DaveManuel.com · Institutional Ownership · 13F Holdings
Somerset Trust Co
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| MICROSOFT CORP | MSFT | $18.4M | 35,861 | +1.41pp | 32q | HELD | |
| APPLE INC | AAPL | $17.3M | 51,905 | +0.48pp | 32q | -3.5%-$621.4K | |
| CISCO SYS INC | CSCO | $11.6M | 108,162 | -0.39pp | 32q | -2.3%-$270.0K | |
| JPMORGAN CHASE & CO | JPM | $10.7M | 32,449 | -0.02pp | 32q | -1.5%-$165.4K | |
| JOHNSON & JOHNSON | JNJ | $10.4M | 39,398 | +0.09pp | 32q | -1.1%-$110.9K | |
| ANALOG DEVICES INC | ADI | $10.2M | 25,629 | -0.08pp | 32q | -2.5%-$259.4K | |
| AMGEN INC | AMGN | $9.0M | 21,274 | +0.35pp | 32q | HELD | |
| WALMART INC | WMT | $8.0M | 77,459 | -0.23pp | 32q | -0.7%-$59.4K | |
| RTX CORPORATION | RTX | $7.4M | 39,637 | -0.05pp | 26q | HELD | |
| NEXTERA ENERGY INC | NEE | $7.1M | 93,965 | -0.33pp | 32q | HELD | |
| MICRON TECHNOLOGY INC | MU | $6.6M | 6,185 | -0.18pp | 23q | -1.2%-$76.7K | |
| FIRST TR EXCHANGE-TRADED FD | FDN | $6.5M | 22,605 | +0.15pp | 32q | HELD | |
| BROADCOM INC | AVGO | $6.2M | 17,720 | -0.17pp | 6q | -1.7%-$109.2K | |
| AFLAC INC | AFL | $6.0M | 53,655 | -0.12pp | 32q | -1.8%-$108.3K | |
| LOWES COS INC | LOW | $5.7M | 30,848 | -0.33pp | 32q | -0.8%-$44.6K | |
| NORFOLK SOUTHN CORP | NSC | $5.5M | 17,816 | -0.05pp | 32q | -1.3%-$72.3K | |
| ILLINOIS TOOL WKS INC | ITW | $5.4M | 20,986 | -0.09pp | 32q | -0.6%-$31.1K | |
| LINDE PLC | LIN | $5.4M | 11,298 | -0.16pp | 15q | -1.1%-$60.3K | |
| PHILLIPS 66 | PSX | $5.4M | 20,982 | +0.50pp | 32q | -1.5%-$81.4K | |
| AUTOMATIC DATA PROCESSING IN | ADP | $5.2M | 20,020 | +0.18pp | 32q | -0.6%-$31.7K | |
| COSTCO WHOLESALE CORPORATION | COST | $5.1M | 5,631 | -0.03pp | 32q | +0.6%+$31.9K | |
| BLACKROCK INC | BLK | $5.0M | 4,727 | +0.12pp | 8q | -0.5%-$27.5K | |
| GENERAL DYNAMICS CORP | GD | $5.0M | 14,998 | -0.13pp | 32q | -1.9%-$98.6K | |
| META PLATFORMS INC | META | $4.8M | 6,644 | +0.31pp | 6q | HELD | |
| L3HARRIS TECHNOLOGIES INC | LHX | $4.8M | 20,167 | -0.32pp | 30q | HELD | |
| CHUBB LIMITED | CB | $4.6M | 14,253 | -0.09pp | 32q | -2.1%-$99.9K | |
| ABBOTT LABORATORIES | ABT | $4.5M | 45,945 | +0.10pp | 32q | HELD | |
| MCDONALDS CORP | MCD | $4.4M | 19,022 | -0.21pp | 32q | HELD | |
| EMERSON ELEC CO | EMR | $4.3M | 27,500 | +0.08pp | 32q | -1.0%-$42.5K | |
| MEDTRONIC PLC | MDT | $4.2M | 48,249 | +0.11pp | 32q | HELD | |
| MASTERCARD INCORPORATED | MA | $4.1M | 7,374 | +0.08pp | 21q | HELD | |
| ALPHABET INC | GOOGL | $3.8M | 11,189 | -0.03pp | 24q | +0.9%+$33.4K | |
| AIR PRODUCTS AND CHEMICALS I | APD | $3.8M | 13,636 | -0.06pp | 32q | HELD | |
| WEC ENERGY GROUP INC | WEC | $3.8M | 37,624 | -0.18pp | 32q | HELD | |
| ROSS STORES INC | ROST | $3.5M | 14,886 | +0.08pp | 32q | HELD | |
| PROCTER & GAMBLE CO | PG | $3.4M | 23,298 | -0.01pp | 32q | HELD | |
| PAYCHEX INC | PAYX | $3.4M | 34,191 | flat | 32q | HELD | |
| CHEVRON CORPORATION | CVX | $3.2M | 15,726 | +0.17pp | 32q | HELD | |
| MORGAN STANLEY | MS | $3.2M | 17,071 | -0.11pp | 23q | -0.5%-$17.7K | |
| BECTON DICKINSON CO | BDX | $3.2M | 17,783 | +0.14pp | 32q | HELD | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $3.0M | 6,531 | -0.04pp | 24q | HELD | |
| PEPSICO INC | PEP | $2.9M | 22,828 | -0.06pp | 32q | HELD | |
| EVERSOURCE ENERGY | ES | $2.7M | 41,950 | -0.10pp | 32q | HELD | |
| CONSTELLATION ENERGY CORP | CEG | $2.7M | 10,559 | +0.02pp | 6q | HELD | |
| ACCENTURE PLC IRELAND | ACN | $2.5M | 13,738 | +0.23pp | 32q | HELD | |
| COLGATE PALMOLIVE CO | CL | $2.4M | 28,362 | -0.05pp | 32q | HELD | |
| HOME DEPOT INC | HD | $2.4M | 8,454 | -0.15pp | 32q | +1.1%+$25.9K | |
| ISHARES TR | SOXX | $2.2M | 3,881 | -0.04pp | 5q | +5.9%+$122.3K | |
| QUEST DIAGNOSTICS INC | DGX | $2.2M | 9,326 | +0.06pp | 32q | HELD | |
| NVIDIA CORPORATION | NVDA | $2.0M | 8,902 | +0.07pp | 15q | HELD | |
| CAPITAL ONE FINL CORP | COF | $2.0M | 10,492 | -0.02pp | 32q | +0.7%+$13.1K | |
| CITIGROUP INC | C | $1.9M | 14,985 | -0.04pp | 32q | HELD | |
| J P MORGAN EXCHANGE TRADED F | JEPI | $1.9M | 34,184 | +0.02pp | 17q | +4.3%+$79.8K | |
| US BANCORP | USB | $1.9M | 32,989 | -0.03pp | 32q | HELD | |
| ISHARES TR | ITOT | $1.7M | 10,391 | +0.01pp | 19q | HELD | |
| DYCOM INDS INC | DY | $1.7M | 6,356 | -0.42pp | 20q | +1.1%+$19.1K | |
| METLIFE INC | MET | $1.7M | 17,928 | +0.05pp | 32q | +1.0%+$17.3K | |
| AT&T INC | T | $1.7M | 67,841 | +0.07pp | 32q | -1.0%-$16.5K | |
| TESLA INC | TSLA | $1.5M | 4,333 | -0.08pp | 14q | +1.0%+$15.6K | |
| INVESCO EXCHANGE TRADED FD T | RSPG | $1.5M | 14,201 | +0.04pp | 14q | +1.6%+$23.5K | |
| FEDERATED HERMES ETF TRUST | FLCG | $1.5M | 42,213 | +0.04pp | 3q | +2.5%+$37.2K | |
| ISHARES TR | PFF | $1.5M | 50,414 | -0.01pp | 32q | +1.0%+$14.2K | |
| COMCAST CORP NEW | CMCSA | $1.4M | 65,024 | -0.06pp | 27q | -2.8%-$40.5K | |
| CLOROX CO DEL | CLX | $1.4M | 17,405 | -0.07pp | 32q | HELD | |
| LAM RESEARCH CORP | LRCX | $1.3M | 3,962 | -0.12pp | 8q | -1.2%-$16.4K | |
| MERCK & CO INC | MRK | $1.3M | 8,733 | +0.04pp | 21q | HELD | |
| INNOVATOR ETFS TRUST | BALT | $1.2M | 34,185 | +0.09pp | 2q | +31.3%+$284.6K | |
| APPLIED MATLS INC | AMAT | $1.2M | 2,311 | -0.14pp | 11q | -1.3%-$15.3K | |
| GILEAD SCIENCES INC | GILD | $1.2M | 7,896 | +0.05pp | 32q | +1.5%+$17.6K | |
| REDDIT INC | RDDT | $1.1M | 7,500 | -0.07pp | 6q | HELD | |
| GLOBAL X FDS | AIQ | $1.0M | 15,843 | +0.01pp | 2q | +5.1%+$50.5K | |
| ABBVIE INC | ABBV | $981.5K | 3,752 | +0.01pp | 20q | -1.3%-$13.1K | |
| ISHARES TR | HEWJ | $977.0K | 14,968 | +0.01pp | 13q | +0.9%+$8.4K | |
| EXCHANGE TRADED CONCEPTS TRU | NUKZ | $935.8K | 15,537 | -0.03pp | 5q | +2.2%+$20.1K | |
| NIKE INC | NKE | $931.9K | 26,324 | -0.04pp | 32q | +0.6%+$5.5K | |
| DIAMONDBACK ENERGY INC | FANG | $930.4K | 5,062 | +0.01pp | 20q | +0.7%+$6.6K | |
| ISHARES TR | IVV | $860.0K | 1,123 | flat | 19q | -1.7%-$14.6K | |
| ALPHABET INC | GOOG | $851.9K | 2,500 | -0.01pp | 5q | HELD | |
| FIVE BELOW INC | FIVE | $849.7K | 3,870 | +0.05pp | 24q | +1.1%+$9.0K | |
| KEYSIGHT TECHNOLOGIES INC | KEYS | $840.6K | 2,309 | +0.01pp | 26q | -1.1%-$9.1K | |
| VANGUARD INTL EQUITY INDEX F | VWO | $820.3K | 13,830 | +0.01pp | 5q | +7.6%+$57.6K | |
| VERIZON COMMUNICATIONS INC | VZ | $806.9K | 17,592 | +0.02pp | 32q | +1.7%+$13.4K | |
| NEWMONT CORP | NEM | $766.9K | 6,649 | +0.04pp | 7q | +1.3%+$9.6K | |
| ELI LILLY & CO | LLY | $735.9K | 636 | -0.01pp | 16q | HELD | |
| R B C BEARINGS INC | RBC | $731.4K | 1,465 | -0.06pp | 14q | -0.7%-$5.5K | |
| NUTRIEN LTD | NTR | $730.9K | 10,404 | +0.03pp | 32q | +3.4%+$23.8K | |
| INVESCO EXCH TRADED FD TR II | PSCT | $695.6K | 8,607 | -0.05pp | 32q | -7.2%-$54.0K | |
| TENET HEALTHCARE CORP | THC | $674.7K | 2,640 | +0.05pp | 7q | +1.3%+$8.4K | |
| ENTERPRISE PRODS PARTNERS L | EPD | $642.2K | 18,035 | -0.01pp | 6q | HELD | |
| SPDR SERIES TRUST | SPYG | $623.8K | 5,068 | flat | 22q | -0.8%-$4.8K | |
| IRON MTN INC DEL | IRM | $602.2K | 5,428 | -0.02pp | 11q | HELD | |
| BLUE BIRD CORP | BLBD | $602.0K | 10,847 | -0.07pp | 6q | +1.0%+$5.8K | |
| AMPHENOL CORP | APH | $601.1K | 7,131 | -0.01pp | 2q | +1.6%+$9.5K | |
| VULCAN MATLS CO | VMC | $584.4K | 2,389 | -0.03pp | 17q | HELD | |
| THE CIGNA GROUP | CI | $583.9K | 2,148 | flat | 32q | +1.9%+$11.1K | |
| PACKAGING CORP AMER | PKG | $575.4K | 2,510 | -0.02pp | 32q | -6.5%-$39.9K | |
| HERSHEY CO | HSY | $572.0K | 3,629 | -0.01pp | 19q | +4.0%+$22.2K | |
| SPDR SERIES TRUST | XAR | $564.7K | 2,442 | -0.04pp | 7q | HELD | |
| STARBUCKS CORP | SBUX | $561.0K | 5,971 | -0.01pp | 25q | +1.1%+$5.9K | |
| CBOE GLOBAL MKTS INC | CBOE | $543.1K | 1,973 | +0.02pp | 26q | -1.0%-$5.5K | |
| ISHARES TR | IJH | $541.1K | 7,520 | -0.03pp | 32q | -9.2%-$54.7K | |
| SHOPIFY INC | SHOP | $520.4K | 3,509 | +0.03pp | 8q | HELD | |
| SONY GROUP CORP | SONY | $518.4K | 22,031 | +0.02pp | 9q | +1.5%+$7.6K | |
| SELECTIVE INS GROUP INC | SIGI | $504.3K | 6,032 | -0.01pp | 19q | +6.5%+$30.7K | |
| SPDR GOLD TR | GLD | $481.8K | 1,265 | flat | 20q | HELD | |
| AMERIPRISE FINL INC | AMP | $481.0K | 977 | +0.01pp | 10q | HELD | |
| AMAZON COM INC | AMZN | $477.9K | 1,918 | +0.01pp | 14q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $474.0K | 952 | +0.03pp | 21q | +31.5%+$113.5K | |
| TRAVELERS COMPANIES INC | TRV | $473.8K | 1,329 | +0.01pp | 9q | +1.1%+$5.3K | |
| CIRRUS LOGIC INC | CRUS | $445.6K | 3,714 | -0.03pp | 7q | +2.1%+$9.4K | |
| ISHARES TR | IJR | $443.9K | 3,263 | -0.02pp | 32q | -8.9%-$43.4K | |
| SPDR SERIES TRUST | SPYV | $430.1K | 7,036 | flat | 22q | HELD | |
| LEIDOS HOLDINGS INC | LDOS | $422.1K | 3,465 | +0.02pp | 12q | +1.8%+$7.6K | |
| ALTRIA GROUP INC | MO | $400.5K | 5,948 | -0.01pp | 8q | HELD | |
| HUBBELL INC | HUBB | $396.9K | 875 | -0.02pp | 32q | HELD | |
| TKO GROUP HOLDINGS INC | TKO | $396.3K | 2,205 | -0.01pp | 7q | HELD | |
| EXXONMOBIL HOLDINGS CORP | XOM | $393.2K | 2,416 | - | new | NEW | |
| THERMO FISHER SCIENTIFIC INC | TMO | $392.2K | 581 | +0.03pp | 12q | +2.8%+$10.8K | |
| ALIBABA GROUP HLDG LTD | BABA | $387.3K | 3,601 | +0.01pp | 6q | HELD | |
| D R HORTON INC | DHI | $384.5K | 2,814 | -0.02pp | 11q | HELD | |
| PENTAIR PLC | PNR | $383.4K | 7,236 | -0.05pp | 32q | +2.1%+$7.7K | |
| FEDEX CORP | FDX | $361.2K | 1,267 | -0.01pp | 16q | +1.4%+$4.8K | |
| EATON VANCE TAX MNGED BUY WR | ETB | $359.4K | 23,446 | flat | 6q | HELD | |
| CORPAY INC | CPAY | $356.7K | 918 | +0.01pp | 4q | -1.2%-$4.3K | |
| EQT Corp | EQT | $351.5K | 7,238 | -0.01pp | 8q | HELD | |
| UNION PAC CORP | UNP | $338.8K | 1,245 | flat | 20q | +1.6%+$5.4K | |
| FIRST COMWLTH FINL CORP PA | FCF | $338.4K | 16,728 | flat | 10q | HELD | |
| TE CONNECTIVITY PLC | TEL | $335.8K | 1,591 | flat | 7q | HELD | |
| INVESCO EXCH TRADED FD TR II | PSCH | $333.9K | 6,412 | -0.02pp | 32q | -14.9%-$58.4K | |
| INVESCO EXCH TRD SLF IDX FD | BSCS | $327.4K | 16,269 | +0.03pp | 2q | +51.4%+$111.1K | |
| GLOBAL X FDS | MLPX | $323.8K | 4,637 | -0.01pp | 7q | HELD | |
| BJS RESTAURANTS INC | BJRI | $323.5K | 5,646 | -0.01pp | 4q | -4.5%-$15.3K | |
| GUIDEWIRE SOFTWARE INC | GWRE | $319.0K | 2,237 | +0.01pp | 13q | -1.1%-$3.6K | |
| SYMBOTIC INC | SYM | $312.5K | 7,427 | -0.01pp | 6q | HELD | |
| WASTE CONNECTIONS INC | WCN | $307.7K | 1,999 | -0.01pp | 26q | -0.8%-$2.6K | |
| DISNEY WALT CO | DIS | $307.4K | 2,930 | +0.01pp | 24q | +1.6%+$4.9K | |
| ISHARES TR | IEFA | $302.9K | 3,127 | flat | 7q | HELD | |
| GENERAC HLDGS INC | GNRC | $300.3K | 1,451 | -0.04pp | 11q | -2.4%-$7.2K | |
| INVESCO EXCH TRD SLF IDX FD | BSCT | $295.1K | 16,214 | +0.03pp | 2q | +46.3%+$93.4K | |
| GOLDMAN SACHS GROUP INC | GS | $292.6K | 325 | -0.01pp | 6q | HELD | |
| MPLX LP | MPLX | $288.4K | 5,120 | flat | 6q | HELD | |
| HANOVER INS GROUP INC | THG | $282.2K | 1,318 | flat | 7q | HELD | |
| VISA INC | V | $281.4K | 783 | flat | 7q | HELD | |
| BLOOM ENERGY CORP | BE | $277.0K | 1,000 | -0.01pp | 2q | HELD | |
| DECKERS OUTDOOR CORP | DECK | $275.4K | 3,525 | -0.02pp | 11q | HELD | |
| INVESCO EXCH TRD SLF IDX FD | BSCU | $275.3K | 17,056 | +0.02pp | 2q | +50.8%+$92.8K | |
| CVS HEALTH CORP | CVS | $270.4K | 3,156 | -0.01pp | 7q | +1.5%+$4.0K | |
| REGENCY CTRS CORP | REG | $265.5K | 3,694 | flat | 3q | +7.9%+$19.6K | |
| BERKLEY W R CORP | WRB | $264.6K | 3,917 | flat | 20q | -1.4%-$3.7K | |
| MICROCHIP TECHNOLOGY INC. | MCHP | $263.5K | 3,388 | -0.01pp | 6q | HELD | |
| AECOM | ACM | $262.9K | 4,459 | -0.01pp | 18q | +3.9%+$9.8K | |
| LABCORP HOLDINGS INC | LH | $261.9K | 850 | +0.01pp | 6q | HELD | |
| ROUNDHILL ETF TRUST | DRAM | $253.5K | 4,200 | - | new | NEW | |
| INVESCO EXCH TRD SLF IDX FD | BSCV | $250.0K | 15,850 | +0.02pp | 2q | +38.4%+$69.3K | |
| INVESCO EXCH TRD SLF IDX FD | BSCW | $246.4K | 12,579 | +0.01pp | 2q | +15.1%+$32.2K | |
| CHEMED CORP NEW | CHE | $245.5K | 486 | flat | 2q | -0.8%-$2.0K | |
| RLI CORP | RLI | $245.2K | 4,433 | -0.01pp | 26q | -1.0%-$2.4K | |
| STAG INDUSTRIAL INC | STAG | $243.9K | 6,811 | -0.01pp | 16q | -1.0%-$2.4K | |
| MGM RESORTS INTERNATIONAL | MGM | $241.8K | 7,787 | -0.04pp | 23q | -1.0%-$2.4K | |
| INVESCO EXCH TRD SLF IDX FD | BSCR | $239.9K | 12,276 | - | new | NEW | |
| APPFOLIO INC | APPF | $239.4K | 1,194 | - | new | NEW | |
| CTO RLTY GROWTH INC NEW | CTO | $233.9K | 11,417 | flat | 7q | HELD | |
| VANGUARD WORLD FD | VHT | $231.7K | 733 | flat | 2q | +2.2%+$5.1K | |
| INVESCO EXCH TRD SLF IDX FD | BSCX | $231.0K | 11,553 | flat | 2q | +10.7%+$22.4K | |
| REALTY INCOME CORP | O | $226.5K | 4,172 | -0.01pp | 7q | +1.7%+$3.8K | |
| SPDR SERIES TRUST | MDYG | $226.1K | 2,163 | flat | 6q | HELD | |
| EVEREST GROUP LTD | EG | $225.7K | 618 | flat | 2q | +2.0%+$4.4K | |
| CENTENE CORP DEL | CNC | $222.5K | 3,582 | flat | 2q | HELD | |
| ISHARES TR | IWM | $222.3K | 800 | -0.01pp | 2q | HELD | |
| BROWN BROWN INC | BRO | $221.3K | 3,634 | flat | 24q | -1.1%-$2.4K | |
| F N B CORP | FNB | $220.2K | 12,794 | -0.01pp | 18q | HELD | |
| UNITED PARCEL SVCS INC | UPS | $218.7K | 2,341 | -0.01pp | 4q | +1.9%+$4.1K | |
| GALLAGHER ARTHUR J CO | AJG | $217.8K | 955 | flat | 32q | -5.0%-$11.4K | |
| CHEWY INC | CHWY | $211.7K | 11,630 | -0.01pp | 18q | -0.6%-$1.3K | |
| CSX CORP | CSX | $210.4K | 4,523 | flat | 2q | HELD | |
| EASTGROUP PPTYS INC | EGP | $209.1K | 1,059 | flat | 2q | HELD | |
| AMERICAN EXPRESS CO | AXP | $207.1K | 681 | -0.01pp | 6q | HELD | |
| SPDR SERIES TRUST | MDYV | $205.9K | 2,326 | flat | 5q | HELD | |
| INVESCO EXCH TRD SLF IDX FD | BSCY | $205.5K | 10,530 | - | new | NEW | |
| CINTAS CORP | CTAS | $204.0K | 1,046 | - | new | NEW | |
| WYNN RESORTS LTD | WYNN | $203.4K | 2,561 | -0.01pp | 5q | +1.0%+$2.1K | |
| WATSCO INC | WSO | $203.4K | 672 | -0.02pp | 4q | -1.2%-$2.4K | |
| INVESCO BULLETSHS 2035 | BSCZ | $199.5K | 10,378 | - | new | NEW | |
| INFOSYS LTD | INFY | $186.4K | 17,322 | flat | 21q | +3.8%+$6.8K | |
| Venture Global Inc | VG | $126.4K | 10,000 | flat | 3q | HELD | |
| RECONSTRUCTIVE TECHNOLOGIES INC SERIES A PFD | $15.0K | 15,000 | flat | 2q | 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 |
|---|---|---|
| Semiconductors & Electronics | $36.2M | 10.2% |
| Software & IT Services | $35.8M | 10.1% |
| Retail & Consumer | $31.8M | 9.0% |
| Computer Hardware | $28.9M | 8.2% |
| Biotech & Pharma | $28.1M | 7.9% |
| Autos & Aerospace | $19.2M | 5.4% |
| Chemicals | $18.3M | 5.2% |
| Banks & Lending | $17.4M | 4.9% |
| Utilities | $16.6M | 4.7% |
| Insurance | $16.0M | 4.5% |
| Business Services | $11.7M | 3.3% |
| Energy | $11.0M | 3.1% |
| Other sectors | $52.4M | 14.8% |
| Not classified | $30.4M | 8.6% |
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 | +0.3% | +2.1% | -1.8% | 100% |
| Q2 2026 | +7.2% | +14.8% | -7.6% | 100% |
| Q1 2026 | -0.7% | -4.6% | +3.9% | 100% |
| Q4 2025 | +0.9% | +2.4% | -1.5% | 100% |
| Q3 2025 | +5.9% | +7.8% | -1.9% | 100% |
| Q2 2025 | +3.3% | +10.5% | -7.1% | 100% |
| Q1 2025 | -0.4% | -4.6% | +4.2% | 100% |
| Q4 2024 | -2.2% | +2.1% | -4.3% | 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 | $353.9M | 186 | 7 | 56 | 49 | 7 | 31.1% | 13 |
| Q2 2026 | $353.6M | 186 | 21 | 66 | 50 | 9 | 29.9% | 6 |
| Q1 2026 | $326.1M | 174 | 5 | 71 | 43 | 11 | 29.4% | 2 |
| Q4 2025 | $326.9M | 180 | 6 | 66 | 45 | 6 | 29.4% | 9 |
| Q3 2025 | $323.9M | 180 | 9 | 73 | 52 | 12 | 28.5% | 14 |
| Q2 2025 | $306.8M | 183 | 18 | 71 | 59 | 3 | 27.7% | 7 |
| Q1 2025 | $280.8M | 168 | 18 | 99 | 35 | 6 | 28.4% | 8 |
| Q4 2024 | $265.7M | 156 | 9 | 70 | 40 | 8 | 29.9% | 15 |
| Q3 2024 | $267.3M | 155 | 8 | 30 | 57 | 2 | 29.7% | 8 |
| Q2 2024 | $243.9M | 149 | 4 | 63 | 21 | 3 | 30.1% | 9 |
| Q1 2024 | $245.1M | 148 | 11 | 73 | 33 | 2 | 28.7% | 5 |
| Q4 2023 | $228.1M | 139 | 7 | 11 | 104 | 10 | 30.0% | 8 |
| Q3 2023 | $219.3M | 142 | 5 | 28 | 60 | 8 | 29.8% | 17 |
| Q2 2023 | $232.5M | 145 | 7 | 5 | 101 | 7 | 31.0% | 7 |
| Q1 2023 | $230.7M | 145 | 6 | 16 | 101 | 8 | 29.9% | 5 |
| Q4 2022 | $238.4M | 147 | 9 | 32 | 35 | 6 | 28.1% | 3 |
| Q3 2022 | $214.7M | 144 | 2 | 56 | 21 | 4 | 29.2% | 3 |
| Q2 2022 | $228.2M | 146 | 6 | 52 | 29 | 11 | 28.5% | 6 |
| Q1 2022 | $258.5M | 151 | 6 | 36 | 60 | 2 | 29.5% | 5 |
| Q4 2021 | $274.3M | 147 | 13 | 62 | 18 | 2 | 31.0% | 7 |
| Q3 2021 | $244.9M | 136 | 8 | 27 | 83 | 2 | 31.4% | 7 |
| Q2 2021 | $245.0M | 130 | 8 | 18 | 34 | 3 | 31.2% | 6 |
| Q1 2021 | $232.1M | 125 | 5 | 61 | 34 | 5 | 31.1% | 7 |
| Q4 2020 | $219.8M | 125 | 9 | 7 | 94 | 3 | 31.3% | 25 |
| Q3 2020 | $198.6M | 119 | 6 | 47 | 17 | 5 | 32.4% | 15 |
| Q2 2020 | $187.6M | 118 | 32 | 51 | 27 | 10 | 31.2% | 17 |
| Q1 2020 | $152.5M | 96 | 2 | 38 | 54 | 7 | 31.5% | 20 |
| Q4 2019 | $202.3M | 101 | 2 | 43 | 49 | 1 | 28.8% | 17 |
| Q3 2019 | $189.4M | 100 | 1 | 20 | 59 | 3 | 28.0% | 25 |
| Q2 2019 | $194.0M | 102 | 2 | 38 | 53 | 85 | 28.2% | 31 |
| Q1 2019 | $190.1M | 185 | 19 | 91 | 5 | 3 | 27.9% | 9 |
| Q4 2018 | $172.0M | 169 | 0 | 0 | 0 | 0 | 27.0% | 22 |
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.