CIK 1295044
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Unclassified | 99.58% | 30 |
| Technology Hardware & Equipment | 0.27% | 1 |
| Pharmaceuticals & Biotechnology | 0.07% | 2 |
| Software | 0.05% | 1 |
| Beverages | 0.03% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 14.22% |
| 2 | IEI | ISHARES TR | Unclassified | 11.02% |
| 3 | IVV | ISHARES TR | Unclassified | 10.16% |
| 4 | IVE | ISHARES TR | Unclassified | 7.52% |
| 5 | ITOT | ISHARES TR | Unclassified | 7.31% |
| 6 | IAU | ISHARES GOLD TR | Unclassified | 6.85% |
| 7 | IWF | ISHARES TR | Unclassified | 6.09% |
| 8 | SPSB | SPDR SERIES TRUST | Unclassified | 5.22% |
| 9 | XLK | SELECT SECTOR SPDR TR | Unclassified | 4.47% |
| 10 | VGSH | VANGUARD SHORT-TERM TREASURY ETF | Unclassified | 3.58% |
5/35 names classified · sector 0.4% of weight · industry 0.4% · mkt cap 0.4%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 0.4% of the book is sector-classified (unclassified names shown, never dropped).
Only 0% of book weight classified — the grid is NOT representative of the whole book.
Classified: 0.4% of book weight (5/35 names) · unclassified 99.6%: SPY, IEI, IVV, IVE, ITOT, IAU, IWF, SPSB, XLK, VGSH +20 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | SPYSTATE STR SPDR S&P 500 ETF T | 150,473 | $98M | 14.2% | HOLD |
| 2 | IEIISHARES TR | 639,390 | $76M | 11.0% | ADD 4% |
| 3 | IVVISHARES TR | 107,017 | $70M | 10.2% | HOLD |
| 4 | IVEISHARES TR | 245,027 | $52M | 7.5% | HOLD |
| 5 | ITOTISHARES TR | 353,225 | $50M | 7.3% | HOLD |
| 6 | IAUISHARES GOLD TR | 534,548 | $47M | 6.8% | HOLD |
| 7 | IWFISHARES TR | 98,265 | $42M | 6.1% | HOLD |
| 8 | SPSBSPDR SERIES TRUST | 1,195,219 | $36M | 5.2% | ADD 6% |
| 9 | XLKSELECT SECTOR SPDR TR | 231,400 | $31M | 4.5% | HOLD |
| 10 | VGSHVANGUARD SHORT-TERM TREASURY ETF | 421,278 | $25M | 3.6% | HOLD |
| 11 | VYMIVANGUARD WHITEHALL FDS | 250,651 | $24M | 3.4% | HOLD |
| 12 | IEFAISHARES TR | 231,817 | $21M | 3.1% | ADD 2% |
| 13 | QUALISHARES TR | 104,390 | $20M | 2.9% | TRIM −3% |
| 14 | IXUSISHARES TR | 212,400 | $18M | 2.7% | HOLD |
| 15 | XLISELECT SECTOR SPDR TR | 112,993 | $18M | 2.7% | HOLD |
| 16 | FNCLFIDELITY COVINGTON TRUST | 218,273 | $15M | 2.2% | HOLD |
| 17 | IEFISHARES TR | 153,587 | $15M | 2.1% | HOLD |
| 18 | DSIISHARES TR | 56,187 | $7M | 1.0% | TRIM −4% |
| 19 | VTIVANGUARD INDEX FDS | 20,383 | $7M | 1.0% | TRIM −2% |
| 20 | USMVISHARES TR | 40,730 | $4M | 0.5% | TRIM −5% |
| 21 | ESGVVanguard ESG US Stock - ETF | 23,710 | $3M | 0.4% | HOLD |
| 22 | NULVNUSHARES ETF TR | 44,205 | $2M | 0.3% | TRIM −3% |
| 23 | SUSBISHARES TR | 75,295 | $2M | 0.3% | HOLD |
| 24 | AAPLAPPLE INC | 7,257 | $2M | 0.3% | TRIM −8% |
| 25 | ESGUISHARES TR | 12,295 | $2M | 0.3% | TRIM −3% |
| 26 | VSGXVANGUARD WORLD FD | 13,368 | $958,887 | 0.1% | TRIM −2% |
| 27 | QQQINVESCO QQQ TR | 628 | $362,469 | 0.1% | HOLD |
| 28 | MSFTMICROSOFT CORP | 879 | $325,379 | 0.0% | TRIM −9% |
| 29 | IVWISHARES TR | 2,840 | $321,232 | 0.0% | HOLD |
| 30 | FTECFIDELITY COVINGTON TRUST | 1,320 | $274,626 | 0.0% | HOLD |
| 31 | JNJJOHNSON & JOHNSON | 1,078 | $263,506 | 0.0% | HOLD |
| 32 | TIPISHARES TR | 2,320 | $256,035 | 0.0% | HOLD |
| 33 | LLYELI LILLY & CO | 246 | $226,263 | 0.0% | TRIM −5% |
| 34 | KOCOCA COLA CO | 2,950 | $224,348 | 0.0% | TRIM −2% |
| 35 | VGTVANGUARD WORLD FD | 296 | $206,525 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| SPYSTATE STR SPDR S&P 500 ETF T | 163K | 161K | 159K | 158K | 153K | 150K | $98M |
| IEIISHARES TR | 584K | 581K | 585K | 595K | 615K | 639K | $76M |
| IVVISHARES TR | 99K | 98K | 98K | 101K | 105K | 107K | $70M |
| IVEISHARES TR | 235K | 232K | 234K | 238K | 242K | 245K | $52M |
| ITOTISHARES TR | 348K | 342K | 345K | 350K | 355K | 353K | $50M |
| IAUISHARES GOLD TR | 545K | 533K | 527K | 527K | 533K | 535K | $47M |
| IWFISHARES TR | 95K | 94K | 95K | 96K | 98K | 98K | $42M |
| SPSBSPDR SERIES TRUST | 1.0M | 1.0M | 1.1M | 1.1M | 1.1M | 1.2M | $36M |
| XLKSELECT SECTOR SPDR TR | 117K | 115K | 114K | 115K | 231K | 231K | $31M |
| VGSHVANGUARD SHORT-TERM TREASURY ETF | 390K | 393K | 402K | 414K | 429K | 421K | $25M |
| VYMIVANGUARD WHITEHALL FDS | 244K | 242K | 244K | 248K | 252K | 251K | $24M |
| IEFAISHARES TR | 231K | 227K | 225K | 226K | 227K | 232K | $21M |
| QUALISHARES TR | 103K | 102K | 103K | 104K | 107K | 104K | $20M |
| IXUSISHARES TR | 205K | 204K | 204K | 207K | 212K | 212K | $18M |
| XLISELECT SECTOR SPDR TR | 114K | 111K | 111K | 111K | 113K | 113K | $18M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Where this firm's principals came from and which firms its alumni went on to found.
