Performance vs S&P 500

03
Tracked Q1 2025–Q3 2025 +2.0%
S&P 500 total return (same window) +21.3%
Excess return -19.3%

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: 98.1% · Options excluded: 0.0%

Sector breakdown

04
Health Care 30.1%
Retail 18.9%
Financials 16.4%
Consumer Staples 13.4%
Industrials 4.4%
Communication Services 4.2%
Consumer Discretionary 3.6%
Technology 3.5%
Energy 2.7%
Materials 2.2%
Consumer products 0.6%

Full portfolio 32 positions

05
Type Streak 8Q trend
ROST Ross Stores, Inc. - Common Stock $43,880,082 5.63% 287,946 $-20,838,942 Down ×3
COR Cencora, Inc. Common Stock $37,943,589 4.87% 121,408 $-26,100,894 Down ×3
USB U.S. Bancorp Common Stock $35,869,244 4.60% 742,173 $-10,135,945 Down ×3
SYY Sysco Corporation Common Stock $35,719,845 4.58% 433,809 $-22,136,149 Down ×3
LOW Lowe's Companies, Inc. Common Stock $34,178,744 4.39% 136,002 $-18,414,910 Down ×3
TMO Thermo Fisher Scientific Inc Common Stock $33,733,415 4.33% 69,551 $-15,984,483 Down ×3
AZO AutoZone, Inc. Common Stock $33,292,636 4.27% 7,760 $-17,514,057 Down ×3
DIS Walt Disney Company (The) Common Stock $32,463,114 4.17% 283,521 $-29,140,069 Down ×3
JNJ Johnson & Johnson Common Stock $32,349,981 4.15% 174,469 $-14,693,087 Down ×3
UNH UnitedHealth Group Incorporated Common Stock (DE) $30,139,644 3.87% 87,285 $-17,580,057 Down ×3
WRB W.R. Berkley Corporation Common Stock $29,717,175 3.81% 387,851 $-20,327,071 Down ×3
MDT Medtronic plc. Ordinary Shares $28,221,464 3.62% 296,319 $-17,009,601 Down ×3
SCI Service Corporation International Common Stock $28,161,844 3.61% 338,402 $-19,970,654 Down ×3
MCHP Microchip Technology Incorporated - Common Stock $27,301,559 3.50% 425,125 $-24,914,583 Down ×3
ICLR ICON plc - Ordinary Shares $26,688,086 3.43% 152,503 $-6,960,723 Down ×1
STE STERIS plc (Ireland) Ordinary Shares $26,442,589 3.39% 106,865 $-3,100,803 Down ×1
KDP Keurig Dr Pepper Inc. - Common Stock $25,763,280 3.31% 1,009,929 $-33,994,642 Down ×1
MDLZ Mondelez International, Inc. - Class A Common Stock $25,750,603 3.31% 412,208 $-23,091,625 Down ×3
PM Philip Morris International Inc Common Stock $23,768,822 3.05% 146,540 $-23,874,666 Down ×3
MRSH Marsh Common Stock $23,161,538 2.97% 114,928 $-20,524,516 Down ×3
GWW W.W. Grainger, Inc. Common Stock $22,895,642 2.94% 24,026 $-20,736,791 Down ×3
STT State Street Corporation Common Stock $22,848,406 2.93% 196,952 $-13,677,162 Down ×3
CVX Chevron Corporation Common Stock $21,386,236 2.74% 137,718 $-13,443,168 Down ×3
KO Coca-Cola Company (The) Common Stock $18,200,821 2.34% 274,439 $-15,803,365 Down ×3
APD Air Products and Chemicals, Inc. Common Stock $17,119,907 2.20% 62,775 $-14,177,410 Down ×3
DGX Quest Diagnostics Incorporated Common Stock $16,981,317 2.18% 89,103 $-10,768,447 Down ×2
GPN Global Payments Inc. Common Stock $15,894,117 2.04% 191,311 $-11,020,847 Down ×3
UPS United Parcel Service, Inc. Common Stock $11,726,201 1.51% 140,383 $-13,001,386 Down ×3
STZ Constellation Brands, Inc. Common Stock $10,930,920 1.40% 81,168 $-12,791,297 Down ×3
CL Colgate-Palmolive Company Common Stock $2,529,382 0.32% 31,641 $-1,912,628 Down ×3
BMY Bristol-Myers Squibb Company Common Stock $2,175,038 0.28% 48,227 $-1,833,121 Down ×1
KVUE Kenvue Inc. Common Stock $1,901,069 0.24% 117,133 $-1,971,148 Down ×3

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
KDP Trimmed -798K -$34.0M
DIS Trimmed -213K -$29.1M
COR Trimmed -92K -$26.1M
MCHP Trimmed -317K -$24.9M
PM Trimmed -115K -$23.9M
MDLZ Trimmed -312K -$23.1M
SYY Trimmed -330K -$22.1M
ROST Trimmed -219K -$20.8M
GWW Trimmed -18K -$20.7M
MRSH Trimmed -85K -$20.5M

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
IWD June 30, 2025 306,766 $57,721,130
AMGN June 30, 2025 183,148 $57,059,668 44.4%
ABT Sept. 30, 2025 339,302 $46,148,398 -27.2%
CVS June 30, 2025 34,746 $2,354,039 25.3%
NKE June 30, 2025 27,385 $1,738,400 -52.3%
SJM Sept. 30, 2025 2,714 $266,515 7.9%