Invariant Investment Management
CIK 0001850871
Annualised vol
2.066953%
Beta
0.098495
HHI
796.078398
Top-10 weight
74.008153%
VaR 95%
0.179686%
VaR 99%
0.392776%
Max drawdown
3.867388%
Matched value
11.651479%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| AAPL | REDUCED | 4,494 | 4,707 | -4.53% | 1,404,947 |
| MO | REDUCED | 18,974 | 19,277 | -1.57% | 1,363,823 |
| V | ADDED | 3,669 | 3,598 | 1.97% | 1,310,908 |
| CAH | REDUCED | 5,446 | 5,626 | -3.2% | 1,293,624 |
| MA | ADDED | 2,033 | 1,653 | 22.99% | 1,083,625 |
| NVDA | ADDED | 5,535 | 5,527 | 0.14% | 1,082,283 |
| ADBE | ADDED | 4,934 | 4,280 | 15.28% | 1,075,957 |
| MCK | REDUCED | 1,345 | 1,369 | -1.75% | 1,054,457 |
| CL | ADDED | 10,974 | 9,179 | 19.56% | 1,024,890 |
| EQT | REDUCED | 18,434 | 18,492 | -0.31% | 953,233 |
| DPZ | ADDED | 3,008 | 1,882 | 59.83% | 920,298 |
| NTAP | REDUCED | 5,155 | 7,772 | -33.67% | 843,137 |
| ULTA | REDUCED | 1,790 | 1,805 | -0.83% | 809,844 |
| LULU | ADDED | 6,432 | 3,509 | 83.3% | 743,796 |
| JNJ | ADDED | 2,680 | 2,634 | 1.75% | 694,994 |
| TSLA | UNCHANGED | 1,634 | 1,634 | 0.0% | 685,904 |
| LII | REDUCED | 1,184 | 1,317 | -10.1% | 672,553 |
| PM | REDUCED | 2,328 | 3,586 | -35.08% | 430,048 |
| MSFT | ADDED | 979 | 877 | 11.63% | 378,588 |
| ABBV | REDUCED | 1,396 | 1,472 | -5.16% | 355,688 |
| TDG | UNCHANGED | 249 | 249 | 0.0% | 335,468 |
| PPL | ADDED | 8,810 | 8,749 | 0.7% | 318,117 |
| PG | ADDED | 1,878 | 1,873 | 0.27% | 280,366 |
| HSY | ADDED | 1,465 | 1,455 | 0.69% | 260,048 |
| CVX | ADDED | 1,526 | 1,492 | 2.28% | 256,494 |
| GOOGL | REDUCED | 657 | 692 | -5.06% | 240,936 |
| KLAC | CLOSED OUT | 0 | 421 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| - | INVESCO EXCHANGE TRADED FD T | S&P500 EQL WGT | 46137V357 | 26,491,998 | 15.53 | 123219.0 | |
| - | ISHARES TR | 7-10 YR TRSY BD | 464287440 | 26,224,782 | 15.37 | 278454.0 | |
| - | AMERICAN CENTY ETF TR | US SML CP VALU | 025072877 | 18,584,864 | 10.9 | 150096.0 | |
| - | AMERICAN CENTY ETF TR | INTL SMCP VLU | 025072802 | 15,964,730 | 9.36 | 150938.0 | |
| - | ISHARES TR | 1 3 YR TREAS BD | 464287457 | 8,771,402 | 5.14 | 106994.0 | |
| - | VANGUARD INDEX FDS | S&P 500 ETF SHS | 922908363 | 8,103,939 | 4.75 | 11734.0 | |
| - | AMERICAN CENTY ETF TR | AVANTIS EMGMKT | 025072604 | 7,104,258 | 4.16 | 74538.0 | |
| - | ISHARES TR | 0-3 MTH TREASURY | 46436E718 | 5,998,980 | 3.52 | 59727.0 | |
| - | ISHARES TR | MSCI USA MIN ETF | 46429B697 | 5,076,872 | 2.98 | 51863.0 | |
| - | J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 | 3,914,504 | 2.29 | 77592.0 | |
| - | AMERICAN CENTY ETF TR | US EQT ETF | 025072885 | 3,014,253 | 1.77 | 23562.0 | |
| - | J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 | 2,898,003 | 1.7 | 56902.0 | |
| - | INVESCO EXCH TRD SLF IDX FD | BULSHS 2028 MUNI | 46138J486 | 2,664,679 | 1.56 | 113415.0 | |
| - | ISHARES TR | MBS ETF | 464288588 | 1,883,328 | 1.1 | 19976.0 | |
| AAPL | REDUCED | APPLE INC | COM | 037833100 | 1,404,947 | 0.82 | 4494.0 |
| MO | REDUCED | ALTRIA GROUP INC | COM | 02209S103 | 1,363,823 | 0.8 | 18974.0 |
| V | ADDED | VISA INC | COM CL A | 92826C839 | 1,310,908 | 0.77 | 3669.0 |
| CAH | REDUCED | CARDINAL HEALTH INC | COM | 14149Y108 | 1,293,624 | 0.76 | 5446.0 |
| - | ISHARES TR | CORE US AGGBD ET | 464287226 | 1,144,539 | 0.67 | 11601.0 | |
| - | WW GRAINGER INC | COM | 384802104 | 1,142,220 | 0.67 | 834.0 | |
| MA | ADDED | MASTERCARD INCORPORATED | CL A | 57636Q104 | 1,083,625 | 0.64 | 2033.0 |
| NVDA | ADDED | NVIDIA CORPORATION | COM | 67066G104 | 1,082,283 | 0.63 | 5535.0 |
| ADBE | ADDED | ADOBE INC | COM | 00724F101 | 1,075,957 | 0.63 | 4934.0 |
| MCK | REDUCED | MCKESSON CORP | COM | 58155Q103 | 1,054,457 | 0.62 | 1345.0 |
| CL | ADDED | COLGATE PALMOLIVE CO | COM | 194162103 | 1,024,890 | 0.6 | 10974.0 |
| EQT | REDUCED | EQT CORP | COM | 26884L109 | 953,233 | 0.56 | 18434.0 |
| DPZ | ADDED | DOMINOS PIZZA INC | COM | 25754A201 | 920,298 | 0.54 | 3008.0 |
| - | EOG RES INC | COM | 26875P101 | 884,018 | 0.52 | 6832.0 | |
| - | OREILLY AUTOMOTIVE INC | COM | 67103H107 | 860,617 | 0.5 | 10216.0 | |
| - | SPDR SERIES TRUST | ST STR BLO 1 ETF | 78468R663 | 857,199 | 0.5 | 9375.0 | |
| NTAP | REDUCED | NETAPP INC | COM | 64110D104 | 843,137 | 0.49 | 5155.0 |
| ULTA | REDUCED | ULTA BEAUTY INC | COM | 90384S303 | 809,844 | 0.47 | 1790.0 |
| LULU | ADDED | LULULEMON ATHLETICA INC | COM | 550021109 | 743,796 | 0.44 | 6432.0 |
| - | APOLLO GLOBAL MGMT INC | COM | 03769M106 | 729,554 | 0.43 | 5972.0 | |
| JNJ | ADDED | JOHNSON & JOHNSON | COM | 478160104 | 694,994 | 0.41 | 2680.0 |
| - | LOWES COS INC | COM | 548661107 | 694,121 | 0.41 | 3102.0 | |
| - | BANK OF NY MELLON CORP | COM | 064058100 | 692,233 | 0.41 | 4616.0 | |
| TSLA | UNCHANGED | TESLA INC | COM | 88160R101 | 685,904 | 0.4 | 1634.0 |
| LII | REDUCED | LENNOX INTL INC | COM | 526107107 | 672,553 | 0.39 | 1184.0 |
| - | INVESCO EXCHANGE TRADED FD T | S&P500 QUALITY | 46137V241 | 584,189 | 0.34 | 6600.0 | |
| - | ISHARES TR | CORE S&P US VLU | 464287663 | 563,063 | 0.33 | 5032.0 | |
| - | SPROTT ASSET MANAGEMENT LP | PHYSICAL GOLD TR | 85207H104 | 498,634 | 0.29 | 15875.0 | |
| - | VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 | 474,191 | 0.28 | 1276.0 | |
| - | INVESCO EXCHANGE TRADED FD T | RAFI US 1500 | 46137V597 | 441,521 | 0.26 | 8000.0 | |
| PM | REDUCED | PHILIP MORRIS INTL INC | COM | 718172109 | 430,048 | 0.25 | 2328.0 |
| - | CAESARS ENTERTAINMENT INC NE | COM | 12769G100 | 412,496 | 0.24 | 13686.0 | |
| - | INVESCO EXCH TRD SLF IDX FD | BULLETSHS 32 MUN | 46139W833 | 410,518 | 0.24 | 16316.0 | |
| - | INVESCO EXCH TRD SLF IDX FD | BULSHS 2029 MUNI | 46138J478 | 388,568 | 0.23 | 16869.0 | |
| - | SPDR GOLD TR | GOLD SHS | 78463V107 | 386,333 | 0.23 | 1011.0 | |
| MSFT | ADDED | MICROSOFT CORP | COM | 594918104 | 378,588 | 0.22 | 979.0 |
| - | VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 | 359,162 | 0.21 | 4555.0 | |
| ABBV | REDUCED | ABBVIE INC | COM | 00287Y109 | 355,688 | 0.21 | 1396.0 |
| - | VANECK ETF TRUST | JP MRGAN EM LOC | 92189H300 | 338,849 | 0.2 | 13241.0 | |
| TDG | UNCHANGED | TRANSDIGM GROUP INC | COM | 893641100 | 335,468 | 0.2 | 249.0 |
| PPL | ADDED | PPL CORP | COM | 69351T106 | 318,117 | 0.19 | 8810.0 |
| - | VICTORY PORTFOLIOS II | VICSHS DV AC ETF | 92647N667 | 304,669 | 0.18 | 5160.0 | |
| PG | ADDED | PROCTER & GAMBLE CO | COM | 742718109 | 280,366 | 0.16 | 1878.0 |
| - | VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 | 275,483 | 0.16 | 3767.0 | |
| - | ISHARES TR | MSCI EAFE MIN VL | 46429B689 | 265,667 | 0.16 | 2976.0 | |
| HSY | ADDED | HERSHEY CO | COM | 427866108 | 260,048 | 0.15 | 1465.0 |
| CVX | ADDED | CHEVRON CORPORATION | COM | 166764100 | 256,494 | 0.15 | 1526.0 |
| - | INVESCO EXCH TRD SLF IDX FD | BULSHS 2027 MUNI | 46138J494 | 252,782 | 0.15 | 10688.0 | |
| - | VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | 244,131 | 0.14 | 4064.0 | |
| GOOGL | REDUCED | ALPHABET INC | CAP STK CL A | 02079K305 | 240,936 | 0.14 | 657.0 |
| - | VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 | 222,452 | 0.13 | 3828.0 | |
| - | DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 | 215,558 | 0.13 | 3090.0 | |
| - | VANGUARD INDEX FDS | VALUE ETF | 922908744 | 200,788 | 0.12 | 915.0 | |
| - | WABASH NATL CORP | COM | 929566107 | 156,668 | 0.09 | 12051.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-07-08 | 170,570,841 | 68 | 2.066953 | 0.098495 | 3.867388 |
| 2026-03-31 | 2026-04-13 | 162,440,597 | 70 | 2.144021 | 0.101606 | 3.927541 |
| 2025-12-31 | 2026-01-26 | 156,238,014 | 71 | 2.38429 | 0.114509 | 4.415198 |