Element Squared LLC

Registered adviser

CIK

2086643

Location

MINNEAPOLIS, MN

Portfolio Value

Small $201,000,556

Diversification

Diversified

Filing Date

Global Rank

#6,467 / 8,815 ▼ 71

Top Industry

Semiconductors 15.8%

Period ended 4 months ago

Filed Jul 28, 2026 · 3mo

5 quarters · since Jun 2025

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 311284

Roster of Oct 1, 2026

Regulatory AUM

$203,482,682

Main clients

Individuals and high net worth (100% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Mar 2026 to Oct 2026	$203,482,682	Individuals and high net worth (100%)
Feb 2025 to Feb 2026	$168,300,000	Individuals and high net worth (100%)
Feb 2024 to Jan 2025	$106,493,000	Individuals and high net worth (100%)
Sep 2023 to Jan 2024	$101,527,995	Individuals and high net worth (100%)

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 68.0% of the book (60%+)

Turnover

High turnover

158.5% over the last four quarters (100%+)

Horizon

Short horizon

Value-weighted holding period 2.9 quarters (under 4)

Closest benchmark: every 13F filer's combined book, active share 83.2%; sector active share 47.9% against the combined 13F book's sector weights.

Over time 5 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

49 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

25.8%

+0.9 pts

Top 5

58.0%

+0.7 pts

Top 10

68.0%

+0.2 pts

HHI

1,047

Diversified+78

Portfolio Trend

5 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	60.3%	$121,259,578	14
Technology	16.4%	$32,973,594	12
Healthcare	7.2%	$14,530,080	7
Financial Services	5.2%	$10,542,299	4
Industrials	4.6%	$9,193,201	6
Communication Services	2.5%	$4,945,380	2
Consumer Cyclical	1.9%	$3,852,160	2
Real Estate	1.8%	$3,704,264	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

13 positions

Ticker	Company	Δ Shares	Shares	Value
RSP	Victory Portfolios II	+34,414	131,270	$27,930,317
VUG	VANGUARD GROWTH INDEX FUND	+22,887	27,611	$2,378,411
GOOG	Alphabet Inc.	+3,218	10,706	$3,782,750
O	Realty Income Corp	+1,779	37,542	$2,326,102
INCY	Incyte Corp	+829	24,786	$2,809,740
SPY	Spdr S&P 500 ETF Trust	+748	25,435	$18,994,094
APH	Amphenol Corp	+660	17,636	$3,109,579
IBKR	Interactive Brokers Group, Inc.	+582	32,278	$2,809,477
EXPE	Expedia Group, Inc.	+352	10,199	$2,609,720
AXP	American Express Co	+260	7,648	$2,586,936
AAPL	Apple Inc.	+211	9,296	$2,689,890
REGN	Regeneron Pharmaceuticals, Inc.	+147	3,083	$1,922,373
UTHR	UNITED THERAPEUTICS Corp	+109	4,349	$2,356,418
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
NMAR		−30,193	1,293,733	$41,675,021
NVDA	Nvidia Corp	−22,081	35,946	$7,192,435
NOCT		−16,726	105,583	$6,601,577
QQQ	Invesco Qqq Trust, Series 1	−9,731	12,405	$9,135,042
CLS	Celestica Inc	−4,815	3,184	$1,161,523
AMAT	Applied Materials Inc	−3,235	3,028	$2,189,244
FSLR	First Solar, Inc.	−2,127	9,234	$2,178,854
NNOV		−1,848	81,081	$2,549,754
META	Meta Platforms, Inc.	−1,521	2,064	$1,162,630
LLY	ELI LILLY & Co	−811	1,480	$1,775,156
MOAT	VanEck Morningstar Wide Moat ETF	−586	21,775	$2,263,729
TSM	Taiwan Semiconductor Manufacturing Co Ltd	−453	5,990	$2,860,644
EVR	Evercore Inc.	−328	7,566	$2,583,335
No positions match the current search.

New Positions

Positions the filer opened this quarter

18 positions

Ticker	Company	Shares	Value
MSFT	Microsoft Corp	8,590	$3,204,241
NJUN		92,876	$3,051,905
ANET	Arista Networks, Inc.	16,919	$2,874,199
MRSH	Marsh & Mclennan Companies, Inc.	15,375	$2,562,551
NBIX	Neurocrine Biosciences Inc	15,167	$2,556,246
FERG	Ferguson Enterprises Inc.	10,742	$2,549,398
NOW	ServiceNow, Inc.	25,359	$2,517,641
AVGO	Broadcom Inc.	6,663	$2,516,948
LGN	Legence Corp.	28,832	$2,457,351
GILD	Gilead Sciences, Inc.	19,358	$2,445,689
UAL	United Airlines Holdings, Inc.	10,803	$1,469,099
NMAY		49,518	$1,463,405
CDP	Copt Defense Properties	37,872	$1,378,162
MTZ	Mastec Inc	3,150	$1,310,589
SGHC	Super Group (SGHC) Ltd	91,693	$1,242,440
VRT	Vertiv Holdings Co	3,585	$1,200,329
ZVRA	Zevra Therapeutics, Inc.	46,336	$664,458
MMM	3M Co	1,275	$206,435
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
PBR	Petrobras - Petroleo Brasileiro SA	120,245	$2,495,083
AMX	America Movil Sab De CV	93,198	$2,374,685
TEL	TE Connectivity plc	10,791	$2,255,534
AMD	Advanced Micro Devices Inc	11,048	$2,247,494
AEM	Agnico Eagle Mines Ltd	10,937	$2,219,992
NEM	NEWMONT Corp	20,477	$2,216,635
CBOE	Cboe Global Markets, Inc.	7,871	$2,212,301
SHOP	Shopify Inc.	18,444	$2,187,827
SCHW	Schwab Charles Corp	23,180	$2,178,456
RYAAY	Ryanair Holdings PLC	36,323	$2,099,469
RMBS	Rambus Inc	23,567	$2,027,469
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

49 tracked positions · $201,000,556 total · filing declares 49 positions · $200,999,567 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
NMAR		Reduced	1,293,733	-30,193	$41,675,021	+7.1%	2	$29.71	20.73%
RSP	Victory Portfolios II	Added	131,270	+34,414	$27,930,317	+50.3%	5	before history	13.90%
SPY	Spdr S&P 500 ETF Trust	Added	25,435	+748	$18,994,094	+18.3%	4	$659.85	9.45%
QQQ	Invesco Qqq Trust, Series 1	Reduced	12,405	-9,731	$9,135,042	−28.5%	3	$610.58	4.54%
NVDA	Nvidia Corp Technology	Reduced	35,946	-22,081	$7,192,435	−28.9%	5	before history	3.58%
NOCT		Reduced	105,583	-16,726	$6,601,577	−4.2%	3	$57.36	3.28%
GOOG	Alphabet Inc. Communication Services	Added	10,706	+3,218	$3,782,750	+76.1%	2	$327.15	1.88%
MSFT	Microsoft Corp Technology	NEW	8,590	NEW	$3,204,241	NEW	1	$404.60	1.59%
APH	Amphenol Corp Technology	Added	17,636	+660	$3,109,579	+45.0%	5	before history	1.55%
NJUN		NEW	92,876	NEW	$3,051,905	NEW	1	$32.54	1.52%
ANET	Arista Networks, Inc. Technology	NEW	16,919	NEW	$2,874,199	NEW	1	$157.08	1.43%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	5,990	-453	$2,860,644	+31.4%	5	before history	1.42%
INCY	Incyte Corp Healthcare	Added	24,786	+829	$2,809,740	+24.6%	2	$99.76	1.40%
IBKR	Interactive Brokers Group, Inc. Financial Services	Added	32,278	+582	$2,809,477	+32.2%	2	$71.59	1.40%
AAPL	Apple Inc. Technology	Added	9,296	+211	$2,689,890	+16.7%	5	before history	1.34%
EXPE	Expedia Group, Inc. Consumer Cyclical	Added	10,199	+352	$2,609,720	+14.8%	2	$245.34	1.30%
AXP	American Express Co Financial Services	Added	7,648	+260	$2,586,936	+15.8%	2	$334.78	1.29%
EVR	Evercore Inc. Financial Services	Reduced	7,566	-328	$2,583,335	+9.6%	2	$327.43	1.29%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	NEW	15,375	NEW	$2,562,551	NEW	1	$167.16	1.27%
NBIX	Neurocrine Biosciences Inc Healthcare	NEW	15,167	NEW	$2,556,246	NEW	1	$148.36	1.27%
NNOV		Reduced	81,081	-1,848	$2,549,754	+10.4%	5	before history	1.27%
FERG	Ferguson Enterprises Inc. Industrials	NEW	10,742	NEW	$2,549,398	NEW	1	$241.26	1.27%
NOW	ServiceNow, Inc. Technology	NEW	25,359	NEW	$2,517,641	NEW	1	$99.01	1.25%
AVGO	Broadcom Inc. Technology	NEW	6,663	NEW	$2,516,948	NEW	1	$400.96	1.25%
LGN	Legence Corp. Industrials	NEW	28,832	NEW	$2,457,351	NEW	1	$81.48	1.22%
GILD	Gilead Sciences, Inc. Healthcare	NEW	19,358	NEW	$2,445,689	NEW	1	$131.76	1.22%
VUG	VANGUARD GROWTH INDEX FUND	Added	27,611	+22,887	$2,378,411	+15.3%	5	before history	1.18%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Added	4,349	+109	$2,356,418	−6.3%	3	$468.14	1.17%
O	Realty Income Corp Real Estate	Added	37,542	+1,779	$2,326,102	+6.3%	2	$62.59	1.16%
MOAT	VanEck Morningstar Wide Moat ETF	Reduced	21,775	-586	$2,263,729	+4.7%	5	before history	1.13%
AMAT	Applied Materials Inc Technology	Reduced	3,028	-3,235	$2,189,244	+2.3%	2	$336.38	1.09%
FSLR	First Solar, Inc. Technology	Reduced	9,234	-2,127	$2,178,854	−2.8%	2	$221.17	1.08%
REGN	Regeneron Pharmaceuticals, Inc. Healthcare	Added	3,083	+147	$1,922,373	−15.3%	2	$761.54	0.96%
PMAY		Held	45,945	0	$1,897,528	+3.4%	5	before history	0.94%
PJAN		Held	37,821	0	$1,871,761	+7.3%	5	before history	0.93%
LLY	ELI LILLY & Co Healthcare	Reduced	1,480	-811	$1,775,156	−15.8%	2	$1,013.81	0.88%
UAL	United Airlines Holdings, Inc. Industrials	NEW	10,803	NEW	$1,469,099	NEW	1	$103.58	0.73%
NMAY		NEW	49,518	NEW	$1,463,405	NEW	1	$28.99	0.73%
CDP	Copt Defense Properties Real Estate	NEW	37,872	NEW	$1,378,162	NEW	1	$32.52	0.69%
MTZ	Mastec Inc Industrials	NEW	3,150	NEW	$1,310,589	NEW	1	$382.29	0.65%
SGHC	Super Group (SGHC) Ltd Consumer Cyclical	NEW	91,693	NEW	$1,242,440	NEW	1	$12.67	0.62%
NFEB		Held	39,658	0	$1,203,223	+10.8%	2	$28.05	0.60%
VRT	Vertiv Holdings Co Industrials	NEW	3,585	NEW	$1,200,329	NEW	1	$317.15	0.60%
META	Meta Platforms, Inc. Communication Services	Reduced	2,064	-1,521	$1,162,630	−43.3%	5	before history	0.58%
CLS	Celestica Inc Technology	Reduced	3,184	-4,815	$1,161,523	−48.4%	2	$290.15	0.58%
ZVRA	Zevra Therapeutics, Inc. Healthcare	NEW	46,336	NEW	$664,458	NEW	1	$11.12	0.33%
LRCX	Lam Research Corp Technology	Held	1,104	0	$478,396	+102.8%	3	$155.53	0.24%
NJAN		Held	4,131	0	$243,811	+10.6%	5	before history	0.12%
MMM	3M Co Industrials	NEW	1,275	NEW	$206,435	NEW	1	$151.57	0.10%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.