Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +76.9%
S&P 500 total return (same window) +37.0%
Excess return +39.9%

Annualized: +57.8% · 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: 96.0% · Options excluded: 99.3%

Sector breakdown

04
Technology 26.9%
Consumer Discretionary 6.0%
Communication Services 5.6%
Retail 2.3%
Financials 1.1%
Healthcare 0.6%
Industrials 0.2%
Other/Unmapped 57.3%

Full portfolio 128 positions

05
Type Streak 8Q trend
SPY SPY $45,791,189,630 14.48% 613,190 Put option $8,692,219,160 Up ×1
SPY SPY $43,422,509,867 13.73% 581,471 Call option $14,635,925,141 Up ×2
QQQ Invesco QQQ Trust, Series 1 $26,797,522,360 8.47% 363,899 Call option $10,947,178,354 Up ×3
QQQ Invesco QQQ Trust, Series 1 $25,829,156,360 8.17% 350,749 Put option $10,253,550,034 Up ×1
MU Micron Technology, Inc. - Common Stock $17,837,358,799 5.64% 154,531 Call option $15,757,953,599 Up ×3
MU Micron Technology, Inc. - Common Stock $13,907,809,352 4.40% 120,488 Put option $11,997,155,232 Up ×3
GLD SPDR Gold Shares $11,992,537,224 3.79% 325,548 Call option $-6,960,747,609 Down ×1
HYG iShares Trust $9,996,662,500 3.16% 406,708 Put option $1,071,061,596 Down ×1
TSLA Tesla, Inc. - Common Stock $7,602,471,180 2.40% 180,753 Call option $786,992,555 Down ×1
GLD SPDR Gold Shares $7,141,562,032 2.26% 193,864 Put option $-4,283,325,932 Down ×1
NVDA NVIDIA Corporation - Common Stock $6,087,738,250 1.93% 304,250 Call option $1,187,604,010 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $5,891,145,270 1.86% 165,646 Call option $2,121,803,246 Up ×3
HYG iShares Trust $5,698,777,420 1.80% 211,132 Call option $814,306,540 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $5,381,434,058 1.70% 92,638 Call option $4,027,261,577 Up ×1
TSLA Tesla, Inc. - Common Stock $4,973,763,240 1.57% 118,254 Put option $389,379,415 Down ×1
GOOG Alphabet Inc. - Class C Capital Stock $4,758,036,093 1.50% 133,877 Put option $1,446,997,425 Up ×1
NVDA NVIDIA Corporation - Common Stock $4,433,434,148 1.40% 221,572 Put option $712,453,188 Up ×1
MSFT Microsoft Corporation - Common Stock $4,397,159,760 1.39% 117,880 Call option $2,160,555,603 Up ×3
AMD Advanced Micro Devices, Inc. - Common Stock $4,223,622,337 1.34% 72,707 Put option $2,979,342,742 Up ×2
META Meta Platforms, Inc. - Class A Common Stock $3,580,947,188 1.13% 63,572 Call option $783,231,488 Up ×3
SMH SMH $3,287,189,502 1.04% 50,118 Put option $2,877,028,182 Up ×1
AAPL Apple Inc. - Common Stock $3,279,114,328 1.04% 113,323 Call option $1,266,788,039 Up ×1
MSFT Microsoft Corporation - Common Stock $3,242,961,276 1.03% 86,938 Put option $1,287,686,319 Up ×3
AMZN Amazon.com, Inc. - Common Stock $3,169,755,162 1.00% 132,993 Call option $1,197,396,608 Up ×3
AAPL Apple Inc. - Common Stock $2,821,288,936 0.89% 97,501 Put option $934,893,245 Up ×3
META Meta Platforms, Inc. - Class A Common Stock $2,467,548,174 0.78% 43,806 Put option $383,965,140 Up ×3
SMH SMH $2,303,682,447 0.73% 35,123 Call option $1,919,707,347 Up ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $2,274,665,910 0.72% 47,630 Put option $923,203,860 Up ×3
AMZN Amazon.com, Inc. - Common Stock $2,243,160,744 0.71% 94,116 Put option $681,656,419 Up ×2
SLV iShares Silver Trust $2,210,957,765 0.70% 413,495 Put option $-1,952,975,425 Down ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $1,919,162,802 0.61% 40,186 Call option $767,226,432 Up ×3
AVGO Broadcom Inc. - Common Stock $1,838,169,275 0.58% 48,661 Call option $644,915,372 Up ×3
SLV iShares Silver Trust $1,760,104,072 0.56% 329,176 Call option $-1,490,712,234 Down ×1
AVGO Broadcom Inc. - Common Stock $1,689,373,550 0.53% 44,722 Put option $514,133,129 Up ×3
MSTR Strategy Inc - Class A Common Stock $1,002,407,216 0.32% 115,312 Call option $-235,321,744 Up ×1
ORCL Oracle Corporation Common Stock $864,439,830 0.27% 58,986 Put option $273,101,763 Up ×3
ORCL Oracle Corporation Common Stock $863,106,225 0.27% 58,895 Call option $252,908,656 Up ×3
PLTR Palantir Technologies Inc. - Class A Common Stock $851,282,655 0.27% 72,965 Put option $-208,384,293 Up ×2
MSTR Strategy Inc - Class A Common Stock $814,638,416 0.26% 93,712 Put option $-213,351,664 Up ×1
AMAT Applied Materials, Inc. - Common Stock $808,964,700 0.26% 11,189 Call option $614,417,832 Up ×1
PLTR Palantir Technologies Inc. - Class A Common Stock $794,662,704 0.25% 68,112 Call option $-145,522,740 Up ×2
AMAT Applied Materials, Inc. - Common Stock $793,781,700 0.25% 10,979 Put option $673,984,305 Up ×1
INTC Intel Corporation - Common Stock $784,078,302 0.25% 56,154 Put option Up ×1
INTC Intel Corporation - Common Stock $689,451,051 0.22% 49,377 Call option Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $656,480,267 0.21% 6,491 Call option $637,699,289 Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $586,898,011 0.19% 5,803 Put option $570,908,800 Up ×1
NFLX Netflix, Inc. - Common Stock $575,633,940 0.18% 80,621 Call option $-187,700,910 Up ×3
LRCX Lam Research Corporation - Common Stock $557,479,045 0.18% 12,865 Put option $489,748,825 Up ×1
LLY Eli Lilly and Company Common Stock $532,067,148 0.17% 4,436 Call option
ASML ASML Holding N.V. - New York Registry Shares $507,506,144 0.16% 2,551 Put option $311,494,972 Up ×1
LRCX Lam Research Corporation - Common Stock $505,782,776 0.16% 11,672 Call option $392,799,368 Up ×1
BKNG Booking Holdings Inc. - Common Stock $497,681,728 0.16% 27,922 Call option $-5,872,544 Up ×3
LLY Eli Lilly and Company Common Stock $495,244,647 0.16% 4,129 Put option
NFLX Netflix, Inc. - Common Stock $488,518,800 0.15% 68,420 Put option $-174,281,610 Down ×2
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $432,984,976 0.14% 45,112 Call option $-29,096,750 Up ×2
UNH UnitedHealth Group Incorporated Common Stock (DE) $424,566,045 0.13% 10,215 Put option Up ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $395,596,634 0.13% 9,518 Call option Up ×1
BKNG Booking Holdings Inc. - Common Stock $377,387,552 0.12% 21,173 Put option $142,880 Up ×2
COIN Coinbase Global, Inc. - 3Class A Common Stock $373,749,354 0.12% 25,566 Call option $-226,542,365 Down ×1
ASML ASML Holding N.V. - New York Registry Shares $362,078,080 0.11% 1,820 Call option $240,033,388 Up ×1
QCOM QUALCOMM Incorporated - Common Stock $355,554,439 0.11% 19,241 Call option $284,442,123 Up ×2
QCOM QUALCOMM Incorporated - Common Stock $355,314,212 0.11% 19,228 Put option $321,496,584 Up ×2
COIN Coinbase Global, Inc. - 3Class A Common Stock $352,347,138 0.11% 24,102 Put option $-226,694,544 Down ×1
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $329,979,240 0.10% 34,380 Put option $-51,118,056 Up ×3
COST Costco Wholesale Corporation - Common Stock $317,404,971 0.10% 3,393 Call option
CAT Caterpillar, Inc. Common Stock $317,127,220 0.10% 2,978 Put option Up ×1
COST Costco Wholesale Corporation - Common Stock $242,286,730 0.08% 2,590 Put option
CAT Caterpillar, Inc. Common Stock $229,485,950 0.07% 2,155 Call option Up ×1
SPY SPY $200,849,019 0.06% 268,957
MELI MercadoLibre, Inc. - Common Stock $196,048,545 0.06% 1,155 Call option $92,307,345 Up ×3
JPM JP Morgan Chase & Co. Common Stock $195,350,544 0.06% 5,968 Put option $189,820,336 Up ×1
MELI MercadoLibre, Inc. - Common Stock $183,657,598 0.06% 1,082 Put option $48,102,430 Up ×3
AMZN Amazon.com, Inc. - Common Stock $161,910,559 0.05% 679,326 $148,800,796 Up ×1
MU Micron Technology, Inc. - Common Stock $159,084,248 0.05% 137,820 $59,639,693 Down ×2
SLV iShares Silver Trust $156,708,646 0.05% 2,930,777 $-87,410,876 Down ×1
JPM JP Morgan Chase & Co. Common Stock $149,000,616 0.05% 4,552 Call option $139,675,744 Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $119,809,924 0.04% 118,463
V Visa Inc. $115,106,695 0.04% 3,355 Call option Up ×1
C Citigroup, Inc. Common Stock $109,252,776 0.03% 7,806 Put option $101,722,352 Up ×1
MA Mastercard Incorporated Common Stock $104,209,440 0.03% 2,029 Put option Up ×1
INTC Intel Corporation - Common Stock $104,056,744 0.03% 745,232 Up ×1
ASML ASML Holding N.V. - New York Registry Shares $95,942,733 0.03% 48,226 $56,916,169 Up ×1
C Citigroup, Inc. Common Stock $94,976,856 0.03% 6,786 Call option $83,737,925 Up ×1
BAC Bank of America Corporation Common Stock $89,994,212 0.03% 15,794 Put option $84,578,087 Up ×1
PLTR Palantir Technologies Inc. - Class A Common Stock $87,249,559 0.03% 747,832 $68,600,614 Up ×1
XLE SELECT SECTOR SPDR TRUST $85,813,527 0.03% 16,007 Put option $84,283,057 Up ×1
V Visa Inc. $85,498,028 0.03% 2,492 Put option Up ×1
MA Mastercard Incorporated Common Stock $76,577,760 0.02% 1,491 Call option Up ×1
WFC Wells Fargo & Company Common Stock $71,376,168 0.02% 8,637 Put option
MELI MercadoLibre, Inc. - Common Stock $66,284,777 0.02% 39,051 $39,474,593 Up ×4
QCOM QUALCOMM Incorporated - Common Stock $63,798,748 0.02% 345,250
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $59,243,463 0.02% 617,248 $48,388,413 Up ×2
AAPL Apple Inc. - Common Stock $53,801,862 0.02% 185,934 $42,728,751 Up ×1
BAC Bank of America Corporation Common Stock $53,190,830 0.02% 9,335 Call option $48,808,205 Up ×1
COIN Coinbase Global, Inc. - 3Class A Common Stock $52,952,649 0.02% 362,218 $-16,757,251 Down ×1
CAT Caterpillar, Inc. Common Stock $50,729,706 0.02% 47,638 Up ×1
WFC Wells Fargo & Company Common Stock $46,889,936 0.01% 5,674 Call option
MA Mastercard Incorporated Common Stock $40,312,978 0.01% 78,491 Up ×1
ORCL Oracle Corporation Common Stock $39,642,361 0.01% 270,504 $-19,468,497 Down ×1
XLE SELECT SECTOR SPDR TRUST $39,312,213 0.01% 7,333 Call option

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
QQQ $26,797,522,360 8.47% up ×3
MU $17,837,358,799 5.64% up ×3
MU $13,907,809,352 4.40% up ×3
GOOG $5,891,145,270 1.86% up ×3
MSFT $4,397,159,760 1.39% up ×3
META $3,580,947,188 1.13% up ×3
MSFT $3,242,961,276 1.03% up ×3
AMZN $3,169,755,162 1.00% up ×3
AAPL $2,821,288,936 0.89% up ×3
META $2,467,548,174 0.78% up ×3
TSM $2,274,665,910 0.72% up ×3
TSM $1,919,162,802 0.61% up ×3
AVGO $1,838,169,275 0.58% up ×3
AVGO $1,689,373,550 0.53% up ×3
ORCL $864,439,830 0.27% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
INTC $784,078,302 56,154 0.25%
INTC $689,451,051 49,377 0.22%
LLY $532,067,148 4,436 0.17%
LLY $495,244,647 4,129 0.16%
UNH $424,566,045 10,215 0.13%
UNH $395,596,634 9,518 0.13%
COST $317,404,971 3,393 0.10%
CAT $317,127,220 2,978 0.10%
COST $242,286,730 2,590 0.08%
CAT $229,485,950 2,155 0.07%
SPY $200,849,019 268,957 0.06%
GS $119,809,924 118,463 0.04%
V $115,106,695 3,355 0.04%
MA $104,209,440 2,029 0.03%
INTC $104,056,744 745,232 0.03%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPY Bought more +139K +$14.6B
QQQ Bought more +89K +$10.9B
QQQ Bought more +81K +$10.3B
SPY Bought more +43K +$8.7B
GLD Trimmed -115K -$7.0B
GLD Trimmed -72K -$4.3B
AMD Bought more +26K +$4.0B
AMD Bought more +12K +$3.0B
MSFT Bought more +57K +$2.2B
GOOG Bought more +34K +$2.1B

3 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
IWM Dec. 31, 2025 339,320 $82,101,867 14.5%
GOOGL Dec. 31, 2025 315,636 $76,731,112 9.7%
XLF Dec. 31, 2025 34,869 $55,273,691 -2.3%
CMG March 31, 2026 6,828 $25,263,600 1.1%
CRWD March 31, 2026 9,789 $21,434,519 -30.8%
COST March 31, 2026 5,487 $20,098,558 -7.6%
GME Dec. 31, 2025 101,271 $14,073,288 23.0%
CVNA June 30, 2026 4,239 $12,941,767 -3.1%
FSLR March 31, 2026 313 $8,176,499 -11.5%
CVX March 31, 2026 11,112 $7,970,433 -0.1%
WFC March 31, 2026 26,534 $7,741,471 1.1%
XOM March 31, 2026 2,784 $6,899,453 -3.3%
WMT March 31, 2026 13,921 $5,786,301 -16.1%
ABNB March 31, 2026 380 $5,157,360 28.6%
HD March 31, 2026 1,444 $3,937,536 -14.0%
KRE March 31, 2026 575 $3,726,575
UBER March 31, 2026 4,058 $3,704,813 -5.3%
BIDU March 31, 2026 208 $2,717,728 -24.3%
TGT March 31, 2026 7,304 $1,691,368 28.7%
JD March 31, 2026 19,743 $1,566,761 -12.8%
UPST March 31, 2026 9,552 $1,530,331 -11.1%
SNAP June 30, 2025 134,464 $1,171,181 -35.8%
PDD March 31, 2026 96 $1,088,544 -26.2%
XOP March 31, 2026 86 $1,085,836
OXY March 31, 2026 154 $633,248 -10.6%
LLY March 31, 2026 2 $214,936 24.3%