Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (55 quarters reported)
$1.16B in Q4 2012 → $5.31B 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 Call | 5.4% | Trimmed 26% | 384,200 | $287M |
| SS State Str SPDR S&P 500 ETF T Put | 4.3% | Trimmed 7.3% | 304,200 | $227M |
| IQ Invesco Qqq Tr Call | 2.0% | Trimmed 66% | 145,500 | $107M |
| AH Asml Hldg Nv Put | 1.0% | Added 123% | 26,500 | $52.7M |
| IT Ishares Tr Call | 1.0% | Trimmed 31% | 170,200 | $51.1M |
| TD Toronto Dominion Bk Ont Call | 0.8% | Added 52% | 370,100 | $44.9M |
| Microsoft Corp Put | 0.8% | Added 32% | 118,100 | $44.1M |
| Arm Holdings PLC Put | 0.8% | Trimmed 34% | 113,800 | $40.4M |
| SS Select Sector SPDR Tr Put | 0.7% | Added 2278% | 732,300 | $38.9M |
| Amazon Com Inc Put | 0.7% | Added 400% | 163,100 | $38.9M |
| Alphabet Inc Put | 0.7% | Added 317% | 108,000 | $38.6M |
| Apple Inc Call | 0.7% | Trimmed 5.9% | 131,400 | $38M |
| CS Cisco Sys Inc Call | 0.7% | Trimmed 62% | 309,700 | $36.4M |
| VE Vaneck ETF Trust Call | 0.7% | New | 55,300 | $36.3M |
| Costco Wholesale Corporation Put | 0.6% | Added 79% | 35,400 | $33.1M |
| IB International Business Machs Put | 0.6% | Added 175% | 117,500 | $33M |
| Caterpillar Inc Put | 0.6% | Added 581% | 29,300 | $31.2M |
| IS Ishares Silver Tr Put | 0.6% | Added 7.6% | 555,500 | $29.7M |
| Micron Technology Inc Put | 0.6% | Trimmed 62% | 25,500 | $29.4M |
| AT&T Inc Call | 0.5% | Added 3910% | 1,395,400 | $28.9M |
| SG SPDR Gold Tr Put | 0.5% | Trimmed 59% | 73,300 | $27M |
| SG SPDR Gold Tr Call | 0.5% | Added 84% | 66,200 | $24.4M |
| Boeing Co Put | 0.5% | Added 2683% | 111,300 | $24.1M |
| Netflix Inc. Put | 0.4% | Added 183% | 330,400 | $23.6M |
| Broadcom Inc Put | 0.4% | Added 21% | 61,900 | $23.4M |
| UP United Parcel Svcs Inc Put | 0.4% | Added 1012% | 215,700 | $23.2M |
| Oracle Corp Put | 0.4% | Trimmed 9.8% | 156,600 | $22.9M |
| VE Vaneck ETF Trust Put | 0.4% | Trimmed 16% | 288,200 | $21.7M |
| Nvidia Corporation Put | 0.4% | Added 102% | 98,300 | $19.7M |
| IG Ishares Gold Tr Call | 0.4% | Added 355% | 258,800 | $19.5M |
| IS Ishares Silver Tr Call | 0.4% | Trimmed 43% | 365,400 | $19.5M |
| IG Ishares Gold Tr Put | 0.4% | Trimmed 46% | 257,700 | $19.5M |
| BM Bank Montreal Medium Put | 0.4% | Trimmed 11% | 110,100 | $19.5M |
| Altria Group Inc Put | 0.4% | Added 111% | 268,500 | $19.3M |
| Bristol-myers Squibb Co Call | 0.4% | Added 239% | 329,900 | $19M |
| Carnival Corp Ltd Call | 0.4% | New | 662,400 | $18.9M |
| BH Berkshire Hathaway Inc Del Put | 0.4% | Trimmed 42% | 37,200 | $18.6M |
| IT Ishares Tr Put | 0.3% | Added 776% | 203,200 | $18.4M |
| Mettler Toledo International Call | 0.3% | New | 14,400 | $18.4M |
| Tesla Inc Put | 0.3% | Added 21% | 43,400 | $18.3M |
| Pfizer Inc Put | 0.3% | Added 162% | 750,300 | $18.1M |
| RS Republic Svcs Inc Put | 0.3% | New | 82,700 | $17.6M |
| Astera Labs Inc Put | 0.3% | Trimmed 40% | 36,400 | $17.6M |
| Dell Technologies Inc Put | 0.3% | Trimmed 41% | 40,500 | $17.5M |
| Welltower Inc Call | 0.3% | New | 76,800 | $17.4M |
| Salesforce Inc Put | 0.3% | New | 110,900 | $17.4M |
| Newmont Corp Put | 0.3% | Added 2313% | 185,800 | $17.4M |
| Vertiv Holdings Co Put | 0.3% | Added 57% | 49,800 | $16.7M |
| Pfizer Inc Call | 0.3% | Added 55% | 681,500 | $16.4M |
| Cvs Health Corp Call | 0.3% | Trimmed 10% | 158,000 | $16.3M |
| VS Vanguard Star Fds Call | 0.3% | New | 185,100 | $15.8M |
| Microsoft Corp | 0.3% | Added 82% | 42,101 | $15.7M |
| Kroger Co Put | 0.3% | Added 48% | 274,600 | $15.2M |
| Chipotle Mexican Grill Inc Put | 0.3% | Added 102% | 446,800 | $15.2M |
| Dell Technologies Inc Call | 0.3% | Trimmed 55% | 34,500 | $14.9M |
| Mckesson Corp Call | 0.3% | Added 208% | 19,700 | $14.9M |
| Markel Group Inc Call | 0.3% | Trimmed 28% | 7,600 | $14.8M |
| IG Ishares Gold Tr | 0.3% | Added 56% | 194,746 | $14.7M |
| Burlington Stores Inc Put | 0.3% | New | 46,100 | $14.6M |
| Meta Platforms Inc Put | 0.3% | Added 70% | 25,800 | $14.5M |
Showing top 60 of 1357 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 |
|---|---|---|---|---|
| IQ Invesco Qqq Tr | Trimmed | −282,200 | −$208M | 2.0% |
| SS State Str SPDR S&P 500 ETF T | Trimmed | −137,700 | −$103M | 5.4% |
| CS Cisco Sys Inc | Trimmed | −509,000 | −$59.8M | 0.7% |
| Micron Technology Inc | Trimmed | −41,400 | −$47.8M | 0.6% |
| Amazon Com Inc | Trimmed | −179,300 | −$42.7M | 0.2% |
| Nvidia Corp | Exited | −237,100 | −$41.4M | — |
| SG SPDR Gold Tr | Trimmed | −106,500 | −$39.2M | 0.5% |
| IQ Invesco Qqq Trust Series 1 | Exited | −65,300 | −$37.7M | — |
| SS Select Sector SPDR Tr | Added | +701,500 | +$37.3M | 0.7% |
| CS Cisco Sys Inc | Trimmed | −315,500 | −$37.1M | — |
Showing the 10 largest of 1705 changes.
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SG SPDR Gold Trust | Trimmed | −1,538,400 | −$662M | 1.6% |
| IQ Invesco Qqq Trust Series 1 | Added | +395,200 | +$228M | 5.2% |
| IG Ishares Gold Trust | Trimmed | −1,907,000 | −$168M | 0.9% |
| SS SPDR S&P 500 ETF Trust | Trimmed | −220,300 | −$143M | 7.1% |
| Micron Technology Inc. | Trimmed | −386,200 | −$130M | 0.5% |
| Applied Materials Inc. | Trimmed | −301,800 | −$103M | — |
| Amgen Inc. | Trimmed | −288,500 | −$102M | 0.1% |
| SS SPDR S&P 500 ETF Trust | Trimmed | −124,900 | −$81.2M | 4.5% |
| Alphabet Inc | Trimmed | −270,500 | −$77.8M | — |
| United Parcel Service, Inc. | Trimmed | −763,500 | −$75.1M | 0.1% |
Showing the 10 largest of 1789 changes.
quarter ended December 31, 2025 · filed February 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SG SPDR Gold Tr | Trimmed | −2,423,600 | −$960M | 5.9% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −1,378,100 | −$940M | 4.4% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −820,400 | −$559M | 2.7% |
| IG Ishares Gold Tr | Trimmed | −5,804,100 | −$471M | 1.7% |
| Apple Inc | Trimmed | −1,041,200 | −$283M | 0.5% |
| Micron Technology Inc | Trimmed | −891,400 | −$254M | 1.1% |
| IS Ishares Silver Tr | Trimmed | −3,504,800 | −$226M | 0.2% |
| Advanced Micro Devices Inc | Trimmed | −970,800 | −$208M | 0.5% |
| SS Select Sector SPDR Tr | Trimmed | −1,003,200 | −$155M | 0.2% |
| Tesla Inc | Trimmed | −337,900 | −$152M | 0.5% |
Showing the 10 largest of 1722 changes.
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SA Ssga Active Trust | Trimmed | −9,768,400 | −$6.51B | 5.9% |
| SA Ssga Active Trust | Trimmed | −3,991,200 | −$2.66B | 3.5% |
| IQ Invesco Qqq Tr | Exited | −1,570,400 | −$866M | — |
| VG Vanguard Group, Inc. | Trimmed | −1,101,100 | −$674M | — |
| IT Ishares Tr | Exited | −2,335,600 | −$504M | — |
| Microsoft Corporation | Trimmed | −886,400 | −$459M | 0.4% |
| VE Vaneck ETF Trust | Trimmed | −5,694,900 | −$435M | 0.1% |
| Oracle Corp. | Trimmed | −1,433,500 | −$403M | 0.5% |
| SG SPDR Gold Trust | Trimmed | −980,600 | −$349M | 6.1% |
| BI Blackrock Institutional Trus | Trimmed | −1,342,500 | −$325M | 0.1% |
Showing the 10 largest of 1865 changes.
quarter ended June 30, 2025 · filed July 28, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Trimmed | −9,088,500 | −$5.62B | 13.7% |
| IQ Invesco Qqq Tr | Trimmed | −1,918,800 | −$1.06B | 0.4% |
| SG SPDR Gold Tr | Trimmed | −2,517,200 | −$767M | 2.9% |
| VI Vanguard Index Fds | New | +1,110,300 | +$631M | 1.2% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −811,500 | −$501M | 6.1% |
| Microsoft Corp | Added | +991,800 | +$493M | 1.0% |
| IQ Invesco Qqq Tr | Added | +667,000 | +$368M | 1.6% |
| SD SPDR Dow Jones Indl Average | Trimmed | −745,900 | −$329M | 0.2% |
| SD SPDR Dow Jones Indl Average | Trimmed | −728,900 | −$321M | 0.3% |
| Netflix Inc | Trimmed | −225,200 | −$302M | 0.1% |
Showing the 10 largest of 1953 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Added | +7,472,300 | +$4.18B | 22.1% |
| SS SPDR S&P 500 ETF Tr | Added | +4,491,200 | +$2.51B | 6.4% |
| IG Ishares Gold Tr | Trimmed | −16,038,700 | −$946M | 0.7% |
| IQ Invesco Qqq Tr | Trimmed | −1,322,400 | −$620M | 2.1% |
| SS Select Sector SPDR Tr | Trimmed | −2,935,900 | −$606M | 0.3% |
| Apple Inc | Trimmed | −2,227,300 | −$495M | 0.3% |
| SG SPDR Gold Tr | Trimmed | −1,666,700 | −$480M | 4.1% |
| SD SPDR Dow Jones Indl Average | New | +1,098,900 | +$461M | 0.9% |
| SD SPDR Dow Jones Indl Average | New | +940,400 | +$395M | 0.7% |
| Apple Inc | Added | +1,670,600 | +$371M | 1.1% |
Showing the 10 largest of 1964 changes.
quarter ended December 31, 2024 · filed February 10, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SA Ssga Active Trust | Trimmed | −3,033,600 | −$1.78B | 1.7% |
| IC Invesco Capital Management L | Added | +3,251,000 | +$1.66B | 3.4% |
| SA Ssga Active Trust | Trimmed | −1,539,800 | −$902M | 14.2% |
| Apple Inc | Added | +2,342,500 | +$587M | 1.3% |
| Spotify Technology S.a. | Trimmed | −881,900 | −$395M | — |
| Fedex Corp | Added | +1,129,500 | +$318M | 0.6% |
| Palantir Technologies Inc | Trimmed | −4,184,200 | −$316M | 0.4% |
| BI Blackrock Institutional Trus | Trimmed | −1,354,500 | −$299M | 0.9% |
| Alphabet Inc | Added | +1,549,000 | +$293M | 1.0% |
| Booking Holdings Inc | New | +57,400 | +$285M | 0.5% |
Showing the 10 largest of 1935 changes.
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Added | +7,207,300 | +$4.14B | 16.9% |
| SS SPDR S&P 500 ETF Tr | Added | +1,675,800 | +$962M | 5.2% |
| SG SPDR Gold Tr | Trimmed | −2,485,400 | −$604M | 5.0% |
| SS Select Sector SPDR Tr | Added | +2,507,800 | +$566M | 1.3% |
| Servicenow Inc | Exited | −699,300 | −$550M | — |
| IT Ishares Tr | Trimmed | −2,089,400 | −$462M | 0.4% |
| IQ Invesco Qqq Tr | Added | +821,800 | +$401M | 1.0% |
| Apple Inc | Trimmed | −1,603,600 | −$374M | 0.3% |
| TC Tjx Cos Inc New | Trimmed | −3,171,900 | −$373M | — |
| Broadcom Inc | Added | +2,066,300 | +$356M | 0.8% |
Showing the 10 largest of 1807 changes.
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