DaveManuel.com · Institutional Ownership · 13F Holdings
ARTHUR M. COHEN & ASSOCIATES, LLC
Reported holdings as of Q3 2026, from 33 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| NVIDIA CORPORATION | NVDA | $76.7M | 336,044 | +0.84pp | 29q | -1.7%-$1.4M | |
| APPLE INC | AAPL | $58.2M | 174,774 | +0.77pp | 33q | -1.0%-$582.1K | |
| INVESCO EXCH TRADED FD TR II | QQQM | $47.2M | 155,058 | -0.05pp | 24q | +2.7%+$1.3M | |
| ALPHABET INC | GOOG | $40.9M | 120,271 | -0.66pp | 33q | -2.4%-$1.0M | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $36.4M | 73,015 | -0.29pp | 33q | -0.8%-$280.8K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $33.2M | 43,573 | -0.28pp | 33q | -3.6%-$1.2M | |
| AMAZON COM INC | AMZN | $31.5M | 126,551 | -0.08pp | 33q | -2.2%-$715.1K | |
| MICROSOFT CORP | MSFT | $29.5M | 57,590 | +1.06pp | 33q | -0.7%-$220.5K | |
| ELI LILLY & CO | LLY | $25.4M | 21,973 | -0.32pp | 33q | HELD | |
| DANAHER CORP DEL | DHR | $24.7M | 111,529 | +0.14pp | 33q | -7.1%-$1.9M | |
| CROWDSTRIKE HLDGS INC | CRWD | $21.0M | 79,171 | +0.80pp | 26q | +0.5%+$113.0K | |
| VANGUARD WHITEHALL FDS | VYM | $16.0M | 102,966 | -0.04pp | 33q | -79.4%-$61.4M | |
| COSTCO WHOLESALE CORPORATION | COST | $14.9M | 16,415 | -0.15pp | 33q | HELD | |
| BLACKROCK INC | BLK | $11.4M | 10,774 | +0.08pp | 6q | -0.9%-$107.9K | |
| BERKSHIRE HATHAWAY INC DEL | BRKA | $11.2M | 15 | -0.07pp | 33q | HELD | |
| NETFLIX INC. | NFLX | $8.3M | 119,318 | -0.11pp | 33q | -1.7%-$144.0K | |
| MARVELL TECHNOLOGY INC | MRVL | $8.1M | 30,772 | -0.29pp | 17q | -5.6%-$478.5K | |
| META PLATFORMS INC | META | $8.1M | 11,132 | +0.23pp | 33q | HELD | |
| INVESCO QQQ TR | QQQ | $7.6M | 10,249 | -0.04pp | 33q | HELD | |
| RTX CORPORATION | RTX | $7.4M | 39,761 | -0.06pp | 26q | +0.6%+$41.2K | |
| PROGRESSIVE CORP | PGR | $6.7M | 32,509 | -0.12pp | 30q | -2.0%-$141.0K | |
| SHOPIFY INC | SHOP | $6.2M | 41,915 | +0.17pp | 26q | -2.5%-$161.4K | |
| VANGUARD INDEX FDS | VOO | $6.1M | 8,713 | -0.02pp | 33q | -0.6%-$35.0K | |
| PALO ALTO NETWORKS INC | PANW | $5.9M | 14,850 | +0.07pp | 19q | -3.2%-$195.9K | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $5.2M | 11,357 | -0.07pp | 24q | HELD | |
| ASML HLDG NV | ASML | $5.0M | 2,781 | flat | 25q | +13.8%+$610.5K | |
| THERMO FISHER SCIENTIFIC INC | TMO | $4.0M | 5,942 | +0.11pp | 33q | -5.7%-$241.7K | |
| VEEVA SYS INC | VEEV | $3.8M | 13,461 | +0.20pp | 33q | -1.0%-$40.0K | |
| INTUITIVE SURGICAL INC | ISRG | $3.7M | 9,004 | -0.04pp | 30q | -5.1%-$194.8K | |
| EATON CORP PLC | ETN | $3.6M | 8,492 | +0.04pp | 12q | +11.6%+$380.3K | |
| GE AEROSPACE | GE | $3.5M | 11,321 | -0.06pp | 10q | +11.6%+$368.8K | |
| PALANTIR TECHNOLOGIES INC | PLTR | $3.5M | 18,511 | +0.16pp | 8q | -7.6%-$284.9K | |
| VISA INC | V | $3.0M | 8,393 | flat | 22q | HELD | |
| EQUINIX INC | EQIX | $3.0M | 2,980 | -0.02pp | 24q | +1.7%+$51.6K | |
| ALPHABET INC | GOOGL | $2.9M | 8,376 | -0.03pp | 28q | HELD | |
| JOHNSON & JOHNSON | JNJ | $2.8M | 10,736 | +0.01pp | 33q | +0.9%+$26.5K | |
| ARCH CAP GROUP LTD | ACGL | $2.7M | 29,263 | -0.05pp | 33q | -3.4%-$95.6K | |
| HOME DEPOT INC | HD | $2.7M | 9,490 | -0.27pp | 33q | -22.1%-$764.7K | |
| VERALTO CORP | VLTO | $2.7M | 28,545 | -0.10pp | 10q | -22.4%-$775.2K | |
| WALMART INC | WMT | $2.6M | 24,946 | -0.04pp | 33q | +2.5%+$64.1K | |
| MASTERCARD INCORPORATED | MA | $2.6M | 4,698 | +0.01pp | 29q | -1.1%-$29.8K | |
| PROSHARES TR | NOBL | $2.6M | 47,540 | -0.09pp | 26q | -12.9%-$379.5K | |
| FIRST TR EXCHANGE-TRADED FD | FIW | $2.3M | 21,936 | -0.04pp | 25q | -1.5%-$34.4K | |
| VERTIV HOLDINGS CO | VRT | $2.2M | 9,166 | -0.12pp | 8q | +5.5%+$114.6K | |
| GALLAGHER ARTHUR J CO | AJG | $2.2M | 9,528 | -0.09pp | 13q | -18.5%-$493.2K | |
| BROADCOM INC | AVGO | $1.9M | 5,486 | -0.03pp | 12q | HELD | |
| GE VERNOVA INC | GEV | $1.9M | 1,998 | -0.05pp | 9q | +10.1%+$174.9K | |
| ABBVIE INC | ABBV | $1.8M | 7,025 | -0.02pp | 33q | -6.0%-$116.4K | |
| SCHWAB STRATEGIC TR | SCHG | $1.8M | 50,648 | +0.01pp | 31q | HELD | |
| ISHARES TR | IVV | $1.8M | 2,308 | flat | 33q | HELD | |
| SALESFORCE INC | CRM | $1.7M | 7,582 | +0.06pp | 33q | -9.7%-$187.6K | |
| JPMORGAN CHASE & CO | JPM | $1.7M | 5,209 | -0.01pp | 33q | HELD | |
| AMGEN INC | AMGN | $1.6M | 3,681 | +0.01pp | 33q | -7.5%-$126.4K | |
| CBOE GLOBAL MKTS INC | CBOE | $1.4M | 5,160 | +0.02pp | 33q | HELD | |
| STATE STR SPDR S&P MIDCAP 40 | MDY | $1.3M | 1,995 | -0.02pp | 33q | HELD | |
| INTERNATIONAL BUSINESS MACHS | IBM | $1.3M | 5,861 | -0.09pp | 5q | -9.9%-$142.3K | |
| SPDR SERIES TRUST | SPTM | $1.2M | 13,404 | flat | 24q | HELD | |
| AXON ENTERPRISE INC | AXON | $1.2M | 2,915 | -0.09pp | 8q | -7.8%-$104.8K | |
| INVESCO EXCHANGE TRADED FD T | SPHQ | $1.1M | 13,090 | -0.02pp | 31q | HELD | |
| ORACLE CORP | ORCL | $1.1M | 7,900 | -0.06pp | 15q | -18.9%-$252.6K | |
| CARRIER GLOBAL CORPORATION | CARR | $1.0M | 19,000 | -0.06pp | 25q | HELD | |
| OTIS WORLDWIDE CORP | OTIS | $900.5K | 14,000 | -0.02pp | 26q | HELD | |
| VANGUARD WORLD FD | VGT | $856.5K | 6,815 | +0.03pp | 15q | +31.7%+$206.0K | |
| ROBLOX CORP | RBLX | $849.5K | 20,049 | -0.04pp | 23q | HELD | |
| AON PLC | AON | $835.8K | 3,020 | -0.03pp | 25q | HELD | |
| EDWARDS LIFESCIENCES CORP | EW | $814.3K | 9,433 | -0.01pp | 33q | HELD | |
| WASTE MGMT INC DEL | WM | $771.8K | 3,785 | -0.02pp | 15q | HELD | |
| TESLA INC | TSLA | $755.7K | 2,130 | -0.03pp | 33q | -2.5%-$19.5K | |
| PROCTER & GAMBLE CO | PG | $713.4K | 4,911 | -0.01pp | 33q | HELD | |
| VANGUARD INDEX FDS | VUG | $674.7K | 7,488 | flat | 26q | HELD | |
| 3M CO | MMM | $656.6K | 4,000 | flat | 10q | HELD | |
| MCDONALDS CORP | MCD | $650.1K | 2,815 | -0.05pp | 33q | -19.1%-$153.8K | |
| BLACKSTONE INC | BX | $649.1K | 5,791 | -0.01pp | 13q | -2.8%-$18.8K | |
| MICRON TECHNOLOGY INC | MU | $622.0K | 584 | -0.01pp | 2q | HELD | |
| ISHARES TR | DVY | $618.3K | 4,066 | -0.01pp | 33q | +0.5%+$3.2K | |
| VANGUARD INDEX FDS | VTI | $617.4K | 1,650 | flat | 30q | HELD | |
| NATURAL GAS SVCS GROUP INC | NGS | $610.2K | 18,846 | -0.04pp | 5q | HELD | |
| VANGUARD INDEX FDS | VTV | $595.1K | 2,754 | flat | 7q | +1.8%+$10.8K | |
| MARATHON PETE CORP | MPC | $593.1K | 1,500 | +0.03pp | 12q | HELD | |
| CASEYS GEN STORES INC | CASY | $575.0K | 945 | -0.03pp | 4q | +2.8%+$15.8K | |
| ADVANCED MICRO DEVICES INC | AMD | $564.0K | 922 | flat | 2q | -1.1%-$6.1K | |
| ISHARES TR | IWR | $540.8K | 5,067 | -0.01pp | 12q | HELD | |
| SERVICENOW INC | NOW | $525.1K | 3,918 | +0.01pp | 11q | -9.3%-$53.6K | |
| ZEBRA TECHNOLOGIES CORPORATI | ZBRA | $507.7K | 1,360 | +0.02pp | 33q | HELD | |
| AMERIPRISE FINL INC | AMP | $506.6K | 1,029 | flat | 14q | HELD | |
| APPLIED MATLS INC | AMAT | $506.3K | 990 | -0.04pp | 4q | HELD | |
| ANALOG DEVICES INC | ADI | $476.8K | 1,202 | flat | 12q | HELD | |
| LOCKHEED MARTIN CORP | LMT | $472.6K | 928 | flat | 33q | -0.5%-$2.5K | |
| ISHARES TR | IWM | $470.6K | 1,694 | -0.01pp | 33q | HELD | |
| METLIFE INC | MET | $464.2K | 4,930 | flat | 9q | HELD | |
| NVENT ELEC PLC | NVT | $460.3K | 2,870 | -0.01pp | 4q | HELD | |
| VANGUARD INDEX FDS | VO | $455.4K | 5,807 | flat | 33q | HELD | |
| GILEAD SCIENCES INC | GILD | $451.6K | 3,030 | +0.01pp | 12q | HELD | |
| MOTOROLA SOLUTIONS INC | MSI | $435.7K | 977 | flat | 12q | HELD | |
| ISHARES TR | OEF | $424.9K | 1,112 | flat | 11q | HELD | |
| O'REILLY AUTOMOTIVE INC | ORLY | $421.2K | 4,931 | +0.01pp | 3q | +25.8%+$86.3K | |
| VANGUARD SPECIALIZED FUNDS | VIG | $418.6K | 1,794 | -0.02pp | 26q | -19.7%-$102.7K | |
| CISCO SYS INC | CSCO | $400.9K | 3,725 | -0.01pp | 16q | HELD | |
| SHERWIN WILLIAMS CO | SHW | $392.1K | 1,213 | -0.01pp | 14q | HELD | |
| TJX COS INC NEW | TJX | $380.3K | 2,874 | -0.01pp | 12q | +5.1%+$18.5K | |
| CORNING INC | GLW | $350.6K | 2,280 | -0.04pp | 3q | HELD | |
| CAPITAL GROUP GROWTH ETF | CGGR | $344.2K | 7,258 | flat | 7q | HELD | |
| ISHARES TR | DGRO | $339.3K | 4,500 | flat | 17q | HELD | |
| COCA COLA CO | KO | $337.9K | 3,925 | flat | 10q | HELD | |
| EXXONMOBIL HOLDINGS CORP | XOM | $337.7K | 2,075 | - | new | NEW | |
| CATERPILLAR INC | CAT | $321.9K | 397 | -0.02pp | 2q | HELD | |
| BANK OF AMER CORP | BAC | $317.9K | 5,841 | flat | 4q | +0.6%+$1.8K | |
| MARTIN MARIETTA MATLS INC | MLM | $311.9K | 650 | -0.01pp | 11q | HELD | |
| QUALCOMM INC | QCOM | $307.3K | 1,670 | flat | 12q | HELD | |
| SPDR SERIES TRUST | XAR | $303.9K | 1,314 | -0.01pp | 4q | HELD | |
| PHILIP MORRIS INTL INC | PM | $300.0K | 1,572 | flat | 3q | +6.1%+$17.4K | |
| CUMMINS INC | CMI | $288.2K | 558 | flat | 2q | +54.6%+$101.8K | |
| ISHARES TR | IWP | $280.9K | 2,040 | flat | 2q | HELD | |
| SELECT SECTOR SPDR TR | XLU | $275.1K | 6,976 | -0.01pp | 11q | HELD | |
| IDEX CORP | IEX | $273.6K | 1,200 | flat | 4q | HELD | |
| AUTOMATIC DATA PROCESSING IN | ADP | $273.5K | 1,060 | flat | 18q | HELD | |
| ISHARES TR | ITOT | $266.0K | 1,600 | flat | 6q | HELD | |
| BANK OF MONTREAL | BMO | $263.4K | 1,575 | flat | 2q | HELD | |
| SPDR SERIES TRUST | SPSM | $262.1K | 4,959 | -0.01pp | 6q | HELD | |
| VERTEX PHARMACEUTICALS INC | VRTX | $256.2K | 490 | flat | 15q | HELD | |
| STARBUCKS CORP | SBUX | $251.3K | 2,675 | flat | 33q | HELD | |
| ENTERPRISE PRODS PARTNERS L | EPD | $249.3K | 7,000 | flat | 2q | HELD | |
| LAM RESEARCH CORP | LRCX | $241.5K | 735 | -0.01pp | 2q | +11.4%+$24.6K | |
| FIDELITY NATL INFORMATION SV | FIS | $239.0K | 7,265 | -0.01pp | 2q | HELD | |
| HONEYWELL AEROSPACE INC | HONA | $238.7K | 1,540 | - | new | NEW | |
| ISHARES TR | IJK | $232.4K | 2,120 | - | new | NEW | |
| VANGUARD INDEX FDS | VB | $227.6K | 800 | flat | 5q | HELD | |
| COLGATE PALMOLIVE CO | CL | $226.1K | 2,650 | flat | 10q | HELD | |
| SPACE EXPLORATION TECHN CORP | SPCX | $223.3K | 1,480 | - | new | NEW | |
| BERKLEY W R CORP | WRB | $222.9K | 3,300 | flat | 12q | HELD | |
| FIDELITY COVINGTON TRUST | FDVV | $218.2K | 3,593 | flat | 2q | +3.7%+$7.8K | |
| SPDR SERIES TRUST | SDY | $213.6K | 1,458 | -0.04pp | 7q | -50.1%-$214.6K | |
| F&G ANNUITIES & LIFE INC | FG | $212.3K | 9,793 | -0.04pp | 10q | -40.1%-$141.9K | |
| FIDELITY NATL FINL INC | FNF | $207.8K | 5,377 | -0.05pp | 13q | -50.7%-$214.1K | |
| VANGUARD WORLD FD | VCR | $200.7K | 550 | flat | 33q | 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 |
|---|---|---|
| Software & IT Services | $120.6M | 18.1% |
| Semiconductors & Electronics | $103.4M | 15.5% |
| Computer Hardware | $65.8M | 9.9% |
| Insurance | $61.1M | 9.2% |
| Retail & Consumer | $54.4M | 8.2% |
| Funds & ETFs | $34.5M | 5.2% |
| Biotech & Pharma | $32.4M | 4.9% |
| Instruments & Controls | $31.4M | 4.7% |
| Capital Markets | $14.0M | 2.1% |
| Industrials | $13.1M | 2.0% |
| Other sectors | $38.3M | 5.7% |
| Not classified | $96.5M | 14.5% |
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 | +4.9% | +2.1% | +2.8% | 110% |
| Q2 2026 | +13.8% | +14.8% | -1.1% | 99% |
| Q1 2026 | -7.5% | -4.6% | -2.9% | 100% |
| Q4 2025 | +2.9% | +2.4% | +0.5% | 100% |
| Q3 2025 | +7.3% | +7.8% | -0.5% | 100% |
| Q2 2025 | +10.2% | +10.5% | -0.3% | 100% |
| Q1 2025 | -5.5% | -4.6% | -0.9% | 100% |
| Q4 2024 | +1.7% | +2.1% | -0.5% | 101% |
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 | $665.5M | 135 | 4 | 22 | 43 | 8 | 60.7% | 26 |
| Q2 2026 | $640.0M | 139 | 13 | 30 | 34 | 1 | 59.6% | 42 |
| Q1 2026 | $562.6M | 127 | 4 | 26 | 42 | 6 | 59.4% | 38 |
| Q4 2025 | $612.5M | 129 | 10 | 33 | 28 | 8 | 61.0% | 48 |
| Q3 2025 | $594.8M | 127 | 6 | 30 | 33 | 4 | 58.7% | 14 |
| Q2 2025 | $566.2M | 125 | 5 | 38 | 33 | 5 | 57.4% | 11 |
| Q1 2025 | $521.6M | 125 | 6 | 38 | 42 | 16 | 57.9% | 10 |
| Q4 2024 | $564.4M | 135 | 6 | 38 | 35 | 11 | 59.4% | 15 |
| Q3 2024 | $553.5M | 140 | 6 | 38 | 27 | 6 | 59.7% | 30 |
| Q2 2024 | $545.3M | 140 | 11 | 57 | 19 | 5 | 62.3% | 29 |
| Q1 2024 | $473.4M | 134 | 9 | 46 | 38 | 13 | 59.8% | 22 |
| Q4 2023 | $425.1M | 138 | 17 | 41 | 50 | 7 | 58.0% | 10 |
| Q3 2023 | $390.1M | 128 | 4 | 32 | 29 | 13 | 60.3% | 20 |
| Q2 2023 | $402.7M | 137 | 12 | 31 | 43 | 5 | 58.9% | 19 |
| Q1 2023 | $372.6M | 130 | 13 | 27 | 37 | 11 | 58.6% | 24 |
| Q4 2022 | $366.4M | 128 | 9 | 22 | 49 | 7 | 59.0% | 17 |
| Q3 2022 | $363.8M | 126 | 12 | 38 | 25 | 16 | 60.4% | 21 |
| Q2 2022 | $401.7M | 130 | 3 | 25 | 43 | 13 | 59.4% | 18 |
| Q1 2022 | $474.2M | 140 | 5 | 28 | 67 | 10 | 58.4% | 33 |
| Q4 2021 | $538.4M | 145 | 11 | 30 | 53 | 2 | 57.4% | 24 |
| Q3 2021 | $492.7M | 136 | 5 | 47 | 31 | 11 | 56.6% | 8 |
| Q2 2021 | $515.6M | 142 | 7 | 56 | 27 | 4 | 55.9% | 27 |
| Q1 2021 | $433.4M | 139 | 7 | 47 | 33 | 10 | 54.5% | 22 |
| Q4 2020 | $425.9M | 142 | 18 | 50 | 28 | 11 | 55.7% | 20 |
| Q3 2020 | $385.0M | 135 | 28 | 45 | 31 | 12 | 57.6% | 13 |
| Q2 2020 | $331.8M | 119 | 22 | 36 | 29 | 12 | 58.8% | 28 |
| Q1 2020 | $251.9M | 109 | 2 | 29 | 44 | 17 | 60.7% | 14 |
| Q4 2019 | $325.2M | 124 | 8 | 31 | 48 | 10 | 57.3% | 10 |
| Q3 2019 | $355.0M | 126 | 14 | 54 | 32 | 4 | 62.4% | 35 |
| Q2 2019 | $292.4M | 116 | 7 | 27 | 44 | 4 | 58.6% | 29 |
| Q1 2019 | $280.2M | 113 | 7 | 36 | 26 | 6 | 60.0% | 37 |
| Q4 2018 | $314.3M | 112 | 2 | 7 | 14 | 5 | 61.6% | 37 |
| Q4 2017 | $364.7M | 115 | 0 | 0 | 0 | 0 | 69.0% | 430 |
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.