Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +67.9%
S&P 500 total return (same window) +37.0%
Excess return +30.9%

Annualized: +51.4% · 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: 98.6% · Options excluded: 0.0%

Sector breakdown

04
Materials 29.7%
Industrials 23.0%
Communication Services 11.6%
Retail 8.2%
Consumer Discretionary 7.5%
Healthcare 6.8%
Technology 4.6%
Financials 3.3%
Utilities 2.5%
Real Estate 1.3%
Energy 0.1%
Consumer Staples 0.1%
Other/Unmapped 1.4%

Full portfolio 68 positions

05
Type Streak 8Q trend
HBM Hudbay Minerals Inc. Ordinary Shares (Canada) $431,536,950 22.49% 18,281,369 $-25,693,107 Down ×4
DAL Delta Air Lines, Inc. Common Stock $305,762,436 15.93% 3,264,600 $11,714,748 Down ×4
JAZZ Jazz Pharmaceuticals plc - Ordinary Shares $109,279,895 5.69% 453,500 $-558,155 Down ×3
UAL United Airlines Holdings, Inc. - Common Stock $98,837,532 5.15% 726,800 $9,649,323 Down ×1
GOOG Alphabet Inc. - Class C Capital Stock $86,848,515 4.53% 245,800 $3,458,312 Down ×6
BBWI Bath & Body Works, Inc. $80,897,175 4.22% 3,497,500 $2,968,595 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $80,100,912 4.17% 224,140 $13,317,978 Down ×1
ERO Ero Copper Corp. Common Shares $75,541,248 3.94% 2,830,054 $-21,505,465 Down ×4
TNL Travel Leisure Co. Common Stock $65,671,790 3.42% 859,241 $-19,074,959 Down ×6
AMZN Amazon.com, Inc. - Common Stock $64,780,812 3.38% 271,800 $8,422,950 Up ×1
FIS Fidelity National Information Services, Inc. Common Stock $57,981,744 3.02% 1,491,300 $-8,058,154 Up ×1
AGI Alamos Gold Inc. Class A Common Shares $55,045,304 2.87% 1,816,175 $-31,680,744 Down ×6
VST Vistra Corp. Common Stock $47,462,096 2.47% 299,200 $21,169,379 Up ×1
MSFT Microsoft Corporation - Common Stock $47,336,238 2.47% 126,900 $4,951,773 Up ×1
OMC Omnicom Group Inc. Common Stock $42,314,230 2.20% 581,000 $-5,078,353 Down ×1
VAC Marriott Vacations Worldwide Corporation Common Stock $42,183,414 2.20% 414,050 $-24,463,650 Down ×1
SSNC SS&C Technologies Holdings, Inc. - Common Stock $29,661,141 1.55% 478,020 $-18,010,845 Down ×1
CBRL Cracker Barrel Old Country Store, Inc. - Common Stock $29,059,160 1.51% 545,200 $-15,655,417 Down ×3
RYN Rayonier Inc. REIT Common Stock $25,240,208 1.32% 1,186,100 $-24,336,458 Down ×1
EQX CUSIP: 29446Y502 $20,603,484 1.07% 2,119,700 $4,542,762 Up ×1
FSLY Fastly, Inc. - Class A Common Stock $10,993,968 0.57% 598,800 $-6,407,160
TDUP ThredUp Inc. - Class A Common Stock $8,810,470 0.46% 1,286,200 $6,509,222 Up ×1
RIOT Riot Platforms, Inc. - Common Stock $8,449,468 0.44% 308,600 $4,635,172
ODV Osisko Development Corp. Common Shares $7,909,719 0.41% 3,215,333 $-2,254,981 Up ×1
CLOV Clover Health Investments, Corp. - Class A Common stock $6,839,248 0.36% 1,305,200 $4,542,096
KD Kyndryl Holdings, Inc. Common Stock $6,312,111 0.33% 558,100 $-32,272,497 Down ×1
OCGN Ocugen, Inc. - Common Stock $5,363,259 0.28% 3,505,398 $-981,511
EA Electronic Arts Inc. - Common Stock $4,781,533 0.25% 23,320 $27,285
ORLA CUSIP: 68634K106 $4,665,914 0.24% 476,600 Up ×1
CIEN Ciena Corporation Common Stock $4,616,170 0.24% 9,410 $962,926
AMSC American Superconductor Corporation - Common Stock $4,485,820 0.23% 108,066 $827,786
UA Under Armour, Inc. Class C Common Stock $3,843,326 0.20% 617,898 $265,697
PGEN Precigen, Inc. - Common Stock $3,812,331 0.20% 668,830 $1,223,959
AMC AMC Entertainment Holdings, Inc. Class A Common Stock $3,450,687 0.18% 1,816,151 $1,670,859
TSM Taiwan Semiconductor Manufacturing Company Ltd. $3,342,990 0.17% 7,000 $977,340
UAA Under Armour, Inc. Class A Common Stock $2,784,634 0.15% 435,780 $209,174
BSX Boston Scientific Corporation Common Stock $2,757,128 0.14% 64,600 Up ×1
SMCI Super Micro Computer, Inc. - Common Stock $2,718,891 0.14% 92,700 $608,112
EVGO EVgo Inc. - Common Stock $2,630,242 0.14% 1,377,090 Up ×1
RUN Sunrun Inc. - Common Stock $2,246,502 0.12% 167,900 $-30,222
U Unity Software Inc. Common Stock $2,089,198 0.11% 73,100 $485,384
KODK Eastman Kodak Company Common New $1,850,000 0.10% 200,000 $40,000
MRVL Marvell Technology, Inc. - Common Stock $1,668,184 0.09% 5,600 $1,113,504
CLNE Clean Energy Fuels Corp. - Common Stock $1,573,904 0.08% 767,758 $-330,136
UPST Upstart Holdings, Inc. - Common stock $1,488,060 0.08% 42,000 $410,760
BYND Beyond Meat, Inc. - Common stock $1,480,875 0.08% 1,974,500 $95,566
TBBK The Bancorp, Inc. - Common Stock $1,465,776 0.08% 23,400 Up ×1
OBE CUSIP: 674482203 $1,463,465 0.08% 180,008 $-241,211
ROOT Root, Inc. - Common Stock $1,168,728 0.06% 20,900 Up ×1
MARA MARA Holdings, Inc. - Common Stock $1,163,982 0.06% 83,800 $929,790 Up ×1
CINT CI&T Inc Class A Common Shares $962,287 0.05% 288,110 $-5,187,932 Down ×1
GLOB Globant S.A. Common Shares $891,352 0.05% 30,800 $-30,592,556 Down ×1
XPEV XPeng Inc. American depositary shares, each representing two Class A ordinary shares $687,156 0.04% 51,900 Up ×1
CHPT ChargePoint Holdings, Inc. Common Stock $598,624 0.03% 101,290 $106,355
SAVA Cassava Sciences, Inc. - Common Stock $535,619 0.03% 450,100 $-225,050
TD Toronto Dominion Bank (The) Common Stock $480,863 0.03% 3,960 $111,355
OM Outset Medical, Inc. - Common Stock $423,827 0.02% 98,108 $260,930 Up ×1
KTOS Kratos Defense & Security Solutions, Inc. - Common Stock $396,287 0.02% 7,948 $-164,126
PTON Peloton Interactive, Inc. - Common Stock $364,056 0.02% 61,600 Up ×1
GOTU Gaotu Techedu Inc. American Depositary Shares $295,314 0.02% 177,900 $-53,370
STXS CUSIP: 85916J409 $217,719 0.01% 126,581 $-15,190
TDW Tidewater Inc. Common Stock $209,218 0.01% 3,140 $-53,129
SENS Senseonics Holdings, Inc. - Common Stock $207,138 0.01% 36,468 $-35,739
INO Inovio Pharmaceuticals, Inc. - Common Stock $138,731 0.01% 126,119 $-80,716
CGC Canopy Growth Corporation - Common Shares $131,536 0.01% 138,459 $111
NNOX NANO-X IMAGING LTD - Ordinary Shares $110,026 0.01% 94,850 $-105,284
AWRE Aware, Inc. - Common Stock $33,210 0.00% 24,600 $2,460
CAN Canaan Inc. - American Depositary Shares $28,251 0.00% 98,400 $-14,238

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ORLA $4,665,914 476,600 0.24%
BSX $2,757,128 64,600 0.14%
EVGO $2,630,242 1,377,090 0.14%
TBBK $1,465,776 23,400 0.08%
ROOT $1,168,728 20,900 0.06%
XPEV $687,156 51,900 0.04%
PTON $364,056 61,600 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
AGI Trimmed -139K -$31.7M
HBM Trimmed -3.6M -$25.7M
VAC Trimmed -609K -$24.5M
RYN Trimmed -1.2M -$24.3M
ERO Trimmed -823K -$21.5M
VST Bought more +124K +$21.2M
TNL Trimmed -366K -$19.1M
SSNC Trimmed -228K -$18.0M
CBRL Trimmed -1.0M -$15.7M
GOOGL Trimmed -8K +$13.3M

2 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
RPRX June 30, 2025 2,377,500 $74,011,575 58.6%
VRN June 30, 2025 7,152,756 $47,312,306 No longer tracked
LNTH June 30, 2025 236,900 $23,121,440 22.1%
RBLX Dec. 31, 2025 150,400 $20,833,408 -45.6%
MGM June 30, 2026 525,700 $19,456,157 -36.2%
CMPS June 30, 2026 3,078,536 $17,024,304 -15.9%
TFX June 30, 2026 134,600 $16,099,506 -2.1%
BDX Sept. 30, 2025 90,500 $15,588,625 20.2%
QS Dec. 31, 2025 1,163,500 $14,334,320 -56.1%
ITUB June 30, 2026 1,706,130 $14,297,369 5.1%
WCC Sept. 30, 2025 65,800 $12,186,160 80.5%
GPN June 30, 2025 108,200 $10,594,944 -2.1%
OVV June 30, 2026 169,865 $10,052,775 14.6%
ITRG Sept. 30, 2025 6,515,503 $9,836,523 No longer tracked
COF June 30, 2026 50,800 $9,267,444 -2.9%
RRX March 31, 2026 64,333 $9,027,207 -14.6%
CFLT Dec. 31, 2025 425,100 $8,416,980 No longer tracked
SIG Sept. 30, 2025 101,800 $8,098,190 4.9%
TRIP June 30, 2025 570,300 $8,081,151 -34.8%
BIDU March 31, 2026 60,127 $7,856,194 -24.3%
UBER June 30, 2026 102,400 $7,365,632 -5.6%
OCGN Dec. 31, 2025 4,153,798 $6,770,691 -24.4%
AMSC Dec. 31, 2025 108,066 $6,418,040 4.3%
NTR June 30, 2025 127,200 $6,318,024 20.3%
RHI June 30, 2026 243,800 $6,192,520 17.7%
AMC Dec. 31, 2025 1,816,151 $5,266,838 77.6%
FSLY Dec. 31, 2025 598,800 $5,119,740 153.5%
SMCI Sept. 30, 2025 92,700 $4,543,227 -8.9%
BABA March 31, 2026 30,800 $4,514,664 -15.6%
C June 30, 2026 36,500 $4,139,465 -8.2%
ESTA Dec. 31, 2025 98,766 $4,048,418 -12.1%
CLOV Dec. 31, 2025 1,305,200 $3,993,912 86.4%
MOS June 30, 2026 154,700 $3,944,850 -0.6%
ORCL June 30, 2026 26,500 $3,898,415 -2.9%
TRVI June 30, 2026 317,700 $3,790,161 -25.4%
SNOW Dec. 31, 2025 15,700 $3,541,135 55.5%
AKAM Dec. 31, 2025 41,500 $3,144,040 24.8%
UA Dec. 31, 2025 617,898 $2,984,447 -4.4%
U Dec. 31, 2025 73,100 $2,926,924 -1.3%
RUN Dec. 31, 2025 167,900 $2,902,991 -58.1%
BYND Dec. 31, 2025 1,445,747 $2,732,462 906.1%
SMCI (filed as SMCIXXXX) March 31, 2026 92,700 $2,713,329 91.9%
PGEN Dec. 31, 2025 668,830 $2,200,451 104.3%
UAA Dec. 31, 2025 435,780 $2,174,542 -5.2%
ETSY June 30, 2026 42,400 $2,119,152 -3.4%
CRESY March 31, 2026 164,579 $2,078,633 -10.8%
CLNE Dec. 31, 2025 767,758 $1,980,816 -25.7%
LBRT March 31, 2026 89,274 $1,647,998 -33.0%
GTE Sept. 30, 2025 300,000 $1,429,095 No longer tracked
CHPT (filed as CHPTXXXX) Sept. 30, 2025 2,025,800 $1,424,745 -14.9%
CIEN Dec. 31, 2025 9,410 $1,370,755 67.3%
SAVA Dec. 31, 2025 450,100 $1,309,791 No longer tracked
OBE Dec. 31, 2025 180,008 $1,177,252 No longer tracked
NOMD June 30, 2026 116,500 $1,119,565 -2.7%
CHPT Dec. 31, 2025 101,290 $1,106,087 39.9%
MVIS March 31, 2026 1,043,100 $863,791 131.3%
KTOS Dec. 31, 2025 7,948 $726,209 -43.3%
SPCE Dec. 31, 2025 119,193 $460,085 -5.6%
STXS Dec. 31, 2025 126,581 $393,667 No longer tracked
NNOX Dec. 31, 2025 94,850 $350,945 -77.3%
TD Dec. 31, 2025 3,960 $316,602 25.1%
INO Dec. 31, 2025 126,119 $295,118 -33.3%
SPCE June 30, 2026 119,193 $289,639 4.8%
WOLF Dec. 31, 2025 10,117 $289,347 102.6%
CGC Dec. 31, 2025 138,459 $202,150 -23.2%
WOLF June 30, 2026 10,117 $165,109 -26.9%
CAN Dec. 31, 2025 98,400 $86,749 -49.2%
AWRE Dec. 31, 2025 24,600 $59,286 -40.5%