# Derbend Asset Management

> Institutional holdings reported to the SEC as of Q1 2024 on Form 13F. CIK 1874068. Source: https://holderbook.com/funds/1874068-derbend-asset-management/

- Reported value: $203.0M
- Positions: 114
- Weight of the ten largest: 52.1%
- Filed: 2024-04-30

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 |
|---|---|---|---|---|---|
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $22.2M | 263,331 | 11.0% | 3 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $14.2M | 244,754 | 7.0% | 11 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $13.8M | 73,731 | 6.8% | 3 |
| J P MORGAN EXCHANGE TRADED F | [JEPQ](https://holderbook.com/stocks/JEPQ/) | $10.8M | 198,430 | 5.3% | 8 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $8.8M | 53,243 | 4.3% | 3 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $8.4M | 49,646 | 4.1% | 12 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $8.4M | 48,722 | 4.1% | 12 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $7.9M | 145,266 | 3.9% | 3 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $5.7M | 6,334 | 2.8% | 12 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $5.7M | 54,491 | 2.8% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.1M | 12,090 | 2.5% | 12 |
| ISHARES TR | [IXC](https://holderbook.com/stocks/IXC/) | $4.4M | 103,329 | 2.2% | 12 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $3.7M | 20,861 | 1.8% | 12 |
| ISHARES TR | [IYW](https://holderbook.com/stocks/IYW/) | $3.5M | 25,824 | 1.7% | 3 |
| BLACKROCK ETF TRUST | [DYNF](https://holderbook.com/stocks/DYNF/) | $3.3M | 74,077 | 1.6% | 1 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $3.0M | 6,340 | 1.5% | 7 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $2.7M | 6,753 | 1.3% | 12 |
| ISHARES TR | [OEF](https://holderbook.com/stocks/OEF/) | $2.6M | 10,655 | 1.3% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.4M | 13,106 | 1.2% | 12 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.3M | 8,178 | 1.1% | 12 |
| ISHARES INC | [EMXC](https://holderbook.com/stocks/EMXC/) | $2.1M | 36,722 | 1.0% | 2 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $2.0M | 5,836 | 1.0% | 7 |
| SPDR SERIES TRUST | [SPTL](https://holderbook.com/stocks/SPTL/) | $1.9M | 67,451 | 0.9% | 3 |
| SPDR SERIES TRUST | [SPMB](https://holderbook.com/stocks/SPMB/) | $1.8M | 82,986 | 0.9% | 3 |
| ISHARES TR | [IDU](https://holderbook.com/stocks/IDU/) | $1.7M | 20,626 | 0.9% | 2 |
| ISHARES TR | [IFRA](https://holderbook.com/stocks/IFRA/) | $1.6M | 35,950 | 0.8% | 3 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $1.5M | 18,200 | 0.7% | 2 |
| ISHARES TR | [IBB](https://holderbook.com/stocks/IBB/) | $1.5M | 10,586 | 0.7% | 3 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $1.4M | 14,579 | 0.7% | 12 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $1.4M | 19,628 | 0.7% | 12 |
| NEOS ETF TRUST | [SPYI](https://holderbook.com/stocks/SPYI/) | $1.3M | 26,775 | 0.7% | 2 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $1.3M | 5,685 | 0.6% | 12 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $1.2M | 23,234 | 0.6% | 3 |
| INVESCO EXCH TRADED FD TR II | [SPLV](https://holderbook.com/stocks/SPLV/) | $1.2M | 17,671 | 0.6% | 3 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $1.2M | 10,706 | 0.6% | 3 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $1.1M | 7,233 | 0.6% | 12 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $1.1M | 2,864 | 0.5% | 12 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.1M | 5,398 | 0.5% | 12 |
| ISHARES TR | [HEFA](https://holderbook.com/stocks/HEFA/) | $1.1M | 30,561 | 0.5% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.0M | 5,738 | 0.5% | 12 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $1.0M | 4,138 | 0.5% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.0M | 6,684 | 0.5% | 12 |
| SCHWAB STRATEGIC TR | [SCHZ](https://holderbook.com/stocks/SCHZ/) | $906.8K | 19,714 | 0.4% | 1 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $880.6K | 14,635 | 0.4% | 12 |
| ISHARES TR | [ILCV](https://holderbook.com/stocks/ILCV/) | $873.2K | 11,361 | 0.4% | 3 |
| ISHARES TR | [TFLO](https://holderbook.com/stocks/TFLO/) | $844.4K | 16,659 | 0.4% | 3 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $844.3K | 1,901 | 0.4% | 12 |
| PLAINS ALL AMERN PIPELINE L | [PAA](https://holderbook.com/stocks/PAA/) | $833.9K | 47,487 | 0.4% | 12 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $789.4K | 34,305 | 0.4% | 12 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $765.1K | 2,088 | 0.4% | 12 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $762.2K | 11,378 | 0.4% | 12 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $727.2K | 3,981 | 0.4% | 12 |
| ISHARES TR | [IVLU](https://holderbook.com/stocks/IVLU/) | $707.8K | 25,072 | 0.3% | 2 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $705.7K | 5,833 | 0.3% | 7 |
| VANGUARD WORLD FD | [VDE](https://holderbook.com/stocks/VDE/) | $701.7K | 5,328 | 0.3% | 3 |
| FIRST TR EXCHANGE-TRADED FD | [FVD](https://holderbook.com/stocks/FVD/) | $691.6K | 16,376 | 0.3% | 2 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $687.0K | 10,749 | 0.3% | 12 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $675.1K | 2,598 | 0.3% | 12 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $663.3K | 5,707 | 0.3% | 12 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $660.6K | 1,571 | 0.3% | 1 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $640.6K | 3,354 | 0.3% | 12 |
| FIRST TR EXCHANGE-TRADED FD | [RDVI](https://holderbook.com/stocks/RDVI/) | $628.1K | 25,657 | 0.3% | 4 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $625.8K | 8,651 | 0.3% | 5 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $618.9K | 5,762 | 0.3% | 12 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $591.4K | 14,095 | 0.3% | 12 |
| VANGUARD INDEX FDS | [VBK](https://holderbook.com/stocks/VBK/) | $589.7K | 2,262 | 0.3% | 7 |
| FIRST TR EXCHANGE-TRADED FD | [FTSM](https://holderbook.com/stocks/FTSM/) | $588.2K | 9,865 | 0.3% | 12 |
| ISHARES TR | [IEV](https://holderbook.com/stocks/IEV/) | $588.1K | 10,564 | 0.3% | 3 |
| AKAMAI TECHNOLOGIES INC | [AKAM](https://holderbook.com/stocks/AKAM/) | $577.0K | 5,305 | 0.3% | 12 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $574.2K | 1,098 | 0.3% | 2 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $565.3K | 2,946 | 0.3% | 7 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $514.3K | 2,500 | 0.3% | 12 |
| INVESCO EXCHANGE TRADED FD T | [RSPU](https://holderbook.com/stocks/RSPU/) | $504.9K | 8,921 | 0.2% | 1 |
| FIRST TR EXCHANGE TRADED FD | [SKYY](https://holderbook.com/stocks/SKYY/) | $473.0K | 4,948 | 0.2% | 12 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $465.3K | 5,190 | 0.2% | 3 |
| BLACKROCK ETF TRUST II | [BINC](https://holderbook.com/stocks/BINC/) | $440.3K | 8,394 | 0.2% | 1 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $433.8K | 2,874 | 0.2% | 4 |
| PACER FDS TR | [COWZ](https://holderbook.com/stocks/COWZ/) | $425.7K | 7,327 | 0.2% | 2 |
| DOMINION ENERGY INC | [D](https://holderbook.com/stocks/D/) | $414.3K | 8,422 | 0.2% | 12 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $402.2K | 2,543 | 0.2% | 12 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $391.8K | 22,264 | 0.2% | 12 |
| WORLD GOLD TR | [GLDM](https://holderbook.com/stocks/GLDM/) | $381.1K | 8,652 | 0.2% | 8 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $379.1K | 552 | 0.2% | 12 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $376.9K | 2,323 | 0.2% | 12 |
| NEOS ETF TRUST | [CSHI](https://holderbook.com/stocks/CSHI/) | $373.9K | 7,509 | 0.2% | 2 |
| FIRST TR EXCHANGE-TRADED FD | [EMLP](https://holderbook.com/stocks/EMLP/) | $343.9K | 11,645 | 0.2% | 12 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $339.2K | 2,296 | 0.2% | 1 |
| THE TRADE DESK INC | [TTD](https://holderbook.com/stocks/TTD/) | $334.4K | 3,825 | 0.2% | 5 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $331.6K | 21,083 | 0.2% | 3 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $309.7K | 589 | 0.2% | 1 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $304.4K | 6,067 | 0.1% | 3 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $300.8K | 2,280 | 0.1% | 1 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $299.7K | 5,196 | 0.1% | 12 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $283.9K | 10,232 | 0.1% | 12 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $283.9K | 1,242 | 0.1% | 12 |
| ISHARES TR | [IYH](https://holderbook.com/stocks/IYH/) | $276.3K | 4,463 | 0.1% | 3 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $274.6K | 1,549 | 0.1% | 2 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $273.9K | 3,278 | 0.1% | 12 |
| DUPONT DE NEMOURS INC | [DD](https://holderbook.com/stocks/DD/) | $266.8K | 3,480 | 0.1% | 12 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $266.0K | 2,811 | 0.1% | 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 2024 | +7.7% | +10.0% | -2.3% | 100% |
| Q4 2023 | +8.4% | +11.2% | -2.8% | 100% |
| Q3 2023 | -3.9% | -3.6% | -0.4% | 100% |
| Q2 2023 | +5.6% | +8.3% | -2.7% | 100% |
| Q1 2023 | +6.3% | +7.0% | -0.7% | 100% |
| Q4 2022 | +3.0% | +7.1% | -4.0% | 100% |
| Q3 2022 | -5.1% | -5.3% | +0.2% | 100% |
| Q2 2022 | -15.5% | -16.5% | +1.0% | 97% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2024 | $203.0M | 114 |
| Q4 2023 | $172.6M | 103 |
| Q3 2023 | $146.8M | 96 |
| Q2 2023 | $147.9M | 81 |
| Q1 2023 | $133.5M | 76 |
| Q4 2022 | $125.3M | 76 |
| Q3 2022 | $125.7M | 81 |
| Q2 2022 | $119.8M | 69 |
| Q1 2022 | $102.4M | 85 |
| Q4 2021 | $102.4M | 84 |
| Q3 2021 | $106.4M | 87 |
| Q2 2021 | $107.3M | 87 |