Wealth Enhancement Advisory Services, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 16, 2025), Wealth Enhancement Advisory Services, LLC reported 2,921 stock positions worth $52.3 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 6.8% of the portfolio, followed by Apple (AAPL, 3.0%) and iShares Core U.S. Aggregate (AGG, 2.9%). Compared with Q4 2024, it opened 278 new positions, sold out of 222, added to 1,556 and reduced 1,029. The biggest buy was Victoryshares US Small Mid C (USVM, shares +20640%) and the biggest sale SS SPDR S&P 400 MC Val ETF (MDYV, shares −63%).
- Most Recent 13F
- Q2 2026
- Location
- PLYMOUTH, MN
- CIK
- 0001632972
- Portfolio Value
- $52.3B (Q1 2025)
- SEC Filing
- 0001214659-25-005972 ↗ filed Apr 16, 2025
Holdings Value
Holdings 2,921 stocks · $52.3B
| IVV iShares Core S&P 500 ETF | 6.77% | 6,294,293 | $3.5B | Reduce -3.4% |
| AAPL Apple Inc. | 2.99% | 7,026,887 | $1.6B | Reduce -1.5% |
| AGG iShares Core U.S. Aggregate | 2.88% | 15,197,862 | $1.5B | Add +6.0% |
| MSFT Microsoft Corp. | 1.93% | 2,688,111 | $1.0B | Add +3.5% |
| SMTH Alps SMTH Cor BD Plus ETF | 1.92% | 38,822,260 | $1.0B | Add +8.8% |
| NVDA Nvidia Corp. | 1.45% | 7,011,495 | $759.9M | Reduce -2.2% |
| VWO Vanguard Ftse Emerging Marke | 1.36% | 15,697,319 | $710.5M | Add +5.7% |
| IMTM iShares MSCI Intl Momentum F | 1.35% | 17,625,999 | $704.0M | Reduce -10.4% |
| JMOM JPMorgan US Momentum Factor | 1.25% | 11,633,460 | $655.7M | Add +15.1% |
| AVLV Avantis US Large Cap Value | 1.24% | 9,904,202 | $645.9M | Add +21.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.19% | 1,171,693 | $624.0M | Add +3.9% |
| USMV iShares MSCI USA Min Vol Fac | 1.19% | 6,624,202 | $620.4M | Add +102.5% |
| AMZN Amazon.com Inc. | 1.14% | 3,135,806 | $596.6M | Reduce -20.0% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.12% | 16,157,846 | $583.9M | Reduce -10.0% |
| GOVT iShares US Treasury Bond ETF | 1.04% | 23,633,284 | $543.2M | Add +9.3% |
| USVM Victoryshares US Small Mid C | 1.01% | 6,718,205 | $529.0M | Add +20640.3% |
| SPHQ Invesco S&P 500 Quality ETF | 0.97% | 7,640,588 | $506.9M | Reduce -6.4% |
| JPM JPMorgan Chase & Co. | 0.83% | 1,778,395 | $436.2M | Add +10.9% |
| VOO Vanguard S&P 500 ETF | 0.79% | 807,691 | $415.1M | Add +0.9% |
| UYLD Angel Oak Ultrashort Income | 0.79% | 8,079,980 | $412.8M | Add +10.7% |
| GOOGL Alphabet Inc. Class A | 0.74% | 2,508,914 | $388.0M | Add +5.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.71% | 659,395 | $368.9M | Add +0.6% |
| SCHX Schwab US Large-Cap ETF | 0.70% | 16,624,072 | $367.1M | Reduce -4.9% |
| DWAS Invesco Dorsey Wright Smallc | 0.63% | 4,202,898 | $327.7M | Reduce -34.8% |
| SCHD Schwab US DVD Equity ETF | 0.62% | 11,654,619 | $325.9M | Add +1.6% |
| AVDE Avantis International Equity | 0.60% | 4,731,636 | $313.6M | Reduce -3.2% |
| V Visa Inc. Class A | 0.58% | 867,704 | $304.1M | Add +22.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.56% | 1,070,903 | $294.3M | Add +5.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.55% | 1,158,366 | $288.0M | Add +27.6% |
| JPST JPMorgan Ultra-Short Income | 0.54% | 5,588,353 | $282.9M | Add +10.0% |
| JNJ Johnson & Johnson | 0.54% | 1,698,831 | $281.7M | Add +6.2% |
| META Meta Platforms Inc. Class A | 0.54% | 487,672 | $281.1M | Add +16.3% |
| VIG Vanguard Dividend Apprec ETF | 0.52% | 1,413,464 | $274.2M | Add +12.8% |
| UNH Unitedhealth Group Inc. | 0.51% | 511,669 | $268.0M | Reduce -12.6% |
| PG The Procter & Gamble Co. | 0.50% | 1,547,786 | $263.8M | Reduce -7.4% |
| XOM Exxon Mobil Corp. | 0.49% | 2,172,413 | $258.4M | Reduce -1.9% |
| CSCO Cisco Systems Inc. | 0.48% | 4,037,909 | $249.2M | Add +28.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.46% | 514,600 | $241.3M | Add +4.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.43% | 599,364 | $222.3M | Add +11.4% |
| HD Home Depot Inc. | 0.42% | 598,985 | $219.5M | Reduce -2.7% |
| QQQM Invesco Nasdaq 100 ETF | 0.42% | 1,125,021 | $217.2M | Reduce -31.0% |
| JAAA Janus Henderson Aaa Clo ETF | 0.41% | 4,198,106 | $212.9M | Reduce -8.1% |
| WMT Walmart Inc. | 0.40% | 2,400,752 | $210.8M | Reduce -15.4% |
| AUSF Global X Adaptive US Factor | 0.39% | 4,679,485 | $204.3M | Reduce -1.0% |
| FLIA Franklin International Aggre | 0.39% | 9,968,472 | $201.6M | Add +7.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.38% | 1,161,108 | $200.6M | Add +9.8% |
| MDYV SS SPDR S&P 400 MC Val ETF | 0.37% | 2,519,657 | $194.1M | Reduce -63.2% |
| GOOG Alphabet Inc. Class C | 0.37% | 1,224,890 | $191.4M | Reduce -22.6% |
| CVX Chevron Corp. | 0.36% | 1,133,752 | $189.7M | Add +10.1% |
| MTUM iShares MSCI USA Momentum Fa | 0.36% | 925,556 | $187.1M | Reduce -1.9% |
| SCHV Schwab US Large-Cap Value | 0.35% | 6,969,917 | $185.3M | Reduce -8.4% |
| SCHF Schwab Intl Equity ETF | 0.35% | 9,353,612 | $185.0M | Add +10.5% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.35% | 3,534,578 | $180.5M | Add +172.5% |
| BOXX Alpha Architect 1-3 MNTH Box | 0.34% | 1,613,964 | $179.9M | Add +11.9% |
| VXUS Vanguard Total Intl Stock | 0.34% | 2,869,030 | $178.2M | Add +4.9% |
| MA Mastercard Inc. Class A | 0.33% | 316,790 | $173.6M | Add +13.6% |
| SHV iShares 0-1 Year Treasury Bo | 0.32% | 1,517,183 | $167.6M | Add +25.2% |
| PEP Pepsico Inc. | 0.31% | 1,067,990 | $160.1M | Reduce -3.8% |
| SCHM Schwab US Mid Cap ETF | 0.30% | 5,903,425 | $154.7M | Reduce -3.0% |
| IEF iShares 7-10 Year Treasury B | 0.29% | 1,606,373 | $153.2M | Add +0.5% |
| IEFA iShares Core MSCI Eafe ETF | 0.29% | 2,006,376 | $151.8M | Reduce -4.0% |
| ICSH iShares Ultra Short Duration | 0.29% | 2,985,587 | $151.4M | Add +22.3% |
| DFAC Dimensional US Core Equity 2 | 0.29% | 4,557,403 | $150.3M | Reduce -5.6% |
| PLTR Palantir Technologies Inc. Class A | 0.29% | 1,771,140 | $149.5M | Add +162.3% |
| TMUS T-Mobile US Inc. | 0.29% | 559,131 | $149.1M | Add +1.1% |
| IWF iShares Russell 1000 Growth | 0.28% | 410,733 | $148.3M | Add +1.5% |
| MRK Merck & Co. Inc. | 0.28% | 1,646,903 | $147.8M | Add +5.5% |
| AVGO Broadcom Inc. | 0.28% | 864,725 | $144.8M | Reduce -33.7% |
| WFC Wells Fargo & Co. | 0.27% | 1,991,573 | $143.0M | Reduce -26.9% |
| ABT Abbott Laboratories | 0.27% | 1,074,844 | $142.6M | Reduce -4.9% |
| IJR iShares Core S&P Small-Cap E | 0.27% | 1,356,364 | $141.8M | Add +0.7% |
| COST Costco Wholesale Corp. | 0.27% | 147,961 | $139.9M | Add +7.8% |
| WM Waste Management Inc. | 0.26% | 592,229 | $137.1M | Add +3.1% |
| BIV Vanguard Intermediate-Term B | 0.26% | 1,762,045 | $134.9M | Add +3.1% |
| ETN Eaton Corp. PLC | 0.25% | 482,578 | $131.2M | Reduce -22.7% |
| IWD iShares Russell 1000 Value E | 0.25% | 695,968 | $131.0M | Add +3.6% |
| GE General Electric filed as GE AEROSPACE | 0.25% | 643,659 | $128.8M | Add +10.7% |
| MCD McDonald's Corp. | 0.25% | 411,606 | $128.6M | Reduce -6.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.25% | 1,951,291 | $128.3M | Add +10.6% |
| LLY Eli Lilly & Co. | 0.24% | 151,865 | $125.4M | Add +9.9% |
| MCK McKesson Corp. | 0.24% | 183,258 | $123.3M | Add +4.3% |
| AMGN Amgen Inc. | 0.23% | 385,168 | $120.0M | Reduce -25.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.23% | 2,868,514 | $119.7M | Reduce -21.7% |
| MSI Motorola Solutions Inc. | 0.23% | 269,870 | $118.2M | Reduce -7.9% |
| DFUV Dimensional US Marketwide Va | 0.22% | 2,838,771 | $117.0M | Reduce -1.8% |
| XLG Invesco S&P 500 Top 50 ETF | 0.22% | 2,505,947 | $115.3M | Add +130.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 943,136 | $114.9M | Add +1.9% |
| MS Morgan Stanley | 0.22% | 969,920 | $113.2M | Reduce -0.5% |
| ABBV Abbvie Inc. | 0.22% | 536,450 | $112.4M | Add +2.3% |
| DFAT Dimensional US Target Value | 0.21% | 2,165,412 | $111.5M | Reduce -4.7% |
| BND Vanguard Total Bond Market | 0.21% | 1,501,736 | $110.3M | Reduce -9.3% |
| PRF Invesco Rafi US 1000 ETF | 0.21% | 2,677,635 | $108.2M | Add +3.2% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.21% | 1,578,299 | $107.3M | Reduce -5.2% |
| DIVO Amplify CWP Enhan Divid ETF | 0.20% | 2,590,073 | $105.6M | Add +4.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.20% | 1,058,872 | $104.5M | Reduce -19.1% |
| IWB iShares Russell 1000 ETF | 0.20% | 337,657 | $103.6M | Reduce -0.5% |
| RSP Invesco S&P 500 Equal Weight | 0.20% | 590,120 | $102.2M | Reduce -3.6% |
| LMT Lockheed Martin Corp. | 0.20% | 228,483 | $102.1M | Add +15.6% |
| TOTL SS Doubleline TR Tact ETF | 0.20% | 2,532,676 | $102.0M | Reduce -7.1% |
| QCOM Qualcomm Inc. | 0.19% | 646,449 | $99.3M | Reduce -25.8% |
Options reported separately and not counted above: NVDA calls ($9.9M), PLTR calls ($3.8M), AAPL puts ($1.8M), MSFT puts ($924K), CRWD calls ($863K), SPY calls ($856K), AMZN calls ($829K), PANW calls ($803K), NOW calls ($778K), CRM calls ($690K), CDNS calls ($660K), META calls ($496K), and 32 more.
Other holdings (9): bonds, preferreds, convertibles and warrants · $6.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 42,226 | $2.1M | Reduce -1.4% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 25,431 | $1.0M | Add +14.5% |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 84,920 | $797K | Reduce -4.3% |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | 13,468 | $614K | Add +10.8% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 491 | $607K | Add +2.3% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 428 | $514K | Reduce -1.6% |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 12,402 | $303K | Add +0.2% |
| FBYDW Falcon's Beyond Global-27 | *W EXP 10/06/202 | 31,956 | $32K | No change |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 30,000 | $11K | No change |
Total filed on the 13F, all lines: $52.3B.
Portfolio Sells Q4 2024 → Q1 2025
| MDYV SS SPDR S&P 400 MC Val ETF | Reduce -63.2% | 0.37% | −0.68 |
| IVV iShares Core S&P 500 ETF | Reduce -3.4% | 6.77% | −0.58 |
| AMZN Amazon.com Inc. | Reduce -20.0% | 1.14% | −0.51 |
| DWAS Invesco Dorsey Wright Smallc | Reduce -34.8% | 0.63% | −0.50 |
| AAPL Apple Inc. | Reduce -1.5% | 2.99% | −0.44 |
| NVDA Nvidia Corp. | Reduce -2.2% | 1.45% | −0.39 |
| TSLA Tesla Inc. | Reduce -52.1% | 0.16% | −0.37 |
| AVGO Broadcom Inc. | Reduce -33.7% | 0.28% | −0.30 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -31.0% | 0.42% | −0.24 |
| GOOG Alphabet Inc. Class C | Reduce -22.6% | 0.37% | −0.21 |
| ETN Eaton Corp. PLC | Reduce -22.7% | 0.25% | −0.15 |
| ISRG Intuitive Surgical Inc. | Reduce -52.5% | 0.12% | −0.15 |
| KNO Axs Knowledge Leaders ETF | Reduce -77.5% | 0.04% | −0.13 |
| AMD Advanced Micro Devices | Reduce -65.6% | 0.04% | −0.09 |
| WFC Wells Fargo & Co. | Reduce -26.9% | 0.27% | −0.09 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -33.7% | 0.17% | −0.09 |
| MUB iShares National Muni Bond E | Reduce -36.8% | 0.15% | −0.09 |
| WMT Walmart Inc. | Reduce -15.4% | 0.40% | −0.09 |
| NOW ServiceNow Inc. | Reduce -26.9% | 0.10% | −0.09 |
| APD Air Products & Chemicals Inc. | Reduce -40.3% | 0.12% | −0.08 |
| BAC Bank of America Corp. | Reduce -21.7% | 0.23% | −0.08 |
| DIS The Walt Disney Co. | Reduce -19.1% | 0.20% | −0.08 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce -6.4% | 0.97% | −0.08 |
| SCHX Schwab US Large-Cap ETF | Reduce -4.9% | 0.70% | −0.07 |
| BA The Boeing Co. | Reduce -28.8% | 0.16% | −0.07 |
| ANET Arista Networks Inc. | Reduce -47.8% | 0.04% | −0.07 |
| QCOM Qualcomm Inc. | Reduce -25.8% | 0.19% | −0.07 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -39.4% | 0.11% | −0.07 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -36.0% | 0.12% | −0.06 |
| IMTM iShares MSCI Intl Momentum F | Reduce -10.4% | 1.35% | −0.06 |
| TEX Terex Corp. | Reduce -44.4% | 0.05% | −0.06 |
| GS Goldman Sachs Group Inc. | Reduce -32.9% | 0.10% | −0.06 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Reduce -49.6% | 0.04% | −0.06 |
| PNC PNC Financial Services Group | Reduce -31.8% | 0.09% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -12.6% | 0.51% | −0.05 |
| DVN Devon Energy Corp. | Reduce -36.8% | 0.14% | −0.05 |
| ZTS Zoetis Inc. | Reduce -51.5% | 0.05% | −0.05 |
| SCHR Schwab Intermediate-Term US | Reduce -31.7% | 0.11% | −0.05 |
| STZ Constellation Brands Inc. Class A | Reduce -23.8% | 0.07% | −0.04 |
| MU Micron Technology Inc. | Reduce -75.1% | 0.01% | −0.04 |
| XMMO Invesco S&P Midcap Momentum | Reduce -43.3% | 0.04% | −0.04 |
| DHI D.R. Horton Inc. | Reduce -16.6% | 0.13% | −0.04 |
| HD Home Depot Inc. | Reduce -2.7% | 0.42% | −0.04 |
| CIEN Ciena Corp. | Reduce -0.4% | 0.09% | −0.04 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -8.1% | 0.41% | −0.04 |
| PANW Palo Alto Networks Inc. | Reduce -14.2% | 0.15% | −0.04 |
| SPAB SS SPDR P Agg Bond ETF | Reduce -18.2% | 0.18% | −0.04 |
| RTX RTX Corp. | Reduce -27.0% | 0.18% | −0.04 |
| SCHO Schwab Short-Term US Treas | Reduce -34.8% | 0.07% | −0.03 |
| MSI Motorola Solutions Inc. | Reduce -7.9% | 0.23% | −0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| USVM Victoryshares US Small Mid C | Add +20640.3% | 1.01% | +1.01 |
| USMV iShares MSCI USA Min Vol Fac | Add +102.5% | 1.19% | +0.63 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +172.5% | 0.35% | +0.22 |
| AGG iShares Core U.S. Aggregate | Add +6.0% | 2.88% | +0.21 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +3.9% | 1.19% | +0.21 |
| AVLV Avantis US Large Cap Value | Add +21.3% | 1.24% | +0.19 |
| PLTR Palantir Technologies Inc. Class A | Add +162.3% | 0.29% | +0.19 |
| SMTH Alps SMTH Cor BD Plus ETF | Add +8.8% | 1.92% | +0.18 |
| IBM Intl Business Machines Corp. | Add +27.6% | 0.55% | +0.17 |
| V Visa Inc. Class A | Add +22.8% | 0.58% | +0.15 |
| TXUE Thornburg Interntin Eqty ETF | New | 0.15% | +0.15 |
| JMOM JPMorgan US Momentum Factor | Add +15.1% | 1.25% | +0.13 |
| CSCO Cisco Systems Inc. | Add +28.9% | 0.48% | +0.12 |
| XLG Invesco S&P 500 Top 50 ETF | Add +130.2% | 0.22% | +0.12 |
| VWO Vanguard Ftse Emerging Marke | Add +5.7% | 1.36% | +0.11 |
| MMM 3M Co. | Add +121.1% | 0.17% | +0.10 |
| JPM JPMorgan Chase & Co. | Add +10.9% | 0.83% | +0.10 |
| JNJ Johnson & Johnson | Add +6.2% | 0.54% | +0.10 |
| FEGE First Eagle GL Equity ETF | Add +12541.4% | 0.09% | +0.09 |
| GOVT iShares US Treasury Bond ETF | Add +9.3% | 1.04% | +0.09 |
| CVX Chevron Corp. | Add +10.1% | 0.36% | +0.08 |
| UYLD Angel Oak Ultrashort Income | Add +10.7% | 0.79% | +0.08 |
| JSI JH Securitized Income ETF | Add +255.1% | 0.10% | +0.07 |
| IJS iShares S&P Small-Cap 600 Va | Add +690.9% | 0.08% | +0.07 |
| META Meta Platforms Inc. Class A | Add +16.3% | 0.54% | +0.07 |
| SHV iShares 0-1 Year Treasury Bo | Add +25.2% | 0.32% | +0.07 |
| CBRE CBRE Group Inc. Class A | Add +1079.3% | 0.07% | +0.06 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +123.3% | 0.10% | +0.06 |
| GE General Electric | Add +10.7% | 0.25% | +0.06 |
| OAKM Oakmark US Large Cap ETF | Add +1871.3% | 0.06% | +0.06 |
| VIG Vanguard Dividend Apprec ETF | Add +12.8% | 0.52% | +0.05 |
| SCHF Schwab Intl Equity ETF | Add +10.5% | 0.35% | +0.05 |
| ICSH iShares Ultra Short Duration | Add +22.3% | 0.29% | +0.05 |
| PM Philip Morris International | Add +24.9% | 0.13% | +0.05 |
| GEV GE Vernova Inc. | Add +79.4% | 0.13% | +0.05 |
| TMUS T-Mobile US Inc. | Add +1.1% | 0.29% | +0.05 |
| JPST JPMorgan Ultra-Short Income | Add +10.0% | 0.54% | +0.05 |
| MA Mastercard Inc. Class A | Add +13.6% | 0.33% | +0.05 |
| GLD SPDR Gold Shares | Add +25.2% | 0.14% | +0.05 |
| MCK McKesson Corp. | Add +4.3% | 0.24% | +0.04 |
| CTAS Cintas Corp. | Add +75.7% | 0.09% | +0.04 |
| SPMO Invesco S&P 500 Momentum ETF | Add +1414.5% | 0.05% | +0.04 |
| PFE Pfizer Inc. | Add +55.5% | 0.13% | +0.04 |
| VZ Verizon Communications Inc. | Add +23.6% | 0.14% | +0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +9.8% | 0.38% | +0.04 |
| WM Waste Management Inc. | Add +3.1% | 0.26% | +0.04 |
| BOXX Alpha Architect 1-3 MNTH Box | Add +11.9% | 0.34% | +0.04 |
| TMSL T.rowe PRC Small-Mid Cap ETF | Add +1168.2% | 0.04% | +0.04 |
| ZROZ PIMCO 25+ YR Zero CPN US Tif | Add +777.8% | 0.04% | +0.04 |
| HELO JPMorgan Hedged Equity ETF | Add +36.1% | 0.16% | +0.04 |
Options Activity Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | call | Reduce -19.5% | 594,600 | $9.9M |
| PLTR Palantir Technologies Inc. Class A | call | Add +146.6% | 110,700 | $3.8M |
| TSLA Tesla Inc. | call | Sold out | 16,300 | $3.4Mbefore exit |
| AAPL Apple Inc. | put | Add +35.3% | 142,100 | $1.8M |
| MSFT Microsoft Corp. | put | Add +24.6% | 29,400 | $924K |
| CRWD CrowdStrike Holdings Inc. Class A | call | Reduce -41.4% | 10,200 | $863K |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +3.4% | 84,700 | $856K |
| AMZN Amazon.com Inc. | call | Reduce -32.4% | 37,200 | $829K |
| PANW Palo Alto Networks Inc. | call | Reduce -17.6% | 26,200 | $803K |
| NOW ServiceNow Inc. | call | Add +35.9% | 7,200 | $778K |
| AAPL Apple Inc. | call | Sold out | 10,900 | $728Kbefore exit |
| CRM Salesforce Inc. | call | Add +374.4% | 37,000 | $690K |
| CDNS Cadence Design SYS Inc. | call | Reduce -5.7% | 33,000 | $660K |
| META Meta Platforms Inc. Class A | call | Reduce -44.3% | 3,400 | $496K |
| AVGO Broadcom Inc. | put | Add +12.6% | 11,600 | $474K |
| ARM Arm Holdings PLC-ADR | call | Add +8.1% | 20,000 | $453K |
| NVDA Nvidia Corp. | put | Add +7.1% | 28,800 | $439K |
| IONQ Ionq Inc. | call | Sold out | 25,000 | $411Kbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +35.0% | 16,200 | $394K |
| TSLA Tesla Inc. | put | Reduce -65.9% | 7,500 | $381K |
| XLE SS Energy Select Sector | call | Sold out | 40,100 | $345Kbefore exit |
| MRVL Marvell Technology Inc. | call | Add +42.7% | 100,200 | $321K |
| VRT Vertiv Holdings Co. Class A | call | Add +7.9% | 36,700 | $313K |
| QQQ Invesco QQQ Trust Series 1 | put | New | 9,400 | $288K |
| AVGO Broadcom Inc. | call | Sold out | 5,600 | $220Kbefore exit |
| LEU Centrus Energy Corp. Class A | put | Sold out | 9,000 | $211Kbefore exit |
| QQQ Invesco QQQ Trust Series 1 | call | Add +28.2% | 33,200 | $166K |
| FISV Fiserv Inc. | put | Add +29.7% | 22,700 | $130K |
| CMG Chipotle Mexican Grill Inc. | call | Sold out | 19,800 | $122Kbefore exit |
| JPM JPMorgan Chase & Co. | put | Sold out | 17,400 | $104Kbefore exit |
| BSX Boston Scientific Corp. | put | New | 15,000 | $104K |
| BMO Bank of Montreal | put | Reduce -3.4% | 28,600 | $96K |
| XOM Exxon Mobil Corp. | put | Add +40.2% | 27,200 | $92K |
| P Everpure Inc. Class A | call | Sold out | 13,600 | $79Kbefore exit |
| IWM iShares Russell 2000 ETF | put | New | 13,000 | $75K |
| TLT iShares 20+ Year Treasury BD | put | Sold out | 11,700 | $72Kbefore exit |
| NEE Nextera Energy Inc. | call | Sold out | 25,000 | $57Kbefore exit |
| PPH Vaneck Pharmaceutical ETF | put | Sold out | 11,000 | $47Kbefore exit |
| GLD SPDR Gold Shares | put | Sold out | 13,900 | $21Kbefore exit |
| X United States Steel Corp. | call | New | 15,600 | $20K |
| GRAB Grab Holdings Ltd. Class A | call | New | 10,500 | $14K |
| FLG Flagstar Bank NA | call | Add +4.2% | 12,500 | $12K |
| BB Blackberry Ltd. | call | Add +250.0% | 35,000 | $11K |
| WYNN WYNN Resorts Ltd. | call | New | 10,000 | $10K |
| SHCO Soho House & Co. Inc. | call | New | 14,000 | $10K |
| C Citigroup Inc. | call | New | 12,500 | $9K |
| SMCI Super Micro Computer Inc. | call | New | 10,000 | $8K |
| TSCO Tractor Supply Company | put | Sold out | 28,500 | $4Kbefore exit |
| FCX Freeport-McMoran Inc. | call | New | 25,000 | $2K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | Reduce -1.4% | 42,226 | $2.1M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Add +14.5% | 25,431 | $1.0M |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Reduce -4.3% | 84,920 | $797K |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | Add +10.8% | 13,468 | $614K |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +2.3% | 491 | $607K |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -1.6% | 428 | $514K |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Add +0.2% | 12,402 | $303K |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | Sold out | 65,000 | $62Kbefore exit |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Sold out | 14,000 | $31Kbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Sold out | 30,000 | $30Kbefore exit |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Sold out | 18,000 | $17Kbefore exit |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Sold out | 18,000 | $17Kbefore exit |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Sold out | 15,000 | $16Kbefore exit |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 16,000 | $16Kbefore exit |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 16,000 | $15Kbefore exit |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | Sold out | 14,000 | $14Kbefore exit |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | Sold out | 14,000 | $14Kbefore exit |
| TWO HARBORS INV CORP (TWO 6.25 01/15/26) | NOTE 6.250% 1/1 · principal | Sold out | 14,000 | $14Kbefore exit |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Sold out | 12,000 | $14Kbefore exit |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 11,000 | $13Kbefore exit |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Sold out | 13,000 | $13Kbefore exit |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Sold out | 12,000 | $12Kbefore exit |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | Sold out | 12,000 | $12Kbefore exit |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | Sold out | 12,000 | $12Kbefore exit |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | Sold out | 12,000 | $12Kbefore exit |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Sold out | 11,000 | $12Kbefore exit |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Sold out | 11,000 | $11Kbefore exit |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Sold out | 10,000 | $10Kbefore exit |
| SABRE GLBL INC (SABHLD 4 04/15/25) | NOTE 4.000% 4/1 · principal | Sold out | 10,000 | $10Kbefore exit |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | Sold out | 10,000 | $10Kbefore exit |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | Sold out | 10,000 | $3Kbefore 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 | 3,915 | $59.6B | IVV, AAPL, AGG, NVDA, SMTH |
| Q1 2026 | 3,519 | $45.5B | IVV, AGG, SMTH, MSFT, FNDF |
| Q4 2025 | 3,566 | $73.7B | IVV, AVGO, AAPL, AGG, NVDA |
| Q3 2025 | 3,473 | $66.1B | IVV, AAPL, AGG, MSFT, NVDA |
| Q2 2025 | 3,273 | $60.4B | IVV, AGG, AAPL, MSFT, NVDA |
| Q1 2025 | 2,921 | $52.3B | IVV, AAPL, AGG, MSFT, SMTH |
| Q4 2024Amended | 2,863 | $52.2B | IVV, AAPL, AGG, MSFT, NVDA |
| Q3 2024 | 2,612 | $46.5B | IVV, AAPL, AGG, MSFT, NVDA |
| Q2 2024 | 2,476 | $42.1B | IVV, AAPL, AGG, MSFT, NVDA |
| Q1 2024 | 2,365 | $38.7B | IVV, AGG, AAPL, MSFT, IMTM |