CIK 1943819
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 | 100.00% | 14 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | QUAL | ISHARES TR | Unclassified | 22.62% |
| 2 | BIL | SPDR SERIES TRUST | Unclassified | 21.09% |
| 3 | IQLT | ISHARES TR | Unclassified | 13.67% |
| 4 | QQQ | INVESCO QQQ TR | Unclassified | 11.79% |
| 5 | EFV | ISHARES TR | Unclassified | 7.22% |
| 6 | SMH | VANECK ETF TRUST | Unclassified | 7.12% |
| 7 | XLP | SELECT SECTOR SPDR TR | Unclassified | 3.71% |
| 8 | PWRD | TCW ETF TRUST | Unclassified | 2.91% |
| 9 | EWY | ISHARES INC MSCI STH KOR ETF | Unclassified | 2.00% |
| 10 | VTV | VANGUARD INDEX FDS | Unclassified | 2.00% |
0/14 names classified · sector 0.0% of weight · industry 0.0% · mkt cap 0.0%; 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: 0.0% 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: 0.0% of book weight (0/14 names) · unclassified 100.0%: QUAL, BIL, IQLT, QQQ, EFV, SMH, XLP, PWRD, EWY, VTV +4 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 | QUALISHARES TR | 337,336 | $65M | 22.6% | TRIM −7% |
| 2 | BILSPDR SERIES TRUST | 658,302 | $60M | 21.1% | TRIM −21% |
| 3 | IQLTISHARES TR | 846,133 | $39M | 13.7% | TRIM −8% |
| 4 | QQQINVESCO QQQ TR | 58,448 | $34M | 11.8% | TRIM −15% |
| 5 | EFVISHARES TR | 277,964 | $21M | 7.2% | TRIM −23% |
| 6 | SMHVANECK ETF TRUST | 53,133 | $20M | 7.1% | HOLD |
| 7 | XLPSELECT SECTOR SPDR TR | 129,368 | $11M | 3.7% | ADD 10% |
| 8 | PWRDTCW ETF TRUST | 85,199 | $8M | 2.9% | TRIM −48% |
| 9 | EWYISHARES INC MSCI STH KOR ETF | 46,557 | $6M | 2.0% | HOLD |
| 10 | VTVVANGUARD INDEX FDS | 29,121 | $6M | 2.0% | HOLD |
| 11 | GDXVANECK ETF TRUST GOLD MINERS ETF | 61,239 | $6M | 2.0% | TRIM −30% |
| 12 | EWUISHARES TR | 120,031 | $5M | 1.9% | HOLD |
| 13 | XLUSELECT SECTOR SPDR TR | 62,955 | $3M | 1.0% | TRIM −51% |
| 14 | COPXGLOBAL X FDS | 37,018 | $3M | 1.0% | TRIM −26% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| QUALISHARES TR | 327K | 340K | 398K | 399K | 363K | 337K | $65M |
| BILSPDR SERIES TRUST | — | — | — | 417K | 834K | 658K | $60M |
| IQLTISHARES TR | 990K | 1.0M | 905K | 916K | 923K | 846K | $39M |
| QQQINVESCO QQQ TR | 84K | 84K | 82K | 75K | 69K | 58K | $34M |
| EFVISHARES TR | 404K | 417K | 319K | 354K | 360K | 278K | $21M |
| SMHVANECK ETF TRUST | — | — | 39K | 39K | 53K | 53K | $20M |
| XLPSELECT SECTOR SPDR TR | 166K | 123K | 123K | 117K | 117K | 129K | $11M |
| PWRDTCW ETF TRUST | — | — | — | — | 165K | 85K | $8M |
| EWYISHARES INC MSCI STH KOR ETF | — | — | 84K | 84K | 47K | 47K | $6M |
| VTVVANGUARD INDEX FDS | 97K | 114K | 99K | 79K | 29K | 29K | $6M |
| GDXVANECK ETF TRUST GOLD MINERS ETF | — | — | 87K | 87K | 87K | 61K | $6M |
| EWUISHARES TR | 117K | 117K | 118K | 118K | 120K | 120K | $5M |
| XLUSELECT SECTOR SPDR TR | 52K | 53K | 53K | 64K | 128K | 63K | $3M |
| COPXGLOBAL X FDS | — | — | 50K | 50K | 50K | 37K | $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.
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