LCM

Lazari Capital Management Portfolio holdings

AUM $266M

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2

This Quarter Return

+14.29%

1 Year Return

+23.56%

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$266M

AUM Growth

+$266M (+8.6%)

Cap. Flow

-$7.34M

Cap. Flow % of AUM

-2.76%

Top 10 Holdings % Top 10 Hldgs %

55.38%

Holding

163

New

Increased

Reduced

Closed

Top Buys

1	UnitedHealth UNH	$790K
2	Pfizer PFE	$289K
3	GE Vernova GEV	$277K
4	Vanguard Total International Stock ETF VXUS	$266K
5	Trade Desk TTD	$235K

Top Sells

1	Apple AAPL	$1.86M
2	Uber UBER	$1.83M
3	NVIDIA NVDA	$1.48M
4	Meta Platforms (Facebook) META	$790K
5	Amazon AMZN	$676K

Sector Composition

1	Technology	33.05%
2	Communication Services	19.9%
3	Consumer Discretionary	10.59%
4	Financials	7.2%
5	Energy	4.74%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
101	101 iShares Bitcoin Trust IBIT $80.7B	$321K	0.12%	5,250 +556	+12%	+$34K
102	102 iShares US Energy ETF IYE $1.2B	$314K	0.12%	6,950	–	–
103	XYZ 103 Block, Inc. XYZ $48.5B	$310K	0.12%	4,567 -20	-0.4%	-$1.36K
104	104 Direxion Daily S&P 500 Bear 3x Shares SPXS $446M	$309K	0.12%	65,800 +8,800	+15%	+$41.3K
105	105 Alerian MLP ETF AMLP $10.7B	$307K	0.12%	6,280	–	–
106	106 Duke Energy DUK $95.3B	$299K	0.11%	2,533 -12	-0.5%	-$1.42K
107	107 iShares Silver Trust SLV $19.6B	$288K	0.11%	8,783 -169	-2%	-$5.55K
108	108 Vanguard Mega Cap Value ETF MGV $9.87B	$285K	0.11%	2,171	–	–
109	109 Vanguard Large-Cap ETF VV $44.5B	$284K	0.11%	997 +187	+23%	+$53.4K
110	110 Vanguard Small-Cap Value ETF VBR $31.4B	$279K	0.11%	1,430 +261	+22%	+$50.9K
111	111 iShares US Healthcare ETF IYH $2.75B	$278K	0.1%	4,928 -100	-2%	-$5.65K
112	112 GE Vernova GEV $167B	$277K	0.1%	+524	New	+$277K
113	113 Honeywell HON $139B	$273K	0.1%	1,173 -603	-34%	-$140K
114	114 Southern Company SO $102B	$272K	0.1%	2,962 +12	+0.4%	+$1.1K
115	115 Vanguard Growth ETF VUG $185B	$272K	0.1%	619 -3	-0.5%	-$1.32K
116	116 iShares Core MSCI Emerging Markets ETF IEMG $102B	$267K	0.1%	4,440 -135	-3%	-$8.1K
117	117 Vanguard Total International Stock ETF VXUS $102B	$266K	0.1%	+3,845	New	+$266K
118	118 iShares 7-10 Year Treasury Bond ETF IEF $35.7B	$262K	0.1%	2,738 +64	+2%	+$6.13K
119	119 iShares Preferred and Income Securities ETF PFF $14.4B	$252K	0.09%	8,217	–	–
120	120 Kimberly-Clark KMB $42.8B	$250K	0.09%	1,940 -7	-0.4%	-$902
121	121 Xcel Energy XEL $42.8B	$246K	0.09%	3,606 +7	+0.2%	+$477
122	122 iShares MSCI Intl Momentum Factor ETF IMTM $3.19B	$239K	0.09%	5,232 -550	-10%	-$25.1K
123	123 Financial Select Sector SPDR Fund XLF $54.1B	$236K	0.09%	4,514 -174	-4%	-$9.11K
124	124 Trade Desk TTD $26.7B	$235K	0.09%	+3,267	New	+$235K
125	125 Sherwin-Williams SHW $91.2B	$235K	0.09%	683 -4	-0.6%	-$1.37K