Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +27.2%
S&P 500 total return (same window) +37.0%
Excess return -9.8%

Annualized: +21.2% · 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: 97.9% · Options excluded: 0.0%

Sector breakdown

04
Energy 40.4%
Health Care 21.4%
Financials 9.4%
Technology 8.1%
Materials 6.8%
Industrials 6.1%
Communication Services 2.2%
Retail 1.4%
Consumer products 0.6%
Consumer Discretionary 0.6%
Consumer Staples 0.5%
Utilities 0.5%
Real Estate 0.4%
Other/Unmapped 1.6%

Full portfolio 235 positions

05
Type Streak 8Q trend
TTE TotalEnergies SE Ordinary Shares $2,362,006,632 40.07% 30,368,297 $-469,062,732
AZN AstraZeneca PLC - American Depositary Shares $942,096,200 15.98% 5,034,088 $-3,763,532 Up ×1
UBS UBS Group AG Registered Ordinary Shares $387,961,036 6.58% 7,812,061 $89,205,868
LIN Linde plc - Ordinary Shares $385,197,226 6.54% 742,277 $17,205,980
ALC Alcon Inc. Ordinary Shares $160,694,764 2.73% 2,374,092 $-14,389,225
TT Trane Technologies plc $152,157,439 2.58% 309,792 $22,647,983 Down ×1
NVDA NVIDIA Corporation - Common Stock $101,614,106 1.72% 507,842 $13,281,378 Up ×1
AAPL Apple Inc. - Common Stock $90,632,471 1.54% 313,217 $11,141,129
IR Ingersoll Rand Inc. Common Stock $55,968,588 0.95% 682,627 $1,276,513
MSFT Microsoft Corporation - Common Stock $53,778,293 0.91% 144,170 $661,859 Up ×2
AMZN Amazon.com, Inc. - Common Stock $50,632,950 0.86% 212,440 $6,388,071
QGEN Qiagen N.V. Common Shares $49,547,014 0.84% 1,278,373 $-1,630,334
GOOGL Alphabet Inc. - Class A Common Stock $47,320,076 0.80% 132,412 $9,243,681
V Visa Inc. $45,519,466 0.77% 132,675 $29,794,221 Up ×1
Unknown issuer (CUSIP: 866966104) $39,626,144 0.67% 543,225 $5,597,951
AVGO Broadcom Inc. - Common Stock $38,566,764 0.65% 102,096 $6,967,031
GOOG Alphabet Inc. - Class C Capital Stock $35,830,135 0.61% 101,407 $6,740,523
AMD Advanced Micro Devices, Inc. - Common Stock $25,277,718 0.43% 43,514 $15,144,870 Down ×1
JPM JP Morgan Chase & Co. Common Stock $22,923,247 0.39% 70,031 $2,322,928
MU Micron Technology, Inc. - Common Stock $22,185,454 0.38% 19,220 $16,556,364 Up ×3
CSCO Cisco Systems, Inc. - Common Stock $21,467,225 0.36% 182,762 $8,916,887 Up ×2
Unknown issuer (CUSIP: G9723Y105) $20,317,061 0.34% 1,692,938 Up ×1
ACN Accenture plc Class A Ordinary Shares (Ireland) $20,117,468 0.34% 161,664 $-11,938,887
AMAT Applied Materials, Inc. - Common Stock $19,096,599 0.32% 26,413 $14,351,187 Up ×1
INTC Intel Corporation - Common Stock $18,775,906 0.32% 134,469 $10,999,450 Down ×4
EL Estee Lauder Companies, Inc. (The) Common Stock $15,991,322 0.27% 202,550 $1,454,308
WMT Walmart Inc. - Common Stock $15,917,787 0.27% 140,542 $-1,548,773
BAC Bank of America Corporation Common Stock $15,449,956 0.26% 271,147 $11,616,744 Up ×1
JNJ Johnson & Johnson Common Stock $14,787,911 0.25% 58,227 $648,768 Up ×1
CAT Caterpillar, Inc. Common Stock $14,590,195 0.25% 13,701 $5,273,946 Up ×3
KO Coca-Cola Company (The) Common Stock $14,536,927 0.25% 178,872 $1,775,889 Up ×1
LLY Eli Lilly and Company Common Stock $13,650,713 0.23% 11,381 $3,182,811
GE GE Aerospace Common Stock $12,864,908 0.22% 34,423 $1,524,607 Down ×1
ABBV AbbVie Inc. Common Stock $12,582,000 0.21% 50,000 $-661,401 Down ×1
LRCX Lam Research Corporation - Common Stock $11,419,979 0.19% 26,354 $1,548,246 Down ×4
GEV GE Vernova Inc. Common Stock $11,198,766 0.19% 9,532 $4,612,736 Up ×1
EWY iShares MSCI South Korea ETF $10,510,783 0.18% 52,000
MA Mastercard Incorporated Common Stock $10,219,613 0.17% 19,898 $277,378
PG Procter & Gamble Company (The) Common Stock $10,167,284 0.17% 69,335 $-2,456,050 Down ×1
NEE NextEra Energy, Inc. Common Stock $10,164,380 0.17% 115,807 $-591,774
MRK Merck & Company, Inc. Common Stock (new) $10,161,780 0.17% 79,080 $-834,530 Down ×1
PANW Palo Alto Networks, Inc. - Common Stock $10,008,255 0.17% 29,348 $5,489,155 Up ×1
CSX CSX Corporation - Common Stock $9,585,090 0.16% 201,664 $1,306,783
NFLX Netflix, Inc. - Common Stock $9,468,283 0.16% 132,609 $-3,983,390 Down ×1
SCHW Charles Schwab Corporation (The) Common Stock $8,884,863 0.15% 96,292 $-164,659
PFE Pfizer, Inc. Common Stock $8,288,577 0.14% 344,210 $-1,862,090 Down ×1
IBM International Business Machines Corporation Common Stock $8,278,541 0.14% 29,439 $-1,182,910 Down ×2
HD Home Depot, Inc. (The) Common Stock $8,024,528 0.14% 22,753 $-670,008 Down ×1
KMI Kinder Morgan, Inc. Common Stock $8,022,264 0.14% 250,931 Up ×1
F Ford Motor Company Common Stock $7,897,341 0.13% 568,154 $1,819,292 Up ×1
PGR Progressive Corporation (The) Common Stock $7,842,137 0.13% 35,899 $420,230 Down ×1
FAST Fastenal Company - Common Stock $7,637,923 0.13% 159,024 $629,574 Up ×1
EPHE iShares Trust $7,457,834 0.13% 305,000 $-42,997
GILD Gilead Sciences, Inc. - Common Stock $7,239,661 0.12% 57,303 $-1,142,051 Down ×2
RTX RTX Corporation Common Stock $7,229,092 0.12% 38,102 $-4,228,589 Down ×6
CNH CNH Industrial N.V. Common Shares $7,085,220 0.12% 630,919 $648,900 Up ×1
CRM Salesforce, Inc. Common Stock $6,872,988 0.12% 43,872 $-1,210,383 Up ×1
NOW ServiceNow, Inc. Common Stock $6,618,203 0.11% 66,662 $1,196,345 Up ×3
EXC Exelon Corporation - Common Stock $6,614,119 0.11% 141,873 $858,926 Up ×1
ROL Rollins, Inc. Common Stock $6,602,099 0.11% 158,172 $846,851 Up ×1
UBER Uber Technologies, Inc. Common Stock $6,560,138 0.11% 90,911 $-821,534 Down ×1
ORCL Oracle Corporation Common Stock $6,540,966 0.11% 44,633 $-1,598,630 Down ×1
MNST Monster Beverage Corporation - Common Stock $6,308,356 0.11% 65,630 $472,500 Down ×1
KDP Keurig Dr Pepper Inc. - Common Stock $6,173,303 0.10% 188,613 $86,281 Down ×1
CMG Chipotle Mexican Grill, Inc. Common Stock $6,050,844 0.10% 177,966 $453,351 Up ×1
MS Morgan Stanley Common Stock $5,924,821 0.10% 28,343 $-60,754 Down ×4
APH Amphenol Corporation Common Stock $5,820,147 0.10% 33,009 $1,649,460
HBAN Huntington Bancshares Incorporated - Common Stock $5,735,602 0.10% 323,497 $115,343 Down ×1
PCG Pacific Gas & Electric Co. Common Stock $5,686,035 0.10% 338,052 $-819,995 Down ×1
BKNG Booking Holdings Inc. - Common Stock $5,509,933 0.09% 30,913 $3,602,658 Up ×1
CEG Constellation Energy Corporation - Common Stock When-Issued $5,372,243 0.09% 21,630 $574,449 Up ×1
CME CME Group Inc. - Class A Common Stock $5,231,021 0.09% 23,688 $3,040,705 Up ×2
KVUE Kenvue Inc. Common Stock $5,146,323 0.09% 269,300 $887,922 Up ×1
T AT&T Inc. $5,113,769 0.09% 247,042 $-2,047,979
CRH CRH PLC Ordinary Shares $4,999,789 0.08% 46,727 $-1,171,070 Down ×2
FTNT Fortinet, Inc. - Common Stock $4,793,712 0.08% 31,205 $2,243,639
HST Host Hotels & Resorts, Inc. - Common Stock $4,793,332 0.08% 202,165 $1,801,249 Up ×1
EIDO iShares Trust $4,723,323 0.08% 420,000 Up ×1
AGNC AGNC Investment Corp. - Common Stock $4,671,304 0.08% 428,560 Up ×1
JCI Johnson Controls International plc Ordinary Share $4,668,068 0.08% 31,949 $-2,975,484 Down ×2
TRV The Travelers Companies, Inc. Common Stock $4,630,923 0.08% 14,028 $2,559,412 Up ×1
ADP Automatic Data Processing, Inc. - Common Stock $4,449,439 0.08% 19,868 $-262,712 Down ×1
ARGT Global X Funds $4,395,734 0.07% 48,000 Up ×1
CAH Cardinal Health, Inc. Common Stock $4,363,265 0.07% 18,367 $482,134
HPE Hewlett Packard Enterprise Company Common Stock $4,351,175 0.07% 96,457 $1,488,713 Down ×2
SBUX Starbucks Corporation - Common Stock $4,324,476 0.07% 42,318 $-361,350 Down ×2
ADBE Adobe Inc. - Common Stock $4,217,056 0.07% 20,569 $-782,857
CPRT Copart, Inc. - Common Stock $4,191,007 0.07% 148,670 $639,039 Up ×1
WY Weyerhaeuser Company Common Stock $4,111,216 0.07% 171,730 $-84,148
HWM Howmet Aerospace Inc. Common Stock $4,081,833 0.07% 15,182 $2,191,370 Up ×2
GLW Corning Incorporated Common Stock $4,045,500 0.07% 15,838 Up ×1
CARR Carrier Global Corporation Common Stock $3,954,885 0.07% 53,918 $889,875 Down ×1
VZ Verizon Communications Inc. Common Stock $3,909,337 0.07% 92,332
SLB SLB Limited Common Shares $3,897,722 0.07% 83,840 Up ×1
EW Edwards Lifesciences Corporation Common Stock $3,822,568 0.06% 42,257 $438,627
MMM 3M Company Common Stock $3,724,740 0.06% 23,005 $-1,830,017 Down ×2
PWR Quanta Services, Inc. Common Stock $3,662,123 0.06% 5,086 $2,654,671 Up ×1
Unknown issuer (CUSIP: 438516205) $3,653,152 0.06% 16,316 Up ×1
Unknown issuer (CUSIP: 43849R105) $3,607,141 0.06% 16,316 Up ×1
LNG Cheniere Energy, Inc. Common Stock $3,553,840 0.06% 14,869 Up ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
MU $22,185,454 0.38% up ×3
CAT $14,590,195 0.25% up ×3
NOW $6,618,203 0.11% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: G9723Y105) $20,317,061 1,692,938 0.34%
EWY $10,510,783 52,000 0.18%
KMI $8,022,264 250,931 0.14%
EIDO $4,723,323 420,000 0.08%
AGNC $4,671,304 428,560 0.08%
ARGT $4,395,734 48,000 0.07%
GLW $4,045,500 15,838 0.07%
VZ $3,909,337 92,332 0.07%
SLB $3,897,722 83,840 0.07%
Unknown issuer (CUSIP: 438516205) $3,653,152 16,316 0.06%
Unknown issuer (CUSIP: 43849R105) $3,607,141 16,316 0.06%
LNG $3,553,840 14,869 0.06%
DELL $3,150,521 7,302 0.05%
AVTR $2,855,645 288,449 0.05%
STX $2,704,895 2,803 0.05%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
TTE Price move only +0 -$469.1M
UBS Price move only +0 +$89.2M
V Bought more +81K +$29.8M
TT Trimmed -976 +$22.6M
LIN Price move only +0 +$17.2M
MU Bought more +3K +$16.6M
AMD Trimmed -6K +$15.1M
ALC Price move only +0 -$14.4M
AMAT Bought more +13K +$14.4M
NVDA Bought more +1K +$13.3M

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
AMRZ Sept. 30, 2025 1,931,802 $103,158,760 -23.3%
QGEN (filed as QGENXXXX) March 31, 2026 1,345,657 $61,406,709 14.4%
META Sept. 30, 2025 34,038 $25,123,107 1.0%
TSLA Sept. 30, 2025 64,808 $20,586,909 -14.8%
EWY March 31, 2026 162,000 $15,911,365
EWT March 31, 2026 225,000 $14,298,885 66.4%
MICC March 31, 2026 776,922 $12,424,001 14.4%
THD June 30, 2026 150,000 $10,161,327
COTY March 31, 2026 2,700,000 $8,498,320 35.3%
HON June 30, 2026 35,793 $8,090,292 -4.4%
BRK-B (filed as BRKB) June 30, 2025 13,838 $7,369,843 No longer tracked
PEG June 30, 2025 42,341 $3,484,665 -18.4%
DBX June 30, 2025 120,102 $3,207,925 20.2%
JXN June 30, 2026 30,051 $3,176,992 30.7%
OC June 30, 2025 18,696 $2,670,163 -14.6%
HEI Dec. 31, 2025 7,716 $2,490,879 -6.8%
CL Dec. 31, 2025 31,109 $2,486,853 9.1%
ECL March 31, 2026 8,740 $2,294,425 4.2%
VRT Dec. 31, 2025 14,805 $2,233,482 56.5%
HOOD June 30, 2026 31,759 $2,200,899 13.8%
PNR June 30, 2026 23,370 $2,035,761 -31.2%
SNOW Dec. 31, 2025 8,850 $1,996,118 54.5%
BSY June 30, 2025 45,819 $1,802,520 -35.6%
NET Dec. 31, 2025 7,624 $1,636,034 82.3%
BHF June 30, 2026 26,791 $1,604,245 -21.3%
DVA Sept. 30, 2025 11,250 $1,602,563 34.5%
MET June 30, 2025 19,591 $1,572,962 20.5%
STT March 31, 2026 12,167 $1,569,665 39.4%
AIG June 30, 2026 20,619 $1,551,580 0.8%
WBA Sept. 30, 2025 129,805 $1,490,161 No longer tracked
RPM June 30, 2025 12,428 $1,437,672 -13.2%
BX Dec. 31, 2025 8,116 $1,386,619 -27.6%
KLIC June 30, 2026 20,688 $1,359,615 -26.2%
RDDT June 30, 2025 12,849 $1,347,861 -0.1%
TFC Dec. 31, 2025 28,842 $1,318,656 -5.9%
O Dec. 31, 2025 21,260 $1,292,395 -4.6%
PEP Dec. 31, 2025 9,059 $1,272,246 -12.5%
HOLX June 30, 2025 20,438 $1,262,456 No longer tracked
KHC March 31, 2026 48,680 $1,180,490 -2.9%
APO June 30, 2026 10,437 $1,162,891 -2.5%
MANH June 30, 2025 6,649 $1,150,543 4.0%
HLT Dec. 31, 2025 4,416 $1,145,687 10.1%
CTRE June 30, 2025 40,057 $1,144,830 18.3%
CNM Dec. 31, 2025 19,625 $1,056,414 -19.5%
IBP Sept. 30, 2025 5,403 $974,269 -22.5%
ORI June 30, 2026 24,040 $959,196 -7.6%
QCOM Dec. 31, 2025 5,416 $901,006 5.7%
GM June 30, 2026 12,025 $895,862 4.1%
MSTR Dec. 31, 2025 2,779 $895,422 8.2%
ADM March 31, 2026 15,444 $887,876 13.5%
CTSH June 30, 2026 14,286 $876,446 51.5%
HWM June 30, 2025 6,660 $864,002 23.3%
COIN June 30, 2026 4,873 $850,875 28.8%
RDDT Dec. 31, 2025 3,589 $825,434 -34.6%
IBKR June 30, 2026 12,158 $815,437 2.3%
EA June 30, 2026 3,959 $807,121 No longer tracked
AYI June 30, 2025 3,061 $806,115 2.2%
CVNA Dec. 31, 2025 2,110 $795,976 -84.9%
ALSN June 30, 2025 8,117 $776,554 21.9%
EMR June 30, 2026 5,871 $769,218 13.4%
SIRI June 30, 2026 32,483 $749,708 -10.9%
MOH Dec. 31, 2025 3,885 $743,434 11.8%
RKLB June 30, 2026 11,545 $741,420 -28.2%
PECO June 30, 2025 20,314 $741,258 6.7%
LCID Dec. 31, 2025 29,640 $705,136 -60.5%
RAL Sept. 30, 2025 14,413 $698,886 69.1%
MSTR June 30, 2025 2,404 $693,002 -59.3%
MRC Dec. 31, 2025 47,425 $683,869 No longer tracked
COUR June 30, 2025 99,133 $660,226 -40.9%
DCI Sept. 30, 2025 9,181 $636,702 9.0%
DELL Dec. 31, 2025 4,429 $627,899 338.7%
LEA June 30, 2026 4,851 $587,359 -9.5%
STWD June 30, 2026 33,660 $579,625 -20.8%
ADSK June 30, 2026 2,333 $558,520 14.0%
CWEN June 30, 2026 14,072 $552,889 -13.6%
SBRA June 30, 2026 26,531 $510,191 -2.3%
UNIT (filed as UNITXXXX) Sept. 30, 2025 117,192 $506,269 29.9%
WOR June 30, 2026 9,217 $480,574 13.7%
RBLX Dec. 31, 2025 3,117 $431,767 -45.0%
UPS June 30, 2026 4,385 $431,396 -13.4%
LSTR Sept. 30, 2025 3,064 $425,957 39.7%
HROW June 30, 2026 11,806 $416,280 -28.0%
LYB Sept. 30, 2025 6,808 $393,911 20.8%
UEC June 30, 2026 28,793 $388,418 No longer tracked
VLTO June 30, 2025 3,938 $383,759 -4.3%
CXM Sept. 30, 2025 44,386 $375,506 -32.3%
ODFL Dec. 31, 2025 2,634 $370,815 14.4%
AFG June 30, 2026 2,876 $367,294 -0.4%
RBLX June 30, 2026 6,314 $357,120 -18.0%
BMY March 31, 2026 6,582 $355,033 -3.0%
BCC June 30, 2026 4,585 $347,772 -3.6%
WSM March 31, 2026 1,927 $344,143 30.9%
MDB Dec. 31, 2025 1,099 $341,108 -14.4%
IDXX March 31, 2026 491 $332,176 -6.2%
AME June 30, 2025 1,896 $326,378 39.2%
OKLO Dec. 31, 2025 2,874 $320,825 -49.9%
K Dec. 31, 2025 3,682 $301,998 No longer tracked
PGNY June 30, 2026 17,258 $293,041 -10.3%
HPQ Dec. 31, 2025 10,394 $283,029 41.2%
ZTS Sept. 30, 2025 1,771 $276,187 -51.2%
U March 31, 2026 6,180 $272,971 108.2%
BF-B (filed as BFB) June 30, 2026 10,301 $272,358 No longer tracked
KRMN June 30, 2026 3,395 $271,770 -33.9%
DD March 31, 2026 6,737 $270,827 185.3%
VFC Sept. 30, 2025 22,417 $263,400 -1.1%
THO Dec. 31, 2025 2,428 $251,759 -34.5%
PINS Dec. 31, 2025 7,404 $238,187 -22.5%
DAN June 30, 2026 6,864 $230,974 3.3%
CLX June 30, 2025 1,494 $219,992 -31.7%
AXON March 31, 2026 383 $217,517 -3.0%
CABO June 30, 2025 809 $215,008 -91.7%
BXC Sept. 30, 2025 2,864 $213,024 2.1%
HQY Sept. 30, 2025 1,987 $208,158 -3.4%
HPP Dec. 31, 2025 61,086 $168,597 3.9%
VZ June 30, 2025 3,285 $149,008 6.0%
CVNA June 30, 2025 533 $111,440 -81.1%
KHC June 30, 2025 2,943 $89,556 -15.4%
GMREXXXX Sept. 30, 2025 12,917 $89,515 No longer tracked
NKE June 30, 2025 1,317 $83,604 -52.2%
GT June 30, 2026 12,163 $80,641 -29.1%
GEHC June 30, 2025 993 $80,146 -11.2%
RKT June 30, 2025 5,599 $67,580 -17.6%
AHH June 30, 2026 10,730 $59,015 No longer tracked
BX June 30, 2025 396 $55,353 -25.4%
KRO June 30, 2025 5,530 $41,365 28.1%
LOW June 30, 2025 133 $31,020 -19.1%
SPG June 30, 2025 178 $29,563 25.3%