Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +39.2%
S&P 500 total return (same window) +37.0%
Excess return +2.2%

Annualized: +30.3% · 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: 98.2% · Options excluded: 0.0%

Sector breakdown

04
Industrials 28.5%
Technology 21.2%
Health Care 16.6%
Consumer Discretionary 12.7%
Financials 5.8%
Communication Services 4.6%
Retail 2.9%
Real Estate 2.8%
Materials 1.5%
Consumer products 0.4%
Utilities 0.2%
Other/Unmapped 2.7%

Full portfolio 145 positions

05
Type Streak 8Q trend
MU Micron Technology, Inc. - Common Stock $13,851,480 4.87% 12,000 $6,756,840 Down ×3
SWIM Latham Group, Inc. - Common Stock $8,896,781 3.13% 1,375,082 $2,156,991 Up ×3
SSYS Stratasys, Ltd. - Common Stock $7,361,600 2.59% 860,000 $1,113,600 Up ×3
COMP Compass, Inc. Class A Common Stock $6,008,409 2.11% 487,300 $1,861,446 Down ×1
ALHC Alignment Healthcare, Inc. - Common Stock $5,270,272 1.85% 221,347 $1,055,427 Down ×3
CECO CECO Environmental Corp. - Common Stock $5,005,128 1.76% 55,159 $1,290,672 Down ×3
JHX James Hardie Industries plc. Ordinary Shares $4,968,048 1.75% 189,765 $482,298 Down ×3
XPO XPO, Inc. Common Stock $4,721,670 1.66% 23,000 $247,020
KVYO Klaviyo, Inc. Series A Common Stock $4,530,000 1.59% 300,000 $1,611,000 Up ×1
ORN Orion Group Holdings, Inc. Common $4,316,567 1.52% 256,633 $1,071,681 Down ×3
CALX Calix, Inc Common Stock $4,291,800 1.51% 115,000 $2,430,180 Up ×2
EQPT EquipmentShare.com Inc - Class A Common Stock $4,217,522 1.48% 214,523 $1,427,850 Up ×1
FOXF Fox Factory Holding Corp. - Common Stock $4,108,180 1.44% 242,442 $-487,551 Down ×1
RYAAY Ryanair Holdings plc - American Depositary Shares, each representing five Ordinary Shares $4,039,623 1.42% 62,388 $433,597
U Unity Software Inc. Common Stock $4,001,200 1.41% 140,000 $1,149,000 Up ×2
PACK Ranpak Holdings Corp Class A Common Stock $3,816,222 1.34% 522,055 $1,336,761 Down ×3
PANW Palo Alto Networks, Inc. - Common Stock $3,732,805 1.31% 10,946 $1,977,942
MOD Modine Manufacturing Company Common Stock $3,615,451 1.27% 13,540 $429,814 Down ×1
BTSG BrightSpring Health Services, Inc. - Common Stock $3,510,991 1.23% 50,344 $542,011 Down ×3
ICLR ICON plc - Ordinary Shares $3,246,987 1.14% 18,692 $2,472,367 Up ×1
RBA RB Global, Inc. Common Stock $3,214,486 1.13% 27,604 $558,674 Down ×3
LIND Lindblad Expeditions Holdings Inc. - Common Stock $3,148,506 1.11% 111,491 $2,186,782 Up ×1
CVSA Covista Inc. Common Shares $3,140,933 1.10% 25,196 $224,647 Down ×3
UA Under Armour, Inc. Class C Common Stock $3,110,000 1.09% 500,000 $794,000 Up ×1
HQY HealthEquity, Inc. - Common Stock $3,108,543 1.09% 34,417 $221,032 Down ×3
SAH Sonic Automotive, Inc. Common Stock $3,035,482 1.07% 35,800 $580,676
LAW CS Disco, Inc. Common Stock $3,024,000 1.06% 800,000 $-32,000
FN Fabrinet Ordinary Shares $3,018,370 1.06% 5,370 $-319,358 Down ×1
AIR AAR Corp. Common Stock $2,985,808 1.05% 20,890 $689,994 Down ×1
AX Axos Financial, Inc. Common Stock $2,982,471 1.05% 30,624 $376,675
GH Guardant Health, Inc. - Common Stock $2,895,579 1.02% 19,300 Up ×1
UTHR United Therapeutics Corporation - Common Stock $2,890,121 1.02% 5,334 $-285,880 Down ×5
LULU lululemon athletica inc. - Common Stock $2,854,500 1.00% 25,000 $-207,500 Up ×2
MEC Mayville Engineering Company, Inc. Common Stock $2,809,500 0.99% 75,000 $1,014,500 Down ×1
LNTH Lantheus Holdings, Inc. - Common Stock $2,788,033 0.98% 25,131 $1,574,433 Up ×1
BILL BILL Holdings, Inc. Common Stock $2,712,000 0.95% 75,000 $-160,500
NOK Nokia Corporation Sponsored American Depositary Shares $2,656,000 0.93% 200,000 $-1,163,000 Down ×1
EVH Evolent Health, Inc Class A Common Stock $2,628,700 0.92% 485,000 $2,138,500 Up ×1
CPA Copa Holdings, S.A. Class A Common Stock $2,411,335 0.85% 15,500 $650,380
NSP Insperity, Inc. Common Stock $2,342,277 0.82% 56,700 $538,709 Down ×1
RH RH Common Stock $2,306,220 0.81% 14,000 $488,560 Up ×1
AGYS Agilysys, Inc. - Common Stock $2,299,000 0.81% 22,000 $1,445,320 Up ×1
CDNA CareDx, Inc. - Common Stock $2,223,741 0.78% 78,026 $861,363 Down ×3
FCFS FirstCash Holdings, Inc. - Common Stock $2,163,200 0.76% 10,000 $283,200
SSNC SS&C Technologies Holdings, Inc. - Common Stock $2,154,686 0.76% 34,725 $-191,682
TPC Tutor Perini Corporation Common Stock $2,039,900 0.72% 24,586 $-195,677 Down ×4
JBHT J.B. Hunt Transport Services, Inc. - Common Stock $2,026,010 0.71% 7,000 $542,710
MDB MongoDB, Inc. - Class A Common Stock $2,015,400 0.71% 6,000 $-187,530 Down ×1
HCA HCA Healthcare, Inc. Common Stock $1,949,450 0.69% 5,000 $-416,750
GPN Global Payments Inc. Common Stock $1,941,633 0.68% 26,759 $1,082,952 Up ×1
LAUR Laureate Education, Inc. - Common Stock $1,924,125 0.68% 52,977 $71,438 Down ×3
BBW Build-A-Bear Workshop, Inc. Common Stock $1,917,472 0.67% 62,642 $601,404 Up ×1
UBER Uber Technologies, Inc. Common Stock $1,912,240 0.67% 26,500 $6,095
ARLO Arlo Technologies, Inc. Common Stock $1,887,200 0.66% 140,000 $-105,000
TWLO Twilio Inc. Class A Common Stock $1,856,970 0.65% 9,000 $512,206 Down ×1
NXT Nextpower Inc. - Class A Common Stock $1,844,406 0.65% 15,481 $-398,186 Down ×3
PODD Insulet Corporation - Common Stock $1,825,630 0.64% 11,991 $-698,535 Down ×6
GXO GXO Logistics, Inc. Common Stock $1,723,800 0.61% 34,000 $-39,100
ABNB Airbnb, Inc. - Class A Common Stock $1,717,200 0.60% 12,000 $454,400 Up ×2
MANE Veradermics, Incorporated Common Stock $1,711,694 0.60% 13,923 $827,594 Down ×1
UCTT Ultra Clean Holdings, Inc. - Common Stock $1,696,821 0.60% 11,900 Up ×1
FPS Forgent Power Solutions, Inc. Class A Common Stock $1,694,513 0.60% 30,335 $-730,565 Down ×1
GENI Genius Sports Limited Ordinary Shares $1,667,633 0.59% 275,187 $443,380 Down ×6
CWST Casella Waste Systems, Inc. - Class A Common Stock $1,653,629 0.58% 17,053 $300,644
ECG Everus Construction Group, Inc. Common Stock $1,651,368 0.58% 9,951 Up ×1
TBCH Turtle Beach Corporation - Common Stock $1,636,254 0.58% 131,426 $1,077,793 Up ×1
APO Apollo Global Management, Inc. (New) Common Stock $1,632,678 0.57% 13,800 $685,608 Up ×1
TOI The Oncology Institute, Inc. - Common Stock $1,629,000 0.57% 300,000 Up ×1
KEX Kirby Corporation Common Stock $1,596,968 0.56% 11,745 $36,292
PROF Profound Medical Corp. - common stock $1,596,585 0.56% 240,088 $34,011 Down ×1
VCYT Veracyte, Inc. - Common Stock $1,585,710 0.56% 27,000 $716,040
LBTYK Liberty Global Ltd. - Class C Common Shares $1,569,722 0.55% 142,702 $-104,172
EXFY Expensify, Inc. - Class A Common Stock $1,566,250 0.55% 875,000 $792,039 Down ×3
LFST LifeStance Health Group, Inc. - Common Stock $1,552,950 0.55% 145,000 Up ×1
TATT TAT Technologies Ltd. - Ordinary Shares $1,485,532 0.52% 30,801 $234,087
HOMB Home BancShares, Inc. Common Stock $1,482,088 0.52% 51,912 $84,098
LITE Lumentum Holdings Inc. - Common Stock $1,458,702 0.51% 1,700 Up ×1
FSLR First Solar, Inc. - Common Stock $1,432,749 0.50% 6,072 $230,647 Down ×2
GDYN Grid Dynamics Holdings, Inc. - Class A Common Stock $1,430,769 0.50% 251,896 $-10,995 Down ×2
TEAM Atlassian Corporation - Class A Common Stock $1,400,220 0.49% 18,000 $171,720
NOW ServiceNow, Inc. Common Stock $1,389,920 0.49% 14,000
PI Impinj, Inc. - Common Stock $1,360,685 0.48% 9,500 Up ×1
SIMO Silicon Motion Technology Corporation - American Depositary Shares, each representing four ordinary shares $1,266,654 0.45% 3,800 Up ×1
PLNT Planet Fitness, Inc. Common Stock $1,252,080 0.44% 24,000 Up ×1
Unknown issuer (CUSIP: 00835T107) $1,232,510 0.43% 59,000 Up ×1
EXPE Expedia Group, Inc. - Common Stock $1,217,989 0.43% 4,760 $511,466 Up ×2
PD PagerDuty, Inc. Common Stock $1,206,250 0.42% 125,000 $585,250 Up ×1
TCNNF CUSIP: 89788C104 $1,179,600 0.41% 120,000 Up ×1
AEYE AudioEye, Inc. - Common Stock $1,162,000 0.41% 200,000 $-112,000
TSAT Telesat Corporation - Class A Common Shares and Class B Variable Voting Shares $1,157,831 0.41% 22,873 Up ×1
WEX WEX Inc. common stock $1,156,938 0.41% 8,200 $-97,990
CMPR Cimpress plc - Ordinary Shares $1,149,210 0.40% 11,300 $324,310
VCEL Vericel Corporation - Common Stock $1,148,910 0.40% 25,824 $318,152
VCTR Victory Capital Holdings, Inc. - Common Stock $1,128,590 0.40% 13,426 $249,456
TTEK Tetra Tech, Inc. - Common Stock $1,128,155 0.40% 39,050 $-48,031
KOPN Kopin Corporation - Common Stock $1,120,000 0.39% 250,000 Up ×1
LKQ LKQ Corporation - Common Stock $1,113,759 0.39% 42,300 $-128,592
PSTL Postal Realty Trust, Inc. Class A Common Stock $1,108,800 0.39% 45,000 $811,840 Up ×1
SNDK Sandisk Corporation - Common Stock $1,091,390 0.38% 480 Up ×1
TNDM Tandem Diabetes Care, Inc. - Common Stock $1,060,887 0.37% 70,304 $-296,886 Down ×3

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
SWIM $8,896,781 3.13% up ×3
SSYS $7,361,600 2.59% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
GH $2,895,579 19,300 1.02%
UCTT $1,696,821 11,900 0.60%
ECG $1,651,368 9,951 0.58%
TOI $1,629,000 300,000 0.57%
LFST $1,552,950 145,000 0.55%
LITE $1,458,702 1,700 0.51%
NOW $1,389,920 14,000 0.49%
PI $1,360,685 9,500 0.48%
SIMO $1,266,654 3,800 0.45%
PLNT $1,252,080 24,000 0.44%
Unknown issuer (CUSIP: 00835T107) $1,232,510 59,000 0.43%
TCNNF $1,179,600 120,000 0.41%
TSAT $1,157,831 22,873 0.41%
KOPN $1,120,000 250,000 0.39%
SNDK $1,091,390 480 0.38%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MU Trimmed -9K +$6.8M
ICLR Bought more +12K +$2.5M
CALX Bought more +77K +$2.4M
LIND Bought more +56K +$2.2M
SWIM Bought more +120K +$2.2M
PANW Price move only +0 +$2.0M
COMP Trimmed -80K +$1.9M
KVYO Bought more +150K +$1.6M
LNTH Bought more +9K +$1.6M
AGYS Bought more +10K +$1.4M

1 position 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
JHX (filed as JHXXXXX) Sept. 30, 2025 220,140 $5,919,565 30.1%
CPRI March 31, 2026 163,376 $3,986,374 -18.0%
MNDY March 31, 2026 20,000 $2,951,200 14.0%
CCL Dec. 31, 2025 95,323 $2,755,788 -15.7%
MMSI Sept. 30, 2025 27,981 $2,615,664 2.6%
PHR Dec. 31, 2025 109,534 $2,576,240 -40.5%
NTRA March 31, 2026 11,018 $2,524,114 105.2%
UTI Sept. 30, 2025 71,302 $2,416,425 -40.5%
LLY June 30, 2025 2,663 $2,199,398 46.6%
LNTH Sept. 30, 2025 26,069 $2,134,008 94.9%
CWAN March 31, 2026 87,883 $2,119,738 No longer tracked
BKSY Sept. 30, 2025 98,477 $2,026,657 8.8%
TTD March 31, 2026 50,000 $1,898,000 -47.3%
NAVN June 30, 2026 140,000 $1,853,600 -6.3%
ARCB June 30, 2026 18,838 $1,852,906 -7.6%
TPR Sept. 30, 2025 20,718 $1,819,248 4.3%
PHLT Sept. 30, 2025 452,500 $1,810,000 No longer tracked
AR June 30, 2025 44,000 $1,779,360 -15.4%
AB Sept. 30, 2025 43,090 $1,759,365 -8.4%
SHOO March 31, 2026 42,224 $1,758,207 35.5%
TDOC June 30, 2025 219,353 $1,746,050 -36.6%
OWLT March 31, 2026 105,000 $1,699,950 -1.6%
SKYT Dec. 31, 2025 90,000 $1,679,400 No longer tracked
ASAN March 31, 2026 120,000 $1,645,200 34.7%
SNBR Dec. 31, 2025 231,793 $1,627,187 No longer tracked
DNN Sept. 30, 2025 868,725 $1,581,080 No longer tracked
PRO Sept. 30, 2025 100,000 $1,566,000 No longer tracked
NOW March 31, 2026 10,000 $1,531,900 28.5%
WGS March 31, 2026 11,684 $1,519,621 13.8%
UNH Sept. 30, 2025 4,827 $1,505,879 7.7%
KIDS Dec. 31, 2025 81,000 $1,500,930 24.8%
INSM June 30, 2026 9,000 $1,471,680 4.2%
ARES Sept. 30, 2025 8,353 $1,446,740 -26.5%
AR March 31, 2026 41,000 $1,412,860 -19.7%
WIX Dec. 31, 2025 7,750 $1,376,633 -30.1%
ALL June 30, 2025 6,598 $1,366,248 11.1%
NVEE Sept. 30, 2025 59,000 $1,362,310 No longer tracked
DENN Dec. 31, 2025 258,885 $1,353,969 No longer tracked
CCJ Sept. 30, 2025 18,119 $1,344,973 1.6%
HIMX Sept. 30, 2025 149,093 $1,331,400 72.6%
WDAY June 30, 2026 10,000 $1,299,200 52.1%
PAGS Dec. 31, 2025 128,820 $1,288,200 -6.4%
PEN March 31, 2026 4,100 $1,274,731 -3.3%
SNREY Sept. 30, 2025 22,540 $1,274,637 No longer tracked
WAL Dec. 31, 2025 13,933 $1,208,270 -9.1%
VST Sept. 30, 2025 6,220 $1,205,498 -28.5%
ORLA June 30, 2026 74,000 $1,193,620 No longer tracked
VFC March 31, 2026 65,721 $1,188,236 -15.7%
LULU Sept. 30, 2025 5,000 $1,187,900 -46.9%
FOUR Dec. 31, 2025 15,326 $1,186,232 -42.6%
RVLV Dec. 31, 2025 55,000 $1,171,500 -31.3%
PRDO June 30, 2025 46,125 $1,161,428 -2.4%
M Dec. 31, 2025 64,000 $1,147,520 3.1%
CSTL June 30, 2026 46,000 $1,129,300 49.1%
ROAD June 30, 2026 10,000 $1,111,200 -23.3%
AGX March 31, 2026 3,540 $1,109,153 -29.5%
LEVI Dec. 31, 2025 47,285 $1,101,741 -4.2%
GO Sept. 30, 2025 87,256 $1,083,720 -27.6%
UDMY Dec. 31, 2025 152,000 $1,065,520 No longer tracked
CTLP June 30, 2025 135,095 $1,063,198 No longer tracked
DG Dec. 31, 2025 10,100 $1,043,835 -10.4%
ONON June 30, 2026 30,000 $1,020,600 -12.9%
CVLT March 31, 2026 8,000 $1,002,880 92.9%
BELFB Dec. 31, 2025 7,000 $987,140 52.1%
F June 30, 2025 97,598 $978,908 11.5%
CWH June 30, 2025 60,000 $969,600 -70.7%
XPOF Dec. 31, 2025 124,193 $967,463 -42.9%
APPS June 30, 2025 350,000 $950,250 89.3%
AEM June 30, 2025 8,600 $932,326 54.5%
RDDT June 30, 2025 8,500 $891,650 -1.8%
FIG March 31, 2026 23,000 $859,510 1.0%
FOR Dec. 31, 2025 32,000 $850,880 4.5%
NRDS June 30, 2025 93,298 $844,347 -21.3%
ANF June 30, 2025 11,000 $840,070 64.0%
INTC Dec. 31, 2025 25,000 $838,750 223.4%
EYE June 30, 2026 31,300 $810,670 -13.7%
GTLB June 30, 2025 17,000 $799,000 10.4%
SMWB Sept. 30, 2025 100,000 $784,000 -14.4%
AAOI June 30, 2025 50,000 $767,500 349.9%
RMNI Sept. 30, 2025 200,000 $754,000 -9.4%
ARDT Dec. 31, 2025 56,099 $743,312 17.1%
HUBS June 30, 2026 3,000 $732,300 17.5%
HYMC June 30, 2026 20,000 $704,000 -20.0%
W Dec. 31, 2025 7,783 $695,255 0.8%
SEMR Sept. 30, 2025 75,000 $678,750 No longer tracked
TRI June 30, 2026 7,300 $656,854 19.5%
ANF March 31, 2026 5,200 $654,524 48.7%
TGT June 30, 2026 5,300 $642,360 19.4%
OKTA June 30, 2026 8,000 $629,680 55.0%
RXST March 31, 2026 60,000 $625,200 -24.0%
GLOB June 30, 2026 12,900 $594,819 21.3%
ESOA June 30, 2026 42,689 $560,507 -43.1%
LEA Sept. 30, 2025 5,777 $548,699 20.1%
UWMC March 31, 2026 125,000 $547,500 -65.2%
HLIO March 31, 2026 10,010 $535,435 10.8%
FARO June 30, 2025 19,500 $532,350 No longer tracked
DDD June 30, 2025 250,000 $530,000 145.5%
PCOR March 31, 2026 6,700 $487,358 -10.6%
PINS June 30, 2025 15,000 $465,000 -46.3%
KLC Dec. 31, 2025 69,667 $462,589 -56.9%
ALNT Dec. 31, 2025 10,000 $447,500 120.1%
HLLY June 30, 2026 138,520 $425,256 -8.2%
KVYO Dec. 31, 2025 15,000 $415,350 -51.6%
BIRK March 31, 2026 10,000 $409,000 -7.0%
VITL June 30, 2026 28,000 $395,360 -22.1%
BRBR Dec. 31, 2025 10,659 $387,455 -72.2%
MTN June 30, 2026 3,000 $384,960 3.7%
CNTY Dec. 31, 2025 136,647 $356,649 -21.8%
IMXI June 30, 2026 22,058 $348,516 -20.3%
SVV June 30, 2026 45,257 $336,712 -8.3%
DECK June 30, 2025 2,700 $301,887 -23.2%
BANC June 30, 2026 17,000 $298,860 -13.2%
LESL June 30, 2025 404,879 $297,789 -98.3%
HOLX June 30, 2025 4,810 $297,114 No longer tracked
SJM Sept. 30, 2025 2,981 $292,734 7.9%
SOC March 31, 2026 26,968 $243,251 -78.8%
TLSI June 30, 2026 50,000 $200,000 -5.1%
PLMR Sept. 30, 2025 1,254 $193,430 8.3%
STAA June 30, 2025 10,200 $179,826 33.9%