DaveManuel.com · Institutional Ownership · 13F Holdings
First Interstate Bank
Reported holdings as of Q3 2026, from 31 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| VANGUARD SCOTTSDALE FDS | VCIT | $168.8M | 2,155,101 | -0.27pp | 25q | HELD | |
| FIRST INTST BANCSYSTEM INC | FIBK | $164.1M | 4,591,104 | -0.54pp | 31q | -0.5%-$833.7K | |
| ISHARES TR | IVV | $160.1M | 209,065 | +0.19pp | 31q | -2.1%-$3.4M | |
| INVESCO EXCHANGE TRADED FD T | RSP | $149.3M | 717,930 | -0.15pp | 13q | -1.8%-$2.7M | |
| ISHARES TR | IJH | $110.9M | 1,541,825 | -0.38pp | 31q | -1.4%-$1.6M | |
| VANGUARD SCOTTSDALE FDS | VGIT | $109.1M | 1,925,152 | -0.12pp | 18q | HELD | |
| ISHARES TR | PFF | $91.4M | 3,096,662 | +0.01pp | 25q | +1.4%+$1.3M | |
| ISHARES TR | IJR | $87.8M | 645,437 | -0.41pp | 31q | -1.8%-$1.6M | |
| VANGUARD MALVERN FDS | VTIP | $76.6M | 1,556,685 | -0.03pp | 4q | -0.8%-$602.0K | |
| VANGUARD SCOTTSDALE FDS | VMBS | $65.9M | 1,483,366 | -0.07pp | 11q | +1.1%+$691.6K | |
| FLEXSHARES TR | GUNR | $64.9M | 1,231,513 | +0.19pp | 8q | -3.2%-$2.2M | |
| SELECT SECTOR SPDR TR | XLK | $49.1M | 250,871 | +0.14pp | 31q | +0.8%+$404.8K | |
| GLOBAL X FDS | PAVE | $38.8M | 739,373 | -0.25pp | 11q | -2.2%-$854.3K | |
| APPLE INC | AAPL | $28.3M | 84,894 | +0.35pp | 31q | +11.1%+$2.8M | |
| SELECT SECTOR SPDR TR | XLI | $23.7M | 141,825 | +0.23pp | 31q | +32.5%+$5.8M | |
| MICROSOFT CORP | MSFT | $21.6M | 42,025 | +0.34pp | 31q | +1.1%+$239.0K | |
| ALPHABET INC | GOOGL | $19.6M | 56,896 | -0.06pp | 31q | -3.6%-$734.6K | |
| SELECT SECTOR SPDR TR | XLV | $18.3M | 108,377 | +0.04pp | 31q | -3.9%-$737.0K | |
| SELECT SECTOR SPDR TR | XLC | $17.4M | 157,125 | +0.10pp | 31q | +6.4%+$1.0M | |
| PALO ALTO NETWORKS INC | PANW | $17.1M | 42,962 | +0.10pp | 24q | -6.0%-$1.1M | |
| AMAZON COM INC | AMZN | $16.6M | 66,744 | +0.03pp | 31q | -2.8%-$470.4K | |
| ISHARES TR | SUB | $13.3M | 127,211 | +0.70pp | 6q | +6613.0%+$13.1M | |
| CISCO SYS INC | CSCO | $13.2M | 122,973 | -0.07pp | 31q | -2.8%-$386.4K | |
| SPDR SERIES TRUST | XSD | $13.0M | 24,586 | -0.12pp | 22q | -2.2%-$291.8K | |
| SELECT SECTOR SPDR TR | XLF | $12.8M | 239,941 | -0.01pp | 31q | -2.7%-$352.9K | |
| SELECT SECTOR SPDR TR | XLE | $12.3M | 199,783 | +0.08pp | 31q | -3.1%-$391.8K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $10.6M | 21,191 | flat | 31q | -2.3%-$250.5K | |
| JPMORGAN CHASE & CO | JPM | $9.6M | 28,923 | flat | 31q | -3.5%-$346.4K | |
| META PLATFORMS INC | META | $9.0M | 12,373 | +0.25pp | 31q | +61.6%+$3.4M | |
| ISHARES TR | IBB | $8.2M | 38,873 | +0.03pp | 19q | -4.1%-$348.0K | |
| CAPITAL GRP FIXED INCM ETF T | CGHM | $7.7M | 321,153 | +0.02pp | 4q | +10.5%+$733.6K | |
| NVIDIA CORPORATION | NVDA | $6.9M | 30,222 | +0.03pp | 18q | -5.3%-$386.6K | |
| GLOBAL X FDS | BUG | $6.7M | 144,687 | +0.06pp | 3q | -3.7%-$259.4K | |
| SELECT SECTOR SPDR TR | XLU | $6.5M | 164,835 | -0.06pp | 31q | -3.0%-$198.1K | |
| SELECT SECTOR SPDR TR | XLB | $6.3M | 129,423 | -0.02pp | 31q | -3.3%-$216.2K | |
| SELECT SECTOR SPDR TR | XLRE | $6.3M | 152,896 | -0.03pp | 31q | -4.1%-$267.9K | |
| SELECT SECTOR SPDR TR | XLY | $6.2M | 56,575 | -0.02pp | 31q | -1.0%-$62.8K | |
| AMERICAN EXPRESS CO | AXP | $6.1M | 20,060 | -0.04pp | 31q | -3.2%-$201.0K | |
| SELECT SECTOR SPDR TR | XLP | $6.0M | 74,928 | -0.01pp | 31q | -3.0%-$189.7K | |
| COSTCO WHOLESALE CORPORATION | COST | $5.7M | 6,296 | -0.01pp | 31q | -1.6%-$93.8K | |
| WALMART INC | WMT | $5.7M | 54,813 | -0.02pp | 31q | HELD | |
| INVESCO EXCHANGE TRADED FD T | PSP | $5.6M | 99,961 | flat | 2q | -4.0%-$232.9K | |
| ISHARES TR | IEF | $5.5M | 62,092 | +0.01pp | 6q | +7.6%+$393.7K | |
| SALESFORCE INC | CRM | $5.3M | 23,273 | +0.09pp | 22q | -4.7%-$262.6K | |
| ISHARES TR | HEFA | $5.3M | 114,145 | -0.04pp | 17q | -12.3%-$741.3K | |
| DISNEY WALT CO | DIS | $5.3M | 50,463 | +0.02pp | 31q | -3.5%-$194.5K | |
| CITIGROUP INC | C | $5.2M | 40,373 | -0.03pp | 22q | -5.2%-$285.0K | |
| GOLDMAN SACHS ETF TR | GSEW | $5.0M | 53,963 | flat | 6q | -1.9%-$95.3K | |
| MCDONALDS CORP | MCD | $4.9M | 21,341 | -0.05pp | 31q | -3.4%-$172.1K | |
| GLOBAL X FDS | PFFD | $4.8M | 271,170 | -0.06pp | 6q | -15.6%-$882.6K | |
| SPDR SERIES TRUST | KRE | $4.7M | 67,650 | -0.03pp | 8q | -4.4%-$215.2K | |
| UNION PAC CORP | UNP | $4.5M | 16,678 | -0.01pp | 31q | -5.1%-$245.2K | |
| BROADCOM INC | AVGO | $4.4M | 12,507 | +0.03pp | 9q | +21.8%+$787.0K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $4.3M | 5,651 | -0.04pp | 31q | -19.1%-$1.0M | |
| ISHARES TR | EFA | $4.1M | 39,197 | flat | 31q | -2.0%-$83.1K | |
| VANGUARD INDEX FDS | VOO | $3.9M | 5,591 | flat | 26q | -1.7%-$68.7K | |
| LOWES COS INC | LOW | $3.7M | 20,337 | -0.04pp | 31q | -2.6%-$98.6K | |
| ABBOTT LABORATORIES | ABT | $3.7M | 37,863 | +0.01pp | 31q | -5.0%-$196.4K | |
| COLUMBIA ETF TR I | REVS | $3.6M | 109,803 | +0.01pp | 3q | HELD | |
| PFIZER INC | PFE | $3.4M | 120,616 | +0.02pp | 31q | -5.2%-$190.2K | |
| ISHARES TR | EEM | $3.4M | 50,954 | flat | 31q | HELD | |
| MARATHON PETE CORP | MPC | $3.1M | 7,949 | +0.06pp | 5q | HELD | |
| EMERSON ELEC CO | EMR | $3.1M | 19,908 | +0.01pp | 31q | -4.7%-$151.8K | |
| ISHARES TR | AGG | $3.0M | 31,528 | flat | 31q | HELD | |
| AGNICO EAGLE MINES LTD | AEM | $2.6M | 14,279 | +0.02pp | 31q | HELD | |
| HOME DEPOT INC | HD | $2.6M | 9,197 | -0.03pp | 31q | -1.4%-$38.1K | |
| SPDR SERIES TRUST | HYMB | $2.6M | 111,056 | flat | 11q | +4.4%+$109.6K | |
| PHILLIPS 66 | PSX | $2.5M | 9,963 | +0.04pp | 17q | -4.9%-$131.2K | |
| ISHARES TR | IHI | $2.5M | 48,828 | flat | 4q | -3.5%-$91.8K | |
| JOHNSON & JOHNSON | JNJ | $2.4M | 8,877 | +0.01pp | 31q | -1.9%-$46.1K | |
| MERCK & CO INC | MRK | $2.3M | 15,577 | +0.01pp | 31q | -1.5%-$35.6K | |
| BERKSHIRE HATHAWAY INC DEL | BRKA | $2.2M | 3 | flat | 31q | HELD | |
| CATERPILLAR INC | CAT | $2.2M | 2,716 | -0.03pp | 13q | HELD | |
| INVESCO EXCH TRADED FD TR II | BKLN | $2.2M | 106,982 | flat | 4q | HELD | |
| VANGUARD BD INDEX FDS | BSV | $2.1M | 27,157 | flat | 18q | +1.5%+$31.6K | |
| ALPHABET INC | GOOG | $1.9M | 5,458 | flat | 31q | -1.5%-$27.6K | |
| THERMO FISHER SCIENTIFIC INC | TMO | $1.8M | 2,728 | +0.03pp | 31q | HELD | |
| ORACLE CORP | ORCL | $1.8M | 13,120 | flat | 21q | HELD | |
| INTEL CORP | INTC | $1.8M | 14,979 | -0.01pp | 31q | +1.0%+$18.6K | |
| COCA COLA CO | KO | $1.8M | 20,367 | +0.01pp | 18q | -1.0%-$17.2K | |
| ISHARES TR | HYG | $1.7M | 22,408 | +0.01pp | 24q | +10.2%+$160.7K | |
| AMPHENOL CORP | APH | $1.6M | 19,200 | flat | 9q | HELD | |
| ISHARES TR | ITOT | $1.6M | 9,626 | flat | 6q | -5.3%-$90.1K | |
| ABBVIE INC | ABBV | $1.5M | 5,906 | flat | 31q | -1.0%-$15.2K | |
| CHEVRON CORPORATION | CVX | $1.5M | 7,502 | +0.01pp | 31q | -8.9%-$150.3K | |
| DEERE CO | DE | $1.5M | 2,259 | +0.01pp | 19q | -1.0%-$15.4K | |
| VANGUARD INTL EQUITY INDEX F | VEU | $1.5M | 18,139 | flat | 18q | -3.4%-$53.2K | |
| VANGUARD INDEX FDS | VB | $1.3M | 4,610 | -0.02pp | 18q | -14.4%-$221.3K | |
| JOHNSON CONTROLS INTERNATION | JCI | $1.3M | 8,490 | flat | 5q | HELD | |
| HF SINCLAIR CORP | DINO | $1.2M | 11,300 | +0.02pp | 5q | HELD | |
| GOLDMAN SACHS GROUP INC | GS | $1.2M | 1,327 | -0.01pp | 31q | HELD | |
| VANGUARD INTL EQUITY INDEX F | VWO | $1.2M | 20,086 | flat | 18q | -6.6%-$84.8K | |
| AUTOMATIC DATA PROCESSING IN | ADP | $1.2M | 4,465 | flat | 18q | -7.6%-$95.0K | |
| ISHARES TR | IBDY | $1.1M | 43,631 | -0.10pp | 12q | -63.5%-$1.9M | |
| GE AEROSPACE | GE | $1.1M | 3,384 | -0.01pp | 6q | HELD | |
| PROCTER & GAMBLE CO | PG | $1.0M | 7,107 | flat | 31q | -3.7%-$39.5K | |
| VANGUARD INTL EQUITY INDEX F | VT | $1.0M | 6,520 | flat | 18q | -2.0%-$20.5K | |
| WELLS FARGO & CO | WFC | $1.0M | 12,750 | flat | 9q | -2.6%-$26.7K | |
| BANK OF AMER CORP | BAC | $989.9K | 18,186 | flat | 5q | -1.2%-$11.6K | |
| SEAGATE TECHNOLOGY HLDNGS PL | STX | $922.3K | 1,000 | flat | 5q | HELD | |
| MPLX LP | MPLX | $901.1K | 16,000 | flat | 5q | HELD | |
| MASTERCARD INCORPORATED | MA | $893.9K | 1,621 | flat | 18q | +0.7%+$6.1K | |
| ISHARES TR | IBDU | $888.4K | 39,153 | flat | 9q | +6.0%+$50.4K | |
| ISHARES TR | IBDS | $878.2K | 36,411 | flat | 15q | DEBT | |
| TC ENERGY CORP | TRP | $849.4K | 14,700 | -0.01pp | 5q | HELD | |
| QUALCOMM INC | QCOM | $825.6K | 4,486 | flat | 31q | +0.8%+$6.4K | |
| GE VERNOVA INC | GEV | $798.4K | 840 | -0.01pp | 5q | HELD | |
| ISHARES TR | IBDV | $778.0K | 36,803 | flat | 8q | +2.1%+$16.4K | |
| ISHARES TR | IBDR | $750.2K | 30,949 | flat | 18q | DEBT | |
| MORGAN STANLEY | MS | $743.5K | 3,953 | flat | 18q | HELD | |
| ISHARES TR | IWV | $741.6K | 1,718 | flat | 16q | HELD | |
| DANAHER CORP DEL | DHR | $729.6K | 3,293 | +0.01pp | 22q | HELD | |
| VANGUARD INDEX FDS | VO | $726.2K | 9,261 | flat | 17q | HELD | |
| BOEING CO | BA | $708.9K | 3,810 | flat | 6q | +0.7%+$5.0K | |
| ELI LILLY & CO | LLY | $701.2K | 606 | flat | 2q | +9.2%+$59.0K | |
| UNITEDHEALTH GROUP INC | UNH | $681.7K | 1,857 | -0.01pp | 31q | -3.9%-$27.5K | |
| ECOLAB INC | ECL | $656.0K | 2,389 | flat | 18q | HELD | |
| AT&T INC | T | $648.5K | 26,578 | +0.01pp | 31q | -1.7%-$11.4K | |
| ISHARES TR | IBDT | $642.5K | 25,740 | flat | 9q | +12.2%+$69.9K | |
| VANGUARD SCOTTSDALE FDS | VGSH | $641.2K | 11,140 | - | new | NEW | |
| BLACKROCK INC | BLK | $638.1K | 603 | flat | 7q | HELD | |
| ISHARES TR | IBDX | $637.3K | 26,476 | -0.01pp | 12q | -24.3%-$204.8K | |
| VANGUARD TAX-MANAGED FDS | VEA | $626.2K | 8,869 | flat | 18q | +6.5%+$38.1K | |
| CONOCOPHILLIPS | COP | $621.4K | 4,965 | +0.01pp | 5q | HELD | |
| CUMMINS INC | CMI | $619.9K | 1,200 | -0.01pp | 9q | HELD | |
| AMGEN INC | AMGN | $615.8K | 1,461 | +0.01pp | 31q | +1.0%+$5.9K | |
| TOTALENERGIES SE | TTE | $598.5K | 7,000 | flat | 3q | HELD | |
| VISA INC | V | $587.5K | 1,635 | flat | 31q | +1.4%+$8.3K | |
| VANGUARD SCOTTSDALE FDS | VCSH | $587.3K | 7,602 | flat | 22q | HELD | |
| GENERAL DYNAMICS CORP | GD | $551.8K | 1,663 | flat | 31q | HELD | |
| REPUBLIC SVCS INC | RSG | $536.6K | 2,557 | flat | 15q | HELD | |
| MICRON TECHNOLOGY INC | MU | $532.6K | 500 | flat | 12q | HELD | |
| RTX CORPORATION | RTX | $518.0K | 2,790 | flat | 17q | +0.9%+$4.5K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $496.8K | 2,259 | -0.01pp | 17q | -6.4%-$34.1K | |
| PEPSICO INC | PEP | $496.7K | 3,920 | flat | 31q | -2.7%-$13.8K | |
| STRYKER CORPORATION | SYK | $481.1K | 1,747 | flat | 18q | HELD | |
| ISHARES TR | SOXX | $476.0K | 837 | -0.01pp | 10q | -23.7%-$147.8K | |
| COLGATE PALMOLIVE CO | CL | $472.0K | 5,532 | flat | 11q | -7.0%-$35.7K | |
| ISHARES TR | IWM | $462.7K | 1,665 | flat | 25q | +0.6%+$2.8K | |
| ADVANCED MICRO DEVICES INC | AMD | $440.5K | 720 | flat | 6q | HELD | |
| CAPITAL ONE FINL CORP | COF | $432.1K | 2,238 | flat | 6q | -6.3%-$29.0K | |
| COHERENT CORP | COHR | $431.7K | 1,500 | -0.01pp | 4q | HELD | |
| DEVON ENERGY CORP NEW | DVN | $424.3K | 9,215 | flat | 2q | HELD | |
| EOG RES INC | EOG | $421.7K | 3,061 | flat | 2q | HELD | |
| GLACIER BANCORP INC NEW | GBCI | $420.2K | 9,726 | -0.01pp | 7q | -20.2%-$106.4K | |
| SHERWIN WILLIAMS CO | SHW | $419.9K | 1,299 | flat | 17q | HELD | |
| DONALDSON INC | DCI | $417.8K | 4,800 | flat | 9q | HELD | |
| VANGUARD WHITEHALL FDS | VYM | $416.2K | 2,682 | flat | 2q | HELD | |
| ISHARES TR | MUB | $416.2K | 4,117 | flat | 2q | HELD | |
| NEWMONT CORP | NEM | $416.1K | 3,608 | flat | 6q | HELD | |
| TARGET CORP | TGT | $412.9K | 2,635 | flat | 17q | HELD | |
| THE CIGNA GROUP | CI | $406.4K | 1,495 | flat | 30q | HELD | |
| NOKIA CORP | NOK | $405.6K | 40,000 | -0.01pp | 5q | HELD | |
| VANGUARD WELLINGTON FD | VTES | $403.3K | 4,090 | - | new | NEW | |
| VANGUARD INDEX FDS | VNQ | $400.3K | 4,466 | flat | 18q | -3.1%-$13.0K | |
| ILLINOIS TOOL WKS INC | ITW | $396.2K | 1,540 | flat | 16q | +0.7%+$2.8K | |
| ISHARES TR | TLT | $375.4K | 4,827 | -0.01pp | 16q | -15.3%-$68.1K | |
| ISHARES TR | IWR | $373.1K | 3,496 | flat | 2q | -4.8%-$19.0K | |
| ISHARES TR | IBDW | $371.5K | 18,519 | flat | 8q | +4.7%+$16.8K | |
| RALPH LAUREN CORP | RL | $370.3K | 1,043 | flat | 3q | HELD | |
| VANGUARD INDEX FDS | VUG | $357.9K | 3,972 | flat | 10q | -2.1%-$7.6K | |
| HAWKINS INC | HWKN | $352.8K | 2,800 | flat | 12q | HELD | |
| US BANCORP | USB | $347.0K | 6,007 | flat | 19q | -15.5%-$63.7K | |
| SPDR SERIES TRUST | SPYV | $322.9K | 5,282 | flat | 2q | +18.2%+$49.7K | |
| iShares Tr | SHV | $317.8K | 2,881 | - | new | NEW | |
| ISHARES TR | REET | $317.3K | 12,307 | flat | 25q | HELD | |
| ISHARES TR | FLOT | $316.1K | 6,191 | - | new | NEW | |
| ISHARES TR | IVE | $312.5K | 1,369 | flat | 3q | HELD | |
| WILLIAMS COS INC | WMB | $305.9K | 4,500 | flat | 9q | HELD | |
| BRISTOL-MYERS SQUIBB CO | BMY | $305.2K | 4,891 | flat | 31q | -8.2%-$27.3K | |
| MONDELEZ INTL INC | MDLZ | $302.1K | 5,224 | flat | 31q | -23.4%-$92.2K | |
| ISHARES TR | SCZ | $298.5K | 3,536 | flat | 31q | -4.4%-$13.8K | |
| LIMONEIRA CO | LMNR | $297.5K | 25,000 | flat | 31q | HELD | |
| ISHARES TR | ILCG | $292.4K | 2,500 | flat | 10q | HELD | |
| PAN AMERN SILVER CORP | PAAS | $290.9K | 6,392 | flat | 5q | HELD | |
| VANGUARD INDEX FDS | VTV | $285.0K | 1,319 | flat | 9q | -2.6%-$7.6K | |
| AMETEK INC | AME | $278.7K | 1,125 | flat | 8q | HELD | |
| CVS HEALTH CORP | CVS | $277.5K | 3,238 | flat | 7q | HELD | |
| WILLIAMS SONOMA INC | WSM | $273.5K | 1,200 | flat | 11q | HELD | |
| DELL TECHNOLOGIES INC | DELL | $270.1K | 502 | flat | 2q | HELD | |
| SCHWAB STRATEGIC TR | SCHF | $259.5K | 9,446 | flat | 2q | HELD | |
| WASTE MGMT INC DEL | WM | $258.6K | 1,268 | flat | 3q | +8.4%+$20.0K | |
| EATON CORP PLC | ETN | $257.8K | 600 | flat | 3q | HELD | |
| LAM RESEARCH CORP | LRCX | $256.2K | 780 | flat | 2q | -3.1%-$8.2K | |
| ISHARES TR | IJK | $250.8K | 2,288 | flat | 6q | HELD | |
| ISHARES TR | IVW | $250.2K | 1,759 | flat | 2q | HELD | |
| SCHWAB STRATEGIC TR | SCHG | $250.0K | 6,959 | flat | 2q | HELD | |
| ROCKWELL AUTOMATION INC | ROK | $246.8K | 567 | flat | 2q | +1.1%+$2.6K | |
| TRAVELERS COMPANIES INC | TRV | $244.6K | 686 | flat | 4q | HELD | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $239.5K | 525 | flat | 2q | HELD | |
| STATE STR SPDR S&P MIDCAP 40 | MDY | $227.2K | 346 | flat | 5q | HELD | |
| VALERO ENERGY CORP | VLO | $222.9K | 575 | - | new | NEW | |
| ENERGY TRANSFER L P | ET | $215.2K | 10,887 | flat | 3q | HELD | |
| INTERCONTINENTAL EXCHANGE IN | ICE | $208.4K | 1,371 | -0.01pp | 24q | -52.5%-$230.5K | |
| ALPS ETF TR | IDOG | $203.1K | 4,827 | - | new | NEW | |
| FORD MTR CO | F | $164.1K | 13,607 | flat | 3q | -4.4%-$7.5K | |
| ARCOS DORADOS HLDGS INC | ARCO | $136.0K | 19,020 | flat | 11q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Banks & Lending | $188.2M | 10.0% |
| Computer Hardware | $60.3M | 3.2% |
| Software & IT Services | $60.3M | 3.2% |
| Retail & Consumer | $41.0M | 2.2% |
| Other sectors | $106.1M | 5.7% |
| Not classified | $1.4B | 75.7% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2026 | -2.1% | +2.1% | -4.2% | 100% |
| Q2 2026 | +8.8% | +14.8% | -6.0% | 100% |
| Q1 2026 | -0.3% | -4.6% | +4.3% | 100% |
| Q4 2025 | +1.8% | +2.4% | -0.6% | 100% |
| Q3 2025 | +5.5% | +7.8% | -2.3% | 100% |
| Q2 2025 | +4.5% | +10.5% | -5.9% | 100% |
| Q1 2025 | -2.7% | -4.6% | +1.9% | 100% |
| Q4 2024 | -0.4% | +2.1% | -2.6% | 100% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q3 2026 | $1.9B | 197 | 6 | 34 | 86 | 5 | 63.1% | 23 |
| Q2 2026 | $1.9B | 196 | 17 | 55 | 71 | 8 | 64.9% | 24 |
| Q1 2026 | $1.8B | 187 | 12 | 42 | 88 | 24 | 63.5% | 29 |
| Q4 2025 | $1.9B | 199 | 9 | 23 | 93 | 11 | 59.5% | 29 |
| Q3 2025 | $1.8B | 201 | 23 | 45 | 69 | 3 | 59.0% | 29 |
| Q2 2025 | $1.7B | 181 | 16 | 20 | 92 | 5 | 59.6% | 30 |
| Q1 2025 | $1.7B | 170 | 6 | 33 | 95 | 15 | 63.3% | 30 |
| Q4 2024 | $1.7B | 179 | 6 | 59 | 75 | 14 | 59.9% | 35 |
| Q3 2024 | $1.6B | 187 | 22 | 57 | 65 | 4 | 61.4% | 29 |
| Q2 2024 | $1.5B | 169 | 7 | 39 | 79 | 8 | 64.6% | 38 |
| Q1 2024 | $1.4B | 170 | 16 | 17 | 104 | 5 | 64.5% | 31 |
| Q4 2023 | $1.3B | 159 | 5 | 25 | 101 | 14 | 65.7% | 30 |
| Q3 2023 | $1.2B | 168 | 7 | 39 | 80 | 6 | 67.3% | 31 |
| Q2 2023 | $1.2B | 167 | 7 | 18 | 107 | 18 | 67.0% | 32 |
| Q1 2023 | $1.3B | 178 | 7 | 45 | 100 | 15 | 67.3% | 32 |
| Q4 2022 | $1.4B | 186 | 15 | 37 | 91 | 6 | 67.2% | 30 |
| Q3 2022 | $1.2B | 177 | 18 | 126 | 12 | 8 | 66.7% | 25 |
| Q2 2022 | $1.3B | 167 | 64 | 46 | 37 | 15 | 65.2% | 43 |
| Q1 2022 | $1.1B | 118 | 16 | 48 | 34 | 10 | 60.0% | 36 |
| Q4 2021 | $1.0B | 112 | 4 | 27 | 34 | 2 | 64.8% | 28 |
| Q3 2021 | $975.4M | 110 | 2 | 60 | 17 | 2 | 66.1% | 32 |
| Q2 2021 | $950.5M | 110 | 15 | 21 | 57 | 9 | 65.5% | 29 |
| Q4 2020 | $750.7M | 104 | 5 | 18 | 55 | 5 | 69.4% | 34 |
| Q3 2020 | $666.3M | 104 | 6 | 4 | 83 | 62 | 69.1% | 40 |
| Q2 2020 | $723.4M | 160 | 17 | 52 | 56 | 15 | 61.2% | 36 |
| Q1 2020 | $399.6M | 158 | 4 | 47 | 66 | 386 | 44.3% | 41 |
| Q4 2019 | $447.9M | 540 | 33 | 77 | 146 | 91 | 33.6% | 37 |
| Q3 2019 | $431.9M | 598 | 50 | 99 | 175 | 83 | 31.7% | 30 |
| Q2 2019 | $451.0M | 631 | 32 | 84 | 203 | 65 | 31.0% | 36 |
| Q1 2019 | $448.2M | 664 | 77 | 119 | 182 | 35 | 29.5% | 32 |
| Q4 2018 | $404.4M | 622 | 0 | 0 | 0 | 0 | 29.1% | 31 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.