Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +16.2%
S&P 500 total return (same window) +37.0%
Excess return -20.8%

Annualized: +12.8% · 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: 99.8% · Options excluded: 0.0%

Sector breakdown

04
Technology 29.4%
Financials 15.4%
Health Care 15.2%
Communication Services 13.2%
Industrials 12.1%
Retail 10.7%
Consumer Discretionary 3.1%
Consumer products 0.9%

Full portfolio 63 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $34,950,921 9.33% 174,676 $2,883,673 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $27,165,838 7.25% 76,016 $5,298,419 Down ×5
MSFT Microsoft Corporation - Common Stock $21,782,876 5.82% 58,396 $-1,491,966 Down ×1
AMZN Amazon.com, Inc. - Common Stock $17,060,377 4.56% 71,580 $632,925 Down ×2
AVGO Broadcom Inc. - Common Stock $15,106,978 4.03% 39,992 $2,511,109 Down ×1
AAPL Apple Inc. - Common Stock $12,239,639 3.27% 42,299 $-7,741,453 Down ×1
JPM JP Morgan Chase & Co. Common Stock $9,897,150 2.64% 30,236 $1,215,299 Up ×2
V Visa Inc. $8,997,878 2.40% 26,226 $1,205,083 Up ×4
META Meta Platforms, Inc. - Class A Common Stock $8,616,084 2.30% 15,296 $3,992,806 Up ×1
MA Mastercard Incorporated Common Stock $7,252,032 1.94% 14,120 $1,210,150 Up ×3
TMO Thermo Fisher Scientific Inc Common Stock $6,054,925 1.62% 12,077 $8,881 Down ×1
NFLX Netflix, Inc. - Common Stock $5,546,923 1.48% 77,688 $757,184 Up ×3
ABBV AbbVie Inc. Common Stock $5,258,018 1.40% 20,895 $1,519,198 Up ×1
MRSH Marsh Common Stock $5,070,101 1.35% 30,420 $-124,809 Up ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $5,014,963 1.34% 10,501 $1,545,486 Up ×1
ETN Eaton Corporation, PLC Ordinary Shares $4,945,549 1.32% 11,606 Up ×1
WM Waste Management, Inc. Common Stock $4,945,484 1.32% 22,189 $-62,642 Up ×1
AON Aon plc Class A Ordinary Shares (Ireland) $4,920,621 1.31% 14,835 $-831,416 Down ×1
SPGI S&P Global Inc. Common Stock $4,876,531 1.30% 11,974 $-104,663 Up ×3
VEEV Veeva Systems Inc. Class A Common Stock $4,873,149 1.30% 27,459 $147,735 Up ×4
UNH UnitedHealth Group Incorporated Common Stock (DE) $4,721,557 1.26% 11,360 $344,022 Down ×4
WMS Advanced Drainage Systems, Inc. Common Stock $4,648,213 1.24% 29,614 $2,583,588 Up ×1
LOW Lowe's Companies, Inc. Common Stock $4,501,744 1.20% 20,417 Up ×1
APH Amphenol Corporation Common Stock $4,497,218 1.20% 25,506 Up ×1
LPLA LPL Financial Holdings Inc. - Common Stock $4,422,376 1.18% 15,700 $295,728 Up ×2
ABT Abbott Laboratories Common Stock $4,332,291 1.16% 47,744 $97,131 Up ×1
MSI Motorola Solutions, Inc. Common Stock $4,274,165 1.14% 10,292 $757,701 Up ×1
COR Cencora, Inc. Common Stock $4,263,094 1.14% 15,065 $952,326 Up ×2
OTIS Otis Worldwide Corporation Common Stock $4,112,632 1.10% 57,439 Up ×1
ACN Accenture plc Class A Ordinary Shares (Ireland) $4,082,254 1.09% 32,805 $-115,401 Up ×1
UBER Uber Technologies, Inc. Common Stock $4,065,350 1.09% 56,338 $-675,818 Down ×1
BOOT Boot Barn Holdings, Inc. Common Stock $4,058,947 1.08% 24,709 $657,128 Up ×3
LLY Eli Lilly and Company Common Stock $4,031,284 1.08% 3,361 $1,530,783 Up ×1
A Agilent Technologies, Inc. Common Stock $4,019,701 1.07% 30,262 $173,276 Down ×1
TEL TE Connectivity plc Ordinary Shares $4,017,079 1.07% 19,925 $-109,410 Up ×1
DKS Dick's Sporting Goods Inc Common Stock $4,016,578 1.07% 17,709 $120,325 Down ×1
MTD Mettler-Toledo International, Inc. Common Stock $4,012,659 1.07% 3,141 $1,509,351 Up ×1
MCD McDonald's Corporation Common Stock $4,005,994 1.07% 14,820 $1,808,539 Up ×1
CDW CDW Corporation - Common Stock $3,995,301 1.07% 28,408 $768,415 Up ×1
MELI MercadoLibre, Inc. - Common Stock $3,859,865 1.03% 2,274 $1,551,445 Up ×1
BKNG Booking Holdings Inc. - Common Stock $3,852,479 1.03% 21,614 $272,750 Up ×4
AXP American Express Company Common Stock $3,827,637 1.02% 11,316 $2,298,977 Up ×1
HCA HCA Healthcare, Inc. Common Stock $3,757,760 1.00% 9,638
TSCO Tractor Supply Company - Common Stock $3,709,212 0.99% 117,343 $-480,286 Up ×3
SCI Service Corporation International Common Stock $3,679,806 0.98% 48,444 $-501,334 Down ×2
SPOT Spotify Technology S.A. Ordinary Shares $3,655,593 0.98% 7,962 Up ×1
CNM Core & Main, Inc. Class A Common Stock $3,638,291 0.97% 75,405 $-26,960 Up ×1
ORCL Oracle Corporation Common Stock $3,616,121 0.97% 24,675 $-400,368 Down ×2
ADSK Autodesk, Inc. - Common Stock $3,603,575 0.96% 18,535 $135,720 Up ×1
PG Procter & Gamble Company (The) Common Stock $3,504,843 0.94% 23,901 $120,302 Up ×1
HLI Houlihan Lokey, Inc. Class A Common Stock $3,444,995 0.92% 25,684 $-189,954 Up ×3
MANH Manhattan Associates, Inc. - Common Stock $3,396,586 0.91% 24,392 $-517,208 Down ×1
BR Broadridge Financial Solutions, Inc. Common Stock $3,394,854 0.91% 24,789 $23,010 Up ×3
DXCM DexCom, Inc. - Common Stock $3,367,433 0.90% 49,999 $224,423 Up ×1
AMAT Applied Materials, Inc. - Common Stock $3,367,011 0.90% 4,657 Up ×1
SYK Stryker Corporation Common Stock $3,309,283 0.88% 10,511 Up ×1
NOW ServiceNow, Inc. Common Stock $3,050,577 0.81% 30,727 $-573,582 Down ×1
BJ BJ's Wholesale Club Holdings, Inc. Common Stock $3,049,909 0.81% 34,968 $-325,616 Up ×1
PCTY Paylocity Holding Corporation - Common Stock $2,912,101 0.78% 27,859 $-619,332 Down ×2
ZTS Zoetis Inc. Class A Common Stock $2,516,753 0.67% 35,023 $-1,540,167 Up ×1
GEHC GE HealthCare Technologies Inc. - Common Stock $2,507,848 0.67% 39,179 Up ×1
MCO Moody's Corporation Common Stock $2,437,163 0.65% 5,381 $130,512 Up ×1
MSCI MSCI Inc. Common Stock $2,421,613 0.65% 4,324 $-472,461 Down ×4

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
V $8,997,878 2.40% up ×4
MA $7,252,032 1.94% up ×3
NFLX $5,546,923 1.48% up ×3
SPGI $4,876,531 1.30% up ×3
VEEV $4,873,149 1.30% up ×4
BOOT $4,058,947 1.08% up ×3
BKNG $3,852,479 1.03% up ×4
TSCO $3,709,212 0.99% up ×3
HLI $3,444,995 0.92% up ×3
BR $3,394,854 0.91% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ETN $4,945,549 11,606 1.32%
LOW $4,501,744 20,417 1.20%
APH $4,497,218 25,506 1.20%
OTIS $4,112,632 57,439 1.10%
HCA $3,757,760 9,638 1.00%
SPOT $3,655,593 7,962 0.98%
AMAT $3,367,011 4,657 0.90%
SYK $3,309,283 10,511 0.88%
GEHC $2,507,848 39,179 0.67%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
AAPL Trimmed -36K -$7.7M
GOOGL Trimmed -201 +$5.3M
META Bought more +7K +$4.0M
NVDA Trimmed -10K +$2.9M
WMS Bought more +15K +$2.6M
AVGO Trimmed -716 +$2.5M
AXP Bought more +6K +$2.3M
MCD Bought more +8K +$1.8M
MELI Bought more +940 +$1.6M
TSM Bought more +185 +$1.5M

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
ADBE June 30, 2025 25,069 $9,614,714 -38.3%
PPG June 30, 2025 57,239 $6,259,085 -7.5%
ADP June 30, 2025 19,462 $5,946,225 -15.6%
FISV Dec. 31, 2025 45,267 $5,836,274 -31.3%
ANET Sept. 30, 2025 56,598 $5,790,541 42.0%
NFLX June 30, 2025 5,866 $5,470,221 -95.0%
ROK June 30, 2025 21,015 $5,429,856 37.0%
ZBRA June 30, 2025 18,867 $5,331,060 21.8%
PEP Dec. 31, 2025 37,588 $5,278,859 -12.5%
YETI June 30, 2025 155,001 $5,130,533 28.6%
QCOM Sept. 30, 2025 31,772 $5,060,009 8.7%
HD March 31, 2026 13,782 $4,774,223 -14.5%
FBIN March 31, 2026 92,676 $4,671,148 -0.8%
NKE March 31, 2026 72,250 $4,609,550 -35.7%
G Sept. 30, 2025 104,377 $4,593,632 -20.0%
SNPS March 31, 2026 9,325 $4,390,676 23.2%
CDNS June 30, 2026 15,668 $4,347,870 -5.8%
ODFL March 31, 2026 27,308 $4,326,680 -8.2%
DECK Sept. 30, 2025 41,766 $4,304,822 -20.9%
IDXX Sept. 30, 2025 7,515 $4,030,595 -17.5%
BF-B (filed as BFB) Sept. 30, 2025 145,583 $3,917,639 No longer tracked
CLH March 31, 2026 16,511 $3,878,434 12.4%
EW June 30, 2025 53,202 $3,856,081 11.5%
TER March 31, 2026 19,704 $3,834,004 49.9%
VRRM Dec. 31, 2025 145,454 $3,592,714 -87.2%
HCA Dec. 31, 2025 8,274 $3,526,379 -6.8%
SFM March 31, 2026 43,598 $3,504,407 -15.8%
KEYS June 30, 2026 11,872 $3,348,023 9.7%
GWW June 30, 2026 3,041 $3,313,170 -5.4%
POOL June 30, 2026 16,359 $3,305,172 -25.9%
JKHY Dec. 31, 2025 21,637 $3,222,398 -20.5%
AXP Dec. 31, 2025 9,050 $3,006,048 -17.8%
TTC March 31, 2026 37,035 $2,936,135 5.9%
CPRT June 30, 2026 88,180 $2,928,017 -1.9%
IT Dec. 31, 2025 11,115 $2,921,800 -25.6%
CSCO June 30, 2026 37,801 $2,916,347 -4.0%
JNJ Dec. 31, 2025 15,001 $2,781,485 22.2%
AMGN Sept. 30, 2025 8,964 $2,502,838 42.8%
LULU Dec. 31, 2025 13,760 $2,448,317 -55.2%
CAT Dec. 31, 2025 5,115 $2,440,622 48.1%
COST June 30, 2026 2,156 $2,131,950 -1.3%
KO June 30, 2025 15,811 $1,132,384 22.3%