DaveManuel.com · Institutional Ownership · 13F Holdings
L. Roy Papp & Associates, LLP
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| APPLE INC | AAPL | $73.8M | 221,599 | +0.65pp | 32q | -2.0%-$1.5M | |
| MICROSOFT CORP | MSFT | $61.7M | 120,287 | +1.56pp | 32q | HELD | |
| ALPHABET INC | GOOG | $51.0M | 149,652 | -0.36pp | 32q | HELD | |
| BLACKROCK INC | BLK | $38.7M | 36,574 | +0.26pp | 8q | HELD | |
| VISA INC | V | $36.9M | 102,758 | +0.04pp | 32q | HELD | |
| THERMO FISHER SCIENTIFIC INC | TMO | $34.8M | 51,612 | +0.84pp | 32q | HELD | |
| ALPHABET INC | GOOGL | $31.9M | 92,741 | -0.29pp | 32q | -1.7%-$555.3K | |
| JOHNSON & JOHNSON | JNJ | $31.1M | 117,553 | +0.01pp | 32q | -0.9%-$289.6K | |
| EXPEDITORS INTL WASH INC | EXPD | $29.3M | 158,531 | +0.25pp | 32q | -0.7%-$213.1K | |
| O'REILLY AUTOMOTIVE INC | ORLY | $28.4M | 332,796 | -0.32pp | 32q | HELD | |
| MARVELL TECHNOLOGY INC | MRVL | $28.3M | 107,121 | -0.61pp | 22q | -4.1%-$1.2M | |
| EOG RES INC | EOG | $24.7M | 178,991 | +0.07pp | 32q | HELD | |
| COSTCO WHOLESALE CORPORATION | COST | $21.6M | 23,692 | -0.14pp | 32q | HELD | |
| SPDR SERIES TRUST | XBI | $21.1M | 133,822 | -0.08pp | 32q | HELD | |
| STRYKER CORPORATION | SYK | $18.8M | 68,283 | -0.35pp | 32q | HELD | |
| HOME DEPOT INC | HD | $17.7M | 62,330 | -0.51pp | 32q | HELD | |
| ACCENTURE PLC IRELAND | ACN | $17.5M | 95,203 | +0.37pp | 32q | -11.8%-$2.3M | |
| CANADIAN NATL RY CO | CNI | $15.8M | 132,844 | -0.06pp | 32q | -0.6%-$91.6K | |
| METTLER TOLEDO INTERNATIONAL | MTD | $15.6M | 10,317 | +0.19pp | 32q | -0.6%-$99.7K | |
| JPMORGAN CHASE & CO | JPM | $15.0M | 45,261 | +0.14pp | 32q | +12.6%+$1.7M | |
| ANALOG DEVICES INC | ADI | $14.9M | 37,636 | -0.05pp | 32q | HELD | |
| INVESCO EXCHANGE TRADED FD T | RSP | $14.8M | 71,201 | -0.12pp | 32q | -2.2%-$339.1K | |
| MASTERCARD INCORPORATED | MA | $14.0M | 25,310 | +0.06pp | 32q | HELD | |
| EXXONMOBIL HOLDINGS CORP | XOM | $13.7M | 84,091 | - | new | NEW | |
| AMETEK INC | AME | $11.8M | 47,803 | flat | 32q | +0.9%+$103.8K | |
| SELECT SECTOR SPDR TR | XLK | $10.0M | 51,231 | -0.08pp | 32q | -7.1%-$769.5K | |
| SCHWAB STRATEGIC TR | SCHO | $10.0M | 420,054 | -0.16pp | 30q | -10.1%-$1.1M | |
| ROCKWELL AUTOMATION INC | ROK | $10.0M | 22,861 | -0.18pp | 32q | HELD | |
| ECOLAB INC | ECL | $9.9M | 36,087 | -0.04pp | 32q | HELD | |
| PROCTER & GAMBLE CO | PG | $9.8M | 67,300 | -0.04pp | 32q | HELD | |
| NVIDIA CORPORATION | NVDA | $8.8M | 38,527 | +0.08pp | 11q | HELD | |
| EMERSON ELEC CO | EMR | $8.3M | 53,506 | +0.03pp | 32q | -1.7%-$145.3K | |
| ISHARES TR | USMV | $8.1M | 82,901 | +0.04pp | 32q | +7.2%+$545.8K | |
| LINDE PLC | LIN | $7.5M | 15,717 | +0.04pp | 15q | +19.0%+$1.2M | |
| CHEVRON CORPORATION | CVX | $7.3M | 35,944 | +0.11pp | 32q | -2.6%-$194.6K | |
| VALMONT INDS INC | VMI | $6.9M | 14,937 | -0.19pp | 23q | +1.2%+$78.7K | |
| PEPSICO INC | PEP | $6.3M | 50,039 | -0.06pp | 32q | +1.0%+$61.5K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $5.7M | 11,371 | -0.02pp | 32q | HELD | |
| WEYERHAEUSER CO | WY | $5.2M | 272,920 | -0.16pp | 30q | HELD | |
| R B C BEARINGS INC | RBC | $5.0M | 10,072 | -0.16pp | 32q | +1.0%+$51.9K | |
| ISHARES TR | IGSB | $5.0M | 97,128 | -0.11pp | 4q | -13.1%-$750.3K | |
| WASTE MGMT INC DEL | WM | $4.8M | 23,723 | +0.05pp | 32q | +25.1%+$969.4K | |
| NXP SEMICONDUCTORS N V | NXPI | $4.8M | 20,140 | -0.10pp | 32q | HELD | |
| VANGUARD WORLD FD | VGT | $4.4M | 34,992 | +0.01pp | 22q | HELD | |
| TRIMBLE INC | TRMB | $4.4M | 76,723 | +0.04pp | 32q | +0.8%+$36.8K | |
| MCDONALDS CORP | MCD | $4.3M | 18,617 | +0.01pp | 32q | +23.4%+$814.8K | |
| WASTE CONNECTIONS INC | WCN | $4.2M | 27,178 | -0.05pp | 32q | HELD | |
| CATERPILLAR INC | CAT | $4.0M | 4,963 | -0.19pp | 32q | -7.9%-$343.8K | |
| FACTSET RESH SYS INC | FDS | $4.0M | 14,799 | +0.05pp | 32q | -0.7%-$26.2K | |
| SCHWAB STRATEGIC TR | SCHB | $4.0M | 135,511 | -0.02pp | 32q | -2.6%-$104.5K | |
| VANGUARD SPECIALIZED FUNDS | VIG | $3.5M | 15,200 | -0.04pp | 32q | -6.7%-$255.5K | |
| RESMED INC | RMD | $3.3M | 15,092 | flat | 32q | -9.0%-$329.4K | |
| AMAZON COM INC | AMZN | $3.2M | 12,899 | +0.01pp | 32q | HELD | |
| RTX CORPORATION | RTX | $3.1M | 16,902 | flat | 26q | +4.0%+$120.7K | |
| VANGUARD INDEX FDS | VUG | $3.1M | 34,280 | flat | 32q | -1.7%-$54.0K | |
| VANGUARD INDEX FDS | VTI | $2.8M | 7,567 | -0.01pp | 32q | -1.3%-$38.2K | |
| PRICE T ROWE GROUP INC | TROW | $2.8M | 26,581 | -0.05pp | 32q | -3.3%-$95.2K | |
| IDEX CORP | IEX | $2.8M | 12,075 | -0.01pp | 32q | HELD | |
| AMGEN INC | AMGN | $2.6M | 6,103 | +0.02pp | 32q | -5.4%-$145.4K | |
| AUTOMATIC DATA PROCESSING IN | ADP | $2.4M | 9,472 | +0.02pp | 32q | -1.4%-$33.5K | |
| COCA COLA CO | KO | $2.4M | 27,809 | -0.01pp | 32q | -7.5%-$192.8K | |
| YETI HLDGS INC | YETI | $2.2M | 54,295 | -0.05pp | 18q | +2.8%+$61.5K | |
| WW GRAINGER INC | GWW | $2.2M | 1,781 | flat | 32q | +13.1%+$256.6K | |
| PERMIAN RESOURCES CORP | PR | $2.2M | 104,438 | +0.03pp | 10q | +2.5%+$53.2K | |
| ENTERPRISE PRODS PARTNERS L | EPD | $2.2M | 61,858 | -0.01pp | 9q | HELD | |
| ELI LILLY & CO | LLY | $2.2M | 1,889 | -0.01pp | 28q | +2.3%+$48.6K | |
| SHERWIN WILLIAMS CO | SHW | $2.2M | 6,725 | -0.02pp | 32q | HELD | |
| ABBVIE INC | ABBV | $2.0M | 7,694 | flat | 32q | +1.5%+$29.6K | |
| BIO TECHNE CORP | TECH | $2.0M | 27,580 | -0.08pp | 32q | -28.6%-$802.2K | |
| MICROCHIP TECHNOLOGY INC. | MCHP | $2.0M | 25,172 | -0.06pp | 32q | -7.4%-$155.9K | |
| STATE STR CORP | STT | $1.9M | 11,027 | flat | 32q | HELD | |
| SELECT SECTOR SPDR TR | XLE | $1.9M | 31,221 | +0.02pp | 32q | HELD | |
| SYSCO CORP | SYY | $1.9M | 23,975 | -0.02pp | 32q | HELD | |
| INTEL CORP | INTC | $1.9M | 15,456 | -0.03pp | 32q | +3.3%+$60.1K | |
| DYNATRACE INC | DT | $1.9M | 32,046 | +0.04pp | 8q | HELD | |
| INTUIT | INTU | $1.8M | 6,705 | -0.02pp | 31q | -11.9%-$249.0K | |
| ADOBE INC | ADBE | $1.8M | 7,678 | +0.02pp | 32q | HELD | |
| CISCO SYS INC | CSCO | $1.8M | 16,450 | -0.03pp | 32q | -2.6%-$47.9K | |
| CHURCH & DWIGHT CO INC | CHD | $1.8M | 18,658 | -0.01pp | 32q | HELD | |
| SILICON LABORATORIES INC | SLAB | $1.7M | 7,809 | flat | 32q | HELD | |
| VANGUARD MALVERN FDS | VTIP | $1.7M | 34,697 | -0.01pp | 30q | HELD | |
| WALMART INC | WMT | $1.7M | 16,408 | -0.02pp | 32q | -1.1%-$19.7K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $1.6M | 2,146 | flat | 32q | +0.6%+$9.9K | |
| MCCORMICK & CO INC | MKC | $1.5M | 33,322 | -0.02pp | 32q | -1.0%-$16.1K | |
| AMERICAN EXPRESS CO | AXP | $1.5M | 4,779 | -0.02pp | 32q | HELD | |
| COLGATE PALMOLIVE CO | CL | $1.4M | 16,525 | -0.02pp | 32q | -0.5%-$7.5K | |
| PEGASYSTEMS INC | PEGA | $1.3M | 40,095 | +0.01pp | 32q | -0.7%-$9.3K | |
| META PLATFORMS INC | META | $1.3M | 1,759 | +0.03pp | 32q | +2.8%+$34.8K | |
| EASTGROUP PPTYS INC | EGP | $1.3M | 6,378 | -0.01pp | 32q | HELD | |
| MERCK & CO INC | MRK | $1.2M | 8,491 | +0.01pp | 32q | HELD | |
| KINDER MORGAN INC DEL | KMI | $1.2M | 39,093 | -0.01pp | 23q | +0.9%+$10.6K | |
| SYNOPSYS INC | SNPS | $1.1M | 2,586 | -0.01pp | 5q | HELD | |
| ULTRAGENYX PHARMACEUTICAL IN | RARE | $1.1M | 70,700 | - | new | NEW | |
| ISHARES SILVER TR | SLV | $1.0M | 19,000 | flat | 30q | HELD | |
| INTERNATIONAL BUSINESS MACHS | IBM | $994.3K | 4,521 | -0.03pp | 32q | HELD | |
| VANGUARD INDEX FDS | VO | $972.0K | 12,394 | flat | 26q | +4.9%+$45.0K | |
| ISHARES TR | STIP | $937.2K | 9,400 | -0.01pp | 2q | HELD | |
| ROSS STORES INC | ROST | $933.6K | 4,000 | +0.01pp | 32q | HELD | |
| SCHWAB STRATEGIC TR | SCHX | $852.5K | 28,416 | +0.01pp | 32q | +10.3%+$79.7K | |
| VANGUARD SCOTTSDALE FDS | VCSH | $846.7K | 10,960 | flat | 30q | HELD | |
| TESLA INC | TSLA | $822.8K | 2,319 | -0.02pp | 30q | -4.1%-$35.5K | |
| ISHARES TR | IVV | $814.9K | 1,064 | flat | 31q | +1.4%+$11.5K | |
| WABTEC | WAB | $811.1K | 2,824 | -0.01pp | 32q | -13.3%-$124.9K | |
| COSTAR GROUP INC | CSGP | $811.0K | 29,598 | -0.01pp | 32q | -1.3%-$10.7K | |
| NIKE INC | NKE | $808.3K | 22,834 | -0.02pp | 32q | -1.0%-$8.5K | |
| SPDR INDEX SHS FDS | GMF | $804.2K | 5,150 | flat | 32q | HELD | |
| VALVOLINE INC | VVV | $788.3K | 26,154 | -0.03pp | 13q | HELD | |
| SPDR GOLD TR | GLD | $782.6K | 2,055 | flat | 30q | HELD | |
| ISHARES TR | SUB | $768.4K | 7,350 | flat | 17q | HELD | |
| ORACLE CORP | ORCL | $749.7K | 5,460 | -0.01pp | 32q | HELD | |
| NORFOLK SOUTHN CORP | NSC | $734.8K | 2,378 | flat | 32q | HELD | |
| ABBOTT LABORATORIES | ABT | $716.2K | 7,247 | flat | 32q | HELD | |
| ISHARES TR | IWP | $701.6K | 5,096 | -0.01pp | 31q | HELD | |
| SCHWAB STRATEGIC TR | SCHG | $695.7K | 19,362 | flat | 32q | -3.2%-$23.4K | |
| CLOROX CO DEL | CLX | $681.8K | 8,416 | -0.02pp | 32q | -3.4%-$24.3K | |
| INVESCO QQQ TR | QQQ | $679.1K | 918 | flat | 10q | HELD | |
| VANGUARD INDEX FDS | VTV | $671.1K | 3,106 | +0.01pp | 19q | +21.7%+$119.7K | |
| IQVIA HLDGS INC | IQV | $651.4K | 2,423 | +0.01pp | 25q | -4.5%-$30.9K | |
| GE AEROSPACE | GE | $616.1K | 1,973 | -0.01pp | 12q | +7.3%+$41.8K | |
| ARISTA NETWORKS INC | ANET | $612.8K | 3,010 | +0.01pp | 8q | HELD | |
| APPLIED MATLS INC | AMAT | $600.9K | 1,175 | -0.03pp | 14q | -6.4%-$40.9K | |
| FIRST SOLAR INC | FSLR | $596.4K | 3,405 | -0.02pp | 10q | +7.0%+$39.1K | |
| VANGUARD INTL EQUITY INDEX F | VT | $594.8K | 3,768 | flat | 31q | HELD | |
| ISHARES TR | MTUM | $585.5K | 1,845 | -0.01pp | 18q | HELD | |
| WELLS FARGO & CO | WFC | $585.2K | 7,310 | flat | 22q | HELD | |
| DIAMONDBACK ENERGY INC | FANG | $583.4K | 3,174 | flat | 12q | HELD | |
| KROGER CO | KR | $575.4K | 9,815 | flat | 30q | HELD | |
| MEDTRONIC PLC | MDT | $559.7K | 6,486 | flat | 32q | HELD | |
| VANGUARD INDEX FDS | VXF | $552.7K | 2,386 | -0.01pp | 19q | -5.0%-$29.0K | |
| ISHARES TR | QUAL | $546.9K | 2,461 | flat | 15q | HELD | |
| GE VERNOVA INC | GEV | $542.7K | 571 | -0.01pp | 6q | +3.4%+$18.1K | |
| CSX CORP | CSX | $530.2K | 11,400 | flat | 16q | HELD | |
| AGILYSYS INC | AGYS | $528.6K | 5,445 | -0.01pp | 2q | HELD | |
| BRISTOL-MYERS SQUIBB CO | BMY | $522.0K | 8,366 | flat | 29q | +1.4%+$7.1K | |
| UMB FINL CORP | UMBF | $507.0K | 3,900 | -0.01pp | 32q | HELD | |
| VANGUARD MUN BD FDS | VSDM | $485.0K | 6,520 | flat | 3q | HELD | |
| FIRST TR EXCHANGE-TRADED ALP | FAD | $470.6K | 2,596 | -0.01pp | 18q | HELD | |
| J P MORGAN EXCHANGE TRADED F | JFLX | $452.3K | 9,259 | flat | 4q | HELD | |
| VANGUARD WHITEHALL FDS | VYM | $451.4K | 2,908 | flat | 31q | HELD | |
| WD-40 CO | WDFC | $450.4K | 2,230 | -0.01pp | 2q | HELD | |
| PFIZER INC | PFE | $431.4K | 15,127 | +0.01pp | 32q | +15.7%+$58.4K | |
| NEXTERA ENERGY INC | NEE | $428.7K | 5,660 | -0.01pp | 5q | +3.7%+$15.4K | |
| DISNEY WALT CO | DIS | $418.5K | 3,989 | flat | 32q | -4.0%-$17.3K | |
| ISHARES TR | IWM | $411.3K | 1,480 | flat | 5q | HELD | |
| NORTHROP GRUMMAN CORP | NOC | $408.8K | 846 | flat | 5q | HELD | |
| FIRST TR EXCHANGE TRADED FD | FXL | $407.3K | 1,843 | flat | 14q | HELD | |
| DEVON ENERGY CORP NEW | DVN | $399.6K | 8,679 | flat | 12q | HELD | |
| ADVANCED MICRO DEVICES INC | AMD | $390.9K | 639 | flat | 2q | +4.9%+$18.4K | |
| VANGUARD MUN BD FDS | VTEB | $388.4K | 8,200 | -0.01pp | 4q | -5.4%-$22.2K | |
| VANGUARD INDEX FDS | VOO | $381.6K | 544 | flat | 10q | HELD | |
| PHILLIPS 66 | PSX | $358.7K | 1,405 | +0.01pp | 3q | +1.9%+$6.6K | |
| VANGUARD INDEX FDS | VB | $357.8K | 1,258 | flat | 19q | HELD | |
| VANECK ETF TRUST | SMH | $353.8K | 581 | -0.01pp | 4q | -3.2%-$11.6K | |
| HONEYWELL INTL INC | HON | $347.8K | 1,649 | flat | 2q | HELD | |
| ISHARES INC | EWJ | $346.5K | 3,555 | flat | 15q | HELD | |
| UNION PAC CORP | UNP | $343.4K | 1,262 | flat | 32q | HELD | |
| SPDR SERIES TRUST | SHM | $330.3K | 7,080 | flat | 4q | HELD | |
| VANGUARD STAR FDS | VXUS | $329.8K | 3,882 | flat | 12q | HELD | |
| FIRST TR EXCHANGE TRADED FD | SKYY | $328.6K | 2,004 | +0.01pp | 9q | HELD | |
| ISHARES TR | IEV | $320.1K | 4,500 | flat | 16q | HELD | |
| VANGUARD INDEX FDS | VOT | $314.6K | 1,077 | flat | 32q | HELD | |
| DUKE ENERGY CORP NEW | DUK | $312.4K | 2,740 | flat | 12q | HELD | |
| CRH PLC | CRH | $306.4K | 3,700 | +0.01pp | 11q | +60.9%+$115.9K | |
| FIRST TR EXCHANGE-TRADED FD | FTCS | $306.0K | 3,260 | flat | 18q | HELD | |
| GLOBAL X FDS | QYLD | $301.9K | 16,275 | flat | 4q | HELD | |
| IDEXX LABS INC | IDXX | $297.6K | 570 | flat | 15q | HELD | |
| TJX COS INC NEW | TJX | $287.8K | 2,175 | flat | 11q | +3.3%+$9.3K | |
| VANGUARD INDEX FDS | VBR | $287.3K | 1,243 | flat | 12q | HELD | |
| ZEBRA TECHNOLOGIES CORPORATI | ZBRA | $280.7K | 752 | - | new | NEW | |
| AIR PRODUCTS AND CHEMICALS I | APD | $279.9K | 1,006 | flat | 3q | HELD | |
| SCHWAB STRATEGIC TR | SCHD | $279.6K | 8,595 | flat | 32q | HELD | |
| NORTHERN TR CORP | NTRS | $275.0K | 1,624 | flat | 6q | -5.8%-$16.9K | |
| CINCINNATI FINL CORP | CINF | $269.0K | 1,688 | -0.01pp | 9q | HELD | |
| MACOM TECH SOLUTIONS HLDGS I | MTSI | $260.6K | 915 | - | new | NEW | |
| LATTICE SEMICONDUCTOR CORP | LSCC | $260.3K | 2,072 | - | new | NEW | |
| STARBUCKS CORP | SBUX | $259.9K | 2,766 | flat | 32q | +3.1%+$7.7K | |
| HONEYWELL AEROSPACE INC | HONA | $255.4K | 1,648 | -0.01pp | 2q | HELD | |
| CHARLES SCHWAB CORP (THE) | SCHW | $247.3K | 2,530 | flat | 6q | HELD | |
| SPDR SERIES TRUST | XNTK | $243.6K | 637 | flat | 2q | HELD | |
| PALO ALTO NETWORKS INC | PANW | $242.8K | 611 | flat | 2q | HELD | |
| BROADCOM INC | AVGO | $238.8K | 680 | flat | 2q | +12.0%+$25.6K | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $234.9K | 515 | flat | 2q | HELD | |
| LOWES COS INC | LOW | $233.9K | 1,269 | -0.01pp | 26q | HELD | |
| Fabrinet | FN | $233.8K | 551 | - | new | NEW | |
| TARGET CORP | TGT | $227.2K | 1,450 | - | new | NEW | |
| WESTERN MIDSTREAM PARTNERS L | WES | $224.5K | 5,059 | - | new | NEW | |
| Rio Tinto PLC | RIO | $221.8K | 2,355 | flat | 4q | HELD | |
| EATON CORP PLC | ETN | $217.4K | 506 | flat | 2q | +4.1%+$8.6K | |
| TRANE TECHNOLOGIES PLC | TT | $217.0K | 480 | flat | 2q | +17.1%+$31.6K | |
| BANK OF NY MELLON CORP | BNY | $216.9K | 1,500 | flat | 5q | HELD | |
| nan | MELI | $207.4K | 120 | flat | 2q | -17.2%-$43.2K | |
| HCI GROUP INC | HCI | $205.1K | 1,180 | flat | 2q | HELD | |
| ODYSSEY MARINE EXPL INC | OMEX | $103.0K | 152,461 | flat | 7q | 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 | $161.6M | 16.5% |
| Retail & Consumer | $81.6M | 8.3% |
| Computer Hardware | $77.4M | 7.9% |
| Semiconductors & Electronics | $74.6M | 7.6% |
| Business Services | $69.4M | 7.1% |
| Instruments & Controls | $61.2M | 6.2% |
| Biotech & Pharma | $60.4M | 6.2% |
| Energy | $53.6M | 5.5% |
| Transport & Logistics | $46.8M | 4.8% |
| Capital Markets | $43.5M | 4.4% |
| Chemicals | $32.5M | 3.3% |
| Medical Devices | $22.7M | 2.3% |
| Other sectors | $86.5M | 8.8% |
| Not classified | $109.1M | 11.1% |
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 | +3.7% | +2.1% | +1.5% | 100% |
| Q2 2026 | +9.5% | +14.8% | -5.3% | 100% |
| Q1 2026 | -4.0% | -4.6% | +0.6% | 100% |
| Q4 2025 | +2.5% | +2.4% | +0.2% | 100% |
| Q3 2025 | +6.2% | +7.8% | -1.7% | 100% |
| Q2 2025 | +3.3% | +10.5% | -7.1% | 100% |
| Q1 2025 | -3.4% | -4.6% | +1.1% | 100% |
| Q4 2024 | -0.3% | +2.1% | -2.4% | 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 | $981.0M | 193 | 8 | 38 | 47 | 8 | 42.6% | 21 |
| Q2 2026 | $951.4M | 193 | 17 | 39 | 60 | 8 | 40.7% | 23 |
| Q1 2026 | $867.4M | 184 | 6 | 43 | 60 | 7 | 40.3% | 14 |
| Q4 2025 | $904.5M | 185 | 7 | 41 | 59 | 4 | 43.9% | 28 |
| Q3 2025 | $889.6M | 182 | 6 | 45 | 57 | 4 | 43.3% | 9 |
| Q2 2025 | $841.8M | 180 | 7 | 56 | 44 | 1 | 42.1% | 24 |
| Q1 2025 | $815.2M | 174 | 1 | 31 | 73 | 5 | 41.7% | 10 |
| Q4 2024 | $856.6M | 178 | 7 | 22 | 63 | 6 | 42.5% | 29 |
| Q3 2024 | $826.2M | 177 | 9 | 29 | 65 | 4 | 41.6% | 24 |
| Q2 2024 | $825.2M | 172 | 4 | 29 | 69 | 8 | 41.6% | 24 |
| Q1 2024 | $840.1M | 176 | 10 | 34 | 73 | 8 | 40.5% | 15 |
| Q4 2023 | $805.6M | 174 | 13 | 17 | 78 | 4 | 41.3% | 19 |
| Q3 2023 | $738.0M | 165 | 2 | 33 | 47 | 6 | 40.3% | 19 |
| Q2 2023 | $778.2M | 169 | 6 | 34 | 39 | 5 | 40.2% | 17 |
| Q1 2023 | $740.2M | 168 | 5 | 24 | 59 | 3 | 38.7% | 35 |
| Q4 2022 | $712.6M | 166 | 8 | 16 | 65 | 4 | 38.1% | 17 |
| Q3 2022 | $661.3M | 162 | 3 | 41 | 34 | 9 | 38.7% | 21 |
| Q2 2022 | $689.7M | 168 | 8 | 53 | 30 | 12 | 39.0% | 33 |
| Q1 2022 | $801.0M | 172 | 6 | 39 | 62 | 9 | 39.3% | 36 |
| Q4 2021 | $873.6M | 175 | 7 | 30 | 60 | 2 | 39.3% | 42 |
| Q3 2021 | $786.9M | 170 | 4 | 22 | 58 | 6 | 38.5% | 40 |
| Q2 2021 | $792.0M | 172 | 12 | 66 | 28 | 7 | 37.7% | 40 |
| Q1 2021 | $696.8M | 167 | 10 | 16 | 115 | 21 | 37.0% | 36 |
| Q4 2020 | $868.4M | 178 | 13 | 56 | 53 | 2 | 40.8% | 41 |
| Q3 2020 | $778.4M | 167 | 10 | 36 | 64 | 4 | 40.7% | 44 |
| Q2 2020 | $705.6M | 161 | 16 | 28 | 61 | 7 | 39.4% | 42 |
| Q1 2020 | $547.7M | 152 | 1 | 34 | 64 | 25 | 39.2% | 35 |
| Q4 2019 | $694.3M | 176 | 9 | 31 | 58 | 5 | 36.8% | 45 |
| Q3 2019 | $638.0M | 172 | 7 | 27 | 46 | 7 | 35.9% | 35 |
| Q2 2019 | $637.3M | 172 | 29 | 74 | 21 | 6 | 35.5% | 45 |
| Q1 2019 | $555.8M | 149 | 11 | 28 | 56 | 2 | 39.0% | 39 |
| Q4 2018 | $478.3M | 140 | 0 | 0 | 0 | 0 | 38.1% | 44 |
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.