Avalon Capital Management

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 17, 2024), Avalon Capital Management reported 99 stock positions worth $244.1 million. Its top holding was Alphabet Class A (GOOGL) at 12.0% of the portfolio, followed by Alphabet Class C (GOOG, 7.8%) and Microsoft (MSFT, 5.8%). Compared with Q4 2023, it opened 13 new positions, sold out of 7, added to 24 and reduced 31. The biggest buy was a new position in Vaneck Ig Floating Rate ETF (FLTR) and the biggest sale iShares 20+ Year Treasury BD (TLT, shares −98%).

Most Recent 13F
Q2 2026
Location
Port Of Redwood City, CA
CIK
0001510809
Portfolio Value
$244.1M (Q1 2024)
SEC Filing
0001172661-24-001877 ↗ filed Apr 17, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $244.1M $244.1M Q1 2024 Q2 2024: $315.4M Q2 2024 Q3 2024: $330.2M Q3 2024 Q4 2024: $309.8M Q4 2024 Q1 2025: $344.3M Q1 2025 Q2 2025: $372.2M Q2 2025 Q3 2025: $408.0M Q3 2025 Q4 2025: $418.0M Q4 2025 Q1 2026: $354.2M Q1 2026 Q2 2026: $422.4M Q2 2026

Holdings 99 stocks · $244.1M
GOOGL Alphabet Inc. Class A 11.97% 193,631 $29.2M Add +10.0%
GOOG Alphabet Inc. Class C 7.81% 125,115 $19.1M Add +14.8%
MSFT Microsoft Corp. 5.78% 33,547 $14.1M Add +12.1%
AMZN Amazon.com Inc. 5.45% 73,777 $13.3M Reduce -0.4%
GLD SPDR Gold Shares 5.01% 59,427 $12.2M Reduce -2.5%
AAPL Apple Inc. 4.58% 65,174 $11.2M Reduce -20.7%
GDX Vaneck Gold Miners ETF 3.86% 297,780 $9.4M Add +3.8%
FLTR Vaneck Ig Floating Rate ETF 3.80% 363,407 $9.3M New
MOAT Vaneck Morningstar Wide Moat 3.75% 101,832 $9.2M Reduce -3.9%
GSG iShares S&P Gsci Commodity I 3.74% 414,236 $9.1M New
CSCO Cisco Systems Inc. 3.30% 161,153 $8.0M Add +0.1%
SMH Vaneck Semiconductor ETF 3.01% 32,649 $7.3M Reduce -0.1%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 2.29% 103,069 $5.6M Reduce -0.6%
QUAL iShares MSCI USA Quality Fac 2.16% 32,008 $5.3M Add +240.4%
CALF PCR US SM CP CSH CWS ETF-Usd 1.83% 90,791 $4.5M Reduce -28.3%
LLY Eli Lilly & Co. 1.78% 5,600 $4.4M No change
SMOT Vaneck Morningstar Smid Moat 1.77% 126,594 $4.3M Reduce -5.3%
MRVL Marvell Technology Inc. 1.63% 56,297 $4.0M No change
PHO Invesco Water Resources ETF 1.61% 59,162 $3.9M Reduce -0.4%
DGRW Wisdomtree U.S. Quality Divi 1.57% 50,214 $3.8M Reduce -1.1%
IGE iShares North American Natur 1.46% 79,074 $3.6M New
COWZ Pacer US Cash Cows 100 ETF 1.45% 60,999 $3.5M Reduce -2.8%
KJAN Innovator U.S. Small Cap Pow 1.39% 96,068 $3.4M New
BRK.B Berkshire Hathaway Inc. Class B 1.26% 7,320 $3.1M Reduce -8.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.22% 24,374 $3.0M Reduce -0.5%
PWRD TCW Transform Systems ETF 1.20% 42,894 $2.9M Reduce -0.5%
GOVT iShares US Treasury Bond ETF 0.94% 100,318 $2.3M Reduce -10.9%
QQQM Invesco Nasdaq 100 ETF 0.83% 11,110 $2.0M Add +79.1%
URNM Sprott Uranium Miners ETF 0.53% 26,036 $1.3M New
TSLA Tesla Inc. 0.51% 7,125 $1.3M No change
ADBE Adobe Inc. 0.50% 2,431 $1.2M Reduce -14.9%
DSTL Distillate US Fundamental St 0.49% 22,038 $1.2M Reduce -1.5%
ET Energy Transfer LP 0.49% 75,499 $1.2M Add +25.8%
QQQ Invesco QQQ Trust Series 1 0.44% 2,421 $1.1M Add +5.8%
NVDA Nvidia Corp. 0.40% 1,075 $971K Reduce -26.1%
MRK Merck & Co. Inc. 0.34% 6,361 $839K No change
AOR iShares Core 60/40 Balanced 0.34% 15,048 $838K Add +7.2%
SCHD Schwab US DVD Equity ETF 0.34% 10,350 $835K No change
V Visa Inc. Class A 0.34% 2,940 $820K Add +6.5%
IEF iShares 7-10 Year Treasury B 0.29% 7,536 $713K Reduce -73.1%
AMD Advanced Micro Devices 0.29% 3,900 $704K No change
BX Blackstone Inc. 0.29% 5,320 $699K No change
BIP Brookfield Infrastructure Pa 0.28% 22,200 $693K No change
HEI Heico Corp. 0.27% 3,490 $667K Add +103.3%
META Meta Platforms Inc. Class A 0.27% 1,346 $654K Add +21.5%
ANET Arista Networks Inc. 0.25% 2,086 $605K No change
JNJ Johnson & Johnson 0.24% 3,639 $576K Add +1.8%
A Agilent Technologies Inc. 0.23% 3,910 $569K No change
MA Mastercard Inc. Class A 0.22% 1,128 $543K No change
INTC Intel Corp. 0.21% 11,665 $515K Add +10.4%
HAP Vaneck Natural Resources ETF 0.21% 10,041 $511K Reduce -1.9%
MPLX MPLX LP 0.20% 11,635 $484K No change
LCR Leuthold Core ETF 0.19% 13,743 $464K Add +10.2%
HPQ HP Inc. 0.19% 15,275 $462K No change
CVX Chevron Corp. 0.18% 2,782 $439K Add +2.5%
VZ Verizon Communications Inc. 0.18% 10,252 $430K Reduce -23.0%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.17% 4,350 $425K No change
NXE Nexgen Energy Ltd. 0.17% 54,671 $425K Add +8.3%
XLV SS Health Care Select Sector 0.17% 2,795 $413K Reduce -0.3%
ORCL Oracle Corp. 0.16% 3,156 $396K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.16% 744 $389K Add +3.2%
AEM Agnico Eagle Mines Ltd. 0.16% 6,371 $380K Reduce -29.4%
PG The Procter & Gamble Co. 0.15% 2,230 $362K Add +2.1%
TLT iShares 20+ Year Treasury BD 0.15% 3,783 $358K Reduce -97.7%
JPM JPMorgan Chase & Co. 0.14% 1,653 $331K Add +4.9%
TXN Texas Instruments Inc. 0.13% 1,857 $323K No change
CLF Cleveland-Cliffs Inc. 0.13% 14,000 $318K No change
OXY Occidental Petroleum Corp. 0.13% 4,879 $317K New
ADVISORS INNER CIRCLE FD III 0.13% 12,255 $315K Reduce -78.1%
KEYS Keysight Technologies Inc. 0.13% 2,012 $315K No change
IEMG iShares Core MSCI Emerging 0.13% 5,967 $308K Reduce -93.9%
PJUL Innovator U.S. Equity Power 0.13% 8,089 $307K Reduce -4.7%
UNP Union Pacific Corp. 0.12% 1,223 $301K No change
TSM Taiwan Semiconductor-SP ADR 0.12% 2,157 $293K No change
B Barrick Gold Corp. 0.12% 17,600 $293K Reduce -16.1%
NFLX Netflix Inc. 0.12% 475 $288K No change
SPGI S&P Global Inc. 0.11% 651 $277K Add +2.8%
KMI Kinder Morgan Inc. 0.11% 15,000 $275K No change
ROP Roper Technologies Inc. 0.11% 490 $275K Add +2.1%
DHR Danaher Corp. 0.11% 1,085 $271K New
HPE Hewlett Packard Enterprise 0.11% 15,089 $268K No change
FCX Freeport-McMoran Inc. 0.11% 5,640 $265K No change
VEEV Veeva Systems Inc. Class A 0.11% 1,141 $264K New
JEPI JPMorgan Equity Premium Inco 0.10% 4,360 $252K Reduce -3.6%
HON Honeywell International Inc. 0.10% 1,213 $249K No change
TLH iShares 10-20 Year Treasury 0.10% 2,268 $238K Reduce -15.1%
RSG Republic Services Inc. 0.10% 1,227 $235K New
VYM Vanguard High DVD Yield ETF 0.10% 1,919 $232K Add +0.6%
IAU iShares Gold Trust 0.09% 5,437 $228K New
QLTY GMO U.S. Quality ETF 0.09% 7,670 $228K New
ASO Academy Sports & Outdoors Inc. 0.09% 3,200 $216K No change
AMAT Applied Materials Inc. 0.09% 1,046 $216K New
CSX CSX Corp. 0.09% 5,760 $214K Reduce -64.5%
TWLO Twilio Inc. Class A 0.09% 3,472 $212K No change
TMO Thermo Fisher Scientific Inc. 0.08% 346 $201K New
SA Seabridge Gold Inc. 0.06% 10,300 $156K No change
SAND Sandstorm Gold Ltd. 0.05% 25,000 $131K No change
DNN Denison Mines Corp. 0.02% 20,000 $39K No change
AQMS Aqua Metals Inc. 0.00% 10,000 $5K No change

Portfolio Sells Q4 2023 → Q1 2024
TLT iShares 20+ Year Treasury BD Reduce -97.7% 0.15% −6.55
ICOW Pacer Developed Markets Inte Sold out 0.00% −3.62
BOND PIMCO Active Bond Exchange-T Sold out 0.00% −2.32
AAPL Apple Inc. Reduce -20.7% 4.58% −2.07
IEMG iShares Core MSCI Emerging Reduce -93.9% 0.13% −1.94
KAPR Innovator U.S. Small Cap Pow Sold out 0.00% −1.49
IEF iShares 7-10 Year Treasury B Reduce -73.1% 0.29% −0.84
CALF PCR US SM CP CSH CWS ETF-Usd Reduce -28.3% 1.83% −0.73
ADVISORS INNER CIRCLE FD III Reduce -78.1% 0.13% −0.45
GSSC Goldman Sachs Activebeta US Sold out 0.00% −0.37
ADBE Adobe Inc. Reduce -14.9% 0.50% −0.21
SCHW Schwab (charles) Corp. Sold out 0.00% −0.17
GOVT iShares US Treasury Bond ETF Reduce -10.9% 0.94% −0.15
CSX CSX Corp. Reduce -64.5% 0.09% −0.15
ARCO Arcos Dorados Holdings Inc. Class A Sold out 0.00% −0.12
OCTQ Inn Prem Income 40 Barr Oct Sold out 0.00% −0.10
AEM Agnico Eagle Mines Ltd. Reduce -29.4% 0.16% −0.05
B Barrick Gold Corp. Reduce -16.1% 0.12% −0.04
VZ Verizon Communications Inc. Reduce -23.0% 0.18% −0.03
TLH iShares 10-20 Year Treasury Reduce -15.1% 0.10% −0.02
MOAT Vaneck Morningstar Wide Moat Reduce -3.9% 3.75% −0.02
PJUL Innovator U.S. Equity Power Reduce -4.7% 0.13% −0.00
JEPI JPMorgan Equity Premium Inco Reduce -3.6% 0.10% −0.00
HAP Vaneck Natural Resources ETF Reduce -1.9% 0.21% −0.00
SMOT Vaneck Morningstar Smid Moat Reduce -5.3% 1.77% +0.00
XLV SS Health Care Select Sector Reduce -0.3% 0.17% +0.01
DSTL Distillate US Fundamental St Reduce -1.5% 0.49% +0.02
BRK.B Berkshire Hathaway Inc. Class B Reduce -8.1% 1.26% +0.07
DGRW Wisdomtree U.S. Quality Divi Reduce -1.1% 1.57% +0.07
COWZ Pacer US Cash Cows 100 ETF Reduce -2.8% 1.45% +0.08
NVDA Nvidia Corp. Reduce -26.1% 0.40% +0.10
PHO Invesco Water Resources ETF Reduce -0.4% 1.61% +0.10
GLD SPDR Gold Shares Reduce -2.5% 5.01% +0.11
JEPQ JPM Nasdaq Equity Premium Reduce -0.6% 2.29% +0.12
PWRD TCW Transform Systems ETF Reduce -0.5% 1.20% +0.18
DIS The Walt Disney Co. Reduce -0.5% 1.22% +0.29
SMH Vaneck Semiconductor ETF Reduce -0.1% 3.01% +0.61
AMZN Amazon.com Inc. Reduce -0.4% 5.45% +0.73

Portfolio Buys Q4 2023 → Q1 2024
FLTR Vaneck Ig Floating Rate ETF New 3.80% +3.80
GSG iShares S&P Gsci Commodity I New 3.74% +3.74
GOOGL Alphabet Inc. Class A Add +10.0% 11.97% +1.65
QUAL iShares MSCI USA Quality Fac Add +240.4% 2.16% +1.57
IGE iShares North American Natur New 1.46% +1.46
KJAN Innovator U.S. Small Cap Pow New 1.39% +1.39
GOOG Alphabet Inc. Class C Add +14.8% 7.81% +1.36
MSFT Microsoft Corp. Add +12.1% 5.78% +1.06
URNM Sprott Uranium Miners ETF New 0.53% +0.53
QQQM Invesco Nasdaq 100 ETF Add +79.1% 0.83% +0.39
HEI Heico Corp. Add +103.3% 0.27% +0.14
ET Energy Transfer LP Add +25.8% 0.49% +0.14
OXY Occidental Petroleum Corp. New 0.13% +0.13
GDX Vaneck Gold Miners ETF Add +3.8% 3.86% +0.12
DHR Danaher Corp. New 0.11% +0.11
VEEV Veeva Systems Inc. Class A New 0.11% +0.11
META Meta Platforms Inc. Class A Add +21.5% 0.27% +0.10
RSG Republic Services Inc. New 0.10% +0.10
IAU iShares Gold Trust New 0.09% +0.09
QLTY GMO U.S. Quality ETF New 0.09% +0.09
AMAT Applied Materials Inc. New 0.09% +0.09
TMO Thermo Fisher Scientific Inc. New 0.08% +0.08
QQQ Invesco QQQ Trust Series 1 Add +5.8% 0.44% +0.05
V Visa Inc. Class A Add +6.5% 0.34% +0.03
AOR iShares Core 60/40 Balanced Add +7.2% 0.34% +0.03
NXE Nexgen Energy Ltd. Add +8.3% 0.17% +0.03
JPM JPMorgan Chase & Co. Add +4.9% 0.14% +0.02
LCR Leuthold Core ETF Add +10.2% 0.19% +0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +3.2% 0.16% +0.02
PG The Procter & Gamble Co. Add +2.1% 0.15% +0.01
CVX Chevron Corp. Add +2.5% 0.18% +0.01
VYM Vanguard High DVD Yield ETF Add +0.6% 0.10% +0.01
ROP Roper Technologies Inc. Add +2.1% 0.11% +0.00
JNJ Johnson & Johnson Add +1.8% 0.24% +0.00
SPGI S&P Global Inc. Add +2.8% 0.11% −0.00
INTC Intel Corp. Add +10.4% 0.21% −0.01
CSCO Cisco Systems Inc. Add +0.1% 3.30% −0.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 126$422.4MGOOGL, SMH, GDX, GLD, GOOG
Q1 2026 121$354.2MGOOGL, GDX, GOOG, SMH, PDBC
Q4 2025 139$418.0MGOOGL, GDX, GOOG, SMH, GLD
Q3 2025 133$408.0MGOOGL, GDX, BWZ, GOOG, GLD
Q2 2025 127$372.2MGOOGL, BWZ, GDX, AMZN, GLD
Q1 2025 126$344.3MGOOGL, GDX, GLD, GOOG, AAPL
Q4 2024 131$309.8MGOOGL, GOOG, AMZN, AAPL, MSFT
Q3 2024 130$330.2MGOOGL, GDX, GOOG, MSFT, GLD
Q2 2024 120$315.4MGOOGL, GOOG, TLT, MSFT, AMZN
Q1 2024 99$244.1MGOOGL, GOOG, MSFT, AMZN, GLD