Avalon Capital Management

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 4, 2025), Avalon Capital Management reported 131 stock positions worth $309.8 million. Its top holding was Alphabet Class A (GOOGL) at 9.9% of the portfolio, followed by Alphabet Class C (GOOG, 6.1%) and Amazon.com (AMZN, 5.6%). Compared with Q3 2024, it opened 23 new positions, sold out of 22, added to 27 and reduced 45. The biggest buy was a new position in Vaneck Bitcoin ETF (HODL) and the biggest sale Vaneck Gold Miners ETF (GDX, shares −57%).

Most Recent 13F
Q2 2026
Location
Port Of Redwood City, CA
CIK
0001510809
Portfolio Value
$309.8M (Q4 2024)
SEC Filing
0001172661-25-000487 ↗ filed Feb 4, 2025

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 Q3 2024 Q4 2024: $309.8M $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 131 stocks · $309.8M
GOOGL Alphabet Inc. Class A 9.93% 162,487 $30.8M Reduce -5.4%
GOOG Alphabet Inc. Class C 6.14% 99,823 $19.0M Reduce -3.1%
AMZN Amazon.com Inc. 5.61% 79,203 $17.4M Reduce -0.4%
AAPL Apple Inc. 5.20% 64,393 $16.1M Reduce -4.8%
MSFT Microsoft Corp. 5.10% 37,490 $15.8M Add +0.2%
GLD SPDR Gold Shares 4.58% 58,636 $14.2M Reduce -10.5%
CSCO Cisco Systems Inc. 3.07% 160,793 $9.5M Reduce -0.1%
SMH Vaneck Semiconductor ETF 2.50% 31,957 $7.7M Add +46.6%
XLU St Sr Utl SL SE SPDR ETF-Usd 2.32% 95,117 $7.2M Reduce -16.5%
QUAL iShares MSCI USA Quality Fac 2.24% 39,038 $7.0M Reduce -1.6%
GDX Vaneck Gold Miners ETF 2.19% 199,798 $6.8M Reduce -57.4%
HODL Vaneck Bitcoin ETF 2.14% 62,735 $6.6M New
MRVL Marvell Technology Inc. 2.02% 56,601 $6.3M Add +0.5%
MOAT Vaneck Morningstar Wide Moat 1.99% 66,551 $6.2M Reduce -3.0%
GOVT iShares US Treasury Bond ETF 1.92% 259,144 $6.0M Reduce -43.9%
BRK.B Berkshire Hathaway Inc. Class B 1.69% 11,518 $5.2M Reduce -19.6%
DTCR Global X Data Center & Digit 1.63% 305,337 $5.1M Reduce -2.6%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 1.58% 86,843 $4.9M Add +0.1%
LLY Eli Lilly & Co. 1.30% 5,212 $4.0M No change
PHO Invesco Water Resources ETF 1.29% 60,771 $4.0M Reduce -0.7%
DIVO Amplify CWP Enhan Divid ETF 1.17% 89,818 $3.6M Add +1.2%
PWRD TCW Transform Systems ETF 1.17% 49,963 $3.6M Add +7.8%
IWP iShares Russell Mid-Cap Grow 1.15% 28,031 $3.6M New
DGRW Wisdomtree U.S. Quality Divi 1.13% 43,392 $3.5M Reduce -4.7%
KJAN Innovator U.S. Small Cap Pow 1.08% 89,797 $3.4M Reduce -1.4%
VOT Vngrd Mrngstr MC GRW ETF-Usd 1.05% 12,810 $3.3M New
COWZ Pacer US Cash Cows 100 ETF 1.00% 54,784 $3.1M Reduce -0.6%
SHV iShares 0-1 Year Treasury Bo 0.95% 26,618 $2.9M Add +118.3%
TSLA Tesla Inc. 0.93% 7,139 $2.9M No change
FLTR Vaneck Ig Floating Rate ETF 0.81% 98,861 $2.5M New
GSST Goldman Sachs Ultra Short Bo 0.79% 49,018 $2.5M Add +531.4%
GPIX GLDM SA S&P 500 PR in ETF-US 0.78% 48,849 $2.4M Add +4.7%
KBWB Invesco KBW Bank ETF 0.77% 36,341 $2.4M New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.74% 20,618 $2.3M Reduce -3.5%
BNDX Vanguard Total Intl Bond ETF 0.72% 45,182 $2.2M Reduce -4.9%
IGV iShares Expanded Tech-Softwa 0.70% 21,566 $2.2M New
EMB iShares JP Morgan Usd Emergi 0.70% 24,242 $2.2M New
IAI iShares U.S. Broker-Dealers 0.67% 14,386 $2.1M New
V Visa Inc. Class A 0.67% 6,543 $2.1M Add +0.6%
VOX Vanguard Communication Servi 0.63% 12,597 $2.0M New
RAAX Vaneck Real Assets ETF 0.62% 68,132 $1.9M New
NVDA Nvidia Corp. 0.59% 13,718 $1.8M Add +7.6%
ET Energy Transfer LP 0.50% 79,760 $1.6M Add +2.8%
LCR Leuthold Core ETF 0.50% 45,233 $1.6M Add +22.3%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.50% 13,100 $1.5M Reduce -1.3%
IAU iShares Gold Trust 0.49% 30,392 $1.5M Reduce -12.7%
GLIN Vaneck India Growth Leaders 0.47% 29,840 $1.5M Reduce -1.9%
ORCL Oracle Corp. 0.47% 8,771 $1.5M Reduce -7.8%
COST Costco Wholesale Corp. 0.45% 1,510 $1.4M Reduce -6.2%
DSTL Distillate US Fundamental St 0.40% 22,672 $1.2M Reduce -4.2%
SLV iShares Silver Trust 0.39% 46,077 $1.2M Add +55.1%
VWO Vanguard Ftse Emerging Marke 0.37% 26,318 $1.2M Reduce -46.6%
ANET Arista Networks Inc. 0.36% 9,972 $1.1M Add +19.1%
AOR iShares Core 60/40 Balanced 0.34% 18,119 $1.0M Reduce -46.0%
SCJ iShares MSCI Japan Small-Cap 0.33% 14,070 $1.0M New
EWJ iShares MSCI Japan ETF 0.31% 14,397 $966K New
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.31% 3,623 $957K New
HEI Heico Corp. 0.30% 3,917 $931K Add +0.8%
QQQ Invesco QQQ Trust Series 1 0.30% 1,797 $919K No change
BX Blackstone Inc. 0.30% 5,320 $917K No change
META Meta Platforms Inc. Class A 0.28% 1,468 $860K Add +1.7%
SCHD Schwab US DVD Equity ETF 0.27% 31,050 $848K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.27% 1,414 $829K Reduce -0.1%
AEM Agnico Eagle Mines Ltd. 0.25% 10,051 $786K Add +57.8%
DHR Danaher Corp. 0.24% 3,265 $749K Reduce -12.1%
XLK SS Technology Select Sector 0.24% 3,180 $739K No change
TDG Transdigm Group Inc. 0.24% 581 $736K Add +11.7%
NOW ServiceNow Inc. 0.23% 680 $721K Add +41.7%
BIP Brookfield Infrastructure Pa 0.22% 21,751 $691K No change
ULTA Ulta Beauty Inc. 0.22% 1,572 $684K New
PLTR Palantir Technologies Inc. Class A 0.22% 8,850 $669K Add +39.4%
IGE iShares North American Natur 0.21% 15,441 $660K Reduce -13.8%
MRK Merck & Co. Inc. 0.21% 6,604 $657K Reduce -3.6%
NFLX Netflix Inc. 0.21% 735 $655K Add +51.5%
ADVISORS INNER CIRCLE FD III 0.21% 25,965 $643K Reduce -14.9%
TSM Taiwan Semiconductor-SP ADR 0.21% 3,224 $637K Add +37.1%
XAR SS SPDR S&P Aerospace Def 0.20% 3,721 $617K No change
MPLX MPLX LP 0.18% 11,635 $557K No change
GEV GE Vernova Inc. 0.18% 1,680 $553K Add +43.0%
XLI SS Industrial Select Sector 0.18% 4,121 $543K No change
A Agilent Technologies Inc. 0.17% 3,913 $526K No change
SHY iShares 1-3 Year Treasury Bo 0.17% 6,402 $525K Reduce -80.5%
APD Air Products & Chemicals Inc. 0.16% 1,730 $502K No change
PG The Procter & Gamble Co. 0.16% 2,940 $493K Reduce -14.3%
ADBE Adobe Inc. 0.16% 1,085 $482K Reduce -17.2%
VDE Vanguard Energy ETF 0.15% 3,958 $480K No change
AMD Advanced Micro Devices 0.15% 3,912 $473K No change
CVX Chevron Corp. 0.15% 3,170 $459K Add +28.3%
MA Mastercard Inc. Class A 0.15% 867 $457K No change
SCHW Schwab (charles) Corp. 0.14% 6,046 $447K Reduce -1.5%
JNJ Johnson & Johnson 0.14% 2,959 $428K No change
IBIT iShares Bitcoin Trust ETF 0.14% 8,000 $424K New
VOO Vanguard S&P 500 ETF 0.14% 787 $424K No change
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.14% 4,350 $422K No change
KMI Kinder Morgan Inc. 0.13% 15,000 $411K No change
VGT Vanguard Info Tech ETF 0.13% 648 $403K No change
TWLO Twilio Inc. Class A 0.12% 3,472 $375K No change
JPM JPMorgan Chase & Co. 0.12% 1,516 $363K Reduce -9.4%
GSSC Goldman Sachs Activebeta US 0.11% 4,981 $344K Reduce -27.1%
EW Edwards Lifesciences Corp. 0.11% 4,479 $332K Reduce -5.0%
SPGI S&P Global Inc. 0.10% 652 $325K No change
PEP Pepsico Inc. 0.10% 2,108 $321K Reduce -31.1%
VMC Vulcan Materials Co. 0.10% 1,238 $318K New
VZ Verizon Communications Inc. 0.10% 7,952 $318K Reduce -3.6%
VONV Vanguard Russell 1000 Value 0.10% 3,781 $307K No change
TXN Texas Instruments Inc. 0.10% 1,615 $303K Reduce -13.7%
XLC SS Comm Select Sector SPDR 0.09% 2,866 $277K New
B Barrick Gold Corp. 0.09% 17,600 $273K Reduce -4.3%
NJUL Innovator Growth 100 Power B 0.09% 4,294 $270K No change
HPQ HP Inc. 0.08% 8,050 $263K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.08% 611 $260K Add +8.0%
VGSH Vanguard Short-Term Treasury 0.08% 4,409 $257K New
QLTY GMO U.S. Quality ETF 0.08% 8,019 $256K Reduce -0.9%
CNX CNX Resources Corp. 0.08% 6,923 $254K New
VYM Vanguard High DVD Yield ETF 0.08% 1,963 $250K Add +0.8%
XLF SS Financial Select Sector 0.08% 5,050 $244K No change
RSG Republic Services Inc. 0.08% 1,203 $242K No change
CG The Carlyle Group Inc. 0.08% 4,778 $241K No change
NEE Nextera Energy Inc. 0.08% 3,364 $241K No change
CPRT Copart Inc. 0.08% 4,072 $234K New
NRP Natural Resource Partners LP 0.07% 2,000 $222K New
MELI MercadoLibre Inc. 0.07% 128 $218K New
XLY SS Consumer Disc Select Sect 0.07% 960 $215K New
WPM Wheaton Precious Metals Corp. 0.07% 3,801 $214K No change
FCX Freeport-McMoran Inc. 0.07% 5,590 $213K No change
ETN Eaton Corp. PLC 0.07% 608 $202K No change
HL Hecla Mining Co. 0.06% 39,114 $192K Reduce -45.3%
SAND Sandstorm Gold Ltd. 0.04% 25,000 $140K No change
CLF Cleveland-Cliffs Inc. 0.04% 14,000 $132K No change
SA Seabridge Gold Inc. 0.04% 10,300 $118K No change
DNN Denison Mines Corp. 0.01% 11,170 $20K No change

Portfolio Sells Q3 2024 → Q4 2024
GDX Vaneck Gold Miners ETF Reduce -57.4% 2.19% −3.47
TLT iShares 20+ Year Treasury BD Sold out 0.00% −2.45
SCHE Schwab Emrg Mrkts Eqty ETF Sold out 0.00% −2.28
XLV SS Health Care Select Sector Sold out 0.00% −2.18
KWEB Kranesh Csi China Internet Sold out 0.00% −1.90
JIRE JPMorgan Int Res Enh Eqty Sold out 0.00% −1.53
GOVT iShares US Treasury Bond ETF Reduce -43.9% 1.92% −1.36
IBB iShares Biotechnology ETF Sold out 0.00% −0.70
SHY iShares 1-3 Year Treasury Bo Reduce -80.5% 0.17% −0.66
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -16.5% 2.32% −0.46
VTV Vanguard Mrngstr Val ETF-Aui Sold out 0.00% −0.44
SLVP iShares MSCI Global Silver A Sold out 0.00% −0.36
EWH iShares MSCI Hong Kong ETF Sold out 0.00% −0.34
VWO Vanguard Ftse Emerging Marke Reduce -46.6% 0.37% −0.34
BRK.B Berkshire Hathaway Inc. Class B Reduce -19.6% 1.69% −0.31
AOR iShares Core 60/40 Balanced Reduce -46.0% 0.34% −0.27
COPX Global X Copper Miners ETF Sold out 0.00% −0.26
GLD SPDR Gold Shares Reduce -10.5% 4.58% −0.24
IEF iShares 7-10 Year Treasury B Sold out 0.00% −0.22
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.17
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.14
HAP Vaneck Natural Resources ETF Sold out 0.00% −0.13
ZTS Zoetis Inc. Sold out 0.00% −0.10
UNH Unitedhealth Group Inc. Sold out 0.00% −0.10
HL Hecla Mining Co. Reduce -45.3% 0.06% −0.08
IEMG iShares Core MSCI Emerging Sold out 0.00% −0.07
OXY Occidental Petroleum Corp. Sold out 0.00% −0.07
AMAT Applied Materials Inc. Sold out 0.00% −0.07
DHR Danaher Corp. Reduce -12.1% 0.24% −0.07
IDXX Idexx Laboratories Inc. Sold out 0.00% −0.06
PEP Pepsico Inc. Reduce -31.1% 0.10% −0.05
ADBE Adobe Inc. Reduce -17.2% 0.16% −0.05
ADVISORS INNER CIRCLE FD III Reduce -14.9% 0.21% −0.04
DTCR Global X Data Center & Digit Reduce -2.6% 1.63% −0.04
IAU iShares Gold Trust Reduce -12.7% 0.49% −0.04
GSSC Goldman Sachs Activebeta US Reduce -27.1% 0.11% −0.03
GLIN Vaneck India Growth Leaders Reduce -1.9% 0.47% −0.03
IGE iShares North American Natur Reduce -13.8% 0.21% −0.03
NGD New Gold Inc. Sold out 0.00% −0.02
MOAT Vaneck Morningstar Wide Moat Reduce -3.0% 1.99% −0.02
MRK Merck & Co. Inc. Reduce -3.6% 0.21% −0.02
B Barrick Gold Corp. Reduce -4.3% 0.09% −0.02
PG The Procter & Gamble Co. Reduce -14.3% 0.16% −0.02
TXN Texas Instruments Inc. Reduce -13.7% 0.10% −0.02
ORCL Oracle Corp. Reduce -7.8% 0.47% −0.02
PHO Invesco Water Resources ETF Reduce -0.7% 1.29% −0.02
DGRW Wisdomtree U.S. Quality Divi Reduce -4.7% 1.13% −0.01
VZ Verizon Communications Inc. Reduce -3.6% 0.10% −0.01
BNDX Vanguard Total Intl Bond ETF Reduce -4.9% 0.72% −0.01
DSTL Distillate US Fundamental St Reduce -4.2% 0.40% −0.00

Portfolio Buys Q3 2024 → Q4 2024
HODL Vaneck Bitcoin ETF New 2.14% +2.14
IWP iShares Russell Mid-Cap Grow New 1.15% +1.15
VOT Vngrd Mrngstr MC GRW ETF-Usd New 1.05% +1.05
SMH Vaneck Semiconductor ETF Add +46.6% 2.50% +0.88
FLTR Vaneck Ig Floating Rate ETF New 0.81% +0.81
MRVL Marvell Technology Inc. Add +0.5% 2.02% +0.79
KBWB Invesco KBW Bank ETF New 0.77% +0.77
IGV iShares Expanded Tech-Softwa New 0.70% +0.70
EMB iShares JP Morgan Usd Emergi New 0.70% +0.70
GSST Goldman Sachs Ultra Short Bo Add +531.4% 0.79% +0.68
IAI iShares U.S. Broker-Dealers New 0.67% +0.67
VOX Vanguard Communication Servi New 0.63% +0.63
RAAX Vaneck Real Assets ETF New 0.62% +0.62
SHV iShares 0-1 Year Treasury Bo Add +118.3% 0.95% +0.54
SCJ iShares MSCI Japan Small-Cap New 0.33% +0.33
EWJ iShares MSCI Japan ETF New 0.31% +0.31
VO Vngrd Mrngstr MD-Cap ETF-Usd New 0.31% +0.31
MSFT Microsoft Corp. Add +0.2% 5.10% +0.22
ULTA Ulta Beauty Inc. New 0.22% +0.22
PLTR Palantir Technologies Inc. Class A Add +39.4% 0.22% +0.14
IBIT iShares Bitcoin Trust ETF New 0.14% +0.14
JEPQ JPM Nasdaq Equity Premium Add +0.1% 1.58% +0.14
SLV iShares Silver Trust Add +55.1% 0.39% +0.14
PWRD TCW Transform Systems ETF Add +7.8% 1.17% +0.13
ET Energy Transfer LP Add +2.8% 0.50% +0.13
V Visa Inc. Class A Add +0.6% 0.67% +0.13
NVDA Nvidia Corp. Add +7.6% 0.59% +0.13
ANET Arista Networks Inc. Add +19.1% 0.36% +0.11
NFLX Netflix Inc. Add +51.5% 0.21% +0.11
LCR Leuthold Core ETF Add +22.3% 0.50% +0.10
VMC Vulcan Materials Co. New 0.10% +0.10
NOW ServiceNow Inc. Add +41.7% 0.23% +0.10
AEM Agnico Eagle Mines Ltd. Add +57.8% 0.25% +0.10
XLC SS Comm Select Sector SPDR New 0.09% +0.09
GEV GE Vernova Inc. Add +43.0% 0.18% +0.09
GPIX GLDM SA S&P 500 PR in ETF-US Add +4.7% 0.78% +0.09
VGSH Vanguard Short-Term Treasury New 0.08% +0.08
CNX CNX Resources Corp. New 0.08% +0.08
TSM Taiwan Semiconductor-SP ADR Add +37.1% 0.21% +0.08
CPRT Copart Inc. New 0.08% +0.08
NRP Natural Resource Partners LP New 0.07% +0.07
MELI MercadoLibre Inc. New 0.07% +0.07
XLY SS Consumer Disc Select Sect New 0.07% +0.07
DIVO Amplify CWP Enhan Divid ETF Add +1.2% 1.17% +0.07
CVX Chevron Corp. Add +28.3% 0.15% +0.04
META Meta Platforms Inc. Class A Add +1.7% 0.28% +0.03
TDG Transdigm Group Inc. Add +11.7% 0.24% +0.01
DIA SS SPDR Dow Jones Indus Avg Add +8.0% 0.08% +0.01
VYM Vanguard High DVD Yield ETF Add +0.8% 0.08% +0.01
HEI Heico Corp. Add +0.8% 0.30% −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