Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +27.5%
S&P 500 total return (same window) +37.0%
Excess return -9.5%

Annualized: +21.5% · 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: 97.9% · Options excluded: 0.0%

Sector breakdown

04
Technology 19.8%
Financials 14.3%
Industrials 13.6%
Retail 13.4%
Healthcare 10.8%
Communication Services 10.4%
Materials 4.4%
Energy 4.4%
Consumer Discretionary 2.3%
Consumer products 1.3%
Consumer Staples 1.0%
Real Estate 0.2%
Utilities 0.2%
Other/Unmapped 3.8%

Full portfolio 153 positions

05
Type Streak 8Q trend
RY Royal Bank Of Canada Common Stock $79,890,188 5.17% 386,426 $21,655,003 Up ×1
NVDA NVIDIA Corporation - Common Stock $70,770,433 4.58% 353,693 $8,777,337 Down ×2
MSFT Microsoft Corporation - Common Stock $66,019,690 4.27% 176,987 $10,584,140 Up ×1
AMZN Amazon.com, Inc. - Common Stock $62,079,228 4.02% 260,465 $7,489,370 Down ×2
GOOG Alphabet Inc. - Class C Capital Stock $59,232,241 3.83% 167,640 $10,879,406 Down ×6
WMT Walmart Inc. - Common Stock $50,556,885 3.27% 446,379 $-1,528,862 Up ×1
LIN Linde plc - Ordinary Shares $47,746,632 3.09% 92,008 $10,746,576 Up ×2
LLY Eli Lilly and Company Common Stock $47,265,939 3.06% 39,407 $13,938,074 Up ×3
AAPL Apple Inc. - Common Stock $46,724,985 3.02% 161,477 $5,461,015 Down ×3
BNS Bank Nova Scotia Halifax Pfd 3 Ordinary Shares $45,312,173 2.93% 522,360 $8,881,555 Down ×2
COST Costco Wholesale Corporation - Common Stock $43,437,614 2.81% 46,434 $-1,931,837 Up ×2
ETN Eaton Corporation, PLC Ordinary Shares $35,592,952 2.30% 83,528 $-1,917,689 Down ×3
UNP Union Pacific Corporation Common Stock $35,099,152 2.27% 129,041 $17,205,199 Up ×1
AME AMETEK, Inc. $34,558,468 2.24% 142,839 $3,790,091 Down ×1
MCK McKesson Corporation Common Stock $33,208,620 2.15% 43,950 $29,422,670 Up ×1
CNQ Canadian Natural Resources Limited Common Stock $32,889,888 2.13% 832,392 $2,531,147 Up ×4
AVGO Broadcom Inc. - Common Stock $31,596,521 2.05% 83,644 $-614,185 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $29,745,093 1.93% 52,806 $542,433 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $28,918,785 1.87% 80,921 $8,402,204 Up ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $26,905,392 1.74% 64,734 $9,252,912 Down ×2
GIL Gildan Activewear, Inc. Class A Sub. Vot. Common Stock $23,760,819 1.54% 461,735 $5,687,084 Up ×3
V Visa Inc. $23,473,533 1.52% 68,418 $-2,135,867 Down ×2
AZN AstraZeneca PLC - American Depositary Shares $23,102,163 1.50% 121,834 $-5,641,864 Down ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $22,705,111 1.47% 47,543 $10,058,008 Up ×1
NFLX Netflix, Inc. - Common Stock $21,620,062 1.40% 302,802 $-7,039,754 Up ×4
DELL Dell Technologies Inc. Class C Common Stock $21,370,214 1.38% 49,530 $12,157,597 Down ×2
TJX TJX Companies, Inc. (The) Common Stock $19,829,381 1.28% 130,887 $1,520,095 Up ×4
APH Amphenol Corporation Common Stock $19,533,435 1.26% 110,784 $-11,306,200 Down ×1
URNM Sprott Uranium Miners ETF $19,252,568 1.25% 366,088 $5,224,869 Up ×1
ADI Analog Devices, Inc. - Common Stock $16,771,298 1.09% 42,227 $16,332,583 Up ×3
CCJ Cameco Corporation Common Stock $16,725,843 1.08% 164,268 $3,232,868 Up ×1
ORLY O'Reilly Automotive, Inc. - Common Stock $16,012,977 1.04% 173,884 $-229,152 Down ×4
CSCO Cisco Systems, Inc. - Common Stock $15,208,134 0.98% 129,475 $9,823,776 Up ×1
PHM PulteGroup, Inc. Common Stock $14,808,115 0.96% 107,923 $-10,309,970 Down ×1
FERG Ferguson Enterprises Inc. Common Stock $12,661,318 0.82% 53,349 $8,831,422 Up ×2
HWM Howmet Aerospace Inc. Common Stock $12,485,858 0.81% 46,440 $7,414,586 Up ×1
JPM JP Morgan Chase & Co. Common Stock $12,423,483 0.80% 37,954 $1,257,758 Down ×1
TD Toronto Dominion Bank (The) Common Stock $11,863,547 0.77% 97,731 $3,016,818 Up ×1
ABBV AbbVie Inc. Common Stock $11,738,251 0.76% 46,647 $6,190,734 Up ×1
GE GE Aerospace Common Stock $11,117,721 0.72% 29,748 $6,222,688 Up ×1
NDAQ Nasdaq, Inc. - Common Stock $9,673,184 0.63% 122,725 $1,428,243 Up ×1
WSM Williams-Sonoma, Inc. Common Stock (DE) $8,247,078 0.53% 35,380 $5,151,115 Up ×1
Unknown issuer (CUSIP: 55293N109) $8,082,397 0.52% 195,695 $3,391,542 Up ×1
JNJ Johnson & Johnson Common Stock $7,997,515 0.52% 31,490 $160,769 Down ×3
PM Philip Morris International Inc Common Stock $7,590,983 0.49% 41,960 $2,369,546 Up ×1
ET Energy Transfer LP Common Units $7,265,696 0.47% 380,005 $-68,401
AMAT Applied Materials, Inc. - Common Stock $6,970,443 0.45% 9,641 $3,654,055 Down ×6
BMO Bank Of Montreal Common Stock $6,790,088 0.44% 38,479 $2,073,500 Up ×1
MU Micron Technology, Inc. - Common Stock $6,724,894 0.44% 5,826 $4,393,798 Down ×1
PH Parker-Hannifin Corporation Common Stock $6,655,128 0.43% 6,804 $145,839 Down ×3
AGI Alamos Gold Inc. Class A Common Shares $6,249,586 0.40% 206,200 $-2,810,732 Up ×1
GLD SPDR Gold Shares $6,006,068 0.39% 16,304 $-1,052,839 Down ×3
BLK BlackRock, Inc. Common Stock $5,783,783 0.37% 6,015 $2,518,778 Up ×1
EXPE Expedia Group, Inc. - Common Stock $5,770,094 0.37% 22,550 $2,035,448 Up ×1
HBM Hudbay Minerals Inc. Ordinary Shares (Canada) $5,495,311 0.36% 232,800 $635,962
PBA Pembina Pipeline Corp. Ordinary Shares (Canada) $5,440,927 0.35% 117,655 $472,921 Up ×1
LRCX Lam Research Corporation - Common Stock $5,416,625 0.35% 12,500 $2,745,875
CP Canadian Pacific Kansas City Limited Common Shares $5,354,302 0.35% 61,876 $911,131 Up ×1
NTR Nutrien Ltd. Common Shares $5,341,162 0.35% 84,810 $1,353,107 Up ×1
CNI Canadian National Railway Company Common Stock $4,586,840 0.30% 38,450 $1,206,210 Up ×2
CCEP Coca-Cola Europacific Partners plc - Ordinary Shares $4,512,157 0.29% 45,090 $242,506 Down ×3
PFE Pfizer, Inc. Common Stock $4,504,284 0.29% 187,055 $-883,004 Down ×1
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund $4,332,783 0.28% 22,596 $637,347 Up ×1
VRTX Vertex Pharmaceuticals Incorporated - Common Stock $4,156,636 0.27% 8,368 $-30,123 Down ×6
FIX Comfort Systems USA, Inc. Common Stock $3,963,900 0.26% 2,000 $1,205,920
DIS Walt Disney Company (The) Common Stock $3,793,502 0.25% 39,413 $2,012,592 Up ×1
SII Sprott Inc. Common Shares $3,649,353 0.24% 32,400 $-1,500,175 Down ×1
DE Deere & Company Common Stock $3,553,517 0.23% 5,602 $426,639 Up ×1
FSV FirstService Corporation - Common Shares $3,454,154 0.22% 24,300 $59,529 Down ×4
CTA Simplify Exchange Traded Funds $3,247,636 0.21% 125,198 $-544,037 Down ×1
RSG Republic Services, Inc. Common Stock $3,153,584 0.20% 14,800 $163,961 Up ×4
RPRX Royalty Pharma plc - Class A Ordinary Shares $3,134,313 0.20% 55,900 $735,813 Up ×2
KVUE Kenvue Inc. Common Stock $3,043,841 0.20% 159,280 $261,822 Down ×1
BAC Bank of America Corporation Common Stock $3,001,422 0.19% 52,675 $294,578 Down ×4
EFA iShares Trust $2,958,087 0.19% 28,476 $193,087 Up ×2
BGSI Boyd Group Services Inc. Common Shares $2,934,266 0.19% 31,000 $-997,898 Up ×2
APP Applovin Corporation - Class A Common Stock $2,833,765 0.18% 5,500 $644,765
MNST Monster Beverage Corporation - Common Stock $2,728,078 0.18% 28,382 $932,374 Up ×1
EME EMCOR Group, Inc. Common Stock $2,707,898 0.18% 3,263 $308,390 Up ×1
VST Vistra Corp. Common Stock $2,699,089 0.17% 17,015 $1,195,789 Up ×1
TPR Tapestry, Inc. Common Stock $2,488,460 0.16% 17,000 $89,590
PSMT PriceSmart, Inc. - Common Stock $2,404,635 0.16% 12,310 Up ×1
CB Chubb Limited Common Stock $2,385,180 0.15% 7,000 $755,530 Up ×1
CASY Caseys General Stores, Inc. - Common Stock $2,384,370 0.15% 3,000 Up ×1
BAM Brookfield Asset Management Inc Class A Limited Voting Shares $2,368,794 0.15% 52,825 $1,158,430 Up ×1
IBKR Interactive Brokers Group, Inc. - Class A Common Stock $2,339,635 0.15% 26,880
KLAC KLA Corporation - Common Stock $2,262,825 0.15% 7,500 $643,174 Up ×1
SPGI S&P Global Inc. Common Stock $2,260,293 0.15% 5,550 $158,688 Up ×1
RJF Raymond James Financial, Inc. Common Stock $2,250,044 0.15% 14,800 $-1,485,538 Down ×2
DSGX The Descartes Systems Group Inc. - Common Stock $2,174,042 0.14% 31,400 $-71,442 Down ×1
MSCI MSCI Inc. Common Stock $2,128,152 0.14% 3,800 $511,122 Up ×1
WFRD Weatherford International plc - Ordinary shares $2,127,150 0.14% 26,100 Up ×1
TEL TE Connectivity plc Ordinary Shares $2,005,011 0.13% 9,945 $-163,572 Down ×2
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF $2,003,074 0.13% 37,673 $142,875 Up ×6
CW Curtiss-Wright Corporation Common Stock $1,970,176 0.13% 2,600 Up ×1
WWD Woodward, Inc. - Common Stock $1,957,024 0.13% 4,600 Up ×1
FN Fabrinet Ordinary Shares $1,950,418 0.13% 3,470 Up ×1
ROST Ross Stores, Inc. - Common Stock $1,851,795 0.12% 8,700 Up ×1
RMD ResMed Inc. Common Stock $1,851,360 0.12% 9,500 $-281,200
AS Amer Sports, Inc. Ordinary Shares $1,838,696 0.12% 54,335 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
LLY $47,265,939 3.06% up ×3
CNQ $32,889,888 2.13% up ×4
GIL $23,760,819 1.54% up ×3
NFLX $21,620,062 1.40% up ×4
TJX $19,829,381 1.28% up ×4
ADI $16,771,298 1.09% up ×3
RSG $3,153,584 0.20% up ×4
IGIB $2,003,074 0.13% up ×6
TLH $1,322,614 0.09% up ×6
USIG $1,228,754 0.08% up ×6
SPHY $874,101 0.06% up ×4
SRLN $400,241 0.03% up ×5
BTGD $384,636 0.02% up ×3
PFFA $360,942 0.02% up ×4
PFF $298,802 0.02% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
PSMT $2,404,635 12,310 0.16%
CASY $2,384,370 3,000 0.15%
IBKR $2,339,635 26,880 0.15%
WFRD $2,127,150 26,100 0.14%
CW $1,970,176 2,600 0.13%
WWD $1,957,024 4,600 0.13%
FN $1,950,418 3,470 0.13%
ROST $1,851,795 8,700 0.12%
AS $1,838,696 54,335 0.12%
IBM $1,456,668 5,180 0.09%
SN $1,315,613 8,640 0.09%
UI $1,292,353 2,420 0.08%
CVE $1,059,434 42,716 0.07%
CLX $1,025,980 10,750 0.07%
IMO $220,780 1,970 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
RY Bought more +25K +$21.7M
UNP Bought more +55K +$17.2M
LLY Bought more +3K +$13.9M
DELL Trimmed -7K +$12.2M
APH Trimmed -133K -$11.3M
GOOG Trimmed -919 +$10.9M
LIN Bought more +17K +$10.7M
MSFT Bought more +27K +$10.6M
PHM Trimmed -106K -$10.3M
TSM Bought more +10K +$10.1M

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
SHOP March 31, 2026 272,184 $43,850,373 39.4%
MRSH Dec. 31, 2025 133,918 $26,988,494 -7.4%
CNI Sept. 30, 2025 104,438 $10,877,679 26.2%
ACN Sept. 30, 2025 27,010 $8,073,019 -21.6%
GRTUF March 31, 2026 126,910 $7,563,412 No longer tracked
MSI Sept. 30, 2025 16,895 $7,103,672 -0.2%
DLR Sept. 30, 2025 31,010 $5,405,973 6.1%
MELI March 31, 2026 2,550 $5,136,363 7.5%
AJG March 31, 2026 19,022 $4,922,704 6.1%
EUFN March 31, 2026 126,135 $4,678,347
HD June 30, 2026 14,212 $4,674,185 -19.1%
ADBE March 31, 2026 12,000 $4,199,880 -2.0%
EMN June 30, 2025 47,330 $4,170,247 -14.1%
BRK-B (filed as BRKB) Sept. 30, 2025 8,392 $4,076,582 No longer tracked
UBER June 30, 2026 55,000 $3,956,150 -3.8%
TMUS Dec. 31, 2025 15,895 $3,804,945 -19.6%
CDNS March 31, 2026 12,132 $3,792,221 29.4%
AON March 31, 2026 9,730 $3,433,522 -15.4%
KKR March 31, 2026 25,998 $3,314,225 -2.0%
APO June 30, 2025 23,000 $3,149,620 -18.7%
ABNB June 30, 2025 26,040 $3,110,738 21.2%
MCD Sept. 30, 2025 10,405 $3,040,029 -23.4%
DHR June 30, 2025 14,626 $2,998,330 9.1%
COF March 31, 2026 12,000 $2,908,320 7.3%
DECK Dec. 31, 2025 27,778 $2,815,855 -21.0%
ZTS Sept. 30, 2025 18,000 $2,807,100 -51.0%
XLE June 30, 2025 29,781 $2,783,034 50.5%
BKNG June 30, 2026 650 $2,736,708 -11.6%
NU June 30, 2026 190,000 $2,730,300 16.2%
DLTR Dec. 31, 2025 27,500 $2,595,175 -5.0%
NVR Sept. 30, 2025 350 $2,584,981 -25.4%
VIK June 30, 2026 35,000 $2,571,800 -22.0%
KNSL Sept. 30, 2025 5,250 $2,540,475 -20.9%
ACGL Sept. 30, 2025 27,680 $2,520,265 4.6%
TRI March 31, 2026 19,022 $2,512,913 9.0%
DPZ Sept. 30, 2025 5,500 $2,478,300 -29.8%
HLT June 30, 2026 8,000 $2,432,640 -2.2%
SPLV June 30, 2025 32,175 $2,404,116
TPL Sept. 30, 2025 2,250 $2,376,878 13.0%
KNSL March 31, 2026 6,000 $2,346,720 -1.5%
CELH March 31, 2026 50,000 $2,287,000 -22.0%
SVOL June 30, 2025 126,665 $2,283,646
LULU June 30, 2025 8,000 $2,264,480 -60.6%
CME Dec. 31, 2025 8,200 $2,215,558 -1.1%
PEP June 30, 2025 14,710 $2,205,618 -3.9%
CHE Sept. 30, 2025 4,500 $2,191,185 13.8%
FTNT March 31, 2026 27,000 $2,144,070 134.1%
PODD March 31, 2026 7,500 $2,131,800 -35.6%
TT June 30, 2025 6,175 $2,080,481 8.9%
FTI June 30, 2026 30,000 $2,073,900 6.1%
SCHW June 30, 2025 25,000 $1,957,000 6.1%
BRO Sept. 30, 2025 17,500 $1,940,225 -34.8%
CCK Dec. 31, 2025 20,000 $1,931,800 4.6%
WTS June 30, 2026 6,500 $1,886,885 -7.1%
TEAM June 30, 2025 8,750 $1,856,838 -4.5%
DCBO June 30, 2025 63,600 $1,829,011 -16.7%
ARES March 31, 2026 11,090 $1,792,476 8.8%
SSNC Dec. 31, 2025 20,000 $1,775,200 -9.1%
NOA Sept. 30, 2025 110,100 $1,758,211 -13.8%
SPOT March 31, 2026 3,000 $1,742,130 0.7%
PODD June 30, 2025 6,500 $1,706,965 -57.0%
IQV June 30, 2026 10,005 $1,706,253 34.6%
COF June 30, 2025 9,500 $1,703,350 -8.0%
ADSK June 30, 2026 7,000 $1,675,800 19.0%
ABT Sept. 30, 2025 11,500 $1,564,115 -25.8%
CPRT June 30, 2025 27,500 $1,556,225 -44.9%
DG Dec. 31, 2025 15,000 $1,550,250 -6.8%
IBKR Dec. 31, 2025 22,500 $1,548,225 40.8%
FMX Sept. 30, 2025 15,000 $1,544,700 20.0%
BAH June 30, 2025 14,515 $1,517,979 -34.2%
GDDY Sept. 30, 2025 8,000 $1,440,480 -27.5%
CARR June 30, 2025 22,095 $1,400,823 -23.4%
ELV Sept. 30, 2025 3,500 $1,361,360 23.8%
PAYC March 31, 2026 8,525 $1,358,544 83.0%
WCN March 31, 2026 7,550 $1,323,968 -4.1%
INTU June 30, 2026 3,000 $1,297,140 11.4%
WIX Sept. 30, 2025 8,000 $1,267,680 -58.4%
HOOD June 30, 2025 30,000 $1,248,600 22.0%
IBM March 31, 2026 4,000 $1,184,840 -8.1%
RIO June 30, 2026 12,700 $1,184,783 1.0%
WBD Dec. 31, 2025 60,300 $1,177,659 7.4%
PYPL Dec. 31, 2025 17,535 $1,175,897 -6.0%
REGN June 30, 2026 1,500 $1,158,960 18.5%
IDXX June 30, 2025 2,750 $1,154,863 -3.9%
VLO June 30, 2026 4,600 $1,136,568 59.3%
AEM June 30, 2026 5,450 $1,102,731 19.9%
MO Sept. 30, 2025 18,650 $1,093,450 3.8%
UTHR June 30, 2025 3,500 $1,078,945 87.3%
COPX March 31, 2026 15,000 $1,076,850
FALN March 31, 2026 38,800 $1,059,240
PAYX Sept. 30, 2025 7,250 $1,054,585 -20.3%
ZTS June 30, 2026 8,900 $1,052,069 -0.2%
BKLN March 31, 2026 50,000 $1,050,000
CPAY June 30, 2025 3,000 $1,046,160 22.3%
UNH June 30, 2025 1,920 $1,005,600 20.2%
QCOM March 31, 2026 5,650 $966,433 40.0%
AESI June 30, 2026 72,700 $953,824 -22.3%
UPS Sept. 30, 2025 9,350 $943,789 11.6%
DKNG Dec. 31, 2025 25,000 $935,000 -41.6%
AEM Sept. 30, 2025 7,750 $921,480 10.4%
ORCL March 31, 2026 4,690 $914,128 -1.2%
LYV June 30, 2025 7,000 $914,060 13.9%
GDX March 31, 2026 10,440 $895,439 -3.7%
BUD Sept. 30, 2025 12,500 $859,000 26.9%
EW March 31, 2026 10,000 $852,500 8.5%
WRB March 31, 2026 11,765 $824,962 6.7%
CAH March 31, 2026 4,000 $822,000 10.2%
AN June 30, 2025 5,000 $809,600 -20.4%
WPM March 31, 2026 6,750 $794,413 5.1%
DG June 30, 2026 6,000 $712,380 7.5%
XLF March 31, 2026 12,797 $700,892 9.7%
ASML June 30, 2025 1,000 $662,630 128.9%
FCX June 30, 2025 16,750 $634,155 66.7%
PINS June 30, 2025 20,000 $620,000 -45.3%
SFM Sept. 30, 2025 3,500 $576,240 -40.1%
VET March 31, 2026 67,313 $560,674 -15.8%
GDX June 30, 2025 12,160 $558,995 69.7%
RBA June 30, 2026 5,300 $506,663 -29.0%
RACE Sept. 30, 2025 1,000 $490,740 -19.7%
ORLA Sept. 30, 2025 46,800 $469,200 No longer tracked
TOST March 31, 2026 12,500 $443,875 14.6%
PAAS March 31, 2026 8,500 $441,166 -16.1%
RBA Sept. 30, 2025 3,500 $371,085 -23.7%
TMO Sept. 30, 2025 850 $344,641 35.9%
UNP June 30, 2025 1,430 $337,823 20.2%
RSST June 30, 2025 15,000 $331,350
NVO June 30, 2025 4,679 $324,910 -46.3%
BBU Dec. 31, 2025 9,700 $318,038 No longer tracked
QSR Dec. 31, 2025 4,900 $314,208 3.5%
GIB June 30, 2025 2,810 $280,485 -33.7%
RCI June 30, 2026 5,920 $227,247 -6.4%
SHYG Sept. 30, 2025 5,110 $220,445
LRCX June 30, 2025 3,000 $218,100 241.8%
MKL March 31, 2026 100 $214,965 -8.7%
LOW March 31, 2026 831 $200,404 -22.3%
TU March 31, 2026 14,364 $189,427 -38.6%