SEEDS INVESTOR LLC

Reported holdings as of Q2 2026, from 11 quarterly filings.

CIK

2021047

Reported value

$973.3M

Positions

379

Top 10 weight

32.9%

Filed

2026-08-12

Days after quarter end

Holdings

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
VANGUARD INDEX FDS	VTI	$54.5M	147,295	5.60%	-0.96pp	9q	+4.7%+$2.5M
ISHARES TR	MUB	$49.9M	463,913	5.13%	-0.83pp	11q	+13.4%+$5.9M
VANGUARD INDEX FDS	VOO	$49.6M	72,166	5.09%	+0.19pp	11q	+27.9%+$10.8M
INVESCO QQQ TR	QQQ	$38.8M	52,680	3.99%	+3.68pp	9q	+1371.1%+$36.2M
STATE STR SPDR S&P 500 ETF T	SPY	$34.3M	45,947	3.53%	+2.20pp	9q	+227.4%+$23.8M
SPDR INDEX SHS FDS	SPDW	$20.3M	403,044	2.09%	-0.39pp	11q	+8.6%+$1.6M
VANGUARD CHARLOTTE FDS	BNDX	$20.2M	417,926	2.08%	-0.37pp	7q	+12.2%+$2.2M
VANGUARD WELLINGTON FD	VTES	$20.1M	198,242	2.06%	-0.61pp	7q	+2.1%+$419.2K
VANGUARD MUN BD FDS	VTEI	$16.5M	163,498	1.70%	-0.55pp	5q	HELD
APPLE INC	AAPL	$16.4M	56,790	1.69%	-0.06pp	11q	+14.5%+$2.1M
ISHARES TR	EUSB	$15.9M	366,740	1.64%	-0.57pp	11q	-1.0%-$163.5K
NVIDIA CORPORATION	NVDA	$13.9M	69,387	1.43%	-0.36pp	11q	+4.2%+$553.4K
DIMENSIONAL ETF TRUST	DFSB	$13.5M	258,358	1.38%	-0.44pp	7q	+0.6%+$73.7K
VANGUARD INTL EQUITY INDEX F	VEU	$13.0M	154,891	1.33%	-0.37pp	9q	HELD
ISHARES GOLD TR	IAU	$12.3M	162,857	1.26%	-0.42pp	8q	+19.9%+$2.0M
ISHARES TR	IUSB	$11.2M	242,729	1.15%	-0.53pp	2q	-8.6%-$1.1M
ISHARES TR	MBB	$11.1M	117,931	1.15%	-0.33pp	2q	+4.0%+$428.9K
SANDISK CORP	SNDK	$10.8M	4,731	1.11%	+1.06pp	2q	+1132.0%+$9.9M
SPDR SERIES TRUST	SPYX	$10.6M	173,168	1.09%	-0.01pp	5q	+21.6%+$1.9M
VANGUARD BD INDEX FDS	BIV	$10.4M	135,734	1.07%	-0.48pp	11q	-7.5%-$841.6K
ISHARES TR	IJH	$10.1M	130,566	1.03%	+0.24pp	11q	+59.3%+$3.7M
ISHARES TR	TFLO	$10.1M	198,773	1.03%	-0.11pp	8q	+19.3%+$1.6M
VANGUARD INDEX FDS	VUG	$9.7M	112,693	1.00%	+0.04pp	10q	+665.9%+$8.4M
J P MORGAN EXCHANGE TRADED F	JMSI	$8.9M	177,353	0.92%	-0.24pp	7q	+4.9%+$418.1K
ALPHABET INC	GOOG	$8.3M	23,383	0.85%	-0.15pp	9q	+5.7%+$448.0K
STATE STR SPDR S&P MIDCAP 40	MDY	$7.8M	11,075	0.80%	-0.26pp	9q	-7.0%-$584.5K
MICROSOFT CORP	MSFT	$7.5M	19,974	0.77%	-0.26pp	11q	+4.0%+$289.5K
SPDR SERIES TRUST	SPTM	$7.2M	78,802	0.74%	+0.45pp	2q	+215.6%+$4.9M
AMAZON COM INC	AMZN	$7.0M	29,411	0.72%	-0.04pp	11q	+30.9%+$1.7M
SPDR SERIES TRUST	TFI	$6.9M	149,733	0.70%	-0.23pp	5q	HELD
APPLIED MATLS INC	AMAT	$6.8M	9,461	0.70%	+0.49pp	11q	+144.5%+$4.0M
MICRON TECHNOLOGY INC	MU	$6.8M	5,874	0.70%	+0.58pp	2q	+212.6%+$4.6M
ISHARES TR	BGRN	$6.7M	140,678	0.69%	-0.22pp	7q	+0.6%+$40.4K
LAM RESEARCH CORP	LRCX	$6.5M	14,960	0.67%	+0.43pp	7q	+131.4%+$3.7M
SPDR INDEX SHS FDS	SPEM	$6.3M	120,883	0.64%	-0.07pp	8q	+16.3%+$878.7K
WESTERN DIGITAL CORP	WDC	$6.2M	9,750	0.64%	+0.52pp	3q	+319.0%+$4.7M
VANGUARD WHITEHALL FDS	VWOB	$6.0M	89,098	0.62%	-0.05pp	7q	+21.9%+$1.1M
ISHARES TR	ISTB	$6.0M	123,851	0.61%	-0.14pp	10q	+8.9%+$488.3K
INVESCO EXCH TRADED FD TR II	PZA	$5.9M	251,214	0.61%	-0.15pp	7q	+5.9%+$328.5K
SCHWAB STRATEGIC TR	SCHF	$5.8M	209,550	0.60%	-0.06pp	2q	+15.5%+$780.2K
ISHARES TR	GOVT	$5.5M	240,454	0.56%	-0.20pp	2q	-2.1%-$116.5K
VANGUARD BD INDEX FDS	BLV	$5.3M	77,492	0.55%	-0.07pp	2q	+17.9%+$810.2K
ALPHABET INC	GOOGL	$5.3M	14,928	0.55%	-0.06pp	10q	+11.5%+$551.4K
ADVANCED MICRO DEVICES INC	AMD	$5.3M	9,181	0.55%	+0.45pp	10q	+226.0%+$3.7M
FIRST TR EXCH TRADED FD III	FTLS	$5.2M	70,890	0.54%	-0.02pp	3q	+24.8%+$1.0M
ABRDN SILVER ETF TRUST	SIVR	$5.2M	93,002	0.54%	-0.26pp	7q	+19.7%+$861.1K
ISHARES TR	LMUB	$4.9M	96,615	0.51%	-0.12pp	2q	+5.8%+$271.3K
INTEL CORP	INTC	$4.9M	35,096	0.50%	-	new	NEW
ISHARES TR	IVV	$4.8M	6,470	0.50%	+0.21pp	3q	+112.1%+$2.6M
J P MORGAN EXCHANGE TRADED F	JMHI	$4.7M	93,682	0.49%	-0.13pp	7q	+2.8%+$130.1K
KLA CORP	KLAC	$4.7M	15,612	0.48%	+0.37pp	11q	+3173.0%+$4.6M
INVESCO EXCH TRADED FD TR II	SPMO	$4.6M	28,212	0.47%	-	new	NEW
BROADCOM INC	AVGO	$4.6M	12,058	0.47%	-0.18pp	10q	-3.7%-$174.5K
SEAGATE TECHNOLOGY HLDNGS PL	STX	$4.5M	4,662	0.46%	-	new	NEW
ISHARES TR	SUSB	$4.4M	176,522	0.45%	-0.14pp	11q	+1.5%+$63.9K
VANGUARD INDEX FDS	VTV	$4.4M	20,091	0.45%	-0.12pp	9q	-2.6%-$115.7K
CIENA CORP	CIEN	$4.3M	8,854	0.45%	+0.24pp	3q	+172.3%+$2.7M
CORNING INC	GLW	$4.3M	16,916	0.44%	+0.35pp	11q	+344.3%+$3.3M
EA SERIES TRUST	CAOS	$4.3M	47,198	0.44%	+0.01pp	3q	+36.0%+$1.1M
COMFORT SYS USA INC	FIX	$4.1M	2,055	0.42%	+0.36pp	4q	+735.4%+$3.6M
FRANKLIN TEMPLETON ETF TR	FLMB	$4.0M	165,782	0.41%	-0.08pp	7q	+10.6%+$383.4K
PALO ALTO NETWORKS INC	PANW	$3.9M	11,375	0.40%	-	new	NEW
MORGAN STANLEY ETF TRUST	CVIE	$3.9M	45,308	0.40%	+0.05pp	2q	+39.3%+$1.1M
LUMENTUM HLDGS INC	LITE	$3.8M	4,436	0.39%	+0.26pp	2q	+281.8%+$2.8M
AMERICAN CENTY ETF TR	AVLV	$3.8M	41,344	0.39%	+0.13pp	2q	+86.0%+$1.7M
INVESCO EXCHANGE TRADED FD T	RSP	$3.7M	17,497	0.38%	+0.21pp	2q	+172.7%+$2.4M
SPDR SERIES TRUST	SPSM	$3.7M	64,386	0.38%	-0.19pp	6q	-21.2%-$997.1K
ETFS GOLD TR	SGOL	$3.7M	96,681	0.38%	-0.22pp	2q	+1.5%+$55.2K
VANGUARD TAX-MANAGED FDS	VEA	$3.7M	51,751	0.38%	-0.25pp	2q	-22.3%-$1.1M
COHERENT CORP	COHR	$3.7M	9,344	0.38%	+0.25pp	4q	+206.0%+$2.5M
SPDR SERIES TRUST	SPHY	$3.7M	155,994	0.38%	-0.08pp	7q	+10.2%+$338.8K
MARVELL TECHNOLOGY INC	MRVL	$3.6M	11,940	0.37%	-	new	NEW
ISHARES TR	IUSG	$3.5M	18,731	0.36%	flat	2q	+20.2%+$591.4K
DELL TECHNOLOGIES INC	DELL	$3.4M	7,927	0.35%	-	new	NEW
TAIWAN SEMICONDUCTOR MANUFAC	TSM	$3.4M	7,108	0.35%	-0.02pp	11q	-1.7%-$57.3K
ISHARES INC	EMXC	$3.3M	32,325	0.34%	+0.14pp	2q	+90.6%+$1.6M
HEWLETT PACKARD ENTERPRISE C	HPE	$3.1M	69,763	0.32%	-	new	NEW
TERADYNE INC	TER	$3.1M	6,341	0.32%	-	new	NEW
ELI LILLY & CO	LLY	$3.0M	2,515	0.31%	+0.06pp	10q	+28.2%+$663.2K
VANGUARD SCOTTSDALE FDS	VCSH	$3.0M	38,042	0.31%	+0.07pp	2q	+75.5%+$1.3M
ISHARES TR	IJR	$3.0M	20,119	0.31%	-0.02pp	8q	+9.4%+$257.0K
ARM HOLDINGS PLC	ARM	$2.8M	7,850	0.29%	-	new	NEW
VANGUARD SCOTTSDALE FDS	VGSH	$2.8M	47,339	0.28%	+0.13pp	2q	+141.2%+$1.6M
JPMORGAN CHASE & CO	JPM	$2.7M	8,159	0.27%	-0.03pp	11q	+14.0%+$328.0K
ISHARES TR	XJH	$2.7M	51,016	0.27%	+0.04pp	2q	+41.5%+$780.8K
ISHARES TR	ESML	$2.6M	46,902	0.27%	flat	11q	+17.9%+$397.4K
AMERICAN CENTY ETF TR	AVLC	$2.6M	28,819	0.27%	+0.01pp	5q	+24.2%+$505.1K
VANGUARD INDEX FDS	VBR	$2.6M	10,511	0.26%	-0.07pp	9q	-0.7%-$18.7K
AMERICAN CENTY ETF TR	AVUV	$2.4M	19,611	0.25%	-0.02pp	5q	+15.1%+$320.3K
SCHWAB STRATEGIC TR	SCHP	$2.4M	91,679	0.25%	-0.10pp	7q	-5.1%-$130.4K
SPDR SERIES TRUST	EFIV	$2.4M	33,274	0.25%	-0.04pp	11q	+6.0%+$137.9K
SCHWAB STRATEGIC TR	SCHB	$2.3M	81,072	0.24%	-0.33pp	2q	-47.8%-$2.2M
VISA INC	V	$2.3M	6,749	0.24%	+0.03pp	10q	+36.6%+$621.0K
SELECT SECTOR SPDR TR	XLRE	$2.3M	51,967	0.24%	-	new	NEW
ASML HLDG NV	ASML	$2.3M	1,146	0.23%	-0.01pp	10q	-2.1%-$49.7K
SPROTT ASSET MANAGEMENT LP	CEF	$2.3M	56,255	0.23%	-0.15pp	2q	HELD
AMERICAN CENTY ETF TR	AVDV	$2.2M	21,279	0.23%	-0.06pp	5q	+10.3%+$204.0K
ISHARES TR	EFA	$2.2M	20,812	0.22%	-0.06pp	2q	+5.4%+$109.8K
SELECT SECTOR SPDR TR	XLV	$2.2M	13,558	0.22%	-	new	NEW
ISHARES TR	STIP	$2.1M	20,717	0.22%	+0.06pp	2q	+86.9%+$984.1K
ISHARES TR	IGIB	$2.1M	39,499	0.22%	+0.07pp	2q	+98.7%+$1.0M
ISHARES TR	HYXF	$2.1M	44,914	0.22%	-0.07pp	7q	+0.8%+$17.4K
ISHARES TR	AOM	$2.1M	41,898	0.21%	-0.25pp	6q	-40.8%-$1.4M
JABIL INC	JBL	$2.1M	5,394	0.21%	-0.01pp	11q	+1.0%+$20.4K
EA SERIES TRUST	CHGX	$2.1M	62,295	0.21%	+0.03pp	5q	+30.0%+$477.9K
TESLA INC	TSLA	$2.0M	4,708	0.20%	+0.01pp	8q	+18.7%+$312.5K
SPDR GOLD TR	GLD	$1.9M	5,174	0.20%	-0.09pp	7q	+9.7%+$169.1K
NEW YORK LIFE INVESTMENTS ET	IQSM	$1.8M	46,325	0.19%	-0.08pp	11q	-12.7%-$268.2K
SELECT SECTOR SPDR TR	XLI	$1.8M	9,631	0.18%	-	new	NEW
SELECT SECTOR SPDR TR	XLE	$1.7M	32,307	0.18%	-	new	NEW
AMERICAN CENTY ETF TR	AVDE	$1.7M	19,098	0.18%	+0.13pp	2q	+440.6%+$1.4M
SPDR SERIES TRUST	SPYM	$1.7M	19,042	0.17%	+0.03pp	4q	+53.6%+$583.9K
CATERPILLAR INC	CAT	$1.7M	1,568	0.17%	+0.03pp	4q	+20.6%+$285.4K
TCW ETF TRUST	VOTE	$1.7M	18,747	0.17%	-0.04pp	11q	+1.0%+$16.8K
COSTCO WHOLESALE CORPORATION	COST	$1.6M	1,699	0.16%	-0.07pp	10q	-2.0%-$32.7K
TRANE TECHNOLOGIES PLC	TT	$1.6M	3,233	0.16%	-0.04pp	11q	+1.7%+$26.5K
ISHARES TR	IXUS	$1.6M	16,566	0.16%	-0.06pp	9q	-7.2%-$123.5K
ISHARES TR	TLH	$1.5M	15,232	0.16%	-0.06pp	2q	-2.6%-$40.8K
BLACKROCK ETF TRUST II	GGOV	$1.5M	30,318	0.16%	-	new	NEW
BLACKROCK ETF TRUST II	BINC	$1.5M	29,052	0.16%	-0.16pp	2q	-35.3%-$828.4K
ISHARES TR	SYSB	$1.5M	17,118	0.16%	-0.06pp	2q	-2.1%-$33.0K
BLACKROCK ETF TRUST	IALT	$1.5M	53,747	0.15%	-	new	NEW
VANGUARD INDEX FDS	VOE	$1.5M	7,603	0.15%	-0.05pp	9q	-1.3%-$20.4K
HOME DEPOT INC	HD	$1.5M	4,223	0.15%	-0.04pp	11q	HELD
EATON CORP PLC	ETN	$1.4M	3,341	0.15%	-0.04pp	11q	HELD
ISHARES TR	IVW	$1.4M	10,234	0.14%	-0.03pp	7q	-3.0%-$43.5K
SELECT SECTOR SPDR TR	XLK	$1.3M	7,055	0.14%	-	new	NEW
SPDR SERIES TRUST	SPTI	$1.3M	45,516	0.13%	-0.08pp	2q	-15.5%-$237.4K
ISHARES INC	ESGE	$1.3M	23,281	0.13%	flat	3q	+19.9%+$211.2K
KEYSIGHT TECHNOLOGIES INC	KEYS	$1.3M	3,606	0.13%	-0.03pp	11q	-0.9%-$11.2K
VANGUARD INTL EQUITY INDEX F	VWO	$1.3M	21,117	0.13%	-0.02pp	2q	+8.1%+$94.4K
META PLATFORMS INC	META	$1.3M	2,231	0.13%	-0.09pp	10q	-9.9%-$138.0K
SPDR SERIES TRUST	SPMD	$1.3M	18,572	0.13%	-0.01pp	5q	+14.2%+$155.7K
NEW YORK LIFE INVESTMENTS ET	IQSI	$1.2M	32,308	0.13%	-0.04pp	11q	-3.1%-$39.6K
SCHWAB STRATEGIC TR	SCHA	$1.2M	34,029	0.13%	+0.09pp	2q	+316.0%+$933.9K
WALMART INC	WMT	$1.2M	10,643	0.12%	-0.07pp	10q	-6.0%-$77.6K
ISHARES TR	IVE	$1.2M	5,183	0.12%	-0.06pp	7q	-15.3%-$213.2K
GOLDMAN SACHS GROUP INC	GS	$1.2M	1,163	0.12%	+0.01pp	8q	+25.2%+$236.6K
CISCO SYS INC	CSCO	$1.1M	9,772	0.12%	+0.02pp	11q	+16.1%+$159.4K
MASTERCARD INCORPORATED	MA	$1.1M	2,173	0.11%	-0.05pp	10q	-9.0%-$109.9K
QUALCOMM INC	QCOM	$1.1M	5,877	0.11%	+0.03pp	11q	+26.1%+$224.7K
ARISTA NETWORKS INC	ANET	$1.1M	6,271	0.11%	-0.03pp	7q	-3.0%-$33.3K
FLEX LTD	FLEX	$1.1M	6,539	0.11%	+0.05pp	4q	+13.5%+$125.8K
TJX COS INC NEW	TJX	$1.1M	6,961	0.11%	-0.04pp	11q	+1.6%+$16.2K
GE AEROSPACE	GE	$1.0M	2,735	0.11%	flat	8q	+10.3%+$95.3K
ABBVIE INC	ABBV	$1.0M	4,040	0.10%	-0.03pp	8q	-15.1%-$181.4K
ISHARES TR	SHYG	$1.0M	23,811	0.10%	+0.02pp	2q	+66.1%+$401.9K
HILTON WORLDWIDE HLDGS INC	HLT	$980.1K	2,966	0.10%	-0.04pp	11q	-2.1%-$20.8K
CASEYS GEN STORES INC	CASY	$976.8K	1,229	0.10%	-0.03pp	8q	-1.4%-$13.5K
NOVARTIS AG	NVS	$967.6K	6,174	0.10%	-0.04pp	10q	-5.1%-$51.6K
BERKSHIRE HATHAWAY INC DEL	BRKB	$942.5K	1,884	0.10%	-0.02pp	9q	+4.2%+$38.0K
EXXON MOBIL CORP	XOMXXXX	$939.5K	6,872	0.10%	-0.04pp	10q	+2.8%+$25.7K
GE VERNOVA INC	GEV	$913.0K	777	0.09%	-0.01pp	2q	-3.0%-$28.2K
CELESTICA INC	CLS	$903.2K	2,476	0.09%	-0.04pp	7q	-3.0%-$28.1K
BLACKROCK ETF TRUST	DYNF	$899.9K	13,232	0.09%	-0.03pp	2q	-6.1%-$58.1K
EA SERIES TRUST	BOXX	$892.5K	7,622	0.09%	+0.01pp	10q	+40.8%+$258.5K
PRINCIPAL FINANCIAL GROUP IN	PFG	$879.2K	8,157	0.09%	flat	10q	+10.8%+$85.8K
REPUBLIC SVCS INC	RSG	$851.1K	3,994	0.09%	-0.04pp	11q	-11.0%-$105.7K
VANGUARD MUN BD FDS	VTEB	$848.9K	16,784	0.09%	-0.07pp	8q	-25.7%-$294.3K
CBRE GROUP INC	CBRE	$835.8K	6,205	0.09%	-0.04pp	11q	-0.7%-$5.8K
ISHARES TR	EFAV	$826.1K	9,419	0.08%	-	new	NEW
COCA COLA CO	KO	$815.7K	10,036	0.08%	-0.01pp	11q	+9.0%+$67.2K
VANECK ETF TRUST	HYD	$814.1K	15,804	0.08%	-0.03pp	5q	HELD
LOWES COS INC	LOW	$810.6K	3,676	0.08%	-0.05pp	11q	-7.9%-$69.7K
VERIZON COMMUNICATIONS INC	VZ	$804.8K	19,009	0.08%	-0.03pp	10q	+2.9%+$22.5K
AMERICAN CENTY ETF TR	AVMV	$803.7K	9,980	0.08%	+0.01pp	5q	+39.3%+$226.8K
JOHNSON & JOHNSON	JNJ	$786.8K	3,098	0.08%	-0.02pp	9q	+0.7%+$5.6K
ISHARES TR	ICSH	$777.0K	15,361	0.08%	-	new	NEW
BANK OF AMER CORP	BAC	$766.0K	13,443	0.08%	-0.02pp	9q	+1.2%+$8.8K
ISHARES INC	IEMG	$756.7K	9,134	0.08%	-0.06pp	2q	-30.6%-$333.7K
BIO RAD LABS INC	BIO	$754.6K	2,570	0.08%	-	new	NEW
BOEING CO	BA	$743.9K	3,437	0.08%	+0.05pp	3q	+262.6%+$538.7K
NVENT ELEC PLC	NVT	$741.6K	4,373	0.08%	flat	5q	-0.9%-$6.6K
KB FINL GROUP INC	KB	$736.3K	7,015	0.08%	-0.03pp	10q	-5.1%-$39.4K
VANGUARD BD INDEX FDS	BSV	$726.7K	9,328	0.07%	-0.07pp	2q	-32.0%-$341.4K
SPDR SERIES TRUST	SHE	$720.1K	4,663	0.07%	-0.01pp	4q	+9.3%+$61.5K
ORACLE CORP	ORCL	$715.4K	4,882	0.07%	-0.03pp	11q	+1.1%+$8.1K
DEERE & CO	DE	$713.0K	1,124	0.07%	-0.01pp	6q	+10.2%+$66.0K
JOHNSON CONTROLS INTERNATION	JCI	$708.7K	4,850	0.07%	-0.04pp	10q	-14.4%-$118.8K
US FOODS HLDG CORP	USFD	$707.5K	6,919	0.07%	-0.02pp	11q	-4.2%-$30.9K
MERCK & CO INC	MRK	$707.0K	5,502	0.07%	-0.01pp	3q	+12.3%+$77.4K
NASDAQ INC	NDAQ	$677.2K	8,591	0.07%	-0.03pp	11q	HELD
ARK ETF TR	ARKQ	$672.9K	5,090	0.07%	-	new	NEW
TEXAS INSTRS INC	TXN	$658.2K	2,208	0.07%	+0.02pp	8q	+31.0%+$155.9K
WW GRAINGER INC	GWW	$644.4K	474	0.07%	-0.01pp	11q	-1.5%-$9.5K
RB GLOBAL INC	RBA	$639.4K	5,491	0.07%	-0.01pp	8q	HELD
UNITEDHEALTH GROUP INC	UNH	$636.3K	1,531	0.07%	+0.02pp	11q	+30.7%+$149.6K
GOLDMAN SACHS ETF TR	JUST	$634.9K	5,951	0.07%	-0.01pp	6q	+9.1%+$53.0K
LINDE PLC	LIN	$631.7K	1,217	0.06%	-0.02pp	11q	-0.9%-$5.7K
D R HORTON INC	DHI	$626.5K	3,846	0.06%	-0.01pp	2q	+6.8%+$40.1K
ISHARES TR	ICVT	$624.0K	5,126	0.06%	-0.05pp	2q	-33.3%-$311.7K
DIMENSIONAL ETF TRUST	DFUV	$620.8K	11,285	0.06%	-0.07pp	2q	-40.3%-$419.6K
GLOBAL X FDS	CPTL	$611.8K	13,023	0.06%	-0.01pp	4q	+2.3%+$13.6K
NETFLIX INC	NFLX	$607.8K	8,512	0.06%	-0.09pp	9q	-18.9%-$141.8K
MITSUBISHI UFJ FINANCIAL GRO	MUFG	$595.6K	29,947	0.06%	-0.01pp	11q	+3.5%+$20.0K
RTX CORPORATION	RTX	$594.5K	3,133	0.06%	flat	8q	+31.3%+$141.7K
SYSCO CORP	SYY	$593.0K	7,095	0.06%	-0.01pp	11q	+6.0%+$33.7K
THERMO FISHER SCIENTIFIC INC	TMO	$586.9K	1,171	0.06%	-0.04pp	11q	-15.6%-$108.8K
S&P GLOBAL INC	SPGI	$585.7K	1,438	0.06%	-0.03pp	11q	-4.8%-$29.3K
HSBC HLDGS PLC	HSBC	$583.0K	6,131	0.06%	-0.01pp	5q	+5.2%+$28.7K
DIMENSIONAL ETF TRUST	DFCA	$582.5K	11,609	0.06%	+0.03pp	2q	+131.6%+$331.0K
DISNEY WALT CO	DIS	$580.5K	6,031	0.06%	-0.02pp	11q	+1.4%+$7.8K
ROYAL BK CDA	RY	$575.1K	2,779	0.06%	flat	3q	+5.7%+$31.0K
BALL CORP	BALL	$559.9K	8,973	0.06%	-0.02pp	10q	+3.2%+$17.4K
VANGUARD INDEX FDS	VO	$555.7K	6,897	0.06%	+0.02pp	2q	+649.7%+$481.6K
FRANKLIN TEMPLETON ETF TR	FLBL	$553.0K	24,128	0.06%	-	new	NEW
PROCTER & GAMBLE CO	PG	$551.4K	3,761	0.06%	-0.02pp	11q	-7.8%-$46.6K
FRANKLIN TEMPLETON ETF TR	INCE	$550.8K	8,267	0.06%	-0.02pp	2q	HELD
REGAL REXNORD CORPORATION	RRX	$550.7K	2,312	0.06%	-0.01pp	5q	-0.7%-$4.0K
EXELON CORP	EXC	$547.9K	11,753	0.06%	-0.02pp	8q	+2.2%+$11.7K
UNITED THERAPEUTICS CORP DEL	UTHR	$547.5K	1,011	0.06%	-0.03pp	9q	-5.5%-$32.0K
SUMITOMO MITSUI FIN GRP INC	SMFG	$546.0K	23,155	0.06%	-0.01pp	11q	+1.5%+$8.0K
ASE TECHNOLOGY HLDG CO LTD	ASX	$545.9K	12,099	0.06%	+0.01pp	2q	+5.7%+$29.4K
ISHARES TR	LQD	$533.0K	4,887	0.05%	-	new	NEW
EVERSOURCE ENERGY	ES	$524.5K	7,257	0.05%	-0.02pp	11q	-1.6%-$8.5K
VANGUARD INDEX FDS	VNQ	$516.7K	5,358	0.05%	-	new	NEW
PROLOGIS INC.	PLD	$512.9K	3,786	0.05%	-0.01pp	10q	+6.6%+$31.6K
PEPSICO INC	PEP	$512.4K	3,785	0.05%	-0.04pp	10q	-15.5%-$94.0K
VANGUARD WORLD FD	VGT	$508.7K	4,256	0.05%	-	new	NEW
MOODYS CORP	MCO	$503.4K	1,111	0.05%	-0.03pp	11q	-16.0%-$96.1K
VANGUARD SCOTTSDALE FDS	VCIT	$487.2K	5,895	0.05%	-	new	NEW
EAST WEST BANCORP INC	EWBC	$486.4K	3,768	0.05%	-0.01pp	9q	-3.8%-$19.0K
ASTRAZENECA PLC	AZN	$483.1K	2,548	0.05%	-0.06pp	2q	-34.3%-$252.4K
RELIANCE INC	RS	$467.5K	1,251	0.05%	flat	10q	+6.3%+$27.7K
INVESCO EXCH TRADED FD TR II	PWZ	$462.8K	18,882	0.05%	-	new	NEW
WASTE MGMT INC DEL	WM	$459.9K	2,063	0.05%	-0.02pp	11q	-10.5%-$53.9K
ISHARES TR	IEFA	$458.8K	4,750	0.05%	-0.02pp	8q	+0.5%+$2.3K
EVERPURE INC	P	$457.2K	5,803	0.05%	flat	4q	+11.1%+$45.7K
BANCO SANTANDER S.A.	SAN	$452.3K	32,775	0.05%	-0.01pp	11q	-2.5%-$11.8K
JONES LANG LASALLE INC	JLL	$449.1K	1,449	0.05%	-0.02pp	9q	-7.2%-$35.0K
PFIZER INC	PFE	$449.0K	18,646	0.05%	-0.01pp	9q	+19.0%+$71.8K
INTERNATIONAL BUSINESS MACHS	IBM	$442.6K	1,574	0.05%	-0.01pp	9q	+0.7%+$3.1K
CITIGROUP INC	C	$436.9K	3,122	0.04%	flat	3q	+24.4%+$85.7K
NEWS CORP NEW	NWS	$435.6K	15,526	0.04%	-0.02pp	9q	+0.8%+$3.3K
XPO INC	XPO	$432.5K	2,107	0.04%	-0.03pp	3q	-14.7%-$74.3K
PERFORMANCE FOOD GROUP CO	PFGC	$430.0K	3,847	0.04%	flat	8q	+3.7%+$15.4K
HASBRO INC	HAS	$427.6K	5,177	0.04%	-0.04pp	10q	-22.1%-$121.3K
UNION PAC CORP	UNP	$426.5K	1,568	0.04%	flat	2q	+26.0%+$88.1K
ISHARES TR	IEF	$423.1K	4,474	0.04%	-	new	NEW
SPDR SERIES TRUST	SHM	$422.8K	8,816	0.04%	-0.01pp	8q	HELD
VANGUARD INTL EQUITY INDEX F	VGK	$422.4K	4,771	0.04%	-	new	NEW
NEXTERA ENERGY INC	NEE	$422.3K	4,812	0.04%	-0.02pp	11q	+2.4%+$9.9K
RENAISSANCERE HLDGS LTD	RNR	$421.9K	1,331	0.04%	-0.01pp	9q	-2.9%-$12.7K
MADISON SQUARE GRDN SPRT COR	MSGS	$421.7K	1,050	0.04%	-0.01pp	3q	HELD
ILLUMINA INC	ILMN	$417.1K	2,372	0.04%	+0.01pp	3q	+20.3%+$70.5K
CHEVRON CORPORATION	CVX	$413.9K	2,497	0.04%	-0.02pp	3q	-4.8%-$20.9K
NEUROCRINE BIOSCIENCES INC	NBIX	$410.6K	2,437	0.04%	flat	5q	-1.1%-$4.5K
BURLINGTON STORES INC	BURL	$408.7K	1,290	0.04%	-0.02pp	9q	-4.2%-$18.1K
CARDINAL HEALTH INC	CAH	$407.0K	1,713	0.04%	-0.03pp	2q	-34.2%-$211.7K
PENUMBRA INC	PEN	$401.0K	1,270	0.04%	-0.02pp	3q	-8.6%-$37.9K
ISHARES TR	EFG	$393.8K	3,165	0.04%	-0.08pp	2q	-58.1%-$545.8K
PRIMERICA INC	PRI	$393.6K	1,385	0.04%	-0.01pp	10q	+4.4%+$16.5K
NEWS CORP NEW	NWSA	$391.9K	15,785	0.04%	-0.01pp	10q	HELD
VANGUARD INDEX FDS	VB	$391.2K	1,291	0.04%	-	new	NEW
BLACKROCK ETF TRUST II	CALI	$389.8K	7,713	0.04%	-	new	NEW
SELECT SECTOR SPDR TR	XLF	$387.8K	7,233	0.04%	-	new	NEW
MCKESSON CORP	MCK	$384.2K	508	0.04%	-0.04pp	2q	-19.9%-$95.3K
UNUM GROUP	UNM	$380.0K	4,251	0.04%	flat	8q	+5.1%+$18.5K
ISHARES TR	EFV	$379.7K	4,960	0.04%	-0.07pp	2q	-51.6%-$404.3K
AT&T INC	T	$379.7K	18,341	0.04%	-0.01pp	9q	+33.2%+$94.7K
BANK MONTREAL MEDIUM	BMO	$371.5K	2,102	0.04%	flat	4q	HELD
NEW YORK TIMES CO MTN BE	NYT	$364.7K	5,211	0.04%	-0.02pp	9q	-6.4%-$25.1K
BLACKROCK ETF TRUST	BAI	$359.7K	6,822	0.04%	-0.01pp	2q	-25.7%-$124.4K
ISHARES U S ETF TR	MEAR	$359.0K	7,125	0.04%	-0.01pp	2q	+2.6%+$9.0K
VANGUARD SCOTTSDALE FDS	VMBS	$355.9K	7,603	0.04%	-0.03pp	2q	-27.4%-$134.1K
ISHARES TR	HDV	$354.8K	12,945	0.04%	-0.02pp	2q	+356.6%+$277.1K
CARLISLE COS INC	CSL	$354.1K	976	0.04%	-0.01pp	10q	-4.6%-$17.0K
MCDONALDS CORP	MCD	$352.1K	1,302	0.04%	-0.02pp	8q	-10.6%-$41.6K
WELLS FARGO & CO	WFC	$350.3K	4,239	0.04%	-0.01pp	8q	-4.4%-$16.3K
WP CAREY INC	WPC	$343.5K	4,805	0.04%	-0.01pp	9q	+1.1%+$3.9K
AMGEN INC	AMGN	$339.4K	937	0.03%	-0.01pp	11q	-3.0%-$10.5K
AMPHENOL CORP	APH	$338.0K	1,917	0.03%	flat	4q	+2.1%+$6.9K
TOLL BROTHERS INC	TOL	$336.4K	2,042	0.03%	-0.01pp	4q	-14.7%-$58.0K
VANGUARD SCOTTSDALE FDS	VCLT	$334.5K	4,445	0.03%	-	new	NEW
TWILIO INC	TWLO	$334.3K	1,620	0.03%	-	new	NEW
PHILIP MORRIS INTL INC	PM	$329.9K	1,824	0.03%	-0.01pp	7q	-13.6%-$51.9K
AUTOMATIC DATA PROCESSING IN	ADP	$328.7K	1,468	0.03%	flat	11q	+9.1%+$27.3K
LINCOLN ELEC HLDGS INC	LECO	$327.9K	1,235	0.03%	-0.01pp	4q	+1.3%+$4.2K
AMERICAN EXPRESS CO	AXP	$327.7K	969	0.03%	-0.01pp	5q	+6.7%+$20.6K
SANMINA CORP	SANM	$326.0K	1,288	0.03%	flat	3q	-6.7%-$23.3K
ELECTRONIC ARTS INC	EA	$325.3K	1,586	0.03%	-0.02pp	11q	-11.3%-$41.6K
PLEXUS CORP	PLXS	$325.0K	1,081	0.03%	flat	2q	+7.8%+$23.5K
FIRST TR EXCHNG TRADED FD VI	FJUL	$321.2K	5,395	0.03%	-0.01pp	4q	-8.0%-$28.0K
MONDELEZ INTL INC	MDLZ	$321.0K	5,549	0.03%	-0.01pp	2q	-2.5%-$8.3K
TORONTO DOMINION BK ONT	TD	$320.1K	2,636	0.03%	flat	2q	+3.0%+$9.2K
ISHARES INC	URTH	$319.4K	1,576	0.03%	-0.01pp	6q	-8.2%-$28.6K
ISHARES TR	MTUM	$318.5K	929	0.03%	-0.01pp	2q	-26.5%-$114.8K
BANCO BILBAO VIZCAYA ARGENTA	BBVA	$317.6K	12,675	0.03%	-0.01pp	11q	-9.9%-$35.1K
ESSENTIAL UTILS INC	WTRG	$317.4K	8,284	0.03%	-0.02pp	9q	-22.0%-$89.3K
FIRST TR EXCHNG TRADED FD VI	FJAN	$313.2K	5,685	0.03%	-0.01pp	4q	HELD
CAPITAL GROUP DIVIDEND VALUE	CGDV	$310.3K	6,296	0.03%	-0.01pp	4q	HELD
DUKE ENERGY CORP NEW	DUK	$309.8K	2,448	0.03%	-0.01pp	3q	+2.7%+$8.2K
CROWN HLDGS INC	CCK	$305.4K	2,731	0.03%	-0.01pp	8q	-3.6%-$11.5K
OREILLY AUTOMOTIVE INC	ORLY	$304.1K	3,302	0.03%	-0.01pp	11q	-1.1%-$3.5K
HARTFORD INSURANCE GROUP INC	HIG	$301.9K	2,278	0.03%	-0.01pp	11q	-3.5%-$11.0K
AMERICAN AIRLINES GROUP INC	AAL	$300.8K	16,646	0.03%	+0.01pp	3q	+26.1%+$62.3K
ROYAL GOLD INC	RGLD	$299.9K	1,503	0.03%	-0.03pp	8q	-6.0%-$19.2K
WHEATON PRECIOUS METALS CORP	WPM	$299.2K	2,663	0.03%	-0.03pp	6q	-7.1%-$23.0K
UNILEVER PLC	UL	$295.9K	4,922	0.03%	-0.01pp	3q	-3.9%-$11.9K
ISHARES SILVER TR	SLV	$292.2K	5,466	0.03%	-	new	NEW
ANNALY CAPITAL MANAGEMENT IN	NLY	$292.1K	13,065	0.03%	-0.01pp	4q	+0.9%+$2.5K
SONY GROUP CORP	SONY	$291.0K	14,509	0.03%	-0.01pp	8q	+4.0%+$11.2K
VANECK ETF TRUST	SMH	$289.9K	442	0.03%	-	new	NEW
UNITED MICROELECTRONICS CORP	UMC	$286.1K	10,514	0.03%	-	new	NEW
SCHWAB STRATEGIC TR	SCHV	$284.7K	8,179	0.03%	-0.17pp	2q	-82.0%-$1.3M
VANGUARD WHITEHALL FDS	VYM	$284.3K	1,799	0.03%	-0.01pp	2q	-0.6%-$1.7K
BLACKROCK ETF TRUST	THRO	$283.6K	6,578	0.03%	-0.02pp	2q	-32.6%-$137.2K
INTERDIGITAL INC	IDCC	$281.5K	994	0.03%	-0.02pp	3q	-6.4%-$19.3K
ELEVANCE HEALTH INC FORMERLY	ELV	$278.6K	721	0.03%	-	new	NEW
TD SYNNEX CORPORATION	SNX	$277.5K	1,038	0.03%	-	new	NEW
ISHARES TR	SUB	$277.1K	2,602	0.03%	-	new	NEW
ALKERMES PLC	ALKS	$274.3K	5,235	0.03%	-	new	NEW
OWENS CORNING NEW	OC	$270.8K	1,703	0.03%	-	new	NEW
SOMNIGROUP INTERNATIONAL INC	SGI	$269.5K	3,437	0.03%	-0.01pp	7q	-9.3%-$27.7K
AON PLC	AON	$266.9K	805	0.03%	-	new	NEW
ISHARES TR	IBDU	$265.8K	11,476	0.03%	-0.01pp	2q	+8.4%+$20.5K
ISHARES TR	IBDT	$265.2K	10,502	0.03%	-0.01pp	2q	+8.5%+$20.8K
ISHARES TR	IBDS	$265.0K	10,942	0.03%	-0.01pp	2q	DEBT
CURTISS WRIGHT CORP	CW	$264.8K	349	0.03%	-0.01pp	2q	HELD
ISHARES TR	IBDR	$263.5K	10,876	0.03%	-0.01pp	2q	DEBT
UNITED PARCEL SVCS INC	UPS	$262.8K	2,445	0.03%	-	new	NEW
FIRST TR EXCHANGE-TRADED FD	RDVY	$262.4K	3,238	0.03%	-0.01pp	2q	HELD
SHELL PLC	SHEL	$260.1K	3,354	0.03%	-0.02pp	3q	-4.5%-$12.3K
BLACKROCK ETF TRUST	CORO	$259.9K	7,102	0.03%	-	new	NEW
BLACKROCK ETF TRUST	BLCR	$256.8K	5,098	0.03%	flat	2q	+8.2%+$19.4K
ISHARES TR	XVV	$256.5K	4,517	0.03%	flat	2q	+17.1%+$37.5K
RALPH LAUREN CORP	RL	$253.9K	632	0.03%	-0.01pp	5q	HELD
CONOCOPHILLIPS	COP	$250.4K	2,409	0.03%	-0.01pp	2q	+5.8%+$13.8K
CENCORA INC	COR	$249.2K	880	0.03%	-0.02pp	9q	-20.7%-$65.1K
J P MORGAN EXCHANGE TRADED F	JEPI	$249.1K	4,411	0.03%	-0.01pp	2q	+0.5%+$1.3K
WILLIAMS COS INC	WMB	$247.8K	3,333	0.03%	-0.01pp	2q	-0.7%-$1.8K
ISHARES INC	EMGF	$247.5K	3,378	0.03%	-0.01pp	2q	-5.9%-$15.5K
IDEXX LABS INC	IDXX	$247.4K	470	0.03%	-0.01pp	2q	HELD
INTUITIVE SURGICAL INC	ISRG	$246.2K	619	0.03%	-0.02pp	3q	-10.8%-$29.8K
ONCOLYTICS BIOTECH INC	ONCY	$245.4K	258,306	0.03%	-	new	NEW
ZURN ELKAY WATER SOLNS CORP	ZWS	$244.8K	4,845	0.03%	-0.01pp	4q	-2.6%-$6.5K
ROYAL CARIBBEAN GROUP	RCL	$242.8K	765	0.02%	-	new	NEW
UBS GROUP AG	UBS	$241.6K	4,875	0.02%	-	new	NEW
SCHWAB STRATEGIC TR	SCHG	$240.7K	7,112	0.02%	-0.02pp	2q	-31.5%-$110.8K
BREAD FINANCIAL HOLDINGS INC	BFH	$240.4K	2,219	0.02%	-	new	NEW
SAP SE	SAP	$240.1K	1,558	0.02%	-0.01pp	10q	HELD
ALLY FINL INC	ALLY	$240.1K	5,226	0.02%	flat	3q	+5.8%+$13.2K
DIMENSIONAL ETF TRUST	DFIC	$239.6K	6,431	0.02%	flat	2q	+17.1%+$35.0K
BLACKROCK ETF TRUST	IDEF	$239.2K	7,528	0.02%	-0.01pp	2q	+15.1%+$31.4K
ISHARES TR	SOXX	$238.7K	373	0.02%	-	new	NEW
DANAHER CORP DEL	DHR	$238.4K	1,251	0.02%	-0.02pp	11q	-19.7%-$58.5K
SALESFORCE INC	CRM	$236.1K	1,507	0.02%	-0.02pp	10q	-16.4%-$46.2K
EXELIXIS INC	EXEL	$235.4K	4,326	0.02%	-	new	NEW
PALANTIR TECHNOLOGIES INC	PLTR	$232.1K	1,989	0.02%	-0.01pp	4q	+24.8%+$46.1K
HOWMET AEROSPACE INC	HWM	$231.0K	859	0.02%	-0.03pp	2q	-43.1%-$174.8K
ADVANCED ENERGY INDS	AEIS	$229.2K	615	0.02%	-0.02pp	2q	-18.9%-$53.3K
ABBOTT LABORATORIES	ABT	$225.5K	2,486	0.02%	-0.02pp	8q	-21.8%-$62.9K
THE CIGNA GROUP	CI	$225.2K	817	0.02%	-0.01pp	11q	+1.7%+$3.9K
BHP BILLITON LIMITED	BHP	$225.1K	2,702	0.02%	-	new	NEW
INNOVATOR ETFS TRUST	DDFD	$225.0K	11,262	0.02%	-	new	NEW
EQUITABLE HLDGS INC	EQH	$223.0K	5,081	0.02%	-	new	NEW
EMCOR GROUP INC	EME	$219.1K	264	0.02%	-0.01pp	2q	-7.0%-$16.6K
ADOBE INC	ADBE	$218.3K	1,065	0.02%	-0.01pp	10q	+21.4%+$38.5K
WOODWARD INC	WWD	$217.6K	511	0.02%	-0.01pp	2q	-24.4%-$70.3K
ISHARES TR	SLQD	$216.7K	4,303	0.02%	-0.09pp	2q	-74.1%-$619.2K
RBC BEARINGS INC	RBC	$216.4K	336	0.02%	-0.01pp	2q	HELD
ACUITY INC	AYI	$215.6K	573	0.02%	-	new	NEW
AUTOLIV INC	ALV	$215.3K	1,853	0.02%	-	new	NEW
BANK NOVA SCOTIA B C	BNS	$213.4K	2,457	0.02%	-	new	NEW
CHUBB LIMITED	CB	$213.4K	626	0.02%	-	new	NEW
ISHARES TR	QUAL	$213.1K	971	0.02%	-0.04pp	2q	-55.8%-$268.8K
CME GROUP INC	CME	$213.0K	964	0.02%	-0.01pp	6q	+8.9%+$17.5K
CARPENTER TECHNOLOGY CORP	CRS	$212.3K	344	0.02%	-	new	NEW
WASTE CONNECTIONS INC	WCN	$211.4K	1,268	0.02%	-0.01pp	6q	-6.6%-$14.8K
PROSHARES TR	PSQ	$210.2K	8,389	0.02%	-0.01pp	2q	HELD
AVERY DENNISON CORP	AVY	$207.5K	1,278	0.02%	-	new	NEW
MORGAN STANLEY	MS	$206.0K	986	0.02%	-	new	NEW
NEW YORK LIFE INVESTMENTS ET	IQSU	$203.0K	3,243	0.02%	-	new	NEW
HALEON PLC	HLN	$145.4K	15,583	0.01%	-0.01pp	9q	-7.8%-$12.4K
MIZUHO FINANCIAL GROUP INC	MFG	$141.7K	14,788	0.01%	flat	7q	+7.2%+$9.6K
KOREA ELEC PWR CORP	KEP	$127.8K	10,563	0.01%	-	new	NEW
SAFE BULKERS INC	SB	$127.2K	20,159	0.01%	flat	4q	+5.3%+$6.4K
ICL GROUP LTD	ICL	$108.3K	21,754	0.01%	flat	2q	+7.1%+$7.2K
NOMURA HLDGS INC	NMR	$104.0K	11,849	0.01%	flat	11q	+0.6%

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
Funds & ETFs	$80.9M	8.3%
Semiconductors & Electronics	$70.7M	7.3%
Computer Hardware	$51.5M	5.3%
Capital Markets	$28.1M	2.9%
Software & IT Services	$24.9M	2.6%
Industrials	$17.1M	1.8%
Retail & Consumer	$15.5M	1.6%
Instruments & Controls	$15.1M	1.6%
Other sectors	$70.3M	7.2%
Not classified	$599.3M	61.6%

Quarter by quarter

Quarter	Value	Positions	New	Added	Trimmed	Exited	Top 10	Days to file
Q2 2026	$973.3M	379	62	171	123	33	32.9%	43
Q1 2026	$734.7M	350	106	150	83	22	33.1%	41
Q4 2025	$521.7M	266	35	149	67	19	39.3%	27
Q3 2025	$473.9M	250	29	95	114	29	39.9%	43
Q2 2025	$426.0M	250	33	84	122	30	41.5%	43
Q1 2025	$356.4M	247	21	91	128	50	43.0%	44
Q4 2024	$351.0M	276	37	115	104	21	43.4%	44
Q3 2024	$267.5M	260	60	130	62	13	45.1%	31
Q2 2024	$195.1M	213	63	101	47	17	44.8%	36
Q1 2024	$108.5M	167	53	46	65	36	35.9%	40
Q4 2023	$88.5M	150	0	0	0	0	32.3%	128

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.