Refined Wealth Management
Long book
$158.4M
Q1 2026
Positions
50
Top-10 weight
65%
concentration
Last quarter
+5.1%
SPY +14.8%
Turnover
37%
of book per quarter
Strategy in plain words
auto-generated from filingsRefined Wealth Management is a wealth-management firm allocating client money, running a $158.4M US long book across 50 positions.
The portfolio is concentrated: the top 10 names carry 65% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: VANGUARD FTSE DEVELOPED ETF, INVESCO QQQ TRUST SERIES 1, INVESCO S&P 500 EQUAL WEIGHT, COINBASE GLOBAL INC -CLASS A, CHEVRON CORP.
Over the last 9 quarters its long book ran on average 3.6pp per quarter behind the S&P 500, beating the index in 1 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-3.3%
Q2 2024
-0.1%
Q3 2024
+2.4%
Q4 2024
-4.8%
Q1 2025
+17.6%
Q2 2025
+4.5%
Q3 2025
-7.6%
Q4 2025
-5.6%
Q1 2026
+5.1%
Sector allocation
Energy 42%
Financials 29%
Technology 18%
Consumer discretionary 7%
Industrials 3%
Materials 1%
Long book by quarter
What does Refined Wealth own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 59.2K | $10.3M | 6.5% | +1.1% |
| CVX CHEVRON CORP | Energy | 44.4K | $9.2M | 5.8% | New |
| MPC MARATHON PETROLEUM CORP | Energy | 25.0K | $6.1M | 3.9% | New |
| ENVX ENOVIX CORP | Technology | 854.5K | $4.4M | 2.8% | +5.8% |
| BBBY BED BATH & BEYOND INC | Consumer discretionary | 422.6K | $2.0M | 1.2% | +1.3% |
| NVDA NVIDIA CORP | Technology | 4.8K | $845K | 0.5% | -28.8% |
| AAPL APPLE INC | Technology | 3.0K | $764K | 0.5% | -6.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 2.9K | $610K | 0.4% | -42.9% |
| UNP UNION PACIFIC CORP | Industrials | 2.5K | $600K | 0.4% | +0.5% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 860 | $412K | 0.3% | Held |
| META META PLATFORMS INC-CLASS A | Technology | 574 | $328K | 0.2% | -21.9% |
| MSFT MICROSOFT CORP | Technology | 875 | $324K | 0.2% | Held |
| TSLA TESLA INC | Industrials | 606 | $225K | 0.1% | -18.2% |
| CCJ CAMECO CORP | Materials | 1.9K | $212K | 0.1% | New |
| ETN EATON CORP PLC | Industrials | 590 | $211K | 0.1% | -8.0% |
| XOM EXXON MOBIL CORP | Energy | 1.2K | $208K | 0.1% | New |
| NXE NEXGEN ENERGY LTD | Materials | 11.0K | $128K | 0.1% | Held |
| DNN DENISON MINES CORP | Materials | 10.8K | $38K | 0.0% | Held |
| URG UR-ENERGY INC | Materials | 10.8K | $16K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 21, 2026 | 50 | $158.4M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 15, 2026 | 43 | $148.6M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 21, 2025 | 36 | $155.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 17, 2025 | 33 | $145.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 22, 2025 | 27 | $122.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 22, 2025 | 27 | $131.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 18, 2024 | 27 | $129.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 18, 2024 | 28 | $129.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 18, 2024 | 29 | $142.0M | canonical | SEC ↗ |