Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +53.1%
S&P 500 total return (same window) +37.0%
Excess return +16.1%

Annualized: +40.6% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 96.2% · Options excluded: 0.0%

Sector breakdown

04
Industrials 23.9%
Technology 14.0%
Materials 12.8%
Financials 9.2%
Consumer Staples 6.5%
Consumer Discretionary 6.3%
Communication Services 5.3%
Healthcare 4.3%
Energy 3.0%
Consumer products 2.4%
Utilities 2.4%
Retail 1.9%
Real Estate 1.3%
Other/Unmapped 6.6%

Full portfolio 136 positions

05
Type Streak 8Q trend
MYE Myers Industries, Inc. Common Stock $65,601,495 6.54% 1,857,873 $33,286,830 Up ×4
OPLN OPENLANE, Inc. Common Stock $63,243,891 6.31% 1,533,557 $25,884,901 Up ×6
TRS TriMas Corporation - Common Stock $54,557,763 5.44% 1,211,587 $14,316,248 Up ×3
TSM Taiwan Semiconductor Manufacturing Company Ltd. $40,332,219 4.02% 84,453 $12,692,978 Up ×1
BELFB Bel Fuse Inc. - Class B Common Stock $39,264,084 3.92% 117,896 $15,632,399 Down ×4
PRSU Pursuit Attractions and Hospitality, Inc. Common Stock $36,808,558 3.67% 657,648 $12,441,256 Down ×3
GOOGL Alphabet Inc. - Class A Common Stock $33,887,253 3.38% 94,824 $7,069,120 Up ×2
KDP Keurig Dr Pepper Inc. - Common Stock $28,402,145 2.83% 867,771 $6,303,455 Up ×5
JBTM JBT Marel Corporation Common Stock $27,531,005 2.75% 189,869 $9,533,686 Up ×2
DJCO Daily Journal Corp. (S.C.) - Common Stock $24,955,397 2.49% 41,510 $4,758,374 Down ×2
AVGO Broadcom Inc. - Common Stock $24,740,736 2.47% 65,495 $5,028,973 Up ×1
LEGH Legacy Housing Corporation - Common Stock $24,175,913 2.41% 920,286 $5,271,645 Down ×1
MTG MGIC Investment Corporation Common Stock $23,038,046 2.30% 816,952 $2,187,067 Up ×5
PM Philip Morris International Inc Common Stock $22,092,729 2.20% 122,120 $2,326,332 Up ×1
NPK National Presto Industries, Inc. Common Stock $20,218,882 2.02% 161,764 $-15,834 Up ×1
AEP American Electric Power Company, Inc. - Common Stock $20,090,001 2.00% 146,846 $1,596,579 Up ×5
ABBV AbbVie Inc. Common Stock $19,146,029 1.91% 76,085 $3,253,600 Up ×5
TPR Tapestry, Inc. Common Stock $18,658,180 1.86% 127,464 $1,135,705 Up ×1
ACVA ACV Auctions Inc. Class A Common Stock $18,061,079 1.80% 2,511,972 $5,219,637 Down ×1
MSFT Microsoft Corporation - Common Stock $16,289,783 1.63% 43,670 $469,828 Up ×2
LTM LATAM Airlines Group S.A. American Depositary Shares (each representing two thousand (2,000) shares of Common Stock) $15,967,262 1.59% 274,022 $11,096,285 Up ×1
CME CME Group Inc. - Class A Common Stock $14,815,043 1.48% 67,088 $-4,274,018 Up ×6
KB KB Financial Group Inc $14,233,311 1.42% 135,607 $1,207,277 Up ×5
LAMR Lamar Advertising Company - Class A Common Stock $12,909,841 1.29% 82,766 $3,329,152 Up ×5
HUBB Hubbell Inc Common Stock $12,787,531 1.28% 24,441 $1,118,225 Up ×5
GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares) $11,305,107 1.13% 215,664 $30,783 Up ×1
MPC Marathon Petroleum Corporation Common Stock $10,295,320 1.03% 40,268 $775,474 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $10,246,808 1.02% 18,191 $199,633 Up ×2
MTDR Matador Resources Company Common Stock $9,342,412 0.93% 187,674 $-6,167,014 Down ×1
CMCSA Comcast Corporation - Class A Common Stock $9,244,401 0.92% 376,554 $-1,189,617 Up ×1
BTI British American Tobacco Industries, p.l.c. Common Stock ADR $8,612,617 0.86% 139,453 $998,010 Up ×3
LRCX Lam Research Corporation - Common Stock $8,590,334 0.86% 19,824 $4,327,603 Down ×2
APA APA Corporation - Common Stock $8,514,287 0.85% 261,415 $-7,330,560 Down ×1
FERG Ferguson Enterprises Inc. Common Stock $7,875,559 0.79% 33,184 $442,496 Up ×1
SGOV iShares Trust $7,724,409 0.77% 76,730 $1,673,636 Up ×1
INTU Intuit Inc. - Common Stock $7,423,623 0.74% 28,443 $-4,357,435 Up ×1
VUSB Vanguard Ultra-Short Bond ETF $5,981,167 0.60% 120,152 $1,902,780 Up ×4
PFGC Performance Food Group Company Common Stock $5,874,452 0.59% 52,549 $1,270,056 Down ×5
NIC Nicolet Bankshares Inc. Common Stock $5,860,429 0.58% 35,434 $485,884 Down ×6
MPTI CUSIP: 55380K109 $5,850,941 0.58% 59,011 $2,472,141 Up ×2
DAC Danaos Corporation Common Stock $5,801,806 0.58% 47,412 $461,882 Up ×6
VCSH Vanguard Short-Term Corporate Bond ETF $5,021,882 0.50% 63,544 $1,340,980 Up ×6
STLD Steel Dynamics, Inc. - Common Stock $4,803,516 0.48% 20,934 $1,021,356 Down ×2
SSB SouthState Bank Corporation Common Stock $4,640,055 0.46% 46,447 $283,473 Down ×3
VGSH Vanguard Short-Term Treasury ETF $4,554,907 0.45% 78,263 $477,186 Up ×1
Unknown issuer (CUSIP: 59739R104) $4,428,560 0.44% 110,714 Up ×1
VCIT Vanguard Intermediate-Term Corporate Bond ETF $4,228,870 0.42% 51,166 $9,778 Up ×2
ACA Arcosa, Inc. Common Stock $4,191,035 0.42% 28,846 $860,998 Down ×3
SHV iShares 0-1 Year Treasury Bond ETF $4,095,861 0.41% 37,117 $-1,485
ACMR ACM Research, Inc. - Class A Common Stock $3,645,803 0.36% 28,732 $2,532,237 Up ×3
CALM Cal-Maine Foods, Inc. - Common Stock $3,593,943 0.36% 44,612 $1,879 Down ×1
VVV Valvoline Inc. Common Stock $3,583,787 0.36% 90,637 $432,787 Down ×1
RSP Invesco Exchange-Traded Fund Trust $3,491,026 0.35% 16,408 $342,602 Up ×3
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF $3,331,809 0.33% 63,572 $997,199 Up ×2
AMGN Amgen Inc. - Common Stock $3,186,656 0.32% 8,800 $82,635 Down ×2
NTAP NetApp, Inc. - Common Stock $3,186,199 0.32% 20,588 $1,062,938 Down ×2
HQY HealthEquity, Inc. - Common Stock $3,163,548 0.32% 35,026 $87,420 Down ×1
HD Home Depot, Inc. (The) Common Stock $3,156,486 0.31% 8,950 $172,138 Down ×3
AAPL Apple Inc. - Common Stock $3,123,641 0.31% 10,795 $358,599 Down ×2
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF $3,071,152 0.31% 57,761 $-2,888
EME EMCOR Group, Inc. Common Stock $2,990,058 0.30% 3,603 $314,423 Down ×2
TAP Molson Coors Beverage Company Class B Common Stock $2,922,273 0.29% 75,007 $-316,959 Down ×2
JEF Jefferies Financial Group Inc. Common Stock $2,907,236 0.29% 58,168 $429,467 Down ×1
BOW Bowhead Specialty Holdings Inc. Common Stock $2,896,266 0.29% 96,768 $2,139,926 Up ×1
FRME First Merchants Corporation - Common Stock $2,853,612 0.28% 65,315 $234,147 Down ×6
EXP Eagle Materials Inc Common Stock $2,832,300 0.28% 12,588 $367,366 Down ×4
ALKT Alkami Technology, Inc. - Common Stock $2,821,484 0.28% 155,711 $301,889 Down ×1
VIG Vanguard Div Appreciation ETF $2,758,516 0.28% 11,658 $251,347
LMT Lockheed Martin Corporation Common Stock $2,722,045 0.27% 5,343 $-536,826 Down ×2
VOO Vanguard S&P 500 ETF $2,707,405 0.27% 3,942 $350,070 Down ×4
TEX Terex Corporation Common Stock $2,454,889 0.24% 33,912 $385,030 Down ×1
WAL Western Alliance Bancorporation Common Stock (DE) $2,145,256 0.21% 26,098 $291,607 Down ×3
AAP Advance Auto Parts Inc. $2,122,324 0.21% 34,110 $329,721 Up ×1
CDW CDW Corporation - Common Stock $2,077,393 0.21% 14,771 $658,312 Up ×3
NVT nVent Electric plc Ordinary Shares $2,063,814 0.21% 12,168 $628,723 Up ×6
ABG Asbury Automotive Group Inc Common Stock $2,040,761 0.20% 10,149 $-205,477 Down ×6
SGHC Super Group (SGHC) Limited Ordinary Shares $1,928,815 0.19% 142,348 $403,175 Up ×3
FLYW Flywire Corporation - Voting Common Stock $1,844,762 0.18% 104,995 $581,659 Down ×3
ACN Accenture plc Class A Ordinary Shares (Ireland) $1,773,892 0.18% 14,255 $-696,405 Up ×2
ARES Ares Management Corporation Class A Common Stock $1,763,818 0.18% 15,846 $38,838 Up ×1
VEA Vanguard FTSE Developed Markets ETF $1,756,455 0.18% 24,652 $198,286 Up ×2
XBI SPDR SERIES TRUST $1,751,986 0.17% 11,071 $349,383 Up ×1
NRG NRG Energy, Inc. Common Stock $1,750,237 0.17% 11,983 $11,317 Up ×6
ORCL Oracle Corporation Common Stock $1,732,368 0.17% 11,821 $-28,686 Down ×2
TNC Tennant Company Common Stock $1,731,454 0.17% 19,779 $376,230 Down ×1
JPM JP Morgan Chase & Co. Common Stock $1,710,954 0.17% 5,227 $171,321 Down ×6
MTN Vail Resorts, Inc. Common Stock $1,657,490 0.17% 12,174 $47,716 Down ×2
AX Axos Financial, Inc. Common Stock $1,656,701 0.17% 17,011 $217,233 Up ×1
MBB iShares MBS ETF $1,655,801 0.17% 17,518 $-7,533
BAC Bank of America Corporation Common Stock $1,633,389 0.16% 28,666 $244,648 Up ×1
UNM Unum Group Common Stock $1,624,934 0.16% 18,176 $304,333 Up ×6
VO Vanguard Morningstar Mid-Cap ETF $1,616,154 0.16% 20,059 $190,018 Up ×1
ESI Element Solutions Inc. Common Stock $1,603,302 0.16% 33,577 $182,498 Down ×4
SNX TD SYNNEX Corporation Common Stock $1,598,159 0.16% 5,978 $585,393 Down ×1
UNP Union Pacific Corporation Common Stock $1,565,904 0.16% 5,757 $168,655 Down ×2
EHC Encompass Health Corporation Common Stock $1,541,167 0.15% 15,247 $77,836 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,530,193 0.15% 3,058 $77,738 Up ×1
ALSN Allison Transmission Holdings, Inc. Common Stock $1,502,373 0.15% 13,326 $-47,150 Up ×6
SR Spire Inc. Common Stock $1,488,630 0.15% 19,063 $-227,284 Up ×6
RRX Regal Rexnord Corporation Common Stock $1,457,008 0.15% 6,117 $311,164 Down ×5

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
MYE $65,601,495 6.54% up ×4
OPLN $63,243,891 6.31% up ×6
TRS $54,557,763 5.44% up ×3
KDP $28,402,145 2.83% up ×5
MTG $23,038,046 2.30% up ×5
AEP $20,090,001 2.00% up ×5
ABBV $19,146,029 1.91% up ×5
CME $14,815,043 1.48% up ×6
KB $14,233,311 1.42% up ×5
LAMR $12,909,841 1.29% up ×5
HUBB $12,787,531 1.28% up ×5
BTI $8,612,617 0.86% up ×3
VUSB $5,981,167 0.60% up ×4
DAC $5,801,806 0.58% up ×6
VCSH $5,021,882 0.50% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 59739R104) $4,428,560 110,714 0.44%
ACWI $351,206 2,237 0.04%
Unknown issuer (CUSIP: 22978P205) $270,564 8,573 0.03%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MYE Bought more +332K +$33.3M
OPLN Bought more +252K +$25.9M
BELFB Trimmed -1K +$15.6M
TRS Bought more +92K +$14.3M
TSM Bought more +3K +$12.7M
PRSU Trimmed -8K +$12.4M
LTM Bought more +175K +$11.1M
JBTM Bought more +49K +$9.5M
APA Trimmed -112K -$7.3M
GOOGL Bought more +2K +$7.1M

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
SSB (filed as SSBXXXX) Sept. 30, 2025 146,929 $13,521,845 2.2%
ACWI June 30, 2025 100,374 $11,682,580
EEX June 30, 2026 1,867,195 $8,421,050 No longer tracked
VZ Dec. 31, 2025 185,405 $8,148,540 12.5%
UL (filed as ULXXXX) Dec. 31, 2025 107,227 $6,356,402 -8.7%
UL March 31, 2026 96,671 $6,322,283 4.8%
CNNE June 30, 2025 300,000 $5,499,000 -25.2%
HMC March 31, 2026 142,234 $4,193,066 31.4%
BELFA Dec. 31, 2025 28,250 $3,286,888 37.2%
PBI Dec. 31, 2025 272,687 $3,111,359 60.2%
REVG March 31, 2026 47,204 $2,870,476 No longer tracked
MLR Sept. 30, 2025 60,752 $2,701,034 33.8%
PHIN June 30, 2026 37,203 $2,546,174 -27.5%
MCRI Dec. 31, 2025 23,567 $2,494,331 23.3%
ACWI March 31, 2026 16,180 $2,289,257
DSGR Sept. 30, 2025 82,131 $2,256,138 16.4%
DRVN March 31, 2026 146,201 $2,166,699 -8.0%
TTGT June 30, 2025 118,620 $1,756,762 -53.1%
NCNO March 31, 2026 65,965 $1,691,343 27.2%
CASS Sept. 30, 2025 38,439 $1,670,175 37.3%
AEO Sept. 30, 2025 159,133 $1,530,859 3.1%
ALG June 30, 2025 8,211 $1,463,282 -26.0%
SKY June 30, 2025 14,701 $1,393,066 39.5%
ATR June 30, 2025 9,314 $1,382,012 -23.5%
FND June 30, 2025 17,044 $1,371,530 -40.3%
HHH June 30, 2025 18,294 $1,355,219 6.2%
GO Dec. 31, 2025 83,315 $1,337,206 13.9%
BC June 30, 2025 24,676 $1,328,803 18.0%
IWM March 31, 2026 5,364 $1,320,402 13.2%
OUT June 30, 2025 79,080 $1,276,351 74.4%
OSW March 31, 2026 58,171 $1,206,466 1.9%
GTES March 31, 2026 51,984 $1,116,096 23.0%
HI Dec. 31, 2025 37,868 $1,023,951 No longer tracked
XOM June 30, 2025 8,363 $994,612 51.5%
WSR March 31, 2026 66,829 $928,255 No longer tracked
SHY March 31, 2026 11,154 $923,774
CPRT June 30, 2026 27,788 $922,562 -4.2%
UFPI March 31, 2026 10,063 $916,236 -15.8%
ALTG June 30, 2025 183,844 $862,228 3.2%
HRB March 31, 2026 17,526 $763,783 34.3%
PI March 31, 2026 3,873 $673,941 84.0%
ARCC Dec. 31, 2025 32,181 $656,814 -6.3%
BRBR March 31, 2026 23,379 $624,921 -51.9%
ADUS March 31, 2026 5,623 $603,854 19.9%
RS March 31, 2026 1,892 $546,542 33.5%
ORRF Sept. 30, 2025 15,833 $503,964 21.8%
SAIC Dec. 31, 2025 5,061 $502,912 24.6%
OC Dec. 31, 2025 3,270 $462,574 4.6%
NEE June 30, 2025 6,485 $459,722 9.7%
BXSL Dec. 31, 2025 12,355 $322,095 -10.0%
MICC March 31, 2026 18,967 $300,627 15.1%
RYZ Dec. 31, 2025 12,733 $291,076 4.7%
CTLP March 31, 2026 24,860 $264,013 No longer tracked
TSLX Dec. 31, 2025 10,338 $236,327 -17.2%
HTGC Dec. 31, 2025 11,836 $223,819 -10.7%
MAIN Dec. 31, 2025 3,471 $220,721 -8.5%
FDUS Dec. 31, 2025 10,403 $210,765 0.2%
FLUT Dec. 31, 2025 811 $205,994 -64.6%
FSK Dec. 31, 2025 10,057 $150,151 -25.3%
CGBD Dec. 31, 2025 11,340 $141,750 -14.3%
CUE June 30, 2026 257,225 $59,136 -24.9%