# True Capital Management

> Institutional holdings reported to the SEC as of Q1 2023 on Form 13F. CIK 1697333. Source: https://holderbook.com/funds/1697333-true-capital-management/

- Reported value: $146.0M
- Positions: 129
- Weight of the ten largest: 40.4%
- Filed: 2023-05-02

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $12.6M | 76,524 | 8.6% | 2 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $8.0M | 945,464 | 5.5% | 2 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $7.1M | 46,129 | 4.9% | 2 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $7.1M | 22,081 | 4.9% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $5.8M | 27,568 | 4.0% | 2 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.9M | 13,907 | 2.6% | 2 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $3.8M | 18,150 | 2.6% | 2 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.8M | 36,106 | 2.6% | 2 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $3.5M | 33,802 | 2.4% | 2 |
| COINBASE GLOBAL INC | [COIN](https://holderbook.com/stocks/COIN/) | $3.4M | 50,792 | 2.4% | 2 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $3.4M | 24,297 | 2.3% | 2 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.2M | 31,200 | 2.2% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $3.2M | 7,806 | 2.2% | 2 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.6M | 9,115 | 1.8% | 2 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $2.6M | 58,843 | 1.8% | 2 |
| BLOCK INC | [XYZ](https://holderbook.com/stocks/XYZ/) | $2.6M | 37,956 | 1.8% | 2 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $2.4M | 10,738 | 1.7% | 2 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $2.4M | 16,328 | 1.6% | 2 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $2.3M | 15,711 | 1.6% | 2 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $2.3M | 9,309 | 1.6% | 2 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $2.1M | 56,633 | 1.4% | 2 |
| ARK ETF TR | [ARKK](https://holderbook.com/stocks/ARKK/) | $1.5M | 37,957 | 1.0% | 2 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $1.4M | 13,429 | 0.9% | 2 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.3M | 3,154 | 0.9% | 2 |
| FIRST TR EXCHANGE-TRADED FD | [FTSM](https://holderbook.com/stocks/FTSM/) | $1.3M | 21,659 | 0.9% | 2 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $1.3M | 39,549 | 0.9% | 2 |
| VANGUARD WORLD FD | [VHT](https://holderbook.com/stocks/VHT/) | $1.3M | 5,275 | 0.9% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.2M | 5,520 | 0.9% | 2 |
| CLOROX CO DEL | [CLX](https://holderbook.com/stocks/CLX/) | $1.2M | 7,728 | 0.8% | 2 |
| FIRST TR EXCHANGE-TRADED FD | [FVD](https://holderbook.com/stocks/FVD/) | $1.2M | 30,141 | 0.8% | 2 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $1.2M | 9,500 | 0.8% | 2 |
| INVESCO EXCH TRADED FD TR II | [QQQJ](https://holderbook.com/stocks/QQQJ/) | $1.2M | 45,900 | 0.8% | 2 |
| ISHARES TR | [IBB](https://holderbook.com/stocks/IBB/) | $1.1M | 8,433 | 0.7% | 2 |
| FIRST TR EXCHANGE-TRADED FD | [FDN](https://holderbook.com/stocks/FDN/) | $1.1M | 7,290 | 0.7% | 2 |
| INVESCO EXCH TRADED FD TR II | [PSCT](https://holderbook.com/stocks/PSCT/) | $1.1M | 8,169 | 0.7% | 2 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $1.1M | 46,110 | 0.7% | 2 |
| FB FINL CORP | [FBK](https://holderbook.com/stocks/FBK/) | $1.0M | 33,582 | 0.7% | 2 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $1.0M | 5,039 | 0.7% | 2 |
| ISHARES TR | [ICLN](https://holderbook.com/stocks/ICLN/) | $1.0M | 50,796 | 0.7% | 2 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $990.1K | 11,923 | 0.7% | 2 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $957.8K | 30,215 | 0.7% | 2 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $902.5K | 12,408 | 0.6% | 2 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $833.9K | 8,575 | 0.6% | 2 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $827.5K | 5,480 | 0.6% | 2 |
| FIRST TR EXCHANGE-TRADED ALP | [FTC](https://holderbook.com/stocks/FTC/) | $810.1K | 8,708 | 0.6% | 2 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $804.3K | 7,911 | 0.6% | 2 |
| SELECT SECTOR SPDR TR | [XLP](https://holderbook.com/stocks/XLP/) | $760.5K | 10,180 | 0.5% | 2 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $739.3K | 2,140 | 0.5% | 2 |
| FIRST TR EXCHANGE-TRADED FD | [FTCS](https://holderbook.com/stocks/FTCS/) | $723.9K | 9,924 | 0.5% | 2 |
| GLOBAL X FDS | [BUG](https://holderbook.com/stocks/BUG/) | $691.4K | 29,483 | 0.5% | 2 |
| OAKTREE SPECIALTY LENDING | [OCSL](https://holderbook.com/stocks/OCSL/) | $649.6K | 34,607 | 0.4% | 1 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $643.2K | 6,097 | 0.4% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $640.1K | 4,912 | 0.4% | 2 |
| ISHARES TR | [IYW](https://holderbook.com/stocks/IYW/) | $635.8K | 6,851 | 0.4% | 2 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $634.9K | 13,269 | 0.4% | 2 |
| LUMINAR TECHNOLOGIES INC | [LAZRXXXX](https://holderbook.com/stocks/LAZRXXXX/) | $621.6K | 95,782 | 0.4% | 2 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $565.5K | 3,414 | 0.4% | 2 |
| FIRST TR EXCHANGE-TRADED FD | [FDL](https://holderbook.com/stocks/FDL/) | $556.7K | 15,681 | 0.4% | 2 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $533.8K | 2,672 | 0.4% | 2 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $531.4K | 1,721 | 0.4% | 2 |
| GOLUB CAP BDC INC | [GBDC](https://holderbook.com/stocks/GBDC/) | $522.5K | 38,532 | 0.4% | 2 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $495.2K | 1,771 | 0.3% | 2 |
| VANECK ETF TRUST | [GENZ](https://holderbook.com/stocks/GENZ/) | $485.5K | 10,945 | 0.3% | 2 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $443.0K | 690 | 0.3% | 2 |
| FIRST TR EXCH TRADED FD III | [FPE](https://holderbook.com/stocks/FPE/) | $440.1K | 27,572 | 0.3% | 2 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $432.9K | 5,863 | 0.3% | 2 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $426.3K | 858 | 0.3% | 2 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $409.4K | 2,160 | 0.3% | 2 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $406.8K | 9,116 | 0.3% | 2 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $398.5K | 8,823 | 0.3% | 2 |
| VANGUARD WORLD FD | [MGV](https://holderbook.com/stocks/MGV/) | $376.7K | 3,729 | 0.3% | 2 |
| ISHARES TR | [DVY](https://holderbook.com/stocks/DVY/) | $375.1K | 3,201 | 0.3% | 2 |
| ISHARES TR | [IXUS](https://holderbook.com/stocks/IXUS/) | $372.8K | 6,017 | 0.3% | 2 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $372.5K | 1,766 | 0.3% | 2 |
| FIRST TR EXCHANGE-TRADED FD | [RDVY](https://holderbook.com/stocks/RDVY/) | $371.2K | 8,274 | 0.3% | 2 |
| VANGUARD WORLD FD | [VFH](https://holderbook.com/stocks/VFH/) | $369.2K | 4,740 | 0.3% | 2 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $366.1K | 3,515 | 0.3% | 2 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $363.0K | 965 | 0.2% | 2 |
| J P MORGAN EXCHANGE TRADED F | [JPST](https://holderbook.com/stocks/JPST/) | $354.0K | 7,035 | 0.2% | 1 |
| MONDELEZ INTL INC | [MDLZ](https://holderbook.com/stocks/MDLZ/) | $352.3K | 5,052 | 0.2% | 2 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $348.7K | 11,646 | 0.2% | 2 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $348.5K | 1,954 | 0.2% | 2 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $347.1K | 8,592 | 0.2% | 2 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $343.5K | 3,431 | 0.2% | 2 |
| FIRST TR EXCHANGE-TRADED ALP | [FEX](https://holderbook.com/stocks/FEX/) | $342.7K | 4,257 | 0.2% | 2 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $338.8K | 2,186 | 0.2% | 2 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $329.4K | 1,798 | 0.2% | 2 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $328.7K | 1,114 | 0.2% | 2 |
| ISHARES TR | [IWY](https://holderbook.com/stocks/IWY/) | $324.9K | 2,338 | 0.2% | 2 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $319.9K | 5,006 | 0.2% | 2 |
| FIRST TR EXCHNG TRADED FD VI | [UCON](https://holderbook.com/stocks/UCON/) | $313.4K | 12,947 | 0.2% | 2 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $309.9K | 1,900 | 0.2% | 2 |
| ARK ETF TR | [ARKG](https://holderbook.com/stocks/ARKG/) | $305.8K | 10,168 | 0.2% | 2 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $303.2K | 1,203 | 0.2% | 2 |
| CONSOLIDATED EDISON INC | [ED](https://holderbook.com/stocks/ED/) | $300.0K | 3,136 | 0.2% | 2 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $293.3K | 2,993 | 0.2% | 1 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $286.6K | 1,572 | 0.2% | 2 |
| ISHARES TR | [ICF](https://holderbook.com/stocks/ICF/) | $285.7K | 5,143 | 0.2% | 2 |
| FIRST TR EXCHANGE TRADED FD | [FPX](https://holderbook.com/stocks/FPX/) | $283.9K | 3,377 | 0.2% | 2 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $281.3K | 1,512 | 0.2% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2023 | +14.9% | +7.0% | +7.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2023 | $146.0M | 129 |
| Q4 2022 | $123.0M | 121 |