Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (47 quarters reported)
$113M in Q4 2013 → $226M 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 |
|---|---|---|---|---|
| BM Blackrock Muniholdings Fd In | 10.9% | Unchanged | 2,066,476 | $24.6M |
| BM Blackrock Muniyild Qult Fd I | 8.4% | Unchanged | 1,632,324 | $18.9M |
| BM Blackrock Muniyield Quality | 7.9% | Unchanged | 1,619,778 | $18M |
| BM Blackrock Munihldngs Cali | 5.4% | Unchanged | 1,122,458 | $12.3M |
| EV Eaton Vance Mun Bd Fd | 4.6% | Added 0.6% | 1,041,484 | $10.4M |
| BM Blackrock Muniyield N Y Qual | 4.5% | Added 5.0% | 1,001,774 | $10.2M |
| RF Rivernorth Flexible Muni Inc | 3.9% | Unchanged | 643,727 | $8.77M |
| WA Western Asset Managed Muns F | 3.3% | Added 7.2% | 716,596 | $7.47M |
| NM Nyli Mackay Definedterm Muni | 3.1% | Added 6.1% | 458,692 | $7.11M |
| PM Putnam Mun Opportunities Tr | 3.0% | Added 12% | 645,263 | $6.8M |
| PM Pimco Mun Income Fd Ii | 2.9% | Added 68% | 856,682 | $6.52M |
| VE Vaneck ETF Trust | 2.8% | New | 121,212 | $6.25M |
| MM Mfs Mun Income Tr | 2.7% | Added 501% | 1,076,957 | $6.05M |
| RM Rivernorth Managed Dur Mun I | 2.7% | Trimmed 5.1% | 409,360 | $6.05M |
| IE Invesco Exch Traded Fd Tr Ii | 2.5% | New | 244,351 | $5.74M |
| PC Pimco Calif Mun Income Fd | 2.5% | Added 8.5% | 637,256 | $5.72M |
| BM Bny Mellon Strategic Muns In | 2.5% | Unchanged | 877,072 | $5.67M |
| NM Neuberger Mun Fd Inc | 2.4% | Added 20% | 512,302 | $5.4M |
| IT Ishares Tr | 1.7% | New | 35,000 | $3.77M |
| PN Pimco New York Mun Fd Ii | 1.4% | Added 36% | 389,726 | $3.09M |
| AN Alliancebernstein Natl Mun I | 1.3% | Unchanged | 265,460 | $3.03M |
| RM Rivernorth Managed Dur Mun I | 1.3% | Unchanged | 195,309 | $2.94M |
| BM Bny Mellon Strategic Mun Bd | 1.3% | Added 9.8% | 467,193 | $2.88M |
| PM Putnam Managed Mun Income Tr | 1.2% | Added 34% | 423,151 | $2.77M |
| RF Rivernorth Flexible Mun Inco | 1.0% | Unchanged | 154,999 | $2.29M |
| FH Federated Hermes Prem Muni I | 1.0% | Unchanged | 195,329 | $2.24M |
| RO Rivernorth Opportunistic Mun | 1.0% | Trimmed 6.0% | 143,791 | $2.23M |
| BM Blackrock Muniassets Fd Inc | 0.9% | Added 42% | 183,406 | $2.01M |
| EV Eaton Vance Natl Mun Opport | 0.9% | Added 49% | 108,458 | $1.99M |
| BM Blackrock Muniyield Mich Qu | 0.8% | Trimmed 59% | 156,521 | $1.92M |
| NN Nuveen Ny Amt Free | 0.8% | Trimmed 60% | 169,189 | $1.81M |
| WA Western Asset Inter Muni | 0.8% | Unchanged | 227,014 | $1.79M |
| AN Abrdn Natl Mun Income Fd | 0.6% | Added 116% | 122,991 | $1.4M |
| BM Blackrock Munihldgs Nj Qlty | 0.5% | Trimmed 75% | 94,038 | $1.16M |
| BM Bny Mellon Mun Bd Infrastruc | 0.4% | Unchanged | 68,229 | $809K |
| IM Invesco Mun Opportunit Tr | 0.3% | Trimmed 90% | 76,465 | $755K |
| F& Flaherty & Crumrine Pfd Inco | 0.3% | Unchanged | 55,073 | $640K |
| FC Fs Credit Opportunities Corp | 0.3% | Unchanged | 120,750 | $603K |
| FS Fs Specialty Lending Fd | 0.3% | Unchanged | 53,416 | $596K |
| DY Doubleline Yield Opportuniti | 0.3% | Unchanged | 42,032 | $591K |
| WA Western Asset Gbl High Inc F | 0.3% | Unchanged | 98,930 | $590K |
| KI Kkr Income Opportunities Fd | 0.3% | Unchanged | 52,154 | $587K |
| WA Western Asset High Incom Fd | 0.3% | Unchanged | 147,805 | $585K |
| BM Blackrock Multi Sector Inc T | 0.3% | Unchanged | 46,524 | $582K |
| WA Western Ast Infl Lkd Opp & I | 0.3% | Unchanged | 68,910 | $579K |
| WA Western Asset Mtg Defined Op | 0.3% | Unchanged | 53,687 | $575K |
| NF Nuveen Floating Rate Income | 0.3% | Unchanged | 73,895 | $567K |
| CS Credit Suisse High Yield Cre | 0.2% | Trimmed 91% | 294,611 | $524K |
| XO Xai Octagn Flt Rat & Alt Inm | 0.2% | New | 28,500 | $500K |
| IS Invesco Sr Income Tr | 0.2% | Added 70% | 165,152 | $495K |
| VI Vanguard Intl Equity Index F | 0.2% | New | 2,970 | $466K |
| HJ Hancock John Invt Tr Ii | 0.2% | Unchanged | 28,109 | $374K |
| Charlton Aria Acquisition Co | 0.1% | Added 105% | 29,716 | $321K |
| NS Newbury Str Ii Acquisition C | 0.1% | Added 79% | 27,250 | $290K |
| Mckinley Acquisition Corp | 0.1% | Unchanged | 27,000 | $274K |
| AT Apex Treas Corp | 0.1% | Added 125% | 27,000 | $271K |
| PR Principal Real Estate Income | 0.1% | Unchanged | 26,088 | $268K |
| BR Brookfield Real Assets Incom | 0.1% | Trimmed 4.8% | 19,952 | $257K |
| WA Western Asset Inflt Lnk Inc | 0.1% | Unchanged | 31,111 | $253K |
| DM Drugs Made In Amer Acq Ii Co | 0.1% | Added 150% | 25,000 | $252K |
Showing top 60 of 100 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IE Invesco Exch Traded Fd Tr Ii | Exited | −344,351 | −$8.01M | — |
| IM Invesco Mun Opportunit Tr | Trimmed | −682,306 | −$6.73M | 0.3% |
| VE Vaneck ETF Trust | New | +121,212 | +$6.25M | 2.8% |
| VE Vaneck ETF Trust | Exited | −121,212 | −$6.18M | — |
| IE Invesco Exch Traded Fd Tr Ii | New | +244,351 | +$5.74M | 2.5% |
| CS Credit Suisse High Yield Cre | Trimmed | −2,849,300 | −$5.07M | 0.2% |
| MM Mfs Mun Income Tr | Added | +897,784 | +$5.05M | 2.7% |
| IT Ishares Tr | New | +35,000 | +$3.77M | 1.7% |
| BM Blackrock Munihldgs Nj Qlty | Trimmed | −277,294 | −$3.41M | 0.5% |
| NM Nuveen Mun High Income Oppor | Exited | −332,674 | −$3.39M | — |
Showing the 10 largest of 103 changes.
quarter ended March 31, 2026 · filed May 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BM Blackrock Muniholdings Fd In | Added | +1,786,591 | +$20.9M | 10.1% |
| IT Invesco Tr Invt Grade Muns | Exited | −1,168,261 | −$12.1M | — |
| BM Blackrock Muniyild Qult Fd I | Added | +1,064,012 | +$12M | 7.7% |
| BM Blackrock Muniyield Quality | Added | +1,095,393 | +$11.8M | 7.3% |
| BM Blackrock Mun Income Tr | Exited | −1,038,657 | −$10.4M | — |
| BM Blackrock Munihldngs Cali | Added | +868,424 | +$9.37M | 5.1% |
| BM Blackrock Muni Income Tr Ii | Exited | −823,485 | −$8.6M | — |
| BM Blackrock Muniyield N Y Qual | Added | +835,630 | +$8.34M | 4.0% |
| IE Invesco Exch Traded Fd Tr Ii | New | +344,351 | +$8.01M | 3.4% |
| BC Blackrock Calif Mun Income T | Exited | −555,262 | −$5.97M | — |
Showing the 10 largest of 102 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IE Invesco Exch Traded Fd Tr Ii | Exited | −550,000 | −$12.7M | — |
| IT Ishares Tr | Exited | −109,400 | −$11.7M | — |
| VM Vanguard Mun Bd Fds | Exited | −230,000 | −$11.5M | — |
| EV Eaton Vance Mun Bd Fd | New | +676,797 | +$6.58M | 2.7% |
| BM Blackrock Muniyild Qult Fd I | New | +568,312 | +$6.42M | 2.6% |
| SS SPDR Series Trust | Exited | −135,464 | −$6.17M | — |
| BC Blackrock Calif Mun Income T | New | +555,262 | +$5.97M | 2.4% |
| NM Nyli Mackay Definedterm Muni | New | +379,555 | +$5.64M | 2.3% |
| BM Bny Mellon Strategic Muns In | New | +846,916 | +$5.39M | 2.2% |
| BN Blackrock N Y Mun Income Tru | New | +392,164 | +$3.98M | 1.6% |
Showing the 10 largest of 85 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IE Invesco Exch Traded Fd Tr Ii | New | +550,000 | +$12.7M | 6.7% |
| IT Ishares Tr | New | +109,400 | +$11.7M | 6.2% |
| VM Vanguard Mun Bd Fds | New | +230,000 | +$11.5M | 6.1% |
| VE Vaneck ETF Trust | New | +123,142 | +$6.27M | 3.3% |
| SS SPDR Series Trust | New | +135,464 | +$6.17M | 3.3% |
| IA Invesco Advantage Mun Income | Trimmed | −688,413 | −$6.04M | 2.2% |
| IM Invesco Mun Opportunity Tr | Trimmed | −618,981 | −$5.99M | 5.7% |
| BM Blackrock Munihldngs Cali Ql | Trimmed | −504,630 | −$5.48M | 1.5% |
| NA Nuveen Amt Free Mun Cr Inc F | Exited | −440,998 | −$5.26M | — |
| Invesco Municipal Trust | Trimmed | −512,031 | −$4.94M | 3.2% |
Showing the 10 largest of 86 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NC Nuveen Ca Qualty Mun Income | Trimmed | −655,189 | −$7.32M | 0.6% |
| NQ Nuveen Quality Muncp Income | Trimmed | −369,646 | −$4.17M | 2.7% |
| NA Nuveen Amt Free Mun Cr Inc F | Trimmed | −308,591 | −$3.68M | 2.2% |
| NN Nuveen New Jersey Qult Mun F | Added | +281,006 | +$3.19M | 2.1% |
| RM Rivernorth Managed Dur Mun I | Added | +193,943 | +$2.6M | 2.4% |
| IV Invesco Value Mun Income Tr | Trimmed | −194,418 | −$2.26M | 2.4% |
| RF Rivernorth Flexible Muni Inc | Added | +162,177 | +$2.05M | 1.5% |
| IT Invesco Tr Invt Grade Muns | Trimmed | −207,688 | −$1.97M | 4.7% |
| BM Blackrock Munivest Fd Inc | Trimmed | −283,901 | −$1.87M | 1.5% |
| PC Pimco Calif Mun Income Fd | New | +188,997 | +$1.62M | 0.7% |
Showing the 10 largest of 79 changes.
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NA Nuveen Amt Free Qlty Mun Inc | Trimmed | −569,411 | −$6.38M | 1.3% |
| NM Nuveen Municipal Credit Inc | Trimmed | −416,856 | −$5.1M | 1.4% |
| EV Eaton Vance Muni Income Trus | Exited | −402,506 | −$4.07M | — |
| RM Rivernorth Managed Dur Mun I | Added | +163,942 | +$2.35M | 1.3% |
| BM Blackrock Muniyield Fd Inc | Added | +214,964 | +$2.27M | 1.0% |
| IP Invesco Pa Value Mun Inc Tr | Added | +216,300 | +$2.2M | 1.6% |
| BM Blackrock Muniyild Qult Fd I | New | +183,299 | +$2.15M | 0.9% |
| IT Invesco Tr Invt Grade New Yo | Added | +182,861 | +$1.91M | 1.2% |
| PM Putnam Managed Mun Income Tr | Exited | −316,401 | −$1.89M | — |
| BM Blackrock Mun Income Quality | Added | +167,783 | +$1.81M | 1.4% |
Showing the 10 largest of 111 changes.
quarter ended December 31, 2024 · filed January 31, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NM Nuveen Municipal Credit Inc | Trimmed | −553,839 | −$6.74M | 3.4% |
| IM Invesco Mun Opportunity Tr | Added | +519,405 | +$5.05M | 6.7% |
| NA Nuveen Amt Free Mun Cr Inc F | Trimmed | −384,004 | −$4.71M | 3.9% |
| IT Invesco Tr Invt Grade Muns | Added | +425,602 | +$4.3M | 5.6% |
| NM Nuveen Mun Cr Opportunities | Trimmed | −377,498 | −$4.01M | 1.0% |
| NQ Nuveen Quality Muncp Income | Trimmed | −318,752 | −$3.72M | 4.8% |
| NA Nuveen Amt Free Qlty Mun Inc | Trimmed | −301,630 | −$3.4M | 3.9% |
| Invesco Municipal Trust | Added | +304,331 | +$2.99M | 4.5% |
| NN Nuveen New York Amt Qlt Muni | Added | +231,963 | +$2.43M | 1.8% |
| NC Nuveen Ca Qualty Mun Income | Added | +204,350 | +$2.31M | 3.7% |
Showing the 10 largest of 223 changes.
quarter ended September 30, 2024 · filed November 07, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| PM Putnam Mun Opportunities Tr | Exited | −708,829 | −$7.23M | — |
| IM Invesco Municipal Opport | Added | +448,713 | +$4.64M | 4.2% |
| NM Nuveen Mun High Income Oppor | Exited | −421,344 | −$4.57M | — |
| BM Blackrock Municipal Income | Exited | −264,864 | −$3.26M | — |
| IT Invesco Trust For Investmen | Added | +289,809 | +$3.08M | 3.5% |
| Invesco Municipal Trust | Added | +228,637 | +$2.36M | 3.0% |
| IQ Invesco Quality Muni Inc Tr | Added | +217,296 | +$2.29M | 2.5% |
| NN Nuveen Ny Amt-fr Muni Inc | New | +201,004 | +$2.26M | 0.8% |
| IA Invesco Adv Muni Inc Tr Ii | Added | +233,532 | +$2.19M | 3.6% |
| BI Blackrock Invest Qlty Muni | Trimmed | −152,285 | −$1.96M | 0.3% |
Showing the 10 largest of 177 changes.
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