Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +52.1%
S&P 500 total return (same window) +37.0%
Excess return +15.1%

Annualized: +39.9% · 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: 96.6% · Options excluded: 0.0%

Sector breakdown

04
Industrials 34.9%
Health Care 19.4%
Technology 10.0%
Financials 8.8%
Consumer Discretionary 5.5%
Materials 4.1%
Real Estate 3.8%
Consumer Staples 3.6%
Energy 2.9%
Retail 2.7%
Consumer products 2.2%
Utilities 1.0%
Other/Unmapped 1.1%

Full portfolio 65 positions

05
Type Streak 8Q trend
MKSI MKS Inc. - Common Stock $4,739,344 3.05% 10,655 $491,306 Down ×3
COLB Columbia Banking System, Inc. - Common Stock $4,585,233 2.95% 143,065 $660,960
ATI ATI Inc. Common Stock $4,463,330 2.87% 22,645 $689,370 Down ×2
CUZ Cousins Properties Incorporated Common Stock $4,348,329 2.80% 145,041 $1,564,297 Up ×1
BRKR Bruker Corporation - Common Stock $4,268,567 2.75% 70,930 $2,241,151 Up ×1
FHN First Horizon Corporation Common Stock $4,084,093 2.63% 159,286 $193,817 Down ×1
CON Concentra Group Holdings Parent, Inc. Common Stock $4,050,463 2.61% 136,150 $1,130,045
LYTS LSI Industries Inc. - Common Stock $3,779,915 2.43% 142,209 $1,108,881 Down ×1
SARO StandardAero, Inc. Common Stock $3,630,416 2.34% 121,378 $557,214 Up ×3
OSK Oshkosh Corporation (Holding Company)Common Stock $3,564,573 2.29% 23,225 $145,621
LNTH Lantheus Holdings, Inc. - Common Stock $3,558,179 2.29% 32,073 $1,125,442
SN SharkNinja, Inc. Ordinary Shares $3,467,188 2.23% 22,770 $1,437,085 Up ×2
EWBC East West Bancorp, Inc. - Common Stock $3,327,295 2.14% 25,775 $870,214 Up ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $3,313,381 2.13% 6,938 $667,908 Down ×1
CACI CACI International, Inc. Class A Common Stock $3,112,181 2.00% 6,718 $-541,538
VSEC VSE Corporation - Common Stock $3,111,485 2.00% 13,617 $600,510
ROCK Gibraltar Industries, Inc. - Common Stock $3,078,842 1.98% 68,267 $548,413 Up ×4
HAE Haemonetics Corporation Common Stock $3,076,950 1.98% 41,026 $990,165 Up ×6
COO The Cooper Companies, Inc. - Common Stock $3,015,406 1.94% 42,050 $540,076 Up ×1
CECO CECO Environmental Corp. - Common Stock $2,860,488 1.84% 31,524 $568,267 Down ×4
FLS Flowserve Corporation Common Stock $2,728,643 1.76% 36,794 $-806,747 Down ×3
OPCH Option Care Health, Inc. - Common Stock $2,687,746 1.73% 128,171 $624,032 Up ×2
LMB Limbach Holdings, Inc. - Common Stock $2,663,199 1.71% 34,587 $217,346 Up ×3
BELFB Bel Fuse Inc. - Class B Common Stock $2,569,404 1.65% 7,715 $379,547 Down ×5
CMC Commercial Metals Company Common Stock $2,565,220 1.65% 40,880 $138,121 Up ×1
SM SM Energy Company Common Stock $2,500,537 1.61% 95,806 $-486,694
VMD Viemed Healthcare, Inc. - Common Shares $2,425,019 1.56% 212,721 $549,080 Up ×3
CXT Crane NXT, Co. Common Stock $2,422,938 1.56% 47,360 Up ×1
CNM Core & Main, Inc. Class A Common Stock $2,406,710 1.55% 49,880 $92,320 Up ×1
MAMA Mama's Creations, Inc. - Common Stock $2,350,916 1.51% 131,704 $-315,698 Down ×4
YUMC Yum China Holdings, Inc. Common Stock $2,303,433 1.48% 56,360 $-445,808
SYNA Synaptics Incorporated - Common Stock $2,194,274 1.41% 17,663 $880,884 Down ×1
HQY HealthEquity, Inc. - Common Stock $2,185,744 1.41% 24,200 $887,066 Up ×1
SE Sea Limited American Depositary Shares, each representing one Class A Ordinary Share $2,141,801 1.38% 22,350 $290,997
TTMI TTM Technologies, Inc. - Common Stock $2,133,898 1.37% 11,410 $229,337 Down ×1
NCLH Norwegian Cruise Line Holdings Ltd. Ordinary Shares $2,082,438 1.34% 98,647 $237,739
AVY Avery Dennison Corporation Common Stock $2,053,728 1.32% 12,650 $-130,674
IOT Samsara Inc. Class A Common Stock $2,045,393 1.32% 63,071 $46,673
CHEF The Chefs' Warehouse, Inc. - Common Stock $2,022,713 1.30% 21,048 $487,833 Down ×1
RDNT RadNet, Inc. - Common Stock $1,954,076 1.26% 31,686 $465,614 Up ×5
ST Sensata Technologies Holding plc Ordinary Shares $1,894,801 1.22% 39,690 $317,614 Down ×1
BIRK Birkenstock Holding plc Ordinary Shares $1,882,563 1.21% 43,750 $667,926 Up ×1
GVA Granite Construction Incorporated Common Stock $1,872,300 1.20% 11,844 $548,345 Up ×2
LW Lamb Weston Holdings, Inc. Common Stock $1,854,149 1.19% 42,940 $39,505
INFU CUSIP: 45685K102 $1,783,503 1.15% 184,819 $1,036,371 Up ×1
ACNT Ascent Industries Co. - Common Stock $1,702,929 1.10% 113,302 $235,315 Up ×4
MOD Modine Manufacturing Company Common Stock $1,698,514 1.09% 6,361 $-1,160,324 Down ×4
SLB SLB Limited Common Shares $1,670,944 1.08% 35,942 $-495,247 Down ×1
VYX NCR Voyix Corporation Common Stock $1,664,793 1.07% 203,769 $617,121 Up ×1
BV BrightView Holdings, Inc. Common Stock $1,650,578 1.06% 116,484 $465,895 Up ×1
BEPC Brookfield Renewable Corporation Brookfield Renewable Corporation Class A Subordinate Voting Shares $1,606,405 1.03% 43,276 $-117,278
KRC Kilroy Realty Corporation Common Stock $1,592,213 1.02% 42,493 $-131,841 Down ×1
TYL Tyler Technologies, Inc. Common Stock $1,538,340 0.99% 5,260 Up ×1
NEOG Neogen Corporation - Common Stock $1,512,603 0.97% 168,254 Up ×1
ISRG Intuitive Surgical, Inc. - Common Stock $1,358,077 0.87% 3,415 $366,948 Up ×1
VITL Vital Farms, Inc. - Common Stock $1,318,644 0.85% 113,383 $-507,594 Down ×1
ADNT Adient plc Ordinary Shares $1,304,943 0.84% 70,998 $140,220 Up ×2
ITRI Itron, Inc. - Common Stock $1,298,988 0.84% 15,012 $-46,538
IGIC International General Insurance Holdings Ltd. - Ordinary Shares $1,187,150 0.76% 45,363 $88,231
CPRT Copart, Inc. - Common Stock $1,181,358 0.76% 41,907 Up ×1
TIC TIC Solutions, Inc. Common Stock $1,120,287 0.72% 138,478 $252,530 Up ×3
EPAC Enerpac Tool Group Corp. Common Stock $1,054,212 0.68% 29,398 $-17,933
LAKE Lakeland Industries, Inc. - Common Stock $920,591 0.59% 86,117 $46,734 Down ×2
KNSL Kinsale Capital Group, Inc. Common Stock $489,768 0.32% 1,485 Up ×1
TTI Tetra Technologies, Inc. Common Stock $362,027 0.23% 31,953 $223,551 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
SARO $3,630,416 2.34% up ×3
ROCK $3,078,842 1.98% up ×4
HAE $3,076,950 1.98% up ×6
LMB $2,663,199 1.71% up ×3
VMD $2,425,019 1.56% up ×3
RDNT $1,954,076 1.26% up ×5
ACNT $1,702,929 1.10% up ×4
TIC $1,120,287 0.72% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
CXT $2,422,938 47,360 1.56%
TYL $1,538,340 5,260 0.99%
NEOG $1,512,603 168,254 0.97%
CPRT $1,181,358 41,907 0.76%
KNSL $489,768 1,485 0.32%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
BRKR Bought more +15K +$2.2M
CUZ Bought more +22K +$1.6M
SN Bought more +4K +$1.4M
MOD Trimmed -7K -$1.2M
CON Price move only +0 +$1.1M
LNTH Price move only +0 +$1.1M
LYTS Trimmed -1K +$1.1M
INFU Bought more +104K +$1.0M
HAE Bought more +4K +$990K
HQY Bought more +9K +$887K

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
WNS Dec. 31, 2025 40,323 $3,075,435 No longer tracked
KMPR Dec. 31, 2025 44,100 $2,273,355 -36.7%
THG March 31, 2026 9,704 $1,773,600 26.6%
HAS March 31, 2026 19,490 $1,598,180 -4.3%
CIVI March 31, 2026 55,080 $1,492,117 No longer tracked
CRI June 30, 2025 36,260 $1,483,034 4.8%
NOMD June 30, 2026 141,590 $1,360,680 -2.7%
HI Dec. 31, 2025 48,815 $1,319,958 No longer tracked
IART Dec. 31, 2025 92,105 $1,319,865 2.1%
NOG March 31, 2026 60,830 $1,306,020 -18.5%
CTLP March 31, 2026 117,739 $1,250,388 No longer tracked
HAIN June 30, 2025 172,434 $715,601 -65.8%
PCOR June 30, 2026 8,236 $469,452 25.4%
ARIS Dec. 31, 2025 18,283 $450,859 7.8%
MEC Sept. 30, 2025 28,233 $450,599 19.5%