Sector breakdown

04
Industrials 24.3%
Technology 15.8%
Financials 12.6%
Healthcare 8.7%
Communication Services 6.4%
Retail 4.1%
Energy 3.0%
Real Estate 2.1%
Consumer Discretionary 1.7%
Consumer Staples 1.0%
Consumer products 0.4%
Utilities 0.3%
Other/Unmapped 19.6%

Full portfolio 82 positions

05
Type Streak 8Q trend
FLEX Flex Ltd. - Ordinary Shares $21,167,483 5.70% 130,607 $12,177,204 Down ×5
GOOGL Alphabet Inc. - Class A Common Stock $19,059,020 5.13% 53,331 $3,820,263 Up ×1
AAPL Apple Inc. - Common Stock $15,642,528 4.21% 54,059 $1,623,161 Down ×4
IEMG iShares, Inc. $12,161,249 3.27% 146,804 $2,041,763 Up ×1
GLD SPDR Gold Shares $12,129,901 3.26% 32,928 $-1,782,100 Up ×1
ASML ASML Holding N.V. - New York Registry Shares $9,941,232 2.68% 4,997 $3,261,795 Down ×3
AMZN Amazon.com, Inc. - Common Stock $9,890,595 2.66% 41,498 $1,170,988 Down ×1
AVGO Broadcom Inc. - Common Stock $9,745,950 2.62% 25,800 $1,724,689 Down ×1
SHY iShares 1-3 Year Treasury Bond ETF $9,572,967 2.58% 116,587 $223,351 Up ×4
IEF iShares 7-10 Year Treasury Bond ETF $9,324,378 2.51% 98,598 $70,395 Up ×2
URI United Rentals, Inc. Common Stock $9,253,640 2.49% 8,168 $3,269,132 Down ×1
BN Brookfield Corporation Class A Limited Voting Shares $8,838,350 2.38% 207,522 $472,657 Up ×3
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $8,786,521 2.36% 17,559 $771,735 Up ×1
RTX RTX Corporation Common Stock $8,568,948 2.31% 45,164 $-14,675 Up ×1
MSFT Microsoft Corporation - Common Stock $8,554,377 2.30% 22,933 $-54,565 Down ×1
GE GE Aerospace Common Stock $8,267,311 2.23% 22,121 $2,046,775 Up ×1
VGK Vanguard FTSEEuropean ETF $8,092,881 2.18% 91,404 $615,263 Up ×1
GEV GE Vernova Inc. Common Stock $7,683,291 2.07% 6,540 $1,922,369 Down ×2
JNJ Johnson & Johnson Common Stock $7,607,445 2.05% 29,954 $402,578 Up ×1
SNPS Synopsys, Inc. - Common Stock $7,500,226 2.02% 16,814 $798,123 Down ×1
TMO Thermo Fisher Scientific Inc Common Stock $7,346,007 1.98% 14,652 $187,781 Up ×3
IJR iShares Trust $7,049,174 1.90% 47,530 $1,112,377 Down ×1
ADP Automatic Data Processing, Inc. - Common Stock $6,767,292 1.82% 30,218 $664,633 Up ×5
BLK BlackRock, Inc. Common Stock $6,521,828 1.76% 6,783 $21,102 Up ×3
V Visa Inc. $6,395,529 1.72% 18,641 $777,811 Up ×3
JPM JP Morgan Chase & Co. Common Stock $5,929,642 1.60% 18,115 $600,894
NOW ServiceNow, Inc. Common Stock $5,909,741 1.59% 59,526 $1,563,807 Up ×1
BA Boeing Company (The) Common Stock $5,895,069 1.59% 27,233 $531,264 Up ×1
WMB Williams Companies, Inc. (The) Common Stock $5,761,131 1.55% 77,497 $-5,205 Down ×5
WWD Woodward, Inc. - Common Stock $5,671,126 1.53% 13,330 $878,571 Down ×4
UBER Uber Technologies, Inc. Common Stock $5,571,618 1.50% 77,212 $181,831 Up ×3
SBUX Starbucks Corporation - Common Stock $5,418,132 1.46% 53,020 $706,867 Up ×3
ABT Abbott Laboratories Common Stock $5,383,540 1.45% 59,329 $-546,064 Up ×3
BAC Bank of America Corporation Common Stock $5,365,601 1.44% 94,166 $763,744 Down ×1
PLD Prologis, Inc. Common Stock $5,261,565 1.42% 38,839 $162,569 Up ×5
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF $5,085,229 1.37% 97,028 $170,799 Up ×5
QXO QXO, Inc. Common Stock $5,062,556 1.36% 292,972 $1,059,861 Up ×3
CNQ Canadian Natural Resources Limited Common Stock $4,882,635 1.31% 123,611 $-1,101,653 Up ×1
WAT Waters Corporation Common Stock $4,784,760 1.29% 12,758 $1,073,576 Up ×3
DIS Walt Disney Company (The) Common Stock $4,631,955 1.25% 48,124 $16,586 Up ×3
OTIS Otis Worldwide Corporation Common Stock $4,375,993 1.18% 61,117 $-308,001 Up ×5
BDX Becton, Dickinson and Company Common Stock $4,298,211 1.16% 28,403 $-120,545 Up ×5
PEP PepsiCo, Inc. - Common Stock $3,874,074 1.04% 28,612 $-440,953 Up ×5
FISV Fiserv, Inc. - Common Stock $3,127,380 0.84% 63,759 $-356,662 Up ×5
SPY SPY $3,016,951 0.81% 4,040 $405,836 Up ×3
COST Costco Wholesale Corporation - Common Stock $2,778,195 0.75% 2,970 $-333,495 Down ×2
NXRT NexPoint Residential Trust, Inc. Common Stock $2,180,042 0.59% 78,082 $258,419 Up ×5
MUB iShares Trust $1,669,940 0.45% 15,517 $375,228 Up ×4
WMT Walmart Inc. - Common Stock $1,406,633 0.38% 12,420 $-136,862
MRK Merck & Company, Inc. Common Stock (new) $1,291,040 0.35% 10,047 $82,486
IEFA iShares Core MSCI EAFE ETF $1,175,958 0.32% 12,176 $65,879 Down ×2
HD Home Depot, Inc. (The) Common Stock $1,148,326 0.31% 3,256 $77,460
MRSH Marsh Common Stock $1,008,854 0.27% 6,053 $-41,039
LLY Eli Lilly and Company Common Stock $981,134 0.26% 818 $228,762
ITW Illinois Tool Works Inc. Common Stock $978,831 0.26% 3,619 $36,841
DUK Duke Energy Corporation (Holding Company) Common Stock $940,363 0.25% 7,429 $-32,390
PG Procter & Gamble Company (The) Common Stock $870,341 0.23% 5,935 $13,058
CMI Cummins Inc. Common Stock $843,014 0.23% 1,182 $207,074
IJH iShares Trust $779,351 0.21% 10,107 $84,332 Down ×2
CB Chubb Limited Common Stock $718,961 0.19% 2,110 $31,249
LRCX Lam Research Corporation - Common Stock $630,062 0.17% 1,454 $314,059 Down ×3
IYR iShares U.S. Real Estate ETF $531,700 0.14% 5,200 $36,206 Down ×1
MCD McDonald's Corporation Common Stock $488,450 0.13% 1,807 $-73,148
BMY Bristol-Myers Squibb Company Common Stock $473,464 0.13% 8,217 $-24,897
UTG CUSIP: 756158101 $461,195 0.12% 11,326 $15,681 Down ×1
KMI Kinder Morgan, Inc. Common Stock $396,172 0.11% 12,392 $-21,310 Down ×5
IVV iShares Trust $374,445 0.10% 500 $15,179 Down ×2
ACN Accenture plc Class A Ordinary Shares (Ireland) $369,960 0.10% 2,973 $-219,556
WEC WEC Energy Group, Inc. Common Stock $348,091 0.09% 2,981 $2,981
KMB Kimberly-Clark Corporation - Common Stock $335,018 0.09% 3,052 $40,592
MDT Medtronic plc. Ordinary Shares $317,692 0.09% 4,061 $-34,194
NVDA NVIDIA Corporation - Common Stock $315,942 0.09% 1,579 $36,204 Down ×1
Unknown issuer (CUSIP: 43849R105) $303,764 0.08% 1,374 Up ×1
CALI iShares Short-Term California Muni Active ETF $303,210 0.08% 6,000 $630
Unknown issuer (CUSIP: 438516205) $302,041 0.08% 1,349 Up ×1
TM Toyota Motor Corporation Common Stock $287,325 0.08% 1,706 $-64,265
EQR Equity Residential Common Shares of Beneficial Interest $285,034 0.08% 4,196 $36,841
XLU XLU $258,529 0.07% 5,702 $-13,874 Down ×1
GBTC Grayscale Bitcoin Trust (BTC) $227,600 0.06% 5,000 $-36,200
UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) $225,811 0.06% 3,756 $11,433 Down ×2
F Ford Motor Company Common Stock $175,835 0.05% 12,650 $28,700 Down ×2
OBDC Blue Owl Capital Corporation Common Stock $172,985 0.05% 15,914 $-3,267 Down ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
SHY $9,572,967 2.58% up ×4
BN $8,838,350 2.38% up ×3
TMO $7,346,007 1.98% up ×3
ADP $6,767,292 1.82% up ×5
BLK $6,521,828 1.76% up ×3
V $6,395,529 1.72% up ×3
UBER $5,571,618 1.50% up ×3
SBUX $5,418,132 1.46% up ×3
ABT $5,383,540 1.45% up ×3
PLD $5,261,565 1.42% up ×5
IGSB $5,085,229 1.37% up ×5
QXO $5,062,556 1.36% up ×3
WAT $4,784,760 1.29% up ×3
DIS $4,631,955 1.25% up ×3
OTIS $4,375,993 1.18% up ×5

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 43849R105) $303,764 1,374 0.08%
Unknown issuer (CUSIP: 438516205) $302,041 1,349 0.08%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
FLEX Trimmed -7K +$12.2M
GOOGL Bought more +338 +$3.8M
URI Trimmed -46 +$3.3M
ASML Trimmed -60 +$3.3M
GE Bought more +200 +$2.0M
IEMG Bought more +2K +$2.0M
GEV Trimmed -60 +$1.9M
GLD Bought more +596 -$1.8M
AVGO Trimmed -116 +$1.7M
AAPL Trimmed -1K +$1.6M

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
LNG June 30, 2025 23,689 $5,481,548 12.9%
KMX Sept. 30, 2025 57,036 $3,833,391 22.3%
NXT March 31, 2026 31,974 $2,785,255 -31.2%
DEO March 31, 2026 24,633 $2,125,076 12.8%
CMCSA Sept. 30, 2025 56,498 $2,016,406 -31.3%
HON June 30, 2026 2,699 $610,055 -4.4%
UL (filed as ULXXXX) Dec. 31, 2025 4,471 $265,041 -8.3%
PLTR Dec. 31, 2025 1,400 $255,388 6.6%
ORCL Dec. 31, 2025 865 $243,273 -26.9%
IBIT June 30, 2026 5,900 $226,678
XOM June 30, 2026 1,324 $224,630 20.0%
OKLO Dec. 31, 2025 2,000 $223,260 -49.9%
FLOT Sept. 30, 2025 4,000 $204,080
SYK June 30, 2025 520 $193,570 -27.9%
QQQ June 30, 2025 400 $187,568 35.0%
TFLO June 30, 2025 3,112 $157,654
ISRG June 30, 2025 270 $133,723 -25.2%
MET June 30, 2025 1,600 $128,464 20.5%
IBM June 30, 2025 500 $124,330 -24.8%
PLTR June 30, 2025 1,400 $118,160 38.9%
META June 30, 2025 200 $115,272 0.5%
NCDL June 30, 2025 6,747 $114,564 -32.4%
SOXX June 30, 2025 575 $108,198 147.0%
BA June 30, 2025 624 $106,377 -8.0%
ITOT June 30, 2025 853 $104,075 24.6%
MDY June 30, 2025 165 $88,024
NEE June 30, 2025 1,175 $83,296 9.9%
DKNG June 30, 2025 2,475 $82,195 -54.3%
SPG June 30, 2025 435 $72,245 25.3%
VTI June 30, 2025 213 $58,541 25.2%
DVN June 30, 2025 1,555 $58,157 50.8%
HSY June 30, 2025 325 $55,585 -3.0%
PFE June 30, 2025 1,800 $45,612 13.1%
GOOG June 30, 2025 280 $43,744 93.8%
DGRO June 30, 2025 702 $43,339
OKLO June 30, 2025 2,000 $43,260 -35.8%
SLB June 30, 2025 1,007 $42,095 48.8%
ETN June 30, 2025 150 $40,775 21.2%
CARR June 30, 2025 600 $38,040 -23.9%
TTWO June 30, 2025 180 $37,305 -16.2%
VIG June 30, 2025 192 $37,246
BTC June 30, 2025 1,000 $36,490 -20.6%
TSLA June 30, 2025 140 $36,282 19.2%
TSM June 30, 2025 200 $33,200 114.5%
PAAS June 30, 2025 1,275 $32,933 59.6%
XOM June 30, 2025 247 $29,376 52.1%
UPS June 30, 2025 240 $26,398 -7.7%
CCL June 30, 2025 1,350 $26,366 -9.1%
NOW June 30, 2025 33 $26,273 -33.8%
PHYS June 30, 2025 1,000 $24,060
WM June 30, 2025 100 $23,151 -9.7%
CVX June 30, 2025 137 $22,919 44.2%
BP June 30, 2025 636 $21,490 49.1%
SLV June 30, 2025 665 $20,608 68.0%
MSI June 30, 2025 44 $19,264 8.3%
ANIP June 30, 2025 277 $18,545 11.2%
EL June 30, 2025 272 $17,952 15.5%
SO June 30, 2025 190 $17,471 -8.8%
RSP June 30, 2025 100 $17,323 16.2%
MCK June 30, 2025 25 $16,825 24.9%
TXNM June 30, 2025 299 $16,011 3.9%
IWB June 30, 2025 49 $15,030
TXN June 30, 2025 80 $14,376 42.0%
T June 30, 2025 503 $14,225 -16.2%
MO June 30, 2025 229 $13,750 15.8%
JBL June 30, 2025 100 $13,607 38.0%
D June 30, 2025 235 $13,176 8.0%
IWR June 30, 2025 150 $12,761 18.7%
COP June 30, 2025 121 $12,724 43.1%
NI June 30, 2025 300 $12,027 -2.0%
CAT June 30, 2025 36 $11,713 118.5%
ARCC June 30, 2025 500 $11,080 -14.3%
CNP June 30, 2025 300 $10,869 2.7%
SPGI June 30, 2025 21 $10,670 -25.9%
FENI June 30, 2025 356 $10,608
PYPL June 30, 2025 150 $9,788 -26.8%
FCX June 30, 2025 250 $9,465 67.5%
LRCX June 30, 2025 130 $9,451 255.2%
QUAL June 30, 2025 55 $9,399
LOW June 30, 2025 40 $9,329 -19.1%
MORN June 30, 2025 30 $8,996 -39.7%
SPLV June 30, 2025 120 $8,966
SCHW June 30, 2025 108 $8,454 7.4%
ADBE June 30, 2025 21 $8,054 -38.3%
CRM June 30, 2025 30 $8,051 -15.7%
SCHH June 30, 2025 370 $7,959 5.4%
ADI June 30, 2025 38 $7,563 76.1%
SHEL June 30, 2025 100 $7,328 37.1%
MS June 30, 2025 60 $7,000 35.0%
AZN June 30, 2025 91 $6,689 12.0%
PM June 30, 2025 40 $6,349 4.1%
RIVN June 30, 2025 500 $6,225 6.3%
FNDE June 30, 2025 189 $5,821
NE June 30, 2025 244 $5,783 60.3%
TRV June 30, 2025 21 $5,629 34.8%
IGIB June 30, 2025 105 $5,515
XLE June 30, 2025 55 $5,140 49.6%
KO June 30, 2025 70 $4,978 22.3%
STZ June 30, 2025 27 $4,863 -30.3%
XLV June 30, 2025 32 $4,742 24.2%
UNP June 30, 2025 20 $4,725 20.4%
TEVA June 30, 2025 303 $4,657 136.6%
BKNG June 30, 2025 1 $4,607 -97.3%
SCHR June 30, 2025 170 $4,226 -4.9%
VOO June 30, 2025 8 $4,111 25.4%
AMAT June 30, 2025 28 $4,063 196.2%
SABA June 30, 2025 464 $4,037 -14.0%
SCHJ June 30, 2025 150 $3,696 -2.6%
FOX June 30, 2025 66 $3,479 9.8%
IUSB June 30, 2025 74 $3,410
ENB June 30, 2025 75 $3,323 1.6%
AMGN June 30, 2025 10 $3,249 44.3%
RIO June 30, 2025 50 $3,004 64.0%
IWM June 30, 2025 15 $2,992 31.3%
MGM June 30, 2025 100 $2,964 -12.3%
CSCO June 30, 2025 25 $1,543 62.6%
UAA June 30, 2025 183 $1,144 -31.2%
FTEC June 30, 2025 6 $968
WBD June 30, 2025 51 $547 170.1%
CSCIF June 30, 2025 50 $141 No longer tracked
TLRY June 30, 2025 35 $23 807.3%
GMOLQ June 30, 2025 5,000 $0 No longer tracked
OGI June 30, 2025 625 $0 -30.6%