DaveManuel.com · Institutional Ownership · 13F Holdings
Sterling Investment Counsel, 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 |
|---|---|---|---|---|---|---|---|
| ISHARES TR | IVW | $40.0M | 281,178 | -0.16pp | 20q | -2.3%-$951.4K | |
| INVESCO EXCH TRADED FD TR II | QQQM | $36.3M | 119,191 | -0.45pp | 19q | -3.0%-$1.1M | |
| J P MORGAN EXCHANGE TRADED F | JEPI | $32.7M | 582,131 | +0.16pp | 11q | +5.6%+$1.7M | |
| CAPITAL GROUP INTL FOCUS EQT | CGXU | $29.9M | 871,061 | -0.31pp | 18q | -0.6%-$189.3K | |
| APPLE INC | AAPL | $19.5M | 58,565 | +0.43pp | 20q | -1.0%-$198.1K | |
| ISHARES TR | IJH | $14.8M | 205,839 | -0.29pp | 20q | +1.6%+$234.1K | |
| NVIDIA CORPORATION | NVDA | $11.5M | 50,515 | +0.37pp | 20q | +4.7%+$522.3K | |
| ALPHABET INC | GOOGL | $11.3M | 32,756 | -0.12pp | 20q | +2.0%+$216.4K | |
| MICROSOFT CORP | MSFT | $9.7M | 18,875 | +0.64pp | 20q | +5.2%+$479.6K | |
| FIDELITY COVINGTON TRUST | FTEC | $9.7M | 32,245 | -0.17pp | 4q | -9.3%-$989.0K | |
| ISHARES TR | IJR | $9.5M | 69,910 | -0.24pp | 19q | +1.0%+$94.1K | |
| J P MORGAN EXCHANGE TRADED F | JTNY | $9.5M | 201,556 | -0.82pp | 2q | -20.5%-$2.5M | |
| ISHARES TR | IVV | $8.9M | 11,585 | -0.01pp | 20q | HELD | |
| ISHARES INC | EMXC | $8.6M | 87,172 | -0.28pp | 13q | -7.0%-$647.5K | |
| AMAZON COM INC | AMZN | $7.8M | 31,424 | +0.07pp | 20q | +2.1%+$162.7K | |
| ISHARES TR | MUB | $6.7M | 66,138 | - | new | NEW | |
| META PLATFORMS INC | META | $5.5M | 7,643 | +0.23pp | 20q | -2.4%-$133.4K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $5.5M | 11,017 | -0.04pp | 20q | HELD | |
| JPMORGAN CHASE & CO | JPM | $4.8M | 14,485 | -0.02pp | 20q | HELD | |
| VISA INC | V | $4.0M | 11,072 | -0.01pp | 20q | -2.5%-$103.1K | |
| PALO ALTO NETWORKS INC | PANW | $3.9M | 9,914 | -0.15pp | 18q | -24.2%-$1.3M | |
| WALMART INC | WMT | $3.7M | 35,988 | -0.09pp | 20q | +1.4%+$52.5K | |
| COCA COLA CO | KO | $3.5M | 40,553 | +0.03pp | 20q | +1.5%+$52.3K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $3.2M | 4,150 | +0.01pp | 20q | +2.0%+$63.3K | |
| BROADCOM INC | AVGO | $3.1M | 8,792 | +0.10pp | 9q | +29.0%+$694.3K | |
| GE VERNOVA INC | GEV | $2.9M | 3,055 | -0.17pp | 6q | +0.6%+$18.1K | |
| SERVICENOW INC | NOW | $2.9M | 21,361 | +0.18pp | 16q | +6.0%+$162.7K | |
| ELI LILLY & CO | LLY | $2.7M | 2,320 | -0.04pp | 7q | HELD | |
| ISHARES TR | IWF | $2.7M | 21,357 | -0.01pp | 5q | HELD | |
| ALPHABET INC | GOOG | $2.6M | 7,630 | -0.05pp | 20q | -2.0%-$51.8K | |
| ISHARES TR | IXUS | $2.5M | 26,101 | +0.03pp | 19q | +8.7%+$198.7K | |
| ABBVIE INC | ABBV | $2.4M | 9,319 | +0.01pp | 20q | +0.8%+$20.4K | |
| ISHARES TR | IVE | $2.3M | 10,003 | flat | 20q | +2.7%+$60.0K | |
| ISHARES TR | DGRO | $2.3M | 30,133 | -0.02pp | 20q | HELD | |
| ISHARES TR | IUSG | $2.3M | 11,686 | +0.03pp | 20q | +5.0%+$107.9K | |
| EATON CORP PLC | ETN | $2.3M | 5,261 | -0.01pp | 15q | +0.7%+$16.8K | |
| THERMO FISHER SCIENTIFIC INC | TMO | $2.1M | 3,147 | +0.12pp | 20q | +1.8%+$38.5K | |
| CITIZENS FINL GROUP INC | CFG | $2.1M | 33,256 | -0.06pp | 17q | +1.1%+$23.7K | |
| AMPHENOL CORP | APH | $2.1M | 24,950 | flat | 7q | +6.8%+$133.7K | |
| ANALOG DEVICES INC | ADI | $2.1M | 5,297 | flat | 13q | +2.1%+$43.6K | |
| ISHARES TR | NYF | $2.1M | 40,839 | +0.38pp | 5q | +456.5%+$1.7M | |
| SELECT SECTOR SPDR TR | XLE | $2.0M | 31,841 | +0.05pp | 18q | +1.0%+$20.0K | |
| MERCK & CO INC | MRK | $1.9M | 13,255 | +0.04pp | 20q | -0.7%-$12.9K | |
| ARK ETF TR | ARKW | $1.9M | 11,604 | +0.04pp | 20q | +2.0%+$35.9K | |
| CITIGROUP INC | C | $1.8M | 13,944 | -0.04pp | 8q | +0.6%+$10.7K | |
| MICRON TECHNOLOGY INC | MU | $1.8M | 1,645 | +0.10pp | 4q | +48.7%+$574.2K | |
| INVESCO QQQ TR | QQQ | $1.7M | 2,336 | +0.01pp | 5q | +4.8%+$78.4K | |
| HOME DEPOT INC | HD | $1.7M | 5,811 | -0.03pp | 20q | +18.7%+$260.3K | |
| GLOBAL X FDS | BOTZ | $1.6M | 46,521 | -0.03pp | 20q | +3.3%+$51.6K | |
| AMERICAN ELEC PWR CO INC | AEP | $1.6M | 13,515 | -0.06pp | 7q | +1.2%+$19.0K | |
| ISHARES INC | EZU | $1.6M | 23,220 | +0.05pp | 3q | +24.7%+$309.9K | |
| VANGUARD INDEX FDS | VOO | $1.5M | 2,193 | -0.01pp | 15q | -1.0%-$15.4K | |
| ISHARES TR | SHYG | $1.5M | 36,490 | -0.03pp | 4q | -1.5%-$22.6K | |
| UBER TECHNOLOGIES INC | UBER | $1.5M | 21,684 | flat | 11q | +9.4%+$128.2K | |
| SEAGATE TECHNOLOGY HLDNGS PL | STX | $1.5M | 1,582 | -0.06pp | 4q | -9.5%-$154.0K | |
| COSTCO WHOLESALE CORPORATION | COST | $1.4M | 1,580 | -0.02pp | 20q | +0.5%+$7.3K | |
| MCDONALDS CORP | MCD | $1.4M | 5,867 | -0.06pp | 20q | +4.3%+$56.1K | |
| SELECT SECTOR SPDR TR | XLB | $1.3M | 27,534 | -0.01pp | 15q | +2.4%+$31.7K | |
| PARKER HANNIFIN CORP | PH | $1.3M | 1,395 | -0.04pp | 18q | -8.2%-$118.5K | |
| GILEAD SCIENCES INC | GILD | $1.3M | 8,792 | +0.03pp | 5q | -2.5%-$32.9K | |
| CARDINAL HEALTH INC | CAH | $1.3M | 5,704 | -0.03pp | 16q | HELD | |
| BLACKROCK INC | BLK | $1.3M | 1,197 | +0.02pp | 7q | +0.5%+$6.3K | |
| GLOBAL X FDS | BUG | $1.3M | 27,251 | +0.03pp | 11q | -6.7%-$90.6K | |
| DEERE CO | DE | $1.1M | 1,657 | +0.01pp | 7q | +1.1%+$12.1K | |
| FIDELITY COMWLTH TR | ONEQ | $1.1M | 10,462 | flat | 5q | HELD | |
| JOHNSON & JOHNSON | JNJ | $1.1M | 4,175 | flat | 5q | HELD | |
| ISHARES TR | IGV | $1.1M | 10,107 | +0.03pp | 18q | -2.4%-$26.4K | |
| SPDR SERIES TRUST | SPMD | $1.1M | 16,750 | +0.01pp | 19q | +12.8%+$120.0K | |
| IQVIA HLDGS INC | IQV | $1.0M | 3,847 | +0.07pp | 5q | +2.2%+$22.0K | |
| APPLIED MATLS INC | AMAT | $1.0M | 1,964 | -0.09pp | 20q | +4.5%+$43.0K | |
| ISHARES TR | LRGF | $963.9K | 12,381 | flat | 5q | HELD | |
| EQUINIX INC | EQIX | $939.8K | 929 | -0.01pp | 5q | +1.8%+$16.2K | |
| MASTERCARD INCORPORATED | MA | $919.9K | 1,668 | -0.01pp | 20q | -7.6%-$76.1K | |
| GUIDEWIRE SOFTWARE INC | GWRE | $918.8K | 6,444 | - | new | NEW | |
| M & T BK CORP | MTB | $914.9K | 4,205 | -0.03pp | 20q | HELD | |
| CORNING INC | GLW | $891.2K | 5,796 | -0.14pp | 20q | HELD | |
| VANECK ETF TRUST | NLR | $873.3K | 8,441 | -0.04pp | 5q | -4.0%-$36.1K | |
| ISHARES TR | IWR | $854.2K | 8,005 | +0.02pp | 3q | +15.9%+$117.4K | |
| VANGUARD INDEX FDS | VOT | $847.4K | 2,901 | -0.08pp | 12q | -23.0%-$252.7K | |
| TESLA INC | TSLA | $845.5K | 2,383 | -0.03pp | 20q | +4.0%+$32.3K | |
| nan | MELI | $838.3K | 485 | +0.01pp | 11q | +4.8%+$38.0K | |
| ISHARES INC | EWJ | $826.9K | 8,484 | +0.04pp | 3q | +26.4%+$172.8K | |
| CHARLES SCHWAB CORP (THE) | SCHW | $822.2K | 8,412 | +0.01pp | 4q | +3.1%+$24.8K | |
| VANGUARD WORLD FD | VGT | $813.8K | 6,476 | flat | 5q | HELD | |
| VANGUARD ADMIRAL FDS INC | VOOG | $787.9K | 9,218 | flat | 5q | HELD | |
| CROWDSTRIKE HLDGS INC | CRWD | $772.0K | 2,916 | +0.05pp | 5q | +5.8%+$42.4K | |
| STRYKER CORPORATION | SYK | $756.8K | 2,748 | -0.02pp | 5q | +5.4%+$38.8K | |
| EXXONMOBIL HOLDINGS CORP | XOM | $749.3K | 4,604 | - | new | NEW | |
| BERKSHIRE HATHAWAY INC DEL | BRKA | $747.0K | 1 | -0.01pp | 5q | HELD | |
| STATE STR SPDR DOW JONES IND | DIA | $742.5K | 1,460 | -0.01pp | 5q | -2.2%-$16.8K | |
| MARATHON PETE CORP | MPC | $658.4K | 1,665 | +0.05pp | 4q | HELD | |
| J P MORGAN EXCHANGE TRADED F | JPST | $624.5K | 12,399 | +0.02pp | 5q | +19.4%+$101.4K | |
| PHILIP MORRIS INTL INC | PM | $615.4K | 3,225 | +0.01pp | 4q | +1.1%+$6.7K | |
| CINTAS CORP | CTAS | $607.8K | 3,116 | +0.01pp | 4q | -6.0%-$39.0K | |
| VANGUARD WORLD FD | MGK | $607.6K | 6,558 | flat | 4q | -3.3%-$20.8K | |
| ISHARES TR | IWM | $577.7K | 2,079 | flat | 3q | +10.4%+$54.2K | |
| CATERPILLAR INC | CAT | $564.0K | 696 | -0.05pp | 13q | -0.7%-$4.1K | |
| ADVANCED MICRO DEVICES INC | AMD | $559.1K | 914 | +0.03pp | 2q | +28.7%+$124.8K | |
| CHEVRON CORPORATION | CVX | $559.1K | 2,738 | +0.05pp | 20q | +33.8%+$141.3K | |
| VANGUARD WHITEHALL FDS | VYM | $545.6K | 3,515 | -0.02pp | 5q | -10.8%-$66.1K | |
| GOLDMAN SACHS GROUP INC | GS | $532.0K | 591 | -0.02pp | 9q | HELD | |
| VANGUARD INDEX FDS | VTV | $529.8K | 2,452 | flat | 5q | +0.6%+$3.2K | |
| SPACE EXPLORATION TECHN CORP | SPCX | $513.4K | 3,403 | - | new | NEW | |
| PEPSICO INC | PEP | $512.3K | 4,043 | -0.02pp | 5q | -3.2%-$17.1K | |
| SELECT SECTOR SPDR TR | XLK | $507.4K | 2,592 | flat | 5q | HELD | |
| AT&T INC | T | $490.3K | 20,094 | +0.01pp | 4q | -5.9%-$30.6K | |
| PROLOGIS INC. | PLD | $484.4K | 3,731 | -0.01pp | 4q | HELD | |
| TRANE TECHNOLOGIES PLC | TT | $478.6K | 1,059 | -0.01pp | 4q | HELD | |
| CINCINNATI FINL CORP | CINF | $474.9K | 2,980 | -0.02pp | 4q | HELD | |
| ISHARES INC | EWC | $470.7K | 8,062 | flat | 3q | +2.1%+$9.5K | |
| ISHARES TR | QUAL | $468.7K | 2,109 | +0.05pp | 20q | +87.8%+$219.1K | |
| GRAHAM HLDGS CO | GHC | $459.5K | 405 | flat | 17q | HELD | |
| US BANCORP | USB | $455.2K | 7,881 | -0.01pp | 4q | HELD | |
| PROCTER & GAMBLE CO | PG | $453.3K | 3,120 | flat | 20q | HELD | |
| ISHARES TR | HYG | $445.8K | 5,774 | -0.16pp | 4q | -58.2%-$619.8K | |
| VANGUARD INDEX FDS | VOE | $444.6K | 2,274 | -0.01pp | 4q | -5.6%-$26.6K | |
| FIFTH THIRD BANCORP | FITB | $437.3K | 8,646 | -0.01pp | 4q | HELD | |
| ISHARES TR | EMB | $433.4K | 4,771 | -0.01pp | 4q | -3.6%-$16.1K | |
| GLOBAL X FDS | CATH | $428.8K | 4,729 | flat | 20q | HELD | |
| AMGEN INC | AMGN | $401.3K | 952 | +0.01pp | 5q | +3.4%+$13.1K | |
| METLIFE INC | MET | $395.7K | 4,202 | +0.01pp | 4q | HELD | |
| WILLIAMS COS INC | WMB | $395.2K | 5,815 | -0.01pp | 4q | -2.0%-$8.2K | |
| TOMPKINS FINL CORP | TMP | $381.9K | 3,968 | flat | 17q | HELD | |
| VANGUARD WORLD FD | MGV | $380.0K | 2,359 | -0.01pp | 4q | -4.0%-$15.9K | |
| BANK OF AMER CORP | BAC | $374.0K | 6,872 | -0.02pp | 20q | -9.7%-$40.2K | |
| SPDR GOLD TR | GLD | $366.7K | 963 | flat | 7q | HELD | |
| iShares Tr | SHV | $366.0K | 3,318 | - | new | NEW | |
| FIDELITY NATL FINL INC | FNF | $366.0K | 9,470 | -0.02pp | 12q | +0.7%+$2.6K | |
| SPDR SERIES TRUST | BIL | $365.8K | 3,992 | - | new | NEW | |
| CSX CORP | CSX | $365.6K | 7,861 | flat | 3q | HELD | |
| VANGUARD SPECIALIZED FUNDS | VIG | $364.4K | 1,562 | flat | 5q | HELD | |
| UNITED PARCEL SVCS INC | UPS | $362.1K | 3,875 | -0.01pp | 14q | +2.8%+$9.8K | |
| PROSHARES TR | SPXE | $356.2K | 4,336 | flat | 5q | -2.1%-$7.6K | |
| ISHARES TR | IJT | $351.4K | 2,191 | -0.01pp | 5q | HELD | |
| ISHARES BITCOIN TRUST ETF | IBIT | $349.2K | 7,377 | +0.02pp | 2q | HELD | |
| OIL DRI CORP AMER | ODC | $349.1K | 3,854 | -0.01pp | 3q | HELD | |
| HCA Healthcare, Inc. | HCA | $346.1K | 811 | flat | 4q | -5.4%-$19.6K | |
| ISHARES INC | EPP | $345.0K | 6,270 | +0.01pp | 3q | +7.8%+$25.0K | |
| FORD MTR CO | F | $341.9K | 28,348 | -0.01pp | 4q | HELD | |
| UNITEDHEALTH GROUP INC | UNH | $338.1K | 921 | -0.02pp | 4q | -9.3%-$34.5K | |
| CISCO SYS INC | CSCO | $337.0K | 3,131 | -0.01pp | 4q | +2.4%+$7.9K | |
| LOWES COS INC | LOW | $336.9K | 1,828 | -0.02pp | 5q | -1.7%-$5.7K | |
| VANGUARD INDEX FDS | VBR | $335.9K | 1,454 | -0.02pp | 4q | -17.2%-$70.0K | |
| MARVELL TECHNOLOGY INC | MRVL | $324.5K | 1,228 | - | new | NEW | |
| ISHARES TR | EWU | $324.2K | 6,968 | flat | 3q | +5.0%+$15.4K | |
| LINDE PLC | LIN | $320.9K | 676 | flat | 5q | +6.0%+$18.0K | |
| VANGUARD INDEX FDS | VTI | $311.7K | 833 | flat | 5q | HELD | |
| QUANTA SVCS INC | PWR | $311.6K | 485 | -0.01pp | 4q | HELD | |
| ISHARES TR | USMV | $307.4K | 3,154 | -0.01pp | 5q | -5.5%-$17.9K | |
| HARTFORD INSURANCE GROUP INC | HIG | $304.7K | 2,490 | -0.01pp | 4q | HELD | |
| GRAYSCALE BITCOIN TRUST ETF | GBTC | $301.3K | 4,665 | +0.02pp | 7q | HELD | |
| EVERSOURCE ENERGY | ES | $298.0K | 4,645 | -0.01pp | 4q | +2.1%+$6.2K | |
| ENTERGY CORP NEW | ETR | $298.0K | 3,002 | -0.01pp | 4q | -1.6%-$4.8K | |
| LOCKHEED MARTIN CORP | LMT | $293.8K | 577 | flat | 4q | -0.5%-$1.5K | |
| ISHARES TR | IWP | $291.7K | 2,119 | flat | 4q | +2.3%+$6.5K | |
| J P MORGAN EXCHANGE TRADED F | JIRE | $289.5K | 3,524 | -0.01pp | 3q | -5.8%-$17.7K | |
| PIMCO ETF TR | MINT | $288.3K | 2,867 | - | new | NEW | |
| EDISON INTL | EIX | $286.7K | 5,336 | -0.02pp | 3q | +7.0%+$18.8K | |
| ISHARES TR | IJK | $286.5K | 2,614 | -0.01pp | 5q | +1.5%+$4.2K | |
| ISHARES TR | SUB | $281.7K | 2,695 | flat | 3q | -0.7%-$2.1K | |
| BEST BUY INC | BBY | $279.4K | 3,166 | +0.01pp | 3q | -2.6%-$7.3K | |
| ISHARES TR | ACWX | $273.0K | 3,610 | flat | 5q | HELD | |
| AMERICAN EXPRESS CO | AXP | $271.9K | 894 | -0.01pp | 5q | -0.9%-$2.4K | |
| ISHARES TR | IWS | $271.3K | 1,688 | flat | 4q | HELD | |
| REGIONS FINANCIAL CORP NEW | RF | $270.1K | 10,047 | -0.01pp | 4q | HELD | |
| ISHARES TR | USIG | $267.4K | 5,490 | flat | 3q | +11.1%+$26.6K | |
| UNUM GROUP | UNM | $267.0K | 3,043 | flat | 4q | HELD | |
| INTERNATIONAL BUSINESS MACHS | IBM | $258.6K | 1,176 | -0.03pp | 4q | -16.5%-$51.0K | |
| ISHARES TR | IEFA | $255.7K | 2,639 | flat | 3q | -3.0%-$8.0K | |
| ISHARES TR | IBB | $255.0K | 1,211 | flat | 4q | HELD | |
| ISHARES TR | GOVT | $253.8K | 11,606 | -0.01pp | 3q | -4.7%-$12.6K | |
| SPDR SERIES TRUST | XBI | $252.1K | 1,599 | flat | 3q | HELD | |
| SPDR SERIES TRUST | SPYV | $251.1K | 4,107 | flat | 5q | HELD | |
| VANGUARD WORLD FD | VHT | $249.7K | 790 | flat | 5q | HELD | |
| SSGA ACTIVE ETF TR | SRLN | $249.0K | 6,166 | flat | 3q | HELD | |
| VANGUARD CHARLOTTE FDS | BNDX | $248.2K | 5,296 | -0.01pp | 4q | -6.7%-$17.9K | |
| ISHARES TR | OEF | $246.1K | 644 | flat | 5q | HELD | |
| Dominion Energy, Inc. | D | $243.4K | 4,022 | -0.01pp | 4q | -5.6%-$14.3K | |
| AUTOMATIC DATA PROCESSING IN | ADP | $240.7K | 933 | +0.01pp | 2q | +1.1%+$2.6K | |
| BROOKFIELD INFRASTRUCTURE PA | BIP | $238.6K | 6,711 | flat | 4q | HELD | |
| NETFLIX INC. | NFLX | $237.1K | 3,407 | flat | 5q | HELD | |
| MARKEL GROUP INC | MKL | $231.2K | 135 | -0.01pp | 4q | +2.3%+$5.1K | |
| DELL TECHNOLOGIES INC | DELL | $230.4K | 428 | - | new | NEW | |
| PUBLIC SVC ENTERPRISE GROUP | PEG | $226.0K | 3,356 | -0.02pp | 4q | -5.6%-$13.5K | |
| FIRSTENERGY CORP | FE | $220.2K | 5,083 | -0.01pp | 4q | -1.9%-$4.3K | |
| J P MORGAN EXCHANGE TRADED F | JEPQ | $218.2K | 3,562 | -0.01pp | 2q | -20.1%-$55.0K | |
| ISHARES TR | DMXF | $215.5K | 2,546 | flat | 2q | HELD | |
| ISHARES TR | USXF | $210.8K | 3,097 | flat | 2q | -3.4%-$7.4K | |
| TARGET CORP | TGT | $209.3K | 1,336 | - | new | NEW | |
| ISHARES TR | IWO | $206.3K | 578 | -0.01pp | 2q | -0.5%-$1.1K | |
| TRINITY CAP INC | TRIN | $205.6K | 11,714 | - | new | NEW | |
| KLA CORP | KLAC | $201.2K | 1,032 | -0.03pp | 2q | -4.4%-$9.4K | |
| SOUNDHOUND AI INC | SOUN | $100.5K | 16,697 | flat | 4q | HELD | |
| EVA LIVE INC | GOAI | $46.8K | 25,000 | flat | 3q | 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 |
|---|---|---|
| Software & IT Services | $34.5M | 7.9% |
| Computer Hardware | $25.7M | 5.9% |
| Semiconductors & Electronics | $25.4M | 5.8% |
| Retail & Consumer | $17.4M | 4.0% |
| Banks & Lending | $11.8M | 2.7% |
| Biotech & Pharma | $10.9M | 2.5% |
| Insurance | $8.6M | 2.0% |
| Business Services | $7.7M | 1.8% |
| Other sectors | $35.3M | 8.1% |
| Not classified | $259.5M | 59.4% |
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 | +1.4% | +2.1% | -0.7% | 100% |
| Q2 2026 | +15.3% | +14.8% | +0.5% | 100% |
| Q1 2026 | -3.3% | -4.6% | +1.3% | 101% |
| Q4 2025 | +2.3% | +2.4% | -0.0% | 100% |
| Q3 2025 | +8.2% | +7.8% | +0.3% | 100% |
| Q2 2025 | +9.2% | +10.5% | -1.2% | 100% |
| Q1 2025 | -4.4% | -4.6% | +0.2% | 100% |
| Q4 2024 | +1.4% | +2.1% | -0.7% | 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 | $436.9M | 194 | 11 | 71 | 58 | 12 | 49.3% | 19 |
| Q2 2026 | $424.8M | 195 | 9 | 66 | 64 | 10 | 50.8% | 20 |
| Q1 2026 | $356.9M | 196 | 23 | 71 | 74 | 14 | 50.0% | 16 |
| Q4 2025 | $349.0M | 187 | 63 | 70 | 25 | 6 | 51.4% | 27 |
| Q3 2025 | $311.9M | 130 | 47 | 68 | 9 | 57 | 54.4% | 21 |
| Q2 2025 | $170.5M | 140 | 8 | 17 | 101 | 42 | 53.3% | 21 |
| Q1 2025 | $292.2M | 174 | 49 | 108 | 7 | 3 | 48.4% | 21 |
| Q4 2024 | $151.3M | 128 | 5 | 11 | 79 | 50 | 54.2% | 22 |
| Q3 2024 | $280.7M | 173 | 16 | 68 | 31 | 7 | 49.8% | 22 |
| Q2 2024 | $254.0M | 164 | 8 | 55 | 77 | 15 | 51.8% | 25 |
| Q1 2024 | $216.5M | 171 | 19 | 84 | 41 | 5 | 46.8% | 26 |
| Q4 2023 | $196.0M | 157 | 20 | 61 | 45 | 14 | 48.0% | 12 |
| Q3 2023 | $174.5M | 151 | 10 | 60 | 37 | 13 | 49.4% | 19 |
| Q2 2023 | $185.2M | 154 | 9 | 57 | 32 | 11 | 51.1% | 17 |
| Q1 2023 | $168.3M | 156 | 13 | 45 | 72 | 9 | 50.8% | 18 |
| Q4 2022 | $161.8M | 152 | 20 | 63 | 23 | 5 | 47.8% | 20 |
| Q3 2022 | $136.9M | 137 | 8 | 51 | 40 | 16 | 51.7% | 21 |
| Q2 2022 | $131.0M | 145 | 16 | 76 | 19 | 18 | 48.2% | 112 |
| Q1 2022 | $148.4M | 147 | 20 | 51 | 54 | 14 | 49.7% | 40 |
| Q4 2021 | $147.6M | 141 | 0 | 0 | 0 | 0 | 49.2% | 119 |
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.