Performance vs S&P 500

03
Tracked Q4 2025–Q2 2026 +42.9%
S&P 500 total return (same window) +8.7%
Excess return +34.2%

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: 94.3% · Options excluded: 0.0%

Sector breakdown

04
Industrials 69.1%
Materials 9.0%
Technology 7.2%
Consumer Staples 4.3%
Healthcare 2.6%
Energy 2.0%
Retail 1.4%
Other/Unmapped 4.3%

Full portfolio 19 positions

05
Type Streak 8Q trend
COHR Coherent Corp. Common Stock $28,729,250 18.11% 72,830 $7,290,826 Down ×2
GHM Graham Corporation Common Stock $22,410,323 14.13% 181,035 $6,481,189 Down ×2
MRCY Mercury Systems Inc - Common Stock $12,526,959 7.90% 102,403 $4,606,600 Down ×2
GXO GXO Logistics, Inc. Common Stock $10,455,658 6.59% 206,226 $3,009 Up ×1
QXO QXO, Inc. Common Stock $8,802,849 5.55% 42,434 $6,369,309 Down ×1
CDRE Cadre Holdings, Inc. Common Stock $7,338,731 4.63% 257,409 $781,556 Up ×2
Unknown issuer (CUSIP: 866966104) $6,855,813 4.32% 91,643 $1,244,186 Up ×1
NPO Enpro Inc. Common Stock $6,846,933 4.32% 18,165 $896,251 Down ×2
WEST Westrock Coffee Company - Common Stock $6,803,041 4.29% 838,846 $3,237,945
TYL Tyler Technologies, Inc. Common Stock $6,766,355 4.27% 23,136 $1,017,110 Up ×2
XPO XPO, Inc. Common Stock $6,634,562 4.18% 32,318 $-166,906 Down ×2
CF CF Industries Holdings, Inc. Common Stock $6,199,509 3.91% 57,265 $-1,235,779
DSGR Distribution Solutions Group, Inc. - Common Stock $5,938,588 3.74% 217,133 $241,018
WLK Westlake Corporation Common Stock $5,216,945 3.29% 71,465 $-3,227,155 Down ×1
ADBE Adobe Inc. - Common Stock $4,705,414 2.97% 22,951 Up ×1
AVTR Avantor, Inc. Common Stock $4,107,490 2.59% 414,898 $854,690
PSX Phillips 66 Common Stock $3,173,196 2.00% 183,634 $-416,114 Up ×1
SW Smurfit WestRock plc Ordinary Shares $2,869,323 1.81% 62,026 $397,587
ULTA Ulta Beauty, Inc. - Common Stock $2,255,351 1.42% 5,001 $-52,414 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ADBE $4,705,414 22,951 2.97%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
COHR Trimmed -17K +$7.3M
GHM Trimmed -21K +$6.5M
QXO Trimmed -83K +$6.4M
MRCY Trimmed -6K +$4.6M
WEST Price move only +0 +$3.2M
WLK Trimmed -818 -$3.2M
· Bought more +2K +$1.2M
CF Price move only +0 -$1.2M
TYL Bought more +6K +$1.0M
NPO Trimmed -6K +$896K

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
AL March 31, 2026 70,631 $4,552,168 No longer tracked