DV EQUITIES, LLC

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CIK 1841659

13F portfolio (2025-Q4)

$553M

Positions

721

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-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.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

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.

Exposures · what this manager owns, by sector & size (2025-Q4)

Holdings

721

Top 5

52.9%

Top 10

63.2%

Effective N

6.4

HHI

0.157

This quarter

721 new · 0 exit →

By sector

Unclassified55.2%

Information Technology8.1%

Health Care7.4%

Financials7.3%

Energy5.6%

Consumer Discretionary5.5%

Communication Services2.9%

Industrials2.6%

Other5.3%

By market cap

Unknown84.6%

Mega (>$200B)9.3%

Large ($10–200B)5.7%

Mid ($2–10B)0.3%

Small ($300M–2B)0.1%

Micro (<$300M)0.0%

By region

Other55.2%

North America21.4%

Europe12.6%

Asia-Pacific10.8%

Africa0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	55.54%	46
Pharmaceuticals & Biotechnology	6.97%	28
Banks	5.92%	36
Oil, Gas & Consumable Fuels	5.59%	25
Semiconductors & Semiconductor Equipment	3.13%	23
Software & IT Services	2.05%	26
Real Estate Management & Development	1.96%	6
Technology Hardware & Equipment	1.74%	32
Specialty Retail	1.70%	34
Software	1.61%	29
Machinery	1.56%	27
Metals & Mining	1.49%	19
Automobiles & Components	1.46%	9
Household Durables	1.38%	2
Media & Entertainment	1.28%	12
Commercial Services & Supplies	0.68%	37
Communications Equipment	0.61%	3
Beverages	0.60%	8
Diversified Consumer Services	0.44%	2
Utilities	0.44%	39
Insurance	0.43%	31
Capital Markets	0.43%	22
Health Care Equipment & Supplies	0.38%	19
Diversified Telecommunication Services	0.36%	5
Aerospace & Defense	0.29%	17
Hotels, Restaurants & Leisure	0.28%	14
Chemicals	0.27%	23
Equity Real Estate Investment Trusts (REITs)	0.27%	38
Electrical Equipment & Components	0.16%	5
Food Products	0.12%	16
Distributors	0.10%	10
Road & Rail	0.10%	6
Tobacco	0.09%	3
Transportation Infrastructure	0.08%	7
Entertainment	0.07%	6
Construction & Engineering	0.06%	9
Health Care Providers & Services	0.06%	7
Construction Materials	0.04%	4
Life Sciences Tools & Services	0.04%	8
Airlines	0.04%	4
Food & Staples Retailing	0.03%	2
Marine	0.03%	5
Textiles, Apparel & Luxury Goods	0.03%	4
Paper & Forest Products	0.03%	5
Industrial Conglomerates	0.02%	1
Professional Services	0.01%	2
Agricultural Products	0.01%	1
Media & Publishing	0.00%	2
Leisure Products	0.00%	1
Coal & Consumable Fuels	0.00%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	VEA	VANGUARD TAX-MANAGED FDS	Unclassified	38.26%
2	EWA	ISHARES INC	Unclassified	6.20%
3	GDX	VANECK ETF TRUST GOLD MINERS ETF	Unclassified	3.06%
4	EQNR	Equinor ASA	Energy	2.93%
5	NVO	NOVO NORDISK A S	Health Care	2.48%
6	MUFG	Mitsubishi Ufj Financial Group Inc	Financials	2.45%
7	SHEL	SHELL PLC	Energy	2.23%
8	BEKE	Ke Holdings Inc.	Real Estate	1.94%
9	KWEB	KRANESHARES TRUST CSI CHI INTERNET	Unclassified	1.92%
10	NVS	Novartis AG	Health Care	1.74%

679/721 names classified · sector 44.8% of weight · industry 44.5% · mkt cap 15.4%; unclassified names shown, never dropped.

Style box · size × value-growth placement of the reported book (2025-Q4), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 15% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (551 classified)DV EQUITIES, LLC centroid (Large Core)

Information TechnologyConsumer DiscretionaryFinancialsCommunication ServicesIndustrialsHealth CareUtilitiesMaterialsConsumer StaplesEnergyReal Estate

Style box summary for DV EQUITIES, LLC: centroid Large Core. Heaviest cells: Large Growth 7.6%, Large Core 2.5%, Large Value 2.0%.

Classified: 14.9% of book weight (551/716 names) · unclassified 85.1%: VEA, EWA, GDX, EQNR, NVO, MUFG, SHEL, BEKE, KWEB, NVS +155 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 721 positions (2025-Q4) · largest first · Δ vs 2025-Q3

#	Security	Shares	Value	Weight	Δ QoQ
1	VEAVANGUARD TAX-MANAGED FDS	3,385,845	$212M	38.3%	NEW
2	EWAISHARES INC	1,308,413	$34M	6.2%	NEW
3	GDXVANECK ETF TRUST GOLD MINERS ETF	197,342	$17M	3.1%	NEW
4	EQNREQUINOR ASA	686,290	$16M	2.9%	NEW
5	NVONOVO-NORDISK A S	269,526	$14M	2.5%	NEW
6	MUFGMITSUBISHI UFJ FINANCIAL GRO	853,929	$14M	2.4%	NEW
7	SHELSHELL PLC	168,104	$12M	2.2%	NEW
8	BEKEKE HLDGS INC	680,224	$11M	1.9%	NEW
9	KWEBKRANESHARES TRUST CSI CHI INTERNET	312,429	$11M	1.9%	NEW
10	NVSNOVARTIS AG	69,935	$10M	1.7%	NEW
11	SANBANCO SANTANDER S.A.	757,680	$9M	1.6%	NEW
12	IXUSISHARES TR	100,000	$8M	1.5%	NEW
13	SNYSANOFI SA	167,296	$8M	1.5%	NEW
14	SONYSONY GROUP CORP	298,272	$8M	1.4%	NEW
15	MTARCELORMITTAL SA LUXEMBOURG	156,745	$7M	1.3%	NEW
16	ASMLASML HOLDING N V	6,107	$7M	1.2%	NEW
17	NVDANVIDIA CORPORATION	34,768	$6M	1.2%	NEW
18	TMETENCENT MUSIC ENTMT GROUP	352,635	$6M	1.1%	NEW
19	TSMTAIWAN SEMICONDUCTOR MFG LTD	19,575	$6M	1.1%	NEW
20	NIONIO INC	1,160,465	$6M	1.1%	NEW
21	EWTISHARES INC MSCI TAIWAN ETF	90,539	$6M	1.0%	NEW
22	AAPLAPPLE INC	20,679	$6M	1.0%	NEW
23	IXNISHARES TR	50,000	$5M	0.9%	NEW
24	MSFTMICROSOFT CORP	10,361	$5M	0.9%	NEW
25	BBVABANCO BILBAO VIZCAYA ARGENTA	147,093	$3M	0.6%	NEW
26	AMZNAMAZON COM INC	13,595	$3M	0.6%	NEW
27	JDJD.COM INC	108,488	$3M	0.6%	NEW
28	EWHISHARES INC MSCI HONG KG ETF	141,547	$3M	0.5%	NEW
29	ERICERICSSON	311,633	$3M	0.5%	NEW
30	MCHIISHARES TR MSCI CHINA ETF	50,045	$3M	0.5%	NEW
31	EWSISHARES INC	100,000	$3M	0.5%	NEW
32	GOOGLALPHABET INC	8,098	$3M	0.5%	NEW
33	BUDANHEUSER BUSCH INBEV SA/NV	37,508	$2M	0.4%	NEW
34	EDUNEW ORIENTAL ED & TECHNOLOGY	43,195	$2M	0.4%	NEW
35	AVGOBROADCOM INC	6,576	$2M	0.4%	NEW
36	SMFGSUMITOMO MITSUI FINL GROUP I	116,921	$2M	0.4%	NEW
37	METAMETA PLATFORMS INC	3,106	$2M	0.4%	NEW
38	GOOGALPHABET INC	6,474	$2M	0.4%	NEW
39	BILIBILIBILI INC	76,504	$2M	0.3%	NEW
40	TSLATESLA INC	3,948	$2M	0.3%	NEW
41	ARGXARGENX SE	2,079	$2M	0.3%	NEW
42	KSAISHARES TR	43,831	$2M	0.3%	NEW
43	TELFYTELEFONICA S A	330,259	$1M	0.2%	NEW
44	BRK.BBERKSHIRE HATHAWAY INC DEL	2,543	$1M	0.2%	NEW
45	JPMJPMORGAN CHASE & CO	3,803	$1M	0.2%	NEW
46	LLYELI LILLY & CO	1,106	$1M	0.2%	NEW
47	LOGILOGITECH INTL S A	11,067	$1M	0.2%	NEW
48	NTESNETEASE COM INC	6,785	$933,752	0.2%	NEW
49	VVISA INC	2,359	$827,325	0.1%	NEW
50	GDXJVANECK ETF TRUST	7,068	$804,197	0.1%	NEW
51	GDSGDS HLDGS LTD	173,200	$749,798	0.1%	NEW
52	XOMEXXON MOBIL CORP	5,854	$704,470	0.1%	NEW
53	INDAISHARES TR	12,898	$697,137	0.1%	NEW
54	JNJJOHNSON & JOHNSON	3,361	$695,559	0.1%	NEW
55	WBWEIBO CORP	67,843	$693,355	0.1%	NEW
56	WMTWALMART INC	6,143	$684,392	0.1%	NEW
57	MAMASTERCARD INCORPORATED	1,146	$654,228	0.1%	NEW
58	EATBRINKER INTL INC	4,148	$595,321	0.1%	NEW
59	PLTRPALANTIR TECHNOLOGIES INC	3,233	$574,666	0.1%	NEW
60	ABBVABBVIE INC	2,478	$566,198	0.1%	NEW
61	NFLXNETFLIX INC	5,939	$556,841	0.1%	NEW
62	ALCALCON AG	7,039	$554,744	0.1%	NEW
63	COSTCOSTCO WHSL CORP NEW	619	$533,788	0.1%	NEW
64	BACBANK AMERICA CORP	9,396	$516,780	0.1%	NEW
65	AMDADVANCED MICRO DEVICES INC	2,281	$488,499	0.1%	NEW
66	HDHOME DEPOT INC	1,392	$478,987	0.1%	NEW
67	PGPROCTER AND GAMBLE CO	3,275	$469,340	0.1%	NEW
68	AZNASTRAZENECA PLC	5,065	$465,625	0.1%	NEW
69	CVXCHEVRON CORP NEW	3,019	$460,126	0.1%	NEW
70	GEGE AEROSPACE	1,471	$453,112	0.1%	NEW
71	MUMICRON TECHNOLOGY INC	1,570	$448,094	0.1%	NEW
72	UNHUNITEDHEALTH GROUP INC	1,349	$445,318	0.1%	NEW
73	CSCOCISCO SYS INC	5,530	$425,976	0.1%	NEW
74	RACEFERRARI N V	1,141	$421,668	0.1%	NEW
75	WFCWELLS FARGO CO NEW	4,393	$409,428	0.1%	NEW
76	CRMSALESFORCE INC	1,529	$405,047	0.1%	NEW
77	BIDUBAIDU INC	3,007	$392,895	0.1%	NEW
78	IBMINTERNATIONAL BUSINESS MACHS	1,317	$390,109	0.1%	NEW
79	KOCOCA COLA CO	5,407	$378,003	0.1%	NEW
80	CATCATERPILLAR INC	654	$374,657	0.1%	NEW
81	GSGOLDMAN SACHS GROUP INC	423	$371,817	0.1%	NEW
82	MRKMERCK & CO INC	3,468	$365,042	0.1%	NEW
83	PMPHILIP MORRIS INTL INC	2,173	$348,549	0.1%	NEW
84	RTXRTX CORPORATION	1,876	$344,058	0.1%	NEW
85	ORCLORACLE CORP	1,753	$341,677	0.1%	NEW
86	GSKGSK PLC	6,770	$332,001	0.1%	NEW
87	BABOEING CO	1,481	$321,555	0.1%	NEW
88	TMOTHERMO FISHER SCIENTIFIC INC	526	$304,791	0.1%	NEW
89	LRCXLAM RESEARCH CORP	1,973	$304,618	0.1%	NEW
90	MCDMCDONALDS CORP	995	$304,102	0.1%	NEW
91	BCSBARCLAYS PLC	11,937	$303,797	0.1%	NEW
92	MSMORGAN STANLEY	1,698	$301,446	0.1%	NEW
93	ABTABBOTT LABS	2,398	$300,445	0.1%	NEW
94	CCITIGROUP INC	2,523	$294,409	0.1%	NEW
95	AMATAPPLIED MATLS INC	1,124	$288,857	0.1%	NEW
96	DISDISNEY WALT CO	2,477	$281,808	0.1%	NEW
97	ISRGINTUITIVE SURGICAL INC	496	$280,915	0.1%	NEW
98	AXPAMERICAN EXPRESS CO	753	$278,572	0.1%	NEW
99	LINLINDE PLC	648	$276,301	0.0%	NEW
100	PEPPEPSICO INC	1,910	$274,123	0.0%	NEW
101	VZVERIZON COMMUNICATIONS INC	6,656	$271,099	0.0%	NEW
102	RIORIO TINTO PLC	3,346	$267,780	0.0%	NEW
103	STAASTAAR SURGICAL CO	11,200	$258,608	0.0%	NEW
104	INTUINTUIT	390	$258,344	0.0%	NEW
105	APPAPPLOVIN CORP	380	$256,052	0.0%	NEW
106	QCOMQUALCOMM INC	1,491	$255,036	0.0%	NEW
107	TAT&T INC	10,077	$250,313	0.0%	NEW
108	NEENEXTERA ENERGY INC	3,094	$248,386	0.0%	NEW
109	GEVGE VERNOVA INC	380	$248,357	0.0%	NEW
110	AMGNAMGEN INC	752	$246,137	0.0%	NEW
111	BKNGBOOKING HOLDINGS INC	45	$240,990	0.0%	NEW
112	TJXTJX COS INC NEW	1,564	$240,246	0.0%	NEW
113	UBERUBER TECHNOLOGIES INC	2,875	$234,916	0.0%	NEW
114	SCHWSCHWAB CHARLES CORP	2,350	$234,788	0.0%	NEW
115	ACNACCENTURE PLC IRELAND	869	$233,153	0.0%	NEW
116	APHAMPHENOL CORP	1,720	$232,441	0.0%	NEW
117	NOWSERVICENOW INC	1,517	$232,389	0.0%	NEW
118	PGRPROGRESSIVE CORP	1,013	$230,680	0.0%	NEW
119	SPGIS&P GLOBAL INC	434	$226,804	0.0%	NEW
120	INTCINTEL CORP	6,142	$226,640	0.0%	NEW
121	KLACKLA CORP	186	$226,005	0.0%	NEW
122	TXNTEXAS INSTRS INC	1,269	$220,159	0.0%	NEW
123	COFCAPITAL ONE FINL CORP	894	$216,670	0.0%	NEW
124	BLKBLACKROCK INC	202	$216,209	0.0%	NEW
125	GILDGILEAD SCIENCES INC	1,751	$214,918	0.0%	NEW
126	HRIHERC HLDGS INC	1,400	$207,732	0.0%	NEW
127	NWGNATWEST GROUP PLC	11,796	$206,430	0.0%	NEW
128	ADBEADOBE INC	584	$204,394	0.0%	NEW
129	STLASTELLANTIS N.V	18,589	$202,434	0.0%	NEW
130	DHRDANAHER CORP DEL	877	$200,763	0.0%	NEW
131	PFEPFIZER INC	7,932	$197,507	0.0%	NEW
132	REMXVANECK ETF TRUST	2,664	$196,923	0.0%	NEW
133	BSXBOSTON SCIENTIFIC CORP	2,065	$196,898	0.0%	NEW
134	UNPUNION PAC CORP	842	$194,771	0.0%	NEW
135	ANETARISTA NETWORKS INC	1,453	$190,387	0.0%	NEW
136	LOWLOWES COS INC	785	$189,311	0.0%	NEW
137	ADIANALOG DEVICES INC	689	$186,857	0.0%	NEW
138	WELLWELLTOWER INC	967	$179,485	0.0%	NEW
139	IPXIPERIONX LTD	4,914	$177,813	0.0%	NEW
140	PANWPALO ALTO NETWORKS INC	954	$175,727	0.0%	NEW
141	ETNEATON CORP PLC	544	$173,269	0.0%	NEW
142	HONHONEYWELL INTL INC	887	$173,045	0.0%	NEW
143	MDTMEDTRONIC PLC	1,778	$170,795	0.0%	NEW
144	WDSWOODSIDE ENERGY GROUP LTD	10,936	$170,492	0.0%	NEW
145	DBDEUTSCHE BK AG	4,398	$169,587	0.0%	NEW
146	VSTVISTRA CORP	1,042	$168,106	0.0%	NEW
147	SYKSTRYKER CORPORATION	478	$168,003	0.0%	NEW
148	LWLAMB WESTON HLDGS INC	3,951	$165,507	0.0%	NEW
149	PLDPROLOGIS INC.	1,293	$165,064	0.0%	NEW
150	CRWDCROWDSTRIKE HLDGS INC	350	$164,066	0.0%	NEW
151	MRSHMARSH & MCLENNAN COS INC	883	$163,814	0.0%	NEW
152	DEDEERE & CO	350	$162,950	0.0%	NEW
153	VRTXVERTEX PHARMACEUTICALS INC	358	$162,303	0.0%	NEW
154	CBCHUBB LIMITED	511	$159,493	0.0%	NEW
155	COPCONOCOPHILLIPS	1,697	$158,856	0.0%	NEW
156	BXBLACKSTONE INC	1,030	$158,764	0.0%	NEW
157	CEGCONSTELLATION ENERGY CORP	438	$154,732	0.0%	NEW
158	PHPARKER-HANNIFIN CORP	176	$154,697	0.0%	NEW
159	BMYBRISTOL-MYERS SQUIBB CO	2,839	$153,136	0.0%	NEW
160	CMCSACOMCAST CORP NEW	5,048	$150,885	0.0%	NEW
161	ADPAUTOMATIC DATA PROCESSING IN	563	$144,820	0.0%	NEW
162	NKENIKE INC	2,270	$144,622	0.0%	NEW
163	MCKMCKESSON CORP	173	$141,910	0.0%	NEW
164	CVSCVS HEALTH CORP	1,770	$140,467	0.0%	NEW
165	BPBP PLC	3,990	$138,573	0.0%	NEW
166	CMECME GROUP INC	507	$138,452	0.0%	NEW
167	LMTLOCKHEED MARTIN CORP	284	$137,362	0.0%	NEW
168	WMWASTE MGMT INC DEL	619	$136,000	0.0%	NEW
169	TMUST-MOBILE US INC	669	$135,834	0.0%	NEW
170	MOALTRIA GROUP INC	2,344	$135,155	0.0%	NEW
171	SBUXSTARBUCKS CORP	1,595	$134,315	0.0%	NEW
172	SOSOUTHERN CO	1,533	$133,678	0.0%	NEW
173	ICEINTERCONTINENTAL EXCHANGE IN	798	$129,244	0.0%	NEW
174	ARESARES MANAGEMENT CORPORATION	796	$128,657	0.0%	NEW
175	OREALTY INCOME CORP	2,253	$127,002	0.0%	NEW
176	DUKDUKE ENERGY CORP NEW	1,083	$126,938	0.0%	NEW
177	HOODROBINHOOD MKTS INC	1,114	$125,993	0.0%	NEW
178	SNPSSYNOPSYS INC	261	$122,597	0.0%	NEW
179	KKRKKR & CO INC	961	$122,508	0.0%	NEW
180	TTTRANE TECHNOLOGIES PLC	311	$121,041	0.0%	NEW
181	GDGENERAL DYNAMICS CORP	355	$119,514	0.0%	NEW
182	CDNSCADENCE DESIGN SYSTEM INC	382	$119,406	0.0%	NEW
183	DASHDOORDASH INC	526	$119,128	0.0%	NEW
184	MMM3M CO	743	$118,954	0.0%	NEW
185	CRHCRH PLC	946	$118,061	0.0%	NEW
186	USBUS BANCORP	2,181	$116,378	0.0%	NEW
187	HWMHOWMET AEROSPACE INC	566	$116,041	0.0%	NEW
188	FCXFREEPORT MCMORAN INC	2,278	$115,700	0.0%	NEW
189	PNCPNC FINL SVCS GROUP INC	549	$114,593	0.0%	NEW
190	AMTAMERICAN TOWER CORP	652	$114,472	0.0%	NEW
191	BNYBANK NEW YORK MELLON CORP	980	$113,768	0.0%	NEW
192	PSXPHILLIPS 66	853	$110,071	0.0%	NEW
193	MCOMOODYS CORP	215	$109,833	0.0%	NEW
194	REGNREGENERON PHARMACEUTICALS	142	$109,606	0.0%	NEW
195	ELVELEVANCE HEALTH INC FORMERLY	309	$108,320	0.0%	NEW
196	PDDPDD HOLDINGS INC	954	$108,174	0.0%	NEW
197	ORLYOREILLY AUTOMOTIVE INC	1,181	$107,719	0.0%	NEW
198	GMGENERAL MTRS CO	1,313	$106,773	0.0%	NEW
199	NOCNORTHROP GRUMMAN CORP	187	$106,629	0.0%	NEW
200	AONAON PLC	299	$105,511	0.0%	NEW

showing the top 200 by weight

☆DV EQUITIES, LLC