Kelsey Financial, LLC

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CIK 2022609

13F portfolio (2026-Q1)

$114M

Positions

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-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.

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

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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 (2026-Q1)

Holdings

Top 5

51.8%

Top 10

73.1%

Effective N

13.4

HHI

0.075

This quarter

5 new · 0 exit →

By sector

Unclassified75.6%

Information Technology11.0%

Health Care8.1%

Consumer Discretionary1.7%

Industrials0.7%

Utilities0.7%

Financials0.6%

Communication Services0.5%

Other1.0%

By market cap

Unknown75.6%

Mega (>$200B)20.4%

Large ($10–200B)3.6%

Mid ($2–10B)0.4%

Micro (<$300M)0.1%

By region

Other75.6%

North America24.4%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	75.56%	33
Semiconductors & Semiconductor Equipment	7.86%	3
Pharmaceuticals & Biotechnology	7.39%	5
Technology Hardware & Equipment	1.98%	2
Automobiles & Components	0.95%	1
Specialty Retail	0.76%	2
Life Sciences Tools & Services	0.73%	1
Utilities	0.69%	2
Software	0.69%	1
Banks	0.60%	2
Electrical Equipment & Components	0.51%	2
Oil, Gas & Consumable Fuels	0.50%	1
Road & Rail	0.34%	1
Diversified Telecommunication Services	0.29%	1
Equity Real Estate Investment Trusts (REITs)	0.22%	1
Software & IT Services	0.22%	1
Commercial Services & Supplies	0.20%	1
Aerospace & Defense	0.19%	1
Food Products	0.18%	1
Chemicals	0.15%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	QQQ	INVESCO QQQ TR	Unclassified	18.49%
2	IWD	ISHARES TR	Unclassified	9.35%
3	LQD	ISHARES TR	Unclassified	9.20%
4	IGSB	ISHARES TR	Unclassified	8.04%
5	AMGN	AMGEN INC	Health Care	6.71%
6	AVGO	Broadcom Inc.	Information Technology	6.44%
7	IWS	ISHARES TR	Unclassified	4.52%
8	VEU	VANGUARD INTL EQUITY INDEX F	Unclassified	4.08%
9	IWP	ISHARES TR	Unclassified	3.55%
10	SPY	STATE STR SPDR S&P 500 ETF T	Unclassified	2.73%

30/63 names classified · sector 24.4% of weight · industry 24.4% · mkt cap 24.4%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 2 quarters

Information TechnologyAVGO, AAPL, NVDA, MSFT, KEYS · other

Health CareAMGN, A, ACAD, JNJ, PFE · other

Consumer DiscretionaryTSLA, HD, AMZN

IndustrialsUNP, WM, UPS, LMT

FinancialsWFC, COF

UtilitiesEPD, OPTT

Communication ServicesVZ, GOOG

Energy

Real Estate

Materials

Consumer Staples

UnclassifiedQQQ, IWD, LQD, IGSB, IWS · other

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: 24.4% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 24% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (27 classified)Kelsey Financial, LLC centroid (Large Growth)

Information TechnologyHealth CareConsumer DiscretionaryIndustrialsFinancialsCommunication ServicesEnergyReal EstateConsumer StaplesMaterials

Style box summary for Kelsey Financial, LLC: centroid Large Growth. Heaviest cells: Large Growth 11.1%, Large Core 8.8%, Large Value 2.1%.

Classified: 23.7% of book weight (27/63 names) · unclassified 76.3%: QQQ, IWD, LQD, IGSB, IWS, VEU, IWP, SPY, IWN, IWO +26 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· 63 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	QQQINVESCO QQQ TR	36,630	$21M	18.5%	ADD 16%
2	IWDISHARES TR	50,036	$11M	9.3%	TRIM −19%
3	LQDISHARES TR	96,565	$11M	9.2%	ADD 3%
4	IGSBISHARES TR	174,976	$9M	8.0%	HOLD
5	AMGNAMGEN INC	21,798	$8M	6.7%	HOLD
6	AVGOBROADCOM INC	23,803	$7M	6.4%	TRIM −6%
7	IWSISHARES TR	35,460	$5M	4.5%	TRIM −8%
8	VEUVANGUARD INTL EQUITY INDEX F	62,172	$5M	4.1%	TRIM −12%
9	IWPISHARES TR	31,682	$4M	3.5%	ADD 10%
10	SPYSTATE STR SPDR S&P 500 ETF T	4,796	$3M	2.7%	ADD 7%
11	IWNISHARES TR	14,711	$3M	2.4%	TRIM −4%
12	IWOISHARES TR	6,861	$2M	1.9%	ADD 20%
13	AAPLAPPLE INC	7,164	$2M	1.6%	TRIM −4%
14	JNKSPDR SER TR	15,386	$1M	1.3%	ADD 2%
15	NVDANVIDIA CORPORATION	7,747	$1M	1.2%	ADD 3%
16	TSLATESLA INC	2,925	$1M	1.0%	TRIM −7%
17	EEMISHARES TR	18,134	$1M	0.9%	TRIM −4%
18	ESGUISHARES TR	7,190	$1M	0.9%	ADD 38%
19	TIPISHARES TR	7,709	$850,765	0.7%	HOLD
20	AAGILENT TECHNOLOGIES INC	7,316	$833,878	0.7%	HOLD
21	SPYMSPDR SERIES TRUST	10,643	$814,625	0.7%	HOLD
22	VOOVANGUARD INDEX FDS	1,336	$798,327	0.7%	ADD 21%
23	MSFTMICROSOFT CORP	2,134	$789,943	0.7%	HOLD
24	EPDENTERPRISE PRODS PARTNERS L	20,726	$784,272	0.7%	TRIM −2%
25	VTCVANGUARD SCOTTSDALE FDS	9,287	$713,520	0.6%	TRIM −9%
26	SUSCISHARES TR	27,137	$627,888	0.5%	ADD 6%
27	VTWVVANGUARD SCOTTSDALE FDS	3,609	$603,497	0.5%	HOLD
28	XOMEXXON MOBIL CORP	3,347	$567,852	0.5%	HOLD
29	HDHOME DEPOT INC	1,724	$567,006	0.5%	HOLD
30	SUSBISHARES TR	22,502	$564,013	0.5%	ADD 5%
31	VOEVANGUARD INDEX FDS	2,876	$529,989	0.5%	TRIM −5%
32	VTWGVANGUARD SCOTTSDALE FDS	2,224	$509,381	0.4%	HOLD
33	DVYISHARES TR	3,354	$507,829	0.4%	HOLD
34	VONVVANGUARD SCOTTSDALE FDS	4,774	$447,515	0.4%	TRIM −16%
35	KEYSKEYSIGHT TECHNOLOGIES INC	1,571	$443,603	0.4%	TRIM −9%
36	WFCWELLS FARGO CO NEW	5,149	$409,912	0.4%	TRIM −17%
37	IYHISHARES TR	6,500	$400,660	0.4%	HOLD
38	UNPUNION PAC CORP	1,600	$388,192	0.3%	HOLD
39	SLVISHARES SILVER TR	5,397	$367,752	0.3%	ADD 4%
40	XLKSELECT SECTOR SPDR TR	2,728	$362,551	0.3%	ADD 8%
41	VZVERIZON COMMUNICATIONS INC	6,596	$331,119	0.3%	TRIM −22%
42	GEGE AEROSPACE	1,166	$330,876	0.3%	HOLD
43	AMZNAMAZON COM INC	1,450	$301,991	0.3%	HOLD
44	IWMISHARES TR	1,170	$290,160	0.3%	ADD 3%
45	ACWXISHARES TR	4,183	$286,410	0.3%	HOLD
46	COFCAPITAL ONE FINL CORP	1,531	$279,300	0.2%	HOLD
47	AMATAPPLIED MATLS INC	802	$274,116	0.2%	HOLD
48	VCSHVANGUARD SCOTTSDALE FDS	3,186	$252,554	0.2%	ADD 13%
49	GEVGE VERNOVA INC	287	$250,522	0.2%	NEW
50	PLDPROLOGIS INC.	1,893	$250,217	0.2%	HOLD
51	GOOGALPHABET INC	862	$247,146	0.2%	HOLD
52	JNJJOHNSON & JOHNSON	986	$241,018	0.2%	HOLD
53	PFEPFIZER INC	8,473	$237,924	0.2%	NEW
54	WMWASTE MGMT INC DEL	1,001	$230,020	0.2%	HOLD
55	ACADACADIA PHARM	10,000	$222,600	0.2%	HOLD
56	IAUISHARES GOLD TR	2,500	$220,400	0.2%	HOLD
57	LMTLOCKHEED MARTIN CORP	351	$212,141	0.2%	NEW
58	NUMGNUSHARES ETF TR	5,156	$211,808	0.2%	NEW
59	CPBTHE CAMPBELLS COMPANY	9,003	$200,493	0.2%	NEW
60	KVUEKENVUE INC	10,011	$172,590	0.2%	TRIM −3%
61	IMRXIMMUNEERING CORP	15,099	$79,572	0.1%	ADD 7%
62	SGMOQSANGAMO THERAPEUTICS INC	42,000	$10,370	0.0%	ADD 20%
63	OPTTOCEAN PWR TECHNOLOGIES INC	27,000	$9,450	0.0%	ADD 125%

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

QQQINVESCO QQQ TR

—

32K

37K

$21M

IWDISHARES TR

—

61K

50K

$11M

LQDISHARES TR

—

94K

97K

$11M

IGSBISHARES TR

—

174K

175K

$9M

AMGNAMGEN INC

—

22K

$8M

AVGOBROADCOM INC

—

25K

24K

$7M

IWSISHARES TR

—

39K

35K

$5M

VEUVANGUARD INTL EQUITY INDEX F

—

71K

62K

$5M

IWPISHARES TR

—

29K

32K

$4M

SPYSTATE STR SPDR S&P 500 ETF T

—

$3M

IWNISHARES TR

—

15K

$3M

IWOISHARES TR

—

$2M

AAPLAPPLE INC

—

$2M

JNKSPDR SER TR

—

15K

$1M

NVDANVIDIA CORPORATION

—

$1M

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.

☆Kelsey Financial, LLC