Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +42.2%
S&P 500 total return (same window) +37.0%
Excess return +5.2%

Annualized: +32.5% · 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: 99.5% · Options excluded: 0.0%

Sector breakdown

04
Real Estate 32.5%
Technology 22.6%
Financials 15.8%
Communication Services 9.6%
Industrials 6.6%
Retail 5.6%
Energy 3.9%
Healthcare 1.2%
Materials 1.0%
Consumer Discretionary 0.7%
Consumer Staples 0.1%
Consumer products 0.0%
Other/Unmapped 0.3%

Full portfolio 194 positions

05
Type Streak 8Q trend
EQIX Equinix, Inc. - Common Stock $249,381,384 31.36% 239,240 $14,868,766
MU Micron Technology, Inc. - Common Stock $57,714,500 7.26% 50,000 $40,484,660 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $52,033,072 6.54% 145,600 $10,164,336
AAPL Apple Inc. - Common Stock $42,941,024 5.40% 148,400 $5,278,588
AMZN Amazon.com, Inc. - Common Stock $36,513,688 4.59% 153,200 $4,606,724
NVDA NVIDIA Corporation - Common Stock $36,016,200 4.53% 180,000 $4,624,200
CNQ Canadian Natural Resources Limited Common Stock $19,742,100 2.48% 499,800 $-4,613,154
IBKR Interactive Brokers Group, Inc. - Class A Common Stock $16,261,857 2.05% 186,832 $3,731,035
FTAI FTAI Aviation Ltd. - Common Stock $15,420,210 1.94% 57,000 $1,455,210
MA Mastercard Incorporated Common Stock $13,353,600 1.68% 26,000 $362,440
MSFT Microsoft Corporation - Common Stock $9,885,030 1.24% 26,500 $75,525
FERG Ferguson Enterprises Inc. Common Stock $9,791,049 1.23% 41,255 $167,908
NTB Bank of N.T. Butterfield & Son Limited (The) Voting Ordinary Shares $8,622,026 1.08% 144,908 $1,017,254
JPM JP Morgan Chase & Co. Common Stock $7,904,365 0.99% 24,148 $800,989
META Meta Platforms, Inc. - Class A Common Stock $7,773,402 0.98% 13,800 $-121,992
NBIS Nebius Group N.V. - Class A Ordinary Shares $7,622,292 0.96% 27,600 $4,758,516
GOOG Alphabet Inc. - Class C Capital Stock $7,066,600 0.89% 20,000 $1,329,400
PJT PJT Partners Inc. Class A Common Stock $6,266,878 0.79% 41,519 $465,843
NUE Nucor Corporation Common Stock $6,235,218 0.78% 27,992 $1,501,771
SPGI S&P Global Inc. Common Stock $5,566,022 0.70% 13,667 $-247,100
DLR Digital Realty Trust, Inc. Common Stock $5,486,528 0.69% 30,552 $881,802 Up ×1
EVR Evercore Inc. Class A Common Stock $5,121,600 0.64% 15,000 $643,950
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $4,769,625 0.60% 6,250 $2,329,562
BLK BlackRock, Inc. Common Stock $3,773,161 0.47% 3,924 $-589
WMT Walmart Inc. - Common Stock $3,737,580 0.47% 33,000 $-363,660
MCO Moody's Corporation Common Stock $3,623,360 0.46% 8,000 $133,360
TMUS T-Mobile US, Inc. - Common Stock $3,463,625 0.44% 20,650 $-873,495
PANW Palo Alto Networks, Inc. - Common Stock $3,410,200 0.43% 10,000 $1,807,000
EOG EOG Resources, Inc. Common Stock $3,360,007 0.42% 25,900 $-384,356
HLI Houlihan Lokey, Inc. Class A Common Stock $3,353,250 0.42% 25,000 $-237,250
MCB Metropolitan Bank Holding Corp. Common Stock $3,110,940 0.39% 31,500 $487,305
GE GE Aerospace Common Stock $2,616,110 0.33% 7,000 $629,720
MLM Martin Marietta Materials, Inc. Common Stock $2,595,150 0.33% 4,500 $-53,910
PNC PNC Financial Services Group, Inc. (The) Common Stock $2,571,522 0.32% 10,444 $398,230
DHR Danaher Corporation Common Stock $2,381,952 0.30% 12,505 $11,004
AKAM Akamai Technologies, Inc. - Common Stock $2,364,200 0.30% 20,000 $67,200
HLT Hilton Worldwide Holdings Inc. Common Stock $2,357,171 0.30% 7,133 $188,168
AMD Advanced Micro Devices, Inc. - Common Stock $2,323,640 0.29% 4,000 $1,509,920
FBK FB Financial Corporation Common Stock $2,258,225 0.28% 40,799 $139,125
DVN Devon Energy Corporation Common Stock $2,163,515 0.27% 52,360 $1,643,709 Up ×1
BPOP Popular, Inc. - Common Stock $2,134,340 0.27% 13,000 $390,130
CVX Chevron Corporation Common Stock $2,083,935 0.26% 12,572 $-517,212
HD Home Depot, Inc. (The) Common Stock $1,939,740 0.24% 5,500 $130,845
FOX Fox Corporation - Class B Common Stock $1,932,899 0.24% 41,265 $-258,325
AJG Arthur J. Gallagher & Co. Common Stock $1,922,649 0.24% 8,375 $108,791
EFX Equifax, Inc. Common Stock $1,904,640 0.24% 12,000 $-256,200
APO Apollo Global Management, Inc. (New) Common Stock $1,886,808 0.24% 15,947 $109,882
CUBI Customers Bancorp, Inc Common Stock $1,819,300 0.23% 23,000 $222,870
GDS GDS Holdings Limited - American Depositary Shares $1,801,800 0.23% 60,000 $-111,975 Up ×3
EG Everest Group, Ltd. Common Stock $1,786,150 0.22% 5,000 $151,900
TT Trane Technologies plc $1,719,060 0.22% 3,500 $260,470
URI United Rentals, Inc. Common Stock $1,699,335 0.21% 1,500 $606,495
VRT Vertiv Holdings, LLC Class A Common Stock $1,674,100 0.21% 5,000 $421,200
WFC Wells Fargo & Company Common Stock $1,652,800 0.21% 20,000 $60,600
CP Canadian Pacific Kansas City Limited Common Shares $1,624,341 0.20% 18,746 $149,781
ARES Ares Management Corporation Class A Common Stock $1,613,995 0.20% 14,500 $32,045
BX Blackstone Inc. Common Stock $1,612,079 0.20% 13,700 $36,716
FNF Fidelity National Financial, Inc. Common Stock $1,575,568 0.20% 33,409 $26,059
LLY Eli Lilly and Company Common Stock $1,559,259 0.20% 1,300 $363,558
BRO Brown & Brown, Inc. Common Stock $1,539,600 0.19% 24,000 $-25,440
TMO Thermo Fisher Scientific Inc Common Stock $1,504,080 0.19% 3,000 $29,490
GEV GE Vernova Inc. Common Stock $1,468,575 0.18% 1,250 $377,450
CSX CSX Corporation - Common Stock $1,425,900 0.18% 30,000 $194,400
SNOW Snowflake Inc. Common Stock $1,399,750 0.18% 5,500 $570,240
ASML ASML Holding N.V. - New York Registry Shares $1,392,608 0.18% 700 $468,027
MS Morgan Stanley Common Stock $1,381,336 0.17% 6,608 $293,857
V Visa Inc. $1,372,360 0.17% 4,000 $163,400
AVGO Broadcom Inc. - Common Stock $1,322,125 0.17% 3,500 $238,840
RTX RTX Corporation Common Stock $1,283,713 0.16% 6,766 $-21,448
PLTR Palantir Technologies Inc. - Class A Common Stock $1,283,370 0.16% 11,000 $-325,710
LII Lennox International, Inc. Common Stock $1,260,490 0.16% 2,200 $239,404
CHTR Charter Communications, Inc. - Class A Common Stock $1,243,484 0.16% 8,744 $-644,171
WAL Western Alliance Bancorporation Common Stock (DE) $1,233,000 0.16% 15,000 $170,250
ADBE Adobe Inc. - Common Stock $1,230,120 0.15% 6,000 $-228,360
OSG Octave Specialty Group, Inc. Common Stock $1,225,424 0.15% 196,382 $312,248
PNFP Pinnacle Financial Partners, Inc. - Common Stock $1,210,560 0.15% 12,000 $176,880
OZK Bank OZK - Common Stock $1,117,591 0.14% 21,455 $133,021
ACGL Arch Capital Group Ltd. - Common Stock $1,116,190 0.14% 11,500 $12,305
FCNCA First Citizens BancShares, Inc. - Class A Common Stock $1,065,364 0.13% 512 $100,418
SATS EchoStar Corporation - Common stock $1,039,150 0.13% 10,000 $-131,550
KDP Keurig Dr Pepper Inc. - Common Stock $981,900 0.12% 30,000 $192,000
MC Moelis & Company Class A Common Stock $968,216 0.12% 14,800 $124,616
COP ConocoPhillips Common Stock $963,917 0.12% 9,272 $-259,987
CARR Carrier Global Corporation Common Stock $953,550 0.12% 13,000 $221,520
NSC Norfolk Southern Corporation Common Stock $943,770 0.12% 3,000 $82,770
SLG SL Green Realty Corp Common Stock $880,090 0.11% 17,000 $252,110
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $863,820 0.11% 9,000 $-265,320
IWV iShares Trust $852,800 0.11% 2,000 $111,440
AMG Affiliated Managers Group, Inc. Common Stock $846,000 0.11% 2,500 $154,250
AON Aon plc Class A Ordinary Shares (Ireland) $829,225 0.10% 2,500 $22,275
LOW Lowe's Companies, Inc. Common Stock $815,813 0.10% 3,700 $-58,423
CBRE CBRE Group Inc Common Stock Class A $808,140 0.10% 6,000 $-4,620
AUB Atlantic Union Bankshares Corporation Common Stock $788,828 0.10% 18,644 $122,491
YUMC Yum China Holdings, Inc. Common Stock $776,530 0.10% 19,000 $-150,290
H Hyatt Hotels Corporation Class A Common Stock $775,360 0.10% 4,000 $200,200
FANG Diamondback Energy, Inc. - Common Stock $773,080 0.10% 4,398 $-96,800
PFE Pfizer, Inc. Common Stock $769,645 0.10% 31,962 $-127,848
MCK McKesson Corporation Common Stock $755,600 0.10% 1,000 $-109,760
CSGP CoStar Group, Inc. - Common Stock $752,179 0.09% 26,560 $-319,251
SARO StandardAero, Inc. Common Stock $751,489 0.09% 25,125 $102,510

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
GDS $1,801,800 0.23% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
MCD $540,620 2,000 0.07%
TCNNF $484,190 42,640 0.06%
TCBX $404,000 10,000 0.05%
NOW $297,840 3,000 0.04%
NVTS $268,800 15,000 0.03%
UPS $215,000 2,000 0.03%
Unknown issuer (CUSIP: G6951A122) $190,499 19,069 0.02%
Unknown issuer (CUSIP: 296013105) $168,200 11,600 0.02%
BTDR $158,700 10,000 0.02%
FRMI $91,600 10,000 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MU Trimmed -1K +$40.5M
EQIX Price move only +0 +$14.9M
GOOGL Price move only +0 +$10.2M
AAPL Price move only +0 +$5.3M
NBIS Price move only +0 +$4.8M
NVDA Price move only +0 +$4.6M
CNQ Price move only +0 -$4.6M
AMZN Price move only +0 +$4.6M
IBKR Price move only +0 +$3.7M
CRWD Price move only +0 +$2.3M

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
CTRA June 30, 2026 60,043 $2,109,911 No longer tracked
XOM June 30, 2026 8,057 $1,366,951 20.0%
PNFP Dec. 31, 2025 12,000 $1,125,480 0.7%
HES Sept. 30, 2025 8,000 $1,108,320 No longer tracked
ESGR Sept. 30, 2025 2,500 $840,900 No longer tracked
HONE June 30, 2025 69,374 $719,408 No longer tracked
FBMS June 30, 2025 15,671 $529,837 No longer tracked
NTR June 30, 2025 10,208 $507,031 20.3%
BCML June 30, 2025 18,182 $457,641 12.6%
CAG June 30, 2025 16,500 $440,055 -34.7%
JNJ Dec. 31, 2025 2,304 $427,208 23.7%
IONS Sept. 30, 2025 10,500 $414,855 -33.4%
SNREY Sept. 30, 2025 6,872 $388,612 No longer tracked
FIS June 30, 2025 4,750 $354,730 -60.2%
DIS June 30, 2025 3,328 $328,474 -17.6%
FAF June 30, 2025 5,000 $328,150 1.8%
LBTYK June 30, 2026 24,320 $285,274 -20.5%
VSNT June 30, 2026 7,500 $277,650 -14.1%
LNTH March 31, 2026 4,000 $266,200 31.8%
INTC Sept. 30, 2025 11,500 $257,600 255.7%
KKR March 31, 2026 2,000 $254,960 -2.4%
OXY March 31, 2026 6,000 $246,720 -10.6%
HCA June 30, 2026 500 $236,620 9.4%
PPBI Sept. 30, 2025 11,082 $233,719 No longer tracked
GLIBK March 31, 2026 6,220 $231,446 -37.5%
PENN Dec. 31, 2025 12,000 $231,120 0.1%
CBU June 30, 2025 4,058 $230,738 6.7%
ISRG June 30, 2026 500 $230,495 -1.4%
KGC June 30, 2026 7,400 $225,848 1.9%
BMY Dec. 31, 2025 5,000 $225,500 13.4%
FCX Sept. 30, 2025 5,000 $216,750 83.7%
BNTX Sept. 30, 2025 2,000 $212,940 -1.7%
DELL Dec. 31, 2025 1,500 $212,655 346.9%
WTW Dec. 31, 2025 605 $208,997 -12.2%
HHH March 31, 2026 2,613 $208,439 12.3%
DOW June 30, 2026 5,000 $208,250 2.2%
HSY June 30, 2026 1,000 $207,890 -8.7%
WTW June 30, 2025 605 $204,460 -5.8%
RYAN Sept. 30, 2025 3,000 $203,970 -33.2%
B June 30, 2026 5,000 $203,950 9.5%
UPS Sept. 30, 2025 2,000 $201,880 11.4%
ESSA June 30, 2025 10,000 $188,500 No longer tracked
RBB Dec. 31, 2025 10,000 $187,600 26.9%
FIHL Dec. 31, 2025 10,000 $181,500 No longer tracked
KURA June 30, 2026 20,000 $162,600 -2.9%
SLDE Dec. 31, 2025 10,000 $157,850 21.2%
TH June 30, 2026 15,000 $139,200 -7.5%
LBTYA June 30, 2026 10,044 $121,432 -21.5%
KURA Dec. 31, 2025 10,000 $88,500 2.5%