CDKV HOLDINGS LLC

CDKV Holdings’ $114M 13F book is a factor-tilted ETF wrapper whose quarterly activity tells a clear story: the manager dialed back its pure-growth sleeve, added international and defensive positioning, and introduced a small but explicit national-security tilt. SCHG (Schwab Large-Cap Growth), previously the largest holding at 19.2%, was reduced to 17.1% on a $3.6M cut. VUG (Vanguard Growth) shares were increased 28.9%, but that was funded by trimming the higher-conviction growth sleeve rather than adding new risk. The portfolio’s value and dividend factors—SCHV, VTV, DVY—all saw increases, while IEFA (international developed) and SCHE (international small-cap) entered as new positions. The most distinctive move was the addition of three defense-related names: Palantir Technologies ($414K), Lockheed Martin ($412K), and Johnson & Johnson ($390K). These are not large relative to the $114M book, but they are the only individual-stock convictions expressed in the filing. The fund also added JPMorgan ($371K) and exited Meta entirely, replacing a prior QQQ position with a new one. The overall rotation is away from concentrated U.S. growth and toward a more balanced factor mix with an international and defense overlay.