BDFS Capital LLC

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Portfolio value: $203M
Positions: 117
Quarter ended: September 30, 2026
Filed: October 14, 2026

Reported portfolio value by quarter (4 quarters reported)

$230M $198M

Q4 25 Q1 26 Q2 26 Q3 26

$198M in Q4 2025 → $203M now. Hover for any quarter.

Holdings

As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
FT First Tr Exchange-traded Fd	32.7%	Trimmed 3.3%	1,110,376	$66.3M
IT Ishares Tr	5.7%	Added 0.3%	105,220	$11.6M
VC Vanguard Charlotte Fds	4.6%	Added 4.6%	200,913	$9.42M
DE Dimensional ETF Trust	4.6%	Added 33%	200,344	$9.31M
DE Dimensional ETF Trust	4.0%	Added 4.9%	218,090	$8.2M
DE Dimensional ETF Trust	2.0%	Trimmed 8.2%	102,106	$4.1M
Nvidia Corporation	2.0%	Added 0.4%	17,677	$4.04M
Apple Inc	1.9%	Trimmed 0.5%	11,304	$3.76M
VS Vanguard Scottsdale Fds	1.6%	Added 1.7%	57,459	$3.31M
VB Vanguard Bd Index Fds	1.6%	Trimmed 1.2%	45,879	$3.22M
Microsoft Corp	1.5%	Added 5.4%	6,104	$3.13M
DE Dimensional ETF Trust	1.4%	Added 10%	72,053	$2.86M
JH John Hancock Exchange Traded	1.3%	Trimmed 8.4%	125,776	$2.73M
VI Vanguard Index Fds	1.3%	Added 26%	7,008	$2.62M
VS Vanguard Scottsdale Fds	0.9%	Added 2.3%	43,128	$1.92M
VB Vanguard Bd Index Fds	0.9%	Added 15%	23,985	$1.83M
Meta Platforms Inc	0.9%	Trimmed 9.8%	2,512	$1.82M
Amazon Com Inc	0.8%	Trimmed 2.1%	6,730	$1.68M
Northrop Grumman Corp	0.8%	Unchanged	3,366	$1.63M
WT Wisdomtree Tr	0.8%	Trimmed 2.4%	31,544	$1.59M
IT Ishares Tr	0.7%	Added 28%	33,463	$1.51M
DE Dimensional ETF Trust	0.7%	Trimmed 7.8%	44,672	$1.5M
Johnson & Johnson	0.7%	Trimmed 0.1%	5,609	$1.48M
Boeing Co	0.7%	Trimmed 1.3%	7,831	$1.46M
SS State Str SPDR S&P 500 ETF T	0.7%	Added 0.1%	1,853	$1.41M
DE Dimensional ETF Trust	0.7%	Added 62%	16,511	$1.38M
DE Dimensional ETF Trust	0.6%	Added 2.6%	29,916	$1.3M
Alphabet Inc	0.6%	Added 3.8%	3,708	$1.26M
IG Ishares Gold Tr	0.6%	Added 57%	15,662	$1.22M
MP Monolithic Pwr Sys Inc	0.6%	Added 4.1%	865	$1.17M
FH Firstcash Holdings Inc	0.5%	Added 4.2%	5,246	$1.11M
DE Dimensional ETF Trust	0.5%	Trimmed 6.8%	24,690	$1.02M
Stride Inc	0.5%	Added 3.2%	12,837	$1M
Alphabet Inc	0.5%	Added 2.0%	2,909	$1M
Carpenter Technology Corp	0.5%	Added 3.4%	2,549	$991K
Mckesson Corp	0.5%	Added 5.7%	1,133	$968K
Citigroup Inc	0.5%	Added 3.8%	7,320	$948K
Amkor Technology Inc	0.5%	Added 6.9%	17,818	$933K
Adobe Inc	0.4%	Added 8.4%	3,754	$901K
Api Group Corp	0.4%	Added 5.7%	22,415	$865K
DE Dimensional ETF Trust	0.4%	Added 5.9%	10,221	$849K
IT Ishares Tr	0.4%	Added 13%	1,105	$846K
Broadcom Inc	0.4%	Trimmed 0.3%	2,387	$838K
Arista Networks Inc	0.4%	Trimmed 2.6%	4,084	$832K
TS Taiwan Semiconductor Manufac	0.4%	Trimmed 1.4%	1,774	$809K
Eaton Corp PLC	0.4%	Trimmed 2.0%	1,773	$762K
Vse Corp	0.4%	Added 5.1%	4,584	$755K
VS Vanguard Scottsdale Fds	0.4%	Added 2.5%	9,544	$747K
Procter & Gamble Co	0.4%	Trimmed 1.1%	5,142	$747K
SS Schwab Strategic Tr	0.4%	Trimmed 20%	29,981	$715K
AH Asml Hldg Nv	0.3%	Trimmed 2.0%	387	$702K
DE Dimensional ETF Trust	0.3%	Trimmed 36%	14,766	$680K
Costco Wholesale Corporation	0.3%	Trimmed 1.2%	745	$679K
Cencora Inc	0.3%	Trimmed 0.8%	2,240	$673K
DE Dimensional ETF Trust	0.3%	Added 13%	14,817	$628K
Colgate Palmolive Co	0.3%	Trimmed 1.3%	7,282	$621K
Ecolab Inc	0.3%	Trimmed 1.7%	2,254	$619K
Walmart Inc	0.3%	Trimmed 0.9%	5,806	$603K
Mastercard Incorporated	0.3%	Trimmed 0.7%	1,087	$600K
WM Waste Mgmt Inc Del	0.3%	Trimmed 1.3%	2,924	$596K

Showing top 60 of 117 positions.

Timeline of changes

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 3 quarters.

Q3 2026

quarter ended September 30, 2026 · filed October 14, 2026

Company	Action	Shares changed	Value of change	% of portfolio
DE Dimensional ETF Trust	Exited	−267,655	−$11.9M	—
DE Dimensional ETF Trust	Exited	−111,492	−$9.14M	—
DE Dimensional ETF Trust	Exited	−116,706	−$4.87M	—
DE Dimensional ETF Trust	Added	+50,234	+$2.33M	4.6%
FT First Tr Exchange-traded Fd	Trimmed	−38,097	−$2.27M	32.7%
DE Dimensional ETF Trust	Exited	−32,752	−$1.27M	—
DE Dimensional ETF Trust	Exited	−11,378	−$795K	—
IU Ishares U S ETF Tr	Trimmed	−13,256	−$658K	0.2%
IT Ishares Tr	Trimmed	−5,821	−$609K	0.2%
VI Vanguard Index Fds	Added	+1,432	+$536K	1.3%

Showing the 10 largest of 112 changes.

Q2 2026

quarter ended June 30, 2026 · filed July 15, 2026

Company	Action	Shares changed	Value of change	% of portfolio
IT Ishares Tr	Added	+44,377	+$4.9M	5.0%
FT First Tr Exchange-traded Fd	Added	+34,133	+$2.05M	29.9%
VC Vanguard Charlotte Fds	Added	+39,903	+$1.93M	4.0%
DE Dimensional ETF Trust	Added	+30,805	+$1.47M	3.1%
Nvidia Corporation	Added	+7,131	+$1.43M	1.5%
DE Dimensional ETF Trust	Added	+36,161	+$1.35M	3.4%
Broadcom Inc	New	+2,395	+$905K	0.4%
IT Ishares Tr	Trimmed	−3,724	−$846K	0.1%
DE Dimensional ETF Trust	Added	+18,928	+$840K	5.2%
DE Dimensional ETF Trust	New	+10,199	+$839K	0.4%

Showing the 10 largest of 138 changes.

Q1 2026

quarter ended March 31, 2026 · filed April 16, 2026

Company	Action	Shares changed	Value of change	% of portfolio
FT First Tr Exchange-traded Fd	Added	+58,263	+$3.5M	32.2%
Carpenter Technology Corp	New	+2,458	+$969K	0.5%
FH Firstcash Holdings Inc	New	+5,014	+$943K	0.5%
MP Monolithic Pwr Sys Inc	New	+825	+$902K	0.4%
Mckesson Corp	New	+1,021	+$885K	0.4%
Api Group Corp	New	+20,511	+$831K	0.4%
Citigroup Inc	New	+7,176	+$814K	0.4%
Coherent Corp	Exited	−4,351	−$803K	—
Stride Inc	Added	+9,021	+$795K	0.5%
CT Credo Technology Group Holdi	Exited	−5,383	−$775K	—

Showing the 10 largest of 140 changes.

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