Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (28 quarters reported)
$206M in Q4 2018 → $1.81B 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 | 5.7% | Trimmed 1.2% | 1,178,400 | $103M |
| IT Ishares Tr | 4.6% | Added 0.5% | 1,282,890 | $83.7M |
| FC Fidelity Covington Trust | 4.3% | Trimmed 7.5% | 352,480 | $78.3M |
| I Ishares Inc | 4.1% | Trimmed 4.6% | 1,131,606 | $74.6M |
| VM Vanguard Mun Bd Fds | 4.0% | Added 7.2% | 1,438,751 | $72M |
| SS Select Sector SPDR Tr | 4.0% | Added 2.7% | 254,871 | $71.8M |
| AC American Centy ETF Tr | 3.8% | Trimmed 4.6% | 631,210 | $68.6M |
| IT Ishares Tr | 3.5% | Trimmed 1.0% | 537,086 | $63.8M |
| VT Vanguard Tax-managed Fds | 2.6% | Trimmed 5.8% | 775,289 | $46.5M |
| IT Ishares Tr | 2.5% | Added 5.0% | 450,860 | $45.2M |
| VW Vanguard World Fd | 2.5% | Trimmed 9.0% | 59,747 | $44.6M |
| SS Schwab Strategic Tr | 2.4% | Trimmed 4.9% | 1,646,759 | $44.4M |
| SS Select Sector SPDR Tr | 2.4% | Added 0.5% | 181,891 | $43.6M |
| VI Vanguard Intl Equity Index F | 2.4% | Trimmed 3.1% | 301,868 | $43M |
| SS Select Sector SPDR Tr | 2.3% | Trimmed 0.4% | 778,041 | $41.9M |
| IT Ishares Tr | 2.2% | Added 0.7% | 367,109 | $39.1M |
| SS Select Sector SPDR Tr | 1.9% | Added 0.1% | 227,108 | $35M |
| VI Vanguard Intl Equity Index F | 1.9% | Trimmed 2.9% | 634,552 | $34.4M |
| IT Ishares Tr | 1.9% | Added 2.1% | 334,504 | $33.7M |
| VS Vanguard Scottsdale Fds | 1.7% | Trimmed 1.2% | 361,676 | $30.4M |
| VI Vanguard Index Fds | 1.6% | Trimmed 8.7% | 100,714 | $29.6M |
| SS Select Sector SPDR Tr | 1.5% | Added 2.2% | 225,288 | $26.7M |
| GX Global X Fds | 1.4% | Trimmed 4.1% | 1,338,750 | $26M |
| VC Vanguard Charlotte Fds | 1.4% | Added 0.9% | 521,066 | $25.8M |
| SS Select Sector SPDR Tr | 1.4% | Trimmed 6.1% | 181,119 | $25.2M |
| VI Vanguard Index Fds | 1.4% | Trimmed 2.8% | 96,339 | $24.5M |
| VW Vanguard Whitehall Fds | 1.2% | Trimmed 3.4% | 327,524 | $21.9M |
| SS SPDR Series Trust | 1.2% | Trimmed 14% | 230,630 | $21.2M |
| IT Ishares Tr | 1.1% | Trimmed 6.0% | 261,386 | $20.1M |
| VW Vanguard World Fd | 1.1% | Trimmed 11% | 102,856 | $19.3M |
| Apple Inc | 1.0% | Trimmed 1.3% | 74,758 | $19M |
| FC Fidelity Covington Trust | 1.0% | Trimmed 3.4% | 236,190 | $18M |
| VW Vanguard World Fd | 1.0% | Trimmed 14% | 44,102 | $17.5M |
| VW Vanguard World Fd | 0.9% | Trimmed 13% | 127,661 | $16.8M |
| VW Vanguard World Fd | 0.9% | Added 0.7% | 63,910 | $16.6M |
| SS Select Sector SPDR Tr | 0.9% | Trimmed 0.6% | 209,024 | $16.4M |
| FC Fidelity Covington Trust | 0.9% | Trimmed 3.5% | 226,641 | $16.1M |
| VS Vanguard Scottsdale Fds | 0.9% | Trimmed 9.5% | 274,853 | $15.6M |
| SS Select Sector SPDR Tr | 0.8% | Trimmed 3.6% | 164,539 | $14.7M |
| FC Fidelity Covington Trust | 0.8% | Trimmed 6.7% | 216,343 | $14.5M |
| SS Select Sector SPDR Tr | 0.7% | Trimmed 4.4% | 146,167 | $12.7M |
| FC Fidelity Covington Trust | 0.6% | Trimmed 8.9% | 133,923 | $11M |
| VW Vanguard World Fd | 0.6% | Trimmed 5.2% | 48,029 | $10.3M |
| SS Select Sector SPDR Tr | 0.5% | Trimmed 2.7% | 217,405 | $9.16M |
| IT Ishares Tr | 0.5% | Trimmed 3.9% | 92,219 | $8.9M |
| IT Ishares Tr | 0.5% | Trimmed 13% | 93,226 | $8.87M |
| IT Ishares Tr | 0.5% | Trimmed 17% | 270,031 | $8.54M |
| VE Vaneck ETF Trust | 0.5% | Added 40% | 161,999 | $8.25M |
| Amazon Com Inc | 0.4% | Trimmed 0.8% | 36,985 | $8.12M |
| SS Select Sector SPDR Tr | 0.4% | Trimmed 2.7% | 89,660 | $8.04M |
| IT Ishares Tr | 0.4% | Trimmed 5.9% | 87,944 | $7.86M |
| IT Ishares Tr | 0.4% | Trimmed 3.2% | 60,763 | $6.76M |
| IT Ishares Tr | 0.4% | Trimmed 11% | 27,676 | $6.7M |
| AR Alliance Resource Partners L | 0.4% | Unchanged | 252,193 | $6.38M |
| IT Ishares Tr | 0.3% | Trimmed 6.5% | 64,789 | $6.05M |
| SS SPDR S&P 500 ETF Tr | 0.3% | Unchanged | 8,248 | $5.49M |
| VW Vanguard World Fd | 0.3% | Trimmed 7.8% | 17,201 | $5.1M |
| IT Ishares Tr | 0.3% | Added 0.4% | 7,535 | $5.04M |
| VI Vanguard Index Fds | 0.3% | Added 27% | 7,623 | $4.67M |
| Visa Inc | 0.2% | Trimmed 9.2% | 12,131 | $4.14M |
Showing top 60 of 308 positions.
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 |
|---|---|---|---|---|
| FC Fidelity Covington Trust | Trimmed | −28,432 | −$6.32M | 4.3% |
| VM Vanguard Mun Bd Fds | Added | +97,037 | +$4.86M | 4.0% |
| VW Vanguard World Fd | Trimmed | −5,905 | −$4.41M | 2.5% |
| I Ishares Inc | Trimmed | −54,963 | −$3.62M | 4.1% |
| SS SPDR Series Trust | Trimmed | −37,393 | −$3.43M | 1.2% |
| AC American Centy ETF Tr | Trimmed | −30,731 | −$3.34M | 3.8% |
| IQ Invesco Qqq Tr | New | +5,423 | +$3.26M | 0.2% |
| IQ Invesco Qqq Tr | Exited | −5,413 | −$2.99M | — |
| VW Vanguard World Fd | Trimmed | −7,356 | −$2.91M | 1.0% |
| VT Vanguard Tax-managed Fds | Trimmed | −48,053 | −$2.88M | 2.6% |
Showing the 10 largest of 308 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VI Vanguard Index Fds | Added | +27,282 | +$6.47M | 1.4% |
| VI Vanguard Index Fds | Added | +22,111 | +$6.19M | 1.8% |
| VI Vanguard Intl Equity Index F | Added | +115,946 | +$5.73M | 1.9% |
| IT Ishares Tr | Added | +51,167 | +$5.35M | 2.2% |
| VT Vanguard Tax-managed Fds | Added | +83,034 | +$4.73M | 2.7% |
| SS SPDR Series Trust | Added | +49,345 | +$4.53M | 1.4% |
| IT Ishares Tr | Added | +61,717 | +$4.49M | 1.2% |
| VW Vanguard World Fd | Added | +6,600 | +$4.38M | 2.5% |
| SS Select Sector SPDR Tr | Added | +78,583 | +$4.12M | 2.4% |
| VM Vanguard Mun Bd Fds | Trimmed | −83,239 | −$4.08M | 3.8% |
Showing the 10 largest of 231 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FC Fidelity Covington Trust | Trimmed | −27,298 | −$4.4M | 3.8% |
| SS SPDR S&P 500 ETF Tr | Added | +6,325 | +$3.54M | 0.3% |
| VM Vanguard Mun Bd Fds | Added | +68,149 | +$3.38M | 4.6% |
| VW Vanguard World Fd | Added | +4,082 | +$2.21M | 2.1% |
| AC American Centy ETF Tr | Trimmed | −21,984 | −$2.03M | 4.0% |
| I Ishares Inc | Added | +36,827 | +$1.99M | 4.4% |
| IQ Invesco Qqq Tr | Added | +4,170 | +$1.96M | 0.2% |
| SS Select Sector SPDR Tr | Trimmed | −9,927 | −$1.45M | 1.8% |
| VI Vanguard Index Fds | Added | +6,398 | +$1.42M | 1.0% |
| FC Fidelity Covington Trust | Trimmed | −19,695 | −$1.35M | 1.0% |
Showing the 10 largest of 153 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Schwab Strategic Tr | Added | +906,252 | +$23.4M | 2.6% |
| IT Ishares Tr | Added | +110,706 | +$10.7M | 2.5% |
| VS Vanguard Scottsdale Fds | Added | +91,750 | +$7.36M | 1.9% |
| VM Vanguard Mun Bd Fds | Added | +113,655 | +$5.7M | 4.3% |
| GX Global X Fds | Added | +287,175 | +$5.6M | 1.7% |
| IT Ishares Tr | Added | +44,189 | +$4.43M | 1.9% |
| VT Vanguard Tax-managed Fds | Added | +68,586 | +$3.28M | 2.2% |
| FC Fidelity Covington Trust | Trimmed | −12,017 | −$2.22M | 4.6% |
| Arista Networks Inc | New | +16,004 | +$1.77M | 0.1% |
| IT Ishares Tr | Added | +22,938 | +$1.61M | 5.5% |
Showing the 10 largest of 143 changes.
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Apple Inc | Trimmed | −25,329 | −$5.9M | 1.0% |
| VM Vanguard Mun Bd Fds | Added | +89,647 | +$4.58M | 4.1% |
| IT Ishares Tr | Added | +32,536 | +$3.28M | 1.6% |
| SS Select Sector SPDR Tr | Added | +12,153 | +$2.74M | 3.6% |
| SS Schwab Strategic Tr | Added | +41,463 | +$2.22M | 2.4% |
| VS Vanguard Scottsdale Fds | Added | +23,374 | +$1.96M | 1.5% |
| IT Ishares Tr | Trimmed | −13,569 | −$1.53M | 0.3% |
| Coca Cola Co | Trimmed | −21,249 | −$1.53M | — |
| BA Bank America Corp | Exited | −35,489 | −$1.41M | — |
| IT Ishares Tr | Added | +17,073 | +$1.33M | 6.1% |
Showing the 10 largest of 144 changes.
quarter ended June 30, 2024 · filed August 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Select Sector SPDR Tr | Added | +31,919 | +$7.22M | 3.6% |
| IT Ishares Tr | Added | +90,682 | +$6.59M | 5.8% |
| VM Vanguard Mun Bd Fds | Added | +91,453 | +$4.58M | 3.9% |
| IT Ishares Tr | Added | +41,258 | +$4.4M | 4.0% |
| IT Ishares Tr | Added | +69,497 | +$4.07M | 5.1% |
| I Ishares Inc | Added | +65,379 | +$3.5M | 4.2% |
| IT Ishares Tr | Added | +26,436 | +$2.66M | 1.5% |
| VI Vanguard Intl Equity Index F | Added | +18,858 | +$2.22M | 2.5% |
| SS Select Sector SPDR Tr | Added | +53,025 | +$2.18M | 1.9% |
| SS Schwab Strategic Tr | Added | +38,984 | +$2.03M | 2.3% |
Showing the 10 largest of 147 changes.
quarter ended March 31, 2024 · filed May 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +993,802 | +$60.4M | 5.2% |
| VM Vanguard Mun Bd Fds | Added | +161,413 | +$8.17M | 3.7% |
| IT Ishares Tr | Added | +77,701 | +$5.77M | 5.7% |
| SS Select Sector SPDR Tr | Added | +24,866 | +$5.18M | 2.9% |
| I Ishares Inc | Added | +79,715 | +$4.11M | 4.0% |
| IT Ishares Tr | Added | +40,585 | +$4.09M | 1.4% |
| SS Schwab Strategic Tr | Added | +62,706 | +$3.27M | 2.3% |
| IT Ishares Tr | Added | +23,395 | +$2.59M | 4.0% |
| IT Ishares Tr | Added | +21,809 | +$2.14M | 1.9% |
| FC Fidelity Covington Trust | Trimmed | −12,964 | −$2.02M | 4.6% |
Showing the 10 largest of 144 changes.
quarter ended December 31, 2023 · filed February 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Select Sector SPDR Tr | Added | +155,866 | +$30M | 2.6% |
| FC Fidelity Covington Trust | Trimmed | −199,874 | −$28.7M | 4.7% |
| SS Schwab Strategic Tr | Added | +547,880 | +$28.6M | 2.2% |
| VM Vanguard Mun Bd Fds | Added | +518,472 | +$26.5M | 3.5% |
| IT Ishares Tr | Trimmed | −215,037 | −$23.1M | 0.6% |
| SS Select Sector SPDR Tr | Added | +141,745 | +$19.3M | 2.0% |
| FC Fidelity Covington Trust | Trimmed | −278,464 | −$18M | 1.4% |
| SS Select Sector SPDR Tr | Added | +450,565 | +$16.9M | 1.7% |
| IT Ishares Tr | New | +155,678 | +$15.6M | 1.2% |
| IT Ishares Tr | Trimmed | −124,711 | −$13.5M | 2.6% |
Showing the 10 largest of 144 changes.
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