Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 -28.8%
S&P 500 total return (same window) +37.0%
Excess return -65.8%

Annualized: -23.8% · 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: 100.0% · Options excluded: 0.0%

Sector breakdown

04
Retail 78.2%
Industrials 21.8%

Full portfolio 2 positions

05
Type Streak 8Q trend
CHWY Chewy, Inc. Class A Common Stock $3,467,797,180 78.23% 176,478,228 $-1,297,114,976
GFL GFL Environmental Inc. Subordinate voting shares, no par value $965,095,746 21.77% 29,912,724 $-229,570,254

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
CHWY Price move only +0 -$1.3B
GFL Price move only +0 -$229.6M

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
INTEQ March 31, 2026 34,738,563 $0 No longer tracked