DaveManuel.com · Institutional Ownership · 13F Holdings
White Lighthouse Investment Management 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 | VUG | $146.2M | 1,622,517 | +1.05pp | 32q | +5.1%+$7.0M | |
| iShares Tr | SHV | $66.2M | 600,216 | -0.36pp | 32q | -1.1%-$709.4K | |
| VANGUARD STAR FDS | VXUS | $56.2M | 661,686 | -0.05pp | 32q | +3.2%+$1.8M | |
| VANGUARD WHITEHALL FDS | VYM | $51.1M | 329,432 | -0.56pp | 32q | -3.6%-$1.9M | |
| SCHWAB STRATEGIC TR | SCHD | $34.4M | 1,056,150 | +0.84pp | 26q | +26.4%+$7.2M | |
| VANGUARD SCOTTSDALE FDS | VCSH | $32.2M | 416,816 | +0.03pp | 32q | +6.7%+$2.0M | |
| VANGUARD WORLD FD | VGT | $31.0M | 246,375 | -0.04pp | 32q | -2.6%-$836.1K | |
| VANGUARD INDEX FDS | VTV | $30.6M | 141,470 | +0.18pp | 32q | +9.7%+$2.7M | |
| VANGUARD BD INDEX FDS | BND | $27.0M | 384,814 | -0.35pp | 32q | -2.4%-$662.2K | |
| ISHARES TR | IGM | $22.4M | 132,563 | +0.08pp | 32q | +2.9%+$632.0K | |
| ISHARES TR | IXUS | $17.4M | 182,819 | -0.08pp | 32q | HELD | |
| ISHARES GOLD TR | IAU | $16.1M | 206,769 | +0.10pp | 11q | +5.5%+$836.0K | |
| VANGUARD INDEX FDS | VOO | $13.1M | 18,755 | flat | 32q | +1.6%+$202.6K | |
| VANGUARD SCOTTSDALE FDS | VCIT | $12.6M | 160,687 | -0.22pp | 32q | -4.6%-$606.2K | |
| VANGUARD SPECIALIZED FUNDS | VIG | $12.2M | 52,124 | -0.07pp | 32q | HELD | |
| SPDR SERIES TRUST | BIL | $12.1M | 131,600 | +0.32pp | 9q | +32.9%+$3.0M | |
| ISHARES TR | DVY | $11.3M | 74,390 | flat | 32q | +6.2%+$663.3K | |
| ISHARES TR | IWF | $11.0M | 87,581 | -0.03pp | 32q | HELD | |
| VANGUARD BD INDEX FDS | BSV | $9.7M | 127,416 | -0.04pp | 32q | +2.1%+$203.8K | |
| VANGUARD MALVERN FDS | VTIP | $9.5M | 192,767 | +0.02pp | 32q | +7.7%+$675.1K | |
| VANGUARD INDEX FDS | VBR | $8.6M | 37,279 | -0.07pp | 32q | +1.7%+$147.4K | |
| VANGUARD WORLD FD | VHT | $8.0M | 25,309 | +0.08pp | 32q | +6.5%+$490.2K | |
| VANGUARD INDEX FDS | VB | $7.7M | 27,098 | -0.08pp | 32q | +1.8%+$137.4K | |
| APPLE INC | AAPL | $7.2M | 21,641 | +0.09pp | 32q | HELD | |
| INVESCO QQQ TR | QQQ | $7.1M | 9,645 | -0.04pp | 19q | -2.0%-$142.0K | |
| VANGUARD WORLD FD | VSGX | $6.5M | 80,478 | -0.03pp | 29q | +0.6%+$37.4K | |
| VANGUARD WORLD FD | ESGV | $6.4M | 47,150 | flat | 30q | HELD | |
| VANGUARD INDEX FDS | VO | $6.1M | 77,592 | +0.01pp | 32q | +7.9%+$444.8K | |
| VANGUARD INDEX FDS | VTI | $5.1M | 13,710 | flat | 32q | +1.7%+$85.7K | |
| VANGUARD INDEX FDS | VNQ | $5.1M | 56,733 | -0.04pp | 32q | +4.4%+$216.5K | |
| VANGUARD SCOTTSDALE FDS | VGSH | $4.6M | 79,586 | -0.04pp | 29q | -1.9%-$87.2K | |
| MICROSOFT CORP | MSFT | $4.2M | 8,238 | +0.14pp | 32q | +2.8%+$114.9K | |
| VANGUARD INDEX FDS | VOT | $4.2M | 14,257 | -0.02pp | 32q | +4.9%+$196.0K | |
| ISHARES TR | IUSB | $4.1M | 93,479 | -0.05pp | 18q | -0.9%-$37.5K | |
| ALPHABET INC | GOOG | $3.9M | 11,551 | -0.05pp | 14q | -3.4%-$137.0K | |
| VANGUARD INDEX FDS | VOE | $3.8M | 19,526 | -0.01pp | 32q | +2.6%+$95.2K | |
| VANGUARD BD INDEX FDS | BIV | $3.6M | 49,635 | -0.03pp | 32q | +1.5%+$51.9K | |
| VANGUARD WORLD FD | VPU | $3.3M | 19,476 | -0.03pp | 25q | +10.6%+$319.1K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $3.3M | 4,330 | -0.02pp | 32q | -4.5%-$154.8K | |
| ALPHABET INC | GOOGL | $3.1M | 9,146 | -0.01pp | 30q | +3.4%+$102.5K | |
| ISHARES TR | ESGU | $2.9M | 17,458 | flat | 27q | HELD | |
| AMAZON COM INC | AMZN | $2.7M | 10,907 | +0.01pp | 30q | +1.1%+$30.6K | |
| ISHARES TR | MUB | $2.7M | 26,339 | -0.03pp | 32q | HELD | |
| PHILIP MORRIS INTL INC | PM | $2.5M | 13,359 | +0.12pp | 32q | +56.6%+$921.1K | |
| SCHWAB STRATEGIC TR | SCHP | $2.5M | 100,544 | -0.02pp | 32q | +1.4%+$34.4K | |
| SPDR GOLD TR | GLD | $2.4M | 6,301 | flat | 32q | HELD | |
| ISHARES TR | IUSG | $2.4M | 12,273 | flat | 32q | HELD | |
| VANGUARD INTL EQUITY INDEX F | VWO | $2.3M | 39,563 | -0.03pp | 32q | -6.8%-$171.3K | |
| ASTRAZENECA PLC | AZN | $2.2M | 13,460 | -0.09pp | 2q | -9.0%-$214.8K | |
| VANGUARD INTL EQUITY INDEX F | VGK | $2.1M | 24,591 | -0.01pp | 32q | +1.1%+$24.2K | |
| ISHARES TR | IJT | $2.0M | 12,559 | -0.04pp | 32q | HELD | |
| ISHARES TR | DSI | $1.9M | 13,162 | flat | 30q | -0.7%-$13.9K | |
| ISHARES TR | IBB | $1.9M | 9,060 | +0.02pp | 32q | HELD | |
| ISHARES TR | ESGD | $1.9M | 18,216 | flat | 30q | +1.0%+$18.7K | |
| CATERPILLAR INC | CAT | $1.8M | 2,267 | -0.08pp | 32q | HELD | |
| VANGUARD INTL EQUITY INDEX F | VEU | $1.8M | 21,945 | -0.01pp | 32q | +1.0%+$17.6K | |
| ISHARES TR | IVV | $1.8M | 2,317 | flat | 27q | HELD | |
| VANGUARD TAX-MANAGED FDS | VEA | $1.7M | 24,339 | -0.01pp | 32q | HELD | |
| ISHARES TR | IXJ | $1.6M | 16,125 | flat | 32q | HELD | |
| VANGUARD WORLD FD | VOX | $1.6M | 8,552 | +0.01pp | 17q | +3.9%+$61.6K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $1.6M | 3,115 | -0.02pp | 32q | -8.0%-$135.4K | |
| ISHARES TR | SUB | $1.5M | 14,500 | -0.01pp | 32q | HELD | |
| SELECT SECTOR SPDR TR | XLK | $1.5M | 7,679 | -0.07pp | 17q | -26.8%-$551.0K | |
| WALMART INC | WMT | $1.5M | 14,358 | -0.02pp | 32q | +2.5%+$36.2K | |
| JOHNSON & JOHNSON | JNJ | $1.4M | 5,320 | -0.03pp | 32q | -15.6%-$259.5K | |
| ISHARES TR | IGSB | $1.4M | 27,085 | +0.05pp | 16q | +51.9%+$474.4K | |
| VANGUARD WHITEHALL FDS | VWOB | $1.4M | 21,901 | flat | 32q | +11.8%+$145.4K | |
| ISHARES TR | SOXX | $1.4M | 2,414 | -0.04pp | 14q | -4.4%-$63.1K | |
| ELI LILLY & CO | LLY | $1.4M | 1,169 | -0.01pp | 3q | HELD | |
| ISHARES TR | EMB | $1.3M | 14,825 | -0.01pp | 32q | +4.9%+$63.4K | |
| SPDR SERIES TRUST | JNK | $1.3M | 14,204 | -0.01pp | 13q | +2.2%+$27.9K | |
| VANGUARD WORLD FD | VFH | $1.3M | 9,868 | +0.04pp | 18q | +38.5%+$357.1K | |
| ETFS GOLD TR | SGOL | $1.3M | 31,892 | +0.01pp | 23q | +3.9%+$47.9K | |
| NVIDIA CORPORATION | NVDA | $1.2M | 5,304 | +0.01pp | 8q | +0.9%+$10.5K | |
| ISHARES TR | HYG | $1.2M | 15,489 | flat | 9q | +3.6%+$41.5K | |
| VANGUARD WORLD FD | VCR | $1.2M | 3,232 | -0.06pp | 17q | -19.0%-$276.4K | |
| VANGUARD MUN BD FDS | VTEB | $1.2M | 24,677 | -0.01pp | 32q | HELD | |
| AMGEN INC | AMGN | $1.2M | 2,735 | +0.02pp | 30q | +3.9%+$43.0K | |
| NUSHARES ETF TR | NULG | $1.2M | 10,131 | -0.01pp | 22q | -2.6%-$30.7K | |
| ISHARES TR | QUAL | $1.1M | 4,915 | flat | 32q | +3.7%+$39.1K | |
| ISHARES TR | SUSC | $948.7K | 43,233 | -0.02pp | 5q | -6.8%-$69.2K | |
| ISHARES TR | IJR | $926.7K | 6,812 | -0.02pp | 27q | -1.8%-$17.1K | |
| NUSHARES ETF TR | NUSC | $872.6K | 17,983 | flat | 24q | +6.5%+$53.0K | |
| MARRIOTT INTL INC NEW | MAR | $830.5K | 2,335 | -0.01pp | 8q | HELD | |
| ISHARES INC | ESGE | $827.1K | 15,272 | flat | 32q | +0.5%+$4.3K | |
| INTUITIVE SURGICAL INC | ISRG | $819.4K | 2,015 | - | new | NEW | |
| VANECK ETF TRUST | GDX | $730.2K | 8,317 | flat | 32q | -7.3%-$57.9K | |
| JPMORGAN CHASE & CO | JPM | $722.7K | 2,184 | flat | 12q | HELD | |
| CISCO SYS INC | CSCO | $718.2K | 6,673 | -0.01pp | 32q | +1.5%+$10.8K | |
| ISHARES TR | ICF | $712.3K | 11,324 | -0.02pp | 32q | -6.3%-$47.8K | |
| AFFIRM HLDGS INC | AFRM | $688.5K | 9,945 | -0.01pp | 12q | +8.8%+$55.7K | |
| VANGUARD INTL EQUITY INDEX F | VPL | $679.6K | 5,869 | flat | 32q | HELD | |
| SCHWAB STRATEGIC TR | SCHG | $674.1K | 18,763 | flat | 16q | +0.7%+$4.7K | |
| VANGUARD SCOTTSDALE FDS | VCLT | $668.3K | 9,756 | -0.01pp | 32q | HELD | |
| ASML HLDG NV | ASML | $659.4K | 364 | -0.01pp | 10q | HELD | |
| VANGUARD CHARLOTTE FDS | BNDX | $641.9K | 13,694 | +0.01pp | 16q | +18.1%+$98.4K | |
| ISHARES TR | EFA | $629.4K | 6,058 | flat | 6q | HELD | |
| MERCK & CO INC | MRK | $629.4K | 4,331 | +0.01pp | 26q | HELD | |
| ALTRIA GROUP INC | MO | $619.8K | 9,204 | -0.01pp | 9q | HELD | |
| UNITEDHEALTH GROUP INC | UNH | $619.0K | 1,686 | -0.01pp | 13q | HELD | |
| EDWARDS LIFESCIENCES CORP | EW | $613.5K | 7,107 | -0.01pp | 32q | HELD | |
| VANGUARD INDEX FDS | VV | $540.0K | 1,535 | -0.01pp | 19q | -13.7%-$85.8K | |
| VANGUARD WORLD FD | MGK | $537.6K | 5,803 | flat | 32q | -0.6%-$3.4K | |
| BROADCOM INC | AVGO | $533.3K | 1,519 | -0.01pp | 10q | -3.1%-$16.9K | |
| SOUTHERN CO | SO | $524.7K | 6,330 | -0.01pp | 32q | HELD | |
| ISHARES TR | MTUM | $514.7K | 1,622 | -0.01pp | 32q | -0.7%-$3.5K | |
| EXXONMOBIL HOLDINGS CORP | XOM | $508.3K | 3,123 | - | new | NEW | |
| ANNALY CAPITAL MANAGEMENT IN | NLY | $504.9K | 26,728 | -0.01pp | 10q | +4.9%+$23.4K | |
| BRITISH AMERN TOB PLC | BTI | $494.2K | 9,084 | -0.01pp | 9q | HELD | |
| ISHARES TR | ICSH | $478.8K | 9,500 | flat | 32q | HELD | |
| SCHWAB STRATEGIC TR | SCHI | $467.9K | 21,822 | - | new | NEW | |
| PALO ALTO NETWORKS INC | PANW | $467.2K | 1,176 | flat | 10q | -4.3%-$21.1K | |
| ISHARES TR | AGG | $430.5K | 4,554 | flat | 13q | HELD | |
| VANGUARD INTL EQUITY INDEX F | VT | $422.3K | 2,675 | +0.02pp | 2q | +67.9%+$170.8K | |
| VANGUARD SCOTTSDALE FDS | VONG | $417.9K | 3,241 | flat | 10q | +1.6%+$6.4K | |
| VANGUARD WORLD FD | VCEB | $416.1K | 6,984 | flat | 9q | +5.1%+$20.1K | |
| ISHARES TR | ICLN | $401.5K | 23,617 | -0.01pp | 31q | HELD | |
| ISHARES INC | IEMG | $392.1K | 4,831 | flat | 4q | +3.6%+$13.6K | |
| CHEVRON CORPORATION | CVX | $376.6K | 1,844 | +0.02pp | 9q | +30.0%+$86.8K | |
| ISHARES TR | IWP | $372.3K | 2,704 | flat | 26q | HELD | |
| ORACLE CORP | ORCL | $362.3K | 2,639 | flat | 2q | +1.0%+$3.6K | |
| SCHWAB STRATEGIC TR | SCHC | $357.2K | 7,182 | flat | 16q | +0.7%+$2.6K | |
| ISHARES BITCOIN TRUST ETF | IBIT | $348.7K | 7,365 | - | new | NEW | |
| SPDR SERIES TRUST | SPYG | $321.5K | 2,612 | flat | 8q | HELD | |
| SCHWAB STRATEGIC TR | SCHF | $313.4K | 11,408 | flat | 17q | +4.3%+$13.0K | |
| DEERE CO | DE | $312.3K | 465 | flat | 7q | HELD | |
| VANGUARD INDEX FDS | VBK | $305.3K | 904 | -0.01pp | 6q | -8.2%-$27.4K | |
| MEDTRONIC PLC | MDT | $292.5K | 3,390 | +0.01pp | 32q | +25.9%+$60.2K | |
| HOME DEPOT INC | HD | $291.5K | 1,024 | -0.01pp | 8q | +2.0%+$5.7K | |
| LOCKHEED MARTIN CORP | LMT | $289.8K | 569 | flat | 16q | HELD | |
| ISHARES TR | IWM | $269.0K | 968 | -0.01pp | 3q | -3.9%-$10.8K | |
| EXPEDIA GROUP INC | EXPE | $268.1K | 1,018 | flat | 2q | HELD | |
| ADVANCED MICRO DEVICES INC | AMD | $266.7K | 436 | flat | 2q | -3.3%-$9.2K | |
| UNION PAC CORP | UNP | $263.1K | 967 | -0.01pp | 7q | -12.3%-$36.7K | |
| SPDR SERIES TRUST | SHE | $261.4K | 1,660 | flat | 4q | HELD | |
| INVESCO ACTVELY MNGD ETC FD | PDBC | $259.5K | 13,445 | flat | 7q | HELD | |
| VANGUARD WHITEHALL FDS | VYMI | $257.0K | 2,541 | flat | 5q | +1.4%+$3.6K | |
| COSTCO WHOLESALE CORPORATION | COST | $257.0K | 282 | flat | 9q | -3.1%-$8.2K | |
| STARBUCKS CORP | SBUX | $249.3K | 2,654 | flat | 2q | +34.2%+$63.6K | |
| ISHARES TR | IBTH | $244.4K | 10,949 | - | new | NEW | |
| PEPSICO INC | PEP | $241.0K | 1,902 | flat | 32q | -0.8%-$2.0K | |
| SPDR SERIES TRUST | SPYV | $237.4K | 3,883 | flat | 5q | HELD | |
| S&P GLOBAL INC | SPGI | $234.7K | 595 | flat | 8q | HELD | |
| SCHWAB STRATEGIC TR | SCHX | $230.2K | 7,673 | - | new | NEW | |
| ISHARES TR | SUSA | $214.7K | 1,379 | flat | 2q | HELD | |
| QUALCOMM INC | QCOM | $210.4K | 1,143 | flat | 2q | HELD | |
| PROCTER & GAMBLE CO | PG | $205.8K | 1,416 | -0.04pp | 32q | -57.7%-$280.2K | |
| GOLDMAN SACHS ETF TR | GSLC | $201.9K | 1,392 | - | 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 |
|---|---|---|
| Capital Markets | $20.2M | 2.4% |
| Other sectors | $53.3M | 6.4% |
| Not classified | $755.7M | 91.1% |
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 | +9.9% | +14.8% | -5.0% | 100% |
| Q1 2026 | -1.5% | -4.6% | +3.1% | 100% |
| Q4 2025 | +1.9% | +2.4% | -0.5% | 100% |
| Q3 2025 | +6.4% | +7.8% | -1.4% | 100% |
| Q2 2025 | +7.5% | +10.5% | -2.9% | 100% |
| Q1 2025 | -1.7% | -4.6% | +2.8% | 100% |
| Q4 2024 | -0.3% | +2.1% | -2.5% | 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 | $829.2M | 148 | 7 | 62 | 35 | 10 | 60.0% | 21 |
| Q2 2026 | $802.3M | 151 | 11 | 50 | 60 | 5 | 59.1% | 36 |
| Q1 2026 | $720.8M | 145 | 4 | 60 | 45 | 9 | 57.9% | 45 |
| Q4 2025 | $716.4M | 150 | 12 | 81 | 37 | 1 | 58.9% | 40 |
| Q3 2025 | $656.0M | 139 | 4 | 45 | 69 | 3 | 59.5% | 44 |
| Q2 2025 | $614.8M | 138 | 8 | 56 | 40 | 3 | 58.8% | 30 |
| Q1 2025 | $560.0M | 133 | 5 | 45 | 62 | 5 | 58.4% | 42 |
| Q4 2024 | $569.2M | 133 | 7 | 48 | 45 | 5 | 57.7% | 35 |
| Q3 2024 | $557.4M | 131 | 12 | 44 | 37 | 2 | 57.0% | 30 |
| Q2 2024 | $518.3M | 121 | 6 | 46 | 35 | 5 | 57.4% | 15 |
| Q1 2024 | $492.3M | 120 | 2 | 36 | 42 | 3 | 56.0% | 37 |
| Q4 2023 | $456.9M | 121 | 6 | 38 | 46 | 3 | 55.3% | 23 |
| Q3 2023 | $411.9M | 118 | 4 | 46 | 31 | 1 | 54.5% | 18 |
| Q2 2023 | $418.9M | 115 | 3 | 30 | 40 | 1 | 54.6% | 38 |
| Q1 2023 | $396.9M | 113 | 1 | 40 | 37 | 2 | 54.1% | 20 |
| Q4 2022 | $368.0M | 114 | 10 | 31 | 46 | 1 | 53.4% | 24 |
| Q3 2022 | $343.4M | 105 | 4 | 46 | 24 | 7 | 54.5% | 18 |
| Q2 2022 | $349.5M | 108 | 4 | 33 | 42 | 11 | 53.7% | 20 |
| Q1 2022 | $393.2M | 115 | 6 | 31 | 44 | 5 | 52.9% | 20 |
| Q4 2021 | $401.3M | 114 | 3 | 51 | 21 | 4 | 53.1% | 12 |
| Q3 2021 | $372.7M | 115 | 4 | 47 | 33 | 9 | 52.3% | 20 |
| Q2 2021 | $365.0M | 120 | 8 | 49 | 37 | 3 | 51.2% | 26 |
| Q1 2021 | $326.8M | 115 | 4 | 42 | 47 | 2 | 51.8% | 37 |
| Q4 2020 | $313.4M | 113 | 7 | 24 | 51 | 6 | 49.1% | 34 |
| Q3 2020 | $288.8M | 112 | 4 | 23 | 52 | 2 | 47.6% | 15 |
| Q2 2020 | $272.3M | 110 | 8 | 24 | 62 | 6 | 45.7% | 23 |
| Q1 2020 | $238.9M | 108 | 4 | 52 | 29 | 27 | 45.0% | 7 |
| Q4 2019 | $272.7M | 131 | 6 | 56 | 36 | 5 | 45.0% | 24 |
| Q3 2019 | $248.5M | 130 | 5 | 54 | 31 | 1 | 44.5% | 44 |
| Q2 2019 | $239.6M | 126 | 13 | 48 | 38 | 10 | 45.0% | 31 |
| Q1 2019 | $217.8M | 123 | 17 | 44 | 48 | 3 | 44.3% | 38 |
| Q4 2018 | $182.0M | 109 | 0 | 0 | 0 | 0 | 44.5% | 23 |
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.