DaveManuel.com · Institutional Ownership · 13F Holdings

CFS Investment Advisory Services, LLC

Reported holdings as of Q3 2026, from 23 quarterly filings.

CIK

1845688

Reported value

$1.5B

Positions

361

Top 10 weight

35.7%

Filed

2026-10-19

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
SPDR SERIES TRUST	SPYM	$142.4M	1,552,195	9.24%	+0.52pp	21q	+4.2%+$5.7M
PACER FDS TR	PTLC	$122.7M	2,017,796	7.96%	+0.09pp	21q	-0.7%-$826.1K
VANGUARD INDEX FDS	VUG	$60.4M	652,031	3.92%	+0.20pp	10q	HELD
ISHARES TR	IWD	$41.3M	164,174	2.68%	-0.05pp	10q	-1.2%-$487.6K
BLACKROCK ETF TRUST	DYNF	$36.5M	516,886	2.37%	-0.02pp	11q	-3.1%-$1.2M
ISHARES TR	IVV	$32.8M	41,916	2.13%	+0.03pp	10q	HELD
VANGUARD TAX-MANAGED FDS	VEA	$30.7M	431,799	1.99%	+0.04pp	10q	+4.2%+$1.2M
DIMENSIONAL ETF TRUST	DFAC	$28.9M	636,489	1.88%	-0.03pp	20q	-1.5%-$443.5K
ISHARES TR	IJH	$27.4M	370,717	1.78%	-0.06pp	10q	+2.4%+$630.9K
ISHARES TR	IUSB	$26.6M	605,150	1.73%	+0.26pp	21q	+25.9%+$5.5M
ISHARES TR	ACWX	$24.4M	319,451	1.58%	+0.67pp	3q	+76.3%+$10.6M
BLACKROCK ETF TRUST	CORO	$23.3M	634,300	1.51%	-0.03pp	3q	-1.6%-$368.2K
ISHARES TR	IVW	$23.2M	158,527	1.50%	+0.03pp	10q	-2.9%-$684.3K
APPLE INC	AAPL	$22.4M	67,253	1.46%	+0.10pp	9q	+2.1%+$454.1K
DIMENSIONAL ETF TRUST	DFCF	$22.2M	553,257	1.44%	-0.09pp	20q	+1.6%+$352.8K
ISHARES TR	GOVT	$21.1M	964,973	1.37%	+0.13pp	21q	+17.7%+$3.2M
DIMENSIONAL ETF TRUST	DFIV	$20.0M	358,242	1.30%	-0.02pp	17q	-0.7%-$143.7K
VANGUARD SCOTTSDALE FDS	VGIT	$18.1M	320,209	1.18%	+0.17pp	17q	+24.5%+$3.6M
DIMENSIONAL ETF TRUST	DFAE	$17.3M	429,895	1.12%	flat	17q	-0.6%-$104.2K
ISHARES TR	SGOV	$16.4M	163,230	1.06%	-0.38pp	8q	-24.4%-$5.3M
BLACKROCK ETF TRUST	IALT	$16.2M	540,019	1.05%	+0.09pp	2q	+4.7%+$730.3K
VANGUARD BD INDEX FDS	BND	$15.6M	222,340	1.01%	+0.10pp	10q	+18.9%+$2.5M
BLACKROCK ETF TRUST	BAI	$15.1M	303,342	0.98%	-0.13pp	6q	-14.3%-$2.5M
VANGUARD INTL EQUITY INDEX F	VWO	$14.8M	244,390	0.96%	+0.05pp	10q	+5.4%+$754.8K
SCHWAB STRATEGIC TR	SCHZ	$14.4M	652,940	0.93%	+0.11pp	10q	+21.1%+$2.5M
BLACKROCK ETF TRUST II	BRTR	$14.1M	296,408	0.92%	-0.17pp	9q	-8.9%-$1.4M
SPDR SERIES TRUST	SPTL	$13.0M	547,843	0.84%	-0.06pp	21q	+5.1%+$630.7K
DIMENSIONAL ETF TRUST	DFUS	$12.5M	147,404	0.81%	+0.03pp	17q	+2.4%+$296.8K
VANGUARD CHARLOTTE FDS	BNDX	$12.5M	266,823	0.81%	+0.17pp	6q	+34.5%+$3.2M
NVIDIA CORPORATION	NVDA	$12.2M	51,018	0.79%	+0.13pp	15q	+0.8%+$102.2K
DIMENSIONAL ETF TRUST	DFAI	$11.9M	286,432	0.77%	flat	19q	+2.2%+$260.9K
CAPITAL GROUP DIVIDEND VALUE	CGDV	$11.8M	236,870	0.77%	-0.02pp	14q	-1.5%-$180.2K
ISHARES TR	IEI	$10.6M	93,523	0.69%	-0.18pp	10q	-15.4%-$1.9M
GLOBAL X FDS	SHLD	$10.6M	176,189	0.69%	-0.06pp	5q	+0.9%+$98.5K
BLACKROCK ETF TRUST	THRO	$10.3M	229,795	0.67%	-0.01pp	7q	-4.4%-$470.7K
PROSHARES TR	NOBL	$10.1M	184,997	0.66%	-0.07pp	21q	-2.5%-$258.8K
BROADCOM INC	AVGO	$10.0M	26,734	0.65%	flat	17q	-2.2%-$222.1K
SPDR SERIES TRUST	BIL	$9.8M	107,121	0.64%	+0.58pp	4q	+1136.8%+$9.0M
ISHARES TR	XT	$9.3M	109,045	0.60%	+0.01pp	21q	HELD
ISHARES INC	IEMG	$9.1M	109,506	0.59%	+0.01pp	21q	HELD
ISHARES TR	IYW	$8.3M	30,379	0.54%	+0.04pp	10q	-1.6%-$137.7K
ISHARES TR	ESGU	$8.2M	47,857	0.53%	flat	21q	-1.8%-$147.8K
SPDR INDEX SHS FDS	NANR	$8.1M	94,701	0.53%	+0.05pp	21q	HELD
MICROSOFT CORP	MSFT	$8.1M	15,289	0.53%	+0.14pp	10q	+4.1%+$319.7K
ISHARES TR	AGG	$7.8M	82,527	0.51%	-0.07pp	10q	-5.4%-$446.2K
DIMENSIONAL ETF TRUST	DFSD	$7.6M	162,420	0.49%	-0.01pp	19q	+2.2%+$165.6K
JOHNSON & JOHNSON	JNJ	$7.3M	28,828	0.48%	-0.03pp	10q	-0.8%-$59.6K
EXXONMOBIL HOLDINGS CORP	XOM	$7.2M	43,880	0.47%	-	new	NEW
ISHARES TR	OEF	$6.5M	16,824	0.42%	+0.01pp	10q	-0.5%-$33.5K
JPMORGAN CHASE & CO	JPM	$6.5M	19,762	0.42%	+0.01pp	21q	+7.5%+$454.8K
ISHARES TR	EFG	$6.5M	53,651	0.42%	+0.01pp	10q	+7.9%+$474.6K
ISHARES TR	IEFA	$6.5M	66,620	0.42%	-0.02pp	21q	-1.0%-$65.6K
ABBVIE INC	ABBV	$6.5M	24,252	0.42%	flat	21q	HELD
ISHARES TR	IJR	$6.5M	46,540	0.42%	-0.05pp	10q	-2.8%-$188.3K
FIRST TR EXCHANGE-TRADED FD	FDL	$5.9M	120,297	0.39%	-0.02pp	9q	-2.4%-$143.8K
ISHARES TR	QUAL	$5.9M	26,178	0.38%	-0.02pp	21q	-6.7%-$425.8K
ISHARES INC	DVYE	$5.8M	165,899	0.38%	-0.04pp	9q	-14.8%-$1.0M
SPDR SERIES TRUST	SPSM	$5.8M	107,699	0.38%	+0.01pp	21q	+9.9%+$523.7K
SCHWAB STRATEGIC TR	FNDF	$5.8M	107,338	0.38%	-	new	NEW
ISHARES TR	ITOT	$5.8M	33,872	0.37%	flat	10q	-1.6%-$91.1K
ELI LILLY & CO	LLY	$5.6M	4,828	0.36%	-0.03pp	10q	HELD
WALMART INC	WMT	$5.4M	50,261	0.35%	-0.03pp	10q	-0.6%-$35.2K
ISHARES TR	EFV	$5.3M	67,200	0.34%	+0.14pp	10q	+68.8%+$2.2M
ISHARES TR	EFA	$5.2M	50,222	0.34%	-0.02pp	10q	-1.8%-$96.6K
SPDR SERIES TRUST	SPAB	$5.1M	211,026	0.33%	+0.30pp	9q	+1097.8%+$4.7M
BLACKROCK ETF TRUST	BIDD	$4.8M	158,156	0.31%	-0.10pp	8q	-23.8%-$1.5M
VANGUARD INDEX FDS	VTI	$4.8M	12,499	0.31%	+0.01pp	10q	+1.6%+$73.4K
ISHARES TR	IVE	$4.7M	20,368	0.31%	-0.04pp	10q	-10.6%-$561.8K
ISHARES TR	IJJ	$4.6M	32,878	0.30%	-0.02pp	10q	+1.3%+$58.3K
ALPHABET INC	GOOGL	$4.6M	13,330	0.30%	+0.05pp	18q	+26.7%+$978.1K
WW GRAINGER INC	GWW	$4.4M	3,451	0.29%	-0.04pp	10q	-4.5%-$209.2K
PROCTER & GAMBLE CO	PG	$4.4M	29,529	0.28%	flat	10q	+4.7%+$197.5K
AMAZON COM INC	AMZN	$4.4M	17,086	0.28%	+0.04pp	9q	+15.2%+$577.9K
WORLD GOLD TR	GLDM	$4.1M	50,258	0.27%	-0.01pp	8q	-2.3%-$97.0K
ISHARES TR	STIP	$4.1M	41,419	0.27%	-0.02pp	17q	-2.9%-$122.7K
COCA COLA CO	KO	$4.1M	47,826	0.27%	flat	10q	+2.3%+$90.8K
ISHARES TR	IJK	$4.1M	36,084	0.26%	-0.01pp	10q	-0.9%-$37.2K
ISHARES TR	ICSH	$4.0M	79,155	0.26%	+0.01pp	17q	+6.4%+$240.5K
ISHARES TR	MUB	$3.8M	37,505	0.25%	+0.02pp	10q	+19.7%+$624.3K
AMGEN INC	AMGN	$3.8M	9,371	0.24%	+0.01pp	9q	+1.3%+$48.3K
MERCK & CO INC	MRK	$3.7M	26,210	0.24%	+0.01pp	21q	-1.0%-$36.5K
BERKSHIRE HATHAWAY INC DEL	BRKB	$3.7M	7,301	0.24%	-0.02pp	9q	-5.9%-$233.1K
ISHARES TR	IWO	$3.7M	10,182	0.24%	-0.02pp	10q	HELD
NUCOR CORP	NUE	$3.6M	14,523	0.24%	+0.02pp	10q	HELD
CINTAS CORP	CTAS	$3.6M	18,485	0.24%	-0.01pp	10q	-9.1%-$364.7K
INVESCO EXCH TRADED FD TR II	QQQM	$3.4M	10,845	0.22%	flat	16q	-4.8%-$172.0K
VANGUARD INDEX FDS	VOO	$3.4M	4,712	0.22%	-0.04pp	10q	-16.9%-$683.9K
DIMENSIONAL ETF TRUST	DFEM	$3.3M	81,444	0.21%	flat	17q	-1.6%-$52.2K
AFLAC INC	AFL	$3.3M	28,643	0.21%	-0.02pp	9q	HELD
AMERICAN CENTY ETF TR	AVMC	$3.2M	40,685	0.21%	flat	6q	+4.8%+$146.4K
DIMENSIONAL ETF TRUST	DFAT	$3.2M	46,417	0.20%	-0.02pp	17q	-2.7%-$88.5K
CHUBB LIMITED	CB	$3.1M	9,412	0.20%	-0.02pp	16q	HELD
INVESCO QQQ TR	QQQ	$3.1M	4,055	0.20%	+0.03pp	9q	+14.7%+$395.0K
SPDR SERIES TRUST	SPIP	$3.0M	123,436	0.20%	+0.03pp	3q	+25.1%+$603.7K
NORTHERN LIGHTS FD TR	MRSK	$3.0M	73,938	0.19%	+0.02pp	6q	+7.2%+$199.1K
CARDINAL HEALTH INC	CAH	$2.9M	12,519	0.19%	-0.01pp	21q	-1.7%-$50.0K
LINDE PLC	LIN	$2.9M	5,906	0.19%	-0.05pp	14q	-9.9%-$318.5K
PIMCO ETF TR	SMMU	$2.9M	58,400	0.19%	flat	6q	+2.9%+$80.6K
VANGUARD INTL EQUITY INDEX F	VT	$2.8M	17,587	0.18%	flat	10q	+2.4%+$66.5K
EMERSON ELEC CO	EMR	$2.8M	17,355	0.18%	+0.02pp	10q	HELD
BLACKROCK ETF TRUST II	BINC	$2.7M	53,669	0.18%	-0.05pp	9q	-17.1%-$562.0K
CITIGROUP INC	C	$2.7M	20,969	0.17%	-0.02pp	10q	+1.5%+$39.6K
NEXTERA ENERGY INC	NEE	$2.7M	34,108	0.17%	-0.03pp	21q	-1.1%-$28.4K
DIMENSIONAL ETF TRUST	DFIC	$2.6M	68,260	0.17%	-0.01pp	17q	-4.3%-$114.4K
VANGUARD MALVERN FDS	VTIP	$2.5M	52,612	0.17%	+0.02pp	5q	+22.7%+$471.5K
AUTOMATIC DATA PROCESSING IN	ADP	$2.5M	9,648	0.16%	+0.01pp	9q	+1.1%+$26.5K
ISHARES TR	MTUM	$2.4M	7,512	0.16%	flat	21q	-2.1%-$53.5K
ISHARES TR	TIP	$2.4M	23,388	0.16%	-0.01pp	10q	+2.9%+$68.0K
STATE STR SPDR S&P 500 ETF T	SPY	$2.4M	3,127	0.16%	flat	23q	HELD
VANGUARD SPECIALIZED FUNDS	VIG	$2.4M	10,030	0.15%	flat	10q	HELD
INTERNATIONAL BUSINESS MACHS	IBM	$2.4M	10,713	0.15%	-0.04pp	10q	+7.9%+$174.4K
CATERPILLAR INC	CAT	$2.4M	2,737	0.15%	-0.02pp	10q	HELD
PHILIP MORRIS INTL INC	PM	$2.4M	12,373	0.15%	+0.03pp	9q	+23.0%+$440.8K
GENERAL DYNAMICS CORP	GD	$2.3M	7,058	0.15%	-0.02pp	10q	+1.5%+$35.5K
APPLIED MATLS INC	AMAT	$2.3M	4,378	0.15%	-0.02pp	9q	+0.6%+$14.3K
ISHARES TR	SYSB	$2.3M	27,423	0.15%	flat	4q	+8.7%+$185.0K
CAPITAL GROUP GROWTH ETF	CGGR	$2.3M	47,339	0.15%	flat	17q	-2.6%-$61.0K
ISHARES TR	IWX	$2.3M	20,630	0.15%	+0.04pp	10q	+31.0%+$541.2K
DIMENSIONAL ETF TRUST	DFIP	$2.3M	57,595	0.15%	-0.01pp	17q	HELD
CISCO SYS INC	CSCO	$2.2M	19,039	0.15%	-0.01pp	17q	-5.2%-$123.8K
S&P GLOBAL INC	SPGI	$2.2M	5,575	0.14%	-0.02pp	21q	HELD
BANK OF AMER CORP	BAC	$2.2M	40,560	0.14%	-0.01pp	9q	+5.5%+$114.5K
ISHARES TR	SUSL	$2.2M	15,485	0.14%	flat	20q	HELD
BLACKROCK ETF TRUST II	MBBA	$2.2M	46,124	0.14%	-	new	NEW
ISHARES TR	MBB	$2.1M	24,044	0.14%	-1.02pp	10q	-87.0%-$14.4M
META PLATFORMS INC	META	$2.1M	2,883	0.14%	+0.03pp	21q	+6.3%+$126.3K
DOVER CORP	DOV	$2.1M	10,987	0.14%	-0.04pp	10q	-10.0%-$232.9K
DIMENSIONAL ETF TRUST	DFUV	$2.1M	37,606	0.14%	-0.01pp	17q	-2.9%-$63.4K
ILLINOIS TOOL WKS INC	ITW	$2.0M	7,530	0.13%	-0.01pp	10q	HELD
SHERWIN WILLIAMS CO	SHW	$2.0M	6,217	0.13%	-0.03pp	10q	-9.9%-$218.7K
J P MORGAN EXCHANGE TRADED F	JMOM	$2.0M	22,950	0.13%	-0.02pp	7q	-14.2%-$327.0K
VANGUARD INDEX FDS	VO	$1.9M	24,019	0.13%	flat	10q	+4.4%+$82.5K
VANGUARD INDEX FDS	VV	$1.9M	5,409	0.13%	flat	10q	-1.9%-$38.1K
CINCINNATI FINL CORP	CINF	$1.9M	11,867	0.13%	-0.03pp	10q	-1.6%-$31.3K
DIMENSIONAL ETF TRUST	DFAS	$1.9M	24,235	0.12%	-0.01pp	5q	+1.8%+$34.8K
MCDONALDS CORP	MCD	$1.9M	7,981	0.12%	-0.03pp	10q	-3.4%-$65.1K
UNITEDHEALTH GROUP INC	UNH	$1.8M	4,909	0.12%	-0.03pp	21q	-5.2%-$102.0K
LOWES COS INC	LOW	$1.8M	10,055	0.12%	-0.05pp	10q	-8.0%-$161.6K
INVESCO EXCHANGE TRADED FD T	RPG	$1.8M	30,430	0.12%	-0.01pp	7q	-5.8%-$114.2K
SPDR SERIES TRUST	TFI	$1.8M	42,892	0.12%	-0.01pp	21q	+0.6%+$11.7K
INVESCO EXCH TRADED FD TR II	SPMO	$1.8M	11,790	0.12%	-0.78pp	8q	-86.8%-$11.9M
TESLA INC	TSLA	$1.8M	4,725	0.12%	-0.01pp	21q	HELD
BLACKROCK ETF TRUST II	HIMU	$1.8M	38,785	0.11%	-0.01pp	7q	+2.6%+$43.9K
ABBOTT LABORATORIES	ABT	$1.8M	17,930	0.11%	+0.01pp	9q	+7.4%+$120.7K
EA SERIES TRUST	AAUB	$1.8M	33,731	0.11%	-	new	NEW
VISA INC	V	$1.7M	4,643	0.11%	flat	21q	HELD
VANGUARD INDEX FDS	VTV	$1.7M	7,833	0.11%	flat	8q	+4.9%+$79.9K
FLEXSHARES TR	QDF	$1.7M	18,617	0.11%	-0.03pp	9q	-22.9%-$505.5K
GILEAD SCIENCES INC	GILD	$1.7M	11,680	0.11%	+0.01pp	10q	HELD
PEPSICO INC	PEP	$1.6M	13,095	0.11%	-0.03pp	10q	-10.7%-$196.5K
VANGUARD SCOTTSDALE FDS	BNDW	$1.6M	24,963	0.11%	+0.06pp	4q	+145.4%+$973.4K
RTX CORPORATION	RTX	$1.6M	8,856	0.11%	-0.01pp	9q	+2.2%+$34.6K
CHEVRON CORPORATION	CVX	$1.6M	7,785	0.10%	+0.02pp	10q	+7.1%+$107.5K
SPDR INDEX SHS FDS	SPEM	$1.6M	30,287	0.10%	flat	21q	-3.3%-$54.3K
SPDR SERIES TRUST	SPMD	$1.5M	23,808	0.10%	-0.01pp	21q	-1.5%-$23.7K
ALPHABET INC	GOOG	$1.5M	4,467	0.10%	flat	18q	+2.9%+$44.1K
VANGUARD MUN BD FDS	VSDM	$1.5M	20,493	0.10%	+0.06pp	3q	+142.1%+$894.6K
GOLDMAN SACHS ETF TR	GSLC	$1.5M	10,257	0.10%	flat	10q	-3.1%-$48.7K
ISHARES TR	IEF	$1.5M	16,827	0.10%	-0.14pp	2q	-55.3%-$1.9M
PHILLIPS 66	PSX	$1.5M	5,535	0.10%	+0.04pp	10q	+5.9%+$83.4K
MORGAN STANLEY	MS	$1.5M	7,765	0.10%	-0.02pp	10q	-0.5%-$7.6K
ARCHER DANIELS MIDLAND CO	ADM	$1.5M	17,871	0.10%	flat	9q	+0.7%+$10.4K
ANALOG DEVICES INC	ADI	$1.5M	3,492	0.10%	+0.01pp	9q	HELD
GOLDMAN SACHS GROUP INC	GS	$1.5M	1,627	0.09%	-0.02pp	17q	HELD
BLACKROCK ETF TRUST	BLCR	$1.5M	28,847	0.09%	+0.01pp	3q	+14.2%+$181.5K
DIMENSIONAL ETF TRUST	DFAU	$1.4M	27,075	0.09%	flat	19q	+0.7%+$10.1K
AIR PRODUCTS AND CHEMICALS I	APD	$1.4M	5,137	0.09%	-0.01pp	9q	+0.8%+$11.8K
ORACLE CORP	ORCL	$1.4M	9,832	0.09%	+0.01pp	17q	+6.0%+$80.3K
ISHARES TR	IWB	$1.4M	3,342	0.09%	flat	10q	-5.8%-$86.8K
PALANTIR TECHNOLOGIES INC	PLTR	$1.4M	7,193	0.09%	+0.03pp	8q	+2.9%+$38.6K
ISHARES TR	USMV	$1.4M	13,640	0.09%	flat	21q	-2.5%-$35.3K
ISHARES TR	IWF	$1.4M	10,509	0.09%	flat	10q	HELD
ISHARES INC	EMXC	$1.3M	13,207	0.09%	flat	12q	-1.1%-$15.6K
SYSCO CORP	SYY	$1.3M	17,065	0.09%	-0.01pp	10q	-2.0%-$26.3K
ADVANCED MICRO DEVICES INC	AMD	$1.3M	2,003	0.08%	+0.04pp	5q	+52.7%+$448.7K
NORTHERN LTS FD TR IV	BUYW	$1.3M	88,859	0.08%	+0.01pp	6q	+11.3%+$131.8K
NORTHERN LIGHTS FD TR	THY	$1.3M	60,462	0.08%	flat	6q	+1.8%+$23.3K
ADVISORS INNER CIRCLE FD II	EDGF	$1.3M	52,075	0.08%	flat	6q	+1.1%+$13.9K
LAM RESEARCH CORP	LRCX	$1.2M	3,723	0.08%	-0.01pp	8q	HELD
DUKE ENERGY CORP NEW	DUK	$1.2M	10,636	0.08%	-0.01pp	16q	+0.7%+$8.2K
PROSHARES TR	TDV	$1.2M	11,878	0.08%	flat	21q	HELD
ISHARES TR	TLT	$1.2M	15,720	0.08%	-0.03pp	10q	-15.8%-$227.7K
ECOLAB INC	ECL	$1.2M	4,213	0.08%	-0.01pp	10q	-11.0%-$146.3K
CME GROUP INC	CME	$1.2M	4,301	0.08%	+0.01pp	15q	+10.0%+$105.6K
SOUTHERN CO	SO	$1.1M	13,293	0.07%	-0.01pp	10q	+1.2%+$13.2K
SCHWAB STRATEGIC TR	SCHD	$1.1M	34,327	0.07%	flat	5q	HELD
QUALCOMM INC	QCOM	$1.1M	6,196	0.07%	flat	10q	+5.7%+$60.5K
SCHWAB STRATEGIC TR	SCHF	$1.1M	40,031	0.07%	flat	7q	-2.2%-$24.8K
INNOVATOR ETFS TRUST	SFLR	$1.1M	27,823	0.07%	+0.01pp	3q	+7.8%+$79.6K
CONOCOPHILLIPS	COP	$1.1M	8,278	0.07%	+0.02pp	14q	+8.1%+$79.9K
US BANCORP	USB	$1.1M	18,397	0.07%	-0.01pp	10q	HELD
BONDBLOXX ETF TRUST	XTEN	$1.1M	24,914	0.07%	-0.02pp	7q	-18.0%-$230.1K
DIMENSIONAL ETF TRUST	DFAX	$1.0M	27,664	0.07%	flat	20q	HELD
INVESCO EXCHANGE TRADED FD T	PFM	$1.0M	18,358	0.07%	flat	19q	HELD
VANGUARD BD INDEX FDS	BIV	$1.0M	14,081	0.07%	-0.01pp	10q	-2.8%-$29.7K
MICRON TECHNOLOGY INC	MU	$1.0M	970	0.07%	flat	4q	HELD
AMERICAN ELEC PWR CO INC	AEP	$1.0M	8,297	0.07%	-0.01pp	9q	HELD
ISHARES TR	IGM	$1.0M	5,772	0.07%	flat	9q	HELD
AT&T INC	T	$997.8K	40,842	0.06%	+0.01pp	21q	+3.5%+$34.0K
PUBLIC SVC ENTERPRISE GROUP	PEG	$993.3K	13,847	0.06%	-0.01pp	10q	+2.1%+$20.4K
ISHARES TR	IXUS	$982.9K	10,232	0.06%	+0.01pp	21q	+19.5%+$160.7K
CAMBRIA ETF TR	SYLD	$980.3K	12,005	0.06%	flat	6q	HELD
ISHARES TR	HDV	$962.7K	33,944	0.06%	flat	8q	+1.2%+$11.2K
PIMCO ETF TR	MUNI	$953.4K	19,159	0.06%	-0.02pp	8q	-13.3%-$146.6K
MEDTRONIC PLC	MDT	$950.1K	10,909	0.06%	flat	21q	+6.1%+$55.0K
PNC FINL SVCS GROUP INC	PNC	$935.7K	4,250	0.06%	-0.01pp	10q	+4.8%+$43.2K
TARGET CORP	TGT	$934.0K	6,052	0.06%	+0.01pp	9q	-0.9%-$9.0K
BLACKROCK ETF TRUST II	GGOV	$933.1K	18,878	0.06%	+0.01pp	2q	+14.3%+$116.9K
PENTAIR PLC	PNR	$932.5K	17,614	0.06%	-0.05pp	16q	-16.4%-$183.1K
SELECT SECTOR SPDR TR	XLK	$925.4K	4,581	0.06%	+0.03pp	2q	+113.3%+$491.5K
GENUINE PARTS CO	GPC	$916.2K	7,193	0.06%	-0.01pp	10q	-1.9%-$17.3K
HOME DEPOT INC	HD	$907.7K	3,166	0.06%	-0.02pp	10q	-2.7%-$25.5K
COLGATE PALMOLIVE CO	CL	$891.6K	10,219	0.06%	-0.02pp	10q	-13.3%-$137.1K
ISHARES TR	EFAV	$886.6K	9,740	0.06%	-0.01pp	21q	-8.2%-$78.9K
VANGUARD STAR FDS	VXUS	$881.8K	10,277	0.06%	flat	10q	HELD
ISHARES TR	EEM	$859.0K	12,583	0.06%	flat	8q	HELD
ISHARES TR	IXN	$850.5K	5,561	0.06%	flat	10q	HELD
ROPER TECHNOLOGIES INC	ROP	$834.3K	2,303	0.05%	-0.01pp	10q	-8.6%-$78.3K
VANGUARD WORLD FD	VGT	$829.7K	6,392	0.05%	flat	15q	HELD
VANGUARD MUN BD FDS	VTEI	$823.3K	8,624	0.05%	flat	2q	+2.9%+$23.6K
PACER FDS TR	COWZ	$816.5K	12,021	0.05%	flat	6q	HELD
TAIWAN SEMICONDUCTOR MANUFAC	TSM	$796.3K	1,651	0.05%	+0.01pp	7q	+2.9%+$22.2K
COSTCO WHOLESALE CORPORATION	COST	$786.9K	841	0.05%	-0.02pp	12q	-22.3%-$225.5K
AMERICAN CENTY ETF TR	AVEM	$726.0K	7,552	0.05%	-0.31pp	5q	-87.1%-$4.9M
TEXAS INSTRS INC	TXN	$721.1K	2,426	0.05%	flat	10q	+0.7%+$4.8K
MONDELEZ INTL INC	MDLZ	$717.0K	12,027	0.05%	flat	9q	+9.2%+$60.4K
MASTERCARD INCORPORATED	MA	$697.5K	1,231	0.05%	+0.01pp	16q	+20.9%+$120.7K
VANGUARD INDEX FDS	VB	$675.3K	2,320	0.04%	flat	10q	-1.6%-$10.8K
PROSHARES TR	REGL	$666.6K	7,593	0.04%	flat	21q	-0.5%-$3.5K
LOCKHEED MARTIN CORP	LMT	$665.2K	1,304	0.04%	flat	10q	+19.0%+$106.1K
BONDBLOXX ETF TRUST	TAXX	$638.2K	12,809	0.04%	-0.02pp	9q	-28.1%-$250.0K
INVESCO EXCHANGE TRADED FD T	RSP	$634.7K	2,989	0.04%	flat	21q	HELD
ACCENTURE PLC IRELAND	ACN	$626.6K	3,240	0.04%	-	new	NEW
ISHARES TR	VLUE	$626.3K	3,128	0.04%	flat	3q	-0.7%-$4.4K
SPDR SERIES TRUST	SJNK	$616.8K	25,434	0.04%	-0.01pp	7q	-12.9%-$91.3K
M & T BK CORP	MTB	$601.3K	2,749	0.04%	flat	18q	HELD
VANECK ETF TRUST	ITM	$598.9K	13,566	0.04%	+0.01pp	20q	+29.1%+$134.9K
ISHARES TR	GNMA	$594.8K	14,266	0.04%	-0.09pp	15q	-67.7%-$1.2M
FIFTH THIRD BANCORP	FITB	$589.7K	11,563	0.04%	flat	10q	+2.0%+$11.4K
ISHARES TR	IBMP	$583.4K	23,141	0.04%	flat	16q	-4.1%-$25.2K
ISHARES TR	IBMO	$582.8K	22,751	0.04%	flat	20q	-0.5%-$3.1K
INTEL CORP	INTC	$577.1K	5,130	0.04%	-0.01pp	3q	-10.1%-$64.8K
ISHARES TR	IBMR	$573.1K	23,143	0.04%	flat	8q	HELD
TRACTOR SUPPLY CO	TSCO	$565.8K	17,521	0.04%	+0.01pp	2q	+43.8%+$172.4K
BLACKROCK ETF TRUST	LCTU	$562.2K	6,738	0.04%	flat	12q	-4.1%-$24.1K
BRISTOL-MYERS SQUIBB CO	BMY	$556.5K	9,338	0.04%	flat	10q	-0.8%-$4.6K
ISHARES TR	IGRO	$553.7K	6,247	0.04%	flat	9q	-5.9%-$34.7K
ISHARES TR	IBMQ	$544.8K	21,662	0.04%	flat	12q	-5.7%-$32.7K
BECTON DICKINSON CO	BDX	$540.9K	3,000	0.04%	+0.01pp	9q	+13.8%+$65.6K
SHELL PLC	SHEL	$539.2K	5,523	0.03%	+0.01pp	10q	HELD
DEERE CO	DE	$532.2K	779	0.03%	flat	3q	+1.8%+$9.6K
EXPEDITORS INTL WASH INC	EXPD	$522.1K	2,722	0.03%	flat	10q	HELD
VALERO ENERGY CORP	VLO	$521.5K	1,244	0.03%	+0.01pp	5q	+0.6%+$3.4K
SPACE EXPLORATION TECHN CORP	SPCX	$520.9K	3,030	0.03%	-	new	NEW
KLA CORP	KLAC	$519.1K	2,629	0.03%	-0.01pp	6q	+1.4%+$7.1K
FASTENAL CO	FAST	$517.4K	10,183	0.03%	flat	10q	+1.7%+$8.6K
WELLS FARGO & CO	WFC	$516.5K	6,337	0.03%	flat	3q	+24.6%+$102.1K
BANK OF NY MELLON CORP	BNY	$515.3K	3,585	0.03%	flat	9q	+4.6%+$22.6K
EATON CORP PLC	ETN	$512.7K	1,152	0.03%	+0.01pp	11q	+9.5%+$44.5K
ENTERGY CORP NEW	ETR	$510.6K	4,945	0.03%	flat	12q	HELD
ISHARES TR	IQLT	$507.9K	10,205	0.03%	flat	8q	-1.1%-$5.6K
ISHARES TR	GVI	$502.7K	4,881	0.03%	flat	2q	+6.0%+$28.3K
SCHWAB STRATEGIC TR	FNDX	$502.1K	15,691	0.03%	flat	8q	HELD
PRICE T ROWE GROUP INC	TROW	$501.0K	4,836	0.03%	-0.01pp	21q	-2.2%-$11.4K
EA SERIES TRUST	BOXX	$495.8K	4,185	0.03%	flat	11q	HELD
SPDR SERIES TRUST	QUS	$486.8K	2,511	0.03%	flat	21q	HELD
DIMENSIONAL ETF TRUST	DFLV	$486.8K	11,940	0.03%	flat	12q	-6.6%-$34.5K
ISHARES TR	IBMS	$476.9K	19,029	0.03%	-0.01pp	4q	-13.8%-$76.6K
THE CIGNA GROUP	CI	$466.7K	1,701	0.03%	flat	3q	+5.8%+$25.8K
BOEING CO	BA	$461.3K	2,430	0.03%	-0.01pp	9q	-1.1%-$4.9K
STEEL DYNAMICS INC	STLD	$460.6K	1,934	0.03%	flat	10q	HELD
VANGUARD WHITEHALL FDS	VYM	$458.0K	2,892	0.03%	flat	10q	HELD
ONEOK INC NEW	OKE	$451.4K	5,059	0.03%	-	new	NEW
CONSOLIDATED EDISON INC	ED	$447.6K	4,258	0.03%	flat	8q	+17.7%+$67.4K
INTUIT	INTU	$442.8K	1,528	0.03%	+0.01pp	2q	+92.7%+$213.0K
PARKER HANNIFIN CORP	PH	$429.4K	436	0.03%	flat	10q	+4.8%+$19.7K
NETFLIX INC.	NFLX	$420.3K	6,119	0.03%	flat	11q	-1.5%-$6.6K
ISHARES GOLD TR	IAU	$420.3K	5,363	0.03%	flat	8q	+6.7%+$26.6K
VERIZON COMMUNICATIONS INC	VZ	$418.6K	9,105	0.03%	flat	15q	+4.0%+$16.1K
GE AEROSPACE	GE	$414.0K	1,338	0.03%	-0.01pp	6q	-3.4%-$14.5K
BLACKROCK INC	BLK	$403.7K	374	0.03%	+0.01pp	7q	+31.7%+$97.1K
SMITH A O CORP	AOS	$396.3K	6,964	0.03%	-0.01pp	10q	-5.7%-$23.8K
ISHARES TR	HYG	$394.9K	5,111	0.03%	-	new	NEW
UNION PAC CORP	UNP	$394.7K	1,427	0.03%	flat	10q	+7.0%+$25.7K
CVS HEALTH CORP	CVS	$393.3K	4,551	0.03%	-0.01pp	5q	-1.4%-$5.7K
EOG RES INC	EOG	$390.4K	2,706	0.03%	flat	3q	+11.8%+$41.1K
SELECT SECTOR SPDR TR	XLE	$390.3K	6,123	0.03%	flat	2q	+6.1%+$22.4K
PROSHARES TR	SMDV	$387.4K	5,330	0.03%	flat	21q	-2.6%-$10.5K
ISHARES TR	IBTG	$386.7K	16,946	0.03%	flat	16q	-0.6%-$2.3K
VANGUARD WORLD FD	ESGV	$385.3K	2,783	0.02%	flat	10q	-2.6%-$10.1K
SELECT SECTOR SPDR TR	XLV	$382.1K	2,287	0.02%	-	new	NEW
DISNEY WALT CO	DIS	$380.8K	3,660	0.02%	flat	8q	+1.4%+$5.1K
PROVIDENT FINL SVCS INC	PFS	$380.7K	17,085	0.02%	flat	10q	+2.5%+$9.2K
KINDER MORGAN INC DEL	KMI	$380.1K	11,819	0.02%	-	new	NEW
SEAGATE TECHNOLOGY HLDNGS PL	STX	$379.5K	471	0.02%	flat	3q	+7.0%+$25.0K
XCEL ENERGY INC	XEL	$375.6K	5,164	0.02%	-0.01pp	8q	-3.9%-$15.3K
UNITED PARCEL SVCS INC	UPS	$375.0K	4,028	0.02%	-0.01pp	10q	+0.7%+$2.7K
Ovintiv Inc.	OVV	$374.8K	6,096	0.02%	flat	5q	-1.6%-$6.1K
ISHARES TR	IJT	$374.7K	2,285	0.02%	flat	10q	+25.3%+$75.8K
GE VERNOVA INC	GEV	$369.5K	359	0.02%	flat	3q	-2.7%-$10.3K
MCCORMICK & CO INC	MKC	$369.1K	8,130	0.02%	flat	10q	+2.8%+$10.2K
NATIONAL FUEL GAS CO	NFG	$361.0K	4,608	0.02%	flat	6q	+4.8%+$16.4K
ISHARES TR	IBTH	$358.5K	16,093	0.02%	flat	16q	-6.0%-$23.1K
YUM! BRANDS INC	YUM	$358.4K	2,563	0.02%	flat	10q	+0.7%+$2.7K
MARVELL TECHNOLOGY INC	MRVL	$357.3K	1,245	0.02%	+0.01pp	2q	+52.6%+$123.1K
STATE STR CORP	STT	$355.9K	2,025	0.02%	flat	5q	+1.8%+$6.3K
INVESCO EXCH TRADED FD TR II	PDN	$348.4K	7,553	0.02%	flat	21q	-1.5%-$5.4K
NOVARTIS AG	NVS	$346.3K	2,460	0.02%	flat	13q	-0.6%-$2.3K
AMPHENOL CORP	APH	$334.0K	3,769	0.02%	+0.01pp	3q	+26.0%+$68.9K
DIAMONDBACK ENERGY INC	FANG	$325.8K	1,761	0.02%	flat	6q	-1.0%-$3.1K
AMERICAN EXPRESS CO	AXP	$324.3K	1,065	0.02%	flat	6q	+6.0%+$18.3K
MPLX LP	MPLX	$322.1K	5,575	0.02%	-	new	NEW
ENERGY TRANSFER L P	ET	$319.6K	15,411	0.02%	-	new	NEW
ISHARES TR	IBTI	$312.0K	14,251	0.02%	flat	12q	-0.6%-$1.8K
UGI CORP NEW	UGI	$309.1K	8,319	0.02%	flat	10q	-3.2%-$10.2K
ISHARES TR	IVLU	$307.9K	7,183	0.02%	flat	17q	-2.3%-$7.3K
SPDR INDEX SHS FDS	GWX	$307.7K	6,716	0.02%	flat	2q	-3.5%-$11.3K
NORTHROP GRUMMAN CORP	NOC	$307.3K	636	0.02%	flat	5q	+30.9%+$72.5K
INVESCO EXCHANGE TRADED FD T	XLG	$306.9K	4,719	0.02%	flat	7q	-19.3%-$73.4K
REALTY INCOME CORP	O	$298.8K	5,507	0.02%	flat	10q	-1.6%-$4.7K
COMCAST CORP NEW	CMCSA	$296.3K	13,743	0.02%	-0.01pp	19q	-21.8%-$82.5K
ISHARES TR	ILCV	$294.4K	2,754	0.02%	flat	7q	HELD
PPG INDS INC	PPG	$286.9K	2,693	0.02%	flat	10q	-1.6%-$4.8K
TEXAS PACIFIC LAND CORPORATI	TPL	$279.9K	788	0.02%	flat	10q	+4.1%+$11.0K
STRYKER CORPORATION	SYK	$274.0K	985	0.02%	-0.01pp	6q	-7.2%-$21.1K
WEC ENERGY GROUP INC	WEC	$274.0K	2,655	0.02%	flat	8q	-1.9%-$5.3K
MICROCHIP TECHNOLOGY INC.	MCHP	$271.7K	3,343	0.02%	flat	3q	+10.9%+$26.7K
C H ROBINSON WORLDWIDE IN	CHRW	$270.1K	2,000	0.02%	-0.01pp	12q	HELD
ENTERPRISE PRODS PARTNERS L	EPD	$269.9K	7,245	0.02%	-	new	NEW
ISHARES TR	IMCG	$264.6K	2,719	0.02%	flat	7q	-2.6%-$7.2K
NORTHWEST NAT HLDG CO	NWN	$263.9K	5,560	0.02%	flat	11q	HELD
PINNACLE FINL PARTNERS INC	PNFP	$263.2K	2,738	0.02%	flat	3q	HELD
ISHARES TR	IBTJ	$262.9K	12,389	0.02%	flat	4q	HELD
CORNING INC	GLW	$262.6K	1,554	0.02%	flat	3q	+3.4%+$8.6K
PFIZER INC	PFE	$255.7K	9,299	0.02%	-0.01pp	10q	-43.3%-$195.6K
ISHARES TR	DIVB	$252.2K	3,868	0.02%	flat	3q	HELD
NORTHERN TR CORP	NTRS	$251.8K	1,486	0.02%	flat	3q	+3.1%+$7.5K
THERMO FISHER SCIENTIFIC INC	TMO	$250.8K	382	0.02%	-	new	NEW
FEDEX CORP	FDX	$249.1K	862	0.02%	flat	3q	+8.6%+$19.7K
PALO ALTO NETWORKS INC	PANW	$248.2K	591	0.02%	-	new	NEW
ISHARES TR	ICVT	$242.6K	2,124	0.02%	-0.01pp	11q	-28.4%-$96.4K
EVERGY INC	EVRG	$240.1K	2,988	0.02%	flat	5q	-6.5%-$16.6K
ISHARES TR	DSI	$239.4K	1,595	0.02%	flat	6q	-1.4%-$3.3K
DIGITAL RLTY TR INC	DLR	$234.3K	1,269	0.02%	flat	3q	+0.9%+$2.0K
SPDR SERIES TRUST	XAR	$230.1K	985	0.01%	-0.16pp	3q	-88.9%-$1.8M
ISHARES TR	ITA	$228.6K	1,098	0.01%	flat	5q	HELD
GLOBE LIFE INC	GL	$225.1K	1,354	0.01%	flat	3q	HELD
CAPITAL GROUP CORE EQUITY ET	CGUS	$224.6K	4,930	0.01%	flat	3q	HELD
ISHARES TR	SUSC	$224.3K	10,226	0.01%	flat	9q	+1.8%+$3.9K
CROWDSTRIKE HLDGS INC	CRWD	$222.3K	797	0.01%	-	new	NEW
SCHWAB STRATEGIC TR	SCHG	$220.3K	5,964	0.01%	flat	2q	HELD
ISHARES TR	IWL	$219.5K	1,129	0.01%	flat	3q	-26.0%-$77.2K
ENBRIDGE INC	ENB	$218.0K	4,685	0.01%	-	new	NEW
TRAVELERS COMPANIES INC	TRV	$211.0K	585	0.01%	-	new	NEW
MONOLITHIC PWR SYS INC	MPWR	$209.3K	142	0.01%	-	new	NEW
WASTE MGMT INC DEL	WM	$203.1K	977	0.01%	-	new	NEW
ISHARES TR	EAGG	$200.7K	4,445	0.01%	flat	2q	-0.7%-$1.4K
PLAINS ALL AMERN PIPELINE L	PAA	$200.1K	8,315	0.01%	-	new	NEW
Genesis Energy L.P.	GEL	$179.2K	12,550	0.01%	-	new	NEW
BIOMEA FUSION INC	BMEA	$19.8K	15,818	0.00%	flat	6q	HELD
HUMACYTE INC	HUMA	$7.2K	15,000	0.00%	flat	4q	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	$36.7M	2.4%
Biotech & Pharma	$31.5M	2.0%
Computer Hardware	$27.7M	1.8%
Retail & Consumer	$23.2M	1.5%
Other sectors	$160.0M	10.4%
Not classified	$1.3B	81.9%

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%	-2.4%	100%
Q2 2026	+10.5%	+14.8%	-4.4%	94%
Q1 2026	-1.5%	-4.6%	+3.1%	100%
Q4 2025	+1.8%	+2.4%	-0.6%	99%
Q3 2025	+6.1%	+7.8%	-1.7%	100%
Q2 2025	+6.4%	+10.5%	-4.1%	100%
Q1 2025	-1.2%	-4.6%	+3.3%	100%
Q4 2024	-1.8%	+2.1%	-3.9%	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	$1.5B	361	22	138	138	18	35.7%	19
Q2 2026	$1.5B	357	15	100	165	11	34.8%	16
Q1 2026	$1.5B	353	36	125	144	13	31.8%	29
Q4 2025	$1.4B	330	12	140	115	23	31.8%	41
Q3 2025	$1.3B	341	25	143	125	8	32.3%	31
Q2 2025	$1.2B	324	34	129	118	17	32.4%	42
Q1 2025	$1.1B	307	26	108	139	13	34.1%	42
Q4 2024	$1.1B	294	23	110	102	19	36.0%	21
Q3 2024	$1.2B	290	40	67	138	7	39.5%	43
Q2 2024	$1.2B	257	122	50	56	22	43.1%	44
Q1 2024	$594.8M	157	9	58	76	2	56.7%	45
Q4 2023	$555.4M	150	17	56	64	27	57.1%	44
Q3 2023	$627.6M	160	25	69	48	100	49.4%	45
Q2 2023	$782.8M	235	100	53	57	1	41.2%	21
Q1 2023	$549.8M	136	25	65	37	15	53.3%	35
Q4 2022	$440.7M	126	17	0	109	118	62.9%	44
Q3 2022	$434.8M	227	115	111	1	94	65.1%	31
Q2 2022	$653.6M	206	7	1	198	211	45.7%	47
Q1 2022	$23.0M	410	202	208	0	6	51.0%	57
Q4 2021	$744.7M	214	29	68	103	14	46.0%	45
Q3 2021	$729.8M	199	189	8	2	17	42.9%	50
Q2 2021	$109.7M	27	18	2	7	166	89.1%	21
Q4 2020	$627.7M	175	0	0	0	0	43.9%	42

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.