Graves Light Lenhart Wealth, Inc.
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ISHARES TR | AGG | $102.2M | 1,080,576 | -0.62pp | 32q | -2.0%-$2.0M | |
| ISHARES TR | IEFA | $101.3M | 1,045,399 | +0.35pp | 26q | +3.2%+$3.1M | |
| DIMENSIONAL ETF TRUST | DFCF | $61.9M | 1,542,137 | +0.35pp | 16q | +11.6%+$6.4M | |
| ISHARES TR | IJR | $43.4M | 318,810 | -0.24pp | 32q | +2.6%+$1.1M | |
| ISHARES TR | IJH | $40.1M | 556,969 | -0.07pp | 32q | +4.9%+$1.9M | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $35.6M | 71,402 | -0.08pp | 32q | -2.3%-$826.1K | |
| APPLE INC | AAPL | $33.8M | 101,590 | +0.29pp | 14q | -4.7%-$1.7M | |
| DIMENSIONAL ETF TRUST | DFNM | $28.2M | 612,276 | +0.13pp | 16q | +10.0%+$2.6M | |
| VANGUARD WHITEHALL FDS | VYM | $27.8M | 178,978 | -0.07pp | 32q | -1.2%-$335.7K | |
| VANGUARD MALVERN FDS | VTIP | $26.6M | 540,037 | +1.64pp | 32q | +196.7%+$17.6M | |
| SPDR SERIES TRUST | SDY | $26.5M | 180,803 | -0.10pp | 32q | HELD | |
| VANGUARD SPECIALIZED FUNDS | VIG | $26.2M | 112,128 | -0.08pp | 32q | -2.3%-$611.0K | |
| VANGUARD ADMIRAL FDS INC | VOOG | $24.1M | 281,381 | +0.26pp | 18q | +8.7%+$1.9M | |
| DIMENSIONAL ETF TRUST | DFUV | $23.4M | 425,611 | +0.12pp | 15q | +5.6%+$1.2M | |
| SELECT SECTOR SPDR TR | XLV | $23.3M | 138,567 | +0.09pp | 32q | -2.0%-$466.0K | |
| DIMENSIONAL ETF TRUST | DFAX | $23.1M | 623,582 | +0.19pp | 7q | +8.6%+$1.8M | |
| ALPHABET INC | GOOGL | $22.5M | 65,397 | -0.18pp | 32q | -4.8%-$1.1M | |
| SCHWAB STRATEGIC TR | SCHD | $21.4M | 656,368 | +0.03pp | 27q | -1.5%-$331.7K | |
| VANGUARD BD INDEX FDS | BSV | $20.6M | 269,687 | -0.38pp | 32q | -15.2%-$3.7M | |
| VANGUARD SCOTTSDALE FDS | VCSH | $20.0M | 259,160 | -0.35pp | 32q | -14.1%-$3.3M | |
| INVESCO EXCHANGE TRADED FD T | SPHQ | $19.7M | 234,840 | -0.19pp | 32q | -3.0%-$604.1K | |
| VANGUARD ADMIRAL FDS INC | VOOV | $18.6M | 84,364 | +0.12pp | 24q | +6.7%+$1.2M | |
| DIMENSIONAL ETF TRUST | DFEV | $14.1M | 332,966 | -0.03pp | 18q | -1.9%-$273.1K | |
| VANGUARD MUN BD FDS | VTEB | $13.2M | 277,993 | +0.16pp | 10q | +22.2%+$2.4M | |
| AMAZON COM INC | AMZN | $12.3M | 49,186 | +0.02pp | 24q | -2.9%-$360.3K | |
| ISHARES TR | IWB | $10.5M | 25,124 | +0.02pp | 14q | HELD | |
| VANGUARD INDEX FDS | VTI | $10.4M | 27,749 | +0.04pp | 32q | +2.6%+$264.6K | |
| ISHARES TR | IGM | $9.4M | 55,337 | +0.02pp | 32q | -1.1%-$107.5K | |
| JPMORGAN CHASE & CO | JPM | $8.2M | 24,871 | -0.02pp | 32q | -3.7%-$312.3K | |
| VANGUARD TAX-MANAGED FDS | VEA | $7.9M | 111,457 | flat | 32q | HELD | |
| ALPHABET INC | GOOG | $7.7M | 22,528 | -0.08pp | 32q | -7.3%-$605.8K | |
| CHEVRON CORPORATION | CVX | $7.6M | 37,076 | +0.11pp | 32q | -4.9%-$391.7K | |
| ISHARES TR | IVV | $7.2M | 9,385 | +0.01pp | 32q | -1.2%-$87.3K | |
| SYSCO CORP | SYY | $7.2M | 92,142 | -0.08pp | 32q | -4.5%-$342.2K | |
| VANGUARD BD INDEX FDS | BND | $7.1M | 100,889 | -0.17pp | 32q | -17.4%-$1.5M | |
| J P MORGAN EXCHANGE TRADED F | JMST | $6.4M | 126,802 | +0.02pp | 20q | +3.9%+$239.4K | |
| WISDOMTREE TR | DLN | $5.7M | 58,944 | -0.03pp | 32q | -6.0%-$366.0K | |
| MICROSOFT CORP | MSFT | $5.6M | 10,873 | +0.13pp | 32q | -2.9%-$165.2K | |
| ISHARES TR | IJS | $5.3M | 41,438 | -0.03pp | 22q | HELD | |
| VANGUARD INTL EQUITY INDEX F | VEU | $5.3M | 63,677 | -0.02pp | 32q | -2.6%-$142.4K | |
| ISHARES TR | IVW | $5.2M | 36,770 | +0.01pp | 32q | -1.3%-$69.1K | |
| EXXONMOBIL HOLDINGS CORP COM SHS | XOM | $5.1M | 31,208 | - | new | NEW | |
| SPDR SERIES TRUST | BIL | $5.0M | 54,134 | -0.20pp | 14q | -30.4%-$2.2M | |
| STATE STR SPDR S&P 500 ETF T | SPY | $4.8M | 6,251 | -0.01pp | 32q | -4.9%-$243.3K | |
| BERKSHIRE HATHAWAY INC DEL | BRKA | $4.5M | 6 | flat | 32q | HELD | |
| ISHARES TR | DVY | $4.1M | 27,168 | -0.01pp | 32q | HELD | |
| ISHARES TR | EFA | $3.5M | 33,775 | -0.01pp | 14q | -3.1%-$113.3K | |
| ISHARES TR | ACWX | $3.3M | 44,127 | flat | 32q | HELD | |
| DIMENSIONAL ETF TRUST | DFSD | $3.3M | 71,240 | -0.07pp | 16q | -17.1%-$682.6K | |
| VANGUARD INDEX FDS | VB | $3.1M | 10,795 | -0.03pp | 31q | -3.5%-$110.1K | |
| ISHARES TR | IVE | $2.9M | 12,699 | flat | 32q | HELD | |
| VANGUARD INDEX FDS | VO | $2.9M | 36,803 | -0.01pp | 26q | -1.4%-$40.5K | |
| ELI LILLY & CO | LLY | $2.7M | 2,309 | -0.01pp | 32q | HELD | |
| MERCK & CO INC | MRK | $2.6M | 17,854 | +0.02pp | 32q | -3.0%-$80.4K | |
| STATE STR SPDR DOW JONES IND | DIA | $2.6M | 5,050 | -0.01pp | 32q | HELD | |
| VANGUARD INDEX FDS | VUG | $2.4M | 26,262 | -0.01pp | 31q | -7.4%-$188.5K | |
| TRUIST FINL CORP | TFC | $2.3M | 50,551 | -0.02pp | 28q | -0.9%-$21.2K | |
| PACKAGING CORP AMER | PKG | $2.3M | 10,155 | -0.07pp | 15q | -21.8%-$650.9K | |
| PROCTER & GAMBLE CO | PG | $2.1M | 14,565 | -0.01pp | 32q | -3.9%-$85.1K | |
| COSTCO WHOLESALE CORPORATION | COST | $1.9M | 2,134 | -0.02pp | 32q | -6.6%-$137.4K | |
| DUKE ENERGY CORP NEW | DUK | $1.9M | 17,002 | -0.02pp | 32q | -1.0%-$20.4K | |
| JOHNSON & JOHNSON | JNJ | $1.9M | 7,028 | flat | 32q | -3.2%-$61.2K | |
| ISHARES TR | IWN | $1.8M | 8,673 | -0.01pp | 29q | -1.4%-$26.0K | |
| DIMENSIONAL ETF TRUST | DFAS | $1.8M | 23,185 | -0.03pp | 16q | -8.7%-$170.9K | |
| VANGUARD INTL EQUITY INDEX F | VT | $1.7M | 11,018 | flat | 14q | HELD | |
| ELEVANCE HEALTH INC FORMERLY | ELV | $1.7M | 4,382 | -0.08pp | 32q | -32.6%-$825.4K | |
| ISHARES TR | IYW | $1.7M | 6,348 | +0.01pp | 32q | HELD | |
| ISHARES TR | MUB | $1.7M | 16,578 | -0.01pp | 32q | HELD | |
| WELLS FARGO & CO | WFC | $1.6M | 20,591 | -0.01pp | 32q | -0.8%-$13.1K | |
| ISHARES TR | IWV | $1.4M | 3,244 | flat | 32q | -1.8%-$26.3K | |
| NVIDIA CORPORATION | NVDA | $1.4M | 6,094 | +0.01pp | 14q | -1.8%-$25.1K | |
| EMERSON ELEC CO | EMR | $1.4M | 8,875 | +0.01pp | 32q | HELD | |
| DISNEY WALT CO | DIS | $1.4M | 12,911 | +0.01pp | 14q | -0.6%-$8.3K | |
| BANK OF AMER CORP | BAC | $1.4M | 24,837 | -0.01pp | 32q | HELD | |
| DOMINION ENERGY INC | D | $1.3M | 22,068 | -0.03pp | 32q | -12.1%-$184.0K | |
| BROADCOM INC | AVGO | $1.3M | 3,568 | -0.01pp | 12q | -0.9%-$10.9K | |
| SCHWAB STRATEGIC TR | SCHZ | $1.1M | 49,331 | -0.02pp | 32q | -9.8%-$118.6K | |
| DIMENSIONAL ETF TRUST | DFAI | $1.1M | 26,206 | flat | 16q | -4.7%-$53.2K | |
| DIMENSIONAL ETF TRUST | DFEM | $1.1M | 26,720 | flat | 4q | HELD | |
| VANGUARD INSTL INDEX FD | VBIL | $1.0M | 13,374 | flat | 4q | HELD | |
| UNIVEST FINANCIAL CORPORATIO | UVSP | $1.0M | 24,450 | -0.01pp | 3q | HELD | |
| VANGUARD INDEX FDS | VBR | $991.0K | 4,290 | -0.01pp | 24q | -1.7%-$17.6K | |
| ISHARES TR | USMV | $976.1K | 10,017 | flat | 32q | HELD | |
| EOG RES INC | EOG | $968.7K | 7,032 | +0.01pp | 32q | -0.6%-$6.1K | |
| CSX CORP | CSX | $958.8K | 20,616 | flat | 31q | HELD | |
| ABBVIE INC | ABBV | $919.0K | 3,513 | flat | 32q | -3.9%-$37.1K | |
| GE AEROSPACE | GE | $916.9K | 2,936 | -0.02pp | 21q | -4.3%-$40.9K | |
| CATERPILLAR INC | CAT | $913.3K | 1,126 | -0.03pp | 24q | HELD | |
| ORACLE CORP | ORCL | $882.8K | 6,430 | -0.01pp | 32q | -4.0%-$36.4K | |
| VERIZON COMMUNICATIONS INC | VZ | $860.1K | 18,751 | +0.01pp | 32q | -1.6%-$13.8K | |
| AMERICAN ELEC PWR CO INC | AEP | $818.4K | 6,898 | -0.01pp | 32q | HELD | |
| VANGUARD INDEX FDS | VOO | $795.1K | 1,134 | -0.04pp | 31q | -33.8%-$405.3K | |
| AMERICAN EXPRESS CO | AXP | $791.6K | 2,603 | -0.01pp | 26q | HELD | |
| UNITEDHEALTH GROUP INC | UNH | $748.8K | 2,040 | -0.01pp | 32q | HELD | |
| PEPSICO INC | PEP | $739.7K | 5,837 | -0.01pp | 32q | -12.0%-$101.3K | |
| CORNING INC | GLW | $735.1K | 4,781 | -0.05pp | 6q | -1.4%-$10.5K | |
| VANGUARD WORLD FD | VGT | $723.6K | 5,758 | -0.02pp | 15q | -26.5%-$261.4K | |
| VANGUARD WORLD FD | VHT | $705.6K | 2,232 | flat | 32q | -4.9%-$36.7K | |
| SOUTHERN CO | SO | $703.0K | 8,481 | -0.01pp | 32q | HELD | |
| COCA COLA CO | KO | $692.6K | 8,046 | flat | 32q | -5.4%-$39.3K | |
| PNC FINL SVCS GROUP INC | PNC | $690.7K | 3,108 | -0.02pp | 32q | -13.6%-$108.9K | |
| ISHARES TR | IBB | $682.7K | 3,243 | +0.01pp | 32q | -1.4%-$9.5K | |
| GE VERNOVA INC | GEV | $666.3K | 701 | -0.02pp | 8q | -6.2%-$43.7K | |
| VANGUARD WORLD FD | VDE | $634.1K | 3,683 | +0.01pp | 24q | -1.4%-$8.8K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $634.0K | 2,883 | -0.02pp | 32q | -4.0%-$26.4K | |
| ISHARES TR | IWF | $621.8K | 4,964 | flat | 26q | HELD | |
| HOME DEPOT INC | HD | $608.7K | 2,140 | -0.01pp | 31q | -0.5%-$3.1K | |
| ADVANCED MICRO DEVICES INC | AMD | $591.6K | 967 | flat | 2q | HELD | |
| MCDONALDS CORP | MCD | $570.6K | 2,471 | -0.02pp | 32q | -12.2%-$79.2K | |
| 3M CO | MMM | $564.8K | 3,440 | flat | 32q | -1.4%-$8.2K | |
| INVESCO QQQ TR | QQQ | $553.4K | 748 | -0.02pp | 14q | -24.9%-$183.5K | |
| META PLATFORMS INC | META | $549.6K | 758 | +0.01pp | 6q | -0.7%-$3.6K | |
| ATLANTIC UN BANKSHARES CORP | AUB | $533.1K | 14,048 | -0.01pp | 30q | HELD | |
| SLB LIMITED | SLB | $531.0K | 10,898 | flat | 13q | -0.7%-$3.7K | |
| APPLIED MATLS INC | AMAT | $525.7K | 1,028 | -0.02pp | 6q | HELD | |
| MORGAN STANLEY | MS | $524.7K | 2,790 | -0.01pp | 8q | HELD | |
| QUANTA SVCS INC | PWR | $514.5K | 801 | -0.01pp | 9q | HELD | |
| SPDR SERIES TRUST | KBE | $512.2K | 8,101 | -0.01pp | 32q | -13.5%-$80.0K | |
| CISCO SYS INC | CSCO | $507.8K | 4,718 | flat | 32q | HELD | |
| ALLSTATE CORP | ALL | $498.2K | 2,246 | flat | 26q | HELD | |
| METLIFE INC | MET | $495.4K | 5,262 | flat | 24q | -1.0%-$5.1K | |
| VANGUARD INDEX FDS | VV | $490.7K | 1,395 | flat | 31q | HELD | |
| NORFOLK SOUTHN CORP | NSC | $488.2K | 1,580 | flat | 32q | -6.2%-$32.4K | |
| AMGEN INC | AMGN | $469.6K | 1,114 | +0.01pp | 32q | HELD | |
| ISHARES TR | IXUS | $469.4K | 4,942 | +0.01pp | 5q | +51.9%+$160.3K | |
| INTEL CORP | INTC | $466.1K | 3,877 | -0.01pp | 3q | -2.5%-$12.0K | |
| SELECT SECTOR SPDR TR | XLK | $461.6K | 2,358 | flat | 15q | HELD | |
| 46138J346 | $454.0K | 18,190 | - | new | NEW | ||
| MCKESSON CORP | MCK | $451.7K | 529 | -0.03pp | 24q | -50.0%-$452.5K | |
| ISHARES TR | IXN | $434.4K | 2,931 | flat | 12q | HELD | |
| CHENIERE ENERGY INC | LNG | $426.7K | 1,586 | flat | 6q | HELD | |
| WISDOMTREE TR | AIVL | $425.4K | 3,325 | flat | 32q | HELD | |
| INVESCO EXCH TRADED FD TR II | SPLV | $421.6K | 5,979 | -0.01pp | 32q | -9.1%-$42.0K | |
| ENBRIDGE INC | ENB | $419.4K | 9,022 | -0.01pp | 32q | -1.6%-$6.8K | |
| AT&T INC | T | $407.4K | 16,696 | flat | 32q | -9.4%-$42.3K | |
| SCHWAB STRATEGIC TR | SCHB | $406.4K | 13,864 | flat | 16q | HELD | |
| PRICE T ROWE GROUP INC | TROW | $392.2K | 3,769 | flat | 26q | HELD | |
| INVESCO EXCHANGE TRADED FD T | PHO | $386.7K | 5,701 | flat | 29q | HELD | |
| UNION PAC CORP | UNP | $375.8K | 1,381 | flat | 32q | -2.2%-$8.4K | |
| HOWMET AEROSPACE INC | HWM | $366.4K | 1,620 | -0.01pp | 5q | HELD | |
| ISHARES TR | IYH | $349.1K | 4,879 | flat | 32q | HELD | |
| DELL TECHNOLOGIES INC | DELL | $343.8K | 639 | +0.01pp | 2q | HELD | |
| ISHARES TR | IYK | $343.1K | 4,851 | flat | 32q | HELD | |
| NORTHERN TR CORP | NTRS | $338.7K | 2,000 | flat | 6q | HELD | |
| GOLDMAN SACHS GROUP INC | GS | $338.5K | 376 | flat | 5q | HELD | |
| ABBOTT LABORATORIES | ABT | $336.5K | 3,405 | flat | 14q | -1.4%-$4.9K | |
| PROSHARES TR | NOBL | $330.1K | 6,102 | flat | 25q | HELD | |
| VANGUARD WORLD FD | VPU | $329.6K | 1,928 | flat | 24q | HELD | |
| DEERE & CO | DE | $326.1K | 486 | flat | 7q | -1.2%-$4.0K | |
| PROSHARES TR | DOG | $325.7K | 14,626 | flat | 4q | +0.8%+$2.4K | |
| SPDR GOLD TR | GLD | $312.7K | 821 | flat | 10q | -7.6%-$25.9K | |
| DIMENSIONAL ETF TRUST | DFAC | $311.8K | 7,014 | flat | 11q | HELD | |
| PFIZER INC | PFE | $308.7K | 10,824 | flat | 32q | -2.8%-$8.8K | |
| SHELL PLC | SHEL | $307.7K | 3,237 | +0.01pp | 14q | HELD | |
| MARATHON PETE CORP | MPC | $304.9K | 771 | - | new | NEW | |
| SELECT SECTOR SPDR TR | XLY | $302.0K | 2,775 | flat | 15q | -5.9%-$18.9K | |
| US BANCORP | USB | $300.8K | 5,207 | flat | 5q | HELD | |
| DIMENSIONAL ETF TRUST | DFAU | $295.7K | 5,647 | flat | 16q | -4.9%-$15.1K | |
| ILLINOIS TOOL WKS INC | ITW | $290.6K | 1,129 | flat | 32q | HELD | |
| UNITED BANKSHARES INC WEST V | UBSI | $287.4K | 6,257 | flat | 12q | HELD | |
| CALAMOS CONV & HIGH INCOME F | CHY | $279.0K | 23,828 | flat | 32q | HELD | |
| MONOLITHIC PWR SYS INC | MPWR | $277.4K | 206 | flat | 3q | HELD | |
| BOEING CO | BA | $269.9K | 1,451 | flat | 16q | HELD | |
| ISHARES INC | ACWV | $263.3K | 2,145 | flat | 32q | HELD | |
| CARPENTER TECHNOLOGY CORP | CRS | $260.5K | 670 | -0.01pp | 4q | HELD | |
| VANGUARD INDEX FDS | VTV | $260.3K | 1,205 | flat | 2q | -12.0%-$35.4K | |
| CELESTICA INC | CLS | $260.2K | 720 | flat | 4q | HELD | |
| WELLTOWER INC | WELL | $257.9K | 1,120 | flat | 4q | HELD | |
| INVESCO EXCHANGE TRADED FD T | PRF | $253.6K | 4,660 | flat | 5q | HELD | |
| AUTOMATIC DATA PROCESSING IN | ADP | $246.2K | 954 | -0.01pp | 24q | -34.4%-$129.0K | |
| TEXAS INSTRS INC | TXN | $242.8K | 867 | flat | 2q | HELD | |
| SELECT SECTOR SPDR TR | XLE | $239.4K | 3,893 | flat | 3q | HELD | |
| ISHARES TR | EFAV | $234.5K | 2,574 | flat | 6q | HELD | |
| SHENANDOAH TELECOMMUNICATION | SHEN | $233.2K | 20,788 | -0.01pp | 32q | -13.9%-$37.6K | |
| BRISTOL-MYERS SQUIBB CO | BMY | $231.3K | 3,707 | flat | 32q | -12.9%-$34.2K | |
| STATE STR CORP | STT | $229.4K | 1,314 | flat | 2q | HELD | |
| BANK OF NY MELLON CORP | BNY | $226.5K | 1,566 | flat | 2q | HELD | |
| WASTE MGMT INC DEL | WM | $223.2K | 1,095 | flat | 24q | HELD | |
| QNITY ELECTRONICS INC | Q | $223.2K | 1,775 | -0.01pp | 3q | -3.0%-$6.9K | |
| SCHWAB STRATEGIC TR | SCHO | $222.9K | 9,343 | -0.01pp | 11q | -21.4%-$60.8K | |
| SELECT SECTOR SPDR TR | XLC | $221.7K | 1,998 | flat | 6q | HELD | |
| BURKE HERBERT FINL SVCS CORP | BHRB | $220.8K | 3,218 | flat | 4q | HELD | |
| SELECT SECTOR SPDR TR | XLF | $219.8K | 4,116 | flat | 7q | HELD | |
| GABELLI EQUITY TR INC | GAB | $216.0K | 41,224 | flat | 32q | HELD | |
| ISHARES TR | ESGU | $213.3K | 1,279 | flat | 24q | -11.4%-$27.5K | |
| DANAHER CORP DEL | DHR | $208.3K | 940 | - | new | NEW | |
| THERMO FISHER SCIENTIFIC INC | TMO | $207.9K | 308 | - | new | NEW | |
| AIR PRODUCTS AND CHEMICALS I | APD | $206.3K | 741 | -0.01pp | 32q | -37.5%-$123.9K | |
| MOTOROLA SOLUTIONS INC | MSI | $203.4K | 456 | - | new | NEW | |
| DIMENSIONAL ETF TRUST | DFSI | $202.2K | 4,476 | -0.01pp | 7q | -26.0%-$71.1K | |
| AMERIPRISE FINL INC | AMP | $200.4K | 407 | flat | 12q | -9.6%-$21.2K | |
| ROYCE SMALL CAP TRUST INC | RVT | $175.6K | 10,253 | flat | 32q | HELD | |
| KKR INCOME OPPORTUNITIES FD | KIO | $141.4K | 13,728 | flat | 32q | HELD | |
| BLACKSTONE STRATEGIC CRED 20 | BGB | $112.4K | 10,000 | flat | 32q | HELD | |
| LIBERTY ALL STAR EQUITY FD | USA | $86.5K | 15,000 | flat | 29q | HELD | |
| PUTNAM MASTER INTER INCOME T | PIM | $43.2K | 14,300 | flat | 32q | 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 |
|---|---|---|
| Insurance | $43.5M | 4.1% |
| Software & IT Services | $37.4M | 3.5% |
| Computer Hardware | $35.3M | 3.3% |
| Banks & Lending | $18.2M | 1.7% |
| Other sectors | $87.0M | 8.1% |
| Not classified | $846.9M | 79.3% |
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 |
|---|---|---|---|---|
| Q2 2026 | +7.9% | +14.8% | -6.9% | 100% |
| Q1 2026 | -0.3% | -4.6% | +4.3% | 100% |
| Q4 2025 | +1.9% | +2.4% | -0.4% | 100% |
| Q3 2025 | +5.5% | +7.8% | -2.4% | 100% |
| Q2 2025 | +3.1% | +10.5% | -7.3% | 100% |
| Q1 2025 | +0.1% | -4.6% | +4.6% | 100% |
| Q4 2024 | -1.9% | +2.1% | -4.0% | 100% |
| Q3 2024 | +5.9% | +5.4% | +0.5% | 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 | $1.1B | 196 | 6 | 15 | 97 | 13 | 46.9% | 9 |
| Q2 2026 | $1.1B | 203 | 10 | 54 | 45 | 4 | 46.9% | 7 |
| Q1 2026 | $961.1M | 197 | 8 | 25 | 54 | 2 | 47.7% | 8 |
| Q4 2025 | $942.9M | 191 | 8 | 33 | 58 | 10 | 47.6% | 9 |
| Q3 2025 | $901.1M | 193 | 8 | 45 | 56 | 7 | 47.6% | 7 |
| Q2 2025 | $840.4M | 192 | 10 | 28 | 59 | 5 | 47.2% | 9 |
| Q1 2025 | $814.7M | 187 | 7 | 38 | 46 | 5 | 47.9% | 9 |
| Q4 2024 | $804.4M | 185 | 4 | 32 | 46 | 10 | 47.0% | 14 |
| Q3 2024 | $813.1M | 191 | 13 | 14 | 84 | 4 | 47.6% | 45 |
| Q2 2024 | $874.3M | 182 | 3 | 38 | 45 | 6 | 46.5% | 45 |
| Q1 2024 | $863.1M | 185 | 6 | 29 | 73 | 2 | 46.9% | 43 |
| Q4 2023 | $805.0M | 181 | 8 | 28 | 54 | 4 | 45.9% | 134 |
| Q3 2023 | $736.3M | 177 | 4 | 26 | 59 | 13 | 47.2% | 44 |
| Q2 2023 | $740.3M | 186 | 19 | 67 | 23 | 22 | 42.9% | 45 |
| Q1 2023 | $645.9M | 189 | 28 | 32 | 43 | 8 | 45.2% | 45 |
| Q4 2022 | $650.1M | 169 | 14 | 33 | 60 | 14 | 41.4% | 45 |
| Q3 2022 | $599.8M | 169 | 0 | 32 | 51 | 433 | 41.6% | 45 |
| Q2 2022 | $655.1M | 602 | 14 | 43 | 135 | 72 | 39.7% | 46 |
| Q1 2022 | $716.7M | 660 | 18 | 60 | 118 | 75 | 38.4% | 43 |
| Q4 2021 | $703.3M | 717 | 49 | 113 | 68 | 43 | 37.6% | 45 |
| Q3 2021 | $633.2M | 711 | 41 | 93 | 82 | 42 | 37.8% | 46 |
| Q2 2021 | $623.6M | 712 | 20 | 72 | 158 | 22 | 37.8% | 12 |
| Q1 2021 | $583.5M | 714 | 38 | 123 | 83 | 22 | 37.4% | 9 |
| Q4 2020 | $536.3M | 698 | 530 | 40 | 60 | 1 | 38.1% | 35 |
| Q3 2020 | $452.0M | 169 | 9 | 30 | 41 | 4 | 41.4% | 41 |
| Q2 2020 | $426.7M | 164 | 18 | 34 | 47 | 10 | 40.0% | 31 |
| Q1 2020 | $371.0M | 156 | 2 | 39 | 42 | 28 | 39.3% | 29 |
| Q4 2019 | $475.7M | 182 | 8 | 37 | 35 | 4 | 35.4% | 21 |
| Q3 2019 | $453.2M | 178 | 23 | 71 | 23 | 7 | 35.0% | 43 |
| Q2 2019 | $417.9M | 162 | 8 | 72 | 12 | 4 | 35.9% | 1,779 |
| Q1 2019 | $392.6M | 158 | 22 | 72 | 27 | 16 | 36.6% | 1,867 |
| Q4 2018 | $340.8M | 152 | 0 | 0 | 0 | 0 | 37.5% | 28 |
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.