Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +28.2%
S&P 500 total return (same window) +37.0%
Excess return -8.8%

Annualized: +22.0% · 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: 93.7% · Options excluded: 0.0%

Sector breakdown

04
Healthcare 20.2%
Financials 19.8%
Technology 18.7%
Retail 11.9%
Industrials 8.9%
Communication Services 8.5%
Utilities 4.4%
Real Estate 2.7%
Energy 2.7%
Consumer products 2.0%
Other/Unmapped 0.2%

Full portfolio 38 positions

05
Type Streak 8Q trend
LLY Eli Lilly and Company Common Stock $24,691,466 10.96% 20,586 $5,443,439 Down ×4
GOOG Alphabet Inc. - Class C Capital Stock $18,751,576 8.32% 53,071 $1,821,673 Down ×4
AAPL Apple Inc. - Common Stock $16,430,472 7.29% 56,782 $1,730,419 Down ×4
JPM JP Morgan Chase & Co. Common Stock $13,025,963 5.78% 39,794 $1,197,616 Down ×4
AMZN Amazon.com, Inc. - Common Stock $12,968,556 5.75% 54,412 $1,578,478 Down ×1
ASML ASML Holding N.V. - New York Registry Shares $12,881,624 5.72% 6,475 $4,222,263 Down ×4
MSFT Microsoft Corporation - Common Stock $12,001,919 5.33% 32,175 $256,795 Up ×3
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $11,105,155 4.93% 22,193 $451,101 Down ×1
V Visa Inc. $10,455,005 4.64% 30,473 $1,157,175 Down ×1
SO Southern Company (The) Common Stock $8,628,639 3.83% 90,154 $139,222 Up ×1
JNJ Johnson & Johnson Common Stock $8,131,357 3.61% 32,017 $258,433 Down ×4
HD Home Depot, Inc. (The) Common Stock $7,264,503 3.22% 20,598 $361,431 Down ×2
RTX RTX Corporation Common Stock $6,819,655 3.03% 35,944 $-106,227 Up ×2
UNH UnitedHealth Group Incorporated Common Stock (DE) $6,704,112 2.97% 16,130 $2,315,683 Down ×1
COST Costco Wholesale Corporation - Common Stock $6,577,290 2.92% 7,031 $-471,456 Down ×6
DLR Digital Realty Trust, Inc. Common Stock $6,095,304 2.70% 33,942 $47,456 Up ×1
LMT Lockheed Martin Corporation Common Stock $5,807,335 2.58% 11,399 $-1,080,293 Up ×1
ITW Illinois Tool Works Inc. Common Stock $5,698,532 2.53% 21,069 $200,426 Down ×4
SYK Stryker Corporation Common Stock $5,655,786 2.51% 17,964 $-295,307 Down ×1
PNC PNC Financial Services Group, Inc. (The) Common Stock $5,090,106 2.26% 20,673 $701,696 Down ×2
PG Procter & Gamble Company (The) Common Stock $4,570,622 2.03% 31,169 $-59,547 Down ×4
AR Antero Resources Corporation Common Stock $4,462,780 1.98% 127,000 $-498,456 Up ×2
BLK BlackRock, Inc. Common Stock $3,170,263 1.41% 3,297 $2,390 Up ×2
XEL Xcel Energy Inc. - Common Stock $922,005 0.41% 11,482 $9,160 Down ×1
CSX CSX Corporation - Common Stock $902,357 0.40% 18,985 $101,471 Down ×1
NVDA NVIDIA Corporation - Common Stock $751,338 0.33% 3,755 $116,522 Up ×3
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $748,850 0.33% 1 $30,710
DVN Devon Energy Corporation Common Stock $673,516 0.30% 16,300 $311,212 Up ×2
MOG-A (filed as MOGA) Moog Inc. Class A $656,952 0.29% 1,550 $203,360
USB U.S. Bancorp Common Stock $602,188 0.27% 9,970 $83,648
KMI Kinder Morgan, Inc. Common Stock $549,884 0.24% 17,200 $-51,980 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $434,205 0.19% 1,215 $77,631 Down ×4
MCO Moody's Corporation Common Stock $430,274 0.19% 950 $-5,976 Down ×6
PSX Phillips 66 Common Stock $398,789 0.18% 2,359 $-30,974
AEP American Electric Power Company, Inc. - Common Stock $383,068 0.17% 2,800 $16,044
KNG First Trust Exchange-Traded Fund IV $356,025 0.16% 7,050 $12,619
ABBV AbbVie Inc. Common Stock $311,027 0.14% 1,236 $42,209
CAT Caterpillar, Inc. Common Stock $244,927 0.11% 230 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
MSFT $12,001,919 5.33% up ×3
NVDA $751,338 0.33% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
CAT $244,927 230 0.11%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
LLY Trimmed -341 +$5.4M
ASML Trimmed -81 +$4.2M
UNH Trimmed -88 +$2.3M
GOOG Trimmed -6K +$1.8M
AAPL Trimmed -1K +$1.7M
AMZN Trimmed -277 +$1.6M
JPM Trimmed -416 +$1.2M
V Trimmed -290 +$1.2M
LMT Bought more +3 -$1.1M
PNC Trimmed -416 +$702K

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
CEG June 30, 2026 6,880 $1,921,240 3.7%
META Sept. 30, 2025 565 $417,021 -0.9%
ADBE Dec. 31, 2025 913 $322,061 -32.1%
ORCL Dec. 31, 2025 985 $277,021 -27.0%
ADP June 30, 2025 820 $250,535 -16.4%
OEF March 31, 2026 700 $240,079
DVN June 30, 2025 6,325 $236,555 49.8%
ARKK Dec. 31, 2025 2,550 $220,065