Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (51 quarters reported)
$733M in Q3 2013 → $9.05B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| IS Invesco Sp 500 Qvm Multifa | 14.9% | Trimmed 11% | 30,516,713 | $1.35B |
| IC Ishares Core Sp 500 ETF | 13.5% | Unchanged | 1,637,942 | $1.23B |
| SS Ss SPDR P Int Term Tsy ETF | 11.6% | Trimmed 4.5% | 36,956,056 | $1.05B |
| SS Ss SPDR P St Term Tsy ETF | 7.3% | Trimmed 19% | 22,686,978 | $658M |
| VF Vanguard Ftse Europe ETF | 6.5% | Trimmed 1.8% | 6,644,476 | $588M |
| SS Ss SPDR Pf Lng Trm Tsy Eusd | 5.7% | Trimmed 15% | 19,609,770 | $514M |
| IC Ishares Core Sp Midcap ETF | 4.9% | Unchanged | 5,705,045 | $440M |
| SU Schwab Us Tips ETF | 4.7% | Unchanged | 16,188,586 | $429M |
| IS Invesco Sp Midcap 400 Qvm M | 4.7% | Unchanged | 11,882,576 | $428M |
| SS Ss SPDR P Int C Corp ETF | 4.4% | Added 1.5% | 11,879,902 | $398M |
| BR Bondbloxxbb Rated Usd Hy Cb | 3.3% | Unchanged | 7,372,511 | $302M |
| IS Invesco Sp Smallcap 600 Qvm | 2.8% | Unchanged | 7,114,414 | $249M |
| IC Ishares Core Msci Emerging | 2.7% | Trimmed 10% | 2,975,052 | $246M |
| BU Bondbloxxjpm Usd Em Mk 110 | 2.3% | Unchanged | 4,714,975 | $212M |
| SS Ss SPDR P High Yield ETF | 2.1% | Unchanged | 8,191,734 | $192M |
| IS Invesco Sp 500 Equal Weight | 1.8% | New | 748,708 | $159M |
| FF Franklin Ftse Canada ETF | 1.6% | Unchanged | 2,773,743 | $143M |
| IF Ishares Fallen Angels ETF | 1.4% | Added 27% | 4,657,064 | $127M |
| IM Ishares Msci Global Metals | 1.1% | Unchanged | 1,767,862 | $103M |
| BB Bondbloxx Bbg 5 Yr Us Treas | 0.7% | Unchanged | 1,332,525 | $64.9M |
| IM Ishares Msci Global Gold Min | 0.6% | Unchanged | 776,753 | $50.2M |
| JB Jpmorgan Betabuilders Canada | 0.5% | Trimmed 25% | 478,673 | $47.6M |
| SE Ss Energy Select Sector | 0.3% | Unchanged | 474,882 | $25.2M |
| IC Ishares Copper And Metals | 0.3% | Unchanged | 501,672 | $24.7M |
| BR Bondbloxxb Rated Usd Hy Cb | 0.1% | Unchanged | 266,860 | $10.5M |
| Coinbase Global Inc | 0.1% | Unchanged | 50,757 | $7.42M |
| BH Bondbloxxcccusd Hy Corp Bd | 0.0% | Unchanged | 121,654 | $4.45M |
| IC Ishares Core Sp Smallcap E | 0.0% | Unchanged | 24,129 | $3.58M |
| FT Figure Technology Solutions In | 0.0% | New | 68,729 | $2.11M |
| JB Jpmorgan Betabuilders Develo | 0.0% | Trimmed 97% | 8,785 | $526K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 10, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IS Invesco Sp 500 Qvm Multifa | Trimmed | −3,615,297 | −$160M | 14.9% |
| IS Invesco Sp 500 Equal Weight | New | +748,708 | +$159M | 1.8% |
| SS Ss SPDR P St Term Tsy ETF | Trimmed | −5,398,227 | −$157M | 7.3% |
| SS Ss SPDR Pf Lng Trm Tsy Eusd | Trimmed | −3,389,982 | −$88.9M | 5.7% |
| SS Ss SPDR P Int Term Tsy ETF | Trimmed | −1,746,419 | −$49.6M | 11.6% |
| IC Ishares Core Msci Emerging | Trimmed | −338,777 | −$28.1M | 2.7% |
| IF Ishares Fallen Angels ETF | Added | +1,000,000 | +$27.2M | 1.4% |
| JB Jpmorgan Betabuilders Develo | Trimmed | −290,000 | −$17.4M | — |
| JB Jpmorgan Betabuilders Canada | Trimmed | −160,949 | −$16M | 0.5% |
| VF Vanguard Ftse Europe ETF | Trimmed | −120,389 | −$10.7M | 6.5% |
Showing the 10 largest of 12 changes.
quarter ended March 31, 2026 · filed May 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Ss SPDR Pf Lng Trm Tsy Eusd | Added | +7,602,426 | +$200M | 6.9% |
| VF Vanguard Ftse Europe ETF | Trimmed | −2,371,431 | −$195M | 6.3% |
| IC Ishares Core S&P 500 ETF | Added | +256,717 | +$168M | 12.1% |
| IC Ishares Core Msci Emerging | Trimmed | −1,914,169 | −$134M | 2.6% |
| IC Ishares Core S&P Midcap ETF | Added | +1,108,262 | +$74.8M | 4.4% |
| SS Ss SPDR P St Term Tsy ETF | Added | +2,205,443 | +$64.4M | 9.3% |
| BB Bondbloxx Bbg 1 Dur Us Treas | Exited | −1,178,547 | −$58.4M | — |
| SS Ss SPDR P High Yield ETF | Added | +2,190,878 | +$51.1M | 2.2% |
| IM Ishares Msci Global Metals & | Trimmed | −890,994 | −$50.4M | 1.1% |
| SS Ss SPDR P Int Term Tsy ETF | Added | +1,455,301 | +$41.7M | 12.6% |
Showing the 10 largest of 25 changes.
quarter ended December 31, 2025 · filed February 06, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Ss SPDR P St Term Tsy ETF | Added | +3,937,024 | +$115M | 8.6% |
| SS Ss SPDR Pf Lng Trm Tsy Eusd | Added | +2,767,751 | +$73.3M | 4.6% |
| IC Ishares Core S&P 500 ETF | Trimmed | −100,437 | −$68.8M | 10.7% |
| BR Bondbloxxbb Rated Usd Hy Cb | Added | +1,144,871 | +$47.1M | 3.4% |
| SS Ss SPDR P Int C Corp ETF | Trimmed | −1,263,328 | −$42.7M | 4.5% |
| SS Ss SPDR P Int Term Tsy ETF | Added | +1,385,521 | +$40M | 12.2% |
| IM Ishares Msci Global Gold Min | Trimmed | −528,148 | −$38.9M | 0.7% |
| IC Ishares Core Msci Emerging | Added | +454,887 | +$30.6M | 4.0% |
| SU Schwab Us Tips ETF | Trimmed | −1,152,844 | −$30.5M | 4.6% |
| SE Ss Energy Select Sector | Added | +631,148 | +$28.2M | 0.5% |
Showing the 10 largest of 28 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| First Majestic Silver Corp | Trimmed | −5,025,000 | −$61.8M | 0.2% |
quarter ended June 30, 2025 · filed August 04, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SP SPDR Port Int Corp Bond ETF | Added | +12,803,930 | +$430M | 5.2% |
| IC Ishares Core Msci Pacific Et | Exited | −6,404,807 | −$399M | — |
| VF Vanguard Ftse Europe ETF | Added | +2,400,165 | +$186M | 8.2% |
| JB Jpmorgan Betabuilders Europe | Exited | −2,042,693 | −$126M | — |
| SM Simplify Mbs ETF | Exited | −2,378,493 | −$119M | — |
| IF Ishares Fallen Angels ETF | New | +3,476,559 | +$94.4M | 1.1% |
| JB Jpmorgan Betabuilders Canada | New | +940,556 | +$75.9M | 0.9% |
| BB Bondbloxx Bbg 1 Dur Us Treas | Trimmed | −1,209,433 | −$60M | 0.7% |
| SP SPDR Port Lng Trm Trsry | Trimmed | −2,251,407 | −$59.8M | 4.0% |
| IC Ishares Core Sp Midcap ETF | Added | +909,298 | +$56.4M | 3.4% |
Showing the 10 largest of 18 changes.
quarter ended March 31, 2025 · filed May 07, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SP SPDR Port Int Treasury Term | Added | +9,437,321 | +$270M | 13.0% |
| BR Bondbloxxbb Rated Usd Hy Cb | Added | +5,189,823 | +$210M | 3.2% |
| VF Vanguard Ftse Europe ETF | Added | +2,692,667 | +$189M | 5.7% |
| II Ishares International Develo | Exited | −4,592,859 | −$158M | — |
| SB SPDR Bloomberg Em Usd Bond | Exited | −6,460,066 | −$154M | — |
| IJ Ishares Jp Morgan Usd Emergi | Exited | −1,547,548 | −$138M | — |
| IS Invesco Sp 500 Qvm Multifa | Added | +3,758,630 | +$126M | 14.5% |
| SP SPDR Portfolio High Yield Bo | Added | +4,666,949 | +$109M | 1.8% |
| IC Ishares Core Sp Midcap ETF | Added | +1,640,536 | +$95.7M | 2.7% |
| SP SPDR Port Lng Trm Trsry | Added | +3,190,578 | +$87M | 5.1% |
Showing the 10 largest of 24 changes.
quarter ended December 31, 2024 · filed February 10, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SU Schwab Us Tips ETF | New | +15,565,679 | +$402M | 5.5% |
| VI Vanguard Intermediateterm T | Exited | −3,390,733 | −$205M | — |
| VS Vanguard Shortterm Treasury | Trimmed | −3,351,994 | −$195M | 0.2% |
| VL Vanguard Longterm Treasury | Trimmed | −764,623 | −$42.3M | — |
| SP SPDR Port Lng Trm Trsry | Trimmed | −1,074,058 | −$28.1M | 4.2% |
| IM Ishares Msci Global Gold Min | Trimmed | −352,062 | −$9.9M | 0.7% |
| ES Energy Select Sector SPDR | Added | +81,207 | +$6.96M | 0.5% |
| IM Ishares Msci Global Metals | Added | +101,807 | +$3.56M | 1.5% |
| IM Ishares Mbs ETF | Trimmed | −36,128 | −$3.31M | 0.1% |
| SP SPDR Port Shrt Trm Trsry | Added | +91,374 | +$2.65M | 8.7% |
Showing the 10 largest of 18 changes.
quarter ended September 30, 2024 · filed November 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SM Simplify Mbs ETF | Added | +1,940,538 | +$99.9M | 2.1% |
| IM Ishares Msci Global Gold Min | Trimmed | −1,701,410 | −$56.2M | 1.0% |
| JB Jpmorgan Betabuilders Europe | Trimmed | −655,056 | −$40.8M | 1.7% |
| SB SPDR Bloomberg Em Usd Bond | Trimmed | −1,590,498 | −$39.9M | 2.1% |
| IC Ishares Core Sp 500 ETF | Trimmed | −34,831 | −$20.1M | 10.9% |
| SP SPDR Portfolio High Yield Bo | Trimmed | −237,467 | −$5.71M | 0.4% |
| BU Bondbloxxjpm Usd Em Mk 110 | Added | +124,969 | +$5.36M | 2.7% |
| ES Energy Select Sector SPDR | Added | +38,680 | +$3.4M | 0.4% |
| IS Invesco Sp 500 Qvm Multifa | Added | +84,824 | +$2.88M | 13.6% |
| BR Bondbloxxbb Rated Usd Hy Cb | Added | +29,865 | +$1.23M | 0.6% |
Showing the 10 largest of 29 changes.
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