What is Δ QoQ in a Form 13F?

Δ QoQ is the quarter-over-quarter change in the number of shares a manager reports for a holding, comparing the latest 13F with the previous quarter's filing. It separates a manager's action from the effect of price moves: a 20% share-count rise during a drawdown signals dip-buying conviction, while a share-count cut during a rally can mean profit-taking.

What does a 13F not show?

Four blind spots: (1) 45-day lag — filings cover quarter-end but arrive up to 45 days later; (2) long-only US equities and options — short positions, pair trades and market-neutral halves are invisible; (3) no non-US equities, fixed income or cash; (4) corporate actions (splits, spinoffs) distort raw share-count deltas.

How do I use these Δ QoQ insights?

Start with the per-filer chips: biggest adds and trims by share count, positions added from nil, complete exits, top-10 concentration and the sector/industry split of the largest holdings. Then read them in context: a new position signals high conviction, a complete exit can mean a broken thesis, and multi-manager consensus on the same stock is the strongest signal of institutional crowding. The caveats above always apply.

S. R. Schill & Associates

SEC Form 13F institutional filer · CIK 0001616004

13F-HR · 13 reported holdings · 2026-03-31

Reported long-US-equity value

$0.09B

Top-10 concentration

99.2%

S. R. Schill & Associates — $91.1M AUM allocation strategy

S. R. Schill & Associates files SEC Form 13F and reports $91.1M of long US equity value across 13 reported holdings for 2026-03-31.

Its largest sector bet is Information Technology 3.1%, followed by Industrials 1.3% and Materials 0.5%.

The top 10 holdings account for 99% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.

S. R. Schill & Associates — latest SEC 13F insights

Reported long-US-equity value (13F AUM)

$91.1M

total across 13 reported holdings · 2026-03-31 · excludes shorts, cash, non-US

Top-10 concentration

99% of value

higher = narrower conviction; lower = spread / hedging

Biggest adds (shares)

$IVV $SPYM $AAPL

+$IVV +24.4K sh · +$3.11M+$SPYM +8.17K sh · −$173K+$AAPL +352 sh · +$74.9K

Biggest trims (shares)

$XLU $VTWO

−$XLU −42.2K sh · −$1.63M−$VTWO −37.5K sh · −$3.61M

Added from nil (new positions)

$IYY $UNP

2 fresh holdings — new conviction

Exited to nil (held last quarter, gone now)

None this quarter

Sector allocation (share of reported value)

ETFs94.6%—
$XLKInformation Technology3.1%—
$XLIIndustrials1.3%—
$XLBMaterials0.5%—
$XLCCommunication Services0.4%—
$XLYConsumer Discretionary0.2%—

each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”

Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.

Industry allocation (share of reported value)

Systems Software2.8%—
Aerospace & Defense1.0%—
Specialty Chemicals0.5%—
Interactive Media & Services0.4%—
Technology Hardware, Storage & Peripherals0.3%—
Broadline Retail0.2%—
Rail Transportation0.2%—
Other holdings94.6%—

the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”

Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.

Top S&P 500 holdings

5 of 5 rows · sorted by Value ↓

Ticker	Holding	Shares	Value	Δ QoQ	Weight
$MSFT	Microsoft Corporation	6.79K	$2.51M	+129	2.8%
$BA	Boeing Company	2.5K	$498K	+39	0.5%
$SHW	Sherwin-Williams Company	1.35K	$433K	+0	0.5%
$LMT	Lockheed Martin Corporation	707	$427K	+0	0.5%
$GOOGL	Alphabet Inc	1.15K	$331K	+0	0.4%

…and 8 more holdings in the full 13F filing (top positions only shown).

SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported

← All 13F filers·← QuantOrb.pro

How to read Δ QoQ — the five insight categories, and the caveats

The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.

Conviction & concentration shifts

New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.

Sector & macro allocation rotations

Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.

Crowding & smart-money consensus

When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.

Derivative & option overlays

Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.

Who reads this

Retail "cloners"	High-conviction ideas to replicate ~45 days after quarter-end.
Corporate IR	Which funds bought or dumped the stock, before the next call.
Quant / algo traders	Cross-sectional factor inputs: flow, momentum, ownership.

Four caveats before you trade on it

45-day lag — holdings are quarter-end; positions may already be closed.
Long-only — 13Fs miss shorts, pair trades and cash.
No non-US / fixed income — the picture is US equities plus options.
Corporate actions — splits and spinoffs distort raw share deltas.

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