Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +31.0%
S&P 500 total return (same window) +37.0%
Excess return -6.0%

Annualized: +24.2% · 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: 95.2% · Options excluded: 0.1%

Sector breakdown

04
Industrials 46.9%
Communication Services 8.0%
Technology 7.9%
Healthcare 6.5%
Retail 2.8%
Financials 2.7%
Energy 2.2%
Consumer Discretionary 0.8%
Real Estate 0.7%
Materials 0.3%
Utilities 0.3%
Consumer products 0.1%
Consumer Staples 0.1%
Other/Unmapped 20.7%

Full portfolio 132 positions

05
Type Streak 8Q trend
UNP Union Pacific Corporation Common Stock $279,719,904 37.30% 1,028,382 $24,769,228 Down ×2
RSP Invesco Exchange-Traded Fund Trust $47,033,872 6.27% 221,055 $-95,260,414 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $44,633,410 5.95% 79,237 $-41,445,837 Down ×2
BKSY BlackSky Technology Inc. Class A Common Stock $26,048,857 3.47% 932,982 $-5,249,579 Down ×1
NVDA NVIDIA Corporation - Common Stock $17,570,503 2.34% 87,813 $-91,197,197 Down ×2
XLK SELECT SECTOR SPDR TRUST $16,562,856 2.21% 86,935 $-4,974,254 Down ×1
DNLI Denali Therapeutics Inc. - Common Stock $16,075,000 2.14% 625,000 $4,075,000
VTV VANGUARD INDEX FUNDS $15,063,322 2.01% 69,120 $1,501,978
NAUT Nautilus Biotechnology, Inc. - Common Stock $13,413,482 1.79% 7,172,985 $-14,417,700
AMZN Amazon.com, Inc. - Common Stock $13,256,948 1.77% 55,622 $-46,765,008 Down ×1
PDO PIMCO Dynamic Income Opportunities Fund Common Shares of Beneficial Interest $10,355,385 1.38% 783,312
AAPL Apple Inc. - Common Stock $9,002,568 1.20% 31,112 $-7,210,806 Down ×5
JHX James Hardie Industries plc. Ordinary Shares $8,863,710 1.18% 338,568 $5,252,591 Up ×1
EWY iShares, Inc. $8,722,282 1.16% 43,201 $-7,609,141 Down ×1
SPYD SPDR SERIES TRUST $8,346,340 1.11% 174,939 $-1,573,060 Down ×1
QXO QXO, Inc. Common Stock $8,344,080 1.11% 482,875 $-85,127,448 Down ×2
XLE SELECT SECTOR SPDR TRUST $7,895,970 1.05% 148,672 $-1,211,677
MU Micron Technology, Inc. - Common Stock $7,738,361 1.03% 6,704 Up ×1
SPY SPY $7,213,798 0.96% 9,660 $-29,067,370 Down ×1
MSFT Microsoft Corporation - Common Stock $7,148,182 0.95% 19,163 $-218,035,483 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $6,787,528 0.91% 18,993 $-18,777,706 Down ×2
LRCX Lam Research Corporation - Common Stock $6,547,617 0.87% 15,110 $-8,735,697 Down ×2
LLY Eli Lilly and Company Common Stock $6,420,549 0.86% 5,353 $-119,934,694 Down ×4
COF Capital One Financial Corporation Common Stock $6,301,274 0.84% 31,409 $-25,373,682 Down ×1
GRAB Grab Holdings Limited - Class A Ordinary Shares $6,032,000 0.80% 1,600,000 $176,000
XPO XPO, Inc. Common Stock $5,970,038 0.80% 29,081 $-141,214,041 Down ×2
VMC Vulcan Materials Company (Holding Company) Common Stock $5,604,600 0.75% 18,998 Up ×1
INSW International Seaways, Inc. Common Stock $5,602,329 0.75% 73,147 $271,376
IWM iShares Trust $5,449,262 0.73% 18,137 $951,286
EWW iShares, Inc. $4,809,753 0.64% 63,900 $-13,216,634 Down ×1
AVGO Broadcom Inc. - Common Stock $4,655,769 0.62% 12,325 $841,058
GOOG Alphabet Inc. - Class C Capital Stock $4,649,823 0.62% 13,160 $-20,523,003 Down ×1
XLV SELECT SECTOR SPDR TRUST $4,486,905 0.60% 28,280 $-16,166,925 Down ×1
DASH DoorDash, Inc. - Common Stock $4,415,249 0.59% 23,927
EPD Enterprise Products Partners L.P. Common Stock $4,411,972 0.59% 120,021 $-129,623
EWZ iShares, Inc. $4,201,272 0.56% 121,776 $-12,479,989 Down ×2
JAZZ Jazz Pharmaceuticals plc - Ordinary Shares $4,176,251 0.56% 17,331
IBIT iShares Bitcoin Trust ETF $3,899,591 0.52% 117,140 $-600,928
TRTX TPG RE Finance Trust, Inc. Common Stock $3,361,451 0.45% 401,607 $224,900
MUNI PIMCO ETF Trust $3,046,539 0.41% 57,919 $23,746
BAC Bank of America Corporation Common Stock $2,687,747 0.36% 47,170 $-4,603,303 Down ×2
PWR Quanta Services, Inc. Common Stock $2,656,947 0.35% 3,690 $-15,276,791 Down ×2
JPM JP Morgan Chase & Co. Common Stock $2,625,842 0.35% 8,022 $-5,723,890 Down ×2
MDY State Street SPDR S&P MIDCAP 400 ETF Trust $2,557,344 0.34% 3,636 Up ×1
COST Costco Wholesale Corporation - Common Stock $2,329,321 0.31% 2,490 $-8,260,737 Down ×2
CAT Caterpillar, Inc. Common Stock $2,321,482 0.31% 2,180 $777,039
INDA iShares Trust $2,295,153 0.31% 46,470 $118,498
WMT Walmart Inc. - Common Stock $2,290,004 0.31% 20,219 $-5,070,479 Down ×2
AMAT Applied Materials, Inc. - Common Stock $2,093,808 0.28% 2,896 $1,103,984
HD Home Depot, Inc. (The) Common Stock $2,054,713 0.27% 5,826 $-5,655,784 Down ×2
LIN Linde plc - Ordinary Shares $1,989,616 0.27% 3,834 $-16,067,450 Down ×2
MS Morgan Stanley Common Stock $1,912,088 0.25% 9,147 $-5,289,825 Down ×1
URI United Rentals, Inc. Common Stock $1,879,465 0.25% 1,659 $-3,423,723 Down ×2
RDDT Reddit, Inc. Class A Common Stock $1,782,667 0.24% 10,270 Up ×1
HAFN Hafnia Limited Common Shares $1,727,322 0.23% 264,379 $-305,513
CEG Constellation Energy Corporation - Common Stock When-Issued $1,664,576 0.22% 6,702 $-24,329,410 Down ×2
WMB Williams Companies, Inc. (The) Common Stock $1,597,641 0.21% 21,491 $33,526
PSX Phillips 66 Common Stock $1,588,394 0.21% 9,396 $-123,369
ASML ASML Holding N.V. - New York Registry Shares $1,412,502 0.19% 710 Up ×1
XBI SPDR SERIES TRUST $1,352,879 0.18% 8,549 Up ×1
MA Mastercard Incorporated Common Stock $1,322,006 0.18% 2,574 $35,881
DHR Danaher Corporation Common Stock $1,312,407 0.18% 6,890 $-5,075,975 Down ×2
STWD STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. $1,294,495 0.17% 79,029 $-66,384
TSLA Tesla, Inc. - Common Stock $1,281,989 0.17% 3,048 $148,895
GLD SPDR Gold Shares $1,230,758 0.16% 3,341
CG The Carlyle Group Inc. - Common Stock $1,161,773 0.15% 27,589 Up ×1
ETN Eaton Corporation, PLC Ordinary Shares $1,086,606 0.14% 2,550 $174,548
RGEN Repligen Corporation - Common Stock $1,071,873 0.14% 7,856 Up ×1
TXN Texas Instruments Incorporated - Common Stock $1,062,023 0.14% 3,563 $370,302
MRK Merck & Company, Inc. Common Stock (new) $919,546 0.12% 7,156 $58,751
UNH UnitedHealth Group Incorporated Common Stock (DE) $918,958 0.12% 2,211 $-23,684,979 Down ×1
CINF Cincinnati Financial Corporation - Common Stock $906,445 0.12% 4,896 $-3,314,783 Down ×1
LITE Lumentum Holdings Inc. - Common Stock $837,467 0.11% 976 Up ×1
TT Trane Technologies plc $745,090 0.10% 1,517 $112,895
ISRG Intuitive Surgical, Inc. - Common Stock $743,661 0.10% 1,870 $457,386 Up ×1
NFLX Netflix, Inc. - Common Stock $737,562 0.10% 10,330 $-58,724,195 Down ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $685,034 0.09% 1,369 $-387,416 Down ×1
INTC Intel Corporation - Common Stock $649,000 0.09% 4,648 $443,884
FANG Diamondback Energy, Inc. - Common Stock $626,831 0.08% 3,566 $-78,488
PG Procter & Gamble Company (The) Common Stock $626,446 0.08% 4,272 $9,398
V Visa Inc. $613,102 0.08% 1,787 $-22,791,759 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $550,703 0.07% 948
JNJ Johnson & Johnson Common Stock $488,892 0.07% 1,925 $18,345
NEM Newmont Corporation $478,021 0.06% 5,118 $-76,003
ITW Illinois Tool Works Inc. Common Stock $451,685 0.06% 1,670 $17,001
ABBV AbbVie Inc. Common Stock $450,184 0.06% 1,789 $61,094
IRWD Ironwood Pharmaceuticals, Inc. - Class A Common Stock $426,801 0.06% 101,378 $70,964
NEE NextEra Energy, Inc. Common Stock $423,402 0.06% 4,824 $-24,651
VTR Ventas, Inc. Common Stock $409,368 0.05% 4,610 $32,362
WELL Welltower Inc. Common Stock $394,020 0.05% 1,736 $50,795
VRTX Vertex Pharmaceuticals Incorporated - Common Stock $387,449 0.05% 780 $39,148
HCA HCA Healthcare, Inc. Common Stock $378,193 0.05% 970 $-80,850
SPGI S&P Global Inc. Common Stock $358,389 0.05% 880 $-21,774,178 Down ×1
DELL Dell Technologies Inc. Class C Common Stock $348,620 0.05% 808 $-3,723,609 Down ×2
TOL Toll Brothers, Inc. Common Stock $347,128 0.05% 2,107 $59,586
EQT EQT Corporation Common Stock $346,562 0.05% 6,518 $-68,244
NSC Norfolk Southern Corporation Common Stock $336,297 0.04% 1,069 $29,494
NRG NRG Energy, Inc. Common Stock $335,208 0.04% 2,295 $-183
PM Philip Morris International Inc Common Stock $334,141 0.04% 1,847 $28,758
KKR KKR & Co. Inc. Common Stock $326,737 0.04% 3,560 $-2,563

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
PDO $10,355,385 783,312 1.38%
MU $7,738,361 6,704 1.03%
VMC $5,604,600 18,998 0.75%
DASH $4,415,249 23,927 0.59%
JAZZ $4,176,251 17,331 0.56%
MDY $2,557,344 3,636 0.34%
RDDT $1,782,667 10,270 0.24%
ASML $1,412,502 710 0.19%
XBI $1,352,879 8,549 0.18%
GLD $1,230,758 3,341 0.16%
CG $1,161,773 27,589 0.15%
RGEN $1,071,873 7,856 0.14%
LITE $837,467 976 0.11%
AMD $550,703 948 0.07%
GNRC $275,827 942 0.04%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
RSP Trimmed -520K -$95.3M
AMZN Trimmed -233K -$46.8M
META Trimmed -71K -$41.4M
UNP Trimmed -22K +$24.8M
GOOGL Trimmed -70K -$18.8M
XLV Trimmed -113K -$16.2M
NAUT Price move only +0 -$14.4M
EWW Trimmed -176K -$13.2M
EWZ Trimmed -313K -$12.5M
LRCX Trimmed -56K -$8.7M

17 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
NVEE Sept. 30, 2025 3,925,599 $90,642,081 No longer tracked
COOP Dec. 31, 2025 285,331 $60,144,921 No longer tracked
TDG June 30, 2025 29,419 $40,695,009 -28.3%
SCHW June 30, 2026 390,217 $36,672,594 4.8%
PANW March 31, 2026 190,830 $35,150,886 151.5%
HYMB June 30, 2026 1,387,825 $34,418,060 -6.9%
GLD Dec. 31, 2025 96,309 $34,234,960
BLDR June 30, 2026 386,254 $31,800,292 -37.1%
APD Sept. 30, 2025 105,548 $29,770,869 1.8%
AON Sept. 30, 2025 83,237 $29,695,632 -24.4%
GEV June 30, 2026 33,199 $28,979,407 -15.8%
QQQ June 30, 2026 48,739 $28,131,176 1.1%
HYLB Sept. 30, 2025 706,147 $26,070,947 -4.3%
SPEM June 30, 2026 548,897 $25,748,758
MRSH June 30, 2025 99,304 $24,233,155 -22.2%
PDO Dec. 31, 2025 1,666,651 $23,533,112 -12.5%
FROG Sept. 30, 2025 521,809 $22,896,979 101.8%
IAU June 30, 2026 254,300 $22,419,088 3.2%
PGR June 30, 2025 76,175 $21,558,287 -21.2%
BA June 30, 2026 107,941 $21,483,497 -10.6%
KR June 30, 2025 307,616 $20,822,527 -17.7%
NKE June 30, 2025 327,194 $20,770,276 -52.3%
FCN June 30, 2025 119,739 $19,646,775 -15.5%
TIC June 30, 2026 2,902,230 $19,096,673 2.1%
DDOG June 30, 2025 188,470 $18,698,109 106.4%
ALNY Sept. 30, 2025 56,953 $18,571,804 -51.8%
SHW June 30, 2026 49,183 $15,765,611 -7.2%
STX Dec. 31, 2025 63,842 $15,070,543 208.3%
ARQT June 30, 2025 928,701 $14,524,884 79.5%
ROST Sept. 30, 2025 107,845 $13,758,865 50.0%
GRAB Sept. 30, 2025 2,643,417 $13,296,388 -48.8%
UBER Dec. 31, 2025 133,997 $13,127,686 -16.6%
OWL Sept. 30, 2025 648,965 $12,466,618 -46.4%
SLV Dec. 31, 2025 270,859 $11,476,296 -15.0%
ANET Dec. 31, 2025 77,364 $11,272,708 58.2%
JAZZ June 30, 2025 88,389 $10,973,494 122.1%
AON March 31, 2026 30,352 $10,710,614 -16.5%
FLKR June 30, 2026 263,694 $10,513,480
SHM June 30, 2026 206,569 $9,880,195 -2.7%
AGG June 30, 2026 99,128 $9,840,437
TKO Sept. 30, 2025 53,678 $9,766,712 -13.1%
VNQ June 30, 2026 106,191 $9,419,142
LPX June 30, 2026 113,924 $8,287,971 -17.2%
COPX June 30, 2026 104,678 $7,992,165
WAL Dec. 31, 2025 90,774 $7,871,921 -9.1%
DAL Dec. 31, 2025 129,666 $7,358,545 21.2%
DASH Dec. 31, 2025 25,807 $7,019,246 -16.5%
WMS June 30, 2026 50,016 $6,858,694 -18.9%
LION Dec. 31, 2025 973,567 $6,717,612 22.2%
IBKR Dec. 31, 2025 77,749 $5,349,909 37.3%
FLJP June 30, 2026 146,612 $5,304,422
XLP Dec. 31, 2025 65,127 $5,104,003 No longer tracked
MLM June 30, 2026 8,407 $4,949,033 -16.4%
XLU Dec. 31, 2025 56,688 $4,943,760 No longer tracked
MCK Sept. 30, 2025 6,717 $4,922,083 16.8%
JHX Dec. 31, 2025 237,647 $4,565,199 20.4%
ET Sept. 30, 2025 209,295 $3,794,518 19.3%
SPYM June 30, 2026 45,151 $3,455,858 3.1%
INSW Sept. 30, 2025 90,265 $3,292,867 151.3%
SAND Dec. 31, 2025 226,238 $2,831,531 No longer tracked
VOO June 30, 2026 3,941 $2,354,945
PSX June 30, 2025 16,290 $2,011,489 121.8%
IYK Dec. 31, 2025 25,446 $1,740,252 7.2%
HLMN June 30, 2025 197,945 $1,739,937 -1.4%
PAA Sept. 30, 2025 85,192 $1,560,717 39.2%
HAFN Sept. 30, 2025 264,379 $1,327,709 71.1%
WU Sept. 30, 2025 149,869 $1,261,897 -24.9%
CGIC June 30, 2026 32,733 $1,083,790
SPTI June 30, 2026 35,199 $1,008,803
SPOT June 30, 2025 1,347 $740,890 -38.4%
TT Sept. 30, 2025 1,517 $663,551 9.9%
GPOR March 31, 2026 2,819 $586,324 -27.0%
SLM Dec. 31, 2025 20,000 $553,600 -15.9%
XLC June 30, 2026 4,267 $473,040 3.0%
EEM Sept. 30, 2025 9,500 $458,280
DFS June 30, 2025 2,666 $455,086 No longer tracked
HON June 30, 2026 1,900 $429,457 -4.4%
MELI March 31, 2026 199 $400,838 -1.9%
EXPE March 31, 2026 1,154 $326,940 14.8%
RELY Sept. 30, 2025 16,768 $314,735 33.6%
CVX June 30, 2026 1,518 $314,074 24.7%
CME June 30, 2025 1,180 $313,042 -4.5%
DIS June 30, 2026 3,050 $293,959 6.2%
FISV March 31, 2026 4,367 $293,331 -20.5%
ACN June 30, 2025 871 $271,787 -33.5%
INTU June 30, 2026 619 $267,643 7.7%
ORCL Dec. 31, 2025 926 $260,428 -27.0%
CHTR Sept. 30, 2025 636 $260,003 -60.3%
NU June 30, 2025 24,359 $249,436 -2.1%
CVS March 31, 2026 3,119 $247,524 20.4%
CSGP March 31, 2026 3,637 $244,552 -32.1%
FOXA March 31, 2026 3,218 $235,139 6.6%
ACN March 31, 2026 871 $233,689 0.3%
WLK June 30, 2026 1,978 $231,070 -13.0%
VZ Dec. 31, 2025 5,193 $228,232 12.7%
A March 31, 2026 1,666 $226,693 47.2%
FISV June 30, 2025 1,000 $220,830 -74.3%
LPLA Sept. 30, 2025 570 $213,733 -4.9%
JLL March 31, 2026 630 $211,976 0.8%
SYK March 31, 2026 598 $210,179 -16.2%
KO Sept. 30, 2025 2,912 $206,024 29.1%
HAL June 30, 2025 8,064 $204,584 56.3%
LPLA March 31, 2026 570 $203,587 5.2%
AMD March 31, 2026 948 $203,024 211.6%
CSCO Sept. 30, 2025 2,916 $202,312 64.0%
CME June 30, 2026 683 $201,724 19.2%
IBM Sept. 30, 2025 682 $201,040 -21.1%
FOXA June 30, 2025 3,539 $200,307 11.1%
DOC Dec. 31, 2025 10,451 $200,137 21.2%
ALEC June 30, 2025 93,633 $115,169 29.3%
UNBX June 30, 2025 41,238 $42,888 No longer tracked