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Lynx Investment Advisory — 13F Holdings & Portfolio

CIK 2028812 · latest 13F-HR filed 2026-07-27

Backtest portfolio

Lynx Investment Advisory manages $305.2M in 13F-reported U.S. long-equity assets across 465 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are SPHQ (4.15%), AAPL (3.12%), IGRO (2.83%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 53 new positions and exited 4; 115 existing positions rose in reported value and 27 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$305.2M

Long-equity book

Holdings
465

Distinct positions

Period
2026-06-30

Filed 2026-07-27

Q/Q Activity
+53 / −4 / ↑115 / ↓27

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
SPHQ4.2% · -3%AAPL3.2% · +31%IGRO2.9% · +3%VEA2.7% · +136%SPY2.5% · +52%DFAI2.3% · +2%IJH2.3% · -22%NOBL2.1% · +80%GLD2.0% · +1%GLDM1.9% · -1%GOOGL1.7% · +6%VSS1.5% · +1012%VTI1.4% · +712%SPMD1.4% · +1%VCIT1.4% · +1068%VB1.3% · +546%IAU1.3% · +8%VT1.3% · +1354%MSFT1.3% · +10%AMZN1.2% · +2%VCRB1.2% · +5%BND1.2% · +118%MA1.2% · +36%FGD1.2% · -17%VCSH1.1% · +1206%VIG1.1% · +6%VYM1.0% · +1%NZUS1.0% · newVNQ1.0% · +1248%VO0.9% · +3128%VWO0.9% · +154%SCHX0.9% · -0%BRK.B0.9% · 0%SPHD0.9% · -24%VTV0.9% · +280%VNQI0.8% · +829%RTX0.8% · newAKRE0.8% · -48%BIV0.8% · -12%WOOD0.7% · +6%ACWI0.7% · newNVDA0.7% · +17%VOE0.6% · newSOXX0.6% · -17%DUHP0.6% · +321%CGW0.6% · -1%DFAE0.5% · +42%JNK0.5% · newTDTT0.5% · -20%JPM0.5% · +74%XLE0.5% · +0%VOO0.5% · +39%V0.5% · +19%AMLP0.5% · newVEU0.5% · +515%PFE0.5% · +10%SEIE0.5% · -3%GOOG0.4% · +2%VGIT0.4% · newVBR0.4% · +326%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

3 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 26%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Apr 9, 2026.

Assets Under Management
$1.11B
Discretionary
$360.6M
Employees
13
Accounts
236
Address
1100 CONNECTICUT AVENUE, NW
SUITE 300
WASHINGTON, DC 20036
Phone
(202) 833-3700
Website
Name Title / Status Ownership Type
CIG CAPITAL HOLDINGS INC. ControlMANAGING MEMBER
since Sep 2014
75% or moreDomestic Entity
DESAI, ROGER, SUDHIR ControlMANAGING DIRECTOR - CONSULTING
since Dec 2021
Less than 5%Individual
HINES, LARA, CAROLINE ControlMANAGING DIRECTOR/CHIEF OPERATING OFFICER
since Mar 2007
Less than 5%Individual
KUTKO, ADRIAN, BOHDAN ControlMANAGING DIRECTOR
since Jan 2007
Less than 5%Individual
LILIAN, KARA, ANN ControlVICE PRESIDENT/CHIEF COMPLIANCE OFFICER
since Mar 2007
Less than 5%Individual
SAHIJWANI, VIPIN, (NMN) ControlCEO, PRESIDENT, AND CHIEF INVESTMENT OFFICER
since Sep 2014
5–10%Individual
EL-HARIRI, BAHAA, RAFIC Control
Indirect owner via FARASSEIN, INC.
SOLE OWNER
since Aug 2014
75% or moreIndividual
FARASSEIN INC. Control
Indirect owner via CIG CAPITAL HOLDINGS, INC.
SOLE OWNER
since Aug 2014
75% or moreForeign Entity
Ownership & leadership changes · 4 filings with changes since Mar 27, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 20, 2025 filing
  • No longer listedERRIGO, HEATHER, TRACEY · MANAGING DIRECTOR - CONSULTING · Less than 5% · control person · listed since Jan 2007
Mar 29, 2023 filing
  • No longer listedTANOUS, PETER, JOSEPH · CHAIRMAN · 5–10% · control person · listed since Sep 2014
  • AddedDESAI, ROGER, SUDHIR · MANAGING DIRECTOR - CONSULTING · Less than 5% · control person
  • ChangedSAHIJWANI, VIPIN, (NMN) · ownership Less than 5% → 5–10%
Nov 21, 2014 filing
  • No longer listedLEPERCQ DE NEUFLIZE & CO., INC. · MEMBER · 75% or more · control person · listed since Apr 2001
  • No longer listedLEPERCQ GROUP LTD. · SHAREHOLDER · 50–75% · indirect via LEPERCQ DE NEUFLIZE & CO., INC. · listed since Sep 1989
  • No longer listedLETACONNOUX, FRANCOIS · CHARIMAN / CHIEF EXECUTIVE OFFICER / DIRECTOR · Less than 5% · control person · listed since Apr 2001
  • No longer listedLYNX INVESTMENT ADVISORY, INC. · MANAGING MEMBER · 10–25% · control person · listed since Dec 2000
  • No longer listedTIE, RYAN, MICHAEL · CHIEF INVESTMENT OFFICER � FUNDS · Less than 5% · control person · listed since Jan 2007
  • AddedCIG CAPITAL HOLDINGS INC. · MANAGING MEMBER · 75% or more · control person
  • AddedEL-HARIRI, BAHAA, RAFIC · SOLE OWNER · 75% or more · indirect via FARASSEIN, INC. · control person
  • AddedFARASSEIN INC. · SOLE OWNER · 75% or more · indirect via CIG CAPITAL HOLDINGS, INC. · control person
  • ChangedSAHIJWANI, VIPIN, (NMN) · title CHIEF INVESTMENT OFFICER → CEO, PRESIDENT, AND CHIEF INVESTMENT OFFICER
  • ChangedTANOUS, PETER, JOSEPH · title PRESIDENT OF MANAGING MEMBER/DIRECTOR → CHAIRMAN; ownership Less than 5% → 5–10%
Mar 6, 2013 filing
  • No longer listedHERREMA, DONALD, JAMES · CHAIRMAN · Less than 5% · control person · listed since Sep 2009
  • ChangedLETACONNOUX, FRANCOIS · title DIRECTOR → CHARIMAN / CHIEF EXECUTIVE OFFICER / DIRECTOR
Mar 27, 2012 filing (earliest on record)
  • ListedERRIGO, HEATHER, TRACEY · MANAGING DIRECTOR - CONSULTING · Less than 5% · control person
  • ListedHERREMA, DONALD, JAMES · CHAIRMAN · Less than 5% · control person
  • ListedHINES, LARA, CAROLINE · MANAGING DIRECTOR/CHIEF OPERATING OFFICER · Less than 5% · control person
  • ListedKUTKO, ADRIAN, BOHDAN · MANAGING DIRECTOR · Less than 5% · control person
  • ListedLEPERCQ DE NEUFLIZE & CO., INC. · MEMBER · 75% or more · control person
  • ListedLEPERCQ GROUP LTD. · SHAREHOLDER · 50–75% · indirect via LEPERCQ DE NEUFLIZE & CO., INC.
  • ListedLETACONNOUX, FRANCOIS · DIRECTOR · Less than 5% · control person
  • ListedLILIAN, KARA, ANN · VICE PRESIDENT/CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedLYNX INVESTMENT ADVISORY, INC. · MANAGING MEMBER · 10–25% · control person
  • ListedSAHIJWANI, VIPIN, (NMN) · CHIEF INVESTMENT OFFICER · Less than 5% · control person
  • ListedTANOUS, PETER, JOSEPH · PRESIDENT OF MANAGING MEMBER/DIRECTOR · Less than 5% · control person
  • ListedTIE, RYAN, MICHAEL · CHIEF INVESTMENT OFFICER � FUNDS · Less than 5% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Lynx Investment Advisory Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 INVESCO S&P 500 QUALITY ETF SPHQ 46137V241 $12.7M 4.15% 140,717 SH
2 APPLE INC COM AAPL 037833100 $9.5M 3.12% 32,908 SH
3 ISHARES INTL DIVIDEND GROWTH ETF IGRO 46435G524 $8.7M 2.83% 98,396 SH
4 SPDR S&P 500 ETF SPY 78462F103 $7.6M 2.48% 10,121 SH
5 DIMENSIONAL INTERNATIONAL CORE EQUITY MARKET ETF DFAI 25434V203 $7.0M 2.29% 169,780 SH
6 ISHARES CORE S&P MID-CAP ETF IJH 464287507 $7.0M 2.28% 90,156 SH
7 PROSHARES S&P 500 DIVIDEND ARISTOCRATS ETF NOBL 74348A467 $6.5M 2.14% 116,127 SH
8 VANGUARD FTSE DEV MKTS ETF (VEA) VEA 921943858 $6.0M 1.98% 84,829 SH
9 SPDR GOLD MINISHARES TRUST OF BENEFICIAL INTEREST GLDM 98149E303 $5.6M 1.84% 70,609 SH
10 ALPHABET INC CAP STK CL A GOOGL 02079K305 $5.2M 1.71% 14,628 SH
11 SPDR GOLD SHARES ETF GLD 78463V107 $4.8M 1.59% 13,156 SH
12 VANGUARD FTSE ALL-WORLD EX-US SMALL-CAP ETF VSS 922042718 $4.5M 1.49% 29,455 SH
13 VANGUARD TOTAL STOCK MKT ETF (VTI) VTI 922908769 $4.3M 1.41% 11,633 SH
14 STATE STREET SPDR PORTFOLIO S&P 400 MID CAP ETF SPMD 78464A847 $4.3M 1.40% 63,180 SH
15 VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF VCIT 92206C870 $4.2M 1.38% 51,033 SH
16 VANGUARD SMALL-CAP ETF VB 922908751 $4.0M 1.30% 13,075 SH
17 VANGUARD TOTAL WORLD STOCK ETF VT 922042742 $3.8M 1.26% 24,446 SH
18 MICROSOFT CORP COM MSFT 594918104 $3.7M 1.20% 9,818 SH
19 VANGUARD CORE BOND ETF VCRB 922020748 $3.6M 1.19% 47,001 SH
20 MASTERCARD INCORPORATED CL A MA 57636Q104 $3.6M 1.17% 6,962 SH
21 AMAZON COM INC COM AMZN 023135106 $3.6M 1.17% 14,947 SH
22 FIRST TRUST DOW JONES GLOBAL SELECT DIVIDEND INDEX FUND FGD 33734X200 $3.5M 1.16% 110,305 SH
23 VANGUARD ST CORP BOND ETF (VCSH) VCSH 92206C409 $3.4M 1.12% 43,290 SH
24 VANGUARD DIVIDEND APPRECIATION ETF VIG 921908844 $3.4M 1.12% 14,397 SH
25 VANGUARD TOTAL BOND MARKET ETF BND 921937835 $3.1M 1.02% 42,255 SH
26 STATE STREET SPDR BLOOMBERG 1-10 YEAR TIPS ETF TIPX 78468R861 $3.0M 0.98% 158,174 SH
27 VANGUARD REAL ESTATE ETF VNQ 922908553 $3.0M 0.97% 30,728 SH
28 VANGUARD MID-CAP ETF VO 922908629 $2.9M 0.95% 35,955 SH
29 VANGUARD HIGH DIVIDEND YIELD INDEX ETF VYM 921946406 $2.9M 0.94% 18,147 SH
30 BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B 084670702 $2.7M 0.89% 5,451 SH
31 INVESCO S&P 500 HIGH DIVIDEND LOW VOLATILITY ETF SPHD 46138E362 $2.7M 0.88% 53,053 SH
32 VANGUARD GLOBAL EX-U.S. REAL ESTATE ETF VNQI 922042676 $2.5M 0.83% 56,268 SH
33 RTX CORPORATION COM RTX 75513E101 $2.5M 0.81% 13,075 SH
34 AKRE FOCUS ETF AKRE 74316P579 $2.4M 0.80% 46,012 SH
35 VANGUARD INTERMEDIATE-TERM BOND ETF BIV 921937819 $2.4M 0.80% 31,779 SH
36 VANGUARD VALUE ETF VTV 922908744 $2.3M 0.75% 10,536 SH
37 ISHARES GOLD TRUST IAU 464285204 $2.3M 0.75% 30,127 SH
38 VANGUARD FTSE DEV MKTS ETF (VEA) VEA 921943858 $2.1M 0.70% 30,079 SH
39 ISHARES GLOBAL TIMBER & FORESTRY ETF WOOD 464288174 $2.1M 0.69% 31,861 SH
40 ISHARES MSCI ACWI ETF ACWI 464288257 $2.0M 0.67% 12,983 SH
41 VANGUARD FTSE EMRG MKTS ETF (VWO) VWO 922042858 $2.0M 0.66% 33,525 SH
42 NVIDIA CORPORATION COM NVDA 67066G104 $1.9M 0.61% 9,298 SH
43 VANGUARD MID-CAP VALUE ETF VOE 922908512 $1.8M 0.60% 9,200 SH
44 DIMENSIONAL US HIGH PROFITABILITY ETF DUHP 25434V831 $1.7M 0.56% 40,769 SH
45 DIMENSIONAL EMERGING CORE EQUITY MARKET ETF DFAE 25434V302 $1.7M 0.55% 41,643 SH
46 STATE STREET SPDR BLOOMBERG HIGH YIELD BOND ETF JNK 78468R622 $1.7M 0.55% 17,359 SH
47 FLEXSHARES IBOXX 3 YEAR TARGET DURATION TIPS INDEX FUND TDTT 33939L506 $1.7M 0.55% 69,588 SH
48 JPMORGAN CHASE & CO COM JPM 46625H100 $1.6M 0.53% 4,974 SH
49 ISHARES GOLD TRUST IAU 464285204 $1.6M 0.53% 21,269 SH
50 VANGUARD S&P 500 ETF VOO 922908363 $1.6M 0.51% 2,257 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-07-27 $305.2M 465 0002028812-26-000003
2026-03-31 2026-04-24 $209.2M 400 0002028812-26-000002
2025-12-31 2026-02-05 $183.3M 373 0002028812-26-000001
Filer Information
Address
1100 CONNECTICUT AVENUE NW
SUITE 300
WASHINGTON, DC, DC 20036
Phone
(202) 833-3700
Filing Manager
Lynx Investment Advisory
WASHINGTON, DC, DC
Signatory
Kara Lilian
Chief Compliance Officer