DaveManuel.com · Institutional Ownership · 13F Holdings

Samalin Investment Counsel, LLC

Reported holdings as of Q3 2026, from 28 quarterly filings.

CIK

1544366

Reported value

$319.3M

Positions

330

Top 10 weight

20.3%

Filed

2026-10-23

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
INVESCO QQQ TR PUT	QQQ	$10.7M	4,560	3.35%	-0.07pp	28q	-4.2%-$469.2K
APPLE INC	AAPL	$7.3M	35,075	2.29%	-0.91pp	28q	-0.6%-$43.0K
VANECK MERK GOLD ETF	OUNZ	$7.0M	175,246	2.19%	+0.06pp	22q	-0.6%-$43.4K
STATE STR SPDR S&P 500 ETF T	SPY	$6.9M	9,055	2.16%	flat	28q	-2.5%-$176.2K
MICROSOFT CORP	MSFT	$5.9M	11,564	1.86%	+0.43pp	28q	-5.7%-$358.0K
ISHARES TR	IWY	$5.7M	19,278	1.78%	+0.09pp	24q	+3.7%+$200.5K
SCHWAB STRATEGIC TR	SCHD	$5.6M	172,620	1.76%	+0.64pp	14q	+53.3%+$2.0M
ISHARES TR	ISTB	$5.3M	112,604	1.67%	+0.42pp	28q	+36.7%+$1.4M
ISHARES TR	DGRO	$5.3M	70,041	1.65%	+0.05pp	26q	+3.6%+$184.9K
INVESCO EXCHANGE TRADED FD T	RSP	$5.2M	25,154	1.64%	+0.07pp	28q	+6.8%+$332.2K
FIDELITY COVINGTON TRUST	FTEC	$4.7M	15,583	1.46%	+0.13pp	28q	+4.2%+$189.0K
BERKSHIRE HATHAWAY INC DEL	BRKB	$4.7M	9,379	1.46%	+0.04pp	28q	+2.8%+$125.5K
ALPS ETF TR	AMLP	$4.4M	85,461	1.39%	+0.19pp	26q	+15.7%+$600.2K
ISHARES TR	ITOT	$4.3M	25,823	1.34%	+0.04pp	25q	+1.9%+$78.8K
ISHARES TR	IWR	$4.0M	37,903	1.27%	flat	28q	+3.0%+$119.3K
ISHARES TR	SHY	$4.0M	49,405	1.26%	+0.19pp	28q	+19.3%+$649.5K
BANK OF AMER CORP	BAC	$4.0M	72,860	1.24%	-0.05pp	28q	+0.8%+$30.0K
ISHARES TR	EFAV	$3.9M	43,183	1.23%	+0.13pp	28q	+7.5%+$275.3K
DIMENSIONAL ETF TRUST	DFAC	$3.9M	87,065	1.21%	+0.01pp	17q	HELD
ISHARES TR	TIP	$3.9M	37,041	1.21%	+0.12pp	28q	+16.5%+$546.3K
ABRDN HEALTHCARE INVESTORS	HQH	$3.8M	182,351	1.19%	+0.13pp	15q	+17.9%+$579.4K
VANECK ETF TRUST	BIZD	$3.6M	281,875	1.14%	+0.28pp	16q	+30.0%+$839.2K
CALAMOS CONV OPPORTUNITIES &	CHI	$3.4M	298,799	1.07%	+0.20pp	28q	+44.7%+$1.1M
MPLX LP	MPLX	$3.4M	60,593	1.07%	+0.02pp	25q	+1.4%+$48.4K
ROYCE SMALL CAP TRUST INC	RVT	$3.4M	198,321	1.06%	+0.21pp	28q	+34.6%+$873.2K
ISHARES TR	IJR	$3.2M	23,610	1.01%	-0.10pp	28q	-0.8%-$26.9K
EATON CORP PLC	ETN	$3.1M	7,183	0.97%	+0.01pp	28q	HELD
NVIDIA CORPORATION	NVDA	$3.1M	13,488	0.96%	-0.54pp	28q	-44.1%-$2.4M
SPDR GOLD TR	GLD	$3.0M	7,995	0.95%	+0.03pp	26q	HELD
EATON VANCE TAX ADVT DIV INC	EVT	$2.8M	100,498	0.88%	+0.32pp	3q	+55.1%+$996.6K
JPMORGAN CHASE & CO	JPM	$2.8M	8,430	0.87%	+0.02pp	28q	+0.6%+$16.2K
REAVES UTIL INCOME FD	UTG	$2.8M	80,653	0.87%	+0.23pp	13q	+61.7%+$1.1M
ADAMS DIVERSIFIED EQUITY FD	ADX	$2.7M	105,829	0.85%	+0.33pp	3q	+62.6%+$1.0M
ENTERPRISE PRODS PARTNERS L	EPD	$2.7M	75,300	0.84%	-0.02pp	24q	HELD
VICTORY PORTFOLIOS II	USTB	$2.7M	53,664	0.84%	-0.03pp	13q	-2.4%-$65.1K
NEUBERGER ENGY INFRSTR & INC	NML	$2.7M	267,682	0.83%	+0.28pp	3q	+53.6%+$926.1K
GENERAL AMERN INVS CO INC	GAM	$2.6M	41,332	0.82%	+0.32pp	3q	+63.8%+$1.0M
TESLA INC	TSLA	$2.4M	6,698	0.74%	-0.04pp	28q	+11.9%+$251.9K
DIMENSIONAL ETF TRUST	DFUV	$2.2M	40,698	0.70%	-0.02pp	17q	-3.5%-$80.3K
UNITEDHEALTH GROUP INC	UNH	$2.1M	5,594	0.64%	-0.09pp	28q	-0.6%-$12.8K
DIMENSIONAL ETF TRUST	DFUS	$2.0M	24,206	0.63%	+0.04pp	8q	+4.4%+$84.0K
SELECT SECTOR SPDR TR	XLK	$1.9M	9,459	0.58%	+0.02pp	26q	HELD
META PLATFORMS INC	META	$1.8M	2,455	0.56%	-0.40pp	28q	-54.7%-$2.2M
MERCK & CO INC	MRK	$1.8M	12,104	0.55%	+0.07pp	28q	+1.4%+$25.0K
VANGUARD INDEX FDS	VNQ	$1.7M	19,420	0.55%	-0.05pp	28q	-2.1%-$36.6K
JOHNSON & JOHNSON	JNJ	$1.7M	6,562	0.54%	+0.02pp	28q	HELD
WESTERN MIDSTREAM PARTNERS L	WES	$1.7M	37,804	0.53%	flat	8q	-2.0%-$33.5K
AMAZON COM INC	AMZN	$1.7M	6,679	0.52%	+0.02pp	28q	HELD
ISHARES TR	EEM	$1.6M	24,678	0.52%	flat	28q	+2.0%+$32.1K
DIMENSIONAL ETF TRUST	DFAS	$1.6M	20,943	0.51%	-0.03pp	16q	HELD
ISHARES TR	IJH	$1.6M	22,404	0.50%	-0.01pp	28q	+4.4%+$67.2K
OMEGA HEALTHCARE INVS INC	OHI	$1.5M	31,945	0.46%	+0.02pp	21q	+6.4%+$88.4K
DFA INVT DIMENSIONS GROUP IN	DUHP	$1.5M	35,229	0.46%	-	new	NEW
ALPHABET INC	GOOGL	$1.5M	4,274	0.46%	-0.15pp	28q	-21.7%-$407.7K
DIMENSIONAL ETF TRUST	DFSD	$1.5M	31,358	0.46%	+0.02pp	17q	+6.8%+$93.3K
DIMENSIONAL ETF TRUST	DFSB	$1.4M	28,885	0.45%	+0.01pp	12q	+6.2%+$83.0K
ETFIS SER TR I	PFFA	$1.4M	71,166	0.44%	-0.10pp	16q	-15.9%-$264.7K
DIMENSIONAL ETF TRUST	DFCF	$1.4M	34,389	0.43%	+0.01pp	16q	+7.4%+$95.4K
ERO COPPER CORP	ERO	$1.4M	37,597	0.43%	+0.12pp	9q	-0.5%-$7.6K
GRAYSCALE BITCOIN MINI TR ET	BTC	$1.4M	37,316	0.43%	-	new	NEW
BROADCOM INC	AVGO	$1.4M	3,924	0.43%	-0.03pp	20q	HELD
DIMENSIONAL ETF TRUST	DFIP	$1.3M	34,186	0.42%	+0.03pp	17q	+12.2%+$145.1K
APOLLO GLOBAL MGMT INC	APO	$1.3M	11,216	0.41%	-0.01pp	19q	-0.7%-$8.8K
DIMENSIONAL ETF TRUST	DFAI	$1.3M	30,781	0.40%	+0.02pp	17q	+4.6%+$55.8K
COMMUNITY HEALTHCARE TR INC	CHCT	$1.3M	89,176	0.40%	+0.10pp	8q	+73.4%+$535.4K
SELECT SECTOR SPDR TR	XLU	$1.3M	31,968	0.39%	-0.06pp	28q	HELD
OPERA LTD	OPRA	$1.2M	70,833	0.39%	-0.08pp	9q	-7.6%-$102.0K
DIMENSIONAL ETF TRUST	DFLV	$1.2M	30,212	0.38%	flat	8q	-1.6%-$19.4K
VANGUARD SPECIALIZED FUNDS	VIG	$1.1M	4,899	0.36%	flat	19q	+0.7%+$7.7K
ARES CAPITAL CORP	ARCC	$1.1M	59,654	0.36%	-0.04pp	17q	-12.9%-$168.6K
FIDELITY COMWLTH TR	ONEQ	$1.1M	10,760	0.36%	+0.13pp	23q	+51.3%+$386.2K
CHEVRON CORPORATION	CVX	$1.1M	5,527	0.35%	+0.07pp	28q	-0.5%-$5.7K
CVS HEALTH CORP	CVS	$1.1M	12,792	0.34%	-0.07pp	2q	-0.5%-$5.8K
WP CAREY INC	WPC	$1.1M	16,835	0.34%	-0.04pp	16q	-2.3%-$25.2K
STATE STR SPDR S&P MIDCAP 40	MDY	$1.1M	1,650	0.34%	-0.01pp	28q	+2.6%+$27.6K
ENERGY TRANSFER L P	ET	$1.1M	54,584	0.34%	+0.02pp	28q	+1.4%+$14.7K
LXP INDUSTRIAL TRUST	LXPPRC	$1.1M	21,407	0.33%	-	new	NEW
HANCOCK JOHN TAX-ADVANTAGED	HTD	$1.0M	47,337	0.33%	-0.04pp	28q	+1.8%+$18.1K
GLOBAL SHIP LEASE INC	GSL	$1.0M	23,705	0.33%	+0.04pp	17q	-2.8%-$30.4K
LXP INDUSTRIAL TRUST	LXP	$1.0M	17,116	0.33%	+0.03pp	4q	-3.6%-$38.5K
COHEN & STEERS QUALITY INCOM	RQI	$1.0M	94,138	0.32%	-0.13pp	16q	-19.6%-$250.1K
OKEANIS ECO TANKERS COR	ECO	$1.0M	12,495	0.32%	-	new	NEW
SERVICENOW INC	NOW	$990.2K	7,389	0.31%	+0.09pp	2q	+5.0%+$47.2K
VISA INC	V	$988.7K	2,752	0.31%	+0.01pp	28q	HELD
PROCTER & GAMBLE CO	PG	$982.4K	6,762	0.31%	-0.02pp	28q	-5.7%-$58.8K
ALTRIA GROUP INC	MO	$949.6K	14,101	0.30%	-0.01pp	28q	+2.1%+$19.6K
ELI LILLY & CO	LLY	$942.4K	814	0.30%	-0.01pp	28q	HELD
DHT HOLDINGS INC	DHT	$937.5K	41,537	0.29%	-	new	NEW
PIMCO ETF TR	ZROZ	$883.9K	16,393	0.28%	-	new	NEW
GOLDMAN SACHS GROUP INC	GS	$869.9K	966	0.27%	-0.03pp	24q	HELD
INTUIT	INTU	$867.6K	3,147	0.27%	+0.18pp	2q	+171.5%+$548.1K
AMGEN INC	AMGN	$844.6K	2,004	0.26%	+0.04pp	20q	+3.3%+$27.0K
EXXONMOBIL HOLDINGS CORP	XOM	$833.7K	5,122	0.26%	-	new	NEW
HOME DEPOT INC	HD	$829.7K	2,917	0.26%	-0.06pp	28q	HELD
WESTLAKE CHEM PARTNERS LP	WLKP	$810.2K	38,216	0.25%	-0.04pp	13q	-9.5%-$85.5K
HIGH INCOME SECS FD	PCF	$808.3K	156,643	0.25%	flat	7q	+4.2%+$32.4K
COHEN & STEERS TOTAL RETURN	RFI	$793.4K	75,633	0.25%	-0.02pp	28q	-1.9%-$15.4K
ISHARES TR	EFV	$779.4K	9,849	0.24%	+0.03pp	28q	+8.2%+$59.1K
DIMENSIONAL ETF TRUST	DFSI	$776.8K	17,198	0.24%	+0.02pp	7q	+7.5%+$54.2K
ABBVIE INC	ABBV	$772.8K	2,954	0.24%	flat	28q	-2.3%-$18.1K
PFIZER INC	PFE	$771.1K	27,039	0.24%	+0.05pp	28q	+4.9%+$35.7K
VANECK ETF TRUST	MOAT	$764.8K	7,235	0.24%	flat	19q	HELD
CITIGROUP INC	C	$760.5K	5,873	0.24%	-0.01pp	28q	+1.6%+$12.2K
FRONTVIEW REIT INC	FVR	$753.6K	45,235	0.24%	-0.13pp	6q	-22.1%-$213.3K
ISHARES TR	IVV	$748.8K	978	0.23%	flat	13q	-3.9%-$30.6K
INVESCO EXCHANGE TRADED FD T	XLG	$742.8K	11,678	0.23%	+0.01pp	18q	+0.7%+$5.3K
JACKSON FINANCIAL INC	JXN	$742.5K	5,742	0.23%	+0.05pp	11q	+0.7%+$5.2K
FIDELITY COVINGTON TRUST	FVAL	$742.3K	9,191	0.23%	+0.01pp	24q	-0.6%-$4.4K
VANGUARD INDEX FDS	VTV	$722.5K	3,344	0.23%	flat	14q	+1.1%+$7.6K
SLB LIMITED	SLB	$719.7K	14,773	0.23%	+0.01pp	4q	HELD
NOVO-NORDISK A S	NVO	$718.5K	18,953	0.23%	-0.03pp	28q	+9.4%+$61.9K
LAM RESEARCH CORP	LRCX	$690.3K	2,101	0.22%	-0.08pp	6q	-3.7%-$26.6K
CALAMOS CONV & HIGH INCOME F	CHY	$689.7K	58,894	0.22%	-0.03pp	28q	+2.0%+$13.5K
WALMART INC	WMT	$686.6K	6,607	0.22%	-0.02pp	28q	HELD
ISHARES TR	IYW	$680.4K	2,569	0.21%	flat	28q	-3.3%-$23.0K
ALPHABET INC	GOOG	$679.0K	1,993	0.21%	-0.07pp	28q	-22.1%-$193.2K
ANI PHARMACEUTICALS INC	ANIP	$674.4K	9,283	0.21%	+0.01pp	3q	+18.0%+$103.0K
ISHARES TR	IVW	$673.3K	4,733	0.21%	+0.01pp	28q	HELD
VERIZON COMMUNICATIONS INC	VZ	$672.8K	14,667	0.21%	-0.02pp	28q	-16.6%-$134.1K
MICRON TECHNOLOGY INC	MU	$659.4K	619	0.21%	-0.02pp	11q	-3.0%-$20.2K
ORACLE CORP	ORCL	$658.3K	4,794	0.21%	-0.01pp	7q	+3.5%+$22.0K
HEWLETT PACKARD ENTERPRISE C	HPEPRC	$651.0K	3,980	0.20%	-0.03pp	9q	-37.9%-$398.1K
WORKDAY INC	WDAY	$632.4K	3,321	0.20%	-	new	NEW
BLACKSTONE INC	BX	$626.6K	5,590	0.20%	-0.01pp	28q	+1.2%+$7.7K
ING GROEP N.V.	ING	$625.7K	17,625	0.20%	+0.02pp	19q	+1.1%+$6.8K
MCDONALDS CORP	MCD	$607.8K	2,632	0.19%	-0.03pp	28q	HELD
CISCO SYS INC	CSCO	$591.7K	5,497	0.19%	-0.02pp	16q	HELD
MELCO RESORTS AND ENTMNT LTD	MLCO	$588.1K	131,273	0.18%	-0.04pp	17q	-4.7%-$29.1K
ISHARES TR	DVY	$587.8K	3,865	0.18%	flat	28q	+0.7%+$3.8K
BLUE OWL CAPITAL CORPORATION	OBDC	$586.8K	55,941	0.18%	-0.03pp	20q	-13.1%-$88.7K
ALPHABET INC	GOOGM	$585.1K	11,922	0.18%	-	new	NEW
SPDR SERIES TRUST	SPYG	$584.5K	4,749	0.18%	+0.01pp	11q	HELD
ISHARES TR	EFA	$582.7K	5,609	0.18%	flat	25q	HELD
ADOBE INC	ADBE	$581.7K	2,424	0.18%	-	new	NEW
TORTOISE ENERGY INFRSTRCTR C	TYG	$561.4K	14,662	0.18%	-0.01pp	26q	+4.2%+$22.7K
REALTY INCOME CORP	O	$561.1K	10,334	0.18%	-0.09pp	16q	-24.7%-$184.1K
CELESTICA INC	CLS	$556.7K	1,540	0.17%	-0.03pp	10q	-15.7%-$103.4K
ISHARES TR	IGV	$532.4K	5,000	0.17%	+0.03pp	16q	HELD
VANGUARD BD INDEX FDS	BSV	$526.0K	6,884	0.16%	flat	4q	+0.7%+$3.7K
AT&T INC	T	$522.5K	21,413	0.16%	+0.03pp	28q	+5.9%+$29.3K
ISHARES TR	IWM	$522.2K	1,879	0.16%	-0.01pp	12q	HELD
ISHARES INC	EEMS	$515.7K	6,852	0.16%	+0.01pp	10q	+10.1%+$47.5K
UNION PAC CORP	UNP	$515.0K	1,893	0.16%	flat	28q	-0.7%-$3.8K
DIMENSIONAL ETF TRUST	DFAE	$506.1K	12,874	0.16%	flat	16q	+1.2%+$5.8K
ISHARES TR	SCZ	$505.4K	5,987	0.16%	+0.02pp	12q	+10.0%+$46.1K
NEXTERA ENERGY INC	NEE	$504.9K	6,667	0.16%	-0.02pp	28q	HELD
VANGUARD TAX-MANAGED FDS	VEA	$503.6K	7,132	0.16%	+0.01pp	2q	+6.4%+$30.1K
NETFLIX INC.	NFLX	$496.8K	7,140	0.16%	flat	12q	+5.3%+$25.0K
SPDR SERIES TRUST	KRE	$488.7K	7,037	0.15%	-0.01pp	28q	+0.5%+$2.5K
DIMENSIONAL ETF TRUST	DFIV	$486.0K	8,700	0.15%	+0.01pp	16q	+4.9%+$22.8K
VANGUARD INDEX FDS	VOO	$484.2K	691	0.15%	flat	11q	HELD
OCCIDENTAL PETE CORP	OXY	$483.5K	8,741	0.15%	+0.02pp	3q	-0.6%-$3.0K
SABRA HEALTH CARE REIT INC	SBRA	$483.4K	24,514	0.15%	flat	28q	+0.6%+$3.0K
INVESCO EXCHANGE TRADED FD T	PTF	$482.7K	4,433	0.15%	-0.04pp	26q	-1.0%-$4.7K
MILLROSE PPTYS INC	MRP	$480.3K	18,494	0.15%	-0.01pp	3q	+11.5%+$49.6K
SPDR SERIES TRUST	KBE	$473.9K	7,495	0.15%	-0.01pp	28q	HELD
ISHARES TR	IVE	$473.4K	2,074	0.15%	flat	28q	HELD
ISHARES TR	IEFA	$472.3K	4,875	0.15%	flat	8q	HELD
PLAINS ALL AMERN PIPELINE L	PAA	$471.6K	19,880	0.15%	+0.01pp	24q	+1.8%+$8.3K
PARKER HANNIFIN CORP	PH	$464.0K	486	0.15%	flat	14q	-0.8%-$3.8K
MORGAN STANLEY	MS	$461.2K	2,452	0.14%	-0.02pp	14q	-0.7%-$3.4K
MICROCHIP TECHNOLOGY INC.	MCHPP	$460.4K	6,913	0.14%	-0.07pp	7q	-21.0%-$122.1K
DIMENSIONAL ETF TRUST	DISV	$455.8K	10,530	0.14%	+0.02pp	8q	+5.1%+$22.3K
HUMANA INC	HUM	$448.6K	1,176	0.14%	flat	2q	+4.5%+$19.5K
RADNET INC	RDNT	$444.0K	6,440	0.14%	+0.01pp	12q	HELD
NATIONAL GRID PLC	NGG	$440.9K	5,815	0.14%	-0.01pp	28q	+2.2%+$9.6K
AUTOMATIC DATA PROCESSING IN	ADP	$440.4K	1,707	0.14%	+0.01pp	26q	-4.8%-$22.2K
FLEX LTD	FLEX	$436.6K	3,969	0.14%	-0.10pp	11q	-15.9%-$82.8K
ABRDN GLOBAL PREMIER PPTYS F	AWP	$431.1K	41,576	0.14%	-0.11pp	3q	-37.5%-$258.5K
SIMON PPTY GROUP INC NEW	SPG	$424.6K	2,115	0.13%	-0.01pp	16q	+1.7%+$7.0K
WESTERN ASSET EMERGING MKTS	EMD	$418.9K	44,759	0.13%	-0.02pp	28q	-1.7%-$7.2K
VANGUARD INDEX FDS	VB	$416.8K	1,465	0.13%	-0.01pp	2q	HELD
RBB FD INC	TBIL	$413.8K	8,300	0.13%	+0.01pp	3q	+10.7%+$39.9K
WELLS FARGO & CO	WFC	$413.7K	5,168	0.13%	-0.02pp	12q	-9.7%-$44.3K
ETF SER SOLUTIONS	RIET	$411.6K	48,255	0.13%	-0.02pp	8q	-2.1%-$8.7K
LINDE PLC	LIN	$411.1K	866	0.13%	-0.01pp	15q	+0.9%+$3.8K
CBRE GBL REAL ESTATE INC FD	IGR	$403.7K	34,330	0.13%	-	new	NEW
TREKOR METALS LTD	TGB	$400.9K	45,000	0.13%	+0.03pp	2q	HELD
KKR & CO INC	KKR	$400.3K	4,385	0.13%	flat	26q	HELD
COSTCO WHOLESALE CORPORATION	COST	$399.4K	439	0.13%	flat	17q	+5.5%+$20.9K
PALANTIR TECHNOLOGIES INC	PLTR	$398.3K	2,130	0.12%	+0.05pp	7q	+1.2%+$4.7K
HSBC HLDGS PLC	HSBC	$396.3K	3,991	0.12%	+0.01pp	7q	+0.5%+$2.0K
STATE STR SPDR DOW JONES IND	DIA	$391.5K	770	0.12%	-0.05pp	28q	-27.6%-$149.5K
ABBOTT LABORATORIES	ABT	$390.2K	3,948	0.12%	+0.01pp	28q	HELD
FIDELITY COVINGTON TRUST	FDLO	$390.1K	5,521	0.12%	flat	16q	HELD
EQUINIX INC	EQIX	$387.9K	383	0.12%	flat	16q	+1.6%+$6.1K
VANGUARD ADMIRAL FDS INC	IVOO	$386.8K	3,177	0.12%	-0.01pp	8q	HELD
ISHARES INC	EWZ	$381.7K	10,247	0.12%	+0.01pp	8q	+1.0%+$3.7K
CVR PARTNERS LP/CVR NITROGEN	UAN	$380.6K	3,075	0.12%	+0.02pp	2q	+8.0%+$28.1K
CINCINNATI FINL CORP	CINF	$379.3K	2,380	0.12%	-0.02pp	25q	HELD
DIGITAL RLTY TR INC	DLR	$374.0K	2,130	0.12%	flat	7q	+1.1%+$4.0K
PIMCO CORPORATE & INCOME OPP	PTY	$373.5K	33,923	0.12%	-0.10pp	19q	-41.1%-$261.2K
ISHARES TR	IYC	$364.4K	3,845	0.11%	flat	26q	+2.9%+$10.3K
AMPHENOL CORP	APH	$361.4K	4,288	0.11%	flat	5q	+3.0%+$10.6K
BLACKSTONE MORTGAGE TRUST IN	BXMT	$356.6K	31,143	0.11%	-0.01pp	15q	+40.9%+$103.5K
APPLE HOSPITALITY REIT INC	APLE	$350.3K	21,675	0.11%	-0.01pp	7q	-3.6%-$13.1K
AMERICAN EXPRESS CO	AXP	$346.9K	1,141	0.11%	-0.01pp	9q	HELD
GAMCO GLOBAL GOLD NAT RES &	GGN	$342.3K	64,835	0.11%	+0.02pp	5q	+17.7%+$51.5K
DIMENSIONAL ETF TRUST	DFAX	$340.7K	9,204	0.11%	flat	7q	+3.8%+$12.6K
VANGUARD INTL EQUITY INDEX F	VT	$340.5K	2,157	0.11%	flat	12q	HELD
AGILENT TECHNOLOGIES INC	A	$340.2K	1,974	0.11%	+0.02pp	14q	-1.5%-$5.3K
RAYMOND JAMES FINL INC	RJF	$338.7K	2,143	0.11%	flat	14q	-1.0%-$3.3K
INVESCO EXCH TRADED FD TR II	QQQM	$336.3K	1,104	0.11%	flat	10q	HELD
BRISTOL-MYERS SQUIBB CO	BMY	$336.2K	5,387	0.11%	flat	28q	-4.7%-$16.6K
KAYNE ANDERSON ENERGY INFRST	KYN	$335.3K	24,651	0.10%	+0.01pp	4q	+8.4%+$26.1K
MONDELEZ INTL INC	MDLZ	$331.0K	5,725	0.10%	flat	28q	HELD
BLACKROCK RES & COMMODITIES	BCX	$323.7K	27,269	0.10%	-0.05pp	15q	-36.7%-$187.9K
PIMCO DYNAMIC INCOME OPRNTS	PDO	$321.0K	27,063	0.10%	-0.10pp	17q	-45.3%-$266.2K
SPOTIFY TECHNOLOGY S A	SPOT	$318.3K	653	0.10%	flat	11q	-1.1%-$3.4K
ABRDN HEALTHCARE OPPORTUNITI	THQ	$317.3K	17,246	0.10%	-0.10pp	14q	-49.3%-$308.5K
INTEL CORP	INTC	$317.0K	2,637	0.10%	-0.01pp	2q	+1.9%+$6.0K
NUCOR CORP	NUE	$313.5K	1,341	0.10%	flat	4q	HELD
RITHM CAPITAL CORP	RITM	$312.9K	35,035	0.10%	+0.03pp	28q	+55.3%+$111.4K
SALESFORCE INC	CRM	$312.8K	1,362	0.10%	-	new	NEW
SPACE EXPLORATION TECHN CORP	SPCX	$311.2K	2,063	0.10%	-	new	NEW
CMS ENERGY CORP	CMS	$309.2K	4,902	0.10%	-0.02pp	14q	-0.9%-$2.9K
MICROCHIP TECHNOLOGY INC.	MCHP	$308.2K	3,963	0.10%	-0.02pp	6q	-0.5%-$1.6K
BOOKING HOLDINGS INC	BKNG	$305.7K	1,876	0.10%	+0.02pp	2q	+47.4%+$98.3K
TARGA RES CORP	TRGP	$305.3K	1,130	0.10%	flat	4q	+0.5%+$1.6K
COHEN & STEERS REIT & PFD &	RNP	$303.9K	16,296	0.10%	-0.10pp	14q	-47.8%-$278.1K
ISHARES TR	IYJ	$303.2K	1,977	0.09%	-0.01pp	26q	HELD
CONSOLIDATED EDISON INC	ED	$302.2K	2,956	0.09%	-0.01pp	7q	HELD
TANGER INC	SKT	$297.9K	8,686	0.09%	-0.02pp	16q	-3.7%-$11.5K
QUALCOMM INC	QCOM	$297.6K	1,617	0.09%	flat	6q	-1.3%-$3.9K
ISHARES INC	EEMV	$296.5K	4,004	0.09%	flat	4q	HELD
GENERAL DYNAMICS CORP	GD	$293.9K	886	0.09%	-0.01pp	22q	HELD
TUTOR PERINI CORP	TPC	$292.5K	3,544	0.09%	+0.01pp	3q	+7.6%+$20.7K
EPR PPTYS	EPR	$290.7K	5,179	0.09%	-0.07pp	14q	-40.3%-$196.6K
ABRDN WORLD HEALTHCARE FUND	THW	$290.2K	22,253	0.09%	-0.11pp	15q	-52.6%-$321.7K
CHUBB LIMITED	CB	$288.7K	888	0.09%	flat	7q	HELD
OSCAR HEALTH INC	OSCR	$286.5K	9,291	0.09%	+0.01pp	3q	HELD
RAMACO RES INC	METCB	$282.9K	63,003	0.09%	-0.08pp	5q	+1.2%+$3.3K
PUTNAM ETF TRUST	PBDC	$282.0K	10,475	0.09%	+0.02pp	4q	+33.3%+$70.5K
CHIRON REAL ESTATE INC	XRN	$278.5K	8,012	0.09%	flat	5q	+3.9%+$10.4K
HECLA MINING COMPANY	HL	$276.3K	16,223	0.09%	flat	5q	-5.2%-$15.3K
MEDICAL PROPERTIES TRUST INC	MPT	$273.2K	78,958	0.09%	-0.06pp	20q	-20.8%-$71.7K
NUVEEN PFD & INCOME OPPORTUN	JPC	$272.7K	39,990	0.09%	-0.10pp	12q	-46.6%-$238.0K
ELEVANCE HEALTH INC FORMERLY	ELV	$270.5K	696	0.08%	flat	20q	-1.3%-$3.5K
STARBUCKS CORP	SBUX	$268.3K	2,856	0.08%	-0.01pp	28q	HELD
IRON MTN INC DEL	IRM	$265.2K	2,391	0.08%	-0.01pp	7q	+0.5%+$1.4K
HIGHWOODS PPTYS INC	HIW	$259.7K	8,948	0.08%	flat	2q	+3.6%+$9.1K
ISHARES TR	IBB	$259.3K	1,232	0.08%	+0.01pp	4q	HELD
TARGET CORP	TGT	$258.9K	1,652	0.08%	+0.02pp	2q	+6.4%+$15.5K
WELLTOWER INC	WELL	$254.5K	1,105	0.08%	flat	5q	HELD
CALAMOS DYNAMIC CONV & INCOM	CCD	$254.0K	11,228	0.08%	-0.12pp	11q	-55.2%-$313.2K
SELECT SECTOR SPDR TR	XLV	$248.5K	1,476	0.08%	+0.01pp	16q	+1.2%+$2.9K
HANCOCK JOHN FINL OPPTYS	BTO	$246.9K	6,882	0.08%	-0.11pp	14q	-54.0%-$290.2K
VANGUARD INDEX FDS	VOT	$244.5K	837	0.08%	flat	12q	HELD
LIBERTY ALL STAR EQUITY FD	USA	$242.8K	42,081	0.08%	-0.06pp	16q	-45.0%-$198.4K
FLAHERTY & CRUMRINE DYNAMIC	DFP	$242.3K	12,832	0.08%	-0.10pp	14q	-53.0%-$273.4K
ISHARES TR	IWB	$241.2K	580	0.08%	flat	5q	HELD
VANGUARD INDEX FDS	VBK	$241.1K	714	0.08%	flat	2q	+10.9%+$23.6K
UMH PPTYS INC	UMH	$239.4K	15,546	0.07%	flat	7q	+2.9%+$6.7K
INTERNATIONAL BUSINESS MACHS	IBM	$239.0K	1,087	0.07%	-0.02pp	7q	HELD
ENTERGY CORP NEW	ETR	$238.9K	2,407	0.07%	-0.01pp	3q	HELD
nan	MELI	$238.7K	138	0.07%	flat	2q	+3.8%+$8.6K
RIVERNORTH MANAGED DUR MUN I	RMM	$237.5K	18,937	0.07%	-0.10pp	5q	-50.7%-$244.5K
KITE REALTY GROUP TRUST	KRG	$236.4K	9,692	0.07%	-0.02pp	7q	-4.8%-$11.8K
REGENERON PHARMACEUTICALS	REGN	$236.1K	311	0.07%	-	new	NEW
HOST HOTELS & RESORTS INC	HST	$234.3K	10,466	0.07%	flat	3q	HELD
VANGUARD WORLD FD	VGT	$233.2K	1,855	0.07%	flat	2q	HELD
SEA LTD	SE	$231.9K	2,382	0.07%	-0.01pp	12q	-8.3%-$20.9K
ISHARES TR	IYH	$231.2K	3,231	0.07%	flat	2q	HELD
APOLLO COML REAL ESTATE FIN	ARI	$231.0K	37,262	0.07%	-0.12pp	28q	-35.1%-$125.1K
PIMCO DYNAMIC INCOME FD	PDI	$230.9K	16,457	0.07%	-0.10pp	14q	-50.0%-$231.0K
HALOZYME THERAPEUTICS INC	HALO	$229.8K	2,082	0.07%	-	new	NEW
PINTEREST INC	PINS	$228.5K	12,094	0.07%	-0.02pp	2q	-13.4%-$35.4K
CORNING INC	GLW	$228.4K	1,485	0.07%	-0.04pp	2q	+2.4%+$5.4K
SPDR INDEX SHS FDS	EDIV	$227.9K	5,676	0.07%	flat	6q	+1.0%+$2.2K
ASML HLDG NV	ASML	$226.7K	125	0.07%	-0.02pp	2q	-12.0%-$30.8K
PHILLIPS 66	PSX	$226.7K	888	0.07%	-	new	NEW
AGNC INVT CORP	AGNC	$226.3K	24,956	0.07%	-0.08pp	18q	-42.2%-$165.1K
EXPEDIA GROUP INC	EXPE	$225.2K	855	0.07%	flat	5q	-7.5%-$18.2K
NORTHROP GRUMMAN CORP	NOC	$224.5K	464	0.07%	flat	16q	-0.9%-$1.9K
TAIWAN SEMICONDUCTOR MANUFAC	TSM	$224.4K	492	0.07%	-0.01pp	2q	-3.7%-$8.7K
ACCENTURE PLC IRELAND	ACN	$224.1K	1,222	0.07%	-	new	NEW
BLOCK H & R INC	HRB	$223.6K	5,474	0.07%	-	new	NEW
CTO RLTY GROWTH INC NEW	CTO	$222.3K	10,847	0.07%	flat	3q	-1.4%-$3.2K
S&P GLOBAL INC	SPGI	$220.9K	560	0.07%	flat	14q	-3.3%-$7.5K
DISNEY WALT CO	DIS	$213.0K	2,030	0.07%	-	new	NEW
MASTERCARD INCORPORATED	MA	$212.6K	385	0.07%	-	new	NEW
ALGONQUIN POWER & UTILITIES	AQN	$208.6K	41,472	0.07%	-0.07pp	10q	-42.1%-$151.4K
GE AEROSPACE	GE	$208.0K	666	0.07%	-0.01pp	2q	HELD
SOUTHERN CO	SO	$208.0K	2,509	0.07%	-0.01pp	9q	HELD
ONEOK INC NEW	OKE	$207.8K	2,437	0.07%	-	new	NEW
REGIONS FINANCIAL CORP NEW	RF	$207.1K	7,704	0.06%	-0.01pp	7q	-7.5%-$16.9K
COLGATE PALMOLIVE CO	CL	$206.1K	2,416	0.06%	flat	7q	HELD
ISHARES TR	PFF	$204.7K	6,939	0.06%	flat	2q	+1.1%+$2.2K
CENTERSPACE	CSR	$204.5K	3,759	0.06%	-	new	NEW
WESTERN UN CO	WU	$204.5K	34,654	0.06%	-0.01pp	5q	+14.0%+$25.1K
XPLR INFRASTRUCTURE LP	XIFR	$203.4K	19,431	0.06%	-0.08pp	14q	-49.4%-$198.7K
COHEN & STEERS REAL ESTATE O	RLTY	$203.1K	14,661	0.06%	-0.01pp	8q	+2.1%+$4.2K
FEDERAL RLTY INVT TR NEW	FRT	$201.3K	1,859	0.06%	-0.01pp	2q	+0.9%+$1.8K
SUMMIT HOTEL PPTYS	INN	$200.2K	33,527	0.06%	-0.01pp	5q	HELD
OXFORD LANE CAP CORP	OXLC	$199.6K	22,150	0.06%	-0.06pp	5q	-52.4%-$219.7K
PENNYMAC MTG INVT TR	PMT	$198.8K	25,224	0.06%	flat	18q	+51.0%+$67.1K
AMPLIFY ETF TR	YYY	$196.9K	18,967	0.06%	flat	5q	+7.7%+$14.0K
BANCO SANTANDER S.A.	SAN	$195.1K	14,104	0.06%	flat	5q	HELD
ANNALY CAPITAL MANAGEMENT IN	NLY	$190.2K	10,069	0.06%	-0.07pp	15q	-46.5%-$165.5K
KIMBELL RTY PARTNERS LP	KRP	$183.8K	12,868	0.06%	-0.06pp	5q	-51.9%-$198.5K
NKARTA INC	NKTX	$179.9K	68,658	0.06%	+0.02pp	8q	+68.5%+$73.1K
LAZARD GLOBAL TOTAL RETURN &	LGI	$172.2K	10,117	0.05%	-	new	NEW
HIGHLAND OPPS & INCOME FD	HFRO	$167.4K	25,129	0.05%	-0.07pp	15q	-55.1%-$205.7K
TRIPLEPOINT VENTURE GROWTH B	TPVG	$163.3K	33,596	0.05%	-0.04pp	16q	-45.6%-$136.8K
ARES COML REAL ESTATE CORP	ACRE	$160.1K	41,691	0.05%	-0.07pp	15q	-49.2%-$154.9K
ORION OFFICE REIT INC	ONL	$156.1K	62,699	0.05%	-0.08pp	15q	-56.2%-$200.5K
Banco Bradesco SA	BBD	$155.6K	44,193	0.05%	flat	5q	+3.6%+$5.4K
STARWOOD PPTY TR INC	STWD	$153.4K	11,364	0.05%	-0.03pp	28q	-28.8%-$62.0K
BLACKROCK LTD DURATION INCOM	BLW	$150.0K	13,054	0.05%	flat	5q	+2.4%+$3.6K
PLUG PWR INC	PLUG	$148.4K	76,500	0.05%	-0.01pp	5q	+20.5%+$25.2K
LADDER CAP CORP	LADR	$146.9K	16,824	0.05%	flat	5q	+10.0%+$13.4K
GOLDMAN SACHS BDC INC	GSBD	$138.1K	15,192	0.04%	flat	5q	+3.9%+$5.2K
CONAGRA BRANDS INC	CAG	$136.9K	10,188	0.04%	-	new	NEW
BNY MELLON MUN BD INFRASTRUC	DMB	$132.9K	14,128	0.04%	-0.07pp	15q	-55.0%-$162.7K
SLR INVESTMENT CORP	SLRC	$132.3K	11,419	0.04%	-0.03pp	14q	-40.5%-$90.2K
EAGLE POINT CR CO	ECC	$122.1K	35,286	0.04%	-0.05pp	15q	-52.9%-$137.3K
FLAGSTAR BANK NATIONAL ASSOC	FLG	$121.7K	10,425	0.04%	-0.01pp	4q	HELD
BRIGHTSPIRE CAPITAL INC	BRSP	$121.3K	31,668	0.04%	-0.07pp	15q	-48.9%-$115.8K
ENERGY TRANSFER L P	ETPRI	$117.6K	10,684	0.04%	flat	3q	HELD
BLACKROCK CORPOR HI YLD FD I	HYT	$112.6K	14,366	0.04%	-0.04pp	18q	-47.8%-$102.9K
JUMIA TECHNOLOGIES AG	JMIA	$109.5K	16,470	0.03%	flat	4q	+4.8%+$5.0K
REALLOYS INC	ALOY	$104.9K	12,840	0.03%	-	new	NEW
GREYSTONE HOUSING IMPACT INV	GHI	$103.5K	18,165	0.03%	-0.01pp	18q	-27.0%-$38.4K
WESTERN ASSET HIGH INCOME OP	HIO	$99.9K	30,659	0.03%	+0.01pp	5q	+34.0%+$25.4K
KYVERNA THERAPEUTICS INC	KYTX	$78.8K	11,595	0.02%	-0.01pp	2q	HELD
HERTZ GLOBAL HLDGS INC	HTZ	$78.5K	47,000	0.02%	flat	2q	+22.1%+$14.2K
NUVEEN FLOATING RATE INCOME	JFR	$75.4K	10,130	0.02%	-	new	NEW
ARBOR REALTY TRUST INC	ABR	$71.0K	141,787	0.02%	flat	5q	+1232.5%+$65.6K
PROSPECT CAP CORP	PSEC	$38.0K	18,274	0.01%	-	new	NEW
U S GLOBAL INVS INC	GROW	$34.7K	12,060	0.01%	flat	5q	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
Funds & ETFs	$46.7M	14.6%
Software & IT Services	$17.1M	5.4%
Capital Markets	$15.4M	4.8%
Real Estate	$14.5M	4.5%
Banks & Lending	$10.1M	3.2%
Biotech & Pharma	$10.0M	3.1%
Energy	$10.0M	3.1%
Insurance	$9.1M	2.9%
Semiconductors & Electronics	$8.4M	2.6%
Computer Hardware	$8.2M	2.6%
Transport & Logistics	$7.9M	2.5%
Retail & Consumer	$4.8M	1.5%
Other sectors	$23.8M	7.5%
Not classified	$133.2M	41.7%

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	-0.8%	+2.1%	-2.9%	97%
Q2 2026	+9.0%	+14.8%	-5.8%	100%
Q1 2026	-2.0%	-4.6%	+2.6%	99%
Q4 2025	+1.5%	+2.4%	-0.8%	100%
Q3 2025	+7.5%	+7.8%	-0.4%	100%
Q2 2025	+5.5%	+10.5%	-4.9%	100%
Q1 2025	-1.5%	-4.6%	+3.0%	100%
Q4 2024	-0.6%	+2.1%	-2.7%	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	$319.3M	330	27	126	110	31	20.3%	23
Q2 2026	$320.0M	334	33	109	139	18	20.1%	27
Q1 2026	$282.0M	319	25	103	143	18	18.6%	23
Q4 2025	$282.0M	312	17	111	149	32	20.8%	30
Q3 2025	$290.6M	327	43	160	95	10	20.2%	30
Q2 2025	$261.0M	294	12	149	107	35	19.7%	38
Q1 2025	$246.7M	317	39	176	72	15	18.3%	44
Q4 2024	$233.0M	293	38	125	87	29	19.3%	42
Q3 2024	$229.8M	284	21	139	87	11	19.1%	44
Q2 2024	$214.0M	274	8	157	69	11	19.4%	44
Q1 2024	$209.9M	277	21	107	114	15	18.6%	43
Q4 2023	$198.0M	271	27	118	95	12	19.1%	45
Q3 2023	$174.1M	256	10	116	107	29	19.6%	44
Q2 2023	$185.0M	275	33	130	84	20	21.8%	34
Q1 2023	$165.8M	262	27	99	93	14	21.7%	39
Q4 2022	$158.2M	249	39	88	88	20	20.3%	41
Q3 2022	$136.3M	230	18	104	64	16	22.3%	41
Q2 2022	$141.9M	228	10	116	56	30	21.6%	46
Q1 2022	$164.9M	248	21	127	68	27	21.9%	197
Q4 2021	$166.5M	254	28	116	77	12	22.8%	287
Q3 2021	$153.7M	238	21	111	53	16	22.3%	379
Q2 2021	$154.3M	233	19	51	123	16	22.2%	471
Q1 2021	$149.0M	230	27	106	69	20	21.1%	41
Q4 2020	$133.2M	223	36	81	81	13	22.4%	652
Q3 2020	$112.1M	200	39	76	67	8	25.7%	744
Q2 2020	$95.5M	169	32	71	51	9	29.6%	36
Q1 2020	$74.7M	146	7	50	72	403	32.1%	34
Q4 2019	$119.1M	542	0	0	0	0	24.7%	36

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.