Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +21.3%
S&P 500 total return (same window) +37.0%
Excess return -15.7%

Annualized: +16.7% · 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: 96.8% · Options excluded: 0.0%

Sector breakdown

04
Healthcare 15.4%
Retail 14.7%
Technology 13.6%
Financials 13.2%
Industrials 12.6%
Real Estate 6.5%
Consumer Discretionary 5.6%
Communication Services 5.0%
Utilities 4.9%
Consumer Staples 2.8%
Energy 2.5%
Consumer products 0.9%
Materials 0.4%
Other/Unmapped 1.8%

Full portfolio 334 positions

05
Type Streak 8Q trend
LLY Eli Lilly and Company Common Stock $15,868,459 10.27% 13,230 $3,459,933 Down ×6
AMZN Amazon.com, Inc. - Common Stock $14,558,999 9.43% 61,085 $1,374,050 Down ×6
TDG Transdigm Group Incorporated Common Stock $11,676,123 7.56% 8,766 $1,210,025 Down ×3
ALL Allstate Corporation (The) Common Stock $11,343,339 7.34% 31,776 $1,813,142 Down ×1
AAPL Apple Inc. - Common Stock $8,873,734 5.75% 30,667 $1,005,581 Down ×3
COST Costco Wholesale Corporation - Common Stock $6,123,012 3.96% 6,545 $-1,265,880 Down ×1
NVDA NVIDIA Corporation - Common Stock $4,758,312 3.08% 23,781 $695,524 Up ×2
WELL Welltower Inc. Common Stock $4,642,168 3.01% 20,453 $666,676 Up ×2
MCD McDonald's Corporation Common Stock $3,459,814 2.24% 12,799 $-594,965 Down ×1
MO Altria Group, Inc. $3,408,270 2.21% 47,370 $168,304 Down ×6
O Realty Income Corporation Common Stock $3,078,980 1.99% 49,693 $281,966 Up ×3
EW Edwards Lifesciences Corporation Common Stock $2,385,108 1.54% 26,366 $285,936 Up ×2
VZ Verizon Communications Inc. Common Stock $2,070,171 1.34% 48,894 $-456,524 Down ×6
GOOG Alphabet Inc. - Class C Capital Stock $1,942,374 1.26% 5,497 $380,473 Up ×4
MSFT Microsoft Corporation - Common Stock $1,903,053 1.23% 5,102 $9,189 Down ×1
SRE DBA Sempra Common Stock $1,873,042 1.21% 20,203 $-80,227 Up ×3
CVX Chevron Corporation Common Stock $1,662,645 1.08% 10,030 $-363,162 Up ×2
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,564,219 1.01% 3,126 $-158,984 Down ×3
SBUX Starbucks Corporation - Common Stock $1,536,777 1.00% 15,038 $181,472 Down ×2
CB Chubb Limited Common Stock $1,498,267 0.97% 4,397 $33,330 Down ×1
NFLX Netflix, Inc. - Common Stock $1,479,408 0.96% 20,720 $-613,778 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $1,467,379 0.95% 2,526 $953,515
CAT Caterpillar, Inc. Common Stock $1,445,832 0.94% 1,358 $569,878 Up ×6
PG Procter & Gamble Company (The) Common Stock $1,364,867 0.88% 9,308 $29,135 Up ×3
MA Mastercard Incorporated Common Stock $1,329,197 0.86% 2,588 $-26,381 Down ×1
XOM Exxon Mobil Corporation Common Stock $1,300,643 0.84% 9,513 $52,939 Up ×5
SO Southern Company (The) Common Stock $1,267,345 0.82% 13,242 $25,278 Up ×6
JNJ Johnson & Johnson Common Stock $1,199,282 0.78% 4,722 $-21,994 Down ×1
CSCO Cisco Systems, Inc. - Common Stock $1,190,879 0.77% 10,139 $405,592 Up ×2
C Citigroup, Inc. Common Stock $1,129,477 0.73% 8,070 $214,258
EIX Edison International Common Stock $1,106,699 0.72% 14,865 $92,205 Up ×1
RCL Royal Caribbean Cruises Ltd. Common Stock $1,047,849 0.68% 3,300 $139,755
BMY Bristol-Myers Squibb Company Common Stock $1,001,564 0.65% 17,382 $-79,702 Down ×5
TSLA Tesla, Inc. - Common Stock $993,036 0.64% 2,361 $136,896 Up ×2
ED Consolidated Edison, Inc. Common Stock $984,463 0.64% 8,899 $-21,096 Up ×3
LMT Lockheed Martin Corporation Common Stock $974,141 0.63% 1,912 $-120,668 Up ×3
JPM JP Morgan Chase & Co. Common Stock $925,320 0.60% 2,827 $95,259 Up ×4
RTX RTX Corporation Common Stock $898,848 0.58% 4,738 $-61,179 Down ×1
HD Home Depot, Inc. (The) Common Stock $777,167 0.50% 2,204 $139,032 Up ×2
WM Waste Management, Inc. Common Stock $762,125 0.49% 3,419 $-20,728 Up ×6
ABBV AbbVie Inc. Common Stock $749,122 0.49% 2,977 $164,930 Up ×6
VIK Viking Holdings Ltd Ordinary Shares $684,018 0.44% 6,535 $233,218 Up ×1
NEE NextEra Energy, Inc. Common Stock $570,412 0.37% 6,499 $-30,212 Up ×2
SPG Simon Property Group, Inc. Common Stock $566,953 0.37% 2,535 $94,099
MAR Marriott International - Class A Common Stock $561,444 0.36% 1,515 $-17,470 Down ×1
KO Coca-Cola Company (The) Common Stock $555,935 0.36% 6,841 $39,137 Up ×1
MU Micron Technology, Inc. - Common Stock $510,117 0.33% 442 $370,653 Up ×2
QCOM QUALCOMM Incorporated - Common Stock $466,745 0.30% 2,526 $142,524 Up ×4
WMT Walmart Inc. - Common Stock $444,344 0.29% 3,923 $-19,319 Up ×2
HON Honeywell International Inc. - Common Stock $441,979 0.29% 1,974 $-429,571 Down ×1
IBM International Business Machines Corporation Common Stock $439,882 0.28% 1,564 $61,060 Up ×4
DUK Duke Energy Corporation (Holding Company) Common Stock $437,923 0.28% 3,460 $-14,353 Up ×6
Unknown issuer (CUSIP: 43849R105) $436,412 0.28% 1,974 Up ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $432,201 0.28% 905 $84,112 Down ×1
HOOD Robinhood Markets, Inc. - Class A Common Stock $428,196 0.28% 4,270 $132,285
UNP Union Pacific Corporation Common Stock $420,266 0.27% 1,545 $47,223 Up ×2
PANW Palo Alto Networks, Inc. - Common Stock $399,334 0.26% 1,171 $211,599
SBRA Sabra Health Care REIT, Inc. - Common Stock $393,634 0.25% 20,176 $5,650
HNT CUSIP: 42222G108 $393,575 0.25% 1,785 $-139,000 Down ×1
PSA Public Storage Common Stock $391,716 0.25% 1,231 $61,465 Up ×6
GD General Dynamics Corporation Common Stock $388,206 0.25% 1,096 $12,271 Up ×1
IRM Iron Mountain Incorporated (Delaware)Common Stock REIT $378,930 0.25% 3,000 $72,510
META Meta Platforms, Inc. - Class A Common Stock $373,542 0.24% 663 $-5,837
CSX CSX Corporation - Common Stock $336,439 0.22% 7,078 $25,535 Down ×1
CVS CVS Health Corporation Common Stock $328,661 0.21% 3,177 $117,151 Up ×1
SNA Snap-On Incorporated Common Stock $325,944 0.21% 810 $-40,908 Down ×1
MRK Merck & Company, Inc. Common Stock (new) $315,118 0.20% 2,452 $23,116 Up ×3
SIEGY CUSIP: 826197501 $310,124 0.20% 1,268 $61,105 Down ×1
BAC Bank of America Corporation Common Stock $309,511 0.20% 5,432 $45,654 Up ×6
V Visa Inc. $291,166 0.19% 849 $34,957 Up ×2
WFC Wells Fargo & Company Common Stock $284,753 0.18% 3,446 $11,791 Up ×6
TJX TJX Companies, Inc. (The) Common Stock $281,283 0.18% 1,857 $-14,475 Up ×6
TGT Target Corporation Common Stock $275,456 0.18% 2,109 $20,936 Up ×1
ENB Enbridge Inc Common Stock $270,078 0.17% 4,982 $49,075 Up ×2
AMGN Amgen Inc. - Common Stock $268,726 0.17% 742 $8,231 Up ×6
CRDO Credo Technology Group Holding Ltd - Ordinary Shares $266,511 0.17% 980 Up ×1
FTNT Fortinet, Inc. - Common Stock $265,302 0.17% 1,727 $124,172
Unknown issuer (CUSIP: G42089113) $265,254 0.17% 3,300 $19,569
Unknown issuer (CUSIP: K7314N152) $246,891 0.16% 5,150 $53,953 Down ×1
DIS Walt Disney Company (The) Common Stock $241,849 0.16% 2,513 $-34,291 Down ×6
TMO Thermo Fisher Scientific Inc Common Stock $240,373 0.16% 479 $54,032 Up ×1
VTR Ventas, Inc. Common Stock $237,535 0.15% 2,675 $19,857 Up ×6
ABT Abbott Laboratories Common Stock $236,440 0.15% 2,606 $-52,318 Down ×1
PLTR Palantir Technologies Inc. - Class A Common Stock $225,173 0.15% 1,930 $8,679 Up ×1
BTC Grayscale Bitcoin Mini Trust (BTC) $224,468 0.15% 8,650 $-34,946
GEV GE Vernova Inc. Common Stock $222,499 0.14% 189 $108,742 Up ×2
DNP DNP Select Income Fund, Inc. Common Stock $219,577 0.14% 20,350 $10,202 Up ×6
CWT California Water Service Group Common Stock $218,925 0.14% 4,500 $14,895
J (filed as JXXXX) Jacobs Solutions Inc. Common Stock $216,800 0.14% 1,721 $-1,554 Up ×6
INTC Intel Corporation - Common Stock $209,462 0.14% 1,500 $147,675 Up ×2
CEG Constellation Energy Corporation - Common Stock When-Issued $206,890 0.13% 833 $2,494 Up ×2
AJG Arthur J. Gallagher & Co. Common Stock $206,813 0.13% 901 $-55,340 Down ×1
BTI British American Tobacco Industries, p.l.c. Common Stock ADR $199,361 0.13% 3,228 $10,620
PNFP Pinnacle Financial Partners, Inc. - Common Stock $190,445 0.12% 1,888 $28,661 Up ×6
TXN Texas Instruments Incorporated - Common Stock $189,526 0.12% 636 $66,395 Up ×6
CTVA Corteva, Inc. Common Stock $185,905 0.12% 2,195 $-5,792 Down ×1
PSX Phillips 66 Common Stock $183,886 0.12% 1,088 $-13,782 Up ×6
GLW Corning Incorporated Common Stock $178,882 0.12% 700 $90,466 Up ×2
SYY Sysco Corporation Common Stock $177,608 0.11% 2,125 $26,032
BA Boeing Company (The) Common Stock $177,505 0.11% 820 $14,300

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
O $3,078,980 1.99% up ×3
GOOG $1,942,374 1.26% up ×4
SRE $1,873,042 1.21% up ×3
CAT $1,445,832 0.94% up ×6
PG $1,364,867 0.88% up ×3
XOM $1,300,643 0.84% up ×5
SO $1,267,345 0.82% up ×6
ED $984,463 0.64% up ×3
LMT $974,141 0.63% up ×3
JPM $925,320 0.60% up ×4
WM $762,125 0.49% up ×6
ABBV $749,122 0.49% up ×6
QCOM $466,745 0.30% up ×4
IBM $439,882 0.28% up ×4
DUK $437,923 0.28% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 43849R105) $436,412 1,974 0.28%
CRDO $266,511 980 0.17%
ELV $66,904 173 0.04%
Unknown issuer (CUSIP: 84615Q103) $66,294 388 0.04%
CNQ $35,550 900 0.02%
XEL $24,090 300 0.02%
NWE $21,685 303 0.01%
NEM $18,680 200 0.01%
B $18,365 500 0.01%
DBO $17,650 1,000 0.01%
DTE $16,761 110 0.01%
BUCK $14,242 608 0.01%
UNTC $13,768 440 0.01%
Unknown issuer (CUSIP: 71531U102) $13,144 400 0.01%
BB $12,650 1,000 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
LLY Trimmed -261 +$3.5M
ALL Trimmed -1K +$1.8M
AMZN Trimmed -2K +$1.4M
COST Trimmed -870 -$1.3M
TDG Trimmed -265 +$1.2M
AAPL Trimmed -336 +$1.0M
AMD Price move only +0 +$954K
NVDA Bought more +485 +$696K
WELL Bought more +345 +$667K
NFLX Trimmed -1K -$614K

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
UHAL Dec. 31, 2025 6,480 $369,814 22.8%
BACPRP June 30, 2025 15,806 $275,022 No longer tracked
CMG Dec. 31, 2025 3,320 $130,111 -12.5%
COOP Dec. 31, 2025 500 $105,395 No longer tracked
PNFPP June 30, 2025 4,323 $104,187 No longer tracked
PSLV June 30, 2026 3,500 $85,365
BACPRO June 30, 2025 4,158 $76,872 No longer tracked
DHR June 30, 2026 290 $54,984 12.4%
BF-B (filed as BFB) March 31, 2026 1,750 $45,605 No longer tracked
GS Dec. 31, 2025 50 $39,818 2.7%
EXAS March 31, 2026 388 $39,405 No longer tracked
WFCPRD June 30, 2025 2,135 $37,744 No longer tracked
WY Dec. 31, 2025 1,280 $31,731 -22.0%
GLDM June 30, 2025 474 $29,336 25.2%
TTC June 30, 2025 385 $28,009 39.6%
TMHC Dec. 31, 2025 400 $26,404 No longer tracked
KKR June 30, 2026 257 $23,767 -1.6%
KMI Dec. 31, 2025 721 $20,425 13.0%
CLX March 31, 2026 200 $20,166 -22.4%
CTRA June 30, 2026 529 $18,592 No longer tracked
ARCC March 31, 2026 700 $14,161 4.7%
FAF March 31, 2026 213 $13,087 3.6%
PHDG June 30, 2025 325 $11,856
WBA Sept. 30, 2025 1,000 $11,479 No longer tracked
EMN March 31, 2026 172 $11,007 -15.0%
BPYPO June 30, 2025 794 $10,967 -0.5%
JWN June 30, 2025 440 $10,762 No longer tracked
RVTY June 30, 2026 101 $8,809 36.2%
QEFA June 30, 2025 111 $8,764
VLTO June 30, 2026 96 $8,488 6.8%
ABNB June 30, 2026 57 $7,198 13.5%
ALGN June 30, 2025 40 $6,354 -24.1%
RPV June 30, 2025 65 $6,003
RPG June 30, 2025 150 $5,738 28.5%
HE June 30, 2025 500 $5,475 -16.3%
MXL March 31, 2026 300 $5,229 509.1%
YUM June 30, 2025 33 $5,193 -8.1%
CODI Dec. 31, 2025 750 $4,965 127.7%
ISRG Dec. 31, 2025 9 $4,025 -30.8%
IREN March 31, 2026 100 $3,770 21.8%
ACHR March 31, 2026 500 $3,760 -5.4%
CHKEL March 31, 2026 24 $2,392 No longer tracked
ZVRA Dec. 31, 2025 215 $2,045 11.5%
YUMC June 30, 2025 33 $1,718 -10.6%
DOW March 31, 2026 64 $1,496 -32.8%
OGN Dec. 31, 2025 20 $214 91.4%
FSRNQ June 30, 2025 50 $0 No longer tracked
SODA June 30, 2025 52 $0 No longer tracked