Institutional Manager · CIK 0002052759

May Barnhard Investments LLC

BETHESDA, MD · File #028-24848

Latest AUM

$211.6M

Positions

Top-10 Concentration

45.4%

Filings

Portfolio Value Over Time

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
ADD	VANGUARD INDEX FDS	922908744	+5,720	+$1.1M	+$124,109
REDUCE	SCHWAB STRATEGIC TR	808524201	-35,652	-$959,396	+$331,958
REDUCE	SCHWAB STRATEGIC TR	808524300	-28,009	-$913,656	+$276,399
REDUCE	SCHWAB STRATEGIC TR	808524409	-23,089	-$683,667	+$153,283
REDUCE	ISHARES TR	464287507	-9,637	-$636,049	+$62,870
REDUCE	ISHARES TR	464287804	-5,254	-$631,430	+$115,901
REDUCE	MICROSOFT CORP	MSFT	-1,059	-$512,388	-$95,523
ADD	SELECT SECTOR SPDR TR	81369Y886	+11,863	+$506,436	-$528,132
REDUCE	INVESCO QQQ TR	IVZ	-737	-$452,766	+$165,197
EXITED	VANGUARD BD INDEX FDS	921937827	-5,516	-$435,254	$0

Sector Allocation

Financials

4.4%$9.2M

Technology

2.5%$5.3M

Consumer Discretionary

1.5%$3.2M

Healthcare

0.7%$1.4M

Industrials

0.4%$799,557

Communication Services

0.3%$613,224

Filing History

Jan 28, 202613F HOLDINGS REPORTQ/E Dec 202584 pos · $211.6M
Nov 6, 202513F HOLDINGS REPORTQ/E Sep 202584 pos · $215.7M
Jul 29, 202513F HOLDINGS REPORTQ/E Jun 202590 pos · $214.2M
Apr 16, 202513F HOLDINGS REPORTQ/E Mar 202592 pos · $200.4M
Apr 8, 202513F HOLDINGS REPORTQ/E Mar 202580 pos · $199.8M
Apr 8, 202513F HOLDINGS REPORTQ/E Mar 202582 pos · $193.8M
Apr 8, 202513F HOLDINGS REPORTQ/E Mar 202582 pos · $194.4M
Apr 8, 202513F HOLDINGS REPORTQ/E Mar 202582 pos · $204.7M
Feb 10, 202513F HOLDINGS REPORTQ/E Dec 202482 pos · $210.2M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	SCHWAB STRATEGIC TR	808524201	546,716	$14.7M	7.43%
2	SCHWAB STRATEGIC TR	808524300	361,234	$11.8M	5.95%
3	VANGUARD INDEX FDS	922908629	37,393	$10.9M	5.48%
4	ISHARES TR	464287804	80,506	$9.7M	4.88%
5	SCHWAB STRATEGIC TR	808524409	283,449	$8.4M	4.24%
6	ISHARES TR	464287879	70,155	$8.0M	4.03%
7	INVESCO QQQ TR	IVZ	11,105	$6.8M	3.44%
8	VANGUARD INDEX FDS	922908512	38,095	$6.8M	3.41%
9	VANGUARD INDEX FDS	922908637	21,280	$6.7M	3.38%
10	VANGUARD INDEX FDS	922908744	33,294	$6.4M	3.21%
11	SPDR SERIES TRUST	78464A839	67,812	$5.7M	2.90%
12	VANGUARD INDEX FDS	922908538	19,849	$5.5M	2.80%
13	VANGUARD INDEX FDS	922908595	17,853	$5.4M	2.72%
14	VANGUARD INDEX FDS	922908736	10,999	$5.4M	2.71%
15	ISHARES TR	464287473	37,179	$5.2M	2.65%
16	VANGUARD INDEX FDS	922908751	20,294	$5.2M	2.64%
17	SPDR SERIES TRUST	78464A821	56,067	$5.2M	2.62%
18	ISHARES TR	464287507	75,223	$5.0M	2.51%
19	ISHARES TR	464287481	36,016	$4.9M	2.49%
20	ISHARES TR	464287887	32,428	$4.6M	2.31%