Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +110.2%
S&P 500 total return (same window) +37.0%
Excess return +73.2%

Annualized: +81.3% · 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: 98.9% · Options excluded: 0.0%

Sector breakdown

04
Industrials 28.6%
Healthcare 21.3%
Technology 19.8%
Financials 8.7%
Consumer Discretionary 4.5%
Retail 4.1%
Energy 2.7%
Communication Services 2.3%
Materials 2.0%
Real Estate 1.0%
Consumer Staples 1.0%
Utilities 0.0%
Other/Unmapped 4.1%

Full portfolio 237 positions

05
Type Streak 8Q trend
TVTX Travere Therapeutics, Inc. - Common Stock $90,946,334 2.14% 1,600,886 $44,682,041 Up ×1
CDNL Cardinal Infrastructure Group Inc. - Class A Common Stock $79,878,680 1.88% 847,969 $56,934,297 Up ×2
MRCY Mercury Systems Inc - Common Stock $78,129,969 1.84% 638,682 $34,725,625 Up ×2
AIR AAR Corp. Common Stock $74,597,883 1.76% 521,919 $25,812,327 Up ×4
VSEC VSE Corporation - Common Stock $73,840,232 1.74% 323,152 $15,793,140 Up ×3
KLIC Kulicke and Soffa Industries, Inc. - Common Stock $73,773,322 1.74% 551,535 $36,378,905 Down ×1
AGX Argan, Inc. Common Stock $71,307,321 1.68% 89,296 $19,417,426 Down ×2
CECO CECO Environmental Corp. - Common Stock $66,855,780 1.57% 736,784 $35,694,427 Up ×3
CORT Corcept Therapeutics Incorporated - Common Stock $65,066,859 1.53% 748,325 $56,780,816 Up ×1
LIVN LivaNova PLC - Ordinary Shares $64,723,315 1.52% 787,101 $22,124,958 Up ×1
SMTC Semtech Corporation - Common Stock $63,611,906 1.50% 393,030 $28,471,792 Down ×2
IDCC InterDigital, Inc. - Common Stock $63,284,368 1.49% 223,517 $31,856,738 Up ×2
ESE ESCO Technologies Inc. Common Stock $62,936,492 1.48% 179,798 $17,170,817 Up ×1
ACLS Axcelis Technologies, Inc. - Common Stock $62,607,352 1.47% 330,469 $53,649,519 Up ×1
PDFS PDF Solutions, Inc. - Common Stock $62,599,172 1.47% 884,294 $34,441,783 Up ×1
PLXS Plexus Corp. - Common Stock $62,452,767 1.47% 207,712 $28,723,376 Up ×1
COHU Cohu, Inc. - Common Stock $62,352,472 1.47% 843,627 $38,465,841 Up ×1
COGT Cogent Biosciences, Inc. - Common Stock $62,048,445 1.46% 1,603,319 $921,244 Up ×4
ALGT Allegiant Travel Company - Common Stock $55,873,171 1.32% 475,112 $28,478,977 Up ×1
LGN Legence Corp. - Class A Common stock $55,722,351 1.31% 653,788 Up ×1
MIRM Mirum Pharmaceuticals, Inc. - common stock $54,823,296 1.29% 468,295 $18,124,140 Up ×2
GH Guardant Health, Inc. - Common Stock $54,614,221 1.29% 364,022 $-23,153,652 Down ×3
MOD Modine Manufacturing Company Common Stock $54,139,373 1.27% 202,754 $-27,802,579 Down ×3
AX Axos Financial, Inc. Common Stock $52,216,817 1.23% 536,162 $9,992,436 Up ×1
SEI Solaris Energy Infrastructure, Inc. Class A Common Stock $51,543,963 1.21% 640,616 $17,938,201 Up ×1
LASR nLIGHT, Inc. - Common Stock $51,299,358 1.21% 736,848 $8,724,007 Down ×2
SYRE Spyre Therapeutics, Inc. - Common Stock $50,376,435 1.19% 567,430 $19,438,304 Down ×2
UMBF UMB Financial Corporation - Common Stock $49,350,233 1.16% 345,687 $19,185,922 Up ×1
BOOT Boot Barn Holdings, Inc. Common Stock $49,318,125 1.16% 300,226 $18,813,042 Up ×3
RSI Rush Street Interactive, Inc. Class A Common Stock $48,761,466 1.15% 1,639,592 $14,537,841 Up ×1
SXT Sensient Technologies Corporation Common Stock $48,690,550 1.15% 394,927 Up ×1
BLLN BillionToOne, Inc. - Class A common stock $45,095,443 1.06% 375,858 $26,184,419 Up ×2
AGYS Agilysys, Inc. - Common Stock $44,709,803 1.05% 427,845 $21,695,230 Up ×1
ATRO Astronics Corporation - Common Stock $41,766,340 0.98% 513,984 $11,796,162 Up ×2
TTMI TTM Technologies, Inc. - Common Stock $41,448,682 0.98% 221,627 $-31,656,942 Down ×5
COMP Compass, Inc. Class A Common Stock $40,647,275 0.96% 3,296,616 $21,213,889 Up ×3
FRPT Freshpet, Inc. - Common Stock $39,830,918 0.94% 673,730 $11,488,669 Up ×3
LTH Life Time Group Holdings, Inc. Common Stock $39,675,652 0.93% 971,490 $21,989,326 Up ×1
FA First Advantage Corporation - Common Stock $39,509,194 0.93% 2,188,875 $26,010,302 Up ×1
TEX Terex Corporation Common Stock $39,455,880 0.93% 545,046 Up ×1
CYTK Cytokinetics, Incorporated - Common Stock $39,013,272 0.92% 457,956 $25,909,639 Up ×1
IPGP IPG Photonics Corporation - Common Stock $38,328,561 0.90% 326,701 $3,388,237 Up ×3
EYE National Vision Holdings, Inc. - Common Stock $38,147,196 0.90% 2,006,691 $-771,284 Up ×1
DIOD Diodes Incorporated - Common Stock $37,808,565 0.89% 345,473 $25,449,887 Up ×1
HRI Herc Holdings Inc. Common Stock $37,433,958 0.88% 261,155 Up ×1
SYNA Synaptics Incorporated - Common Stock $37,089,115 0.87% 298,552 $13,981,798 Down ×2
MXL MaxLinear, Inc - Common Stock $35,893,211 0.84% 280,350 Up ×1
MANE Veradermics, Incorporated Common Stock $35,452,208 0.83% 288,370 $27,082,560 Up ×1
VRNS Varonis Systems, Inc. - Common Stock $35,296,458 0.83% 841,193 $16,638,577 Down ×4
PVLA Palvella Therapeutics, Inc. - Common Stock $35,070,051 0.83% 229,486 $14,939,076 Up ×1
TTI Tetra Technologies, Inc. Common Stock $35,047,984 0.82% 3,093,379 $12,371,774 Up ×1
AMSC American Superconductor Corporation - Common Stock $35,032,614 0.82% 843,956 $9,394,489 Up ×1
MC Moelis & Company Class A Common Stock $34,795,786 0.82% 531,883 $3,555,397 Down ×2
KTOS Kratos Defense & Security Solutions, Inc. - Common Stock $34,761,445 0.82% 697,181 $-24,179,909 Down ×4
OLLI Ollie's Bargain Outlet Holdings, Inc. - Common Stock $34,194,533 0.80% 444,778 $2,245,148 Up ×2
RMBS Rambus, Inc. - Common Stock $33,542,469 0.79% 252,693 $-8,890,624 Down ×4
TRVI Trevi Therapeutics, Inc. - Common Stock $33,525,445 0.79% 1,797,611 $11,579,423 Down ×2
ONTO Onto Innovation Inc. Common Stock $33,159,411 0.78% 87,619 $8,874,406 Down ×4
IMAX Imax Corporation Common Stock $33,002,685 0.78% 827,965 $726,570 Down ×2
TMDX TransMedics Group, Inc. - Common Stock $32,578,412 0.77% 490,491 $-1,498,441 Up ×1
RXO RXO, Inc. Common Stock $32,404,924 0.76% 1,174,517 $25,994,478 Up ×2
PLMR Palomar Holdings, Inc. - Common stock $31,378,466 0.74% 248,267 $-4,275,435 Down ×2
AAOI Applied Optoelectronics, Inc. - Common Stock $31,346,804 0.74% 211,574 $-5,355,274 Down ×2
BJRI BJ's Restaurants, Inc. - Common Stock $31,191,917 0.73% 513,574 $12,553,852 Down ×4
TBBK The Bancorp, Inc. - Common Stock $29,943,486 0.70% 478,025 $3,543,788 Down ×4
HNGE Hinge Health, Inc. Class A Common Stock $29,768,365 0.70% 358,655 $19,014,367 Up ×1
AVAV AeroVironment, Inc. - Common Stock $29,115,542 0.69% 176,383 $-3,810,394 Down ×4
CVLT Commvault Systems, Inc. - Common Stock $28,127,594 0.66% 198,459 $12,772,282 Up ×6
MTRN Materion Corporation $27,600,171 0.65% 92,808 Up ×1
QBTS D-Wave Quantum Inc. Common Shares $27,535,122 0.65% 1,147,775 $19,738,146 Up ×1
ARLO Arlo Technologies, Inc. Common Stock $27,251,775 0.64% 2,021,645 $-1,477,585 Up ×1
NKTR Nektar Therapeutics - Common Stock $27,236,930 0.64% 390,158 $-1,154,828 Down ×1
CUBI Customers Bancorp, Inc Common Stock $26,471,606 0.62% 334,660 $2,649,469 Down ×1
AXSM Axsome Therapeutics, Inc. - Common Stock $25,514,090 0.60% 104,237 $7,325,848 Down ×4
BOBS Bob's Discount Furniture, Inc. Common Stock $25,423,816 0.60% 1,607,068 $9,619,478 Up ×1
Unknown issuer (CUSIP: 724078209) $25,330,502 0.60% 350,159 $-2,271,744 Down ×1
PI Impinj, Inc. - Common Stock $25,320,199 0.60% 176,780 $6,668,338 Down ×1
NPKI NPK International Inc. Common Stock $25,035,928 0.59% 1,573,597 Up ×1
LC LendingClub Corporation Common Stock $24,758,520 0.58% 1,193,757 $11,475,345 Up ×3
EVLV Evolv Technologies Holdings, Inc. - Class A Common Stock $24,518,549 0.58% 4,227,336 $-1,696,434 Down ×1
MIR Mirion Technologies, Inc. Class A Common Stock $24,470,505 0.58% 1,364,780 $-1,212,956 Down ×1
DNTH Dianthus Therapeutics, Inc. - Common Stock $24,156,031 0.57% 247,805 Up ×1
OSW OneSpaWorld Holdings Limited - Common Shares $24,064,942 0.57% 852,158 $3,756,992 Down ×4
RDNT RadNet, Inc. - Common Stock $22,848,057 0.54% 370,489 $1,511,267 Down ×4
POWI Power Integrations, Inc. - Common Stock $22,141,286 0.52% 264,342 $16,199,833 Up ×1
SKWD Skyward Specialty Insurance Group, Inc. - Common Stock $21,809,013 0.51% 373,762 $-5,618,008 Down ×6
SBCF Seacoast Banking Corporation of Florida - Common Stock $21,744,303 0.51% 653,964 $6,467,148 Up ×2
AMBQ Ambiq Micro, Inc. Common Stock $21,515,531 0.51% 243,664 Up ×1
HIMS Hims & Hers Health, Inc. Class A Common Stock $21,097,007 0.50% 608,509
ARHS Arhaus, Inc. - Class A Common Stock $19,997,988 0.47% 2,375,058 $7,544,999 Up ×1
FWRG First Watch Restaurant Group, Inc. - Common Stock $19,679,924 0.46% 1,526,759 $9,754,211 Up ×1
SVRA Savara, Inc. - Common Stock $19,394,384 0.46% 3,148,439 $987,168 Down ×4
EE Excelerate Energy, Inc. Class A Common Stock $18,435,027 0.43% 485,260 $7,885,503 Up ×1
ATEC Alphatec Holdings, Inc. - Common Stock $18,203,501 0.43% 2,104,451 $-1,459,999 Up ×2
Unknown issuer (CUSIP: 010911105) $17,532,187 0.41% 647,183 Up ×1
CCB Coastal Financial Corporation - Common Stock $16,767,971 0.39% 216,333 $-63,979 Down ×1
VC Visteon Corporation - Common Stock $16,113,589 0.38% 162,419 $6,045,752 Up ×1
EVER EverQuote, Inc. - Class A Common Stock $15,509,224 0.37% 651,922 $4,849,902 Down ×2
QTWO Q2 Holdings, Inc. Common Stock $15,335,386 0.36% 318,823 $171,952 Down ×4
LPTH LightPath Technologies, Inc. - Class A Common Stock $15,324,168 0.36% 937,258 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
AIR $74,597,883 1.76% up ×4
VSEC $73,840,232 1.74% up ×3
CECO $66,855,780 1.57% up ×3
COGT $62,048,445 1.46% up ×4
BOOT $49,318,125 1.16% up ×3
COMP $40,647,275 0.96% up ×3
FRPT $39,830,918 0.94% up ×3
IPGP $38,328,561 0.90% up ×3
CVLT $28,127,594 0.66% up ×6
LC $24,758,520 0.58% up ×3
TTWO $3,053,006 0.07% up ×6
FICO $1,043,043 0.02% up ×6
FULT $101,661 0.00% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
LGN $55,722,351 653,788 1.31%
SXT $48,690,550 394,927 1.15%
TEX $39,455,880 545,046 0.93%
HRI $37,433,958 261,155 0.88%
MXL $35,893,211 280,350 0.84%
MTRN $27,600,171 92,808 0.65%
NPKI $25,035,928 1,573,597 0.59%
DNTH $24,156,031 247,805 0.57%
AMBQ $21,515,531 243,664 0.51%
HIMS $21,097,007 608,509 0.50%
Unknown issuer (CUSIP: 010911105) $17,532,187 647,183 0.41%
LPTH $15,324,168 937,258 0.36%
Unknown issuer (CUSIP: 96524T101) $11,609,592 417,311 0.27%
Unknown issuer (CUSIP: 00835T107) $11,250,686 538,568 0.26%
DAVE $10,057,322 26,993 0.24%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
CDNL Bought more +269K +$56.9M
TVTX Bought more +44K +$44.7M
COHU Bought more +64K +$38.5M
KLIC Trimmed -17K +$36.4M
CECO Bought more +214K +$35.7M
MRCY Bought more +43K +$34.7M
PDFS Bought more +23K +$34.4M
IDCC Bought more +119K +$31.9M
TTMI Trimmed -529K -$31.7M
PLXS Bought more +41K +$28.7M

6 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
BBIO June 30, 2026 515,361 $38,270,708 -9.7%
VITL March 31, 2026 1,162,022 $37,114,983 -35.8%
BPMC June 30, 2025 401,644 $35,549,510 No longer tracked
SPXC June 30, 2026 147,250 $29,441,165 -29.4%
PIPR March 31, 2026 82,407 $27,994,482 -14.6%
KALV June 30, 2026 1,264,023 $25,444,783 No longer tracked
SITM June 30, 2026 65,762 $22,710,907 -4.8%
NSSC Dec. 31, 2025 466,165 $20,021,787 -13.3%
MMSI March 31, 2026 226,514 $19,964,944 23.9%
LIF Dec. 31, 2025 170,529 $18,127,233 -32.8%
GTLS Sept. 30, 2025 108,998 $17,946,521 No longer tracked
MTSI Dec. 31, 2025 143,085 $17,812,652 87.8%
FORM Sept. 30, 2025 473,983 $16,309,755 309.5%
IONQ June 30, 2026 447,729 $12,908,027 -17.8%
CADE Dec. 31, 2025 342,322 $12,850,768 No longer tracked
SOC Dec. 31, 2025 587,376 $10,255,585 -61.1%
AKRO Dec. 31, 2025 206,771 $9,817,487 No longer tracked
SLNO June 30, 2026 274,138 $9,178,140 No longer tracked
MARA Sept. 30, 2025 579,571 $9,087,673 -38.5%
HIMS March 31, 2026 267,325 $8,680,043 39.7%
NEO June 30, 2025 855,688 $8,120,479 152.7%
ETNB Dec. 31, 2025 535,147 $7,866,661 No longer tracked
SKYT June 30, 2026 286,767 $7,860,283 No longer tracked
CVRX June 30, 2025 590,850 $7,226,096 -73.6%
ABCB Dec. 31, 2025 89,189 $6,538,446 9.7%
BOW Dec. 31, 2025 221,958 $6,001,744 18.3%
BWIN Dec. 31, 2025 195,520 $5,515,619 32.2%
SPT Sept. 30, 2025 248,529 $5,196,741 -21.9%
STC June 30, 2025 70,507 $5,030,674 -20.8%
RARE March 31, 2026 212,358 $4,884,234 -27.4%
OMDA Dec. 31, 2025 182,407 $4,033,019 29.1%
BYRN June 30, 2026 432,626 $3,971,507 -48.1%
FLOC Sept. 30, 2025 216,313 $3,852,535 24.3%
UTZ March 31, 2026 360,650 $3,743,547 80.2%
IBP June 30, 2025 13,476 $2,310,595 7.0%
VRT June 30, 2026 7,216 $1,808,185 -24.7%
CBLL Dec. 31, 2025 122,944 $1,412,627 8.0%
APP June 30, 2025 4,993 $1,322,995 -23.4%
SRPT June 30, 2025 19,830 $1,265,551 2.3%
FOUR June 30, 2026 24,044 $1,051,444 -25.6%
LOAR Sept. 30, 2025 11,582 $998,021 -22.9%
KRRO Dec. 31, 2025 16,469 $788,700 20.3%
AII June 30, 2026 39,127 $754,369 38.4%
NCLH June 30, 2026 38,940 $728,178 -28.3%
CWAN March 31, 2026 27,720 $668,606 No longer tracked
ACAD June 30, 2026 28,637 $637,460 -21.1%
SLAB June 30, 2025 5,296 $596,171 51.2%
ROKU June 30, 2026 6,219 $588,442 10.3%
TSLA June 30, 2026 1,511 $561,714 -11.9%
UEC Dec. 31, 2025 41,089 $548,127 No longer tracked
ALAB March 31, 2026 3,162 $526,030 219.6%
WTTR June 30, 2025 49,148 $516,054 130.9%
ENVA June 30, 2026 3,507 $476,356 -28.2%
BKR Dec. 31, 2025 9,618 $468,589 23.0%
LNWO June 30, 2025 5,327 $461,371 No longer tracked
APP June 30, 2026 1,139 $453,322 -47.9%
PAL March 31, 2026 45,025 $434,041 -47.5%
ASML June 30, 2025 650 $430,710 133.0%
EXAS March 31, 2026 4,224 $428,989 No longer tracked
PLTR June 30, 2026 2,893 $423,188 61.8%
WAL March 31, 2026 4,921 $413,708 7.8%
VEEV June 30, 2026 2,233 $392,249 54.0%
ZVIA March 31, 2026 166,403 $386,055 3.4%
U June 30, 2025 19,516 $382,318 80.2%
LNTH June 30, 2025 3,767 $367,659 22.1%
GLNG Dec. 31, 2025 9,083 $367,044 32.2%
ZS June 30, 2026 2,603 $365,175 39.3%
PINS March 31, 2026 13,709 $354,926 5.0%
PLNT June 30, 2026 4,655 $346,239 -18.7%
SPGI June 30, 2026 764 $324,960 0.3%
STE June 30, 2026 1,404 $310,467 -1.0%
NU June 30, 2026 20,752 $298,206 0.5%
TSCO June 30, 2026 6,558 $297,077 -1.6%
ORRF Sept. 30, 2025 9,193 $292,613 22.6%
TENB June 30, 2026 16,950 $286,709 -0.1%
DUOL Dec. 31, 2025 875 $281,610 -17.8%
TDW June 30, 2025 6,478 $273,825 78.7%
FANG March 31, 2026 1,718 $258,267 -6.6%
CHDN Dec. 31, 2025 2,470 $239,615 -33.2%
S June 30, 2025 13,043 $237,122 37.1%
AMBA Sept. 30, 2025 3,558 $235,059 -16.8%
SN June 30, 2025 2,814 $234,716 84.4%
PWR June 30, 2026 426 $233,883 -6.0%
TER June 30, 2025 2,814 $232,436 399.4%
ONB Dec. 31, 2025 10,309 $226,283 11.9%
MSCI June 30, 2026 404 $217,760 -4.3%
CFLT Dec. 31, 2025 10,493 $207,761 No longer tracked
NP June 30, 2026 8,555 $206,945 -12.9%
KNSL June 30, 2026 572 $195,430 0.0%
CSGP June 30, 2026 4,808 $193,955 -3.3%
ESTC June 30, 2025 2,144 $191,030 11.4%
FCNCA June 30, 2026 95 $179,043 -0.4%
MEG June 30, 2025 12,371 $176,410 No longer tracked
OCUL June 30, 2026 20,768 $175,905 -29.1%
QTRX June 30, 2025 25,542 $166,278 -45.3%
TXRH June 30, 2026 1,005 $165,966 -19.2%
IMVT June 30, 2025 9,246 $158,014 110.1%
CRK June 30, 2025 7,755 $157,737 -53.8%
JACK June 30, 2025 5,663 $153,977 -28.7%
NWFL June 30, 2026 4,500 $132,390 4.8%
HNGE Sept. 30, 2025 2,093 $108,313 99.0%
NTNX June 30, 2026 2,532 $96,241 41.9%
AMGN March 31, 2026 266 $87,135 14.5%
TTD June 30, 2026 3,276 $74,332 -33.9%
TRNO Sept. 30, 2025 1,066 $59,771 13.7%
ARIS Sept. 30, 2025 1,964 $46,449 78.6%
BUSE June 30, 2026 1,309 $33,078 0.8%
ADBE Sept. 30, 2025 79 $30,564 -32.6%
XPRO June 30, 2025 2,682 $26,659 89.8%
IWO Dec. 31, 2025 71 $22,723
AMT June 30, 2026 118 $20,364 -0.8%
NVCR Dec. 31, 2025 1,311 $16,938 15.5%
PTLO Dec. 31, 2025 2,576 $16,615 -22.7%
NOG June 30, 2025 531 $16,052 -15.9%
INR Dec. 31, 2025 909 $11,917 -12.4%
FWRD (filed as FWRDXXXX) June 30, 2025 585 $11,753 -35.2%
CCOI March 31, 2026 371 $7,999 -55.1%
GDRX Sept. 30, 2025 305 $1,519 -22.5%
TIGO Sept. 30, 2025 22 $824 82.0%