CIK 1608826
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 | 99.78% | 55 |
| Software | 0.22% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | AVLV | AMERICAN CENTY ETF TR | Unclassified | 13.21% |
| 2 | EFV | ISHARES TR | Unclassified | 12.87% |
| 3 | PDBC | INVESCO ACTVELY MNGD ETC FD | Unclassified | 8.55% |
| 4 | SPDW | SPDR INDEX SHS FDS | Unclassified | 6.05% |
| 5 | VIG | VANGUARD SPECIALIZED FUNDS | Unclassified | 5.98% |
| 6 | SPTS | SPDR SERIES TRUST | Unclassified | 5.09% |
| 7 | EMLC | VANECK ETF TRUST | Unclassified | 4.53% |
| 8 | SPTI | SPDR SERIES TRUST | Unclassified | 4.50% |
| 9 | SPTM | SPDR SERIES TRUST | Unclassified | 4.42% |
| 10 | SPTB | SPDR SERIES TRUST | Unclassified | 4.37% |
1/56 names classified · sector 0.2% of weight · industry 0.2% · mkt cap 0.2%; 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: 0.2% 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: 0.2% of book weight (1/56 names) · unclassified 99.8%: AVLV, EFV, PDBC, SPDW, VIG, SPTS, EMLC, SPTI, SPTM, SPTB +45 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 | AVLVAMERICAN CENTY ETF TR | 246,536 | $20M | 13.2% | TRIM −5% |
| 2 | EFVISHARES TR | 260,346 | $19M | 12.9% | TRIM −8% |
| 3 | PDBCINVESCO ACTVELY MNGD ETC FD | 742,616 | $13M | 8.6% | TRIM −4% |
| 4 | SPDWSPDR INDEX SHS FDS | 199,317 | $9M | 6.0% | TRIM −6% |
| 5 | VIGVANGUARD SPECIALIZED FUNDS | 41,812 | $9M | 6.0% | TRIM −3% |
| 6 | SPTSSPDR SERIES TRUST | 262,376 | $8M | 5.1% | HOLD |
| 7 | EMLCVANECK ETF TRUST | 271,291 | $7M | 4.5% | HOLD |
| 8 | SPTISPDR SERIES TRUST | 236,042 | $7M | 4.5% | HOLD |
| 9 | SPTMSPDR SERIES TRUST | 84,091 | $7M | 4.4% | TRIM −4% |
| 10 | SPTBSPDR SERIES TRUST | 217,248 | $7M | 4.4% | HOLD |
| 11 | DMBSDOUBLELINE ETF TRUST | 120,380 | $6M | 4.0% | HOLD |
| 12 | MFEMPIMCO EQUITY SER | 227,511 | $6M | 3.8% | TRIM −6% |
| 13 | DFSVDIMENSIONAL ETF TRUST | 134,316 | $5M | 3.1% | ADD 15% |
| 14 | JQUAJ P MORGAN EXCHANGE TRADED F | 67,905 | $4M | 2.8% | TRIM −5% |
| 15 | TFISPDR SERIES TRUST | 68,871 | $3M | 2.1% | ADD 57% |
| 16 | SPTLSPDR SERIES TRUST | 109,078 | $3M | 1.9% | HOLD |
| 17 | SPIBSPDR SERIES TRUST | 81,137 | $3M | 1.8% | TRIM −3% |
| 18 | IWFISHARES TR | 5,165 | $2M | 1.5% | TRIM −4% |
| 19 | USFRWISDOMTREE TR | 31,187 | $2M | 1.0% | HOLD |
| 20 | VEAVANGUARD TAX-MANAGED FDS | 19,143 | $1M | 0.8% | HOLD |
| 21 | SPYVSPDR SERIES TRUST | 16,207 | $917,011 | 0.6% | TRIM −2% |
| 22 | FRELFIDELITY COVINGTON TRUST | 31,264 | $841,326 | 0.6% | TRIM −4% |
| 23 | PMLPIMCO MUN INCOME FD II | 79,086 | $598,681 | 0.4% | ADD 22% |
| 24 | XSSPXNUVEEN S&P 500 DYNAMIC OVERW | 34,434 | $553,356 | 0.4% | NEW |
| 25 | VTIVANGUARD INDEX FDS | 1,658 | $531,901 | 0.4% | HOLD |
| 26 | BBNBLACKROCK TAX MUNICPAL BD TR | 28,764 | $465,115 | 0.3% | ADD 36% |
| 27 | ETVEATON VANCE TX MNG BY WRT OP | 30,946 | $423,031 | 0.3% | NEW |
| 28 | BTTBLACKROCK MUN TARGET TERM TR | 18,321 | $415,889 | 0.3% | TRIM −14% |
| 29 | ETWEATON VANCE TAX-MANAGED GLOB | 46,968 | $412,377 | 0.3% | HOLD |
| 30 | PHKPIMCO HIGH INCOME FD | 84,342 | $390,503 | 0.3% | HOLD |
| 31 | MSFTMICROSOFT CORP | 900 | $333,153 | 0.2% | HOLD |
| 32 | MMUWESTERN ASSET MANAGED MUNS F | 30,479 | $313,328 | 0.2% | TRIM −4% |
| 33 | MHDBLACKROCK MUNIHOLDINGS FD IN | 27,264 | $307,534 | 0.2% | ADD 16% |
| 34 | ZTRVIRTUS TOTAL RETURN FD INC | 46,330 | $306,703 | 0.2% | ADD 7% |
| 35 | BRWSABA CAPITAL INCOME & OPRNT | 44,648 | $300,926 | 0.2% | ADD 13% |
| 36 | STEWSRH TOTAL RETURN FUND INC | 16,710 | $285,749 | 0.2% | TRIM −19% |
| 37 | XBOEXBLACKROCK ENHANCED GLOBAL DI | 24,911 | $273,023 | 0.2% | HOLD |
| 38 | LEOBNY MELLON STRATEGIC MUNS IN | 43,383 | $272,877 | 0.2% | TRIM −4% |
| 39 | MMDMAINSTAY MACKAY DEFINEDTERM | 17,747 | $263,545 | 0.2% | ADD 3% |
| 40 | XFFCXFLAHERTY & CRUMRINE PFD SECS | 16,961 | $262,725 | 0.2% | TRIM −9% |
| 41 | QQQINVESCO QQQ TR | 427 | $246,205 | 0.2% | HOLD |
| 42 | NCVVIRTUS CONVERTIBLE & INCOME | 16,256 | $241,889 | 0.2% | TRIM −5% |
| 43 | NBHNEUBERGER BERMAN MUN FD INC | 23,386 | $237,366 | 0.2% | TRIM −6% |
| 44 | ETBEATON VANCE TAX MNGED BUY WR | 14,739 | $212,530 | 0.1% | TRIM −16% |
| 45 | DHYCREDIT SUISSE HIGH YIELD CRE | 109,203 | $207,485 | 0.1% | TRIM −12% |
| 46 | PMOPUTNAM MUN OPPORTUNITIES TR | 20,076 | $206,780 | 0.1% | TRIM −12% |
| 47 | DHFBNY MELLON HIGH YIELD STRATE | 84,710 | $206,694 | 0.1% | TRIM −15% |
| 48 | AEFABRDN EMERGING MARKETS EX CH | 28,058 | $204,543 | 0.1% | TRIM −17% |
| 49 | DSMBNY MELLON STRATEGIC MUN BD | 33,251 | $199,838 | 0.1% | TRIM −14% |
| 50 | NCZVIRTUS CONVERTIBLE & INC FD | 14,543 | $195,026 | 0.1% | TRIM −10% |
| 51 | CEFZELEVATION SERIES TRUST | 24,745 | $194,196 | 0.1% | ADD 2% |
| 52 | HFROHIGHLAND OPPS & INCOME FD | 33,966 | $193,944 | 0.1% | TRIM −14% |
| 53 | DMOWESTERN ASSET MTG DEFINED OP | 17,566 | $188,833 | 0.1% | HOLD |
| 54 | MFMMFS MUN INCOME TR | 21,432 | $115,517 | 0.1% | TRIM −11% |
| 55 | GDLGDL FD | 13,831 | $115,209 | 0.1% | TRIM −10% |
| 56 | VLTINVESCO HIGH INCOME TR II | 10,852 | $109,603 | 0.1% | TRIM −10% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| AVLVAMERICAN CENTY ETF TR | 275K | 256K | 254K | 259K | 260K | 247K | $20M |
| EFVISHARES TR | 120K | 118K | 118K | 273K | 282K | 260K | $19M |
| PDBCINVESCO ACTVELY MNGD ETC FD | 687K | 721K | 711K | 739K | 771K | 743K | $13M |
| SPDWSPDR INDEX SHS FDS | 260K | 251K | 247K | 202K | 213K | 199K | $9M |
| VIGVANGUARD SPECIALIZED FUNDS | 53K | 48K | 47K | 44K | 43K | 42K | $9M |
| SPTSSPDR SERIES TRUST | 267K | 282K | 275K | 245K | 257K | 262K | $8M |
| EMLCVANECK ETF TRUST | 239K | 252K | 251K | 258K | 273K | 271K | $7M |
| SPTISPDR SERIES TRUST | 136K | 137K | 135K | 234K | 240K | 236K | $7M |
| SPTMSPDR SERIES TRUST | 79K | 82K | 83K | 84K | 88K | 84K | $7M |
| SPTBSPDR SERIES TRUST | — | — | — | — | 220K | 217K | $7M |
| DMBSDOUBLELINE ETF TRUST | 119K | 120K | 119K | 119K | 123K | 120K | $6M |
| MFEMPIMCO EQUITY SER | 224K | 229K | 225K | 238K | 241K | 228K | $6M |
| DFSVDIMENSIONAL ETF TRUST | — | — | — | 117K | 117K | 134K | $5M |
| JQUAJ P MORGAN EXCHANGE TRADED F | 82K | 74K | 73K | 71K | 71K | 68K | $4M |
| TFISPDR SERIES TRUST | — | — | — | 42K | 44K | 69K | $3M |
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.
