Sector breakdown

04
Industrials 8.4%
Financials 5.3%
Communication Services 4.2%
Technology 3.9%
Consumer Discretionary 2.7%
Consumer products 2.5%
Retail 2.0%
Healthcare 2.0%
Energy 1.0%
Consumer Staples 0.1%
Other/Unmapped 68.0%

Full portfolio 73 positions

05
Type Streak 8Q trend
MTBA Simplify Exchange Traded Funds $44,273,604 9.90% 902,254 $853,906 Up ×6
DFAC Dimensional ETF Trust $40,652,311 9.09% 916,418 $5,430,105 Up ×1
TMSL T. Rowe Price Small-Mid Cap ETF $35,680,395 7.97% 813,692 $5,931,050 Up ×1
VSLU Applied Finance Valuation Large Cap ETF $34,595,239 7.73% 748,065 $4,531,424 Up ×6
DFAT Dimensional ETF Trust $30,172,905 6.74% 431,658 $3,287,615 Up ×1
TLH iShares 10-20 Year Treasury Bond ETF $27,597,354 6.17% 275,011 $298,507 Up ×4
FBND Fidelity Merrimack Street Trust $20,964,340 4.69% 460,856 $780,090 Up ×6
DFIC Dimensional ETF Trust $16,143,402 3.61% 433,264 $768,523 Up ×3
DFEM Dimensional ETF Trust $11,993,091 2.68% 295,106 $583,421 Down ×6
AVDE AMERICAN CENTURY ETF TRUST $10,229,189 2.29% 114,677 $1,154,023 Up ×2
FRDM Freedom 100 Emerging Markets ETF $9,142,667 2.04% 125,414 $-213,047 Down ×2
GOOG Alphabet Inc. - Class C Capital Stock $8,949,496 2.00% 25,329 $1,567,153 Down ×1
SGOV iShares Trust $7,863,737 1.76% 78,114 $1,136,025 Up ×2
APH Amphenol Corporation Common Stock $7,770,952 1.74% 44,073 $2,040,600 Down ×6
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $7,534,623 1.68% 15,058 $380,406 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $6,904,071 1.54% 19,319 $1,226,522 Down ×6
TSLA Tesla, Inc. - Common Stock $6,748,527 1.51% 16,045 $762,608 Down ×1
V Visa Inc. $5,135,372 1.15% 14,968 $715,112 Up ×2
MSFT Microsoft Corporation - Common Stock $5,053,214 1.13% 13,547 $46,099 Up ×2
WAB Westinghouse Air Brake Technologies Corporation Common Stock $5,001,620 1.12% 18,552 $31,409 Down ×6
AMZN Amazon.com, Inc. - Common Stock $4,840,209 1.08% 20,308 $685,222 Up ×2
CVCO Cavco Industries, Inc. - Common Stock $4,784,792 1.07% 7,788 $1,065,444 Up ×1
CSL Carlisle Companies Incorporated Common Stock $4,757,104 1.06% 13,114 $374,338 Down ×2
SYK Stryker Corporation Common Stock $4,731,101 1.06% 15,027 $-249,667 Down ×1
DHI D.R. Horton, Inc. Common Stock $4,415,677 0.99% 27,110 $691,526 Down ×4
MKL Markel Group Inc. Common Stock $4,327,871 0.97% 2,216 $92,034 Up ×1
PCAR PACCAR Inc. - Common Stock $4,302,699 0.96% 35,820 $131,070 Down ×6
GD General Dynamics Corporation Common Stock $4,245,812 0.95% 11,986 $-237,525 Down ×4
TPL Texas Pacific Land Corporation Common Stock $4,216,224 0.94% 9,634 $-289,249 Up ×3
CAVA CAVA Group, Inc. Common Stock $4,034,893 0.90% 51,413 $-338,561 Down ×1
NXPI NXP Semiconductors N.V. - Common Stock $3,959,432 0.88% 14,089 $889,597 Down ×1
UFPI UFP Industries, Inc. - Common Stock $3,706,367 0.83% 40,846 $210,965 Up ×2
CMI Cummins Inc. Common Stock $3,631,666 0.81% 5,092 $772,089 Down ×6
UBER Uber Technologies, Inc. Common Stock $3,571,199 0.80% 49,490 $18,504 Up ×2
A Agilent Technologies, Inc. Common Stock $3,528,231 0.79% 26,562 $578,998 Up ×1
FFIN First Financial Bankshares, Inc. - Common Stock $3,295,858 0.74% 95,256 $482,087 Down ×3
LOW Lowe's Companies, Inc. Common Stock $3,228,856 0.72% 14,644 $-266,671 Down ×6
SFBS ServisFirst Bancshares, Inc. Common Stock $3,030,959 0.68% 34,939 $631,865 Up ×1
EMTL SSGA Active Trust $2,903,681 0.65% 67,996 $72,435 Up ×6
NOW ServiceNow, Inc. Common Stock $2,860,158 0.64% 28,809 Up ×1
IUSG iShares Core S&P U.S. Growth ETF $2,834,329 0.63% 15,069 $460,215 Down ×6
ACN Accenture plc Class A Ordinary Shares (Ireland) $2,822,797 0.63% 22,684 $-171,977 Up ×5
META Meta Platforms, Inc. - Class A Common Stock $2,418,377 0.54% 4,293 $-494,430 Down ×1
NVR NVR, Inc. Common Stock $1,866,872 0.42% 274 $-604,315 Down ×2
INTU Intuit Inc. - Common Stock $1,807,164 0.40% 6,924 $-1,314,620 Down ×1
IJK iShares Trust $1,460,055 0.33% 12,426 $198,582 Down ×6
USFR WisdomTree Floating Rate Treasury Fund $1,175,119 0.26% 23,339 $-225,592 Down ×2
IJH iShares Trust $1,130,754 0.25% 14,664 $-908,652 Down ×4
VOO Vanguard S&P 500 ETF $940,930 0.21% 1,370 $109,737 Down ×2
WMT Walmart Inc. - Common Stock $892,870 0.20% 7,883 $-86,875
AAPL Apple Inc. - Common Stock $702,648 0.16% 2,428 $70,203 Down ×1
DIA State Street SPDR Dow Jones Industrial Average ETF Trust $652,988 0.15% 1,250 $74,000
CSCO Cisco Systems, Inc. - Common Stock $617,135 0.14% 5,254 $221,038 Up ×4
RAVE Rave Restaurant Group, Inc. - Common Stock $597,756 0.13% 182,800 $113,336
IHI iShares Trust $562,286 0.13% 11,380 $-44,837
VEA Vanguard FTSE Developed Markets ETF $531,383 0.12% 7,458 $53,474
AFL AFLAC Incorporated Common Stock $514,142 0.11% 4,385 $33,063
JNJ Johnson & Johnson Common Stock $499,813 0.11% 1,968 $26,088 Up ×2
IVV iShares Trust $489,026 0.11% 653 $62,479
VRSK Verisk Analytics, Inc. - Common Stock $386,888 0.09% 2,155 $-22,024
NVDA NVIDIA Corporation - Common Stock $379,528 0.08% 1,897 $46,401 Down ×1
CTA Simplify Exchange Traded Funds $378,439 0.08% 14,589 Up ×1
KO Coca-Cola Company (The) Common Stock $329,653 0.07% 4,056 $2,009 Down ×1
IWD iShares Russell 1000 Value ETF $328,978 0.07% 1,357 $30,481 Down ×2
XOM Exxon Mobil Corporation Common Stock $313,499 0.07% 2,293 $-75,532
BSV VANGUARD BOND INDEX FUNDS $296,214 0.07% 3,802 $19,269 Up ×2
YUM Yum! Brands, Inc. $283,912 0.06% 1,776 $10,889 Up ×1
IBIT iShares Bitcoin Trust ETF $247,245 0.06% 7,427
EFG iShares Trust $246,725 0.06% 1,983 $18,750 Down ×3
BKLC BNY Mellon ETF Trust $237,024 0.05% 1,653
MCD McDonald's Corporation Common Stock $236,609 0.05% 875 $-29,428 Up ×2
IUSV iShares Core S&P U.S. Value ETF $235,501 0.05% 2,138 $16,890
QQQ Invesco QQQ Trust, Series 1 $212,047 0.05% 288 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
MTBA $44,273,604 9.90% up ×6
VSLU $34,595,239 7.73% up ×6
TLH $27,597,354 6.17% up ×4
FBND $20,964,340 4.69% up ×6
DFIC $16,143,402 3.61% up ×3
TPL $4,216,224 0.94% up ×3
EMTL $2,903,681 0.65% up ×6
ACN $2,822,797 0.63% up ×5
CSCO $617,135 0.14% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
NOW $2,860,158 28,809 0.64%
CTA $378,439 14,589 0.08%
IBIT $247,245 7,427 0.06%
BKLC $237,024 1,653 0.05%
QQQ $212,047 288 0.05%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
TMSL Bought more +2K +$5.9M
DFAC Bought more +10K +$5.4M
VSLU Bought more +29K +$4.5M
DFAT Bought more +1K +$3.3M
APH Trimmed -1K +$2.0M
GOOG Trimmed -406 +$1.6M
INTU Trimmed -296 -$1.3M
GOOGL Trimmed -425 +$1.2M
AVDE Bought more +8K +$1.2M
SGOV Bought more +11K +$1.1M

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
IEI June 30, 2025 143,492 $16,951,428
SHY June 30, 2025 130,195 $10,771,033
GNRC Dec. 31, 2025 26,138 $4,375,502 57.8%
CASY June 30, 2025 8,926 $3,874,242 21.0%
CFR Dec. 31, 2025 26,029 $3,299,697 21.5%
PYPL Dec. 31, 2025 43,485 $2,916,105 -6.8%
AMD June 30, 2026 14,062 $2,860,633 8.8%
RMD March 31, 2026 11,830 $2,849,493 -0.7%
OZK June 30, 2025 59,833 $2,599,744 -1.0%
SFBS June 30, 2025 30,526 $2,521,448 1.9%
KRE Sept. 30, 2025 31,227 $1,854,572
VTEB March 31, 2026 16,168 $813,089
PEP June 30, 2025 4,218 $632,447 -4.8%
REI March 31, 2026 500,000 $435,000 No longer tracked
IBIT Dec. 31, 2025 6,487 $421,655 -2.2%
BTCO June 30, 2026 6,210 $418,989
PG June 30, 2025 2,183 $372,032 -8.4%
SMMU Dec. 31, 2025 5,540 $280,158
TBLL June 30, 2025 2,278 $240,409
VTI June 30, 2026 749 $240,287 2.9%
VIG June 30, 2026 1,088 $233,986
HD June 30, 2026 680 $223,646 -20.3%
EPD Sept. 30, 2025 7,125 $220,947 17.7%
BKLC March 31, 2026 1,653 $216,213
IBM Sept. 30, 2025 683 $201,335 -21.5%