Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +43.8%
S&P 500 total return (same window) +37.0%
Excess return +6.8%

Annualized: +33.8% · 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: 99.3% · Options excluded: 0.0%

Sector breakdown

04
Technology 55.3%
Healthcare 16.5%
Communication Services 8.5%
Consumer Discretionary 6.4%
Industrials 5.5%
Materials 2.9%
Financials 2.0%
Retail 1.5%
Utilities 1.1%
Real Estate 0.4%

Full portfolio 37 positions

05
Type Streak 8Q trend
AVGO Broadcom Inc. - Common Stock $26,920,732 21.62% 71,266 $3,881,427 Down ×6
AAPL Apple Inc. - Common Stock $11,856,815 9.52% 40,976 $1,488,986 Up ×1
NVDA NVIDIA Corporation - Common Stock $9,748,450 7.83% 48,720 $1,351,557 Up ×2
GOOGL Alphabet Inc. - Class A Common Stock $8,694,812 6.98% 24,330 $1,761,166 Up ×1
ARM Arm Holdings plc - American Depositary Shares $6,114,914 4.91% 17,246 $3,505,940
IDXX IDEXX Laboratories, Inc. - Common Stock $6,049,848 4.86% 11,492 $-769,810 Down ×1
VRT Vertiv Holdings, LLC Class A Common Stock $5,935,689 4.77% 17,728 $1,537,008 Up ×3
ABBV AbbVie Inc. Common Stock $5,566,025 4.47% 22,119 $816,261 Up ×3
HLT Hilton Worldwide Holdings Inc. Common Stock $4,183,954 3.36% 12,661 $332,477 Down ×5
EW Edwards Lifesciences Corporation Common Stock $3,974,089 3.19% 43,932 $446,085 Down ×1
ROP Roper Technologies, Inc. - Common Stock $3,889,116 3.12% 11,493 $-244,676 Down ×6
MAR Marriott International - Class A Common Stock $3,728,506 2.99% 10,061 $436,874 Down ×1
MSFT Microsoft Corporation - Common Stock $3,585,468 2.88% 9,612 $636,324 Up ×2
ECL Ecolab Inc. Common Stock $2,591,630 2.08% 9,302 $100,353 Down ×6
NICE NICE Ltd - American Depositary Shares each representing one Ordinary Share $2,420,335 1.94% 26,641 $-517,101
ADBE Adobe Inc. - Common Stock $2,336,818 1.88% 11,398 $778,676 Up ×1
INCY Incyte Corporation - Common Stock $2,097,273 1.68% 18,501 $356,995 Up ×3
META Meta Platforms, Inc. - Class A Common Stock $1,918,002 1.54% 3,405 $465,937 Up ×4
AMZN Amazon.com, Inc. - Common Stock $1,889,321 1.52% 7,927 $287,309 Up ×3
ISRG Intuitive Surgical, Inc. - Common Stock $1,815,012 1.46% 4,564 $-288,946
V Visa Inc. $1,812,544 1.46% 5,283 $303,460 Up ×3
AMD Advanced Micro Devices, Inc. - Common Stock $1,082,816 0.87% 1,864 $703,623
KGC Kinross Gold Corporation Common Stock $996,835 0.80% 42,203 $-282,044 Up ×4
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $705,550 0.57% 1,410 $17,898 Down ×1
NEE NextEra Energy, Inc. Common Stock $667,666 0.54% 7,607 $-38,872
EQIX Equinix, Inc. - Common Stock $506,602 0.41% 486 $30,206
PEG Public Service Enterprise Group Incorporated Common Stock $505,708 0.41% 6,231 $1,309
SWKS Skyworks Solutions, Inc. - Common Stock $377,239 0.30% 5,564 $78,270 Down ×6
ZBRA Zebra Technologies Corporation - Class A Common Stock $365,931 0.29% 1,390 $75,310
GILD Gilead Sciences, Inc. - Common Stock $344,908 0.28% 2,730 $-35,572
BMY Bristol-Myers Squibb Company Common Stock $343,300 0.28% 5,958 $-18,052
LLY Eli Lilly and Company Common Stock $297,459 0.24% 248 $69,357
EXPD Expeditors International of Washington, Inc. Common Stock $272,177 0.22% 1,670 $32,983
AMAT Applied Materials, Inc. - Common Stock $260,280 0.21% 360 Up ×1
CRWV CoreWeave, Inc. - Class A Common Stock $242,479 0.19% 2,436 Up ×1
EMR Emerson Electric Company Common Stock $217,159 0.17% 1,517
SO Southern Company (The) Common Stock $202,235 0.16% 2,113 $-1,711

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
VRT $5,935,689 4.77% up ×3
ABBV $5,566,025 4.47% up ×3
INCY $2,097,273 1.68% up ×3
META $1,918,002 1.54% up ×4
AMZN $1,889,321 1.52% up ×3
V $1,812,544 1.46% up ×3
KGC $996,835 0.80% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
AMAT $260,280 360 0.21%
CRWV $242,479 2,436 0.19%
EMR $217,159 1,517 0.17%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
AVGO Trimmed -3K +$3.9M
ARM Price move only +0 +$3.5M
GOOGL Bought more +218 +$1.8M
VRT Bought more +174 +$1.5M
AAPL Bought more +124 +$1.5M
NVDA Bought more +573 +$1.4M
ABBV Bought more +280 +$816K
ADBE Bought more +5K +$779K
IDXX Trimmed -645 -$770K
AMD Price move only +0 +$704K

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
GOOGL Sept. 30, 2025 24,114 $4,250,000 43.0%
NVEE Sept. 30, 2025 89,806 $2,074,000 No longer tracked
TDG June 30, 2026 703 $814,748 -17.2%
BRK-B (filed as BRKB) Sept. 30, 2025 1,435 $697,000 No longer tracked
NKE Dec. 31, 2025 7,480 $522,000 -45.7%
EQIX Sept. 30, 2025 640 $509,000 33.7%
VZ June 30, 2026 4,653 $233,580 8.6%
UPS Sept. 30, 2025 2,127 $215,000 11.5%
NSC Dec. 31, 2025 701 $211,000 9.6%
VZ Dec. 31, 2025 4,786 $210,000 12.9%
IOVA June 30, 2026 59,143 $207,591 211.5%
NSC June 30, 2025 872 $207,000 23.6%
DOX Sept. 30, 2025 2,237 $204,000 -28.7%
EMR March 31, 2026 1,517 $201,000 23.2%
EXPD June 30, 2025 1,670 $201,000 67.9%