CIK 1852338
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 | 91.54% | 11 |
| Pharmaceuticals & Biotechnology | 6.01% | 3 |
| Semiconductors & Semiconductor Equipment | 1.52% | 1 |
| Technology Hardware & Equipment | 0.44% | 2 |
| Software | 0.32% | 2 |
| Diversified Telecommunication Services | 0.18% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 58.72% |
| 2 | EMEQ | NOMURA ETF TR | Unclassified | 11.98% |
| 3 | IEF | ISHARES TR | Unclassified | 7.81% |
| 4 | GOVT | ISHARES TR | Unclassified | 7.77% |
| 5 | ABBV | AbbVie Inc. | Health Care | 4.50% |
| 6 | VCIT | VANGUARD SCOTTSDALE FDS | Unclassified | 4.11% |
| 7 | INTC | INTEL CORP | Information Technology | 1.52% |
| 8 | ABT | ABBOTT LABORATORIES | Health Care | 1.32% |
| 9 | PSLV | SPROTT ASSET MANAGEMENT LP | Unclassified | 0.29% |
| 10 | AAPL | Apple Inc. | Information Technology | 0.26% |
10/20 names classified · sector 8.6% of weight · industry 8.5% · mkt cap 8.6%; 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: 8.6% of the book is sector-classified (unclassified names shown, never dropped).
Only 8% of book weight classified — the grid is NOT representative of the whole book.
Classified: 8.3% of book weight (8/20 names) · unclassified 91.7%: SPY, EMEQ, IEF, GOVT, VCIT, PSLV, QLTA, VSAT, PHYS, BRK.B +2 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 | 167,876 | $109M | 58.7% | TRIM −13% |
| 2 | EMEQNOMURA ETF TR | 493,825 | $22M | 12.0% | ADD 35% |
| 3 | IEFISHARES TR | 152,209 | $15M | 7.8% | ADD 5% |
| 4 | GOVTISHARES TR | 630,424 | $14M | 7.8% | ADD 4% |
| 5 | ABBVABBVIE INC | 38,452 | $8M | 4.5% | HOLD |
| 6 | VCITVANGUARD SCOTTSDALE FDS | 92,380 | $8M | 4.1% | HOLD |
| 7 | INTCINTEL CORP | 64,000 | $3M | 1.5% | TRIM −9% |
| 8 | ABTABBOTT LABS | 23,983 | $2M | 1.3% | HOLD |
| 9 | PSLVSPROTT ASSET MANAGEMENT LP | 21,843 | $532,751 | 0.3% | ADD 45% |
| 10 | AAPLAPPLE INC | 1,922 | $487,784 | 0.3% | TRIM −14% |
| 11 | QLTAISHARES TR | 9,497 | $451,941 | 0.2% | TRIM −97% |
| 12 | MSFTMICROSOFT CORP | 952 | $352,245 | 0.2% | HOLD |
| 13 | HALOHALOZYME THERAPEUTICS INC | 5,401 | $349,067 | 0.2% | NEW |
| 14 | VSATVIASAT INC | 7,140 | $327,012 | 0.2% | TRIM −12% |
| 15 | PHYSSprott Physical Gold Trust | 9,225 | $326,934 | 0.2% | ADD 22% |
| 16 | ONTOONTO INNOVATION INC | 1,587 | $325,446 | 0.2% | TRIM −3% |
| 17 | BRK.BBERKSHIRE HATHAWAY INC DEL | 612 | $293,270 | 0.2% | HOLD |
| 18 | VOOVANGUARD INDEX FDS | 487 | $291,007 | 0.2% | TRIM −5% |
| 19 | QQQINVESCO QQQ TR | 412 | $237,665 | 0.1% | HOLD |
| 20 | INTUINTUIT | 540 | $233,485 | 0.1% | TRIM −9% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| SPYSTATE STR SPDR S&P 500 ETF T | 183K | 185K | 176K | 187K | 192K | 168K | $109M |
| EMEQNOMURA ETF TR | — | — | — | — | 365K | 494K | $22M |
| IEFISHARES TR | — | — | 134K | 135K | 145K | 152K | $15M |
| GOVTISHARES TR | 461K | 668K | 664K | 595K | 604K | 630K | $14M |
| ABBVABBVIE INC | 40K | 40K | 40K | 40K | 39K | 38K | $8M |
| VCITVANGUARD SCOTTSDALE FDS | 87K | 89K | 89K | 89K | 92K | 92K | $8M |
| INTCINTEL CORP | — | — | 71K | 71K | 70K | 64K | $3M |
| ABTABBOTT LABS | 26K | 26K | 26K | 26K | 24K | 24K | $2M |
| PSLVSPROTT ASSET MANAGEMENT LP | — | 15K | 15K | 15K | 15K | 22K | $532,751 |
| AAPLAPPLE INC | 2K | 2K | 2K | 2K | 2K | 2K | $487,784 |
| QLTAISHARES TR | 315K | 319K | 319K | 306K | 315K | 9K | $451,941 |
| MSFTMICROSOFT CORP | 653 | 654 | 948 | 949 | 950 | 952 | $352,245 |
| HALOHALOZYME THERAPEUTICS INC | — | — | — | — | — | 5K | $349,067 |
| VSATVIASAT INC | 11K | — | — | 9K | 8K | 7K | $327,012 |
| PHYSSprott Physical Gold Trust | — | — | — | 8K | 8K | 9K | $326,934 |
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.
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