Crescent Grove Advisors, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Crescent Grove Advisors, LLC reported 294 stock positions worth $1.1 billion. Its top holding was Zurn Elkay Water Solutions C (ZWS) at 10.3% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 6.5%) and Vanguard S&P 500 ETF (VOO, 5.0%). Compared with Q3 2025, it opened 23 new positions, sold out of 18, added to 88 and reduced 97. The biggest buy was iShares 0-3 Month Treasury B (SGOV, shares +50%) and the biggest sale Zurn Elkay Water Solutions C (ZWS, shares −5%).

Most Recent 13F
Q2 2026
Location
LAKE FOREST, IL
CIK
0001713520
Portfolio Value
$1.1B (Q4 2025)
SEC Filing
0000892712-26-000077 ↗ filed Feb 11, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $958.9M Q1 2024 Q2 2024: $912.5M Q2 2024 Q3 2024: $980.0M Q3 2024 Q4 2024: $1.0B Q4 2024 Q1 2025: $959.5M Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.0B Q3 2025 Q4 2025: $1.1B $1.1B Q4 2025 Q1 2026: $1.0B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 294 stocks · $1.1B
ZWS Zurn Elkay Water Solutions C 10.28% 2,324,647 $108.1M Reduce -4.5%
IVV iShares Core S&P 500 ETF 6.55% 100,513 $68.8M Reduce -1.4%
VOO Vanguard S&P 500 ETF 4.98% 83,555 $52.4M Add +0.2%
SPY SS SPDR S&P 500 ETF Trust-US 3.46% 53,212 $36.4M Reduce -9.5%
VTI VG Morningstar TS MKT ETF-US 2.79% 87,617 $29.4M Add +0.5%
ICE Intercontinental Exchange Inc. 2.35% 152,500 $24.7M No change
IEMG iShares Core MSCI Emerging 2.27% 354,728 $23.8M Add +0.8%
QQQ Invesco QQQ Trust Series 1 2.15% 36,814 $22.6M Reduce -1.0%
CDW CDW Corp. 2.08% 160,710 $21.9M No change
SHV iShares 0-1 Year Treasury Bo 2.06% 196,589 $21.7M Add +10.5%
IJR iShares Core S&P Small-Cap E 1.97% 172,334 $20.7M Reduce -1.7%
SGOV iShares 0-3 Month Treasury B 1.96% 205,156 $20.6M Add +49.8%
IJH iShares Core S&P Midcap ETF 1.94% 308,594 $20.4M Add +3.1%
FNF Fidelity National Financial 1.92% 369,205 $20.2M Add +21.0%
AAPL Apple Inc. 1.89% 73,112 $19.9M Reduce -7.0%
IWF iShares Russell 1000 Growth 1.85% 41,073 $19.4M Reduce -2.0%
IEFA iShares Core MSCI Eafe ETF 1.77% 207,869 $18.6M Add +1.9%
UYLD Angel Oak Ultrashort Income 1.70% 348,678 $17.9M Add +12.1%
IUSV iShares Core S&P U.S. Value 1.59% 163,211 $16.7M Reduce -0.3%
NATL NCR Atleos Corp. 1.41% 388,408 $14.8M Reduce -13.9%
ITOT iShares Core S&P Total U.S. 1.19% 83,924 $12.5M Reduce -7.4%
VYM Vanguard High DVD Yield ETF 1.10% 80,839 $11.6M Add +1.9%
CARY Angel Oak Income ETF 1.05% 523,639 $11.0M Reduce -3.1%
XLF SS Financial Select Sector 0.97% 185,379 $10.2M Reduce -0.0%
FIS Fidelity National Info Serv 0.95% 150,930 $10.0M Reduce -11.2%
XLE SS Energy Select Sector 0.86% 201,260 $9.0M Reduce -10.2%
IWP iShares Russell Mid-Cap Grow 0.80% 61,332 $8.4M Add +0.0%
HEFA Isha Curr Hedged MSCI Eafe 0.80% 202,951 $8.4M Add +28.5%
XBI SS SPDR S&P Biotech ETF 0.78% 67,024 $8.2M Reduce -4.3%
IAU iShares Gold Trust 0.74% 95,433 $7.7M Add +1.1%
XLG Invesco S&P 500 Top 50 ETF 0.66% 117,638 $7.0M No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.64% 74,174 $6.8M Reduce -33.9%
NVDA Nvidia Corp. 0.63% 35,324 $6.6M Reduce -0.9%
VEA Vanguard Ftse Developed ETF 0.62% 104,245 $6.5M Reduce -2.0%
VYX NCR Voyix Corp. 0.60% 616,682 $6.3M Reduce -0.8%
MSFT Microsoft Corp. 0.59% 12,890 $6.2M Reduce -1.5%
GLD SPDR Gold Shares 0.59% 15,719 $6.2M Add +25.3%
IWD iShares Russell 1000 Value E 0.59% 29,577 $6.2M Reduce -1.6%
IJS iShares S&P Small-Cap 600 Va 0.58% 53,549 $6.1M Add +1.5%
SPYD SS SPDR P S&P 500 Hi Div ETF 0.57% 138,334 $6.0M Reduce -1.2%
IWM iShares Russell 2000 ETF 0.55% 23,535 $5.8M Add +0.4%
CARR Carrier Global Corp. 0.53% 104,631 $5.5M Reduce -0.0%
FISV Fiserv Inc. 0.51% 79,755 $5.4M New
IXUS iShares Core Intl Stock ETF 0.51% 62,851 $5.3M Reduce -0.5%
GSL Global Ship Lease Inc. Class A 0.50% 149,471 $5.2M Add +12.5%
XLI SS Industrial Select Sector 0.49% 32,929 $5.1M Add +11.3%
EFA iShares MSCI Eafe ETF 0.48% 52,963 $5.1M Reduce -0.6%
IGSB iShares 1-5Y Inv Grade Corp. 0.47% 94,239 $5.0M Reduce -1.4%
ARKW ARK Next Generation Technolo 0.47% 33,158 $4.9M Reduce -10.2%
IBB iShares Biotechnology ETF 0.46% 28,398 $4.8M Reduce -7.0%
AMZN Amazon.com Inc. 0.43% 19,802 $4.6M Reduce -1.3%
VXUS Vanguard Total Intl Stock 0.43% 59,465 $4.5M Add +1.7%
EMXC iShares MSCI Emr MRK Ex Chna 0.42% 60,131 $4.4M Add +11.2%
DVYE iShares Emerging Markets Div 0.41% 139,341 $4.3M Add +1.0%
IWO iShares Russell 2000 Growth 0.41% 13,422 $4.3M Reduce -6.2%
SHY iShares 1-3 Year Treasury Bo 0.41% 52,184 $4.3M Reduce -1.7%
BRK.B Berkshire Hathaway Inc. Class B 0.41% 8,524 $4.3M Reduce -3.7%
GDX Vaneck Gold Miners ETF 0.40% 49,623 $4.3M Add +59.9%
SIL Global X Silver Miners ETF 0.39% 47,940 $4.0M Add +283.1%
SLV iShares Silver Trust 0.38% 62,723 $4.0M Add +101.8%
TSLA Tesla Inc. 0.38% 8,844 $4.0M Add +0.8%
IDV iShares International Select 0.35% 93,114 $3.7M Add +4.4%
QUAL iShares MSCI USA Quality Fac 0.35% 18,489 $3.7M Reduce -6.2%
ASB Associated Banc-Corp. 0.35% 142,395 $3.7M Add +23.4%
GNR State Street SPDR S&P Global 0.33% 55,341 $3.4M Add +13.4%
PAAS Pan American Silver Corp. 0.31% 63,704 $3.3M Add +64.7%
ET Energy Transfer LP 0.31% 199,993 $3.3M Reduce -46.7%
CNNE Cannae Holdings Inc. 0.29% 195,819 $3.1M Add +1.9%
DVY iShares Select Dividend ETF 0.27% 20,263 $2.9M Add +2.3%
ARKK ARK Innovation ETF 0.25% 33,599 $2.6M Reduce -0.9%
NEM Newmont Corp. 0.24% 24,753 $2.5M Add +29.9%
JPM JPMorgan Chase & Co. 0.23% 7,569 $2.4M Reduce -18.4%
CIBR First Trust Nasdaq Cybersecu 0.22% 32,958 $2.4M Reduce -1.8%
SHW The Sherwin-Williams Co. 0.22% 7,198 $2.3M No change
AEM Agnico Eagle Mines Ltd. 0.22% 13,480 $2.3M Add +150.1%
ARLP Alliance Resource Partners 0.21% 96,890 $2.3M Reduce -66.5%
EPD Enterprise Products Partners 0.21% 69,662 $2.2M Reduce -59.5%
GOOGL Alphabet Inc. Class A 0.20% 6,827 $2.1M Reduce -13.7%
IWR iShares Russell Mid-Cap ETF 0.20% 21,781 $2.1M Add +6.6%
QQQM Invesco Nasdaq 100 ETF 0.19% 7,996 $2.0M Reduce -6.8%
VWO Vanguard Ftse Emerging Marke 0.19% 37,571 $2.0M Add +0.2%
SPMD SS SPDR P S&P 400 Midcap ETF 0.19% 34,668 $2.0M Reduce -3.9%
FG F&G Annuities & Life Inc. 0.19% 64,280 $2.0M Add +87.2%
BANC Banc of California Inc. 0.19% 101,750 $2.0M Add +0.6%
PAA Plains All Amer Pipeline LP 0.19% 109,604 $2.0M Reduce -20.9%
VIG Vanguard Dividend Apprec ETF 0.18% 8,717 $1.9M Add +0.4%
MPLX MPLX LP 0.18% 35,765 $1.9M Reduce -65.7%
DTH Wisdomtree International Hig 0.18% 36,426 $1.9M No change
PG The Procter & Gamble Co. 0.17% 12,612 $1.8M Reduce -5.2%
MAN Manpowergroup Inc. 0.17% 60,239 $1.8M Add +1.9%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.17% 4,335 $1.8M No change
BX Blackstone Inc. 0.17% 11,454 $1.8M Reduce -1.7%
SPSM SS SPDR P S&P 600 Small Cap 0.16% 35,732 $1.7M Reduce -6.0%
IHAK iShares Cybersecurity & Tech 0.16% 34,290 $1.7M Add +2.9%
EXAS Exact Sciences Corp. 0.15% 16,005 $1.6M No change
IGM iShares Expanded Tech Sector 0.15% 12,140 $1.6M Reduce -15.3%
IEF iShares 7-10 Year Treasury B 0.15% 16,288 $1.6M Add +19.4%
IJJ iShares S&P Mid-Cap 400 Valu 0.15% 11,806 $1.6M Add +1.0%
IXJ iShares Global Healthcare Et 0.15% 15,940 $1.6M No change
ARKQ ARK Autonomous Tech & Robot 0.14% 13,263 $1.5M Add +1.3%
XLP SS Consumer Staples Sel Sect 0.14% 18,629 $1.4M No change
LNTH Lantheus Holdings Inc. 0.13% 21,073 $1.4M No change
EEM iShares MSCI Emerging Market 0.13% 25,605 $1.4M Add +0.5%
XOM Exxon Mobil Corp. 0.13% 11,542 $1.4M Reduce -2.6%
TXT Textron Inc. 0.13% 15,792 $1.4M Add +15.9%
GOOG Alphabet Inc. Class C 0.13% 4,348 $1.4M Reduce -16.3%
KXI iShares Global Consumer Stap 0.13% 20,700 $1.3M No change
IWV iShares Russell 3000 ETF 0.13% 3,433 $1.3M Reduce -13.5%
IVE iShares S&P 500 Value ETF 0.13% 6,255 $1.3M Reduce -1.2%
NTRS Northern Trust Corp. 0.13% 9,625 $1.3M Add +19.9%
SPHD Invesco S&P 500 High Dividen 0.13% 27,517 $1.3M Add +7.1%
ITA iShares U.S. Aerospace & Def 0.12% 6,040 $1.3M Reduce -2.7%
AMD Advanced Micro Devices 0.11% 5,627 $1.2M Add +5.6%
IBDR iShares Ibonds Dec 2026 Term 0.11% 49,030 $1.2M Reduce -15.8%
VTV Vanguard Mrngstr Val ETF-Aui 0.11% 6,152 $1.2M Add +0.1%
MU Micron Technology Inc. 0.11% 4,110 $1.2M Add +10.8%
ALKT Alkami Technology Inc. 0.11% 50,000 $1.2M New
IVW iShares S&P 500 Growth ETF 0.11% 9,251 $1.1M Reduce -0.4%
XT Ishar Fture Exp Tech ETF-Usd 0.11% 16,266 $1.1M Reduce -6.5%
ARKG ARK Genomic Revolution ETF 0.11% 38,989 $1.1M Add +6.7%
KSS Kohls Corp. 0.11% 55,000 $1.1M Reduce -0.4%
ABBV Abbvie Inc. 0.11% 4,873 $1.1M Reduce -0.3%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.11% 13,255 $1.1M No change
DFAI Dimensional International Co. 0.11% 29,112 $1.1M Add +67.7%
IWN iShares Russell 2000 Value E 0.10% 5,835 $1.1M Add +2.4%
IR Ingersoll-Rand Inc. 0.10% 13,344 $1.1M New
VUG Vanguard Mrngstar GR ETF-Sui 0.10% 2,130 $1.0M No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.09% 7,056 $996K No change
FBTC Fidelity Wise Origin Bitcoin 0.09% 13,005 $991K Add +465.4%
EUSA iShares MSCI USA Equal Weigh 0.09% 9,043 $935K Add +60.5%
TECL Dire Dai Tec Bull 3X ETF-Usd 0.09% 7,843 $921K No change
HACK Amplify Cybersecurity ETF 0.09% 11,252 $904K No change
SPHQ Invesco S&P 500 Quality ETF 0.09% 12,035 $903K No change
RSP Invesco S&P 500 Equal Weight 0.09% 4,683 $897K Add +2.7%
MRK Merck & Co. Inc. 0.08% 8,180 $868K Reduce -13.5%
GS Goldman Sachs Group Inc. 0.08% 974 $856K Add +7.3%
JEPI JPMorgan Equity Premium Inco 0.08% 14,798 $850K Add +163.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.08% 2,814 $834K No change
PM Philip Morris International 0.08% 5,133 $831K Add +0.0%
SCHG Schwab US Large-Cap Growth 0.08% 25,277 $825K Add +1.1%
IWS iShares Russell Mid-Cap Valu 0.08% 5,814 $820K No change
GSLC Goldman Activebeta US LC ETF 0.08% 6,179 $818K No change
COST Costco Wholesale Corp. 0.08% 932 $804K Add +35.9%
ISCG iShares Morningstar Small-Ca 0.08% 14,337 $795K No change
BUSE First Busey Corp. 0.08% 33,264 $791K No change
XLV SS Health Care Select Sector 0.07% 5,074 $785K Add +234.9%
WEAV Weave Communications Inc. 0.07% 103,101 $783K No change
IJK iShares S&P Mid-Cap 400 Grow 0.07% 7,866 $762K Reduce -0.6%
BRK.A Berkshire Hathaway Inc. Class A 0.07% 1 $755K No change
IGF iShares Global Infrastructur 0.07% 12,200 $749K No change
RNMN Rivernorth MRKT Neutral ETF 0.07% 29,131 $744K No change
BA The Boeing Co. 0.07% 3,386 $735K Add +11.1%
META Meta Platforms Inc. Class A 0.07% 1,104 $729K Reduce -25.0%
JNJ Johnson & Johnson 0.07% 3,405 $705K Reduce -0.5%
ETN Eaton Corp. PLC 0.07% 2,212 $704K Reduce -9.2%
UPS United Parcel Service Class B 0.06% 6,700 $665K Reduce -3.1%
BKNG Booking Holdings Inc. 0.06% 123 $659K No change
CDE Coeur Mining Inc. 0.06% 35,400 $631K New
CEG Constellation Energy 0.06% 1,749 $618K Reduce -14.9%
HD Home Depot Inc. 0.06% 1,784 $614K Add +48.7%
HDEF Xtrackers MSCI Eafe High Div 0.06% 18,968 $588K No change
CVX Chevron Corp. 0.06% 3,850 $587K Reduce -7.4%
TLN Talen Energy Corp. 0.06% 1,564 $586K Add +45.8%
GEV GE Vernova Inc. 0.05% 882 $577K Reduce -21.8%
ABT Abbott Laboratories 0.05% 4,553 $570K Add +0.0%
VGK Vanguard Ftse Europe ETF 0.05% 6,518 $545K No change
SCHW Schwab (charles) Corp. 0.05% 5,420 $542K Reduce -8.4%
IWB iShares Russell 1000 ETF 0.05% 1,450 $541K Add +4.5%
WPM Wheaton Precious Metals Corp. 0.05% 4,473 $526K New
DKNG Draftkings Inc. Class A 0.05% 15,022 $518K No change
JNK SS SPDR BB High Yield Bond 0.05% 5,308 $516K No change
BLK BlackRock Inc. 0.05% 475 $508K No change
BCD Abrdn Bloomberg All Commodit filed as ABRDN ETFS 0.05% 16,371 $507K No change
QUAD Quad Graphics Inc. 0.05% 80,490 $505K Add +33.1%
OBIL F/M US Treasury 12 Month Bil 0.05% 10,020 $503K Add +14.6%
NRG NRG Energy Inc. 0.05% 3,148 $501K New
BXSL Blackstone Secured Lending F 0.05% 18,390 $498K New
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.05% 3,839 $498K No change
GE General Electric filed as GE AEROSPACE 0.05% 1,609 $496K Reduce -39.4%
FNV Franco-Nevada Corp. 0.05% 2,357 $489K New
VXF Vanguard Extended Market ETF 0.05% 2,308 $483K No change
MDYV SS SPDR S&P 400 MC Val ETF 0.05% 5,636 $477K Reduce -3.9%
NOBL Proshares S&P 500 Dividend A 0.05% 4,574 $476K No change
ACWX iShares MSCI Acwi Ex US ETF 0.05% 7,057 $474K Add +1.4%
ROK Rockwell Automation Inc. 0.04% 1,210 $471K Add +0.1%
TSM Taiwan Semiconductor-SP ADR 0.04% 1,510 $460K Reduce -4.4%
RIO Rio Tinto PLC-Spon ADR 0.04% 5,727 $458K Add +88.9%
VRT Vertiv Holdings Co. Class A 0.04% 2,826 $458K Add +40.9%
V Visa Inc. Class A 0.04% 1,299 $456K Reduce -4.5%
IYW iShares Ustechnology ETF 0.04% 2,272 $454K No change
MFC Manulife Financial Corp. 0.04% 12,389 $449K Add +0.7%
KO The Coca-Cola Co. 0.04% 6,233 $436K Add +0.3%
KRE SS SPDR S&P Regional Bank 0.04% 6,659 $432K No change
FDVV Fidelity High Dividend ETF 0.04% 7,367 $418K No change
UNH Unitedhealth Group Inc. 0.04% 1,264 $417K Add +0.2%
CMC Commercial Metals Co. 0.04% 5,990 $415K No change
CVS CVS Health Corp. 0.04% 5,206 $413K Reduce -19.6%
IUSG iShares Core S&P U.S. Growth 0.04% 2,444 $411K No change
TDG Transdigm Group Inc. 0.04% 306 $407K No change
VHT Vanguard Health Care ETF 0.04% 1,386 $399K New
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.04% 1,260 $397K No change
VB Vanguard Most SM-Cap ETF-Usd 0.04% 1,532 $395K No change
WMT Walmart Inc. 0.04% 3,516 $393K Reduce -27.9%
MMM 3M Co. 0.04% 2,445 $391K Reduce -0.2%
NAD Nuveen Quality Municipal Inc. 0.04% 31,735 $381K Reduce -21.2%
IJT iShares S&P Small-Cap 600 GR 0.04% 2,669 $377K No change
EFV iShares MSCI Eafe Value ETF 0.04% 5,262 $376K No change
CTAS Cintas Corp. 0.04% 1,976 $372K No change
PSFE Paysafe Ltd. 0.03% 45,113 $365K No change
UL Unilever PLC-Sponsored ADR 0.03% 5,540 $362K No change
MAS Masco Corp. 0.03% 5,700 $362K No change
NXPI NXP Semiconductors NV 0.03% 1,655 $361K Reduce -10.0%
REMX Vaneck Rar Earth ND STG-Usdi 0.03% 4,845 $358K Add +10.6%
EDIV State Street SPDR S&P Emergi 0.03% 9,127 $357K No change
PRNT The 3D Printing ETF 0.03% 15,968 $357K Reduce -14.1%
ISVL iShares International Develo 0.03% 7,355 $350K Add +43.4%
SCZ iShares MSCI Eafe Small-Cap 0.03% 4,505 $349K Reduce -1.6%
AAXJ iShares MSCI All Country Asi 0.03% 3,736 $348K Add +1.3%
ACGL Arch Capital Group Ltd. 0.03% 3,590 $344K No change
SCHD Schwab US DVD Equity ETF 0.03% 12,479 $342K Reduce -21.1%
MYI BlackRock Muniyield QLTY III 0.03% 31,350 $341K Reduce -21.4%
ILTB iShares Core 10+ Year Usd Bo 0.03% 6,765 $336K No change
VBK Van Morst SML-Cap Gro-Usd Inc. 0.03% 1,109 $335K Reduce -0.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.03% 2,162 $332K No change
IWC iShares Micro-Cap ETF 0.03% 2,090 $330K No change
CMI Cummins Inc. 0.03% 644 $329K No change
TGT Target Corp. 0.03% 3,309 $323K New
XTNT Xtant Medical Holdings Inc. 0.03% 412,024 $323K No change
ALL Allstate Corp. 0.03% 1,544 $323K No change
IHF iShares U.S. Healthcare Prov 0.03% 6,591 $316K No change
XAR SS SPDR S&P Aerospace Def 0.03% 1,310 $316K Add +18.1%
AVGO Broadcom Inc. 0.03% 912 $316K Add +6.4%
SCHB Schwab US Broad Market ETF 0.03% 12,000 $315K No change
FCX Freeport-McMoran Inc. 0.03% 6,095 $310K New
VZ Verizon Communications Inc. 0.03% 7,420 $302K Reduce -86.8%
INTC Intel Corp. 0.03% 8,120 $300K No change
PFF iShares Preferred & Income S 0.03% 9,646 $299K Add +9.7%
IP International Paper Co. 0.03% 7,500 $295K No change
IGRO iShares Intl Div Growth ETF 0.03% 3,516 $291K No change
ACN Accenture PLC Class A 0.03% 1,074 $288K Reduce -34.9%
XLB SS Materials Select Sector 0.03% 6,304 $286K No change
CSCO Cisco Systems Inc. 0.03% 3,651 $281K Reduce -1.0%
SCHA Schwab US Small-Cap ETF 0.03% 9,716 $277K Reduce -7.8%
GRPM Invesco S&P Midcap 400 Garp 0.03% 2,300 $276K No change
CMCSA Comcast Corp. Class A 0.03% 9,121 $273K Add +0.0%
KBE SS SPDR S&P Bank ETF 0.03% 4,463 $271K No change
XLK SS Technology Select Sector 0.03% 1,857 $267K No change
ARKF ARK Blockchain & Fintech Inn 0.03% 5,590 $266K Reduce -4.8%
AMGN Amgen Inc. 0.02% 797 $261K Reduce -19.3%
VIGI Vanguard Int Div App Indx FD 0.02% 2,850 $261K No change
BMY Bristol-Myers Squibb Co. 0.02% 4,830 $261K New
XLRE SS Real Estate Select Sector 0.02% 6,442 $260K No change
ROP Roper Technologies Inc. 0.02% 579 $258K No change
ADSK Autodesk Inc. 0.02% 870 $258K No change
SHEL Shell PLC-ADR 0.02% 3,504 $258K Reduce -15.8%
MELI MercadoLibre Inc. 0.02% 127 $256K Reduce -5.2%
CRWD CrowdStrike Holdings Inc. Class A 0.02% 540 $253K Add +2.5%
OEF iShares S&P 100 ETF 0.02% 734 $252K No change
BAM Brookfield Asset Mgmt-A 0.02% 4,800 $251K Add +4.3%
APAM Artisan Partners Asset Ma -A 0.02% 6,000 $244K No change
T AT&T Inc. 0.02% 9,839 $244K No change
EQT Eqt Corp. 0.02% 4,528 $243K Reduce -18.6%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.02% 5,653 $241K Reduce -39.2%
MCD McDonald's Corp. 0.02% 787 $241K Reduce -18.7%
CONL Granitesh 2X LNG Coin ETF-US 0.02% 16,220 $238K New
VST Vistra Corp. 0.02% 1,470 $237K Reduce -31.1%
TSLQ Tradr 2X Short Tsla Daily Et 0.02% 13,000 $236K New
SPYM Ste STR SPDR PT S&P 500 ETF 0.02% 2,929 $235K No change
WM Waste Management Inc. 0.02% 1,067 $234K New
UBER Uber Technologies Inc. 0.02% 2,846 $233K Add +4.1%
BP BP PLC-Spons ADR 0.02% 6,644 $231K Add +8.1%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.02% 1,273 $226K Add +0.6%
FNDE Schwab Fndmntl Em MRK Eq ETF 0.02% 6,245 $225K No change
IYG iShares U.S. Financial Servi 0.02% 2,379 $219K No change
COF Capital One Financial Corp. 0.02% 900 $218K New
NFLX Netflix Inc. 0.02% 2,295 $215K Reduce -11.1%
XME SS SPDR S&P Metals Mining 0.02% 2,070 $214K New
VIS Vanguard Industrials ETF 0.02% 717 $214K No change
SDY SS SPDR S&P Dividend ETF 0.02% 1,537 $214K No change
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.02% 2,900 $214K New
FTAI Ftai Aviation Ltd. 0.02% 1,075 $212K New
EW Edwards Lifesciences Corp. 0.02% 2,479 $211K New
DFIN Donnelley Financial Solution 0.02% 4,501 $210K No change
CTRA Coterra Energy Inc. 0.02% 7,933 $209K Reduce -16.1%
AGG iShares Core U.S. Aggregate 0.02% 2,076 $207K Reduce -61.7%
VMC Vulcan Materials Co. 0.02% 713 $203K No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.02% 4,488 $203K New
EMR Emerson Electric Co. 0.02% 1,516 $201K New
WFC Wells Fargo & Co. 0.02% 2,146 $200K New
CCLD Carecloud Inc. 0.02% 60,000 $175K No change
BTZ BlackRock Credit Allocation 0.01% 13,500 $146K No change
ALIT Alight Inc. Class A 0.00% 19,800 $39K No change
NDLS Noodles & Co. 0.00% 35,085 $25K No change
IMUX Immunic Inc. 0.00% 10,000 $5K No change

Options reported separately and not counted above: SPDR S&P 500 ETF puts ($25.8M).

Other holdings (2): bonds, preferreds, convertibles and warrants · $269K (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 212$269KNo change
PSEWF Paysafe Ltd. -CW26 *W EXP 03/30/202 33,333$7No change

Total filed on the 13F, all lines: $1.1B.

Portfolio Sells Q3 2025 → Q4 2025
ZWS Zurn Elkay Water Solutions C Reduce -4.5% 10.28% −0.69
ARLP Alliance Resource Partners Reduce -66.5% 0.21% −0.49
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -33.9% 0.64% −0.34
MPLX MPLX LP Reduce -65.7% 0.18% −0.32
ET Energy Transfer LP Reduce -46.7% 0.31% −0.30
EPD Enterprise Products Partners Reduce -59.5% 0.21% −0.30
SPY SS SPDR S&P 500 ETF Trust-US Reduce -9.5% 3.46% −0.30
NATL NCR Atleos Corp. Reduce -13.9% 1.41% −0.29
VZ Verizon Communications Inc. Reduce -86.8% 0.03% −0.21
ARKW ARK Next Generation Technolo Reduce -10.2% 0.47% −0.15
VYX NCR Voyix Corp. Reduce -0.8% 0.60% −0.15
FIS Fidelity National Info Serv Reduce -11.2% 0.95% −0.12
XLE SS Energy Select Sector Reduce -10.2% 0.86% −0.10
ITOT iShares Core S&P Total U.S. Reduce -7.4% 1.19% −0.08
CARR Carrier Global Corp. Reduce -0.0% 0.53% −0.07
MSFT Microsoft Corp. Reduce -1.5% 0.59% −0.06
JPM JPMorgan Chase & Co. Reduce -18.4% 0.23% −0.05
PFE Pfizer Inc. Sold out 0.00% −0.05
CARY Angel Oak Income ETF Reduce -3.1% 1.05% −0.04
PAA Plains All Amer Pipeline LP Reduce -20.9% 0.19% −0.04
ARKK ARK Innovation ETF Reduce -0.9% 0.25% −0.03
META Meta Platforms Inc. Class A Reduce -25.0% 0.07% −0.03
IBIT iShares Bitcoin Trust ETF Sold out 0.00% −0.03
AGG iShares Core U.S. Aggregate Reduce -61.7% 0.02% −0.03
IWF iShares Russell 1000 Growth Reduce -2.0% 1.85% −0.03
BMNR Bitmine Immersion Technologi Sold out 0.00% −0.03
GE General Electric Reduce -39.4% 0.05% −0.03
LNG Cheniere Energy Inc. Sold out 0.00% −0.03
CRM Salesforce Inc. Sold out 0.00% −0.03
AAPL Apple Inc. Reduce -7.0% 1.89% −0.03
TRGP Targa Resources Corp. Sold out 0.00% −0.03
OKLO Oklo Inc. Sold out 0.00% −0.03
IWO iShares Russell 2000 Growth Reduce -6.2% 0.41% −0.03
IJR iShares Core S&P Small-Cap E Reduce -1.7% 1.97% −0.03
COIN Coinbase Global Inc. Class A Sold out 0.00% −0.03
BE Bloom Energy Corp. Class A Sold out 0.00% −0.02
PG The Procter & Gamble Co. Reduce -5.2% 0.17% −0.02
IGM iShares Expanded Tech Sector Reduce -15.3% 0.15% −0.02
BX Blackstone Inc. Reduce -1.7% 0.17% −0.02
IBDR iShares Ibonds Dec 2026 Term Reduce -15.8% 0.11% −0.02
EOG EOG Resources Inc. Sold out 0.00% −0.02
SPYD SS SPDR P S&P 500 Hi Div ETF Reduce -1.2% 0.57% −0.02
SILJ Amplify Junior Silver Miners Sold out 0.00% −0.02
CIBR First Trust Nasdaq Cybersecu Reduce -1.8% 0.22% −0.02
GDXJ Vaneck Junior Gold Miners Sold out 0.00% −0.02
ETN Eaton Corp. PLC Reduce -9.2% 0.07% −0.02
AA Alcoa Corp. Sold out 0.00% −0.02
IDXX Idexx Laboratories Inc. Sold out 0.00% −0.02
SUN Sunoco LP Sold out 0.00% −0.02
HON Honeywell International Inc. Sold out 0.00% −0.02

Portfolio Buys Q3 2025 → Q4 2025
SGOV iShares 0-3 Month Treasury B Add +49.8% 1.96% +0.64
FISV Fiserv Inc. New 0.51% +0.51
SIL Global X Silver Miners ETF Add +283.1% 0.39% +0.30
SLV iShares Silver Trust Add +101.8% 0.38% +0.26
HEFA Isha Curr Hedged MSCI Eafe Add +28.5% 0.80% +0.20
GDX Vaneck Gold Miners ETF Add +59.9% 0.40% +0.18
SHV iShares 0-1 Year Treasury Bo Add +10.5% 2.06% +0.18
UYLD Angel Oak Ultrashort Income Add +12.1% 1.70% +0.17
PAAS Pan American Silver Corp. Add +64.7% 0.31% +0.17
GLD SPDR Gold Shares Add +25.3% 0.59% +0.17
FNF Fidelity National Financial Add +21.0% 1.92% +0.15
AEM Agnico Eagle Mines Ltd. Add +150.1% 0.22% +0.13
ALKT Alkami Technology Inc. New 0.11% +0.11
GSL Global Ship Lease Inc. Class A Add +12.5% 0.50% +0.11
IR Ingersoll-Rand Inc. New 0.10% +0.10
FG F&G Annuities & Life Inc. Add +87.2% 0.19% +0.09
NEM Newmont Corp. Add +29.9% 0.24% +0.08
IAU iShares Gold Trust Add +1.1% 0.74% +0.08
VOO Vanguard S&P 500 ETF Add +0.2% 4.98% +0.08
FBTC Fidelity Wise Origin Bitcoin Add +465.4% 0.09% +0.07
IJH iShares Core S&P Midcap ETF Add +3.1% 1.94% +0.07
EMXC iShares MSCI Emr MRK Ex Chna Add +11.2% 0.42% +0.07
ASB Associated Banc-Corp. Add +23.4% 0.35% +0.06
IEFA iShares Core MSCI Eafe ETF Add +1.9% 1.77% +0.06
CDE Coeur Mining Inc. New 0.06% +0.06
XLV SS Health Care Select Sector Add +234.9% 0.07% +0.05
MU Micron Technology Inc. Add +10.8% 0.11% +0.05
GNR State Street SPDR S&P Global Add +13.4% 0.33% +0.05
JEPI JPMorgan Equity Premium Inco Add +163.6% 0.08% +0.05
WPM Wheaton Precious Metals Corp. New 0.05% +0.05
XLI SS Industrial Select Sector Add +11.3% 0.49% +0.05
NRG NRG Energy Inc. New 0.05% +0.05
BXSL Blackstone Secured Lending F New 0.05% +0.05
VTI VG Morningstar TS MKT ETF-US Add +0.5% 2.79% +0.05
FNV Franco-Nevada Corp. New 0.05% +0.05
DFAI Dimensional International Co. Add +67.7% 0.11% +0.05
IEMG iShares Core MSCI Emerging Add +0.8% 2.27% +0.04
VHT Vanguard Health Care ETF New 0.04% +0.04
IDV iShares International Select Add +4.4% 0.35% +0.04
EUSA iShares MSCI USA Equal Weigh Add +60.5% 0.09% +0.03
AMD Advanced Micro Devices Add +5.6% 0.11% +0.03
VYM Vanguard High DVD Yield ETF Add +1.9% 1.10% +0.03
TGT Target Corp. New 0.03% +0.03
FCX Freeport-McMoran Inc. New 0.03% +0.03
BANC Banc of California Inc. Add +0.6% 0.19% +0.03
BMY Bristol-Myers Squibb Co. New 0.02% +0.02
RIO Rio Tinto PLC-Spon ADR Add +88.9% 0.04% +0.02
IEF iShares 7-10 Year Treasury B Add +19.4% 0.15% +0.02
CONL Granitesh 2X LNG Coin ETF-US New 0.02% +0.02
TSLQ Tradr 2X Short Tsla Daily Et New 0.02% +0.02

Options Activity Q3 2025 → Q4 2025
SPDR S&P 500 ETF put New 43,900 $25.8M
STATE STR SPDR S&P 500 ETF T put Sold out 16,900 $9.5Mbefore exit
SPDR SERIES TRUST call Sold out 2,000 $200Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 296$1.2BZWS, IVV, VOO, SPY, VTI
Q1 2026 299$1.0BIVV, ZWS, VOO, SPY, VTI
Q4 2025 294$1.1BZWS, IVV, VOO, SPY, VTI
Q3 2025 289$1.0BZWS, IVV, VOO, SPY, VTI
Q2 2025 285$1.0BZWS, IVV, DNB, VOO, SPY
Q1 2025 261$959.5MZWS, DNB, IVV, VOO, SPY
Q4 2024 275$1.0BZWS, DNB, IVV, VOO, SPY
Q3 2024 274$980.0MZWS, DNB, IVV, VOO, SPY
Q2 2024 274$912.5MZWS, IVV, DNB, VOO, SPY
Q1 2024 298$958.9MZWS, DNB, IVV, FIS, VYX