Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +31.1%
S&P 500 total return (same window) +37.0%
Excess return -5.9%

Annualized: +24.2% · 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
Healthcare 46.1%
Technology 14.6%
Industrials 10.6%
Retail 5.0%
Consumer Discretionary 4.9%
Real Estate 4.9%
Communication Services 4.1%
Energy 3.8%
Materials 1.9%
Financials 0.4%
Consumer Staples 0.2%
Other/Unmapped 3.4%

Full portfolio 83 positions

05
Type Streak 8Q trend
CDNA CareDx, Inc. - Common Stock $50,465,960 9.73% 1,770,735 $19,879,820 Up ×1
WGS GeneDx Holdings Corp. - Class A Common Stock $36,031,982 6.94% 524,865 $16,563,753 Up ×2
ENSG The Ensign Group, Inc. - Common Stock $27,877,933 5.37% 173,911 $-8,325,774 Down ×6
AMRC Ameresco, Inc. Class A Common Stock $22,813,111 4.40% 826,562 $1,391,504 Down ×1
GNRC Generac Holdlings Inc. Common Stock $21,424,908 4.13% 73,170 $6,792,152 Down ×3
EPD Enterprise Products Partners L.P. Common Stock $18,768,774 3.62% 510,576 $-690,711 Down ×3
QDEL QuidelOrtho Corporation - Common Stock $18,046,948 3.48% 1,030,371 $11,420,318 Up ×4
CAKE The Cheesecake Factory Incorporated - Common Stock $17,641,336 3.40% 221,792 $5,319,958 Down ×5
EQIX Equinix, Inc. - Common Stock $17,428,761 3.36% 16,720 $812,713 Down ×4
KMX CarMax Inc $17,210,935 3.32% 325,410 $4,333,651 Up ×1
FRSH Freshworks Inc. - Class A Common Stock $15,826,324 3.05% 1,563,866 $1,923,447 Down ×1
PCRX Pacira BioSciences, Inc. - Common Stock $15,440,613 2.98% 608,617 $1,484,887 Down ×1
FIVN Five9, Inc. - Common Stock $15,407,921 2.97% 722,698 $5,971,210 Up ×1
HNGE Hinge Health, Inc. Class A Common Stock $15,185,597 2.93% 182,959 $10,394,517 Up ×1
BLFS BioLife Solutions, Inc. - Common Stock $15,133,985 2.92% 535,906 $4,897,336 Down ×1
PROF Profound Medical Corp. - common stock $13,034,492 2.51% 1,960,074 $435,273 Up ×3
CARG CarGurus, Inc. - Class A Common Stock $12,513,519 2.41% 367,073 $3,268,127 Up ×2
TMCI Treace Medical Concepts, Inc. - Common Stock $12,057,581 2.32% 3,029,543 $5,087,054 Down ×1
Unknown issuer (CUSIP: 000000000) $11,697,619 2.25% 765,179 Up ×1
ISRG Intuitive Surgical, Inc. - Common Stock $11,589,991 2.23% 29,144 $-2,986,057 Down ×6
BL BlackLine, Inc. - Common Stock $10,547,836 2.03% 375,769 $-419,852 Up ×6
ASPN Aspen Aerogels, Inc. Common Stock $9,737,048 1.88% 1,535,812 $3,369,518 Down ×1
PRLB Proto Labs, Inc. Common stock $9,478,227 1.83% 116,283 $3,155,336 Up ×1
VERX Vertex, Inc. - Class A Common Stock $8,736,578 1.68% 761,026 $3,169,442 Up ×2
AMPL Amplitude, Inc. - Class A Common Stock $8,074,636 1.56% 1,055,508 $846,554 Down ×1
HZO MarineMax, Inc. (FL) Common Stock $7,744,398 1.49% 211,480 $1,774,691 Down ×2
OSUR OraSure Technologies, Inc. - Common Stock $7,100,976 1.37% 1,592,147 $1,957,803 Down ×1
DV DoubleVerify Holdings, Inc. Common Stock $5,672,876 1.09% 523,328 $1,032,487 Up ×1
CELC Celcuity Inc. - Common Stock $5,569,969 1.07% 53,240 $-518,487 Down ×5
CMG Chipotle Mexican Grill, Inc. Common Stock $5,285,742 1.02% 155,463 $232,996 Down ×1
CTRE CareTrust REIT, Inc. Common Stock $5,243,684 1.01% 129,955 $367,548 Down ×6
PNTG The Pennant Group, Inc. - Common Stock $4,989,543 0.96% 135,035 $799,031 Down ×6
WCPRF CUSIP: 96467A200 $4,517,373 0.87% 435,100 $-381,099 Down ×4
ICUI ICU Medical, Inc. - Common Stock $4,310,040 0.83% 29,400 $468,732 Down ×1
KLTR Kaltura, Inc. - Common Stock $4,247,099 0.82% 3,266,999 $246,797 Down ×1
MCHP Microchip Technology Incorporated - Common Stock $2,392,102 0.46% 26,229 $658,087 Down ×2
GNTX Gentex Corporation - Common Stock $1,444,419 0.28% 57,159 $200,424 Up ×3
GNL Global Net Lease, Inc. Common Stock $1,435,746 0.28% 160,598 $-156,624 Down ×3
SLG SL Green Realty Corp Common Stock $1,338,876 0.26% 25,862 $383,534
SAM Boston Beer Company, Inc. (The) Common Stock $1,289,309 0.25% 7,283 $-378,557 Up ×2
NCNO nCino, Inc. - Common Stock $1,231,695 0.24% 75,333 $40,485 Down ×1
FLG Flagstar Bank, N.A. Common Stock $1,112,372 0.21% 74,456 $128,428 Down ×4
APPS Digital Turbine, Inc. - Common Stock $1,055,723 0.20% 81,839 $820,027
WEAV Weave Communications, Inc. Common Stock $998,703 0.19% 157,170 $840,607 Up ×1
DOCU DocuSign, Inc. - Common Stock $928,645 0.18% 20,906 $-77,964 Down ×1
CNF CNFinance Holdings Limited American Depositary Shares, each representing two hundred (200) Ordinary Shares $920,596 0.18% 332,345 $-306,902 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $913,438 0.18% 2,556 $178,435
MRVL Marvell Technology, Inc. - Common Stock $870,734 0.17% 2,923 $194,717 Down ×1
TECH Bio-Techne Corp - Common Stock $864,050 0.17% 12,230 $347,773 Up ×2
DVN Devon Energy Corporation Common Stock $785,948 0.15% 19,021 $-173,453 Down ×5
MU Micron Technology, Inc. - Common Stock $783,763 0.15% 679 $419,909 Down ×1
NTDOY CUSIP: 654445303 $740,674 0.14% 70,675 $-255,296 Up ×1
CGNX Cognex Corporation - Common Stock $709,571 0.14% 9,798 $230,449 Up ×2
NVDA NVIDIA Corporation - Common Stock $699,915 0.13% 3,498 $62,483 Down ×4
CVLT Commvault Systems, Inc. - Common Stock $690,792 0.13% 4,874 $349,945 Up ×3
GOOG Alphabet Inc. - Class C Capital Stock $681,574 0.13% 1,929 $126,787 Down ×2
ONTO Onto Innovation Inc. Common Stock $646,771 0.12% 1,709 $187,004 Down ×1
T AT&T Inc. $639,589 0.12% 30,898 $-290,816 Down ×3
HIMX Himax Technologies, Inc. - American depositary shares, each of which represents two ordinary shares. $605,899 0.12% 39,498 $253,535 Down ×4
PFE Pfizer, Inc. Common Stock $562,172 0.11% 23,346 $-680,649 Down ×2
LTH Life Time Group Holdings, Inc. Common Stock $549,911 0.11% 13,465 $184,874 Down ×1
MTSI MACOM Technology Solutions Holdings, Inc. - Common Stock $487,254 0.09% 1,281 $-327,743 Down ×1
VIAV Viavi Solutions Inc. - Common Stock $476,832 0.09% 9,986 $-6,094 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $472,600 0.09% 839 $-7,417
SHOP Shopify Inc. - Class A Subordinate Voting Shares $459,346 0.09% 4,023 $-7,068 Up ×2
ETSY Etsy, Inc. - Common Stock $433,524 0.08% 5,755 $144,989 Down ×1
SBUX Starbucks Corporation - Common Stock $413,359 0.08% 4,045 $48,638 Down ×4
MRK Merck & Company, Inc. Common Stock (new) $409,530 0.08% 3,187 $25,564 Down ×4
Unknown issuer (CUSIP: 15713J104) $389,504 0.08% 33,350 $-50,447
AKAM Akamai Technologies, Inc. - Common Stock $373,898 0.07% 3,163 $41,292 Up ×2
WRBY Warby Parker Inc. Class A Common Stock $345,300 0.07% 11,381 Up ×1
RNG RingCentral, Inc. Class A Common Stock $331,993 0.06% 8,517 $18,779 Up ×4
VCEL Vericel Corporation - Common Stock $324,910 0.06% 7,303
Unknown issuer (CUSIP: 08862EAB5) $285,953 0.06% 381,271 Up ×1
PL Planet Labs PBC Class A Common Stock $276,702 0.05% 8,352 $43,264
ELVA Electrovaya Inc. - Common Shares $276,224 0.05% 26,307 $70,894 Up ×1
RNTX Rein Therapeutics, Inc. - Common Stock $238,233 0.05% 229,070 $-73,143 Down ×2
RMBS Rambus, Inc. - Common Stock $236,012 0.05% 1,778 $1,838 Down ×1
BX Blackstone Inc. Common Stock $228,280 0.04% 1,940 $5,199
MSFT Microsoft Corporation - Common Stock $207,399 0.04% 556 $5,656 Up ×3
ATNM CUSIP: 00507W206 $178,499 0.03% 182,142 $-21,855 Down ×4
PTEN Patterson-UTI Energy, Inc. - Common Stock $159,916 0.03% 17,420 $-3,247,700 Down ×2
RDHL Redhill Biopharma Ltd. - American Depositary Shares $74,702 0.01% 88,405 $8,823

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
QDEL $18,046,948 3.48% up ×4
PROF $13,034,492 2.51% up ×3
BL $10,547,836 2.03% up ×6
GNTX $1,444,419 0.28% up ×3
CVLT $690,792 0.13% up ×3
RNG $331,993 0.06% up ×4
MSFT $207,399 0.04% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 000000000) $11,697,619 765,179 2.25%
WRBY $345,300 11,381 0.07%
VCEL $324,910 7,303 0.06%
Unknown issuer (CUSIP: 08862EAB5) $285,953 381,271 0.06%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
CDNA Bought more +9K +$19.9M
WGS Bought more +222K +$16.6M
QDEL Bought more +627K +$11.4M
HNGE Bought more +59K +$10.4M
ENSG Trimmed -6K -$8.3M
GNRC Trimmed -2K +$6.8M
FIVN Bought more +101K +$6.0M
CAKE Trimmed -3K +$5.3M
TMCI Trimmed -2.2M +$5.1M
BLFS Trimmed -606 +$4.9M

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
AL March 31, 2026 496,957 $31,919,548 No longer tracked
NVGS June 30, 2026 886,631 $17,138,577 27.3%
EXAS March 31, 2026 167,414 $17,002,566 No longer tracked
SGOV June 30, 2026 92,702 $9,331,383 0.0%
ETWO June 30, 2025 3,820,311 $7,640,622 No longer tracked
VRN June 30, 2025 1,124,330 $7,443,065 No longer tracked
PSIX Dec. 31, 2025 64,770 $6,361,709 -21.5%
AOSL June 30, 2026 167,874 $3,720,088 -38.7%
MXCT June 30, 2025 1,048,318 $2,861,908 -50.5%
TPR March 31, 2026 21,447 $2,740,323 -17.1%
IONQ June 30, 2025 111,348 $2,457,450 0.0%
XOM March 31, 2026 7,180 $864,041 -3.3%
BLZE Dec. 31, 2025 55,393 $514,047 197.9%
TTD Sept. 30, 2025 6,512 $468,799 -75.6%
GAMB June 30, 2026 109,697 $425,624 No longer tracked
SHOO Sept. 30, 2025 17,583 $421,640 36.4%
PYPL March 31, 2026 6,596 $385,074 20.3%
QSR June 30, 2025 5,658 $377,049 5.4%
EOG June 30, 2025 2,423 $310,734 20.5%
BX June 30, 2025 1,973 $275,786 -25.4%
EOG June 30, 2026 1,851 $267,599 11.1%
DRRX Sept. 30, 2025 403,884 $256,547 No longer tracked
MBLY Sept. 30, 2025 13,892 $249,778 -46.3%
WBA Sept. 30, 2025 20,184 $231,712 No longer tracked
AKAM Sept. 30, 2025 2,535 $202,192 42.5%
ONTO June 30, 2025 1,547 $187,713 222.4%
SVV June 30, 2026 25,148 $187,101 -8.9%
DHX Sept. 30, 2025 56,401 $167,511 73.0%
WBD Sept. 30, 2025 14,576 $167,041 58.5%
WFC June 30, 2025 1,925 $138,196 1.6%
VCEL June 30, 2025 3,062 $136,626 -3.5%
PETS March 31, 2026 42,328 $135,450 -42.1%
GDRX March 31, 2026 44,118 $119,560 71.4%
GAP June 30, 2025 5,668 $116,817 6.8%
YEXT Sept. 30, 2025 12,944 $110,024 -22.3%
LAB June 30, 2025 24,677 $26,651 -36.4%