DaveManuel.com · Institutional Ownership · 13F Holdings
Marion Wealth Management
Reported holdings as of Q3 2026, from 20 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| VANGUARD SCOTTSDALE FDS | VCIT | $43.3M | 553,331 | -0.26pp | 20q | +5.8%+$2.4M | |
| ISHARES TR | IEFA | $34.2M | 353,503 | -0.01pp | 17q | +2.8%+$948.9K | |
| ISHARES INC | IEMG | $21.7M | 267,118 | -0.14pp | 20q | +2.3%+$478.8K | |
| INVESCO ACTVELY MNGD ETC FD | PDBC | $21.1M | 1,090,740 | +0.67pp | 20q | +1.6%+$326.3K | |
| VANGUARD INDEX FDS | VOT | $18.8M | 64,360 | -0.21pp | 20q | +2.5%+$460.6K | |
| UBS AG LONDON BRANCH | MLPB | $17.7M | 606,959 | -0.02pp | 20q | +1.4%+$251.6K | |
| WISDOMTREE TR | DON | $17.6M | 327,099 | -0.18pp | 20q | +3.0%+$507.7K | |
| VANGUARD WHITEHALL FDS | VWOB | $13.6M | 215,000 | -0.13pp | 17q | +4.8%+$625.1K | |
| APPLE INC | AAPL | $13.5M | 40,625 | +0.25pp | 20q | -0.7%-$95.9K | |
| VANGUARD SCOTTSDALE FDS | VGIT | $12.1M | 213,538 | -0.06pp | 12q | +5.1%+$589.2K | |
| VANGUARD INDEX FDS | VBK | $11.1M | 32,834 | -0.22pp | 20q | +1.7%+$190.2K | |
| ISHARES TR | IWN | $10.9M | 51,950 | -0.18pp | 20q | +0.9%+$91.9K | |
| VANGUARD SCOTTSDALE FDS | VCSH | $10.4M | 134,685 | -0.09pp | 20q | +1.5%+$154.8K | |
| INVESCO EXCHANGE TRADED FD T | PRF | $9.4M | 173,255 | -0.03pp | 20q | +0.8%+$71.2K | |
| SPDR SERIES TRUST | SPYG | $9.4M | 76,548 | +0.01pp | 20q | HELD | |
| MICROSOFT CORP | MSFT | $8.8M | 17,155 | +0.44pp | 20q | +0.9%+$80.0K | |
| VANGUARD SCOTTSDALE FDS | VMBS | $8.2M | 183,950 | -0.06pp | 12q | +4.8%+$371.4K | |
| VANGUARD WORLD FD | VGT | $7.4M | 58,994 | +0.02pp | 20q | HELD | |
| ANALOG DEVICES INC | ADI | $7.3M | 18,287 | -0.02pp | 20q | +1.9%+$136.1K | |
| DBX ETF TR | HYLB | $7.2M | 203,865 | -0.05pp | 17q | +3.7%+$254.5K | |
| FIRST TR EXCH TRADED FD III | FPE | $7.0M | 409,277 | -0.05pp | 12q | +4.7%+$312.4K | |
| VANGUARD SCOTTSDALE FDS | VCLT | $6.4M | 94,008 | -0.08pp | 12q | +6.8%+$408.1K | |
| ALPHABET INC | GOOGL | $6.3M | 18,415 | -0.07pp | 20q | +1.3%+$81.2K | |
| META PLATFORMS INC | META | $5.7M | 7,928 | +0.25pp | 20q | +3.4%+$188.5K | |
| SALESFORCE INC | CRM | $5.3M | 22,886 | +0.32pp | 11q | +1.8%+$92.7K | |
| ISHARES TR | SGOV | $5.2M | 51,718 | -0.03pp | 12q | +0.7%+$34.2K | |
| JPMORGAN CHASE & CO | JPM | $5.2M | 15,684 | -0.01pp | 20q | +0.9%+$47.6K | |
| VANGUARD SCOTTSDALE FDS | VGSH | $5.0M | 86,337 | -0.02pp | 12q | +2.1%+$104.4K | |
| ELI LILLY & CO | LLY | $4.4M | 3,808 | -0.05pp | 12q | +1.2%+$54.4K | |
| ACCENTURE PLC IRELAND | ACN | $4.4M | 24,025 | +0.28pp | 20q | +4.4%+$186.5K | |
| NVIDIA CORPORATION | NVDA | $4.4M | 19,208 | +0.09pp | 20q | +0.9%+$39.5K | |
| AMAZON COM INC | AMZN | $4.4M | 17,559 | +0.02pp | 20q | +1.4%+$58.8K | |
| ISHARES TR | IBB | $4.2M | 19,807 | +0.06pp | 20q | HELD | |
| MASTERCARD INCORPORATED | MA | $3.6M | 6,580 | +0.04pp | 20q | +1.4%+$50.7K | |
| SELECT SECTOR SPDR TR | XLV | $3.6M | 21,430 | +0.03pp | 20q | +1.3%+$47.0K | |
| SELECT SECTOR SPDR TR | XLC | $3.5M | 31,696 | +0.02pp | 20q | +2.3%+$79.9K | |
| QUEST DIAGNOSTICS INC | DGX | $3.4M | 14,584 | +0.05pp | 6q | +1.3%+$45.2K | |
| PHILLIPS 66 | PSX | $3.4M | 13,152 | +0.20pp | 20q | -1.1%-$38.3K | |
| STATE STR SPDR S&P 500 ETF T PUT | SPY | $3.3M | 1,781 | +0.14pp | 18q | HELD | |
| CBOE GLOBAL MKTS INC | CBOE | $3.1M | 11,276 | +0.07pp | 20q | +2.7%+$82.6K | |
| BLACKROCK INC | BLK | $3.1M | 2,911 | +0.05pp | 8q | +2.5%+$74.1K | |
| SELECT SECTOR SPDR TR | XLY | $3.1M | 28,107 | -0.05pp | 20q | +2.6%+$77.9K | |
| MCKESSON CORP | MCK | $3.0M | 3,476 | +0.06pp | 6q | +2.9%+$84.5K | |
| PROFESIONALLY MANAGED PORTFO | AKRE | $2.9M | 54,413 | -0.02pp | 4q | +0.7%+$20.1K | |
| QUANTA SVCS INC | PWR | $2.8M | 4,396 | -0.08pp | 12q | +1.9%+$51.4K | |
| TJX COS INC NEW | TJX | $2.8M | 21,171 | -0.07pp | 12q | +4.6%+$124.1K | |
| COSTCO WHOLESALE CORPORATION | COST | $2.6M | 2,892 | -0.01pp | 17q | +4.6%+$115.6K | |
| STARBUCKS CORP | SBUX | $2.6M | 28,008 | -0.06pp | 20q | HELD | |
| DEERE CO | DE | $2.6M | 3,852 | +0.02pp | 20q | +1.0%+$26.9K | |
| BLACKSTONE INC | BX | $2.5M | 22,423 | -0.03pp | 18q | +2.7%+$65.1K | |
| SELECT SECTOR SPDR TR | XLE | $2.4M | 39,474 | +0.06pp | 20q | +1.2%+$29.4K | |
| COCA COLA CO | KO | $2.4M | 27,790 | +0.02pp | 11q | +2.0%+$47.3K | |
| HOME DEPOT INC | HD | $2.3M | 8,226 | -0.11pp | 20q | +4.3%+$97.3K | |
| T MOBILE US INC | TMUS | $2.2M | 13,709 | flat | 6q | +6.1%+$128.5K | |
| CONOCOPHILLIPS | COP | $2.2M | 17,713 | +0.07pp | 18q | +2.0%+$42.4K | |
| PROCTER & GAMBLE CO | PG | $2.2M | 15,088 | flat | 17q | +3.3%+$70.6K | |
| EOG RES INC | EOG | $2.2M | 15,650 | +0.02pp | 20q | +2.0%+$43.1K | |
| SELECT SECTOR SPDR TR | XLI | $2.0M | 12,028 | -0.05pp | 20q | +1.8%+$35.1K | |
| UNION PAC CORP | UNP | $1.9M | 6,974 | -0.01pp | 20q | +1.5%+$27.5K | |
| VANGUARD WORLD FD | VDC | $1.8M | 8,443 | -0.01pp | 20q | +2.8%+$50.2K | |
| ALPHABET INC | GOOG | $1.8M | 5,384 | -0.03pp | 13q | HELD | |
| J P MORGAN EXCHANGE TRADED F | JMUB | $1.8M | 37,367 | +0.04pp | 12q | +22.4%+$325.7K | |
| BROADCOM INC | AVGO | $1.7M | 4,878 | -0.03pp | 11q | +1.3%+$21.4K | |
| FIRST TR EXCHANGE-TRADED FD | IGLD | $1.6M | 80,756 | flat | 12q | +5.9%+$90.8K | |
| CATERPILLAR INC | CAT | $1.6M | 2,005 | -0.08pp | 20q | +8.6%+$128.1K | |
| LINDE PLC | LIN | $1.6M | 3,393 | -0.03pp | 6q | +3.3%+$51.3K | |
| VANGUARD SCOTTSDALE FDS | VGLT | $1.6M | 32,113 | -0.03pp | 12q | +5.4%+$82.1K | |
| PNC FINL SVCS GROUP INC | PNC | $1.6M | 7,188 | -0.05pp | 18q | HELD | |
| NEXTERA ENERGY INC | NEE | $1.6M | 21,010 | -0.05pp | 20q | +3.0%+$46.4K | |
| SPDR SERIES TRUST | BIL | $1.6M | 17,115 | +0.01pp | 4q | +5.5%+$82.1K | |
| FLEXSTEEL INDS INC | FLXS | $1.5M | 18,025 | -0.09pp | 18q | -29.4%-$634.9K | |
| ISHARES TR | IVV | $1.5M | 1,968 | flat | 20q | +2.8%+$40.6K | |
| ORACLE CORP | ORCL | $1.5M | 10,828 | -0.08pp | 14q | -12.8%-$217.4K | |
| NORTHROP GRUMMAN CORP | NOC | $1.5M | 3,043 | -0.01pp | 20q | +4.0%+$56.6K | |
| ARISTA NETWORKS INC PUT | ANET | $1.5M | 6,145 | +0.04pp | 5q | -1.8%-$27.2K | |
| VANGUARD INDEX FDS | VUG | $1.4M | 15,912 | flat | 20q | HELD | |
| VULCAN MATLS CO | VMC | $1.4M | 5,746 | -0.06pp | 8q | +3.6%+$49.2K | |
| EQUINIX INC | EQIX | $1.4M | 1,380 | -0.01pp | 20q | +2.0%+$27.3K | |
| AMERICAN ELEC PWR CO INC | AEP | $1.4M | 11,416 | -0.04pp | 7q | +3.3%+$43.1K | |
| UNITED PARCEL SVCS INC | UPS | $1.3M | 13,471 | -0.08pp | 20q | -9.9%-$137.8K | |
| AMERICAN TOWER CORP | AMT | $1.2M | 7,339 | flat | 20q | +4.1%+$46.8K | |
| PALO ALTO NETWORKS INC CALL | PANW | $1.1M | 2,650 | +0.01pp | 9q | -6.9%-$81.2K | |
| J P MORGAN EXCHANGE TRADED F | JMST | $1.0M | 20,326 | -0.01pp | 10q | HELD | |
| EXXONMOBIL HOLDINGS CORP | XOM | $989.2K | 6,078 | - | new | NEW | |
| VANGUARD INDEX FDS | VBR | $984.4K | 4,261 | -0.02pp | 6q | HELD | |
| ISHARES TR | AOA | $851.4K | 8,753 | flat | 16q | +3.5%+$29.1K | |
| J P MORGAN EXCHANGE TRADED F | JEPI | $843.4K | 15,001 | -0.01pp | 14q | -2.4%-$20.5K | |
| STATE STR SPDR S&P MIDCAP 40 | MDY | $780.9K | 1,189 | -0.02pp | 16q | HELD | |
| CONSTELLATION ENERGY CORP | CEG | $698.7K | 2,750 | +0.01pp | 11q | +5.0%+$33.5K | |
| VANGUARD BD INDEX FDS | BND | $696.5K | 9,929 | -0.01pp | 12q | +4.0%+$26.5K | |
| SPDR SERIES TRUST | SPIB | $679.3K | 21,045 | flat | 18q | +3.7%+$24.4K | |
| VANGUARD INDEX FDS | VO | $576.2K | 7,348 | -0.01pp | 6q | HELD | |
| WISDOMTREE TR | HEDJ | $567.5K | 10,232 | -0.01pp | 4q | HELD | |
| INTEL CORP CALL | INTC | $566.3K | 4,610 | -0.02pp | 4q | HELD | |
| ISHARES TR | EFA | $555.4K | 5,346 | flat | 11q | +1.7%+$9.0K | |
| FIRST TR EXCHANGE-TRADED FD | KNG | $545.7K | 11,335 | flat | 12q | +8.4%+$42.4K | |
| CSX CORP | CSX | $527.4K | 11,340 | -0.01pp | 18q | HELD | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $503.6K | 1,104 | +0.06pp | 2q | +156.7%+$307.5K | |
| APPLIED MATLS INC | AMAT | $500.9K | 979 | -0.05pp | 4q | -3.2%-$16.4K | |
| BELDEN INC | BDC | $485.7K | 4,500 | +0.03pp | 15q | +80.0%+$215.9K | |
| SPDR SERIES TRUST | SPSB | $485.4K | 16,403 | flat | 20q | +1.5%+$7.0K | |
| WISDOMTREE TR | DLN | $482.8K | 4,967 | flat | 20q | HELD | |
| DICKS SPORTING GOODS INC | DKS | $459.9K | 3,425 | -0.10pp | 8q | -18.0%-$101.1K | |
| JOHNSON & JOHNSON | JNJ | $446.8K | 1,688 | flat | 9q | HELD | |
| GE AEROSPACE | GE | $439.5K | 1,407 | -0.02pp | 6q | +1.8%+$7.8K | |
| SNOWFLAKE INC | SNOW | $432.6K | 1,274 | flat | 2q | -22.4%-$125.0K | |
| AMGEN INC | AMGN | $432.0K | 1,025 | +0.01pp | 18q | HELD | |
| ADVANCED MICRO DEVICES INC | AMD | $418.4K | 684 | flat | 2q | +0.6%+$2.4K | |
| VISA INC | V | $401.8K | 1,118 | flat | 8q | +1.1%+$4.3K | |
| ISHARES TR | MUB | $397.9K | 3,936 | +0.02pp | 5q | +52.7%+$137.4K | |
| VERIZON COMMUNICATIONS INC | VZ | $397.5K | 8,665 | flat | 20q | HELD | |
| CAPITAL ONE FINL CORP | COF | $384.8K | 1,993 | -0.01pp | 20q | HELD | |
| VANGUARD INDEX FDS | VTV | $383.5K | 1,775 | flat | 20q | +1.0%+$3.9K | |
| GE VERNOVA INC | GEV | $383.2K | 403 | -0.01pp | 2q | +15.1%+$50.4K | |
| SPDR SERIES TRUST | SPMD | $374.7K | 5,944 | flat | 15q | +4.7%+$16.8K | |
| UNITED RENTALS INC | URI | $366.5K | 366 | -0.01pp | 9q | HELD | |
| J P MORGAN EXCHANGE TRADED F | JEPQ | $366.3K | 5,979 | -0.02pp | 14q | -15.9%-$69.4K | |
| ROBINHOOD MKTS INC | HOOD | $365.2K | 3,246 | +0.01pp | 2q | +11.0%+$36.2K | |
| NETAPP INC | NTAP | $362.0K | 1,723 | +0.02pp | 2q | HELD | |
| WALMART INC | WMT | $358.9K | 3,454 | -0.01pp | 11q | +1.5%+$5.2K | |
| ISHARES U S ETF TR | COMT | $351.8K | 9,545 | +0.01pp | 8q | -3.4%-$12.6K | |
| FOSTER L B CO | FSTR | $346.0K | 9,593 | -0.02pp | 6q | HELD | |
| FREEPORT-MCMORAN INC | FCX | $343.0K | 4,900 | - | new | NEW | |
| DEXCOM INC | DXCM | $339.5K | 3,934 | +0.01pp | 2q | -4.0%-$14.2K | |
| AMPLIFY ETF TR | IDVO | $335.5K | 8,076 | flat | 3q | +2.8%+$9.1K | |
| ISHARES TR | EEM | $324.5K | 4,858 | flat | 9q | HELD | |
| CVS HEALTH CORP | CVS | $320.3K | 3,738 | +0.02pp | 2q | +82.8%+$145.1K | |
| SPDR SERIES TRUST | SPYV | $299.1K | 4,893 | flat | 14q | HELD | |
| GENERAL DYNAMICS CORP | GD | $282.8K | 852 | flat | 2q | +5.8%+$15.6K | |
| SELECT SECTOR SPDR TR | XLF | $280.5K | 5,252 | flat | 20q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $280.3K | 563 | flat | 3q | HELD | |
| UBER TECHNOLOGIES INC | UBER | $280.2K | 4,090 | flat | 5q | +9.8%+$25.1K | |
| SERVICENOW INC | NOW | $277.1K | 2,068 | +0.01pp | 6q | HELD | |
| QUALCOMM INC | QCOM | $276.1K | 1,500 | flat | 2q | HELD | |
| CAPITAL GRP FIXED INCM ETF T | CGIB | $272.4K | 10,938 | flat | 4q | +2.5%+$6.6K | |
| NEW YORK TIMES CO MTN BE | NYT | $268.1K | 4,210 | flat | 2q | +20.5%+$45.6K | |
| INCYTE CORP | INCY | $267.8K | 2,207 | - | new | NEW | |
| INVESCO QQQ TR | QQQ | $245.0K | 331 | flat | 2q | HELD | |
| PPG INDS INC | PPG | $244.1K | 2,340 | -0.01pp | 17q | -2.1%-$5.2K | |
| MARATHON PETE CORP | MPC | $243.6K | 616 | - | new | NEW | |
| BLACKROCK ETF TRUST II | HIMU | $241.5K | 5,286 | -0.01pp | 4q | HELD | |
| MICRON TECHNOLOGY INC | MU | $237.5K | 223 | flat | 2q | +16.1%+$33.0K | |
| EATON CORP PLC | ETN | $235.1K | 547 | flat | 2q | HELD | |
| IMPINJ INC | PI | $234.9K | 1,310 | - | new | NEW | |
| INVESCO EXCH TRADED FD TR II | VRP | $232.1K | 9,791 | flat | 20q | +1.8%+$4.2K | |
| NETFLIX INC. | NFLX | $230.3K | 3,310 | flat | 8q | HELD | |
| NATIONAL FUEL GAS CO | NFG | $228.6K | 3,013 | flat | 7q | HELD | |
| SPDR SERIES TRUST | SPSM | $226.7K | 4,288 | flat | 5q | +2.1%+$4.6K | |
| VALERO ENERGY CORP | VLO | $220.6K | 569 | - | new | NEW | |
| EXELON CORP | EXC | $213.9K | 5,294 | -0.01pp | 9q | -3.1%-$6.8K | |
| INVESCO CURRENCYSHARES EURO | FXE | $210.6K | 2,014 | flat | 3q | HELD | |
| ISHARES TR | IWR | $206.9K | 1,939 | flat | 6q | HELD | |
| SPDR SERIES TRUST | SDY | $201.5K | 1,376 | flat | 2q | HELD | |
| MERCK & CO INC | MRK | $200.8K | 1,382 | - | new | NEW | |
| PUTNAM ETF TRUST | FTNJ | $187.9K | 22,753 | flat | 2q | HELD | |
| TRULIEVE CANNABIS CORP | TRLV | $109.0K | 10,000 | - | 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 |
|---|---|---|
| Software & IT Services | $30.2M | 5.9% |
| Banks & Lending | $24.9M | 4.9% |
| Semiconductors & Electronics | $16.9M | 3.3% |
| Computer Hardware | $16.4M | 3.2% |
| Retail & Consumer | $15.6M | 3.1% |
| Energy | $9.4M | 1.9% |
| Capital Markets | $9.3M | 1.8% |
| Business Services | $9.1M | 1.8% |
| Other sectors | $50.1M | 9.9% |
| Not classified | $326.3M | 64.2% |
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 | +0.8% | +2.1% | -1.3% | 100% |
| Q2 2026 | +6.1% | +14.8% | -8.8% | 100% |
| Q1 2026 | +0.5% | -4.6% | +5.1% | 98% |
| Q4 2025 | +0.7% | +2.4% | -1.7% | 100% |
| Q3 2025 | +4.7% | +7.8% | -3.2% | 100% |
| Q2 2025 | +4.6% | +10.5% | -5.8% | 100% |
| Q1 2025 | -1.2% | -4.6% | +3.4% | 100% |
| Q4 2024 | -1.9% | +2.1% | -4.0% | 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 | $508.1M | 156 | 8 | 94 | 16 | 8 | 42.0% | 22 |
| Q2 2026 | $491.5M | 156 | 19 | 62 | 43 | 6 | 42.1% | 16 |
| Q1 2026 | $451.3M | 143 | 7 | 59 | 44 | 8 | 43.0% | 42 |
| Q4 2025 | $450.0M | 144 | 10 | 79 | 21 | 2 | 43.1% | 26 |
| Q3 2025 | $421.6M | 136 | 8 | 58 | 21 | 3 | 43.2% | 10 |
| Q2 2025 | $399.5M | 131 | 12 | 71 | 19 | 9 | 43.9% | 36 |
| Q1 2025 | $374.4M | 128 | 3 | 65 | 38 | 7 | 44.2% | 8 |
| Q4 2024 | $377.1M | 132 | 12 | 73 | 12 | 6 | 42.4% | 13 |
| Q3 2024 | $375.0M | 126 | 9 | 88 | 10 | 2 | 43.2% | 7 |
| Q2 2024 | $340.5M | 119 | 2 | 76 | 18 | 4 | 43.6% | 9 |
| Q1 2024 | $335.0M | 121 | 7 | 61 | 24 | 4 | 43.9% | 8 |
| Q4 2023 | $312.8M | 118 | 22 | 44 | 39 | 13 | 42.5% | 10 |
| Q3 2023 | $284.0M | 109 | 4 | 74 | 11 | 1 | 49.1% | 18 |
| Q2 2023 | $281.5M | 106 | 6 | 69 | 13 | 5 | 49.1% | 24 |
| Q1 2023 | $268.1M | 105 | 6 | 68 | 11 | 3 | 50.1% | 24 |
| Q4 2022 | $237.2M | 102 | 4 | 76 | 12 | 3 | 48.6% | 19 |
| Q3 2022 | $194.8M | 101 | 7 | 69 | 15 | 6 | 50.6% | 41 |
| Q2 2022 | $190.9M | 100 | 15 | 51 | 24 | 10 | 44.3% | 27 |
| Q1 2022 | $204.8M | 95 | 0 | 60 | 14 | 2 | 47.4% | 8 |
| Q4 2021 | $211.0M | 97 | 0 | 0 | 0 | 0 | 46.7% | 45 |
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.