DaveManuel.com · Institutional Ownership · 13F Holdings

Frank, Rimerman Advisors LLC

Reported holdings as of Q3 2026, from 24 quarterly filings.

CIK

1977560

Reported value

$1.8B

Positions

607

Top 10 weight

39.2%

Filed

2026-10-16

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
NVIDIA CORPORATION	NVDA	$127.4M	557,777	7.04%	+0.70pp	24q	HELD
INVESCO QQQ TR	QQQ	$108.3M	146,361	5.98%	-0.13pp	24q	HELD
APPLE INC	AAPL	$97.3M	292,152	5.37%	+0.65pp	24q	+1.4%+$1.3M
ALPHABET INC	GOOGL	$88.2M	256,246	4.87%	-0.31pp	24q	HELD
MICROSOFT CORP	MSFT	$62.4M	121,621	3.45%	+1.12pp	24q	+10.7%+$6.0M
STATE STR SPDR S&P 500 ETF T	SPY	$57.5M	75,432	3.18%	+0.11pp	24q	+3.9%+$2.1M
ALPHABET INC	GOOG	$46.5M	136,611	2.57%	-0.18pp	24q	-0.6%-$258.3K
INVESCO EXCH TRADED FD TR II	QQQM	$43.1M	141,358	2.38%	-0.05pp	24q	HELD
NETFLIX INC.	NFLX	$40.3M	579,839	2.23%	-0.10pp	24q	+0.6%+$246.2K
AMAZON COM INC	AMZN	$38.0M	152,680	2.10%	+0.07pp	24q	+1.7%+$623.6K
VANGUARD INDEX FDS	VTI	$36.4M	97,155	2.01%	+0.03pp	24q	+2.8%+$986.1K
META PLATFORMS INC	META	$30.8M	42,435	1.70%	+0.35pp	24q	HELD
BROADCOM INC	AVGO	$29.5M	84,077	1.63%	-0.17pp	12q	HELD
MICRON TECHNOLOGY INC	MU	$28.8M	27,083	1.59%	-0.20pp	12q	-1.1%-$314.2K
TAIWAN SEMICONDUCTOR MANUFAC	TSM	$26.3M	57,645	1.45%	-0.10pp	22q	HELD
ADVANCED MICRO DEVICES INC	AMD	$20.4M	33,335	1.13%	+0.01pp	12q	-1.7%-$359.7K
JPMORGAN CHASE & CO	JPM	$19.1M	57,749	1.06%	-0.01pp	24q	HELD
TESLA INC	TSLA	$14.8M	41,625	0.82%	-0.21pp	24q	-3.1%-$473.7K
JOHNSON & JOHNSON	JNJ	$13.7M	51,796	0.76%	+0.01pp	24q	HELD
ELI LILLY & CO	LLY	$12.8M	11,066	0.71%	-0.04pp	12q	HELD
VANGUARD TAX-MANAGED FDS	VEA	$12.7M	180,120	0.70%	-0.02pp	24q	HELD
APPLIED MATLS INC	AMAT	$11.7M	22,888	0.65%	-0.30pp	12q	-0.8%-$100.2K
INVESCO EXCHANGE TRADED FD T	RSP	$11.6M	55,899	0.64%	-0.03pp	24q	HELD
CISCO SYS INC	CSCO	$11.4M	106,094	0.63%	-0.08pp	12q	HELD
BERKSHIRE HATHAWAY INC DEL	BRKB	$10.5M	21,108	0.58%	-0.01pp	12q	+2.0%+$205.7K
CROWDSTRIKE HLDGS INC	CRWD	$10.4M	39,180	0.57%	+0.15pp	17q	+0.8%+$84.7K
VISA INC	V	$10.3M	28,754	0.57%	+0.01pp	12q	HELD
CEREBRAS SYSTEMS INC	CBRS	$10.0M	56,271	0.55%	+0.53pp	2q	+3681.7%+$9.7M
EXXONMOBIL HOLDINGS CORP	XOM	$9.3M	57,413	0.52%	-	new	NEW
ABBVIE INC	ABBV	$9.1M	34,634	0.50%	+0.01pp	12q	HELD
WALMART INC	WMT	$8.8M	84,814	0.49%	-0.09pp	12q	-5.2%-$488.1K
ISHARES TR	IWC	$8.6M	46,321	0.47%	-0.06pp	24q	-1.5%-$126.4K
ASML HLDG NV	ASML	$8.1M	4,483	0.45%	-0.06pp	12q	HELD
PHILIP MORRIS INTL INC	PM	$7.6M	39,583	0.42%	+0.10pp	12q	+28.3%+$1.7M
VANGUARD INTL EQUITY INDEX F	VWO	$7.5M	127,007	0.42%	-0.01pp	24q	HELD
ANGLOGOLD ASHANTI PLC	AU	$7.5M	79,927	0.41%	+0.05pp	10q	HELD
MORGAN STANLEY	MS	$7.2M	38,159	0.40%	-0.06pp	12q	HELD
CHEVRON CORPORATION	CVX	$7.0M	34,382	0.39%	+0.07pp	12q	HELD
ISHARES TR	ACWI	$7.0M	44,053	0.39%	-0.01pp	24q	HELD
TECK RESOURCES LTD	TECK	$6.9M	105,131	0.38%	+0.03pp	10q	HELD
STATE STR SPDR DOW JONES IND	DIA	$6.9M	13,572	0.38%	flat	24q	+5.5%+$360.6K
INTEL CORP	INTC	$6.9M	56,985	0.38%	-0.15pp	12q	-15.2%-$1.2M
PALANTIR TECHNOLOGIES INC	PLTR	$6.6M	35,421	0.37%	+0.12pp	12q	-5.3%-$369.4K
FERRARI N V	RACE	$6.0M	15,292	0.33%	+0.01pp	10q	HELD
MASTERCARD INCORPORATED	MA	$5.9M	10,683	0.33%	+0.02pp	12q	+1.1%+$61.8K
COSTCO WHOLESALE CORPORATION	COST	$5.7M	6,231	0.31%	-0.12pp	12q	-23.5%-$1.7M
LAM RESEARCH CORP	LRCX	$5.6M	17,004	0.31%	-0.13pp	8q	-4.6%-$267.7K
GE AEROSPACE	GE	$5.6M	17,797	0.31%	-0.02pp	12q	+14.1%+$687.0K
VANGUARD WORLD FD	VFH	$5.5M	42,231	0.30%	-0.01pp	24q	+1.6%+$84.8K
MERCK & CO INC	MRK	$5.4M	37,403	0.30%	+0.03pp	12q	-0.8%-$44.6K
COCA COLA CO	KO	$5.3M	61,888	0.29%	+0.01pp	12q	HELD
GILEAD SCIENCES INC	GILD	$5.3M	35,698	0.29%	+0.04pp	12q	+1.2%+$61.4K
GE VERNOVA INC	GEV	$5.1M	5,317	0.28%	-0.07pp	10q	+0.6%+$28.5K
UNITEDHEALTH GROUP INC	UNH	$5.0M	13,508	0.27%	-0.06pp	12q	-5.7%-$299.9K
CATERPILLAR INC	CAT	$4.9M	5,991	0.27%	-0.09pp	10q	HELD
AMPHENOL CORP	APH	$4.8M	57,288	0.27%	-0.02pp	12q	+1.4%+$67.3K
VANGUARD INDEX FDS	VB	$4.8M	16,859	0.26%	flat	24q	+9.8%+$429.3K
VERIZON COMMUNICATIONS INC	VZ	$4.7M	103,022	0.26%	+0.04pp	12q	+12.0%+$505.6K
PFIZER INC	PFE	$4.7M	164,556	0.26%	+0.04pp	12q	HELD
INTERNATIONAL BUSINESS MACHS	IBM	$4.7M	21,180	0.26%	-0.12pp	12q	-11.1%-$579.3K
CME GROUP INC	CME	$4.6M	17,601	0.25%	+0.03pp	12q	HELD
ALTRIA GROUP INC	MO	$4.5M	66,939	0.25%	-0.02pp	11q	HELD
AMERICAN EXPRESS CO	AXP	$4.5M	14,777	0.25%	-0.03pp	12q	HELD
PALO ALTO NETWORKS INC	PANW	$4.4M	11,163	0.24%	+0.03pp	12q	HELD
TEXAS INSTRS INC	TXN	$4.2M	14,888	0.23%	-0.05pp	12q	-10.4%-$485.7K
BANK OF AMER CORP	BAC	$4.1M	75,859	0.23%	-0.02pp	12q	HELD
ISHARES TR	IVV	$4.0M	5,180	0.22%	-0.01pp	24q	-6.1%-$259.6K
ORACLE CORP	ORCL	$3.9M	28,616	0.22%	-0.03pp	12q	-5.5%-$230.4K
DELL TECHNOLOGIES INC	DELL	$3.9M	7,275	0.22%	+0.04pp	10q	+2.0%+$78.0K
EATON CORP PLC	ETN	$3.9M	9,066	0.22%	+0.02pp	12q	+10.6%+$374.7K
AERCAP HOLDINGS NV	AER	$3.9M	26,850	0.21%	-0.01pp	10q	HELD
AT&T INC	T	$3.8M	156,628	0.21%	+0.03pp	12q	HELD
ISHARES TR	IYJ	$3.8M	24,468	0.21%	-0.02pp	24q	HELD
NRG ENERGY INC	NRG	$3.7M	38,718	0.20%	-0.11pp	10q	+0.6%+$22.6K
PARKER HANNIFIN CORP	PH	$3.7M	3,832	0.20%	-0.01pp	10q	HELD
ISHARES TR	IWF	$3.6M	28,568	0.20%	flat	24q	HELD
PRICE T ROWE GROUP INC	TROW	$3.6M	34,278	0.20%	-0.02pp	2q	HELD
TRANSDIGM GROUP INC	TDG	$3.5M	3,272	0.20%	-0.19pp	12q	-35.8%-$2.0M
VANECK ETF TRUST	ANGL	$3.5M	125,518	0.19%	-0.02pp	24q	HELD
PROCTER & GAMBLE CO	PG	$3.5M	23,952	0.19%	-0.02pp	12q	-4.7%-$170.7K
HOWMET AEROSPACE INC	HWM	$3.4M	14,890	0.19%	-0.04pp	12q	-0.6%-$19.9K
INTUITIVE SURGICAL INC	ISRG	$3.3M	8,198	0.18%	flat	24q	HELD
SCHWAB STRATEGIC TR	SCHF	$3.3M	120,825	0.18%	-0.01pp	3q	HELD
UNION PAC CORP	UNP	$3.3M	12,191	0.18%	flat	12q	HELD
SANDISK CORP	SNDK	$3.3M	1,886	0.18%	-0.06pp	3q	HELD
DANAHER CORP DEL	DHR	$3.3M	14,748	0.18%	+0.02pp	24q	+1.8%+$56.7K
VANGUARD STAR FDS	VXUS	$3.2M	38,234	0.18%	-0.01pp	24q	HELD
KB FINL GROUP INC	KB	$3.2M	26,250	0.18%	+0.01pp	6q	-8.8%-$312.2K
UNITED PARCEL SVCS INC	UPS	$3.2M	34,540	0.18%	-0.04pp	4q	-4.8%-$161.1K
VANGUARD INDEX FDS	VO	$3.2M	40,821	0.18%	flat	24q	+6.6%+$199.0K
SHINHAN FINANCIAL GROUP CO L	SHG	$3.2M	41,102	0.18%	+0.01pp	6q	-10.7%-$383.6K
BHP BILLITON LIMITED	BHP	$3.2M	37,461	0.18%	flat	10q	HELD
BRISTOL-MYERS SQUIBB CO	BMY	$3.1M	50,343	0.17%	+0.01pp	12q	HELD
ANALOG DEVICES INC	ADI	$3.1M	7,879	0.17%	-0.01pp	16q	-5.5%-$182.9K
PROGRESSIVE CORP	PGR	$3.1M	15,045	0.17%	+0.03pp	12q	+31.3%+$744.0K
FORTINET INC	FTNT	$3.1M	17,367	0.17%	+0.02pp	12q	+1.8%+$54.2K
AMGEN INC	AMGN	$3.1M	7,300	0.17%	+0.02pp	12q	HELD
UNITED MICROELECTRONICS CORP	UMC	$3.0M	124,326	0.17%	-0.02pp	6q	HELD
VANGUARD INDEX FDS	VNQ	$3.0M	33,790	0.17%	-0.02pp	24q	HELD
ISHARES TR	IWR	$3.0M	28,031	0.17%	-0.01pp	24q	+1.1%+$32.7K
PACCAR INC	PCAR	$3.0M	27,146	0.16%	-0.02pp	24q	HELD
THERMO FISHER SCIENTIFIC INC	TMO	$2.9M	4,259	0.16%	+0.04pp	12q	+1.6%+$46.6K
VANGUARD BD INDEX FDS	BND	$2.9M	40,690	0.16%	-0.01pp	24q	HELD
HCA Healthcare, Inc.	HCA	$2.8M	6,677	0.16%	+0.01pp	12q	+0.9%+$25.6K
HOME DEPOT INC	HD	$2.8M	10,007	0.16%	-0.01pp	12q	+16.8%+$410.2K
ISHARES TR	LQD	$2.7M	26,880	0.15%	-0.01pp	24q	HELD
DEERE CO	DE	$2.7M	4,053	0.15%	+0.01pp	12q	+1.0%+$26.2K
LINDE PLC	LIN	$2.7M	5,724	0.15%	-0.02pp	12q	HELD
CORNING INC	GLW	$2.7M	17,513	0.15%	-0.11pp	10q	-2.3%-$62.7K
GOLDMAN SACHS GROUP INC	GS	$2.6M	2,899	0.14%	-0.02pp	12q	HELD
ARISTA NETWORKS INC	ANET	$2.6M	12,751	0.14%	+0.02pp	8q	+0.5%+$13.0K
WESTERN DIGITAL CORP	WDC	$2.6M	5,671	0.14%	-0.05pp	5q	+5.9%+$143.6K
KLA CORP	KLAC	$2.6M	13,157	0.14%	-0.08pp	10q	HELD
CHUBB LIMITED	CB	$2.6M	7,866	0.14%	-0.01pp	12q	HELD
MARVELL TECHNOLOGY INC	MRVL	$2.5M	9,570	0.14%	-0.06pp	9q	-19.5%-$612.7K
WELLS FARGO & CO	WFC	$2.5M	31,464	0.14%	flat	12q	+3.2%+$77.6K
BLACKSTONE INC	BX	$2.5M	22,130	0.14%	-0.01pp	2q	HELD
ICICI BK LTD	IBN	$2.4M	86,915	0.13%	-0.01pp	10q	HELD
ROYAL BK CDA	RY	$2.4M	12,118	0.13%	-0.01pp	6q	HELD
WELLTOWER INC	WELL	$2.4M	10,261	0.13%	flat	12q	HELD
ACCENTURE PLC IRELAND	ACN	$2.3M	12,727	0.13%	+0.09pp	12q	+125.9%+$1.3M
WOORI FINL GROUP INC	WF	$2.3M	30,807	0.13%	flat	6q	-20.5%-$599.0K
REALTY INCOME CORP	O	$2.3M	42,819	0.13%	-0.02pp	10q	HELD
VANGUARD INDEX FDS	VOO	$2.3M	3,315	0.13%	flat	20q	HELD
SEAGATE TECHNOLOGY HLDNGS PL	STX	$2.3M	2,508	0.13%	flat	5q	+4.9%+$107.9K
SAP SE	SAP	$2.3M	10,952	0.13%	+0.05pp	10q	+29.2%+$515.4K
SALESFORCE INC	CRM	$2.3M	9,855	0.12%	+0.04pp	15q	+2.3%+$50.3K
PROCEPT BIOROBOTICS CORP	PRCT	$2.2M	122,082	0.12%	-0.03pp	18q	-0.7%-$15.1K
ISHARES INC	IEMG	$2.2M	26,721	0.12%	flat	24q	+6.3%+$128.3K
MARATHON PETE CORP	MPC	$2.2M	5,475	0.12%	+0.04pp	12q	HELD
SOUTHERN CO	SO	$2.2M	26,107	0.12%	-0.02pp	12q	-0.9%-$19.2K
BANK OF NY MELLON CORP	BNY	$2.1M	14,776	0.12%	flat	10q	HELD
ISHARES TR	HYG	$2.1M	27,673	0.12%	-0.01pp	24q	HELD
DISNEY WALT CO	DIS	$2.1M	20,367	0.12%	-0.01pp	12q	-14.7%-$366.8K
FASTENAL CO	FAST	$2.1M	42,700	0.12%	flat	12q	+0.8%+$17.7K
CHARLES SCHWAB CORP (THE)	SCHW	$2.1M	21,474	0.12%	flat	12q	HELD
AMERICAN FINANCIAL GROUP INC	AFG	$2.1M	15,171	0.11%	-0.01pp	10q	HELD
TORONTO DOMINION BK ONT	TD	$2.1M	17,650	0.11%	-0.01pp	10q	HELD
ASE TECHNOLOGY HLDG CO LTD	ASX	$2.1M	46,298	0.11%	-0.02pp	6q	-11.5%-$268.4K
ISHARES TR	ICF	$2.0M	32,346	0.11%	-0.01pp	24q	HELD
SHELL PLC	SHEL	$2.0M	21,404	0.11%	+0.02pp	10q	+0.6%+$11.7K
CBOE GLOBAL MKTS INC	CBOE	$2.0M	7,331	0.11%	+0.01pp	10q	-0.9%-$19.0K
DOW HLDGS INC	DOW	$2.0M	73,093	0.11%	flat	4q	HELD
TRUIST FINL CORP	TFC	$2.0M	43,415	0.11%	-0.01pp	12q	-1.0%-$20.9K
SONY GROUP CORP	SONY	$2.0M	85,272	0.11%	+0.02pp	10q	+1.6%+$30.8K
S&P GLOBAL INC	SPGI	$2.0M	5,061	0.11%	-0.01pp	12q	+0.9%+$17.8K
PEPSICO INC	PEP	$2.0M	15,677	0.11%	-0.03pp	12q	-14.8%-$344.6K
ASTRAZENECA PLC	AZN	$2.0M	12,152	0.11%	-0.03pp	3q	-2.6%-$52.2K
QUANTA SVCS INC	PWR	$2.0M	3,039	0.11%	-0.02pp	10q	HELD
ISHARES TR	EFA	$2.0M	18,772	0.11%	flat	24q	-2.0%-$39.8K
CUMMINS INC	CMI	$1.9M	3,748	0.11%	-0.04pp	12q	HELD
ANTERO MIDSTREAM CORP	AM	$1.9M	94,315	0.11%	-0.02pp	10q	HELD
ISHARES TR	IWB	$1.9M	4,535	0.10%	flat	14q	HELD
QUALCOMM INC	QCOM	$1.9M	10,141	0.10%	-0.05pp	12q	-29.9%-$796.5K
SPACE EXPLORATION TECHN CORP	SPCX	$1.9M	12,273	0.10%	-	new	NEW
SK TELECOM CO LTD	SKM	$1.8M	52,767	0.10%	-0.01pp	3q	-11.4%-$237.7K
MSC INDL DIRECT INC	MSM	$1.8M	14,703	0.10%	flat	6q	HELD
GARMIN LTD	GRMN	$1.8M	6,240	0.10%	+0.02pp	10q	+0.8%+$14.1K
TRANE TECHNOLOGIES PLC	TT	$1.8M	3,934	0.10%	-0.01pp	12q	-3.0%-$54.2K
REDDIT INC	RDDT	$1.8M	12,456	0.10%	-0.03pp	9q	-2.7%-$50.1K
VERTEX PHARMACEUTICALS INC	VRTX	$1.8M	3,365	0.10%	flat	12q	HELD
CITIGROUP INC	C	$1.7M	13,267	0.09%	-0.01pp	12q	+4.8%+$78.7K
ABBOTT LABORATORIES	ABT	$1.7M	17,345	0.09%	+0.01pp	12q	+5.6%+$90.8K
CONOCOPHILLIPS	COP	$1.7M	13,599	0.09%	+0.01pp	12q	-2.0%-$34.2K
COLGATE PALMOLIVE CO	CL	$1.7M	19,905	0.09%	-0.01pp	12q	HELD
MCDONALDS CORP	MCD	$1.7M	7,323	0.09%	-0.07pp	12q	-30.5%-$741.5K
INFOSYS LTD	INFY	$1.7M	155,698	0.09%	flat	2q	+2.8%+$44.9K
HSBC HLDGS PLC	HSBC	$1.7M	16,701	0.09%	flat	10q	+1.9%+$30.8K
HEWLETT PACKARD ENTERPRISE C	HPE	$1.7M	25,928	0.09%	+0.03pp	12q	HELD
CADENCE DESIGN SYSTEM INC	CDNS	$1.6M	4,954	0.09%	-0.02pp	12q	-1.3%-$21.5K
DR REDDYS LABS LTD	RDY	$1.6M	126,709	0.09%	+0.03pp	10q	+93.6%+$773.3K
ADOBE INC	ADBE	$1.6M	6,661	0.09%	+0.04pp	24q	+64.5%+$626.5K
NOVARTIS AG	NVS	$1.6M	11,209	0.09%	-0.01pp	7q	-3.1%-$51.3K
BOSTON SCIENTIFIC CORP	BSX	$1.6M	36,501	0.09%	+0.05pp	12q	+107.3%+$824.6K
SHOPIFY INC	SHOP	$1.6M	10,673	0.09%	+0.02pp	8q	HELD
BLUE OWL CAPITAL INC	OWL	$1.6M	171,708	0.09%	flat	2q	HELD
CANADIAN PACIFIC KANSAS CITY	CP	$1.5M	17,874	0.08%	flat	10q	-0.8%-$12.7K
SIMON PPTY GROUP INC NEW	SPG	$1.5M	7,513	0.08%	-0.01pp	10q	HELD
ONEOK INC NEW	OKE	$1.5M	17,648	0.08%	-	new	NEW
CAMECO CORP	CCJ	$1.5M	17,339	0.08%	-0.02pp	10q	-1.0%-$15.1K
NEXTERA ENERGY INC	NEE	$1.5M	19,661	0.08%	-0.02pp	12q	HELD
CAPITAL ONE FINL CORP	COF	$1.5M	7,703	0.08%	-0.01pp	12q	HELD
WILLIAMS COS INC	WMB	$1.5M	21,718	0.08%	-0.01pp	12q	-2.7%-$40.4K
AFLAC INC	AFL	$1.5M	13,123	0.08%	-0.01pp	24q	HELD
WP CAREY INC	WPC	$1.5M	22,498	0.08%	-0.01pp	10q	HELD
KINDER MORGAN INC DEL	KMI	$1.4M	47,652	0.08%	-0.01pp	12q	-1.7%-$25.1K
SUNCOR ENERGY INC NEW	SU	$1.4M	21,103	0.08%	+0.02pp	6q	+6.0%+$81.0K
VANGUARD INDEX FDS	VUG	$1.4M	15,858	0.08%	flat	17q	HELD
CVS HEALTH CORP	CVS	$1.4M	16,636	0.08%	-0.02pp	12q	-3.8%-$57.1K
AMERICAN ELEC PWR CO INC	AEP	$1.4M	11,971	0.08%	-0.01pp	12q	+2.4%+$32.6K
TJX COS INC NEW	TJX	$1.4M	10,648	0.08%	-0.05pp	12q	-28.4%-$560.1K
AUTOMATIC DATA PROCESSING IN	ADP	$1.4M	5,413	0.08%	+0.01pp	12q	HELD
STARBUCKS CORP	SBUX	$1.4M	14,834	0.08%	-0.01pp	12q	HELD
MOODYS CORP	MCO	$1.4M	3,049	0.08%	flat	10q	HELD
MONDELEZ INTL INC	MDLZ	$1.4M	23,840	0.08%	flat	12q	HELD
DILLARDS INC	DDS	$1.4M	2,046	0.08%	+0.01pp	6q	HELD
ALIBABA GROUP HLDG LTD	BABA	$1.4M	12,649	0.08%	-	new	NEW
nan	MELI	$1.4M	782	0.07%	flat	10q	HELD
ROBERT HALF INC.	RHI	$1.3M	36,701	0.07%	+0.01pp	2q	HELD
GALLAGHER ARTHUR J CO	AJG	$1.3M	5,873	0.07%	flat	10q	HELD
SLB LIMITED	SLB	$1.3M	27,453	0.07%	flat	5q	HELD
JOHNSON CONTROLS INTERNATION	JCI	$1.3M	8,874	0.07%	flat	12q	HELD
DT MIDSTREAM INC	DTM	$1.3M	10,786	0.07%	-0.02pp	10q	-2.9%-$38.8K
WASTE MGMT INC DEL	WM	$1.3M	6,295	0.07%	-0.01pp	12q	-0.7%-$8.8K
HP INC	HPQ	$1.3M	40,869	0.07%	+0.02pp	10q	+2.9%+$36.0K
STATE STR SPDR S&P MIDCAP 40	MDY	$1.3M	1,935	0.07%	-0.01pp	24q	HELD
MARRIOTT INTL INC NEW	MAR	$1.3M	3,564	0.07%	flat	12q	HELD
ELEVANCE HEALTH INC FORMERLY	ELV	$1.3M	3,232	0.07%	flat	12q	+7.8%+$91.4K
DUKE ENERGY CORP NEW	DUK	$1.3M	11,007	0.07%	-0.02pp	12q	-10.8%-$151.2K
HF SINCLAIR CORP	DINO	$1.3M	11,692	0.07%	+0.02pp	6q	HELD
BOOKING HOLDINGS INC	BKNG	$1.2M	7,648	0.07%	flat	10q	+8.3%+$95.1K
Rio Tinto PLC	RIO	$1.2M	13,108	0.07%	flat	12q	HELD
INTUIT	INTU	$1.2M	4,451	0.07%	+0.03pp	12q	+94.1%+$595.0K
PETROLEO BRASILEIRO S A	PBR	$1.2M	58,593	0.07%	+0.02pp	6q	+6.1%+$70.5K
MCKESSON CORP	MCK	$1.2M	1,429	0.07%	+0.01pp	12q	HELD
ARES MANAGEMENT CORPORATION	ARES	$1.2M	10,472	0.07%	flat	2q	HELD
NOVO-NORDISK A S	NVO	$1.2M	32,088	0.07%	flat	12q	+38.0%+$334.7K
CRH PLC	CRH	$1.2M	14,640	0.07%	-0.02pp	10q	+4.3%+$49.8K
Dominion Energy, Inc.	D	$1.2M	19,840	0.07%	-0.01pp	12q	-1.2%-$14.0K
CLOUDFLARE INC	NET	$1.2M	3,453	0.07%	+0.02pp	7q	+3.0%+$34.4K
BIOGEN INC	BIIB	$1.2M	5,216	0.07%	flat	6q	HELD
REPUBLIC SVCS INC	RSG	$1.2M	5,537	0.06%	flat	10q	HELD
PAYCHEX INC	PAYX	$1.2M	11,690	0.06%	flat	12q	HELD
T MOBILE US INC	TMUS	$1.1M	7,036	0.06%	flat	12q	HELD
LOGITECH INTL S A	LOGI	$1.1M	11,341	0.06%	flat	10q	HELD
J P MORGAN EXCHANGE TRADED F	JEPI	$1.1M	20,363	0.06%	flat	8q	HELD
MOTOROLA SOLUTIONS INC	MSI	$1.1M	2,562	0.06%	flat	12q	+0.7%+$8.0K
DATADOG INC	DDOG	$1.1M	4,161	0.06%	flat	3q	+1.4%+$15.9K
TRAVELERS COMPANIES INC	TRV	$1.1M	3,170	0.06%	flat	12q	HELD
UNILEVER PLC	UL	$1.1M	18,451	0.06%	flat	4q	HELD
INTERCONTINENTAL EXCHANGE IN	ICE	$1.1M	7,370	0.06%	+0.01pp	12q	+1.9%+$20.5K
BANK OF MONTREAL	BMO	$1.1M	6,698	0.06%	-0.01pp	6q	HELD
FEDEX CORP	FDX	$1.1M	3,920	0.06%	-0.01pp	10q	HELD
CSX CORP	CSX	$1.1M	23,906	0.06%	flat	12q	HELD
TPG INC	TPG	$1.1M	25,179	0.06%	flat	10q	+0.9%+$9.4K
SYNOPSYS INC	SNPS	$1.1M	2,549	0.06%	flat	10q	+2.4%+$25.7K
VERTIV HOLDINGS CO	VRT	$1.1M	4,572	0.06%	-0.02pp	6q	+1.8%+$19.5K
NETAPP INC	NTAP	$1.1M	5,223	0.06%	+0.01pp	12q	HELD
UBER TECHNOLOGIES INC	UBER	$1.1M	16,010	0.06%	+0.02pp	12q	+77.8%+$479.9K
REGENERON PHARMACEUTICALS	REGN	$1.1M	1,446	0.06%	+0.04pp	12q	+153.7%+$664.2K
3M CO	MMM	$1.1M	6,620	0.06%	flat	10q	+0.8%+$8.4K
BOEING CO	BA	$1.1M	5,840	0.06%	-0.02pp	12q	-5.3%-$60.8K
PHILLIPS 66	PSX	$1.1M	4,205	0.06%	+0.02pp	12q	+5.3%+$54.1K
VALERO ENERGY CORP	VLO	$1.1M	2,710	0.06%	+0.02pp	12q	+2.4%+$24.4K
KIMBERLY CLARK CORP	KMB	$1.1M	10,781	0.06%	-0.01pp	3q	-2.8%-$30.5K
LOCKHEED MARTIN CORP	LMT	$1.0M	2,060	0.06%	flat	12q	+6.8%+$66.7K
KEYSIGHT TECHNOLOGIES INC	KEYS	$1.0M	2,873	0.06%	flat	5q	HELD
MARSH & MCLENNAN COS INC	MRSH	$1.0M	6,125	0.06%	+0.03pp	12q	+96.6%+$513.9K
ALLSTATE CORP	ALL	$1.0M	4,703	0.06%	-0.01pp	10q	HELD
TOTALENERGIES SE	TTE	$1.0M	12,170	0.06%	flat	3q	-3.4%-$36.3K
HOST HOTELS & RESORTS INC	HST	$1.0M	46,413	0.06%	flat	6q	HELD
ITAU UNIBANCO HLDG S A	ITUB	$1.0M	121,373	0.06%	flat	6q	-0.9%-$8.9K
STRYKER CORPORATION	SYK	$1.0M	3,754	0.06%	-0.01pp	12q	-3.2%-$33.9K
OMEGA HEALTHCARE INVS INC	OHI	$1.0M	22,173	0.06%	flat	10q	HELD
EXPEDITORS INTL WASH INC	EXPD	$1.0M	5,554	0.06%	+0.01pp	12q	HELD
TARGET CORP	TGT	$1.0M	6,507	0.06%	+0.01pp	12q	HELD
BP PLC	BP	$1.0M	23,166	0.06%	+0.01pp	4q	+2.4%+$24.2K
GENERAL MILLS INC	GIS	$1.0M	31,672	0.06%	-	new	NEW
REGIONS FINANCIAL CORP NEW	RF	$1.0M	37,851	0.06%	-0.01pp	12q	HELD
ISHARES TR	RXI	$1.0M	5,490	0.06%	flat	24q	HELD
MSCI INC	MSCI	$1.0M	1,881	0.06%	-0.01pp	12q	-2.9%-$30.7K
TE CONNECTIVITY PLC	TEL	$1.0M	4,788	0.06%	flat	5q	+2.4%+$23.9K
RTX CORPORATION	RTX	$1.0M	5,433	0.06%	flat	12q	+4.0%+$38.4K
EQUINIX INC	EQIX	$1.0M	991	0.06%	flat	12q	-0.6%-$6.1K
NORTHROP GRUMMAN CORP	NOC	$1.0M	2,070	0.06%	flat	12q	HELD
SNOWFLAKE INC	SNOW	$996.6K	2,935	0.06%	+0.01pp	19q	+2.8%+$27.2K
SHERWIN WILLIAMS CO	SHW	$988.6K	3,058	0.05%	-0.01pp	12q	HELD
ROSS STORES INC	ROST	$985.2K	4,221	0.05%	flat	12q	-0.9%-$8.9K
SELECT SECTOR SPDR TR	XLY	$975.6K	8,964	0.05%	-0.01pp	17q	HELD
SERVICENOW INC	NOW	$974.3K	7,270	0.05%	+0.01pp	10q	+4.8%+$45.0K
NEWMONT CORP	NEM	$961.7K	8,338	0.05%	+0.01pp	11q	-1.1%-$10.6K
LOWES COS INC	LOW	$949.6K	5,153	0.05%	-0.01pp	12q	+3.5%+$32.3K
MONSTER BEVERAGE CORP NEW	MNST	$948.3K	22,784	0.05%	-0.01pp	12q	HELD
ASTERA LABS INC	ALAB	$939.4K	2,639	0.05%	-0.02pp	6q	+6.2%+$54.8K
EXELON CORP	EXC	$936.2K	23,174	0.05%	-0.01pp	12q	-3.6%-$34.7K
TOYOTA MOTOR CORP	TM	$935.1K	5,107	0.05%	flat	10q	HELD
HONEYWELL INTL INC	HON	$921.4K	4,368	0.05%	flat	2q	+2.7%+$24.3K
ILLINOIS TOOL WKS INC	ITW	$921.3K	3,581	0.05%	flat	12q	HELD
POSCO HOLDINGS INC	PKX	$920.6K	16,319	0.05%	-0.09pp	6q	-66.5%-$1.8M
AUTOZONE INC	AZO	$916.9K	324	0.05%	-0.01pp	10q	-0.6%-$5.7K
ELBIT SYS LTD	ESLT	$905.0K	1,327	0.05%	-0.01pp	10q	HELD
CANADIAN NAT RES LTD MED TER	CNQ	$903.5K	19,194	0.05%	+0.01pp	6q	+1.9%+$17.1K
VANGUARD SCOTTSDALE FDS	VCIT	$901.0K	11,505	0.05%	-0.01pp	5q	-2.1%-$19.6K
CONSOLIDATED EDISON INC	ED	$899.4K	8,800	0.05%	flat	4q	+3.6%+$31.6K
WORKDAY INC	WDAY	$898.8K	4,719	0.05%	+0.02pp	2q	+6.2%+$52.8K
COCA COLA CONS INC	COKE	$886.2K	4,682	0.05%	flat	10q	HELD
MEDTRONIC PLC	MDT	$884.0K	10,245	0.05%	+0.01pp	11q	+5.3%+$44.9K
DARDEN RESTAURANTS INC	DRI	$882.0K	4,564	0.05%	flat	10q	HELD
VANGUARD MUN BD FDS	VTEB	$881.5K	18,614	0.05%	flat	24q	HELD
TERADYNE INC	TER	$878.0K	2,190	0.05%	-0.01pp	5q	+0.6%+$5.6K
LYONDELLBASELL INDUSTRIES NV	LYB	$870.6K	15,148	0.05%	+0.01pp	3q	+5.2%+$43.2K
AON PLC	AON	$863.0K	3,118	0.05%	-0.01pp	12q	-3.0%-$26.8K
CIENA CORP	CIEN	$861.3K	2,448	0.05%	-0.02pp	5q	HELD
EMERSON ELEC CO	EMR	$857.1K	5,526	0.05%	flat	12q	+1.3%+$11.3K
ISHARES TR	IEFA	$853.2K	8,807	0.05%	-0.02pp	7q	-24.3%-$273.6K
NU HLDGS LTD	NU	$845.1K	66,753	0.05%	flat	20q	+0.6%+$4.9K
EDISON INTL	EIX	$842.2K	15,675	0.05%	-0.03pp	11q	-7.7%-$70.0K
VANGUARD SCOTTSDALE FDS	VCSH	$837.2K	10,837	0.05%	-0.01pp	24q	-12.6%-$120.5K
OKTA INC	OKTA	$834.1K	3,989	0.05%	+0.02pp	2q	+5.5%+$43.3K
KEYCORP	KEY	$823.6K	41,038	0.05%	-0.01pp	6q	-4.0%-$34.6K
CONSTELLATION ENERGY CORP	CEG	$821.5K	3,234	0.05%	flat	11q	+5.4%+$42.4K
10X GENOMICS INC	TXG	$818.7K	9,060	0.05%	+0.03pp	2q	HELD
NORFOLK SOUTHN CORP	NSC	$814.8K	2,637	0.05%	flat	12q	+5.0%+$38.9K
BRITISH AMERN TOB PLC	BTI	$811.3K	14,913	0.04%	-0.02pp	6q	-20.9%-$214.2K
PROLOGIS INC.	PLD	$810.1K	6,239	0.04%	-0.01pp	12q	-5.0%-$42.3K
VISTRA CORP	VST	$802.7K	5,802	0.04%	flat	9q	+5.7%+$43.6K
AUTODESK INC	ADSK	$795.9K	3,808	0.04%	+0.01pp	12q	+10.5%+$75.9K
AMERIPRISE FINL INC	AMP	$794.2K	1,613	0.04%	flat	10q	HELD
ISHARES TR	IWM	$788.1K	2,836	0.04%	flat	24q	+3.8%+$28.9K
NETEASE COM INC	NTES	$772.6K	6,377	0.04%	flat	10q	HELD
DIGITAL RLTY TR INC	DLR	$770.4K	4,389	0.04%	flat	12q	-0.7%-$5.1K
NASDAQ INC	NDAQ	$770.3K	8,372	0.04%	+0.01pp	10q	HELD
CENOVUS ENERGY INC	CVE	$764.6K	24,601	0.04%	+0.01pp	6q	+2.4%+$18.2K
FIDELITY COMWLTH TR	ONEQ	$764.1K	7,220	0.04%	-	new	NEW
TFS FINL CORP	TFSL	$762.5K	47,067	0.04%	-0.01pp	10q	HELD
WIPRO LTD	WIT	$762.2K	461,924	0.04%	-0.07pp	10q	-48.8%-$725.2K
ISHARES GOLD TR	IAU	$759.8K	9,729	0.04%	flat	7q	HELD
O'REILLY AUTOMOTIVE INC	ORLY	$751.1K	8,794	0.04%	-0.01pp	12q	-4.1%-$32.1K
DEVON ENERGY CORP NEW	DVN	$750.4K	16,299	0.04%	flat	7q	+2.8%+$20.6K
LUMENTUM HLDGS INC	LITE	$745.9K	768	0.04%	flat	3q	-4.7%-$36.9K
Rogers Communications, Inc.	RCI	$737.3K	23,938	0.04%	flat	6q	-0.7%-$5.5K
GENERAL DYNAMICS CORP	GD	$733.0K	2,209	0.04%	flat	12q	-0.6%-$4.6K
CINTAS CORP	CTAS	$725.6K	3,720	0.04%	flat	12q	+0.9%+$6.4K
H WORLD GROUP LTD	HTHT	$725.2K	16,944	0.04%	flat	10q	HELD
OCCIDENTAL PETE CORP	OXY	$720.9K	13,032	0.04%	+0.01pp	8q	+16.8%+$103.7K
BANK NOVA SCOTIA B C	BNS	$717.5K	7,898	0.04%	flat	6q	+0.5%+$3.7K
WW GRAINGER INC	GWW	$716.3K	575	0.04%	-0.01pp	4q	-0.9%-$6.2K
MODERNA INC	MRNA	$715.4K	3,715	0.04%	+0.02pp	2q	-4.3%-$31.8K
FRANKLIN TEMPLETON INC	BEN	$714.1K	22,233	0.04%	flat	2q	HELD
ROYAL CARIBBEAN GROUP	RCL	$710.1K	2,671	0.04%	-0.03pp	12q	-28.2%-$278.4K
ANHEUSER BUSCH INBEV SA/NV	BUD	$710.1K	9,665	0.04%	-0.01pp	4q	HELD
FLEX LTD	FLEX	$697.6K	6,342	0.04%	-0.02pp	3q	-0.6%-$4.3K
AGNC INVT CORP	AGNC	$691.2K	76,202	0.04%	-0.01pp	10q	-4.7%-$34.3K
SUPER MICRO COMPUTER INC	SMCI	$689.1K	16,779	0.04%	+0.01pp	8q	+15.5%+$92.4K
FORD MTR CO	F	$687.4K	56,996	0.04%	-0.01pp	5q	-0.9%-$6.0K
VANGUARD BD INDEX FDS	BIV	$686.0K	9,415	0.04%	flat	16q	HELD
BIO RAD LABS INC	BIO	$680.6K	1,802	0.04%	+0.01pp	10q	HELD
POLARIS INC	PII	$680.2K	13,043	0.04%	-0.01pp	6q	-0.8%-$5.6K
CANADIAN IMPERIAL BANK OF CO	CM	$677.5K	6,149	0.04%	flat	6q	HELD
GENERAL MTRS CO	GM	$674.6K	8,761	0.04%	flat	10q	+3.0%+$19.7K
ROBINHOOD MKTS INC	HOOD	$672.0K	5,973	0.04%	+0.01pp	5q	+9.5%+$58.2K
GSK PLC	GSK	$670.3K	13,916	0.04%	-0.01pp	6q	-4.5%-$31.5K
WARNER BROS DISCOVERY INC	WBD	$669.9K	21,643	0.04%	flat	5q	-9.5%-$70.2K
EBAY INC.	EBAY	$667.6K	6,295	0.04%	flat	11q	-1.0%-$6.8K
PNC FINL SVCS GROUP INC	PNC	$665.7K	2,995	0.04%	flat	12q	HELD
VERISIGN INC	VRSN	$663.6K	2,353	0.04%	flat	12q	-7.4%-$53.0K
DIAMONDBACK ENERGY INC	FANG	$661.9K	3,601	0.04%	flat	12q	-1.2%-$8.1K
APPLOVIN CORP	APP	$659.0K	2,269	0.04%	-0.10pp	8q	-49.8%-$652.9K
TWILIO INC	TWLO	$656.3K	2,244	0.04%	+0.01pp	2q	-1.4%-$9.7K
DOORDASH INC	DASH	$656.0K	3,574	0.04%	flat	2q	+1.1%+$7.2K
CARRIER GLOBAL CORPORATION	CARR	$653.9K	11,919	0.04%	+0.01pp	12q	+93.5%+$315.9K
NXP SEMICONDUCTORS N V	NXPI	$651.8K	2,744	0.04%	-0.02pp	10q	-27.7%-$249.2K
KENVUE INC	KVUE	$646.7K	36,617	0.04%	flat	7q	-0.6%-$3.6K
COMCAST CORP NEW	CMCSA	$646.4K	29,704	0.04%	flat	12q	+32.4%+$158.3K
AMERICAN TOWER CORP	AMT	$642.5K	3,925	0.04%	flat	12q	-2.5%-$16.7K
BLACKROCK INC	BLK	$642.4K	607	0.04%	flat	8q	+5.4%+$32.8K
ISHARES TR	IWV	$631.5K	1,463	0.03%	flat	15q	HELD
JABIL INC	JBL	$627.6K	2,188	0.03%	-0.01pp	8q	HELD
FREEPORT-MCMORAN INC	FCX	$618.2K	8,831	0.03%	+0.01pp	10q	+10.4%+$58.0K
ZOETIS INC	ZTS	$618.1K	8,852	0.03%	+0.02pp	12q	+139.4%+$359.9K
VANGUARD BD INDEX FDS	BSV	$618.0K	8,089	0.03%	flat	16q	-0.8%-$4.9K
ROYALTY PHARMA PLC	RPRX	$612.4K	10,493	0.03%	flat	7q	HELD
ARGENX SE	ARGX	$606.0K	632	0.03%	flat	5q	-2.6%-$16.3K
DBX ETF TR	DBEF	$604.6K	11,002	0.03%	flat	24q	HELD
LAZARD INC	LAZ	$603.2K	16,649	0.03%	-0.01pp	6q	-2.9%-$17.8K
CROWN CASTLE INC	CCI	$602.4K	9,039	0.03%	-	new	NEW
CHURCH & DWIGHT CO INC	CHD	$601.5K	6,384	0.03%	flat	12q	HELD
AMETEK INC	AME	$598.3K	2,415	0.03%	flat	12q	HELD
DIMENSIONAL ETF TRUST	DFUS	$597.0K	7,190	0.03%	flat	22q	HELD
TRADEWEB MKTS INC	TW	$592.1K	5,872	0.03%	flat	10q	HELD
ROCKWELL AUTOMATION INC	ROK	$589.4K	1,354	0.03%	-0.01pp	12q	HELD
AIRBNB INC	ABNB	$589.4K	3,669	0.03%	flat	11q	+7.1%+$38.9K
LIBERTY MEDIA CORP DEL	FWONA	$585.3K	6,916	0.03%	flat	6q	HELD
ISHARES INC	EWT	$579.4K	5,132	0.03%	flat	22q	HELD
ONEMAIN HLDGS INC	OMF	$579.0K	10,453	0.03%	flat	10q	HELD
BECTON DICKINSON CO	BDX	$578.9K	3,234	0.03%	flat	12q	HELD
ATLASSIAN CORPORATION	TEAM	$578.7K	3,228	0.03%	+0.02pp	2q	+3.7%+$20.6K
DOLLAR GEN CORP	DG	$574.3K	4,803	0.03%	flat	7q	HELD
CHUNGHWA TELECOM CO LTD	CHT	$573.5K	12,610	0.03%	-0.03pp	3q	-48.8%-$546.9K
THE CIGNA GROUP	CI	$567.0K	2,086	0.03%	flat	12q	-2.8%-$16.0K
HONEYWELL AEROSPACE INC	HONA	$564.2K	3,641	0.03%	-0.02pp	2q	-14.4%-$94.8K
METTLER TOLEDO INTERNATIONAL	MTD	$562.1K	372	0.03%	flat	12q	+2.2%+$12.1K
UNITED RENTALS INC	URI	$559.4K	559	0.03%	+0.02pp	2q	+128.2%+$314.2K
TOWER SEMICONDUCTOR LTD	TSEM	$558.3K	2,455	0.03%	-0.01pp	3q	HELD
BLOCK INC	XYZ	$558.1K	7,590	0.03%	flat	3q	-0.8%-$4.5K
EDWARDS LIFESCIENCES CORP	EW	$556.9K	6,452	0.03%	flat	12q	+0.6%+$3.5K
CBRE GROUP INC	CBRE	$553.7K	4,310	0.03%	flat	10q	+2.6%+$14.1K
STMICROELECTRONICS N V	STM	$548.6K	10,281	0.03%	-0.01pp	6q	+3.6%+$19.0K
COHERENT CORP	COHR	$546.8K	1,900	0.03%	-0.01pp	3q	+10.0%+$49.8K
US BANCORP	USB	$546.7K	9,465	0.03%	flat	10q	+1.7%+$9.1K
CANADIAN NATL RY CO	CNI	$540.4K	4,545	0.03%	flat	6q	HELD
ECOLAB INC	ECL	$540.1K	1,967	0.03%	flat	12q	+0.5%+$2.7K
ILLUMINA INC	ILMN	$535.3K	1,956	0.03%	+0.01pp	4q	HELD
CUBESMART	CUBE	$531.0K	14,131	0.03%	flat	12q	-2.2%-$12.1K
UNITED AIRLS HLDGS INC	UAL	$530.1K	4,778	0.03%	-0.01pp	11q	-0.6%-$3.0K
F5 INC	FFIV	$526.6K	1,183	0.03%	flat	10q	HELD
ADVANCED ENERGY INDS	AEIS	$526.4K	1,868	0.03%	-0.01pp	3q	-3.8%-$20.9K
PAYPAL HLDGS INC	PYPL	$523.8K	9,971	0.03%	+0.01pp	12q	+3.3%+$16.5K
SPOTIFY TECHNOLOGY S A	SPOT	$519.5K	1,066	0.03%	flat	3q	+2.8%+$14.1K
CHECK POINT SOFTWARE TECH LT	CHKP	$518.3K	4,038	0.03%	flat	2q	+0.6%+$3.2K

Showing the largest 400 of 607 positions.

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	$309.7M	17.1%
Software & IT Services	$282.5M	15.6%
Computer Hardware	$142.5M	7.9%
Biotech & Pharma	$78.1M	4.3%
Retail & Consumer	$75.5M	4.2%
Banks & Lending	$67.5M	3.7%
Funds & ETFs	$65.7M	3.6%
Telecom & Media	$59.4M	3.3%
Energy	$45.0M	2.5%
Business Services	$42.2M	2.3%
Autos & Aerospace	$41.7M	2.3%
Industrials	$37.3M	2.1%
Other sectors	$250.6M	13.8%
Not classified	$312.7M	17.3%

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	+1.0%	+2.1%	-1.1%	100%
Q2 2026	+15.0%	+14.8%	+0.1%	100%
Q1 2026	-3.9%	-4.6%	+0.7%	100%
Q4 2025	+1.9%	+2.4%	-0.5%	100%
Q3 2025	+7.5%	+7.8%	-0.4%	100%
Q2 2025	+13.2%	+10.5%	+2.7%	100%
Q1 2025	-5.3%	-4.6%	-0.7%	100%
Q4 2024	+2.9%	+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	$1.8B	607	31	183	171	36	39.2%	16
Q2 2026	$1.8B	612	72	271	148	50	37.3%	27
Q1 2026	$1.5B	590	51	201	123	61	38.4%	29
Q4 2025	$1.6B	600	61	257	105	54	39.8%	15
Q3 2025	$1.6B	593	69	192	128	37	40.8%	35
Q2 2025	$1.5B	561	102	153	220	53	42.3%	42
Q1 2025	$1.3B	512	43	216	158	49	41.2%	42
Q4 2024	$1.4B	518	45	228	130	54	42.8%	41
Q3 2024	$1.4B	527	36	143	190	47	40.3%	24
Q2 2024	$1.4B	538	210	258	11	8	41.3%	44
Q1 2024	$519.5M	336	24	24	22	3	70.2%	39
Q4 2023	$479.3M	315	217	21	8	3	70.5%	44
Q3 2023	$413.5M	101	2	16	14	13	71.0%	45
Q2 2023	$418.6M	112	9	23	19	5	70.1%	45
Q1 2023	$361.9M	108	13	15	13	1	67.5%	45
Q4 2022	$321.0M	96	9	0	87	6	69.9%	250
Q3 2022	$277.2B	93	12	24	11	6	67.2%	342
Q2 2022	$261.8B	87	10	11	28	44	65.7%	434
Q1 2022	$312.3B	121	11	30	14	6	64.2%	525
Q4 2021	$298.1B	116	15	48	11	7	63.9%	615
Q3 2021	$258.9B	108	31	17	28	5	64.7%	707
Q2 2021	$255.9B	82	6	11	8	7	72.4%	805
Q1 2021	$226.0B	83	4	11	8	8	72.8%	896
Q4 2020	$220.7B	87	0	0	0	0	69.6%	986

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.