Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (11 quarters reported)
$456M in Q4 2022 → $3.89B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| VI Vanguard Index Fds | 34.0% | Trimmed 22% | 1,923,442 | $1.32B |
| IT Ishares Tr | 33.8% | Trimmed 23% | 1,752,811 | $1.31B |
| IT Ishares Tr | 25.8% | Trimmed 20% | 11,259,397 | $1B |
| SG SPDR Gold Tr | 6.4% | New | 679,765 | $250M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −515,300 | −$386M | 33.8% |
| VI Vanguard Index Fds | Trimmed | −556,220 | −$382M | 34.0% |
| SG SPDR Gold Tr | New | +679,765 | +$250M | 6.4% |
| IT Ishares Tr | Trimmed | −2,744,600 | −$244M | 25.8% |
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VI Vanguard Index Fds | Added | +1,194,246 | +$714M | 35.8% |
| IT Ishares Tr | Added | +1,091,124 | +$713M | 35.8% |
| IT Ishares Tr | Added | +6,396,076 | +$535M | 28.3% |
| IT Ishares Tr | Exited | −396,053 | −$43.6M | — |
quarter ended December 31, 2025 · filed February 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | New | +1,176,987 | +$806M | 35.3% |
| VI Vanguard Index Fds | New | +1,285,416 | +$806M | 35.3% |
| IT Ishares Tr | New | +7,607,921 | +$628M | 27.5% |
quarter ended September 30, 2024 · filed November 05, 2024
No position changes this quarter.
quarter ended June 30, 2024 · filed August 06, 2024
No position changes this quarter.
quarter ended March 31, 2024 · filed May 09, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VS Vanguard Scottsdale Fds | Exited | −1,750,000 | −$135M | — |
| VS Vanguard Scottsdale Fds | Exited | −1,115,056 | −$90.6M | — |
quarter ended December 31, 2023 · filed January 26, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VS Vanguard Scottsdale Fds | Trimmed | −2,614,224 | −$202M | 50.2% |
quarter ended September 30, 2023 · filed November 03, 2023
No position changes this quarter.
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