HolderBook

TIEMANN INVESTMENT ADVISORS, LLC

Reported holdings as of Q2 2026, from 31 quarterly filings.

CIK
1575151
Reported value
$276.1M
Positions
207
Top 10 weight
40.2%
Filed
2026-08-07
Days after quarter end
38

Holdings

SecurityTickerValue SharesWeightWeight change Held Change
ISHARES TRAGG$22.0M222,1337.96%-0.25pp31q+5.3%+$1.1M
APPLE INCAAPL$16.4M56,6595.94%+0.05pp31q-4.3%-$739.0K
ISHARES TRIUSB$14.1M306,5235.12%-0.34pp15q+1.6%+$219.4K
ISHARES TRIEFA$12.6M130,9774.58%-0.09pp31qHELD
MICROSOFT CORPMSFT$9.5M25,4103.43%-0.34pp31q-2.2%-$216.4K
J P MORGAN EXCHANGE TRADED FJPST$8.9M175,9373.22%-0.20pp31q+2.1%+$186.1K
GOLDMAN SACHS ETF TRGSST$8.7M171,4653.14%-0.07pp15q+5.8%+$475.2K
NVIDIA CORPORATIONNVDA$7.1M35,7302.59%-0.05pp31q-7.3%-$562.3K
ALPHABET INCGOOGL$6.1M17,0242.20%+0.15pp31q-6.7%-$433.8K
JPMORGAN CHASE & COJPM$5.6M17,1102.03%+0.02pp31q-1.6%-$91.7K
SPDR INDEX SHS FDSCWI$4.4M107,1931.58%+0.02pp31q-1.0%-$45.5K
BERKSHIRE HATHAWAY INC DELBRKB$4.4M8,6971.58%-0.13pp31q-4.0%-$181.6K
ORACLE CORPORCL$4.3M29,5471.57%-0.07pp31q+4.3%+$179.1K
AMAZON COM INCAMZN$3.6M15,1831.31%-0.03pp31q-7.5%-$292.0K
ALPHABET INCGOOG$3.6M10,1311.30%+0.05pp31q-8.8%-$346.3K
ISHARES TRIJS$3.5M25,3961.26%+0.07pp31q-0.8%-$26.7K
ISHARES TRIJR$3.4M22,9731.23%+0.10pp31q-1.1%-$39.0K
ISHARES TRIJJ$2.8M18,9041.01%+0.02pp31qHELD
ISHARES TRIJH$2.7M35,0440.98%+0.04pp31q-0.7%-$18.6K
APPLIED MATLS INCAMAT$2.7M3,7050.97%+0.44pp30q-6.3%-$180.8K
ISHARES TRIJT$2.7M14,9730.97%+0.12pp31qHELD
JOHNSON & JOHNSONJNJ$2.7M10,4510.96%-0.14pp31q-8.9%-$257.8K
ELI LILLY & COLLY$2.6M2,1490.93%+0.13pp31q-3.8%-$102.0K
SPDR GOLD TRGLD$2.5M6,8120.91%-0.25pp31q-0.7%-$18.4K
CATERPILLAR INCCAT$2.5M2,3560.91%+0.17pp31q-11.8%-$334.4K
ABBVIE INCABBV$2.3M9,2270.84%+0.03pp31q-3.5%-$83.0K
J P MORGAN EXCHANGE TRADED FJPEM$2.3M36,9600.84%-0.07pp23q-0.6%-$12.9K
ISHARES TRIJK$2.3M19,7350.84%+0.06pp31qHELD
COSTCO WHOLESALE CORPORATIONCOST$2.3M2,4200.82%-0.19pp31q-6.7%-$162.8K
BROADCOM INCAVGO$2.2M5,8260.80%+0.03pp19q-7.3%-$173.8K
CISCO SYS INCCSCO$2.1M17,8180.76%+0.19pp31q-5.2%-$115.6K
STATE STR SPDR S&P MIDCAP 40MDY$2.0M2,9020.74%+0.04pp31qHELD
ISHARES TREEM$2.0M29,2750.73%+0.06pp31q-2.5%-$51.3K
INTEL CORPINTC$2.0M14,2800.72%+0.47pp31q-0.7%-$14.0K
ISHARES TRIWB$1.9M4,7600.71%+0.03pp31q-1.0%-$20.5K
ISHARES TRIVE$1.9M8,3590.69%-0.02pp31q-1.5%-$28.4K
MICRON TECHNOLOGY INCMU$1.8M1,5700.66%+0.45pp5q-1.1%-$20.8K
ISHARES TRIVV$1.8M2,3580.64%+0.03pp31qHELD
ALLSTATE CORPALL$1.7M7,2700.63%+0.03pp31qHELD
MICROCHIP TECHNOLOGY INC.MCHP$1.6M17,4680.58%+0.13pp31qHELD
ISHARES TRIVW$1.5M11,0620.55%+0.03pp31q-6.0%-$96.7K
ISHARES INCIEMG$1.5M17,8380.54%+0.05pp12qHELD
VISA INCV$1.5M4,2680.53%-0.01pp31q-7.1%-$111.5K
VANGUARD INDEX FDSVTI$1.4M3,8990.52%+0.03pp2q-0.5%-$7.4K
VANGUARD BD INDEX FDSBND$1.4M19,5340.52%-0.04pp2qHELD
CORNING INCGLW$1.4M5,5750.52%+0.22pp9q-0.9%-$12.8K
CAPITAL ONE FINL CORPCOF$1.4M7,0080.51%flat5q-1.5%-$20.9K
ISHARES INCEWJ$1.4M15,0070.51%flat31q-1.3%-$18.7K
SALESFORCE INCCRM$1.4M8,7550.50%-0.20pp31q-8.0%-$119.8K
GOLDMAN SACHS GROUP INCGS$1.4M1,3360.49%-0.01pp31q-10.9%-$164.9K
SCHWAB STRATEGIC TRSCHB$1.3M46,1450.48%+0.03pp23q-0.7%-$9.6K
LOWES COS INCLOW$1.3M5,7430.46%-0.10pp31q-4.2%-$55.1K
RTX CORPORATIONRTX$1.3M6,6160.45%-0.05pp25q-1.3%-$17.1K
KLA CORPKLAC$1.2M4,0400.44%+0.18pp22q+780.2%+$1.1M
ESSEX PPTY TR INCESS$1.2M3,9590.42%+0.04pp31q-1.9%-$21.9K
WALMART INCWMT$1.2M10,1780.42%-0.10pp31q-4.7%-$56.6K
FLEXSHARES TRTDTT$1.1M47,8360.41%-0.04pp31qHELD
CUMMINS INCCMI$1.1M1,5590.40%+0.07pp31q-1.7%-$19.3K
ISHARES TREFA$1.1M10,6100.40%-0.01pp31q-0.9%-$10.4K
GE VERNOVA INCGEV$1.0M8900.38%+0.06pp7q-4.3%-$47.0K
ADVANCED MICRO DEVICES INCAMD$1.0M1,7760.37%+0.23pp14q-2.2%-$23.2K
GE AEROSPACEGE$1.0M2,7050.37%+0.05pp13q-4.9%-$52.3K
FLEXSHARES TRTDTF$985.4K41,4560.36%-0.04pp31qHELD
ISHARES TRIGIB$965.9K18,1650.35%-0.03pp31qHELD
HOME DEPOT INCHD$961.5K2,7260.35%-0.01pp31q-1.3%-$12.3K
ISHARES TREWU$926.7K20,0850.34%-0.02pp31qHELD
ROYAL GOLD INCRGLD$922.1K4,6190.33%-0.14pp31q-3.4%-$32.9K
MERCK & CO INCMRK$834.2K6,4920.30%flat31qHELD
CONSTELLATION ENERGY CORPCEG$806.0K3,2450.29%-0.09pp16q-7.2%-$62.1K
BANK OF AMER CORPBAC$799.7K14,0350.29%+0.02pp31q+1.2%+$9.1K
MARRIOTT INTL INC NEWMAR$799.3K2,1560.29%flat25q-3.6%-$29.7K
AT&T INCT$791.6K38,2420.29%-0.21pp31q-13.3%-$121.4K
UNITEDHEALTH GROUP INCUNH$787.5K1,8940.29%+0.09pp31q+1.1%+$8.3K
CARDINAL HEALTH INCCAH$767.3K3,2300.28%+0.01pp16qHELD
ABBOTT LABORATORIESABT$763.8K8,4180.28%-0.09pp31q-8.5%-$71.2K
ISHARES TRIWM$724.7K2,4120.26%+0.03pp31qHELD
KEYSIGHT TECHNOLOGIES INCKEYS$711.3K2,0320.26%+0.03pp30qHELD
DEERE & CODE$695.9K1,0970.25%+0.01pp31qHELD
SCHWAB STRATEGIC TRSCHA$691.1K19,1270.25%+0.03pp31qHELD
EQUITY LIFESTYLE PROPERTIESELS$687.2K10,6620.25%-0.01pp23q-0.9%-$6.4K
VANGUARD BD INDEX FDSBSV$671.4K8,6180.24%-0.01pp15q+3.6%+$23.4K
D R HORTON INCDHI$670.6K4,1170.24%+0.01pp25q-3.1%-$21.2K
ISHARES TRTIP$667.0K6,0950.24%-0.02pp31qHELD
NETFLIX INCNFLX$649.7K9,1000.24%-0.16pp16q-13.5%-$101.7K
MORGAN STANLEYMS$641.5K3,0690.23%+0.01pp25q-9.6%-$67.9K
AMERICAN EXPRESS COAXP$631.9K1,8680.23%flat31q-2.7%-$17.3K
CIENA CORPCIEN$628.2K1,2800.23%flat3q-15.2%-$112.9K
SPDR SERIES TRUSTSPSB$607.7K20,2500.22%-0.02pp31qHELD
INTUITIVE SURGICAL INCISRG$607.7K1,5280.22%-0.10pp31q-12.3%-$85.5K
EMERSON ELEC COEMR$599.1K4,1850.22%flat31qHELD
TEXAS INSTRS INCTXN$597.3K2,0040.22%+0.07pp23q+1.2%+$7.2K
MCDONALDS CORPMCD$596.3K2,2060.22%-0.05pp31qHELD
GENERAL DYNAMICS CORPGD$581.0K1,6400.21%-0.01pp31qHELD
UNION PAC CORPUNP$575.8K2,1170.21%+0.01pp31q+1.7%+$9.5K
J P MORGAN EXCHANGE TRADED FJIRE$568.4K6,8900.21%flat7qHELD
ISHARES INCEWN$564.5K8,0250.20%+0.02pp30q-2.4%-$14.1K
FEDEX CORPFDX$550.0K1,7560.20%-0.07pp31q-7.9%-$47.0K
TERRESTRIAL ENERGY INCIMSR$538.0K75,9950.19%+0.02pp3qHELD
VANGUARD INTL EQUITY INDEX FVWO$534.5K8,9550.19%flat31q-1.9%-$10.1K
COLGATE PALMOLIVE COCL$524.7K5,7230.19%-0.01pp31q-5.1%-$28.4K
PROCTER & GAMBLE COPG$511.0K3,4840.19%-0.02pp31q-3.2%-$16.9K
MCKESSON CORPMCK$489.6K6480.18%-0.04pp18q+1.2%+$6.0K
TAIWAN SEMICONDUCTOR MANUFACTSM$481.4K1,0080.17%+0.04pp5qHELD
COCA COLA COKO$479.7K5,9030.17%-0.02pp31q-9.2%-$48.4K
DISNEY WALT CODIS$467.5K4,8570.17%-0.04pp31q-11.0%-$57.7K
PROLOGIS INC.PLD$462.0K3,4100.17%-0.03pp25q-8.8%-$44.8K
INTERNATIONAL BUSINESS MACHSIBM$451.3K1,6050.16%flat31q-4.5%-$21.1K
LINDE PLCLIN$447.3K8620.16%-0.01pp14q-4.4%-$20.8K
DUKE ENERGY CORP NEWDUK$445.6K3,5200.16%-0.03pp31q-7.9%-$38.0K
ISHARES TRLQD$443.7K4,0670.16%-0.01pp31q-0.7%-$3.3K
LAM RESEARCH CORPLRCX$442.0K1,0200.16%+0.07pp3q-4.7%-$21.7K
SCHWAB STRATEGIC TRSCHF$426.9K15,4110.15%flat14qHELD
PARKER-HANNIFIN CORPPH$420.6K4300.15%flat14qHELD
TRAVELERS COMPANIES INCTRV$419.3K1,2700.15%-0.01pp31q-11.5%-$54.5K
CARRIER GLOBAL CORPORATIONCARR$417.8K5,6960.15%+0.02pp25q-2.6%-$11.0K
BANK OF NY MELLON CORPBNY$414.3K2,8650.15%flat10q-12.8%-$60.7K
MASTERCARD INCORPORATEDMA$410.4K7990.15%-0.01pp27qHELD
AMGEN INCAMGN$405.2K1,1190.15%-0.01pp31qHELD
CURTISS WRIGHT CORPCW$403.9K5330.15%+0.01pp5q+3.9%+$15.2K
ISHARES INCEWQ$398.9K8,7800.14%-0.01pp31q-1.1%-$4.5K
CSX CORPCSX$397.4K8,3600.14%+0.01pp31q-0.6%-$2.4K
FIFTH THIRD BANCORPFITB$389.7K6,9130.14%flat11q-9.8%-$42.3K
GENERAL MTRS COGM$385.0K4,9950.14%-0.01pp23qHELD
DELL TECHNOLOGIES INCDELL$382.3K8860.14%-newNEW
WESTERN DIGITAL CORPWDC$373.0K5840.14%-newNEW
SCHWAB STRATEGIC TRSCHX$363.8K12,3600.13%+0.01pp15qHELD
JABIL INCJBL$360.4K9350.13%+0.02pp5q-11.8%-$48.2K
SYNOPSYS INCSNPS$359.1K8050.13%flat30qHELD
ISHARES INCEWG$350.1K8,4630.13%-0.01pp31q-1.2%-$4.1K
CADENCE DESIGN SYSTEM INCCDNS$347.2K9250.13%+0.02pp15q-5.1%-$18.8K
AIR PRODUCTS AND CHEMICALS IAPD$342.7K1,1680.12%-0.01pp25qHELD
ISHARES TRSHY$340.8K4,1500.12%-0.01pp21qHELD
WILLIAMS SONOMA INCWSM$338.0K1,4500.12%flat10q-17.1%-$69.9K
STARBUCKS CORPSBUX$330.1K3,2300.12%+0.01pp31qHELD
SELECT SECTOR SPDR TRXLI$329.7K1,7800.12%+0.01pp13qHELD
BLACKROCK INCBLK$325.0K3380.12%-0.01pp6q+3.0%+$9.6K
REALTY INCOME CORPO$321.9K5,1950.12%-0.01pp31q-3.3%-$10.8K
SHERWIN WILLIAMS COSHW$320.9K9320.12%flat31qHELD
VERIZON COMMUNICATIONS INCVZ$319.8K7,5540.12%-0.04pp31q-5.0%-$16.9K
DIGITAL RLTY TR INCDLR$318.8K1,7750.12%-0.01pp13qHELD
NEXTERA ENERGY INCNEE$316.6K3,6070.11%-0.02pp31q-4.0%-$13.2K
ROCKWELL AUTOMATION INCROK$308.8K6230.11%+0.02pp5qHELD
BWX TECHNOLOGIES INCBWXT$308.5K1,5850.11%-0.02pp5q-5.9%-$19.5K
ROSS STORES INCROST$302.9K1,4230.11%-0.01pp3q+2.5%+$7.4K
ARCHER DANIELS MIDLAND COADM$294.9K3,8600.11%-0.01pp26q-2.5%-$7.6K
FAIR ISAAC CORPFICO$292.7K2450.11%flat15q-3.9%-$11.9K
ALPS ETF TRAMLP$290.4K5,6000.11%-0.01pp22qHELD
TESLA INCTSLA$290.2K6900.11%flat25qHELD
THERMO FISHER SCIENTIFIC INCTMO$282.3K5630.10%-0.01pp31q-6.6%-$20.1K
TOLL BROTHERS INCTOL$280.9K1,7050.10%flat10q-10.5%-$33.0K
HEWLETT PACKARD ENTERPRISE CHPE$280.8K6,2250.10%-newNEW
EXELON CORPEXC$278.6K5,9750.10%-0.03pp31q-13.1%-$42.0K
TERADYNE INCTER$278.2K5750.10%+0.02pp2q-12.9%-$41.1K
WISDOMTREE TRDLN$272.0K2,8240.10%flat10qHELD
GILEAD SCIENCES INCGILD$268.1K2,1220.10%-0.02pp6q-3.4%-$9.5K
OREILLY AUTOMOTIVE INCORLY$266.6K2,8950.10%-0.01pp6q-1.5%-$4.1K
CVS HEALTH CORPCVS$260.8K2,5200.09%+0.02pp4q-8.3%-$23.7K
GENUINE PARTS COGPC$260.7K2,2100.09%flat31q-2.2%-$5.9K
SPDR SERIES TRUSTSLYV$257.1K2,3560.09%+0.01pp8qHELD
ISHARES INCEWC$254.8K4,4200.09%flat25qHELD
QUALCOMM INCQCOM$254.1K1,3750.09%-newNEW
SCHWAB STRATEGIC TRSCHO$252.3K10,4500.09%-0.01pp12qHELD
JOHNSON CONTROLS INTERNATIONJCI$250.6K1,7150.09%flat5q-6.8%-$18.3K
FLAHERTY & CRUMRIN PFD & INMFFC$250.5K15,3880.09%flat31qHELD
KIMBERLY-CLARK CORPKMB$247.5K2,2550.09%flat31qHELD
ISHARES INCEWL$243.5K3,8750.09%flat6qHELD
POLARIS INCPII$243.0K3,5500.09%+0.01pp4qHELD
SPDR SERIES TRUSTJNK$240.9K2,5000.09%-0.01pp12qHELD
COMCAST CORP NEWCMCSA$240.8K9,8100.09%-0.02pp31q-1.0%-$2.5K
META PLATFORMS INCMETA$239.4K4250.09%-0.02pp10q-7.4%-$19.2K
CAMECO CORPCCJ$239.4K2,3500.09%-0.01pp3qHELD
LABCORP HOLDINGS INCLH$234.8K8380.09%-0.01pp9q-5.6%-$14.0K
EASTMAN CHEM COEMN$234.4K3,5000.08%-0.02pp31q-2.1%-$5.0K
NORFOLK SOUTHN CORPNSC$231.9K7370.08%-0.01pp11q-11.9%-$31.5K
NETAPP INCNTAP$229.0K1,4800.08%-newNEW
FLEX LTDFLEX$228.5K1,4100.08%-newNEW
BRISTOL-MYERS SQUIBB COBMY$228.2K3,9610.08%-0.01pp3q-1.5%-$3.5K
ISHARES INCEWD$227.4K4,5500.08%flat5qHELD
VANGUARD INDEX FDSVOO$227.3K3310.08%flat11qHELD
EDWARDS LIFESCIENCES CORPEW$226.2K2,5000.08%flat3qHELD
SEAGATE TECHNOLOGY HLDNGS PLSTX$224.8K2330.08%-newNEW
CHUBB LIMITEDCB$223.2K6550.08%-0.01pp8q-8.4%-$20.4K
BOOKING HOLDINGS INCBKNG$219.2K1,2300.08%flat7q+2462.5%+$210.7K
ECOLAB INCECL$217.3K7800.08%flat2qHELD
TJX COS INC NEWTJX$214.8K1,4180.08%flat2q+7.6%+$15.2K
INTUITINTU$214.5K8220.08%-0.09pp31q-14.6%-$36.5K
ISHARES TRTLT$213.9K2,4750.08%-0.01pp31qHELD
ISHARES INCEWA$212.1K7,5330.08%-0.01pp11qHELD
AGNICO EAGLE MINES LTDAEM$210.4K1,3560.08%-0.03pp4qHELD
ALBEMARLE CORPALB$209.8K1,5540.08%-0.03pp3qHELD
TENET HEALTHCARE CORPTHC$206.7K1,1050.07%-0.02pp3q-15.3%-$37.4K
OTIS WORLDWIDE CORPOTIS$204.6K2,8570.07%-0.02pp25q-4.7%-$10.2K
TE CONNECTIVITY PLCTEL$201.6K1,0000.07%-0.01pp4qHELD
STATE STR CORPSTT$201.0K1,1850.07%-newNEW
STATE STR SPDR S&P 500 ETF TSPY$200.6K2680.07%-newNEW
HUNT J B TRANS SVCS INCJBHT$199.7K6900.07%-newNEW
ILLINOIS TOOL WKS INCITW$198.0K7320.07%-0.01pp2q-8.2%-$17.6K
EDISON INTLEIX$196.0K2,6330.07%flat2qHELD
METLIFE INCMET$194.5K2,2990.07%-newNEW
SOUTHERN COSO$193.9K2,0260.07%-0.02pp6q-12.9%-$28.7K
PEPSICO INCPEP$193.9K1,4320.07%-0.02pp31q-6.5%-$13.5K
OMNICOM GROUP INCOMC$192.7K2,6460.07%-0.01pp3qHELD
AUTOZONE INCAZO$188.6K590.07%flat2q+7.3%+$12.8K
PACCAR INCPCAR$186.8K1,5550.07%-0.01pp3q-8.8%-$18.0K
EATON CORP PLCETN$185.4K4350.07%-newNEW
METTLER TOLEDO INTERNATIONALMTD$184.0K1440.07%-0.01pp3q-6.5%-$12.8K
TEXTRON INCTXT$183.5K2,0000.07%-newNEW

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.

Software & IT Services 9.4%Semiconductors & Electronics 8.6%Computer Hardware 7.4%Retail & Consumer 4.3%Biotech & Pharma 3.7%Banks & Lending 3.4%Industrials 2.8%Insurance 2.8%Capital Markets 1.7%Other sectors 11.5%Not classified 44.2%
 
SectorValueShare
Software & IT Services$26.0M9.4%
Semiconductors & Electronics$23.9M8.6%
Computer Hardware$20.4M7.4%
Retail & Consumer$11.8M4.3%
Biotech & Pharma$10.2M3.7%
Banks & Lending$9.4M3.4%
Industrials$7.7M2.8%
Insurance$7.7M2.8%
Capital Markets$4.8M1.7%
Other sectors$31.9M11.5%
Not classified$122.1M44.2%

Quarter by quarter

QuarterValuePositions NewAddedTrimmed ExitedTop 10 Days to file
Q2 2026$276.1M20713181111040.2%38
Q1 2026$255.0M2041387571341.3%43
Q4 2025$257.5M20414181141642.4%44
Q3 2025$261.4M206113275443.2%44
Q2 2025$244.1M199105865343.3%39
Q1 2025$220.4M19272791742.4%44
Q4 2024$224.9M192531981041.5%38
Q3 2024$231.9M1971228108740.8%45
Q2 2024$224.7M19243480941.0%43
Q1 2024$223.7M197174471639.1%43
Q4 2023$206.0M18685091539.0%45
Q3 2023$187.0M183332801238.4%44
Q2 2023$196.4M19284783637.5%42
Q1 2023$182.9M19075467836.3%41
Q4 2022$170.7M191175764834.8%45
Q3 2022$154.3M182646692136.1%46
Q2 2022$187.3M197039621234.1%43
Q1 2022$216.3M2095511012433.5%43
Q4 2021$236.6M228216346232.6%45
Q3 2021$210.4M209312127633.3%46
Q2 2021$213.8M21283478232.0%44
Q1 2021$200.6M20675096231.5%42
Q4 2020$188.1M201234868432.6%47
Q3 2020$161.3M18286258732.5%43
Q2 2020$146.5M181247052531.9%44
Q1 2020$115.1M162552702432.8%45
Q4 2019$146.4M181733100629.8%44
Q3 2019$137.6M18043587927.7%46
Q2 2019$137.8M185133254526.3%44
Q1 2019$131.3M177206042226.3%44
Q4 2018$111.8M159000026.4%45

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.