Ground Swell Capital, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), Ground Swell Capital, LLC reported 137 stock positions worth $60.6 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 53.2% of the portfolio, followed by iShares Russell 2000 ETF (IWM, 11.0%) and iShares Russell 1000 ETF (IWB, 1.6%). Compared with Q1 2025, it opened 127 new positions, sold out of 139, added to 5 and reduced 5. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale an exit from iShares 20+ Year Treasury BD (TLT).
- Most Recent 13F
- Q2 2026
- Location
- FOLLY BEACH, SC
- CIK
- 0001534450
- Portfolio Value
- $60.6M (Q2 2025)
- SEC Filing
- 0001420506-25-001632 ↗ filed Jul 31, 2025
Holdings Value
Holdings 137 stocks · $60.6M
| SPY SS SPDR S&P 500 ETF Trust-US | 53.21% | 52,166 | $32.2M | New |
| IWM iShares Russell 2000 ETF | 10.98% | 30,823 | $6.7M | New |
| IWB iShares Russell 1000 ETF | 1.59% | 2,842 | $965K | New |
| KRE SS SPDR S&P Regional Bank | 1.49% | 15,239 | $905K | New |
| IXJ iShares Global Healthcare Et | 1.12% | 7,867 | $677K | New |
| WTW Willis Towers Watson PLC | 1.11% | 2,201 | $675K | New |
| KOKU Xtrackers MSCI Kokusai Eqty | 1.08% | 5,956 | $653K | Reduce -48.0% |
| TMUS T-Mobile US Inc. | 1.05% | 2,669 | $636K | New |
| SCHP Schwab U.S. Tips ETF | 1.04% | 23,665 | $631K | New |
| CGCP Cap Group Core Plus Income | 0.98% | 26,425 | $595K | New |
| IOO iShares Global 100 ETF | 0.98% | 5,496 | $593K | Add +9.3% |
| IAU iShares Gold Trust | 0.95% | 9,227 | $575K | New |
| CRWV Coreweave Inc. Class A | 0.94% | 3,503 | $571K | New |
| ZBRA Zebra Technologies Corp. Class A | 0.88% | 1,737 | $536K | Add +128.3% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.85% | 12,074 | $514K | New |
| ISRG Intuitive Surgical Inc. | 0.75% | 834 | $453K | New |
| TIP iShares Tips Bond ETF | 0.66% | 3,605 | $397K | New |
| MSCI MSCI Inc. | 0.64% | 670 | $386K | New |
| ETSY Etsy Inc. | 0.63% | 7,632 | $383K | New |
| HON Honeywell International Inc. | 0.60% | 1,567 | $365K | New |
| ZS Zscaler Inc. | 0.58% | 1,117 | $351K | New |
| PWR Quanta Services Inc. | 0.54% | 858 | $324K | Reduce -55.0% |
| HIG Hartford Insurance Group Inc. | 0.53% | 2,552 | $324K | New |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.53% | 3,395 | $324K | New |
| HSY The Hershey Co. | 0.51% | 1,854 | $308K | New |
| IQLT iShares MSCI International Q | 0.49% | 6,855 | $296K | New |
| NVR NVR Inc. | 0.49% | 40 | $295K | New |
| BJRI Bj's Restaurants Inc. | 0.48% | 6,486 | $289K | New |
| FLG Flagstar Bank NA | 0.46% | 26,042 | $276K | New |
| TOL Toll Brothers Inc. | 0.45% | 2,401 | $274K | New |
| SE Sea Ltd.-ADR | 0.44% | 1,679 | $269K | New |
| ATO Atmos Energy Corp. | 0.43% | 1,704 | $263K | New |
| TKR Timken Co. | 0.43% | 3,594 | $261K | New |
| AMD Advanced Micro Devices | 0.43% | 1,829 | $260K | Reduce -59.9% |
| MAR Marriott International Class A | 0.42% | 941 | $257K | New |
| VRSK Verisk Analytics Inc. | 0.42% | 825 | $257K | New |
| AME Ametek Inc. | 0.42% | 1,391 | $252K | New |
| ITT Itt Inc. | 0.41% | 1,588 | $249K | New |
| PBH Prestige Consumer Healthcare | 0.39% | 2,993 | $239K | New |
| GLTR Abrdn Precious Metals Basket | 0.39% | 1,712 | $237K | New |
| SSNC Ss&c Technologies Holdings | 0.38% | 2,804 | $232K | New |
| PEGA Pegasystems Inc. | 0.38% | 4,263 | $231K | New |
| DB Deutsche Bank AG-Registered | 0.37% | 7,677 | $225K | New |
| ARW Arrow Electronics Inc. | 0.37% | 1,752 | $223K | New |
| EWBC East West Bancorp Inc. | 0.36% | 2,172 | $219K | New |
| SDGR Schrodinger Inc. | 0.36% | 10,889 | $219K | New |
| AN Autonation Inc. | 0.36% | 1,099 | $218K | New |
| LMT Lockheed Martin Corp. | 0.36% | 466 | $216K | New |
| CHE Chemed Corp. | 0.35% | 435 | $212K | New |
| BABA Alibaba Group Holding-SP ADR | 0.34% | 1,832 | $208K | New |
| JNPR Juniper Networks Inc. | 0.34% | 5,184 | $207K | New |
| TW Tradeweb Markets Inc. Class A | 0.34% | 1,404 | $206K | New |
| RH RH | 0.34% | 1,083 | $205K | New |
| SAP Sap SE-Sponsored ADR | 0.34% | 672 | $204K | New |
| DTE DTE Energy Company | 0.33% | 1,521 | $201K | New |
| PCG P G & E Corp. | 0.26% | 11,127 | $155K | New |
| INFU Infusystem Holdings Inc. | 0.22% | 21,693 | $135K | New |
| URG Ur-Energy Inc. | 0.18% | 102,930 | $108K | New |
| LCTX Lineage Cell Therapeutics Inc. | 0.16% | 104,511 | $95K | New |
| GRAB Grab Holdings Ltd. Class A | 0.13% | 15,397 | $77K | New |
| WOLF Wolfspeed Inc. | 0.12% | 185,176 | $74K | New |
| TROX Tronox Holdings PLC | 0.12% | 13,849 | $70K | New |
| BB Blackberry Ltd. | 0.11% | 15,050 | $69K | New |
| KOS Kosmos Energy Ltd. | 0.10% | 36,280 | $62K | New |
| ATER Aterian Inc. | 0.10% | 34,780 | $58K | New |
| CATX Perspective Therapeutics Inc. | 0.09% | 16,373 | $56K | New |
| TLYS Tilly's Inc. Class A SHRS | 0.09% | 40,804 | $56K | New |
| AMPY Amplify Energy Corp. | 0.09% | 16,942 | $54K | New |
| ILPT Industrial Logistics Propert | 0.09% | 11,852 | $54K | New |
| GETY Getty Images Holdings Inc. | 0.08% | 28,436 | $47K | New |
| ASSET ENTITIES INC | 0.07% | 10,734 | $40K | New |
| GPMT Granite Point Mortgage Trust | 0.07% | 16,052 | $40K | New |
| ORGO Organogenesis Holdings Inc. | 0.06% | 10,599 | $39K | New |
| ARTV Artiva Biotherapeutics Inc. | 0.06% | 24,849 | $38K | New |
| UHG United Homes Group Inc. | 0.05% | 10,960 | $32K | New |
| ELDN Eledon Pharmaceuticals Inc. | 0.05% | 11,597 | $31K | New |
| TE T1 Energy Inc. | 0.05% | 25,534 | $31K | New |
| FLNA Filana Therapeutics Inc. filed as CASSAVA SCIENCES INC | 0.05% | 16,985 | $31K | New |
| VERI Veritone Inc. | 0.05% | 21,750 | $27K | New |
| ANRO Alto Neuroscience Inc. | 0.05% | 12,447 | $27K | New |
| CHGG Chegg Inc. | 0.05% | 22,577 | $27K | New |
| NRGV Energy Vault Holdings Inc. | 0.04% | 36,541 | $26K | New |
| RDZN Roadzen Inc. | 0.04% | 26,104 | $26K | New |
| DUO Fangdd Network Group Ltd. Class A | 0.04% | 11,826 | $25K | New |
| UP Wheels Up Experience Inc. | 0.04% | 22,502 | $24K | New |
| ABAT American Battery Technology | 0.04% | 14,717 | $24K | New |
| OTLK Outlook Therapeutics Inc. | 0.04% | 14,860 | $24K | New |
| CBUS Cibus Inc. | 0.04% | 16,642 | $23K | New |
| VRA Vera Bradley Inc. | 0.04% | 10,212 | $23K | New |
| ONL Orion Properties Inc. | 0.04% | 10,506 | $22K | New |
| FTHM Fathom Holdings Inc. | 0.04% | 17,460 | $22K | New |
| CBL INTL LTD | 0.04% | 23,256 | $21K | New |
| CRBU Caribou Biosciences Inc. | 0.03% | 16,306 | $21K | New |
| CDLX Cardlytics Inc. | 0.03% | 12,105 | $20K | New |
| QSI Quantum-Si Inc. | 0.03% | 10,100 | $20K | New |
| DEVVSTREAM CORP | 0.03% | 53,702 | $19K | New |
| LWLG Lightwave Logic Inc. | 0.03% | 15,038 | $19K | New |
| INHD Inno Holdings Inc. | 0.03% | 13,298 | $18K | New |
| MGX Metagenomi Therapeutics Inc. | 0.03% | 12,198 | $18K | New |
| SES Ses AI Corp. | 0.03% | 20,006 | $18K | New |
| REKR Rekor Systems Inc. | 0.03% | 14,804 | $17K | New |
| JIANZHI ED TECHNOLOGY GROUP | 0.03% | 10,277 | $17K | New |
| FXHO Utime Ltd. Class A | 0.03% | 17,801 | $17K | New |
| ATOS Atossa Therapeutics Inc. | 0.03% | 19,990 | $17K | New |
| TPICQ Tpi Composites Inc. | 0.03% | 19,145 | $16K | Add +31.1% |
| MYND Mynd.ai Inc. | 0.03% | 17,934 | $16K | Add +0.6% |
| CPTAF Captivision Inc. | 0.03% | 13,466 | $15K | Add +2.5% |
| NINEQ Nine Energy Service Inc. | 0.02% | 19,210 | $15K | New |
| NAUT Nautilus Biotechnology Inc. | 0.02% | 20,061 | $15K | New |
| ATPC Agape Atp Corp. | 0.02% | 11,013 | $15K | New |
| ACRV Acrivon Therapeutics Inc. | 0.02% | 12,215 | $15K | New |
| ZURA Zura Bio Ltd. | 0.02% | 13,308 | $14K | New |
| EAF Graftech International Ltd. | 0.02% | 14,200 | $14K | New |
| PLRX Pliant Therapeutics Inc. | 0.02% | 11,874 | $14K | New |
| IGMS Igm Biosciences Inc. | 0.02% | 11,833 | $13K | New |
| PRPL Purple Innovation Inc. | 0.02% | 18,120 | $13K | New |
| FEMY Femasys Inc. | 0.02% | 13,204 | $13K | New |
| EONR Eon Resources Inc. | 0.02% | 34,986 | $12K | New |
| LVO Liveone Inc. | 0.02% | 15,327 | $12K | New |
| SGN Signing Day Sports Inc. | 0.02% | 11,084 | $12K | New |
| GRWG Growgeneration Corp. | 0.02% | 11,439 | $11K | New |
| NMRA Neumora Therapeutics Inc. | 0.02% | 12,790 | $9K | New |
| ENZB Enzo Biochem Inc. | 0.02% | 13,761 | $9K | New |
| RLMD Relmada Therapeutics Inc. | 0.02% | 15,320 | $9K | New |
| STRO Sutro Biopharma Inc. Com SHS | 0.01% | 12,683 | $9K | New |
| ASSERTIO HOLDINGS INC | 0.01% | 12,685 | $8K | New |
| CHPT Chargepoint Holdings Inc. | 0.01% | 11,469 | $8K | New |
| MACKENZIE RLTY CAP INC | 0.01% | 11,904 | $8K | New |
| MTVA Metavia Inc. | 0.01% | 10,495 | $7K | New |
| CATHETER PRECISION INC | 0.01% | 27,565 | $7K | New |
| IPSC Century Therapeutics Inc. | 0.01% | 10,176 | $6K | New |
| EQ Equillium Inc. | 0.01% | 16,550 | $5K | New |
| DRAGONFLY ENERGY HOLDINGS CO | 0.01% | 27,186 | $4K | New |
| CNSY Plus Therapeutics Inc. | 0.01% | 11,453 | $4K | Reduce -16.1% |
| CLEAN ENERGY TECHNOLOGIES IN | 0.01% | 12,638 | $3K | New |
| PHOENIX MTR INC | 0.00% | 10,737 | $2K | Reduce -79.2% |
| SCPX Scorpius Holdings Inc. | 0.00% | 12,966 | $609 | New |
Options reported separately and not counted above: CRCL puts ($1.8M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $590K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 5,665 | $300K | New |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 7,546 | $284K | New |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | 11,380 | $6K | New |
Total filed on the 13F, all lines: $61.2M.
Portfolio Sells Q1 2025 → Q2 2025
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −3.88 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −3.76 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −3.28 |
| NXPI NXP Semiconductors NV | Sold out | 0.00% | −3.13 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −2.37 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −1.98 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −1.90 |
| SPYV SS SPDR P S&P 500 Value ETF | Sold out | 0.00% | −1.67 |
| IWN iShares Russell 2000 Value E | Sold out | 0.00% | −1.62 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −1.61 |
| KOKU Xtrackers MSCI Kokusai Eqty | Reduce -48.0% | 1.08% | −1.58 |
| NVDA Nvidia Corp. | Sold out | 0.00% | −1.46 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Sold out | 0.00% | −1.40 |
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −1.40 |
| INTC Intel Corp. | Sold out | 0.00% | −1.39 |
| IJS iShares S&P Small-Cap 600 Va | Sold out | 0.00% | −1.20 |
| ON On Semiconductor | Sold out | 0.00% | −1.18 |
| VEA Vanguard Ftse Developed ETF | Sold out | 0.00% | −1.15 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −1.09 |
| COO The Cooper Cos Inc. | Sold out | 0.00% | −1.06 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −1.04 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −1.03 |
| CORP PIMCO Inv Grade Corp. BD ETF | Sold out | 0.00% | −1.01 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.99 |
| PCAR Paccar Inc. | Sold out | 0.00% | −0.95 |
| XYZ Block Inc. | Sold out | 0.00% | −0.94 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.93 |
| MDLZ Mondelez International Inc. Class A | Sold out | 0.00% | −0.92 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.90 |
| GHC Graham Holdings Co. Class B | Sold out | 0.00% | −0.88 |
| MKTX Marketaxess Holdings Inc. | Sold out | 0.00% | −0.85 |
| FIX Comfort Systems USA Inc. | Sold out | 0.00% | −0.85 |
| KEYS Keysight Technologies Inc. | Sold out | 0.00% | −0.85 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.85 |
| AZO AutoZone Inc. | Sold out | 0.00% | −0.82 |
| SMLF iShares US Smallcap Equity F | Sold out | 0.00% | −0.80 |
| DGX Quest Diagnostics Inc. | Sold out | 0.00% | −0.80 |
| XSW SS SPDR S&P Soft & Serv ETF | Sold out | 0.00% | −0.80 |
| CASY Casey's General Stores Inc. | Sold out | 0.00% | −0.79 |
| ENTG Entegris Inc. | Sold out | 0.00% | −0.78 |
| DOCU Docusign Inc. | Sold out | 0.00% | −0.76 |
| BRK.B Berkshire Hathaway Inc. Class B | Sold out | 0.00% | −0.76 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.74 |
| DIA SS SPDR Dow Jones Indus Avg | Sold out | 0.00% | −0.73 |
| ZION Zions Bancorp NA | Sold out | 0.00% | −0.73 |
| HES Hess Corp. | Sold out | 0.00% | −0.71 |
| AWK American Water Works Co. Inc. | Sold out | 0.00% | −0.71 |
| FERG Ferguson Enterprises Inc. | Sold out | 0.00% | −0.70 |
| QFIN Qfin Holdings Inc.-ADR | Sold out | 0.00% | −0.69 |
| DOW Dow Inc. | Sold out | 0.00% | −0.69 |
Portfolio Buys Q1 2025 → Q2 2025
| SPY SS SPDR S&P 500 ETF Trust-US | New | 53.21% | +53.21 |
| IWM iShares Russell 2000 ETF | New | 10.98% | +10.98 |
| IWB iShares Russell 1000 ETF | New | 1.59% | +1.59 |
| KRE SS SPDR S&P Regional Bank | New | 1.49% | +1.49 |
| IXJ iShares Global Healthcare Et | New | 1.12% | +1.12 |
| WTW Willis Towers Watson PLC | New | 1.11% | +1.11 |
| TMUS T-Mobile US Inc. | New | 1.05% | +1.05 |
| SCHP Schwab U.S. Tips ETF | New | 1.04% | +1.04 |
| CGCP Cap Group Core Plus Income | New | 0.98% | +0.98 |
| IAU iShares Gold Trust | New | 0.95% | +0.95 |
| CRWV Coreweave Inc. Class A | New | 0.94% | +0.94 |
| SPSM SS SPDR P S&P 600 Small Cap | New | 0.85% | +0.85 |
| ISRG Intuitive Surgical Inc. | New | 0.75% | +0.75 |
| TIP iShares Tips Bond ETF | New | 0.66% | +0.66 |
| MSCI MSCI Inc. | New | 0.64% | +0.64 |
| ETSY Etsy Inc. | New | 0.63% | +0.63 |
| HON Honeywell International Inc. | New | 0.60% | +0.60 |
| ZS Zscaler Inc. | New | 0.58% | +0.58 |
| HIG Hartford Insurance Group Inc. | New | 0.53% | +0.53 |
| SPYG SS SPDR P S&P 500 Growth ETF | New | 0.53% | +0.53 |
| HSY The Hershey Co. | New | 0.51% | +0.51 |
| IQLT iShares MSCI International Q | New | 0.49% | +0.49 |
| NVR NVR Inc. | New | 0.49% | +0.49 |
| BJRI Bj's Restaurants Inc. | New | 0.48% | +0.48 |
| FLG Flagstar Bank NA | New | 0.46% | +0.46 |
| TOL Toll Brothers Inc. | New | 0.45% | +0.45 |
| SE Sea Ltd.-ADR | New | 0.44% | +0.44 |
| ATO Atmos Energy Corp. | New | 0.43% | +0.43 |
| TKR Timken Co. | New | 0.43% | +0.43 |
| MAR Marriott International Class A | New | 0.42% | +0.42 |
| VRSK Verisk Analytics Inc. | New | 0.42% | +0.42 |
| AME Ametek Inc. | New | 0.42% | +0.42 |
| ITT Itt Inc. | New | 0.41% | +0.41 |
| PBH Prestige Consumer Healthcare | New | 0.39% | +0.39 |
| GLTR Abrdn Precious Metals Basket | New | 0.39% | +0.39 |
| SSNC Ss&c Technologies Holdings | New | 0.38% | +0.38 |
| PEGA Pegasystems Inc. | New | 0.38% | +0.38 |
| ZBRA Zebra Technologies Corp. Class A | Add +128.3% | 0.88% | +0.38 |
| DB Deutsche Bank AG-Registered | New | 0.37% | +0.37 |
| ARW Arrow Electronics Inc. | New | 0.37% | +0.37 |
| EWBC East West Bancorp Inc. | New | 0.36% | +0.36 |
| SDGR Schrodinger Inc. | New | 0.36% | +0.36 |
| AN Autonation Inc. | New | 0.36% | +0.36 |
| LMT Lockheed Martin Corp. | New | 0.36% | +0.36 |
| CHE Chemed Corp. | New | 0.35% | +0.35 |
| BABA Alibaba Group Holding-SP ADR | New | 0.34% | +0.34 |
| JNPR Juniper Networks Inc. | New | 0.34% | +0.34 |
| TW Tradeweb Markets Inc. Class A | New | 0.34% | +0.34 |
| RH RH | New | 0.34% | +0.34 |
| SAP Sap SE-Sponsored ADR | New | 0.34% | +0.34 |
Options Activity Q1 2025 → Q2 2025
| TSLA Tesla Inc. | put | Sold out | 10,000 | $2.6Mbefore exit |
| CRCL Circle Internet Group Inc. | put | New | 10,000 | $1.8M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Sold out | 9,678 | $463Kbefore exit |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Sold out | 9,778 | $349Kbefore exit |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Sold out | 8,132 | $330Kbefore exit |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | New | 5,665 | $300K |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | New | 7,546 | $284K |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Sold out | 2,931 | $214Kbefore exit |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | New | 11,380 | $6K |
| HYMCW Hycroft Mining Holding | *W EXP 05/29/202 | Sold out | 112,516 | $304before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 135 | $91.3M | IVV, SPCX, IWM, ASML, CBRS |
| Q1 2026 | 108 | $48.3M | VOO, QQQ, PPH, NVDA, AAPL |
| Q4 2025 | 83 | $48.5M | QQQ, PNFP, NXPI, TLT, TSLA |
| Q3 2025 | 126 | $45.5M | RSP, IWB, EFA, STIP, MSFT |
| Q2 2025 | 137 | $60.6M | SPY, IWM, IWB, KRE, IXJ |
| Q1 2025 | 149 | $42.5M | TLT, MCHP, COIN, NXPI, KOKU |
| Q4 2024 | 140 | $45.9M | TLT, IWN, SPY, ADP, XOP |
| Q3 2024 | 142 | $70.0M | TLT, MSFT, AAPL, SPGI, SBUX |
| Q2 2024 | 168 | $103.4M | IWM, TLT, SPY, COST, ICLR |
| Q1 2024 | 68 | $95.4M | TLT, SPY, IWM, XBI, EDV |