DaveManuel.com · Institutional Ownership · 13F Holdings
Sage Capital Management, LLC
Reported holdings as of Q3 2026, from 12 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| NVIDIA CORPORATION | NVDA | $17.2M | 75,510 | +0.39pp | 12q | -4.2%-$752.9K | |
| SELECT SECTOR SPDR TR | XLK | $13.1M | 67,095 | +0.01pp | 12q | HELD | |
| INVESCO QQQ TR | QQQ | $11.4M | 15,402 | -0.03pp | 12q | +1.6%+$181.6K | |
| GLOBAL X FDS | PAVE | $11.2M | 213,580 | -0.64pp | 12q | HELD | |
| STATE STR SPDR S&P 500 ETF T | SPY | $9.1M | 11,905 | -0.01pp | 12q | HELD | |
| EA SERIES TRUST | STXF | $7.8M | 158,334 | +0.03pp | 12q | +1.9%+$142.4K | |
| AMPLIFY ETF TR | HACK | $7.1M | 58,815 | +0.15pp | 11q | -5.8%-$436.6K | |
| INVESCO EXCHANGE TRADED FD T | PHO | $6.5M | 96,522 | -0.12pp | 12q | HELD | |
| SELECT SECTOR SPDR TR | XLP | $5.8M | 71,709 | -0.02pp | 12q | +5.1%+$282.6K | |
| INVESCO EXCHANGE TRADED FD T | RSP | $5.7M | 27,221 | -0.08pp | 12q | +1.3%+$74.9K | |
| SPDR SERIES TRUST | CWB | $5.1M | 50,393 | -0.18pp | 12q | HELD | |
| SPACE EXPLORATION TECHN CORP | SPCX | $5.1M | 33,502 | - | new | NEW | |
| ETF SER SOLUTIONS | QTUM | $4.8M | 31,621 | -0.24pp | 6q | -0.9%-$41.4K | |
| ADVANCED MICRO DEVICES INC | AMD | $4.5M | 7,408 | +0.14pp | 6q | +6.1%+$261.8K | |
| WISDOMTREE TR | DON | $4.3M | 80,180 | -0.12pp | 12q | HELD | |
| CROWDSTRIKE HLDGS INC | CRWD | $4.1M | 15,345 | +0.42pp | 10q | +2.0%+$78.7K | |
| SPDR SERIES TRUST | XITK | $3.9M | 19,651 | -0.03pp | 12q | -0.6%-$24.9K | |
| DBX ETF TR | DBEF | $3.9M | 71,073 | -0.02pp | 12q | +1.0%+$38.3K | |
| GLOBAL X FDS | BOTZ | $3.8M | 107,463 | -0.13pp | 12q | +1.3%+$50.4K | |
| FIRST TR EXCHANGE TRADED FD | CIBR | $3.5M | 34,124 | +0.14pp | 12q | HELD | |
| SPDR SERIES TRUST | SDY | $3.5M | 23,853 | -0.08pp | 12q | +0.8%+$28.6K | |
| SPDR SERIES TRUST | XBI | $3.5M | 21,992 | -0.04pp | 12q | HELD | |
| AMAZON COM INC | AMZN | $3.5M | 13,845 | +0.02pp | 12q | HELD | |
| APPLE INC | AAPL | $3.4M | 10,057 | +0.14pp | 12q | HELD | |
| NUVEEN S&P 500 DYNAMIC OVERW | SPXX | $3.0M | 161,308 | -0.08pp | 3q | -3.2%-$97.4K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $2.9M | 13,373 | -0.35pp | 12q | HELD | |
| PIMCO ETF TR | MINT | $2.8M | 27,384 | -0.14pp | 12q | -8.8%-$267.3K | |
| J P MORGAN EXCHANGE TRADED F | JEPI | $2.7M | 47,815 | flat | 12q | +3.1%+$82.1K | |
| MICROSOFT CORP | MSFT | $2.6M | 5,125 | +0.25pp | 12q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | GRID | $2.6M | 14,519 | -0.11pp | 12q | HELD | |
| ISHARES TR | IBB | $2.5M | 11,913 | +0.14pp | 2q | +9.1%+$208.5K | |
| FIRST TR EXCHANGE TRADED FD | SKYY | $2.4M | 14,679 | +0.14pp | 12q | HELD | |
| STATE STR SPDR DOW JONES IND | DIA | $2.4M | 4,691 | -0.05pp | 12q | HELD | |
| ALPHABET INC | GOOG | $2.3M | 6,703 | -0.04pp | 2q | +2.2%+$49.4K | |
| TESLA INC | TSLA | $2.3M | 6,373 | -0.19pp | 12q | HELD | |
| PROSHARES TR | TQQQ | $2.2M | 27,866 | -0.10pp | 12q | -4.3%-$98.3K | |
| ISHARES TR | IWF | $2.1M | 16,975 | -0.03pp | 12q | -2.2%-$48.2K | |
| MONSTER BEVERAGE CORP NEW | MNST | $2.1M | 49,877 | - | new | NEW | |
| WISDOMTREE TR | HEDJ | $2.0M | 36,829 | -0.05pp | 12q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $2.0M | 3,921 | -0.02pp | 12q | HELD | |
| ALPS ETF TR | SDOG | $1.9M | 28,530 | -0.02pp | 12q | +0.5%+$10.2K | |
| FIRST TR EXCHANGE-TRADED FD | FDN | $1.9M | 6,742 | +0.04pp | 12q | HELD | |
| LAMAR ADVERTISING CO | LAMR | $1.9M | 13,059 | -0.07pp | 12q | +0.7%+$13.3K | |
| INVESCO EXCHANGE TRADED FD T | PBJ | $1.7M | 38,727 | -0.05pp | 12q | HELD | |
| GLOBAL X FDS | DTCR | $1.7M | 63,085 | -0.35pp | 5q | -25.0%-$570.1K | |
| SELECT SECTOR SPDR TR | XLV | $1.6M | 9,326 | +0.17pp | 12q | +36.0%+$416.3K | |
| DIREXION SHARES ETF TRUST | TECL | $1.6M | 6,710 | -0.01pp | 12q | HELD | |
| ABRDN HEALTHCARE INVESTORS | HQH | $1.6M | 74,637 | -0.04pp | 12q | +1.1%+$17.3K | |
| SPDR SERIES TRUST | SPYD | $1.5M | 34,059 | -0.04pp | 3q | +1.1%+$17.5K | |
| ISHARES TR | IJH | $1.5M | 20,360 | -0.05pp | 12q | HELD | |
| INVESCO EXCHANGE TRADED FD T | SPHQ | $1.4M | 17,077 | -0.06pp | 12q | HELD | |
| ISHARES TR | IVV | $1.3M | 1,705 | flat | 12q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | FIW | $1.3M | 12,051 | -0.01pp | 12q | +6.1%+$71.6K | |
| ISHARES TR | EWU | $1.2M | 26,351 | -0.01pp | 12q | HELD | |
| EXXONMOBIL HOLDINGS CORP | XOM | $1.2M | 7,342 | - | new | NEW | |
| SELECT SECTOR SPDR TR | XLB | $1.1M | 22,261 | -0.03pp | 12q | HELD | |
| SELECT SECTOR SPDR TR | XLU | $1.1M | 26,971 | -0.07pp | 12q | HELD | |
| VANGUARD MALVERN FDS | VTIP | $1.1M | 21,521 | -0.02pp | 12q | +1.0%+$10.3K | |
| SPDR SERIES TRUST | XHB | $1.0M | 10,817 | -0.09pp | 12q | HELD | |
| COSTCO WHOLESALE CORPORATION | COST | $1.0M | 1,099 | -0.02pp | 12q | HELD | |
| ARM HOLDINGS PLC | ARM | $980.4K | 3,382 | -0.10pp | 10q | HELD | |
| ONEOK INC NEW | OKE | $970.5K | 11,379 | - | new | NEW | |
| PUBLIC STORAGE | PSA | $956.2K | 3,375 | -0.06pp | 12q | HELD | |
| INVESCO EXCH TRADED FD TR II | SPHD | $938.8K | 19,482 | -0.03pp | 12q | +0.8%+$7.6K | |
| ABBVIE INC | ABBV | $915.6K | 3,499 | flat | 12q | HELD | |
| ELI LILLY & CO | LLY | $848.1K | 732 | -0.02pp | 12q | HELD | |
| INVESCO EXCHANGE TRADED FD T | RSPT | $843.0K | 12,796 | +0.02pp | 12q | +7.1%+$56.1K | |
| VANGUARD WORLD FD | VAW | $828.4K | 3,793 | -0.02pp | 12q | HELD | |
| VANGUARD SPECIALIZED FUNDS | VIG | $813.2K | 3,483 | -0.01pp | 12q | HELD | |
| ECOLAB INC | ECL | $782.5K | 2,849 | -0.01pp | 12q | HELD | |
| MARRIOTT INTL INC NEW | MAR | $773.2K | 2,173 | -0.02pp | 12q | HELD | |
| AMERICAN EXPRESS CO | AXP | $707.1K | 2,325 | -0.04pp | 12q | HELD | |
| GLOBAL X FDS | LIT | $684.0K | 9,995 | -0.14pp | 12q | -22.8%-$201.7K | |
| ALPHABET INC | GOOGL | $681.3K | 1,979 | -0.02pp | 12q | HELD | |
| META PLATFORMS INC | META | $650.1K | 895 | +0.05pp | 12q | HELD | |
| ISHARES TR | IWN | $636.2K | 3,033 | -0.02pp | 12q | HELD | |
| ROCKET LAB CORP | RKLB | $614.3K | 8,816 | -0.05pp | 6q | +21.5%+$108.6K | |
| ISHARES TR | IFRA | $607.3K | 11,035 | -0.04pp | 12q | HELD | |
| SELECT SECTOR SPDR TR | XLY | $602.7K | 5,536 | -0.02pp | 12q | HELD | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $600.1K | 1,315 | flat | 9q | +6.7%+$37.4K | |
| AMERICAN TOWER CORP | AMT | $594.8K | 3,629 | -0.01pp | 12q | -3.3%-$20.2K | |
| WALMART INC | WMT | $590.1K | 5,677 | -0.03pp | 12q | HELD | |
| GLOBAL X FDS | URA | $571.5K | 14,335 | -0.03pp | 6q | HELD | |
| PHILLIPS EDISON & CO INC | PECO | $570.7K | 15,282 | -0.03pp | 12q | HELD | |
| ISHARES TR | IYH | $557.3K | 7,788 | +0.01pp | 12q | HELD | |
| ISHARES TR | IEFA | $539.0K | 5,560 | -0.01pp | 3q | HELD | |
| ISHARES TR | IWO | $534.9K | 1,496 | -0.03pp | 12q | HELD | |
| SPDR SERIES TRUST | KRE | $528.4K | 7,607 | -0.02pp | 12q | HELD | |
| VANGUARD SCOTTSDALE FDS | VCIT | $523.9K | 6,685 | -0.01pp | 12q | +0.9%+$4.7K | |
| PROCTER & GAMBLE CO | PG | $508.6K | 3,500 | -0.01pp | 12q | HELD | |
| INVESCO EXCHANGE TRADED FD T | RSPU | $504.5K | 7,194 | -0.03pp | 12q | +0.7%+$3.4K | |
| JOHNSON & JOHNSON | JNJ | $502.2K | 1,895 | flat | 12q | HELD | |
| ISHARES TR | DVY | $497.6K | 3,268 | -0.02pp | 12q | -3.1%-$15.8K | |
| ABRDN TOTAL DYNAMIC DIVIDEND | AOD | $482.6K | 47,500 | flat | 12q | +4.4%+$20.3K | |
| VANGUARD INDEX FDS | VTI | $469.4K | 1,252 | flat | 12q | HELD | |
| ISHARES TR | IJS | $464.0K | 3,619 | -0.02pp | 12q | HELD | |
| GENERAL DYNAMICS CORP | GD | $456.3K | 1,374 | -0.02pp | 9q | HELD | |
| ISHARES TR | INDA | $451.2K | 9,664 | -0.01pp | 12q | HELD | |
| TEXAS INSTRS INC | TXN | $448.1K | 1,600 | -0.02pp | 12q | HELD | |
| HOME DEPOT INC | HD | $446.9K | 1,571 | -0.05pp | 12q | HELD | |
| CORNING INC | GLW | $440.0K | 2,858 | - | new | NEW | |
| ENERGY TRANSFER L P | ET | $436.8K | 22,091 | flat | 12q | HELD | |
| JPMORGAN CHASE & CO | JPM | $432.0K | 1,305 | flat | 12q | HELD | |
| WILLIAMS COS INC | WMB | $422.1K | 6,210 | -0.02pp | 12q | HELD | |
| VANGUARD INDEX FDS | VNQ | $422.0K | 4,701 | -0.02pp | 12q | +0.5%+$2.2K | |
| VANGUARD WHITEHALL FDS | VYM | $420.8K | 2,710 | -0.01pp | 12q | +0.5%+$2.2K | |
| ISHARES TR | IWM | $416.0K | 1,493 | -0.02pp | 12q | HELD | |
| STAG INDUSTRIAL INC | STAG | $415.1K | 11,590 | -0.01pp | 12q | +0.6%+$2.6K | |
| ADVENT CONV & INCOME FD | AVK | $414.9K | 36,200 | -0.03pp | 12q | HELD | |
| ISHARES TR | DSI | $414.5K | 2,835 | flat | 12q | HELD | |
| ISHARES TR | IJR | $414.0K | 3,041 | -0.02pp | 12q | HELD | |
| ISHARES TR | IHI | $411.8K | 8,046 | -0.01pp | 12q | -9.3%-$42.1K | |
| SPDR SERIES TRUST | FLRN | $402.2K | 13,042 | - | new | NEW | |
| CHURCH & DWIGHT CO INC | CHD | $401.5K | 4,261 | -0.01pp | 12q | HELD | |
| SPDR SERIES TRUST | KBE | $401.2K | 6,344 | -0.02pp | 12q | HELD | |
| BANK OF NY MELLON CORP | BNY | $385.1K | 2,662 | flat | 9q | HELD | |
| FIDELITY COVINGTON TRUST | FELG | $373.6K | 8,284 | flat | 11q | HELD | |
| EXCHANGE TRADED CONCEPTS TRU | NUKZ | $359.2K | 5,963 | -0.03pp | 2q | -6.5%-$24.9K | |
| EA SERIES TRUST | DRLL | $354.4K | 8,849 | +0.02pp | 3q | +1.0%+$3.4K | |
| HARRIS OAKMARK ETF TRUST | OAKM | $346.4K | 11,800 | flat | 6q | HELD | |
| ABBOTT LABORATORIES | ABT | $343.7K | 3,477 | +0.01pp | 12q | HELD | |
| TEMA ETF TRUST | NASA | $343.5K | 14,328 | -0.08pp | 2q | -18.3%-$76.9K | |
| SELECT SECTOR SPDR TR | XLI | $322.3K | 1,929 | -0.02pp | 12q | HELD | |
| LTC PPTYS INC | LTC | $320.1K | 7,465 | flat | 12q | -4.5%-$15.1K | |
| CHEVRON CORPORATION | CVX | $316.5K | 1,550 | +0.02pp | 12q | HELD | |
| FIRST TR EXCHANGE-TRADED FD | FAN | $292.1K | 12,879 | -0.01pp | 12q | HELD | |
| SRH TOTAL RETURN FUND INC | STEW | $288.5K | 16,608 | +0.03pp | 2q | +47.4%+$92.7K | |
| VANGUARD BD INDEX FDS | BND | $280.9K | 4,003 | - | new | NEW | |
| CRANE COMPANY | CR | $275.6K | 1,351 | -0.01pp | 9q | HELD | |
| PALANTIR TECHNOLOGIES INC | PLTR | $275.6K | 1,472 | - | new | NEW | |
| FIRST TR EXCHANGE-TRADED FD | QCLN | $270.0K | 5,592 | - | new | NEW | |
| UNUM GROUP | UNM | $266.8K | 3,040 | flat | 8q | +0.5%+$1.4K | |
| GLOBAL X FDS | ZAP | $265.2K | 8,710 | -0.01pp | 5q | +6.1%+$15.2K | |
| RBB FUND TRUST | COPY | $265.0K | 17,300 | +0.02pp | 2q | +16.9%+$38.3K | |
| TARGA RES CORP | TRGP | $261.9K | 969 | flat | 3q | HELD | |
| SELECT SECTOR SPDR TR | XLE | $258.6K | 4,203 | +0.01pp | 3q | HELD | |
| PROSHARES TR | SSO | $255.1K | 3,678 | flat | 2q | -0.5%-$1.3K | |
| WESTERN MIDSTREAM PARTNERS L | WES | $253.5K | 5,713 | flat | 12q | HELD | |
| NORFOLK SOUTHN CORP | NSC | $247.2K | 800 | flat | 9q | HELD | |
| VERTEX PHARMACEUTICALS INC | VRTX | $246.8K | 472 | flat | 4q | HELD | |
| MARVELL TECHNOLOGY INC | MRVL | $245.1K | 925 | - | new | NEW | |
| AT&T INC | T | $243.1K | 9,960 | +0.01pp | 9q | +1.0%+$2.4K | |
| PHILLIPS 66 | PSX | $240.4K | 941 | - | new | NEW | |
| GLOBAL X FDS | QYLD | $236.4K | 12,741 | flat | 12q | +1.1%+$2.7K | |
| GABELLI CONV & INC SECS FD I | GCV | $236.0K | 57,000 | -0.01pp | 6q | HELD | |
| NUVEEN VRIABL RAT PFD & INM | NPFD | $233.7K | 13,500 | -0.01pp | 7q | HELD | |
| SELECT SECTOR SPDR TR | XLF | $229.2K | 4,293 | flat | 9q | HELD | |
| CONOCOPHILLIPS | COP | $229.0K | 1,829 | - | new | NEW | |
| GILEAD SCIENCES INC | GILD | $228.0K | 1,528 | - | new | NEW | |
| J P MORGAN EXCHANGE TRADED F | JPST | $222.8K | 4,421 | - | new | NEW | |
| VERIZON COMMUNICATIONS INC | VZ | $220.2K | 4,798 | +0.01pp | 4q | +0.9%+$2.0K | |
| INVESCO EXCHANGE TRADED FD T | RSPS | $219.5K | 7,648 | -0.01pp | 12q | HELD | |
| MCDONALDS CORP | MCD | $212.1K | 918 | -0.02pp | 12q | HELD | |
| PEPSICO INC | PEP | $202.8K | 1,600 | -0.01pp | 12q | HELD | |
| ISHARES TR | TIP | $202.5K | 1,945 | flat | 3q | +1.7%+$3.3K | |
| EATON VANCE TAX-MANAGED GLOB | EXG | $182.8K | 19,431 | -0.04pp | 12q | -29.2%-$75.3K | |
| GABELLI MULTIMEDIA | GGT | $175.1K | 44,000 | -0.01pp | 4q | HELD | |
| COHEN & STEERS QUALITY INCOM | RQI | $170.5K | 15,643 | -0.01pp | 12q | +2.3%+$3.8K | |
| AGNC INVT CORP | AGNC | $131.5K | 14,500 | -0.01pp | 5q | HELD | |
| NUVEEN NY AMT FREE | NRK | $110.9K | 12,000 | flat | 4q | +20.0%+$18.5K | |
| ORAMED PHARMACEUTICALS INC | ORMP | $84.0K | 17,977 | flat | 11q | HELD | |
| NUVEEN PFD & INCOME OPPORTUN | JPC | $81.8K | 12,000 | -0.04pp | 9q | -46.7%-$71.6K | |
| PIONEER PWR SOLUTIONS INC | PPSI | $81.1K | 24,000 | flat | 5q | +14.3%+$10.1K | |
| VOYA GLBL EQTY DIV & PREM OP | IGD | $77.2K | 12,500 | flat | 12q | HELD | |
| ALLSPRING GLOBAL DIVIDEND OP | EOD | $76.8K | 12,000 | flat | 12q | HELD | |
| NN INC | NNBR | $58.7K | 16,000 | - | new | NEW | |
| NEOVOLTA INC | NEOV | $33.2K | 12,755 | - | 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 |
|---|---|---|
| Semiconductors & Electronics | $24.2M | 9.2% |
| Funds & ETFs | $18.5M | 7.0% |
| Software & IT Services | $15.6M | 5.9% |
| Computer Hardware | $6.3M | 2.4% |
| Retail & Consumer | $5.7M | 2.2% |
| Real Estate | $4.9M | 1.9% |
| Energy | $4.3M | 1.6% |
| Other sectors | $16.5M | 6.3% |
| Not classified | $167.2M | 63.5% |
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 | -0.2% | +2.1% | -2.3% | 100% |
| Q2 2026 | +17.0% | +14.8% | +2.2% | 100% |
| Q1 2026 | -2.3% | -4.6% | +2.3% | 98% |
| Q4 2025 | +0.3% | +2.4% | -2.0% | 100% |
| Q3 2025 | +6.1% | +7.8% | -1.7% | 100% |
| Q2 2025 | +10.0% | +10.5% | -0.5% | 100% |
| Q1 2025 | -4.1% | -4.6% | +0.5% | 100% |
| Q4 2024 | -0.6% | +2.1% | -2.7% | 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 | $263.3M | 167 | 16 | 41 | 19 | 16 | 36.1% | 20 |
| Q2 2026 | $256.2M | 167 | 15 | 43 | 28 | 11 | 36.4% | 20 |
| Q1 2026 | $212.8M | 163 | 11 | 30 | 32 | 9 | 36.3% | 15 |
| Q4 2025 | $216.4M | 161 | 8 | 34 | 51 | 4 | 37.0% | 15 |
| Q3 2025 | $222.2M | 157 | 7 | 44 | 22 | 7 | 36.3% | 28 |
| Q2 2025 | $207.8M | 157 | 9 | 39 | 38 | 4 | 35.9% | 36 |
| Q1 2025 | $184.2M | 152 | 2 | 41 | 34 | 7 | 34.3% | 45 |
| Q4 2024 | $197.9M | 157 | 2 | 34 | 63 | 8 | 35.3% | 43 |
| Q3 2024 | $208.4M | 163 | 18 | 40 | 25 | 9 | 34.0% | 30 |
| Q2 2024 | $190.3M | 154 | 6 | 42 | 13 | 4 | 34.6% | 29 |
| Q1 2024 | $184.3M | 152 | 7 | 51 | 19 | 2 | 33.4% | 122 |
| Q4 2023 | $167.1M | 147 | 0 | 0 | 0 | 0 | 33.6% | 213 |
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.