Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (19 quarters reported)
$1.4B in Q4 2021 → $1.36B 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 |
|---|---|---|---|---|
| SS State Str SPDR S&P 500 ETF T | 26.5% | Trimmed 1.0% | 481,148 | $359M |
| IT Ishares Tr | 16.9% | Added 17% | 2,378,304 | $230M |
| IT Ishares Tr Put | 15.6% | Added 8.6% | 2,037,500 | $212M |
| I Ishares Inc | 8.1% | Added 18% | 1,323,586 | $110M |
| IT Ishares Tr Put | 7.4% | Added 37% | 1,467,200 | $100M |
| IT Ishares Tr | 6.4% | Added 12% | 115,530 | $86.5M |
| VI Vanguard Index Fds | 3.1% | Trimmed 10% | 61,884 | $42.5M |
| IT Ishares Tr | 2.8% | Added 124% | 349,260 | $38.2M |
| SS State Str SPDR S&P Midcap 40 | 1.4% | New | 27,485 | $19.3M |
| SS SPDR Series Trust | 1.4% | Added 90% | 166,897 | $19.3M |
| SS Select Sector SPDR Tr | 1.4% | New | 377,252 | $19.2M |
| IT Ishares Tr | 1.4% | Trimmed 44% | 193,201 | $19.1M |
| SS Select Sector SPDR Tr | 1.4% | Added 12% | 421,077 | $19.1M |
| SS Select Sector SPDR Tr | 1.4% | Added 1.2% | 120,076 | $19.1M |
| IT Ishares Tr | 1.4% | Added 1.5% | 186,130 | $19M |
| SS Select Sector SPDR Tr | 1.4% | Added 9.1% | 228,904 | $19M |
| SS Select Sector SPDR Tr | 1.4% | New | 357,183 | $19M |
| ID Invesco Db Multi-sector Comm | 0.6% | Trimmed 8.8% | 288,704 | $7.7M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +341,704 | +$33M | 16.9% |
| IT Ishares Tr | Added | +394,000 | +$27M | 7.4% |
| IT Ishares Tr | Added | +193,664 | +$21.2M | 2.8% |
| SS State Str SPDR S&P Midcap 40 | New | +27,485 | +$19.3M | 1.4% |
| SS Select Sector SPDR Tr | New | +377,252 | +$19.2M | 1.4% |
| SS Select Sector SPDR Tr | New | +357,183 | +$19M | 1.4% |
| IT Ishares Tr | Added | +162,200 | +$16.8M | 15.6% |
| I Ishares Inc | Added | +200,686 | +$16.6M | 8.1% |
| IT Ishares Tr | Trimmed | −153,532 | −$15.2M | 1.4% |
| SS SPDR Series Trust | Added | +78,852 | +$9.11M | 1.4% |
Showing the 10 largest of 18 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | New | +1,875,300 | +$182M | 17.0% |
| IT Ishares Tr | New | +1,073,200 | +$60.9M | 5.7% |
| I Ishares Inc | Trimmed | −651,746 | −$45.5M | 7.3% |
| IT Ishares Tr | New | +346,733 | +$34.4M | 3.2% |
| IT Ishares Tr | Trimmed | −208,232 | −$23M | 1.6% |
| SS Select Sector SPDR Tr | Exited | −445,856 | −$19.9M | — |
| SS Select Sector SPDR Tr | Exited | −438,697 | −$19.9M | — |
| IT Ishares Tr | Trimmed | −219,336 | −$19.9M | 17.2% |
| SS SPDR Series Trust | Trimmed | −200,334 | −$19.8M | 0.8% |
| IT Ishares Tr | New | +183,304 | +$17.3M | 1.6% |
Showing the 10 largest of 18 changes.
quarter ended December 31, 2025 · filed February 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| I Ishares Inc | Added | +620,246 | +$41.7M | 12.3% |
| IT Ishares Tr | New | +363,828 | +$40M | 4.1% |
| SS Select Sector SPDR Tr | New | +445,856 | +$19.9M | 2.1% |
| SS Select Sector SPDR Tr | New | +438,697 | +$19.9M | 2.1% |
| IT Ishares Tr | Exited | −189,294 | −$18.4M | — |
| IT Ishares Tr | Exited | −182,465 | −$18.3M | — |
| IT Ishares Tr | Added | +169,636 | +$15.2M | 20.9% |
| SS SPDR Series Trust | Added | +123,065 | +$12.7M | 3.1% |
| SS Select Sector SPDR Tr | Added | +255,712 | +$10.9M | 2.1% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −15,478 | −$10.6M | 34.9% |
Showing the 10 largest of 16 changes.
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Trimmed | −77,465 | −$51.6M | 40.9% |
| IT Ishares Tr | Trimmed | −226,438 | −$22.7M | 2.2% |
| SS SPDR Series Trust | New | +165,314 | +$18.3M | 2.2% |
| IT Ishares Tr | Added | +68,800 | +$6.01M | 21.9% |
| VI Vanguard Index Fds | Trimmed | −8,741 | −$5.35M | 6.2% |
| SS Select Sector SPDR Tr | Added | +67,169 | +$5.26M | 2.2% |
| SS Select Sector SPDR Tr | Added | +34,369 | +$4.78M | 2.3% |
| I Ishares Inc | Trimmed | −65,000 | −$4.28M | 9.2% |
| SS Select Sector SPDR Tr | Added | +43,199 | +$3.77M | 2.2% |
| IT Ishares Tr | Trimmed | −27,840 | −$2.7M | 2.2% |
Showing the 10 largest of 11 changes.
quarter ended June 30, 2025 · filed August 08, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Added | +96,432 | +$59.6M | 43.9% |
| IT Ishares Tr | Added | +66,708 | +$41.4M | 8.2% |
| VI Vanguard Index Fds | Added | +46,158 | +$26.2M | 6.4% |
| IT Ishares Tr | Exited | −134,275 | −$14.6M | — |
| IT Ishares Tr | Added | +113,905 | +$11.3M | 4.9% |
| SS SPDR Ser Tr | Exited | −76,708 | −$7.43M | — |
| IT Ishares Tr | Added | +63,687 | +$6.04M | 2.5% |
| ID Invesco Db Multi-sector Comm | Exited | −221,303 | −$5.83M | — |
| I Ishares Inc | Trimmed | −28,200 | −$1.69M | 8.9% |
| SS Select Sector SPDR Tr | Trimmed | −19,181 | −$1.57M | 1.6% |
Showing the 10 largest of 13 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −175,951 | −$19.1M | 2.2% |
| SS SPDR S&P Midcap 400 ETF Tr | Exited | −29,170 | −$16.6M | — |
| SS SPDR S&P 500 ETF Tr | Added | +15,894 | +$8.89M | 41.6% |
| VI Vanguard Index Fds | Added | +12,887 | +$6.62M | 3.6% |
| IT Ishares Tr | Added | +11,711 | +$6.58M | 3.6% |
| IT Ishares Tr | Trimmed | −47,636 | −$4.71M | 4.4% |
| SS Select Sector SPDR Tr | Trimmed | −19,346 | −$2.82M | 2.2% |
| SS Select Sector SPDR Tr | Trimmed | −33,128 | −$2.61M | 2.2% |
| SS Select Sector SPDR Tr | Trimmed | −30,737 | −$2.51M | 2.2% |
| IT Ishares Tr | Trimmed | −25,304 | −$2.42M | 2.2% |
Showing the 10 largest of 14 changes.
quarter ended December 31, 2024 · filed February 10, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +178,790 | +$19.1M | 4.8% |
| SS SPDR S&P Midcap 400 ETF Tr | New | +29,170 | +$16.6M | 2.4% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −15,012 | −$8.8M | 40.5% |
| SS SPDR Ser Tr | New | +79,165 | +$8.27M | 1.2% |
| IT Ishares Tr | Trimmed | −100,760 | −$7.08M | 20.9% |
| IT Ishares Tr | Added | +49,229 | +$4.77M | 4.8% |
| IT Ishares Tr | Trimmed | −42,682 | −$3.97M | 2.4% |
| SS Select Sector SPDR Tr | Added | +23,419 | +$3.22M | 2.4% |
| SS Select Sector SPDR Tr | Added | +33,095 | +$2.6M | 2.4% |
| SS Select Sector SPDR Tr | Added | +33,563 | +$2.54M | 2.4% |
Showing the 10 largest of 14 changes.
quarter ended September 30, 2024 · filed November 01, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Trimmed | −70,419 | −$40.4M | 42.1% |
| SS SPDR S&P Midcap 400 ETF Tr | Exited | −50,258 | −$26.9M | — |
| SS Select Sector SPDR Tr | New | +97,365 | +$15M | 2.2% |
| SS Select Sector SPDR Tr | New | +185,482 | +$15M | 2.2% |
| SS Select Sector SPDR Tr | New | +178,541 | +$14.8M | 2.2% |
| SS SPDR Ser Tr | Exited | −132,845 | −$13.4M | — |
| I Ishares Inc | Trimmed | −190,016 | −$10.9M | 10.6% |
| IT Ishares Tr | Trimmed | −131,152 | −$10.2M | 25.1% |
| IT Ishares Tr | Added | +67,553 | +$6.88M | 3.4% |
| IT Ishares Tr | Trimmed | −4,545 | −$2.62M | 2.3% |
Showing the 10 largest of 14 changes.
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