Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +44.1%
S&P 500 total return (same window) +37.0%
Excess return +7.1%

Annualized: +34.0% · 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: 95.5% · Options excluded: 0.0%

Sector breakdown

04
Technology 36.7%
Financials 11.3%
Industrials 8.6%
Energy 7.5%
Communication Services 6.9%
Healthcare 6.6%
Real Estate 6.5%
Retail 1.7%
Materials 1.5%
Utilities 1.4%
Consumer Discretionary 0.8%
Other/Unmapped 10.4%

Full portfolio 209 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $137,065,379 10.74% 685,019 $18,488,149 Up ×1
MU Micron Technology, Inc. - Common Stock $73,533,872 5.76% 63,705 $56,220,161 Up ×3
AVGO Broadcom Inc. - Common Stock $54,424,604 4.26% 144,076 $9,158,242 Down ×3
AAPL Apple Inc. - Common Stock $34,060,518 2.67% 117,710 $4,207,111 Up ×4
VRT Vertiv Holdings, LLC Class A Common Stock $33,519,720 2.63% 100,113 $8,584,193 Up ×6
MSFT Microsoft Corporation - Common Stock $27,291,878 2.14% 73,165 $476,741 Up ×1
WMB Williams Companies, Inc. (The) Common Stock $26,566,466 2.08% 357,365 $635,715 Up ×2
DELL Dell Technologies Inc. Class C Common Stock $24,288,429 1.90% 56,294 $23,806,599 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $23,913,409 1.87% 66,915 $4,900,168 Up ×4
APP Applovin Corporation - Class A Common Stock $23,632,049 1.85% 45,867 $5,430,315 Up ×2
PLTR Palantir Technologies Inc. - Class A Common Stock $21,395,643 1.68% 183,386 $-5,306,891 Up ×1
JXN Jackson Financial Inc. Class A Common Stock $20,620,412 1.62% 201,391 $-494,273 Up ×2
AMZN Amazon.com, Inc. - Common Stock $19,728,834 1.55% 82,776 $2,583,008 Up ×2
TBIL F/m US Treasury 3 Month Bill Fund $19,455,874 1.52% 390,210 $-30,703 Down ×1
LRCX Lam Research Corporation - Common Stock $18,275,650 1.43% 42,175 $9,760,032 Up ×3
KMI Kinder Morgan, Inc. Common Stock $18,170,997 1.42% 568,377 $-647,301 Up ×6
TSM Taiwan Semiconductor Manufacturing Company Ltd. $18,041,256 1.41% 37,777 $5,630,573 Up ×5
UNH UnitedHealth Group Incorporated Common Stock (DE) $16,395,895 1.28% 39,448 $9,390,648 Up ×3
OKE ONEOK, Inc. Common Stock $16,352,695 1.28% 188,092 $-557,170 Up ×2
ABBV AbbVie Inc. Common Stock $15,959,885 1.25% 63,424 $-2,078,490 Down ×1
NLY Annaly Capital Management Inc. Common Stock $15,452,759 1.21% 691,089 $1,281,608 Up ×6
LLY Eli Lilly and Company Common Stock $14,642,296 1.15% 12,208 $7,198,435 Up ×3
IBKR Interactive Brokers Group, Inc. - Class A Common Stock $14,237,526 1.12% 163,575 $3,523,578 Up ×6
VZ Verizon Communications Inc. Common Stock $14,138,384 1.11% 333,925 $-2,242,951 Up ×2
AMAT Applied Materials, Inc. - Common Stock $13,709,307 1.07% 18,962 $12,728,206 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $13,331,965 1.04% 103,751 $1,164,907 Up ×4
ANET Arista Networks, Inc. Common Stock $12,959,813 1.02% 76,288 $3,854,194 Up ×6
INTC Intel Corporation - Common Stock $12,745,714 1.00% 91,282
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $12,731,476 1.00% 164,192 $-2,243,089 Up ×6
V Visa Inc. $12,401,098 0.97% 36,146 $1,518,517 Up ×4
T AT&T Inc. $12,332,207 0.97% 595,758 $-4,607,573 Up ×2
SNEX StoneX Group Inc. - Common Stock $12,261,593 0.96% 103,473 $4,173,283 Up ×3
XOM Exxon Mobil Corporation Common Stock $12,220,400 0.96% 89,383 $-2,805,726 Up ×1
WWD Woodward, Inc. - Common Stock $11,569,751 0.91% 27,195 $2,155,471 Up ×1
AMGN Amgen Inc. - Common Stock $11,462,852 0.90% 31,655 $-3,924,894 Down ×1
APH Amphenol Corporation Common Stock $11,295,402 0.89% 64,062 $3,535,721 Up ×1
HWM Howmet Aerospace Inc. Common Stock $10,909,671 0.85% 40,578 $1,857,388 Up ×3
KIM Kimco Realty Corporation (HC) Common Stock $10,719,308 0.84% 422,853 $1,650,471 Up ×6
CAT Caterpillar, Inc. Common Stock $10,611,594 0.83% 9,965 $3,585,509 Up ×1
CTRE CareTrust REIT, Inc. Common Stock $10,510,829 0.82% 260,491 $1,297,283 Up ×4
META Meta Platforms, Inc. - Class A Common Stock $10,234,341 0.80% 18,169 $118,216 Up ×2
HST Host Hotels & Resorts, Inc. - Common Stock $10,042,708 0.79% 423,564 $2,175,275 Up ×1
TFC Truist Financial Corporation Common Stock $9,898,610 0.78% 198,688 $996,398 Up ×6
QQQ Invesco QQQ Trust, Series 1 $9,889,166 0.77% 13,429 $2,215,513 Up ×6
SLG SL Green Realty Corp Common Stock $9,851,190 0.77% 190,288 $3,113,961 Up ×1
LAMR Lamar Advertising Company - Class A Common Stock $9,694,031 0.76% 62,149 $2,214,666 Up ×5
CVX Chevron Corporation Common Stock $9,547,448 0.75% 57,598 $-2,154,666 Up ×6
BK The Bank of New York Mellon Corporation Common Stock $9,389,722 0.74% 64,931 $2,390,095 Up ×4
PFE Pfizer, Inc. Common Stock $9,380,526 0.74% 389,557 $-1,197,807 Up ×2
ADC Agree Realty Corporation Common Stock $8,552,729 0.67% 112,922 $354,910 Up ×2
GS Goldman Sachs Group, Inc. (The) Common Stock $8,349,665 0.65% 8,256 $6,362,235 Up ×1
AEP American Electric Power Company, Inc. - Common Stock $8,085,965 0.63% 59,104 $533,178 Up ×3
CSCO Cisco Systems, Inc. - Common Stock $8,022,696 0.63% 68,302 $3,002,610 Up ×1
CME CME Group Inc. - Class A Common Stock $7,885,583 0.62% 35,709 $-2,375,232 Up ×2
GLW Corning Incorporated Common Stock $7,875,253 0.62% 30,831 Up ×1
C Citigroup, Inc. Common Stock $7,848,504 0.62% 56,077 $7,006,587 Up ×1
AMCR Amcor plc Ordinary Shares $7,573,256 0.59% 174,700 $841,230 Up ×1
NFG National Fuel Gas Company Common Stock $7,500,247 0.59% 97,141 $-1,357,619 Up ×6
GE GE Aerospace Common Stock $7,386,020 0.58% 19,763 $5,712,091 Up ×1
IVZ Invesco Ltd Common Stock $7,380,088 0.58% 279,655 $783,406 Up ×2
MS Morgan Stanley Common Stock $7,263,348 0.57% 34,746 $5,955,769 Up ×1
USMV iShares MSCI USA Min Vol Factor ETF $7,255,936 0.57% 75,222 $220,678 Down ×4
SPY SPY $7,004,315 0.55% 9,380 $-143,051 Down ×2
BX Blackstone Inc. Common Stock $6,360,436 0.50% 54,053 $380,266 Up ×6
SPG Simon Property Group, Inc. Common Stock $6,156,075 0.48% 27,525 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $6,058,313 0.47% 10,429 $5,802,804 Up ×1
NEM Newmont Corporation $5,984,473 0.47% 64,074 $-643,058 Up ×2
SBUX Starbucks Corporation - Common Stock $5,784,792 0.45% 56,608 Up ×1
EMBJ Embraer S.A. Common Stock $5,702,625 0.45% 89,383 $765,680 Up ×2
LIN Linde plc - Ordinary Shares $5,700,384 0.45% 10,985 $434,915 Up ×1
EFA iShares Trust $5,572,437 0.44% 53,643 $428,912 Up ×3
XLK SELECT SECTOR SPDR TRUST $5,153,604 0.40% 27,050 $1,423,149 Down ×2
STEP StepStone Group Inc. - Class A Common Stock $5,037,003 0.39% 121,785
FDX FedEx Corporation Common Stock $5,018,957 0.39% 16,028 $4,711,270 Up ×1
SOXX iShares Trust $4,682,721 0.37% 7,308 $2,270,253 Down ×3
CMCSA Comcast Corporation - Class A Common Stock $4,342,000 0.34% 176,863 $-490,543 Up ×2
PGR Progressive Corporation (The) Common Stock $4,060,812 0.32% 18,589 $622,144 Up ×1
XLE SELECT SECTOR SPDR TRUST $3,059,613 0.24% 57,609 $212,074 Up ×3
XLI SELECT SECTOR SPDR TRUST $3,037,209 0.24% 16,397 $1,831,434 Up ×1
VUG Vanguard Morningstar Growth ETF $2,989,382 0.23% 34,704 $1,693,198 Up ×1
JPM JP Morgan Chase & Co. Common Stock $2,896,941 0.23% 8,850 $-4,525,677 Down ×1
TSLA Tesla, Inc. - Common Stock $2,687,639 0.21% 6,390 $248,574 Down ×2
VOO Vanguard S&P 500 ETF $2,445,733 0.19% 3,561 $293,176 Down ×1
JPC Nuveen Preferred & Income Opportunities Fund $2,277,251 0.18% 288,992 $75,214 Down ×3
GEV GE Vernova Inc. Common Stock $2,126,719 0.17% 1,810 $-7,050,086 Down ×1
CWB SPDR SERIES TRUST $2,079,701 0.16% 19,289 $1,009,961 Up ×1
PFF iShares Preferred and Income Securities ETF $2,004,826 0.16% 65,754 $18,620 Up ×2
GILD Gilead Sciences, Inc. - Common Stock $1,984,976 0.16% 15,711 $-150,610 Up ×1
OEF iShares Trust $1,891,821 0.15% 5,171 $165,575 Down ×2
KLAC KLA Corporation - Common Stock $1,878,310 0.15% 6,226 $959,110 Up ×1
NEA Nuveen AMT-Free Quality Municipal Income Fund Common Shares of Beneficial Interest Par Value $.01 $1,734,939 0.14% 147,780 $33,628 Down ×2
IYW iShares U.S. Technology ETF $1,572,402 0.12% 6,234 $-429,601 Down ×2
VYM Vanguard High Dividend Yield ETF $1,572,201 0.12% 9,949 $-1,326 Down ×3
PREF Principal Exchange-Traded Funds $1,570,058 0.12% 82,375 $22,359 Up ×1
IEF iShares 7-10 Year Treasury Bond ETF $1,516,527 0.12% 16,036 $-58,616 Down ×5
NUV Nuveen Municipal Value Fund, Inc. Common Stock $1,479,328 0.12% 160,447 $21,224 Down ×5
HYGH iShares U.S. ETF Trust $1,447,080 0.11% 16,708 $647,912 Up ×1
NAD Nuveen Quality Municipal Income Fund Common Stock $1,435,449 0.11% 118,437 $-32,920 Down ×5
WMT Walmart Inc. - Common Stock $1,360,991 0.11% 12,017 $-5,079,289 Down ×1
ILF iShares Latin America 40 ETF $1,349,163 0.11% 39,975 Up ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
MU $73,533,872 5.76% up ×3
AAPL $34,060,518 2.67% up ×4
VRT $33,519,720 2.63% up ×6
GOOGL $23,913,409 1.87% up ×4
LRCX $18,275,650 1.43% up ×3
KMI $18,170,997 1.42% up ×6
TSM $18,041,256 1.41% up ×5
UNH $16,395,895 1.28% up ×3
NLY $15,452,759 1.21% up ×6
LLY $14,642,296 1.15% up ×3
IBKR $14,237,526 1.12% up ×6
MRK $13,331,965 1.04% up ×4
ANET $12,959,813 1.02% up ×6
SHEL $12,731,476 1.00% up ×6
V $12,401,098 0.97% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
INTC $12,745,714 91,282 1.00%
GLW $7,875,253 30,831 0.62%
SPG $6,156,075 27,525 0.48%
SBUX $5,784,792 56,608 0.45%
STEP $5,037,003 121,785 0.39%
ILF $1,349,163 39,975 0.11%
Unknown issuer (CUSIP: 314352105) $966,098 6,398 0.08%
DRI $529,536 2,570 0.04%
VICR $351,297 925 0.03%
VTRS $310,883 19,577 0.02%
Unknown issuer (CUSIP: 26614N201) $287,285 2,118 0.02%
CMI $283,075 397 0.02%
BALT $254,726 7,433 0.02%
AIT $245,066 725 0.02%
GWW $231,073 170 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MU Bought more +12K +$56.2M
NVDA Bought more +5K +$18.5M
LRCX Bought more +2K +$9.8M
UNH Bought more +14K +$9.4M
AVGO Trimmed -2K +$9.2M
VRT Bought more +602 +$8.6M
LLY Bought more +4K +$7.2M
GEV Trimmed -9K -$7.1M
GS Bought more +6K +$6.4M
GE Bought more +14K +$5.7M

10 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
UNM March 31, 2026 124,602 $9,656,665 23.1%
CCEP Sept. 30, 2025 100,928 $9,358,009 12.2%
QCOM June 30, 2025 60,618 $9,311,459 13.5%
OWL Dec. 31, 2025 542,040 $9,176,742 -40.0%
VICI March 31, 2026 265,865 $7,476,116 -17.5%
BRO Sept. 30, 2025 67,426 $7,475,446 -35.0%
UBER March 31, 2026 87,606 $7,158,293 -3.4%
VIRT March 31, 2026 199,238 $6,638,581 43.0%
CFG June 30, 2025 161,423 $6,613,506 43.7%
ARE Dec. 31, 2025 78,003 $6,500,777 -6.3%
DLR March 31, 2026 41,931 $6,487,099 -0.2%
SMG March 31, 2026 109,092 $6,365,542 -19.3%
ORCL Dec. 31, 2025 22,304 $6,272,755 -26.9%
MAA Sept. 30, 2025 42,174 $6,242,213 -16.6%
BXSL Dec. 31, 2025 235,705 $6,144,824 -10.7%
MCO Dec. 31, 2025 12,238 $5,831,126 -12.3%
BKNG Dec. 31, 2025 1,045 $5,643,172 -97.0%
SCHW June 30, 2026 59,355 $5,578,170 6.2%
AXS Sept. 30, 2025 51,927 $5,391,029 -0.2%
PM June 30, 2026 30,940 $5,115,601 4.8%
BA Dec. 31, 2025 22,894 $4,941,209 -11.2%
BLK June 30, 2025 5,084 $4,811,540 1.6%
DOC Sept. 30, 2025 270,758 $4,740,972 -1.6%
PGR Dec. 31, 2025 19,047 $4,703,691 -6.6%
HRB March 31, 2026 104,731 $4,564,191 32.3%
CG Dec. 31, 2025 71,565 $4,487,151 -33.5%
INTC March 31, 2026 117,873 $4,349,504 163.3%
NEM June 30, 2025 89,542 $4,323,098 98.8%
BLK Dec. 31, 2025 3,682 $4,292,826 -0.4%
LYB June 30, 2025 59,936 $4,219,492 2.4%
PH June 30, 2025 6,628 $4,028,730 39.7%
TMO March 31, 2026 6,687 $3,874,812 37.7%
TGT Dec. 31, 2025 42,961 $3,853,620 56.5%
EMR June 30, 2025 30,723 $3,368,471 21.8%
GXC June 30, 2025 24,153 $2,077,158
CQQQ June 30, 2025 45,002 $1,994,036
XLI Dec. 31, 2025 12,763 $1,968,412 9.7%
VUG Dec. 31, 2025 3,915 $1,877,744 13.2%
KBE June 30, 2025 28,996 $1,535,624 15.0%
BAR June 30, 2026 32,853 $1,515,509 3.1%
JETS June 30, 2025 67,878 $1,409,827 21.4%
RPG June 30, 2025 35,651 $1,363,659 28.5%
IGV March 31, 2026 12,556 $1,327,058 37.1%
AFL Dec. 31, 2025 11,062 $1,235,653 1.9%
NFLX Dec. 31, 2025 993 $1,190,531 -28.0%
AXP June 30, 2026 3,669 $1,109,890 -10.1%
VOE Dec. 31, 2025 6,217 $1,085,386
IYY Dec. 31, 2025 6,603 $1,072,790 13.7%
WELL Dec. 31, 2025 5,853 $1,042,655 20.8%
ITA Dec. 31, 2025 4,874 $1,019,933 -3.6%
IWF Dec. 31, 2025 2,153 $1,008,563 8.5%
IMCG Dec. 31, 2025 11,959 $989,381 19.4%
MUB Dec. 31, 2025 8,940 $951,988
XLF March 31, 2026 17,231 $943,742 9.1%
VTI Dec. 31, 2025 2,873 $942,870 13.5%
IYC Dec. 31, 2025 8,939 $936,792 -7.4%
QUAL Dec. 31, 2025 4,710 $915,994
RSP Dec. 31, 2025 4,821 $914,545 10.2%
LIN Dec. 31, 2025 1,919 $911,656 13.1%
IETC Dec. 31, 2025 8,897 $906,860
KIE Sept. 30, 2025 14,684 $877,224 0.4%
RPG Dec. 31, 2025 18,358 $876,048 26.0%
PKB Dec. 31, 2025 9,031 $863,348 -0.1%
COST Dec. 31, 2025 925 $856,486 7.1%
PM Dec. 31, 2025 5,210 $845,001 18.2%
ITOT Sept. 30, 2025 6,042 $815,870 15.5%
MCD Dec. 31, 2025 2,658 $807,788 -23.8%
TRV Dec. 31, 2025 2,889 $806,616 24.4%
MINT Dec. 31, 2025 7,744 $779,745
DRI Sept. 30, 2025 3,572 $778,482 4.9%
SNA Dec. 31, 2025 2,202 $762,906 6.6%
SKT June 30, 2025 22,329 $754,495 13.1%
VHT Sept. 30, 2025 3,033 $753,107
HIG June 30, 2026 5,349 $723,288 -4.8%
XOM Dec. 31, 2025 6,361 $717,162 36.3%
XLB June 30, 2026 14,206 $709,886 No longer tracked
LMT June 30, 2026 1,149 $694,446 -0.6%
HIG Dec. 31, 2025 4,981 $664,405 -8.4%
VIG Dec. 31, 2025 2,913 $628,609
COPX June 30, 2026 8,227 $628,145
BPOP Dec. 31, 2025 4,784 $607,618 27.5%
STT Dec. 31, 2025 5,199 $603,136 36.7%
JNJ Dec. 31, 2025 3,218 $596,658 22.2%
AMAT Dec. 31, 2025 2,868 $587,126 111.0%
MTB Dec. 31, 2025 2,871 $567,367 8.3%
VFH Dec. 31, 2025 4,300 $564,332
IJR Sept. 30, 2025 5,138 $561,527 16.4%
AMP Dec. 31, 2025 1,142 $560,865 0.9%
VCIT Dec. 31, 2025 6,611 $556,012
CINF Dec. 31, 2025 3,475 $549,404 -0.7%
IJK Dec. 31, 2025 5,721 $548,541 14.1%
WM Dec. 31, 2025 2,401 $530,199 -5.9%
GDXJ Dec. 31, 2025 5,300 $524,859 -0.9%
XBIL Dec. 31, 2025 10,344 $519,225
SYK Dec. 31, 2025 1,378 $509,553 -18.8%
XME Dec. 31, 2025 5,381 $501,442 4.0%
ETR Dec. 31, 2025 5,294 $493,348 9.1%
DE June 30, 2026 875 $492,893 7.5%
COPX Dec. 31, 2025 7,984 $477,525
CALM Sept. 30, 2025 4,735 $471,748 -30.9%
STEP Dec. 31, 2025 6,869 $448,613 -28.2%
CEG Dec. 31, 2025 1,349 $444,009 -24.2%
HWC Dec. 31, 2025 6,898 $431,886 14.9%
PFM Dec. 31, 2025 8,439 $428,202
VGT Dec. 31, 2025 563 $420,243 37.1%
DELL Dec. 31, 2025 2,919 $413,780 338.7%
ESGV Dec. 31, 2025 3,461 $409,978
BRK-B (filed as BRKB) Dec. 31, 2025 740 $372,028 No longer tracked
LNT Dec. 31, 2025 5,335 $359,632 -1.1%
THG Dec. 31, 2025 1,927 $349,925 20.6%
FTEC June 30, 2026 1,656 $344,467
IWD Dec. 31, 2025 1,660 $337,984
VOT Dec. 31, 2025 1,140 $334,996
JETS June 30, 2026 13,115 $323,024 -16.0%
ISRG Dec. 31, 2025 701 $313,508 -28.2%
FIDU Dec. 31, 2025 3,700 $303,178
NJR Dec. 31, 2025 6,275 $302,129 10.3%
ACT Dec. 31, 2025 7,782 $298,362 15.7%
EPRT June 30, 2026 9,815 $297,984 -14.1%
DD June 30, 2026 6,337 $290,234 -3.6%
AJG Dec. 31, 2025 931 $288,452 -12.2%
FTNT Sept. 30, 2025 2,634 $278,466 119.0%
MSI Dec. 31, 2025 602 $275,379 18.8%
BUFB Dec. 31, 2025 7,216 $257,900
DIA Dec. 31, 2025 546 $253,243
ON Dec. 31, 2025 5,000 $246,550 58.7%
GEHC Dec. 31, 2025 3,181 $238,856 -19.8%
IWS Dec. 31, 2025 1,685 $235,284 16.2%
XLU Dec. 31, 2025 2,660 $232,000 No longer tracked
APH Dec. 31, 2025 1,870 $231,365 -35.4%
PG Dec. 31, 2025 1,408 $216,329 1.8%
NEE Dec. 31, 2025 2,799 $211,283 -5.0%
TT Dec. 31, 2025 498 $210,134 21.0%
JAAA Sept. 30, 2025 4,000 $203,000
XLP Dec. 31, 2025 2,579 $202,126 No longer tracked
FDX Dec. 31, 2025 854 $201,474 0.1%
COP Dec. 31, 2025 2,123 $200,850 37.2%
PNC Dec. 31, 2025 997 $200,326 5.5%
PFS Sept. 30, 2025 11,195 $196,249 16.1%
PFN Dec. 31, 2025 10,988 $83,398 -17.5%