Avalon Capital Management

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 24, 2024), Avalon Capital Management reported 120 stock positions worth $315.4 million. Its top holding was Alphabet Class A (GOOGL) at 11.4% of the portfolio, followed by Alphabet Class C (GOOG, 7.1%) and iShares 20+ Year Treasury BD (TLT, 6.2%). Compared with Q1 2024, it opened 30 new positions, sold out of 9, added to 48 and reduced 29. The biggest buy was iShares 20+ Year Treasury BD (TLT, shares +5491%) and the biggest sale an exit from Vaneck Ig Floating Rate ETF (FLTR).

Most Recent 13F
Q2 2026
Location
Port Of Redwood City, CA
CIK
0001510809
Portfolio Value
$315.4M (Q2 2024)
SEC Filing
0001172661-24-002896 ↗ filed Jul 24, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $244.1M Q1 2024 Q2 2024: $315.4M $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 120 stocks · $315.4M
GOOGL Alphabet Inc. Class A 11.40% 197,402 $36.0M Add +1.9%
GOOG Alphabet Inc. Class C 7.11% 122,221 $22.4M Reduce -2.3%
TLT iShares 20+ Year Treasury BD 6.16% 211,518 $19.4M Add +5491.3%
MSFT Microsoft Corp. 5.39% 38,016 $17.0M Add +13.3%
AMZN Amazon.com Inc. 4.96% 80,968 $15.6M Add +9.8%
AAPL Apple Inc. 4.60% 68,915 $14.5M Add +5.7%
GDX Vaneck Gold Miners ETF 4.46% 414,571 $14.1M Add +39.2%
GLD SPDR Gold Shares 4.27% 62,600 $13.5M Add +5.3%
GOVT iShares US Treasury Bond ETF 3.16% 442,095 $10.0M Add +340.7%
GSG iShares S&P Gsci Commodity I 2.91% 414,153 $9.2M Reduce -0.0%
CSCO Cisco Systems Inc. 2.42% 160,962 $7.6M Reduce -0.1%
XLU St Sr Utl SL SE SPDR ETF-Usd 2.28% 105,375 $7.2M New
QUAL iShares MSCI USA Quality Fac 2.14% 39,471 $6.7M Add +23.3%
MOAT Vaneck Morningstar Wide Moat 1.92% 69,812 $6.0M Reduce -31.4%
XLV SS Health Care Select Sector 1.88% 40,615 $5.9M Add +1353.1%
SMH Vaneck Semiconductor ETF 1.86% 22,561 $5.9M Reduce -30.9%
LLY Eli Lilly & Co. 1.61% 5,612 $5.1M Add +0.2%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 1.57% 89,196 $5.0M Reduce -13.5%
MRVL Marvell Technology Inc. 1.25% 56,316 $3.9M Add +0.0%
PHO Invesco Water Resources ETF 1.22% 59,182 $3.8M Add +0.0%
DGRW Wisdomtree U.S. Quality Divi 1.19% 48,244 $3.8M Reduce -3.9%
DIVO Amplify CWP Enhan Divid ETF 1.08% 87,684 $3.4M New
KJAN Innovator U.S. Small Cap Pow 1.00% 89,926 $3.1M Reduce -6.4%
PWRD TCW Transform Systems ETF 0.98% 45,181 $3.1M Add +5.3%
COWZ Pacer US Cash Cows 100 ETF 0.96% 55,444 $3.0M Reduce -9.1%
BRK.B Berkshire Hathaway Inc. Class B 0.94% 7,296 $3.0M Reduce -0.3%
SHY iShares 1-3 Year Treasury Bo 0.79% 30,676 $2.5M New
CALF PCR US SM CP CSH CWS ETF-Usd 0.79% 56,870 $2.5M Reduce -37.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.74% 23,372 $2.3M Reduce -4.1%
GPIX GLDM SA S&P 500 PR in ETF-US 0.71% 47,466 $2.3M New
SMOT Vaneck Morningstar Smid Moat 0.67% 66,291 $2.1M Reduce -47.6%
QQQM Invesco Nasdaq 100 ETF 0.67% 10,643 $2.1M Reduce -4.2%
AIA iShares Asia 50 ETF 0.64% 30,255 $2.0M New
GLIN Vaneck India Growth Leaders 0.51% 31,806 $1.6M New
IAU iShares Gold Trust 0.48% 34,149 $1.5M Add +528.1%
URNM Sprott Uranium Miners ETF 0.47% 30,067 $1.5M Add +15.5%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.46% 14,974 $1.5M New
NVDA Nvidia Corp. 0.45% 11,560 $1.4M Add +7.5%
TSLA Tesla Inc. 0.45% 7,139 $1.4M Add +0.2%
ORCL Oracle Corp. 0.44% 9,901 $1.4M Add +213.7%
V Visa Inc. Class A 0.41% 4,941 $1.3M Add +68.1%
COST Costco Wholesale Corp. 0.41% 1,519 $1.3M New
LCR Leuthold Core ETF 0.40% 37,771 $1.3M Add +174.8%
ET Energy Transfer LP 0.40% 77,121 $1.3M Add +2.1%
ADBE Adobe Inc. 0.39% 2,198 $1.2M Reduce -9.6%
GSST Goldman Sachs Ultra Short Bo 0.37% 23,006 $1.2M New
DSTL Distillate US Fundamental St 0.35% 21,665 $1.1M Reduce -1.7%
SLVP iShares MSCI Global Silver A 0.35% 94,943 $1.1M New
MRK Merck & Co. Inc. 0.33% 8,494 $1.1M Add +33.5%
DHR Danaher Corp. 0.30% 3,803 $950K Add +250.5%
QQQ Invesco QQQ Trust Series 1 0.28% 1,834 $879K Reduce -24.3%
AOR iShares Core 60/40 Balanced 0.26% 14,620 $823K Reduce -2.8%
HEI Heico Corp. 0.26% 3,613 $808K Add +3.5%
IGE iShares North American Natur 0.26% 18,346 $807K Reduce -76.8%
SCHD Schwab US DVD Equity ETF 0.26% 10,350 $805K No change
COPX Global X Copper Miners ETF 0.25% 17,297 $780K New
SPY SS SPDR S&P 500 ETF Trust-US 0.25% 1,428 $777K Add +91.9%
ANET Arista Networks Inc. 0.23% 2,086 $731K No change
XLK SS Technology Select Sector 0.23% 3,180 $719K New
IEF iShares 7-10 Year Treasury B 0.22% 7,536 $706K No change
META Meta Platforms Inc. Class A 0.22% 1,371 $691K Add +1.9%
BX Blackstone Inc. 0.21% 5,320 $659K No change
AMD Advanced Micro Devices 0.20% 3,912 $635K Add +0.3%
BIP Brookfield Infrastructure Pa 0.19% 21,751 $597K Reduce -2.0%
SCHW Schwab (charles) Corp. 0.18% 7,850 $578K New
PG The Procter & Gamble Co. 0.18% 3,435 $566K Add +54.0%
PEP Pepsico Inc. 0.18% 3,398 $560K New
XAR SS SPDR S&P Aerospace Def 0.17% 3,721 $521K New
VDE Vanguard Energy ETF 0.16% 4,058 $518K New
A Agilent Technologies Inc. 0.16% 3,913 $507K Add +0.1%
XLI SS Industrial Select Sector 0.16% 4,121 $502K New
HAP Vaneck Natural Resources ETF 0.16% 10,041 $502K No change
MPLX MPLX LP 0.16% 11,635 $496K No change
CVX Chevron Corp. 0.15% 3,091 $483K Add +11.1%
EW Edwards Lifesciences Corp. 0.15% 5,212 $481K New
VZ Verizon Communications Inc. 0.14% 11,052 $456K Add +7.8%
JNJ Johnson & Johnson 0.14% 3,059 $447K Reduce -15.9%
APD Air Products & Chemicals Inc. 0.14% 1,730 $447K New
HPQ HP Inc. 0.14% 12,300 $431K Reduce -19.5%
AEM Agnico Eagle Mines Ltd. 0.13% 6,371 $417K No change
VGT Vanguard Info Tech ETF 0.13% 717 $413K New
TSM Taiwan Semiconductor-SP ADR 0.13% 2,351 $409K Add +9.0%
VOO Vanguard S&P 500 ETF 0.12% 787 $393K New
ADVISORS INNER CIRCLE FD III 0.12% 14,755 $377K Add +20.4%
MA Mastercard Inc. Class A 0.12% 850 $375K Reduce -24.6%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.12% 4,350 $365K No change
TXN Texas Instruments Inc. 0.12% 1,871 $364K Add +0.8%
NOW ServiceNow Inc. 0.11% 456 $359K New
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.11% 917 $359K New
B Barrick Gold Corp. 0.11% 21,026 $351K Add +19.5%
JPM JPMorgan Chase & Co. 0.11% 1,673 $338K Add +1.2%
HL Hecla Mining Co. 0.10% 68,037 $330K New
NFLX Netflix Inc. 0.10% 485 $327K Add +2.1%
HPE Hewlett Packard Enterprise 0.10% 15,130 $320K Add +0.3%
IEMG iShares Core MSCI Emerging 0.10% 5,969 $320K Add +0.0%
VONV Vanguard Russell 1000 Value 0.10% 4,171 $319K New
AMAT Applied Materials Inc. 0.10% 1,328 $313K Add +27.0%
KMI Kinder Morgan Inc. 0.09% 15,000 $298K No change
SPGI S&P Global Inc. 0.09% 649 $289K Reduce -0.3%
TLH iShares 10-20 Year Treasury 0.09% 2,711 $278K Add +19.5%
FCX Freeport-McMoran Inc. 0.09% 5,690 $277K Add +0.9%
KEYS Keysight Technologies Inc. 0.08% 1,955 $267K Reduce -2.8%
OXY Occidental Petroleum Corp. 0.08% 4,213 $266K Reduce -13.7%
ROP Roper Technologies Inc. 0.08% 470 $265K Reduce -4.1%
HON Honeywell International Inc. 0.08% 1,217 $260K Add +0.3%
RSG Republic Services Inc. 0.08% 1,230 $239K Add +0.2%
NEE Nextera Energy Inc. 0.08% 3,364 $238K New
QLTY GMO U.S. Quality ETF 0.07% 7,590 $235K Reduce -1.0%
UNH Unitedhealth Group Inc. 0.07% 461 $235K New
NLR Vaneck Urani & Nuclr ETF-Usd 0.07% 2,931 $234K New
VYM Vanguard High DVD Yield ETF 0.07% 1,935 $230K Add +0.8%
JEPI JPMorgan Equity Premium Inco 0.07% 3,920 $222K Reduce -10.1%
TMO Thermo Fisher Scientific Inc. 0.07% 397 $220K Add +14.7%
PINS Pinterest Inc. Class A 0.07% 4,896 $216K New
CLF Cleveland-Cliffs Inc. 0.07% 14,000 $215K No change
XLF SS Financial Select Sector 0.07% 5,050 $208K New
SA Seabridge Gold Inc. 0.04% 10,300 $141K No change
SAND Sandstorm Gold Ltd. 0.04% 25,000 $136K No change
DNN Denison Mines Corp. 0.01% 20,000 $40K No change
AQMS Aqua Metals Inc. 0.00% 15,000 $5K Add +50.0%

Portfolio Sells Q1 2024 → Q2 2024
FLTR Vaneck Ig Floating Rate ETF Sold out 0.00% −3.80
MOAT Vaneck Morningstar Wide Moat Reduce -31.4% 1.92% −1.83
IGE iShares North American Natur Reduce -76.8% 0.26% −1.20
SMH Vaneck Semiconductor ETF Reduce -30.9% 1.86% −1.14
SMOT Vaneck Morningstar Smid Moat Reduce -47.6% 0.67% −1.10
CALF PCR US SM CP CSH CWS ETF-Usd Reduce -37.4% 0.79% −1.04
CSCO Cisco Systems Inc. Reduce -0.1% 2.42% −0.87
GSG iShares S&P Gsci Commodity I Reduce -0.0% 2.91% −0.84
JEPQ JPM Nasdaq Equity Premium Reduce -13.5% 1.57% −0.72
GOOG Alphabet Inc. Class C Reduce -2.3% 7.11% −0.70
COWZ Pacer US Cash Cows 100 ETF Reduce -9.1% 0.96% −0.49
DIS The Walt Disney Co. Reduce -4.1% 0.74% −0.49
KJAN Innovator U.S. Small Cap Pow Reduce -6.4% 1.00% −0.40
DGRW Wisdomtree U.S. Quality Divi Reduce -3.9% 1.19% −0.37
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.3% 0.94% −0.32
INTC Intel Corp. Sold out 0.00% −0.21
NXE Nexgen Energy Ltd. Sold out 0.00% −0.17
QQQM Invesco Nasdaq 100 ETF Reduce -4.2% 0.67% −0.17
QQQ Invesco QQQ Trust Series 1 Reduce -24.3% 0.28% −0.16
DSTL Distillate US Fundamental St Reduce -1.7% 0.35% −0.13
PJUL Innovator U.S. Equity Power Sold out 0.00% −0.13
UNP Union Pacific Corp. Sold out 0.00% −0.12
ADBE Adobe Inc. Reduce -9.6% 0.39% −0.12
VEEV Veeva Systems Inc. Class A Sold out 0.00% −0.11
MA Mastercard Inc. Class A Reduce -24.6% 0.12% −0.10
BIP Brookfield Infrastructure Pa Reduce -2.0% 0.19% −0.09
JNJ Johnson & Johnson Reduce -15.9% 0.14% −0.09
ASO Academy Sports & Outdoors Inc. Sold out 0.00% −0.09
CSX CSX Corp. Sold out 0.00% −0.09
TWLO Twilio Inc. Class A Sold out 0.00% −0.09
AOR iShares Core 60/40 Balanced Reduce -2.8% 0.26% −0.08
HPQ HP Inc. Reduce -19.5% 0.14% −0.05
OXY Occidental Petroleum Corp. Reduce -13.7% 0.08% −0.05
KEYS Keysight Technologies Inc. Reduce -2.8% 0.08% −0.04
JEPI JPMorgan Equity Premium Inco Reduce -10.1% 0.07% −0.03
ROP Roper Technologies Inc. Reduce -4.1% 0.08% −0.03
SPGI S&P Global Inc. Reduce -0.3% 0.09% −0.02
QLTY GMO U.S. Quality ETF Reduce -1.0% 0.07% −0.02

Portfolio Buys Q1 2024 → Q2 2024
TLT iShares 20+ Year Treasury BD Add +5491.3% 6.16% +6.01
XLU St Sr Utl SL SE SPDR ETF-Usd New 2.28% +2.28
GOVT iShares US Treasury Bond ETF Add +340.7% 3.16% +2.23
XLV SS Health Care Select Sector Add +1353.1% 1.88% +1.71
DIVO Amplify CWP Enhan Divid ETF New 1.08% +1.08
SHY iShares 1-3 Year Treasury Bo New 0.79% +0.79
GPIX GLDM SA S&P 500 PR in ETF-US New 0.71% +0.71
AIA iShares Asia 50 ETF New 0.64% +0.64
GDX Vaneck Gold Miners ETF Add +39.2% 4.46% +0.60
GLIN Vaneck India Growth Leaders New 0.51% +0.51
TTD Trade Desk Inc./the Class A New 0.46% +0.46
COST Costco Wholesale Corp. New 0.41% +0.41
IAU iShares Gold Trust Add +528.1% 0.48% +0.38
GSST Goldman Sachs Ultra Short Bo New 0.37% +0.37
SLVP iShares MSCI Global Silver A New 0.35% +0.35
ORCL Oracle Corp. Add +213.7% 0.44% +0.28
COPX Global X Copper Miners ETF New 0.25% +0.25
XLK SS Technology Select Sector New 0.23% +0.23
LCR Leuthold Core ETF Add +174.8% 0.40% +0.21
DHR Danaher Corp. Add +250.5% 0.30% +0.19
SCHW Schwab (charles) Corp. New 0.18% +0.18
PEP Pepsico Inc. New 0.18% +0.18
XAR SS SPDR S&P Aerospace Def New 0.17% +0.17
VDE Vanguard Energy ETF New 0.16% +0.16
XLI SS Industrial Select Sector New 0.16% +0.16
EW Edwards Lifesciences Corp. New 0.15% +0.15
APD Air Products & Chemicals Inc. New 0.14% +0.14
VGT Vanguard Info Tech ETF New 0.13% +0.13
VOO Vanguard S&P 500 ETF New 0.12% +0.12
DIA SS SPDR Dow Jones Indus Avg New 0.11% +0.11
NOW ServiceNow Inc. New 0.11% +0.11
HL Hecla Mining Co. New 0.10% +0.10
VONV Vanguard Russell 1000 Value New 0.10% +0.10
SPY SS SPDR S&P 500 ETF Trust-US Add +91.9% 0.25% +0.09
NEE Nextera Energy Inc. New 0.08% +0.08
V Visa Inc. Class A Add +68.1% 0.41% +0.07
UNH Unitedhealth Group Inc. New 0.07% +0.07
NLR Vaneck Urani & Nuclr ETF-Usd New 0.07% +0.07
PINS Pinterest Inc. Class A New 0.07% +0.07
XLF SS Financial Select Sector New 0.07% +0.07
NVDA Nvidia Corp. Add +7.5% 0.45% +0.05
PG The Procter & Gamble Co. Add +54.0% 0.18% +0.03
AAPL Apple Inc. Add +5.7% 4.60% +0.02
AMAT Applied Materials Inc. Add +27.0% 0.10% +0.01
TSM Taiwan Semiconductor-SP ADR Add +9.0% 0.13% +0.01
AQMS Aqua Metals Inc. Add +50.0% 0.00% −0.00
HPE Hewlett Packard Enterprise Add +0.3% 0.10% −0.01
B Barrick Gold Corp. Add +19.5% 0.11% −0.01
TLH iShares 10-20 Year Treasury Add +19.5% 0.09% −0.01
ADVISORS INNER CIRCLE FD III Add +20.4% 0.12% −0.01

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