Avalon Capital Management
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 16, 2026), Avalon Capital Management reported 126 stock positions worth $422.4 million. Its top holding was Alphabet Class A (GOOGL) at 12.8% of the portfolio, followed by Vaneck Semiconductor ETF (SMH, 7.4%) and Vaneck Gold Miners ETF (GDX, 5.9%). Compared with Q1 2026, it opened 17 new positions, sold out of 12, added to 43 and reduced 30. The biggest buy was a new position in Schwab US Small-Cap ETF (SCHA) and the biggest sale Invesco Optimum Yield Divers (PDBC, shares −49%).
- Most Recent 13F
- Q2 2026
- Location
- Port Of Redwood City, CA
- CIK
- 0001510809
- Portfolio Value
- $422.4M (Q2 2026)
- SEC Filing
- 0001172661-26-002649 ↗ filed Jul 16, 2026
Holdings Value
Holdings 126 stocks · $422.4M
| GOOGL Alphabet Inc. Class A | 12.77% | 150,922 | $53.9M | Add +10.7% |
| SMH Vaneck Semiconductor ETF | 7.45% | 47,957 | $31.5M | Add +2.7% |
| GDX Vaneck Gold Miners ETF | 5.91% | 331,077 | $25.0M | Add +31.4% |
| GLD SPDR Gold Shares | 5.52% | 63,245 | $23.3M | Add +68.8% |
| GOOG Alphabet Inc. Class C | 5.36% | 64,136 | $22.7M | Add +0.8% |
| CSCO Cisco Systems Inc. | 4.26% | 153,311 | $18.0M | No change |
| LLY Eli Lilly & Co. | 3.88% | 13,646 | $16.4M | Add +80.0% |
| AMZN Amazon.com Inc. | 3.64% | 64,566 | $15.4M | Add +23.6% |
| IEMG iShares Core MSCI Emerging | 3.47% | 176,895 | $14.7M | Add +2.4% |
| AAPL Apple Inc. | 3.16% | 46,166 | $13.4M | No change |
| SCHA Schwab US Small-Cap ETF | 2.94% | 343,708 | $12.4M | New |
| EMBX Vaneck Em Bond ETF | 2.59% | 212,985 | $10.9M | Add +30.2% |
| URA Global X Uranium ETF | 2.01% | 193,935 | $8.5M | Add +1.1% |
| PDBC Invesco Optimum Yield Divers | 1.90% | 505,048 | $8.0M | Reduce -49.1% |
| REMX Vaneck Rar Earth ND STG-Usdi | 1.89% | 90,344 | $8.0M | Add +4.7% |
| PWRD TCW Transform Systems ETF | 1.75% | 59,985 | $7.4M | Add +8.8% |
| SIL Global X Silver Miners ETF | 1.67% | 90,973 | $7.0M | Add +712.8% |
| DISV Dimensional International SM | 1.41% | 148,758 | $6.0M | Add +0.4% |
| EEM iShares MSCI Emerging Market | 1.32% | 81,554 | $5.6M | No change |
| MSFT Microsoft Corp. | 1.23% | 13,901 | $5.2M | Reduce -0.2% |
| DIVO Amplify CWP Enhan Divid ETF | 1.07% | 98,852 | $4.5M | Add +1.2% |
| MOAT Vaneck Morningstar Wide Moat | 0.97% | 39,572 | $4.1M | Add +0.1% |
| RAAX Vaneck Real Assets ETF | 0.86% | 92,066 | $3.7M | Add +1.9% |
| DTCR Global X Data Center & Digit | 0.86% | 120,097 | $3.6M | Add +0.3% |
| CVX Chevron Corp. | 0.78% | 19,791 | $3.3M | Reduce -61.4% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.72% | 13,963 | $3.0M | Add +5.0% |
| XLE SS Energy Select Sector | 0.71% | 56,795 | $3.0M | New |
| XBI SS SPDR S&P Biotech ETF | 0.69% | 18,523 | $2.9M | New |
| GPIX GLDM SA S&P 500 PR in ETF-US | 0.68% | 51,921 | $2.9M | No change |
| NVDA Nvidia Corp. | 0.66% | 13,837 | $2.8M | Reduce -2.1% |
| SLV iShares Silver Trust | 0.64% | 50,646 | $2.7M | Reduce -0.7% |
| SCJ iShares MSCI Japan Small-Cap | 0.61% | 24,601 | $2.6M | Add +19.3% |
| IYW iShares Ustechnology ETF | 0.61% | 10,265 | $2.6M | New |
| GEV GE Vernova Inc. | 0.59% | 2,113 | $2.5M | Reduce -16.4% |
| SHV iShares 0-1 Year Treasury Bo | 0.58% | 22,039 | $2.4M | Add +199.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.55% | 4,632 | $2.3M | Reduce -0.4% |
| XME SS SPDR S&P Metals Mining | 0.53% | 20,960 | $2.2M | Reduce -0.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.50% | 2,868 | $2.1M | Add +20.3% |
| AOK iShares Core 30/70 Conservat | 0.50% | 50,746 | $2.1M | Reduce -1.3% |
| AEM Agnico Eagle Mines Ltd. | 0.47% | 12,730 | $2.0M | No change |
| IAU iShares Gold Trust | 0.46% | 25,659 | $1.9M | Reduce -43.8% |
| LCR Leuthold Core ETF filed as MANAGED PORTFOLIO SER | 0.44% | 47,238 | $1.9M | Reduce -2.0% |
| DGRW Wisdomtree U.S. Quality Divi | 0.42% | 18,514 | $1.8M | Reduce -0.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.40% | 3,580 | $1.7M | Add +10.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.38% | 2,136 | $1.6M | Add +27.2% |
| ANET Arista Networks Inc. | 0.37% | 9,100 | $1.5M | Add +17.7% |
| V Visa Inc. Class A | 0.36% | 4,425 | $1.5M | Add +2.0% |
| QUAL iShares MSCI USA Quality Fac | 0.33% | 6,316 | $1.4M | Reduce -3.2% |
| ILF iShares Latin America 40 ETF | 0.32% | 40,535 | $1.4M | Reduce -83.2% |
| WPM Wheaton Precious Metals Corp. | 0.31% | 11,728 | $1.3M | Add +208.6% |
| GSST Goldman Sachs Ultra Short Bo | 0.31% | 25,641 | $1.3M | Add +3.0% |
| EMB iShares JP Morgan Usd Emergi | 0.30% | 13,278 | $1.3M | Reduce -13.1% |
| LRCX Lam Research Corp. | 0.29% | 2,864 | $1.2M | Add +59.6% |
| COST Costco Wholesale Corp. | 0.28% | 1,257 | $1.2M | No change |
| ET Energy Transfer LP | 0.27% | 60,000 | $1.1M | No change |
| XAR SS SPDR S&P Aerospace Def | 0.25% | 3,721 | $1.1M | No change |
| SCHD Schwab US DVD Equity ETF | 0.23% | 31,050 | $985K | No change |
| ORCL Oracle Corp. | 0.23% | 6,678 | $979K | Reduce -1.7% |
| ULTA Ulta Beauty Inc. | 0.22% | 2,060 | $929K | Add +22.3% |
| HEI Heico Corp. | 0.22% | 2,607 | $929K | Add +6.4% |
| CNQ Canadian Natural Resources | 0.21% | 22,138 | $874K | Reduce -16.6% |
| NLR Vaneck Urani & Nuclr ETF-Usd | 0.20% | 7,467 | $866K | Add +339.2% |
| XLK SS Technology Select Sector | 0.19% | 4,288 | $817K | No change |
| AVGO Broadcom Inc. | 0.19% | 2,125 | $803K | Add +109.6% |
| XLI SS Industrial Select Sector | 0.18% | 4,121 | $763K | No change |
| XOM Exxon Mobil Corp. | 0.16% | 4,867 | $665K | Add +10.4% |
| MPLX MPLX LP | 0.16% | 11,635 | $655K | No change |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 0.14% | 3,425 | $605K | No change |
| HL Hecla Mining Co. | 0.14% | 38,302 | $591K | Add +0.3% |
| VGT Vanguard Info Tech ETF | 0.14% | 4,880 | $583K | No change |
| VBIL Vanguard 0-3M T-Bill ETF | 0.14% | 7,600 | $575K | Add +1.5% |
| HODL Vaneck Bitcoin ETF | 0.13% | 33,716 | $560K | Reduce -8.1% |
| EWW iShares MSCI Mexico ETF | 0.12% | 6,998 | $527K | Add +1.1% |
| VOO Vanguard S&P 500 ETF | 0.12% | 742 | $509K | Add +0.1% |
| META Meta Platforms Inc. Class A | 0.12% | 866 | $488K | Reduce -11.4% |
| TXN Texas Instruments Inc. | 0.11% | 1,615 | $481K | No change |
| KMI Kinder Morgan Inc. | 0.11% | 15,000 | $480K | No change |
| SCHW Schwab (charles) Corp. | 0.11% | 5,108 | $471K | Reduce -0.0% |
| CNI Canadian Natl Railway Co. | 0.11% | 3,887 | $463K | Add +13.8% |
| ARM Arm Holdings PLC-ADR | 0.10% | 1,198 | $425K | New |
| GE General Electric filed as GE AEROSPACE | 0.10% | 1,105 | $413K | Reduce -19.1% |
| VDE Vanguard Energy ETF | 0.10% | 2,718 | $408K | No change |
| VONV Vanguard Russell 1000 Value | 0.10% | 3,781 | $402K | No change |
| PLTR Palantir Technologies Inc. Class A | 0.09% | 3,395 | $396K | No change |
| TDG Transdigm Group Inc. | 0.09% | 276 | $368K | Reduce -1.4% |
| DVA Davita Inc. | 0.08% | 1,586 | $353K | Reduce -43.5% |
| FCX Freeport-McMoran Inc. | 0.08% | 5,540 | $348K | Reduce -0.9% |
| SLVP iShares MSCI Global Silver A | 0.08% | 10,943 | $337K | Reduce -41.1% |
| NJUL Innovator Growth 100 Power B | 0.08% | 4,294 | $332K | No change |
| APD Air Products & Chemicals Inc. | 0.08% | 1,105 | $324K | No change |
| VYM Vanguard High DVD Yield ETF | 0.08% | 2,038 | $322K | Add +0.6% |
| BP BP PLC-Spons ADR | 0.08% | 8,658 | $320K | No change |
| DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND | 0.08% | 611 | $319K | No change |
| PAAS Pan American Silver Corp. | 0.07% | 7,000 | $314K | No change |
| FICO Fair Isaac Corp. | 0.07% | 262 | $313K | New |
| MCHI iShares MSCI China ETF | 0.07% | 6,112 | $312K | Reduce -2.3% |
| DHR Danaher Corp. | 0.07% | 1,606 | $306K | No change |
| NEE Nextera Energy Inc. | 0.07% | 3,364 | $295K | No change |
| JPM JPMorgan Chase & Co. | 0.07% | 845 | $277K | No change |
| AMAT Applied Materials Inc. | 0.07% | 380 | $275K | New |
Options reported separately and not counted above: NLR calls ($464K), URA calls ($219K), OKLO calls ($209K), CCJ calls ($102K).
Portfolio Sells Q1 2026 → Q2 2026
| PDBC Invesco Optimum Yield Divers | Reduce -49.1% | 1.90% | −2.95 |
| CVX Chevron Corp. | Reduce -61.4% | 0.78% | −2.22 |
| ILF iShares Latin America 40 ETF | Reduce -83.2% | 0.32% | −2.09 |
| AMGN Amgen Inc. | Sold out | 0.00% | −1.23 |
| PIT Vaneck Commodity Strat ETF | Sold out | 0.00% | −1.01 |
| FDX FedEx Corp. | Sold out | 0.00% | −0.87 |
| IAU iShares Gold Trust | Reduce -43.8% | 0.46% | −0.68 |
| EUAD Select Stoxx Eur Aer DE ETF | Reduce -91.3% | 0.05% | −0.61 |
| SLV iShares Silver Trust | Reduce -0.7% | 0.64% | −0.34 |
| KROP Global X Agtech & Food Innov | Sold out | 0.00% | −0.25 |
| MSFT Microsoft Corp. | Reduce -0.2% | 1.23% | −0.23 |
| GBIL Goldman Sachs Access Treasur | Sold out | 0.00% | −0.17 |
| CNQ Canadian Natural Resources | Reduce -16.6% | 0.21% | −0.16 |
| RGLD Royal Gold Inc. | Sold out | 0.00% | −0.12 |
| XME SS SPDR S&P Metals Mining | Reduce -0.1% | 0.53% | −0.11 |
| NFLX Netflix Inc. | Reduce -39.7% | 0.06% | −0.11 |
| SLVP iShares MSCI Global Silver A | Reduce -41.1% | 0.08% | −0.11 |
| EMB iShares JP Morgan Usd Emergi | Reduce -13.1% | 0.30% | −0.10 |
| AOK iShares Core 30/70 Conservat | Reduce -1.3% | 0.50% | −0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 0.55% | −0.08 |
| DGX Quest Diagnostics Inc. | Sold out | 0.00% | −0.07 |
| NRP Natural Resource Partners LP | Sold out | 0.00% | −0.07 |
| FXF Invesco Currencyshares Swiss | Sold out | 0.00% | −0.07 |
| HODL Vaneck Bitcoin ETF | Reduce -8.1% | 0.13% | −0.07 |
| LCR Leuthold Core ETF | Reduce -2.0% | 0.44% | −0.06 |
| IGE iShares North American Natur | Sold out | 0.00% | −0.06 |
| AGI Alamos Gold Inc. Class A | Sold out | 0.00% | −0.06 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.06 |
| ORCL Oracle Corp. | Reduce -1.7% | 0.23% | −0.05 |
| DGRW Wisdomtree U.S. Quality Divi | Reduce -0.8% | 0.42% | −0.04 |
| META Meta Platforms Inc. Class A | Reduce -11.4% | 0.12% | −0.04 |
| NVDA Nvidia Corp. | Reduce -2.1% | 0.66% | −0.04 |
| DVA Davita Inc. | Reduce -43.5% | 0.08% | −0.04 |
| GEV GE Vernova Inc. | Reduce -16.4% | 0.59% | −0.04 |
| OXY Occidental Petroleum Corp. | Reduce -0.6% | 0.05% | −0.03 |
| MCHI iShares MSCI China ETF | Reduce -2.3% | 0.07% | −0.03 |
| QUAL iShares MSCI USA Quality Fac | Reduce -3.2% | 0.33% | −0.03 |
| SCHW Schwab (charles) Corp. | Reduce -0.0% | 0.11% | −0.02 |
| GE General Electric | Reduce -19.1% | 0.10% | −0.01 |
| FCX Freeport-McMoran Inc. | Reduce -0.9% | 0.08% | −0.01 |
| VWO Vanguard Ftse Emerging Marke | Reduce -5.5% | 0.06% | −0.01 |
| TDG Transdigm Group Inc. | Reduce -1.4% | 0.09% | −0.00 |
Portfolio Buys Q1 2026 → Q2 2026
| SCHA Schwab US Small-Cap ETF | New | 2.94% | +2.94 |
| SMH Vaneck Semiconductor ETF | Add +2.7% | 7.45% | +2.39 |
| LLY Eli Lilly & Co. | Add +80.0% | 3.88% | +1.91 |
| GOOGL Alphabet Inc. Class A | Add +10.7% | 12.77% | +1.70 |
| SIL Global X Silver Miners ETF | Add +712.8% | 1.67% | +1.38 |
| GLD SPDR Gold Shares | Add +68.8% | 5.52% | +0.96 |
| XLE SS Energy Select Sector | New | 0.71% | +0.71 |
| XBI SS SPDR S&P Biotech ETF | New | 0.69% | +0.69 |
| IYW iShares Ustechnology ETF | New | 0.61% | +0.61 |
| AMZN Amazon.com Inc. | Add +23.6% | 3.64% | +0.57 |
| SHV iShares 0-1 Year Treasury Bo | Add +199.3% | 0.58% | +0.35 |
| EMBX Vaneck Em Bond ETF | Add +30.2% | 2.59% | +0.27 |
| PWRD TCW Transform Systems ETF | Add +8.8% | 1.75% | +0.23 |
| GOOG Alphabet Inc. Class C | Add +0.8% | 5.36% | +0.21 |
| LRCX Lam Research Corp. | Add +59.6% | 0.29% | +0.19 |
| WPM Wheaton Precious Metals Corp. | Add +208.6% | 0.31% | +0.17 |
| NLR Vaneck Urani & Nuclr ETF-Usd | Add +339.2% | 0.20% | +0.14 |
| QQQ Invesco QQQ Trust Series 1 | Add +20.3% | 0.50% | +0.11 |
| AVGO Broadcom Inc. | Add +109.6% | 0.19% | +0.10 |
| ARM Arm Holdings PLC-ADR | New | 0.10% | +0.10 |
| ANET Arista Networks Inc. | Add +17.7% | 0.37% | +0.10 |
| TSM Taiwan Semiconductor-SP ADR | Add +10.6% | 0.40% | +0.10 |
| FICO Fair Isaac Corp. | New | 0.07% | +0.07 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +27.2% | 0.38% | +0.07 |
| IEMG iShares Core MSCI Emerging | Add +2.4% | 3.47% | +0.07 |
| AMAT Applied Materials Inc. | New | 0.07% | +0.07 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.06% | +0.06 |
| UNP Union Pacific Corp. | New | 0.06% | +0.06 |
| FLTR Vaneck Ig Floating Rate ETF | New | 0.06% | +0.06 |
| APH Amphenol Corp. Class A | New | 0.06% | +0.06 |
| BWA Borgwarner Inc. | New | 0.06% | +0.06 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.06% | +0.06 |
| DTCR Global X Data Center & Digit | Add +0.3% | 0.86% | +0.05 |
| WELL Welltower Inc. | New | 0.05% | +0.05 |
| SCJ iShares MSCI Japan Small-Cap | Add +19.3% | 0.61% | +0.05 |
| TRGP Targa Resources Corp. | New | 0.05% | +0.05 |
| HEI Heico Corp. | Add +6.4% | 0.22% | +0.03 |
| CCJ Cameco Corp. | New | 0.03% | +0.03 |
| OKLO Oklo Inc. | New | 0.01% | +0.01 |
| CNI Canadian Natl Railway Co. | Add +13.8% | 0.11% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +0.1% | 0.12% | −0.00 |
| TKO Tko Group Holdings Inc. | Add +10.0% | 0.06% | −0.00 |
| VYM Vanguard High DVD Yield ETF | Add +0.6% | 0.08% | −0.01 |
| FERG Ferguson Enterprises Inc. | Add +0.3% | 0.05% | −0.01 |
| V Visa Inc. Class A | Add +2.0% | 0.36% | −0.01 |
| BWXT BWX Technologies Inc. | Add +3.5% | 0.06% | −0.01 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +5.0% | 0.72% | −0.02 |
| EWW iShares MSCI Mexico ETF | Add +1.1% | 0.12% | −0.02 |
| VBIL Vanguard 0-3M T-Bill ETF | Add +1.5% | 0.14% | −0.02 |
| ULTA Ulta Beauty Inc. | Add +22.3% | 0.22% | −0.03 |
Options Activity Q1 2026 → Q2 2026
| NLR Vaneck Urani & Nuclr ETF-Usd | call | New | 4,000 | $464K |
| URA Global X Uranium ETF | call | New | 5,000 | $219K |
| OKLO Oklo Inc. | call | New | 4,000 | $209K |
| CCJ Cameco Corp. | call | New | 1,000 | $102K |
| NVDA Nvidia Corp. | call | Sold out | 500 | $87Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 126 | $422.4M | GOOGL, SMH, GDX, GLD, GOOG |
| Q1 2026 | 121 | $354.2M | GOOGL, GDX, GOOG, SMH, PDBC |
| Q4 2025 | 139 | $418.0M | GOOGL, GDX, GOOG, SMH, GLD |
| Q3 2025 | 133 | $408.0M | GOOGL, GDX, BWZ, GOOG, GLD |
| Q2 2025 | 127 | $372.2M | GOOGL, BWZ, GDX, AMZN, GLD |
| Q1 2025 | 126 | $344.3M | GOOGL, GDX, GLD, GOOG, AAPL |
| Q4 2024 | 131 | $309.8M | GOOGL, GOOG, AMZN, AAPL, MSFT |
| Q3 2024 | 130 | $330.2M | GOOGL, GDX, GOOG, MSFT, GLD |
| Q2 2024 | 120 | $315.4M | GOOGL, GOOG, TLT, MSFT, AMZN |
| Q1 2024 | 99 | $244.1M | GOOGL, GOOG, MSFT, AMZN, GLD |