1y return−6.5%S&P 500 +20.9%
3y return+18.0%S&P 500 +68.5%
5y return+15.4%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2021: $115 against $174 in the S&P 500.2
Refined Wealth ManagementS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| VEAVanguard Tax-managed Fds | $20.0M | 12.1% | |
| QQQInvesco Qqq Tr | $17.0M | 10.2% | |
| RSPInvesco Exchange Traded Fd T | $14.0M | 8.5% | |
| COINCoinbase Global Inc | $8.6M | 5.2% | |
| PYLDPimco Etf Tr | $8.4M | 5.1% | +2.4% |
| BITBBitwise Bitcoin Etf Tr | $8.0M | 4.8% | +2.3% |
| VTVVanguard Index Fds | $8.0M | 4.8% | |
| EMXCIshares Inc | $7.9M | 4.8% | |
| BINCBlackrock Etf Trust II | $7.9M | 4.8% | +2.0% |
| CVXChevron Corporation | $7.5M | 4.5% | +1.2% |
| GLDSpdr Gold Tr | $6.3M | 3.8% | |
| MPCMarathon Pete Corp | $6.2M | 3.7% | −3.1% |
| JPIBJ P Morgan Exchange Traded F | $5.8M | 3.5% | +2.4% |
| SCHRSchwab Strategic Tr | $5.8M | 3.5% | +2.2% |
| ENVXEnovix Corporation | $5.1M | 3.1% | −1.1% |
| PICKIshares Inc | $4.6M | 2.8% | +1.9% |
| REMXVaneck Etf Trust | $3.4M | 2.1% | +1.1% |
| XMMOInvesco Exchange Traded Fd T | $2.8M | 1.7% | |
| AVUVAmerican Centy Etf Tr | $2.7M | 1.7% | |
| NXHBed Bath & Beyond Inc | $2.4M | 1.5% | |
| XRPBitwise Xrp Etf | $1.8M | 1.1% | +3.4% |
| VOOVanguard Index Fds | $1.0M | 0.6% | −1.0% |
| NVDANvidia Corporation | $966K | 0.6% | |
| NULGNushares Etf Tr | $857K | 0.5% | −5.4% |
| FTSMFirst Tr Exchange-traded Fd | $849K | 0.5% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2023 | +373.0% | $966K |
| COINCoinbase Global Inc | June 30, 2022 | +210.9% | $8.6M |
| GLDSpdr Gold Tr | June 30, 2021 | +122.4% | $6.3M |
| AAPLApple Inc | June 30, 2021 | +111.3% | $841K |
| NULGNushares Etf Tr | March 31, 2022 | +92.8% | $857K |
| VOOVanguard Index Fds | June 30, 2021 | +74.5% | $1.0M |
| BRK/BBerkshire Hathaway Inc Del | December 31, 2022 | +62.0% | $349K |
| QQQInvesco Qqq Tr | March 31, 2025 | +57.0% | $17.0M |
| AMZNAmazon Com Inc | June 30, 2021 | +38.6% | $695K |
| VOVanguard Index Fds | June 30, 2021 | +35.8% | $340K |
Sold off last quarter
- SUSAIshares Tr was $236K
- CCJCameco Corp was $212K
- Exxon Mobil CorpCUSIP 30231G102 was $208K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +4.4% | +14.8% |
| March 31, 2026 | −5.9% | −4.6% |
| December 31, 2025 | −8.4% | +2.4% |
| September 30, 2025 | +4.0% | +7.8% |
| June 30, 2025 | +17.0% | +10.5% |
| March 31, 2025 | −5.1% | −4.6% |
| December 31, 2024 | +1.5% | +2.1% |
| September 30, 2024 | −0.7% | +5.4% |
| June 30, 2024 | −3.9% | +4.0% |
| March 31, 2024 | +7.9% | +10.0% |
| December 31, 2023 | +14.7% | +11.2% |
| September 30, 2023 | −5.2% | −3.6% |
| June 30, 2023 | +4.7% | +8.3% |
| March 31, 2023 | +6.6% | +7.0% |
| December 31, 2022 | +1.7% | +7.1% |
| September 30, 2022 | −2.8% | −5.3% |
| June 30, 2022 | −12.0% | −16.5% |
| March 31, 2022 | −0.6% | −4.9% |
| December 31, 2021 | +3.1% | +10.7% |
| September 30, 2021 | −1.7% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Refined Wealth Management Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1724729&type=13F-HR&dateb=&owner=include&count=40CIK 1724729
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1724729/000172472926000005/Filed July 21, 2026 · accession 0001724729-26-000005