Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (52 quarters reported)
$303M in Q2 2013 → $3.45B now. Hover for any quarter.
As reported for the quarter ended March 31, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| IT Ishares Tr | 15.0% | New | 6,178,128 | $516M |
| IT Ishares Tr | 10.3% | Added 2727% | 1,846,285 | $354M |
| IT Ishares Tr | 10.2% | New | 3,673,879 | $351M |
| BE Blackrock ETF Trust Ii | 9.3% | New | 6,186,664 | $321M |
| I Ishares Inc | 7.8% | Added 26% | 3,400,240 | $267M |
| IE Invesco Exch Traded Fd Tr Ii | 6.1% | Added 199% | 9,102,497 | $209M |
| VI Vanguard Index Fds | 5.5% | Trimmed 42% | 969,895 | $190M |
| SS SPDR Series Trust | 4.8% | Added 12% | 1,139,462 | $166M |
| IT Ishares Tr | 4.5% | Added 16486930% | 1,648,703 | $157M |
| SS SPDR Series Trust | 4.2% | Added 39816200% | 1,592,652 | $146M |
| FC Fidelity Covington Trust | 3.6% | Trimmed 55% | 594,003 | $124M |
| GG Graniteshares Gold Tr | 2.9% | Trimmed 2.0% | 2,151,643 | $99.3M |
| SS Select Sector SPDR Tr | 1.1% | Trimmed 50% | 335,477 | $37.2M |
| IT Ishares Tr | 1.1% | Trimmed 69% | 397,027 | $37.1M |
| Nvidia Corporation | 0.9% | Trimmed 1.8% | 171,706 | $29.9M |
| Apple Inc | 0.8% | Trimmed 3.7% | 102,435 | $26M |
| Microsoft Corp | 0.5% | Added 4.6% | 50,480 | $18.7M |
| VI Vanguard Intl Equity Index F | 0.4% | Added 2220% | 102,468 | $14.2M |
| Amazon Com Inc | 0.4% | Unchanged | 66,685 | $13.9M |
| Alphabet Inc | 0.3% | Trimmed 3.4% | 40,744 | $11.7M |
| Alphabet Inc | 0.3% | Trimmed 7.4% | 33,713 | $9.67M |
| Broadcom Inc | 0.3% | Trimmed 3.4% | 31,166 | $9.65M |
| Meta Platforms Inc | 0.2% | Trimmed 4.7% | 14,937 | $8.55M |
| Tesla Inc | 0.2% | Trimmed 6.0% | 18,772 | $6.98M |
| Jpmorgan Chase & Co | 0.2% | Trimmed 11% | 17,934 | $5.28M |
| Johnson & Johnson | 0.1% | Unchanged | 20,982 | $5.13M |
| EL Eli Lilly & Co | 0.1% | Trimmed 11% | 5,317 | $4.89M |
| Argan Inc | 0.1% | New | 8,425 | $4.59M |
| Mastec Inc | 0.1% | New | 13,515 | $4.35M |
| CS Comfort Sys Usa Inc | 0.1% | New | 2,845 | $3.92M |
| Coca Cola Co | 0.1% | Unchanged | 49,499 | $3.76M |
| Sterling Infrastructure Inc | 0.1% | New | 9,142 | $3.72M |
| Exxon Mobil Corp | 0.1% | Unchanged | 21,440 | $3.64M |
| IT Ishares Tr | 0.1% | Added 263% | 55,886 | $3.6M |
| Chevron Corporation | 0.1% | Unchanged | 16,231 | $3.36M |
| Emcor Group Inc | 0.1% | New | 4,487 | $3.31M |
| BH Berkshire Hathaway Inc Del | 0.1% | Trimmed 18% | 6,772 | $3.25M |
| PM Philip Morris Intl Inc | 0.1% | Unchanged | 19,274 | $3.19M |
| PS Primoris Svcs Corp | 0.1% | New | 21,836 | $3.12M |
| TR Targa Res Corp | 0.1% | Unchanged | 11,905 | $2.98M |
| Saia Inc | 0.1% | New | 8,471 | $2.98M |
| Bwx Technologies Inc | 0.1% | New | 14,428 | $2.95M |
| Spx Technologies Inc | 0.1% | New | 14,672 | $2.93M |
| HI Huntington Ingalls Inds Inc | 0.1% | New | 7,615 | $2.89M |
| CH C H Robinson Worldwide In | 0.1% | New | 17,311 | $2.87M |
| DI Dycom Inds Inc | 0.1% | New | 8,445 | $2.86M |
| Micron Technology Inc | 0.1% | Trimmed 12% | 8,432 | $2.85M |
| Pepsico Inc | 0.1% | Unchanged | 18,272 | $2.84M |
| Western Digital Corp | 0.1% | Trimmed 33% | 10,478 | $2.83M |
| S&P Global Inc | 0.1% | Unchanged | 6,582 | $2.8M |
| Walmart Inc | 0.1% | Trimmed 51% | 22,216 | $2.76M |
| BA Bank America Corp | 0.1% | Unchanged | 56,372 | $2.75M |
| Cencora Inc | 0.1% | Unchanged | 8,519 | $2.68M |
| Abbvie Inc | 0.1% | Unchanged | 12,125 | $2.64M |
| Core & Main Inc | 0.1% | New | 53,381 | $2.64M |
| OC Owens Corning New | 0.1% | New | 24,121 | $2.61M |
| Loews Corp | 0.1% | New | 24,315 | $2.6M |
| Antero Midstream Corp | 0.1% | Unchanged | 113,696 | $2.59M |
| Advanced Micro Devices Inc | 0.1% | Unchanged | 12,662 | $2.58M |
| Exelon Corp | 0.1% | Unchanged | 51,075 | $2.5M |
Showing top 60 of 227 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended March 31, 2026 · filed April 22, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −12,720,632 | −$588M | — |
| IT Ishares Tr | New | +6,178,128 | +$516M | 15.0% |
| JD Janus Detroit Str Tr | Trimmed | −8,837,273 | −$399M | 0.1% |
| IT Ishares Tr | New | +3,673,879 | +$351M | 10.2% |
| IT Ishares Tr | Added | +1,780,967 | +$342M | 10.3% |
| BE Blackrock ETF Trust Ii | New | +6,186,664 | +$321M | 9.3% |
| SS SPDR Series Trust | Trimmed | −7,944,187 | −$228M | — |
| SS SPDR Series Trust | Trimmed | −7,106,015 | −$207M | — |
| IT Ishares Tr | Added | +1,648,693 | +$157M | 4.5% |
| FC Fidelity Covington Trust | Trimmed | −739,953 | −$154M | 3.6% |
Showing the 10 largest of 171 changes.
quarter ended December 31, 2025 · filed February 03, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +2,216,790 | +$101M | 17.0% |
| SS Select Sector SPDR Tr | Trimmed | −1,211,356 | −$66.3M | — |
| IT Ishares Tr | Trimmed | −236,398 | −$41.5M | — |
| SS Select Sector SPDR Tr | Added | +523,153 | +$22.3M | 1.3% |
| I Ishares Inc | Trimmed | −125,172 | −$9.1M | 5.8% |
| FC Fidelity Covington Trust | Trimmed | −28,233 | −$6.34M | 8.8% |
| VI Vanguard Index Fds | Trimmed | −30,209 | −$5.77M | 9.3% |
| IT Ishares Tr | Trimmed | −24,442 | −$5.25M | — |
| GA Ge Aerospace | Exited | −15,972 | −$4.8M | — |
| Microsoft Corp | Trimmed | −8,314 | −$4.02M | 0.7% |
Showing the 10 largest of 200 changes.
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IE Invesco Exch Traded Fd Tr Ii | New | +3,071,002 | +$71.3M | 2.0% |
| IT Ishares Tr | Trimmed | −633,417 | −$65.5M | 3.2% |
| IT Ishares Tr | Added | +1,399,534 | +$62.1M | 13.3% |
| JD Janus Detroit Str Tr | Trimmed | −1,323,021 | −$60.6M | 11.7% |
| SS Select Sector SPDR Tr | Trimmed | −866,069 | −$46.6M | 1.9% |
| Nvidia Corporation | Trimmed | −226,170 | −$42.2M | 1.0% |
| Apple Inc | Trimmed | −139,413 | −$35.5M | 0.9% |
| IT Ishares Tr | Trimmed | −199,561 | −$34.5M | 1.2% |
| Microsoft Corp | Trimmed | −65,321 | −$33.8M | 0.8% |
| IT Ishares Tr | Exited | −429,008 | −$23.9M | — |
Showing the 10 largest of 211 changes.
quarter ended June 30, 2025 · filed August 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Series Trust | New | +8,248,164 | +$237M | 5.9% |
| SS SPDR Series Trust | Trimmed | −5,285,355 | −$155M | 5.3% |
| I Ishares Inc | Trimmed | −2,303,009 | −$145M | 4.5% |
| IT Ishares Tr | Added | +2,133,489 | +$92.2M | 9.7% |
| SS SPDR Series Trust | Trimmed | −1,681,048 | −$71.6M | — |
| JD Janus Detroit Str Tr | Exited | −1,333,544 | −$64.9M | — |
| KT Kraneshares Trust | Trimmed | −3,260,243 | −$63.8M | — |
| SS Select Sector SPDR Tr | New | +744,800 | +$60.3M | 1.5% |
| SS Select Sector SPDR Tr | Trimmed | −1,033,246 | −$54.1M | 2.7% |
| SS Select Sector SPDR Tr | New | +557,493 | +$45.5M | 1.1% |
Showing the 10 largest of 185 changes.
quarter ended March 31, 2025 · filed April 29, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +4,755,842 | +$189M | 6.7% |
| I Ishares Inc | Trimmed | −1,904,148 | −$105M | 6.9% |
| SS Select Sector SPDR Tr | Added | +1,845,994 | +$91.9M | 3.8% |
| I Ishares Inc | Trimmed | −1,559,193 | −$83M | — |
| JP J P Morgan Exchange Traded F | Trimmed | −1,057,510 | −$75.7M | — |
| SS Select Sector SPDR Tr | New | +685,668 | +$66.1M | 1.6% |
| SS SPDR Ser Tr | Trimmed | −1,518,068 | −$61.9M | 1.7% |
| SS Select Sector SPDR Tr | Trimmed | −575,400 | −$53.8M | — |
| IT Ishares Tr | Trimmed | −546,252 | −$31.4M | 0.2% |
| IT Ishares Tr | Trimmed | −271,447 | −$26.8M | — |
Showing the 10 largest of 234 changes.
quarter ended December 31, 2024 · filed February 04, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SI SPDR Index Shs Fds | Trimmed | −1,238,769 | −$61.5M | — |
| VI Vanguard Index Fds | Added | +273,995 | +$46.4M | 7.2% |
| IT Ishares Tr | Added | +557,502 | +$32M | 0.9% |
| IT Ishares Tr | Added | +268,349 | +$26M | 0.6% |
| IT Ishares Tr | Trimmed | −255,892 | −$25.5M | 3.7% |
| I Ishares Inc | Trimmed | −458,494 | −$25.4M | 8.9% |
| SS SPDR Ser Tr | Trimmed | −618,040 | −$17.9M | 8.5% |
| JD Janus Detroit Str Tr | Trimmed | −362,662 | −$16M | 9.7% |
| VI Vanguard Intl Equity Index F | Added | +119,565 | +$14M | 0.3% |
| KT Kraneshares Trust | Trimmed | −549,846 | −$9.75M | 1.2% |
Showing the 10 largest of 103 changes.
quarter ended September 30, 2024 · filed November 08, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Ser Tr | Added | +10,791,895 | +$317M | 8.5% |
| IT Ishares Tr | Trimmed | −5,936,841 | −$302M | — |
| FC Fidelity Covington Trust | New | +1,594,604 | +$278M | 6.0% |
| WT Wisdomtree Tr | Trimmed | −4,661,171 | −$224M | — |
| IE Invesco Exchange Traded Fd T | Trimmed | −5,168,988 | −$195M | — |
| I Ishares Inc | Added | +2,685,192 | +$164M | 9.9% |
| IT Ishares Tr | Trimmed | −1,202,837 | −$132M | 4.5% |
| FC Fidelity Covington Trust | New | +998,073 | +$88.3M | 1.9% |
| JP J P Morgan Exchange Traded F | Trimmed | −1,306,038 | −$77.4M | — |
| VI Vanguard Intl Equity Index F | Trimmed | −1,000,860 | −$71.2M | — |
Showing the 10 largest of 113 changes.
quarter ended June 30, 2024 · filed July 30, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| JD Janus Detroit Str Tr | Trimmed | −2,726,901 | −$139M | — |
| JD Janus Detroit Str Tr | New | +1,451,657 | +$71.4M | 1.6% |
| SS SPDR Ser Tr | Added | +2,076,807 | +$60M | 1.8% |
| Nvidia Corporation | Added | +459,606 | +$56.8M | 1.4% |
| JD Janus Detroit Str Tr | Trimmed | −442,809 | −$19.8M | 10.4% |
| IT Ishares Tr | Trimmed | −162,405 | −$16.7M | 7.1% |
| VI Vanguard Index Fds | Trimmed | −74,412 | −$11.9M | 5.9% |
| WT Wisdomtree Tr | Trimmed | −209,307 | −$10.5M | 5.2% |
| I Ishares Inc | Trimmed | −166,121 | −$9.83M | 6.4% |
| IT Ishares Tr | Trimmed | −200,370 | −$8.45M | 5.6% |
Showing the 10 largest of 107 changes.
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