Performance vs S&P 500

03
Tracked Q2 2025–Q2 2026 +6.4%
S&P 500 total return (same window) +21.7%
Excess return -15.3%

Annualized: +6.4% · S&P 500: +21.7%

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: 90.1% · Options excluded: 0.0%

Sector breakdown

04
Retail 20.5%
Financials 19.7%
Industrials 12.8%
Healthcare 10.5%
Materials 9.7%
Consumer Discretionary 8.5%
Communication Services 5.4%
Other/Unmapped 12.8%

Full portfolio 15 positions

05
Type Streak 8Q trend
ORLY O'Reilly Automotive, Inc. - Common Stock $17,620,685 14.01% 191,342 $-654,756 Down ×4
PVLA Palvella Therapeutics, Inc. - Common Stock $13,194,937 10.49% 86,343 $1,882,077 Down ×2
FERG Ferguson Enterprises Inc. Common Stock $11,413,200 9.07% 48,090 $-200,582 Down ×6
V Visa Inc. $11,407,743 9.07% 33,250 $2,474,133 Up ×2
HLT Hilton Worldwide Holdings Inc. Common Stock $10,694,347 8.50% 32,362 $504,322 Down ×5
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $10,614,773 8.44% 21,213 $91,062 Down ×6
AZO AutoZone, Inc. Common Stock $8,200,782 6.52% 2,566 $-777,357 Down ×6
GOOGL Alphabet Inc. - Class A Common Stock $6,790,745 5.40% 19,002 $3,031,186 Up ×1
Unknown issuer (CUSIP: 78409V112) $6,657,479 5.29% 16,347 Up ×1
LIN Linde plc - Ordinary Shares $6,446,273 5.12% 12,422 $66,833 Down ×1
MDLN Medline Inc. - Class A common stock $6,198,824 4.93% 157,171 $2,142,248 Up ×1
SHW Sherwin-Williams Company (The) Common Stock $5,719,155 4.55% 16,610 $205,054 Down ×6
CPRT Copart, Inc. - Common Stock $4,718,019 3.75% 167,365 $1,211,468 Up ×1
BIL SPDR SERIES TRUST $3,300,140 2.62% 36,012 $695,181 Up ×1
AJG Arthur J. Gallagher & Co. Common Stock $2,810,166 2.23% 12,241 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 78409V112) $6,657,479 16,347 5.29%
AJG $2,810,166 12,241 2.23%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
GOOGL Bought more +6K +$3.0M
V Bought more +4K +$2.5M
MDLN Bought more +66K +$2.1M
PVLA Trimmed -4K +$1.9M
CPRT Bought more +62K +$1.2M
AZO Trimmed -92 -$777K
BIL Bought more +8K +$695K
ORLY Trimmed -7K -$655K
HLT Trimmed -1K +$504K
SHW Trimmed -592 +$205K

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
CDW March 31, 2026 64,911 $8,840,878 10.7%
NOW June 30, 2026 52,731 $5,513,026 37.1%
VRSK June 30, 2026 21,676 $4,113,021 -9.1%
SPGI June 30, 2026 9,517 $4,047,961 1.5%
BLDR Sept. 30, 2025 30,652 $3,576,782 -54.1%
AMZN March 31, 2026 6,000 $1,384,920 20.7%
STZ March 31, 2026 1,000 $137,960 -24.5%