Avalon Capital Management

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Avalon Capital Management reported 130 stock positions worth $330.2 million. Its top holding was Alphabet Class A (GOOGL) at 8.6% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 5.7%) and Alphabet Class C (GOOG, 5.2%). Compared with Q2 2024, it opened 24 new positions, sold out of 14, added to 34 and reduced 45. The biggest buy was a new position in Schwab Emrg Mrkts Eqty ETF (SCHE) and the biggest sale iShares 20+ Year Treasury BD (TLT, shares −61%).

Most Recent 13F
Q2 2026
Location
Port Of Redwood City, CA
CIK
0001510809
Portfolio Value
$330.2M (Q3 2024)
SEC Filing
0001172661-24-004616 ↗ filed Nov 13, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $244.1M Q1 2024 Q2 2024: $315.4M Q2 2024 Q3 2024: $330.2M $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 130 stocks · $330.2M
GOOGL Alphabet Inc. Class A 8.63% 171,728 $28.5M Reduce -13.0%
GDX Vaneck Gold Miners ETF 5.66% 468,933 $18.7M Add +13.1%
GOOG Alphabet Inc. Class C 5.22% 103,011 $17.2M Reduce -15.7%
MSFT Microsoft Corp. 4.88% 37,415 $16.1M Reduce -1.6%
GLD SPDR Gold Shares 4.82% 65,515 $15.9M Add +4.7%
AAPL Apple Inc. 4.78% 67,668 $15.8M Reduce -1.8%
AMZN Amazon.com Inc. 4.49% 79,548 $14.8M Reduce -1.8%
GOVT iShares US Treasury Bond ETF 3.28% 461,801 $10.8M Add +4.5%
XLU St Sr Utl SL SE SPDR ETF-Usd 2.79% 113,882 $9.2M Add +8.1%
CSCO Cisco Systems Inc. 2.60% 161,032 $8.6M Add +0.0%
TLT iShares 20+ Year Treasury BD 2.45% 82,296 $8.1M Reduce -61.1%
SCHE Schwab Emrg Mrkts Eqty ETF 2.28% 258,083 $7.5M New
XLV SS Health Care Select Sector 2.18% 46,813 $7.2M Add +15.3%
QUAL iShares MSCI USA Quality Fac 2.16% 39,689 $7.1M Add +0.6%
MOAT Vaneck Morningstar Wide Moat 2.02% 68,643 $6.7M Reduce -1.7%
BRK.B Berkshire Hathaway Inc. Class B 2.00% 14,317 $6.6M Add +96.2%
KWEB Kranesh Csi China Internet 1.90% 184,481 $6.3M New
DTCR Global X Data Center & Digit 1.67% 313,590 $5.5M New
SMH Vaneck Semiconductor ETF 1.62% 21,802 $5.4M Reduce -3.4%
JIRE JPMorgan Int Res Enh Eqty 1.53% 76,317 $5.0M New
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 1.44% 86,784 $4.8M Reduce -2.7%
LLY Eli Lilly & Co. 1.40% 5,212 $4.6M Reduce -7.1%
PHO Invesco Water Resources ETF 1.31% 61,219 $4.3M Add +3.4%
MRVL Marvell Technology Inc. 1.23% 56,316 $4.1M No change
DGRW Wisdomtree U.S. Quality Divi 1.15% 45,526 $3.8M Reduce -5.6%
DIVO Amplify CWP Enhan Divid ETF 1.11% 88,740 $3.7M Add +1.2%
PWRD TCW Transform Systems ETF 1.04% 46,349 $3.4M Add +2.6%
KJAN Innovator U.S. Small Cap Pow 1.02% 91,080 $3.4M Add +1.3%
COWZ Pacer US Cash Cows 100 ETF 0.96% 55,087 $3.2M Reduce -0.6%
SHY iShares 1-3 Year Treasury Bo 0.83% 32,873 $2.7M Add +7.2%
BNDX Vanguard Total Intl Bond ETF 0.72% 47,491 $2.4M New
VWO Vanguard Ftse Emerging Marke 0.71% 49,271 $2.4M New
IBB iShares Biotechnology ETF 0.70% 15,796 $2.3M New
GPIX GLDM SA S&P 500 PR in ETF-US 0.69% 46,641 $2.3M Reduce -1.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.62% 21,375 $2.1M Reduce -8.5%
AOR iShares Core 60/40 Balanced 0.60% 33,538 $2.0M Add +129.4%
TSLA Tesla Inc. 0.57% 7,139 $1.9M No change
V Visa Inc. Class A 0.54% 6,504 $1.8M Add +31.6%
IAU iShares Gold Trust 0.52% 34,799 $1.7M Add +1.9%
GLIN Vaneck India Growth Leaders 0.50% 30,406 $1.7M Reduce -4.4%
ORCL Oracle Corp. 0.49% 9,509 $1.6M Reduce -4.0%
NVDA Nvidia Corp. 0.47% 12,753 $1.5M Add +10.3%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.44% 13,274 $1.5M Reduce -11.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.44% 8,271 $1.4M New
COST Costco Wholesale Corp. 0.43% 1,610 $1.4M Add +6.0%
SHV iShares 0-1 Year Treasury Bo 0.41% 12,194 $1.3M New
DSTL Distillate US Fundamental St 0.41% 23,665 $1.3M Add +9.2%
LCR Leuthold Core ETF 0.40% 36,994 $1.3M Reduce -2.1%
ET Energy Transfer LP 0.38% 77,560 $1.2M Add +0.6%
SLVP iShares MSCI Global Silver A 0.36% 89,480 $1.2M Reduce -5.8%
EWH iShares MSCI Hong Kong ETF 0.34% 60,533 $1.1M New
DHR Danaher Corp. 0.31% 3,715 $1.0M Reduce -2.3%
HEI Heico Corp. 0.31% 3,887 $1.0M Add +7.6%
QQQ Invesco QQQ Trust Series 1 0.27% 1,797 $877K Reduce -2.0%
SCHD Schwab US DVD Equity ETF 0.27% 10,350 $875K No change
COPX Global X Copper Miners ETF 0.26% 17,895 $846K Add +3.5%
SLV iShares Silver Trust 0.26% 29,701 $844K New
ADVISORS INNER CIRCLE FD III 0.25% 30,525 $831K Add +106.9%
META Meta Platforms Inc. Class A 0.25% 1,444 $827K Add +5.3%
BX Blackstone Inc. 0.25% 5,320 $815K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.25% 1,415 $812K Reduce -0.9%
ANET Arista Networks Inc. 0.24% 2,093 $803K Add +0.3%
IGE iShares North American Natur 0.24% 17,922 $790K Reduce -2.3%
MRK Merck & Co. Inc. 0.24% 6,854 $778K Reduce -19.3%
BIP Brookfield Infrastructure Pa 0.23% 21,751 $762K No change
TDG Transdigm Group Inc. 0.22% 520 $742K New
IEF iShares 7-10 Year Treasury B 0.22% 7,536 $739K No change
XLK SS Technology Select Sector 0.22% 3,180 $718K No change
ADBE Adobe Inc. 0.21% 1,311 $679K Reduce -40.4%
AMD Advanced Micro Devices 0.19% 3,912 $642K No change
PG The Procter & Gamble Co. 0.18% 3,430 $594K Reduce -0.1%
XAR SS SPDR S&P Aerospace Def 0.18% 3,721 $585K No change
A Agilent Technologies Inc. 0.18% 3,913 $581K No change
XLI SS Industrial Select Sector 0.17% 4,121 $558K No change
BABA Alibaba Group Holding-SP ADR 0.17% 5,163 $548K New
PEP Pepsico Inc. 0.16% 3,058 $520K Reduce -10.0%
MPLX MPLX LP 0.16% 11,635 $517K No change
APD Air Products & Chemicals Inc. 0.16% 1,730 $515K No change
AEM Agnico Eagle Mines Ltd. 0.16% 6,371 $513K No change
VDE Vanguard Energy ETF 0.15% 3,958 $485K Reduce -2.5%
JNJ Johnson & Johnson 0.15% 2,959 $480K Reduce -3.3%
HL Hecla Mining Co. 0.14% 71,497 $477K Add +5.1%
GSSC Goldman Sachs Activebeta US 0.14% 6,829 $474K New
TMO Thermo Fisher Scientific Inc. 0.14% 751 $465K Add +89.2%
NOW ServiceNow Inc. 0.13% 480 $429K Add +5.3%
MA Mastercard Inc. Class A 0.13% 867 $428K Add +2.0%
HAP Vaneck Natural Resources ETF 0.13% 8,098 $427K Reduce -19.4%
VOO Vanguard S&P 500 ETF 0.13% 787 $415K No change
TSM Taiwan Semiconductor-SP ADR 0.12% 2,351 $408K No change
SCHW Schwab (charles) Corp. 0.12% 6,137 $398K Reduce -21.8%
GSST Goldman Sachs Ultra Short Bo 0.12% 7,763 $393K Reduce -66.3%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.12% 4,350 $392K No change
TXN Texas Instruments Inc. 0.12% 1,871 $386K No change
VGT Vanguard Info Tech ETF 0.12% 648 $380K Reduce -9.6%
VZ Verizon Communications Inc. 0.11% 8,252 $371K Reduce -25.3%
B Barrick Gold Corp. 0.11% 18,400 $366K Reduce -12.5%
CVX Chevron Corp. 0.11% 2,470 $364K Reduce -20.1%
JPM JPMorgan Chase & Co. 0.11% 1,673 $353K No change
NFLX Netflix Inc. 0.10% 485 $344K No change
ZTS Zoetis Inc. 0.10% 1,759 $344K New
SPGI S&P Global Inc. 0.10% 652 $337K Add +0.5%
KMI Kinder Morgan Inc. 0.10% 15,000 $331K No change
UNH Unitedhealth Group Inc. 0.10% 554 $324K Add +20.2%
VONV Vanguard Russell 1000 Value 0.10% 3,781 $315K Reduce -9.3%
EW Edwards Lifesciences Corp. 0.09% 4,714 $311K Reduce -9.6%
GEV GE Vernova Inc. 0.09% 1,175 $300K New
HPQ HP Inc. 0.09% 8,050 $289K Reduce -34.5%
NEE Nextera Energy Inc. 0.09% 3,364 $284K No change
FCX Freeport-McMoran Inc. 0.08% 5,590 $279K Reduce -1.8%
QLTY GMO U.S. Quality ETF 0.08% 8,090 $264K Add +6.6%
NJUL Innovator Growth 100 Power B 0.08% 4,294 $261K New
VYM Vanguard High DVD Yield ETF 0.08% 1,948 $250K Add +0.7%
RSG Republic Services Inc. 0.07% 1,203 $242K Reduce -2.2%
IEMG iShares Core MSCI Emerging 0.07% 4,172 $240K Reduce -30.1%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.07% 566 $239K Reduce -38.3%
OXY Occidental Petroleum Corp. 0.07% 4,629 $239K Add +9.9%
PLTR Palantir Technologies Inc. Class A 0.07% 6,350 $236K New
AMAT Applied Materials Inc. 0.07% 1,163 $235K Reduce -12.4%
WPM Wheaton Precious Metals Corp. 0.07% 3,801 $232K New
XLF SS Financial Select Sector 0.07% 5,050 $229K No change
TWLO Twilio Inc. Class A 0.07% 3,472 $226K New
CG The Carlyle Group Inc. 0.06% 4,778 $206K New
IDXX Idexx Laboratories Inc. 0.06% 402 $203K New
ETN Eaton Corp. PLC 0.06% 608 $202K New
CLF Cleveland-Cliffs Inc. 0.05% 14,000 $179K No change
SA Seabridge Gold Inc. 0.05% 10,300 $173K No change
SAND Sandstorm Gold Ltd. 0.05% 25,000 $150K No change
NGD New Gold Inc. 0.02% 27,383 $79K New
DNN Denison Mines Corp. 0.01% 11,170 $20K Reduce -44.1%
AQMS Aqua Metals Inc. 0.00% 15,000 $3K No change

Portfolio Sells Q2 2024 → Q3 2024
TLT iShares 20+ Year Treasury BD Reduce -61.1% 2.45% −3.71
GSG iShares S&P Gsci Commodity I Sold out 0.00% −2.91
GOOGL Alphabet Inc. Class A Reduce -13.0% 8.63% −2.77
GOOG Alphabet Inc. Class C Reduce -15.7% 5.22% −1.89
CALF PCR US SM CP CSH CWS ETF-Usd Sold out 0.00% −0.79
SMOT Vaneck Morningstar Smid Moat Sold out 0.00% −0.67
QQQM Invesco Nasdaq 100 ETF Sold out 0.00% −0.67
AIA iShares Asia 50 ETF Sold out 0.00% −0.64
MSFT Microsoft Corp. Reduce -1.6% 4.88% −0.51
AMZN Amazon.com Inc. Reduce -1.8% 4.49% −0.47
URNM Sprott Uranium Miners ETF Sold out 0.00% −0.47
GSST Goldman Sachs Ultra Short Bo Reduce -66.3% 0.12% −0.25
SMH Vaneck Semiconductor ETF Reduce -3.4% 1.62% −0.24
LLY Eli Lilly & Co. Reduce -7.1% 1.40% −0.21
ADBE Adobe Inc. Reduce -40.4% 0.21% −0.18
JEPQ JPM Nasdaq Equity Premium Reduce -2.7% 1.44% −0.13
DIS The Walt Disney Co. Reduce -8.5% 0.62% −0.11
HPE Hewlett Packard Enterprise Sold out 0.00% −0.10
MRK Merck & Co. Inc. Reduce -19.3% 0.24% −0.10
TLH iShares 10-20 Year Treasury Sold out 0.00% −0.09
KEYS Keysight Technologies Inc. Sold out 0.00% −0.08
ROP Roper Technologies Inc. Sold out 0.00% −0.08
HON Honeywell International Inc. Sold out 0.00% −0.08
NLR Vaneck Urani & Nuclr ETF-Usd Sold out 0.00% −0.07
JEPI JPMorgan Equity Premium Inco Sold out 0.00% −0.07
PINS Pinterest Inc. Class A Sold out 0.00% −0.07
SCHW Schwab (charles) Corp. Reduce -21.8% 0.12% −0.06
EW Edwards Lifesciences Corp. Reduce -9.6% 0.09% −0.06
HPQ HP Inc. Reduce -34.5% 0.09% −0.05
DGRW Wisdomtree U.S. Quality Divi Reduce -5.6% 1.15% −0.05
CVX Chevron Corp. Reduce -20.1% 0.11% −0.04
DIA SS SPDR Dow Jones Indus Avg Reduce -38.3% 0.07% −0.04
VZ Verizon Communications Inc. Reduce -25.3% 0.11% −0.03
HAP Vaneck Natural Resources ETF Reduce -19.4% 0.13% −0.03
IEMG iShares Core MSCI Emerging Reduce -30.1% 0.07% −0.03
AMAT Applied Materials Inc. Reduce -12.4% 0.07% −0.03
TTD Trade Desk Inc./the Class A Reduce -11.3% 0.44% −0.02
GPIX GLDM SA S&P 500 PR in ETF-US Reduce -1.7% 0.69% −0.02
PEP Pepsico Inc. Reduce -10.0% 0.16% −0.02
VDE Vanguard Energy ETF Reduce -2.5% 0.15% −0.02
IGE iShares North American Natur Reduce -2.3% 0.24% −0.02
VGT Vanguard Info Tech ETF Reduce -9.6% 0.12% −0.02
QQQ Invesco QQQ Trust Series 1 Reduce -2.0% 0.27% −0.01
GLIN Vaneck India Growth Leaders Reduce -4.4% 0.50% −0.01
DNN Denison Mines Corp. Reduce -44.1% 0.01% −0.01
LCR Leuthold Core ETF Reduce -2.1% 0.40% −0.01
VONV Vanguard Russell 1000 Value Reduce -9.3% 0.10% −0.01
FCX Freeport-McMoran Inc. Reduce -1.8% 0.08% −0.00
RSG Republic Services Inc. Reduce -2.2% 0.07% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.9% 0.25% −0.00

Portfolio Buys Q2 2024 → Q3 2024
SCHE Schwab Emrg Mrkts Eqty ETF New 2.28% +2.28
KWEB Kranesh Csi China Internet New 1.90% +1.90
DTCR Global X Data Center & Digit New 1.67% +1.67
JIRE JPMorgan Int Res Enh Eqty New 1.53% +1.53
GDX Vaneck Gold Miners ETF Add +13.1% 5.66% +1.20
BRK.B Berkshire Hathaway Inc. Class B Add +96.2% 2.00% +1.05
BNDX Vanguard Total Intl Bond ETF New 0.72% +0.72
VWO Vanguard Ftse Emerging Marke New 0.71% +0.71
IBB iShares Biotechnology ETF New 0.70% +0.70
GLD SPDR Gold Shares Add +4.7% 4.82% +0.56
XLU St Sr Utl SL SE SPDR ETF-Usd Add +8.1% 2.79% +0.51
VTV Vanguard Mrngstr Val ETF-Aui New 0.44% +0.44
SHV iShares 0-1 Year Treasury Bo New 0.41% +0.41
EWH iShares MSCI Hong Kong ETF New 0.34% +0.34
AOR iShares Core 60/40 Balanced Add +129.4% 0.60% +0.34
XLV SS Health Care Select Sector Add +15.3% 2.18% +0.31
SLV iShares Silver Trust New 0.26% +0.26
TDG Transdigm Group Inc. New 0.22% +0.22
CSCO Cisco Systems Inc. Add +0.0% 2.60% +0.17
BABA Alibaba Group Holding-SP ADR New 0.17% +0.17
GSSC Goldman Sachs Activebeta US New 0.14% +0.14
ADVISORS INNER CIRCLE FD III Add +106.9% 0.25% +0.13
V Visa Inc. Class A Add +31.6% 0.54% +0.13
GOVT iShares US Treasury Bond ETF Add +4.5% 3.28% +0.12
ZTS Zoetis Inc. New 0.10% +0.10
GEV GE Vernova Inc. New 0.09% +0.09
PHO Invesco Water Resources ETF Add +3.4% 1.31% +0.09
NJUL Innovator Growth 100 Power B New 0.08% +0.08
PLTR Palantir Technologies Inc. Class A New 0.07% +0.07
TMO Thermo Fisher Scientific Inc. Add +89.2% 0.14% +0.07
WPM Wheaton Precious Metals Corp. New 0.07% +0.07
TWLO Twilio Inc. Class A New 0.07% +0.07
CG The Carlyle Group Inc. New 0.06% +0.06
IDXX Idexx Laboratories Inc. New 0.06% +0.06
ETN Eaton Corp. PLC New 0.06% +0.06
PWRD TCW Transform Systems ETF Add +2.6% 1.04% +0.06
DSTL Distillate US Fundamental St Add +9.2% 0.41% +0.05
HEI Heico Corp. Add +7.6% 0.31% +0.05
IAU iShares Gold Trust Add +1.9% 0.52% +0.05
HL Hecla Mining Co. Add +5.1% 0.14% +0.04
SHY iShares 1-3 Year Treasury Bo Add +7.2% 0.83% +0.03
META Meta Platforms Inc. Class A Add +5.3% 0.25% +0.03
DIVO Amplify CWP Enhan Divid ETF Add +1.2% 1.11% +0.03
KJAN Innovator U.S. Small Cap Pow Add +1.3% 1.02% +0.03
NGD New Gold Inc. New 0.02% +0.02
UNH Unitedhealth Group Inc. Add +20.2% 0.10% +0.02
COST Costco Wholesale Corp. Add +6.0% 0.43% +0.02
QUAL iShares MSCI USA Quality Fac Add +0.6% 2.16% +0.02
NOW ServiceNow Inc. Add +5.3% 0.13% +0.02
NVDA Nvidia Corp. Add +10.3% 0.47% +0.02

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