Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +20.5%
S&P 500 total return (same window) +37.0%
Excess return -16.5%

Annualized: +16.1% · 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: 99.4% · Options excluded: 0.0%

Sector breakdown

04
Healthcare 24.8%
Financials 16.5%
Industrials 11.2%
Utilities 9.1%
Energy 7.7%
Consumer Staples 7.3%
Retail 7.0%
Communication Services 4.2%
Consumer Discretionary 3.0%
Technology 2.8%
Consumer products 2.7%
Real Estate 1.7%
Other/Unmapped 1.8%

Full portfolio 58 positions

05
Type Streak 8Q trend
TGT Target Corporation Common Stock $76,495,665 5.72% 585,680 $-246,842 Down ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $74,906,917 5.60% 180,225 $23,143,321 Down ×1
CVS CVS Health Corporation Common Stock $68,330,794 5.11% 660,520 $16,910,547 Down ×5
FDX FedEx Corporation Common Stock $61,939,619 4.63% 197,808 $-14,293,586 Down ×1
MDLZ Mondelez International, Inc. - Class A Common Stock $53,638,502 4.01% 927,360 $-4,331,487 Down ×1
CVX Chevron Corporation Common Stock $50,659,903 3.79% 305,622 $-18,554,768 Down ×1
DUK Duke Energy Corporation (Holding Company) Common Stock $43,667,695 3.26% 344,981 $-5,550,818 Down ×1
USB U.S. Bancorp Common Stock $42,585,382 3.18% 705,056 $2,627,867 Down ×1
GD General Dynamics Corporation Common Stock $41,273,919 3.09% 116,514 $-1,190,632 Down ×1
SO Southern Company (The) Common Stock $39,351,645 2.94% 411,155 $-3,896,071 Down ×1
NEE NextEra Energy, Inc. Common Stock $39,201,593 2.93% 446,640 $-6,010,069 Down ×1
PG Procter & Gamble Company (The) Common Stock $36,694,460 2.74% 250,235 $-1,656,527 Down ×1
XOM Exxon Mobil Corporation Common Stock $35,140,048 2.63% 257,022 $-12,638,244 Down ×1
PFE Pfizer, Inc. Common Stock $32,887,910 2.46% 1,365,777 $-7,807,648 Down ×1
JNJ Johnson & Johnson Common Stock $31,969,744 2.39% 125,880 $-673,996 Down ×5
TXN Texas Instruments Incorporated - Common Stock $29,410,567 2.20% 98,670 $8,540,517 Down ×1
T AT&T Inc. $27,243,332 2.04% 1,316,103 $-14,334,503 Down ×5
BMY Bristol-Myers Squibb Company Common Stock $26,578,665 1.99% 461,275 $-3,104,658 Down ×1
KO Coca-Cola Company (The) Common Stock $25,218,081 1.88% 310,300 $-499,747 Down ×5
MS Morgan Stanley Common Stock $24,166,069 1.81% 115,605 $3,434,363 Down ×6
CMCSA Comcast Corporation - Class A Common Stock $23,096,885 1.73% 940,810 $-6,340,483 Down ×1
UNP Union Pacific Corporation Common Stock $22,066,000 1.65% 81,125 $617,179 Down ×1
BAC Bank of America Corporation Common Stock $21,246,702 1.59% 372,880 $1,440,065 Down ×5
JPM JP Morgan Chase & Co. Common Stock $20,838,482 1.56% 63,662 $442,310 Down ×6
SBUX Starbucks Corporation - Common Stock $20,774,205 1.55% 203,290 $922,853 Down ×1
SCHW Charles Schwab Corporation (The) Common Stock $18,935,188 1.42% 205,215 $-2,080,150 Down ×1
GILD Gilead Sciences, Inc. - Common Stock $18,652,838 1.39% 147,640 $-3,187,138 Down ×5
MRK Merck & Company, Inc. Common Stock (new) $18,502,072 1.38% 143,985 $115,746 Down ×5
MET MetLife, Inc. Common Stock $18,344,717 1.37% 216,815 $1,637,471 Down ×1
WFC Wells Fargo & Company Common Stock $18,182,040 1.36% 220,015 $-907,244 Down ×1
LMT Lockheed Martin Corporation Common Stock $18,036,922 1.35% 35,404 $-4,660,944 Down ×2
AIG American International Group, Inc. New Common Stock $17,862,605 1.34% 239,670 $-1,792,695 Down ×1
COP ConocoPhillips Common Stock $17,543,250 1.31% 168,750 $-7,121,610 Down ×1
HD Home Depot, Inc. (The) Common Stock $17,540,540 1.31% 49,735 $-276,089 Down ×1
AMGN Amgen Inc. - Common Stock $16,741,894 1.25% 46,233 $-512,126 Down ×6
ABBV AbbVie Inc. Common Stock $16,634,159 1.24% 66,103 $1,386,370 Down ×1
PEP PepsiCo, Inc. - Common Stock $16,154,574 1.21% 119,310 $-4,046,326 Down ×1
AMT American Tower Corporation (REIT) Common Stock $15,978,335 1.19% 97,685 $-2,406,612 Down ×1
Unknown issuer (CUSIP: 314352105) $14,932,692 1.12% 98,892 Up ×1
ABT Abbott Laboratories Common Stock $14,929,906 1.12% 164,535 $-2,996,789 Down ×1
BK The Bank of New York Mellon Corporation Common Stock $13,299,637 0.99% 91,969 $1,412,436 Down ×6
C Citigroup, Inc. Common Stock $12,829,433 0.96% 91,665 $1,507,713 Down ×5
GS Goldman Sachs Group, Inc. (The) Common Stock $12,346,805 0.92% 12,208 $1,110,366 Down ×6
MDT Medtronic plc. Ordinary Shares $12,326,701 0.92% 157,570 $-2,555,003 Down ×5
GM General Motors Company Common Stock $10,102,876 0.76% 131,070 $-542,429 Down ×5
NKE Nike, Inc. Common Stock $9,056,656 0.68% 220,625 $-3,644,441 Down ×1
ACN Accenture plc Class A Ordinary Shares (Ireland) $8,695,245 0.65% 69,875 $-6,390,658 Down ×1
SPG Simon Property Group, Inc. Common Stock $6,768,767 0.51% 30,265 $606,748 Down ×6
UPS United Parcel Service, Inc. Common Stock $6,110,837 0.46% 56,845 $23,575 Down ×5
VZ Verizon Communications Inc. Common Stock $5,846,985 0.44% 138,096 $-1,708,667 Down ×5
IVE iShares Trust $4,709,224 0.35% 20,740 $329,973
MO Altria Group, Inc. $2,636,248 0.20% 36,640 $218,374
SPY SPY $2,352,325 0.18% 3,150 $303,754
Unknown issuer (CUSIP: 808509855) $803,651 0.06% 41,597 $106,072
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $748,850 0.06% 1 $30,710
VSNT Versant Media Group, Inc. - Class A Common Stock $540,906 0.04% 15,021 $-69,184 Down ×1
Unknown issuer (CUSIP: 000000BHP) $212,140 0.02% 5,155 Up ×1
Unknown issuer (CUSIP: 385460000) $139,326 0.01% 15,300 $18,390

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 314352105) $14,932,692 98,892 1.12%
Unknown issuer (CUSIP: 000000BHP) $212,140 5,155 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
UNH Trimmed -11K +$23.1M
CVX Trimmed -29K -$18.6M
CVS Trimmed -55K +$16.9M
T Trimmed -118K -$14.3M
FDX Trimmed -16K -$14.3M
XOM Trimmed -25K -$12.6M
TXN Trimmed -9K +$8.5M
PFE Trimmed -83K -$7.8M
COP Trimmed -18K -$7.1M
ACN Trimmed -6K -$6.4M

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
CSCO March 31, 2026 483,478 $37,242,310 44.6%
COF March 31, 2026 100,685 $24,402,017 6.7%
MCD March 31, 2026 77,270 $23,616,030 -25.4%
MMM March 31, 2026 139,535 $22,339,553 11.5%
QCOM March 31, 2026 108,185 $18,505,044 43.6%
AXP March 31, 2026 32,455 $12,006,727 0.1%
CAT March 31, 2026 11,520 $6,599,462 19.3%
F March 31, 2026 381,820 $5,009,478 4.9%
KHC March 31, 2026 121,995 $2,958,379 -1.3%
DOW March 31, 2026 93,485 $2,185,679 -32.8%
IBM March 31, 2026 1,095 $324,350 -8.1%
HSBC March 31, 2026 12,845 $202,799 16.5%