# Sheets Smith Investment Management

> Institutional holdings reported to the SEC as of Q3 2025 on Form 13F. CIK 1785199. Source: https://holderbook.com/funds/1785199-sheets-smith-investment-management/

- Reported value: $154.2M
- Positions: 137
- Weight of the ten largest: 27.6%
- Filed: 2025-10-08

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 |
|---|---|---|---|---|---|
| J P MORGAN EXCHANGE TRADED F | [JEPQ](https://holderbook.com/stocks/JEPQ/) | $11.9M | 207,747 | 7.8% | 2 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $4.0M | 43,460 | 2.6% | 1 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $4.0M | 5,501 | 2.6% | 4 |
| PUTNAM MASTER INTER INCOME T | [PIM](https://holderbook.com/stocks/PIM/) | $3.8M | 1,102,294 | 2.5% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.7M | 19,655 | 2.4% | 4 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $3.3M | 38,740 | 2.1% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.2M | 14,556 | 2.1% | 4 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $3.0M | 15,245 | 1.9% | 4 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $3.0M | 16,398 | 1.9% | 4 |
| NEW GOLD INC CDA | [NGD](https://holderbook.com/stocks/NGD/) | $2.8M | 383,242 | 1.8% | 2 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $2.4M | 46,416 | 1.6% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.4M | 4,550 | 1.5% | 2 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $2.3M | 22,697 | 1.5% | 2 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $2.3M | 14,111 | 1.5% | 2 |
| PAN AMERN SILVER CORP | [PAAS](https://holderbook.com/stocks/PAAS/) | $2.3M | 58,932 | 1.5% | 2 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $2.3M | 7,558 | 1.5% | 3 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $2.2M | 28,038 | 1.5% | 5 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $2.2M | 3,605 | 1.4% | 4 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $2.1M | 897 | 1.4% | 3 |
| BARCLAYS PLC | [BCS](https://holderbook.com/stocks/BCS/) | $2.0M | 95,470 | 1.3% | 2 |
| DOORDASH INC | [DASH](https://holderbook.com/stocks/DASH/) | $2.0M | 7,208 | 1.3% | 2 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $2.0M | 23,231 | 1.3% | 1 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $1.9M | 23,229 | 1.3% | 2 |
| CONSTRUCTION PARTNERS INC | [ROAD](https://holderbook.com/stocks/ROAD/) | $1.9M | 15,230 | 1.3% | 2 |
| FIRSTCASH HOLDINGS INC | [FCFS](https://holderbook.com/stocks/FCFS/) | $1.8M | 11,455 | 1.2% | 2 |
| BANCORP INC DEL | [TBBK](https://holderbook.com/stocks/TBBK/) | $1.8M | 23,985 | 1.2% | 7 |
| AMERICAN PUB ED INC | [APEI](https://holderbook.com/stocks/APEI/) | $1.8M | 45,413 | 1.2% | 2 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $1.8M | 18,668 | 1.2% | 2 |
| NATIONAL FUEL GAS CO | [NFG](https://holderbook.com/stocks/NFG/) | $1.8M | 19,271 | 1.2% | 2 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.8M | 7,195 | 1.1% | 1 |
| GRAIL INC | [GRAL](https://holderbook.com/stocks/GRAL/) | $1.7M | 28,558 | 1.1% | 1 |
| GUIDEWIRE SOFTWARE INC | [GWRE](https://holderbook.com/stocks/GWRE/) | $1.7M | 7,323 | 1.1% | 2 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $1.7M | 5,917 | 1.1% | 2 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $1.6M | 47,215 | 1.1% | 1 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $1.6M | 1,367 | 1.1% | 4 |
| CARPENTER TECHNOLOGY CORP | [CRS](https://holderbook.com/stocks/CRS/) | $1.6M | 6,664 | 1.1% | 4 |
| IBEX LTD | [IBEX](https://holderbook.com/stocks/IBEX/) | $1.6M | 39,297 | 1.0% | 2 |
| FORTUNA MNG CORP | [FSM](https://holderbook.com/stocks/FSM/) | $1.5M | 166,059 | 1.0% | 1 |
| CARVANA CO | [CVNA](https://holderbook.com/stocks/CVNA/) | $1.5M | 3,915 | 1.0% | 2 |
| US FOODS HLDG CORP | [USFD](https://holderbook.com/stocks/USFD/) | $1.4M | 18,880 | 0.9% | 4 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $1.4M | 8,032 | 0.9% | 3 |
| OKLO INC | [OKLO](https://holderbook.com/stocks/OKLO/) | $1.4M | 12,622 | 0.9% | 2 |
| ESCO TECHNOLOGIES INC | [ESE](https://holderbook.com/stocks/ESE/) | $1.4M | 6,673 | 0.9% | 2 |
| SNOWFLAKE INC | [SNOW](https://holderbook.com/stocks/SNOW/) | $1.4M | 6,142 | 0.9% | 2 |
| ARIS MINING CORPORATION | [ARIS](https://holderbook.com/stocks/ARIS/) | $1.4M | 137,890 | 0.9% | 1 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $1.3M | 2,201 | 0.9% | 1 |
| MONOLITHIC PWR SYS INC | [MPWR](https://holderbook.com/stocks/MPWR/) | $1.3M | 1,451 | 0.9% | 1 |
| INSULET CORP | [PODD](https://holderbook.com/stocks/PODD/) | $1.3M | 4,260 | 0.9% | 4 |
| BANC OF CALIFORNIA INC | [BANC](https://holderbook.com/stocks/BANC/) | $1.3M | 79,250 | 0.9% | 1 |
| JBT MAREL CORPORATION | [JBTM](https://holderbook.com/stocks/JBTM/) | $1.3M | 9,086 | 0.8% | 1 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.2M | 2,192 | 0.8% | 2 |
| PALOMAR HLDGS INC | [PLMR](https://holderbook.com/stocks/PLMR/) | $1.2M | 10,567 | 0.8% | 4 |
| ANAVEX LIFE SCIENCES CORP | [AVXL](https://holderbook.com/stocks/AVXL/) | $1.2M | 135,948 | 0.8% | 1 |
| PENUMBRA INC | [PEN](https://holderbook.com/stocks/PEN/) | $1.1M | 4,407 | 0.7% | 3 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.1M | 1,587 | 0.7% | 1 |
| INTERCORP FINL SVCS INC | [IFS](https://holderbook.com/stocks/IFS/) | $1.0M | 25,829 | 0.7% | 2 |
| ERO COPPER CORP | [ERO](https://holderbook.com/stocks/ERO/) | $988.4K | 48,857 | 0.6% | 1 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $986.6K | 61,621 | 0.6% | 1 |
| EASTERN BANKSHARES INC | [EBC](https://holderbook.com/stocks/EBC/) | $985.1K | 54,273 | 0.6% | 1 |
| XOMETRY INC | [XMTR](https://holderbook.com/stocks/XMTR/) | $962.9K | 17,678 | 0.6% | 1 |
| TECHNIPFMC PLC | [FTI](https://holderbook.com/stocks/FTI/) | $956.7K | 24,252 | 0.6% | 1 |
| JOURNEY MED CORP | [DERM](https://holderbook.com/stocks/DERM/) | $946.3K | 132,904 | 0.6% | 1 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $908.0K | 1,190 | 0.6% | 1 |
| MASTEC INC | [MTZ](https://holderbook.com/stocks/MTZ/) | $853.6K | 4,011 | 0.6% | 1 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $760.1K | 2,304 | 0.5% | 1 |
| BLACKROCK ENHANCED EQUITY DI | [BDJ](https://holderbook.com/stocks/BDJ/) | $723.6K | 79,426 | 0.5% | 1 |
| NUSCALE PWR CORP | [SMR](https://holderbook.com/stocks/SMR/) | $709.3K | 19,704 | 0.5% | 2 |
| PROSHARES TR | [PSQ](https://holderbook.com/stocks/PSQ/) | $669.5K | 21,568 | 0.4% | 1 |
| KINIKSA PHARMACEUTICALS INTL | [KNSA](https://holderbook.com/stocks/KNSA/) | $659.8K | 16,992 | 0.4% | 1 |
| HAPPEN INC | [HAPN](https://holderbook.com/stocks/HAPN/) | $659.8K | 43,435 | 0.4% | 1 |
| VIAVI SOLUTIONS INC | [VIAV](https://holderbook.com/stocks/VIAV/) | $657.9K | 51,847 | 0.4% | 1 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $656.1K | 6,091 | 0.4% | 1 |
| PRIVIA HEALTH GROUP INC | [PRVA](https://holderbook.com/stocks/PRVA/) | $654.5K | 26,284 | 0.4% | 1 |
| SANDSTORM GOLD LTD | [SAND](https://holderbook.com/stocks/SAND/) | $653.9K | 52,228 | 0.4% | 1 |
| CENTURY ALUM CO | [CENX](https://holderbook.com/stocks/CENX/) | $651.7K | 22,196 | 0.4% | 1 |
| AMERICAN HEALTHCARE REIT INC | [AHR](https://holderbook.com/stocks/AHR/) | $648.3K | 15,432 | 0.4% | 1 |
| NEOS ETF TRUST | [SPYI](https://holderbook.com/stocks/SPYI/) | $613.4K | 11,729 | 0.4% | 1 |
| VERU INC | [VERUXXXX](https://holderbook.com/stocks/VERUXXXX/) | $612.0K | 161,042 | 0.4% | 4 |
| VERU INC | [VERU](https://holderbook.com/stocks/VERU/) | $612.0K | 161,042 | 0.4% | 1 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $595.7K | 2,760 | 0.4% | 1 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $589.2K | 10,318 | 0.4% | 1 |
| GOLDMAN SACHS ETF TR | [GBIL](https://holderbook.com/stocks/GBIL/) | $553.6K | 5,523 | 0.4% | 6 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $543.4K | 4,370 | 0.4% | 1 |
| PROSHARES TR | [SH](https://holderbook.com/stocks/SH/) | $526.9K | 14,257 | 0.3% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $520.0K | 2,246 | 0.3% | 1 |
| AXON ENTERPRISE INC | [AXON](https://holderbook.com/stocks/AXON/) | $509.5K | 710 | 0.3% | 1 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $504.5K | 6,150 | 0.3% | 1 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $484.6K | 1,903 | 0.3% | 1 |
| DIREXION SHARES ETF TRUST | [AMZU](https://holderbook.com/stocks/AMZU/) | $478.5K | 13,757 | 0.3% | 1 |
| GAP INC | [GAP](https://holderbook.com/stocks/GAP/) | $467.1K | 21,839 | 0.3% | 1 |
| TKO GROUP HOLDINGS INC | [TKO](https://holderbook.com/stocks/TKO/) | $454.6K | 2,251 | 0.3% | 1 |
| BAXTER INTL INC | [BAX](https://holderbook.com/stocks/BAX/) | $401.0K | 17,611 | 0.3% | 1 |
| FIRST TR HIGH YIELD OPPRT 20 | [FTHY](https://holderbook.com/stocks/FTHY/) | $398.7K | 27,515 | 0.3% | 1 |
| MEDIWOUND LTD | [MDWD](https://holderbook.com/stocks/MDWD/) | $362.0K | 20,090 | 0.2% | 1 |
| VIKING THERAPEUTICS INC | [VKTX](https://holderbook.com/stocks/VKTX/) | $351.2K | 13,364 | 0.2% | 1 |
| SPDR SERIES TRUST | [XAR](https://holderbook.com/stocks/XAR/) | $348.7K | 1,484 | 0.2% | 1 |
| DYNEX CAP INC | [DX](https://holderbook.com/stocks/DX/) | $337.0K | 27,422 | 0.2% | 1 |
| AEROVIRONMENT INC | [AVAV](https://holderbook.com/stocks/AVAV/) | $332.2K | 1,055 | 0.2% | 1 |
| ETON PHARMACEUTICALS INC | [ETON](https://holderbook.com/stocks/ETON/) | $322.5K | 14,842 | 0.2% | 1 |
| WENDYS CO | [WEN](https://holderbook.com/stocks/WEN/) | $308.9K | 33,725 | 0.2% | 1 |

## 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 |
|---|---|---|---|---|
| Q3 2025 | +6.7% | +7.8% | -1.1% | 100% |
| Q2 2025 | +9.4% | +10.5% | -1.1% | 100% |
| Q1 2025 | -4.4% | -4.6% | +0.2% | 100% |
| Q1 2023 | +0.5% | +7.0% | -6.5% | 98% |
| Q3 2022 | -0.5% | -5.3% | +4.9% | 95% |
| Q2 2022 | -16.8% | -16.5% | -0.4% | 99% |
| Q1 2022 | -9.4% | -4.9% | -4.5% | 100% |
| Q1 2021 | +1.9% | +6.0% | -4.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2025 | $154.2M | 137 |
| Q2 2025 | $113.9M | 71 |
| Q1 2025 | $100.3M | 42 |
| Q4 2024 | $118.0M | 57 |
| Q4 2022 | $91.3M | 28 |
| Q2 2022 | $86.0M | 29 |
| Q1 2022 | $81.3M | 37 |
| Q4 2021 | $140.8M | 58 |
| Q4 2020 | $110.8M | 58 |