Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (22 quarters reported)
$1.27B in Q4 2019 → $20.2B now. Hover for any quarter.
As reported for the quarter ended March 31, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| NL Northern Lts Fd Tr Iv | 9.3% | Added 99% | 35,584,508 | $1.89B |
| IT Ishares Tr | 2.3% | Added 209% | 804,262 | $459M |
| NL Northern Lts Fd Tr Iv | 2.1% | Added 105% | 30,422,964 | $421M |
| VI Vanguard Index Fds | 1.4% | Added 103% | 1,036,667 | $293M |
| Nvidia Corporation | 1.3% | Added 110% | 2,202,381 | $266M |
| Elevance Health Inc | 1.2% | Added 2.0% | 927,214 | $236M |
| Apple Inc | 1.1% | Added 1780% | 1,013,145 | $222M |
| IT Ishares Tr | 1.1% | Added 95% | 567,371 | $217M |
| VT Vanguard Tax-managed Fds | 1.0% | Added 110% | 4,257,290 | $210M |
| VI Vanguard Index Fds | 1.0% | Added 102% | 500,192 | $195M |
| Fiserv Inc | 0.9% | Added 13% | 481,590 | $192M |
| Microsoft Corp | 0.9% | Added 654% | 502,501 | $174M |
| VI Vanguard Index Fds | 0.8% | Added 109% | 964,053 | $165M |
| VI Vanguard Index Fds | 0.8% | Added 102% | 304,343 | $160M |
| SS SPDR S&P 500 ETF Tr | 0.7% | Added 97% | 261,507 | $150M |
| IT Ishares Tr | 0.7% | Added 104% | 1,441,550 | $141M |
| IT Ishares Tr | 0.7% | Added 78% | 1,292,561 | $137M |
| IT Ishares Tr | 0.7% | Added 100% | 1,967,955 | $134M |
| SS SPDR Ser Tr | 0.7% | Added 4.8% | 1,517,844 | $133M |
| Meta Platforms Inc | 0.6% | Added 110% | 217,474 | $126M |
| AP Air Prods & Chems Inc | 0.6% | Added 6.2% | 562,686 | $126M |
| Amazon Com Inc | 0.6% | Added 3766% | 594,128 | $116M |
| IT Ishares Tr | 0.6% | Added 101% | 902,143 | $113M |
| DS Direxion Shs ETF Tr | 0.6% | Added 108% | 3,392,194 | $112M |
| IE Invesco Exch Traded Fd Tr Ii | 0.5% | Added 150% | 1,188,967 | $111M |
| IQ Invesco Qqq Tr | 0.5% | Added 103% | 226,627 | $111M |
| Visa Inc | 0.5% | Added 98% | 331,824 | $111M |
| Alphabet Inc | 0.5% | Added 83% | 613,246 | $107M |
| Walmart Inc | 0.5% | Added 106% | 1,193,359 | $106M |
| AI Advisors Inner Circle Fd Ii | 0.5% | New | 4,251,361 | $106M |
| SS Schwab Strategic Tr | 0.5% | Added 95% | 2,929,972 | $101M |
| BH Berkshire Hathaway Inc Del | 0.5% | Added 105% | 204,227 | $101M |
| GS Goldman Sachs ETF Tr | 0.5% | Added 98% | 892,637 | $101M |
| Jpmorgan Chase & Co. | 0.5% | Added 102% | 399,831 | $97M |
| NL Northern Lts Fd Tr Iv | 0.5% | Added 98% | 5,007,319 | $96.5M |
| Unitedhealth Group Inc | 0.4% | Added 101% | 174,979 | $90.1M |
| NL Northern Lights Fd Tr | 0.4% | Added 113% | 2,757,658 | $89M |
| PF Pacer Fds Tr | 0.4% | Added 72% | 1,585,746 | $88.4M |
| Broadcom Inc | 0.4% | Added 111% | 444,837 | $88.1M |
| VI Vanguard Intl Equity Index F | 0.4% | Added 119% | 1,893,669 | $84.7M |
| IT Ishares Tr | 0.4% | Added 6.2% | 361,134 | $84.4M |
| IT Ishares Tr | 0.4% | Added 73% | 1,138,896 | $82.6M |
| SS SPDR Ser Tr | 0.4% | Added 101% | 971,466 | $75M |
| EL Eli Lilly & Co | 0.4% | Added 109% | 90,993 | $72.8M |
| IE Invesco Exchange Traded Fd T | 0.4% | Added 21% | 595,895 | $72.6M |
| VP Victory Portfolios Ii | 0.4% | Added 0.9% | 1,556,712 | $71.6M |
| Adobe Inc | 0.3% | Added 14% | 326,025 | $70M |
| VE Vaneck ETF Trust | 0.3% | Added 98% | 1,311,988 | $69.3M |
| VM Vanguard Malvern Fds | 0.3% | New | 894,071 | $69.2M |
| I Ishares Inc | 0.3% | Added 103% | 1,252,180 | $66.5M |
| DE Dbx ETF Tr | 0.3% | Added 96% | 1,274,521 | $66.4M |
| IT Ishares Tr | 0.3% | Added 93% | 542,279 | $66.3M |
| Mastercard Incorporated | 0.3% | Added 105% | 122,694 | $66M |
| VW Vanguard World Fd | 0.3% | Added 97% | 312,779 | $64.8M |
| Tesla Inc | 0.3% | Added 124% | 197,131 | $63.8M |
| Exxon Mobil Corp | 0.3% | Added 105% | 559,701 | $63.5M |
| Johnson & Johnson | 0.3% | Added 102% | 402,882 | $62.6M |
| IT Ishares Tr | 0.3% | Added 98% | 226,415 | $61.5M |
| AC American Centy ETF Tr | 0.3% | Added 119% | 1,027,092 | $61.2M |
| Home Depot Inc | 0.3% | Added 102% | 161,454 | $61M |
Showing top 60 of 2010 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NL Northern Lts Fd Tr Iv | Added | +17,670,190 | +$937M | 9.3% |
| IT Ishares Tr | Added | +544,079 | +$310M | 2.3% |
| NL Northern Lts Fd Tr Iv | Added | +15,577,139 | +$215M | 2.1% |
| Apple Inc | Added | +959,240 | +$210M | 1.1% |
| Microsoft Corp | Added | +435,876 | +$151M | 0.9% |
| VI Vanguard Index Fds | Added | +525,477 | +$148M | 1.4% |
| Nvidia Corporation | Added | +1,155,912 | +$140M | 1.3% |
| Amazon Com Inc | Added | +578,758 | +$113M | 0.6% |
| VT Vanguard Tax-managed Fds | Added | +2,232,569 | +$110M | 1.0% |
| AI Advisors Inner Circle Fd Ii | New | +4,251,361 | +$106M | 0.5% |
Showing the 10 largest of 1877 changes.
quarter ended December 31, 2024 · filed February 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Elevance Health Inc | Added | +895,658 | +$224M | 2.3% |
| Amazon Com Inc | Trimmed | −535,077 | −$197M | 0.1% |
| Fiserv Inc | Added | +384,263 | +$162M | 1.8% |
| Apple Inc | Trimmed | −830,587 | −$135M | 0.1% |
| SS SPDR Ser Tr | Added | +1,397,104 | +$123M | 1.3% |
| AP Air Prods & Chems Inc | Added | +499,110 | +$109M | 1.2% |
| IT Ishares Tr | Trimmed | −170,738 | −$101M | 1.5% |
| IT Ishares Tr | Added | +319,162 | +$75.1M | 0.8% |
| Alphabet Inc | Trimmed | −306,300 | −$68.8M | — |
| IT Ishares Tr | Exited | −785,458 | −$63.8M | — |
Showing the 10 largest of 1921 changes.
quarter ended September 30, 2024 · filed November 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Ser Tr | Added | +1,360,461 | +$71.9M | 0.8% |
| SS SPDR Ser Tr | Trimmed | −797,851 | −$66.2M | — |
| IT Ishares Tr | Trimmed | −295,424 | −$65M | — |
| IT Ishares Tr | New | +785,458 | +$63.8M | 0.6% |
| IT Ishares Tr | Trimmed | −103,433 | −$59.7M | 2.5% |
| IT Ishares Tr | Added | +378,179 | +$44.5M | 0.6% |
| IT Ishares Tr | Added | +373,937 | +$37.9M | 1.0% |
| JP J P Morgan Exchange Traded F | Trimmed | −808,180 | −$35.2M | 0.1% |
| Broadcom Inc | Added | +178,433 | +$30.8M | 0.3% |
| SS SPDR Ser Tr | Trimmed | −328,540 | −$30.2M | 0.2% |
Showing the 10 largest of 1856 changes.
quarter ended June 30, 2024 · filed August 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nvidia Corporation | Added | +858,211 | +$106M | 1.2% |
| SS SPDR Ser Tr | Added | +811,202 | +$65M | 0.7% |
| BM Bny Mellon ETF Trust | Trimmed | −856,244 | −$43.5M | 0.1% |
| CG Capital Group Intl Focus Eqt | New | +1,443,391 | +$37.1M | 0.4% |
| SS SPDR Ser Tr | Trimmed | −372,808 | −$31.3M | — |
| IE Invesco Exch Traded Fd Tr Ii | Trimmed | −1,026,409 | −$20.8M | 0.1% |
| IT Ishares Tr | Trimmed | −97,051 | −$18.9M | — |
| IT Ishares Tr | Trimmed | −32,179 | −$17.6M | 3.1% |
| AL Abbott Labs | New | +168,250 | +$17.5M | 0.2% |
| Apple Inc | Added | +80,816 | +$17M | 1.8% |
Showing the 10 largest of 1815 changes.
quarter ended March 31, 2024 · filed May 09, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | New | +566,533 | +$298M | 3.2% |
| SS SPDR Ser Tr | Trimmed | −1,285,590 | −$64.4M | — |
| IT Ishares Tr | Trimmed | −575,234 | −$59.1M | — |
| IT Ishares Tr | Trimmed | −510,061 | −$56.4M | 0.2% |
| IE Invesco Exch Traded Fd Tr Ii | New | +573,576 | +$46M | 0.5% |
| SS SPDR Ser Tr | Trimmed | −550,151 | −$41.8M | — |
| IT Ishares Tr | Added | +202,073 | +$39.4M | 0.6% |
| IE Invesco Exch Traded Fd Tr Ii | Trimmed | −195,574 | −$35.7M | — |
| SS SPDR Ser Tr | Added | +384,171 | +$33.5M | 0.4% |
| Home Depot Inc | New | +80,223 | +$30.8M | 0.3% |
Showing the 10 largest of 1758 changes.
quarter ended December 31, 2023 · filed February 09, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Exited | −519,823 | −$223M | — |
| VP Victory Portfolios Ii | New | +1,752,154 | +$81.6M | 0.9% |
| IE Invesco Exchange Traded Fd T | Trimmed | −671,443 | −$66.8M | — |
| SS SPDR Ser Tr | Added | +1,291,334 | +$60.6M | 0.7% |
| IT Ishares Tr | Added | +575,380 | +$58.1M | 0.7% |
| PE Pimco ETF Tr | Trimmed | −587,524 | −$54M | 0.2% |
| SS SPDR Ser Tr | Trimmed | −829,996 | −$53.5M | — |
| IE Invesco Exchange Traded Fd T | Trimmed | −883,846 | −$47.7M | 0.1% |
| SS SPDR Ser Tr | Added | +549,277 | +$39.9M | 0.5% |
| IT Ishares Tr | Trimmed | −651,601 | −$37.9M | 0.1% |
Showing the 10 largest of 1769 changes.
quarter ended September 30, 2023 · filed November 01, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −185,707 | −$79.7M | 2.7% |
| IT Ishares Tr | Trimmed | −1,198,815 | −$71.9M | 0.9% |
| GS Goldman Sachs ETF Tr | Trimmed | −840,831 | −$70.8M | 0.9% |
| IT Ishares Tr | Trimmed | −402,263 | −$61.9M | 0.1% |
| PE Pimco ETF Tr | Trimmed | −702,194 | −$61.7M | 0.8% |
| IE Invesco Exchange Traded Fd T | New | +674,250 | +$60.7M | 0.7% |
| JP J P Morgan Exchange Traded F | Trimmed | −1,503,834 | −$52.1M | 0.6% |
| SS SPDR Ser Tr | Added | +844,904 | +$50.1M | 0.6% |
| IE Invesco Exchange Traded Fd T | Trimmed | −998,004 | −$49.9M | 0.6% |
| IE Invesco Exch Traded Fd Tr Ii | Trimmed | −2,698,595 | −$48.1M | 0.6% |
Showing the 10 largest of 1682 changes.
quarter ended June 30, 2023 · filed August 17, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BC Blackrock Corpor Hi Yld Fd I | Trimmed | −233,992 | −$209M | — |
| IT Ishares Tr | New | +1,719,271 | +$95.6M | 1.0% |
| IT Ishares Tr | New | +2,440,904 | +$76.9M | 0.8% |
| Apple Inc | Trimmed | −244,148 | −$76.4M | 1.7% |
| PE Pimco ETF Tr | Added | +691,253 | +$63.3M | 1.4% |
| GS Goldman Sachs ETF Tr | Added | +627,817 | +$54.8M | 1.6% |
| JP J P Morgan Exchange Traded F | Added | +1,422,212 | +$50.7M | 1.1% |
| VP Victory Portfolios Ii | New | +1,012,752 | +$49.5M | 0.5% |
| IE Invesco Exchange Traded Fd T | Added | +970,308 | +$49M | 1.1% |
| IE Invesco Exch Traded Fd Tr Ii | Added | +2,587,353 | +$48.2M | 1.1% |
Showing the 10 largest of 1685 changes.
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