CIK 1667391
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2019-Q3. 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 | 80.50% | 4 |
| Insurance | 9.33% | 2 |
| Software & IT Services | 4.04% | 1 |
| Technology Hardware & Equipment | 3.41% | 1 |
| Software | 2.71% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | GLD | SPDR GOLD TR | Unclassified | 36.35% |
| 2 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 29.37% |
| 3 | TLT | ISHARES TR | Unclassified | 11.73% |
| 4 | UNH | UNITEDHEALTH GROUP INC | Financials | 7.52% |
| 5 | BIDU | Baidu, Inc. | Information Technology | 4.04% |
| 6 | AAPL | Apple Inc. | Information Technology | 3.41% |
| 7 | IWM | ISHARES TR | Unclassified | 3.06% |
| 8 | CRM | Salesforce, Inc. | Information Technology | 2.71% |
| 9 | LNC | LINCOLN NATIONAL CORP | Financials | 1.81% |
5/9 names classified · sector 19.5% of weight · industry 19.5% · mkt cap 15.5%; 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: 19.5% of the book is sector-classified (unclassified names shown, never dropped).
Only 15% of book weight classified — the grid is NOT representative of the whole book.
Classified: 15.5% of book weight (4/9 names) · unclassified 84.5%: GLD, SPY, TLT, BIDU, IWM. 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 | GLDSPDR GOLD TR | 29,450 | $4M | 36.3% | ADD 68% |
| 2 | SPYSTATE STR SPDR S&P 500 ETF T | 10,552 | $3M | 29.4% | ADD 60% |
| 3 | TLTISHARES TR | 10,023 | $1M | 11.7% | ADD 182% |
| 4 | UNHUNITEDHEALTH GROUP INC | 2,962 | $871,000 | 7.5% | NEW |
| 5 | BIDUBAIDU INC | 3,704 | $468,000 | 4.0% | HOLD |
| 6 | AAPLAPPLE INC | 1,345 | $395,000 | 3.4% | NEW |
| 7 | IWMISHARES TR | 2,132 | $354,000 | 3.1% | TRIM −63% |
| 8 | CRMSALESFORCE INC | 1,930 | $314,000 | 2.7% | TRIM −33% |
| 9 | LNCLINCOLN NATL CORP IND | 3,547 | $209,000 | 1.8% | NEW |
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