DaveManuel.com · Institutional Ownership · 13F Holdings
Cambridge Advisors 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 | VOO | $108.8M | 155,252 | +0.48pp | 32q | HELD | |
| VANGUARD BD INDEX FDS | BND | $57.6M | 821,752 | -0.25pp | 32q | +2.0%+$1.1M | |
| VANGUARD TAX-MANAGED FDS | VEA | $39.5M | 559,745 | -0.02pp | 32q | +0.5%+$202.4K | |
| ISHARES TR | IJH | $22.6M | 313,558 | -0.25pp | 32q | +0.7%+$149.0K | |
| VANGUARD CHARLOTTE FDS | BNDX | $15.1M | 321,428 | -0.06pp | 32q | +1.0%+$151.8K | |
| VANGUARD INDEX FDS | VTI | $13.2M | 35,252 | -0.01pp | 32q | -1.6%-$212.6K | |
| MICROSOFT CORP | MSFT | $12.9M | 25,086 | +0.58pp | 32q | -1.6%-$208.8K | |
| J P MORGAN EXCHANGE TRADED F | JEPQ | $12.6M | 206,418 | +0.01pp | 18q | +0.8%+$97.5K | |
| APPLE INC | AAPL | $11.8M | 35,295 | +0.21pp | 28q | -3.4%-$411.3K | |
| VANGUARD INTL EQUITY INDEX F | VWO | $11.5M | 194,552 | flat | 32q | +0.5%+$61.3K | |
| VANGUARD SCOTTSDALE FDS | VCIT | $11.5M | 147,266 | -0.08pp | 32q | +1.4%+$154.6K | |
| BERKSHIRE HATHAWAY INC DEL | BRKA | $11.2M | 15 | flat | 7q | HELD | |
| AMGEN INC | AMGN | $10.4M | 24,728 | +0.26pp | 28q | HELD | |
| J P MORGAN EXCHANGE TRADED F | JEPI | $10.3M | 182,373 | flat | 25q | +0.5%+$52.8K | |
| VANGUARD INDEX FDS | VB | $9.1M | 31,886 | -0.09pp | 32q | +0.8%+$68.3K | |
| SCHWAB STRATEGIC TR | SCHG | $8.7M | 241,903 | +0.09pp | 32q | HELD | |
| VANGUARD INDEX FDS | VNQ | $8.1M | 90,759 | -0.09pp | 32q | +0.8%+$61.3K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $8.0M | 16,084 | -0.02pp | 28q | -0.8%-$60.7K | |
| VANGUARD SPECIALIZED FUNDS | VIG | $7.7M | 33,197 | -0.03pp | 32q | -0.9%-$72.3K | |
| CORNING INC | GLW | $5.3M | 34,716 | -0.61pp | 32q | HELD | |
| FIRST TR EXCHNG TRADED FD VI | BUFR | $5.2M | 139,794 | +0.02pp | 20q | -0.6%-$30.8K | |
| CATERPILLAR INC | CAT | $5.1M | 6,291 | -0.28pp | 32q | -0.7%-$37.3K | |
| NVIDIA CORPORATION | NVDA | $4.7M | 20,706 | +0.11pp | 26q | +0.5%+$24.9K | |
| J P MORGAN EXCHANGE TRADED F | JPST | $4.3M | 85,545 | +0.16pp | 27q | +28.8%+$963.2K | |
| FIDELITY WISE ORIGIN BITCOIN | FBTC | $4.3M | 58,900 | +0.21pp | 11q | -1.0%-$41.5K | |
| SCHWAB STRATEGIC TR | SCHD | $4.2M | 127,647 | +0.02pp | 32q | HELD | |
| SCHWAB STRATEGIC TR | FNDX | $4.0M | 127,291 | +0.01pp | 32q | HELD | |
| SCHWAB STRATEGIC TR | SCHB | $4.0M | 136,202 | +0.02pp | 32q | +1.3%+$51.6K | |
| GOLDMAN SACHS PHYSICAL GOLD | AAAU | $3.6M | 88,762 | flat | 14q | -3.5%-$133.7K | |
| UNION PAC CORP | UNP | $3.3M | 12,036 | -0.01pp | 32q | -1.2%-$40.8K | |
| ISHARES TR | IWF | $3.3M | 26,036 | +0.01pp | 32q | HELD | |
| JOHNSON & JOHNSON | JNJ | $3.1M | 11,849 | +0.03pp | 32q | +0.5%+$16.7K | |
| FIRST TR EXCHNG TRADED FD VI | EIPI | $2.9M | 137,948 | -0.03pp | 10q | -3.0%-$91.8K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $2.9M | 3,827 | +0.02pp | 32q | +1.1%+$31.3K | |
| INNOVATOR ETFS TRUST | BSTP | $2.8M | 70,014 | -0.05pp | 18q | -11.3%-$357.4K | |
| ADVISORS INNER CIRCLE FD III | SAMT | $2.6M | 63,086 | flat | 18q | +15.0%+$342.4K | |
| SCHWAB STRATEGIC TR | SCHF | $2.6M | 93,202 | -0.01pp | 32q | HELD | |
| STATE STR SPDR S&P MIDCAP 40 | MDY | $2.6M | 3,884 | -0.03pp | 32q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | FTSM | $2.5M | 42,200 | +0.08pp | 28q | +24.8%+$498.3K | |
| ALPHABET INC | GOOGL | $2.4M | 6,971 | -0.03pp | 32q | -3.9%-$96.7K | |
| ISHARES TR | IJR | $2.4M | 17,551 | -0.03pp | 32q | HELD | |
| ABBVIE INC | ABBV | $2.2M | 8,525 | +0.02pp | 32q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | AIRR | $2.0M | 19,851 | -0.07pp | 6q | +7.2%+$138.3K | |
| J P MORGAN EXCHANGE TRADED F | JGRO | $2.0M | 21,143 | +0.01pp | 8q | +4.9%+$94.6K | |
| FIRST TR EXCHANGE-TRADED FD | GRID | $2.0M | 11,102 | -0.02pp | 9q | +2.9%+$56.1K | |
| SCHWAB STRATEGIC TR | SCHM | $1.9M | 56,900 | -0.03pp | 32q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | EMLP | $1.9M | 46,219 | -0.03pp | 25q | -3.1%-$60.3K | |
| INVESCO QQQ TR | QQQ | $1.9M | 2,540 | -0.01pp | 32q | -3.5%-$68.8K | |
| FIRST TR EXCHANGE-TRADED FD | SDVD | $1.8M | 84,236 | +0.05pp | 7q | +27.8%+$394.9K | |
| EMCOR GROUP INC | EME | $1.8M | 2,370 | -0.03pp | 32q | -0.8%-$15.1K | |
| CISCO SYS INC | CSCO | $1.8M | 16,336 | -0.03pp | 32q | -1.0%-$18.3K | |
| META PLATFORMS INC | META | $1.8M | 2,418 | +0.06pp | 32q | -4.2%-$76.1K | |
| SCHWAB STRATEGIC TR | SCHA | $1.7M | 53,191 | -0.03pp | 32q | HELD | |
| ISHARES TR | IWM | $1.7M | 6,217 | -0.02pp | 32q | HELD | |
| LOWES COS INC | LOW | $1.7M | 9,327 | -0.08pp | 32q | -5.7%-$104.5K | |
| ISHARES TR | LQD | $1.7M | 16,530 | -0.02pp | 32q | +0.9%+$14.3K | |
| VANECK ETF TRUST | SMH | $1.7M | 2,754 | -0.02pp | 22q | HELD | |
| DANAHER CORP DEL | DHR | $1.7M | 7,472 | +0.04pp | 32q | -2.0%-$33.0K | |
| VANGUARD STAR FDS | VXUS | $1.6M | 19,068 | -0.04pp | 32q | -10.9%-$198.8K | |
| ISHARES TR | EFA | $1.6M | 15,182 | flat | 32q | HELD | |
| STATE STR SPDR DOW JONES IND | DIA | $1.6M | 3,073 | -0.03pp | 32q | -7.1%-$119.5K | |
| VANGUARD INTL EQUITY INDEX F | VNQI | $1.5M | 36,435 | -0.01pp | 25q | HELD | |
| INNOVATOR ETFS TRUST | NAPR | $1.5M | 25,269 | -0.01pp | 13q | -5.1%-$82.8K | |
| BITWISE 10 CRYPTO INDEX ETF | BITW | $1.5M | 27,868 | +0.08pp | 4q | HELD | |
| JPMORGAN CHASE & CO | JPM | $1.5M | 4,556 | flat | 32q | -1.8%-$28.1K | |
| INTEL CORP | INTC | $1.4M | 11,875 | -0.04pp | 32q | +0.8%+$11.4K | |
| SCHWAB STRATEGIC TR | SCHX | $1.4M | 47,064 | +0.01pp | 25q | HELD | |
| SCHWAB STRATEGIC TR | FNDA | $1.4M | 38,930 | -0.02pp | 32q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | WCMI | $1.3M | 70,605 | -0.01pp | 5q | HELD | |
| SIMPLIFY EXCHANGE TRADED FUN | PINK | $1.3M | 34,400 | +0.01pp | 7q | +6.2%+$78.0K | |
| SIMPLIFY EXCHANGE TRADED FUN | BUCK | $1.3M | 57,407 | +0.01pp | 8q | +6.6%+$82.0K | |
| VANGUARD SCOTTSDALE FDS | VCSH | $1.3M | 16,981 | flat | 32q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | FTCS | $1.2M | 13,187 | flat | 26q | HELD | |
| VISA INC | V | $1.2M | 3,321 | -0.01pp | 32q | -7.5%-$97.0K | |
| NOVARTIS AG | NVS | $1.2M | 8,356 | -0.02pp | 32q | -1.4%-$17.0K | |
| EXXONMOBIL HOLDINGS CORP | XOM | $1.2M | 7,232 | - | new | NEW | |
| MERCK & CO INC | MRK | $1.1M | 7,902 | +0.02pp | 32q | +0.6%+$7.3K | |
| SIMPLIFY EXCHANGE TRADED FUN | HEQT | $1.1M | 33,308 | +0.01pp | 7q | +3.5%+$38.2K | |
| INVESCO EXCHANGE TRADED FD T | RSP | $1.1M | 5,275 | flat | 32q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | DOGG | $1.1M | 52,146 | flat | 14q | +0.9%+$9.7K | |
| O'REILLY AUTOMOTIVE INC | ORLY | $1.1M | 12,650 | -0.01pp | 32q | HELD | |
| SIMPLIFY EXCHANGE TRADED FUN | MTBA | $1.1M | 22,498 | flat | 12q | +7.4%+$72.2K | |
| ORACLE CORP | ORCL | $1.0M | 7,568 | -0.01pp | 32q | HELD | |
| SPDR GOLD TR | GLD | $1.0M | 2,720 | flat | 32q | -0.7%-$7.6K | |
| ILLINOIS TOOL WKS INC | ITW | $1.0M | 3,978 | -0.01pp | 32q | HELD | |
| ACCENTURE PLC IRELAND | ACN | $1.0M | 5,580 | +0.06pp | 32q | HELD | |
| AMAZON COM INC | AMZN | $972.2K | 3,902 | +0.01pp | 28q | +2.1%+$19.9K | |
| CHEVRON CORPORATION | CVX | $962.2K | 4,712 | +0.03pp | 32q | -1.0%-$10.2K | |
| ALPHABET INC | GOOG | $937.0K | 2,750 | -0.01pp | 29q | HELD | |
| AMERICAN EXPRESS CO | AXP | $884.9K | 2,910 | -0.02pp | 28q | HELD | |
| SIMPLIFY EXCHANGE TRADED FUN | SVOL | $860.5K | 52,564 | +0.01pp | 21q | +1.9%+$15.6K | |
| AUTOMATIC DATA PROCESSING IN | ADP | $858.3K | 3,326 | +0.01pp | 28q | -4.0%-$36.1K | |
| PEPSICO INC | PEP | $837.2K | 6,607 | -0.01pp | 32q | HELD | |
| PROCTER & GAMBLE CO | PG | $808.6K | 5,566 | flat | 32q | -2.5%-$20.3K | |
| COCA COLA CO | KO | $800.9K | 9,305 | +0.01pp | 32q | -1.4%-$11.0K | |
| SCHWAB STRATEGIC TR | SCHO | $782.5K | 32,796 | flat | 32q | HELD | |
| PALO ALTO NETWORKS INC | PANW | $778.7K | 1,960 | +0.02pp | 12q | -2.2%-$17.9K | |
| ISHARES TR | IVV | $729.9K | 953 | flat | 23q | HELD | |
| SPDR SERIES TRUST | SPYD | $728.5K | 16,056 | -0.02pp | 16q | -7.0%-$54.4K | |
| SPDR SERIES TRUST | SDY | $727.4K | 4,966 | flat | 32q | HELD | |
| ARK ETF TR | ARKG | $706.0K | 13,021 | +0.03pp | 4q | +3.5%+$24.1K | |
| STARBUCKS CORP | SBUX | $692.9K | 7,374 | -0.01pp | 32q | HELD | |
| SPROTT FDS TR | SETM | $680.1K | 23,211 | -0.01pp | 3q | HELD | |
| ADVISORS INNER CIRCLE FD III | SAGP | $664.4K | 18,985 | flat | 18q | +0.8%+$5.1K | |
| RTX CORPORATION | RTX | $660.3K | 3,556 | -0.01pp | 26q | -9.0%-$65.4K | |
| ARK ETF TR | ARKQ | $646.7K | 5,333 | +0.01pp | 3q | +20.7%+$111.1K | |
| ABBOTT LABORATORIES | ABT | $639.4K | 6,470 | +0.01pp | 28q | HELD | |
| ISHARES TR | IJJ | $622.0K | 4,517 | -0.02pp | 32q | -11.9%-$84.0K | |
| INNOVATOR ETFS TRUST | PSTP | $620.7K | 16,575 | -0.01pp | 16q | -9.0%-$61.0K | |
| INTUITIVE SURGICAL INC | ISRG | $611.2K | 1,503 | flat | 32q | HELD | |
| ISHARES TR | AGG | $610.5K | 6,458 | flat | 32q | HELD | |
| NXP SEMICONDUCTORS N V | NXPI | $605.7K | 2,550 | -0.02pp | 32q | HELD | |
| ISHARES TR | IEF | $586.9K | 6,571 | -0.01pp | 32q | HELD | |
| FIRST TR EXCHANGE TRADED FD | RDVY | $586.2K | 7,487 | flat | 3q | +5.3%+$29.8K | |
| UNITEDHEALTH GROUP INC | UNH | $585.1K | 1,594 | -0.02pp | 32q | -3.7%-$22.4K | |
| SCHWAB STRATEGIC TR | SCHP | $584.4K | 23,255 | -0.01pp | 32q | HELD | |
| QUALCOMM INC | QCOM | $554.1K | 3,011 | flat | 32q | +0.5%+$2.8K | |
| WELLS FARGO & CO | WFC | $538.6K | 6,728 | flat | 32q | HELD | |
| ISHARES TR | DVY | $537.6K | 3,535 | flat | 32q | HELD | |
| ISHARES GOLD TR | IAU | $534.8K | 6,848 | flat | 22q | HELD | |
| ISHARES TR | IYW | $529.8K | 2,000 | flat | 14q | HELD | |
| VANGUARD WORLD FD | VDE | $529.0K | 3,073 | +0.01pp | 32q | HELD | |
| SIMPLIFY EXCHANGE TRADED FUN | YGLD | $523.8K | 17,124 | flat | 7q | +6.3%+$31.2K | |
| SIMPLIFY EXCHANGE TRADED FUN | CTA | $521.7K | 18,088 | -0.01pp | 15q | -15.6%-$96.6K | |
| SIMPLIFY EXCHANGE TRADED FUN | MAXI | $506.0K | 33,674 | +0.04pp | 12q | HELD | |
| VANGUARD SCOTTSDALE FDS | VMBS | $497.4K | 11,201 | flat | 32q | HELD | |
| INNOVATOR ETFS TRUST | PJAN | $497.3K | 9,804 | flat | 26q | HELD | |
| GOLDMAN SACHS ETF TR | GSLC | $450.5K | 3,106 | flat | 26q | -0.8%-$3.5K | |
| ROPER TECHNOLOGIES INC | ROP | $447.6K | 1,281 | flat | 32q | HELD | |
| nan | OUSM | $447.2K | 9,737 | flat | 18q | HELD | |
| FIRST TR EXCHNG TRADED FD VI | FIXD | $445.0K | 10,782 | -0.09pp | 28q | -50.4%-$452.8K | |
| BLACKROCK INC | BLK | $429.7K | 406 | +0.01pp | 8q | HELD | |
| SCHWAB STRATEGIC TR | SCHV | $428.6K | 12,868 | flat | 14q | +3.8%+$15.6K | |
| FIRST TR EXCHNG TRADED FD VI | XDEC | $425.4K | 9,710 | flat | 16q | HELD | |
| GARMIN LTD | GRMN | $415.9K | 1,450 | +0.01pp | 11q | HELD | |
| J P MORGAN EXCHANGE TRADED F | JTEK | $387.5K | 3,684 | flat | 4q | +7.8%+$28.1K | |
| COSTCO WHOLESALE CORPORATION | COST | $382.4K | 420 | flat | 18q | HELD | |
| DEERE CO | DE | $380.1K | 566 | flat | 25q | HELD | |
| FIRST TR EXCHNG TRADED FD VI | FAUG | $379.4K | 6,585 | flat | 13q | -5.7%-$22.8K | |
| FIRST TR EXCHANGE-TRADED FD | IGLD | $378.6K | 18,631 | flat | 12q | +4.0%+$14.6K | |
| SIMPLIFY EXCHANGE TRADED FUN | PFIX | $377.5K | 6,002 | +0.02pp | 5q | -2.8%-$11.1K | |
| FIRST TR EXCHNG TRADED FD VI | BUFD | $373.0K | 12,282 | flat | 20q | -2.8%-$10.6K | |
| US BANCORP | USB | $367.1K | 6,355 | flat | 32q | HELD | |
| FIRST TR EXCHNG TRADED FD VI | XJUN | $363.5K | 8,020 | flat | 17q | HELD | |
| CHARLES RIV LABS INTL INC | CRL | $354.0K | 1,200 | +0.01pp | 4q | HELD | |
| INNOVATOR ETFS TRUST | BALT | $349.6K | 10,004 | flat | 7q | HELD | |
| GOLDMAN SACHS ETF TR | GSIE | $348.4K | 7,600 | flat | 16q | HELD | |
| VANGUARD WHITEHALL FDS | VYM | $347.8K | 2,241 | flat | 4q | HELD | |
| GILEAD SCIENCES INC | GILD | $335.4K | 2,250 | +0.01pp | 9q | HELD | |
| ISHARES TR | ITB | $330.7K | 3,800 | -0.01pp | 16q | HELD | |
| FIRST TR EXCHNG TRADED FD VI | BUFZ | $329.5K | 11,545 | flat | 4q | HELD | |
| FEDEX CORP | FDX | $326.4K | 1,145 | -0.01pp | 32q | -1.9%-$6.3K | |
| FIRST TR EXCHNG TRADED FD VI | GMAY | $319.7K | 7,280 | flat | 13q | HELD | |
| EXCHANGE TRADED CONCEPTS TRU | ROBO | $318.7K | 3,961 | +0.01pp | 2q | +40.4%+$91.7K | |
| SPDR SERIES TRUST | IBND | $310.8K | 10,400 | flat | 32q | HELD | |
| J P MORGAN EXCHANGE TRADED F | JBND | $308.9K | 6,042 | flat | 4q | +0.6%+$1.7K | |
| FIRST TR EXCHNG TRADED FD VI | DHDG | $302.6K | 8,038 | flat | 8q | -7.8%-$25.6K | |
| FIRST TR EXCHANGE-TRADED FD | FDN | $301.7K | 1,046 | flat | 31q | HELD | |
| INTERNATIONAL BUSINESS MACHS | IBM | $299.1K | 1,360 | -0.01pp | 32q | HELD | |
| MEDTRONIC PLC | MDT | $296.0K | 3,430 | -0.01pp | 32q | -17.5%-$63.0K | |
| SPDR INDEX SHS FDS | SPDW | $288.6K | 5,747 | flat | 7q | HELD | |
| FIRST TR EXCHANGE TRADED FD | FTRI | $287.3K | 17,120 | flat | 18q | HELD | |
| DYNEX CAP INC | DX | $282.0K | 25,311 | -0.01pp | 15q | +4.1%+$11.1K | |
| J P MORGAN EXCHANGE TRADED F | HELO | $278.1K | 4,021 | flat | 4q | +4.0%+$10.7K | |
| BOEING CO | BA | $273.5K | 1,470 | -0.01pp | 28q | +3.2%+$8.4K | |
| SCHWAB STRATEGIC TR | SCHH | $261.7K | 11,874 | flat | 32q | HELD | |
| 3M CO | MMM | $255.3K | 1,555 | flat | 12q | HELD | |
| SPDR SERIES TRUST | SPYV | $248.8K | 4,070 | flat | 22q | HELD | |
| TARGET CORP | TGT | $240.5K | 1,535 | +0.01pp | 2q | HELD | |
| GOLDMAN SACHS ETF TR | GEM | $240.2K | 4,700 | flat | 3q | HELD | |
| ISHARES TR | IQLT | $237.7K | 4,805 | -0.01pp | 23q | -17.1%-$49.2K | |
| BECTON DICKINSON CO | BDX | $236.6K | 1,322 | +0.01pp | 28q | HELD | |
| SIMPLIFY EXCHANGE TRADED FUN | CDX | $234.6K | 11,631 | flat | 2q | +3.0%+$6.9K | |
| ISHARES INC | EWG | $227.2K | 5,500 | flat | 7q | HELD | |
| ISHARES INC | EWJ | $223.2K | 2,290 | flat | 2q | HELD | |
| FIRST TR EXCHNG TRADED FD VI | XSEP | $220.7K | 4,875 | flat | 2q | +2.1%+$4.5K | |
| ISHARES TR | IVW | $213.2K | 1,499 | flat | 2q | HELD | |
| INNOVATOR ETFS TRUST | NJAN | $210.6K | 3,471 | flat | 5q | -7.0%-$15.8K | |
| GLOBAL X FDS | BKCH | $210.3K | 3,011 | flat | 2q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | FIW | $207.7K | 2,001 | flat | 7q | -5.7%-$12.5K | |
| VERIZON COMMUNICATIONS INC | VZ | $204.5K | 4,458 | - | new | NEW | |
| SPROTT ASSET MANAGEMENT LP | PSLV | $198.5K | 10,247 | - | 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 |
|---|---|---|
| Software & IT Services | $19.9M | 3.4% |
| Insurance | $19.8M | 3.4% |
| Biotech & Pharma | $19.5M | 3.3% |
| Computer Hardware | $14.6M | 2.5% |
| Capital Markets | $11.6M | 2.0% |
| Other sectors | $52.1M | 9.0% |
| Not classified | $443.5M | 76.3% |
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 |
|---|---|---|---|---|
| Q3 2026 | -0.4% | +2.1% | -2.5% | 100% |
| Q2 2026 | +9.6% | +14.8% | -5.2% | 100% |
| Q1 2026 | -1.7% | -4.6% | +2.9% | 100% |
| Q4 2025 | +1.2% | +2.4% | -1.2% | 100% |
| Q3 2025 | +5.9% | +7.8% | -1.9% | 100% |
| Q2 2025 | +5.8% | +10.5% | -4.7% | 100% |
| Q1 2025 | -1.3% | -4.6% | +3.2% | 100% |
| Q4 2024 | -1.6% | +2.1% | -3.8% | 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 | $581.0M | 182 | 3 | 47 | 49 | 4 | 52.6% | 19 |
| Q2 2026 | $581.7M | 183 | 7 | 49 | 55 | 2 | 52.4% | 16 |
| Q1 2026 | $515.3M | 178 | 6 | 31 | 55 | 4 | 51.3% | 16 |
| Q4 2025 | $525.3M | 176 | 10 | 42 | 51 | 3 | 52.0% | 21 |
| Q3 2025 | $511.7M | 169 | 4 | 31 | 56 | 3 | 52.6% | 15 |
| Q2 2025 | $478.4M | 168 | 1 | 33 | 66 | 8 | 52.8% | 16 |
| Q1 2025 | $456.6M | 175 | 10 | 24 | 46 | 3 | 51.4% | 24 |
| Q4 2024 | $448.0M | 168 | 4 | 50 | 54 | 6 | 52.6% | 16 |
| Q3 2024 | $457.7M | 170 | 6 | 33 | 52 | 3 | 52.6% | 23 |
| Q2 2024 | $430.4M | 167 | 2 | 53 | 51 | 2 | 53.0% | 11 |
| Q1 2024 | $424.1M | 167 | 5 | 43 | 55 | 3 | 52.7% | 16 |
| Q4 2023 | $398.0M | 165 | 8 | 26 | 56 | 7 | 53.1% | 17 |
| Q3 2023 | $372.4M | 164 | 4 | 30 | 64 | 6 | 53.9% | 18 |
| Q2 2023 | $390.8M | 166 | 6 | 37 | 77 | 21 | 55.8% | 13 |
| Q1 2023 | $390.7M | 181 | 6 | 35 | 52 | 6 | 54.2% | 13 |
| Q4 2022 | $372.6M | 181 | 12 | 25 | 75 | 5 | 53.1% | 23 |
| Q3 2022 | $349.0M | 174 | 5 | 46 | 72 | 8 | 54.3% | 17 |
| Q2 2022 | $365.9M | 177 | 13 | 40 | 80 | 15 | 55.1% | 18 |
| Q1 2022 | $419.6M | 179 | 2 | 56 | 53 | 7 | 55.1% | 35 |
| Q4 2021 | $442.7M | 184 | 7 | 56 | 56 | 1 | 55.0% | 14 |
| Q3 2021 | $410.5M | 178 | 7 | 38 | 50 | 1 | 55.6% | 19 |
| Q2 2021 | $413.5M | 172 | 9 | 33 | 64 | 1 | 55.4% | 21 |
| Q1 2021 | $391.3M | 164 | 9 | 39 | 45 | 4 | 55.0% | 22 |
| Q4 2020 | $371.5M | 159 | 12 | 26 | 52 | 2 | 56.4% | 25 |
| Q3 2020 | $339.5M | 149 | 11 | 24 | 42 | 4 | 57.0% | 15 |
| Q2 2020 | $319.3M | 142 | 12 | 28 | 45 | 7 | 57.9% | 17 |
| Q1 2020 | $274.5M | 137 | 5 | 58 | 41 | 15 | 58.7% | 21 |
| Q4 2019 | $327.8M | 147 | 18 | 30 | 55 | 1 | 57.1% | 28 |
| Q3 2019 | $284.2M | 130 | 3 | 17 | 42 | 10 | 61.9% | 25 |
| Q2 2019 | $303.0M | 137 | 6 | 20 | 63 | 5 | 58.8% | 26 |
| Q1 2019 | $293.7M | 136 | 5 | 9 | 82 | 3 | 57.4% | 16 |
| Q4 2018 | $268.8M | 134 | 0 | 0 | 0 | 0 | 57.1% | 29 |
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.