Sector breakdown

04
Financials 5.0%
Technology 4.7%
Retail 3.8%
Industrials 3.3%
Healthcare 1.6%
Communication Services 1.0%
Energy 0.7%
Consumer products 0.4%
Consumer Staples 0.4%
Utilities 0.4%
Real Estate 0.1%
Materials 0.1%
Consumer Discretionary 0.1%
Other/Unmapped 78.3%

Full portfolio 183 positions

05
Type Streak 8Q trend
SCHD SCHWAB STRATEGIC TRUST $65,578,239 8.40% 2,068,062 $2,365,054 Up ×6
SCHG SCHWAB STRATEGIC TRUST $48,448,380 6.21% 1,431,690 $6,385,407 Down ×1
SCHM SCHWAB STRATEGIC TRUST $46,422,029 5.95% 1,259,073 $7,139,652 Down ×1
SCHF SCHWAB STRATEGIC TRUST $44,514,626 5.70% 1,607,026 $4,446,940 Down ×1
SCHV SCHWAB STRATEGIC TRUST $42,636,949 5.46% 1,224,848 $5,047,024 Down ×1
MOAT VanEck ETF Trust $40,672,746 5.21% 391,235 $3,251,048 Up ×6
VCIT Vanguard Intermediate-Term Corporate Bond ETF $34,456,908 4.42% 416,901 $1,928,941 Up ×6
AGG iShares Trust $32,150,882 4.12% 324,822 $1,202,765 Up ×6
IJR iShares Trust $26,086,623 3.34% 175,893 $4,125,534 Down ×1
IVV iShares Trust $23,884,349 3.06% 31,893 $3,051,522
IHDG WisdomTree Trust $20,121,005 2.58% 384,135 $1,585,720 Down ×1
IBDS iShares Trust $19,079,358 2.44% 787,752 $362,329 Up ×6
SCHY SCHWAB STRATEGIC TRUST $19,040,562 2.44% 600,081 $-209,780 Down ×1
IBDT iShares Trust $19,027,103 2.44% 753,549 $291,474 Up ×3
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $18,946,767 2.43% 37,864 $936,993 Up ×1
IBDU iShares Trust $18,388,855 2.36% 793,992 $287,225 Up ×2
TLH iShares Trust $17,805,000 2.28% 177,429 $308,627 Up ×2
AAPL Apple Inc. - Common Stock $12,740,394 1.63% 44,030 $1,625,586 Up ×2
NVDA NVIDIA Corporation - Common Stock $11,890,658 1.52% 59,427 $1,416,820 Down ×1
AMZN Amazon.com, Inc. - Common Stock $10,063,430 1.29% 42,223 $1,370,240 Up ×4
EFA iShares Trust $8,987,178 1.15% 86,515 $583,976
IEF iShares 7-10 Year Treasury Bond ETF $8,779,850 1.13% 92,840 $-257,095 Down ×3
MSFT Microsoft Corporation - Common Stock $7,537,403 0.97% 20,206 $34,902 Down ×1
AZO AutoZone, Inc. Common Stock $6,538,893 0.84% 2,046 $-372,045
HEFA iShares Trust $6,375,700 0.82% 135,870 $601,904
DIA State Street SPDR Dow Jones Industrial Average ETF Trust $6,340,770 0.81% 12,138 $657,429 Down ×6
IMCG iShares Trust $5,529,965 0.71% 56,256 $1,010,379 Down ×6
WMT Walmart Inc. - Common Stock $5,460,658 0.70% 48,213 $-577,395 Down ×1
VFLO VictoryShares Free Cash Flow ETF $4,254,430 0.55% 92,993 $1,062,433 Up ×6
IDXX IDEXX Laboratories, Inc. - Common Stock $4,056,747 0.52% 7,706 $-273,177
JPM JP Morgan Chase & Co. Common Stock $3,815,249 0.49% 11,656 $406,638 Up ×1
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $3,744,250 0.48% 5 $153,550
RTX RTX Corporation Common Stock $3,571,478 0.46% 18,824 $-108,282 Down ×4
GOOG Alphabet Inc. - Class C Capital Stock $3,491,099 0.45% 9,881 $662,822 Up ×1
JNJ Johnson & Johnson Common Stock $3,348,803 0.43% 13,186 $141,389 Up ×1
VEA VANGUARD TAX-MANAGED FUNDS $3,324,098 0.43% 46,654 $352,644 Up ×1
XOM Exxon Mobil Corporation Common Stock $3,312,835 0.42% 24,231 $-772,162 Up ×1
QQQ Invesco QQQ Trust, Series 1 $3,168,350 0.41% 4,302 $267,741 Down ×1
HD Home Depot, Inc. (The) Common Stock $3,090,888 0.40% 8,764 $451,546 Up ×2
JCI Johnson Controls International plc Ordinary Share $2,998,177 0.38% 20,520 $313,702 Up ×1
PG Procter & Gamble Company (The) Common Stock $2,916,820 0.37% 19,891 $62,531 Up ×2
ROK Rockwell Automation, Inc. Common Stock $2,855,126 0.37% 5,767 $793,719 Up ×1
BAC Bank of America Corporation Common Stock $2,773,439 0.36% 48,674 $400,607 Up ×1
USIG iShares Broad USD Investment Grade Corporate Bond ETF $2,732,782 0.35% 53,281 $3,196
TCHP T. Rowe Price Exchange-Traded Funds, Inc. $2,713,976 0.35% 54,182 $306,210 Down ×6
DE Deere & Company Common Stock $2,616,611 0.34% 4,125 $305,391 Up ×1
EMR Emerson Electric Company Common Stock $2,557,707 0.33% 17,867 $207,174 Down ×2
FDX FedEx Corporation Common Stock $2,478,420 0.32% 7,915 $-340,496 Up ×2
VTI VANGUARD INDEX FUNDS $2,304,610 0.30% 6,228 $533,127 Up ×3
TJX TJX Companies, Inc. (The) Common Stock $2,155,694 0.28% 14,229 $-100,228 Up ×1
VGK VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $2,045,777 0.26% 23,106 $63,533 Down ×6
V Visa Inc. $1,845,556 0.24% 5,379 $219,744
UNP Union Pacific Corporation Common Stock $1,754,812 0.22% 6,452 $200,565 Up ×1
VOOG VANGUARD ADMIRAL FUNDS $1,747,909 0.22% 21,156 $310,394 Up ×2
OSEA Harbor ETF Trust $1,738,612 0.22% 56,929 $84,785 Down ×1
KO Coca-Cola Company (The) Common Stock $1,729,322 0.22% 21,279 $133,426 Up ×1
LLY Eli Lilly and Company Common Stock $1,660,047 0.21% 1,384 $387,060
GOOGL Alphabet Inc. - Class A Common Stock $1,583,529 0.20% 4,431 $309,577 Up ×3
IBM International Business Machines Corporation Common Stock $1,510,901 0.19% 5,373 $214,876 Up ×1
DBEU DBX ETF Trust $1,413,021 0.18% 26,188 $92,368 Down ×4
SCHA SCHWAB STRATEGIC TRUST $1,314,482 0.17% 36,382 $234,422 Down ×4
PGR Progressive Corporation (The) Common Stock $1,299,122 0.17% 5,947 $120,189
SPY SPY $1,268,762 0.16% 1,699 $-147,146 Down ×1
TOTL SSGA Active Trust $1,262,724 0.16% 31,992 $-388,097 Down ×4
EXPD Expeditors International of Washington, Inc. Common Stock $1,259,183 0.16% 7,726 $152,588
ABBV AbbVie Inc. Common Stock $1,253,909 0.16% 4,983 $186,059 Up ×6
VIOG VANGUARD ADMIRAL FUNDS $1,217,541 0.16% 7,936 $229,826
VOO VANGUARD INDEX FUNDS $1,216,743 0.16% 1,772 $187,759 Up ×1
NEE NextEra Energy, Inc. Common Stock $1,215,464 0.16% 13,848 $-57,208 Up ×4
DFUS Dimensional ETF Trust $1,153,469 0.15% 14,077 $155,269
COST Costco Wholesale Corporation - Common Stock $1,113,209 0.14% 1,190 $-72,543
SCHW Charles Schwab Corporation (The) Common Stock $1,097,552 0.14% 11,895 $-20,340
Unknown issuer (CUSIP: 438516205) $1,094,423 0.14% 4,888 Up ×1
Unknown issuer (CUSIP: 43849R105) $1,080,639 0.14% 4,888 Up ×1
SCHX SCHWAB STRATEGIC TRUST $1,044,029 0.13% 35,475 $134,450
GL Globe Life Inc. Common Stock $1,011,070 0.13% 5,659 $221,806 Down ×1
PEP PepsiCo, Inc. - Common Stock $955,816 0.12% 7,059 $-140,398
IVE iShares Trust $952,971 0.12% 4,197 $51,783 Down ×3
MRK Merck & Company, Inc. Common Stock (new) $938,721 0.12% 7,305 $163,933 Up ×1
IMCB iShares Trust $922,534 0.12% 9,554 $125,444
ILCG iShares Trust $918,022 0.12% 7,845 $126,970 Down ×1
VTEB VANGUARD MUNICIPAL BOND FUNDS $910,845 0.12% 18,008
CVX Chevron Corporation Common Stock $899,194 0.12% 5,425 $-201,165 Up ×3
T AT&T Inc. $897,896 0.12% 43,377 $-342,314 Up ×1
XLK SELECT SECTOR SPDR TRUST $853,997 0.11% 4,482 $229,367 Down ×1
TCAF T. Rowe Price Exchange-Traded Funds, Inc. $816,739 0.10% 19,872 $131,703 Up ×4
XLG Invesco Exchange-Traded Fund Trust $801,501 0.10% 13,090 $87,441
SEIX Virtus ETF Trust II $801,431 0.10% 34,649 $-117,042 Down ×2
RY Royal Bank Of Canada Common Stock $801,388 0.10% 3,872 $174,976
MDY State Street SPDR S&P MIDCAP 400 ETF Trust $779,301 0.10% 1,108 $95,931
FAST Fastenal Company - Common Stock $739,614 0.09% 15,399 $25,100
CSCO Cisco Systems, Inc. - Common Stock $703,176 0.09% 5,987 $238,683
PNFP Pinnacle Financial Partners, Inc. - Common Stock $696,236 0.09% 6,902 $101,778 Up ×1
SO Southern Company (The) Common Stock $679,527 0.09% 7,100 $-19,301 Down ×1
SCHB SCHWAB STRATEGIC TRUST $665,315 0.09% 22,974 $63,829 Down ×2
MA Mastercard Incorporated Common Stock $655,354 0.08% 1,276 $17,788
TSCO Tractor Supply Company - Common Stock $648,005 0.08% 20,500 $-280,645
ORLY O'Reilly Automotive, Inc. - Common Stock $645,183 0.08% 7,006 $-1,541
WFC Wells Fargo & Company Common Stock $644,509 0.08% 7,799 $31,910 Up ×1
VXUS Vanguard Total International Stock ETF $631,344 0.08% 7,385 $61,887

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
SCHD $65,578,239 8.40% up ×6
MOAT $40,672,746 5.21% up ×6
VCIT $34,456,908 4.42% up ×6
AGG $32,150,882 4.12% up ×6
IBDS $19,079,358 2.44% up ×6
IBDT $19,027,103 2.44% up ×3
AMZN $10,063,430 1.29% up ×4
VFLO $4,254,430 0.55% up ×6
VTI $2,304,610 0.30% up ×3
GOOGL $1,583,529 0.20% up ×3
ABBV $1,253,909 0.16% up ×6
NEE $1,215,464 0.16% up ×4
CVX $899,194 0.12% up ×3
TCAF $816,739 0.10% up ×4
DFUV $502,575 0.06% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 438516205) $1,094,423 4,888 0.14%
Unknown issuer (CUSIP: 43849R105) $1,080,639 4,888 0.14%
VTEB $910,845 18,008 0.12%
Unknown issuer (CUSIP: 314352105) $596,148 3,948 0.08%
INTC $481,877 3,451 0.06%
GPIX $364,039 6,551 0.05%
MU $340,787 295 0.04%
NUE $255,717 1,148 0.03%
IWM $230,205 766 0.03%
VYMI $222,718 2,268 0.03%
D $217,777 3,189 0.03%
AMAT $216,249 299 0.03%
GLW $215,248 843 0.03%
IVW $205,882 1,497 0.03%
IJJ $202,686 1,372 0.03%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SCHM Trimmed -10K +$7.1M
SCHG Trimmed -12K +$6.4M
SCHV Trimmed -8K +$5.0M
SCHF Trimmed -12K +$4.4M
IJR Trimmed -771 +$4.1M
MOAT Bought more +4K +$3.3M
IVV Price move only +0 +$3.1M
SCHD Bought more +8K +$2.4M
VCIT Bought more +24K +$1.9M
AAPL Bought more +235 +$1.6M

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
IBDQ Dec. 31, 2025 671,458 $16,914,030
HON June 30, 2026 9,576 $2,164,463 -4.4%
FPI Dec. 31, 2025 97,465 $1,060,419 16.0%
NREF Dec. 31, 2025 40,083 $568,377 12.3%
CRM March 31, 2026 1,211 $320,806 25.7%
FLOT Dec. 31, 2025 6,275 $320,558
IVW March 31, 2026 2,552 $314,560 26.7%
CNH June 30, 2026 25,000 $275,000 19.9%
VFH Dec. 31, 2025 2,024 $265,584
SHV March 31, 2026 2,355 $259,403
SCHO Sept. 30, 2025 10,632 $259,217 -2.1%
VBR Dec. 31, 2025 1,239 $258,592
VCSH June 30, 2026 3,196 $253,347
VTEB Sept. 30, 2025 5,155 $252,750
CME June 30, 2026 855 $252,524 19.2%
PSA Sept. 30, 2025 860 $252,341 -1.7%
OBDC March 31, 2026 20,000 $248,600 -6.9%
SLV June 30, 2026 3,613 $246,190 2.4%
GBTC Dec. 31, 2025 2,665 $239,237 -4.8%
CVS June 30, 2025 3,525 $238,819 25.3%
CACC Dec. 31, 2025 484 $225,994 19.0%
KMX Sept. 30, 2025 3,285 $220,785 22.4%
ETN Sept. 30, 2025 617 $220,263 16.5%
DIS March 31, 2026 1,926 $219,102 6.0%
CI Sept. 30, 2025 657 $217,191 -6.1%
D Sept. 30, 2025 3,739 $211,328 0.2%
AXON Sept. 30, 2025 252 $208,641 -42.4%
WCN Sept. 30, 2025 1,108 $206,886 -12.5%
AB June 30, 2026 5,510 $206,294 -0.6%
AMT Dec. 31, 2025 1,072 $206,167 -7.6%
BLK March 31, 2026 190 $203,365 10.2%
DVY June 30, 2025 1,500 $201,435
ICLN June 30, 2025 10,658 $121,714