Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (54 quarters reported)
$171M in Q2 2013 → $772M now. Hover for any quarter.
As reported for the quarter ended September 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 | 14.7% | Trimmed 0.6% | 148,999 | $114M |
| IT Ishares Tr | 11.1% | Added 0.7% | 111,597 | $85.5M |
| IT Ishares Tr | 10.0% | Added 1.5% | 677,300 | $76.8M |
| IT Ishares Tr | 7.7% | Added 0.2% | 359,810 | $59.8M |
| IT Ishares Tr | 7.4% | Trimmed 0.0% | 249,800 | $57M |
| SS Select Sector SPDR Tr | 5.9% | Trimmed 0.6% | 232,537 | $45.5M |
| IG Ishares Gold Tr | 5.7% | Added 1.4% | 562,805 | $44M |
| SS SPDR Series Trust | 4.8% | Added 1.8% | 1,263,258 | $37.4M |
| IT Ishares Tr | 4.1% | Trimmed 37% | 251,454 | $31.5M |
| VW Vanguard Whitehall Fds | 3.3% | Added 0.3% | 254,304 | $25.7M |
| VS Vanguard Scottsdale Fds | 3.2% | Added 0.8% | 434,130 | $25M |
| IT Ishares Tr | 3.0% | Trimmed 1.2% | 104,596 | $23.2M |
| IT Ishares Tr | 3.0% | Added 0.3% | 236,331 | $22.9M |
| IT Ishares Tr | 2.7% | Added 0.4% | 216,858 | $20.6M |
| SS Select Sector SPDR Tr | 2.5% | Added 0.1% | 114,865 | $19.2M |
| IE Invesco Exchange Traded Fd T | 2.4% | New | 88,385 | $18.4M |
| FC Fidelity Covington Trust | 2.2% | Added 0.8% | 226,066 | $17.1M |
| IT Ishares Tr | 1.8% | Added 0.5% | 155,293 | $13.9M |
| IT Ishares Tr | 1.1% | Trimmed 0.8% | 56,749 | $8.3M |
| VI Vanguard Index Fds | 1.0% | Trimmed 0.5% | 19,874 | $7.44M |
| IT Ishares Tr | 0.5% | Trimmed 5.2% | 37,540 | $3.66M |
| VW Vanguard World Fd | 0.4% | Trimmed 6.6% | 22,310 | $3.02M |
| Apple Inc | 0.3% | Trimmed 8.0% | 6,823 | $2.27M |
| NE Nushares ETF Tr | 0.3% | Trimmed 9.2% | 40,545 | $2.13M |
| IT Ishares Tr | 0.2% | Added 1.8% | 77,265 | $1.89M |
| IT Ishares Tr | 0.2% | Trimmed 11% | 11,060 | $1.84M |
| VW Vanguard World Fd | 0.1% | Added 0.1% | 13,473 | $1.09M |
| VW Vanguard World Fd | 0.1% | Unchanged | 4,454 | $560K |
| IQ Invesco Qqq Tr | 0.1% | Trimmed 3.5% | 626 | $463K |
| Microsoft Corp | 0.0% | Trimmed 27% | 696 | $357K |
| FC Fidelity Covington Trust | 0.0% | Trimmed 2.9% | 1,155 | $347K |
| EL Eli Lilly & Co | 0.0% | Unchanged | 263 | $304K |
| Johnson & Johnson | 0.0% | Unchanged | 1,073 | $284K |
| IT Ishares Tr | 0.0% | Trimmed 37% | 1,943 | $276K |
| Coca Cola Co | 0.0% | Unchanged | 3,020 | $260K |
| Phillips 66 | 0.0% | New | 1,017 | $260K |
| IT Ishares Tr | 0.0% | Unchanged | 2,320 | $241K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 29, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −149,006 | −$18.7M | 4.1% |
| IE Invesco Exchange Traded Fd T | New | +88,385 | +$18.4M | 2.4% |
| IT Ishares Tr | Added | +10,130 | +$1.15M | 10.0% |
| SS State Str SPDR S&P 500 ETF T | Trimmed | −940 | −$717K | 14.7% |
| SS SPDR Series Trust | Added | +22,502 | +$666K | 4.8% |
| IT Ishares Tr | Added | +787 | +$603K | 11.1% |
| IG Ishares Gold Tr | Added | +7,627 | +$596K | 5.7% |
| IT Ishares Tr | Trimmed | −1,254 | −$279K | 3.0% |
| Caterpillar Inc | Exited | −254 | −$270K | — |
| SS Select Sector SPDR Tr | Trimmed | −1,331 | −$261K | 5.9% |
Showing the 10 largest of 33 changes.
quarter ended June 30, 2026 · filed July 08, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +302,195 | +$37.5M | 6.5% |
| IT Ishares Tr | Added | +27,780 | +$3.26M | 10.2% |
| IT Ishares Tr | Added | +3,793 | +$2.84M | 10.8% |
| IG Ishares Gold Tr | Added | +20,630 | +$1.56M | 5.5% |
| SS SPDR Series Trust | Added | +45,537 | +$1.37M | 4.9% |
| IT Ishares Tr | Added | +4,842 | +$1.1M | 7.4% |
| IT Ishares Tr | Added | +5,730 | +$941K | 7.7% |
| VS Vanguard Scottsdale Fds | Added | +9,409 | +$548K | 3.3% |
| VW Vanguard World Fd | Added | +4,158 | +$497K | 0.1% |
| SS Select Sector SPDR Tr | Added | +2,468 | +$470K | 5.8% |
Showing the 10 largest of 35 changes.
quarter ended March 31, 2026 · filed April 23, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Exited | −198,740 | −$21.9M | — |
| IT Ishares Tr | Added | +24,547 | +$2.91M | 11.0% |
| SS SPDR Series Trust | Added | +67,107 | +$2.02M | 5.2% |
| SS State Str SPDR S&P 500 ETF T | Trimmed | −2,940 | −$1.91M | 14.2% |
| IT Ishares Tr | Added | +1,653 | +$1.08M | 10.2% |
| IT Ishares Tr | Added | +3,286 | +$694K | 7.5% |
| IT Ishares Tr | Trimmed | −2,787 | −$535K | 2.9% |
| VS Vanguard Scottsdale Fds | Trimmed | −7,916 | −$463K | 3.6% |
| IT Ishares Tr | Added | +4,704 | +$426K | 3.1% |
| IT Ishares Tr | Trimmed | −2,043 | −$291K | 7.3% |
Showing the 10 largest of 33 changes.
quarter ended December 31, 2025 · filed January 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Select Sector SPDR Tr | Added | +115,630 | +$16.6M | 4.6% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −4,458 | −$3.04M | 14.5% |
| IT Ishares Tr | Added | +4,348 | +$2.98M | 10.0% |
| IT Ishares Tr | Added | +20,002 | +$2.39M | 10.1% |
| SS SPDR Series Trust | Added | +44,650 | +$1.35M | 4.7% |
| VS Vanguard Scottsdale Fds | Added | +15,275 | +$897K | 3.5% |
| IT Ishares Tr | Added | +7,892 | +$869K | 3.0% |
| IT Ishares Tr | Added | +3,784 | +$802K | 7.1% |
| IT Ishares Tr | Added | +5,126 | +$762K | 7.3% |
| IT Ishares Tr | Added | +1,388 | +$657K | 6.4% |
Showing the 10 largest of 32 changes.
quarter ended September 30, 2025 · filed December 02, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +2,578 | +$1.73M | 9.7% |
| IT Ishares Tr | Added | +10,210 | +$1.22M | 10.2% |
| IT Ishares Tr | Added | +3,811 | +$787K | 7.1% |
| IT Ishares Tr | Added | +5,252 | +$765K | 7.3% |
| SS SPDR Series Trust | Added | +23,436 | +$710K | 4.7% |
| VS Vanguard Scottsdale Fds | Added | +11,911 | +$701K | 3.5% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −824 | −$549K | 15.1% |
| IT Ishares Tr | Added | +1,162 | +$544K | 6.5% |
| IT Ishares Tr | Added | +4,297 | +$475K | 3.0% |
| VW Vanguard Whitehall Fds | Added | +3,792 | +$321K | 3.0% |
Showing the 10 largest of 31 changes.
quarter ended June 30, 2025 · filed July 25, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Trimmed | −1,898 | −$1.17M | 15.1% |
| VW Vanguard World Fd | Added | +7,520 | +$824K | 0.4% |
| SS SPDR Series Trust | Added | +23,409 | +$707K | 4.9% |
| IT Ishares Tr | Added | +922 | +$572K | 9.4% |
| VS Vanguard Scottsdale Fds | Added | +9,454 | +$556K | 3.6% |
| IT Ishares Tr | Trimmed | −4,220 | −$490K | 1.1% |
| IT Ishares Tr | Added | +3,656 | +$435K | 10.7% |
| IT Ishares Tr | Added | +1,952 | +$381K | 7.1% |
| IG Ishares Gold Tr | Trimmed | −5,847 | −$365K | 5.1% |
| IT Ishares Tr | Added | +2,659 | +$359K | 7.2% |
Showing the 10 largest of 31 changes.
quarter ended March 31, 2025 · filed April 21, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Trimmed | −2,567 | −$1.44M | 15.0% |
| IT Ishares Tr | Trimmed | −1,560 | −$877K | 9.1% |
| IG Ishares Gold Tr | Trimmed | −11,535 | −$680K | 5.2% |
| IT Ishares Tr | Trimmed | −5,336 | −$651K | 7.0% |
| IT Ishares Tr | Trimmed | −3,109 | −$593K | 7.4% |
| IT Ishares Tr | Trimmed | −3,470 | −$410K | 11.4% |
| SS Select Sector SPDR Tr | Trimmed | −1,892 | −$391K | 3.9% |
| IT Ishares Tr | Trimmed | −946 | −$342K | 5.7% |
| IT Ishares Tr | Trimmed | −4,214 | −$319K | 2.9% |
| SS Select Sector SPDR Tr | Trimmed | −2,266 | −$297K | 2.4% |
Showing the 10 largest of 30 changes.
quarter ended December 31, 2024 · filed January 23, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +187,607 | +$21.7M | 11.0% |
| VW Vanguard World Fd | Exited | −56,240 | −$15.9M | — |
| FC Fidelity Covington Trust | New | +205,290 | +$14.1M | 2.3% |
| IT Ishares Tr | Added | +33,078 | +$13.3M | 6.2% |
| IT Ishares Tr | Trimmed | −169,012 | −$11.9M | 2.6% |
| IT Ishares Tr | Trimmed | −118,675 | −$11M | 2.2% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −3,220 | −$1.89M | 15.6% |
| IT Ishares Tr | Added | +2,316 | +$1.36M | 9.5% |
| SS SPDR Ser Tr | Added | +34,818 | +$1.04M | 5.0% |
| IT Ishares Tr | Added | +2,896 | +$553K | 7.3% |
Showing the 10 largest of 32 changes.
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