Element Squared
MINNEAPOLIS, MNfiles as Element Squared LLC
$201m in 49 US stocks at the end of 30 June 2026. The top 10 are 62.0% of the money. It changed about 23.3% of the portfolio this quarter.
Value
$201m
Stocks
49
Top 10 share
62.0%
Turnover
23.3%
What changed this quarter
New
Bought for the first time this quarter.
- MicrosoftMSFT1.6% of the fund
- Innovator Etfs TrustNJUN1.5% of the fund
- Arista NetworksANET1.4% of the fund
- Marsh & McLennan CompaniesMRSH1.3% of the fund
- Neurocrine BiosciencesNBIX1.3% of the fund
- Ferguson EnterprisesFERG1.3% of the fund
- ServiceNowNOW1.3% of the fund
- BroadcomAVGO1.3% of the fund
- LegenceLGN1.2% of the fund
- Gilead SciencesGILD1.2% of the fund
- United Airlines HoldingsUAL0.7% of the fund
- Innovator Etfs TrustNMAY0.7% of the fund
- Copt Defense PropertiesCDP0.7% of the fund
- MastecMTZ0.7% of the fund
- Super Group (SGHC)SGHC0.6% of the fund
- Vertiv HoldingsVRT0.6% of the fund
- Zevra TherapeuticsZVRA0.3% of the fund
- 3MMMM0.1% of the fund
Added
Bought more of a stock they already held.
- Invesco Exchange Traded FD TRSP13.9% of the fund+36%
- State STR Spdr S&P 500 ETF TSPY9.4% of the fund+3%
- AlphabetGOOG1.9% of the fund+43%
- AmphenolAPH1.5% of the fund+4%
- IncyteINCY1.4% of the fund+3%
- AppleAAPL1.3% of the fund+2%
- Expedia GroupEXPE1.3% of the fund+4%
- American ExpressAXP1.3% of the fund+4%
- United TherapeuticsUTHR1.2% of the fund+3%
- Realty IncomeO1.2% of the fund+5%
- Regeneron PharmaceuticalsREGN1.0% of the fund+5%
Cut
Sold some of their stake.
- Innovator Etfs TrustNMAR20.7% of the fund-2%
- Invesco QQQ TRQQQ4.5% of the fund-44%
- NvidiaNVDA3.6% of the fund-38%
- Innovator Etfs TrustNOCT3.3% of the fund-14%
- Taiwan Semiconductor ManufacturingTSM1.4% of the fund-7%
- EvercoreEVR1.3% of the fund-4%
- Innovator Etfs TrustNNOV1.3% of the fund-2%
- Vanguard Index FDSVUG1.2% of the fund-3%
- Vaneck ETF TrustMOAT1.1% of the fund-3%
- Applied MaterialsAMAT1.1% of the fund-52%
- First SolarFSLR1.1% of the fund-19%
- Eli LillyLLY0.9% of the fund-35%
- Meta PlatformsMETA0.6% of the fund-42%
- CelesticaCLS0.6% of the fund-60%
Sold out
Sold their entire stake.
- Petrobras - Petroleo Brasileiro SAPBR-100%
- America Movil SAB de CVAMX-100%
- TE ConnectivityTEL-100%
- Advanced Micro DevicesAMD-100%
- Agnico Eagle MinesAEM-100%
- NewmontNEM-100%
- Cboe Global MktsCBOE-100%
- ShopifySHOP-100%
- Charles SchwabSCHW-100%
- Ryanair HoldingsRYAAY-100%
- RambusRMBS-100%
Holdings
- Innovator Etfs TrustNMAR
- Share
- 20.7%
- Value
- $42m
- Shares
- 1,293,733
-2%
- Invesco Exchange Traded FD TRSP
- Share
- 13.9%
- Value
- $28m
- Shares
- 131,270
+36%
- State STR Spdr S&P 500 ETF TSPY
- Share
- 9.4%
- Value
- $19m
- Shares
- 25,435
+3%
- Invesco QQQ TRQQQ
- Share
- 4.5%
- Value
- $9m
- Shares
- 12,405
-44%
- Innovator Etfs TrustNOCT
- Share
- 3.3%
- Value
- $7m
- Shares
- 105,583
-14%
- Innovator Etfs TrustNJUN
- Share
- 1.5%
- Value
- $3m
- Shares
- 92,876
New
- Innovator Etfs TrustNNOV
- Share
- 1.3%
- Value
- $3m
- Shares
- 81,081
-2%
- Vanguard Index FDSVUG
- Share
- 1.2%
- Value
- $2m
- Shares
- 27,611
-3%
- Vaneck ETF TrustMOAT
- Share
- 1.1%
- Value
- $2m
- Shares
- 21,775
-3%
- Innovator Etfs TrustPMAY
- Share
- 0.9%
- Value
- $2m
- Shares
- 45,945
Held
- Innovator Etfs TrustPJAN
- Share
- 0.9%
- Value
- $2m
- Shares
- 37,821
Held
- Innovator Etfs TrustNMAY
- Share
- 0.7%
- Value
- $1m
- Shares
- 49,518
New
- Innovator Etfs TrustNFEB
- Share
- 0.6%
- Value
- $1m
- Shares
- 39,658
Held
- Innovator Etfs TrustNJAN
- Share
- 0.1%
- Value
- $243,812
- Shares
- 4,131
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Innovator Etfs TrustNMAR | 20.7% | $42m | 1,293,733 | -2% |
| Invesco Exchange Traded FD TRSP | 13.9% | $28m | 131,270 | +36% |
| State STR Spdr S&P 500 ETF TSPY | 9.4% | $19m | 25,435 | +3% |
| Invesco QQQ TRQQQ | 4.5% | $9m | 12,405 | -44% |
| NvidiaNVDA | 3.6% | $7m | 35,946 | -38% |
| Innovator Etfs TrustNOCT | 3.3% | $7m | 105,583 | -14% |
| AlphabetGOOG | 1.9% | $4m | 10,706 | +43% |
| MicrosoftMSFT | 1.6% | $3m | 8,590 | New |
| AmphenolAPH | 1.5% | $3m | 17,636 | +4% |
| Innovator Etfs TrustNJUN | 1.5% | $3m | 92,876 | New |
| Arista NetworksANET | 1.4% | $3m | 16,919 | New |
| Taiwan Semiconductor ManufacturingTSM | 1.4% | $3m | 5,990 | -7% |
| IncyteINCY | 1.4% | $3m | 24,786 | +3% |
| Interactive Brokers GroupIBKR | 1.4% | $3m | 32,278 | Held |
| AppleAAPL | 1.3% | $3m | 9,296 | +2% |
| Expedia GroupEXPE | 1.3% | $3m | 10,199 | +4% |
| American ExpressAXP | 1.3% | $3m | 7,648 | +4% |
| EvercoreEVR | 1.3% | $3m | 7,566 | -4% |
| Marsh & McLennan CompaniesMRSH | 1.3% | $3m | 15,375 | New |
| Neurocrine BiosciencesNBIX | 1.3% | $3m | 15,167 | New |
| Innovator Etfs TrustNNOV | 1.3% | $3m | 81,081 | -2% |
| Ferguson EnterprisesFERG | 1.3% | $3m | 10,742 | New |
| ServiceNowNOW | 1.3% | $3m | 25,359 | New |
| BroadcomAVGO | 1.3% | $3m | 6,663 | New |
| LegenceLGN | 1.2% | $2m | 28,832 | New |
| Gilead SciencesGILD | 1.2% | $2m | 19,358 | New |
| Vanguard Index FDSVUG | 1.2% | $2m | 27,611 | -3% |
| United TherapeuticsUTHR | 1.2% | $2m | 4,349 | +3% |
| Realty IncomeO | 1.2% | $2m | 37,542 | +5% |
| Vaneck ETF TrustMOAT | 1.1% | $2m | 21,775 | -3% |
| Applied MaterialsAMAT | 1.1% | $2m | 3,028 | -52% |
| First SolarFSLR | 1.1% | $2m | 9,234 | -19% |
| Regeneron PharmaceuticalsREGN | 1.0% | $2m | 3,083 | +5% |
| Innovator Etfs TrustPMAY | 0.9% | $2m | 45,945 | Held |
| Innovator Etfs TrustPJAN | 0.9% | $2m | 37,821 | Held |
| Eli LillyLLY | 0.9% | $2m | 1,480 | -35% |
| United Airlines HoldingsUAL | 0.7% | $1m | 10,803 | New |
| Innovator Etfs TrustNMAY | 0.7% | $1m | 49,518 | New |
| Copt Defense PropertiesCDP | 0.7% | $1m | 37,872 | New |
| MastecMTZ | 0.7% | $1m | 3,150 | New |
| Super Group (SGHC)SGHC | 0.6% | $1m | 91,693 | New |
| Innovator Etfs TrustNFEB | 0.6% | $1m | 39,658 | Held |
| Vertiv HoldingsVRT | 0.6% | $1m | 3,585 | New |
| Meta PlatformsMETA | 0.6% | $1m | 2,064 | -42% |
| CelesticaCLS | 0.6% | $1m | 3,184 | -60% |
| Zevra TherapeuticsZVRA | 0.3% | $664,458 | 46,336 | New |
| Lam ResearchLRCX | 0.2% | $478,470 | 1,104 | Held |
| Innovator Etfs TrustNJAN | 0.1% | $243,812 | 4,131 | Held |
| 3MMMM | 0.1% | $206,399 | 1,275 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 25.3% since 30 June 2025.
Where the money is
Technology16.4%
Health care7.2%
Financial services5.2%
Industrials4.6%
Media & telecom2.5%
Retail & consumer1.9%
Real estate1.8%
Other60.3%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.