DaveManuel.com · Institutional Ownership · 13F Holdings

Ellsworth Advisors, LLC

Reported holdings as of Q3 2026, from 26 quarterly filings.

CIK

1843553

Reported value

$620.1M

Positions

193

Top 10 weight

24.0%

Filed

2026-10-15

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
HARBOR ETF TRUST	HGER	$23.8M	675,656	3.84%	+0.47pp	11q	+4.6%+$1.0M
NVIDIA CORPORATION	NVDA	$18.0M	78,799	2.90%	+0.18pp	26q	+1.0%+$180.6K
SPDR GOLD TR	GLD	$17.8M	46,795	2.87%	+0.02pp	26q	HELD
FIRST TR EXCHANGE-TRADED FD	FTSM	$14.6M	245,440	2.36%	+0.04pp	26q	+4.1%+$580.1K
MICROSOFT CORP	MSFT	$13.6M	26,580	2.20%	+0.52pp	12q	+2.7%+$360.1K
APPLE INC	AAPL	$13.3M	39,990	2.15%	-0.36pp	26q	-14.2%-$2.2M
JOHNSON & JOHNSON	JNJ	$13.1M	49,531	2.11%	+0.12pp	26q	+1.0%+$128.7K
ADVANCED MICRO DEVICES INC	AMD	$12.9M	21,106	2.08%	+0.13pp	6q	-5.9%-$810.6K
BROADCOM INC	AVGO	$10.9M	31,112	1.76%	-0.21pp	8q	+2.2%+$233.2K
EATON CORP PLC	ETN	$10.7M	25,003	1.73%	+0.07pp	26q	+1.7%+$180.9K
ALPHABET INC	GOOG	$10.4M	30,603	1.68%	-0.19pp	10q	HELD
CHEVRON CORPORATION	CVX	$10.3M	50,269	1.66%	+0.20pp	9q	+2.7%+$271.6K
CISCO SYS INC	CSCO	$10.1M	93,390	1.62%	-0.09pp	26q	HELD
ENTERPRISE PRODS PARTNERS L	EPD	$10.0M	279,836	1.61%	-0.06pp	16q	+3.5%+$332.4K
AMGEN INC	AMGN	$9.6M	22,754	1.55%	+0.23pp	7q	+1.9%+$179.1K
BERKSHIRE HATHAWAY INC DEL	BRKB	$8.7M	17,427	1.40%	+0.01pp	26q	+0.6%+$50.3K
GOLDMAN SACHS GROUP INC	GS	$8.6M	9,578	1.39%	-0.41pp	6q	HELD
AMAZON COM INC	AMZN	$8.3M	33,498	1.35%	+0.02pp	11q	+5.7%+$450.0K
PACKAGING CORP AMER	PKG	$8.3M	36,313	1.34%	+0.01pp	16q	+2.0%+$164.4K
US BANCORP	USB	$8.2M	142,772	1.33%	-0.11pp	15q	+2.4%+$196.2K
BRISTOL-MYERS SQUIBB CO	BMY	$8.1M	130,334	1.31%	+0.10pp	6q	+3.8%+$299.6K
PETROLEO BRASILEIRO S A	PBR	$8.0M	381,919	1.29%	+0.17pp	4q	+0.5%+$40.7K
WESTERN MIDSTREAM PARTNERS L	WES	$8.0M	179,385	1.28%	flat	6q	+4.0%+$308.6K
PEPSICO INC	PEP	$7.9M	62,725	1.28%	-0.03pp	26q	+6.7%+$500.0K
PNC FINL SVCS GROUP INC	PNC	$7.9M	35,759	1.28%	-0.16pp	7q	+3.3%+$257.4K
AMERICAN ELEC PWR CO INC	AEP	$7.6M	64,128	1.23%	-0.10pp	8q	+5.1%+$366.1K
EMCOR GROUP INC	EME	$7.5M	9,895	1.20%	-	new	NEW
ALTRIA GROUP INC	MO	$7.4M	110,502	1.20%	-0.29pp	12q	-14.3%-$1.2M
DARDEN RESTAURANTS INC	DRI	$7.3M	37,992	1.18%	+0.01pp	8q	+4.2%+$298.8K
UNIVERSAL HLTH SVCS INC	UHS	$7.0M	40,364	1.13%	-	new	NEW
DUKE ENERGY CORP NEW	DUK	$7.0M	61,618	1.13%	-0.05pp	8q	+6.2%+$410.4K
PUBLIC STORAGE	PSA	$6.9M	24,364	1.11%	-0.09pp	17q	+4.5%+$298.1K
MEDTRONIC PLC	MDT	$6.7M	78,115	1.09%	+0.10pp	7q	+4.5%+$289.6K
OLD REP INTL CORP	ORI	$6.7M	180,280	1.08%	-0.05pp	5q	+5.0%+$322.8K
BP PLC	BP	$6.6M	149,075	1.06%	+0.07pp	2q	+2.4%+$154.9K
CONSOLIDATED EDISON INC	ED	$6.5M	63,822	1.05%	-0.04pp	2q	+5.9%+$362.8K
CORE & MAIN INC	CNM	$6.4M	154,690	1.03%	-	new	NEW
ELI LILLY & CO	LLY	$6.2M	5,339	1.00%	+0.08pp	13q	+10.3%+$576.2K
EOG RES INC	EOG	$6.0M	43,295	0.96%	+0.02pp	18q	+3.6%+$207.1K
MCKESSON CORP	MCK	$5.9M	6,909	0.95%	+0.89pp	2q	+1477.4%+$5.5M
JABIL INC	JBL	$5.8M	20,216	0.94%	-	new	NEW
AMKOR TECHNOLOGY INC	AMKR	$5.8M	110,201	0.93%	-	new	NEW
LAM RESEARCH CORP	LRCX	$5.6M	17,091	0.91%	-0.10pp	8q	-5.9%-$349.9K
Jones Lang LaSalle, Inc.	JLL	$5.6M	18,362	0.90%	-0.06pp	2q	+2.6%+$139.6K
HILLMAN SOLUTIONS CORP	HLMN	$5.4M	775,671	0.87%	-	new	NEW
TTM TECHNOLOGIES INC	TTMI	$5.4M	43,853	0.87%	-	new	NEW
CUMMINS INC	CMI	$5.1M	9,931	0.83%	+0.78pp	2q	+2035.7%+$4.9M
HEWLETT PACKARD ENTERPRISE C	HPE	$5.1M	79,529	0.82%	+0.18pp	2q	-2.6%-$134.5K
THERMO FISHER SCIENTIFIC INC	TMO	$4.6M	6,874	0.75%	+0.22pp	3q	+14.4%+$584.6K
ALPS ETF TR	REIT	$4.6M	163,286	0.75%	-0.05pp	11q	+2.6%+$117.4K
EXXONMOBIL HOLDINGS CORP	XOM	$4.6M	28,408	0.75%	-	new	NEW
AMPHENOL CORP	APH	$4.4M	51,689	0.70%	+0.03pp	7q	HELD
SCIENCE APPLICATIONS INTL CO	SAIC	$4.1M	32,473	0.67%	+0.06pp	3q	+1.9%+$76.5K
CATERPILLAR INC	CAT	$4.0M	4,986	0.65%	-0.08pp	26q	+3.0%+$119.2K
FREEPORT-MCMORAN INC	FCX	$3.9M	55,914	0.63%	+0.08pp	5q	+1.6%+$61.0K
VANGUARD INDEX FDS	VTI	$3.8M	10,135	0.61%	+0.54pp	2q	+790.6%+$3.4M
NUCOR CORP	NUE	$3.7M	15,703	0.59%	-0.03pp	22q	-1.5%-$56.3K
COSTCO WHOLESALE CORPORATION	COST	$3.6M	3,914	0.57%	+0.03pp	5q	+7.6%+$253.1K
CHENIERE ENERGY INC	LNG	$3.6M	13,212	0.57%	+0.04pp	2q	+4.6%+$154.7K
ENERGY TRANSFER L P	ET	$3.4M	173,394	0.55%	+0.02pp	14q	+5.5%+$179.0K
KINDER MORGAN INC DEL	KMI	$3.4M	113,547	0.55%	-0.01pp	11q	+6.1%+$197.8K
J P MORGAN EXCHANGE TRADED F	JPST	$3.4M	67,808	0.55%	flat	10q	+2.0%+$66.0K
VISA INC	V	$3.4M	9,490	0.55%	flat	26q	+1.6%+$52.5K
RTX CORPORATION	RTX	$3.4M	18,208	0.55%	-0.04pp	15q	HELD
AMERICAN EXPRESS CO	AXP	$3.4M	11,041	0.54%	-	new	NEW
CVS HEALTH CORP	CVS	$3.3M	38,943	0.54%	-0.11pp	6q	+5.3%+$169.2K
LEAR CORP	LEA	$3.1M	26,460	0.50%	-	new	NEW
MICROCHIP TECHNOLOGY INC.	MCHP	$3.1M	39,902	0.50%	-0.06pp	26q	+1.4%+$44.1K
META PLATFORMS INC	META	$3.0M	4,134	0.48%	-1.21pp	26q	-72.7%-$8.0M
HUNTINGTON INGALLS INDS INC	HII	$2.9M	10,693	0.46%	flat	2q	+6.0%+$161.3K
DISNEY WALT CO	DIS	$2.8M	26,949	0.46%	+0.03pp	26q	HELD
DIGITAL RLTY TR INC	DLR	$2.7M	15,262	0.43%	flat	6q	+2.1%+$55.5K
SONY GROUP CORP	SONY	$2.6M	110,327	0.42%	+0.05pp	10q	+1.7%+$43.2K
NEWMONT CORP	NEM	$2.5M	21,660	0.40%	+0.04pp	13q	-6.9%-$183.8K
TOYOTA MOTOR CORP	TM	$2.3M	12,347	0.36%	+0.02pp	13q	+3.0%+$66.3K
PLAINS GP HLDGS L P	PAGP	$2.2M	85,996	0.36%	+0.02pp	8q	+4.2%+$89.2K
STANDARD MTR PRODS INC	SMP	$2.2M	59,511	0.36%	-	new	NEW
ROYAL GOLD INC	RGLD	$2.2M	9,294	0.35%	+0.07pp	7q	+5.3%+$110.7K
FIRST TR EXCHANGE TRADED FD	RDVY	$2.1M	27,142	0.34%	flat	17q	+3.0%+$61.8K
STELLANTIS N.V	STLA	$2.0M	463,719	0.33%	-	new	NEW
ACCENTURE PLC IRELAND	ACN	$2.0M	10,664	0.32%	-	new	NEW
LENNAR CORP	LEN	$1.9M	23,732	0.31%	flat	25q	+6.0%+$110.1K
PARKER HANNIFIN CORP	PH	$1.9M	1,954	0.30%	-0.06pp	11q	-16.4%-$366.0K
AMCOR PLC	AMCR	$1.8M	42,481	0.29%	+0.01pp	3q	+7.7%+$127.8K
EVERSOURCE ENERGY	ES	$1.8M	27,697	0.29%	-0.02pp	7q	+7.9%+$130.8K
NIKE INC	NKE	$1.7M	49,190	0.28%	-0.05pp	26q	+5.8%+$95.6K
KRAFT HEINZ CO	KHC	$1.7M	75,340	0.28%	-	new	NEW
FIRST SOLAR INC	FSLR	$1.7M	9,608	0.27%	-0.06pp	7q	+7.7%+$120.9K
TRINITY INDS INC	TRN	$1.6M	64,546	0.27%	-0.09pp	5q	+8.1%+$123.0K
MCDONALDS CORP	MCD	$1.6M	6,994	0.26%	-0.01pp	5q	+10.7%+$156.1K
CALUMET INC	CLMT	$1.5M	28,734	0.24%	+0.05pp	2q	-0.9%-$13.3K
UNITED FIRE GROUP INC	UFCS	$1.3M	25,662	0.22%	+0.01pp	5q	HELD
HONEYWELL INTL INC	HON	$1.2M	5,885	0.20%	-0.01pp	2q	+1.2%+$14.3K
SHERWIN WILLIAMS CO	SHW	$1.2M	3,706	0.19%	-0.01pp	26q	+1.1%+$12.6K
FIRST TR EXCHANGE-TRADED FD	SDVY	$1.2M	29,302	0.19%	flat	10q	+6.0%+$66.9K
PRO-DEX INC COLO	PDEX	$1.2M	16,904	0.19%	-	new	NEW
CULLINAN THERAPEUTICS INC	CGEM	$1.1M	74,856	0.19%	-	new	NEW
LIQUIDITY SVCS INC	LQDT	$1.1M	26,750	0.18%	+0.01pp	3q	HELD
GUARDIAN PHARMACY SVCS INC	GRDN	$1.1M	27,990	0.18%	-	new	NEW
PARK AEROSPACE CORP	PKE	$1.1M	37,981	0.18%	-0.03pp	3q	HELD
PACIRA BIOSCIENCES INC	PCRX	$1.1M	44,284	0.18%	-	new	NEW
BANK FIRST CORP	BFC	$1.1M	7,356	0.18%	flat	6q	+0.7%+$7.1K
CTO RLTY GROWTH INC NEW	CTO	$1.1M	53,239	0.18%	-	new	NEW
NATIONAL HEALTHCARE CORP	NHC	$1.1M	4,964	0.18%	flat	3q	HELD
PENNANT GROUP INC	PNTG	$1.1M	27,832	0.18%	-0.01pp	2q	HELD
KRYSTAL BIOTECH INC	KRYS	$1.1M	3,261	0.17%	-0.01pp	3q	HELD
HILLTOP HLDGS INC	HTH	$1.1M	28,540	0.17%	-	new	NEW
PEAPACK-GLADSTONE FINL CORP	PGC	$1.1M	24,514	0.17%	-0.01pp	3q	HELD
NICOLET BANKSHARES INC	NIC	$1.1M	6,501	0.17%	-0.01pp	4q	HELD
PALOMAR HLDGS INC	PLMR	$1.0M	8,502	0.17%	-	new	NEW
TRUSTCO BK CORP N Y	TRST	$1.0M	19,130	0.17%	flat	3q	HELD
1ST SOURCE CORP	SRCE	$997.9K	11,809	0.16%	flat	7q	+1.2%+$11.9K
COMMUNITY TR BANCORP INC	CTBI	$994.5K	13,400	0.16%	flat	7q	+0.6%+$5.9K
UNITIL CORP	UTL	$988.7K	19,477	0.16%	-	new	NEW
FIRST BUSEY CORP	BUSE	$987.1K	33,887	0.16%	flat	3q	+0.6%+$5.9K
MILLER INDS INC TENN	MLR	$978.1K	18,591	0.16%	-	new	NEW
TWIN DISC INC	TWIN	$976.4K	37,269	0.16%	-	new	NEW
EL POLLO LOCO HLDGS INC	LOCO	$972.4K	67,766	0.16%	-	new	NEW
CELLDEX THERAPEUTICS INC NEW	CLDX	$958.4K	29,572	0.15%	-	new	NEW
REX AMERICAN RES CORP	REX	$944.4K	21,736	0.15%	-	new	NEW
ALICO INC	ALCO	$922.1K	23,900	0.15%	-0.01pp	7q	+1.4%+$12.7K
MISTRAS GROUP INC	MG	$916.5K	43,520	0.15%	+0.04pp	2q	+2.8%+$25.4K
PACS GROUP INC	PACS	$914.3K	22,005	0.15%	-	new	NEW
NAVIGATOR HLDGS LTD	NVGS	$900.4K	38,842	0.15%	+0.01pp	2q	+2.2%+$19.2K
ORTHOPEDIATRICS CORP	KIDS	$900.2K	40,422	0.15%	-	new	NEW
F N B CORP	FNB	$893.2K	51,901	0.14%	-0.02pp	3q	+1.1%+$9.9K
MITEK SYS INC	MITK	$892.2K	52,328	0.14%	-	new	NEW
HONEYWELL AEROSPACE INC	HONA	$886.0K	5,717	0.14%	-0.06pp	2q	-0.6%-$5.0K
CINCINNATI FINL CORP	CINF	$865.1K	5,428	0.14%	-0.02pp	2q	-1.9%-$16.7K
NMI HLDGS INC	NMIH	$863.2K	23,129	0.14%	-	new	NEW
VANGUARD INDEX FDS	VUG	$845.0K	9,377	0.14%	-0.01pp	23q	-5.6%-$50.6K
ISHARES TR	IVV	$838.3K	1,095	0.14%	+0.04pp	16q	+37.9%+$230.4K
NABORS INDUSTRIES LTD	NBR	$822.3K	10,526	0.13%	-	new	NEW
SKYWARD SPECIALTY INS GROUP	SKWD	$819.9K	15,528	0.13%	-	new	NEW
AGILON HEALTH INC	AGL	$808.7K	10,161	0.13%	-	new	NEW
USA Compression Partners LP	USAC	$804.2K	32,335	0.13%	-0.01pp	2q	+2.0%+$15.7K
STATE STR SPDR S&P 500 ETF T	SPY	$794.4K	1,042	0.13%	flat	6q	+1.4%+$10.7K
JPMORGAN CHASE & CO	JPM	$789.6K	2,387	0.13%	flat	19q	+9.6%+$69.1K
WALMART INC	WMT	$788.7K	7,589	0.13%	-0.01pp	16q	+4.2%+$31.9K
INVESCO QQQ TR	QQQ	$787.3K	1,064	0.13%	-0.08pp	5q	-38.5%-$493.6K
SUPERNUS PHARMACEUTICALS	SUPN	$779.9K	18,121	0.13%	-0.01pp	3q	+3.4%+$25.9K
ALPHABET INC	GOOGL	$728.3K	2,117	0.12%	+0.02pp	5q	+28.5%+$161.4K
ISHARES TR	DVY	$727.1K	4,781	0.12%	-0.01pp	5q	HELD
PROCTER & GAMBLE CO	PG	$714.3K	4,917	0.12%	flat	16q	+6.7%+$44.7K
VANGUARD INDEX FDS	VOO	$677.7K	967	0.11%	flat	5q	-0.8%-$5.6K
PALO ALTO NETWORKS INC	PANW	$666.3K	1,677	0.11%	+0.01pp	14q	+1.3%+$8.3K
T MOBILE US INC	TMUS	$654.9K	4,016	0.11%	+0.05pp	6q	+132.5%+$373.3K
ISHARES TR	IJH	$605.1K	8,410	0.10%	+0.04pp	15q	+89.4%+$285.6K
GLOBE LIFE INC	GL	$516.2K	3,116	0.08%	-	new	NEW
MERCK & CO INC	MRK	$511.9K	3,523	0.08%	+0.01pp	26q	+2.0%+$9.9K
nan	OUSM	$495.6K	10,790	0.08%	+0.02pp	11q	+30.5%+$115.7K
ENBRIDGE INC	ENB	$475.7K	10,232	0.08%	-0.02pp	16q	HELD
VANGUARD TAX-MANAGED FDS	VEA	$474.3K	6,718	0.08%	flat	15q	HELD
CSX CORP	CSX	$471.6K	10,139	0.08%	-	new	NEW
TRAVELERS COMPANIES INC	TRV	$453.3K	1,271	0.07%	+0.02pp	2q	+19.2%+$73.1K
ADOBE INC	ADBE	$450.4K	1,877	0.07%	+0.01pp	2q	+18.6%+$70.8K
VANGUARD SPECIALIZED FUNDS	VIG	$439.1K	1,882	0.07%	flat	25q	+3.2%+$13.8K
MORGAN STANLEY	MS	$435.1K	2,313	0.07%	-0.01pp	12q	+3.9%+$16.2K
MATSON INC	MATX	$432.1K	1,967	0.07%	+0.01pp	2q	+21.2%+$75.6K
APPLIED MATLS INC	AMAT	$430.7K	842	0.07%	+0.02pp	2q	+52.0%+$147.3K
ALLSTATE CORP	ALL	$408.7K	1,842	0.07%	-	new	NEW
CINTAS CORP	CTAS	$387.6K	1,987	0.06%	-	new	NEW
TOWNEBANK PORTSMOUTH VA	TOWN	$386.5K	10,842	0.06%	flat	24q	HELD
SEI INVTS CO	SEIC	$382.9K	3,730	0.06%	-	new	NEW
FEDERAL SIGNAL CORP	FSS	$374.4K	3,379	0.06%	+0.01pp	2q	+25.8%+$76.7K
ISHARES TR	IJR	$366.1K	2,691	0.06%	-	new	NEW
MARSH & MCLENNAN COS INC	MRSH	$358.4K	2,099	0.06%	-	new	NEW
CHEMED CORP NEW	CHE	$347.0K	687	0.06%	+0.01pp	2q	+28.4%+$76.8K
WABTEC	WAB	$345.8K	1,204	0.06%	-	new	NEW
ROPER TECHNOLOGIES INC	ROP	$345.2K	988	0.06%	-	new	NEW
BANK OF AMER CORP	BAC	$344.3K	6,326	0.06%	flat	15q	+8.5%+$27.1K
MASTERCARD INCORPORATED	MA	$337.3K	612	0.05%	+0.01pp	9q	+31.0%+$79.9K
GRAYSCALE BITCOIN MINI TR ET	BTC	$326.9K	8,848	0.05%	+0.01pp	6q	HELD
REPUBLIC SVCS INC	RSG	$318.8K	1,519	0.05%	+0.01pp	2q	+31.3%+$76.0K
CASEYS GEN STORES INC	CASY	$309.1K	508	0.05%	flat	2q	+28.9%+$69.4K
MARATHON PETE CORP	MPC	$308.6K	780	0.05%	+0.01pp	3q	-3.8%-$12.3K
VANGUARD INDEX FDS	VXF	$297.9K	1,286	0.05%	flat	12q	HELD
SPDR SERIES TRUST	SDY	$294.7K	2,012	0.05%	flat	5q	HELD
AB ACTIVE ETFS INC	YEAR	$292.4K	5,838	0.05%	flat	16q	-3.7%-$11.3K
NEUROCRINE BIOSCIENCES INC	NBIX	$289.4K	2,040	0.05%	-1.07pp	2q	-94.9%-$5.3M
INTERNATIONAL BUSINESS MACHS	IBM	$287.5K	1,307	0.05%	flat	9q	+7.0%+$18.9K
SELECT SECTOR SPDR TR	XLK	$277.1K	1,416	0.04%	flat	2q	HELD
DIMENSIONAL ETF TRUST	DFAC	$274.9K	6,185	0.04%	flat	22q	HELD
STRYKER CORPORATION	SYK	$272.9K	991	0.04%	-0.01pp	26q	+3.3%+$8.8K
VANGUARD INDEX FDS	VO	$272.3K	3,472	0.04%	flat	23q	HELD
ISHARES TR	IBB	$271.0K	1,287	0.04%	flat	4q	+0.9%+$2.3K
ABBVIE INC	ABBV	$245.4K	938	0.04%	-	new	NEW
NOVARTIS AG	NVS	$241.7K	1,695	0.04%	flat	6q	HELD
PHILLIPS 66	PSX	$230.6K	903	0.04%	-	new	NEW
PALANTIR TECHNOLOGIES INC	PLTR	$228.6K	1,222	0.04%	-	new	NEW
VANGUARD INTL EQUITY INDEX F	VEU	$216.1K	2,604	0.03%	-	new	NEW
BAILLIE GIFFORD ETF TR	BGGG	$213.6K	6,155	0.03%	-	new	NEW
NORTHERN DYNASTY MINERALS LT	NAK	$40.4K	29,474	0.01%	flat	25q	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
Semiconductors & Electronics	$71.0M	11.4%
Energy	$67.4M	10.9%
Industrials	$43.9M	7.1%
Biotech & Pharma	$43.4M	7.0%
Software & IT Services	$32.6M	5.3%
Computer Hardware	$30.3M	4.9%
Banks & Lending	$29.9M	4.8%
Capital Markets	$27.6M	4.4%
Retail & Consumer	$24.5M	4.0%
Utilities	$24.2M	3.9%
Autos & Aerospace	$22.5M	3.6%
Insurance	$22.1M	3.6%
Other sectors	$118.1M	19.0%
Not classified	$62.6M	10.1%

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	+1.9%	+2.1%	-0.2%	99%
Q2 2026	+14.2%	+14.8%	-0.7%	100%
Q1 2026	+4.8%	-4.6%	+9.5%	96%
Q4 2025	+3.2%	+2.4%	+0.9%	99%
Q3 2025	+7.7%	+7.8%	-0.1%	100%
Q2 2025	+4.3%	+10.5%	-6.1%	100%
Q1 2025	-2.2%	-4.6%	+2.3%	100%
Q4 2024	-3.8%	+2.1%	-6.0%	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	$620.1M	193	48	99	18	37	24.0%	15
Q2 2026	$608.6M	182	40	82	37	22	23.6%	16
Q1 2026	$532.2M	164	33	80	29	34	24.2%	16
Q4 2025	$506.0M	165	24	86	41	23	23.8%	16
Q3 2025	$468.7M	164	41	73	39	33	25.6%	16
Q2 2025	$410.9M	156	32	78	35	44	23.5%	23
Q1 2025	$381.1M	168	50	80	25	46	21.3%	58
Q4 2024	$381.5M	164	33	92	25	44	21.6%	16
Q3 2024	$386.2M	175	25	106	20	27	21.5%	16
Q2 2024	$358.7M	177	24	113	14	17	21.7%	18
Q1 2024	$348.5M	170	45	96	19	36	23.5%	15
Q4 2023	$316.0M	161	20	101	14	22	23.4%	18
Q3 2023	$281.9M	163	38	74	28	34	22.6%	20
Q2 2023	$290.2M	159	28	81	36	28	22.8%	24
Q1 2023	$283.9M	159	20	100	19	21	22.7%	12
Q4 2022	$266.9M	160	41	49	45	22	23.7%	19
Q3 2022	$233.6M	141	19	50	48	16	25.7%	20
Q2 2022	$247.7M	138	27	46	39	29	27.1%	25
Q1 2022	$283.6M	140	39	50	35	44	26.6%	21
Q4 2021	$270.4M	145	41	59	19	42	25.9%	18
Q3 2021	$219.6M	146	15	93	11	16	24.4%	18
Q2 2021	$204.6M	147	34	78	15	26	25.1%	19
Q1 2021	$166.2M	139	35	84	8	18	26.8%	21
Q4 2020	$138.0M	122	45	65	2	9	31.1%	34
Q3 2020	$100.1M	86	14	10	24	4	33.6%	126
Q2 2020	$91.3M	76	0	0	0	0	35.0%	218

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.