CIK: 0001510809
Total reported value
$354.3M
Reporting period: 2026-03-31 · Number of holdings: 122
AVALON CAPITAL MANAGEMENT disclosed 122 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $354.3M and a quarterly turnover rate of 45.8%.
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Avalon Capital Management's disclosed holdings carry a Herfindahl concentration index of 0.037 — mathematically equivalent to about 27 equally-sized positions, well below its 122 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.86), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 44% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add CVX
+3557.1% $10.4M
Trim FXF
-97.4% -$9.1M
Trim XLU
-97.7% -$7.8M
Trim LLY
-46.7% -$8.3M
Add IEMG
+54.1% $4.5M
Add DISV
+756.4% $5.2M
Showing top 121 holdings (of 122 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 11.07% | +0.69% | -1.68% | |
| 2 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 6.53% | -0.78% | -29.29% | |
| 3 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 5.15% | -0.35% | -13.16% | |
| 4 | SMH | Vaneck Semiconductor ETF | ETF-Other | 5.05% | — | -6.64% | |
| 5 | PDBC | Invesco Optimum Yield Divers | ETF-Other | 4.85% | +4.85% | NEW | |
| 6 | GLD | Spdr Gold Shares | ETF-Commodities | 4.55% | +0.40% | -14.32% | |
| 7 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 3.40% | +1.60% | +54.06% | |
| 8 | CSCO | Cisco Systems INC | Stock-Tech | 3.36% | — | -4.65% | |
| 9 | AAPL | Apple INC | Stock-Tech | 3.31% | -0.23% | -15.10% | |
| 10 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.07% | -0.02% | -6.74% | |
| 11 | CVX | Chevron CORP | Stock-Energy | 2.99% | +2.94% | +3557.10% | |
| 12 | URA | Global X Uranium ETF | ETF-Other | 2.62% | +0.73% | +3.61% | |
| 13 | ILF | Ishares Latin America 40 ETF | ETF-Other | 2.42% | +0.05% | -26.07% | |
| 14 | EMBX | Vaneck Em Bond ETF | ETF-Other | 2.31% | — | -14.06% | |
| 15 | REMX | Vaneck Rar Earth Nd Stg-usdi | ETF-Other | 2.14% | +0.50% | -7.09% | |
| 16 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.97% | -1.69% | -46.70% | |
| 17 | DISV | Dimensional International Sm | ETF-Other | 1.65% | +1.49% | +756.37% | |
| 18 | PWRD | Tcw Transform Systems ETF | ETF-Other | 1.52% | -0.13% | -23.18% | |
| 19 | MSFT | Microsoft CORP | Stock-Tech | 1.45% | -0.77% | -27.43% | |
| 20 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 1.31% | — | — | |
| 21 | DIVO | Amplify Cwp Enhan Divid ETF | ETF-Other | 1.24% | — | +1.20% | |
| 22 | AMGN | Amgen INC | Stock-Healthcare | 1.23% | -1.03% | -57.26% | |
| 23 | IAU | Ishares Gold Trust | ETF-Commodities | 1.14% | — | -13.42% | |
| 24 | MOAT | Vaneck Morningstar Wide Moat | ETF-Other | 1.08% | -0.12% | -18.23% | |
| 25 | RAAX | Vaneck Real Assets ETF | ETF-Other | 1.04% | +0.30% | +1.71% | |
| 26 | PIT | Vaneck Commodity Strat ETF | ETF-Commodities | 1.01% | +1.01% | NEW | |
| 27 | SLV | Ishares Silver Trust | ETF-Commodities | 0.98% | -0.35% | -40.80% | |
| 28 | FDX | Fedex CORP | Stock-Industrials | 0.87% | +0.87% | NEW | |
| 29 | DTCR | Global X Data Center & Digit | ETF-Other | 0.81% | — | +1.54% | |
| 30 | VTV | Vanguard Value ETF | ETF-Other | 0.74% | +0.26% | +26.16% | |
| 31 | GPIX | Gldm SA S&p 500 Pr In Etf-us | ETF-Large Cap & Growth | 0.73% | — | -5.10% | |
| 32 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.73% | — | -15.03% | |
| 33 | NVDA | Nvidia CORP | Stock-Tech | 0.72% | — | -0.41% | |
| 34 | EUAD | Select Stoxx Eur Aer De ETF | ETF-Other | 0.65% | — | -10.64% | |
| 35 | XME | Ss Spdr S&p Metals Mining | ETF-Other | 0.64% | +0.58% | +705.02% | |
| 36 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.63% | -0.05% | -17.54% | |
| 37 | GEV | GE Vernova INC | Stock-Industrials | 0.62% | — | -14.22% | |
| 38 | AOK | Ishares Core 30/70 Conservat | ETF-Other | 0.58% | +0.58% | NEW | |
| 39 | SCJ | Ishares Msci Japan Small-cap | ETF-Other | 0.57% | — | -21.65% | |
| 40 | LCR | Leuthold Core ETF | ETF-Other | 0.51% | — | +0.27% | |
| 41 | DGRW | Wisdomtree U.s. Quality Divi | ETF-Other | 0.46% | — | -10.61% | |
| 42 | EMB | Ishares Jp Morgan Usd Emergi | ETF-Other | 0.40% | — | +0.03% | |
| 43 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.39% | -0.12% | -31.42% | |
| 44 | V | Visa Inc-class A Shares | Stock-Financials | 0.37% | -0.15% | -30.13% | |
| 45 | CNQ | Canadian Natural Resources | Stock-Energy | 0.37% | — | +24.88% | |
| 46 | GSST | Goldman Sachs Ultra Short Bo | ETF-Commodities | 0.36% | -0.90% | -76.14% | |
| 47 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.35% | — | — | |
| 48 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 0.35% | — | -24.20% | |
| 49 | ET | Energy Transfer LP | Stock-Energy | 0.33% | — | — | |
| 50 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.31% | — | -2.47% |
Performance for Q3 2026
-2.8%
Performance Last 4 Quarters
+29.3%
Based on 77% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 122 | $354.3M | 46 | |
| 2025-12-31 | 139 | $418.0M | 45 | |
| 2025-09-30 | 133 | $408.0M | 70 | |
| 2025-06-30 | 127 | $372.2M | 0 | |
| 2025-03-31 | 126 | $344.3M | 100 | |
| 2024-12-31 | 131 | $309.8M | 0 | |
| 2024-09-30 | 130 | $330.2M | 0 | |
| 2024-06-30 | 120 | $315.4M | 0 | |
| 2024-03-31 | 99 | $244.1M | 0 | |
| 2023-12-31 | 93 | $238.2M | 0 | |
| 2023-09-30 | 69 | $196.0M | 0 | |
| 2023-06-30 | 54 | $213.6M | 0 | |
| 2023-03-31 | 52 | $195.0M | 0 | |
| 2022-12-31 | 54 | $198.6M | 0 | |
| 2022-09-30 | 60 | $208.8M | 0 | |
| 2022-06-30 | 60 | $244.4M | 0 | |
| 2022-03-31 | 71 | $260.5M | 0 | |
| 2021-12-31 | 60 | $226.9M | 0 | |
| 2021-09-30 | 43 | $178.3M | 0 | |
| 2021-06-30 | 34 | $118.6M | 95 | |
| 2021-03-31 | 21 | $107.4M | 55 | |
| 2020-12-31 | 24 | $105.8M | 72 | |
| 2020-09-30 | 25 | $108.0M | 31 | |
| 2020-06-30 | 23 | $101.6M | 100 | |
| 2020-03-31 | 21 | $84.2M | 100 | |
| 2019-12-31 | 33 | $82.3M | 61 | |
| 2019-09-30 | 36 | $84.5M | 46 | |
| 2019-06-30 | 33 | $87.6M | 100 | |
| 2019-03-31 | 42 | $117.8M | 0 | |
| 2018-12-31 | 36 | $93.8M | 100 | |
| 2018-09-30 | 46 | $109.5M | 88 | |
| 2018-06-30 | 48 | $100.6M | 100 | |
| 2018-03-31 | 54 | $101.6M | 100 | |
| 2017-12-31 | 71 | $112.0M | 99 | |
| 2017-09-30 | 89 | $144.5M | 100 | |
| 2017-06-30 | 74 | $135.5M | 90 | |
| 2017-03-31 | 81 | $144.4M | 100 | |
| 2016-12-31 | 77 | $131.1M | 86 | |
| 2016-09-30 | 69 | $130.0M | 100 | |
| 2016-06-30 | 69 | $127.9M | 97 | |
| 2016-03-31 | 70 | $124.7M | 100 | |
| 2015-12-31 | 64 | $110.9M | 100 | |
| 2015-09-30 | 58 | $108.6M | 100 | |
| 2015-06-30 | 65 | $109.6M | 100 | |
| 2015-03-31 | 64 | $123.7M | 100 | |
| 2014-12-31 | 62 | $130.1M | 100 | |
| 2014-09-30 | 69 | $119.9M | 100 | |
| 2014-06-30 | 91 | $120.4M | 85 | |
| 2014-03-31 | 93 | $123.8M | 100 | |
| 2013-12-31 | 99 | $118.6M | 95 | |
| 2013-09-30 | 83 | $101.4M | 76 | |
| 2013-06-30 | 74 | $101.6M | 0 |
Avalon Capital Management's most significant position changes for 2026-03-31: New buy: Invesco Optimum Yield Divers (PDBC); Sold out: Ishares Msci Germany ETF (EWG); Sold out: Ishares Msci India ETF (INDA); Sold out: Invesco Water Resources ETF (PHO); New buy: Vaneck Commodity Strat ETF (PIT).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CVX | Chevron CORP | +2.9% | +3557.10% | Add |
| 2 | IEMG | Ishares Core Msci Emerging | +1.6% | +54.06% | Add |
| 3 | DISV | Dimensional International Sm | +1.5% | +756.37% | Add |
| 4 | URA | Global X Uranium ETF | +0.7% | +3.61% | Add |
| 5 | GOOGL | Alphabet Inc-cl A | +0.7% | -1.68% | Trim |
| 6 | XME | Ss Spdr S&p Metals Mining | +0.6% | +705.02% | Add |
| 7 | REMX | Vaneck Rar Earth Nd Stg-usdi | +0.5% | -7.09% | Trim |
| 8 | GLD | Spdr Gold Shares | +0.4% | -14.32% | Trim |
| 9 | RAAX | Vaneck Real Assets ETF | +0.3% | +1.71% | Add |
| 10 | VTV | Vanguard Value ETF | +0.3% | +26.16% | Add |
| 11 | ILF | Ishares Latin America 40 ETF | +0.1% | -26.07% | Trim |
| 12 | EMBX | Vaneck Em Bond ETF | — | -14.06% | Trim |
| 13 | AMZN | Amazon.com INC | 0% | -6.74% | Trim |
| 14 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | -17.54% | Trim |
| 15 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.1% | -32.02% | Trim |
| 16 | KROP | Global X Agtech & Food Innov | -0.1% | -48.07% | Trim |
| 17 | MOAT | Vaneck Morningstar Wide Moat | -0.1% | -18.23% | Trim |
| 18 | QQQ | Invesco Qqq Trust Series 1 | -0.1% | -31.42% | Trim |
| 19 | PWRD | Tcw Transform Systems ETF | -0.1% | -23.18% | Trim |
| 20 | SLVP | Ishares Msci Global Silver A | -0.1% | -53.79% | Trim |
| 21 | V | Visa Inc-class A Shares | -0.2% | -30.13% | Trim |
| 22 | AAPL | Apple INC | -0.2% | -15.10% | Trim |
| 23 | HEI | Heico CORP | -0.2% | -55.51% | Trim |
| 24 | GOOG | Alphabet Inc-cl C | -0.4% | -13.16% | Trim |
| 25 | SLV | Ishares Silver Trust | -0.4% | -40.80% | Trim |
| 26 | GBIL | Goldman Sachs Access Treasur | -0.4% | -74.15% | Trim |
| 27 | MSFT | Microsoft CORP | -0.8% | -27.43% | Trim |
| 28 | GDX | Vaneck Gold Miners ETF | -0.8% | -29.29% | Trim |
| 29 | TDG | Transdigm Group INC | -0.8% | -89.94% | Trim |
| 30 | HODL | Vaneck Bitcoin ETF | -0.9% | -79.93% | Trim |
| 31 | GSST | Goldman Sachs Ultra Short Bo | -0.9% | -76.14% | Trim |
| 32 | AMGN | Amgen INC | -1% | -57.26% | Trim |
| 33 | LLY | Eli Lilly & Co | -1.7% | -46.70% | Trim |
| 34 | XLU | St Sr Utl Sl Se Spdr Etf-usd | -1.9% | -97.65% | Trim |
| 35 | FXF | Invesco Currencyshares Swiss | -2.2% | -97.42% | Trim |
| 36 | PDBC | Invesco Optimum Yield Divers | — | NEW | New buy |
| 37 | EWG | Ishares Msci Germany ETF | — | EXIT | Sold out |
| 38 | INDA | Ishares Msci India ETF | — | EXIT | Sold out |
| 39 | PHO | Invesco Water Resources ETF | — | EXIT | Sold out |
| 40 | PIT | Vaneck Commodity Strat ETF | — | NEW | New buy |
| 41 | FDX | Fedex CORP | — | NEW | New buy |
| 42 | IEF | Ishares 7-10 Year Treasury B | — | EXIT | Sold out |
| 43 | VTIP | Vanguard Short-term Tips | — | EXIT | Sold out |
| 44 | AOR | Ishares Core 60/40 Balanced | — | EXIT | Sold out |
| 45 | AOK | Ishares Core 30/70 Conservat | — | NEW | New buy |
| 46 | BWZ | State Street Spdr Bloomberg | — | EXIT | Sold out |
| 47 | BX | Blackstone INC | — | EXIT | Sold out |
| 48 | B | Barrick Mining CORP | — | EXIT | Sold out |
| 49 | IBIT | Ishares Bitcoin Trust ETF | — | EXIT | Sold out |
| 50 | BWX | State Street Spdr Bloomberg | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-11 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-22 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-07 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-07 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-04 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-24 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-17 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-12 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-12-06 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-27 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-30 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-19 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-26 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-10 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-07 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-19 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-15 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-22 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-20 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-04 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-07 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-07-12 | Amendment | View on EDGAR |
| 2019-03-31 | 2019-04-12 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-16 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-18 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-19 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-16 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-26 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-23 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-27 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-26 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-27 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-18 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-27 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-02 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-22 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-22 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-17 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-30 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-24 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-10 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-12 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-28 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-28 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-25 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-06 | 13F-HR | View on EDGAR |
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