CIK 1910867
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 | 98.11% | 43 |
| Software | 0.96% | 1 |
| Capital Markets | 0.75% | 2 |
| Chemicals | 0.18% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | AGG | ISHARES TR | Unclassified | 28.27% |
| 2 | BND | VANGUARD BD INDEX FDS | Unclassified | 26.44% |
| 3 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 9.71% |
| 4 | VTI | VANGUARD INDEX FDS | Unclassified | 5.39% |
| 5 | PML | PIMCO MUN INCOME FD II | Unclassified | 2.95% |
| 6 | EMB | ISHARES TR | Unclassified | 2.43% |
| 7 | NMZ | NUVEEN MUN HIGH INCOME OPPOR | Unclassified | 2.03% |
| 8 | IWM | ISHARES TR | Unclassified | 1.41% |
| 9 | DBL | DOUBLELINE OPPORTUNISTIC CR | Unclassified | 1.38% |
| 10 | LEO | BNY MELLON STRATEGIC MUNS IN | Unclassified | 1.31% |
4/47 names classified · sector 1.9% of weight · industry 1.9% · mkt cap 1.9%; 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: 1.9% of the book is sector-classified (unclassified names shown, never dropped).
Only 1% of book weight classified — the grid is NOT representative of the whole book.
Classified: 1.5% of book weight (3/47 names) · unclassified 98.5%: AGG, BND, SPY, VTI, PML, EMB, NMZ, IWM, DBL, LEO +34 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 | AGGISHARES TR | 467,661 | $46M | 28.3% | TRIM −2% |
| 2 | BNDVANGUARD BD INDEX FDS | 589,666 | $43M | 26.4% | HOLD |
| 3 | SPYSTATE STR SPDR S&P 500 ETF T | 24,440 | $16M | 9.7% | TRIM −6% |
| 4 | VTIVANGUARD INDEX FDS | 27,480 | $9M | 5.4% | HOLD |
| 5 | PMLPIMCO MUN INCOME FD II | 637,270 | $5M | 2.9% | TRIM −8% |
| 6 | EMBISHARES TR | 42,501 | $4M | 2.4% | ADD 326% |
| 7 | NMZNUVEEN MUN HIGH INCOME OPPOR | 319,835 | $3M | 2.0% | TRIM −26% |
| 8 | IWMISHARES TR | 9,335 | $2M | 1.4% | HOLD |
| 9 | DBLDOUBLELINE OPPORTUNISTIC CR | 154,710 | $2M | 1.4% | ADD 252% |
| 10 | LEOBNY MELLON STRATEGIC MUNS IN | 340,762 | $2M | 1.3% | TRIM −17% |
| 11 | XFFCXFLAHERTY & CRUMRINE PFD SECS | 135,742 | $2M | 1.3% | TRIM −10% |
| 12 | NVGNUVEEN AMT FREE MUN CR INC F | 166,284 | $2M | 1.3% | TRIM −29% |
| 13 | NZFNUVEEN MUNICIPAL CREDIT INC | 163,501 | $2M | 1.2% | TRIM −40% |
| 14 | MDYSPDR S&P MIDCAP 400 ETF TR | 3,123 | $2M | 1.2% | HOLD |
| 15 | VEAVANGUARD TAX-MANAGED FDS | 26,975 | $2M | 1.1% | HOLD |
| 16 | VWOVANGUARD INTL EQUITY INDEX F | 30,866 | $2M | 1.0% | HOLD |
| 17 | MSFTMICROSOFT CORP | 4,265 | $2M | 1.0% | HOLD |
| 18 | XNEAXNUVEEN AMT FREE QLTY MUN INC | 139,848 | $2M | 1.0% | TRIM −18% |
| 19 | BTTBLACKROCK MUN TARGET TERM TR | 67,359 | $2M | 0.9% | TRIM −13% |
| 20 | VXUSVANGUARD STAR FDS | 19,427 | $1M | 0.9% | HOLD |
| 21 | VGMINVESCO TR INVT GRADE MUNS | 129,726 | $1M | 0.8% | TRIM −14% |
| 22 | NMCONUVEEN MUN CR OPPORTUNITIES | 97,096 | $1M | 0.6% | TRIM −36% |
| 23 | VCSHVANGUARD SCOTTSDALE FDS | 10,961 | $865,623 | 0.5% | ADD 11% |
| 24 | BSVVANGUARD BD INDEX FDS | 9,993 | $780,883 | 0.5% | ADD 14% |
| 25 | VMOINVESCO MUN OPPORTUNITY TR | 78,605 | $747,534 | 0.5% | TRIM −13% |
| 26 | XEFRXEATON VANCE SR FLTNG RTE TR | 69,450 | $732,003 | 0.4% | NEW |
| 27 | KKRKKR & CO INC | 7,716 | $713,730 | 0.4% | HOLD |
| 28 | PSFCOHEN & STEERS SELECT PFD & | 34,086 | $660,928 | 0.4% | TRIM −15% |
| 29 | VVRINVESCO SR INCOME TR | 190,285 | $612,718 | 0.4% | ADD 412% |
| 30 | BXBLACKSTONE INC | 4,454 | $512,165 | 0.3% | HOLD |
| 31 | BBNBLACKROCK TAX MUNICPAL BD TR | 27,766 | $448,976 | 0.3% | TRIM −15% |
| 32 | DLYDOUBLELINE YIELD OPPORTUNITI | 28,396 | $395,272 | 0.2% | TRIM −13% |
| 33 | FAXABRDN ASIA PACIFIC INCOME FU | 26,318 | $379,506 | 0.2% | TRIM −12% |
| 34 | BRWSABA CAPITAL INCOME & OPRNT | 54,852 | $369,702 | 0.2% | ADD 134% |
| 35 | EVNEATON VANCE MUNI INCOME TRUS | 33,135 | $344,935 | 0.2% | TRIM −13% |
| 36 | PDOPIMCO DYNAMIC INCOME OPRNTS | 26,433 | $341,779 | 0.2% | TRIM −12% |
| 37 | FPFFIRST TR INTER DURATN PFD & | 19,345 | $338,421 | 0.2% | TRIM −27% |
| 38 | RABROOKFIELD REAL ASSETS INCOM | 26,024 | $334,669 | 0.2% | TRIM −18% |
| 39 | JPCNUVEEN PFD & INCOME OPPORTUN | 43,356 | $326,904 | 0.2% | TRIM −18% |
| 40 | SABASABA CAPITAL INCOME & OPPORT | 38,655 | $321,610 | 0.2% | TRIM −32% |
| 41 | IIMINVESCO VALUE MUN INCOME TR | 25,233 | $306,833 | 0.2% | TRIM −12% |
| 42 | PPGPPG INDS INC | 2,709 | $289,538 | 0.2% | HOLD |
| 43 | DSLDOUBLELINE INCOME SOLUTIONS | 24,248 | $262,606 | 0.2% | TRIM −28% |
| 44 | NBBNUVEEN TAXABLE MUNICPAL INM | 15,370 | $240,694 | 0.1% | TRIM −15% |
| 45 | TEITEMPLETON EMERGING MKTS INCO | 25,516 | $153,351 | 0.1% | TRIM −30% |
| 46 | ZTRVIRTUS TOTAL RETURN FD INC | 12,282 | $81,307 | 0.0% | HOLD |
| 47 | PFNPIMCO INCOME STRATEGY FD II | 10,778 | $74,260 | 0.0% | TRIM −9% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| AGGISHARES TR | 407K | 407K | 426K | 475K | 478K | 468K | $46M |
| BNDVANGUARD BD INDEX FDS | 509K | 509K | 528K | 24K | 592K | 590K | $43M |
| SPYSTATE STR SPDR S&P 500 ETF T | 26K | 25K | 26K | 143K | 26K | 24K | $16M |
| VTIVANGUARD INDEX FDS | 27K | 26K | 28K | 118K | 28K | 27K | $9M |
| PMLPIMCO MUN INCOME FD II | 547K | 547K | 547K | 77K | 696K | 637K | $5M |
| EMBISHARES TR | 11K | 10K | 10K | 16K | 10K | 43K | $4M |
| NMZNUVEEN MUN HIGH INCOME OPPOR | 432K | 432K | 432K | 1.6M | 435K | 320K | $3M |
| IWMISHARES TR | 10K | 9K | 9K | 43K | 9K | 9K | $2M |
| DBLDOUBLELINE OPPORTUNISTIC CR | 40K | 40K | 40K | 2.2M | 44K | 155K | $2M |
| LEOBNY MELLON STRATEGIC MUNS IN | 404K | 404K | 404K | 2.0M | 410K | 341K | $2M |
| XFFCXFLAHERTY & CRUMRINE PFD SECS | 148K | 148K | 148K | 487K | 151K | 136K | $2M |
| NVGNUVEEN AMT FREE MUN CR INC F | 233K | 233K | 233K | 4.6M | 235K | 166K | $2M |
| NZFNUVEEN MUNICIPAL CREDIT INC | 272K | 272K | 272K | 2.9M | 274K | 164K | $2M |
| MDYSPDR S&P MIDCAP 400 ETF TR | 3K | 3K | 3K | 306K | 3K | 3K | $2M |
| VEAVANGUARD TAX-MANAGED FDS | 29K | 27K | 27K | 4.4M | 27K | 27K | $2M |
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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