Institutional Manager · CIK 0001821626

State of Wyoming

CHEYENNE, WY · File #028-21659

Latest AUM

$913.0M

Positions

1,783

Top-10 Concentration

75.3%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	APPLE INC	AAPL	-31,686	-$8.6M	+$995,550
ADD	NVIDIA CORPORATION	NVDA	+24,776	+$4.6M	-$6,410
REDUCE	ISHARES TR	464288240	-59,193	-$4.0M	+$213,198
EXITED	WARNER BROS DISCOVERY INC	934423104	-200,010	-$3.9M	$0
ADD	MICROSOFT CORP	MSFT	+7,774	+$3.8M	-$915,821
REDUCE	META PLATFORMS INC	META	-4,203	-$2.8M	-$736,066
NEW	ISHARES TR	464287234	+49,110	+$2.7M	$0
REDUCE	VISA INC	V	-6,416	-$2.3M	+$87,731
REDUCE	TORONTO DOMINION BK ONT	TORO	-23,730	-$2.2M	+$370,875
REDUCE	WESTERN DIGITAL CORP	WDC	-12,130	-$2.1M	+$846,479

Sector Allocation

Technology

15.7%$143.3M

Industrials

9.0%$82.1M

Healthcare

7.2%$65.9M

Consumer Discretionary

6.8%$62.2M

Financials

3.4%$31.4M

Communication Services

2.7%$24.8M

2.5%$22.9M

1.9%$17.7M

1.9%$17.4M

0.9%$8.0M

0.8%$7.0M

Filing History

Feb 11, 202613F HOLDINGS REPORTQ/E Dec 20251,783 pos · $913.0M
Nov 4, 202513F HOLDINGS REPORTQ/E Sep 20251,816 pos · $877.3M
Aug 19, 202513F HOLDINGS REPORTQ/E Jun 20251,829 pos · $818.4M
May 14, 202513F HOLDINGS REPORTQ/E Mar 20251,621 pos · $754.3M
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 20241,588 pos · $783.9M
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 20241,668 pos · $700.7M
Aug 14, 202413F HOLDINGS REPORTQ/E Jun 20241,641 pos · $607.5M
May 14, 202413F HOLDINGS REPORTQ/E Mar 20241,600 pos · $600.7M
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20231,588 pos · $464.4M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	SPDR S&P 500 ETF TR	SPY	265,545	$181.1M	45.16%
2	ISHARES TR	464287465	367,422	$35.3M	8.80%
3	NVIDIA CORPORATION	NVDA	104,898	$19.6M	4.88%
4	MICROSOFT CORP	MSFT	34,451	$16.7M	4.16%
5	ISHARES INC	46434G764	173,396	$12.6M	3.14%
6	IES HLDGS INC	IESC	23,262	$9.0M	2.26%
7	ALPHABET INC	GOOG	25,505	$8.0M	1.99%
8	APPLE INC	AAPL	26,094	$7.1M	1.77%
9	ALPHABET INC	GOOG	20,474	$6.4M	1.60%
10	ISHARES INC	46434G772	100,280	$6.4M	1.59%
11	ISHARES TR	46429B598	93,060	$5.0M	1.25%
12	ISHARES INC	464286509	90,607	$4.9M	1.22%
13	TAIWAN SEMICONDUCTOR MFG LTD	874039100	14,120	$4.3M	1.07%
14	AMAZON COM INC	AMZN	17,066	$3.9M	0.98%
15	META PLATFORMS INC	META	5,705	$3.8M	0.94%
16	SPOTIFY TECHNOLOGY S A	SPOT	5,625	$3.3M	0.81%
17	INTERACTIVE BROKERS GROUP IN	45841N107	49,352	$3.2M	0.79%
18	QUANTA SVCS INC	74762E102	7,293	$3.1M	0.77%
19	UPWORK INC	UPWK	146,941	$2.9M	0.73%
20	MASTERCARD INCORPORATED	MA	5,075	$2.9M	0.72%