Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +48.0%
S&P 500 total return (same window) +37.0%
Excess return +11.0%

Annualized: +36.9% · 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: 97.7% · Options excluded: 30.1%

Sector breakdown

04
Financials 36.1%
Healthcare 28.9%
Industrials 2.9%
Consumer Staples 2.3%
Consumer Discretionary 2.3%
Materials 1.0%
Energy 0.6%
Other/Unmapped 26.1%

Full portfolio 50 positions

05
Type Streak 8Q trend
SPY SPY $50,780,360 21.44% 680 Put option $30,619,820 Down ×3
VTRS Viatris Inc. - Common Stock $12,430,070 5.25% 782,750 $423,057 Down ×4
PFE Pfizer, Inc. Common Stock $10,003,747 4.22% 415,438 $-847,432 Up ×1
WU Western Union Company (The) Common Stock $8,345,961 3.52% 1,083,891 $-3,291,854 Down ×1
TEVA Teva Pharmaceutical Industries Limited American Depositary Shares $7,864,158 3.32% 232,118 $571,564 Down ×3
WU Western Union Company (The) Common Stock $7,742,350 3.27% 10,055 Call option $6,934,825 Down ×4
XRAY DENTSPLY SIRONA Inc. - Common Stock $7,180,721 3.03% 676,788 $1,977,367 Up ×1
TFC Truist Financial Corporation Common Stock $6,957,363 2.94% 139,650 $537,652
FISV Fiserv, Inc. - Common Stock $6,857,190 2.89% 139,800 $3,006,990 Up ×1
C Citigroup, Inc. Common Stock $6,498,903 2.74% 46,434 $1,006,003 Down ×3
UBER Uber Technologies, Inc. Common Stock $6,425,704 2.71% 89,048 $775,746 Up ×1
FHI Federated Hermes, Inc. Common Stock $6,204,464 2.62% 112,359 $-394,255 Down ×4
COF Capital One Financial Corporation Common Stock $6,200,161 2.62% 30,905 $106,087 Down ×1
EQH Equitable Holdings, Inc. Common Stock $5,430,852 2.29% 123,766 $2,369,277 Up ×1
KHC The Kraft Heinz Company - Common Stock $5,338,120 2.25% 226,000 $289,115 Up ×1
RF Regions Financial Corporation Common Stock $5,285,000 2.23% 175,000 $714,000
BAX Baxter International Inc. Common Stock $5,268,748 2.22% 247,127 $1,847,814 Up ×2
WFC Wells Fargo & Company Common Stock $5,256,400 2.22% 63,606 $192,726
LVS Las Vegas Sands Corp. Common Stock $5,211,387 2.20% 112,825 $802,656 Up ×1
PRGO Perrigo Company plc Ordinary Shares $4,954,305 2.09% 476,834 $459,937 Up ×4
BMY Bristol-Myers Squibb Company Common Stock $4,537,805 1.92% 78,754 $307,225 Up ×1
BKD Brookdale Senior Living Inc. Common Stock $4,173,971 1.76% 259,414 $242,147 Down ×4
AMLP ALPS ETF Trust $3,874,388 1.64% 74,723 $-59,031
GILD Gilead Sciences, Inc. - Common Stock $3,583,887 1.51% 28,367 $-369,622
JPM JP Morgan Chase & Co. Common Stock $3,513,888 1.48% 10,735 $356,080
NTRS Northern Trust Corporation - Common Stock $3,511,742 1.48% 20,201 $482,933 Down ×4
XBI SPDR SERIES TRUST $2,721,900 1.15% 17,200 $-816,221 Down ×1
FNF Fidelity National Financial, Inc. Common Stock $2,513,864 1.06% 53,305 $610,382 Up ×1
IVZ Invesco Ltd Common Stock $2,419,699 1.02% 91,690 $46,809 Down ×1
B Barrick Mining Corporation Common Shares $2,257,059 0.95% 61,450 $-249,487
SSB SouthState Bank Corporation Common Stock $2,198,999 0.93% 22,012 $162,449
PRGO Perrigo Company plc Ordinary Shares $2,168,393 0.92% 2,087 Call option $-903,247 Down ×1
XLE SELECT SECTOR SPDR TRUST $2,018,180 0.85% 38,000 $-309,700
IEMG iShares, Inc. $2,013,012 0.85% 24,300 $-832,788 Down ×1
PFE Pfizer, Inc. Common Stock $1,926,400 0.81% 800 Call option $-1,583,600 Down ×4
GS Goldman Sachs Group, Inc. (The) Common Stock $1,914,523 0.81% 1,893 $-532,926 Down ×2
DVA DaVita Inc. Common Stock $1,779,840 0.75% 8,000 $89,250 Down ×1
ZBH Zimmer Biomet Holdings, Inc. Common Stock $1,506,575 0.64% 17,500 Up ×1
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $1,436,041 0.61% 18,520 $-286,319
GS Goldman Sachs Group, Inc. (The) Common Stock $1,011,370 0.43% 10 Put option Up ×1
XRAY DENTSPLY SIRONA Inc. - Common Stock $987,791 0.42% 931 Call option $-1,232,449 Down ×2
FISV Fiserv, Inc. - Common Stock $981,000 0.41% 200 Call option $-693,000 Down ×1
RPAY Repay Holdings Corporation - Class A Common Stock $710,766 0.30% 169,230 $-983,033 Down ×1
UCB United Community Banks, Inc. Common Stock $520,525 0.22% 14,834 $53,402
FBNC First Bancorp - Common Stock $511,440 0.22% 8,000 $60,640
RVSB Riverview Bancorp Inc - Common Stock $467,002 0.20% 86,004 $-6,020
HBAN Huntington Bancshares Incorporated - Common Stock $461,955 0.20% 26,055 $54,194
UBER Uber Technologies, Inc. Common Stock $360,800 0.15% 50 Call option $-358,500 Down ×1
XBI SPDR SERIES TRUST $316,500 0.13% 20 Put option Up ×1
LVS Las Vegas Sands Corp. Common Stock $230,950 0.10% 50 Call option 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
PRGO $4,954,305 2.09% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ZBH $1,506,575 17,500 0.64%
GS $1,011,370 10 0.43%
XBI $316,500 20 0.13%
LVS $230,950 50 0.10%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPY Trimmed -30K +$30.6M
WU Trimmed -249K -$3.3M
FISV Bought more +71K +$3.0M
EQH Bought more +41K +$2.4M
XRAY Bought more +228K +$2.0M
BAX Bought more +44K +$1.8M
PFE Trimmed -124K -$1.6M
XRAY Trimmed -190K -$1.2M
C Trimmed -2K +$1.0M
RPAY Trimmed -482K -$983K

1 position 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
GOLD June 30, 2025 269,117 $5,231,634 90.7%
CNNE Dec. 31, 2025 182,423 $3,340,165 -1.2%
CAH June 30, 2025 13,184 $1,816,360 35.9%
SSB (filed as SSBXXXX) Sept. 30, 2025 18,512 $1,703,659 3.1%
ALIT June 30, 2026 1,737,727 $1,012,574 -21.0%
LDI Sept. 30, 2025 516,693 $656,200 -79.3%
VBTX Dec. 31, 2025 13,362 $448,028 No longer tracked
PROV Dec. 31, 2025 18,518 $291,659 15.1%
SBCF March 31, 2026 9,000 $282,780 7.9%