 2,660 $360,164 7.1%
SPOT Dec. 31, 2025 465 $324,570 0.6%
GOOG Dec. 31, 2025 1,005 $244,768 1.1%
TRMB March 31, 2026 3,000 $235,050 -2.7%
V June 30, 2025 602 $210,977 14.9%
COWZ March 31, 2026 3,352 $201,717