Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +70.4%
S&P 500 total return (same window) +37.0%
Excess return +33.4%

Annualized: +53.2% · 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: 100.0% · Options excluded: 43.6%

Sector breakdown

04
Technology 28.3%
Industrials 24.9%
Retail 22.4%
Communication Services 8.2%
Energy 6.9%
Financials 3.7%
Consumer Discretionary 3.7%
Healthcare 2.0%

Full portfolio 27 positions

05
Type Streak 8Q trend
AMZN Amazon.com, Inc. - Common Stock $154,921,000 13.19% 650,000 Call option $-32,522,000 Down ×1
NVDA NVIDIA Corporation - Common Stock $150,067,500 12.78% 750,000 Call option $1,827,500 Down ×1
VRT Vertiv Holdings, LLC Class A Common Stock $124,553,040 10.61% 372,000 $18,808,280 Down ×1
MSFT Microsoft Corporation - Common Stock $115,968,934 9.87% 310,892 $74,920,042 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $68,078,985 5.80% 190,500 $13,298,805
VRT Vertiv Holdings, LLC Class A Common Stock $66,964,000 5.70% 200,000 Call option $16,848,000
USFD US Foods Holding Corp. Common Stock $54,034,728 4.60% 528,457 $5,305,708
CCJ Cameco Corporation Common Stock $45,190,800 3.85% 443,656 $-2,994,678
FTI TechnipFMC plc Ordinary Share $35,547,275 3.03% 536,158 $-5,201,957 Down ×1
NVDA NVIDIA Corporation - Common Stock $35,532,983 3.03% 177,585 $-3,285,841 Down ×4
C Citigroup, Inc. Common Stock $33,041,197 2.81% 236,076 $-2,237,932 Down ×1
GPGI GPGI, Inc. Class A Common Stock $30,546,120 2.60% 1,927,200 $12,337,852 Up ×2
MIR Mirion Technologies, Inc. Class A Common Stock $29,748,326 2.53% 1,659,137 $-1,095,031
KBR KBR, Inc. Common Stock $29,524,946 2.51% 855,052 $-113,406 Up ×5
AMZN Amazon.com, Inc. - Common Stock $28,481,630 2.43% 119,500 $3,593,365
DIS Walt Disney Company (The) Common Stock $27,906,411 2.38% 289,997 $-43,500
WSC WillScot Holdings Corporation - Class A Common Stock $25,866,035 2.20% 896,259 $10,306,979
CPNG Coupang, Inc. Class A Common Stock $25,186,500 2.14% 1,450,000 Call option $11,970,500 Up ×1
FUN Six Flags Entertainment Corporation Common Stock New $23,882,710 2.03% 1,121,254 $3,980,451
CRON Cronos Group Inc. - Common Share $22,080,809 1.88% 7,942,737 $2,144,539
LULU lululemon athletica inc. - Common Stock $14,272,500 1.22% 125,000 Up ×1
BWXT BWX Technologies, Inc. Common Stock $13,625,500 1.16% 70,000 $-688,800
OWL Blue Owl Capital Inc. Class A Common Stock $8,425,979 0.72% 962,969 $-365,928
FUN Six Flags Entertainment Corporation Common Stock New $5,514,570 0.47% 258,900 Call option $919,095
ALH Alliance Laundry Holdings Inc. Common Stock $2,564,855 0.22% 96,714 $559,007
OWL Blue Owl Capital Inc. Class A Common Stock $1,750,000 0.15% 200,000 Call option $-76,000
CGTX Cognition Therapeutics, Inc. - Common Stock $1,146,583 0.10% 997,029 $389,339

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
KBR $29,524,946 2.51% up ×5

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
LULU $14,272,500 125,000 1.22%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MSFT Bought more +200K +$74.9M
AMZN Trimmed -250K -$32.5M
VRT Trimmed -50K +$18.8M
VRT Price move only +0 +$16.8M
GOOGL Price move only +0 +$13.3M
GPGI Bought more +862K +$12.3M
CPNG Bought more +750K +$12.0M
WSC Price move only +0 +$10.3M
USFD Price move only +0 +$5.3M
FTI Trimmed -53K -$5.2M

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
SPY June 30, 2025 400,000 $223,687,000 No longer tracked
SNOW June 30, 2025 150,000 $21,924,000 52.4%
CPNG June 30, 2025 817,133 $17,919,727 -54.0%
XLF Sept. 30, 2025 250,000 $13,090,000 -0.7%
GS June 30, 2025 20,000 $10,925,800 27.5%
GRAB June 30, 2025 186,100 $843,033 -38.8%
GRABW March 31, 2026 100,000 $29,400 -73.0%