M. Michael Rounds

Following their disclosures vs. same money in SPY: -33.6 pts

Cumulative return you could actually have earned by copying them (blue) vs. the same dollars on the same days in SPY (amber). Every position is opened at the close of the session after the filing became public — not on the day they traded, which nobody could have known at the time. Each position is sized from the middle of its disclosed range — filings give a band, not a number. Returns are time-weighted, so money paid in is stripped out and only performance is left. Each vertical line is a notable disclosed buy / sell, tagged with the company logo (their biggest, earliest and most recent trades). A dotted line / ° is an options trade: we buy that many dollars of the underlying stock, since the filing gives no strike or expiry — which understates the real leverage rather than overstating it.

Trades

	Ticker	Amount	Traded	Disclosed
BUY	VN VNQ	$1K–$15K	2025-12-12	2026-05-07	PDF →
BUY	SP SPHY	$1K–$15K	2025-12-12	2026-05-07	PDF →
BUY	BS BSV	$1K–$15K	2025-12-12	2026-05-07	PDF →
BUY	VD VDC	$1K–$15K	2025-12-12	2026-05-07	PDF →
BUY	BN BND	$1K–$15K	2025-12-12	2026-05-07	PDF →
SELL	VG VGT	$1K–$15K	2025-12-12	2026-05-07	PDF →
SELL	VB VB	$1K–$15K	2025-12-12	2026-05-07	PDF →
BUY	VT VTIP	$15K–$50K	2025-12-12	2026-05-07	PDF →
BUY	VN VNQI	$1K–$15K	2025-12-12	2026-05-07	PDF →
SELL	VC VCR	$1K–$15K	2025-12-12	2026-05-07	PDF →
SELL	VH VHT	$1K–$15K	2025-12-12	2026-05-07	PDF →
BUY	VM VMBS	$1K–$15K	2025-12-12	2026-05-07	PDF →
SELL	VO VOX	$1K–$15K	2025-12-12	2026-05-07	PDF →
BUY	BN BNDX	$1K–$15K	2025-12-12	2026-05-07	PDF →
SELL	VP VPU	$1K–$15K	2025-12-12	2026-05-07	PDF →
SELL	IA IAU other	$15K–$50K	2025-12-12	2026-05-07	PDF →
SELL	VE VEA	$1K–$15K	2025-12-12	2026-05-07	PDF →
BUY	VF VFH	$1K–$15K	2025-12-12	2026-05-07	PDF →
SELL	Aeronics, Inc. Building other (joint)	$15K–$50K	2025-11-14	2026-05-07	PDF →
BUY	VM VMBS	$1K–$15K	2025-11-04	2026-05-07	PDF →
SELL	IA IAU other	$1K–$15K	2025-11-04	2026-05-07	PDF →
BUY	VT VTIP	$1K–$15K	2025-11-04	2026-05-07	PDF →
SELL	VG VGT	$1K–$15K	2025-11-04	2026-05-07	PDF →
BUY	SP SPHY	$1K–$15K	2025-11-04	2026-05-07	PDF →
BUY	VN VNQ	$1K–$15K	2025-11-04	2026-05-07	PDF →
BUY	BN BND	$1K–$15K	2025-11-04	2026-05-07	PDF →
SELL	VW VWO	$1K–$15K	2025-11-04	2026-05-07	PDF →
BUY	BS BSV	$1K–$15K	2025-11-04	2026-05-07	PDF →
BUY	VD VDC	$1K–$15K	2025-11-04	2026-05-07	PDF →
BUY	BN BNDX	$1K–$15K	2025-11-04	2026-05-07	PDF →

Estimated current holdings

Every disclosed stock/ETF buy minus every disclosed sell, marked to today (Oct 29, 2026) — our best estimate of what Rounds still holds (options and bonds aren't counted). A recent tag means they've traded that name in the last 18 months, so it's more likely still current; the rest could have been sold in a filing we haven't matched.

Ticker		Est. value	Weight	Return on lots held	1st buy	Last trade
VM VMBS	recent	$234K	22.6%	+6.9%	May 2024	Dec 2025
SP SPHY	recent	$201K	19.4%	+13.0%	May 2024	Dec 2025
BS BSV	recent	$199K	19.1%	+6.3%	May 2024	Dec 2025
BN BND	recent	$174K	16.7%	+5.2%	May 2024	Dec 2025
VT VTIP	recent	$59K	5.7%	+0.2%	May 2026	Dec 2025
BN BNDX	recent	$56K	5.4%	+3.0%	May 2024	Dec 2025
VE VEA	recent	$30K	2.9%	+38.3%	May 2024	Dec 2025
VN VNQI	recent	$25K	2.4%	+1.3%	May 2024	Dec 2025
JN JNK		$18K	1.7%	+15.1%	May 2024	Oct 2023
VN VNQ	recent	$16K	1.6%	-3.0%	May 2024	Dec 2025
VD VDC	recent	$8K	0.8%	+3.0%	May 2024	Dec 2025
VD VDE	recent	$6K	0.6%	+31.0%	May 2024	Jun 2025
VH VHT	recent	$5K	0.5%	+24.8%	May 2024	Dec 2025
VF VFH	recent	$4K	0.4%	+8.8%	May 2024	Dec 2025
VB VB	recent	$3K	0.3%	+1.2%	May 2024	Dec 2025

Filings 6 on file · every disclosure Rounds has made