Element Squared LLC

MINNEAPOLIS, MN · CIK 2086643 · 13F filing filed 2026-07-28

SEC-registered investment adviser since 2023 · limited liability company

Assets managed$203.5m
Staff7 · 6 in investment roles
Main clients (by assets)High net worth individuals 53%, Individuals 47%
Websiteelementsquared.com
Form ADV · 2026-09-15SEC adviser record

$201.0m reported value +13.4% vs Q1 2026

49positions

62.0%in top 10

18 new 12 added 14 reduced 11 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	INNOVATOR ETFS TRUST GROWTH 100 PWR B NMAR	NMAR	1,293,733	$41.7m20.73%	20.73%	Reduced -30.2k	-30,193 -2.3%
2	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	131,270	$27.9m13.90%	13.90%	Added +34.4k	+34,414 35.5%
3	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	25,435	$19.0m9.45%	9.45%	Added +748	+748 3.0%
4	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	12,405	$9.1m4.54%	4.54%	Reduced -9.7k	-9,731 -44.0%
5	NVIDIA CORPORATION COM NVDA	NVDA	35,946	$7.2m3.58%	3.58%	Reduced -22.1k	-22,081 -38.0%
6	INNOVATOR ETFS TRUST GRWT100 PWR BUF NOCT	NOCT	105,583	$6.6m3.28%	3.28%	Reduced -16.7k	-16,726 -13.7%
7	ALPHABET INC CAP STK CL C GOOG	GOOG	10,706	$3.8m1.88%	1.88%	Added +3.2k	+3,218 43.0%
8	MICROSOFT CORP COM MSFT	MSFT	8,590	$3.2m1.59%	1.59%	New
9	AMPHENOL CORP CL A APH	APH	17,636	$3.1m1.55%	1.55%	Added +660	+660 3.9%
10	INNOVATOR ETFS TRUST INNOVATOR GW 100 NJUN	NJUN	92,876	$3.1m1.52%	1.52%	New
11	ARISTA NETWORKS INC COM SHS ANET	ANET	16,919	$2.9m1.43%	1.43%	New
12	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	5,990	$2.9m1.42%	1.42%	Reduced -453	-453 -7.0%
13	INCYTE CORP COM INCY	INCY	24,786	$2.8m1.40%	1.40%	Added +829	+829 3.5%
14	INTERACTIVE BROKERS GROUP IN COM CL A IBKR	IBKR	32,278	$2.8m1.40%	1.40%	Added +582	+582 1.8%
15	APPLE INC COM AAPL	AAPL	9,296	$2.7m1.34%	1.34%	Added +211	+211 2.3%
16	EXPEDIA GROUP INC COM NEW EXPE	EXPE	10,199	$2.6m1.30%	1.30%	Added +352	+352 3.6%
17	AMERICAN EXPRESS CO COM AXP	AXP	7,648	$2.6m1.29%	1.29%	Added +260	+260 3.5%
18	EVERCORE INC CLASS A EVR	EVR	7,566	$2.6m1.29%	1.29%	Reduced -328	-328 -4.2%
19	MARSH & MCLENNAN COS INC COM MRSH	MRSH	15,375	$2.6m1.27%	1.27%	New
20	NEUROCRINE BIOSCIENCES INC COM NBIX	NBIX	15,167	$2.6m1.27%	1.27%	New
21	INNOVATOR ETFS TRUST GROWTH 100 PWR B NNOV	NNOV	81,081	$2.5m1.27%	1.27%	Reduced -1.8k	-1,848 -2.2%
22	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	10,742	$2.5m1.27%	1.27%	New
23	SERVICENOW INC COM NOW	NOW	25,359	$2.5m1.25%	1.25%	New
24	BROADCOM INC COM AVGO	AVGO	6,663	$2.5m1.25%	1.25%	New
25	LEGENCE CORP CL A LGN	LGN	28,832	$2.5m1.22%	1.22%	New
26	GILEAD SCIENCES INC COM GILD	GILD	19,358	$2.4m1.22%	1.22%	New
27	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	27,611	$2.4m1.18%	1.18%	Reduced -733	-733 -2.6%
28	UNITED THERAPEUTICS CORP DEL COM UTHR	UTHR	4,349	$2.4m1.17%	1.17%	Added +109	+109 2.6%
29	REALTY INCOME CORP COM O	O	37,542	$2.3m1.16%	1.16%	Added +1.8k	+1,779 5.0%
30	VANECK ETF TRUST MRNGSTR WDE MOAT MOAT	MOAT	21,775	$2.3m1.13%	1.13%	Reduced -586	-586 -2.6%
31	APPLIED MATLS INC COM AMAT	AMAT	3,028	$2.2m1.09%	1.09%	Reduced -3.2k	-3,235 -51.6%
32	FIRST SOLAR INC COM FSLR	FSLR	9,234	$2.2m1.08%	1.08%	Reduced -2.1k	-2,127 -18.7%
33	REGENERON PHARMACEUTICALS COM REGN	REGN	3,083	$1.9m0.96%	0.96%	Added +147	+147 5.0%
34	INNOVATOR ETFS TRUST US EQTY PWR BUF PMAY	PMAY	45,945	$1.9m0.94%	0.94%	Unchanged
35	INNOVATOR ETFS TRUST US EQTY PWR BUF PJAN	PJAN	37,821	$1.9m0.93%	0.93%	Unchanged
36	ELI LILLY & CO COM LLY	LLY	1,480	$1.8m0.88%	0.88%	Reduced -811	-811 -35.4%
37	UNITED AIRLS HLDGS INC COM UAL	UAL	10,803	$1.5m0.73%	0.73%	New
38	INNOVATOR ETFS TRUST GROW 100 PWR BUF NMAY	NMAY	49,518	$1.5m0.73%	0.73%	New
39	COPT DEFENSE PROPERTIES SHS BEN INT CDP	CDP	37,872	$1.4m0.69%	0.69%	New
40	MASTEC INC COM MTZ	MTZ	3,150	$1.3m0.65%	0.65%	New
41	SUPER GROUP SGHC LIMITED ORD SHS SGHC	SGHC	91,693	$1.2m0.62%	0.62%	New
42	INNOVATOR ETFS TRUST INNOVATOR GW 100 NFEB	NFEB	39,658	$1.2m0.60%	0.60%	Unchanged
43	VERTIV HOLDINGS CO COM CL A VRT	VRT	3,585	$1.2m0.60%	0.60%	New
44	META PLATFORMS INC CL A META	META	2,064	$1.2m0.58%	0.58%	Reduced -1.5k	-1,521 -42.4%
45	CELESTICA INC COM CLS	CLS	3,184	$1.2m0.58%	0.58%	Reduced -4.8k	-4,815 -60.2%
46	ZEVRA THERAPEUTICS INC COM NEW ZVRA	ZVRA	46,336	$664.5k0.33%	0.33%	New
47	LAM RESEARCH CORP COM NEW LRCX	LRCX	1,104	$478.5k0.24%	0.24%	Unchanged
48	INNOVATOR ETFS TRUST GRWT100 PWR BF NJAN	NJAN	4,131	$243.8k0.12%	0.12%	Unchanged
49	3M CO COM MMM	MMM	1,275	$206.4k0.10%	0.10%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
PETROLEO BRASILEIRO SA PETRO PBR	PBR	120,245	$2.5m120.2k shares
AMERICA MOVIL SAB DE CV AMX	AMX	93,198	$2.4m93.2k shares
TE CONNECTIVITY PLC TEL	TEL	10,791	$2.3m10.8k shares
ADVANCED MICRO DEVICES INC AMD	AMD	11,048	$2.2m11.0k shares
AGNICO EAGLE MINES LTD AEM	AEM	10,937	$2.2m10.9k shares
NEWMONT CORP NEM	NEM	20,477	$2.2m20.5k shares
CBOE GLOBAL MKTS INC CBOE	CBOE	7,871	$2.2m7.9k shares
SHOPIFY INC SHOP	SHOP	18,444	$2.2m18.4k shares
SCHWAB CHARLES CORP SCHW	SCHW	23,180	$2.2m23.2k shares
RYANAIR HOLDINGS PLC RYAAY	RYAAY	36,323	$2.1m36.3k shares
RAMBUS INC DEL RMBS	RMBS	23,567	$2.0m23.6k shares