DaveManuel.com · Institutional Ownership · 13F Holdings
First Business Financial Services, Inc.
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| VANGUARD INDEX FDS | VTI | $297.6M | 795,217 | +0.43pp | 32q | HELD | |
| ISHARES TR | IEFA | $151.2M | 1,560,371 | +0.07pp | 32q | HELD | |
| ISHARES TR | IWF | $92.2M | 735,798 | +0.15pp | 32q | +0.5%+$490.3K | |
| ISHARES TR | IJR | $68.5M | 503,295 | -0.43pp | 32q | HELD | |
| ISHARES TR | IWD | $65.6M | 264,391 | +0.12pp | 32q | -0.5%-$358.0K | |
| ISHARES TR | DGRO | $63.9M | 847,306 | +0.06pp | 18q | +1.0%+$621.6K | |
| ISHARES TR | AGG | $40.0M | 422,624 | +0.14pp | 32q | +8.7%+$3.2M | |
| STATE STR SPDR S&P 500 ETF T | SPY | $33.3M | 43,684 | +0.07pp | 32q | HELD | |
| NVIDIA CORPORATION | NVDA | $24.0M | 104,999 | +0.28pp | 25q | +2.4%+$560.2K | |
| FIRST BUSINESS FINL SVCS INC | FBIZ | $22.5M | 327,189 | +0.09pp | 32q | -3.8%-$894.1K | |
| J P MORGAN EXCHANGE TRADED F | JPST | $20.1M | 398,326 | +0.14pp | 16q | +9.5%+$1.7M | |
| APPLE INC | AAPL | $18.8M | 56,428 | +0.12pp | 32q | -5.9%-$1.2M | |
| ISHARES TR | IJH | $17.0M | 236,538 | -2.93pp | 32q | -66.8%-$34.2M | |
| ALPHABET INC | GOOGL | $15.4M | 44,847 | flat | 32q | +2.9%+$432.9K | |
| BROADCOM INC | AVGO | $15.0M | 42,796 | -0.03pp | 32q | +3.8%+$543.6K | |
| ARISTA NETWORKS INC | ANET | $14.3M | 70,066 | +0.21pp | 8q | +1.9%+$267.9K | |
| JPMORGAN CHASE & CO | JPM | $12.2M | 36,835 | +0.03pp | 32q | +2.0%+$236.2K | |
| LAM RESEARCH CORP | LRCX | $11.5M | 34,990 | -0.19pp | 8q | +7.6%+$813.1K | |
| FLEXSHARES TR | GUNR | $10.6M | 188,023 | - | new | NEW | |
| CIENA CORP | CIEN | $10.2M | 28,916 | -0.30pp | 14q | HELD | |
| ISHARES TR | IGF | $10.0M | 162,671 | - | new | NEW | |
| QUANTA SVCS INC | PWR | $10.0M | 15,502 | -0.09pp | 30q | -0.6%-$59.1K | |
| MICROSOFT CORP | MSFT | $9.9M | 19,341 | +0.24pp | 32q | +3.7%+$357.5K | |
| VANGUARD MALVERN FDS | VTIP | $8.2M | 166,177 | +0.05pp | 3q | +10.7%+$787.8K | |
| ELI LILLY & CO | LLY | $7.8M | 6,780 | -0.01pp | 28q | +2.1%+$159.7K | |
| SELECT SECTOR SPDR TR | XLK | $7.1M | 36,498 | +0.02pp | 27q | HELD | |
| ISHARES TR | IVV | $6.6M | 8,660 | +0.02pp | 32q | HELD | |
| ISHARES TR | MTUM | $6.5M | 20,335 | -0.04pp | 27q | HELD | |
| ISHARES TR | MUB | $6.0M | 59,706 | +0.01pp | 8q | +9.1%+$502.5K | |
| ANALOG DEVICES INC | ADI | $5.6M | 14,174 | +0.01pp | 32q | +2.2%+$119.0K | |
| CITIGROUP INC | C | $5.5M | 42,301 | -0.02pp | 22q | +2.0%+$109.8K | |
| EXXONMOBIL HOLDINGS CORP | XOM | $5.0M | 30,981 | - | new | NEW | |
| NUCOR CORP | NUE | $4.9M | 20,826 | +0.03pp | 6q | +1.8%+$86.3K | |
| CENCORA INC | COR | $4.8M | 16,062 | +0.03pp | 32q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKA | $4.5M | 6 | flat | 7q | HELD | |
| BANK OF AMER CORP | BAC | $4.4M | 81,239 | -0.01pp | 26q | +1.5%+$65.8K | |
| COSTCO WHOLESALE CORPORATION | COST | $4.4M | 4,803 | flat | 26q | +1.7%+$72.8K | |
| TEXAS INSTRS INC | TXN | $4.0M | 14,267 | -0.01pp | 32q | +2.1%+$83.5K | |
| GENERAL DYNAMICS CORP | GD | $3.5M | 10,698 | -0.01pp | 18q | +3.9%+$131.7K | |
| EQUINIX INC | EQIX | $3.5M | 3,494 | flat | 10q | +2.2%+$76.9K | |
| TIDAL TRUST II | RSSB | $3.5M | 118,614 | -0.01pp | 3q | HELD | |
| COCA COLA CO | KO | $3.5M | 40,332 | +0.02pp | 32q | +1.4%+$48.2K | |
| EXPEDIA GROUP INC | EXPE | $3.4M | 12,976 | +0.02pp | 28q | +2.4%+$80.6K | |
| AMAZON COM INC | AMZN | $3.4M | 13,619 | +0.03pp | 26q | +5.7%+$182.4K | |
| SELECT SECTOR SPDR TR | XLE | $3.3M | 54,244 | +0.04pp | 27q | HELD | |
| PRUDENTIAL FINL INC | PRU | $3.3M | 29,137 | +0.02pp | 18q | +2.1%+$67.8K | |
| CISCO SYS INC | CSCO | $3.1M | 28,338 | -0.04pp | 32q | -8.7%-$290.6K | |
| GENERAC HLDGS INC | GNRC | $3.0M | 14,635 | +0.22pp | 2q | +1990.7%+$2.9M | |
| T MOBILE US INC | TMUS | $2.9M | 18,027 | flat | 28q | +3.2%+$90.3K | |
| INTERCONTINENTAL EXCHANGE IN | ICE | $2.9M | 18,931 | +0.05pp | 32q | +6.3%+$170.9K | |
| STRYKER CORPORATION | SYK | $2.8M | 10,294 | -0.02pp | 32q | +2.7%+$74.1K | |
| TJX COS INC NEW | TJX | $2.8M | 21,118 | -0.02pp | 32q | +4.8%+$126.9K | |
| NEXTERA ENERGY INC | NEE | $2.7M | 35,424 | -0.03pp | 29q | +2.2%+$58.0K | |
| IQVIA HLDGS INC | IQV | $2.6M | 9,760 | +0.06pp | 14q | +4.5%+$112.9K | |
| TOLL BROTHERS INC | TOL | $2.6M | 18,995 | -0.03pp | 6q | +5.0%+$122.5K | |
| ALPHABET INC | GOOG | $2.4M | 7,030 | -0.01pp | 32q | HELD | |
| ADVANCED MICRO DEVICES INC | AMD | $2.4M | 3,868 | +0.02pp | 22q | +7.4%+$164.0K | |
| SELECT SECTOR SPDR TR | XLI | $2.3M | 14,013 | -0.02pp | 27q | HELD | |
| DARDEN RESTAURANTS INC | DRI | $2.2M | 11,392 | -0.01pp | 28q | +2.7%+$57.2K | |
| DOORDASH INC | DASH | $2.0M | 10,993 | - | new | NEW | |
| PHILIP MORRIS INTL INC | PM | $2.0M | 10,514 | +0.01pp | 32q | HELD | |
| SLB LIMITED | SLB | $2.0M | 41,016 | +0.01pp | 20q | +1.6%+$31.6K | |
| OSHKOSH CORP | OSK | $2.0M | 15,423 | -0.02pp | 6q | +4.4%+$83.1K | |
| QUALCOMM INC | QCOM | $2.0M | 10,779 | flat | 28q | +2.2%+$42.9K | |
| PALANTIR TECHNOLOGIES INC | PLTR | $2.0M | 10,448 | +0.07pp | 20q | +19.3%+$316.1K | |
| LOWES COS INC | LOW | $1.9M | 10,450 | -0.02pp | 32q | +7.4%+$133.4K | |
| ABBVIE INC | ABBV | $1.8M | 7,067 | +0.01pp | 26q | HELD | |
| HOWMET AEROSPACE INC | HWM | $1.8M | 8,057 | -0.02pp | 2q | +5.5%+$94.8K | |
| ISHARES TR | IWB | $1.8M | 4,244 | flat | 32q | HELD | |
| SPDR GOLD TR | GLD | $1.8M | 4,607 | +0.02pp | 31q | +8.5%+$137.1K | |
| AMERICAN ELEC PWR CO INC | AEP | $1.7M | 14,182 | -0.02pp | 5q | +2.4%+$40.0K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $1.7M | 3,359 | +0.02pp | 20q | +18.4%+$259.4K | |
| KROGER CO | KR | $1.7M | 28,340 | +0.01pp | 32q | +2.8%+$44.7K | |
| NETFLIX INC. | NFLX | $1.6M | 22,996 | flat | 6q | +4.2%+$64.8K | |
| COLGATE PALMOLIVE CO | CL | $1.5M | 17,540 | flat | 6q | +7.6%+$106.3K | |
| VANGUARD INDEX FDS | VB | $1.4M | 5,070 | -0.01pp | 32q | HELD | |
| SELECT SECTOR SPDR TR | XLY | $1.4M | 12,902 | -0.01pp | 19q | HELD | |
| APOLLO GLOBAL MGMT INC | APO | $1.4M | 11,971 | flat | 6q | +3.1%+$42.2K | |
| ISHARES TR | IWM | $1.4M | 4,961 | -0.01pp | 32q | HELD | |
| SALESFORCE INC | CRM | $1.4M | 5,991 | +0.04pp | 6q | +7.1%+$91.1K | |
| ATI INC | ATI | $1.4M | 7,158 | flat | 30q | HELD | |
| ASML HLDG NV | ASML | $1.3M | 732 | -0.01pp | 7q | HELD | |
| CORNING INC | GLW | $1.3M | 8,538 | -0.07pp | 30q | HELD | |
| MERCK & CO INC | MRK | $1.3M | 8,946 | +0.01pp | 32q | -1.3%-$16.9K | |
| SELECT SECTOR SPDR TR | XLF | $1.3M | 24,095 | flat | 27q | HELD | |
| JOHNSON & JOHNSON | JNJ | $1.3M | 4,785 | flat | 32q | HELD | |
| META PLATFORMS INC | META | $1.2M | 1,636 | -0.11pp | 23q | -64.1%-$2.1M | |
| EATON CORP PLC | ETN | $1.2M | 2,756 | +0.01pp | 22q | +12.7%+$133.2K | |
| VANGUARD WORLD FD | VOX | $1.2M | 6,200 | flat | 27q | HELD | |
| ISHARES TR | IWO | $1.1M | 3,132 | -0.01pp | 32q | HELD | |
| WALMART INC | WMT | $1.1M | 10,181 | flat | 32q | +6.0%+$60.3K | |
| SIMPLIFY EXCHANGE TRADED FUN | CTA | $1.0M | 36,187 | +0.01pp | 3q | +0.9%+$9.7K | |
| NUSHARES ETF TR | NULV | $1.0M | 19,383 | +0.01pp | 17q | +2.0%+$19.8K | |
| VANGUARD INDEX FDS | VO | $1.0M | 12,820 | flat | 23q | HELD | |
| ISHARES TR | IWN | $964.3K | 4,604 | flat | 32q | HELD | |
| BLACKROCK INC | BLK | $885.8K | 837 | +0.01pp | 8q | HELD | |
| ISHARES TR | USMV | $847.1K | 8,694 | flat | 29q | HELD | |
| VANGUARD INDEX FDS | VUG | $812.1K | 9,012 | flat | 32q | HELD | |
| PROCTER & GAMBLE CO | PG | $796.0K | 5,479 | flat | 32q | HELD | |
| MARVELL TECHNOLOGY INC | MRVL | $795.5K | 3,011 | -0.01pp | 6q | HELD | |
| CINTAS CORP | CTAS | $784.3K | 4,021 | +0.02pp | 20q | +20.0%+$130.7K | |
| SELECT SECTOR SPDR TR | XLC | $783.1K | 7,057 | flat | 19q | -3.6%-$28.9K | |
| WEYCO GROUP INC | WEYS | $744.9K | 15,388 | +0.02pp | 21q | +8.7%+$59.6K | |
| MASTERCARD INCORPORATED | MA | $714.7K | 1,296 | flat | 23q | -9.1%-$71.1K | |
| TRANSDIGM GROUP INC | TDG | $708.0K | 654 | -0.01pp | 26q | HELD | |
| MONDELEZ INTL INC | MDLZ | $705.9K | 12,208 | flat | 32q | HELD | |
| ILLINOIS TOOL WKS INC | ITW | $650.1K | 2,527 | flat | 16q | HELD | |
| ISHARES SILVER TR | SLV | $644.9K | 11,830 | +0.01pp | 7q | +14.5%+$81.8K | |
| APPLIED MATLS INC | AMAT | $612.1K | 1,197 | -0.02pp | 6q | HELD | |
| CHEVRON CORPORATION | CVX | $606.9K | 2,972 | +0.01pp | 32q | -3.2%-$19.8K | |
| AMERIPRISE FINL INC | AMP | $605.6K | 1,230 | +0.01pp | 23q | +21.2%+$105.9K | |
| CUMMINS INC | CMI | $600.8K | 1,163 | flat | 16q | +39.3%+$169.4K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $586.3K | 2,666 | -0.01pp | 8q | +9.5%+$51.0K | |
| STATE STR SPDR S&P MIDCAP 40 | MDY | $582.5K | 887 | flat | 26q | HELD | |
| VANGUARD INDEX FDS | VTV | $581.0K | 2,689 | flat | 32q | HELD | |
| ABBOTT LABORATORIES | ABT | $579.1K | 5,860 | flat | 21q | -2.1%-$12.7K | |
| ALTRIA GROUP INC | MO | $564.6K | 8,384 | flat | 32q | HELD | |
| TETRA TECH INC NEW | TTEK | $554.2K | 16,820 | +0.01pp | 30q | HELD | |
| MCKESSON CORP | MCK | $549.0K | 643 | +0.01pp | 14q | +20.6%+$93.9K | |
| HILTON WORLDWIDE HLDGS INC | HLT | $542.4K | 1,705 | +0.02pp | 3q | +63.2%+$210.0K | |
| VISA INC | V | $536.8K | 1,494 | +0.01pp | 23q | +8.7%+$43.1K | |
| ISHARES TR | EFA | $532.7K | 5,128 | flat | 13q | HELD | |
| INTUITIVE SURGICAL INC | ISRG | $527.8K | 1,298 | flat | 23q | -4.4%-$24.4K | |
| VANGUARD WORLD FD | VGT | $521.8K | 4,152 | flat | 15q | HELD | |
| MGE ENERGY INC | MGEE | $518.0K | 7,458 | -0.01pp | 27q | HELD | |
| BLACKSTONE INC | BX | $514.4K | 4,589 | +0.02pp | 3q | +82.5%+$232.6K | |
| GE AEROSPACE | GE | $511.5K | 1,638 | -0.01pp | 7q | +4.5%+$21.9K | |
| TE CONNECTIVITY PLC | TEL | $501.3K | 2,375 | flat | 9q | HELD | |
| CATERPILLAR INC | CAT | $487.3K | 601 | -0.01pp | 11q | HELD | |
| PEPSICO INC | PEP | $473.4K | 3,736 | flat | 32q | -2.6%-$12.7K | |
| ISHARES TR | IXN | $465.9K | 3,143 | flat | 12q | HELD | |
| BANK OF MONTREAL | BMO | $465.8K | 2,785 | flat | 7q | HELD | |
| VANGUARD TAX-MANAGED FDS | VEA | $463.3K | 6,562 | flat | 16q | HELD | |
| PARKER HANNIFIN CORP | PH | $449.0K | 470 | flat | 12q | HELD | |
| AMERICAN EXPRESS CO | AXP | $448.5K | 1,475 | flat | 22q | HELD | |
| ISHARES TR | ACWX | $446.5K | 5,905 | flat | 26q | HELD | |
| MICRON TECHNOLOGY INC | MU | $442.0K | 415 | flat | 2q | HELD | |
| SOUTHERN CO | SO | $441.3K | 5,324 | flat | 8q | HELD | |
| GE VERNOVA INC | GEV | $422.0K | 444 | flat | 3q | +43.7%+$128.3K | |
| PHILLIPS 66 | PSX | $419.2K | 1,642 | +0.01pp | 3q | -4.8%-$21.2K | |
| ALLIANT ENERGY CORP | LNT | $410.9K | 6,491 | -0.01pp | 9q | HELD | |
| HOME DEPOT INC | HD | $408.0K | 1,434 | -0.01pp | 32q | -11.3%-$52.1K | |
| MORGAN STANLEY | MS | $401.7K | 2,136 | flat | 8q | HELD | |
| UNION PAC CORP | UNP | $391.1K | 1,437 | flat | 26q | HELD | |
| THOMSON REUTERS CORP | TRI | $383.7K | 3,942 | flat | 2q | HELD | |
| CHARLES RIV LABS INTL INC | CRL | $383.5K | 1,300 | +0.01pp | 5q | HELD | |
| UNITED STS COMMODITY INDEX F | USCI | $380.4K | 3,477 | flat | 3q | HELD | |
| DUKE ENERGY CORP NEW | DUK | $373.2K | 3,273 | flat | 8q | -1.4%-$5.5K | |
| WW GRAINGER INC | GWW | $367.5K | 295 | - | new | NEW | |
| PALO ALTO NETWORKS INC | PANW | $356.4K | 897 | - | new | NEW | |
| GLOBAL X FDS | PAVE | $346.0K | 6,591 | flat | 7q | HELD | |
| AON PLC | AON | $343.7K | 1,242 | -0.01pp | 24q | HELD | |
| WASTE MGMT INC DEL | WM | $343.6K | 1,685 | flat | 22q | HELD | |
| SERVICENOW INC | NOW | $343.1K | 2,560 | +0.01pp | 9q | +15.8%+$46.9K | |
| MARATHON PETE CORP | MPC | $338.9K | 857 | +0.01pp | 3q | HELD | |
| GOLDMAN SACHS GROUP INC | GS | $334.0K | 371 | flat | 7q | HELD | |
| WOODWARD INC | WWD | $328.6K | 1,000 | -0.01pp | 6q | HELD | |
| SPDR INDEX SHS FDS | SPDW | $323.6K | 6,444 | flat | 3q | HELD | |
| SELECT SECTOR SPDR TR | XLU | $311.7K | 7,904 | flat | 7q | HELD | |
| ROCKWELL AUTOMATION INC | ROK | $310.0K | 712 | flat | 16q | HELD | |
| GILEAD SCIENCES INC | GILD | $307.9K | 2,066 | flat | 5q | -6.1%-$20.1K | |
| PULTEGROUP INC | PHM | $304.8K | 2,626 | flat | 3q | HELD | |
| THERMO FISHER SCIENTIFIC INC | TMO | $300.4K | 445 | +0.01pp | 11q | -4.7%-$14.9K | |
| SEAGATE TECHNOLOGY HLDNGS PL | STX | $296.1K | 321 | flat | 2q | HELD | |
| INTEL CORP | INTC | $294.6K | 2,450 | flat | 2q | HELD | |
| XCEL ENERGY INC | XEL | $294.5K | 4,178 | flat | 9q | HELD | |
| CAPITAL ONE FINL CORP | COF | $291.0K | 1,507 | flat | 6q | -4.2%-$12.7K | |
| CONSTELLATION ENERGY CORP | CEG | $288.8K | 1,137 | +0.01pp | 2q | +36.7%+$77.5K | |
| IRON MTN INC DEL | IRM | $287.7K | 2,593 | - | new | NEW | |
| REPUBLIC SVCS INC | RSG | $286.1K | 1,363 | -0.22pp | 28q | -90.6%-$2.7M | |
| ORACLE CORP | ORCL | $282.6K | 2,058 | flat | 10q | +3.3%+$8.9K | |
| SHOPIFY INC | SHOP | $282.5K | 1,905 | - | new | NEW | |
| US BANCORP | USB | $270.5K | 4,683 | flat | 24q | -7.3%-$21.4K | |
| UNITEDHEALTH GROUP INC | UNH | $270.2K | 736 | flat | 32q | -4.5%-$12.8K | |
| ISHARES TR | IVW | $265.0K | 1,863 | flat | 6q | HELD | |
| CONOCOPHILLIPS | COP | $262.4K | 2,097 | - | new | NEW | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $258.7K | 567 | flat | 2q | HELD | |
| VERIZON COMMUNICATIONS INC | VZ | $251.6K | 5,484 | flat | 3q | +8.9%+$20.5K | |
| FORTINET INC | FTNT | $248.5K | 1,390 | - | new | NEW | |
| FIDELITY COVINGTON TRUST | FELG | $248.0K | 5,500 | flat | 6q | HELD | |
| VANGUARD WORLD FD | MGV | $247.4K | 1,536 | flat | 3q | +1.7%+$4.0K | |
| WISDOMTREE TR | DGRW | $247.3K | 2,543 | flat | 9q | HELD | |
| MICROCHIP TECHNOLOGY INC. | MCHP | $243.9K | 3,136 | flat | 3q | HELD | |
| LINDE PLC | LIN | $243.5K | 513 | - | new | NEW | |
| ETFS GOLD TR | SGOL | $241.2K | 6,096 | flat | 3q | HELD | |
| UBER TECHNOLOGIES INC | UBER | $240.6K | 3,512 | flat | 2q | +20.2%+$40.4K | |
| NORFOLK SOUTHN CORP | NSC | $239.8K | 776 | flat | 3q | HELD | |
| GALLAGHER ARTHUR J CO | AJG | $236.6K | 1,037 | flat | 20q | HELD | |
| GOLDMAN SACHS ETF TR | GPIQ | $236.0K | 4,071 | flat | 3q | HELD | |
| ESSENTIAL UTILS INC | WTRG | $235.1K | 6,000 | flat | 3q | HELD | |
| STRATTEC SEC CORP | STRT | $233.7K | 3,598 | flat | 6q | HELD | |
| AMDOCS LTD | DOX | $231.3K | 4,046 | flat | 30q | HELD | |
| GOLDMAN SACHS ETF TR | GPIX | $227.6K | 4,076 | flat | 3q | HELD | |
| VALERO ENERGY CORP | VLO | $226.4K | 584 | - | new | NEW | |
| AMGEN INC | AMGN | $226.4K | 537 | - | new | NEW | |
| FIRST TR EXCHANGE-TRADED FD | RDVI | $224.5K | 8,052 | flat | 3q | HELD | |
| SHELL PLC | SHEL | $224.1K | 2,358 | - | new | NEW | |
| EOG RES INC | EOG | $223.9K | 1,625 | flat | 3q | HELD | |
| ISHARES TR | IWS | $221.3K | 1,377 | flat | 3q | HELD | |
| CHARLES SCHWAB CORP (THE) | SCHW | $219.9K | 2,250 | flat | 19q | -25.3%-$74.7K | |
| TRUIST FINL CORP | TFC | $219.7K | 4,745 | flat | 4q | -1.5%-$3.4K | |
| WELLS FARGO & CO | WFC | $217.3K | 2,715 | flat | 2q | HELD | |
| RTX CORPORATION | RTX | $210.5K | 1,134 | - | new | NEW | |
| OKLO INC | OKLO | $209.2K | 5,650 | -0.01pp | 6q | -15.0%-$37.0K | |
| PPL CORP | PPL | $205.7K | 6,255 | flat | 3q | -1.3%-$2.8K | |
| CHUBB LIMITED | CB | $203.3K | 625 | flat | 3q | HELD | |
| MCDONALDS CORP | MCD | $200.2K | 867 | flat | 32q | +0.9%+$1.8K |
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 |
|---|---|---|
| Semiconductors & Electronics | $70.1M | 5.5% |
| Banks & Lending | $46.5M | 3.6% |
| Computer Hardware | $37.6M | 2.9% |
| Funds & ETFs | $33.9M | 2.6% |
| Software & IT Services | $33.4M | 2.6% |
| Other sectors | $156.7M | 12.2% |
| Not classified | $902.1M | 70.5% |
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 | -0.5% | +2.1% | -2.6% | 100% |
| Q2 2026 | +13.1% | +14.8% | -1.7% | 100% |
| Q1 2026 | -1.5% | -4.6% | +3.1% | 100% |
| Q4 2025 | +2.6% | +2.4% | +0.3% | 100% |
| Q3 2025 | +7.4% | +7.8% | -0.5% | 100% |
| Q2 2025 | +9.1% | +10.5% | -1.4% | 100% |
| Q1 2025 | -3.0% | -4.6% | +1.5% | 100% |
| Q4 2024 | -0.1% | +2.1% | -2.2% | 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 |
|---|---|---|---|---|---|---|---|---|
| Q3 2026 | $1.3B | 207 | 15 | 73 | 27 | 9 | 67.1% | 29 |
| Q2 2026 | $1.3B | 201 | 15 | 100 | 20 | 6 | 68.7% | 28 |
| Q1 2026 | $1.1B | 192 | 27 | 84 | 11 | 3 | 69.8% | 31 |
| Q4 2025 | $1.1B | 168 | 2 | 45 | 59 | 19 | 72.6% | 37 |
| Q3 2025 | $1.1B | 185 | 9 | 17 | 71 | 9 | 72.1% | 30 |
| Q2 2025 | $1.1B | 185 | 20 | 31 | 44 | 5 | 73.4% | 31 |
| Q1 2025 | $1.0B | 170 | 15 | 72 | 21 | 7 | 73.9% | 32 |
| Q4 2024 | $1.0B | 162 | 14 | 55 | 9 | 11 | 74.5% | 37 |
| Q3 2024 | $999.2M | 159 | 10 | 55 | 41 | 8 | 75.7% | 37 |
| Q2 2024 | $943.3M | 157 | 8 | 57 | 30 | 16 | 77.0% | 33 |
| Q1 2024 | $932.5M | 165 | 9 | 42 | 39 | 6 | 77.6% | 45 |
| Q4 2023 | $860.2M | 162 | 9 | 39 | 62 | 15 | 78.0% | 45 |
| Q3 2023 | $784.8M | 168 | 6 | 84 | 20 | 5 | 76.3% | 45 |
| Q2 2023 | $810.7M | 167 | 12 | 38 | 35 | 13 | 77.1% | 38 |
| Q1 2023 | $796.8M | 168 | 8 | 72 | 15 | 3 | 76.8% | 39 |
| Q4 2022 | $744.2M | 163 | 11 | 32 | 43 | 9 | 76.0% | 33 |
| Q3 2022 | $700.3M | 161 | 12 | 59 | 26 | 10 | 77.8% | 46 |
| Q2 2022 | $742.4M | 159 | 14 | 26 | 67 | 26 | 78.3% | 33 |
| Q1 2022 | $904.4M | 171 | 10 | 62 | 13 | 9 | 80.9% | 39 |
| Q4 2021 | $945.1M | 170 | 18 | 74 | 8 | 4 | 81.1% | 41 |
| Q3 2021 | $873.9M | 156 | 9 | 73 | 12 | 8 | 82.3% | 26 |
| Q2 2021 | $855.5M | 155 | 22 | 84 | 13 | 1 | 82.3% | 20 |
| Q1 2021 | $753.4M | 134 | 10 | 82 | 13 | 1 | 83.3% | 20 |
| Q4 2020 | $688.2M | 125 | 4 | 51 | 21 | 2 | 84.3% | 28 |
| Q3 2020 | $599.1M | 123 | 2 | 28 | 39 | 0 | 82.2% | 35 |
| Q2 2020 | $557.9M | 121 | 13 | 40 | 37 | 7 | 82.1% | 43 |
| Q1 2020 | $502.3M | 115 | 8 | 17 | 64 | 17 | 84.0% | 31 |
| Q4 2019 | $631.9M | 124 | 23 | 22 | 32 | 17 | 84.2% | 41 |
| Q3 2019 | $585.0M | 118 | 6 | 23 | 26 | 5 | 85.4% | 36 |
| Q2 2019 | $575.6M | 117 | 15 | 16 | 43 | 3 | 85.8% | 24 |
| Q1 2019 | $561.0M | 105 | 3 | 10 | 61 | 52 | 86.8% | 33 |
| Q4 2018 | $587.8M | 154 | 0 | 0 | 0 | 0 | 73.4% | 37 |
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.