DaveManuel.com · Institutional Ownership · 13F Holdings
Next Level Private LLC
Reported holdings as of Q3 2026, from 20 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| AMERICAN CENTY ETF TR | QGRO | $45.0M | 384,263 | +0.11pp | 7q | +3.8%+$1.7M | |
| FIRST TR EXCHANGE TRADED FD | RDVY | $30.7M | 392,457 | -0.10pp | 14q | +3.7%+$1.1M | |
| APPLE INC | AAPL | $30.5M | 91,736 | +0.84pp | 20q | +3.2%+$939.4K | |
| DAVIS FUNDAMENTAL ETF TR | DUSA | $26.5M | 484,723 | +0.02pp | 17q | +4.9%+$1.2M | |
| FIRST TR EXCHANGE-TRADED FD | AIRR | $24.4M | 236,724 | -1.41pp | 12q | +1.0%+$252.4K | |
| JPMORGAN CHASE & CO | JPM | $19.2M | 57,953 | -0.03pp | 20q | HELD | |
| GE AEROSPACE | GE | $17.1M | 54,687 | -0.70pp | 17q | +0.6%+$96.2K | |
| PUTNAM ETF TRUST | PGRO | $14.5M | 301,933 | +0.28pp | 8q | +12.3%+$1.6M | |
| FRANKLIN TEMPLETON ETF TR | INCM | $13.4M | 470,403 | +0.09pp | 12q | +7.1%+$883.5K | |
| INVESCO EXCH TRADED FD TR II | SPMO | $13.2M | 87,191 | +0.39pp | 3q | +28.4%+$2.9M | |
| FIRST TR EXCHANGE-TRADED FD | FDL | $12.4M | 251,792 | -0.02pp | 16q | HELD | |
| GE VERNOVA INC | GEV | $12.1M | 12,761 | -0.59pp | 10q | +0.6%+$72.2K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $12.0M | 15,720 | +0.01pp | 20q | HELD | |
| AB ACTIVE ETFS INC | SYFI | $9.5M | 271,571 | +0.04pp | 6q | +6.7%+$594.1K | |
| ALPHABET INC | GOOG | $9.4M | 27,702 | -0.09pp | 20q | +0.7%+$61.0K | |
| MICROSOFT CORP | MSFT | $7.9M | 15,445 | +0.54pp | 20q | +14.8%+$1.0M | |
| ISHARES TR | IWF | $7.7M | 61,307 | -0.05pp | 17q | -2.5%-$197.9K | |
| BLACKROCK ETF TRUST | BALI | $7.0M | 203,727 | +0.05pp | 4q | +4.1%+$273.3K | |
| BOEING CO | BA | $6.7M | 36,175 | -0.22pp | 20q | +1.6%+$104.4K | |
| EXXONMOBIL HOLDINGS CORP | XOM | $6.7M | 41,336 | - | new | NEW | |
| DBX ETF TR | DBEF | $6.7M | 122,031 | -0.03pp | 10q | -0.7%-$47.5K | |
| MORGAN STANLEY | MS | $5.0M | 26,523 | -0.13pp | 17q | HELD | |
| ALPHABET INC | GOOGL | $4.9M | 14,259 | -0.01pp | 14q | +4.9%+$231.2K | |
| BRISTOL-MYERS SQUIBB CO | BMY | $4.6M | 73,856 | +0.06pp | 17q | +0.8%+$38.0K | |
| FIRST TR EXCHANGE-TRADED FD | KNG | $4.4M | 90,435 | -0.03pp | 11q | +3.7%+$153.5K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $4.3M | 19,455 | -0.45pp | 17q | -15.8%-$805.6K | |
| CARLISLE COS INC | CSL | $4.0M | 12,345 | -0.11pp | 17q | HELD | |
| DAVIS FUNDAMENTAL ETF TR | DFNL | $3.9M | 80,971 | -0.03pp | 17q | HELD | |
| BNY MELLON ETF TRUST II | BKDV | $3.8M | 114,168 | +0.11pp | 6q | +18.5%+$602.0K | |
| FIRST TR EXCHANGE-TRADED FD | FDD | $3.7M | 192,008 | +0.02pp | 15q | +1.0%+$34.8K | |
| AMAZON COM INC | AMZN | $3.7M | 14,728 | +0.07pp | 14q | +8.4%+$283.3K | |
| BLACKSTONE INC | BX | $3.5M | 31,454 | -0.06pp | 20q | -1.2%-$44.3K | |
| BROADCOM INC | AVGO | $3.4M | 9,772 | -0.03pp | 11q | +5.3%+$173.1K | |
| FIRST TR EXCHANGE-TRADED FD | FVD | $3.3M | 70,604 | -0.03pp | 17q | HELD | |
| MERCK & CO INC | MRK | $3.0M | 20,716 | +0.06pp | 20q | +0.7%+$20.5K | |
| FIRST TR EXCHANGE-TRADED FD | DOGG | $2.9M | 137,672 | +0.09pp | 10q | +23.3%+$546.2K | |
| AT&T INC | T | $2.9M | 117,978 | +0.08pp | 17q | +1.6%+$45.4K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $2.8M | 5,718 | -0.01pp | 14q | +1.1%+$32.4K | |
| ALTRIA GROUP INC | MO | $2.8M | 42,130 | -0.04pp | 17q | +1.0%+$29.0K | |
| VANGUARD INDEX FDS | VTV | $2.8M | 12,793 | -0.02pp | 20q | -0.8%-$22.3K | |
| ADVANCED MICRO DEVICES INC | AMD | $2.8M | 4,507 | +0.03pp | 11q | +1.6%+$43.4K | |
| NVIDIA CORPORATION | NVDA | $2.7M | 11,782 | +0.18pp | 14q | +38.7%+$750.7K | |
| SELECT SECTOR SPDR TR | XLF | $2.7M | 49,827 | -0.01pp | 17q | HELD | |
| ISHARES TR | IVW | $2.4M | 17,061 | +0.01pp | 16q | +0.5%+$13.2K | |
| WISDOMTREE TR | DXJ | $2.4M | 13,017 | +0.01pp | 20q | HELD | |
| APPLIED MATLS INC | AMAT | $2.3M | 4,528 | -0.19pp | 11q | +1.0%+$22.5K | |
| FORD MTR CO | F | $2.3M | 189,881 | -0.07pp | 17q | HELD | |
| VANGUARD INDEX FDS | VUG | $2.3M | 24,990 | +0.01pp | 14q | HELD | |
| DOW HLDGS INC | DOW | $2.2M | 81,015 | flat | 14q | HELD | |
| ISHARES TR | IWD | $2.2M | 8,979 | flat | 17q | HELD | |
| ISHARES TR | IVV | $2.2M | 2,900 | -0.01pp | 14q | -1.9%-$42.1K | |
| VANGUARD INDEX FDS | VO | $2.1M | 26,586 | -0.02pp | 20q | HELD | |
| VANGUARD SCOTTSDALE FDS | VONG | $2.0M | 15,618 | -0.01pp | 16q | -0.8%-$16.0K | |
| PFIZER INC | PFE | $2.0M | 68,762 | +0.05pp | 20q | -0.8%-$15.5K | |
| BANK OF AMER CORP | BAC | $2.0M | 35,859 | +0.04pp | 20q | +19.6%+$319.6K | |
| HOME DEPOT INC | HD | $1.9M | 6,809 | -0.10pp | 20q | -1.3%-$24.8K | |
| HERSHEY CO | HSY | $1.9M | 12,251 | -0.05pp | 16q | HELD | |
| ABRDN HEALTHCARE OPPORTUNITI | THQ | $1.8M | 98,354 | +0.01pp | 17q | +5.7%+$97.6K | |
| VANGUARD INDEX FDS | VTI | $1.8M | 4,754 | -0.01pp | 20q | -0.9%-$15.3K | |
| PACER FDS TR | COWZ | $1.7M | 25,416 | +0.02pp | 16q | +0.6%+$10.2K | |
| SHELL PLC | SHEL | $1.7M | 17,436 | +0.06pp | 19q | +1.9%+$30.4K | |
| MORGAN STANLEY ETF TRUST | XAGG | $1.7M | 34,347 | +0.04pp | 3q | +21.5%+$292.7K | |
| FIRST TR EXCHANGE-TRADED FD | RDVI | $1.5M | 54,062 | flat | 10q | +8.9%+$123.0K | |
| CALAMOS ETF TR | CAIE | $1.4M | 51,190 | +0.12pp | 4q | +88.0%+$637.7K | |
| VISA INC | V | $1.3M | 3,699 | +0.02pp | 11q | +7.0%+$87.0K | |
| AMERICAN EXPRESS CO | AXP | $1.3M | 4,347 | -0.03pp | 14q | HELD | |
| JOHNSON & JOHNSON | JNJ | $1.3M | 4,974 | +0.01pp | 12q | +0.9%+$11.1K | |
| FIRST TR EXCHANGE-TRADED FD | SDVD | $1.3M | 58,616 | +0.01pp | 10q | +12.2%+$137.9K | |
| META PLATFORMS INC | META | $1.3M | 1,731 | +0.08pp | 11q | +16.2%+$174.8K | |
| CHEVRON CORPORATION | CVX | $1.2M | 5,888 | +0.04pp | 14q | HELD | |
| ISHARES TR | DVY | $1.1M | 7,383 | -0.02pp | 12q | -2.5%-$28.7K | |
| BLACKROCK ENHANCED LARGE CAP | CII | $1.1M | 46,642 | -0.02pp | 17q | +1.0%+$11.1K | |
| ABBVIE INC | ABBV | $1.1M | 4,276 | flat | 14q | -2.8%-$31.9K | |
| SALESFORCE INC | CRM | $1.1M | 4,714 | +0.13pp | 3q | +80.0%+$481.0K | |
| WISDOMTREE TR | DEM | $1.1M | 19,290 | flat | 17q | +0.8%+$8.0K | |
| FIRST TR EXCHANGE-TRADED FD | HYTI | $1.0M | 56,415 | +0.01pp | 4q | +11.6%+$107.6K | |
| VERIZON COMMUNICATIONS INC | VZ | $1.0M | 22,477 | +0.02pp | 20q | +2.3%+$22.9K | |
| AB ACTIVE ETFS INC | ILOW | $1.0M | 22,142 | flat | 5q | -0.8%-$7.8K | |
| DBX ETF TR | DBJP | $995.0K | 8,534 | flat | 14q | HELD | |
| ISHARES TR | IJH | $991.1K | 13,775 | -0.02pp | 14q | -0.8%-$8.1K | |
| CITIGROUP INC | C | $984.9K | 7,606 | -0.02pp | 14q | HELD | |
| CATERPILLAR INC | CAT | $964.8K | 1,190 | -0.06pp | 14q | HELD | |
| INVESCO EXCH TRADED FD TR II | IDMO | $951.0K | 15,580 | flat | 3q | HELD | |
| ISHARES TR | IWB | $945.0K | 2,271 | flat | 14q | HELD | |
| ELI LILLY & CO | LLY | $938.4K | 811 | +0.01pp | 14q | +11.9%+$99.5K | |
| SEAGATE TECHNOLOGY HLDNGS PL | STX | $933.4K | 1,012 | -0.01pp | 5q | HELD | |
| PRINCIPAL EXCHANGE TRADED FD | PIEQ | $914.3K | 25,389 | flat | 4q | HELD | |
| AB ACTIVE ETFS INC | YEAR | $901.3K | 17,998 | +0.08pp | 4q | +91.0%+$429.5K | |
| MARATHON PETE CORP | MPC | $866.1K | 2,190 | +0.06pp | 11q | HELD | |
| ISHARES TR | IWR | $847.9K | 7,946 | -0.01pp | 14q | HELD | |
| GOLDMAN SACHS ETF TR | GPIX | $830.2K | 14,870 | flat | 7q | +2.7%+$21.4K | |
| ISHARES TR | IYW | $824.1K | 3,111 | flat | 11q | HELD | |
| CORPAY INC | CPAY | $815.7K | 2,099 | +0.02pp | 11q | HELD | |
| TARGA RES CORP | TRGP | $805.0K | 2,978 | flat | 14q | HELD | |
| VANGUARD INDEX FDS | VOE | $790.9K | 4,045 | flat | 14q | +0.5%+$4.1K | |
| BLACKROCK SCIENCE & TECHNOLO | BST | $779.1K | 15,592 | flat | 17q | +2.8%+$20.9K | |
| DEERE CO | DE | $762.2K | 1,135 | +0.01pp | 14q | +3.5%+$25.5K | |
| CISCO SYS INC | CSCO | $752.8K | 6,994 | -0.02pp | 14q | HELD | |
| ISHARES INC | EPP | $752.4K | 13,673 | flat | 16q | HELD | |
| COLUMBIA ETF TR I | SEMI | $736.6K | 18,365 | flat | 15q | HELD | |
| SARATOGA INVT CORP | SAR | $725.2K | 43,527 | -0.05pp | 17q | HELD | |
| BANK OF NY MELLON CORP | BNY | $705.7K | 4,880 | flat | 12q | HELD | |
| ISHARES TR | ITOT | $698.0K | 4,198 | -0.01pp | 9q | -5.1%-$37.4K | |
| MORGAN STANLEY ETF TRUST | EVLN | $696.0K | 14,367 | +0.05pp | 7q | +57.5%+$254.0K | |
| SELECT SECTOR SPDR TR | XLE | $653.9K | 10,632 | +0.02pp | 11q | +0.6%+$4.0K | |
| GOLDMAN SACHS GROUP INC | GS | $648.0K | 720 | -0.02pp | 12q | HELD | |
| FIDELITY COVINGTON TRUST | FESM | $630.6K | 14,028 | - | new | NEW | |
| VANGUARD WHITEHALL FDS | VYM | $622.1K | 4,008 | flat | 14q | HELD | |
| GABELLI ETFS TRUST | GOLS | $620.8K | 24,225 | +0.06pp | 2q | +110.8%+$326.3K | |
| VANGUARD INDEX FDS | VOO | $605.1K | 863 | -0.02pp | 14q | -13.8%-$96.8K | |
| VANGUARD TAX-MANAGED FDS | VEA | $591.2K | 8,373 | -0.01pp | 14q | -5.7%-$36.0K | |
| TORONTO DOMINION BK ONT | TD | $590.4K | 5,023 | -0.01pp | 4q | HELD | |
| AMERICAN CENTY ETF TR | AVUV | $582.5K | 4,946 | +0.02pp | 12q | +27.3%+$124.8K | |
| ENTERPRISE PRODS PARTNERS L | EPD | $578.9K | 16,256 | flat | 16q | +1.4%+$7.8K | |
| UNITEDHEALTH GROUP INC | UNH | $577.2K | 1,572 | -0.01pp | 7q | +4.5%+$25.0K | |
| COCA COLA CO | KO | $559.3K | 6,498 | +0.01pp | 14q | +4.7%+$25.2K | |
| INVESCO QQQ TR | QQQ | $537.9K | 727 | flat | 5q | HELD | |
| WALMART INC | WMT | $530.8K | 5,108 | -0.01pp | 9q | +2.2%+$11.6K | |
| VANGUARD WORLD FD | VGT | $526.2K | 4,188 | flat | 6q | -2.0%-$10.7K | |
| PGIM ETF TR | PULS | $522.9K | 10,573 | - | new | NEW | |
| PACER FDS TR | ICOW | $517.7K | 12,308 | flat | 14q | +2.0%+$10.2K | |
| HARRIS OAKMARK ETF TRUST | OAKM | $478.8K | 16,309 | flat | 6q | HELD | |
| VANGUARD INDEX FDS | VXF | $477.3K | 2,060 | -0.01pp | 14q | HELD | |
| SERVICENOW INC | NOW | $472.8K | 3,528 | - | new | NEW | |
| COSTCO WHOLESALE CORPORATION | COST | $443.2K | 487 | flat | 10q | +4.5%+$19.1K | |
| COHEN & STEERS QUALITY INCOM | RQI | $427.1K | 39,185 | -0.01pp | 17q | +1.3%+$5.4K | |
| PUTNAM ETF TRUST | PVAL | $423.9K | 8,055 | +0.02pp | 9q | +34.2%+$108.1K | |
| FIRST TR EXCHANGE TRADED FD | DGLO | $421.7K | 18,876 | +0.03pp | 3q | +74.1%+$179.5K | |
| VANGUARD INDEX FDS | VBR | $417.7K | 1,808 | -0.01pp | 14q | -1.0%-$4.4K | |
| WISDOMTREE TR | HEDJ | $406.1K | 7,322 | flat | 14q | HELD | |
| WELLS FARGO & CO | WFC | $395.4K | 4,939 | +0.01pp | 7q | +21.7%+$70.6K | |
| CORNING INC | GLW | $393.1K | 2,556 | -0.07pp | 3q | -9.5%-$41.4K | |
| CRITICAL METALS CORP | CRML | $391.7K | 53,955 | -0.03pp | 4q | HELD | |
| ISHARES TR | EFA | $381.1K | 3,669 | flat | 14q | HELD | |
| PHILIP MORRIS INTL INC | PM | $379.5K | 1,989 | flat | 5q | +1.9%+$7.3K | |
| VANGUARD INDEX FDS | VV | $363.8K | 1,034 | flat | 14q | HELD | |
| PALO ALTO NETWORKS INC | PANW | $361.2K | 909 | +0.03pp | 2q | +50.5%+$121.2K | |
| QUANTA SVCS INC | PWR | $356.6K | 555 | flat | 5q | +11.0%+$35.3K | |
| PACCAR INC | PCAR | $345.5K | 3,146 | -0.01pp | 11q | HELD | |
| TEXAS PACIFIC LAND CORPORATI | TPL | $325.8K | 1,000 | -0.02pp | 10q | HELD | |
| ISHARES TR | MUB | $313.6K | 3,102 | flat | 10q | +0.8%+$2.5K | |
| ICAHN ENTERPRISES LP | IEP | $311.4K | 46,137 | flat | 2q | +15.3%+$41.2K | |
| HOWMET AEROSPACE INC | HWM | $310.8K | 1,374 | -0.01pp | 6q | HELD | |
| TESLA INC | TSLA | $309.4K | 872 | -0.01pp | 3q | +6.6%+$19.2K | |
| SPDR SERIES TRUST | SHM | $308.8K | 6,619 | flat | 10q | +0.7%+$2.1K | |
| VANGUARD SPECIALIZED FUNDS | VIG | $304.5K | 1,305 | flat | 11q | HELD | |
| PHILLIPS 66 | PSX | $300.5K | 1,177 | - | new | NEW | |
| ISHARES TR | EFV | $299.4K | 3,783 | flat | 3q | +1.0%+$2.8K | |
| WOLFSPEED INC | WOLF | $291.1K | 10,347 | -0.03pp | 2q | +14.9%+$37.8K | |
| ESQUIRE FINL HLDGS INC | ESQ | $290.9K | 2,500 | flat | 6q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | SDVY | $282.7K | 6,967 | flat | 7q | HELD | |
| ALPS ETF TR | OUSA | $276.0K | 4,641 | flat | 12q | HELD | |
| TRUIST FINL CORP | TFC | $275.4K | 5,949 | flat | 11q | +3.2%+$8.7K | |
| FIRST TR EXCHNG TRADED FD VI | GJUL | $272.3K | 6,110 | flat | 5q | HELD | |
| PGIM ETF TR | PJIO | $266.4K | 4,248 | flat | 6q | +10.0%+$24.3K | |
| INTEL CORP | INTC | $265.5K | 2,208 | -0.01pp | 20q | +4.7%+$12.0K | |
| ISHARES TR | DGRO | $264.3K | 3,506 | flat | 3q | HELD | |
| VANGUARD WORLD FD | VHT | $262.8K | 831 | flat | 12q | HELD | |
| NORTHWEST BANCSHARES INC | NWBI | $262.7K | 17,704 | flat | 16q | +1.3%+$3.3K | |
| SPDR SERIES TRUST | SPYM | $256.1K | 2,853 | +0.01pp | 2q | +12.5%+$28.4K | |
| ENERGY TRANSFER L P | ET | $251.7K | 12,733 | - | new | NEW | |
| ISHARES TR | IBB | $251.2K | 1,193 | flat | 4q | HELD | |
| ANNALY CAPITAL MANAGEMENT IN | NLY | $248.0K | 13,128 | flat | 7q | +10.3%+$23.2K | |
| SPDR SERIES TRUST | KRE | $247.9K | 3,570 | flat | 9q | HELD | |
| CALAMOS ETF TR | CPSA | $244.9K | 8,715 | - | new | NEW | |
| CVS HEALTH CORP | CVS | $244.9K | 2,858 | -0.01pp | 2q | +8.1%+$18.3K | |
| CALAMOS ETF TR | CPSN | $236.6K | 8,385 | flat | 4q | HELD | |
| EATON VANCE TAX ADVT DIV INC | EVT | $235.4K | 8,434 | flat | 2q | +1.8%+$4.1K | |
| DISNEY WALT CO | DIS | $234.7K | 2,237 | +0.01pp | 2q | +6.4%+$14.2K | |
| 3M CO | MMM | $224.4K | 1,367 | flat | 2q | +2.1%+$4.6K | |
| CONSOLIDATED EDISON INC | ED | $222.2K | 2,174 | flat | 3q | +5.4%+$11.4K | |
| GOLDMAN SACHS ETF TR | GPIQ | $222.0K | 3,830 | - | new | NEW | |
| DOUBLELINE INCOME SOLUTIONS | DSL | $221.8K | 22,180 | flat | 17q | +2.7%+$5.8K | |
| GLOBALSTAR INC | GSAT | $221.0K | 2,666 | - | new | NEW | |
| BLACKROCK INC | BLK | $220.3K | 208 | - | new | NEW | |
| EVERPURE INC | P | $218.9K | 1,674 | - | new | NEW | |
| BLACKROCK ETF TRUST | DYNF | $218.7K | 3,157 | flat | 2q | +4.8%+$10.0K | |
| PALANTIR TECHNOLOGIES INC | PLTR | $217.7K | 1,164 | - | new | NEW | |
| MASTERCARD INCORPORATED | MA | $217.3K | 394 | - | new | NEW | |
| CALAMOS ETF TR | CPST | $216.2K | 7,693 | - | new | NEW | |
| ISHARES TR | IVE | $213.2K | 934 | flat | 3q | +4.5%+$9.1K | |
| PEPSICO INC | PEP | $210.2K | 1,659 | flat | 3q | HELD | |
| ABBOTT LABORATORIES | ABT | $206.6K | 2,091 | - | new | NEW | |
| NUVEEN NASDAQ 100 DYNAMIC OV | QQQX | $202.2K | 6,644 | - | new | NEW | |
| FIDELITY COVINGTON TRUST | FELC | $201.0K | 4,641 | - | new | NEW | |
| SANDRIDGE ENERGY INC | SD | $196.9K | 14,595 | flat | 16q | HELD | |
| LARIMAR THERAPEUTICS INC | LRMR | $133.2K | 41,700 | flat | 6q | HELD | |
| PROSPECT CAP CORP | PSEC | $48.1K | 23,133 | flat | 16q | +5.1%+$2.3K |
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 | $41.0M | 7.9% |
| Computer Hardware | $37.1M | 7.1% |
| Banks & Lending | $26.0M | 5.0% |
| Software & IT Services | $25.3M | 4.9% |
| Funds & ETFs | $17.6M | 3.4% |
| Biotech & Pharma | $13.3M | 2.6% |
| Energy | $12.9M | 2.5% |
| Autos & Aerospace | $9.7M | 1.9% |
| Capital Markets | $9.4M | 1.8% |
| Other sectors | $33.3M | 6.4% |
| Not classified | $294.4M | 56.6% |
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 | -2.9% | +2.1% | -5.0% | 97% |
| Q2 2026 | +12.9% | +14.8% | -1.9% | 100% |
| Q1 2026 | -0.4% | -4.6% | +4.3% | 100% |
| Q4 2025 | +3.1% | +2.4% | +0.7% | 99% |
| Q3 2025 | +7.9% | +7.8% | +0.0% | 100% |
| Q2 2025 | +9.3% | +10.5% | -1.2% | 100% |
| Q1 2025 | -1.1% | -4.6% | +3.5% | 100% |
| Q4 2024 | +0.5% | +2.1% | -1.6% | 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 | $519.8M | 188 | 17 | 91 | 20 | 3 | 45.1% | 20 |
| Q2 2026 | $510.5M | 174 | 11 | 63 | 49 | 12 | 46.4% | 9 |
| Q1 2026 | $442.7M | 175 | 23 | 92 | 16 | 9 | 45.0% | 23 |
| Q4 2025 | $381.5M | 161 | 14 | 63 | 34 | 9 | 45.0% | 7 |
| Q3 2025 | $344.9M | 156 | 9 | 72 | 28 | 3 | 43.6% | 23 |
| Q2 2025 | $307.2M | 150 | 14 | 55 | 27 | 4 | 42.7% | 8 |
| Q1 2025 | $268.4M | 140 | 12 | 52 | 19 | 4 | 40.0% | 11 |
| Q4 2024 | $247.9M | 132 | 4 | 42 | 19 | 15 | 39.6% | 22 |
| Q3 2024 | $244.1M | 143 | 11 | 57 | 15 | 1 | 39.5% | 10 |
| Q2 2024 | $218.7M | 133 | 10 | 45 | 28 | 8 | 40.3% | 33 |
| Q1 2024 | $217.8M | 131 | 24 | 46 | 20 | 1 | 41.5% | 15 |
| Q4 2023 | $176.5M | 108 | 10 | 23 | 25 | 3 | 45.4% | 18 |
| Q3 2023 | $150.8M | 101 | 1 | 34 | 9 | 4 | 47.1% | 10 |
| Q2 2023 | $154.6M | 104 | 42 | 27 | 6 | 0 | 48.0% | 14 |
| Q1 2023 | $127.1M | 62 | 3 | 18 | 12 | 40 | 53.9% | 10 |
| Q4 2022 | $135.9M | 99 | 21 | 27 | 14 | 4 | 46.5% | 26 |
| Q3 2022 | $113.6M | 82 | 51 | 17 | 14 | 101 | 51.8% | 21 |
| Q2 2022 | $261.5M | 132 | 102 | 15 | 15 | 59 | 54.1% | 40 |
| Q1 2022 | $123.8M | 89 | 8 | 42 | 9 | 4 | 49.0% | 35 |
| Q4 2021 | $119.2M | 85 | 0 | 0 | 0 | 0 | 49.6% | 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.