Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (52 quarters reported)
$335M in Q4 2013 → $1.59B now. Hover for any quarter.
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 |
|---|---|---|---|---|
| IQ Invesco Qqq Tr | 7.1% | Added 2.7% | 153,329 | $113M |
| VW Vanguard World Fd | 6.3% | Trimmed 5.9% | 799,230 | $100M |
| SS State Str SPDR S&P 500 ETF T | 6.3% | Added 2.8% | 131,066 | $100M |
| VW Vanguard World Fd | 6.2% | Trimmed 6.3% | 575,234 | $99M |
| VW Vanguard World Fd | 5.8% | Trimmed 5.9% | 292,093 | $92.3M |
| VW Vanguard World Fd | 5.4% | Trimmed 5.2% | 266,223 | $85.3M |
| VW Vanguard World Fd | 5.2% | Trimmed 4.2% | 378,076 | $82.5M |
| VW Vanguard World Fd | 5.1% | Added 30% | 620,761 | $80.8M |
| VW Vanguard World Fd | 4.9% | Trimmed 4.0% | 354,832 | $77.4M |
| VI Vanguard Index Fds | 4.9% | Trimmed 3.9% | 861,106 | $77.2M |
| VW Vanguard World Fd | 4.0% | Trimmed 28% | 332,336 | $63.3M |
| VW Vanguard World Fd | 3.6% | Trimmed 2.8% | 155,928 | $56.9M |
| VW Vanguard World Fd | 3.5% | Trimmed 30% | 321,777 | $55M |
| VM Vanguard Malvern Fds | 3.0% | Added 35% | 958,351 | $47.2M |
| SS SPDR Series Trust | 2.2% | Added 51% | 1,115,547 | $34.4M |
| VS Vanguard Scottsdale Fds | 1.9% | Added 77% | 530,866 | $30.6M |
| VS Vanguard Scottsdale Fds | 1.9% | Added 78% | 395,367 | $30.5M |
| NL Northern Lts Fd Tr Ii | 1.9% | Unchanged | 975,994 | $29.8M |
| NL Northern Lts Fd Tr Ii | 1.6% | New | 1,009,137 | $25.7M |
| SS SPDR Series Trust | 1.5% | Trimmed 0.4% | 270,249 | $24.3M |
| SS SPDR Series Trust | 1.5% | Trimmed 0.4% | 262,626 | $24.2M |
| VP Victory Portfolios Ii | 1.3% | Trimmed 12% | 412,730 | $21.1M |
| VB Vanguard Bd Index Fds | 1.3% | Trimmed 7.3% | 270,391 | $20.7M |
| VB Vanguard Bd Index Fds | 1.2% | Trimmed 50% | 259,480 | $18.9M |
| VB Vanguard Bd Index Fds | 1.1% | Trimmed 50% | 288,958 | $18.1M |
| TR T Rowe Price Exchange-traded | 1.0% | Trimmed 1.5% | 409,294 | $16.7M |
| PE Pimco ETF Tr | 1.0% | Added 3.8% | 643,463 | $16.3M |
| SS SPDR Series Trust | 1.0% | Trimmed 2.4% | 175,288 | $16.1M |
| SE Simplify Exchange Traded Fun | 1.0% | Added 0.7% | 532,325 | $15.4M |
| IE Invesco Exchange Traded Fd T | 0.9% | Added 77% | 72,001 | $15M |
| ES Ea Series Trust | 0.8% | Trimmed 5.1% | 292,511 | $12.5M |
| SG SPDR Gold Tr | 0.5% | Unchanged | 22,602 | $8.61M |
| VP Victory Portfolios Ii | 0.5% | New | 254,755 | $8.51M |
| WT Wisdomtree Tr | 0.5% | Trimmed 2.5% | 295,259 | $7.96M |
| SS SPDR Series Trust | 0.5% | New | 290,035 | $7.27M |
| AO Angel Oak Funds Trust | 0.5% | Trimmed 2.9% | 356,711 | $7.18M |
| IG Im Global Partner Funds | 0.3% | Added 1.1% | 168,585 | $5.48M |
| IA Invesco Actvely Mngd Etc Fd | 0.3% | Trimmed 5.4% | 207,965 | $4.01M |
| IE Invesco Exch Traded Fd Tr Ii | 0.2% | Trimmed 0.6% | 23,881 | $3.62M |
| IE Invesco Exchange Traded Fd T | 0.2% | Added 16469% | 39,434 | $3.22M |
| SS Select Sector SPDR Tr | 0.2% | Trimmed 3.6% | 16,050 | $3.14M |
| CG Capital Grp Fixed Incm ETF T | 0.2% | Unchanged | 120,000 | $3.11M |
| PE Pimco ETF Tr | 0.2% | Unchanged | 60,000 | $2.98M |
| SS Select Sector SPDR Tr | 0.2% | Added 12% | 46,693 | $2.49M |
| SS SPDR Series Trust | 0.2% | Trimmed 8.7% | 24,855 | $2.47M |
| SS Select Sector SPDR Tr | 0.1% | Added 19% | 18,948 | $2.06M |
| SS Select Sector SPDR Tr | 0.1% | New | 11,326 | $1.89M |
| KT Kraneshares Trust | 0.1% | Trimmed 3.5% | 53,548 | $1.66M |
| IE Invesco Exch Traded Fd Tr Ii | 0.1% | New | 5,310 | $1.62M |
| FT First Tr Exchange-traded Fd | 0.1% | Trimmed 2.4% | 29,310 | $1.53M |
| SS Select Sector SPDR Tr | 0.1% | Added 31% | 20,521 | $1.26M |
| RU Reaves Util Income Fd | 0.1% | Unchanged | 34,500 | $1.19M |
| C& Cohen & Steers Real Estate O | 0.1% | Unchanged | 83,500 | $1.16M |
| C& Cohen & Steers Infrastructur | 0.1% | Unchanged | 45,000 | $1.11M |
| C& Cohen & Steers Quality Incom | 0.1% | Unchanged | 93,000 | $1.01M |
| SS Select Sector SPDR Tr | 0.1% | Added 41% | 17,486 | $852K |
| Apple Inc | 0.0% | Added 0.1% | 1,456 | $485K |
| PT Proshares Tr | 0.0% | Unchanged | 11,250 | $392K |
| BE Bondbloxx ETF Trust | 0.0% | Added 158% | 7,341 | $328K |
| BE Bondbloxx ETF Trust | 0.0% | Added 43% | 7,121 | $302K |
Showing top 60 of 141 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NL Northern Lts Fd Tr Ii | Exited | −1,003,237 | −$27.7M | — |
| NL Northern Lts Fd Tr Ii | New | +1,009,137 | +$25.7M | 1.6% |
| VW Vanguard World Fd | Trimmed | −131,866 | −$25.1M | 4.0% |
| VW Vanguard World Fd | Trimmed | −135,339 | −$23.1M | 3.5% |
| VB Vanguard Bd Index Fds | Trimmed | −261,986 | −$19.1M | 1.2% |
| PE Pimco ETF Tr | Exited | −194,710 | −$18.6M | — |
| VW Vanguard World Fd | Added | +142,726 | +$18.6M | 5.1% |
| VB Vanguard Bd Index Fds | Trimmed | −290,113 | −$18.2M | 1.1% |
| VS Vanguard Scottsdale Fds | Added | +173,598 | +$13.4M | 1.9% |
| VS Vanguard Scottsdale Fds | Added | +230,460 | +$13.3M | 1.9% |
Showing the 10 largest of 105 changes.
quarter ended June 30, 2026 · filed August 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VW Vanguard World Fd | Added | +748,834 | +$89.5M | 6.1% |
| SS SPDR Series Trust | Trimmed | −1,161,750 | −$35.8M | 1.4% |
| IQ Invesco Qqq Tr | Added | +47,436 | +$34.9M | 6.7% |
| VM Vanguard Malvern Fds | Trimmed | −620,637 | −$31.2M | 2.2% |
| VS Vanguard Scottsdale Fds | Trimmed | −463,384 | −$27M | 1.1% |
| VS Vanguard Scottsdale Fds | Trimmed | −333,348 | −$26.3M | 1.1% |
| VW Vanguard World Fd | Trimmed | −344,345 | −$22.4M | — |
| VW Vanguard World Fd | Trimmed | −106,521 | −$16M | 5.6% |
| VW Vanguard World Fd | Trimmed | −44,371 | −$16M | 6.1% |
| VW Vanguard World Fd | Trimmed | −59,487 | −$13.6M | 5.5% |
Showing the 10 largest of 92 changes.
quarter ended March 31, 2026 · filed May 08, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IQ Invesco Qqq Tr | Trimmed | −116,397 | −$67.2M | 3.3% |
| SS SPDR Series Trust | Added | +1,501,336 | +$46.2M | 3.3% |
| VS Vanguard Scottsdale Fds | New | +763,790 | +$44.7M | 2.5% |
| VS Vanguard Scottsdale Fds | New | +555,117 | +$44M | 2.5% |
| VW Vanguard World Fd | Trimmed | −191,367 | −$34.4M | 4.1% |
| VM Vanguard Malvern Fds | Added | +629,709 | +$31.5M | 3.7% |
| VW Vanguard World Fd | Trimmed | −44,912 | −$31.3M | 4.0% |
| VW Vanguard World Fd | Trimmed | −238,279 | −$28.8M | 3.8% |
| VW Vanguard World Fd | Trimmed | −79,642 | −$28.6M | 3.8% |
| VI Vanguard Index Fds | Added | +242,704 | +$21.5M | 5.1% |
Showing the 10 largest of 119 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VB Vanguard Bd Index Fds | Trimmed | −648,615 | −$51.1M | 1.6% |
| VW Vanguard World Fd | Added | +507,316 | +$33M | 1.8% |
| VW Vanguard World Fd | Added | +64,997 | +$18.7M | 5.8% |
| VW Vanguard World Fd | Trimmed | −21,600 | −$16.3M | 5.9% |
| VW Vanguard World Fd | Trimmed | −82,568 | −$16M | 6.2% |
| VB Vanguard Bd Index Fds | Trimmed | −203,104 | −$15.8M | 3.4% |
| VB Vanguard Bd Index Fds | Trimmed | −223,626 | −$15.5M | 3.3% |
| IE Invesco Exchange Traded Fd T | Trimmed | −223,376 | −$15M | — |
| VW Vanguard World Fd | Trimmed | −75,190 | −$13.9M | 5.6% |
| VW Vanguard World Fd | Trimmed | −43,669 | −$13M | 5.7% |
Showing the 10 largest of 116 changes.
quarter ended September 30, 2025 · filed October 16, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VB Vanguard Bd Index Fds | Trimmed | −1,218,357 | −$96.1M | 3.9% |
| VB Vanguard Bd Index Fds | Added | +509,835 | +$36.1M | 3.8% |
| SP SPDR Portfolio S&P 500 ETF | New | +390,693 | +$30.6M | 1.5% |
| SP SPDR Portfolio S&P 1500 Compos | New | +373,576 | +$30.1M | 1.4% |
| VB Vanguard Bd Index Fds | Trimmed | −331,130 | −$25.9M | 3.8% |
| JD Janus Detroit Street Trust Jan | New | +504,210 | +$25.6M | 1.2% |
| PE Pimco Enhanced Low Duration Ac | New | +255,336 | +$24.5M | 1.2% |
| VF Victoryshares Free Cash Flow E | New | +652,857 | +$24.5M | 1.2% |
| PM Pimco Multisector Bond Active | New | +807,332 | +$21.7M | 1.0% |
| VW Vanguard World Fd | Trimmed | −26,382 | −$19.7M | 6.0% |
Showing the 10 largest of 113 changes.
quarter ended June 30, 2025 · filed September 04, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VB Vanguard Bd Index Fds | Trimmed | −4,912,947 | −$387M | 9.1% |
| VB Vanguard Bd Index Fds | Trimmed | −4,677,402 | −$362M | 5.4% |
| VB Vanguard Bd Index Fds | Trimmed | −4,749,724 | −$330M | 2.2% |
| VW Vanguard World Fd | Added | +673,259 | +$85.7M | 6.7% |
| VW Vanguard World Fd | Added | +500,292 | +$85.6M | 6.7% |
| VW Vanguard World Fd | Added | +127,702 | +$84.7M | 6.6% |
| VW Vanguard World Fd | Added | +710,708 | +$84.7M | 4.6% |
| VW Vanguard World Fd | Added | +301,959 | +$84.6M | 6.6% |
| VW Vanguard World Fd | Added | +339,847 | +$84.4M | 4.6% |
| VW Vanguard World Fd | Added | +432,957 | +$84.4M | 4.6% |
Showing the 10 largest of 116 changes.
quarter ended March 31, 2025 · filed May 21, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VB Vanguard Bd Index Fds | Added | +5,376,301 | +$420M | 27.9% |
| VB Vanguard Bd Index Fds | Added | +5,191,374 | +$394M | 22.7% |
| VB Vanguard Bd Index Fds | Added | +5,336,937 | +$359M | 17.9% |
| SS SPDR Ser Tr | Trimmed | −1,604,049 | −$147M | 1.6% |
| VI Vanguard Index Fds | Trimmed | −1,603,483 | −$144M | 0.3% |
| VW Vanguard World Fd | Trimmed | −1,089,223 | −$135M | 2.1% |
| VW Vanguard World Fd | Trimmed | −836,588 | −$132M | 2.0% |
| VW Vanguard World Fd | Trimmed | −729,465 | −$130M | 2.4% |
| VW Vanguard World Fd | Trimmed | −471,354 | −$128M | 2.1% |
| VW Vanguard World Fd | Trimmed | −202,660 | −$124M | 2.0% |
Showing the 10 largest of 32 changes.
quarter ended December 31, 2024 · filed February 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VB Vanguard Bd Index Fds | Added | +1,578,387 | +$122M | 6.0% |
| VW Vanguard World Fd | Exited | −518,499 | −$41.3M | — |
| VW Vanguard World Fd | Trimmed | −214,364 | −$40.3M | 4.6% |
| VW Vanguard World Fd | Trimmed | −152,697 | −$38.7M | 4.5% |
| VB Vanguard Bd Index Fds | Trimmed | −544,095 | −$37.2M | 0.1% |
| VB Vanguard Bd Index Fds | Added | +273,374 | +$20.4M | 2.7% |
| VM Vanguard Malvern Fds | Added | +303,342 | +$14.7M | 2.4% |
| SS SPDR Ser Tr | Trimmed | −136,282 | −$12.5M | 7.8% |
| VW Vanguard World Fd | Trimmed | −76,059 | −$11.8M | 7.4% |
| VW Vanguard World Fd | Trimmed | −89,838 | −$10.6M | 7.3% |
Showing the 10 largest of 25 changes.
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