Sector breakdown

04
Technology 5.6%
Communication Services 2.7%
Financials 2.7%
Retail 1.4%
Industrials 1.3%
Consumer Staples 1.2%
Healthcare 1.1%
Energy 1.0%
Consumer products 0.6%
Consumer Discretionary 0.5%
Utilities 0.4%
Real Estate 0.0%
Materials 0.0%
Other/Unmapped 81.2%

Full portfolio 196 positions

05
Type Streak 8Q trend
SCHD SCHWAB STRATEGIC TRUST $27,083,501 14.72% 320,401 $-1,040,501 Down ×3
SPYG State Street SPDR Portfolio S&P 500 Growth ETF $19,414,382 10.55% 234,077 $-272,659 Down ×2
XMHQ Invesco Exchange-Traded Fund Trust $17,549,309 9.54% 171,079 $3,794,512 Up ×2
BBLU EA Series Trust $15,341,631 8.34% 1,207,052 $2,209,448 Up ×2
IWL iShares Russell Top 200 ETF $12,646,290 6.87% 90,048 $385,107 Down ×2
RWJ Invesco Exchange-Traded Fund Trust II $10,356,427 5.63% 226,568 $75,895 Down ×2
RSP Invesco Exchange-Traded Fund Trust $9,631,650 5.24% 53,760 $-281,758 Down ×2
XLP XLP $9,604,713 5.22% 115,719 $-974,329 Down ×2
AAPL Apple Inc. - Common Stock $7,959,408 4.33% 34,161 $649,284 Down ×2
ACWV iShares, Inc. $6,723,935 3.66% 58,709 $-74,320 Down ×2
DBEF DBX ETF Trust $6,094,434 3.31% 145,036 $1,156,070 Up ×2
VFH Vanguard Financials ETF $6,014,620 3.27% 54,723 $1,051 Down ×2
QQQ Invesco QQQ Trust, Series 1 $3,463,589 1.88% 7,096 $323,085 Up ×2
T AT&T Inc. $3,214,564 1.75% 146,117 $286,588 Down ×2
C Citigroup, Inc. Common Stock $1,975,797 1.07% 31,562 $-61,644 Down ×2
AMZN Amazon.com, Inc. - Common Stock $1,557,719 0.85% 8,360 $5,921 Up ×1
MO Altria Group, Inc. $1,459,487 0.79% 28,595 $381,671 Up ×2
ABBV AbbVie Inc. Common Stock $1,382,909 0.75% 7,003 $191,191 Up ×2
VZ Verizon Communications Inc. Common Stock $1,100,613 0.60% 24,507 $132,363 Up ×2
AMAT Applied Materials, Inc. - Common Stock $1,052,531 0.57% 5,209 $-174,115 Up ×2
CVX Chevron Corporation Common Stock $802,440 0.44% 5,449 $-40,009 Up ×2
FDX FedEx Corporation Common Stock $663,131 0.36% 2,423 $-60,007 Up ×2
PG Procter & Gamble Company (The) Common Stock $643,928 0.35% 3,718 $34,443 Up ×2
UNP Union Pacific Corporation Common Stock $618,889 0.34% 2,511 $53,856 Up ×2
V Visa Inc. $576,799 0.31% 2,098 $27,203 Up ×1
TRV The Travelers Companies, Inc. Common Stock $547,723 0.30% 2,339 $74,136 Up ×2
SOXX iShares Trust $541,347 0.29% 2,348 $36,074 Up ×2
VTV Vanguard Morningstar Value ETF $528,315 0.29% 3,026 $47,193 Up ×2
HD Home Depot, Inc. (The) Common Stock $516,757 0.28% 1,275 $79,600 Up ×1
NMFC New Mountain Finance Corporation - Common Stock $487,661 0.27% 40,706 $-499 Up ×1
AIZ Assurant, Inc. Common Stock $447,634 0.24% 2,251 $73,405
KMB Kimberly-Clark Corporation - Common Stock $446,693 0.24% 3,140 $16,530 Up ×2
CWB SPDR SERIES TRUST $446,648 0.24% 5,832 $28,237 Up ×2
ONEV SPDR SERIES TRUST $442,349 0.24% 3,408 $41,260 Up ×1
GOF Guggenheim Strategic Opportunities Fund Common Shares of Beneficial Interest $426,122 0.23% 27,038 $103,178 Up ×2
IGRO iShares Trust $418,913 0.23% 5,616 $-145,544 Down ×2
MSFT Microsoft Corporation - Common Stock $412,240 0.22% 958 $-40,696 Down ×2
AVGO Broadcom Inc. - Common Stock $365,702 0.20% 2,120 $25,311 Up ×1
NVDA NVIDIA Corporation - Common Stock $360,494 0.20% 2,968 $33,299 Up ×2
MCD McDonald's Corporation Common Stock $321,668 0.17% 1,056 $44,933 Down ×1
HON Honeywell International Inc. - Common Stock $315,836 0.17% 1,528 $-8,686 Up ×2
WEC WEC Energy Group, Inc. Common Stock $297,111 0.16% 3,089 $85,810 Up ×1
PEP PepsiCo, Inc. - Common Stock $295,639 0.16% 1,739 $-28,935 Down ×1
F Ford Motor Company Common Stock $294,672 0.16% 27,905 $-27,509 Up ×1
PM Philip Morris International Inc Common Stock $290,252 0.16% 2,391 $55,506 Up ×2
VHT Vanguard Health Care ETF $278,008 0.15% 985 $16,919 Up ×1
GE GE Aerospace Common Stock $277,632 0.15% 1,472 $43,984 Up ×1
EPD Enterprise Products Partners L.P. Common Stock $275,638 0.15% 9,469 $5,576 Up ×2
TGT Target Corporation Common Stock $272,260 0.15% 1,747 $-110,779 Down ×2
GNTX Gentex Corporation - Common Stock $267,154 0.15% 8,998 $-35,132 Up ×2
XOM Exxon Mobil Corporation Common Stock $257,861 0.14% 2,200 $-53,177 Down ×1
UMI USCF Midstream Energy Income Fund ETF $245,032 0.13% 5,462 $17,867 Up ×2
ITW Illinois Tool Works Inc. Common Stock $224,534 0.12% 857 $22,699 Up ×2
JPM JP Morgan Chase & Co. Common Stock $223,128 0.12% 1,058 $10,235 Up ×1
ET Energy Transfer LP Common Units $216,637 0.12% 13,498 $-1,277 Up ×2
GOOGL Alphabet Inc. - Class A Common Stock $212,339 0.12% 1,280 $-31,577 Down ×1
IOO iShares Trust $212,294 0.12% 2,141 $5,524
GOOG Alphabet Inc. - Class C Capital Stock $195,965 0.11% 1,172 $-31,116 Down ×2
BAC Bank of America Corporation Common Stock $183,964 0.10% 4,636 $-33,131 Down ×2
ABT Abbott Laboratories Common Stock $173,763 0.09% 1,524 $16,178 Up ×3
WMT Walmart Inc. - Common Stock $170,542 0.09% 2,112 $27,922 Up ×3
SPY SPY $155,998 0.08% 272 $-20,987 Down ×1
BTI British American Tobacco Industries, p.l.c. Common Stock ADR $151,217 0.08% 4,134 $25,987 Up ×2
MPC Marathon Petroleum Corporation Common Stock $149,532 0.08% 918 $-8,891 Up ×3
VOO Vanguard S&P 500 ETF $146,005 0.08% 277 $11,598 Up ×2
DOV Dover Corporation Common Stock $136,562 0.07% 712 $8,395 Up ×2
FISV Fiserv, Inc. - Common Stock $127,911 0.07% 712 $21,794
XLV SELECT SECTOR SPDR TRUST $123,923 0.07% 805 $7,093 Up ×2
VDE Vanguard Energy ETF $121,512 0.07% 992 $-4,594 Up ×1
CSCO Cisco Systems, Inc. - Common Stock $109,477 0.06% 2,057 $2,926 Down ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $109,089 0.06% 187 $14,418 Up ×1
CVS CVS Health Corporation Common Stock $101,858 0.06% 1,620 $3,554 Down ×2
IJH iShares Trust $93,231 0.05% 1,496 $5,685
VIG Vanguard Div Appreciation ETF $90,491 0.05% 457 $7,495 Up ×1
AEP American Electric Power Company, Inc. - Common Stock $89,149 0.05% 869 $13,552 Up ×2
PAG Penske Automotive Group, Inc. Common Stock $85,779 0.05% 528 $7,582 Up ×2
EIX Edison International Common Stock $82,589 0.04% 948 $15,146 Up ×2
SDG iShares MSCI Global Sustainable Development Goals ETF $82,571 0.04% 974 $3,388 Down ×2
IVV iShares Trust $74,607 0.04% 129 $-28,816 Down ×1
VYM Vanguard High Dividend Yield ETF $74,524 0.04% 581 $6,037 Up ×2
LRCX (filed as LRCXXXXX) Lam Research Corporation - Common Stock $71,187 0.04% 87 $-21,535
BP BP p.l.c. Common Stock $69,955 0.04% 2,229 $-8,402 Up ×2
CSX CSX Corporation - Common Stock $69,080 0.04% 2,001 $-1,584 Down ×1
MSI Motorola Solutions, Inc. Common Stock $68,835 0.04% 153 $9,881
DVY iShares Select Dividend ETF $68,292 0.04% 506 $-43,002 Down ×2
SNPE Xtrackers S&P 500 Scored & Screened ETF $68,055 0.04% 1,294 $3,445 Up ×2
VDC Vanguard Consumer Staples ETF $64,158 0.03% 294 $4,990 Up ×1
XLE SELECT SECTOR SPDR TRUST $63,435 0.03% 722 $-1,882 Up ×1
PNC PNC Financial Services Group, Inc. (The) Common Stock $63,020 0.03% 341 $10,407 Up ×2
XLK SELECT SECTOR SPDR TRUST $61,658 0.03% 273 $-19
VOD Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares $61,151 0.03% 6,103 $9,863 Up ×1
FIS Fidelity National Information Services, Inc. Common Stock $61,003 0.03% 728 $6,187 Up ×2
MGV VANGUARD WORLD FUND $60,772 0.03% 474 $31,739 Up ×1
IBB iShares Trust $59,915 0.03% 412 $3,509 Up ×1
QTEC First Trust NASDAQ-100-Technology Sector Index Fund $59,498 0.03% 311 $-1,913
LNG Cheniere Energy, Inc. Common Stock $56,916 0.03% 316 $1,654
INTC Intel Corporation - Common Stock $56,080 0.03% 2,390 $-17,513 Up ×1
ATI ATI Inc. Common Stock $53,528 0.03% 800 $9,168
OHI Omega Healthcare Investors, Inc. Common Stock $52,767 0.03% 1,296 $9,143 Up ×2
GM General Motors Company Common Stock $52,240 0.03% 1,165 $-1,786 Up ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
ABT $173,763 0.09% up ×3
WMT $170,542 0.09% up ×3
MPC $149,532 0.08% up ×3
USB $35,407 0.02% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
GSBD $32,502 2,362 0.02%
WAB $1,091 6 0.00%
BTC (filed as BTCXXXX) $1,025 182 0.00%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
XMHQ Bought more +29K +$3.8M
BBLU Bought more +118K +$2.2M
DBEF Bought more +26K +$1.2M
SCHD Trimmed -41K -$1.0M
XLP Trimmed -22K -$974K
AAPL Trimmed -547 +$649K
IWL Trimmed -1K +$385K
MO Bought more +5K +$382K
QQQ Bought more +541 +$323K
T Trimmed -7K +$287K

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
MMM June 30, 2025 23,407 $2,482,754 7.2%
VXUS June 30, 2025 1,205 $72,658
IWF June 30, 2025 210 $70,639 20.9%
MAN Sept. 30, 2025 908 $63,358 43.0%
SHY June 30, 2025 470 $38,434
BIL June 30, 2025 377 $34,625
BAR Sept. 30, 2025 1,500 $34,440 7.0%
VGSH June 30, 2025 586 $34,004
SCHW June 30, 2025 458 $33,117 7.4%
BHP June 30, 2025 540 $31,153 80.6%
GSBD June 30, 2025 1,965 $29,436 -19.6%
ITOT June 30, 2025 250 $28,768 24.6%
QCOM June 30, 2025 160 $27,088 13.5%
URA Sept. 30, 2025 902 $26,113 -15.7%
ALB June 30, 2025 187 $24,636 66.5%
COPX Sept. 30, 2025 544 $24,540
VNLA June 30, 2025 464 $22,508
JNJ Sept. 30, 2025 150 $21,947 36.4%
IDV June 30, 2025 730 $20,470
EEM June 30, 2025 475 $19,513
BX Sept. 30, 2025 146 $18,031 -34.7%
HES June 30, 2025 100 $15,264 No longer tracked
CAG June 30, 2025 491 $14,554 -35.6%
IUSG June 30, 2025 120 $14,066
HAL Sept. 30, 2025 405 $13,698 33.3%
VTI June 30, 2025 42 $10,916 25.2%
QUAL June 30, 2025 64 $10,519
GOVT June 30, 2025 421 $9,587
BLCN June 30, 2025 322 $9,101 No longer tracked
CTRA Sept. 30, 2025 340 $9,072 No longer tracked
VEA June 30, 2025 168 $8,442
IEMG June 30, 2025 112 $5,780
NFLX Sept. 30, 2025 8 $5,400 -94.4%
IWM June 30, 2025 25 $5,258 31.3%
AGG June 30, 2025 48 $4,730
MDT Sept. 30, 2025 50 $3,936 -7.6%
ZM Sept. 30, 2025 57 $3,374 13.5%
MBB June 30, 2025 34 $3,143
IBIT Sept. 30, 2025 90 $3,073 -25.3%
VCIT June 30, 2025 30 $2,416
SPIB June 30, 2025 65 $2,125
MASI June 30, 2025 12 $1,763 No longer tracked
IEFA Sept. 30, 2025 13 $975
EMB June 30, 2025 9 $808
VXX (filed as VXXXXXX) Sept. 30, 2025 68 $743 -48.1%
AHT (filed as AHTXXXX) Sept. 30, 2025 550 $535 -61.9%
DXC Sept. 30, 2025 25 $478 -14.5%
BODI June 30, 2025 9 $87 17.0%
WM June 30, 2025 0 $52 -9.7%
QID (filed as QIDXXXX) June 30, 2025 4 $38 -50.1%