DaveManuel.com · Institutional Ownership · 13F Holdings

Arete Wealth Advisors, LLC

Reported holdings as of Q2 2026, from 31 quarterly filings.

CIK

1600151

Reported value

$1.5B

Positions

334

Top 10 weight

27.0%

Filed

2026-08-13

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
APPLE INC	AAPL	$53.6M	185,325	3.54%	+0.66pp	9q	+22.3%+$9.8M
INVESCO EXCHANGE TRADED FD T	RSP	$50.3M	236,578	3.33%	+0.41pp	31q	+16.6%+$7.2M
BLACKROCK ETF TRUST II	BINC	$46.9M	896,622	3.10%	-0.33pp	10q	+1.8%+$822.3K
DISNEY WALT CO	DIS	$44.2M	458,881	2.92%	-0.39pp	31q	HELD
NVIDIA CORPORATION	NVDA	$40.8M	203,959	2.70%	+0.14pp	8q	+4.3%+$1.7M
FIDELITY MERRIMACK STR TR	FBND	$37.9M	832,624	2.50%	-0.19pp	10q	+5.7%+$2.1M
PUTNAM ETF TRUST	PVAL	$34.4M	676,109	2.28%	-0.16pp	10q	-3.6%-$1.3M
SPDR SERIES TRUST	SPAB	$34.4M	1,347,217	2.27%	-0.32pp	31q	HELD
SPDR SERIES TRUST	SPYM	$34.4M	391,035	2.27%	+0.26pp	14q	+11.3%+$3.5M
VANGUARD INDEX FDS	VUG	$31.2M	361,436	2.06%	+0.16pp	31q	+3.5%+$1.1M
ISHARES TR	EFV	$23.4M	305,937	1.55%	-0.21pp	16q	-3.1%-$758.4K
AMAZON COM INC	AMZN	$22.3M	93,627	1.48%	+0.12pp	8q	+8.1%+$1.7M
MICROSOFT CORP	MSFT	$20.9M	56,135	1.38%	+0.05pp	8q	+17.2%+$3.1M
ALPHABET INC	GOOGL	$20.6M	57,726	1.36%	+0.34pp	8q	+21.9%+$3.7M
SPDR SERIES TRUST	BIL	$18.5M	202,013	1.22%	+0.32pp	14q	+53.4%+$6.4M
JOHNSON & JOHNSON	JNJ	$18.0M	70,887	1.19%	-0.28pp	31q	-11.7%-$2.4M
PGIM ETF TR	PULS	$17.9M	361,480	1.18%	-0.22pp	11q	-4.3%-$809.0K
INVESCO QQQ TR	QQQ	$16.3M	22,166	1.08%	+0.35pp	2q	+31.4%+$3.9M
SPDR SERIES TRUST	SPTM	$15.6M	171,960	1.03%	+0.02pp	11q	HELD
ISHARES TR	IWD	$14.9M	61,285	0.98%	+0.22pp	31q	+29.1%+$3.4M
BROADCOM INC	AVGO	$14.7M	39,024	0.97%	+0.14pp	9q	+8.6%+$1.2M
RACKSPACE TECHNOLOGY INC	RXT	$14.2M	2,173,359	0.94%	+0.92pp	2q	+870.2%+$12.7M
SPDR GOLD TR	GLD	$14.0M	38,126	0.93%	-0.76pp	31q	-27.3%-$5.3M
STATE STR SPDR S&P 500 ETF T	SPY	$13.4M	17,951	0.89%	-0.54pp	31q	-38.6%-$8.4M
ISHARES TR	IWF	$13.2M	106,547	0.87%	+0.02pp	31q	HELD
ALPHABET INC	GOOG	$12.6M	35,705	0.83%	+0.29pp	11q	+41.2%+$3.7M
VANGUARD INDEX FDS	VOO	$11.7M	17,102	0.78%	+0.01pp	31q	HELD
TAIWAN SEMICONDUCTOR MANUFAC	TSM	$11.6M	24,238	0.77%	+0.43pp	9q	+81.4%+$5.2M
EA SERIES TRUST	BOXX	$11.5M	98,406	0.76%	-0.30pp	9q	-19.0%-$2.7M
VANGUARD TAX-MANAGED FDS	VEA	$11.2M	157,066	0.74%	-0.01pp	31q	+0.5%+$55.9K
JPMORGAN CHASE & CO	JPM	$11.1M	34,011	0.74%	+0.06pp	8q	+10.1%+$1.0M
APPLIED MATLS INC	AMAT	$10.7M	14,831	0.71%	-	new	NEW
TESLA INC	TSLA	$10.6M	25,318	0.70%	+0.05pp	8q	+7.3%+$722.6K
EXXON MOBIL CORP	XOM	$10.5M	77,013	0.70%	-0.27pp	31q	+1.4%+$148.1K
ISHARES TR	IVV	$10.4M	13,835	0.69%	+0.06pp	23q	+8.9%+$843.6K
VANGUARD INDEX FDS	VXF	$10.3M	41,724	0.68%	+0.03pp	22q	-1.0%-$108.1K
RTX CORPORATION	RTX	$10.0M	52,926	0.66%	-0.08pp	9q	+3.5%+$339.2K
META PLATFORMS INC	META	$10.0M	17,687	0.66%	-0.03pp	8q	+10.0%+$906.9K
ISHARES TR	IWM	$9.9M	33,099	0.66%	+0.10pp	8q	+11.0%+$983.4K
SPDR INDEX SHS FDS	SPDW	$9.8M	193,973	0.65%	-0.02pp	14q	HELD
INVESCO EXCH TRADED FD TR II	QQQM	$9.6M	31,588	0.63%	+0.24pp	9q	+43.2%+$2.9M
iShares Tr	SHV	$9.5M	85,670	0.62%	-0.12pp	11q	-5.4%-$537.4K
MCDONALDS CORP	MCD	$8.9M	32,986	0.59%	-0.18pp	31q	HELD
BERKSHIRE HATHAWAY INC DEL	BRKB	$8.9M	17,746	0.59%	+0.13pp	31q	+40.7%+$2.6M
INTERNATIONAL BUSINESS MACHS	IBM	$8.8M	31,320	0.58%	+0.02pp	11q	+0.5%+$46.7K
PROFESIONALLY MANAGED PORTFO	AKRE	$8.8M	164,821	0.58%	-0.07pp	3q	+0.8%+$68.9K
SPDR SERIES TRUST	SPYG	$8.5M	71,073	0.56%	+0.03pp	31q	-0.6%-$47.4K
VANECK ETF TRUST	FLTR	$8.3M	325,376	0.55%	-0.07pp	22q	HELD
VIRTUS DIVIDEND INTEREST & P	NFJ	$8.0M	528,076	0.53%	+0.02pp	3q	-1.1%-$88.6K
ABBVIE INC	ABBV	$8.0M	31,600	0.53%	+0.02pp	8q	+2.6%+$202.1K
AMERICAN CENTY ETF TR	AVEM	$7.9M	81,833	0.52%	+0.22pp	2q	+64.4%+$3.1M
WALMART INC	WMT	$7.8M	68,895	0.52%	-0.15pp	31q	-3.4%-$274.3K
ZACKS TRUST	ZECP	$7.8M	251,786	0.51%	+0.11pp	11q	+57.9%+$2.9M
VISA INC	V	$7.7M	22,417	0.51%	-0.01pp	8q	-2.8%-$217.5K
ISHARES TR	EFG	$7.5M	60,581	0.50%	-0.01pp	25q	-0.5%-$40.6K
SPDR SERIES TRUST	SPSM	$7.4M	128,638	0.49%	+0.38pp	11q	+321.5%+$5.7M
EXCHANGE LISTED FDS TR	CEFS	$7.3M	286,252	0.49%	+0.01pp	3q	+2.3%+$162.0K
SPDR SERIES TRUST	SPMD	$7.2M	105,895	0.47%	+0.34pp	9q	+264.5%+$5.2M
VANGUARD INDEX FDS	VTI	$6.7M	18,199	0.45%	-0.01pp	31q	-3.2%-$225.7K
LAM RESEARCH CORP	LRCX	$6.6M	15,267	0.44%	+0.23pp	7q	+15.9%+$907.0K
VANGUARD SPECIALIZED FUNDS	VIG	$6.6M	27,948	0.44%	-0.01pp	31q	HELD
SELECT SECTOR SPDR TR	XLP	$6.2M	74,072	0.41%	-	new	NEW
SELECT SECTOR SPDR TR	XLK	$6.1M	32,288	0.41%	+0.11pp	8q	+7.3%+$419.4K
HOME DEPOT INC	HD	$6.1M	17,182	0.40%	-0.06pp	8q	-8.6%-$572.1K
BANK OF AMER CORP	BAC	$6.0M	105,695	0.40%	+0.20pp	8q	+95.3%+$2.9M
FIDELITY MERRIMACK STR TR	FLDR	$6.0M	119,876	0.40%	-0.05pp	29q	-0.5%-$31.5K
ISHARES TR	AGG	$5.9M	59,457	0.39%	-0.07pp	31q	-3.2%-$196.0K
TORTOISE ENERGY INFRSTRCTR C	TYG	$5.9M	137,223	0.39%	-0.12pp	24q	HELD
ADVANCED MICRO DEVICES INC	AMD	$5.9M	10,124	0.39%	-	new	NEW
VANGUARD INDEX FDS	VTV	$5.6M	25,650	0.37%	flat	31q	+1.2%+$68.4K
VANGUARD INTL EQUITY INDEX F	VWO	$5.5M	91,637	0.36%	-0.11pp	31q	-21.8%-$1.5M
ISHARES INC	IEMG	$5.4M	65,184	0.36%	flat	30q	-4.8%-$272.5K
INVESCO EXCHANGE TRADED FD T	XMMO	$5.2M	30,636	0.34%	-	new	NEW
RIVERNORTH OPPORTUNITIES FD	RIV	$5.1M	440,153	0.34%	-0.03pp	3q	+0.7%+$33.7K
ZACKS TRUST	SMIZ	$5.1M	113,896	0.34%	+0.01pp	11q	-2.2%-$111.9K
BRIGHTSPRING HEALTH SVCS INC	BTSG	$5.1M	72,482	0.33%	+0.15pp	2q	+24.9%+$1.0M
DIREXION SHARES ETF TRUST	HCMT	$5.0M	119,649	0.33%	-0.02pp	9q	-9.8%-$542.3K
ZACKS TRUST	GROZ	$5.0M	157,722	0.33%	+0.06pp	5q	+20.9%+$864.9K
ISHARES TR	SHY	$5.0M	60,779	0.33%	-0.04pp	9q	+2.3%+$114.1K
SPDR SERIES TRUST	SPYV	$4.9M	81,138	0.33%	-0.02pp	31q	-1.5%-$74.9K
MERCK & CO INC	MRK	$4.8M	37,010	0.31%	-0.15pp	31q	-28.0%-$1.8M
ISHARES TR	DGRO	$4.7M	61,846	0.31%	-0.02pp	31q	-0.9%-$44.0K
APPLIED DIGITAL CORP	APLD	$4.7M	125,486	0.31%	flat	7q	-28.0%-$1.8M
INVESCO EXCHANGE TRADED FD T	PSI	$4.7M	24,913	0.31%	-	new	NEW
ISHARES TR	SGOV	$4.6M	45,878	0.31%	+0.09pp	11q	+63.5%+$1.8M
INTEL CORP	INTC	$4.6M	32,683	0.30%	+0.25pp	6q	+112.1%+$2.4M
ISHARES SILVER TR	SLV	$4.5M	84,277	0.30%	-0.16pp	11q	-6.1%-$295.0K
ETFS GOLD TR	SGOL	$4.5M	116,948	0.30%	-0.06pp	11q	+11.3%+$453.7K
PRINCIPALEXCHANGE TRADED FD	PSC	$4.4M	62,934	0.29%	+0.01pp	8q	-3.3%-$151.4K
CISCO SYS INC	CSCO	$4.4M	37,515	0.29%	+0.09pp	31q	+7.6%+$309.7K
ADVENT CONV & INCOME FD	AVK	$4.2M	319,601	0.28%	+0.01pp	31q	+0.6%+$25.1K
SPACE EXPLORATION TECHN CORP	SPCX	$4.2M	24,345	0.27%	-	new	NEW
ISHARES TR	IYW	$4.0M	16,036	0.27%	-	new	NEW
TTM TECHNOLOGIES INC	TTMI	$4.0M	21,624	0.27%	-	new	NEW
INVESCO EXCH TRD SLF IDX FD	OMFL	$4.0M	58,902	0.27%	-0.01pp	3q	-5.9%-$254.8K
SPDR INDEX SHS FDS	SPEM	$3.9M	76,035	0.26%	flat	11q	+4.6%+$174.7K
SPDR SERIES TRUST	XBI	$3.8M	24,155	0.25%	-	new	NEW
BLACKROCK ENHANCED INTL DIV	BGY	$3.8M	661,325	0.25%	-0.01pp	31q	+0.5%+$19.2K
COCA COLA CO	KO	$3.8M	46,554	0.25%	flat	11q	+4.4%+$158.3K
ISHARES TR	EFA	$3.6M	35,022	0.24%	+0.01pp	31q	+12.0%+$391.2K
ISHARES TR	IEF	$3.6M	37,594	0.24%	-0.03pp	16q	+1.8%+$63.4K
ISHARES TR	IGM	$3.5M	21,506	0.23%	-	new	NEW
CHEVRON CORPORATION	CVX	$3.5M	20,957	0.23%	-0.08pp	8q	+3.3%+$109.7K
VANGUARD SCOTTSDALE FDS	VONE	$3.4M	10,126	0.23%	-0.06pp	7q	-23.2%-$1.0M
GLOBAL NET LEASE INC	GNL	$3.4M	383,427	0.23%	+0.01pp	31q	+24.0%+$663.9K
ISHARES TR	IUSB	$3.4M	74,112	0.23%	-0.01pp	16q	+10.4%+$322.4K
ISHARES TR	IVW	$3.4M	24,645	0.22%	+0.01pp	17q	-0.7%-$24.5K
J P MORGAN EXCHANGE TRADED F	JCPB	$3.4M	71,921	0.22%	flat	11q	+15.0%+$440.2K
KIRBY CORP	KEX	$3.3M	24,594	0.22%	+0.01pp	2q	+16.7%+$479.2K
ISHARES TR	IJR	$3.3M	22,412	0.22%	flat	31q	-4.7%-$163.3K
CITIGROUP INC	C	$3.3M	23,464	0.22%	+0.02pp	23q	+2.6%+$82.9K
VANGUARD INDEX FDS	VO	$3.3M	40,459	0.22%	-	new	NEW
NEOS ETF TRUST	QQQI	$3.3M	57,227	0.22%	flat	9q	-1.0%-$32.4K
NEOS ETF TRUST	SPYI	$3.2M	60,562	0.21%	-0.02pp	11q	-3.1%-$103.7K
PROCTER & GAMBLE CO	PG	$3.2M	21,918	0.21%	-0.04pp	4q	-7.6%-$264.4K
ZACKS TRUST	QUIZ	$3.2M	108,541	0.21%	+0.04pp	4q	+26.1%+$655.4K
ARISTA NETWORKS INC	ANET	$3.2M	18,558	0.21%	+0.03pp	4q	-1.7%-$53.5K
VANGUARD SCOTTSDALE FDS	VTWO	$3.1M	25,902	0.21%	+0.03pp	11q	+6.4%+$189.8K
PFIZER INC	PFE	$3.1M	129,520	0.21%	-0.05pp	8q	+8.4%+$241.5K
BOEING CO	BA	$3.1M	14,300	0.20%	flat	8q	+5.7%+$167.5K
CARRIER GLOBAL CORPORATION	CARR	$3.1M	41,614	0.20%	+0.02pp	5q	-1.0%-$29.9K
JOHN HANCOCK EXCHANGE TRADED	JHMM	$3.0M	40,512	0.20%	-	new	NEW
VERIZON COMMUNICATIONS INC	VZ	$3.0M	71,498	0.20%	-0.02pp	31q	+24.5%+$596.1K
PALANTIR TECHNOLOGIES INC	PLTR	$3.0M	25,866	0.20%	-0.07pp	23q	+6.3%+$179.6K
T ROWE PRICE EXCHANGE-TRADED	TCHP	$3.0M	59,854	0.20%	+0.01pp	2q	+3.4%+$97.6K
ISHARES TR	IEI	$3.0M	25,282	0.20%	-0.01pp	9q	+11.1%+$297.3K
FIRST TR EXCHANGE-TRADED FD	FTSM	$2.9M	49,154	0.19%	-0.03pp	11q	-1.5%-$45.1K
WELLS FARGO & CO	WFC	$2.9M	35,504	0.19%	-0.01pp	31q	+3.9%+$111.2K
ISHARES TR	IAI	$2.8M	16,248	0.19%	-	new	NEW
TCW ETF TRUST	PWRD	$2.8M	22,952	0.19%	+0.02pp	2q	HELD
ISHARES TR	IEFA	$2.8M	29,185	0.19%	-0.01pp	31q	HELD
PIMCO ETF TR	MINT	$2.8M	27,952	0.19%	-0.03pp	13q	-2.2%-$64.4K
ISHARES TR	SHYG	$2.8M	66,095	0.19%	+0.01pp	11q	+23.0%+$524.4K
VANECK ETF TRUST	CLOI	$2.7M	51,534	0.18%	-0.02pp	9q	+1.3%+$34.7K
VANGUARD INDEX FDS	VNQ	$2.7M	28,080	0.18%	flat	16q	+1.9%+$51.6K
ISHARES TR	IDU	$2.7M	23,579	0.18%	-0.34pp	3q	-60.8%-$4.2M
SPDR INDEX SHS FDS	GWX	$2.7M	61,677	0.18%	-0.02pp	11q	-1.1%-$29.8K
EA SERIES TRUST	FRDM	$2.7M	36,907	0.18%	+0.03pp	11q	HELD
KINDER MORGAN INC DEL	KMI	$2.7M	82,955	0.18%	-0.02pp	31q	+4.1%+$104.5K
HEXCEL CORP NEW	HXL	$2.6M	26,444	0.17%	-	new	NEW
SELECT SECTOR SPDR TR	XLV	$2.6M	16,576	0.17%	+0.04pp	9q	+39.2%+$740.8K
SPDR SERIES TRUST	SPSB	$2.6M	86,410	0.17%	-0.01pp	29q	+6.0%+$146.5K
VANGUARD WHITEHALL FDS	VYM	$2.5M	15,685	0.16%	+0.02pp	31q	+22.7%+$459.1K
BLUEROCK PVT REAL ESTATE FD	BPRE	$2.5M	189,903	0.16%	-0.08pp	3q	-2.2%-$55.3K
FIRST TR EXCHANGE-TRADED FD	FDL	$2.5M	50,580	0.16%	-0.04pp	11q	-6.4%-$168.6K
PEPSICO INC	PEP	$2.5M	18,163	0.16%	-0.04pp	31q	+6.5%+$150.2K
SELECT SECTOR SPDR TR	XLU	$2.4M	53,405	0.16%	-0.22pp	31q	-52.1%-$2.6M
VANECK ETF TRUST	GDX	$2.4M	31,651	0.16%	-0.06pp	16q	HELD
INNOVATOR ETFS TRUST	UJUL	$2.4M	58,450	0.16%	-0.01pp	11q	HELD
PHILIP MORRIS INTL INC	PM	$2.4M	13,102	0.16%	flat	31q	+5.0%+$111.8K
WISDOMTREE TR	DXJ	$2.3M	13,337	0.15%	-	new	NEW
US BANCORP	USB	$2.3M	37,319	0.15%	+0.03pp	24q	+20.6%+$384.4K
JH DSCP VAL INTL SEL ETF	JDVI	$2.2M	58,218	0.15%	flat	2q	+2.8%+$61.4K
ETF SER SOLUTIONS	QTUM	$2.2M	13,486	0.15%	-	new	NEW
NVENT ELEC PLC	NVT	$2.2M	13,031	0.15%	-	new	NEW
FS KKR CAP CORP	FSK	$2.2M	208,580	0.14%	-0.02pp	25q	-1.0%-$21.7K
NETFLIX INC.	NFLX	$2.2M	30,114	0.14%	-0.07pp	4q	+3.6%+$75.0K
TIDAL TRUST I	HFND	$2.1M	86,284	0.14%	+0.10pp	4q	+279.2%+$1.6M
NOKIA CORP	NOK	$2.1M	154,638	0.14%	-0.02pp	2q	-41.0%-$1.4M
FIRST TR EXCHANGE-TRADED FD	FTSL	$2.0M	45,067	0.13%	-0.02pp	11q	+1.0%+$20.0K
OSCAR HEALTH INC	OSCR	$2.0M	70,621	0.13%	-	new	NEW
RUSH STREET INTERACTIVE INC	RSI	$2.0M	67,158	0.13%	-	new	NEW
AMERICAN CENTY ETF TR	AVDV	$2.0M	19,299	0.13%	-0.02pp	5q	-2.4%-$49.5K
CONOCOPHILLIPS	COP	$2.0M	19,007	0.13%	-0.04pp	31q	+7.4%+$135.7K
ROUNDHILL ETF TRUST	DRAM	$1.9M	25,590	0.12%	-	new	NEW
ISHARES TR	IJH	$1.9M	24,450	0.12%	flat	31q	-1.3%-$25.7K
J P MORGAN EXCHANGE TRADED F	JMEE	$1.9M	23,912	0.12%	+0.01pp	2q	+3.7%+$66.0K
FIFTH THIRD BANCORP	FITB	$1.8M	32,387	0.12%	+0.01pp	6q	+3.0%+$53.7K
SPDR SERIES TRUST	SPLB	$1.8M	80,207	0.12%	-0.01pp	3q	+5.7%+$97.1K
ISHARES TR	GOVT	$1.8M	78,677	0.12%	-0.01pp	22q	+3.0%+$51.7K
STONEX GROUP INC	SNEX	$1.8M	15,094	0.12%	-	new	NEW
EA SERIES TRUST	BBLU	$1.8M	107,637	0.12%	flat	4q	+5.4%+$91.0K
SOUTHERN CO	SO	$1.7M	18,163	0.11%	-0.01pp	22q	+3.1%+$52.0K
FIRST TR EXCH TRADED FD III	FPE	$1.7M	94,693	0.11%	-	new	NEW
ALTRIA GROUP INC	MO	$1.7M	23,479	0.11%	flat	8q	+4.8%+$77.5K
PRUDENTIAL FINL INC	PRU	$1.7M	15,460	0.11%	flat	22q	+6.9%+$107.8K
BLACKSTONE INC	BX	$1.7M	14,076	0.11%	-0.01pp	2q	+0.6%+$10.2K
ISHARES TR	TIP	$1.6M	14,961	0.11%	flat	20q	+9.5%+$142.4K
TIDAL TRUST I	GRNY	$1.6M	58,269	0.11%	+0.01pp	4q	+3.4%+$52.9K
SPDR SERIES TRUST	CWB	$1.6M	14,825	0.11%	-	new	NEW
VANGUARD WORLD FD	VGT	$1.6M	13,292	0.11%	-	new	NEW
TJX COS INC NEW	TJX	$1.5M	10,179	0.10%	-	new	NEW
AT&T INC	T	$1.5M	74,149	0.10%	-0.04pp	31q	+14.1%+$189.9K
OTIS WORLDWIDE CORP	OTIS	$1.5M	21,110	0.10%	-0.02pp	5q	HELD
PIMCO ETF TR	PYLD	$1.5M	56,845	0.10%	-0.07pp	6q	-35.8%-$841.1K
FIDELITY WISE ORIGIN BITCOIN	FBTC	$1.5M	29,323	0.10%	-0.01pp	8q	+21.2%+$261.9K
ONEOK, Inc.	OKE	$1.5M	17,056	0.10%	-0.27pp	13q	-68.8%-$3.3M
ABBOTT LABORATORIES	ABT	$1.5M	16,273	0.10%	-0.03pp	11q	+1.3%+$19.3K
APOLLO GLOBAL MGMT INC	APO	$1.5M	12,416	0.10%	-0.01pp	16q	+1.5%+$21.7K
METLIFE INC	MET	$1.5M	17,352	0.10%	+0.01pp	23q	+1.3%+$19.0K
ISHARES TR	MBB	$1.5M	15,446	0.10%	-0.01pp	22q	+4.6%+$64.7K
UNITED PARCEL SVCS INC	UPS	$1.5M	13,509	0.10%	-0.03pp	29q	-20.5%-$375.1K
BANK OF NY MELLON CORP	BNY	$1.4M	10,024	0.10%	+0.01pp	2q	HELD
KIMBERLY CLARK CORP	KMB	$1.4M	13,163	0.10%	flat	9q	HELD
SPDR SERIES TRUST	SPTL	$1.4M	54,814	0.10%	flat	27q	+17.3%+$211.8K
BLACKROCK ETF TRUST	DYNF	$1.4M	20,655	0.09%	flat	10q	-1.4%-$20.5K
ISHARES TR	TLT	$1.4M	16,062	0.09%	-0.08pp	31q	-40.0%-$925.9K
SERVICENOW INC	NOW	$1.4M	13,815	0.09%	-	new	NEW
RBB FUND TRUST	COPY	$1.4M	92,620	0.09%	+0.05pp	3q	+150.9%+$820.5K
DELTA AIR LINES INC	DAL	$1.4M	14,492	0.09%	+0.01pp	2q	-3.8%-$53.0K
ISHARES TR	IXUS	$1.3M	14,129	0.09%	-0.01pp	9q	-3.2%-$44.2K
ENERGY TRANSFER L P	ET	$1.3M	70,409	0.09%	-0.02pp	11q	-6.1%-$87.9K
TIDAL TRUST I	HFGM	$1.3M	43,811	0.09%	+0.05pp	2q	+208.3%+$904.0K
SPDR SERIES TRUST	SPHY	$1.3M	55,708	0.09%	-0.01pp	10q	+2.1%+$27.0K
USA RARE EARTH INC	USAR	$1.3M	60,100	0.09%	-	new	NEW
WP CAREY INC	WPC	$1.3M	18,025	0.09%	flat	25q	+2.9%+$35.8K
SELECT SECTOR SPDR TR	XLY	$1.3M	10,971	0.09%	flat	8q	+2.1%+$26.2K
VANGUARD SCOTTSDALE FDS	VCSH	$1.3M	16,198	0.08%	-0.02pp	31q	-3.9%-$51.8K
PROSHARES TR	SH	$1.3M	38,706	0.08%	-0.73pp	3q	-86.5%-$8.2M
WILLIAMS COS INC	WMB	$1.3M	17,092	0.08%	-0.03pp	19q	-19.0%-$298.7K
ISHARES TR	IQLT	$1.2M	24,948	0.08%	-0.01pp	6q	-4.7%-$60.5K
VANGUARD BD INDEX FDS	BND	$1.2M	16,351	0.08%	-0.01pp	11q	+1.5%+$17.2K
T ROWE PRICE EXCHANGE-TRADED	TSPA	$1.2M	24,966	0.08%	-	new	NEW
VANGUARD SCOTTSDALE FDS	VGSH	$1.2M	20,326	0.08%	-0.02pp	11q	-7.4%-$94.1K
MEDTRONIC PLC	MDT	$1.1M	14,609	0.08%	-0.09pp	31q	-41.7%-$816.6K
FIRST TR EXCHNG TRADED FD VI	GFEB	$1.1M	25,850	0.08%	flat	11q	HELD
ETF OPPORTUNITIES TRUST	TSPY	$1.1M	44,245	0.07%	+0.01pp	4q	+14.4%+$141.4K
INNOVATOR ETFS TRUST	USEP	$1.1M	26,793	0.07%	-0.02pp	20q	-17.5%-$234.7K
ISHARES BITCOIN TRUST ETF	IBIT	$1.1M	33,135	0.07%	-0.05pp	10q	-21.8%-$307.4K
MAIN STR CAP CORP	MAIN	$1.1M	21,204	0.07%	-0.01pp	16q	-2.1%-$23.9K
CSX CORP	CSX	$1.1M	22,583	0.07%	flat	13q	-7.7%-$89.6K
SELECT SECTOR SPDR TR	XLE	$1.0M	19,590	0.07%	-0.03pp	11q	-8.8%-$100.4K
INNOVATOR ETFS TRUST	UDEC	$1.0M	24,661	0.07%	-0.05pp	11q	-39.1%-$659.6K
PAYPAL HLDGS INC	PYPL	$1.0M	23,747	0.07%	-0.02pp	2q	-4.3%-$45.6K
IMMUNITYBIO INC	IBRX	$1.0M	114,920	0.07%	-0.27pp	2q	-80.4%-$4.1M
ADVISORS INNER CIRCLE FD II	FCBD	$993.5K	39,269	0.07%	-0.01pp	7q	-5.1%-$53.4K
VANGUARD BD INDEX FDS	BSV	$990.8K	12,717	0.07%	-0.01pp	16q	+2.2%+$21.7K
INNOVATOR ETFS TRUST	UMAR	$957.6K	22,686	0.06%	+0.01pp	11q	+19.2%+$154.3K
CIPHER DIGITAL INC	CIFR	$953.5K	38,920	0.06%	-	new	NEW
VANECK ETF TRUST	RAAX	$945.4K	23,832	0.06%	-0.01pp	2q	+4.3%+$39.1K
GE HEALTHCARE TECHNOLOGIES I	GEHC	$941.8K	14,713	0.06%	-	new	NEW
SCHWAB STRATEGIC TR	SCHD	$934.6K	29,474	0.06%	flat	20q	+6.9%+$60.2K
ADVISORS INNER CIRCLE FD II	FLCE	$922.4K	29,573	0.06%	flat	7q	+5.0%+$44.0K
ZEVRA THERAPEUTICS INC	ZVRA	$920.7K	64,205	0.06%	+0.01pp	22q	-3.3%-$31.4K
VANECK ETF TRUST	ESPO	$910.9K	10,149	0.06%	-	new	NEW
ISHARES TR	HYG	$909.1K	11,368	0.06%	-0.01pp	4q	+2.2%+$20.0K
VANGUARD CHARLOTTE FDS	BNDX	$892.7K	18,432	0.06%	-0.01pp	16q	+0.6%+$5.6K
PUBLIC SVC ENTERPRISE GROUP	PEG	$880.2K	10,844	0.06%	-	new	NEW
ISHARES GOLD TR	IAU	$871.1K	11,536	0.06%	-0.16pp	19q	-65.2%-$1.6M
STRATTEC SEC CORP	STRT	$863.2K	10,598	0.06%	-0.01pp	2q	HELD
MORGAN STANLEY ETF TRUST	EVSM	$859.8K	17,091	0.06%	flat	5q	+4.9%+$39.9K
ISHARES TR	CMBS	$854.3K	17,561	0.06%	flat	4q	+8.0%+$63.3K
SPDR SERIES TRUST	SPIB	$843.0K	25,194	0.06%	-0.01pp	16q	+0.8%+$6.5K
BLOCK INC	XYZ	$840.2K	11,055	0.06%	+0.01pp	2q	+5.1%+$40.6K
GOLDMAN SACHS PHYSICAL GOLD	AAAU	$820.8K	20,743	0.05%	-0.02pp	8q	-8.0%-$71.5K
SELECT SECTOR SPDR TR	XLF	$816.8K	15,235	0.05%	flat	8q	+1.0%+$8.5K
VANGUARD SCOTTSDALE FDS	VMBS	$807.9K	17,259	0.05%	-0.01pp	11q	-1.3%-$11.0K
J P MORGAN EXCHANGE TRADED F	JEPI	$798.3K	14,133	0.05%	-0.01pp	23q	+3.7%+$28.4K
SELECT SECTOR SPDR TR	XLB	$794.9K	15,639	0.05%	-	new	NEW
ISHARES TR	USIG	$774.7K	15,104	0.05%	-0.01pp	13q	-1.2%-$9.3K
AMPLIFY ETF TR	DIVO	$768.9K	16,824	0.05%	-0.01pp	10q	-12.1%-$106.0K
SCHWAB STRATEGIC TR	FNDX	$767.6K	24,680	0.05%	flat	22q	+3.4%+$25.5K
ENTERPRISE PRODS PARTNERS L	EPD	$736.6K	20,039	0.05%	-0.01pp	15q	+1.3%+$9.4K
SCHWAB STRATEGIC TR	SCHP	$735.2K	27,744	0.05%	-0.01pp	6q	-1.9%-$14.4K
BANCORP INC DEL	TBBK	$725.2K	11,578	0.05%	flat	9q	+5.4%+$37.2K
JANUS DETROIT STR TR	JAAA	$722.4K	14,308	0.05%	+0.01pp	12q	+32.1%+$175.4K
AGF INVTS TR	BTAL	$722.2K	64,770	0.05%	-0.01pp	4q	+25.1%+$145.0K
GRAYSCALE BITCOIN MINI TR ET	BTC	$721.9K	27,819	0.05%	+0.02pp	4q	+160.5%+$444.8K
MPLX LP	MPLX	$700.7K	12,439	0.05%	-0.01pp	9q	-1.7%-$12.4K
SPDR SERIES TRUST	SJNK	$684.9K	27,362	0.05%	-0.01pp	11q	-3.1%-$22.2K
FREEPORT-MCMORAN INC	FCX	$666.4K	10,596	0.04%	-	new	NEW
DORIAN LPG LTD	LPG	$665.0K	19,120	0.04%	-0.01pp	2q	-4.3%-$29.6K
COMCAST CORP NEW	CMCSA	$658.4K	26,817	0.04%	-0.01pp	31q	+12.1%+$71.2K
ELEVATION SERIES TRUST	SOVF	$650.7K	21,924	0.04%	flat	9q	HELD
BALL CORP	BALL	$645.3K	10,341	0.04%	-	new	NEW
CARLYLE GROUP INC	CG	$642.4K	15,254	0.04%	-0.01pp	16q	+2.2%+$14.1K
RBB FUND TRUST	ICPY	$641.7K	52,600	0.04%	-	new	NEW
TOOTSIE ROLL INDS INC	TR	$630.1K	15,932	0.04%	flat	3q	+12.3%+$69.2K
FS SPECIALTY LENDING FD	FSSL	$623.3K	55,899	0.04%	-0.02pp	3q	-12.4%-$87.9K
ADVISORS INNER CIRCLE FD II	FINT	$611.1K	17,013	0.04%	+0.01pp	7q	+19.7%+$100.5K
SPDR SERIES TRUST	SPYD	$610.9K	12,805	0.04%	flat	11q	HELD
HEALTHPEAK PROPERTIES INC	DOC	$608.2K	28,418	0.04%	flat	14q	-2.2%-$13.5K
SCHWAB STRATEGIC TR	SCHE	$606.8K	16,735	0.04%	flat	11q	-3.6%-$22.6K
HORMEL FOODS CORP	HRL	$605.1K	24,381	0.04%	flat	3q	+17.7%+$91.2K
ISHARES TR	ISTB	$601.6K	12,468	0.04%	flat	6q	+3.0%+$17.5K
SSGA ACTIVE ETF TR	SRLN	$570.7K	14,166	0.04%	flat	22q	+5.5%+$29.5K
AMERICAN HEALTHCARE REIT INC	AHR	$570.6K	10,941	0.04%	-0.01pp	8q	-24.2%-$181.8K
FIRST TR EXCHNG TRADED FD VI	GMAY	$559.5K	13,000	0.04%	flat	5q	HELD
VANECK ETF TRUST	ANGL	$557.0K	19,049	0.04%	flat	9q	HELD
ALPS ETF TR	AMLP	$547.7K	10,562	0.04%	-0.01pp	2q	-8.6%-$51.3K
SCHWAB STRATEGIC TR	SCHO	$543.5K	22,512	0.04%	-	new	NEW
INNOVATOR ETFS TRUST	UNOV	$542.6K	13,518	0.04%	flat	11q	-4.3%-$24.2K
T ROWE PRICE EXCHANGE-TRADED	TDVG	$537.9K	10,971	0.04%	flat	11q	-4.6%-$26.0K
FIRST TR HIGH YIELD OPPRT 20	FTHY	$528.6K	38,581	0.03%	-0.01pp	25q	-14.0%-$86.1K
INVESCO ACTIVELY MANAGED EXC	VRIG	$506.8K	20,215	0.03%	flat	11q	+13.2%+$59.2K
HARTFORD FDS EXCHANGE TRADED	HTAB	$506.7K	26,418	0.03%	flat	9q	+31.1%+$120.2K
KINROSS GOLD CORP	KGC	$493.8K	20,906	0.03%	-0.16pp	6q	-74.9%-$1.5M
ISHARES TR	HDV	$486.9K	17,762	0.03%	-	new	NEW
INVESCO EXCH TRD SLF IDX FD	BSCR	$485.1K	24,725	0.03%	-0.01pp	10q	-8.8%-$46.8K
INVESCO EXCH TRD SLF IDX FD	BSCQ	$484.3K	24,808	0.03%	-0.01pp	10q	-8.8%-$46.8K
ADVISORS INNER CIRCLE FD II	FOPC	$478.6K	18,855	0.03%	-0.01pp	7q	-6.0%-$30.7K
RIOT PLATFORMS INC	RIOT	$475.5K	17,366	0.03%	-	new	NEW
ADAMAS TRUST INC.	ADAM	$473.7K	50,500	0.03%	-	new	NEW
LEGG MASON ETF INVT	LVHI	$460.1K	11,337	0.03%	-0.01pp	8q	-8.3%-$41.9K
INVESCO EXCH TRD SLF IDX FD	BSCS	$459.1K	22,551	0.03%	-0.01pp	10q	-5.1%-$24.6K
ISHARES TR	PFF	$456.2K	14,961	0.03%	-0.01pp	31q	-4.4%-$21.0K
BLACKROCK ETF TRUST	IALT	$455.6K	16,244	0.03%	-	new	NEW
ARES CAPITAL CORP	ARCC	$455.1K	24,562	0.03%	-0.02pp	24q	-39.3%-$294.8K
SPDR SERIES TRUST	CERY	$453.0K	13,550	0.03%	flat	2q	+26.9%+$95.9K
FIRST TR EXCHNG TRADED FD VI	JULM	$451.6K	13,050	0.03%	flat	8q	HELD
GIGACLOUD TECHNOLOGY INC	GCT	$444.8K	14,075	0.03%	-0.02pp	4q	-7.1%-$33.8K
FIRST TR EXCHNG TRADED FD VI	BUFR	$439.1K	12,020	0.03%	-0.01pp	10q	-12.1%-$60.6K
PACER FDS TR	PSFF	$423.2K	12,334	0.03%	flat	8q	HELD
BITWISE BITCOIN ETF TR	BITB	$419.3K	13,160	0.03%	-0.03pp	10q	-34.6%-$221.6K
FATE THERAPEUTICS INC	FATE	$405.0K	150,000	0.03%	-	new	NEW
NAVITAS SEMICONDUCTOR CORP	NVTS	$391.6K	21,850	0.03%	-0.08pp	5q	-86.7%-$2.5M
ALLIANCEBERNSTEIN NATL MUN I	AFB	$389.6K	34,146	0.03%	flat	31q	HELD
FIRST TR EXCHNG TRADED FD VI	QCJL	$376.3K	15,015	0.02%	flat	8q	HELD
ETF SER SOLUTIONS	JETS	$374.9K	11,284	0.02%	-	new	NEW
KITE REALTY GROUP TRUST	KRG	$371.6K	13,095	0.02%	flat	19q	HELD
ROADZEN INC	RDZN	$370.3K	253,653	0.02%	flat	2q	HELD
SPDR SERIES TRUST	EMHC	$368.0K	14,466	0.02%	flat	4q	+21.5%+$65.1K
SCHWAB STRATEGIC TR	SCHG	$355.1K	10,494	0.02%	-	new	NEW
GLOBAL X FDS	QYLD	$348.3K	18,898	0.02%	flat	11q	-5.3%-$19.5K
PRINCIPAL EXCHANGE TRADED FD	YLD	$341.8K	17,915	0.02%	-	new	NEW
INVESCO EXCH TRADED FD TR II	PCY	$327.5K	15,127	0.02%	flat	11q	+3.5%+$11.0K
ENTREPRENEURSHARES SERIES TR	XOVR	$321.0K	15,250	0.02%	-	new	NEW
ISHARES TR	FALN	$320.5K	11,766	0.02%	flat	16q	HELD
SSGA ACTIVE TR	FISR	$314.3K	12,253	0.02%	-	new	NEW
URANIUM ENERGY CORP	UEC	$299.7K	28,115	0.02%	-	new	NEW
GRANITESHARES ETF TR	COMB	$298.7K	12,404	0.02%	-	new	NEW
FRANKLIN TEMPLETON ETF TR	INCM	$294.5K	10,207	0.02%	-	new	NEW
MIRION TECHNOLOGIES INC	MIR	$286.7K	15,990	0.02%	-	new	NEW
SSR MINING IN	SSRM	$282.8K	10,000	0.02%	-	new	NEW
INVESCO EXCH TRD SLF IDX FD	BSJR	$263.0K	11,763	0.02%	-0.01pp	10q	-12.9%-$38.9K
INVESCO EXCH TRD SLF IDX FD	BSJQ	$260.3K	11,346	0.02%	-0.01pp	10q	-12.8%-$38.2K
ETFIS SER TR I	PFFA	$253.6K	12,327	0.02%	flat	2q	+20.5%+$43.2K
GRAYSCALE BTC COV CALL ETF	BTCC	$252.0K	20,191	0.02%	flat	2q	+45.3%+$78.5K
ETFIS SER TR I	NFLT	$248.8K	10,842	0.02%	flat	4q	HELD
SPDR SERIES TRUST	TIPX	$222.4K	11,751	0.01%	-	new	NEW
NEUBERGER ENGY INFRSTR & INC	NML	$220.2K	21,712	0.01%	flat	2q	+0.5%+$1.1K
HORIZON BANCORP INC	HBNC	$214.4K	10,729	0.01%	-	new	NEW
LIGHTWAVE LOGIC INC	LWLG	$213.8K	22,600	0.01%	-	new	NEW
BNY MELLON STRATEGIC MUN BD	DSM	$205.5K	33,407	0.01%	flat	14q	-1.9%-$4.1K

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	$96.3M	6.4%
Software & IT Services	$92.4M	6.1%
Computer Hardware	$70.0M	4.6%
Telecom & Media	$53.5M	3.5%
Retail & Consumer	$47.1M	3.1%
Funds & ETFs	$40.6M	2.7%
Banks & Lending	$39.3M	2.6%
Biotech & Pharma	$37.6M	2.5%
Capital Markets	$34.0M	2.2%
Autos & Aerospace	$24.6M	1.6%
Energy	$23.5M	1.6%
Other sectors	$83.1M	5.5%
Not classified	$870.8M	57.6%

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
Q2 2026	+7.2%	+14.8%	-7.7%	100%
Q1 2026	-1.9%	-4.6%	+2.7%	99%
Q4 2025	+1.4%	+2.4%	-1.0%	100%
Q3 2025	+6.4%	+7.8%	-1.5%	100%
Q2 2025	+7.7%	+10.5%	-2.8%	103%
Q1 2025	-2.8%	-4.6%	+1.8%	100%
Q4 2024	+0.9%	+2.1%	-1.3%	101%
Q3 2024	+5.9%	+5.4%	+0.4%	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
Q2 2026	$1.5B	334	55	142	105	42	27.0%	44
Q1 2026	$1.3B	321	47	109	135	86	26.7%	50
Q4 2025	$1.4B	360	35	159	129	438	23.4%	223
Q3 2025	$1.6B	763	109	320	213	65	20.8%	43
Q2 2025	$1.4B	719	106	246	285	101	20.4%	45
Q1 2025	$1.3B	714	76	302	249	105	19.5%	46
Q4 2024	$1.4B	743	103	414	152	64	22.0%	43
Q3 2024	$1.2B	704	114	171	379	135	21.6%	49
Q2 2024	$1.2B	725	374	166	164	25	23.4%	45
Q1 2024	$1.1B	376	37	168	128	402	29.6%	46
Q4 2023	$1.3B	741	273	271	139	38	23.1%	45
Q3 2023	$577.7M	506	95	168	211	253	24.4%	30
Q2 2023	$1.1B	664	122	235	268	113	22.6%	40
Q1 2023	$1.2B	655	100	0	555	78	28.1%	52
Q4 2022	$1.1T	633	150	483	0	95	30.1%	37
Q3 2022	$1.0B	578	179	277	112	53	29.2%	38
Q2 2022	$989.0M	452	82	184	165	136	29.3%	46
Q1 2022	$1.2B	506	61	236	148	57	27.9%	36
Q4 2021	$1.2B	502	125	265	78	34	27.9%	38
Q3 2021	$907.0M	411	80	178	109	44	28.3%	46
Q2 2021	$712.6M	375	41	179	119	82	31.0%	40
Q1 2021	$782.2M	416	56	173	143	42	27.3%	40
Q4 2020	$706.1M	402	78	98	189	57	26.7%	39
Q3 2020	$663.7M	381	53	138	140	41	28.0%	40
Q2 2020	$577.3M	369	76	137	113	48	25.8%	42
Q1 2020	$508.2M	341	41	124	146	91	31.7%	44
Q4 2019	$575.7M	391	36	120	168	49	25.2%	45
Q3 2019	$523.1M	404	57	165	115	41	24.2%	44
Q2 2019	$515.4M	388	45	152	125	42	24.6%	45
Q1 2019	$479.3M	385	56	158	121	36	25.1%	45
Q4 2018	$411.3M	365	0	0	0	0	23.4%	45

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.