DaveManuel.com · Institutional Ownership · 13F Holdings
HGC Investment Management Inc.
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ARTIUS II ACQUISITION INC | AACB | $15.7M | 1,500,000 | -0.33pp | 4q | HELD | |
| ALDABRA 4 LQDTY OPP VEH INC | ALOVU | $14.8M | 1,468,965 | -0.27pp | 2q | +1.7%+$251.5K | |
| SIDDHI ACQUISITION CORP C | SDHI | $13.0M | 1,250,000 | -0.29pp | 4q | HELD | |
| QDRO ACQUISITION CORP | QADRU | $12.9M | 1,291,800 | -0.08pp | 2q | +7.6%+$919.8K | |
| CH4 NATURAL SOLUTIONS CORP | MTNEU | $12.5M | 1,250,000 | - | new | NEW | |
| BERTO ACQUISITION CORP II | GUACU | $10.8M | 1,065,000 | - | new | NEW | |
| General Catalyst Gbl Resil M Unit 04/13/2031 | GCGRU | $10.3M | 1,000,000 | - | new | NEW | |
| KRAKACQUISITION CORPORATION | KRAQU | $10.1M | 1,000,000 | -0.22pp | 2q | HELD | |
| Futurecorp Space Acquisition Unit 99/99/9999 | FTRAU | $10.1M | 1,000,000 | - | new | NEW | |
| INTERPRIVATE INVTS PARTNERS | IPVVU | $9.9M | 1,000,000 | - | new | NEW | |
| SOULPOWER | SOUL | $9.9M | 953,146 | -0.22pp | 4q | HELD | |
| OXLEY BRIDGE ACQ LTD | OBAWU | $9.8M | 950,000 | -0.23pp | 5q | HELD | |
| Gores Holdings Xi Inc Unit 06/24/2031 | GHXIU | $9.6M | 950,000 | - | new | NEW | |
| Cantor Equity Partners VII Inc | CAES | $9.4M | 935,000 | - | new | NEW | |
| PYROPHYTE ACQUISITION CORP. | PAII | $8.7M | 850,000 | -0.20pp | 3q | HELD | |
| Wilco 63 Corp | WLCOU | $8.5M | 850,000 | - | new | NEW | |
| IDEA ACQUISITION CORP | IACOU | $8.1M | 809,700 | -0.15pp | 2q | +1.2%+$97.2K | |
| KEYSTONE ACQUISITION CORP | KEYYU | $8.0M | 800,000 | - | new | NEW | |
| AMERICAN DRIVE ACQ CRP; TNT ACQ DT: 12/17/2027; CASH: $10.00 | ADAC | $7.9M | 786,413 | -0.17pp | 2q | HELD | |
| TRG LATIN AMER ACQUIS CORP | TRGSU | $7.7M | 765,000 | -0.17pp | 2q | HELD | |
| Pioneer Acquisition I Corp Unit 06/16/2030 | PACHU | $7.7M | 743,077 | -0.18pp | 5q | HELD | |
| Ares Acquisition Corp Iii Unit 99/99/9999 | AACU | $7.5M | 750,000 | - | new | NEW | |
| SNOW ROTHSCHILD ACQUISITION | ISNRU | $7.5M | 750,000 | - | new | NEW | |
| LAUNCHPAD CADENZA ACQU CORP | LPCV | $7.2M | 725,000 | - | new | NEW | |
| EQV VENTURES AC CORP. II | EVACU | $7.2M | 697,174 | -0.15pp | 4q | HELD | |
| SIZZLE ACQUISITION CORP. II | SZZL | $6.7M | 650,539 | -0.15pp | 4q | HELD | |
| REPUBLIC DIGITAL ACQUISITION | RDAG | $6.7M | 646,675 | -0.15pp | 5q | HELD | |
| CARTESIAN GROWTH CORP IV | CGCFU | $6.5M | 650,000 | - | new | NEW | |
| M3-Brigade Acquisition Vi Co Unit 08/18/2030 | MBVIU | $6.4M | 625,000 | -0.14pp | 4q | HELD | |
| ELECTRONIC ARTS INC | EA | $6.2M | 30,316 | -0.71pp | 4q | -29.2%-$2.6M | |
| HCM III ACQUISITION CORP O | HCMA | $6.2M | 600,000 | -0.12pp | 4q | HELD | |
| Silverbox Corp V Unit 99/99/9999 | SBXEU | $6.1M | 899,986 | -0.14pp | 3q | HELD | |
| CANTOR EQUITY PARTNERS V INC | CEPV | $6.0M | 583,153 | -0.12pp | 3q | HELD | |
| Futurecrest Acquisition Corp Unit 99/99/9999 | FCRSU | $5.7M | 550,000 | -0.11pp | 4q | HELD | |
| MOZAYYX ACQUISITION CORP | MZYX | $5.7M | 575,000 | - | new | NEW | |
| CANTOR EQU | CEPF | $5.7M | 550,000 | -0.11pp | 4q | HELD | |
| WEN ACQUISITION CORP | WENN | $5.7M | 550,000 | -0.12pp | 4q | HELD | |
| Ithax Acquisition Corp Iii Unit 11/17/2030 | ITHAU | $5.6M | 550,000 | -0.11pp | 3q | HELD | |
| Thayer Ventures Acquisition Corp II | TVAI | $5.4M | 525,000 | -0.12pp | 2q | HELD | |
| Figx Cap Acquisition Corp. Unit 06/17/2030 | FIGXU | $5.2M | 500,000 | -0.12pp | 5q | HELD | |
| KARBON CAP PARTNERS CORP | KBONU | $5.1M | 500,000 | -0.12pp | 3q | HELD | |
| ONEIM ACQUISITION CORP | OIMAU | $5.1M | 516,249 | -0.11pp | 2q | +3.2%+$160.6K | |
| Iron Dome Acquisition I Corp Unit 02/27/2031 | IDACU | $5.0M | 500,000 | - | new | NEW | |
| Mozayyx Acquisition Corp Unit 99/99/9999 | MZYXU | $5.0M | 500,000 | -0.11pp | 2q | HELD | |
| LONG TABLE GROWTH CORP | LTGRU | $5.0M | 500,000 | - | new | NEW | |
| RMG ML SPORTS HOLDINGS | SHOTU | $5.0M | 500,000 | - | new | NEW | |
| GP-ACT III ACQUISITION CORP | GPAT | $4.3M | 399,387 | +0.86pp | 8q | HELD | |
| AI INFRASTRUCTURE ACQUISI | AIIAU | $4.1M | 400,000 | -0.09pp | 3q | HELD | |
| CRANE HBR ACQUISITION CORP I | CRANU | $4.1M | 400,000 | -0.09pp | 3q | HELD | |
| Trailblazer Acquisition Corp Unit 08/21/2030 | BLZRU | $4.1M | 400,000 | -0.09pp | 4q | HELD | |
| APEX TREAS CORP | APXTU | $4.1M | 400,000 | -0.09pp | 3q | HELD | |
| Kpet Ultra Paceline Corp Unit 99/99/9999 | KPETU | $4.0M | 400,000 | -0.09pp | 2q | HELD | |
| HARVARD AVE ACQUISITION CORP | HAVA | $3.8M | 375,000 | - | new | NEW | |
| VINE HILL CAP INVTS CORP II | VHCPU | $3.5M | 350,000 | -0.08pp | 3q | HELD | |
| Muzero Acquisition Corp Unit 01/30/2031 | MUZEU | $3.5M | 350,000 | -0.08pp | 2q | HELD | |
| SOLARIUS CAPITAL ACQU CORP | SOCAU | $3.1M | 300,000 | -0.07pp | 4q | HELD | |
| EVOLUTION GLOBAL ACQUISITION | EVOXU | $3.1M | 300,000 | -0.08pp | 3q | HELD | |
| FORTRESS V | FVAV | $3.0M | 300,000 | -0.07pp | 2q | HELD | |
| ONEIM ACQU | OIM | $3.0M | 297,803 | +0.38pp | 2q | +204.5%+$2.0M | |
| Iron Horse Acquisition II Corp | IRHO | $3.0M | 298,489 | - | new | NEW | |
| Infinite Eagle Acquisition Corp | IEAG | $2.8M | 275,000 | -0.06pp | 2q | HELD | |
| GORES HLDGS X INC | GTEN | $2.6M | 250,000 | -0.05pp | 2q | HELD | |
| JENA ACQUI | JENA | $2.6M | 250,000 | -0.05pp | 3q | HELD | |
| BLUEPORT ACQUISITION LTD | BPACU | $2.6M | 250,000 | -0.05pp | 3q | HELD | |
| Safeguard Acquisition Corp Unit 99/99/9999 | SACU | $2.6M | 250,000 | -0.05pp | 3q | HELD | |
| ALUSSA ENERGY ACQUISIT CORP | ALUBU | $2.6M | 250,000 | -0.06pp | 3q | HELD | |
| INVEST GREEN ACQUISITION COR | IGACU | $2.5M | 250,000 | -0.06pp | 3q | HELD | |
| Activate Energy Acquisition Unit 11/10/2030 | AEAQU | $2.5M | 250,000 | -0.06pp | 3q | HELD | |
| IRENIC ACQUISITION CORP | IACQU | $2.5M | 250,000 | - | new | NEW | |
| GSR IV ACQUISITION CORP C | GSRF | $2.5M | 250,000 | -0.05pp | 3q | HELD | |
| DYNAMIX CORP III | DNMXU | $2.5M | 250,000 | -0.06pp | 3q | HELD | |
| TAILWIND 2.0 ACQUISITION COR | TDWDU | $2.5M | 250,000 | -0.07pp | 3q | HELD | |
| LIGHTWAVE ACQUISITION CORP | LWACU | $2.5M | 245,500 | -0.06pp | 5q | HELD | |
| Hennessy Cap Invts Corp Viii Unit 02/02/2031 | HCICU | $2.5M | 250,000 | -0.06pp | 2q | HELD | |
| WESTIN ACQUISITION CORP | WSTNU | $2.5M | 250,000 | -0.07pp | 2q | HELD | |
| AVERIN CAP ACQUISITION CORP | ACAAU | $2.5M | 250,000 | -0.06pp | 2q | HELD | |
| IRIS ACQUISITION CORP II | IRAB | $2.5M | 250,000 | -0.05pp | 2q | HELD | |
| XSOLLA SPAC 1 | XSLLU | $2.4M | 235,000 | -0.05pp | 2q | HELD | |
| CHURCHILL CAP CORP XII | CXIIU | $2.2M | 200,000 | - | new | NEW | |
| HIGHVIEW MERGER CORP | HVMCU | $2.1M | 200,000 | -0.04pp | 4q | HELD | |
| CANTOR EQUITY PARTNERS VI IN | CEPS | $2.1M | 200,000 | -0.04pp | 2q | HELD | |
| BTC DEV CORP | BDCIU | $2.0M | 200,000 | -0.04pp | 4q | HELD | |
| INSIGHT DIGITAL PARTNERS II | DYORU | $2.0M | 200,000 | -0.05pp | 3q | HELD | |
| HALL CHADWICK ACQUISITION CO | HCAC | $2.0M | 200,000 | - | new | NEW | |
| YORKVILLE INTL CAP CORP | YICCU | $2.0M | 200,000 | - | new | NEW | |
| GSR V ACQUISITION CORP | GSRVU | $2.0M | 195,000 | - | new | NEW | |
| GESHER ACQUISITION CORP. II | GSHRU | $1.6M | 150,000 | -0.03pp | 6q | HELD | |
| GLOBA TERRA ACQUISITION COR | GTERU | $1.6M | 150,000 | -0.04pp | 4q | HELD | |
| CAL REDWOOD ACQUISITION CORP | CRAQU | $1.6M | 150,000 | -0.03pp | 5q | HELD | |
| INDIGO ACQUISITION CORP | INACU | $1.5M | 150,000 | -0.03pp | 4q | HELD | |
| LEAPFROG ACQUISITION CORP | LFACU | $1.5M | 150,000 | -0.04pp | 3q | HELD | |
| DRUGS MADE IN AMER ACQ II CO | DMII | $1.5M | 150,000 | -2.42pp | 3q | -87.8%-$10.9M | |
| OTG ACQUISITION CORP. I | OTGAU | $1.3M | 125,000 | -0.03pp | 4q | HELD | |
| M3BRIGADE ACQUISITION V CORP CL A | VLOS | $1.1M | 100,600 | -0.02pp | 8q | HELD | |
| NEW PROVID | NPAC | $1.0M | 100,000 | -0.82pp | 4q | -77.8%-$3.6M | |
| MCKINLEY ACQUISITION CORP | MKLYU | $1.0M | 100,000 | -0.02pp | 4q | HELD | |
| CSLM DIGITA ASSET ACQ CORP I | KOYNU | $1.0M | 100,000 | -0.02pp | 4q | HELD | |
| M EVO GBL ACQUISITION CORP I | MEVOU | $1.0M | 100,000 | -0.57pp | 2q | -71.4%-$2.6M | |
| OCEAN CAP ACQUISITION CORP | OCACU | $1.0M | 100,000 | - | new | NEW | |
| SC II ACQUISITION CORP | SCIIU | $1.0M | 100,000 | -0.03pp | 3q | HELD | |
| GIGCAPITAL9 CORP | GIXXU | $1.0M | 100,000 | -0.02pp | 2q | HELD | |
| PATRIOT ACQUISITION CORP | PTACU | $999.0K | 100,000 | - | new | NEW | |
| MOUNTAIN LAKE ACQUISIT CORP | MLAA | $993.0K | 100,000 | - | new | NEW | |
| WARNER BROS DISCOVERY INC | WBD | $666.5K | 25,000 | - | new | NEW | |
| ARTIUS II ACQUISITION INC | AACBR | $315.0K | 1,500,000 | -0.04pp | 4q | HELD | |
| SIDDHI ACQUISITION CORP | SDHIR | $302.5K | 1,250,000 | flat | 4q | HELD | |
| APOGEE THERAPEUTICS INC | APGE | $301.0K | 2,268 | - | new | NEW | |
| KRAKACQUISITION CORPORATION | KRAQ | $277.8K | 27,776 | - | new | NEW | |
| JACKSON ACQUISITION CO II COM SHS CL A | JACS | $266.0K | 25,000 | -0.01pp | 5q | HELD | |
| DAEDALUS SPL ACQUISITION COR | DSACU | $260.2K | 25,000 | flat | 3q | HELD | |
| Inflection Point Acquisition Corp VI | IPFX | $258.5K | 25,000 | - | new | NEW | |
| INFLECTION PT ACQUISITION CO | IPCXR | $215.7K | 479,341 | +0.01pp | 4q | +3.1%+$6.5K | |
| Pyrophyte Acquisition Corp II | PAIIWS | $212.5K | 425,000 | +0.01pp | 3q | HELD | |
| FIFTH ERA ACQUISITION CORP I | FERAR | $211.4K | 640,660 | - | new | NEW | |
| JACKSON ACQUISITION CO II | JACSRT | $199.6K | 1,425,700 | flat | 5q | HELD | |
| GSR IV ACQUISITION CORP | GSRFR | $180.8K | 75,000 | -0.01pp | 3q | HELD | |
| BIO TECHNE CORP | TECH | $176.6K | 2,500 | - | new | NEW | |
| PERIMETER ACQUISITION CORP I | PMTRW | $174.8K | 194,200 | flat | 3q | HELD | |
| HCM III Acquisition Corp | HCMAW | $173.3K | 266,666 | +0.01pp | 4q | HELD | |
| PENUMBRA INC | PEN | $168.6K | 534 | -0.01pp | 2q | HELD | |
| COLUMBUS ACQUISITION CORP | COLAR | $165.0K | 300,000 | +0.01pp | 3q | HELD | |
| Titan Acquisition Corp | TACHW | $143.0K | 200,000 | +0.02pp | 3q | +100.0%+$71.5K | |
| Berto Acquisition Corp | TACOW | $124.7K | 175,000 | +0.01pp | 5q | HELD | |
| Jena Acquisition Corp Ii Right 03/31/2030 | JENART | $119.0K | 700,000 | flat | 3q | HELD | |
| AMERICAN EXCEPTIONALISM ACQU | AEXA | $118.2K | 10,000 | flat | 4q | HELD | |
| BLUE ACQUISITION CORP. | BACCR | $117.0K | 150,000 | +0.01pp | 3q | HELD | |
| SILVER PEGASUS ACQUISITION C | SPEGR | $112.0K | 400,000 | - | new | NEW | |
| GORES HLDGS X INC | GTENW | $111.0K | 150,000 | flat | 4q | HELD | |
| AGRICULTURE & NAT SOL ACQ CO | ANSCW | $101.3K | 503,500 | flat | 10q | HELD | |
| THAYER VENTURES ACQ CORP II | TVAIR | $99.8K | 525,000 | flat | 2q | HELD | |
| Drugs Made In Amer Acq Ii Co Right 09/16/2030 | DMIIR | $98.5K | 1,230,980 | flat | 3q | HELD | |
| Launchpad Cadenza Acquisition Corp I | LPCVW | $94.2K | 241,666 | - | new | NEW | |
| K&F Growth Acquisition Corp Right 08/29/2031 | KFIIR | $93.9K | 750,000 | -0.01pp | 2q | HELD | |
| Republic Digital Acquisition Co | RDAGW | $88.8K | 221,967 | flat | 2q | HELD | |
| IRON HORSE ACQUISIT II CORP | IRHOR | $84.2K | 523,489 | - | new | NEW | |
| Wen Acquisition Corp | WENNW | $79.7K | 225,000 | flat | 4q | HELD | |
| GENERAL CATALYST GBL RESIL M | GCGRW | $73.3K | 74,839 | - | new | NEW | |
| Sizzle Acquisition Corp. Ii Right 04/02/2030 | SZZLR | $73.2K | 450,539 | -0.01pp | 4q | -30.7%-$32.5K | |
| Factorial Energy Inc | FACWW | $70.1K | 51,531 | - | new | NEW | |
| Gigcapital8 Corp Right 09/30/2030 | GIWWR | $65.0K | 250,000 | - | new | NEW | |
| RIBBON ACQUISITION CORP | RIBBR | $65.0K | 250,000 | flat | 4q | HELD | |
| HARVARD AVE ACQUISITION CORP | HAVAR | $60.0K | 375,000 | - | new | NEW | |
| Crown Resv Acquisition Corp Right 10/06/2030 | CRACR | $60.0K | 375,000 | flat | 3q | HELD | |
| QUANTUMSPHERE ACQUISITION CO | QUMSR | $59.7K | 300,000 | flat | 3q | HELD | |
| Hall Chadwick Acquisition Co Right 11/20/2030 | HCACR | $58.0K | 200,000 | - | new | NEW | |
| BAIN CAP GSS INVT CORP | BCSSWS | $54.4K | 80,000 | flat | 2q | HELD | |
| Infinite Eagle Acquisition C Right 01/13/2031 | IEAGR | $53.7K | 275,000 | flat | 2q | HELD | |
| TEXAS VENTURES ACQUISITION I | TVACW | $53.0K | 100,000 | flat | 4q | HELD | |
| MOZAYYX ACQUISITION CORP | MZYXWS | $51.4K | 73,141 | - | new | NEW | |
| PANTAGES CAPITAL ACQUISITION | PGACR | $51.0K | 250,000 | flat | 4q | HELD | |
| LAKESHORE ACQUISITION III CO | LCCCR | $50.0K | 250,000 | - | new | NEW | |
| LAKE SUPERIOR ACQUISITION CO | LKSPR | $48.0K | 45,714 | flat | 2q | HELD | |
| SOULPOWER ACQUISITION CORP | SOULRT | $47.0K | 403,161 | -0.01pp | 4q | HELD | |
| Egh Acquisition Corp. Right 99/99/9999 | EGHAR | $46.9K | 125,000 | flat | 2q | HELD | |
| TEXASVENTURESACQUISITIONI | TVA | $41.4K | 3,925 | flat | 4q | HELD | |
| YORKVILLE ACQUISITION CORP. | MCGA | $39.3K | 3,852 | flat | 4q | HELD | |
| BLUE WTR ACQUISITION CORP. I | BLUWW | $38.0K | 100,000 | flat | 4q | HELD | |
| YHN ACQUISITION I LTD | YHNAR | $37.9K | 344,188 | flat | 4q | HELD | |
| Axiom Intelligence Ac Corp 1 Right 06/10/2030 | AXINR | $37.6K | 100,000 | -0.01pp | 2q | -71.4%-$94.1K | |
| Iris Acquisition Corp II | IRABWS | $31.2K | 125,000 | flat | 2q | HELD | |
| NEW PROVIDENCE ACQUISITION C | NPACW | $27.0K | 96,500 | flat | 4q | HELD | |
| 1RT Acquisition Corp | ONCHW | $25.4K | 50,000 | flat | 2q | HELD | |
| MOUNTAIN LAKE ACQUISIT CORP | MLAAW | $23.9K | 88,352 | - | new | NEW | |
| Miluna Acquisition Corp | MMTXW | $22.8K | 175,000 | - | new | NEW | |
| Uy Scuti Acquisition Corp. Right 03/03/2030 | UYSCR | $21.0K | 150,000 | flat | 4q | HELD | |
| RF Acquisition Corp II | RFAIR | $20.0K | 200,000 | flat | 3q | HELD | |
| Melar Acquisition Corp I | MACIW | $19.7K | 150,528 | flat | 4q | HELD | |
| AVERIN CAP ACQUISITION CORP | ACAAW | $17.5K | 27,173 | - | new | NEW | |
| Black Hawk Acquisition Corp | BKHAR | $15.4K | 10,000 | flat | 5q | HELD | |
| CAL REDWOOD ACQUISITION CORP | CRAQR | $15.4K | 66,869 | flat | 4q | HELD | |
| BAYVIEW ACQUISITION CORP | BAYAR | $14.1K | 150,000 | flat | 11q | HELD | |
| Copley Acquisition Corp | COPLWS | $10.7K | 125,000 | - | new | NEW | |
| American Drive Acquisition Co | ADACW | $7.6K | 12,137 | flat | 2q | HELD | |
| Yorkville Acquisition Corp | MCGAW | $2.1K | 8,333 | flat | 4q | HELD | |
| MKDWELL TECH INC | MKDWW | $2.0K | 175,000 | flat | 8q | HELD | |
| Flag Ship Acquisition Corp Right 03/31/2026 | FSHPR | $1.9K | 27,000 | flat | 4q | HELD | |
| CH4 Natural Solutions Corp | MTNEWS | $429 | 1,300 | - | new | NEW | |
| CID HOLDCO INC | DAICW | $308 | 25,000 | flat | 5q | HELD | |
| GCL GLOBAL HLDGS LTD | GCLWW | $99 | 4,500 | flat | 6q | HELD | |
| LIMINATUS PHARMA INC. | LIMNW | $94 | 1,250 | flat | 5q | HELD | |
| INFLECTION PT ACQUISIT CORP | IPFXW | $56 | 30 | - | new | NEW | |
| Waldencast plc CW27 | WALDW | $31 | 666 | flat | 2q | HELD | |
| Titan Acquisition Corp | TACH | $0 | none filed | -0.11pp | 3q | -100.0% | |
| DISTOKEN ACQUISITION CORP | $0 | 125,000 | 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 |
|---|---|---|
| Holding & Investment | $404.3M | 79.8% |
| Other sectors | $9.2M | 1.8% |
| Not classified | $93.0M | 18.4% |
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 | +1.6% | +14.8% | -13.2% | 95% |
| Q1 2026 | +0.4% | -4.6% | +5.0% | 92% |
| Q4 2025 | +0.6% | +2.4% | -1.7% | 93% |
| Q3 2025 | +0.9% | +7.8% | -6.9% | 87% |
| Q2 2025 | +4.1% | +10.5% | -6.3% | 87% |
| Q1 2025 | +1.7% | -4.6% | +6.3% | 98% |
| Q4 2024 | +3.5% | +2.1% | +1.3% | 94% |
| Q3 2024 | +1.4% | +5.4% | -4.0% | 84% |
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 | $506.6M | 184 | 49 | 7 | 7 | 35 | 23.7% | 45 |
| Q1 2026 | $451.4M | 170 | 44 | 4 | 12 | 34 | 26.2% | 45 |
| Q4 2025 | $471.7M | 160 | 61 | 4 | 20 | 24 | 26.7% | 48 |
| Q3 2025 | $410.5M | 123 | 64 | 2 | 8 | 41 | 33.3% | 45 |
| Q2 2025 | $359.9M | 100 | 47 | 1 | 13 | 23 | 39.1% | 45 |
| Q1 2025 | $280.9M | 76 | 24 | 1 | 4 | 16 | 59.7% | 45 |
| Q4 2024 | $233.5M | 68 | 8 | 2 | 5 | 45 | 73.8% | 45 |
| Q3 2024 | $242.8M | 105 | 24 | 3 | 4 | 22 | 64.8% | 45 |
| Q2 2024 | $217.4M | 103 | 23 | 0 | 79 | 14 | 69.6% | 45 |
| Q1 2024 | $560.6M | 94 | 21 | 69 | 2 | 25 | 73.8% | 45 |
| Q4 2023 | $344.6M | 98 | 38 | 5 | 2 | 79 | 66.9% | 45 |
| Q3 2023 | $305.7M | 139 | 19 | 2 | 5 | 39 | 63.8% | 45 |
| Q2 2023 | $277.1M | 159 | 23 | 0 | 135 | 93 | 56.8% | 45 |
| Q1 2023 | $975.1M | 229 | 66 | 159 | 4 | 154 | 30.9% | 45 |
| Q4 2022 | $971.1M | 317 | 145 | 37 | 9 | 200 | 20.8% | 45 |
| Q3 2022 | $1.5B | 372 | 38 | 7 | 287 | 84 | 25.5% | 45 |
| Q2 2022 | $3.3B | 418 | 53 | 326 | 0 | 0 | 23.5% | 46 |
| Q1 2022 | $1.7B | 365 | 75 | 28 | 35 | 64 | 23.9% | 46 |
| Q4 2021 | $1.6B | 354 | 127 | 25 | 27 | 60 | 21.7% | 45 |
| Q3 2021 | $1.4B | 287 | 76 | 21 | 18 | 63 | 24.6% | 46 |
| Q2 2021 | $1.4B | 274 | 77 | 25 | 53 | 83 | 28.2% | 47 |
| Q1 2021 | $1.3B | 280 | 211 | 14 | 25 | 114 | 22.8% | 47 |
| Q4 2020 | $956.9M | 183 | 110 | 4 | 29 | 70 | 26.7% | 47 |
| Q3 2020 | $903.3M | 143 | 63 | 9 | 19 | 46 | 37.5% | 47 |
| Q2 2020 | $701.6M | 126 | 49 | 12 | 26 | 34 | 52.7% | 45 |
| Q1 2020 | $578.0M | 111 | 33 | 13 | 32 | 25 | 55.6% | 69 |
| Q4 2019 | $581.7M | 103 | 26 | 14 | 20 | 56 | 43.3% | 45 |
| Q3 2019 | $550.5M | 133 | 25 | 13 | 22 | 27 | 42.8% | 44 |
| Q2 2019 | $510.3M | 135 | 32 | 11 | 28 | 33 | 41.2% | 45 |
| Q1 2019 | $430.4M | 136 | 36 | 16 | 25 | 22 | 38.3% | 44 |
| Q4 2018 | $413.5M | 122 | 0 | 0 | 0 | 0 | 41.2% | 44 |
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.