Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (8 quarters reported)
$265M in Q1 2024 → $8.25M now. Hover for any quarter.
As reported for the quarter ended December 31, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| ES Ea Series Trust | 19.6% | Trimmed 98% | 26,454 | $1.62M |
| MA Mfs Active Exchange Traded F | 9.8% | Trimmed 99% | 28,674 | $812K |
| JP J P Morgan Exchange Traded F | 7.9% | Trimmed 98% | 13,752 | $651K |
| TR T Rowe Price ETF Inc | 7.4% | Trimmed 98% | 15,909 | $608K |
| VS Vanguard Specialized Funds | 6.0% | Trimmed 98% | 2,263 | $497K |
| FT First Tr Exchange-traded Fd | 5.5% | Trimmed 98% | 26,464 | $450K |
| GS Goldman Sachs ETF Tr | 4.8% | Trimmed 98% | 7,498 | $396K |
| JP J P Morgan Exchange Traded F | 4.8% | Trimmed 98% | 8,111 | $395K |
| IE Invesco Exch Traded Fd Tr Ii | 4.6% | Trimmed 83% | 3,617 | $382K |
| PE Pgim ETF Tr | 4.1% | Trimmed 83% | 6,859 | $340K |
| FT First Tr Exchange-traded Fd | 4.1% | Trimmed 98% | 15,937 | $338K |
| JD Janus Detroit Str Tr | 4.1% | Trimmed 98% | 6,641 | $336K |
| SS SPDR S&P 500 ETF Tr | 3.8% | Trimmed 88% | 458 | $312K |
| BH Berkshire Hathaway Inc Del | 3.0% | Trimmed 68% | 500 | $251K |
| SS SPDR Series Trust | 2.8% | Trimmed 38% | 1,652 | $230K |
| IT Ishares Tr | 2.6% | Trimmed 49% | 2,667 | $215K |
| GS Goldman Sachs ETF Tr | 2.6% | Trimmed 98% | 2,834 | $214K |
| AM Applied Matls Inc | 2.5% | New | 800 | $206K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 7 quarters.
quarter ended December 31, 2025 · filed January 23, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| ES Ea Series Trust | Trimmed | −1,607,976 | −$98.2M | 19.6% |
| MA Mfs Active Exchange Traded F | Trimmed | −1,961,110 | −$55.5M | 9.8% |
| TR T Rowe Price ETF Inc | Trimmed | −1,016,207 | −$38.8M | 7.4% |
| JP J P Morgan Exchange Traded F | Trimmed | −618,081 | −$29.3M | 7.9% |
| FT First Tr Exchange-traded Fd | Trimmed | −1,517,138 | −$25.8M | 5.5% |
| VS Vanguard Specialized Funds | Trimmed | −98,123 | −$21.6M | 6.0% |
| GS Goldman Sachs ETF Tr | Trimmed | −397,546 | −$21M | 4.8% |
| FT First Tr Exchange-traded Fd | Trimmed | −919,975 | −$19.5M | 4.1% |
| JP J P Morgan Exchange Traded F | Trimmed | −351,356 | −$17.1M | 4.8% |
| JD Janus Detroit Str Tr | Trimmed | −264,476 | −$13.4M | 4.1% |
Showing the 10 largest of 72 changes.
quarter ended September 30, 2025 · filed October 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FT First Tr Exchange-traded Fd | New | +1,543,602 | +$26M | 5.9% |
| MA Mfs Active Exchange Traded F | Added | +177,818 | +$5.01M | 12.8% |
| VS Vanguard Specialized Funds | Added | +9,557 | +$2.06M | 4.9% |
| FT First Tr Exchange-traded Fd | Added | +76,327 | +$1.63M | 4.6% |
| FT First Tr Exchng Traded Fd Vi | New | +36,058 | +$1.21M | 0.3% |
| JP J P Morgan Exchange Traded F | Added | +23,612 | +$1.12M | 6.9% |
| JD Janus Detroit Str Tr | Added | +17,258 | +$876K | 3.1% |
| GS Goldman Sachs ETF Tr | Added | +15,734 | +$822K | 4.8% |
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −34,598 | −$716K | 1.3% |
| ES Ea Series Trust | Added | +10,338 | +$674K | 24.3% |
Showing the 10 largest of 57 changes.
quarter ended June 30, 2025 · filed July 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| ES Ea Series Trust | New | +1,624,092 | +$102M | 26.6% |
| MA Mfs Active Exchange Traded F | Added | +930,136 | +$24.7M | 12.6% |
| FT First Tr Exchange-traded Fd | New | +859,585 | +$18.1M | 4.7% |
| FT First Tr Exchng Traded Fd Vi | Trimmed | −687,220 | −$17.1M | 0.4% |
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −278,037 | −$5.43M | 0.2% |
| SA Ssga Active Tr | New | +212,372 | +$5.33M | 1.4% |
| JP J P Morgan Exchange Traded F | New | +107,391 | +$4.97M | 1.3% |
| GS Goldman Sachs ETF Tr | Added | +46,967 | +$2.34M | 5.1% |
| SS Schwab Strategic Tr | Added | +60,052 | +$1.75M | 0.5% |
| JP J P Morgan Exchange Traded F | Added | +24,430 | +$1.15M | 7.5% |
Showing the 10 largest of 54 changes.
quarter ended March 31, 2025 · filed April 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MA Mfs Active Exchange Traded F | Added | +866,362 | +$19.5M | 8.6% |
| FT First Tr Exchng Traded Fd Vi | Trimmed | −367,226 | −$17.5M | 0.5% |
| FT First Tr Exchng Traded Fd Vi | Trimmed | −314,390 | −$14.3M | 0.5% |
| FT First Tr Exchng Traded Fd Vi | Trimmed | −279,391 | −$13M | 1.1% |
| FT First Tr Exchng Traded Fd Vi | Trimmed | −209,027 | −$10.4M | 0.7% |
| FT First Tr Exchng Traded Fd Vi | Trimmed | −221,716 | −$10.2M | 0.3% |
| FT First Tr Exchng Traded Fd Vi | Added | +397,682 | +$9.84M | 8.0% |
| FT First Tr Exchng Traded Fd Vi | Trimmed | −164,102 | −$6.71M | 0.1% |
| TR T Rowe Price ETF Inc | Added | +190,362 | +$6.14M | 14.3% |
| FT First Tr Exchng Traded Fd Vi | Trimmed | −139,289 | −$5.78M | 0.1% |
Showing the 10 largest of 63 changes.
quarter ended December 31, 2024 · filed January 16, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TR T Rowe Price ETF Inc | Added | +574,200 | +$19.1M | 9.5% |
| JD Janus Detroit Str Tr | New | +171,359 | +$8.69M | 3.0% |
| FT First Tr Exchng Traded Fd Vi | New | +343,269 | +$8.46M | 2.9% |
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −313,712 | −$6.1M | 3.0% |
| IE Invesco Exch Trd Slf Idx Fd | Exited | −200,968 | −$4.24M | — |
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −174,076 | −$3.59M | 3.1% |
| IE Invesco Exch Trd Slf Idx Fd | New | +188,937 | +$3.47M | 1.2% |
| JP J P Morgan Exchange Traded F | Trimmed | −37,639 | −$1.73M | 9.1% |
| JP J P Morgan Exchange Traded F | Added | +31,940 | +$1.51M | 5.9% |
| AE Ark ETF Tr | Exited | −30,251 | −$1.44M | — |
Showing the 10 largest of 57 changes.
quarter ended September 30, 2024 · filed October 10, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AE Ark ETF Tr | Trimmed | −307,006 | −$14.6M | 0.6% |
| DE Dimensional ETF Trust | Exited | −399,239 | −$11.8M | — |
| JP J P Morgan Exchange Traded F | Added | +154,831 | +$7.47M | 11.2% |
| TR T Rowe Price ETF Inc | Added | +217,845 | +$7.24M | 3.2% |
| JP J P Morgan Exchange Traded F | Added | +91,883 | +$4.47M | 6.1% |
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −142,396 | −$3.01M | 1.6% |
| SS SPDR Ser Tr | New | +45,348 | +$2.24M | 0.9% |
| VS Vanguard Specialized Funds | Trimmed | −7,774 | −$1.54M | 7.4% |
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −67,971 | −$1.4M | 4.8% |
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −62,625 | −$1.22M | 5.7% |
Showing the 10 largest of 50 changes.
quarter ended June 30, 2024 · filed July 23, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −297,806 | −$6.27M | 2.8% |
| FT First Tr Exchng Traded Fd Vi | New | +20,642 | +$838K | 0.3% |
| IE Invesco Exch Trd Slf Idx Fd | Trimmed | −37,055 | −$758K | 5.3% |
| JP J P Morgan Exchange Traded F | Trimmed | −15,973 | −$753K | 4.3% |
| DE Dimensional ETF Trust | Trimmed | −19,717 | −$585K | 4.5% |
| Caterpillar Inc | Exited | −1,429 | −$524K | — |
| JP J P Morgan Exchange Traded F | Added | +10,373 | +$481K | 8.0% |
| IE Invesco Exch Traded Fd Tr Ii | Added | +4,395 | +$464K | 0.4% |
| IE Invesco Exch Traded Fd Tr Ii | New | +2,332 | +$460K | 0.2% |
| FT First Tr Exchng Traded Fd Vi | Added | +9,813 | +$438K | 4.2% |
Showing the 10 largest of 46 changes.
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