Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +11.1%
S&P 500 total return (same window) +37.0%
Excess return -25.9%

Annualized: +8.8% · 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
Technology 28.2%
Financials 21.3%
Industrials 11.8%
Communication Services 9.8%
Retail 7.8%
Healthcare 6.5%
Energy 3.4%
Consumer Discretionary 3.2%
Materials 2.4%
Consumer products 2.2%
Utilities 1.9%
Consumer Staples 0.4%
Real Estate 0.0%
Other/Unmapped 1.1%

Full portfolio 149 positions

05
Type Streak 8Q trend
GOOG Alphabet Inc. - Class C Capital Stock $62,067,417 6.71% 173,030 $-5,469,169 Down ×4
NVDA NVIDIA Corporation - Common Stock $46,085,463 4.98% 225,776 $1,161,715 Up ×6
MSFT Microsoft Corporation - Common Stock $39,037,074 4.22% 101,834 $-3,746,728 Up ×6
V Visa Inc. $38,016,902 4.11% 109,392 $3,734,122 Up ×3
AAPL Apple Inc. - Common Stock $36,868,965 3.98% 117,646 $3,837,520 Down ×1
COST Costco Wholesale Corporation - Common Stock $33,793,513 3.65% 35,455 $-1,313,121 Up ×6
TJX TJX Companies, Inc. (The) Common Stock $31,995,917 3.46% 209,411 $-1,099,247 Up ×2
ASML ASML Holding N.V. - New York Registry Shares $29,418,870 3.18% 16,634 $2,068,878 Down ×3
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $28,302,262 3.06% 57,201 $1,570,404 Up ×6
GWW W.W. Grainger, Inc. Common Stock $28,226,264 3.05% 20,912 $4,079,108 Up ×6
JPM JP Morgan Chase & Co. Common Stock $28,193,418 3.05% 85,274 $2,017,156 Up ×1
MCK McKesson Corporation Common Stock $27,686,847 2.99% 33,820 $12,764,667 Up ×3
HLI Houlihan Lokey, Inc. Class A Common Stock $27,627,068 2.98% 205,696 $-5,711,221 Up ×3
FTI TechnipFMC plc Ordinary Share $27,381,680 2.96% 389,000 $-3,501,279 Down ×2
MLI Mueller Industries, Inc. Common Stock $25,848,641 2.79% 463,736 $-5,119,547 Up ×1
SCHW Charles Schwab Corporation (The) Common Stock $25,309,069 2.73% 248,860 $2,793,395 Up ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $25,199,193 2.72% 57,667 $3,555,124 Down ×2
FTNT Fortinet, Inc. - Common Stock $24,685,736 2.67% 157,525 $11,487,285 Down ×3
EME EMCOR Group, Inc. Common Stock $24,658,377 2.66% 32,066 $-4,778,763 Down ×2
RACE Ferrari N.V. Common Shares $23,197,625 2.51% 61,855 $344,530 Up ×1
RGLD Royal Gold, Inc. - Common Stock $21,745,639 2.35% 113,300 $-8,398,050 Up ×1
TKO TKO Group Holdings, Inc. Class A Common Stock $21,371,123 2.31% 110,783 $-2,251,796 Down ×2
UBER Uber Technologies, Inc. Common Stock $21,228,795 2.29% 288,435 Up ×1
WRB W.R. Berkley Corporation Common Stock $19,339,310 2.09% 271,315 $1,276,236 Up ×6
GRMN Garmin Ltd. Common Stock (Switzerland) $18,573,504 2.01% 76,268 $-1,673,879 Up ×6
CEG Constellation Energy Corporation - Common Stock When-Issued $16,149,647 1.74% 66,046 $766,735 Up ×1
CRM Salesforce, Inc. Common Stock $15,977,243 1.73% 95,913 $3,843,076 Up ×1
FICO Fair Isaac Corporation Common Stock $15,954,027 1.72% 12,601 $-444,083 Down ×1
VRTX Vertex Pharmaceuticals Incorporated - Common Stock $15,344,717 1.66% 30,786 $1,927,384 Up ×3
INTU Intuit Inc. - Common Stock $11,227,286 1.21% 41,262 $5,662,375 Up ×1
MORN Morningstar, Inc. - Common Stock $9,506,045 1.03% 57,602 $-1,130,654 Down ×1
JNJ Johnson & Johnson Common Stock $6,443,554 0.70% 24,463 $816,209 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $6,185,213 0.67% 17,090 $345,902
SYBT Stock Yards Bancorp, Inc. - Common Stock $4,636,536 0.50% 61,517 $172,247
ADBE Adobe Inc. - Common Stock $4,305,529 0.47% 19,487 $-4,377,093 Down ×3
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $3,741,250 0.40% 5 $183,456
NOW ServiceNow, Inc. Common Stock $3,332,665 0.36% 30,921
XOM Exxon Mobil Corporation Common Stock $2,765,774 0.30% 19,597 $-103,725 Up ×1
TT Trane Technologies plc $2,634,353 0.28% 5,578 $-50,196 Down ×1
TXRH Texas Roadhouse, Inc. - Common Stock $2,630,181 0.28% 14,477 $240,318
PNC PNC Financial Services Group, Inc. (The) Common Stock $2,567,575 0.28% 10,415 $231,480 Up ×2
AMAT Applied Materials, Inc. - Common Stock $2,497,649 0.27% 4,378 $624,886 Down ×1
AMZN Amazon.com, Inc. - Common Stock $2,347,644 0.25% 9,637 $-20,108,746 Down ×1
AMGN Amgen Inc. - Common Stock $2,111,895 0.23% 5,739 $72,828
LLY Eli Lilly and Company Common Stock $1,760,522 0.19% 1,448 $418,183
MCD McDonald's Corporation Common Stock $1,539,836 0.17% 5,534 $-183,230
ALL Allstate Corporation (The) Common Stock $1,483,159 0.16% 5,905 $206,734
FSLR First Solar, Inc. - Common Stock $1,357,015 0.15% 6,050 $204,853
KO Coca-Cola Company (The) Common Stock $1,339,487 0.14% 16,061 $160,897 Up ×2
CHDN Churchill Downs, Incorporated - Common Stock $1,326,074 0.14% 15,546 $-130,475 Down ×2
IVV iShares Trust $1,220,968 0.13% 1,630 $58,191
TRMK Trustmark Corporation - Common Stock $1,210,492 0.13% 26,864 $-6,179
SPY SPY $1,208,992 0.13% 1,622 $57,293
ITW Illinois Tool Works Inc. Common Stock $1,208,061 0.13% 4,557 $44,422 Up ×1
ADP Automatic Data Processing, Inc. - Common Stock $1,102,820 0.12% 4,569 $186,873
PG Procter & Gamble Company (The) Common Stock $1,098,304 0.12% 7,401 $-43,418 Down ×1
ABBV AbbVie Inc. Common Stock $1,095,375 0.12% 4,334 $336,455 Up ×1
MS Morgan Stanley Common Stock $1,082,499 0.12% 4,964 $145,197
KR Kroger Company (The) Common Stock $1,049,727 0.11% 17,696 $-156,963
UNH UnitedHealth Group Incorporated Common Stock (DE) $1,041,869 0.11% 2,448 $247,175
BF-B (filed as BFB) Brown-Forman Corporation Class B $1,031,803 0.11% 40,023 $-136,103 Down ×4
VT Vanguard Total World Stock Index ETF $1,016,731 0.11% 6,525 $32,432
CVX Chevron Corporation Common Stock $943,727 0.10% 5,363 $-43,011
MRK Merck & Company, Inc. Common Stock (new) $943,665 0.10% 7,490 $51,831
ELV Elevance Health, Inc. Common Stock $917,456 0.10% 2,205 $205,131
SPGI S&P Global Inc. Common Stock $894,320 0.10% 2,076 $-28,438 Down ×1
SYK Stryker Corporation Common Stock $835,429 0.09% 2,556 $-42,097
VTI Vanguard Morningstar Total Stock Market ETF $808,677 0.09% 2,196 $38,913
ORLY O'Reilly Automotive, Inc. - Common Stock $804,336 0.09% 9,465 $93,077 Up ×2
CAT Caterpillar, Inc. Common Stock $792,595 0.09% 836 $128,268
HUM Humana Inc. Common Stock $765,398 0.08% 1,931 $309,187 Down ×3
QQQ Invesco QQQ Trust, Series 1 $716,420 0.08% 1,007 $63,028
MELI MercadoLibre, Inc. - Common Stock $702,039 0.08% 388 $-95,968 Down ×3
GD General Dynamics Corporation Common Stock $672,635 0.07% 1,797 $68,322
NEE NextEra Energy, Inc. Common Stock $667,342 0.07% 7,632 $-34,649
SCHG SCHWAB STRATEGIC TRUST $660,091 0.07% 19,284 $153,046 Up ×1
ACN Accenture plc Class A Ordinary Shares (Ireland) $649,046 0.07% 4,731 $-434,076 Down ×4
MA Mastercard Incorporated Common Stock $645,666 0.07% 1,242 $140,005 Up ×3
DIS Walt Disney Company (The) Common Stock $619,563 0.07% 6,407 $-82,702 Down ×3
GLD SPDR Gold Shares $616,345 0.07% 1,646 $-76,184 Up ×1
CL Colgate-Palmolive Company Common Stock $607,923 0.07% 6,534 $47,240
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $602,410 0.07% 3,152 $268,337 Up ×2
FIX Comfort Systems USA, Inc. Common Stock $589,729 0.06% 350 $-11,042 Down ×1
PM Philip Morris International Inc Common Stock $561,210 0.06% 3,000 $87,840
AVGO Broadcom Inc. - Common Stock $558,952 0.06% 1,438 $-25,661
VTV Vanguard Morningstar Value ETF $555,417 0.06% 2,552 $34,197
CINF Cincinnati Financial Corporation - Common Stock $538,340 0.06% 2,965 $43,719
SHOP Shopify Inc. - Class A Subordinate Voting Shares $527,549 0.06% 4,425 $-52,790
DOV Dover Corporation Common Stock $480,037 0.05% 2,270 $-17,252
AVGE AMERICAN CENTURY ETF TRUST $438,597 0.05% 4,472 $13,908
TXN Texas Instruments Incorporated - Common Stock $437,960 0.05% 1,453 $104,279 Up ×6
AZO AutoZone, Inc. Common Stock $435,964 0.05% 142 $-71,314
DUK Duke Energy Corporation (Holding Company) Common Stock $435,904 0.05% 3,438 Up ×1
LMT Lockheed Martin Corporation Common Stock $431,343 0.05% 817 $-52,476
VV Vanguard Morningstar Large-Cap ETF $418,911 0.05% 1,220 $20,532
FTEC FIDELITY COVINGTON TRUST $411,509 0.04% 1,492 $52,996
USB U.S. Bancorp Common Stock $410,896 0.04% 6,736 $27,416
META Meta Platforms, Inc. - Class A Common Stock $409,518 0.04% 679 $-116,534 Down ×2
DE Deere & Company Common Stock $398,026 0.04% 667 $4,189
COR Cencora, Inc. Common Stock $392,535 0.04% 1,268 $-22,811

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
NVDA $46,085,463 4.98% up ×6
MSFT $39,037,074 4.22% up ×6
V $38,016,902 4.11% up ×3
COST $33,793,513 3.65% up ×6
BRK-B (filed as BRKB) $28,302,262 3.06% up ×6
GWW $28,226,264 3.05% up ×6
MCK $27,686,847 2.99% up ×3
HLI $27,627,068 2.98% up ×3
WRB $19,339,310 2.09% up ×6
GRMN $18,573,504 2.01% up ×6
VRTX $15,344,717 1.66% up ×3
MA $645,666 0.07% up ×3
TXN $437,960 0.05% up ×6
UPS $357,195 0.04% up ×3
FNB $336,733 0.04% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
UBER $21,228,795 288,435 2.29%
NOW $3,332,665 30,921 0.36%
DUK $435,904 3,438 0.05%
Unknown issuer (CUSIP: 43849R105) $362,550 1,616 0.04%
Unknown issuer (CUSIP: 438516205) $356,102 1,616 0.04%
SCHF $301,991 11,066 0.03%
FAST $277,618 5,969 0.03%
AMD $231,280 447 0.02%
DELL $218,145 505 0.02%
WAT $215,724 586 0.02%
SHBI $215,446 9,696 0.02%
MCHP $215,435 2,520 0.02%
VOO $206,263 301 0.02%
PSX $205,089 1,092 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MCK Bought more +17K +$12.8M
FTNT Trimmed -4K +$11.5M
RGLD Bought more +874 -$8.4M
HLI Bought more +537 -$5.7M
INTU Bought more +27K +$5.7M
GOOG Trimmed -26K -$5.5M
MLI Bought more +210K -$5.1M
EME Trimmed -4K -$4.8M
ADBE Trimmed -16K -$4.4M
GWW Bought more +148 +$4.1M

1 position hidden — reported move looks larger than the position itself (data completeness check)

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
AJG March 31, 2026 88,580 $23,437,399 6.1%
PNFP Sept. 30, 2025 182,618 $21,366,327 3.3%
PAYC Sept. 30, 2025 80,269 $18,311,792 6.9%
SFM Dec. 31, 2025 154,705 $16,723,611 -18.2%
NVO Sept. 30, 2025 236,999 $16,547,263 -33.3%
CMI June 30, 2025 42,320 $12,410,652 63.4%
HSY June 30, 2025 67,596 $11,037,075 -3.1%
VEEV March 31, 2026 37,089 $8,905,885 61.4%
LULU June 30, 2025 28,376 $7,601,930 -60.6%
NOW June 30, 2025 5,466 $5,166,791 -32.9%
DECK June 30, 2025 8,235 $899,180 -20.8%
HON June 30, 2026 3,235 $755,534 -5.2%
DFS June 30, 2025 1,940 $358,628 No longer tracked
PYPL June 30, 2025 4,548 $297,166 -26.5%
TSLA Sept. 30, 2025 911 $287,557 -14.4%
CB Sept. 30, 2025 960 $268,877 18.4%
ABT March 31, 2026 1,824 $229,678 -4.4%
MKC Sept. 30, 2025 2,950 $225,852 -31.2%
LOW Sept. 30, 2025 994 $225,578 -26.9%
PLTR Dec. 31, 2025 1,280 $224,627 8.1%
CBRE March 31, 2026 1,339 $221,551 -3.5%
STZ Sept. 30, 2025 1,257 $218,555 -14.1%
QCOM Sept. 30, 2025 1,325 $215,074 8.4%
T June 30, 2026 8,100 $214,731 16.4%
PECO Sept. 30, 2025 6,086 $213,435 9.4%
SHEL Sept. 30, 2025 2,950 $213,226 36.5%
WAT Sept. 30, 2025 600 $211,152 45.6%
KMB Dec. 31, 2025 1,749 $210,247 -4.1%
HWC Sept. 30, 2025 3,450 $208,760 17.2%
SCHF June 30, 2025 10,134 $206,632 26.3%
TSCO March 31, 2026 3,900 $200,889 -29.6%
MLM March 31, 2026 300 $200,001 -16.6%
SYPR March 31, 2026 25,000 $63,750 -31.9%