Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (38 quarters reported)
$2.84B in Q2 2013 → $104M now. Hover for any quarter.
As reported for the quarter ended September 30, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| IT Ishares Tr | 15.8% | Added 43% | 147,004 | $16.4M |
| IT Ishares Tr | 12.8% | Trimmed 0.1% | 250,900 | $13.3M |
| IT Ishares Tr | 10.7% | Added 34% | 100,053 | $11.1M |
| IT Ishares Tr | 10.0% | Added 366% | 108,874 | $10.4M |
| VS Vanguard Scottsdale Fds | 9.8% | Trimmed 42% | 172,200 | $10.1M |
| VI Vanguard Index Fds | 8.6% | Added 53% | 98,047 | $8.93M |
| IT Ishares Tr | 6.8% | New | 137,300 | $7.04M |
| SS Select Sector SPDR Tr | 6.7% | Added 199% | 24,800 | $6.97M |
| SS Select Sector SPDR Tr | 4.5% | Trimmed 15% | 39,100 | $4.63M |
| SS Select Sector SPDR Tr | 2.2% | Added 303% | 25,400 | $2.28M |
| SS Select Sector SPDR Tr | 2.2% | Trimmed 7.1% | 41,800 | $2.26M |
| IT Ishares Tr | 1.4% | Trimmed 70% | 17,700 | $1.44M |
| I Ishares Inc | 1.1% | Trimmed 3.5% | 19,500 | $1.13M |
| I Ishares Inc | 1.1% | Trimmed 8.0% | 22,900 | $1.13M |
| VS Vanguard Scottsdale Fds | 1.0% | New | 17,600 | $1.06M |
| I Ishares Inc | 1.0% | Unchanged | 25,100 | $1.04M |
| I Ishares Inc | 1.0% | New | 48,300 | $1.04M |
| I Ishares Inc | 1.0% | New | 19,900 | $1.03M |
| IT Ishares Tr | 1.0% | New | 9,300 | $1.01M |
| SS Select Sector SPDR Tr | 0.8% | Trimmed 11% | 10,700 | $837K |
| IT Ishares Tr | 0.4% | New | 4,900 | $466K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +85,526 | +$8.16M | 10.0% |
| VS Vanguard Scottsdale Fds | Trimmed | −124,600 | −$7.33M | 9.8% |
| IT Ishares Tr | New | +137,300 | +$7.04M | 6.8% |
| IT Ishares Tr | Added | +44,362 | +$4.95M | 15.8% |
| SS Select Sector SPDR Tr | Added | +16,500 | +$4.64M | 6.7% |
| SS Select Sector SPDR Tr | Exited | −18,200 | −$3.97M | — |
| IT Ishares Tr | Trimmed | −41,300 | −$3.35M | 1.4% |
| VI Vanguard Index Fds | Added | +33,811 | +$3.08M | 8.6% |
| IT Ishares Tr | Added | +25,507 | +$2.84M | 10.7% |
| SS Select Sector SPDR Tr | Added | +19,100 | +$1.71M | 2.2% |
Showing the 10 largest of 25 changes.
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −63,973 | −$5.89M | 2.5% |
| IT Ishares Tr | Exited | −98,300 | −$4.91M | — |
| IT Ishares Tr | New | +59,000 | +$4.76M | 5.6% |
| SS Select Sector SPDR Tr | Trimmed | −26,400 | −$2.24M | 0.6% |
| SS Select Sector SPDR Tr | Added | +7,100 | +$1.55M | 4.6% |
| IT Ishares Tr | Trimmed | −13,482 | −$1.47M | 13.1% |
| IT Ishares Tr | Added | +10,452 | +$1.15M | 9.6% |
| I Ishares Inc | New | +40,800 | +$1.06M | 1.2% |
| SS Select Sector SPDR Tr | New | +12,000 | +$969K | 1.1% |
| I Ishares Inc | Exited | −23,100 | −$939K | — |
Showing the 10 largest of 21 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VS Vanguard Scottsdale Fds | Added | +122,500 | +$7.19M | 19.1% |
| SS Select Sector SPDR Tr | New | +32,700 | +$3.04M | 3.4% |
| VI Vanguard Index Fds | Trimmed | −31,693 | −$2.84M | 6.3% |
| SS Select Sector SPDR Tr | Trimmed | −10,500 | −$2.07M | 2.5% |
| IT Ishares Tr | Trimmed | −39,200 | −$1.96M | 5.5% |
| IT Ishares Tr | Trimmed | −20,953 | −$1.89M | 8.9% |
| SS Select Sector SPDR Tr | New | +12,900 | +$1.88M | 2.1% |
| IT Ishares Tr | Exited | −18,000 | −$1.41M | — |
| I Ishares Inc | Exited | −29,600 | −$1.07M | — |
| I Ishares Inc | Exited | −28,900 | −$1.04M | — |
Showing the 10 largest of 28 changes.
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VS Vanguard Scottsdale Fds | Trimmed | −124,400 | −$7.22M | 10.7% |
| IT Ishares Tr | Added | +35,181 | +$3.75M | 13.0% |
| IT Ishares Tr | Added | +30,082 | +$3.2M | 7.9% |
| IT Ishares Tr | Added | +62,500 | +$3.12M | 7.5% |
| SS Select Sector SPDR Tr | Exited | −34,300 | −$3M | — |
| SS Select Sector SPDR Tr | Added | +10,500 | +$2.41M | 5.4% |
| IT Ishares Tr | Added | +26,136 | +$2.33M | 10.6% |
| VI Vanguard Index Fds | Added | +24,648 | +$2.19M | 9.2% |
| SS Select Sector SPDR Tr | Exited | −12,900 | −$1.98M | — |
| IT Ishares Tr | New | +18,000 | +$1.41M | 1.6% |
Showing the 10 largest of 26 changes.
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −27,910 | −$3.09M | 4.9% |
| IT Ishares Tr | Added | +56,500 | +$2.93M | 4.6% |
| VC Vanguard Charlotte Fds | Trimmed | −47,500 | −$2.39M | 1.5% |
| SS Select Sector SPDR Tr | New | +12,900 | +$1.98M | 2.3% |
| IT Ishares Tr | Trimmed | −14,423 | −$1.63M | 10.1% |
| I Ishares Inc | New | +35,100 | +$1.19M | 1.4% |
| I Ishares Inc | New | +23,000 | +$1.17M | 1.4% |
| I Ishares Inc | New | +29,500 | +$1.16M | 1.4% |
| SS Select Sector SPDR Tr | Trimmed | −5,400 | −$1.08M | 2.6% |
| I Ishares Inc | Exited | −64,700 | −$988K | — |
Showing the 10 largest of 24 changes.
quarter ended June 30, 2024 · filed August 08, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +25,000 | +$2.7M | 11.5% |
| SS Select Sector SPDR Tr | New | +7,900 | +$1.79M | 2.1% |
| SS Select Sector SPDR Tr | Trimmed | −20,700 | −$1.59M | 1.1% |
| I Ishares Inc | Exited | −31,500 | −$1.56M | — |
| I Ishares Inc | Exited | −45,000 | −$1.43M | — |
| VC Vanguard Charlotte Fds | Trimmed | −27,700 | −$1.35M | 4.2% |
| VI Vanguard Index Fds | Added | +14,031 | +$1.18M | 6.7% |
| SS Select Sector SPDR Tr | Added | +13,700 | +$1.18M | 4.6% |
| SS Select Sector SPDR Tr | Added | +12,200 | +$1.11M | 4.2% |
| I Ishares Inc | New | +64,700 | +$988K | 1.2% |
Showing the 10 largest of 22 changes.
quarter ended March 31, 2024 · filed May 09, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Janus Henderson Group PLC | Exited | −30,668,922 | −$997M | — |
| VS Vanguard Scottsdale Fds | New | +287,300 | +$16.7M | 20.5% |
| IT Ishares Tr | New | +247,000 | +$12.7M | 15.5% |
| IT Ishares Tr | New | +83,374 | +$7.48M | 9.2% |
| IT Ishares Tr | New | +65,625 | +$7.15M | 8.8% |
| IT Ishares Tr | New | +60,518 | +$6.5M | 8.0% |
| VC Vanguard Charlotte Fds | New | +100,200 | +$4.93M | 6.0% |
| VI Vanguard Index Fds | New | +53,389 | +$4.62M | 5.7% |
| SS Select Sector SPDR Tr | New | +14,300 | +$2.63M | 3.2% |
| SS Select Sector SPDR Tr | New | +61,000 | +$2.57M | 3.2% |
Showing the 10 largest of 19 changes.
quarter ended December 31, 2020 · filed February 11, 2021
No position changes this quarter.
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