# SYNTAX RESEARCH, INC.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1999827. Source: https://holderbook.com/funds/1999827-syntax-research-inc/

- Reported value: $136.9M
- Positions: 179
- Weight of the ten largest: 65.6%
- Filed: 2026-07-31

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 | [IVV](https://holderbook.com/stocks/IVV/) | $13.7M | 18,266 | 10.0% | 12 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $13.3M | 141,033 | 9.7% | 12 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $12.6M | 153,197 | 9.2% | 12 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $10.9M | 113,288 | 8.0% | 12 |
| PROSHARES TR | [NOBL](https://holderbook.com/stocks/NOBL/) | $9.4M | 167,585 | 6.9% | 12 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $8.4M | 38,180 | 6.1% | 12 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $8.3M | 28,793 | 6.1% | 12 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $4.9M | 32,925 | 3.6% | 12 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $4.7M | 61,492 | 3.5% | 12 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.5M | 9,868 | 2.5% | 12 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $2.9M | 26,416 | 2.1% | 12 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.6M | 7,806 | 1.9% | 12 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.6M | 6,845 | 1.9% | 12 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.5M | 3,364 | 1.8% | 12 |
| ISHARES TR | [IEUR](https://holderbook.com/stocks/IEUR/) | $2.2M | 29,559 | 1.6% | 12 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $2.2M | 5,760 | 1.6% | 12 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $2.0M | 14,000 | 1.4% | 12 |
| ISHARES TR | [ACWX](https://holderbook.com/stocks/ACWX/) | $1.7M | 22,434 | 1.2% | 12 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $1.1M | 2,210 | 0.8% | 12 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $1.1M | 5,857 | 0.8% | 12 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $1.1M | 7,881 | 0.8% | 12 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.0M | 4,215 | 0.7% | 12 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $957.4K | 4,423 | 0.7% | 12 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $949.6K | 5,590 | 0.7% | 6 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $888.0K | 5,357 | 0.6% | 12 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $836.0K | 3,366 | 0.6% | 2 |
| ISHARES TR | [VLUE](https://holderbook.com/stocks/VLUE/) | $832.1K | 4,164 | 0.6% | 12 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $796.4K | 12,664 | 0.6% | 12 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $791.1K | 4,836 | 0.6% | 12 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $789.3K | 2,209 | 0.6% | 12 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $787.0K | 3,564 | 0.6% | 1 |
| LEIDOS HOLDINGS INC | [LDOS](https://holderbook.com/stocks/LDOS/) | $765.9K | 7,438 | 0.6% | 1 |
| TAKE-TWO INTERACTIVE SOFTWAR | [TTWO](https://holderbook.com/stocks/TTWO/) | $681.2K | 2,725 | 0.5% | 4 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $644.7K | 2,314 | 0.5% | 1 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $626.8K | 1,991 | 0.5% | 2 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $613.4K | 3,416 | 0.4% | 3 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $602.6K | 818 | 0.4% | 12 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $595.4K | 1,462 | 0.4% | 1 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $582.0K | 1,219 | 0.4% | 12 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $533.8K | 1,048 | 0.4% | 12 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $530.4K | 552 | 0.4% | 7 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $506.4K | 1,012 | 0.4% | 12 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $488.6K | 1,424 | 0.4% | 12 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $469.0K | 3,200 | 0.3% | 6 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $463.4K | 1,252 | 0.3% | 8 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $366.7K | 392 | 0.3% | 12 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $355.7K | 492 | 0.3% | 12 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $348.9K | 1,839 | 0.3% | 12 |
| TERADYNE INC | [TER](https://holderbook.com/stocks/TER/) | $331.2K | 685 | 0.2% | 4 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $309.7K | 5,436 | 0.2% | 12 |
| ALPHABET INC | - | $299.3K | 5,950 | 0.2% | 1 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $267.4K | 854 | 0.2% | 12 |
| VANGUARD INDEX FDS | [VOT](https://holderbook.com/stocks/VOT/) | $256.4K | 837 | 0.2% | 12 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $243.1K | 689 | 0.2% | 12 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $231.8K | 1,973 | 0.2% | 12 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $199.6K | 2,200 | 0.1% | 2 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $183.0K | 773 | 0.1% | 12 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $177.5K | 1,381 | 0.1% | 12 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $176.2K | 1,886 | 0.1% | 12 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $168.9K | 2,350 | 0.1% | 5 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $168.3K | 2,036 | 0.1% | 12 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $167.9K | 140 | 0.1% | 12 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $167.2K | 1,700 | 0.1% | 12 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $152.8K | 245 | 0.1% | 12 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $143.8K | 135 | 0.1% | 12 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $143.1K | 1,150 | 0.1% | 5 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $125.0K | 1,750 | 0.1% | 12 |
| CONSOLIDATED EDISON INC | [ED](https://holderbook.com/stocks/ED/) | $123.2K | 1,114 | 0.1% | 12 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $118.5K | 4,325 | 0.1% | 12 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $113.1K | 2,650 | 0.1% | 1 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $109.6K | 1,054 | 0.1% | 8 |
| PHILLIPS EDISON & CO INC | [PECO](https://holderbook.com/stocks/PECO/) | $105.2K | 2,527 | 0.1% | 12 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $95.9K | 225 | 0.1% | 12 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $95.8K | 170 | 0.1% | 12 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $93.1K | 1,737 | 0.1% | 12 |
| MEDLINE INC | [MDLN](https://holderbook.com/stocks/MDLN/) | $88.7K | 2,250 | 0.1% | 1 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $87.5K | 290 | 0.1% | 12 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $86.2K | 205 | 0.1% | 12 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $85.8K | 237 | 0.1% | 12 |
| HEWLETT PACKARD ENTERPRISE C | [HPE](https://holderbook.com/stocks/HPE/) | $85.6K | 1,897 | 0.1% | 12 |
| GLOBUS MED INC | [GMED](https://holderbook.com/stocks/GMED/) | $79.0K | 1,000 | 0.1% | 12 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $76.1K | 500 | 0.1% | 3 |
| ARM HOLDINGS PLC | [ARM](https://holderbook.com/stocks/ARM/) | $70.9K | 200 | 0.1% | 2 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $70.6K | 804 | 0.1% | 12 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $70.1K | 490 | 0.1% | 4 |
| DARDEN RESTAURANTS INC | [DRI](https://holderbook.com/stocks/DRI/) | $69.4K | 337 | 0.1% | 12 |
| FEDEX FGHT HLDG CO INC | - | $64.2K | 425 | 0.0% | 1 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $62.9K | 803 | 0.0% | 12 |
| ISHARES TR | [IWO](https://holderbook.com/stocks/IWO/) | $57.5K | 146 | 0.0% | 12 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $54.9K | 356 | 0.0% | 12 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $54.0K | 1,162 | 0.0% | 8 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $52.1K | 260 | 0.0% | 8 |
| ISHARES TR | [IYF](https://holderbook.com/stocks/IYF/) | $51.5K | 404 | 0.0% | 12 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $48.3K | 190 | 0.0% | 12 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $44.1K | 1,798 | 0.0% | 12 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $41.6K | 1,897 | 0.0% | 12 |
| FIDELITY WISE ORIGIN BITCOIN | [FBTC](https://holderbook.com/stocks/FBTC/) | $40.1K | 785 | 0.0% | 1 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $39.5K | 177 | 0.0% | 1 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $39.1K | 129 | 0.0% | 12 |
| CLOROX CO DEL | [CLX](https://holderbook.com/stocks/CLX/) | $38.2K | 400 | 0.0% | 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 |
|---|---|---|---|---|
| Q2 2026 | +15.5% | +14.8% | +0.7% | 100% |
| Q1 2026 | -1.4% | -4.6% | +3.3% | 100% |
| Q4 2025 | +3.5% | +2.4% | +1.2% | 100% |
| Q3 2025 | +8.0% | +7.8% | +0.1% | 100% |
| Q2 2025 | +5.8% | +10.5% | -4.6% | 100% |
| Q1 2025 | -0.1% | -4.6% | +4.5% | 100% |
| Q4 2024 | -3.8% | +2.1% | -5.9% | 100% |
| Q3 2024 | +7.0% | +5.4% | +1.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $136.9M | 179 |
| Q1 2026 | $157.1M | 174 |
| Q4 2025 | $162.1M | 173 |
| Q3 2025 | $155.6M | 173 |
| Q2 2025 | $140.8M | 171 |
| Q1 2025 | $144.8M | 175 |
| Q4 2024 | $139.5M | 183 |
| Q3 2024 | $148.0M | 189 |
| Q2 2024 | $126.4M | 174 |
| Q1 2024 | $131.0M | 170 |
| Q4 2023 | $119.5M | 175 |
| Q3 2023 | $123.5M | 178 |