DaveManuel.com · Institutional Ownership · 13F Holdings

Discipline Wealth Solutions, LLC

Reported holdings as of Q3 2026, from 12 quarterly filings.

CIK

2010507

Reported value

$1.2B

Positions

196

Top 10 weight

46.2%

Filed

2026-10-14

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
DIMENSIONAL ETF TRUST	DFAC	$120.9M	2,719,029	10.50%	+0.46pp	12q	+4.9%+$5.7M
VANGUARD BD INDEX FDS	BIV	$64.5M	884,674	5.60%	+0.12pp	12q	+8.1%+$4.8M
VANGUARD INDEX FDS	VBR	$55.8M	241,314	4.84%	-0.42pp	12q	-2.7%-$1.5M
VANGUARD INDEX FDS	VOO	$51.0M	72,705	4.42%	+0.26pp	12q	+4.6%+$2.2M
VANGUARD TAX-MANAGED FDS	VEA	$49.4M	699,721	4.29%	+0.26pp	12q	+8.0%+$3.7M
DIREXION SHARES ETF TRUST	HCMT	$42.5M	995,902	3.69%	-0.71pp	9q	-17.2%-$8.8M
VANGUARD INDEX FDS	VB	$40.9M	143,785	3.55%	-0.31pp	12q	-1.6%-$658.3K
DIMENSIONAL ETF TRUST	DFIS	$37.9M	1,047,400	3.30%	+0.19pp	12q	+3.2%+$1.2M
ISHARES TR	AGG	$36.0M	380,984	3.13%	-0.14pp	10q	+0.7%+$242.5K
VANGUARD CHARLOTTE FDS	BNDX	$33.0M	704,792	2.87%	+0.09pp	12q	+7.1%+$2.2M
VANGUARD INDEX FDS	VTI	$32.1M	85,713	2.79%	+0.03pp	12q	HELD
DFA INVT DIMENSIONS GROUP IN	DUHP	$28.2M	671,854	2.45%	-	new	NEW
VANGUARD INDEX FDS	VTV	$27.4M	126,642	2.38%	-0.07pp	12q	-1.5%-$423.5K
DIMENSIONAL ETF TRUST	DFIC	$26.3M	698,673	2.28%	-0.08pp	6q	-3.7%-$1.0M
DIMENSIONAL ETF TRUST	DFEM	$24.0M	603,087	2.08%	+0.12pp	12q	+9.0%+$2.0M
VANGUARD BD INDEX FDS	BSV	$23.9M	312,847	2.08%	-0.03pp	12q	+1.1%+$253.2K
AMERICAN CENTY ETF TR	AVDV	$21.6M	197,136	1.87%	+0.12pp	12q	+1.0%+$204.5K
ISHARES TR	IGSB	$20.0M	391,100	1.74%	+0.08pp	12q	+7.6%+$1.4M
NORTHERN LTS FD TR III	QQH	$16.8M	191,913	1.46%	+0.03pp	9q	HELD
VANGUARD SCOTTSDALE FDS	VGSH	$16.2M	281,106	1.41%	-0.02pp	4q	HELD
NORTHERN LTS FD TR III	LGH	$15.4M	234,060	1.34%	+0.07pp	9q	+2.9%+$433.8K
VANGUARD INTL EQUITY INDEX F	VEU	$14.9M	179,277	1.29%	-0.02pp	6q	HELD
ISHARES TR	STIP	$14.4M	144,740	1.25%	+0.08pp	5q	+9.9%+$1.3M
VANGUARD INTL EQUITY INDEX F	VPL	$12.0M	103,571	1.04%	-0.01pp	5q	-0.9%-$112.9K
VANGUARD STAR FDS	VXUS	$11.8M	139,362	1.03%	flat	5q	+1.1%+$126.8K
VANGUARD INDEX FDS	VNQ	$11.8M	131,416	1.02%	-0.07pp	6q	+1.1%+$127.5K
VANGUARD INTL EQUITY INDEX F	VSS	$11.7M	75,115	1.01%	+0.02pp	5q	+1.8%+$208.2K
DIMENSIONAL ETF TRUST	DFAS	$11.6M	149,499	1.01%	+0.04pp	12q	+11.0%+$1.1M
DFA INVT DIMENSIONS GROUP IN	DFSV	$11.3M	301,098	0.98%	-	new	NEW
DIMENSIONAL ETF TRUST	DIHP	$10.6M	314,450	0.92%	-0.05pp	6q	-3.5%-$380.3K
VANGUARD INTL EQUITY INDEX F	VGK	$10.6M	121,861	0.92%	-0.02pp	5q	HELD
VANGUARD BD INDEX FDS	BND	$10.1M	143,674	0.88%	flat	12q	+4.7%+$455.2K
DIMENSIONAL ETF TRUST	DFSD	$9.8M	211,439	0.85%	-0.31pp	5q	-24.5%-$3.2M
APPLE INC	AAPL	$9.7M	29,179	0.84%	+0.11pp	9q	HELD
DIMENSIONAL ETF TRUST	DFAE	$8.7M	221,584	0.76%	-0.04pp	5q	-2.3%-$208.7K
VANGUARD INTL EQUITY INDEX F	VWO	$8.6M	144,755	0.75%	+0.02pp	5q	+4.6%+$378.9K
PROSHARES TR	QLD	$7.7M	80,630	0.67%	+0.07pp	9q	+13.4%+$910.4K
SPDR SERIES TRUST	CWB	$7.3M	72,628	0.64%	-0.05pp	5q	HELD
WISDOMTREE TR	DGS	$7.3M	115,059	0.63%	-0.04pp	9q	-2.6%-$196.0K
ISHARES TR	IAGG	$7.1M	145,054	0.62%	-0.11pp	5q	-11.7%-$948.5K
AIM ETF PRODUCTS TRUST	JANU	$7.0M	228,354	0.60%	+0.03pp	7q	+3.8%+$251.9K
PROSHARES TR	TQQQ	$5.8M	74,235	0.50%	+0.02pp	9q	+8.9%+$471.1K
SPDR SERIES TRUST	BIL	$5.3M	57,710	0.46%	+0.20pp	9q	+77.3%+$2.3M
SPROTT ASSET MANAGEMENT LP	PHYS	$5.2M	166,890	0.45%	+0.33pp	3q	+261.7%+$3.8M
ISHARES TR	IVV	$5.0M	6,493	0.43%	-0.01pp	10q	-4.4%-$230.5K
NVIDIA CORPORATION	NVDA	$4.8M	21,042	0.42%	+0.05pp	9q	-1.3%-$62.8K
PROSHARES TR	EFO	$4.6M	64,635	0.40%	-0.03pp	5q	-4.7%-$225.9K
VANGUARD MALVERN FDS	VTIP	$3.9M	79,688	0.34%	flat	6q	+3.6%+$134.8K
ISHARES GOLD TR	IAU	$3.8M	48,774	0.33%	-0.17pp	5q	-36.1%-$2.1M
ABRDN PRECIOUS METALS BASKET	GLTR	$3.8M	20,357	0.33%	+0.10pp	5q	+41.4%+$1.1M
ISHARES TR	ITOT	$3.7M	22,401	0.32%	+0.01pp	6q	+1.1%+$41.2K
AMAZON COM INC	AMZN	$3.6M	14,481	0.31%	+0.01pp	5q	-2.1%-$78.0K
VANGUARD SCOTTSDALE FDS	VCSH	$3.5M	45,050	0.30%	flat	6q	+4.5%+$150.4K
SPDR GOLD TR	GLD	$3.4M	8,899	0.29%	-0.04pp	9q	-15.1%-$600.6K
ISHARES TR	SHY	$3.2M	39,791	0.28%	flat	9q	+0.6%+$18.8K
ISHARES TR	SGOV	$3.0M	30,271	0.26%	-0.02pp	9q	-6.0%-$193.4K
MICROSOFT CORP	MSFT	$3.0M	5,900	0.26%	+0.07pp	10q	HELD
VANGUARD WORLD FD	VGT	$2.9M	23,314	0.25%	+0.05pp	4q	+16.8%+$421.5K
FLEXSHARES TR	TILT	$2.9M	10,561	0.25%	flat	10q	HELD
PROSHARES TR	SSO	$2.7M	39,523	0.24%	+0.06pp	9q	+31.3%+$653.5K
SPROTT ASSET MANAGEMENT LP	PSLV	$2.7M	140,899	0.24%	+0.17pp	3q	+240.5%+$1.9M
DIREXION SHARES ETF TRUST	SPXL	$2.4M	8,711	0.21%	+0.07pp	6q	+47.7%+$791.3K
STRATEGY SHS	SSUS	$2.4M	43,578	0.21%	-0.10pp	8q	-31.8%-$1.1M
VANGUARD SPECIALIZED FUNDS	VIG	$2.2M	9,437	0.19%	flat	5q	HELD
FLEXSHARES TR	TLTD	$2.0M	19,966	0.18%	flat	10q	-1.2%-$24.7K
ISHARES SILVER TR	SLV	$2.0M	36,523	0.17%	flat	8q	-3.3%-$66.9K
ISHARES TR	IVE	$1.9M	8,146	0.16%	flat	10q	-0.7%-$12.8K
JPMORGAN CHASE & CO	JPM	$1.8M	5,297	0.15%	flat	9q	HELD
MERCK & CO INC	MRK	$1.8M	12,047	0.15%	+0.02pp	5q	HELD
ISHARES TR	EFV	$1.7M	21,381	0.15%	flat	10q	HELD
INVESCO QQQ TR	QQQ	$1.7M	2,247	0.14%	flat	9q	+0.7%+$11.1K
ALPHABET INC	GOOGL	$1.7M	4,803	0.14%	-0.01pp	9q	-1.5%-$24.8K
VANGUARD INTL EQUITY INDEX F	VT	$1.6M	9,977	0.14%	+0.02pp	3q	+12.9%+$180.1K
VANGUARD SCOTTSDALE FDS	VGIT	$1.5M	25,941	0.13%	-0.01pp	5q	HELD
NORTHERN LTS FD TR IV	IBD	$1.4M	60,831	0.12%	flat	2q	+8.2%+$106.5K
PROSHARES TR	UPRO	$1.3M	9,045	0.12%	+0.03pp	2q	+28.0%+$290.7K
ZACKS TRUST	ZECP	$1.3M	34,951	0.11%	-0.09pp	8q	-43.8%-$1.0M
DIMENSIONAL ETF TRUST	DXIV	$1.3M	17,785	0.11%	+0.03pp	3q	+37.9%+$352.3K
MERCANTILE BK CORP	MBWM	$1.2M	19,826	0.10%	flat	3q	HELD
DIREXION SHARES ETF TRUST	TNA	$1.1M	18,946	0.09%	flat	2q	+34.8%+$282.2K
ALPHABET INC	GOOG	$1.1M	3,175	0.09%	flat	9q	HELD
VISA INC	V	$965.3K	2,686	0.08%	flat	9q	-3.7%-$37.0K
NEOS ETF TRUST	SPYI	$955.9K	17,978	0.08%	+0.01pp	5q	+9.2%+$80.8K
INVESCO EXCHANGE TRADED FD T	RZV	$955.1K	6,882	0.08%	-0.01pp	5q	-1.3%-$13.0K
ISHARES TR	IWC	$953.1K	5,158	0.08%	-0.01pp	9q	-0.8%-$7.2K
MARATHON PETE CORP	MPC	$908.4K	2,297	0.08%	+0.03pp	3q	+12.3%+$99.3K
ISHARES TR	EFA	$902.4K	8,686	0.08%	flat	10q	-3.0%-$28.1K
DEERE CO	DE	$887.3K	1,321	0.08%	flat	4q	HELD
VANGUARD INDEX FDS	VUG	$882.1K	9,789	0.08%	flat	5q	-0.8%-$7.2K
STATE STR SPDR S&P 500 ETF T	SPY	$868.9K	1,139	0.08%	flat	5q	+0.9%+$7.6K
SELECT SECTOR SPDR TR	XLE	$851.6K	13,848	0.07%	+0.01pp	4q	-3.8%-$33.2K
NORTHERN LTS FD TR IV	FDLS	$847.8K	20,588	0.07%	flat	2q	+1.8%+$14.9K
WISDOMTREE TR	DLS	$830.0K	9,520	0.07%	flat	6q	-1.5%-$12.6K
INVESCO EXCHANGE TRADED FD T	PRF	$829.9K	15,248	0.07%	flat	5q	HELD
STRATEGY SHS	SSXU	$796.6K	22,409	0.07%	flat	7q	+6.8%+$50.8K
ISHARES TR	IDEV	$791.4K	8,844	0.07%	flat	5q	HELD
SIMPLIFY EXCHANGE TRADED FUN	SVOL	$784.4K	47,918	0.07%	+0.01pp	5q	+9.9%+$70.4K
PROSHARES TR	DDM	$783.0K	12,794	0.07%	flat	9q	+14.6%+$99.7K
TIMOTHY PLAN	TPSC	$778.0K	17,403	0.07%	flat	3q	+2.9%+$22.2K
STRATEGY INC	MSTR	$774.5K	5,059	0.07%	+0.04pp	8q	+28.2%+$170.5K
EA SERIES TRUST	BSVO	$773.9K	27,681	0.07%	-0.01pp	5q	-9.3%-$79.6K
NORTHERN LTS FD TR IV	BIBL	$751.8K	13,906	0.07%	flat	2q	+2.0%+$15.0K
STRATEGY SHS	ELCV	$719.0K	23,720	0.06%	flat	3q	+3.3%+$23.3K
PROSHARES TR	ROM	$687.7K	4,320	0.06%	flat	8q	HELD
ISHARES TR	SUB	$685.9K	6,561	0.06%	flat	6q	HELD
TAIWAN SEMICONDUCTOR MANUFAC	TSM	$668.0K	1,464	0.06%	flat	8q	HELD
ELI LILLY & CO	LLY	$660.7K	571	0.06%	flat	5q	+1.2%+$8.1K
TRUST FOR PROFESSIONAL MANAG	CLSE	$648.8K	19,078	0.06%	-	new	NEW
AIM ETF PRODUCTS TRUST ALLIANZIM BUF 15	SPBU	$626.0K	20,491	0.05%	+0.01pp	5q	+19.2%+$101.0K
DBX ETF TR	RVNU	$593.4K	25,469	0.05%	-0.01pp	2q	-4.4%-$27.2K
J P MORGAN EXCHANGE TRADED F	JEPQ	$585.8K	9,562	0.05%	flat	5q	+9.6%+$51.5K
VANGUARD INDEX FDS	VBK	$574.7K	1,701	0.05%	flat	5q	HELD
PUTNAM ETF TRUST	PBDC	$573.8K	21,315	0.05%	flat	5q	+11.1%+$57.3K
VANECK ETF TRUST	BIZD	$573.2K	44,466	0.05%	flat	5q	+9.1%+$47.7K
TESLA INC	TSLA	$564.9K	1,592	0.05%	-0.01pp	9q	+6.4%+$34.1K
MASTERCARD INCORPORATED	MA	$558.6K	1,013	0.05%	flat	9q	-5.0%-$29.2K
ABBVIE INC	ABBV	$551.8K	2,109	0.05%	flat	5q	HELD
UNITED PARCEL SVCS INC	UPS	$536.0K	5,736	0.05%	flat	8q	+7.1%+$35.6K
DIREXION SHARES ETF TRUST	SOXL	$534.5K	3,615	0.05%	-0.19pp	3q	-64.2%-$960.0K
PROSHARES TR	EET	$531.2K	4,915	0.05%	-	new	NEW
FLEXSHARES TR	TLTE	$528.9K	6,958	0.05%	flat	6q	-0.6%-$3.3K
ISHARES TR	EEM	$528.7K	7,916	0.05%	flat	6q	-1.0%-$5.3K
LOWES COS INC	LOW	$523.9K	2,843	0.05%	-0.01pp	9q	HELD
UNITEDHEALTH GROUP INC	UNH	$515.7K	1,405	0.04%	-0.01pp	9q	HELD
NORTHERN LTS FD TR IV	WWJD	$513.5K	13,246	0.04%	flat	2q	+3.4%+$16.7K
VANECK ETF TRUST	CLOI	$499.9K	9,438	0.04%	+0.02pp	2q	+101.6%+$251.9K
J P MORGAN EXCHANGE TRADED F	JPST	$496.1K	9,850	0.04%	-0.01pp	4q	-21.1%-$132.7K
ISHARES TR	MUB	$474.9K	4,697	0.04%	+0.01pp	8q	+24.7%+$94.1K
ISHARES TR	SCZ	$457.0K	5,414	0.04%	flat	6q	+0.6%+$2.9K
DTE ENERGY CO	DTE	$456.9K	3,751	0.04%	-0.01pp	8q	HELD
SCHWAB STRATEGIC TR	SCHH	$454.4K	20,617	0.04%	flat	8q	-2.9%-$13.4K
WELLTOWER INC	WELL	$452.2K	1,964	0.04%	flat	5q	+0.5%+$2.3K
EXXONMOBIL HOLDINGS CORP	XOM	$428.9K	2,636	0.04%	-	new	NEW
BERKSHIRE HATHAWAY INC DEL	BRKB	$428.2K	860	0.04%	flat	3q	-1.9%-$8.5K
NUCOR CORP	NUE	$411.4K	1,760	0.04%	flat	3q	HELD
REALTY INCOME CORP	O	$407.1K	7,498	0.04%	flat	5q	+0.7%+$2.7K
GUGGENHEIM STRATEGIC OPPORTU	GOF	$401.2K	47,148	0.03%	flat	5q	+14.1%+$49.6K
CHUBB LIMITED	CB	$394.5K	1,213	0.03%	flat	9q	HELD
WISDOMTREE TR	DOL	$389.8K	5,246	0.03%	flat	5q	HELD
PROSHARES TR	UDOW	$371.2K	5,895	0.03%	-0.05pp	2q	-54.4%-$442.5K
ALLSTATE CORP	ALL	$365.6K	1,648	0.03%	flat	3q	HELD
SPDR SERIES TRUST	FLRN	$364.3K	11,813	0.03%	-	new	NEW
CATERPILLAR INC	CAT	$364.2K	449	0.03%	-0.01pp	4q	HELD
Ventas Inc	VTR	$363.1K	4,271	0.03%	flat	3q	HELD
INVESCO ACTIVELY MANAGED EXC	GSY	$362.1K	7,252	0.03%	-	new	NEW
DIMENSIONAL ETF TRUST	DFAT	$361.1K	5,434	0.03%	flat	5q	-0.5%-$2.0K
BROADCOM INC	AVGO	$354.4K	1,009	0.03%	flat	4q	-1.0%-$3.5K
META PLATFORMS INC	META	$353.2K	487	0.03%	+0.01pp	4q	HELD
MORGAN STANLEY	MS	$352.4K	1,874	0.03%	flat	3q	HELD
GLOBAL X FDS	AIQ	$347.0K	5,326	0.03%	flat	4q	HELD
ETF SER SOLUTIONS	QTUM	$345.6K	2,279	0.03%	-0.01pp	4q	-12.9%-$51.3K
NORTHERN LTS FD TR IV	SECT	$336.0K	4,697	0.03%	flat	9q	+7.4%+$23.0K
SELECT SECTOR SPDR TR	XLU	$335.5K	8,507	0.03%	-0.01pp	6q	-16.7%-$67.2K
WISDOMTREE TR	DEM	$334.8K	6,053	0.03%	flat	5q	-1.2%-$4.1K
VANECK ETF TRUST	SMH	$333.1K	547	0.03%	flat	3q	+0.7%+$2.4K
INTEL CORP	INTC	$331.6K	2,758	0.03%	+0.01pp	2q	+42.5%+$98.9K
ONEOK INC NEW	OKE	$329.1K	3,859	0.03%	-	new	NEW
CINTAS CORP	CTAS	$327.1K	1,677	0.03%	flat	5q	HELD
WELLS FARGO & CO	WFC	$324.0K	4,048	0.03%	flat	4q	HELD
WISDOMTREE TR	WTMF	$317.2K	7,518	0.03%	flat	6q	-2.4%-$7.8K
VANGUARD WHITEHALL FDS	VYMI	$313.8K	3,103	0.03%	flat	5q	+7.5%+$21.8K
INVESTMENT MANAGERS SER TR I	NXTE	$313.0K	6,449	0.03%	-	new	NEW
INVESCO EXCHANGE TRADED FD T	XSMO	$306.7K	3,760	0.03%	flat	4q	HELD
CISCO SYS INC	CSCO	$294.2K	2,733	0.03%	flat	2q	HELD
HOME DEPOT INC	HD	$290.6K	1,022	0.03%	-0.01pp	5q	HELD
JOHNSON & JOHNSON	JNJ	$287.0K	1,084	0.02%	flat	4q	+2.8%+$7.9K
AMPLIFY ETF TR	DIVO	$283.9K	6,107	0.02%	flat	5q	+6.4%+$17.0K
SELECT SECTOR SPDR TR	XLK	$279.2K	1,426	0.02%	flat	2q	-4.5%-$13.1K
RTX CORPORATION	RTX	$278.5K	1,500	0.02%	flat	4q	+1.0%+$2.8K
CHEVRON CORPORATION	CVX	$275.9K	1,351	0.02%	flat	4q	+0.7%+$2.0K
ENTERPRISE PRODS PARTNERS L	EPD	$275.2K	7,728	0.02%	-	new	NEW
PROLOGIS INC.	PLD	$274.1K	2,111	0.02%	flat	5q	HELD
ADVANCED MICRO DEVICES INC	AMD	$273.0K	446	0.02%	+0.01pp	2q	+28.5%+$60.6K
FASTENAL CO	FAST	$271.5K	5,482	0.02%	flat	3q	HELD
BARCLAYS BANK PLC	ATMP	$269.7K	7,903	0.02%	flat	5q	HELD
TKO GROUP HOLDINGS INC	TKO	$265.8K	1,479	0.02%	flat	5q	HELD
SUN CMNTYS INC	SUI	$257.9K	2,328	0.02%	flat	5q	-11.1%-$32.1K
EATON VANCE ENHANCED EQUITY	EOS	$257.7K	12,099	0.02%	flat	2q	+10.3%+$24.1K
COMCAST CORP NEW	CMCSA	$253.9K	11,668	0.02%	-	new	NEW
DANAHER CORP DEL	DHR	$252.8K	1,141	0.02%	flat	9q	HELD
WALMART INC	WMT	$247.5K	2,382	0.02%	flat	3q	-9.5%-$26.1K
SELECT SECTOR SPDR TR	XLI	$236.6K	1,417	0.02%	flat	4q	-5.0%-$12.4K
DIMENSIONAL ETF TRUST	DFAU	$235.0K	4,488	0.02%	-	new	NEW
CARPENTER TECHNOLOGY CORP	CRS	$233.7K	601	0.02%	-0.01pp	3q	HELD
MICRON TECHNOLOGY INC	MU	$233.3K	219	0.02%	flat	2q	HELD
ISHARES TR	IWD	$231.6K	934	0.02%	flat	2q	+6.9%+$14.9K
PROCTER & GAMBLE CO	PG	$228.5K	1,573	0.02%	flat	4q	-1.1%-$2.5K
ISHARES TR	IUSV	$227.0K	2,058	0.02%	flat	4q	+2.9%+$6.4K
DUKE ENERGY CORP NEW	DUK	$226.2K	1,984	0.02%	flat	5q	-0.7%-$1.6K
QUALCOMM INC	QCOM	$221.2K	1,202	0.02%	flat	2q	+1.3%+$2.8K
ISHARES GOLD TRUST MICRO	IAUM	$214.1K	5,168	0.02%	flat	4q	HELD
DT MIDSTREAM INC	DTM	$212.9K	1,782	0.02%	flat	3q	HELD
ACCENTURE PLC IRELAND	ACN	$212.0K	1,156	0.02%	-	new	NEW
INTERNATIONAL BUSINESS MACHS	IBM	$211.1K	960	0.02%	-0.01pp	5q	-1.1%-$2.4K
TRAVELERS COMPANIES INC	TRV	$206.8K	580	0.02%	-	new	NEW
NEXTERA ENERGY INC	NEE	$203.4K	2,686	0.02%	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
Capital Markets	$21.5M	1.9%
Other sectors	$50.5M	4.4%
Not classified	$1.1B	93.7%

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%	-3.1%	100%
Q2 2026	+9.6%	+14.8%	-5.3%	100%
Q1 2026	-0.8%	-4.6%	+3.8%	100%
Q4 2025	+2.2%	+2.4%	-0.2%	100%
Q3 2025	+6.2%	+7.8%	-1.7%	100%
Q2 2025	+6.6%	+10.5%	-3.8%	100%
Q1 2025	-1.9%	-4.6%	+2.6%	100%
Q4 2024	-2.1%	+2.1%	-4.2%	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	$1.2B	196	14	77	54	15	46.2%	14
Q2 2026	$1.1B	197	20	94	51	15	46.4%	21
Q1 2026	$949.9M	192	31	99	34	7	46.0%	17
Q4 2025	$539.5M	168	22	101	33	9	48.5%	26
Q3 2025	$379.2M	155	64	71	12	1	52.2%	21
Q2 2025	$261.1M	92	21	42	14	2	65.8%	7
Q1 2025	$209.5M	73	3	13	34	6	71.2%	29
Q4 2024	$215.9M	76	16	35	14	8	69.8%	57
Q3 2024	$189.4M	68	42	22	3	2	73.4%	50
Q2 2024	$126.7M	28	9	18	1	1	91.6%	38
Q1 2024	$107.9M	20	0	10	10	6	95.0%	33
Q4 2023	$100.1M	26	0	0	0	0	89.3%	40

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.