Institutional
AVALON CAPITAL MANAGEMENT
CIK 0001510809
$354.3M
Reported AUM
121
Positions
Q1 2026
Period
2026-05-15
Filed
The Brief · AVALON CAPITAL MANAGEMENT · Q1 2026
AI · grounded in 13F
AVALON CAPITAL MANAGEMENT established a new position in PDBC valued at $17.18M. The fund also opened new stakes in PIT for $3.56M and FDX for $3.09M. On the sell side, the fund closed its position in EWG, resulting in a $5.61M reduction. Other notable reductions include trimming shares of FXF by 97.4% and XLU by 97.7%.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | GOOGL | ALPHABET INC | $359.68 | 0.53% | 106.76% | 169.34% | $39.2M | 11.07% | −2,333 | −1.7% |
| 2 | GDX | VANECK ETF TRUST | $80.03 | 2.97% | 48.02% | 145.63% | $23.1M | 6.53% | −104,360 | −29.3% |
| 3 | GOOG | ALPHABET INC | $358.16 | 0.45% | 104.47% | 167.21% | $18.3M | 5.15% | −9,645 | −13.2% |
| 4 | SMH | VANECK ETF TRUST | $619.96 | 1.72% | 141.99% | 385.64% | $17.9M | 5.05% | −3,318 | −6.6% |
| 5 | PDBC | INVESCO ACTVELY MNGD ETC FD | $17.06 | -1.04% | 30.89% | 65.30% | $17.2M | 4.85% | +992,122 | NEW |
| 6 | GLD | SPDR GOLD TR | $386.54 | 0.06% | 21.35% | 126.01% | $16.1M | 4.55% | −6,261 | −14.3% |
| 7 | IEMG | ISHARES INC | $82.57 | 0.61% | 44.83% | 49.87% | $12.0M | 3.40% | +60,611 | +54.1% |
| 8 | CSCO | CISCO SYS INC | $121.10 | -0.60% | 93.46% | 152.54% | $11.9M | 3.36% | −7,484 | −4.7% |
| 9 | AAPL | APPLE INC | $291.13 | -1.52% | 48.78% | 104.77% | $11.7M | 3.31% | −8,213 | −15.1% |
| 10 | AMZN | AMAZON COM INC | $238.55 | -1.23% | 12.47% | 43.38% | $10.9M | 3.07% | −3,774 | −6.7% |
| 11 | CVX | CHEVRON CORPORATION | $187.22 | 0.75% | 33.69% | 125.77% | $10.6M | 2.99% | +49,835 | +3557.1% |
| 12 | URA | GLOBAL X FDS | $45.52 | 1.54% | 32.00% | 176.90% | $9.3M | 2.62% | +6,691 | +3.6% |
| 13 | ILF | ISHARES TR | $34.85 | 1.19% | 41.16% | 65.73% | $8.6M | 2.42% | −84,940 | −26.1% |
| 14 | EMBX | VANECK FDS | $51.51 | 0.10% | 11.21% | -7.66% | $8.2M | 2.31% | −26,756 | −14.1% |
| 15 | REMX | VANECK ETF TRUST | $95.50 | 2.73% | 145.32% | -1.86% | $7.6M | 2.14% | −6,581 | −7.1% |
| 16 | LLY | ELI LILLY & CO | $1133.00 | -2.41% | 39.26% | 387.78% | $7.0M | 1.97% | −6,642 | −46.7% |
| 17 | DISV | DIMENSIONAL ETF TRUST | $42.22 | 0.82% | 33.75% | 100.64% | $5.8M | 1.65% | +130,845 | +756.4% |
| 18 | PWRD | TCW ETF TRUST | $113.85 | 1.68% | 36.47% | 116.32% | $5.4M | 1.52% | −16,628 | −23.2% |
| 19 | MSFT | MICROSOFT CORP | $390.74 | 0.10% | -17.07% | 42.90% | $5.2M | 1.45% | −5,262 | −27.4% |
| 20 | EEM | ISHARES TR | $67.88 | 0.56% | 47.44% | 47.06% | $4.6M | 1.31% | — | HELD |
| 21 | DIVO | AMPLIFY ETF TR | $46.42 | 0.72% | 19.98% | 64.16% | $4.4M | 1.24% | +1,158 | +1.2% |
| 22 | AMGN | AMGEN INC | $355.20 | 0.32% | 23.97% | 72.19% | $4.3M | 1.23% | −16,552 | −57.3% |
| 23 | IAU | ISHARES GOLD TR | $79.19 | 0.08% | 22.32% | 129.14% | $4.0M | 1.14% | −7,079 | −13.4% |
| 24 | MOAT | VANECK ETF TRUST | $102.88 | 0.41% | 14.57% | 44.48% | $3.8M | 1.08% | −8,820 | −18.2% |
| 25 | RAAX | VANECK ETF TRUST | $41.09 | 2.26% | 32.08% | 89.63% | $3.7M | 1.04% | +1,523 | +1.7% |
| 26 | PIT | VANECK ETF TRUST | $69.96 | -1.00% | 45.92% | 66.23% | $3.6M | 1.01% | +49,242 | NEW |
| 27 | SLV | ISHARES SILVER TR | $61.29 | 0.77% | 85.93% | 159.42% | $3.5M | 0.98% | −35,147 | −40.8% |
| 28 | FDX | FEDEX CORP | $338.31 | 0.09% | 90.97% | 64.67% | $3.1M | 0.87% | +8,662 | NEW |
| 29 | DTCR | GLOBAL X FDS | $31.16 | 0.23% | 76.03% | 93.59% | $2.9M | 0.81% | +1,811 | +1.5% |
| 30 | VTV | VANGUARD INDEX FDS | $217.09 | 0.93% | 28.01% | 75.49% | $2.6M | 0.74% | +2,757 | +26.2% |
| 31 | GPIX | GOLDMAN SACHS ETF TR | $54.97 | 0.55% | — | — | $2.6M | 0.73% | −2,790 | −5.1% |
| 32 | AEM | AGNICO EAGLE MINES LTD | $162.64 | 3.09% | — | — | $2.6M | 0.73% | −2,251 | −15.0% |
| 33 | NVDA | NVIDIA CORPORATION | $205.19 | 0.16% | — | — | $2.6M | 0.72% | −60 | −0.4% |
| 34 | EUAD | SPINNAKER ETF SERIES | $41.13 | -0.77% | — | — | $2.3M | 0.65% | −6,782 | −10.6% |
| 35 | XME | SPDR SERIES TRUST | $120.44 | 1.77% | — | — | $2.3M | 0.64% | +18,380 | +705.0% |
| 36 | BRK/B | BERKSHIRE HATHAWAY INC DEL | — | — | — | — | $2.2M | 0.63% | −989 | −17.5% |
| 37 | GEV | GE VERNOVA INC | $940.66 | 3.74% | — | — | $2.2M | 0.62% | −419 | −14.2% |
| 38 | AOK | ISHARES TR | $41.32 | 0.12% | — | — | $2.1M | 0.58% | +51,432 | NEW |
| 39 | SCJ | ISHARES INC | $104.71 | 0.17% | — | — | $2.0M | 0.57% | −5,699 | −21.7% |
| 40 | LCR | MANAGED PORTFOLIO SERIES | $39.58 | 0.45% | — | — | $1.8M | 0.51% | +131 | +0.3% |
| 41 | DGRW | WISDOMTREE TR | $96.08 | 0.50% | — | — | $1.6M | 0.46% | −2,215 | −10.6% |
| 42 | EMB | ISHARES TR | $96.36 | 0.09% | — | — | $1.4M | 0.40% | +5 | +0.0% |
| 43 | QQQ | INVESCO QQQ TR | $721.34 | 0.59% | — | — | $1.4M | 0.39% | −1,092 | −31.4% |
| 44 | V | VISA INC | $322.39 | 1.05% | — | — | $1.3M | 0.37% | −1,870 | −30.1% |
| 45 | CNQ | CANADIAN NAT RES LTD MED TER | $45.30 | -0.31% | — | — | $1.3M | 0.37% | +5,289 | +24.9% |
| 46 | GSST | GOLDMAN SACHS ETF TR | $50.48 | 0.00% | — | — | $1.3M | 0.36% | −79,426 | −76.1% |
| 47 | COST | COSTCO WHOLESALE CORPORATION | $982.35 | 0.68% | — | — | $1.3M | 0.35% | — | HELD |
| 48 | QUAL | ISHARES TR | $216.91 | 0.47% | — | — | $1.3M | 0.35% | −2,083 | −24.2% |
| 49 | ET | ENERGY TRANSFER L P | $19.07 | 1.65% | — | — | $1.2M | 0.33% | — | HELD |
| 50 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | $423.93 | 0.68% | — | — | $1.1M | 0.31% | −82 | −2.5% |
| 51 | SPY | STATE STR SPDR S&P 500 ETF T | $741.75 | 0.54% | — | — | $1.1M | 0.31% | −791 | −32.0% |
| 52 | SIL | GLOBAL X FDS | $81.68 | 3.27% | — | — | $1.0M | 0.28% | −1,310 | −10.5% |
| 53 | ORCL | ORACLE CORP | $184.13 | 0.02% | — | — | $1000K | 0.28% | −1,125 | −14.2% |
| 54 | SCHD | SCHWAB STRATEGIC TR | $32.82 | 0.89% | — | — | $953K | 0.27% | — | HELD |
| 55 | ANET | ARISTA NETWORKS INC | $163.24 | 4.37% | — | — | $949K | 0.27% | −948 | −10.9% |
| 56 | XAR | SPDR SERIES TRUST | $279.97 | -1.55% | — | — | $945K | 0.27% | — | HELD |
| 57 | KROP | GLOBAL X FDS | $34.33 | 1.67% | — | — | $881K | 0.25% | −23,560 | −48.1% |
| 58 | ULTA | ULTA BEAUTY INC | $467.74 | -1.82% | — | — | $880K | 0.25% | — | HELD |
| 59 | SHV | ISHARES TR | $110.20 | 0.03% | — | — | $813K | 0.23% | −320 | −4.2% |
| 60 | XOM | EXXON MOBIL CORP | $147.01 | 0.28% | — | — | $748K | 0.21% | +151 | +3.5% |
| 61 | HL | HECLA MINING COMPANY | $15.29 | 2.00% | — | — | $712K | 0.20% | −800 | −2.1% |
| 62 | HODL | VANECK BITCOIN ETF | $17.97 | 0.00% | — | — | $703K | 0.20% | −146,137 | −79.9% |
| 63 | HEI | HEICO CORP NEW | $331.61 | -2.24% | — | — | $672K | 0.19% | −3,057 | −55.5% |
| 64 | XLI | SELECT SECTOR SPDR TR | $176.18 | 0.59% | — | — | $666K | 0.19% | — | HELD |
| 65 | MPLX | MPLX LP | $56.87 | 0.67% | — | — | $664K | 0.19% | — | HELD |
| 66 | SLVP | ISHARES INC | $32.43 | 3.38% | — | — | $659K | 0.19% | −21,640 | −53.8% |
| 67 | NFLX | NETFLIX INC. | $80.34 | -1.14% | — | — | $606K | 0.17% | — | HELD |
| 68 | GBIL | GOLDMAN SACHS ETF TR | $100.02 | 0.02% | — | — | $604K | 0.17% | −17,296 | −74.1% |
| 69 | XLK | SELECT SECTOR SPDR TR | $184.80 | 0.87% | — | — | $570K | 0.16% | — | HELD |
| 70 | VBIL | VANGUARD INSTL INDEX FD | $75.55 | 0.00% | — | — | $567K | 0.16% | −3,095 | −29.2% |
| 71 | META | META PLATFORMS INC | $566.98 | -0.26% | — | — | $560K | 0.16% | −70 | −6.7% |
| 72 | EWW | ISHARES INC | $78.47 | 1.46% | — | — | $521K | 0.15% | −248 | −3.5% |
| 73 | KMI | KINDER MORGAN INC DEL | $31.94 | 1.85% | — | — | $503K | 0.14% | — | HELD |
| 74 | WPM | WHEATON PRECIOUS METALS CORP | $116.10 | 3.05% | — | — | $498K | 0.14% | — | HELD |
| 75 | PLTR | PALANTIR TECHNOLOGIES INC | $127.99 | -2.36% | — | — | $497K | 0.14% | −1,860 | −35.4% |
| 76 | SCHW | SCHWAB CHARLES CORP | $91.10 | 2.71% | — | — | $480K | 0.14% | −428 | −7.7% |
| 77 | VDE | VANGUARD WORLD FD | $162.34 | 0.77% | — | — | $470K | 0.13% | −75 | −2.7% |
| 78 | BMO | BANK MONTREAL MEDIUM | $168.30 | 1.02% | — | — | $464K | 0.13% | — | HELD |
| 79 | VOO | VANGUARD INDEX FDS | $681.95 | 0.55% | — | — | $442K | 0.12% | −20 | −2.6% |
| 80 | DVA | DAVITA INC | $208.66 | 2.37% | — | — | $432K | 0.12% | +2,808 | NEW |
| 81 | RGLD | ROYAL GOLD INC | $207.57 | 1.47% | — | — | $431K | 0.12% | — | HELD |
| 82 | VGT | VANGUARD WORLD FD | $116.74 | 0.58% | — | — | $426K | 0.12% | — | HELD |
| 83 | BP | BP PLC | $42.78 | 0.23% | — | — | $407K | 0.11% | +8,658 | NEW |
| 84 | GE | GE AEROSPACE | $335.30 | 0.76% | — | — | $387K | 0.11% | −694 | −33.7% |
| 85 | LRCX | LAM RESEARCH CORP | $366.81 | 1.18% | — | — | $383K | 0.11% | −67 | −3.6% |
| 86 | PAAS | PAN AMERN SILVER CORP | $48.14 | 3.46% | — | — | $382K | 0.11% | — | HELD |
| 87 | VONV | VANGUARD SCOTTSDALE FDS | $106.28 | 0.97% | — | — | $354K | 0.10% | — | HELD |
| 88 | MCHI | ISHARES TR | $54.83 | 0.90% | — | — | $351K | 0.10% | −917 | −12.8% |
| 89 | CNI | CANADIAN NATL RY CO | $118.98 | 0.60% | — | — | $351K | 0.10% | +3,414 | NEW |
| 90 | FCX | FREEPORT MCMORAN INC | $68.41 | 3.12% | — | — | $329K | 0.09% | — | HELD |
| 91 | TDG | TRANSDIGM GROUP INC | $1256.05 | -0.12% | — | — | $325K | 0.09% | −2,502 | −89.9% |
| 92 | APD | AIR PRODUCTS AND CHEMICALS I | $281.62 | 1.26% | — | — | $321K | 0.09% | — | HELD |
| 93 | AVGO | BROADCOM INC | $382.07 | -0.91% | — | — | $314K | 0.09% | −33 | −3.2% |
| 94 | TXN | TEXAS INSTRS INC | $301.12 | 1.35% | — | — | $314K | 0.09% | — | HELD |
| 95 | NEE | NEXTERA ENERGY INC | $85.99 | 1.36% | — | — | $312K | 0.09% | — | HELD |
| 96 | NJUL | INNOVATOR ETFS TRUST | $77.12 | 0.17% | — | — | $307K | 0.09% | — | HELD |
| 97 | DHR | DANAHER CORP DEL | $180.10 | -0.38% | — | — | $304K | 0.09% | −67 | −4.0% |
| 98 | VYM | VANGUARD WHITEHALL FDS | $160.33 | 0.80% | — | — | $300K | 0.08% | +12 | +0.6% |
| 99 | DIA | STATE STR SPDR DOW JONES IND | $513.06 | 0.73% | — | — | $283K | 0.08% | — | HELD |
| 100 | OXY | OCCIDENTAL PETE CORP | $56.54 | 1.93% | — | — | $274K | 0.08% | +4,223 | NEW |
| 101 | SPGI | S&P GLOBAL INC | — | — | — | — | $269K | 0.08% | −71 | −10.1% |
| 102 | JNJ | JOHNSON & JOHNSON | — | — | — | — | $263K | 0.07% | −2,000 | −65.0% |
| 103 | DGX | QUEST DIAGNOSTICS INC | — | — | — | — | $254K | 0.07% | +54 | +4.3% |
| 104 | XLF | SELECT SECTOR SPDR TR | — | — | — | — | $251K | 0.07% | — | HELD |
| 105 | JPM | JPMORGAN CHASE & CO | — | — | — | — | $249K | 0.07% | −742 | −46.8% |
| 106 | VWO | VANGUARD INTL EQUITY INDEX F | — | — | — | — | $248K | 0.07% | +81 | +1.8% |
| 107 | NRP | NATURAL RESOURCE PARTNERS LP | — | — | — | — | $242K | 0.07% | — | HELD |
| 108 | BWXT | BWX TECHNOLOGIES INC | — | — | — | — | $240K | 0.07% | +1,172 | NEW |
| 109 | FXF | INVESCO CURRENCYSHARES SWISS | — | — | — | — | $239K | 0.07% | −81,630 | −97.4% |
| 110 | NLR | VANECK ETF TRUST | — | — | — | — | $226K | 0.06% | — | HELD |
| 111 | IGE | ISHARES TR | — | — | — | — | $218K | 0.06% | +3,463 | NEW |
| 112 | ETN | EATON CORP PLC | — | — | — | — | $217K | 0.06% | +608 | NEW |
| 113 | FERG | FERGUSON ENTERPRISES INC | — | — | — | — | $216K | 0.06% | +3 | +0.3% |
| 114 | VIG | VANGUARD SPECIALIZED FUNDS | — | — | — | — | $215K | 0.06% | — | HELD |
| 115 | MA | MASTERCARD INCORPORATED | — | — | — | — | $214K | 0.06% | −150 | −25.9% |
| 116 | TKO | TKO GROUP HOLDINGS INC | — | — | — | — | $212K | 0.06% | −55 | −5.0% |
| 117 | ASHR | DBX ETF TR | — | — | — | — | $212K | 0.06% | — | HELD |
| 118 | AGI | ALAMOS GOLD INC | — | — | — | — | $211K | 0.06% | −600 | −11.2% |
| 119 | XLY | SELECT SECTOR SPDR TR | — | — | — | — | $210K | 0.06% | — | HELD |
| 120 | PG | PROCTER & GAMBLE CO | — | — | — | — | $204K | 0.06% | — | HELD |
| 121 | XLU | SELECT SECTOR SPDR TR | — | — | — | — | $203K | 0.06% | −183,581 | −97.7% |
| 122 | EWG | ISHARES INC | — | — | — | — | — | — | −131,912 | EXITED |
| 123 | INDA | ISHARES TR | — | — | — | — | — | — | −80,150 | EXITED |
| 124 | PHO | INVESCO EXCHANGE TRADED FD T | — | — | — | — | — | — | −57,292 | EXITED |
| 125 | IEF | ISHARES TR | — | — | — | — | — | — | −27,994 | EXITED |
| 126 | VTIP | VANGUARD MALVERN FDS | — | — | — | — | — | — | −46,924 | EXITED |
| 127 | AOR | ISHARES TR | — | — | — | — | — | — | −34,207 | EXITED |
| 128 | BWZ | SPDR SERIES TRUST | — | — | — | — | — | — | −51,535 | EXITED |
| 129 | BX | BLACKSTONE INC | — | — | — | — | — | — | −5,320 | EXITED |
| 130 | B | BARRICK MNG CORP | — | — | — | — | — | — | −17,600 | EXITED |
| 131 | IBIT | ISHARES BITCOIN TRUST ETF | — | — | — | — | — | — | −13,219 | EXITED |
| 132 | BWX | SPDR SERIES TRUST | — | — | — | — | — | — | −26,839 | EXITED |
| 133 | FXE | INVESCO CURRENCYSHARES EURO | — | — | — | — | — | — | −4,959 | EXITED |
| 134 | KWEB | KRANESHARES TRUST | — | — | — | — | — | — | −13,824 | EXITED |
| 135 | QQQM | INVESCO EXCH TRADED FD TR II | — | — | — | — | — | — | −1,660 | EXITED |
| 136 | DMCY | ADVISORS INNER CIRCLE FD III | — | — | — | — | — | — | −11,613 | EXITED |
| 137 | HWM | HOWMET AEROSPACE INC | — | — | — | — | — | — | −1,708 | EXITED |
| 138 | AXP | AMERICAN EXPRESS CO | — | — | — | — | — | — | −882 | EXITED |
| 139 | WCN | WASTE CONNECTIONS INC | — | — | — | — | — | — | −1,817 | EXITED |
| 140 | SA | SEABRIDGE GOLD INC | — | — | — | — | — | — | −10,300 | EXITED |
| 141 | PEP | PEPSICO INC | — | — | — | — | — | — | −2,108 | EXITED |
| 142 | VGUS | VANGUARD INSTL INDEX FD | — | — | — | — | — | — | −3,971 | EXITED |
| 143 | WRB | BERKLEY W R CORP | — | — | — | — | — | — | −4,010 | EXITED |
| 144 | WMT2 | WELLS FARGO CO NEW | — | — | — | — | — | — | −2,746 | EXITED |
| 145 | TTD | THE TRADE DESK INC | — | — | — | — | — | — | −6,168 | EXITED |
| 146 | CNX | CNX RES CORP | — | — | — | — | — | — | −6,340 | EXITED |
| 147 | AON | AON PLC | — | — | — | — | — | — | −660 | EXITED |
| 148 | CPNG | COUPANG INC | — | — | — | — | — | — | −9,566 | EXITED |
| 149 | CG | CARLYLE GROUP INC | — | — | — | — | — | — | −3,805 | EXITED |
| 150 | GRW | TCW ETF TRUST | — | — | — | — | — | — | −6,706 | EXITED |
Source: SEC EDGAR · accession 0001172661-26-002005. 13F discloses long positions only — shorts, foreign equities, and options are excluded.