Interchange Capital Partners, LLC

Name: Interchange Capital Partners, LLC 13F holdings, Q2 2025
Creator: Interchange Capital Partners, LLC
Published: 2025-07-31

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), Interchange Capital Partners, LLC reported 280 stock positions worth $432.9 million. Its top holding was Semler Scientific (SMLR) at 11.5% of the portfolio, followed by JPM Ultra-Short Muni Income (JMST, 8.2%) and Janus Henderson Aaa Clo ETF (JAAA, 3.9%). Compared with Q1 2025, it opened 22 new positions, sold out of 11, added to 135 and reduced 109. The biggest buy was JPM Ultra-Short Muni Income (JMST, shares +185%) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F: Q2 2026
Location: PITTSBURGH, PA
CIK: 0001845998
Portfolio Value: $432.9M (Q2 2025)
SEC Filing: 0001085146-25-004372 ↗ filed Jul 31, 2025

Holdings Value

Holdings 280 stocks · $432.9M


SMLR Semler Scientific Inc.	11.50%	1,284,575	$49.8M	No change
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F	8.17%	694,420	$35.4M	Add +185.1%
JAAA Janus Henderson Aaa Clo ETF	3.88%	331,350	$16.8M	New
AAPL Apple Inc.	3.78%	79,881	$16.4M	Reduce -0.7%
IQLT iShares MSCI International Q	3.14%	314,522	$13.6M	Add +5.0%
MSFT Microsoft Corp.	3.03%	26,399	$13.1M	Add +0.6%
VTV Vanguard Mrngstr Val ETF-Aui	1.94%	47,576	$8.4M	Reduce -1.3%
IEFA iShares Core MSCI Eafe ETF	1.88%	97,238	$8.1M	Reduce -6.1%
JPST JPMorgan Ultra-Short Income	1.85%	157,643	$8.0M	Add +31.4%
IEMG iShares Core MSCI Emerging	1.49%	107,893	$6.5M	Add +19.8%
VEA Vanguard Ftse Developed ETF	1.46%	110,657	$6.3M	Add +1.1%
IVV iShares Core S&P 500 ETF	1.44%	10,039	$6.2M	Reduce -29.3%
NVDA Nvidia Corp.	1.40%	38,348	$6.1M	Add +5.1%
AMZN Amazon.com Inc.	1.24%	24,472	$5.4M	Reduce -1.0%
META Meta Platforms Inc. Class A	1.16%	6,790	$5.0M	Add +0.8%
MDCX Medicus Pharma Ltd.	1.10%	1,586,871	$4.7M	Reduce -4.5%
QUAL iShares MSCI USA Quality Fac	1.07%	25,431	$4.6M	Add +6.1%
VLUE iShares MSCI USA Value Facto	1.01%	38,647	$4.4M	Add +0.7%
IAU iShares Gold Trust	0.97%	67,036	$4.2M	Reduce -3.7%
JPM JPMorgan Chase & Co.	0.96%	14,299	$4.1M	Add +2.5%
TSLA Tesla Inc.	0.86%	11,694	$3.7M	Reduce -2.7%
JEPI JPMorgan Equity Premium Inco	0.82%	62,817	$3.6M	Add +0.6%
GOOGL Alphabet Inc. Class A	0.81%	19,849	$3.5M	Add +1.7%
IVW iShares S&P 500 Growth ETF	0.73%	28,724	$3.2M	Reduce -6.3%
EFV iShares MSCI Eafe Value ETF	0.72%	49,124	$3.1M	Add +61.8%
GBTC Grayscale Bitcoin Trust ETF	0.70%	35,680	$3.0M	Reduce -4.8%
GOOG Alphabet Inc. Class C	0.66%	16,184	$2.9M	Reduce -0.9%
HD Home Depot Inc.	0.65%	7,690	$2.8M	Add +0.4%
ABBV Abbvie Inc.	0.63%	14,775	$2.7M	Add +0.5%
DYNF Ishrs US E F R A ETF-Usd Inc.	0.61%	48,906	$2.7M	Add +2.4%
VYMI Vanguard Int High DVD YLD Inc.	0.59%	31,749	$2.5M	Add +1.6%
IVE iShares S&P 500 Value ETF	0.59%	13,015	$2.5M	Add +18.4%
AVGO Broadcom Inc.	0.56%	8,775	$2.4M	Add +5.1%
DFIV Dimensional International Va	0.53%	53,623	$2.3M	No change
V Visa Inc. Class A	0.53%	6,413	$2.3M	Add +0.5%
BRK.B Berkshire Hathaway Inc. Class B	0.50%	4,459	$2.2M	Add +7.4%
EZU iShares MSCI Eurozone ETF	0.50%	36,428	$2.2M	Add +0.4%
ABT Abbott Laboratories	0.49%	15,742	$2.1M	Add +3.0%
JHMM John Hancock Multi Fact Mid	0.49%	34,617	$2.1M	Add +16.1%
BBJP JPMorgan Betabuilders Japan	0.49%	34,142	$2.1M	Add +1.1%
UNH Unitedhealth Group Inc.	0.48%	6,611	$2.1M	Add +49.5%
CRWD CrowdStrike Holdings Inc. Class A	0.47%	3,985	$2.0M	Add +1.8%
SPY SS SPDR S&P 500 ETF Trust-US	0.45%	3,134	$1.9M	Reduce -2.1%
MPC Marathon Petroleum Corp.	0.44%	11,544	$1.9M	Reduce -3.9%
FBND Fidelity Total Bond ETF	0.43%	40,842	$1.9M	Add +2.3%
AXP American Express Co.	0.42%	5,654	$1.8M	Add +2.0%
MS Morgan Stanley	0.41%	12,752	$1.8M	Add +1.4%
PULS Pgim Ultra Short Bond ETF	0.41%	35,819	$1.8M	Reduce -16.5%
VTI VG Morningstar TS MKT ETF-US	0.41%	5,793	$1.8M	Reduce -13.0%
RTX RTX Corp.	0.41%	12,017	$1.8M	Reduce -1.9%
MA Mastercard Inc. Class A	0.40%	3,072	$1.7M	Add +1.3%
IJR iShares Core S&P Small-Cap E	0.37%	14,757	$1.6M	Add +3.0%
ORCL Oracle Corp.	0.37%	7,369	$1.6M	Add +3.0%
DGRW Wisdomtree U.S. Quality Divi	0.35%	18,263	$1.5M	Reduce -0.9%
IYW iShares Ustechnology ETF	0.35%	8,670	$1.5M	Reduce -12.4%
NFLX Netflix Inc.	0.34%	1,108	$1.5M	Add +3.5%
VO Vngrd Mrngstr MD-Cap ETF-Usd	0.34%	5,301	$1.5M	Reduce -3.7%
TSM Taiwan Semiconductor-SP ADR	0.34%	6,502	$1.5M	Reduce -0.2%
FICO Fair Isaac Corp.	0.34%	801	$1.5M	No change
SHOP Shopify Inc. Class A	0.34%	12,642	$1.5M	Reduce -4.0%
BRK.A Berkshire Hathaway Inc. Class A	0.34%	2	$1.5M	No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.34%	4,921	$1.5M	Add +2.0%
HCA HCA Healthcare Inc.	0.33%	3,784	$1.4M	Add +6.0%
GLD SPDR Gold Shares	0.33%	4,703	$1.4M	No change
SBUX Starbucks Corp.	0.33%	15,597	$1.4M	Reduce -2.3%
SPYG SS SPDR P S&P 500 Growth ETF	0.32%	14,685	$1.4M	Reduce -1.7%
EQT Eqt Corp.	0.30%	22,626	$1.3M	Add +0.1%
PEP Pepsico Inc.	0.30%	9,967	$1.3M	Reduce -9.6%
NEE Nextera Energy Inc.	0.29%	18,484	$1.3M	Add +3.7%
CRM Salesforce Inc.	0.29%	4,603	$1.3M	Add +4.2%
EFG iShares MSCI Eafe Growth ETF	0.29%	11,202	$1.3M	Add +1.3%
IWF iShares Russell 1000 Growth	0.28%	2,858	$1.2M	Reduce -0.1%
ANET Arista Networks Inc.	0.28%	11,746	$1.2M	Add +5.0%
OEF iShares S&P 100 ETF	0.27%	3,878	$1.2M	Add +53.6%
VWO Vanguard Ftse Emerging Marke	0.27%	23,198	$1.1M	Reduce -4.9%
THRO iShares U.S. Thematic Rotati	0.26%	31,907	$1.1M	New
ETHE Grayscale Ethereum Staking E	0.26%	54,167	$1.1M	Add +0.4%
YUM Yum! Brands Inc.	0.26%	7,571	$1.1M	Reduce -0.0%
PLTR Palantir Technologies Inc. Class A	0.25%	7,796	$1.1M	Reduce -20.9%
PM Philip Morris International	0.25%	5,892	$1.1M	Reduce -0.5%
VUG Vanguard Mrngstar GR ETF-Sui	0.25%	2,435	$1.1M	Reduce -3.2%
AXON Axon Enterprise Inc.	0.25%	1,287	$1.1M	Add +2.6%
HELO JPMorgan Hedged Equity ETF	0.24%	16,905	$1.1M	Add +35.1%
AMAT Applied Materials Inc.	0.23%	5,542	$1.0M	Add +0.3%
COST Costco Wholesale Corp.	0.23%	1,022	$1.0M	Add +1.0%
HOOD Robinhood Markets Inc. Class A	0.23%	10,481	$1.0M	Reduce -13.4%
COIN Coinbase Global Inc. Class A	0.23%	2,872	$1.0M	Reduce -5.7%
SCZ iShares MSCI Eafe Small-Cap	0.23%	13,669	$993K	Reduce -12.4%
LLY Eli Lilly & Co.	0.23%	1,260	$983K	No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd	0.23%	3,429	$978K	Add +1.2%
FTEC Fidelity MSCI Info Tech Indx	0.22%	4,919	$970K	Reduce -4.9%
EMXC iShares MSCI Emr MRK Ex Chna	0.22%	15,088	$953K	Reduce -56.3%
XLV SS Health Care Select Sector	0.22%	6,916	$932K	Add +2.1%
IJH iShares Core S&P Midcap ETF	0.21%	14,566	$903K	No change
ARKB ARK 21SHARES Bitcoin ETF	0.21%	24,918	$892K	Reduce -23.0%
NOW ServiceNow Inc.	0.20%	860	$884K	Add +0.6%
APP AppLovin Corp. Class A	0.20%	2,491	$872K	Reduce -15.2%
PANW Palo Alto Networks Inc.	0.19%	4,096	$838K	Add +2.1%
CVX Chevron Corp.	0.19%	5,608	$803K	Reduce -2.7%
ROK Rockwell Automation Inc.	0.19%	2,416	$802K	Add +15.9%
IUSV iShares Core S&P U.S. Value	0.19%	8,480	$802K	Add +0.4%
MAR Marriott International Class A	0.18%	2,914	$796K	Reduce -0.1%
SDY SS SPDR S&P Dividend ETF	0.18%	5,804	$788K	Add +0.2%
AMD Advanced Micro Devices	0.18%	5,537	$786K	Reduce -4.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.18%	16,510	$781K	Add +2.2%
WMT Walmart Inc.	0.18%	7,928	$775K	Add +9.8%
PNC PNC Financial Services Group	0.18%	4,121	$768K	Add +0.4%
JSCP JPMorgan Short Duration Core	0.18%	16,115	$764K	Add +18.5%
MRK Merck & Co. Inc.	0.17%	9,573	$758K	Add +1.0%
GE General Electric filed as GE AEROSPACE	0.17%	2,933	$755K	Add +9.4%
MTUM iShares MSCI USA Momentum Fa	0.17%	3,146	$753K	Reduce -7.3%
BTC Grayscale Bitcoin Mini ETF	0.17%	15,700	$750K	Add +26.2%
CMCSA Comcast Corp. Class A	0.17%	20,707	$739K	Add +4.2%
ASML ASML Holding NV-NY Reg SHS	0.17%	923	$739K	Add +60.0%
EFA iShares MSCI Eafe ETF	0.17%	8,076	$722K	Reduce -4.0%
ICE Intercontinental Exchange Inc.	0.16%	3,893	$714K	Add +1.0%
VFMV Vanguard US Minimum Volatili	0.16%	5,556	$712K	No change
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.16%	5,673	$704K	Reduce -0.0%
JNJ Johnson & Johnson	0.16%	4,518	$690K	Reduce -4.8%
XLF SS Financial Select Sector	0.16%	13,171	$690K	Reduce -13.9%
ADBE Adobe Inc.	0.16%	1,774	$686K	Reduce -12.9%
WFC Wells Fargo & Co.	0.16%	8,467	$678K	Add +5.2%
TRV The Travelers Cos Inc.	0.15%	2,472	$661K	Add +0.1%
MCK McKesson Corp.	0.15%	879	$643K	No change
BLDR Builders Firstsource Inc.	0.15%	5,496	$641K	Reduce -0.7%
CDNS Cadence Design SYS Inc.	0.15%	2,072	$638K	Reduce -0.3%
RSPN Invesco S&P 500 Equal Weight	0.14%	11,645	$623K	Reduce -9.6%
ISRG Intuitive Surgical Inc.	0.14%	1,138	$618K	Add +5.6%
SPGI S&P Global Inc.	0.14%	1,169	$616K	Add +3.3%
XLE SS Energy Select Sector	0.14%	7,201	$611K	Reduce -2.2%
ITA iShares U.S. Aerospace & Def	0.14%	3,215	$606K	Reduce -2.5%
FTNT Fortinet Inc.	0.14%	5,703	$603K	Add +6.2%
CSCO Cisco Systems Inc.	0.14%	8,596	$596K	Reduce -2.7%
PGR Progressive Corp.	0.14%	2,219	$592K	Add +5.5%
UBER Uber Technologies Inc.	0.14%	6,337	$591K	Add +22.4%
ROKU Roku Inc.	0.14%	6,685	$588K	Reduce -15.9%
MELI MercadoLibre Inc.	0.14%	224	$586K	Add +12.0%
MGV Vngrd Mrgstr MG CP VL ETF-Ui	0.13%	4,412	$579K	Reduce -1.7%
RBLX Roblox Corp. Class A	0.13%	5,501	$579K	Reduce -26.4%
VGT Vanguard Info Tech ETF	0.13%	841	$557K	Reduce -1.2%
INTU Intuit Inc.	0.13%	706	$556K	Reduce -5.0%
CIBR First Trust Nasdaq Cybersecu	0.13%	7,222	$546K	Reduce -1.5%
CEG Constellation Energy	0.13%	1,679	$542K	Add +10.9%
IXJ iShares Global Healthcare Et	0.13%	6,292	$542K	Add +11.7%
VST Vistra Corp.	0.12%	2,774	$538K	No change
KO The Coca-Cola Co.	0.12%	7,594	$537K	Add +2.1%
PG The Procter & Gamble Co.	0.12%	3,340	$532K	Add +1.1%
VRT Vertiv Holdings Co. Class A	0.12%	4,020	$516K	Reduce -3.6%
CAT Caterpillar Inc.	0.12%	1,316	$511K	Reduce -2.8%
DASH DoorDash Inc. Class A	0.12%	2,062	$508K	Add +9.7%
LRCX Lam Research Corp.	0.12%	5,169	$503K	Reduce -0.8%
MU Micron Technology Inc.	0.12%	4,049	$499K	Add +1.4%
BAI Ishrs AI in and Tech Act ETF	0.11%	17,126	$492K	New
TXN Texas Instruments Inc.	0.11%	2,352	$489K	Add +0.0%
P Everpure Inc. Class A filed as PURE STORAGE INC	0.11%	8,448	$486K	Reduce -5.6%
PYPL PayPal Holdings Inc.	0.11%	6,464	$480K	Add +2.4%
QCOM Qualcomm Inc.	0.11%	2,984	$475K	Reduce -0.4%
DVY iShares Select Dividend ETF	0.11%	3,543	$471K	Reduce -0.1%
VRTX Vertex Pharmaceuticals Inc.	0.11%	1,052	$468K	Reduce -3.3%
XLP SS Consumer Staples Sel Sect	0.11%	5,713	$463K	Add +76.5%
MO Altria Group Inc.	0.11%	7,851	$460K	Add +8.8%
TMUS T-Mobile US Inc.	0.11%	1,925	$459K	Add +3.2%
XOM Exxon Mobil Corp.	0.11%	4,254	$459K	Add +1.9%
SPOT Spotify Technology SA	0.11%	595	$457K	Add +0.8%
CB Chubb Ltd.	0.10%	1,566	$454K	Add +9.7%
VIG Vanguard Dividend Apprec ETF	0.10%	2,136	$437K	Add +8.8%
GM General Motors Co.	0.10%	8,878	$437K	Add +14.4%
VOO Vanguard S&P 500 ETF	0.10%	769	$437K	Reduce -45.8%
AMP Ameriprise Financial Inc.	0.10%	806	$430K	Add +2.1%
NVS Novartis AG-Sponsored ADR	0.10%	3,521	$426K	Add +77.9%
INTC Intel Corp.	0.10%	18,913	$424K	Add +1.0%
TDG Transdigm Group Inc.	0.10%	278	$422K	Add +5.7%
AMGN Amgen Inc.	0.09%	1,467	$410K	Reduce -5.1%
BLK BlackRock Inc.	0.09%	383	$401K	Reduce -0.8%
TMO Thermo Fisher Scientific Inc.	0.09%	984	$399K	Reduce -15.3%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.09%	4,855	$396K	Add +55.7%
IWB iShares Russell 1000 ETF	0.09%	1,166	$396K	Reduce -16.9%
HIG Hartford Insurance Group Inc.	0.09%	3,077	$390K	Reduce -4.4%
NSC Norfolk Southern Corp.	0.09%	1,525	$390K	Add +1.7%
CARR Carrier Global Corp.	0.09%	5,316	$389K	Add +1.5%
RCL Royal Caribbean Cruises Ltd.	0.09%	1,240	$388K	Add +7.3%
VB Vanguard Most SM-Cap ETF-Usd	0.09%	1,638	$388K	Add +0.1%
MET Metlife Inc.	0.09%	4,826	$388K	Add +18.5%
EXI iShares Global Industrials E	0.09%	2,332	$386K	Reduce -18.0%
GS Goldman Sachs Group Inc.	0.09%	537	$380K	Add +8.3%
IUSB Ishr CR Unvrse Usd BD ETF-Ui	0.09%	8,156	$377K	Reduce -14.2%
AVB Avalonbay Communities Inc.	0.09%	1,838	$374K	Add +0.3%
ETN Eaton Corp. PLC	0.09%	1,041	$372K	Add +2.3%
WMB Williams Cos Inc.	0.09%	5,908	$371K	Add +4.8%
GEV GE Vernova Inc.	0.09%	664	$371K	New
BA The Boeing Co.	0.09%	1,769	$371K	Add +14.5%
S Sentinelone Inc. Class A	0.09%	20,172	$369K	Reduce -0.0%
SYF Synchrony Financial	0.09%	5,520	$369K	Add +17.8%
HDV iShares Core High Dividend E	0.08%	3,125	$366K	Reduce -17.9%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.08%	3,913	$356K	Add +7.9%
TEM Tempus AI Inc. Class A	0.08%	5,538	$352K	Reduce -17.2%
ETHA iShares Ethereum Trust ETF	0.08%	18,190	$347K	Reduce -18.6%
MCD McDonald's Corp.	0.08%	1,183	$346K	Add +4.2%
DUK Duke Energy Corp.	0.08%	2,929	$346K	Add +5.7%
DELL Dell Technologies -C	0.08%	2,813	$345K	Reduce -0.8%
IGV iShares Expanded Tech-Softwa	0.08%	3,136	$343K	Add +0.2%
PFE Pfizer Inc.	0.08%	14,111	$342K	Add +2.0%
DHR Danaher Corp.	0.08%	1,700	$336K	Reduce -12.3%
VFH Vanguard Financials ETF	0.08%	2,593	$330K	Reduce -4.5%
CRSP Crispr Therapeutics AG	0.08%	6,720	$327K	Reduce -9.4%
QQQ Invesco QQQ Trust Series 1	0.08%	592	$327K	No change
SLV iShares Silver Trust	0.07%	9,455	$322K	Reduce -1.2%
SOXX iShares Semiconductor ETF	0.07%	1,345	$321K	Reduce -41.9%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD	0.07%	23,086	$317K	Add +23.3%
IWM iShares Russell 2000 ETF	0.07%	1,467	$317K	Reduce -52.4%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F	0.07%	5,812	$316K	Reduce -1.1%
BITO Proshares Bitcoin ETF-Usd	0.07%	14,658	$315K	Add +3.2%
LIN Linde PLC	0.07%	671	$315K	Reduce -0.5%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC	0.07%	4,354	$313K	Add +9.1%
KLAC KLA Corp.	0.07%	345	$309K	Reduce -17.3%
GLDM SPDR Gold Minishares Trust	0.07%	4,706	$308K	New
ACN Accenture PLC Class A	0.07%	1,014	$303K	Add +9.3%
VXF Vanguard Extended Market ETF	0.07%	1,560	$301K	New
ARKK ARK Innovation ETF	0.07%	4,234	$298K	Reduce -16.7%
DDOG Datadog Inc. Class A	0.07%	2,213	$297K	New
IAK iShares U.S. Insurance ETF	0.07%	2,150	$289K	Reduce -1.4%
D Dominion Energy Inc.	0.07%	5,100	$288K	Add +4.2%
SPYV SS SPDR P S&P 500 Value ETF	0.07%	5,501	$288K	No change
XYL Xylem Inc.	0.07%	2,220	$287K	Add +1.6%
SMCI Super Micro Computer Inc.	0.07%	5,848	$287K	Reduce -6.8%
XBI SS SPDR S&P Biotech ETF	0.07%	3,452	$286K	Add +29.2%
ITB iShares U.S. Home Constructi	0.07%	3,056	$285K	Reduce -0.3%
MDT Medtronic PLC	0.07%	3,266	$285K	Add +19.2%
BABA Alibaba Group Holding-SP ADR	0.07%	2,498	$283K	Reduce -4.7%
IYG iShares U.S. Financial Servi	0.07%	3,293	$282K	Reduce -3.8%
SHW The Sherwin-Williams Co.	0.06%	817	$281K	Add +1.4%
URI United Rentals Inc.	0.06%	372	$280K	Add +2.8%
NTRA Natera Inc.	0.06%	1,641	$277K	Add +0.3%
FIS Fidelity National Info Serv	0.06%	3,402	$277K	Add +8.6%
BSX Boston Scientific Corp.	0.06%	2,575	$277K	Add +12.1%
VGK Vanguard Ftse Europe ETF	0.06%	3,559	$276K	Reduce -1.1%
LULU Lululemon Athletica Inc.	0.06%	1,150	$273K	Reduce -0.8%
APH Amphenol Corp. Class A	0.06%	2,753	$272K	New
UNP Union Pacific Corp.	0.06%	1,168	$269K	Add +4.7%
CW Curtiss-Wright Corp.	0.06%	534	$261K	New
XLC SS Comm Select Sector SPDR	0.06%	2,383	$259K	Reduce -4.9%
PCOR Procore Technologies Inc.	0.06%	3,599	$246K	Reduce -0.6%
AIG American International Group	0.06%	2,873	$246K	Add +1.1%
ETH Grayscale Ethereum Staking M	0.06%	9,565	$244K	New
HWM Howmet Aerospace Inc.	0.06%	1,163	$242K	New
CMG Chipotle Mexican Grill Inc.	0.06%	4,299	$241K	Reduce -8.7%
MRVL Marvell Technology Inc.	0.06%	3,108	$241K	New
LDOS Leidos Holdings Inc.	0.06%	1,522	$240K	No change
VZ Verizon Communications Inc.	0.06%	5,502	$238K	Add +3.6%
MCHI iShares MSCI China ETF	0.05%	4,312	$238K	No change
VEU Vanguard Ftse All-World Ex-U	0.05%	3,500	$235K	Reduce -12.5%
HON Honeywell International Inc.	0.05%	1,010	$235K	Add +3.1%
T AT&T Inc.	0.05%	8,073	$234K	Add +13.8%
OTIS Otis Worldwide Corp.	0.05%	2,343	$232K	Add +2.8%
DE Deere & Co.	0.05%	454	$231K	Reduce -5.0%
ROL Rollins Inc.	0.05%	4,049	$228K	Add +0.1%
CL Colgate-Palmolive Co.	0.05%	2,488	$226K	Add +4.0%
IYE iShares U.S. Energy ETF	0.05%	4,965	$225K	Add +0.3%
LMT Lockheed Martin Corp.	0.05%	482	$223K	Reduce -36.5%
SE Sea Ltd.-ADR	0.05%	1,388	$222K	New
GD General Dynamics Corp.	0.05%	759	$221K	New
J Jacobs Solutions Inc.	0.05%	1,683	$221K	Reduce -22.1%
PCAR Paccar Inc.	0.05%	2,314	$220K	Add +4.3%
JCI Johnson Controls Internation	0.05%	2,076	$219K	New
NKE Nike Inc. Class B	0.05%	3,049	$217K	New
HUBS HubSpot Inc.	0.05%	379	$211K	Add +3.0%
PHM Pultegroup Inc.	0.05%	1,983	$209K	Reduce -4.7%
SCHW Schwab (charles) Corp.	0.05%	2,281	$208K	New
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.05%	1,668	$206K	Add +0.8%
FCX Freeport-McMoran Inc.	0.05%	4,706	$204K	New
PH Parker Hannifin Corp.	0.05%	291	$204K	New
TER Teradyne Inc.	0.05%	2,262	$203K	Reduce -19.4%
PAUG Innovator U.S. Equity Power	0.05%	5,000	$202K	New
JMBS Janus Henderson Mortg Backed	0.05%	4,440	$200K	New
ACHR Archer Aviation Inc. Class A	0.04%	17,597	$191K	Reduce -5.1%
TXG 10X Genomics Inc. Class A	0.03%	10,503	$122K	Reduce -8.8%
RXRX Recursion Pharmaceuticals-A	0.02%	19,930	$101K	Reduce -22.5%
NTLA Intellia Therapeutics Inc.	0.02%	10,665	$100K	Reduce -10.1%
GRAB Grab Holdings Ltd. Class A	0.02%	13,922	$70K	New
PACB Pacific Biosciences of Calif	0.01%	18,307	$23K	Reduce -22.3%

Portfolio Sells Q1 2025 → Q2 2025


AAPL Apple Inc.	Reduce -0.7%	3.78%	−1.23
IVV iShares Core S&P 500 ETF	Reduce -29.3%	1.44%	−0.80
MDCX Medicus Pharma Ltd.	Reduce -4.5%	1.10%	−0.64
VTV Vanguard Mrngstr Val ETF-Aui	Reduce -1.3%	1.94%	−0.39
IEFA iShares Core MSCI Eafe ETF	Reduce -6.1%	1.88%	−0.32
EMXC iShares MSCI Emr MRK Ex Chna	Reduce -56.3%	0.22%	−0.31
PULS Pgim Ultra Short Bond ETF	Reduce -16.5%	0.41%	−0.19
IAU iShares Gold Trust	Reduce -3.7%	0.97%	−0.18
PEP Pepsico Inc.	Reduce -9.6%	0.30%	−0.16
HEFA Isha Curr Hedged MSCI Eafe	Sold out	0.00%	−0.13
SPSM SS SPDR P S&P 600 Small Cap	Sold out	0.00%	−0.11
SBUX Starbucks Corp.	Reduce -2.3%	0.33%	−0.11
BKNG Booking Holdings Inc.	Sold out	0.00%	−0.11
VTI VG Morningstar TS MKT ETF-US	Reduce -13.0%	0.41%	−0.11
VOO Vanguard S&P 500 ETF	Reduce -45.8%	0.10%	−0.10
IWM iShares Russell 2000 ETF	Reduce -52.4%	0.07%	−0.10
SCHF Schwab Intl Equity ETF	Sold out	0.00%	−0.09
CVX Chevron Corp.	Reduce -2.7%	0.19%	−0.08
SNY Sanofi-ADR	Sold out	0.00%	−0.08
AMZN Amazon.com Inc.	Reduce -1.0%	1.24%	−0.08
YUM Yum! Brands Inc.	Reduce -0.0%	0.26%	−0.07
FDIS Fidelity MSCI Cons Discr Ind	Sold out	0.00%	−0.07
BTI British American Tob-SP ADR	Sold out	0.00%	−0.07
TMO Thermo Fisher Scientific Inc.	Reduce -15.3%	0.09%	−0.07
IVW iShares S&P 500 Growth ETF	Reduce -6.3%	0.73%	−0.07
JNJ Johnson & Johnson	Reduce -4.8%	0.16%	−0.06
ADBE Adobe Inc.	Reduce -12.9%	0.16%	−0.06
GILD Gilead Sciences Inc.	Sold out	0.00%	−0.06
DGRW Wisdomtree U.S. Quality Divi	Reduce -0.9%	0.35%	−0.06
DECK Deckers Outdoor Corp.	Sold out	0.00%	−0.06
LOW Lowe's Cos Inc.	Sold out	0.00%	−0.06
VO Vngrd Mrngstr MD-Cap ETF-Usd	Reduce -3.7%	0.34%	−0.06
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -2.1%	0.45%	−0.05
XLF SS Financial Select Sector	Reduce -13.9%	0.16%	−0.05
GOOG Alphabet Inc. Class C	Reduce -0.9%	0.66%	−0.05
XLE SS Energy Select Sector	Reduce -2.2%	0.14%	−0.05
SOXX iShares Semiconductor ETF	Reduce -41.9%	0.07%	−0.05
RTX RTX Corp.	Reduce -1.9%	0.41%	−0.05
SCZ iShares MSCI Eafe Small-Cap	Reduce -12.4%	0.23%	−0.05
MPC Marathon Petroleum Corp.	Reduce -3.9%	0.44%	−0.05
BLDR Builders Firstsource Inc.	Reduce -0.7%	0.15%	−0.05
HDV iShares Core High Dividend E	Reduce -17.9%	0.08%	−0.04
VWO Vanguard Ftse Emerging Marke	Reduce -4.9%	0.27%	−0.04
LMT Lockheed Martin Corp.	Reduce -36.5%	0.05%	−0.04
IYW iShares Ustechnology ETF	Reduce -12.4%	0.35%	−0.04
ARKB ARK 21SHARES Bitcoin ETF	Reduce -23.0%	0.21%	−0.04
AMGN Amgen Inc.	Reduce -5.1%	0.09%	−0.04
VRTX Vertex Pharmaceuticals Inc.	Reduce -3.3%	0.11%	−0.04
IUSB Ishr CR Unvrse Usd BD ETF-Ui	Reduce -14.2%	0.09%	−0.04
DHR Danaher Corp.	Reduce -12.3%	0.08%	−0.03

Portfolio Buys Q1 2025 → Q2 2025


JMST JPM Ultra-Short Muni Income	Add +185.1%	8.17%	+4.70
JAAA Janus Henderson Aaa Clo ETF	New	3.88%	+3.88
NVDA Nvidia Corp.	Add +5.1%	1.40%	+0.29
MSFT Microsoft Corp.	Add +0.6%	3.03%	+0.27
THRO iShares U.S. Thematic Rotati	New	0.26%	+0.26
EFV iShares MSCI Eafe Value ETF	Add +61.8%	0.72%	+0.22
AVGO Broadcom Inc.	Add +5.1%	0.56%	+0.17
JPST JPMorgan Ultra-Short Income	Add +31.4%	1.85%	+0.14
IEMG iShares Core MSCI Emerging	Add +19.8%	1.49%	+0.13
BAI Ishrs AI in and Tech Act ETF	New	0.11%	+0.11
ORCL Oracle Corp.	Add +3.0%	0.37%	+0.09
GEV GE Vernova Inc.	New	0.09%	+0.09
CRWD CrowdStrike Holdings Inc. Class A	Add +1.8%	0.47%	+0.08
OEF iShares S&P 100 ETF	Add +53.6%	0.27%	+0.08
GLDM SPDR Gold Minishares Trust	New	0.07%	+0.07
VXF Vanguard Extended Market ETF	New	0.07%	+0.07
META Meta Platforms Inc. Class A	Add +0.8%	1.16%	+0.07
DDOG Datadog Inc. Class A	New	0.07%	+0.07
ASML ASML Holding NV-NY Reg SHS	Add +60.0%	0.17%	+0.06
APH Amphenol Corp. Class A	New	0.06%	+0.06
NFLX Netflix Inc.	Add +3.5%	0.34%	+0.06
AXON Axon Enterprise Inc.	Add +2.6%	0.25%	+0.06
CW Curtiss-Wright Corp.	New	0.06%	+0.06
ETH Grayscale Ethereum Staking M	New	0.06%	+0.06
HWM Howmet Aerospace Inc.	New	0.06%	+0.06
MRVL Marvell Technology Inc.	New	0.06%	+0.06
SE Sea Ltd.-ADR	New	0.05%	+0.05
GD General Dynamics Corp.	New	0.05%	+0.05
JCI Johnson Controls Internation	New	0.05%	+0.05
NKE Nike Inc. Class B	New	0.05%	+0.05
SCHW Schwab (charles) Corp.	New	0.05%	+0.05
FCX Freeport-McMoran Inc.	New	0.05%	+0.05
PH Parker Hannifin Corp.	New	0.05%	+0.05
PAUG Innovator U.S. Equity Power	New	0.05%	+0.05
JMBS Janus Henderson Mortg Backed	New	0.05%	+0.05
BTC Grayscale Bitcoin Mini ETF	Add +26.2%	0.17%	+0.05
CEG Constellation Energy	Add +10.9%	0.13%	+0.04
NVS Novartis AG-Sponsored ADR	Add +77.9%	0.10%	+0.04
HELO JPMorgan Hedged Equity ETF	Add +35.1%	0.24%	+0.04
ANET Arista Networks Inc.	Add +5.0%	0.28%	+0.03
ROK Rockwell Automation Inc.	Add +15.9%	0.19%	+0.03
XLP SS Consumer Staples Sel Sect	Add +76.5%	0.11%	+0.03
UBER Uber Technologies Inc.	Add +22.4%	0.14%	+0.03
ETHE Grayscale Ethereum Staking E	Add +0.4%	0.26%	+0.03
MELI MercadoLibre Inc.	Add +12.0%	0.14%	+0.03
GE General Electric	Add +9.4%	0.17%	+0.02
RCL Royal Caribbean Cruises Ltd.	Add +7.3%	0.09%	+0.02
XLU St Sr Utl SL SE SPDR ETF-Usd	Add +55.7%	0.09%	+0.02
DASH DoorDash Inc. Class A	Add +9.7%	0.12%	+0.02
NU Nu Holdings Ltd./Cayman Isl-A	Add +23.3%	0.07%	+0.02

Options Activity Q1 2025 → Q2 2025


INTC Intel Corp.	call	Sold out	14,900	$99Kbefore exit
PYPL PayPal Holdings Inc.	call	Sold out	2,700	$20Kbefore exit
TTD Trade Desk Inc./the Class A	call	Sold out	1,800	$19Kbefore exit
GOOG Alphabet Inc. Class C	call	Sold out	1,200	$19Kbefore exit
PFE Pfizer Inc.	call	Sold out	3,600	$8Kbefore exit
SLV iShares Silver Trust	call	Sold out	4,500	$7Kbefore exit
P Everpure Inc. Class A	call	Sold out	600	$6Kbefore exit
CMG Chipotle Mexican Grill Inc.	call	Sold out	600	$6Kbefore exit
BABA Alibaba Group Holding-SP ADR	call	Sold out	1,500	$6Kbefore exit
GLD SPDR Gold Shares	call	Sold out	600	$5Kbefore exit
CRM Salesforce Inc.	call	Sold out	200	$5Kbefore exit
DELL Dell Technologies -C	call	Sold out	300	$4Kbefore exit
UBER Uber Technologies Inc.	call	Sold out	600	$2Kbefore exit
PCAR Paccar Inc.	put	Sold out	300	$2Kbefore exit
AMZN Amazon.com Inc.	call	Sold out	200	$2Kbefore exit
CMCSA Comcast Corp. Class A	call	Sold out	1,200	$2Kbefore exit
PLTR Palantir Technologies Inc. Class A	call	Sold out	200	$2Kbefore exit
NVDA Nvidia Corp.	call	Sold out	300	$1Kbefore exit
CEG Constellation Energy	call	Sold out	100	$1Kbefore exit
SPY SS SPDR S&P 500 ETF Trust-US	put	Sold out	0	$975before exit
IWM iShares Russell 2000 ETF	call	Sold out	600	$924before exit
ACHR Archer Aviation Inc. Class A	call	Sold out	300	$756before exit
RXRX Recursion Pharmaceuticals-A	call	Sold out	600	$600before exit
AMD Advanced Micro Devices	call	Sold out	600	$582before exit
WFC Wells Fargo & Co.	call	Sold out	300	$579before exit
NU Nu Holdings Ltd./Cayman Isl-A	call	Sold out	600	$306before exit
RBLX Roblox Corp. Class A	call	Sold out	900	$252before exit
PEP Pepsico Inc.	call	Sold out	1,200	$36before exit
PYPL PayPal Holdings Inc.	put	Sold out	600	$0before exit
XLE SS Energy Select Sector	put	Sold out	600	$0before exit

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

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	430	$531.7M	AAPL, JMST, IQLT, NVDA, MSFT
Q1 2026	279	$316.4M	AAPL, IQLT, JMST, MSFT, ASST
Q4 2025	424	$539.1M	JMST, AAPL, JAAA, SMLR, MSFT
Q3 2025	365	$510.1M	JMST, SMLR, AAPL, JAAA, MSFT
Q2 2025Amended	280	$432.9M	SMLR, JMST, JAAA, AAPL, IQLT
Q1 2025	269	$356.8M	SMLR, AAPL, JMST, IQLT, MSFT
Q4 2024	247	$275.5M	IQLT, AAPL, JMST, VTV, MSFT
Q3 2024	260	$281.3M	IQLT, AAPL, MSFT, VTV, IVV
Q2 2024	264	$271.9M	IQLT, AAPL, MSFT, JPST, VTV
Q1 2024	167	$148.3M	IQLT, VTV, IVV, IEFA, VLUE