# Sincerus Advisory, LLC

> Institutional holdings reported to the SEC as of Q3 2026 on Form 13F. CIK 2050968. Source: https://holderbook.com/funds/2050968-sincerus-advisory-llc/

- Reported value: $153.3M
- Positions: 87
- Weight of the ten largest: 50.5%
- Filed: 2026-10-09

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 |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $23.2M | 30,399 | 15.1% | 8 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $11.5M | 111,088 | 7.5% | 8 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $8.7M | 81,509 | 5.7% | 8 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $6.2M | 61,729 | 4.1% | 8 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $5.7M | 59,978 | 3.7% | 8 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $5.1M | 72,554 | 3.3% | 8 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $4.8M | 20,631 | 3.1% | 8 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $4.6M | 16,458 | 3.0% | 8 |
| ISHARES TR | [ESGD](https://holderbook.com/stocks/ESGD/) | $3.8M | 37,126 | 2.5% | 8 |
| DIGITALOCEAN HLDGS INC | [DOCN](https://holderbook.com/stocks/DOCN/) | $3.7M | 27,475 | 2.4% | 8 |
| J P MORGAN EXCHANGE TRADED F | [HELO](https://holderbook.com/stocks/HELO/) | $3.6M | 51,583 | 2.3% | 8 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $3.4M | 16,507 | 2.2% | 8 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $3.1M | 39,335 | 2.0% | 8 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $2.8M | 7,392 | 1.8% | 8 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $2.8M | 39,207 | 1.8% | 8 |
| ISHARES TR | [SCZ](https://holderbook.com/stocks/SCZ/) | $2.7M | 32,247 | 1.8% | 8 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $2.7M | 39,722 | 1.7% | 8 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $2.6M | 7,727 | 1.7% | 8 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $2.5M | 27,522 | 1.6% | 8 |
| VANGUARD INTL EQUITY INDEX F | [VSS](https://holderbook.com/stocks/VSS/) | $2.5M | 15,970 | 1.6% | 8 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $2.4M | 50,474 | 1.6% | 8 |
| NUSHARES ETF TR | [NULV](https://holderbook.com/stocks/NULV/) | $2.0M | 37,484 | 1.3% | 8 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $1.9M | 23,856 | 1.2% | 8 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $1.9M | 14,791 | 1.2% | 8 |
| ISHARES TR | [REZ](https://holderbook.com/stocks/REZ/) | $1.8M | 20,286 | 1.2% | 8 |
| DIMENSIONAL ETF TRUST | [DFAU](https://holderbook.com/stocks/DFAU/) | $1.6M | 31,018 | 1.1% | 8 |
| ISHARES TR | [IGF](https://holderbook.com/stocks/IGF/) | $1.6M | 26,308 | 1.1% | 8 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.6M | 2,223 | 1.1% | 8 |
| SPDR SERIES TRUST | [JNK](https://holderbook.com/stocks/JNK/) | $1.6M | 16,798 | 1.0% | 8 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $1.5M | 2,005 | 1.0% | 8 |
| WISDOMTREE TR | [DEM](https://holderbook.com/stocks/DEM/) | $1.5M | 26,408 | 1.0% | 8 |
| GOLDMAN SACHS ETF TR | [JUST](https://holderbook.com/stocks/JUST/) | $1.4M | 13,012 | 0.9% | 8 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $1.3M | 14,443 | 0.8% | 8 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.3M | 1,656 | 0.8% | 8 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.1M | 4,775 | 0.7% | 8 |
| VANGUARD INTL EQUITY INDEX F | [VNQI](https://holderbook.com/stocks/VNQI/) | $1.1M | 25,264 | 0.7% | 8 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $907.8K | 8,885 | 0.6% | 8 |
| VANGUARD INTL EQUITY INDEX F | [VPL](https://holderbook.com/stocks/VPL/) | $879.5K | 7,594 | 0.6% | 3 |
| SPDR INDEX SHS FDS | [RWO](https://holderbook.com/stocks/RWO/) | $792.6K | 17,081 | 0.5% | 5 |
| VANGUARD CALIF TAX FREE FDS | [VTEC](https://holderbook.com/stocks/VTEC/) | $790.6K | 8,385 | 0.5% | 1 |
| DIMENSIONAL ETF TRUST | [DFUS](https://holderbook.com/stocks/DFUS/) | $778.2K | 9,373 | 0.5% | 8 |
| VANGUARD MUN BD FDS | [VCRM](https://holderbook.com/stocks/VCRM/) | $724.6K | 10,125 | 0.5% | 3 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $670.0K | 956 | 0.4% | 8 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $625.1K | 1,670 | 0.4% | 8 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $618.6K | 8,012 | 0.4% | 1 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $613.1K | 6,090 | 0.4% | 8 |
| VANGUARD INTL EQUITY INDEX F | [VGK](https://holderbook.com/stocks/VGK/) | $607.2K | 6,995 | 0.4% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $606.6K | 1,763 | 0.4% | 6 |
| DIMENSIONAL ETF TRUST | [DFAE](https://holderbook.com/stocks/DFAE/) | $603.4K | 15,350 | 0.4% | 8 |
| DIMENSIONAL ETF TRUST | [DFAS](https://holderbook.com/stocks/DFAS/) | $599.8K | 7,747 | 0.4% | 8 |
| ISHARES TR | [PFF](https://holderbook.com/stocks/PFF/) | $594.8K | 20,162 | 0.4% | 8 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $574.3K | 1,120 | 0.4% | 8 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $547.4K | 2,197 | 0.4% | 8 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $531.1K | 1,559 | 0.3% | 8 |
| SPDR INDEX SHS FDS | [GII](https://holderbook.com/stocks/GII/) | $527.9K | 7,549 | 0.3% | 7 |
| TIDAL TRUST III | [NACP](https://holderbook.com/stocks/NACP/) | $522.4K | 8,568 | 0.3% | 8 |
| J P MORGAN EXCHANGE TRADED F | [JMST](https://holderbook.com/stocks/JMST/) | $467.2K | 9,241 | 0.3% | 8 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $450.4K | 8,011 | 0.3% | 8 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $449.4K | 2,703 | 0.3% | 8 |
| J P MORGAN EXCHANGE TRADED F | [JMUB](https://holderbook.com/stocks/JMUB/) | $438.1K | 9,208 | 0.3% | 4 |
| VANGUARD SCOTTSDALE FDS | [VTWO](https://holderbook.com/stocks/VTWO/) | $436.9K | 3,893 | 0.3% | 8 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $402.5K | 658 | 0.3% | 2 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $400.9K | 5,133 | 0.3% | 8 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $324.0K | 5,462 | 0.2% | 8 |
| VANGUARD WORLD FD | [VSGX](https://holderbook.com/stocks/VSGX/) | $313.3K | 3,865 | 0.2% | 8 |
| ALPS ETF TR | [DTEC](https://holderbook.com/stocks/DTEC/) | $310.5K | 6,116 | 0.2% | 8 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $305.3K | 869 | 0.2% | 5 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $301.4K | 1,789 | 0.2% | 4 |
| BRAZE INC | [BRZE](https://holderbook.com/stocks/BRZE/) | $295.3K | 11,766 | 0.2% | 8 |
| J P MORGAN EXCHANGE TRADED F | [JPST](https://holderbook.com/stocks/JPST/) | $285.0K | 5,659 | 0.2% | 3 |
| BROADSTONE NET LEASE INC | [BNL](https://holderbook.com/stocks/BNL/) | $250.8K | 13,556 | 0.2% | 8 |
| SPDR SERIES TRUST | [SHE](https://holderbook.com/stocks/SHE/) | $250.8K | 1,593 | 0.2% | 6 |
| PIMCO ETF TR | [BOND](https://holderbook.com/stocks/BOND/) | $247.7K | 2,847 | 0.2% | 1 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $244.8K | 2,527 | 0.2% | 5 |
| DOORDASH INC | [DASH](https://holderbook.com/stocks/DASH/) | $243.2K | 1,325 | 0.2% | 2 |
| VANGUARD WHITEHALL FDS | [VWOB](https://holderbook.com/stocks/VWOB/) | $238.3K | 3,774 | 0.2% | 8 |
| SPDR SERIES TRUST | [HYMB](https://holderbook.com/stocks/HYMB/) | $237.3K | 10,110 | 0.2% | 8 |
| SPDR INDEX SHS FDS | [FEZ](https://holderbook.com/stocks/FEZ/) | $229.3K | 3,407 | 0.1% | 6 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $227.1K | 3,693 | 0.1% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $223.7K | 623 | 0.1% | 1 |
| LISTED FDS TR | [UMMA](https://holderbook.com/stocks/UMMA/) | $222.3K | 6,039 | 0.1% | 1 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $221.9K | 1,214 | 0.1% | 2 |
| ABRDN SILVER ETF TRUST | [SIVR](https://holderbook.com/stocks/SIVR/) | $214.3K | 3,740 | 0.1% | 4 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $206.5K | 582 | 0.1% | 2 |
| SPDR SERIES TRUST | [EFIV](https://holderbook.com/stocks/EFIV/) | $205.6K | 2,776 | 0.1% | 2 |
| NEW YORK LIFE INVESTMENTS ET | [QAI](https://holderbook.com/stocks/QAI/) | $202.7K | 5,625 | 0.1% | 2 |
| LOANDEPOT INC | [LDI](https://holderbook.com/stocks/LDI/) | $9.5K | 16,129 | 0.0% | 4 |

## 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 | +10.8% | +14.8% | -4.0% | 100% |
| Q1 2026 | -0.1% | -4.6% | +4.6% | 100% |
| Q4 2025 | +2.3% | +2.4% | -0.0% | 100% |
| Q3 2025 | +6.1% | +7.8% | -1.7% | 98% |
| Q2 2025 | +6.8% | +10.5% | -3.7% | 100% |
| Q1 2025 | -0.9% | -4.6% | +3.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2026 | $153.3M | 87 |
| Q2 2026 | $147.3M | 81 |
| Q1 2026 | $131.9M | 76 |
| Q4 2025 | $124.4M | 74 |
| Q3 2025 | $116.8M | 70 |
| Q2 2025 | $106.4M | 66 |
| Q1 2025 | $94.8M | 63 |
| Q4 2024 | $93.2M | 63 |