DaveManuel.com · Institutional Ownership · 13F Holdings
Madison Asset Management, LLC
Reported holdings as of Q2 2026, from 27 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ARCH CAP GROUP LTD | ACGL | $368.8M | 3,799,789 | -0.46pp | 27q | -6.8%-$26.9M | |
| ALPHABET INC | GOOG | $215.6M | 610,192 | +0.33pp | 27q | -3.1%-$6.8M | |
| AMPHENOL CORP | APH | $207.4M | 1,176,112 | +0.51pp | 27q | -6.0%-$13.2M | |
| ROSS STORES INC | ROST | $188.7M | 886,641 | -1.55pp | 27q | -37.2%-$112.0M | |
| PACCAR INC | PCAR | $177.6M | 1,478,618 | -0.15pp | 27q | -6.7%-$12.8M | |
| TEXAS INSTRS INC | TXN | $171.6M | 575,695 | +0.58pp | 27q | -5.4%-$9.7M | |
| AMAZON COM INC | AMZN | $156.4M | 656,264 | +0.14pp | 27q | -1.6%-$2.6M | |
| CARLISLE COS INC | CSL | $152.9M | 421,406 | -0.05pp | 27q | -7.1%-$11.8M | |
| CDW CORP | CDW | $150.6M | 1,070,495 | +0.14pp | 27q | -3.1%-$4.9M | |
| MKS INC. | MKSI | $140.9M | 316,694 | +0.72pp | 19q | -6.4%-$9.6M | |
| KEYSIGHT TECHNOLOGIES INC | KEYS | $139.4M | 398,124 | +0.18pp | 8q | -5.9%-$8.7M | |
| BROWN BROWN INC | BRO | $138.6M | 2,161,022 | -0.21pp | 27q | -6.4%-$9.4M | |
| LABCORP HOLDINGS INC | LH | $133.5M | 476,643 | -0.03pp | 9q | -2.8%-$3.9M | |
| VISA INC | V | $131.3M | 382,662 | +0.10pp | 27q | -1.8%-$2.5M | |
| MEDPACE HLDGS INC | MEDP | $129.0M | 243,502 | -0.02pp | 7q | -7.2%-$10.0M | |
| ANALOG DEVICES INC | ADI | $124.4M | 313,234 | +0.15pp | 27q | -7.2%-$9.6M | |
| TELEDYNE TECHNOLOGIES INC | TDY | $122.6M | 183,824 | -0.03pp | 9q | -7.4%-$9.8M | |
| MSA SAFETY INC | MSA | $115.3M | 660,573 | +0.18pp | 3q | +12.2%+$12.6M | |
| COPART INC | CPRT | $113.1M | 4,013,460 | -0.25pp | 27q | +3.2%+$3.5M | |
| MOELIS & CO | MC | $109.1M | 1,667,157 | +0.05pp | 25q | -6.0%-$7.0M | |
| BERKLEY W R CORP | WRB | $105.6M | 1,497,784 | -0.07pp | 27q | -7.5%-$8.5M | |
| WATERS CORP | WAT | $105.0M | 279,856 | +0.24pp | 13q | +2.6%+$2.7M | |
| SMITH A O CORP | AOS | $92.0M | 1,466,922 | +0.16pp | 3q | +28.4%+$20.3M | |
| LIBERTY MEDIA CORP DEL | FWONK | $91.7M | 964,340 | -0.03pp | 12q | -9.9%-$10.1M | |
| PARKER HANNIFIN CORP | PH | $86.4M | 88,312 | flat | 19q | -5.1%-$4.7M | |
| DANAHER CORP DEL | DHR | $85.5M | 448,611 | -0.15pp | 27q | -9.4%-$8.8M | |
| FERGUSON ENTERPRISES INC | FERG | $84.4M | 355,611 | -0.07pp | 9q | -4.7%-$4.2M | |
| INVESCO EXCHANGE TRADED FD T | SPHQ | $84.4M | 936,702 | -0.19pp | 27q | -27.0%-$31.1M | |
| AGILENT TECHNOLOGIES INC | A | $83.9M | 631,763 | +0.14pp | 12q | +3.9%+$3.2M | |
| MICROSOFT CORP | MSFT | $81.3M | 217,910 | -0.02pp | 27q | +0.9%+$733.7K | |
| FLOOR & DECOR HLDGS INC | FND | $78.9M | 1,329,870 | +0.08pp | 17q | -2.9%-$2.4M | |
| CHARLES SCHWAB CORP (THE) | SCHW | $78.2M | 847,868 | +0.09pp | 17q | +17.5%+$11.6M | |
| BIO TECHNE CORP | TECH | $75.1M | 1,063,473 | +0.19pp | 4q | -2.7%-$2.1M | |
| GARTNER INC | IT | $74.5M | 574,609 | -0.32pp | 27q | -6.3%-$5.0M | |
| PROGRESSIVE CORP | PGR | $73.9M | 338,343 | +0.02pp | 27q | -3.3%-$2.5M | |
| EXPEDITORS INTL WASH INC | EXPD | $73.1M | 448,305 | flat | 27q | -8.6%-$6.9M | |
| VERISK ANALYTICS INC | VRSK | $71.5M | 398,522 | - | new | NEW | |
| BROOKFIELD ASSET MANAGMT LTD | BAM | $70.4M | 1,570,419 | -0.08pp | 15q | -6.2%-$4.7M | |
| LOWES COS INC | LOW | $69.5M | 315,223 | -0.14pp | 27q | -4.5%-$3.3M | |
| LITHIA MTRS INC | LAD | $67.0M | 230,604 | +0.08pp | 8q | -0.9%-$603.6K | |
| ELI LILLY & CO | LLY | $66.6M | 55,520 | +0.18pp | 27q | +2.6%+$1.7M | |
| THOR INDS INC | THO | $66.2M | 881,017 | -0.17pp | 18q | -8.7%-$6.3M | |
| TJX COS INC NEW | TJX | $65.1M | 429,842 | -0.08pp | 27q | -0.8%-$493.4K | |
| NEXTERA ENERGY INC | NEE | $63.5M | 724,014 | -0.03pp | 27q | +5.8%+$3.5M | |
| VANGUARD INTL EQUITY INDEX F | VEU | $63.5M | 758,447 | +0.07pp | 27q | +2.8%+$1.7M | |
| CULLEN FROST BANKERS INC | CFR | $62.3M | 403,055 | +0.17pp | 10q | +20.1%+$10.4M | |
| ASBURY AUTOMOTIVE GROUP INC | ABG | $60.6M | 301,332 | -0.03pp | 8q | -2.4%-$1.5M | |
| GLACIER BANCORP INC NEW | GBCI | $59.0M | 1,144,784 | +0.19pp | 27q | +23.0%+$11.1M | |
| APPLE INC | AAPL | $58.1M | 200,934 | +0.06pp | 27q | HELD | |
| MARSH & MCLENNAN COS INC | MRSH | $57.2M | 342,975 | -0.08pp | 25q | -3.6%-$2.2M | |
| SERVICETITAN INC | TTAN | $56.1M | 793,636 | -0.04pp | 3q | -11.8%-$7.5M | |
| BROOKFIELD CORP | BN | $55.7M | 1,306,755 | -0.02pp | 15q | -4.6%-$2.7M | |
| MADISON ETFS TRUST | MAGG | $53.3M | 2,634,812 | -0.05pp | 12q | -3.3%-$1.8M | |
| MADISON ETFS TRUST | DIVL | $52.5M | 2,163,006 | -0.02pp | 12q | +0.7%+$377.5K | |
| JANUS DETROIT STR TR | JMBS | $49.8M | 1,106,482 | -0.07pp | 20q | -7.0%-$3.7M | |
| HONEYWELL AEROSPACE INC | HONA | $49.7M | 224,998 | - | new | NEW | |
| JPMORGAN CHASE & CO | JPM | $48.2M | 147,323 | +0.06pp | 27q | +3.6%+$1.7M | |
| GRACO INC | GGG | $46.9M | 620,162 | +0.09pp | 8q | +39.0%+$13.2M | |
| VICTORY PORTFOLIOS II | VFLO | $45.9M | 1,003,856 | +0.31pp | 8q | +110.6%+$24.1M | |
| META PLATFORMS INC | META | $45.4M | 80,663 | -0.09pp | 11q | -9.6%-$4.8M | |
| AIRBNB INC | ABNB | $45.3M | 316,309 | +0.02pp | 5q | -5.0%-$2.4M | |
| MADISON ETFS TRUST | MSTI | $44.8M | 2,211,990 | -0.10pp | 12q | -11.9%-$6.0M | |
| BROADCOM INC | AVGO | $44.6M | 117,956 | +0.13pp | 10q | +11.7%+$4.7M | |
| HONEYWELL INTL INC | HON | $44.5M | 198,913 | - | new | NEW | |
| VANGUARD WORLD FD | VGT | $41.8M | 349,907 | +0.07pp | 27q | -12.3%-$5.9M | |
| STATE STR SPDR S&P 500 ETF T | SPY | $41.1M | 55,098 | -0.06pp | 27q | -19.7%-$10.1M | |
| KINSALE CAP GROUP INC | KNSL | $40.8M | 123,779 | -0.09pp | 6q | -9.5%-$4.3M | |
| BENTLEY SYS INC | BSY | $40.8M | 1,365,230 | +0.06pp | 2q | +39.1%+$11.5M | |
| TYLER TECHNOLOGIES INC | TYL | $40.6M | 138,684 | -0.20pp | 2q | -13.5%-$6.3M | |
| INTERCONTINENTAL EXCHANGE IN | ICE | $39.8M | 323,573 | - | new | NEW | |
| LIBERTY MEDIA CORP DEL | FWONA | $39.8M | 454,871 | +0.03pp | 12q | HELD | |
| MSCI INC | MSCI | $39.4M | 70,420 | +0.04pp | 4q | +9.6%+$3.4M | |
| DEERE CO | DE | $38.7M | 60,985 | +0.01pp | 11q | -5.5%-$2.2M | |
| ISHARES TR | IJR | $36.5M | 246,133 | +0.03pp | 27q | -5.5%-$2.1M | |
| JOHNSON & JOHNSON | JNJ | $34.7M | 136,792 | -0.01pp | 27q | -3.4%-$1.2M | |
| ETF SER SOLUTIONS | DSTL | $32.3M | 538,471 | -0.20pp | 25q | -34.0%-$16.6M | |
| HOME DEPOT INC | HD | $31.6M | 89,709 | flat | 27q | -1.7%-$562.5K | |
| COSTCO WHOLESALE CORPORATION | COST | $31.3M | 33,457 | -0.04pp | 27q | +1.3%+$390.1K | |
| ISHARES TR | IGIB | $31.1M | 584,799 | +0.11pp | 5q | +45.9%+$9.8M | |
| MADISON ETFS TRUST | CVRD | $30.8M | 1,755,000 | -0.03pp | 12q | -2.8%-$878.1K | |
| QUALCOMM INC | QCOM | $30.8M | 166,795 | +0.07pp | 27q | -10.6%-$3.7M | |
| J P MORGAN EXCHANGE TRADED F | JIRE | $30.6M | 371,195 | +0.05pp | 4q | +10.7%+$3.0M | |
| ARISTA NETWORKS INC | ANET | $30.3M | 178,606 | -0.68pp | 7q | -73.9%-$85.9M | |
| ISHARES TR | IJH | $29.6M | 383,925 | +0.09pp | 27q | +24.2%+$5.8M | |
| ISHARES TR | IUSG | $28.5M | 151,348 | +0.11pp | 20q | +24.8%+$5.7M | |
| EXXONMOBIL HOLDINGS CORP | XOM | $28.4M | 207,414 | - | new | NEW | |
| TE CONNECTIVITY PLC | TEL | $27.5M | 136,176 | -0.03pp | 8q | -0.8%-$235.3K | |
| BLACKROCK INC | BLK | $27.1M | 28,220 | -0.02pp | 8q | -2.4%-$671.2K | |
| LINDE PLC | LIN | $26.8M | 51,703 | +0.01pp | 14q | +2.5%+$663.2K | |
| CHEVRON CORPORATION | CVX | $26.4M | 158,990 | -0.10pp | 18q | -1.9%-$513.5K | |
| VANECK ETF TRUST | EMLC | $26.2M | 1,025,001 | -0.01pp | 3q | HELD | |
| SPDR SERIES TRUST | SPHY | $26.0M | 1,107,255 | flat | 7q | +3.3%+$832.1K | |
| AMERICAN CENTY ETF TR | AVEM | $25.7M | 266,533 | +0.27pp | 2q | +645.0%+$22.3M | |
| COLGATE PALMOLIVE CO | CL | $25.1M | 273,802 | +0.04pp | 13q | +10.0%+$2.3M | |
| STATE STR SPDR S&P MIDCAP 40 | MDY | $25.0M | 35,518 | -0.16pp | 27q | -40.1%-$16.7M | |
| ISHARES TR | AGG | $25.0M | 252,075 | -0.01pp | 23q | -0.7%-$168.6K | |
| ILLINOIS TOOL WKS INC | ITW | $21.5M | 79,669 | +0.02pp | 17q | +9.9%+$1.9M | |
| CME GROUP INC | CME | $20.6M | 93,141 | -0.07pp | 25q | +8.8%+$1.7M | |
| PEPSICO INC | PEP | $20.5M | 151,539 | -0.11pp | 27q | -17.8%-$4.5M | |
| ABBVIE INC | ABBV | $20.0M | 79,651 | +0.08pp | 12q | +31.9%+$4.9M | |
| ECOLAB INC | ECL | $19.4M | 69,767 | +0.01pp | 27q | +4.0%+$748.6K | |
| ASML HLDG NV | ASML | $19.4M | 9,760 | +0.07pp | 23q | +1.3%+$258.6K | |
| TCW ETF TRUST | FLXR | $19.3M | 491,484 | +0.02pp | 5q | +15.1%+$2.5M | |
| MEDTRONIC PLC | MDT | $18.6M | 237,625 | -0.04pp | 27q | -2.6%-$498.7K | |
| ALCON AG | ALC | $18.6M | 276,512 | -0.06pp | 27q | -6.6%-$1.3M | |
| VANGUARD INDEX FDS | VV | $18.4M | 53,398 | +0.03pp | 27q | +6.8%+$1.2M | |
| PROCTER & GAMBLE CO | PG | $18.1M | 123,196 | -0.02pp | 27q | -5.0%-$952.9K | |
| UNITEDHEALTH GROUP INC | UNH | $17.6M | 42,380 | +0.07pp | 27q | +2.0%+$346.6K | |
| SCHWAB STRATEGIC TR | SCHD | $17.0M | 535,292 | flat | 27q | HELD | |
| GALLAGHER ARTHUR J CO | AJG | $16.6M | 72,448 | - | new | NEW | |
| SCHNEIDER ELECTRIC SE | SBGSY | $16.1M | 246,582 | +0.03pp | 3q | +2.7%+$429.6K | |
| CONOCOPHILLIPS | COP | $15.9M | 153,276 | -0.15pp | 12q | -27.2%-$6.0M | |
| ISHARES INC | EEMA | $15.8M | 135,190 | -0.25pp | 13q | -63.2%-$27.2M | |
| UNION PAC CORP | UNP | $15.6M | 57,293 | +0.01pp | 27q | -3.9%-$630.2K | |
| ISHARES TR | IEF | $15.4M | 162,986 | -0.02pp | 20q | -3.7%-$586.6K | |
| SCHWAB STRATEGIC TR | SCHR | $15.4M | 623,073 | -0.06pp | 22q | -20.1%-$3.9M | |
| MATADOR RES CO | MTDR | $14.9M | 298,756 | -0.04pp | 11q | +6.4%+$898.9K | |
| TRANSOCEAN LTD | RIG | $14.8M | 3,030,000 | -0.07pp | 27q | HELD | |
| VERTEX PHARMACEUTICALS INC | VRTX | $14.6M | 29,302 | +0.02pp | 27q | +7.0%+$951.2K | |
| ARMATA PHARMACEUTICALS INC | ARMP | $13.7M | 2,107,175 | -0.10pp | 2q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $13.6M | 27,243 | -0.01pp | 27q | -4.0%-$566.4K | |
| ARCHER DANIELS MIDLAND CO | ADM | $13.0M | 170,500 | flat | 27q | HELD | |
| SPDR SERIES TRUST | SPTI | $12.0M | 424,419 | -0.01pp | 5q | -1.8%-$223.9K | |
| SALESFORCE INC | CRM | $12.0M | 76,505 | -0.07pp | 3q | -17.4%-$2.5M | |
| WORKDAY INC | WDAY | $11.8M | 96,659 | flat | 3q | +10.1%+$1.1M | |
| AIR PRODUCTS AND CHEMICALS I | APD | $11.7M | 39,912 | -0.01pp | 17q | -1.7%-$204.9K | |
| BANK OF AMER CORP | BAC | $11.7M | 204,534 | +0.02pp | 12q | HELD | |
| MCDONALDS CORP | MCD | $11.6M | 42,878 | -0.03pp | 27q | -3.4%-$406.5K | |
| AUTOMATIC DATA PROCESSING IN | ADP | $10.8M | 48,439 | +0.03pp | 27q | +17.4%+$1.6M | |
| ISHARES TR | QLTA | $10.8M | 226,700 | +0.01pp | 13q | +14.6%+$1.4M | |
| SPDR SERIES TRUST | KBE | $10.8M | 157,868 | -0.12pp | 7q | -53.0%-$12.1M | |
| APA CORPORATION | APA | $10.7M | 328,600 | -0.05pp | 22q | HELD | |
| SEZZLE INC | SEZL | $10.6M | 61,679 | +0.08pp | 4q | -1.8%-$198.9K | |
| EOG RES INC | EOG | $10.5M | 80,794 | -0.03pp | 27q | -5.2%-$579.5K | |
| SPDR SERIES TRUST | SPMD | $10.2M | 150,364 | +0.08pp | 7q | +192.6%+$6.7M | |
| FASTENAL CO | FAST | $10.0M | 209,174 | -0.01pp | 27q | -3.8%-$399.3K | |
| WEST PHARMACEUTICAL SVSC INC | WST | $9.9M | 27,574 | - | new | NEW | |
| VANGUARD INTL EQUITY INDEX F | VGK | $9.5M | 106,755 | -0.04pp | 9q | -28.5%-$3.8M | |
| FREEPORT-MCMORAN INC | FCX | $8.7M | 137,797 | +0.04pp | 9q | +67.6%+$3.5M | |
| LAS VEGAS SANDS CORP | LVS | $8.6M | 185,500 | -0.01pp | 21q | +14.2%+$1.1M | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $8.5M | 17,721 | +0.03pp | 23q | HELD | |
| VANGUARD WORLD FD | VFH | $8.5M | 64,266 | flat | 7q | -1.8%-$156.1K | |
| SPDR SERIES TRUST | SPYM | $8.3M | 94,837 | +0.01pp | 8q | +5.2%+$409.3K | |
| SELECT SECTOR SPDR TR | XLV | $8.3M | 52,330 | - | new | NEW | |
| CONSTELLATION BRANDS INC | STZ | $8.2M | 58,900 | -0.01pp | 15q | HELD | |
| KNOWLES CORP | KN | $8.2M | 197,472 | +0.03pp | 7q | -4.8%-$409.8K | |
| MORGAN STANLEY | MS | $7.9M | 37,780 | +0.01pp | 17q | -11.7%-$1.0M | |
| GMO ETF TRUST | QLTY | $7.8M | 188,161 | +0.01pp | 7q | +1.2%+$92.3K | |
| VANGUARD INDEX FDS | VUG | $7.4M | 85,913 | +0.02pp | 8q | +17.4%+$1.1M | |
| ENCOMPASS HEALTH CORP | EHC | $7.3M | 72,599 | flat | 27q | HELD | |
| GLOBAL X FDS | MLPA | $7.3M | 138,095 | -0.04pp | 11q | -25.8%-$2.5M | |
| HAYWARD HLDGS INC | HAYW | $7.3M | 420,701 | +0.02pp | 12q | HELD | |
| SCOTTS MIRACLE GRO CO | SMG | $7.2M | 105,163 | +0.01pp | 13q | HELD | |
| ADOBE INC | ADBE | $7.1M | 34,654 | -0.02pp | 27q | HELD | |
| ISHARES TR | IEFA | $7.0M | 72,252 | +0.04pp | 27q | +109.0%+$3.6M | |
| AES CORP | AES | $6.6M | 447,000 | -0.02pp | 21q | -18.7%-$1.5M | |
| T MOBILE US INC | TMUS | $6.4M | 38,112 | -0.02pp | 22q | HELD | |
| NEWMONT CORP | NEM | $6.3M | 67,500 | +0.02pp | 2q | +66.7%+$2.5M | |
| PAYPAL HLDGS INC | PYPL | $6.3M | 144,800 | -0.01pp | 20q | HELD | |
| ISHARES TR | IVV | $6.1M | 8,152 | +0.01pp | 27q | +10.5%+$579.6K | |
| WASTE MGMT INC DEL | WM | $6.0M | 26,751 | +0.06pp | 27q | +505.4%+$5.0M | |
| PFIZER INC | PFE | $5.8M | 242,132 | -0.01pp | 27q | HELD | |
| NVIDIA CORPORATION | NVDA | $5.6M | 27,969 | +0.01pp | 14q | +9.0%+$459.8K | |
| CORE & MAIN INC | CNM | $5.6M | 115,865 | flat | 13q | HELD | |
| HEALTHEQUITY INC | HQY | $5.5M | 60,491 | flat | 12q | HELD | |
| ROCKWELL AUTOMATION INC | ROK | $5.4M | 10,967 | +0.01pp | 7q | -4.6%-$263.4K | |
| FISERV INC | FISV | $5.4M | 110,600 | -0.01pp | 23q | HELD | |
| ELEVANCE HEALTH INC FORMERLY | ELV | $5.3M | 13,746 | +0.01pp | 13q | -7.9%-$454.8K | |
| EMERSON ELEC CO | EMR | $5.3M | 36,893 | - | new | NEW | |
| ALPHABET INC | GOOGL | $5.1M | 14,214 | +0.01pp | 27q | -0.6%-$28.2K | |
| CVS HEALTH CORP | CVS | $5.0M | 48,550 | -0.05pp | 27q | -61.7%-$8.1M | |
| WEYERHAEUSER CO | WY | $5.0M | 207,000 | flat | 4q | HELD | |
| HERSHEY CO | HSY | $4.9M | 28,026 | -0.02pp | 27q | -5.3%-$276.5K | |
| GLOBAL X FDS | PAVE | $4.8M | 81,210 | +0.01pp | 2q | HELD | |
| COMMVAULT SYS INC | CVLT | $4.7M | 33,284 | +0.02pp | 27q | -0.5%-$24.8K | |
| MURATA MANUFACTURING CO LTD UN | MRAAY | $4.7M | 128,609 | +0.03pp | 17q | -32.0%-$2.2M | |
| AMERICAN TOWER CORP | AMT | $4.6M | 28,300 | -0.01pp | 27q | -0.9%-$43.8K | |
| SELECT SECTOR SPDR TR | XLE | $4.6M | 85,919 | - | new | NEW | |
| ACCENTURE PLC IRELAND | ACN | $4.5M | 36,225 | -0.16pp | 27q | -58.1%-$6.3M | |
| TEXAS CAP BANCSHARES INC | TCBI | $4.4M | 43,065 | flat | 9q | HELD | |
| WORKIVA INC | WK | $4.4M | 89,980 | +0.01pp | 8q | +45.7%+$1.4M | |
| WW GRAINGER INC | GWW | $4.3M | 3,125 | +0.01pp | 17q | -1.5%-$62.6K | |
| AMGEN INC | AMGN | $4.2M | 11,539 | flat | 27q | HELD | |
| ISHARES TR | IQLT | $4.1M | 83,599 | flat | 19q | HELD | |
| CRANE COMPANY | CR | $4.1M | 18,215 | +0.01pp | 13q | HELD | |
| GITLAB INC | GTLB | $4.1M | 133,025 | +0.02pp | 3q | +21.5%+$719.4K | |
| ISHARES TR | IEI | $4.1M | 34,571 | -0.01pp | 21q | -7.6%-$333.2K | |
| ASTRAZENECA PLC | AZN | $4.0M | 21,310 | flat | 2q | -0.6%-$23.9K | |
| PROLOGIS INC. | PLD | $4.0M | 29,581 | flat | 3q | +8.7%+$320.4K | |
| LASERTEC C | LSRCY | $4.0M | 62,444 | +0.01pp | 17q | -0.5%-$20.7K | |
| ENTEGRIS INC | ENTG | $3.9M | 21,906 | +0.01pp | 27q | -24.0%-$1.2M | |
| SYNOPSYS INC | SNPS | $3.9M | 8,818 | flat | 2q | HELD | |
| FRANKLIN TEMPLETON ETF TR | FLJP | $3.9M | 98,512 | -0.05pp | 13q | -54.3%-$4.6M | |
| CAMECO CORP | CCJ | $3.9M | 38,420 | -0.01pp | 23q | -8.9%-$382.5K | |
| V F CORP | VFC | $3.9M | 234,571 | flat | 7q | HELD | |
| AAON INC | AAON | $3.9M | 30,486 | +0.01pp | 3q | HELD | |
| LEONARDO DRS INC | DRS | $3.8M | 90,165 | flat | 13q | HELD | |
| POWER INTEGRATIONS INC | POWI | $3.8M | 45,678 | -0.02pp | 21q | -55.6%-$4.8M | |
| AIRBUS SE UNSPONSORED ADR | EADSY | $3.8M | 68,768 | +0.01pp | 17q | +10.7%+$370.4K | |
| HANOVER INS GROUP INC | THG | $3.8M | 17,777 | +0.01pp | 5q | HELD | |
| CHARLES RIV LABS INTL INC | CRL | $3.8M | 16,777 | +0.01pp | 4q | HELD | |
| NU HLDGS LTD | NU | $3.7M | 280,542 | +0.01pp | 4q | +29.0%+$842.9K | |
| VANGUARD INDEX FDS | VOO | $3.7M | 5,323 | flat | 5q | -2.2%-$81.7K | |
| BOX INC | BOX | $3.6M | 136,011 | flat | 27q | -0.5%-$18.8K | |
| EDGEWELL PERSONAL CARE CO | EPC | $3.6M | 133,998 | +0.01pp | 27q | HELD | |
| Tokyo Electron Ltd | TOELY | $3.6M | 14,759 | +0.02pp | 3q | +13.7%+$431.3K | |
| REGENERON PHARMACEUTICALS | REGN | $3.6M | 5,729 | -0.01pp | 17q | -1.0%-$34.3K | |
| 2023 ETF SERIES TRUST | BINV | $3.6M | 85,134 | flat | 4q | +8.0%+$263.2K | |
| AXIS CAP HLDGS LTD | AXS | $3.5M | 32,829 | flat | 25q | -8.9%-$342.7K | |
| PRIMO BRANDS CORPORATION | PRMB | $3.5M | 143,301 | +0.01pp | 7q | HELD | |
| CTS CORP | CTS | $3.5M | 53,724 | flat | 18q | -25.5%-$1.2M | |
| DULUTH HLDGS INC | DLTH | $3.4M | 762,777 | +0.01pp | 18q | HELD | |
| MIRION TECHNOLOGIES INC | MIR | $3.4M | 190,001 | +0.01pp | 3q | +52.8%+$1.2M | |
| NIKE INC | NKE | $3.4M | 82,102 | -0.02pp | 17q | -12.1%-$463.1K | |
| SPDR SERIES TRUST | SPTS | $3.4M | 115,561 | -0.01pp | 11q | -18.6%-$765.1K | |
| TENCENT HOLDINGS LTD. - UNS AD | TCEHY | $3.3M | 60,205 | +0.01pp | 17q | +56.6%+$1.2M | |
| HEXCEL CORP NEW | HXL | $3.3M | 32,683 | +0.01pp | 4q | HELD | |
| SHAKE SHACK INC | SHAK | $3.2M | 57,938 | -0.02pp | 25q | HELD | |
| STRYKER CORPORATION | SYK | $3.2M | 10,231 | - | new | NEW | |
| MADISON AIR SOLUTIONS CORP | MAIR | $3.2M | 82,427 | - | new | NEW | |
| MITSUBISHI UFJ FINANCIAL GRO | MUFG | $3.2M | 158,993 | flat | 8q | -0.5%-$16.8K | |
| Wal-Mart De Mexico ADR | WMMVY | $3.1M | 105,001 | flat | 17q | +16.2%+$431.6K | |
| Ping An Insurance (Group) Company of China, Ltd (PNGAY) | PNGAY | $3.1M | 236,046 | -0.01pp | 17q | HELD | |
| VIAVI SOLUTIONS INC | VIAV | $3.1M | 64,137 | flat | 3q | -30.7%-$1.4M | |
| MERCK & CO INC | MRK | $3.1M | 23,786 | flat | 27q | HELD | |
| ADVANCED DRAIN SYS INC DEL | WMS | $3.1M | 19,452 | flat | 5q | HELD | |
| EXTREME NETWORKS INC | EXTR | $3.0M | 93,797 | - | new | NEW | |
| PROCORE TECHNOLOGIES INC | PCOR | $3.0M | 74,738 | +0.01pp | 2q | +89.9%+$1.4M | |
| AIA Group Ltd Sp ADR | AAGIY | $3.0M | 82,009 | -0.01pp | 17q | HELD | |
| YUM CHINA HLDGS INC | YUMC | $3.0M | 73,095 | +0.01pp | 4q | +114.1%+$1.6M | |
| COMCAST CORP NEW | CMCSA | $3.0M | 120,300 | -0.01pp | 27q | HELD | |
| REVOLVE GROUP INC | RVLV | $2.9M | 128,699 | flat | 23q | HELD | |
| Kerry Group Plc Sponsored Adr | KRYAY | $2.9M | 31,751 | flat | 17q | HELD | |
| VANGUARD SPECIALIZED FUNDS | VIG | $2.8M | 12,022 | flat | 27q | +6.7%+$177.7K | |
| ISHARES TR | GVI | $2.8M | 26,482 | +0.02pp | 2q | +137.5%+$1.6M | |
| adidas AG | ADDYY | $2.8M | 27,345 | +0.01pp | 17q | +13.3%+$330.3K | |
| SOUTHERN COPPER CORP | SCCO | $2.8M | 15,900 | flat | 23q | +0.8%+$22.7K | |
| BRP GROUP INC CLASS A | BWIN | $2.8M | 103,470 | flat | 16q | HELD | |
| INVESCO EXCHANGE TRADED FD T | RSP | $2.7M | 12,760 | +0.01pp | 3q | +46.7%+$864.1K | |
| SIEMENS AG-SPONS ADR | SIEGY | $2.7M | 16,806 | +0.01pp | 17q | -0.5%-$14.0K | |
| ICU MED INC | ICUI | $2.7M | 18,088 | flat | 2q | HELD | |
| MUELLER WTR PRODS INC | MWA | $2.6M | 101,148 | flat | 10q | HELD | |
| ETF SER SOLUTIONS | DSMC | $2.6M | 64,391 | flat | 10q | +3.7%+$93.8K | |
| US BANCORP | USB | $2.6M | 42,418 | flat | 27q | -3.9%-$104.1K | |
| Daiichi Sankyo Co., Ltd. - ADR | DSNKY | $2.5M | 157,556 | flat | 11q | HELD | |
| COCA COLA CO | KO | $2.5M | 30,702 | flat | 26q | HELD | |
| HDFC BANK LTD | HDB | $2.5M | 95,877 | flat | 23q | HELD | |
| SITEONE LANDSCAPE SUPPLY INC | SITE | $2.4M | 21,075 | +0.01pp | 2q | +61.5%+$918.6K | |
| AMPLITUDE INC | AMPL | $2.4M | 312,399 | flat | 3q | -0.5%-$12.7K | |
| FORMFACTOR INC | FORM | $2.4M | 14,808 | flat | 20q | -38.6%-$1.5M | |
| PRUDENTIAL PLC | PUK | $2.4M | 88,248 | flat | 23q | HELD | |
| EAGLE MATLS INC | EXP | $2.4M | 10,462 | flat | 4q | HELD | |
| STANDARD CHARTERED PLC UNSPON | SCBFY | $2.3M | 42,447 | +0.01pp | 4q | +13.8%+$280.8K | |
| INDIE SEMICONDUCTOR INC | INDI | $2.3M | 514,463 | - | new | NEW | |
| ITAU UNIBANCO HLDG S A | ITUB | $2.3M | 280,063 | flat | 22q | -0.5%-$11.9K | |
| CRANE NXT CO | CXT | $2.3M | 44,650 | flat | 17q | -0.5%-$11.8K | |
| CANADIAN PACIFIC KANSAS CITY | CP | $2.3M | 26,311 | flat | 14q | HELD | |
| INVESCO EXCHANGE TRADED FD T | PKW | $2.2M | 15,839 | flat | 27q | HELD | |
| VERICEL CORP | VCEL | $2.2M | 50,116 | +0.01pp | 3q | HELD | |
| PAN PACIFI | DQJCY | $2.2M | 215,902 | flat | 17q | +14.4%+$276.5K | |
| NXP SEMICONDUCTORS N V | NXPI | $2.2M | 7,753 | +0.01pp | 23q | HELD | |
| IRON MTN INC DEL | IRM | $2.2M | 17,052 | flat | 27q | HELD | |
| CARLSBERG AS SPONSORED ADR | CABGY | $2.1M | 79,978 | flat | 6q | -0.5%-$10.8K | |
| BUNGE GLOBAL SA | BG | $2.1M | 19,456 | +0.02pp | 2q | +226.0%+$1.4M | |
| SPDR SERIES TRUST | SDY | $2.0M | 13,236 | flat | 27q | +0.7%+$14.9K | |
| Norsk Hydro Asa Adr-Each Cnv Into 1 Ord Nok1.098 | NHYDY | $2.0M | 217,421 | -0.01pp | 17q | -13.4%-$304.5K | |
| SAP SE | SAP | $2.0M | 12,686 | flat | 23q | +41.2%+$570.7K | |
| GENMAB A/S | GMAB | $1.9M | 70,781 | flat | 23q | HELD | |
| S&P GLOBAL INC | SPGI | $1.9M | 4,766 | flat | 23q | +32.4%+$474.9K | |
| SHIN ETSU CHEMICAL CO LTD ADR | SHECF | $1.9M | 88,343 | flat | 16q | HELD | |
| ABRDN ETFS | BCD | $1.9M | 55,844 | flat | 4q | +22.1%+$345.6K | |
| SCHWAB STRATEGIC TR | FNDX | $1.9M | 60,771 | flat | 27q | HELD | |
| BELDEN INC | BDC | $1.8M | 15,336 | - | new | NEW | |
| OLLIES BARGAIN OUTLET HLDGS | OLLI | $1.8M | 23,042 | -0.01pp | 15q | HELD | |
| CELANESE CORP DEL | CE | $1.8M | 38,427 | - | new | NEW | |
| ISHARES TR | IWM | $1.8M | 5,855 | flat | 24q | HELD | |
| FOMENTO ECONOMICO MEXICANO S | FMX | $1.7M | 13,499 | flat | 13q | -19.1%-$407.0K | |
| WISE GROUP PLC | WSE | $1.7M | 144,869 | - | new | NEW | |
| Sika AG | SXYAY | $1.7M | 81,533 | flat | 17q | HELD | |
| PRADA SpA - Unspons ADR | PRDSY | $1.6M | 163,473 | flat | 5q | +24.2%+$319.5K | |
| INFOSYS LTD | INFY | $1.6M | 154,225 | flat | 22q | +24.2%+$315.1K | |
| ISHARES TR | IWR | $1.6M | 14,618 | +0.01pp | 8q | +49.9%+$536.6K | |
| KION GROUP AG ADR | KIGRY | $1.6M | 145,417 | flat | 17q | -0.5%-$8.7K | |
| SONY GROUP CORP | SONY | $1.6M | 79,324 | flat | 23q | HELD | |
| TORAY INDS INC ADR | TRYIY | $1.6M | 113,406 | flat | 17q | -0.5%-$8.5K | |
| PALO ALTO NETWORKS INC | PANW | $1.6M | 4,572 | +0.01pp | 2q | +1.5%+$22.5K | |
| SFGYY | SFGYY | $1.5M | 355,678 | flat | 3q | HELD | |
| SHELL PLC | SHEL | $1.5M | 19,742 | flat | 18q | +22.5%+$281.3K | |
| Lonza Group AG ADR | LZAGY | $1.5M | 22,283 | flat | 16q | -0.5%-$8.0K | |
| SLB LIMITED | SLB | $1.5M | 32,065 | flat | 3q | HELD | |
| CUMMINS INC | CMI | $1.5M | 2,048 | -0.05pp | 11q | -78.6%-$5.4M | |
| Air Liquide ADR | AIQUY | $1.4M | 35,520 | flat | 17q | +9.0%+$116.3K | |
| WILLSCOT MOBILE MINI HLDCLASS A | WSC | $1.3M | 45,772 | +0.01pp | 24q | HELD | |
| ADYEN NV | ADYEY | $1.3M | 140,879 | flat | 2q | +22.9%+$244.2K | |
| CATERPILLAR INC | CAT | $1.3M | 1,223 | flat | 27q | -32.0%-$613.4K | |
| VANGUARD SCOTTSDALE FDS | VCSH | $1.3M | 16,090 | -0.07pp | 27q | -82.3%-$5.9M | |
| ISHARES TR | IWF | $1.2M | 9,760 | flat | 27q | HELD | |
| Anglo American Plc Sp Adr | NGLOY | $1.2M | 48,297 | flat | 2q | HELD | |
| HERMES INTERNATIONAL-ADR | HESAY | $1.2M | 6,452 | flat | 5q | HELD | |
| Deutsche Telekom Ag | DTEGY | $1.1M | 41,314 | -0.02pp | 17q | -44.7%-$911.6K | |
| CISCO SYS INC | CSCO | $984.7K | 8,383 | flat | 27q | +1.5%+$14.8K | |
| LUMEN TECHNOLOGIES INC | LUMN | $952.3K | 124,000 | flat | 23q | HELD | |
| STATE STR CORP | STT | $939.2K | 5,538 | flat | 3q | -0.7%-$6.4K | |
| GENERAL DYNAMICS CORP | GD | $931.7K | 2,630 | flat | 17q | HELD | |
| AFLAC INC | AFL | $915.8K | 7,811 | +0.01pp | 22q | +136.3%+$528.3K | |
| WELLS FARGO & CO | WFC | $904.9K | 10,950 | flat | 17q | -4.0%-$38.1K | |
| OLIN CORP | OLN | $901.8K | 45,501 | -0.02pp | 27q | -52.9%-$1.0M | |
| GARMIN LTD | GRMN | $867.3K | 3,651 | flat | 17q | -3.9%-$35.2K | |
| VANGUARD INDEX FDS | VB | $813.3K | 2,683 | flat | 7q | -7.3%-$63.7K | |
| MASTERCARD INCORPORATED | MA | $752.4K | 1,465 | flat | 17q | +1.2%+$9.2K | |
| ISHARES INC | IEMG | $748.0K | 9,030 | flat | 3q | HELD | |
| SCHWAB STRATEGIC TR | SCHF | $703.0K | 25,380 | flat | 7q | HELD | |
| EATON CORP PLC | ETN | $701.0K | 1,645 | flat | 2q | +65.2%+$276.6K | |
| RTX CORPORATION | RTX | $677.7K | 3,572 | flat | 6q | +0.5%+$3.4K | |
| TRAVELERS COMPANIES INC | TRV | $593.6K | 1,798 | flat | 27q | -6.5%-$40.9K | |
| MARKEL GROUP INC | MKL | $548.8K | 281 | flat | 27q | +0.7%+$3.9K | |
| ALLSTATE CORP | ALL | $543.7K | 2,285 | -0.01pp | 27q | -61.3%-$862.3K | |
| ABBOTT LABORATORIES | ABT | $543.4K | 5,989 | -0.10pp | 12q | -92.7%-$6.9M | |
| VERIZON COMMUNICATIONS INC | VZ | $543.1K | 12,828 | flat | 3q | HELD | |
| GLOBAL X FDS | AIQ | $536.2K | 8,173 | flat | 6q | HELD | |
| GILEAD SCIENCES INC | GILD | $505.4K | 4,000 | flat | 27q | HELD | |
| INVESCO EXCH TRADED FD TR II | XSHQ | $504.2K | 10,428 | -0.01pp | 7q | -51.1%-$526.5K | |
| BOEING CO | BA | $495.7K | 2,290 | flat | 2q | HELD | |
| ISHARES TR | IWP | $450.6K | 3,078 | flat | 23q | HELD | |
| ALLIANT ENERGY CORP | LNT | $448.8K | 5,883 | flat | 27q | -8.5%-$41.8K | |
| ISHARES TR | IWB | $436.9K | 1,067 | flat | 8q | HELD | |
| ISHARES TR | IWO | $406.6K | 1,032 | flat | 23q | HELD | |
| VANGUARD INDEX FDS | VO | $387.4K | 4,808 | flat | 6q | -21.9%-$108.9K | |
| SEAGATE TECHNOLOGY HLDNGS PL | STX | $386.0K | 400 | - | new | NEW | |
| NUCOR CORP | NUE | $374.0K | 1,679 | flat | 22q | HELD | |
| NESTLE SA SPONSORED ADR | NSRGY | $369.4K | 3,597 | flat | 27q | -1.2%-$4.4K | |
| VANGUARD INTL EQUITY INDEX F | VWO | $349.2K | 5,851 | flat | 7q | HELD | |
| CORNING INC | GLW | $347.6K | 1,361 | flat | 2q | -14.8%-$60.5K | |
| WALMART INC | WMT | $341.1K | 3,012 | flat | 9q | HELD | |
| ISHARES TR | MBB | $332.6K | 3,519 | flat | 13q | HELD | |
| GOLDMAN SACHS ETF TR | JUST | $311.1K | 2,916 | flat | 3q | HELD | |
| BANK OF MONTREAL | BMO | $300.7K | 1,702 | flat | 4q | HELD | |
| INVESCO QQQ TR | QQQ | $294.6K | 400 | flat | 5q | HELD | |
| CAPITAL ONE FINL CORP | COF | $285.1K | 1,421 | flat | 5q | -51.5%-$302.3K | |
| MGE ENERGY INC | MGEE | $255.9K | 3,138 | flat | 19q | HELD | |
| ORACLE CORP | ORCL | $253.1K | 1,727 | flat | 15q | -30.1%-$109.0K | |
| PHILIP MORRIS INTL INC | PM | $252.0K | 1,393 | flat | 5q | HELD | |
| ALTRIA GROUP INC | MO | $232.4K | 3,230 | flat | 2q | HELD | |
| ISHARES TR | TFLO | $226.5K | 4,473 | flat | 17q | -0.7%-$1.5K | |
| CSX CORP | CSX | $212.7K | 4,475 | flat | 15q | -27.7%-$81.4K | |
| ISHARES TR | IWS | $203.1K | 1,234 | - | new | NEW | |
| BLACKSTONE INC | BX | $202.5K | 1,721 | - | new | NEW |
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 |
|---|---|---|
| Retail & Consumer | $1.1B | 12.6% |
| Insurance | $853.2M | 10.2% |
| Semiconductors & Electronics | $717.1M | 8.6% |
| Software & IT Services | $628.1M | 7.5% |
| Biotech & Pharma | $572.3M | 6.8% |
| Autos & Aerospace | $467.5M | 5.6% |
| Instruments & Controls | $374.5M | 4.5% |
| Capital Markets | $353.4M | 4.2% |
| Business Services | $337.0M | 4.0% |
| Chemicals | $281.1M | 3.4% |
| Industrials | $239.7M | 2.9% |
| Banks & Lending | $202.3M | 2.4% |
| Other sectors | $1.2B | 14.2% |
| Not classified | $1.1B | 13.3% |
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 |
|---|---|---|---|---|
| Q2 2026 | +8.4% | +14.8% | -6.5% | 98% |
| Q1 2026 | -2.8% | -4.6% | +1.8% | 98% |
| Q4 2025 | +0.6% | +2.4% | -1.7% | 99% |
| Q3 2025 | +1.7% | +7.8% | -6.1% | 99% |
| Q2 2025 | +4.5% | +10.5% | -5.9% | 99% |
| Q1 2025 | -3.0% | -4.6% | +1.5% | 99% |
| Q4 2024 | -2.0% | +2.1% | -4.1% | 98% |
| Q3 2024 | +7.0% | +5.4% | +1.6% | 98% |
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 |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $8.4B | 347 | 20 | 92 | 143 | 22 | 23.0% | 41 |
| Q1 2026 | $8.1B | 349 | 23 | 120 | 160 | 15 | 23.9% | 37 |
| Q4 2025 | $8.7B | 341 | 26 | 84 | 178 | 21 | 24.9% | 35 |
| Q3 2025 | $9.1B | 336 | 18 | 71 | 183 | 20 | 26.2% | 37 |
| Q2 2025 | $9.3B | 338 | 23 | 78 | 164 | 34 | 26.7% | 42 |
| Q1 2025 | $9.0B | 349 | 34 | 114 | 153 | 20 | 26.4% | 36 |
| Q4 2024 | $8.9B | 335 | 22 | 92 | 162 | 15 | 26.1% | 41 |
| Q3 2024 | $8.9B | 328 | 18 | 94 | 162 | 16 | 24.8% | 43 |
| Q2 2024 | $8.1B | 326 | 13 | 104 | 157 | 17 | 25.7% | 40 |
| Q1 2024 | $8.1B | 330 | 16 | 108 | 138 | 7 | 25.2% | 39 |
| Q4 2023 | $7.4B | 321 | 16 | 116 | 141 | 16 | 22.6% | 43 |
| Q3 2023 | $6.8B | 321 | 20 | 99 | 133 | 13 | 21.7% | 44 |
| Q2 2023 | $6.9B | 314 | 22 | 69 | 146 | 7 | 21.0% | 32 |
| Q1 2023 | $6.6B | 299 | 10 | 100 | 149 | 28 | 21.9% | 26 |
| Q4 2022 | $6.4B | 317 | 15 | 92 | 146 | 35 | 21.4% | 39 |
| Q3 2022 | $5.9B | 337 | 11 | 122 | 139 | 36 | 19.6% | 41 |
| Q2 2022 | $6.4B | 362 | 74 | 104 | 143 | 25 | 20.4% | 40 |
| Q1 2022 | $7.0B | 313 | 17 | 81 | 152 | 19 | 21.4% | 42 |
| Q4 2021 | $7.6B | 315 | 22 | 75 | 181 | 16 | 20.3% | 46 |
| Q3 2021 | $7.3B | 309 | 20 | 104 | 118 | 24 | 19.4% | 43 |
| Q2 2021 | $7.4B | 313 | 19 | 98 | 127 | 16 | 19.1% | 40 |
| Q1 2021 | $7.2B | 310 | 34 | 75 | 156 | 21 | 19.1% | 41 |
| Q4 2020 | $6.8B | 297 | 49 | 84 | 83 | 18 | 20.0% | 43 |
| Q3 2020 | $6.0B | 266 | 19 | 63 | 135 | 15 | 20.9% | 43 |
| Q2 2020 | $5.7B | 262 | 28 | 80 | 85 | 35 | 19.8% | 44 |
| Q1 2020 | $4.9B | 269 | 15 | 108 | 101 | 38 | 19.6% | 42 |
| Q4 2019 | $6.5B | 292 | 0 | 0 | 0 | 0 | 19.2% | 43 |
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.