Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +24.5%
S&P 500 total return (same window) +37.0%
Excess return -12.5%

Annualized: +19.2% · 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: 97.3% · Options excluded: 0.0%

Sector breakdown

04
Technology 29.4%
Industrials 12.4%
Healthcare 12.1%
Financials 11.7%
Communication Services 10.6%
Retail 6.6%
Consumer products 3.0%
Utilities 2.9%
Real Estate 2.5%
Consumer Discretionary 2.5%
Consumer Staples 1.9%
Materials 1.5%
Energy 0.1%
Other/Unmapped 2.7%

Full portfolio 395 positions

05
Type Streak 8Q trend
AAPL Apple Inc. - Common Stock $29,454,589 7.31% 101,792 $3,628,479 Up ×1
NVDA NVIDIA Corporation - Common Stock $18,826,953 4.67% 94,092 $2,890,757 Up ×2
ASML ASML Holding N.V. - New York Registry Shares $15,314,709 3.80% 7,698 $3,596,305 Down ×2
AVGO Broadcom Inc. - Common Stock $13,523,828 3.36% 35,801 $1,276,827 Down ×2
CSCO Cisco Systems, Inc. - Common Stock $13,233,204 3.28% 112,661 $4,103,238 Down ×1
ANET Arista Networks, Inc. Common Stock $9,191,357 2.28% 54,105 $2,592,423 Up ×3
GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares) $8,320,102 2.06% 158,720 $-619,464 Down ×1
AWK American Water Works Company, Inc. Common Stock $6,662,290 1.65% 50,633 $-473,317 Down ×5
PLD Prologis, Inc. Common Stock $6,583,977 1.63% 48,601 $-851,148 Down ×1
HASI HA Sustainable Infrastructure Capital, Inc. Common Stock $6,536,867 1.62% 167,397 $314,047 Down ×6
FERG Ferguson Enterprises Inc. Common Stock $6,325,794 1.57% 26,654 $-12,347 Down ×1
UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) $6,225,606 1.54% 103,553 $-55,166 Down ×2
CAC Camden National Corporation - Common Stock $5,914,426 1.47% 109,082 $801,451 Up ×4
IBM International Business Machines Corporation Common Stock $5,846,637 1.45% 20,791 $1,227,411 Up ×2
CRM Salesforce, Inc. Common Stock $5,834,432 1.45% 37,243 $86,456 Up ×4
DGX Quest Diagnostics Incorporated Common Stock $5,747,448 1.43% 27,117 $588,862 Up ×1
PANW Palo Alto Networks, Inc. - Common Stock $5,715,836 1.42% 16,761 $3,033,682 Up ×2
NOK Nokia Corporation Sponsored American Depositary Shares $5,609,963 1.39% 422,437 $2,019,227 Down ×1
HUBB Hubbell Inc Common Stock $5,419,306 1.34% 10,358 $436,823 Up ×3
ECL Ecolab Inc. Common Stock $5,341,790 1.33% 19,173 $440,638 Up ×4
MSFT Microsoft Corporation - Common Stock $5,286,756 1.31% 14,173 $554,213 Up ×1
SFM Sprouts Farmers Market, Inc. - Common Stock $5,268,742 1.31% 62,293 $-24,690 Down ×6
SYK Stryker Corporation Common Stock $5,220,992 1.30% 16,583 $-152,769 Up ×5
COST Costco Wholesale Corporation - Common Stock $5,203,099 1.29% 5,562 $49,548 Up ×2
ROST Ross Stores, Inc. - Common Stock $5,185,877 1.29% 24,364 $-1,018,406 Down ×1
STT State Street Corporation Common Stock $5,134,810 1.27% 30,276 $1,455,964 Up ×3
HD Home Depot, Inc. (The) Common Stock $5,074,360 1.26% 14,388 $748,141 Up ×5
JNJ Johnson & Johnson Common Stock $5,070,108 1.26% 19,963 $160,674 Down ×2
FSLR First Solar, Inc. - Common Stock $4,946,901 1.23% 20,965 $453,910 Down ×5
ADP Automatic Data Processing, Inc. - Common Stock $4,898,234 1.22% 21,872 $921,392 Up ×1
VMI Valmont Industries, Inc. Common Stock $4,829,314 1.20% 8,361 $927,113 Down ×1
BWA BorgWarner Inc. Common Stock $4,784,585 1.19% 72,057 $717,255 Down ×1
SCHW Charles Schwab Corporation (The) Common Stock $4,550,203 1.13% 49,314 $107,674 Up ×4
JKHY Jack Henry & Associates, Inc. - Common Stock $4,507,542 1.12% 32,725 $-745,550 Down ×1
VEEV Veeva Systems Inc. Class A Common Stock $4,257,150 1.06% 23,988 $408,966 Up ×3
MCO Moody's Corporation Common Stock $4,159,164 1.03% 9,183 $153,080
NOW ServiceNow, Inc. Common Stock $4,109,894 1.02% 41,397 $28,471 Up ×4
KAI Kadant Inc Common Stock $3,970,610 0.99% 12,636 $413,295 Up ×2
GOOG Alphabet Inc. - Class C Capital Stock $3,881,499 0.96% 10,985 $2,233,371 Up ×1
LLY Eli Lilly and Company Common Stock $3,812,988 0.95% 3,179 $901,916 Up ×1
WAB Westinghouse Air Brake Technologies Corporation Common Stock $3,806,482 0.94% 14,119 $389,962 Up ×4
MKC McCormick & Company, Incorporated Common Stock $3,771,499 0.94% 74,802 $-62,528 Down ×1
TAK Takeda Pharmaceutical Company Limited American Depositary Shares (each representing 1/2 of a share of Common Stock) $3,654,648 0.91% 227,988 $-759,872 Down ×6
CL Colgate-Palmolive Company Common Stock $3,352,554 0.83% 36,568 $2,305,503 Up ×1
CHKP Check Point Software Technologies Ltd. - Ordinary Shares $3,299,419 0.82% 25,104 $-254,689 Up ×3
NFLX Netflix, Inc. - Common Stock $3,201,362 0.79% 44,837 $-829,727 Up ×3
AMAL Amalgamated Financial Corp. - Common Stock $3,127,626 0.78% 68,140 $268,815 Down ×6
GOOGL Alphabet Inc. - Class A Common Stock $3,115,552 0.77% 8,718 $608,604
COLB Columbia Banking System, Inc. - Common Stock $3,046,224 0.76% 95,046 $509,909 Up ×6
DOC Healthpeak Properties, Inc. Common Stock $2,956,584 0.73% 138,158 $-236,030 Down ×6
CMG Chipotle Mexican Grill, Inc. Common Stock $2,900,982 0.72% 85,323 $419,023 Up ×2
HTO H2O America - Common Stock $2,804,839 0.70% 46,155 $81,495 Down ×1
SHOP Shopify Inc. - Class A Subordinate Voting Shares $2,663,705 0.66% 23,329 $2,621,476 Up ×1
AYI Acuity Inc. Common Stock $2,504,036 0.62% 6,648 $2,228,019 Up ×2
PG Procter & Gamble Company (The) Common Stock $2,363,143 0.59% 16,115 $-24,221 Down ×3
ITW Illinois Tool Works Inc. Common Stock $2,282,226 0.57% 8,438 $81,995 Down ×5
ULTA Ulta Beauty, Inc. - Common Stock $2,281,959 0.57% 5,060 Up ×1
VOD Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares $2,271,659 0.56% 171,770 $-1,148,140 Down ×6
EXPD Expeditors International of Washington, Inc. Common Stock $2,146,121 0.53% 13,168 $217,099 Down ×6
AMGN Amgen Inc. - Common Stock $2,037,287 0.51% 5,626 $342,777 Up ×1
AMRC Ameresco, Inc. Class A Common Stock $1,913,149 0.47% 69,317 $218,393 Up ×2
UPS United Parcel Service, Inc. Common Stock $1,852,010 0.46% 17,228 $523,388 Up ×2
SOFI SoFi Technologies, Inc. - Common Stock $1,837,305 0.46% 102,471 $274,189 Up ×2
MRK Merck & Company, Inc. Common Stock (new) $1,822,349 0.45% 14,182 $561,505 Up ×1
SPY SPY $1,787,021 0.44% 2,393 $224,254 Down ×2
LULU lululemon athletica inc. - Common Stock $1,604,686 0.40% 14,054 $-574,080 Down ×1
TU Telus Corporation Ordinary Shares $1,483,394 0.37% 140,340 $-390,145 Down ×6
PEP PepsiCo, Inc. - Common Stock $1,460,113 0.36% 10,784 $-214,487
TMO Thermo Fisher Scientific Inc Common Stock $1,239,413 0.31% 2,472 $-275 Down ×4
NVO Novo Nordisk A/S Common Stock $1,217,101 0.30% 25,388 $133,784 Down ×2
USB U.S. Bancorp Common Stock $1,196,947 0.30% 19,817 $166,265
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,174,916 0.29% 2,348 $49,754
DSI iShares Trust $1,139,120 0.28% 8,000
AXP American Express Company Common Stock $1,041,472 0.26% 3,079 $110,136
ABBV AbbVie Inc. Common Stock $979,131 0.24% 3,891 $135,270 Up ×1
GE GE Aerospace Common Stock $976,556 0.24% 2,613 $263,442 Up ×1
TXN Texas Instruments Incorporated - Common Stock $915,969 0.23% 3,073 $319,377
VITL Vital Farms, Inc. - Common Stock $843,256 0.21% 72,507 $-90,796 Up ×3
ORLY O'Reilly Automotive, Inc. - Common Stock $826,047 0.20% 8,970 $3,565 Up ×1
GEV GE Vernova Inc. Common Stock $804,779 0.20% 685 $206,842
JPM JP Morgan Chase & Co. Common Stock $768,244 0.19% 2,347 $118,739 Up ×1
KEYS Keysight Technologies Inc. Common Stock $686,837 0.17% 1,962 $99,225 Down ×1
INTU Intuit Inc. - Common Stock $680,949 0.17% 2,609 $-447,130
AFL AFLAC Incorporated Common Stock $666,684 0.17% 5,686 $45,616 Up ×1
BDX Becton, Dickinson and Company Common Stock $662,371 0.16% 4,377 $-65,132 Down ×4
TRMB Trimble Inc. - Common Stock $654,132 0.16% 12,781 $-179,573
NEE NextEra Energy, Inc. Common Stock $645,812 0.16% 7,358 $-37,599
APH Amphenol Corporation Common Stock $633,341 0.16% 3,592 $128,952 Down ×1
GLW Corning Incorporated Common Stock $629,124 0.16% 2,463 $253,439 Down ×1
WTS Watts Water Technologies, Inc. Class A Common Stock $624,754 0.16% 1,596 $161,451
GRNB VanEck ETF Trust $583,102 0.14% 24,160 $-232,814 Down ×6
A Agilent Technologies, Inc. Common Stock $582,725 0.14% 4,387 $82,695
MA Mastercard Incorporated Common Stock $563,933 0.14% 1,098 $7,811 Down ×2
AZN AstraZeneca PLC - American Depositary Shares $559,379 0.14% 2,950 $-22,420
HLIO Helios Technologies, Inc. Common Stock $518,275 0.13% 5,807 $110,149 Down ×2
Unknown issuer (CUSIP: 30233Q108) $515,571 0.13% 3,771 Up ×1
ABT Abbott Laboratories Common Stock $506,783 0.13% 5,585 $-95,069 Down ×2
SJM The J.M. Smucker Company Common Stock $492,863 0.12% 4,381 $70,359
MMM 3M Company Common Stock $484,920 0.12% 2,995 $49,956
CWT California Water Service Group Common Stock $478,473 0.12% 9,835 $18,952 Down ×4

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
ANET $9,191,357 2.28% up ×3
CAC $5,914,426 1.47% up ×4
CRM $5,834,432 1.45% up ×4
HUBB $5,419,306 1.34% up ×3
ECL $5,341,790 1.33% up ×4
SYK $5,220,992 1.30% up ×5
STT $5,134,810 1.27% up ×3
HD $5,074,360 1.26% up ×5
SCHW $4,550,203 1.13% up ×4
VEEV $4,257,150 1.06% up ×3
NOW $4,109,894 1.02% up ×4
WAB $3,806,482 0.94% up ×4
CHKP $3,299,419 0.82% up ×3
NFLX $3,201,362 0.79% up ×3
COLB $3,046,224 0.76% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ULTA $2,281,959 5,060 0.57%
DSI $1,139,120 8,000 0.28%
Unknown issuer (CUSIP: 30233Q108) $515,571 3,771 0.13%
EPD $236,734 6,440 0.06%
CTVA $235,438 2,780 0.06%
BIL $214,438 2,340 0.05%
MRVL $191,841 644 0.05%
DFSU $141,196 3,028 0.04%
Unknown issuer (CUSIP: 26614N201) $128,813 950 0.03%
SHEL $72,112 930 0.02%
NOBL $52,453 934 0.01%
BEPC $51,374 1,384 0.01%
EXG $51,316 5,231 0.01%
O $50,807 820 0.01%
Unknown issuer (CUSIP: 314352105) $49,377 327 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
CSCO Trimmed -5K +$4.1M
AAPL Bought more +30 +$3.6M
ASML Trimmed -1K +$3.6M
PANW Bought more +31 +$3.0M
NVDA Bought more +3K +$2.9M
ANET Bought more +359 +$2.6M
CL Bought more +24K +$2.3M
GOOG Bought more +5K +$2.2M
NOK Trimmed -24K +$2.0M
STT Bought more +1K +$1.5M

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
UL (filed as ULXXXX) Dec. 31, 2025 134,958 $8,000,310 -8.7%
HOLX June 30, 2026 12,007 $907,609 No longer tracked
XOM June 30, 2026 3,771 $639,788 20.0%
ANSS Sept. 30, 2025 663 $232,859 No longer tracked
PLTR Dec. 31, 2025 1,100 $200,662 6.2%
SNPS June 30, 2026 214 $84,847 9.8%
WEX June 30, 2025 500 $78,510 15.1%
VYMI March 31, 2026 865 $77,850
FNDF March 31, 2026 1,693 $76,541
NEOG June 30, 2025 8,066 $69,932 154.2%
VRSK Dec. 31, 2025 250 $62,878 -26.7%
BIL June 30, 2025 683 $62,652
ITOT June 30, 2025 497 $60,639 24.6%
SUSL March 31, 2026 455 $55,176
ESGV March 31, 2026 455 $55,037
ADSK March 31, 2026 179 $52,986 -11.4%
MUB June 30, 2026 465 $49,373
EMN March 31, 2026 755 $48,192 -15.0%
WBA June 30, 2025 4,000 $44,680 No longer tracked
HUBS June 30, 2025 72 $41,133 -61.5%
DVY June 30, 2026 260 $39,367
SMB June 30, 2026 2,216 $38,337 -2.5%
DBEF March 31, 2026 738 $35,505
KMPR Dec. 31, 2025 675 $34,796 -36.7%
HMN Sept. 30, 2025 760 $32,657 0.2%
IWP March 31, 2026 231 $31,633 8.9%
IFF March 31, 2026 410 $27,630 13.6%
FISV Dec. 31, 2025 214 $27,591 -34.0%
MLPA Dec. 31, 2025 539 $26,098 12.7%
DTE March 31, 2026 197 $25,409 -14.9%
IWS March 31, 2026 178 $25,107 12.0%
BILS March 31, 2026 250 $24,805
LCID (filed as LCIDXXXX) Sept. 30, 2025 11,607 $24,491 -82.6%
TTD June 30, 2025 404 $22,107 -83.4%
VIG June 30, 2025 111 $21,533
NI March 31, 2026 485 $20,254 -15.5%
SCHG March 31, 2026 608 $19,833 24.5%
TTE Dec. 31, 2025 304 $18,146 29.0%
IUSG Sept. 30, 2025 117 $17,597
IYR March 31, 2026 175 $16,431 2.2%
EMLP Dec. 31, 2025 429 $16,426
TTWO June 30, 2025 77 $15,958 -16.5%
MDB June 30, 2025 90 $15,786 70.5%
TREX June 30, 2025 200 $11,620 -19.9%
IJR March 31, 2026 87 $10,456 11.2%
OTIS June 30, 2026 134 $10,329 -10.5%
VV June 30, 2025 40 $10,281
HON June 30, 2026 43 $9,719 -4.4%
SGOV June 30, 2026 90 $9,059 0.0%
NOMD March 31, 2026 709 $8,870 10.8%
MASI June 30, 2026 49 $8,716 No longer tracked
SONY June 30, 2026 400 $8,280 18.7%
NVS Dec. 31, 2025 57 $7,310 2.3%
CRWD June 30, 2025 19 $6,699 -47.0%
CLX Dec. 31, 2025 50 $6,165 -20.3%
MDLZ June 30, 2026 100 $5,764 0.6%
SNN March 31, 2026 175 $5,742 -16.9%
EQIX Sept. 30, 2025 7 $5,568 31.0%
CHX June 30, 2025 184 $5,483 No longer tracked
IWR March 31, 2026 56 $5,391 11.4%
TRI June 30, 2026 54 $4,859 19.5%
CTSH June 30, 2026 79 $4,847 51.1%
K Dec. 31, 2025 59 $4,839 No longer tracked
ACM March 31, 2026 50 $4,767 -29.7%
GDDY March 31, 2026 37 $4,591 17.6%
HUM Sept. 30, 2025 18 $4,401 49.3%
CDNS March 31, 2026 14 $4,376 26.4%
NDAQ June 30, 2026 51 $4,329 14.6%
XYZ June 30, 2026 70 $4,213 -2.2%
WIT Sept. 30, 2025 1,330 $4,017 -34.6%
ON June 30, 2025 95 $3,866 62.0%
BBVA Sept. 30, 2025 213 $3,274 40.2%
DD June 30, 2026 71 $3,252 -4.2%
PTC March 31, 2026 18 $3,136 1.1%
ZM June 30, 2025 41 $3,025 19.1%
LNWO Dec. 31, 2025 36 $3,022 No longer tracked
IPGP June 30, 2025 47 $2,968 22.4%
AER March 31, 2026 20 $2,875 5.2%
OGN Dec. 31, 2025 255 $2,723 91.4%
PCG June 30, 2025 155 $2,663 -11.6%
PDD June 30, 2026 26 $2,657 -1.2%
SYF June 30, 2025 48 $2,541 7.5%
XPEV June 30, 2025 120 $2,486 -48.3%
LDOS June 30, 2026 14 $2,177 14.3%
CTVA June 30, 2025 33 $2,077 -84.0%
DDOG June 30, 2025 20 $1,984 106.4%
PSO March 31, 2026 137 $1,923 22.8%
GEN June 30, 2025 72 $1,911 -25.2%
BILI June 30, 2025 98 $1,873 -32.7%
PRLB June 30, 2025 53 $1,857 145.3%
NTES June 30, 2025 18 $1,853 -12.9%
JD June 30, 2025 42 $1,727 -21.0%
OSK June 30, 2025 18 $1,693 17.9%
COO June 30, 2025 20 $1,687 -20.0%
AIG June 30, 2025 19 $1,652 -12.5%
MFC June 30, 2025 52 $1,620 34.3%
ASR March 31, 2026 5 $1,617 -30.3%
HRB March 31, 2026 37 $1,612 31.3%
VGSR March 31, 2026 148 $1,539
NTAP Sept. 30, 2025 14 $1,492 91.0%
BOC June 30, 2025 100 $1,458 -5.9%
AGO June 30, 2026 17 $1,385 -14.6%
ACIW June 30, 2025 25 $1,368 9.2%
PRU Dec. 31, 2025 11 $1,141 -0.2%
AON March 31, 2026 3 $1,059 -16.5%
MELI Dec. 31, 2025 0 $1,033 -15.8%
MQ June 30, 2025 245 $1,009 183.9%
QFIN Dec. 31, 2025 33 $950 -66.5%
ELF June 30, 2025 15 $942 -15.9%
IX June 30, 2025 45 $940 64.8%
CFG June 30, 2025 22 $901 43.8%
GIB March 31, 2026 9 $831 -4.0%
SAP Dec. 31, 2025 3 $802 -14.1%
SNDK June 30, 2025 14 $667 3692.7%
RELX June 30, 2025 13 $655 -38.5%
RAL June 30, 2026 15 $624 -0.6%
VNT June 30, 2025 17 $558 -14.2%
SOLS March 31, 2026 10 $486 -24.2%
QS June 30, 2025 90 $374 -32.0%
VLTO June 30, 2025 3 $292 -6.2%
CHGG June 30, 2025 393 $251 -39.0%
BKNG Dec. 31, 2025 0 $229 -97.0%
OKTA June 30, 2025 2 $210 111.6%
AMT Dec. 31, 2025 1 $181 -7.6%
SEDG March 31, 2026 5 $144 -35.2%
RDFN June 30, 2025 12 $111 No longer tracked
OLED Dec. 31, 2025 1 $92 -31.2%
GDRX June 30, 2025 20 $88 -34.1%
HAS Dec. 31, 2025 1 $74 9.2%
PAYC Dec. 31, 2025 0 $69 38.7%
SWKS Dec. 31, 2025 1 $47 34.1%
BYND March 31, 2026 30 $25 1075.2%
ODFL Dec. 31, 2025 0 $25 15.1%
RYN March 31, 2026 1 $22 -12.4%
TSVT June 30, 2025 3 $15 No longer tracked
MTCH Dec. 31, 2025 0 $10 24.9%
VEU Dec. 31, 2025 0 $10
DSI Dec. 31, 2025 0 $6
BLUE June 30, 2025 1 $5 No longer tracked
PRF Dec. 31, 2025 0 $4 17.9%
IJH March 31, 2026 0 $1 8.1%