DRW Securities portfolio

What changed this quarter

1327 positions with a change (301 new, 165 added to, 294 trimmed, 567 sold); also, 10 exited through an acquisition or merger. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Ishares Bitcoin Trust ETF+5.1 ppof portfolioNew
  — → 5.6%
• Ishares Tr+2,445%more sharesIncreased
  0.1% → 3.9%
• Vanguard Ftse Developed ETF−89%fewer sharesReduced
  3.2% → 0.4%
• Ishares+5,250%more sharesIncreased
  0.1% → 2.7%
• iShares Msci Emerging Market ETF−95%fewer sharesReduced
  2.4% → 0.1%
• Alphabet−2.0 ppof portfolioReduced
  4.1% → 2.7%
• Invesco QQQ Trust Series 1 ETF+144%more sharesIncreased
  0.9% → 3.2%
• Baron First Principles ETF+1.6 ppof portfolioNew
  — → 1.8%
• Entrepreneurshares Series Tr+170%more sharesIncreased
  0.8% → 2.8%
• iShares China Large-cap ETF−60%fewer sharesReduced
  2.9% → 1.1%
• Ishares Tr+215%more sharesIncreased
  0.6% → 2.0%
• Ishares−55%fewer sharesReduced
  1.3% → 1.1%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• State Str Spdr S&P 500 ETF TSPY6.7%
• Ishares Bitcoin Trust ETFIBIT5.6%
• NVIDIANVDA4.1%
• Ishares TrLQD3.9%
• Invesco QQQ Trust Series 1 ETFQQQ3.2%
• Entrepreneurshares Series TrXOVR2.8%
• IsharesEWZ2.7%
• AlphabetGOOG · GOOGL2.7%
• iShares Tips Bond ETFTIP2.7%
• iShares Msci Eafe ETFEFA2.1%
• Vestas Wind SYS A/sVWSYF2.1%
• Ishares TrHYG2.0%
• Baron First Principles ETFRONB1.8%
• iShares Msci India ETFINDA1.5%
• Vanguard International Equity Index FVEU1.3%
• iShares China Large-cap ETFFXI1.1%
• IsharesEWY1.1%
• TeslaTSLA0.9%
• BPBP0.8%
• IsharesEWT0.7%
• Direxion Shares ETF TrustSOXL0.7%
• Vanguard Index FundsVTI0.7%
• Constellation EnergyCEG0.7%
• MiddlebyMIDD0.7%
• Bitgo HoldingsBTGO0.6%
• Alibaba Group HoldingBABA0.6%
• ProShares Short S&p500 ETFSH0.6%
• Bank of AmericaBAC0.6%
• iShares Msci Eafe Small-cap ETFSCZ0.6%
• iShares Core Msci Eafe ETFIEFA0.6%
• JPMorgan ChaseJPM0.6%
• iShares Core U.s. Aggregate ETFAGG0.6%
• iShares Latin America 40 ETFILF0.6%
• iShares Msci Acwi EX US ETFACWX0.5%
• Vaneck ETF TrustREMX0.5%
• iShares Russell 2000 ETFIWM0.5%
• Micron TechnologyMU0.5%
• Tencent HoldingsTCEHY0.5%
• State Street Financial Select Sector ETFXLF0.5%
• Vanguard Ftse Developed ETFVEA0.4%
• Amazon.comAMZN0.4%
• IsharesURTH0.4%
• Empery DigitalEMPD0.4%
• BroadcomAVGO0.4%
• NetflixNFLX0.4%
• LindeLIN0.4%
• Kranesh CSI China Internet ETFKWEB0.4%
• Kraneshares China Technology ETFKSTR0.4%
• Agnico Eagle MinesAEM0.4%
• Goldman Sachs GroupGS0.4%
• GSKGSK0.4%
• Global X Copper Miners ETFCOPX0.3%
• Huntington BancsharesHBAN0.3%
• Bunge GlobalBG0.3%
• AstrazenecaAZN0.3%
• OracleORCL0.3%
• Wells FargoWFC0.3%
• Honda MotorHMC0.3%
• WelltowerWELL0.3%
• AlcoaAA0.3%
• MicrosoftMSFT0.3%
• Citizens Financial GroupCFG0.3%
• Canton Strategic HoldingsCNTN0.3%
• NucorNUE0.3%
• Hyperliquid StrategiesPURR0.3%
• Walt DisneyDIS0.3%
• NewsNWSA0.3%
• Travelers CompaniesTRV0.3%
• Meta PlatformsMETA0.3%
• First Quantum Minerl FFQVLF0.2%
• AppleAAPL0.2%
• PrologisPLD0.2%
• Royal GoldRGLD0.2%
• Advanced Micro DevicesAMD0.2%
• ProShares Ultrashort S&p500 ETFSDS0.2%
• Zions Bancorporation, National AssociationZION0.2%
• ING GroepING0.2%
• MastercardMA0.2%
• RIO TintoRIO0.2%
• Hdfc BankHDB0.2%
• Direxion Shares ETF TrustSPXS0.2%
• Expand EnergyEXE0.2%
• State Street Materials Select Sector ETFXLB0.2%
• EquinixEQIX0.2%
• CarnivalCCL0.2%
• Vodafone Group PublicVOD0.2%
• Capital One FinancialCOF0.2%
• Commercial MetalsCMC0.2%
• SPDR Gold Shares ETFGLD0.2%
• Wheaton Precious MetalsWPM0.2%
• Equitable HoldingsEQH0.2%
• Freeport-McMoRanFCX0.2%
• ShellSHEL0.2%
• FMCFMC0.2%
• InfosysINFY0.2%
• State Street SPDR S&P Regional Bank ETFKRE0.2%
• BilibiliBILI0.2%
• Palantir TechnologiesPLTR0.2%
• EchoStarECHO0.2%