Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +51.6%
S&P 500 total return (same window) +37.0%
Excess return +14.6%

Annualized: +39.5% · 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: 91.9% · Options excluded: 0.0%

Sector breakdown

04
Technology 20.1%
Industrials 9.8%
Financials 8.4%
Healthcare 7.5%
Retail 3.1%
Consumer Discretionary 1.8%
Materials 1.4%
Communication Services 1.3%
Consumer Staples 1.2%
Utilities 1.2%
Consumer products 0.9%
Real Estate 0.4%
Energy 0.3%
Other/Unmapped 42.6%

Full portfolio 251 positions

05
Type Streak 8Q trend
AMAT Applied Materials, Inc. - Common Stock $12,186,888 9.97% 14,756 $6,425,676 Down ×1
XLK SELECT SECTOR SPDR TRUST $7,548,990 6.18% 34,014 $-496,062 Down ×1
IJH iShares Trust $6,949,921 5.69% 64,233 $795,649 Down ×1
IVV iShares Trust $5,935,467 4.86% 9,487 $-606 Up ×2
XLB XLB $4,388,257 3.59% 29,690 $3,789,588 Up ×3
ITOT iShares Trust $4,299,085 3.52% 26,494 $668,166 Up ×5
XLP XLP $4,197,691 3.44% 53,394 $2,903,931 Up ×2
IJR iShares Trust $3,686,122 3.02% 25,727 $-1,863,787 Down ×1
XLF SELECT SECTOR SPDR TRUST $2,722,068 2.23% 21,442 $1,654,294 Down ×1
JCI Johnson Controls International plc Ordinary Share $2,382,769 1.95% 9,495 $457,804 Down ×1
XLY XLY $2,045,574 1.67% 19,526 $2,417 Up ×3
AVGO Broadcom Inc. - Common Stock $2,002,075 1.64% 5,300 $361,672
IBM International Business Machines Corporation Common Stock $1,890,220 1.55% 9,567 $517,808 Up ×2
MSFT Microsoft Corporation - Common Stock $1,853,140 1.52% 4,970 $13,395
XLV SELECT SECTOR SPDR TRUST $1,809,869 1.48% 11,478 $251,574 Up ×2
CSX CSX Corporation - Common Stock $1,659,174 1.36% 30,123 $548,443 Up ×2
TPR Tapestry, Inc. Common Stock $1,622,235 1.33% 6,105 $820,730 Up ×1
APH Amphenol Corporation Common Stock $1,469,804 1.20% 8,336 $416,550
ABBV AbbVie Inc. Common Stock $1,443,915 1.18% 5,380 $189,636 Down ×1
XLE SELECT SECTOR SPDR TRUST $1,428,307 1.17% 24,604 $203,601 Up ×3
HBAN Huntington Bancshares Incorporated - Common Stock $1,381,511 1.13% 11,641 $1,327,644 Up ×1
AMGN Amgen Inc. - Common Stock $1,347,433 1.10% 3,403 $-68,060 Down ×1
CMI Cummins Inc. Common Stock $1,301,608 1.07% 1,825 $319,721
XLI SELECT SECTOR SPDR TRUST $1,232,778 1.01% 8,779 $-1,586,572 Down ×1
INTC Intel Corporation - Common Stock $1,226,808 1.00% 3,831 $608,750 Down ×1
LLY Eli Lilly and Company Common Stock $1,216,887 1.00% 1,015 $283,731
ZION Zions Bancorporation N.A. - Common Stock $1,198,224 0.98% 1,600 $1,169,414 Up ×1
LRCX Lam Research Corporation - Common Stock $1,195,779 0.98% 3,201 $276,827 Down ×2
XLU XLU $1,058,256 0.87% 17,957 $309,182 Up ×3
ADI Analog Devices, Inc. - Common Stock $1,014,372 0.83% 2,054 $42,772 Down ×1
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF $985,072 0.81% 10,850 $494,900 Up ×1
KR Kroger Company (The) Common Stock $947,734 0.78% 3,460 $675,660 Down ×1
PFG Principal Financial Group Inc - Common Stock $906,550 0.74% 7,239 $147,463 Down ×1
ON ON Semiconductor Corporation - Common Stock $879,222 0.72% 9,300 $303,366
PFE Pfizer, Inc. Common Stock $787,733 0.64% 28,763 $-203,575 Down ×1
MRK Merck & Company, Inc. Common Stock (new) $751,680 0.62% 4,752 $-92,374 Down ×3
PG Procter & Gamble Company (The) Common Stock $748,502 0.61% 5,354 $45,946 Up ×2
PEP PepsiCo, Inc. - Common Stock $734,861 0.60% 10,097 $-6,911 Up ×2
AXP American Express Company Common Stock $678,891 0.56% 1,705 $69,394 Down ×2
EWG iShares MSCI Germany Index Fund $672,994 0.55% 9,273 $145,423 Down ×1
BAC Bank of America Corporation Common Stock $661,823 0.54% 11,615 $95,592
CVS CVS Health Corporation Common Stock $638,301 0.52% 4,449 $-153,155 Down ×2
AAPL Apple Inc. - Common Stock $603,429 0.49% 2,168 $53,212
AFL AFLAC Incorporated Common Stock $587,271 0.48% 5,028 $35,649
NUE Nucor Corporation Common Stock $571,284 0.47% 3,406 $120,411 Up ×1
EMR Emerson Electric Company Common Stock $563,666 0.46% 3,175 $149,250 Up ×1
TJX TJX Companies, Inc. (The) Common Stock $549,564 0.45% 3,552 $70,145 Up ×1
SYY Sysco Corporation Common Stock $531,780 0.44% 4,287 $16,064 Down ×2
TROW T. Rowe Price Group, Inc. - Common Stock $507,445 0.42% 3,458 $448,015 Up ×1
WSM Williams-Sonoma, Inc. Common Stock (DE) $500,795 0.41% 900 $-46,195 Down ×2
EPP iShares, Inc. $498,883 0.41% 6,173 $1,067 Down ×1
EWJ iShares MSCI Japan Index Fund $489,831 0.40% 6,328 $-139,838 Down ×1
GILD Gilead Sciences, Inc. - Common Stock $465,526 0.38% 2,088 $-242,474 Down ×1
ORI Old Republic International Corporation Common Stock $458,194 0.38% 7,782 $186,874 Up ×2
CB Chubb Limited Common Stock $458,188 0.38% 1,253 $-149,671 Down ×1
WY Weyerhaeuser Company Common Stock $438,026 0.36% 9,560 $-15,395 Down ×1
IEFA iShares Core MSCI EAFE ETF $436,326 0.36% 4,539 $15,697 Down ×1
RGA Reinsurance Group of America, Incorporated Common Stock $435,286 0.36% 1,369 $379,296 Up ×1
ITW Illinois Tool Works Inc. Common Stock $425,720 0.35% 729 $16,024 Down ×1
MATX Matson, Inc. Common Stock $409,717 0.34% 2,830 $307,218 Up ×1
AMZN Amazon.com, Inc. - Common Stock $408,096 0.33% 1,740 $45,706
XLC SELECT SECTOR SPDR TRUST $406,692 0.33% 3,492 $-13,689 Down ×1
WMT Walmart Inc. - Common Stock $391,957 0.32% 2,606 $-93,481 Down ×1
D Dominion Energy, Inc. Common Stock $388,329 0.32% 3,600 $13,391 Down ×1
EG Everest Group, Ltd. Common Stock $379,083 0.31% 835 $27,942 Down ×2
IYY iShares Dow Jones U.S. ETF $355,093 0.29% 1,198 $46,422 Down ×1
SWKS Skyworks Solutions, Inc. - Common Stock $347,969 0.28% 4,603 $104,156 Up ×1
MET MetLife, Inc. Common Stock $342,547 0.28% 1,854 $49,908 Down ×3
META Meta Platforms, Inc. - Class A Common Stock $322,963 0.26% 911 $-169,641 Up ×1
OMC Omnicom Group Inc. Common Stock $317,790 0.26% 1,953 $-106,356 Down ×1
GNRC Generac Holdlings Inc. Common Stock $315,850 0.26% 2,500 $300,224 Up ×1
T AT&T Inc. $314,019 0.26% 10,927 $-126,922 Down ×2
PPG PPG Industries, Inc. Common Stock $306,978 0.25% 2,642 $221,647 Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $300,596 0.25% 1,454 $-34,106 Up ×2
DUK Duke Energy Corporation (Holding Company) Common Stock $299,483 0.25% 1,666 $-9,913 Down ×1
WU Western Union Company (The) Common Stock $293,069 0.24% 15,320 $197,301 Up ×1
QCOM QUALCOMM Incorporated - Common Stock $286,890 0.23% 1,100 $33,451 Down ×2
LIN Linde plc - Ordinary Shares $280,772 0.23% 1,730 $668 Up ×1
PRU Prudential Financial, Inc. Common Stock $257,539 0.21% 1,832 $-205,512 Down ×1
TXN Texas Instruments Incorporated - Common Stock $237,668 0.19% 1,960 $-745,722 Down ×1
WTS Watts Water Technologies, Inc. Class A Common Stock $234,870 0.19% 600 $60,696
NSC Norfolk Southern Corporation Common Stock $234,230 0.19% 616 $74,945 Up ×1
VMC Vulcan Materials Company (Holding Company) Common Stock $231,583 0.19% 785 $17,827
KLAC KLA Corporation - Common Stock $227,843 0.19% 2,368 $-468,607 Up ×1
UNF Unifirst Corporation Common Stock $224,784 0.18% 838 $-20,013 Down ×2
ETR Entergy Corporation Common Stock $221,207 0.18% 2,520 $-135,199 Down ×1
BMY Bristol-Myers Squibb Company Common Stock $220,304 0.18% 2,723 $-11,585 Down ×1
ALL Allstate Corporation (The) Common Stock $201,677 0.17% 862 $22,950
HCA HCA Healthcare, Inc. Common Stock $200,999 0.16% 1,841 $-106,607 Up ×1
ADM Archer-Daniels-Midland Company Common Stock $199,786 0.16% 2,615 $9,702
UNM Unum Group Common Stock $196,233 0.16% 2,195 $35,932
LOW Lowe's Companies, Inc. Common Stock $195,870 0.16% 405 $-270,783 Down ×1
DHR Danaher Corporation Common Stock $192,231 0.16% 1,972 $75,536 Up ×1
UPS United Parcel Service, Inc. Common Stock $192,063 0.16% 1,200 $14,979 Down ×3
TFC Truist Financial Corporation Common Stock $185,635 0.15% 1,335 $73,330 Down ×1
VZ Verizon Communications Inc. Common Stock $185,178 0.15% 4,002 $-85,894 Down ×3
NVO Novo Nordisk A/S Common Stock $183,610 0.15% 3,830 $42,857
COST Costco Wholesale Corporation - Common Stock $178,876 0.15% 189 $-9,449
CACI CACI International, Inc. Class A Common Stock $176,039 0.14% 380 $-30,632
SNDK Sandisk Corporation - Common Stock $165,982 0.14% 73

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
XLB $4,388,257 3.59% up ×3
ITOT $4,299,085 3.52% up ×5
XLY $2,045,574 1.67% up ×3
XLE $1,428,307 1.17% up ×3
XLU $1,058,256 0.87% up ×3
LECO $155,484 0.13% up ×5
SCHB $41,981 0.03% up ×5
DOW $14,450 0.01% up ×5
ARCC $14,147 0.01% up ×5
ENB $5,807 0.00% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
SNDK $165,982 73 0.14%
Unknown issuer (CUSIP: 438516205) $89,560 400 0.07%
Unknown issuer (CUSIP: 43849R105) $88,432 400 0.07%
EFA $10,388 100 0.01%
Unknown issuer (CUSIP: 26614N201) $9,495 70 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
AMAT Trimmed -2K +$6.4M
XLP Bought more +38K +$2.9M
IJR Trimmed -19K -$1.9M
XLF Trimmed -186 +$1.7M
XLI Trimmed -9K -$1.6M
TPR Bought more +425 +$821K
IJH Trimmed -27K +$796K
TXN Trimmed -3K -$746K
KR Trimmed -300 +$676K
ITOT Bought more +1K +$668K

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
AGG March 31, 2026 11,466 $1,145,232
JNJ Dec. 31, 2025 4,475 $824,330 22.2%
LQD March 31, 2026 4,779 $526,611
IPG Dec. 31, 2025 16,440 $457,491 No longer tracked
CAH June 30, 2026 1,548 $327,083 -1.9%
K Dec. 31, 2025 4,025 $321,869 No longer tracked
ISTB March 31, 2026 6,477 $315,737
GLW June 30, 2026 2,000 $271,940 -37.6%
HON June 30, 2026 800 $180,824 -4.4%
RS June 30, 2025 600 $173,250 30.1%
NKE June 30, 2025 1,875 $119,025 -52.2%
CBOE June 30, 2026 400 $112,428
PARA Sept. 30, 2025 6,600 $85,140
RHHBY June 30, 2026 1,625 $79,551 No longer tracked
BDX June 30, 2026 500 $78,615 19.4%
MAS June 30, 2026 1,300 $78,481 -15.9%
EMN March 31, 2026 1,200 $76,596 -14.9%
CBT Dec. 31, 2025 1,000 $76,050 16.7%
AVNT June 30, 2025 1,500 $55,740 28.8%
SW June 30, 2025 1,200 $54,072 -1.7%
GBX Dec. 31, 2025 1,100 $50,787 -13.3%
ENTG June 30, 2025 450 $39,366 107.0%
REGN March 31, 2026 50 $38,594 -6.0%
MLM March 31, 2026 50 $31,133 -17.5%
WNC June 30, 2026 3,350 $28,877 3.6%
WBA Sept. 30, 2025 2,435 $27,954 No longer tracked
PDCO June 30, 2025 800 $24,992 No longer tracked
VRTS Dec. 31, 2025 130 $24,704 -17.6%
HBI Dec. 31, 2025 3,640 $23,988 No longer tracked
SAFRY June 30, 2026 277 $22,293 No longer tracked
MBB March 31, 2026 225 $21,425
LRLCY June 30, 2026 262 $21,092 No longer tracked
DINO June 30, 2025 610 $20,057 180.5%
IVZ March 31, 2026 710 $18,652 25.6%
GIS March 31, 2026 400 $18,600 -14.9%
KBWB Dec. 31, 2025 200 $15,642
DFS June 30, 2025 85 $14,510 No longer tracked
LMT March 31, 2026 30 $14,510 -16.2%
BGS March 31, 2026 3,000 $12,900 -47.2%
BWA March 31, 2026 265 $11,941 11.1%
TTC March 31, 2026 150 $11,808 5.9%
ALB June 30, 2026 65 $11,669 -22.7%
KLG Dec. 31, 2025 506 $11,638 No longer tracked
KMI June 30, 2026 330 $11,065 -1.8%
BA June 30, 2025 105 $10,331 -8.0%
DD June 30, 2026 211 $9,669 -3.6%
SEE June 30, 2026 200 $8,410 No longer tracked
FLO March 31, 2026 700 $7,616 -31.3%
EIX June 30, 2026 89 $6,513 -27.1%
ACHC March 31, 2026 400 $5,676 23.4%
FNF March 31, 2026 100 $5,459 -15.9%
TEX March 31, 2026 100 $5,338 -3.7%
ZBH March 31, 2026 55 $4,946 1.3%
HESM March 31, 2026 135 $4,658 -1.2%
RVTY Dec. 31, 2025 50 $4,426 62.6%
HAS Dec. 31, 2025 50 $3,793 12.7%
SCCO June 30, 2025 40 $3,738 113.3%
WHR March 31, 2026 50 $3,607 -44.3%
SNDK June 30, 2025 73 $3,476 3657.8%
PHIN March 31, 2026 53 $3,323 -12.1%
MOS March 31, 2026 115 $2,770 -16.5%
LAZ March 31, 2026 50 $2,428 -16.9%
FMC March 31, 2026 160 $2,219 -47.7%
HMC March 31, 2026 75 $2,211 30.7%
RGR Dec. 31, 2025 50 $2,174 36.0%
EMBC Dec. 31, 2025 100 $1,390 -50.5%
XRX March 31, 2026 400 $948 134.1%
GT Dec. 31, 2025 100 $748 -46.6%
MSM June 30, 2026 8 $738 9.4%
LEG Dec. 31, 2025 50 $444 No longer tracked
OXYWS March 31, 2026 12 $231 No longer tracked
MODVQ March 31, 2026 300 $5 No longer tracked