Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +26.1%
S&P 500 total return (same window) +37.0%
Excess return -10.9%

Annualized: +20.4% · 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: 95.5% · Options excluded: 0.0%

Sector breakdown

04
Technology 12.9%
Financials 9.0%
Healthcare 7.6%
Industrials 7.4%
Communication Services 7.2%
Retail 4.4%
Energy 2.6%
Consumer Staples 2.3%
Consumer Discretionary 2.1%
Consumer products 1.3%
Materials 1.1%
Real Estate 0.7%
Utilities 0.3%
Other/Unmapped 40.9%

Full portfolio 127 positions

05
Type Streak 8Q trend
IJH iShares Trust $23,981,287 8.95% 311,001 $1,602,993 Down ×5
IWM iShares Russell 2000 Index Fund $21,822,285 8.14% 72,632 $3,040,997 Down ×3
SPY SPY $21,210,508 7.91% 28,403 $2,415,032 Down ×2
EFA iShares Trust $18,623,087 6.95% 179,275 $3,102,199 Up ×3
AAPL Apple Inc. - Common Stock $10,976,292 4.09% 37,933 $846,010 Down ×6
GOOG Alphabet Inc. - Class C Capital Stock $8,688,739 3.24% 24,591 $1,092,112 Down ×6
MSFT Microsoft Corporation - Common Stock $7,411,907 2.77% 19,870 $-151,777 Down ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $6,817,814 2.54% 13,625 $296,382 Up ×1
IJR iShares Trust $6,175,332 2.30% 41,638 $1,020,320 Up ×1
V Visa Inc. $5,562,175 2.08% 16,212 $522,021 Down ×2
NVDA NVIDIA Corporation - Common Stock $4,786,153 1.79% 23,920 $769,198 Up ×3
JNJ Johnson & Johnson Common Stock $4,657,048 1.74% 18,337 $-57,711 Down ×6
IJK iShares Trust $4,464,765 1.67% 37,998 $604,579 Down ×1
AMZN Amazon.com, Inc. - Common Stock $3,951,916 1.47% 16,581 $166,400 Down ×2
GS Goldman Sachs Group, Inc. (The) Common Stock $3,898,831 1.45% 3,855 $492,875 Down ×2
IJJ iShares Trust $3,801,832 1.42% 25,735 $352,327 Down ×1
CVX Chevron Corporation Common Stock $3,198,836 1.19% 19,298 $-950,751 Down ×1
ABT Abbott Laboratories Common Stock $3,190,600 1.19% 35,162 $-515,685 Down ×1
ITW Illinois Tool Works Inc. Common Stock $3,059,828 1.14% 11,313 $70,657 Down ×1
PG Procter & Gamble Company (The) Common Stock $2,985,443 1.11% 20,359 $-88,818 Down ×1
XOM Exxon Mobil Corporation Common Stock $2,861,960 1.07% 20,933 $-865,300 Down ×1
HD Home Depot, Inc. (The) Common Stock $2,818,266 1.05% 7,991 $131,234 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $2,789,630 1.04% 7,806 $273,480 Down ×4
JPM JP Morgan Chase & Co. Common Stock $2,651,700 0.99% 8,101 $203,700 Down ×2
PEP PepsiCo, Inc. - Common Stock $2,482,017 0.93% 18,331 $-462,282 Down ×3
SBUX Starbucks Corporation - Common Stock $2,385,728 0.89% 23,346 $160,581 Down ×3
TXN Texas Instruments Incorporated - Common Stock $2,379,791 0.89% 7,984 $679,319 Down ×1
SYK Stryker Corporation Common Stock $2,370,745 0.88% 7,530 $-180,757 Down ×6
LLY Eli Lilly and Company Common Stock $2,242,934 0.84% 1,870 $416,271 Down ×3
INTC Intel Corporation - Common Stock $2,200,290 0.82% 15,758 $1,338,210 Down ×5
DHR Danaher Corporation Common Stock $2,191,854 0.82% 11,507 $-45,805 Down ×6
KO Coca-Cola Company (The) Common Stock $2,187,301 0.82% 26,914 $32,880 Down ×6
COST Costco Wholesale Corporation - Common Stock $2,184,323 0.81% 2,335 $-212,091 Down ×6
WMT Walmart Inc. - Common Stock $2,051,139 0.77% 18,110 $-366,356 Down ×2
LIN Linde plc - Ordinary Shares $2,029,056 0.76% 3,910 $36,101 Down ×1
ADP Automatic Data Processing, Inc. - Common Stock $1,973,896 0.74% 8,814 $120,691 Down ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $1,954,293 0.73% 4,702 $586,731 Down ×1
ASML ASML Holding N.V. - New York Registry Shares $1,947,662 0.73% 979 $626,832 Down ×1
CSCO Cisco Systems, Inc. - Common Stock $1,878,890 0.70% 15,996 $531,074 Down ×1
BAC Bank of America Corporation Common Stock $1,826,665 0.68% 32,058 $211,187 Down ×1
TMO Thermo Fisher Scientific Inc Common Stock $1,612,875 0.60% 3,217 $1,148 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $1,560,876 0.58% 2,771 $-72,556 Down ×1
IBM International Business Machines Corporation Common Stock $1,550,873 0.58% 5,515 $163,190 Down ×1
WM Waste Management, Inc. Common Stock $1,437,353 0.54% 6,449 $-89,142 Down ×2
EMR Emerson Electric Company Common Stock $1,340,313 0.50% 9,363 $85,272 Down ×1
AVGO Broadcom Inc. - Common Stock $1,334,213 0.50% 3,532 $165,503 Down ×1
DIS Walt Disney Company (The) Common Stock $1,319,299 0.49% 13,707 $-143,171 Down ×1
EAGG iShares Trust $1,290,879 0.48% 27,228 $286,052 Up ×3
ILCG iShares Morningstar Large-Cap Growth ETF $1,265,338 0.47% 10,813 $370,022 Up ×1
BX Blackstone Inc. Common Stock $1,241,418 0.46% 10,550 $17,925 Down ×1
ESGV VANGUARD WORLD FUND $1,232,212 0.46% 9,318 $185,070 Down ×4
UPS United Parcel Service, Inc. Common Stock $1,153,798 0.43% 10,733 $-18,498 Down ×1
ILCV iShares Morningstar Large-Cap Value ETF $1,151,909 0.43% 11,378 $242,863 Up ×1
RTX RTX Corporation Common Stock $1,113,146 0.42% 5,867 $-56,407 Down ×6
NKE Nike, Inc. Common Stock $1,060,075 0.40% 25,824 $-316,889 Down ×1
AMGN Amgen Inc. - Common Stock $1,051,596 0.39% 2,904 $-110,565 Down ×5
CRM Salesforce, Inc. Common Stock $936,983 0.35% 5,981 $-176,504 Up ×6
VCSH Vanguard Short-Term Corporate Bond ETF $893,434 0.33% 11,305 $64,270 Up ×2
AMT American Tower Corporation (REIT) Common Stock $867,902 0.32% 5,306 $-77,492 Down ×6
EEM iShares, Inc. $833,849 0.31% 12,189 $135,957 Down ×1
STZ Constellation Brands, Inc. Common Stock $827,446 0.31% 5,949 $-112,904 Down ×3
VSGX Vanguard ESG International Stock ETF $749,294 0.28% 9,100 $88,230 Down ×4
F Ford Motor Company Common Stock $742,274 0.28% 53,401 $91,972 Down ×5
ROK Rockwell Automation, Inc. Common Stock $739,155 0.28% 1,493 $181,455 Down ×4
NFLX Netflix, Inc. - Common Stock $713,071 0.27% 9,987 $-281,601 Down ×1
HWM Howmet Aerospace Inc. Common Stock $681,829 0.25% 2,536 $32,393 Down ×1
NEE NextEra Energy, Inc. Common Stock $664,945 0.25% 7,576 $-56,640 Down ×1
SLB SLB Limited Common Shares $635,704 0.24% 13,674 $-115,721 Down ×2
CL Colgate-Palmolive Company Common Stock $625,716 0.23% 6,825 $12,059 Down ×1
SPHR Sphere Entertainment Co. Class A Common Stock $607,162 0.23% 3,509 $190,392 Down ×1
VZ Verizon Communications Inc. Common Stock $600,000 0.22% 14,171 $-144,215 Down ×2
AAMI Acadian Asset Management Inc. Common Stock $583,389 0.22% 8,157 $116,030 Down ×1
BA Boeing Company (The) Common Stock $577,542 0.22% 2,668 $28,220 Down ×2
LASR nLIGHT, Inc. - Common Stock $566,846 0.21% 8,142 $99,681 Down ×2
MKSI MKS Inc. - Common Stock $554,666 0.21% 1,247 $258,671 Down ×1
LITE Lumentum Holdings Inc. - Common Stock $547,442 0.20% 638 $-7,036 Down ×2
SUSB iShares ESG Aware 1-5 Year USD Corporate Bond ETF $540,909 0.20% 21,645 $196,240 Up ×2
APD Air Products and Chemicals, Inc. Common Stock $535,054 0.20% 1,825 $-41,859 Down ×1
UBER Uber Technologies, Inc. Common Stock $522,943 0.20% 7,247 $-10,993 Down ×1
CW Curtiss-Wright Corporation Common Stock $516,792 0.19% 682 $49,544 Down ×1
DVY iShares Select Dividend ETF $515,790 0.19% 3,300 $16,137
AEIS Advanced Energy Industries, Inc. - Common Stock $499,273 0.19% 1,339 $63,614 Down ×2
TTMI TTM Technologies, Inc. - Common Stock $497,660 0.19% 2,661 $224,592 Down ×1
ESE ESCO Technologies Inc. Common Stock $492,506 0.18% 1,407 $92,961 Down ×1
MOD Modine Manufacturing Company Common Stock $480,102 0.18% 1,798 $70,520 Down ×1
NUSC Nushares ETF Trust $468,038 0.17% 8,980 $61,146 Down ×1
MKC McCormick & Company, Incorporated Common Stock $458,066 0.17% 9,085 $-105,097 Down ×1
CASY Caseys General Stores, Inc. - Common Stock $455,415 0.17% 573 $36,168 Down ×1
O Realty Income Corporation Common Stock $445,555 0.17% 7,191 $-11,521 Down ×1
SNEX StoneX Group Inc. - Common Stock $444,849 0.17% 3,754 $95,715 Down ×1
DY Dycom Industries, Inc. Common Stock $442,391 0.17% 875 $156,088 Up ×1
LIND Lindblad Expeditions Holdings Inc. - Common Stock $438,002 0.16% 15,510 $166,357 Down ×1
RBC RBC Bearings Incorporated Common Stock $430,232 0.16% 668 $71,230 Up ×2
MTRN Materion Corporation $409,506 0.15% 1,377 Up ×1
SANM Sanmina Corporation - Common Stock $398,854 0.15% 1,576 $185,596 Down ×1
AGX Argan, Inc. Common Stock $387,297 0.14% 485 Up ×1
GNRC Generac Holdlings Inc. Common Stock $375,968 0.14% 1,284 Up ×1
CECO CECO Environmental Corp. - Common Stock $375,754 0.14% 4,141 Up ×1
VMI Valmont Industries, Inc. Common Stock $367,354 0.14% 636 $113,627 Up ×1
ROAD Construction Partners, Inc. - Common Stock $365,099 0.14% 3,074 $-108,050 Down ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
EFA $18,623,087 6.95% up ×3
NVDA $4,786,153 1.79% up ×3
EAGG $1,290,879 0.48% up ×3
CRM $936,983 0.35% up ×6
CEG $243,899 0.09% up ×3
NOW $241,747 0.09% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
MTRN $409,506 1,377 0.15%
AGX $387,297 485 0.14%
GNRC $375,968 1,284 0.14%
CECO $375,754 4,141 0.14%
MSGE $364,976 4,512 0.14%
TH $349,357 17,159 0.13%
ARW $348,712 1,634 0.13%
ADEA $346,885 10,534 0.13%
HST $336,232 14,181 0.13%
LINC $322,803 6,469 0.12%
VIAV $304,024 6,367 0.11%
DAR $283,095 5,183 0.11%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
EFA Bought more +19K +$3.1M
IWM Trimmed -3K +$3.0M
SPY Trimmed -498 +$2.4M
IJH Trimmed -20K +$1.6M
INTC Trimmed -4K +$1.3M
GOOG Trimmed -2K +$1.1M
IJR Bought more +169 +$1.0M
CVX Trimmed -758 -$951K
XOM Trimmed -1K -$865K
AAPL Trimmed -2K +$846K

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
FISV Dec. 31, 2025 9,685 $1,248,687 -32.3%
BDX June 30, 2025 3,890 $891,043 33.1%
TROW June 30, 2025 5,997 $550,944 7.4%
NRG June 30, 2026 3,374 $493,076 -29.1%
ROP Dec. 31, 2025 985 $491,210 -18.6%
ADBE Sept. 30, 2025 1,211 $468,511 -32.5%
SFM Sept. 30, 2025 2,779 $457,535 -40.1%
CENX June 30, 2026 6,106 $358,361 -19.2%
CVLT Dec. 31, 2025 1,895 $357,738 23.6%
NYT June 30, 2026 4,248 $355,685 -8.4%
CYBR March 31, 2026 767 $342,128 No longer tracked
GWRE March 31, 2026 1,634 $328,450 10.0%
UTI June 30, 2026 8,960 $323,456 -54.0%
DAN June 30, 2026 9,589 $322,670 4.5%
FFIV Dec. 31, 2025 990 $319,958 84.0%
CRS Dec. 31, 2025 1,294 $317,729 25.7%
HLI March 31, 2026 1,807 $314,761 -10.9%
COOP June 30, 2025 2,611 $312,276 No longer tracked
IRTC March 31, 2026 1,744 $309,455 -9.2%
CDTX Dec. 31, 2025 3,187 $305,187 No longer tracked
FLS June 30, 2026 3,989 $293,231 -1.1%
DRS Dec. 31, 2025 6,458 $293,193 7.9%
PPC June 30, 2025 5,211 $284,052 -38.0%
AVPT Dec. 31, 2025 18,789 $282,023 5.0%
URBN March 31, 2026 3,704 $278,763 26.7%
PNR March 31, 2026 2,668 $277,846 -39.2%
AIT June 30, 2025 1,230 $277,168 48.4%
GILT June 30, 2026 18,411 $276,533 -30.7%
EMBJ June 30, 2026 4,649 $275,872 17.9%
EME June 30, 2025 741 $273,896 54.1%
IWP March 31, 2026 1,959 $268,265 12.0%
BANF Dec. 31, 2025 2,108 $266,557 0.7%
MCRI Dec. 31, 2025 2,518 $266,505 24.6%
VIRT Sept. 30, 2025 5,931 $265,649 73.6%
EHC Dec. 31, 2025 2,082 $264,456 17.5%
HII June 30, 2026 690 $262,131 -5.8%
LRN Sept. 30, 2025 1,780 $258,438 -46.5%
PRI June 30, 2025 903 $256,931 2.0%
AWI March 31, 2026 1,336 $255,310 0.0%
QTWO Sept. 30, 2025 2,710 $253,629 -20.7%
NI Sept. 30, 2025 6,233 $251,439 -6.1%
INSM June 30, 2026 1,507 $246,425 -1.3%
LOPE Sept. 30, 2025 1,293 $244,377 -29.1%
SF June 30, 2026 3,297 $243,714 0.5%
CHEF Dec. 31, 2025 4,021 $234,545 78.4%
HQY Sept. 30, 2025 2,204 $230,891 -3.9%
SN Dec. 31, 2025 2,204 $227,343 65.1%
PNR June 30, 2025 2,585 $226,136 -48.4%
SKYW Dec. 31, 2025 2,220 $223,376 -2.7%
KD Dec. 31, 2025 7,428 $223,063 -56.8%
AMSC Dec. 31, 2025 3,721 $220,990 10.7%
T June 30, 2026 7,583 $219,831 18.0%
CWST Sept. 30, 2025 1,902 $219,453 -13.5%
J March 31, 2026 1,655 $219,221 9.4%
UMBF Sept. 30, 2025 2,060 $216,630 9.9%
T Dec. 31, 2025 7,628 $215,415 -1.7%
IDCC June 30, 2026 698 $210,796 19.8%
RGLD Sept. 30, 2025 1,174 $208,784 16.8%
GKOS June 30, 2025 2,107 $207,371 56.4%
BROS Sept. 30, 2025 2,999 $205,042 -25.4%
ADC Sept. 30, 2025 2,799 $204,495 -7.4%
EXP June 30, 2025 915 $203,066 -15.1%
KEY June 30, 2025 12,670 $202,593 15.6%
BCRX Sept. 30, 2025 19,142 $171,512 4.7%