Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (54 quarters reported)
$9.62B in Q1 2013 → $2.26B 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 |
|---|---|---|---|---|
| SA Ssga Active Tr | 32.9% | Unchanged | 29,455,888 | $742M |
| MS Morgan Stanley ETF Trust | 32.3% | Unchanged | 15,008,187 | $728M |
| IE Invesco Exchange Traded Fd T | 27.9% | Trimmed 46% | 2,953,696 | $628M |
| TT Tidal Trust Iii | 5.4% | Unchanged | 4,880,320 | $121M |
| SS State Str SPDR S&P 500 ETF T | 1.3% | Unchanged | 40,540 | $30.3M |
| DR Digital Rlty Tr Inc | 0.1% | New | 15,000 | $2.69M |
| Vishay Intertechnology Inc | 0.0% | New | 18,196 | $979K |
| Legend Biotech Corp | 0.0% | New | 23,229 | $671K |
| TP Torm PLC | 0.0% | New | 24,152 | $629K |
| Arxis Inc | 0.0% | New | 10,000 | $461K |
| Madison Air Solutions Corp | 0.0% | New | 10,000 | $390K |
| Aevex Corp | 0.0% | New | 10,000 | $209K |
| Acadian Asset Management Inc | 0.0% | New | 2,874 | $206K |
| Hawkeye 360 Inc | 0.0% | New | 10,000 | $202K |
| HH Hmh Hldg Inc | 0.0% | New | 10,000 | $187K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed July 23, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IE Invesco Exchange Traded Fd T | Trimmed | −2,516,200 | −$535M | 27.9% |
| SS SPDR Series Trust | Exited | −521,398 | −$30.9M | — |
| SS SPDR Series Trust | Exited | −312,500 | −$15.1M | — |
| DR Digital Rlty Tr Inc | New | +15,000 | +$2.69M | 0.1% |
| Vishay Intertechnology Inc | New | +18,196 | +$979K | — |
| Forgent Power Solutions Inc | Exited | −30,000 | −$878K | — |
| Solv Energy Inc | Exited | −25,000 | −$751K | — |
| Legend Biotech Corp | New | +23,229 | +$671K | — |
| TP Torm PLC | New | +24,152 | +$629K | — |
| Equipmentshare Com Inc | Exited | −25,000 | −$509K | — |
Showing the 10 largest of 17 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SA Ssga Active Tr | New | +29,455,888 | +$743M | 27.5% |
| SS SPDR Series Trust | Trimmed | −2,472,885 | −$146M | 1.1% |
| SS SPDR Series Trust | Trimmed | −1,498,103 | −$72.4M | 0.6% |
| SS State Str SPDR S&P 500 ETF T | Added | +4,500 | +$2.93M | 1.0% |
| Forgent Power Solutions Inc | New | +30,000 | +$878K | — |
| Solv Energy Inc | New | +25,000 | +$751K | — |
| Equipmentshare Com Inc | New | +25,000 | +$509K | — |
| BD Bobs Disc Furniture Inc | New | +25,000 | +$294K | — |
| VS Vanguard Scottsdale Fds | Exited | −2,621 | −$261K | — |
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IE Invesco Exchange Traded Fd T | Trimmed | −3,720,595 | −$713M | 47.9% |
| MS Morgan Stanley ETF Trust | Trimmed | −4,037,483 | −$200M | 34.0% |
| TT Tidal Trust Iii | Added | +703,286 | +$16.2M | 5.1% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −9,312 | −$6.35M | 1.1% |
| SS SPDR Series Trust | Added | +12,240 | +$709K | 7.9% |
| SS SPDR Series Trust | Added | +6,486 | +$304K | 3.9% |
| VS Vanguard Scottsdale Fds | Trimmed | −20 | −$1.99K | — |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VS Vanguard Scottsdale Fds | Trimmed | −179,327 | −$17.5M | — |
| SS SPDR Series Trust | Added | +368,628 | +$17.1M | 2.7% |
| TT Tidal Trust Iii | Added | +729,713 | +$16.5M | 3.1% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −23,435 | −$15.6M | 1.0% |
| Nebius Group Nv | Exited | −86,378 | −$864 | — |
quarter ended June 30, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Added | +67,957 | +$42M | 1.4% |
| TT Tidal Trust Iii | Added | +735,329 | +$15.7M | 2.5% |
| IE Invesco Exchange Traded Fd T | Added | +8,673 | +$1.58M | 56.1% |
| SS SPDR Series Trust | Added | +7,791 | +$424K | 5.5% |
quarter ended March 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MS Morgan Stanley ETF Trust | New | +19,045,670 | +$942M | 33.5% |
| IE Invesco Exchange Traded Fd T | Added | +1,019,369 | +$177M | 56.6% |
| TT Tidal Trust Iii | New | +2,711,992 | +$51.9M | 1.8% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −52,364 | −$29.3M | — |
| VS Vanguard Scottsdale Fds | Added | +2,641 | +$213K | 0.5% |
| Nebius Group Nv | New | +86,378 | +$864 | — |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IE Invesco Exchange Traded Fd T | Added | +6,211,920 | +$1.09B | 83.9% |
| VS Vanguard Scottsdale Fds | Trimmed | −1,674,299 | −$150M | 0.9% |
| SS SPDR Ser Tr | Added | +1,979,981 | +$108M | 9.5% |
| SS SPDR Ser Tr | Added | +946,554 | +$42.5M | 3.8% |
| SS SPDR S&P 500 ETF Tr | Added | +43,723 | +$25.6M | 1.8% |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MS Morgan Stanley ETF Trust | Exited | −14,049,833 | −$706M | — |
| IE Invesco Exchange Traded Fd T | New | +1,950,529 | +$349M | 58.5% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −439,921 | −$252M | 0.9% |
| VS Vanguard Scottsdale Fds | New | +1,853,626 | +$166M | 27.7% |
| SS SPDR Ser Tr | New | +994,271 | +$54.4M | 9.1% |
| SS SPDR Ser Tr | New | +488,935 | +$22.3M | 3.7% |
| YN Yandex N V | Exited | −86,378 | −$864 | — |
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