☆Forty-three Eighteen Advisors, LLC
Quality Q
0.095
AUM ($M)
149
Positions
74
Turnover
0.26
Top-10 wt
49%
Herfindahl
0.034
History (qtrs)
3
Excess Return
not eligible
AI Eval done Re-run AI Eval
Response
Bottom Line (5 bullets)
- Reportable sleeve rotated sharply into cash/ultra-short bonds (FTSM +6.6% wt) and semiconductors (AMD, AMKR, ON, TXN, SMCI, LRCX, MKSI new), while liquidating clean energy (FAN, QCLN), materials (FCX, ALB), energy (CVX), and international (RBLD) thematic sleeves.
- Buffered equity ETFs (Innovator defined-outcome series) remain the single largest strategy block (~18% combined) but were modestly trimmed; core equity exposure compressed into WMT, CAT, SPY, and a few mega-caps.
- Turnover was high in name count (20 exits, 18 new) but low in share-adjusted terms for core holdings; the only high-conviction share moves were FTSM (massive add), WMT (large trim), and the unidentified CUSIP:30231G102 (large trim).
- No short positions, derivatives (except leveraged TSLL, now exited), foreign ordinaries, or private assets appear; the sleeve is long-only US-listed equities/ETFs with a heavy structured-product overlay.
- With only two quarters of data (one flow quarter), every “strategy” inference is a single-rebalance snapshot — not a persistent style. Next filing will determine if the FTSM surge is a permanent cash raise or a temporary parking trade.
1. Portfolio Vital Signs (Verified — computed from reported weights)
| Metric | 2026Q1 (Baseline) | 2026Q2 | Δ QoQ |
|---|---|---|---|
| Positions reported (rows) | 95 | 95 | 0 |
| Active positions (wt > 0) | 80 | 75 | -5 |
| Gross sleeve value | Unknown (weights sum to 100%) | Unknown | Cannot compute — no AUM |
| Top-5 weight | 29.95% (WMT, SPY, CAT, PJAN, JPM) | 30.40% (WMT, FTSM, CAT, SPY, PJAN) | +0.45 pp |
| Top-10 weight | 41.06% | 45.35% | +4.29 pp |
| HHI (Σwt²/100) | 842 | 1,087 | +245 (↑ concentration) |
| Names >5% wt | 1 (WMT) | 4 (WMT, FTSM, CAT, SPY) | +3 |
Formulas:
- Top-N weight = Σ_{i=1..N} weight_pct(i)
- HHI = (1/100) × Σ weight_pct(i)² (so 10,000 = single position)
- Active count = rows with weight_pct > 0
Interpretation: Concentration jumped meaningfully. The sleeve is now anchored by four >5% positions (WMT, FTSM, CAT, SPY) vs. one previously. HHI rise confirms fewer, larger bets.
2. Turnover Proxy (Inferred — low confidence, no prices/share counts)
| Component | Calculation | Value |
|---|---|---|
| Σ|Δshares| × Q2-end price | Cannot compute — missing share counts & prices | N/A |
| Avg sleeve value (Q1+Q2)/2 | Unknown | N/A |
| Turnover proxy (lower bound) | Requires prices | Not provided |
Data gap: 13F reports only Δshares, not absolute shares or prices. Without them, Σ|Δshares|×P cannot be separated from price drift. All conviction rankings below rely on Δshares only (Verified for sign/magnitude of share change, Speculative for dollar conviction).
3. Sub-Sector Buckets & Bridge (Verified weights, Inferred mapping)
Mapping rule: Ticker → sub-sector by primary business/ETF mandate. CUSIPs left as “Unidentified”. Buffered ETFs (PJAN, PFEB, PMAR?, PAPR, PJUL, PAUG, PSEP, POCT, PNOV, PDEC, NJAN, JULW, MARW, AUGW, OCTW) grouped as “Buffered Equity” (defined-outcome, downside-buffer/capped-upside).
Bridge: Opening wt (Q1) → Flow (Δshares×price, unknown) → Price Δ (residual) → Closing wt (Q2). Since price Δ unknown, bridge shows weight change only.
| Sub-Sector | Q1 Wt% | Q2 Wt% | Δ Wt pp | Key Flow Actions (Δshares) | Macro Assumption Required |
|---|---|---|---|---|---|
| Buffered Equity | 18.66 | 17.83 | -0.83 | PJAN -100, OCTW -415, MARW -600, PJUL -500; others HOLD | Low-vol equity with downside floor outperforms in range-bound/down markets |
| Ultra-Short Bonds / Cash | 0.83 | 7.30 | +6.47 | FTSM +164,291 (massive), BIL HOLD | Rates peak → carry + optionality; defensive liquidity bucket |
| Semiconductors / Semi-Cap | 6.16 | 12.28 | +6.12 | AMD +6,620 (NEW), AMKR +6,025 (NEW), ON +6,151 (NEW), TXN +6,534 (NEW), LRCX +670 (NEW), MKSI +864 (NEW), SMCI +24,994 (NEW), TER -40, MPWR -40, AMAT -100, NVDA -546, CIEN -18, ENTG -5,798 (EXIT) | AI capex cycle broadens beyond NVDA; semi cycle troughing |
| Broad Equity (Index) | 11.70 | 11.98 | +0.28 | SPY -15, VOO HOLD, QQQ HOLD, RSP HOLD | Beta exposure maintained via core indices |
| Industrials / Capital Goods | 7.75 | 8.72 | +0.97 | CAT +2, EME -5, GE -6,372 (EXIT), JBHT HOLD, R HOLD | Reshoring / infrastructure spend resilient |
| Healthcare | 5.24 | 5.00 | -0.24 | JNJ HOLD, MRK +548, UNH +2,019 (NEW), CVS -5,500 (EXIT), NHI -24,791 (EXIT), VTR -51 | Defensive demographics; managed-care & pharma over hospitals/REITs |
| Financials | 5.17 | 4.42 | -0.75 | JPM -11,424, BEN HOLD, BX +2,525 (NEW), IBKR +2,945 (NEW), PFG +12,471 (NEW), RITM HOLD, ABR -10,000 (EXIT) | Rate sensitivity trimmed; diversifying into alt-asset mgrs & brokers |
| Consumer Staples | 11.69 | 8.42 | -3.27 | WMT -23,991, ADM +12,199 | WMT trim = single largest share reduction; ADM add = ag-input hedge |
| Clean Energy / Thematic | 2 |
Holdings · 95 positions · portfolio value $149M
| Ticker | Name | Activity | Security Type | Weight | Δ Weight | Value ($M) | Shares | Δ Shares | Qtrs Held | Excess Return |
|---|---|---|---|---|---|---|---|---|---|---|
| ☆WMT funds › | WALMART INC | TRIM | — | 7.0% | -3.9% | 10.5 | 92,326 | -23,991 | 2 | — |
| ☆FTSM funds › | FIRST TR EXCHANGE-TRADED FD | ADD | — | 6.9% | +6.6% | 10.2 | 170,876 | +164,291 | 2 | — |
| ☆CAT funds › | CATERPILLAR INC | ADD | — | 6.6% | +1.7% | 9.9 | 9,275 | +2 | 2 | — |
| ☆AAPL funds › | APPLE INC | ADD | — | 6.1% | +0.1% | 9.1 | 31,321 | +3 | 2 | — |
| ☆SPY funds › | STATE STR SPDR S&P 500 ETF T | TRIM | — | 5.1% | +0.1% | 7.6 | 10,192 | -15 | 2 | — |
| ☆AMAT funds › | APPLIED MATLS INC | TRIM | — | 4.7% | +2.2% | 7.0 | 9,720 | -100 | 2 | — |
| ☆PJAN funds › | INNOVATOR ETFS TRUST | TRIM | — | 4.7% | -0.2% | 7.0 | 141,858 | -100 | 2 | — |
| ☆OCTW funds › | AIM ETF PRODUCTS TRUST | TRIM | — | 3.2% | -0.2% | 4.8 | 117,113 | -415 | 2 | — |
| ☆AMD funds › | ADVANCED MICRO DEVICES INC | NEW | — | 2.6% | +2.6% | 3.8 | 6,620 | +6,620 | 1 | — |
| ☆R funds › | RYDER SYS INC | HOLD | — | 2.2% | +0.3% | 3.3 | 12,592 | +0 | 2 | — |
| ☆MSFT funds › | MICROSOFT CORP | ADD | — | 2.2% | -0.2% | 3.3 | 8,864 | +10 | 2 | — |
| ☆TER funds › | TERADYNE INC | TRIM | — | 2.2% | +0.7% | 3.3 | 6,796 | -40 | 2 | — |
| ☆CIEN funds › | CIENA CORP | TRIM | — | 2.2% | +0.2% | 3.3 | 6,673 | -18 | 2 | — |
| ☆JNJ funds › | JOHNSON & JOHNSON | HOLD | — | 2.1% | -0.2% | 3.2 | 12,555 | +0 | 2 | — |
| ☆MRK funds › | MERCK & CO INC | ADD | — | 1.9% | -0.0% | 2.9 | 22,442 | +548 | 2 | — |
| ☆BND funds › | VANGUARD BD INDEX FDS | TRIM | — | 1.9% | -0.3% | 2.8 | 38,464 | -526 | 2 | — |
| ☆GOOGL funds › | ALPHABET INC | TRIM | — | 1.6% | +0.2% | 2.4 | 6,818 | -57 | 2 | — |
| ☆JPM funds › | JPMORGAN CHASE & CO | TRIM | — | 1.6% | -2.5% | 2.4 | 7,437 | -11,424 | 2 | — |
| ☆BEN funds › | FRANKLIN RESOURCES INC | HOLD | — | 1.5% | +0.3% | 2.2 | 66,901 | +0 | 2 | — |
| ☆EIX funds › | EDISON INTL | NEW | — | 1.4% | +1.4% | 2.1 | 27,960 | +27,960 | 1 | — |
| ☆ADM funds › | ARCHER DANIELS MIDLAND CO | ADD | — | 1.4% | +0.6% | 2.1 | 26,921 | +12,199 | 2 | — |
| ☆NJAN funds › | INNOVATOR ETFS TRUST | HOLD | — | 1.4% | -0.0% | 2.0 | 34,569 | +0 | 2 | — |
| ☆CUSIP:45782C334 funds › | INNOVATOR ETFS TRUST | HOLD | — | 1.4% | -0.0% | 2.0 | 34,166 | +0 | 2 | — |
| ☆MPWR funds › | MONOLITHIC PWR SYS INC | TRIM | — | 1.4% | +0.1% | 2.0 | 1,459 | -40 | 2 | — |
| ☆QQQ funds › | INVESCO QQQ TR | HOLD | — | 1.3% | +0.2% | 2.0 | 2,694 | +0 | 2 | — |
| ☆TXN funds › | TEXAS INSTRS INC | NEW | — | 1.3% | +1.3% | 1.9 | 6,534 | +6,534 | 1 | — |
| ☆MARW funds › | AIM ETF PRODUCTS TRUST | TRIM | — | 1.2% | -0.1% | 1.8 | 51,209 | -600 | 2 | — |
| ☆CUSIP:30231G102 funds › | EXXON MOBIL CORP | TRIM | — | 1.2% | -1.7% | 1.7 | 12,645 | -9,824 | 2 | — |
| ☆POCT funds › | INNOVATOR ETFS TRUST | HOLD | — | 1.2% | -0.0% | 1.7 | 37,041 | +0 | 2 | — |
| ☆NVDA funds › | NVIDIA CORPORATION | TRIM | — | 1.1% | -0.0% | 1.7 | 8,297 | -546 | 2 | — |
| ☆TRGP funds › | TARGA RES CORP | NEW | — | 1.1% | +1.1% | 1.7 | 6,173 | +6,173 | 1 | — |
| ☆FV funds › | FIRST TR EXCHANGE TRADED FD | HOLD | — | 1.1% | +0.1% | 1.6 | 21,718 | +0 | 2 | — |
| ☆ETR funds › | ENTERGY CORP NEW | TRIM | — | 1.0% | -0.1% | 1.5 | 13,458 | -80 | 2 | — |
| ☆VTR funds › | VENTAS INC | TRIM | — | 1.0% | -0.0% | 1.5 | 16,894 | -51 | 2 | — |
| ☆PDEC funds › | INNOVATOR ETFS TRUST | HOLD | — | 0.9% | -0.0% | 1.3 | 29,324 | +0 | 2 | — |
| ☆PFG funds › | PRINCIPAL FINANCIAL GROUP IN | NEW | — | 0.9% | +0.9% | 1.3 | 12,471 | +12,471 | 1 | — |
| ☆JULW funds › | AIM ETF PRODUCTS TRUST | HOLD | — | 0.8% | -0.0% | 1.1 | 27,827 | +0 | 2 | — |
| ☆AROW funds › | ARROW FINL CORP | NEW | — | 0.7% | +0.7% | 1.1 | 26,826 | +26,826 | 1 | — |
| ☆PJUL funds › | INNOVATOR ETFS TRUST | TRIM | — | 0.7% | -0.1% | 1.1 | 22,464 | -500 | 2 | — |
| ☆EME funds › | EMCOR GROUP INC | TRIM | — | 0.7% | +0.0% | 1.1 | 1,273 | -5 | 2 | — |
| ☆PFEB funds › | INNOVATOR ETFS TRUST | HOLD | — | 0.7% | -0.0% | 1.0 | 23,296 | +0 | 2 | — |
| ☆FEBW funds › | AIM ETF PRODUCTS TRUST | HOLD | — | 0.6% | -0.0% | 0.9 | 26,417 | +0 | 2 | — |
| ☆FANG funds › | DIAMONDBACK ENERGY INC | NEW | — | 0.6% | +0.6% | 0.9 | 5,276 | +5,276 | 1 | — |
| ☆UNH funds › | UNITEDHEALTH GROUP INC | NEW | — | 0.6% | +0.6% | 0.8 | 2,019 | +2,019 | 1 | — |
| ☆PAPR funds › | INNOVATOR ETFS TRUST | HOLD | — | 0.5% | -0.0% | 0.8 | 18,676 | +0 | 2 | — |
| ☆SMCI funds › | SUPER MICRO COMPUTER INC | NEW | — | 0.5% | +0.5% | 0.7 | 24,994 | +24,994 | 1 | — |
| ☆RITM funds › | RITHM CAPITAL CORP | HOLD | — | 0.5% | -0.1% | 0.7 | 74,272 | +0 | 2 | — |
| ☆RSP funds › | INVESCO EXCHANGE TRADED FD T | HOLD | — | 0.4% | -0.0% | 0.6 | 2,973 | +0 | 2 | — |
| ☆ON funds › | ON SEMICONDUCTOR CORP | NEW | — | 0.4% | +0.4% | 0.6 | 6,151 | +6,151 | 1 | — |
| ☆AMKR funds › | AMKOR TECHNOLOGY INC | NEW | — | 0.3% | +0.3% | 0.5 | 6,025 | +6,025 | 1 | — |
| ☆PNOV funds › | INNOVATOR ETFS TRUST | HOLD | — | 0.3% | -0.0% | 0.5 | 11,233 | +0 | 2 | — |
| ☆JBHT funds › | HUNT J B TRANS SVCS INC | HOLD | — | 0.3% | +0.1% | 0.5 | 1,562 | +0 | 2 | — |
| ☆AMZN funds › | AMAZON COM INC | HOLD | — | 0.3% | +0.0% | 0.5 | 1,895 | +0 | 2 | — |
| ☆CSCO funds › | CISCO SYS INC | NEW | — | 0.3% | +0.3% | 0.4 | 3,511 | +3,511 | 1 | — |
| ☆MKSI funds › | MKS INC. | NEW | — | 0.3% | +0.3% | 0.4 | 864 | +864 | 1 | — |
| ☆VOO funds › | VANGUARD INDEX FDS | HOLD | — | 0.3% | +0.0% | 0.4 | 556 | +0 | 2 | — |
| ☆CRWD funds › | CROWDSTRIKE HLDGS INC | NEW | — | 0.2% | +0.2% | 0.3 | 458 | +458 | 1 | — |
| ☆CUSIP:45782C383 funds › | INNOVATOR ETFS TRUST | HOLD | — | 0.2% | -0.0% | 0.3 | 6,657 | +0 | 2 | — |
| ☆JBL funds › | JABIL INC | HOLD | — | 0.2% | +0.0% | 0.3 | 799 | +0 | 2 | — |
| ☆AUGW funds › | AIM ETF PRODUCTS TRUST | HOLD | — | 0.2% | -0.0% | 0.3 | 9,000 | +0 | 2 | — |
| ☆BX funds › | BLACKSTONE INC | NEW | — | 0.2% | +0.2% | 0.3 | 2,525 | +2,525 | 1 | — |
| ☆BIL funds › | SPDR SERIES TRUST | HOLD | — | 0.2% | -0.0% | 0.3 | 3,202 | +0 | 2 | — |
| ☆RDVI funds › | FIRST TR EXCHANGE-TRADED FD | HOLD | — | 0.2% | +0.0% | 0.3 | 9,918 | +0 | 2 | — |
| ☆LRCX funds › | LAM RESEARCH CORP | NEW | — | 0.2% | +0.2% | 0.3 | 670 | +670 | 1 | — |
| ☆CASY funds › | CASEYS GEN STORES INC | TRIM | — | 0.2% | -0.0% | 0.3 | 332 | -74 | 2 | — |
| ☆IBKR funds › | INTERACTIVE BROKERS GROUP IN | NEW | — | 0.2% | +0.2% | 0.3 | 2,945 | +2,945 | 1 | — |
| ☆WDC funds › | WESTERN DIGITAL CORP | NEW | — | 0.2% | +0.2% | 0.3 | 399 | +399 | 1 | — |
| ☆APRW funds › | AIM ETF PRODUCTS TRUST | HOLD | — | 0.2% | -0.0% | 0.2 | 6,622 | +0 | 2 | — |
| ☆SIXO funds › | AIM ETF PRODUCTS TRUST | HOLD | — | 0.2% | -0.0% | 0.2 | 6,800 | +0 | 2 | — |
| ☆PSEP funds › | INNOVATOR ETFS TRUST | HOLD | — | 0.2% | -0.0% | 0.2 | 5,000 | +0 | 2 | — |
| ☆SCHL funds › | SCHOLASTIC CORP | NEW | — | 0.1% | +0.1% | 0.2 | 4,587 | +4,587 | 1 | — |
| ☆PAUG funds › | INNOVATOR ETFS TRUST | TRIM | — | 0.1% | -0.0% | 0.2 | 4,528 | -700 | 2 | — |
| ☆UTG funds › | REAVES UTIL INCOME FD | NEW | — | 0.1% | +0.1% | 0.2 | 5,033 | +5,033 | 1 | — |
| ☆DBO funds › | INVESCO DB MULTI-SECTOR COMM | HOLD | — | 0.1% | -0.0% | 0.2 | 11,270 | +0 | 2 | — |
| ☆CARZ funds › | FIRST TR EXCHANGE-TRADED FD | EXIT | — | 0.0% | -1.3% | 0.0 | 0 | -21,916 | 0 | — |
| ☆CVX funds › | CHEVRON CORPORATION | EXIT | — | 0.0% | -2.0% | 0.0 | 0 | -12,747 | 0 | — |
| ☆APH funds › | AMPHENOL CORP | EXIT | — | 0.0% | -1.1% | 0.0 | 0 | -11,889 | 0 | — |
| ☆ENTG funds › | ENTEGRIS INC | EXIT | — | 0.0% | -0.5% | 0.0 | 0 | -5,798 | 0 | — |
| ☆FAN funds › | FIRST TR EXCHANGE-TRADED FD | EXIT | — | 0.0% | -1.2% | 0.0 | 0 | -62,638 | 0 | — |
| ☆QCLN funds › | FIRST TR EXCHANGE-TRADED FD | EXIT | — | 0.0% | -1.1% | 0.0 | 0 | -31,916 | 0 | — |
| ☆ALB funds › | ALBEMARLE CORP | EXIT | — | 0.0% | -1.0% | 0.0 | 0 | -7,063 | 0 | — |
| ☆PLTR funds › | PALANTIR TECHNOLOGIES INC | EXIT | — | 0.0% | -0.2% | 0.0 | 0 | -1,682 | 0 | — |
| ☆GE funds › | GE AEROSPACE | EXIT | — | 0.0% | -1.4% | 0.0 | 0 | -6,372 | 0 | — |
| ☆NHI funds › | NATIONAL HEALTH INVS INC | EXIT | — | 0.0% | -1.5% | 0.0 | 0 | -24,791 | 0 | — |
| ☆FBT funds › | FIRST TR EXCHANGE-TRADED FD | EXIT | — | 0.0% | -1.0% | 0.0 | 0 | -6,299 | 0 | — |
| ☆CUSIP:02462A104 funds › | AMERICAN BITCOIN CORP. | EXIT | — | 0.0% | -0.0% | 0.0 | 0 | -20,000 | 0 | — |
| ☆TSLL funds › | DIREXION SHARES ETF TRUST | EXIT | — | 0.0% | -0.1% | 0.0 | 0 | -10,000 | 0 | — |
| ☆FCX funds › | FREEPORT MCMORAN INC | EXIT | — | 0.0% | -0.8% | 0.0 | 0 | -17,088 | 0 | — |
| ☆BMNR funds › | BITMINE IMMERSION TECNOLOGIE | EXIT | — | 0.0% | -0.3% | 0.0 | 0 | -18,100 | 0 | — |
| ☆NFLX funds › | NETFLIX INC. | EXIT | — | 0.0% | -0.3% | 0.0 | 0 | -4,209 | 0 | — |
| ☆RBLD funds › | FIRST TR EXCHANGE-TRADED FD | EXIT | — | 0.0% | -1.4% | 0.0 | 0 | -22,163 | 0 | — |
| ☆ABR funds › | ARBOR REALTY TRUST INC | EXIT | — | 0.0% | -0.1% | 0.0 | 0 | -10,000 | 0 | — |
| ☆DAN funds › | DANA INC | EXIT | — | 0.0% | -0.2% | 0.0 | 0 | -6,428 | 0 | — |
| ☆IDCC funds › | INTERDIGITAL INC | EXIT | — | 0.0% | -0.2% | 0.0 | 0 | -788 | 0 | — |
| ☆CVS funds › | CVS HEALTH CORP | EXIT | — | 0.0% | -0.3% | 0.0 | 0 | -5,500 | 0 | — |
Point-in-time history
| Period | AUM ($M) | Positions | Turnover | Top-10 wt | Herfindahl | Quality Q | Skill | Universe |
|---|---|---|---|---|---|---|---|---|
| 2026Q2 | 149 | 74 | 0.26 | 49% | 0.034 | 0.096 | — | in |
| 2026Q1 | 133 | 75 | 0.23 | 47% | 0.034 | 0.111 | — | entered |
| 2025Q4 | 129 | 73 | 0.00 | 49% | 0.035 | 0.000 | — | out |
Long US-equity 13F disclosures only · up to 45-day reporting lag · sells = reduce/avoid, not short.
JSON: /api/signals ·
/api/funds ·
/api/status