Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +16.5%
S&P 500 total return (same window) +37.0%
Excess return -20.5%

Annualized: +13.0% · 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: 97.5% · Options excluded: 0.0%

Sector breakdown

04
Health Care 30.0%
Financials 23.6%
Consumer Discretionary 14.5%
Retail 10.0%
Communication Services 7.9%
Industrials 7.1%
Technology 3.1%
Energy 0.3%
Other/Unmapped 3.6%

Full portfolio 24 positions

05
Type Streak 8Q trend
MS Morgan Stanley Common Stock $23,473,729 15.64% 112,293 $4,993,670
AMZN Amazon.com, Inc. - Common Stock $14,960,840 9.97% 62,771 $1,887,524
TEVA Teva Pharmaceutical Industries Limited American Depositary Shares $12,454,288 8.30% 367,600 $1,382,176
UNH UnitedHealth Group Incorporated Common Stock (DE) $9,850,015 6.56% 23,699
FLUT Flutter Entertainment plc Ordinary Shares $9,443,062 6.29% 92,425 $20,333
LLY Eli Lilly and Company Common Stock $7,010,668 4.67% 5,845 $2,654,637 Up ×1
DXCM DexCom, Inc. - Common Stock $6,862,494 4.57% 101,893 $463,614
GOOGL Alphabet Inc. - Class A Common Stock $6,607,057 4.40% 18,488 $1,290,648
MLM Martin Marietta Materials, Inc. Common Stock $6,375,419 4.25% 11,055 $1,879,081 Up ×1
V Visa Inc. $5,901,148 3.93% 17,200 $702,620
MSGS Madison Square Garden Sports Corp. Class A Common Stock (New) $5,252,852 3.50% 13,072 $1,051,511
CHDN Churchill Downs, Incorporated - Common Stock $5,125,526 3.42% 57,179 $-10,864
OSCR Oscar Health, Inc. Class A Common Stock $4,919,386 3.28% 172,489
HQY HealthEquity, Inc. - Common Stock $4,661,957 3.11% 51,616
MSFT Microsoft Corporation - Common Stock $4,588,146 3.06% 12,300 $35,055
DASH DoorDash, Inc. - Common Stock $4,413,958 2.94% 23,920 $822,370
UBER Uber Technologies, Inc. Common Stock $4,215,299 2.81% 58,416 $13,436
HIMS Hims & Hers Health, Inc. Class A Common Stock $4,155,720 2.77% 119,865 Up ×1
IBIT iShares Bitcoin Trust ETF $2,767,032 1.84% 83,119 $-426,400
MLCO Melco Resorts & Entertainment Limited - American Depositary Shares $2,756,031 1.84% 522,966 $-214,416
Unknown issuer (CUSIP: 84615Q103) $2,648,330 1.76% 15,500 Up ×1
TOST Toast, Inc. Class A Common Stock $1,123,705 0.75% 40,392 $52,913
NEXT NextDecade Corporation - Common Stock $511,491 0.34% 67,837 $-8,140
SRZNW Surrozen, Inc. - Warrant $7,294 0.00% 442,052 $221

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
UNH $9,850,015 23,699 6.56%
OSCR $4,919,386 172,489 3.28%
HQY $4,661,957 51,616 3.11%
HIMS $4,155,720 119,865 2.77%
Unknown issuer (CUSIP: 84615Q103) $2,648,330 15,500 1.76%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MS Price move only +0 +$5.0M
LLY Bought more +1K +$2.7M
AMZN Price move only +0 +$1.9M
MLM Bought more +3K +$1.9M
TEVA Price move only +0 +$1.4M
GOOGL Price move only +0 +$1.3M
MSGS Price move only +0 +$1.1M
DASH Price move only +0 +$822K
V Price move only +0 +$703K
DXCM Price move only +0 +$464K

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
PFE Sept. 30, 2025 408,728 $9,907,567 9.1%
SPOT June 30, 2025 17,768 $9,772,933 -38.4%
ALNY June 30, 2025 34,975 $9,443,950 -32.6%
C Dec. 31, 2025 88,950 $9,028,425 10.1%
BBWI Dec. 31, 2025 300,619 $7,743,945 -20.0%
SWTX June 30, 2025 174,526 $7,701,832 No longer tracked
VRTX Dec. 31, 2025 18,778 $7,354,216 11.3%
CX March 31, 2026 620,000 $7,123,800 -16.7%
MASI Dec. 31, 2025 47,841 $7,058,940 No longer tracked
ZBH June 30, 2025 62,363 $7,058,244 -3.2%
CZR Dec. 31, 2025 247,851 $6,698,173 26.8%
ALC June 30, 2026 84,300 $6,352,005 -5.0%
BIIB March 31, 2026 36,065 $6,347,079 19.9%
NKE June 30, 2026 119,965 $6,336,551 -17.5%
WYNN Sept. 30, 2025 66,895 $6,266,055 -40.8%
BMY March 31, 2026 115,179 $6,212,755 0.8%
GLD Dec. 31, 2025 17,000 $6,042,990
NVO Dec. 31, 2025 103,000 $5,715,470 -26.7%
LLY Sept. 30, 2025 7,307 $5,696,026 49.8%
UNH Dec. 31, 2025 16,450 $5,680,185 12.7%
HQY March 31, 2026 60,484 $5,540,939 7.7%
MA Dec. 31, 2025 9,310 $5,295,621 -3.3%
XENE June 30, 2025 146,800 $4,925,140 21.5%
AORT June 30, 2026 132,588 $4,855,373 -0.7%
OSCR Dec. 31, 2025 248,280 $4,699,940 115.3%
GDX Dec. 31, 2025 37,800 $2,887,920 2.3%
LFST June 30, 2025 389,700 $2,595,402 128.8%
GOOGL June 30, 2025 13,900 $2,149,496 94.9%
EWTX June 30, 2025 74,700 $1,643,400 215.8%
BBNX June 30, 2026 163,124 $1,634,502 21.0%
RXST June 30, 2026 248,858 $1,532,965 -2.9%
GDX June 30, 2025 25,179 $1,157,479 68.6%
CMPS March 31, 2026 147,209 $1,015,742 115.2%