Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +28.9%
S&P 500 total return (same window) +37.0%
Excess return -8.1%

Annualized: +22.5% · 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: 88.2% · Options excluded: 0.0%

Sector breakdown

04
Technology 20.8%
Financials 11.4%
Retail 7.3%
Industrials 7.2%
Communication Services 6.6%
Healthcare 6.2%
Real Estate 2.5%
Energy 2.3%
Consumer Discretionary 2.2%
Utilities 1.8%
Consumer products 1.5%
Materials 1.1%
Consumer Staples 0.1%
Other/Unmapped 29.2%

Full portfolio 207 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $76,674,098 4.66% 383,269 $11,791,373 Up ×2
BND Vanguard Total Bond Market ETF $72,186,627 4.38% 984,185 $4,007,689 Up ×6
AAPL Apple Inc. - Common Stock $71,137,886 4.32% 245,369 $10,160,356 Up ×2
MSFT Microsoft Corporation - Common Stock $64,511,596 3.92% 172,761 $8,497,467 Up ×6
GOOGL Alphabet Inc. - Class A Common Stock $62,337,829 3.78% 174,067 $5,302,592 Down ×1
EFA iShares Trust $55,761,426 3.39% 536,747 $5,979,199 Up ×6
IWF iShares Trust $44,588,087 2.71% 358,431 $7,006,050 Up ×2
AVGO Broadcom Inc. - Common Stock $43,134,607 2.62% 114,206 $5,263,593 Down ×1
AMZN Amazon.com, Inc. - Common Stock $41,791,015 2.54% 175,342 $8,663,376 Up ×6
IWB iShares Trust $33,361,331 2.03% 81,262 $7,969,981 Up ×1
VUG Vanguard Morningstar Growth ETF $32,353,425 1.96% 375,591 $4,554,799 Up ×2
META Meta Platforms, Inc. - Class A Common Stock $28,552,620 1.73% 50,696 $451,867 Up ×2
IWD iShares Trust $27,810,598 1.69% 114,711 $6,758,119 Up ×1
WMT Walmart Inc. - Common Stock $25,561,887 1.55% 225,500 $-3,615,965 Down ×3
IWM iShares Trust $24,067,557 1.46% 79,974 $4,712,645 Up ×2
JPM JP Morgan Chase & Co. Common Stock $23,869,905 1.45% 72,923 $1,597,868 Down ×3
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $23,291,049 1.41% 30,519 $8,281,735 Down ×1
XOM Exxon Mobil Corporation Common Stock $23,285,208 1.41% 170,236 $-7,185,587 Down ×3
VWO Vanguard FTSE Emerging Markets ETF $22,204,086 1.35% 371,955 $2,566,301 Up ×1
IVV iShares Core S&P 500 ETF $19,930,958 1.21% 26,614 $2,341,973 Down ×2
ABBV AbbVie Inc. Common Stock $19,084,631 1.16% 75,841 $2,924,913 Up ×2
JNJ Johnson & Johnson Common Stock $18,298,029 1.11% 71,998 $276,696 Down ×3
STX Seagate Technology Holdings PLC - Ordinary Shares (Ireland) $17,166,385 1.04% 17,789 $7,670,519 Down ×5
MU Micron Technology, Inc. - Common Stock $17,032,712 1.03% 14,756 Up ×1
VOO Vanguard S&P 500 ETF $17,013,658 1.03% 24,772 $2,045,029 Down ×1
PG Procter & Gamble Company (The) Common Stock $17,002,035 1.03% 115,947 $2,008,439 Up ×4
MS Morgan Stanley Common Stock $16,943,958 1.03% 81,060 $69,779 Down ×3
LLY Eli Lilly and Company Common Stock $16,109,540 0.98% 13,431 $4,526,882 Up ×2
TJX TJX Companies, Inc. (The) Common Stock $15,856,632 0.96% 104,668 $-1,912,907 Down ×1
VTI Vanguard Morningstar Total Stock Market ETF $15,692,656 0.95% 42,408 $2,087,746
TSLA Tesla, Inc. - Common Stock $15,645,475 0.95% 37,195 $5,088,804 Up ×2
PH Parker-Hannifin Corporation Common Stock $15,602,942 0.95% 15,950 $8,321,069 Up ×1
GILD Gilead Sciences, Inc. - Common Stock $14,333,671 0.87% 113,516 $-1,262,250 Up ×1
STLD Steel Dynamics, Inc. - Common Stock $14,062,936 0.85% 61,303 $986,656 Down ×3
DE Deere & Company Common Stock $13,950,839 0.85% 21,996 $3,369,786 Up ×1
MA Mastercard Incorporated Common Stock $13,892,363 0.84% 27,049 $482,964 Up ×2
MUB iShares Trust $13,263,842 0.81% 123,247 $2,202,480 Up ×5
OUT OUTFRONT Media Inc. Common Stock $13,081,014 0.79% 399,298 $7,964,698 Up ×2
FAST Fastenal Company - Common Stock $12,530,066 0.76% 260,880 $-355,680 Down ×3
ORLY O'Reilly Automotive, Inc. - Common Stock $11,049,983 0.67% 120,001 $-40,334 Down ×1
NSC Norfolk Southern Corporation Common Stock $11,033,584 0.67% 35,073 $1,180,300 Up ×1
VTV Vanguard Morningstar Value ETF $11,008,954 0.67% 50,516 $675,294 Down ×2
ETN Eaton Corporation, PLC Ordinary Shares $10,868,193 0.66% 25,505 $1,633,901 Down ×1
NEE NextEra Energy, Inc. Common Stock $10,818,462 0.66% 123,259 $-348,326 Up ×1
APH Amphenol Corporation Common Stock $10,709,345 0.65% 60,792 $3,231,448 Up ×4
WFC Wells Fargo & Company Common Stock $10,615,112 0.64% 128,450 $-1,568,972 Down ×1
JAZZ Jazz Pharmaceuticals plc - Ordinary Shares $10,519,054 0.64% 43,653 $2,251,505 Down ×3
QQQ Invesco QQQ Trust, Series 1 $9,425,920 0.57% 12,800 $2,018,969 Down ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $9,367,306 0.57% 9,262 $1,806,640 Up ×2
PLD Prologis, Inc. Common Stock $9,342,428 0.57% 68,968 $288,612 Up ×2
UNM Unum Group Common Stock $9,092,968 0.55% 101,711 $1,777,257 Up ×6
MAR Marriott International - Class A Common Stock $9,025,703 0.55% 24,357 $966,693 Down ×6
SPY SPY $8,383,987 0.51% 11,227 $1,082,620
HD Home Depot, Inc. (The) Common Stock $8,308,787 0.50% 23,559 $742,011 Up ×6
LOW Lowe's Companies, Inc. Common Stock $8,256,689 0.50% 37,447 $840,341 Up ×2
BIL SPDR SERIES TRUST $8,214,979 0.50% 89,644 $351,627 Up ×2
LHX L3Harris Technologies, Inc. Common Stock $8,011,851 0.49% 27,571 $-1,490,495 Up ×1
IVW iShares Trust $7,858,464 0.48% 57,140 $1,389,703 Down ×2
SPGI S&P Global Inc. Common Stock $7,577,496 0.46% 19,615 $-3,741 Up ×2
XEL Xcel Energy Inc. - Common Stock $7,500,533 0.46% 93,406 $-491,285 Down ×3
AMD Advanced Micro Devices, Inc. - Common Stock $7,422,279 0.45% 12,777 Up ×1
NFLX Netflix, Inc. - Common Stock $7,335,564 0.45% 102,769 $-2,196,391 Up ×5
IWV iShares Trust $7,117,042 0.43% 16,691 $930,022
ALL Allstate Corporation (The) Common Stock $7,093,702 0.43% 29,809 $978,211 Up ×2
COF Capital One Financial Corporation Common Stock $6,964,726 0.42% 34,716 $1,579,951 Up ×2
SNA Snap-On Incorporated Common Stock $6,879,834 0.42% 17,097 $827,854 Up ×6
GM General Motors Company Common Stock $6,834,540 0.41% 88,668 $-891,012 Down ×5
ORCL Oracle Corporation Common Stock $6,583,917 0.40% 44,932 $-1,044,630 Down ×1
INVH Invitation Homes Inc. Common Stock $6,508,690 0.40% 215,448 $1,327,665 Up ×6
UNH UnitedHealth Group Incorporated Common Stock (DE) $6,487,152 0.39% 15,606
CFG Citizens Financial Group, Inc. Common Stock $6,471,458 0.39% 92,357 $1,146,839 Up ×6
WM Waste Management, Inc. Common Stock $6,434,754 0.39% 28,874 $272,704 Up ×2
SYF Synchrony Financial Common Stock $6,427,297 0.39% 84,514 $772,114 Up ×4
VLO Valero Energy Corporation Common Stock $6,286,751 0.38% 24,139 Up ×1
AMP Ameriprise Financial, Inc. Common Stock $6,243,729 0.38% 13,610 $-429,828 Down ×1
BN Brookfield Corporation Class A Limited Voting Shares $6,115,495 0.37% 143,586 $352,482 Up ×4
COST Costco Wholesale Corporation - Common Stock $6,097,365 0.37% 6,469 $-46,624 Up ×2
ICE Intercontinental Exchange Inc. Common Stock $6,065,893 0.37% 49,277 $-1,713,644 Down ×1
TMUS T-Mobile US, Inc. - Common Stock $5,997,854 0.36% 35,763 $-323,843 Up ×1
BNL Broadstone Net Lease, Inc. Common Stock $5,734,893 0.35% 277,450 $857,713 Up ×6
ETR Entergy Corporation Common Stock $5,608,042 0.34% 48,825 $-378,278 Down ×1
PSX Phillips 66 Common Stock $5,572,063 0.34% 32,961 $900,785 Up ×2
STT State Street Corporation Common Stock $5,571,363 0.34% 32,850 $1,386,152 Down ×1
VEA VANGUARD TAX-MANAGED FUNDS $5,517,458 0.33% 77,438 $2,023,881 Up ×2
GD General Dynamics Corporation Common Stock $5,293,408 0.32% 14,943 $378,494 Up ×4
IWR iShares Trust $5,207,104 0.32% 47,200 $527,035 Down ×1
MDT Medtronic plc. Ordinary Shares $5,074,783 0.31% 64,820 $-1,177,623 Down ×1
EQH Equitable Holdings, Inc. Common Stock $4,830,355 0.29% 110,081 $868,485 Up ×2
D Dominion Energy, Inc. Common Stock $4,626,038 0.28% 67,741 $609,097 Up ×6
IVE iShares Trust $4,322,541 0.26% 19,037 $290,842 Down ×1
UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) $4,119,125 0.25% 68,516 $684,802 Up ×2
IX ORIX Corporation American Depositary Shares $4,058,790 0.25% 106,698 $2,490,762 Up ×1
URI United Rentals, Inc. Common Stock $3,786,115 0.23% 3,342 $1,545,797 Up ×3
CWI SPDR INDEX SHARES FUNDS $3,719,556 0.23% 91,457 $373,144
UBS UBS Group AG Registered Ordinary Shares $3,705,357 0.22% 74,765 $868,053 Up ×2
ASML ASML Holding N.V. - New York Registry Shares $3,626,750 0.22% 1,823 $1,336,445 Up ×2
AMAT Applied Materials, Inc. - Common Stock $3,256,392 0.20% 4,504 $1,706,032 Down ×1
VB Vanguard Morningstar Small-Cap ETF $3,190,641 0.19% 10,526 $433,671
SONY Sony Group Corporation American Depositary Shares $3,156,575 0.19% 157,357 $-36,033 Up ×6
SMFG Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) $3,010,385 0.18% 127,667 $589,829 Up ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
BND $72,186,627 4.38% up ×6
MSFT $64,511,596 3.92% up ×6
EFA $55,761,426 3.39% up ×6
AMZN $41,791,015 2.54% up ×6
PG $17,002,035 1.03% up ×4
MUB $13,263,842 0.81% up ×5
APH $10,709,345 0.65% up ×4
UNM $9,092,968 0.55% up ×6
HD $8,308,787 0.50% up ×6
NFLX $7,335,564 0.45% up ×5
SNA $6,879,834 0.42% up ×6
INVH $6,508,690 0.40% up ×6
CFG $6,471,458 0.39% up ×6
SYF $6,427,297 0.39% up ×4
BN $6,115,495 0.37% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
MU $17,032,712 14,756 1.03%
AMD $7,422,279 12,777 0.45%
UNH $6,487,152 15,606 0.39%
VLO $6,286,751 24,139 0.38%
MCHP $2,927,070 32,095 0.18%
OPRA $1,877,921 94,701 0.11%
SPYV $771,243 12,687 0.05%
SPYG $639,928 5,378 0.04%
OBK $497,280 9,722 0.03%
PSA $228,546 718 0.01%
HIW $218,057 7,230 0.01%
RYN $208,395 9,793 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
NVDA Bought more +11K +$11.8M
AAPL Bought more +5K +$10.2M
AMZN Bought more +17K +$8.7M
MSFT Bought more +21K +$8.5M
PH Bought more +8K +$8.3M
CRWD Trimmed -8K +$8.3M
IWB Bought more +10K +$8.0M
OUT Bought more +206K +$8.0M
STX Trimmed -6K +$7.7M
XOM Trimmed -9K -$7.2M

2 positions 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
UNH June 30, 2025 14,815 $7,760,464 34.0%
MRK June 30, 2025 72,868 $6,541,435 83.5%
TMO June 30, 2025 12,920 $6,428,996 66.2%
FDX June 30, 2025 25,745 $6,276,122
PINS Dec. 31, 2025 185,977 $5,982,898 -13.8%
HON June 30, 2026 26,403 $5,966,064 -1.2%
DHR Sept. 30, 2025 28,037 $5,528,940 16.3%
RF June 30, 2025 253,307 $5,504,349 21.0%
LDOS June 30, 2026 34,386 $5,346,005 32.2%
VRTX Sept. 30, 2025 11,928 $5,310,351 33.8%
CTRA June 30, 2026 151,081 $5,308,986 No longer tracked
BSX June 30, 2026 84,238 $5,284,868 7.1%
SSNC June 30, 2026 74,198 $5,013,561 33.7%
UL (filed as ULXXXX) Dec. 31, 2025 51,338 $3,042,728 1.3%
CNH Dec. 31, 2025 262,047 $2,842,166 24.6%
TTE Dec. 31, 2025 43,269 $2,582,187 41.8%
SAP March 31, 2026 9,033 $2,195,426 39.1%
EMN June 30, 2025 21,389 $1,884,577 -13.0%
HST June 30, 2025 126,307 $1,794,824 60.9%
CMCSA Sept. 30, 2025 44,024 $1,551,087
NICE June 30, 2026 13,286 $1,464,917 33.4%
IBN Dec. 31, 2025 45,319 $1,369,636 -1.1%
SUB June 30, 2025 12,649 $1,335,735
TKC June 30, 2025 205,901 $1,280,708 -23.8%
CHKP March 31, 2026 5,424 $1,006,470 11.3%
JHG June 30, 2025 22,603 $817,098 No longer tracked
NVO Sept. 30, 2025 11,481 $792,423 -29.6%
MGA June 30, 2025 23,208 $788,839 65.7%
CMG Sept. 30, 2025 13,284 $745,896 -29.8%
ANSS Sept. 30, 2025 2,056 $722,111 No longer tracked
SLB Sept. 30, 2025 20,438 $690,806 54.4%
GVI Sept. 30, 2025 5,441 $581,044
GVI March 31, 2026 5,297 $568,633
DIS June 30, 2025 5,733 $565,848 -9.3%
KD Dec. 31, 2025 18,670 $560,662 -44.4%
PNFP Sept. 30, 2025 5,004 $550,506 7.0%
CACI June 30, 2026 900 $489,479 36.9%
EXEL March 31, 2026 10,916 $478,974 50.5%
VO June 30, 2025 1,835 $474,568 14.5%
SMBC Dec. 31, 2025 8,656 $454,959 21.6%
BLDR June 30, 2025 3,512 $438,787 -51.3%
MUSA Sept. 30, 2025 1,081 $437,715 37.7%
HURN June 30, 2026 3,235 $412,432 117.0%
FISV Dec. 31, 2025 3,167 $408,323 -25.8%
PRGS Sept. 30, 2025 6,221 $397,149 5.7%
IBM June 30, 2026 1,612 $390,733 -9.8%
SR June 30, 2026 3,719 $336,718 9.2%
HIW Dec. 31, 2025 9,933 $316,068 18.2%
XLE June 30, 2025 3,161 $295,396 63.5%
CCOI June 30, 2025 4,784 $293,306 -84.5%
BXC June 30, 2025 3,872 $290,324 3.2%
HYBL Sept. 30, 2025 10,000 $285,900
ABT June 30, 2026 2,113 $216,941 14.3%
BX March 31, 2026 1,380 $212,713 2.6%
PCH March 31, 2026 5,302 $210,914 No longer tracked
MCO March 31, 2026 400 $204,340 10.8%
USFR Sept. 30, 2025 4,000 $201,240 0.5%
MCO Sept. 30, 2025 400 $200,636 1.5%