AVALON CAPITAL MANAGEMENT — 13F holdings

AVALON CAPITAL MANAGEMENT reported 130 holdings worth $423M in its 13F filing for Q2 2026, filed July 16, 2026.

Largest positions

1. GOOGL ALPHABET INC — $53.9M (12.7%)
2. SMH VANECK ETF TRUST — $31.5M (7.4%)
3. GDX VANECK ETF TRUST — $25.0M (5.9%)
4. GLD SPDR GOLD TR — $23.3M (5.5%)
5. GOOG ALPHABET INC — $22.7M (5.4%)
6. CSCO CISCO SYS INC — $18.0M (4.3%)
7. LLY ELI LILLY & CO — $16.4M (3.9%)
8. AMZN AMAZON COM INC — $15.4M (3.6%)
9. IEMG ISHARES INC — $14.7M (3.5%)
10. AAPL APPLE INC — $13.4M (3.2%)