Absolute Capital Management, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Absolute Capital Management, LLC reported 123 stock positions worth $199.0 million. Its top holding was Vaneck Semiconductor ETF (SMH) at 6.0% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 5.2%) and SS Technology Select Sector (XLK, 3.4%). Compared with Q1 2025, it opened 13 new positions, sold out of 8, added to 51 and reduced 52. The biggest buy was Fidelity Momentum Factor ETF (FDMO, shares +140%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −44%).

Most Recent 13F
Q2 2026
Location
Pittsburgh, PA
CIK
0001817648
Portfolio Value
$199.0M (Q2 2025)
SEC Filing
0001172661-25-003035 ↗ filed Aug 12, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $156.7M Q1 2024 Q2 2024: $165.1M Q2 2024 Q3 2024: $168.3M Q3 2024 Q4 2024: $180.8M Q4 2024 Q1 2025: $173.0M Q1 2025 Q2 2025: $199.0M $199.0M Q2 2025 Q3 2025: $233.4M Q3 2025 Q4 2025: $274.5M Q4 2025 Q1 2026: $301.0M Q1 2026 Q2 2026: $400.8M Q2 2026

Holdings 123 stocks · $199.0M
SMH Vaneck Semiconductor ETF 5.97% 42,624 $11.9M Add +2.4%
QQQ Invesco QQQ Trust Series 1 5.25% 18,930 $10.4M Add +2.7%
XLK SS Technology Select Sector 3.41% 26,770 $6.8M Reduce -0.1%
VLU SS SPDR S&P 1500 Value Tilt 3.40% 35,200 $6.8M No change
BRK.A Berkshire Hathaway Inc. Class A 3.30% 9 $6.6M Add +12.5%
SPY SS SPDR S&P 500 ETF Trust-US 3.14% 10,098 $6.2M Add +3.3%
DIVB iShares Core Dividend ETF 3.06% 121,000 $6.1M No change
SOXX iShares Semiconductor ETF 2.83% 23,550 $5.6M Reduce -12.3%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 2.52% 11,400 $5.0M No change
VOX Vanguard Communication Servi 2.52% 29,295 $5.0M Reduce -8.9%
RWL Invesco S&P 500 Revenue ETF 2.10% 40,154 $4.2M Add +43.0%
VTI VG Morningstar TS MKT ETF-US 2.09% 13,673 $4.2M Add +4.2%
ILCG iShares Morningstar Growth E 1.73% 35,504 $3.4M Reduce -27.5%
USMV iShares MSCI USA Min Vol Fac 1.70% 35,999 $3.4M Reduce -2.9%
FDMO Fidelity Momentum Factor ETF 1.68% 44,100 $3.3M Add +139.7%
QUAL iShares MSCI USA Quality Fac 1.63% 17,716 $3.2M Add +3.8%
VGT Vanguard Info Tech ETF 1.62% 4,870 $3.2M Reduce -0.4%
GS Goldman Sachs Group Inc. 1.53% 4,288 $3.0M Reduce -0.3%
NFLX Netflix Inc. 1.45% 2,150 $2.9M Add +0.7%
JAAA Janus Henderson Aaa Clo ETF 1.32% 51,884 $2.6M Add +128.5%
VDC Vanguard Consumer Staple ETF 1.29% 11,718 $2.6M Reduce -0.3%
IUSB Ishr CR Unvrse Usd BD ETF-Ui 1.27% 54,808 $2.5M Reduce -3.3%
VOO Vanguard S&P 500 ETF 1.19% 4,162 $2.4M Add +33.3%
IVV iShares Core S&P 500 ETF 1.15% 3,688 $2.3M Reduce -44.1%
BRK.B Berkshire Hathaway Inc. Class B 1.14% 4,684 $2.3M Add +0.4%
IGIB iShares 5-10Y Inv Grade Corp. 1.11% 41,271 $2.2M Reduce -2.7%
COST Costco Wholesale Corp. 1.10% 2,202 $2.2M Add +1.1%
VEA Vanguard Ftse Developed ETF 1.09% 37,868 $2.2M Add +2.1%
IJR iShares Core S&P Small-Cap E 1.06% 19,241 $2.1M Reduce -0.0%
V Visa Inc. Class A 1.04% 5,800 $2.1M Reduce -0.2%
IWM iShares Russell 2000 ETF 1.01% 9,282 $2.0M Add +0.3%
MSFT Microsoft Corp. 1.01% 4,025 $2.0M Reduce -22.6%
VUG Vanguard Mrngstar GR ETF-Sui 1.00% 4,554 $2.0M Add +10.4%
EZU iShares MSCI Eurozone ETF 0.99% 33,041 $2.0M New
CGGR Cap Group Growth Equity 0.97% 47,672 $1.9M Reduce -0.4%
IVW iShares S&P 500 Growth ETF 0.96% 17,381 $1.9M Reduce -5.1%
VCLT Vanguard Long-Term Corp. Bond 0.92% 24,218 $1.8M Reduce -3.0%
ILCV iShares Morningstar Value Et 0.86% 20,500 $1.7M No change
EFV iShares MSCI Eafe Value ETF 0.83% 26,140 $1.7M Add +69.7%
BNDX Vanguard Total Intl Bond ETF 0.81% 32,600 $1.6M Add +2.6%
DIVI Franklin International Core 0.81% 45,000 $1.6M No change
VTV Vanguard Mrngstr Val ETF-Aui 0.78% 8,730 $1.6M Add +15.6%
IWB iShares Russell 1000 ETF 0.76% 4,467 $1.5M Add +0.2%
DYNF Ishrs US E F R A ETF-Usd Inc. 0.75% 27,367 $1.5M Add +8.5%
ITA iShares U.S. Aerospace & Def 0.71% 7,518 $1.4M Reduce -31.9%
IBHF iShares Ibond 2026 HY & Inc. 0.71% 61,035 $1.4M Reduce -4.8%
IVE iShares S&P 500 Value ETF 0.71% 7,182 $1.4M Add +24.7%
VXUS Vanguard Total Intl Stock 0.66% 18,952 $1.3M Add +8.3%
HEFA Isha Curr Hedged MSCI Eafe 0.66% 34,453 $1.3M Reduce -16.6%
BSV Vanguard Short-Term Bond ETF 0.63% 16,025 $1.3M Add +18.1%
IEMG iShares Core MSCI Emerging 0.59% 19,492 $1.2M Add +89.5%
XLV SS Health Care Select Sector 0.58% 8,624 $1.2M Reduce -2.8%
XLF SS Financial Select Sector 0.58% 22,133 $1.2M Add +28.6%
SHY iShares 1-3 Year Treasury Bo 0.56% 13,492 $1.1M Reduce -1.2%
BX Blackstone Inc. 0.56% 7,407 $1.1M Reduce -8.0%
BND Vanguard Total Bond Market 0.50% 13,632 $1.0M Reduce -6.9%
BSJQ Invesco Bulletshares 2026 HY 0.47% 40,476 $944K Reduce -7.5%
ITW Illinois Tool Works 0.45% 3,607 $892K New
ECL Ecolab Inc. 0.45% 3,300 $889K New
JPM JPMorgan Chase & Co. 0.45% 3,066 $889K Add +0.3%
BIV Vanguard Intermediate-Term B 0.45% 11,490 $889K Add +52.5%
DFUV Dimensional US Marketwide Va 0.44% 20,532 $868K Reduce -8.3%
GLDM SPDR Gold Minishares Trust 0.43% 13,136 $861K New
VWO Vanguard Ftse Emerging Marke 0.43% 17,368 $859K Add +3.6%
XHS SS SPDR S&P HC Services ETF 0.38% 7,600 $757K No change
NVDA Nvidia Corp. 0.38% 4,787 $756K Add +5.1%
TLH iShares 10-20 Year Treasury 0.37% 7,223 $734K Add +34.2%
EFG iShares MSCI Eafe Growth ETF 0.34% 6,081 $681K Add +7.3%
OEF iShares S&P 100 ETF 0.34% 2,233 $680K Add +58.8%
THRO iShares U.S. Thematic Rotati 0.34% 19,087 $679K New
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.33% 11,982 $652K Reduce -4.0%
BLV Vanguard Long-Term Bond ETF 0.32% 9,104 $633K Add +29.6%
XLSR SS US Sector Rotation 0.31% 11,275 $619K Add +6.8%
MTUM iShares MSCI USA Momentum Fa 0.31% 2,544 $612K Add +30.7%
UWM Proshares Ultra RUSSELL2000 0.30% 16,064 $605K Add +8.6%
VMBS Vanguard Mortgage-Backed Sec 0.30% 12,934 $599K Add +4.7%
MBB iShares MBS ETF 0.30% 6,348 $596K Add +3.6%
SHYG iShares 0-5 YR HY Corp. Bond 0.29% 13,390 $578K Reduce -13.6%
IJH iShares Core S&P Midcap ETF 0.29% 9,295 $576K Add +2.0%
PWR Quanta Services Inc. 0.28% 1,500 $567K Reduce -10.4%
VHT Vanguard Health Care ETF 0.27% 2,195 $545K Reduce -5.0%
IAGG iShares Intl Aggregate Bond 0.27% 10,551 $539K New
BNDC NT Core Bond ETF 0.27% 23,822 $530K Reduce -3.1%
AAPL Apple Inc. 0.26% 2,562 $526K Add +8.2%
UNH Unitedhealth Group Inc. 0.25% 1,616 $504K New
IYW iShares Ustechnology ETF 0.25% 2,876 $498K Reduce -59.2%
MO Altria Group Inc. 0.24% 8,200 $481K No change
META Meta Platforms Inc. Class A 0.24% 647 $478K Add +2.5%
FMAT Fidelity MSCI Materials Indx 0.23% 9,314 $464K Reduce -5.7%
XLI SS Industrial Select Sector 0.23% 3,048 $450K Reduce -7.3%
FISR SS Fi Sector Rotation 0.22% 16,996 $439K Add +22.0%
SPMO Invesco S&P 500 Momentum ETF 0.22% 3,841 $432K Add +23.9%
DLN Wisdomtree US Largecap Divid 0.21% 5,186 $426K Reduce -11.5%
BINC iShares Flex I A ETF-Usd Inc. 0.21% 7,777 $411K Add +7.7%
VB Vanguard Most SM-Cap ETF-Usd 0.21% 1,723 $410K Add +10.5%
SPYM Ste STR SPDR PT S&P 500 ETF 0.19% 5,288 $384K Add +1.8%
HYDB iShares High Yield Systemati 0.19% 8,070 $383K Reduce -17.7%
AMZN Amazon.com Inc. 0.19% 1,744 $383K Add +18.5%
SPEM State Street SP PTF Em ETF 0.19% 8,901 $380K Reduce -24.5%
TDTT NT Iboxx 3Y Dur Tips ETF 0.18% 15,051 $365K Reduce -4.5%
GOOGL Alphabet Inc. Class A 0.18% 2,068 $365K Reduce -3.5%
XMHQ Invesco S&P Midcap Qual ETF 0.17% 3,385 $333K Add +1.3%
QDF NT Qual Div ETF 0.16% 4,405 $322K Reduce -11.1%
SPDW Ste STR SPDR PT DW Eu ETF 0.16% 7,795 $316K Reduce -53.5%
AGG iShares Core U.S. Aggregate 0.15% 3,068 $304K Add +31.6%
BAI Ishrs AI in and Tech Act ETF 0.14% 9,836 $284K New
AVGO Broadcom Inc. 0.14% 1,024 $282K New
SPLB SS SPDR P Long Term C ETF 0.14% 12,499 $282K Reduce -2.4%
QQH HCM Defender 100 Index ETF 0.14% 4,026 $272K Reduce -6.3%
ICVT iShares Convertible Bond ETF 0.14% 2,998 $270K Reduce -18.9%
LGH HCM Defender 500 Index ETF 0.13% 4,897 $267K Reduce -6.4%
IQDF NT Intl Qual Div ETF 0.13% 9,825 $266K Reduce -8.1%
IAU iShares Gold Trust 0.13% 4,264 $266K Reduce -27.8%
IEFA iShares Core MSCI Eafe ETF 0.13% 3,134 $262K Add +6.6%
FNGS Microsectors Fang+ Etns filed as BANK MONTREAL MEDIUM 0.13% 4,000 $261K New
HYGV NT HY Val-SCRD BD ETF 0.13% 6,253 $257K Reduce -13.8%
CWB SS SPDR BB Conv Sec ETF 0.12% 2,932 $242K Reduce -5.9%
MA Mastercard Inc. Class A 0.12% 418 $235K New
FLDR Fidelity Low Durat Fact ETF 0.12% 4,576 $229K Reduce -10.3%
BBUS JPMorgan Betabuilders US Equ 0.11% 2,028 $227K Reduce -8.4%
IWF iShares Russell 1000 Growth 0.11% 529 $225K New
FDLO Fidelity Low Volat Fact ETF 0.11% 3,473 $218K Reduce -25.5%
SPYG SS SPDR P S&P 500 Growth ETF 0.11% 2,197 $209K New

Portfolio Sells Q1 2025 → Q2 2025
IVV iShares Core S&P 500 ETF Reduce -44.1% 1.15% −0.99
ILCG iShares Morningstar Growth E Reduce -27.5% 1.73% −0.56
IYW iShares Ustechnology ETF Reduce -59.2% 0.25% −0.32
USMV iShares MSCI USA Min Vol Fac Reduce -2.9% 1.70% −0.31
BAX Baxter International Inc. Sold out 0.00% −0.28
ITA iShares U.S. Aerospace & Def Reduce -31.9% 0.71% −0.27
EMXC iShares MSCI Emr MRK Ex Chna Sold out 0.00% −0.26
VOX Vanguard Communication Servi Reduce -8.9% 2.52% −0.24
IUSB Ishr CR Unvrse Usd BD ETF-Ui Reduce -3.3% 1.27% −0.24
BIL SS SPDR BB 1-3M T-Bill ETF Sold out 0.00% −0.23
HEFA Isha Curr Hedged MSCI Eafe Reduce -16.6% 0.66% −0.21
VDC Vanguard Consumer Staple ETF Reduce -0.3% 1.29% −0.20
SPDW Ste STR SPDR PT DW Eu ETF Reduce -53.5% 0.16% −0.19
IGIB iShares 5-10Y Inv Grade Corp. Reduce -2.7% 1.11% −0.18
VCLT Vanguard Long-Term Corp. Bond Reduce -3.0% 0.92% −0.17
XLV SS Health Care Select Sector Reduce -2.8% 0.58% −0.16
GLD SPDR Gold Shares Sold out 0.00% −0.16
GEHC GE Healthcare Technology Sold out 0.00% −0.15
IBHF iShares Ibond 2026 HY & Inc. Reduce -4.8% 0.71% −0.15
SCHR Schwab Intermediate-Term US Sold out 0.00% −0.14
V Visa Inc. Class A Reduce -0.2% 1.04% −0.14
MSFT Microsoft Corp. Reduce -22.6% 1.01% −0.12
BND Vanguard Total Bond Market Reduce -6.9% 0.50% −0.12
TOTL SS Doubleline TR Tact ETF Sold out 0.00% −0.12
IBDW iShares Ibonds Dec 2031 Corp. Sold out 0.00% −0.12
BSJQ Invesco Bulletshares 2026 HY Reduce -7.5% 0.47% −0.11
IJR iShares Core S&P Small-Cap E Reduce -0.0% 1.06% −0.11
DFUV Dimensional US Marketwide Va Reduce -8.3% 0.44% −0.10
SOXX iShares Semiconductor ETF Reduce -12.3% 2.83% −0.10
BX Blackstone Inc. Reduce -8.0% 0.56% −0.09
SHY iShares 1-3 Year Treasury Bo Reduce -1.2% 0.56% −0.09
SHYG iShares 0-5 YR HY Corp. Bond Reduce -13.6% 0.29% −0.09
VHT Vanguard Health Care ETF Reduce -5.0% 0.27% −0.08
SPEM State Street SP PTF Em ETF Reduce -24.5% 0.19% −0.08
HYDB iShares High Yield Systemati Reduce -17.7% 0.19% −0.07
IAU iShares Gold Trust Reduce -27.8% 0.13% −0.07
DLN Wisdomtree US Largecap Divid Reduce -11.5% 0.21% −0.05
FDLO Fidelity Low Volat Fact ETF Reduce -25.5% 0.11% −0.05
BNDC NT Core Bond ETF Reduce -3.1% 0.27% −0.05
JEPQ JPM Nasdaq Equity Premium Reduce -4.0% 0.33% −0.05
ICVT iShares Convertible Bond ETF Reduce -18.9% 0.14% −0.04
FMAT Fidelity MSCI Materials Indx Reduce -5.7% 0.23% −0.04
HYGV NT HY Val-SCRD BD ETF Reduce -13.8% 0.13% −0.04
TDTT NT Iboxx 3Y Dur Tips ETF Reduce -4.5% 0.18% −0.04
QDF NT Qual Div ETF Reduce -11.1% 0.16% −0.03
FLDR Fidelity Low Durat Fact ETF Reduce -10.3% 0.12% −0.03
SPLB SS SPDR P Long Term C ETF Reduce -2.4% 0.14% −0.03
XLI SS Industrial Select Sector Reduce -7.3% 0.23% −0.02
IVW iShares S&P 500 Growth ETF Reduce -5.1% 0.96% −0.02
IQDF NT Intl Qual Div ETF Reduce -8.1% 0.13% −0.02

Portfolio Buys Q1 2025 → Q2 2025
FDMO Fidelity Momentum Factor ETF Add +139.7% 1.68% +0.99
EZU iShares MSCI Eurozone ETF New 0.99% +0.99
SMH Vaneck Semiconductor ETF Add +2.4% 5.97% +0.89
JAAA Janus Henderson Aaa Clo ETF Add +128.5% 1.32% +0.66
RWL Invesco S&P 500 Revenue ETF Add +43.0% 2.10% +0.49
ITW Illinois Tool Works New 0.45% +0.45
ECL Ecolab Inc. New 0.45% +0.45
GLDM SPDR Gold Minishares Trust New 0.43% +0.43
THRO iShares U.S. Thematic Rotati New 0.34% +0.34
EFV iShares MSCI Eafe Value ETF Add +69.7% 0.83% +0.31
NFLX Netflix Inc. Add +0.7% 1.45% +0.30
IAGG iShares Intl Aggregate Bond New 0.27% +0.27
IEMG iShares Core MSCI Emerging Add +89.5% 0.59% +0.27
VOO Vanguard S&P 500 ETF Add +33.3% 1.19% +0.26
UNH Unitedhealth Group Inc. New 0.25% +0.25
QQQ Invesco QQQ Trust Series 1 Add +2.7% 5.25% +0.25
BAI Ishrs AI in and Tech Act ETF New 0.14% +0.14
AVGO Broadcom Inc. New 0.14% +0.14
FNGS Microsectors Fang+ Etns New 0.13% +0.13
OEF iShares S&P 100 ETF Add +58.8% 0.34% +0.12
VUG Vanguard Mrngstar GR ETF-Sui Add +10.4% 1.00% +0.12
MA Mastercard Inc. Class A New 0.12% +0.12
BIV Vanguard Intermediate-Term B Add +52.5% 0.45% +0.11
IWF iShares Russell 1000 Growth New 0.11% +0.11
SPYG SS SPDR P S&P 500 Growth ETF New 0.11% +0.11
NVDA Nvidia Corp. Add +5.1% 0.38% +0.09
XLF SS Financial Select Sector Add +28.6% 0.58% +0.09
MTUM iShares MSCI USA Momentum Fa Add +30.7% 0.31% +0.08
IVE iShares S&P 500 Value ETF Add +24.7% 0.71% +0.07
SPMO Invesco S&P 500 Momentum ETF Add +23.9% 0.22% +0.05
TLH iShares 10-20 Year Treasury Add +34.2% 0.37% +0.05
DYNF Ishrs US E F R A ETF-Usd Inc. Add +8.5% 0.75% +0.04
BLV Vanguard Long-Term Bond ETF Add +29.6% 0.32% +0.03
AMZN Amazon.com Inc. Add +18.5% 0.19% +0.03
META Meta Platforms Inc. Class A Add +2.5% 0.24% +0.03
VXUS Vanguard Total Intl Stock Add +8.3% 0.66% +0.03
VTV Vanguard Mrngstr Val ETF-Aui Add +15.6% 0.78% +0.03
BSV Vanguard Short-Term Bond ETF Add +18.1% 0.63% +0.02
AGG iShares Core U.S. Aggregate Add +31.6% 0.15% +0.02
UWM Proshares Ultra RUSSELL2000 Add +8.6% 0.30% +0.02
EFG iShares MSCI Eafe Growth ETF Add +7.3% 0.34% +0.01
JPM JPMorgan Chase & Co. Add +0.3% 0.45% +0.01
FISR SS Fi Sector Rotation Add +22.0% 0.22% +0.01
VB Vanguard Most SM-Cap ETF-Usd Add +10.5% 0.21% +0.01
VTI VG Morningstar TS MKT ETF-US Add +4.2% 2.09% +0.01
IEFA iShares Core MSCI Eafe ETF Add +6.6% 0.13% +0.00
XLSR SS US Sector Rotation Add +6.8% 0.31% +0.00
SPYM Ste STR SPDR PT S&P 500 ETF Add +1.8% 0.19% −0.00
VEA Vanguard Ftse Developed ETF Add +2.1% 1.09% −0.00
VWO Vanguard Ftse Emerging Marke Add +3.6% 0.43% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 162$400.8MIVV, SOXX, QQQ, DIVB, VLU
Q1 2026 146$301.0MQQQ, VLU, DIVB, SOXX, IVV
Q4 2025 133$274.5MSMH, QQQ, DIVB, SPY, VLU
Q3 2025 120$233.4MSMH, QQQ, DIVB, VLU, SPY
Q2 2025 123$199.0MSMH, QQQ, XLK, VLU, BRK.A
Q1 2025 118$173.0MSMH, QQQ, VLU, BRK.A, DIVB
Q4 2024 121$180.8MSMH, QQQ, VLU, XLK, SPY
Q3 2024 107$168.3MSMH, QQQ, SPY, VLU, SOXX
Q2 2024 105$165.1MSMH, QQQ, VTI, RSP, SOXX
Q1 2024 104$156.7MQQQ, SMH, RWL, SPHD, VTI