Performance vs S&P 500

03
Tracked Q3 2025–Q2 2026 +6.4%
S&P 500 total return (same window) +13.0%
Excess return -6.5%

Annualized: +8.7% · S&P 500: +17.7%

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: 98.7% · Options excluded: 0.0%

Sector breakdown

04
Consumer Discretionary 85.4%
Communication Services 14.6%

Full portfolio 2 positions

05
Type Streak 8Q trend
HTHT H World Group Limited - American Depositary Shares $25,487,749 85.38% 610,924 $-8,821,296 Down ×1
KT KT Corporation Common Stock $4,363,200 14.62% 252,500 $-1,052,925

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
HTHT Trimmed -71K -$8.8M
KT Price move only +0 -$1.1M

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
HDB Sept. 30, 2025 743,077 $56,971,714 -34.4%
GDS June 30, 2025 1,342,258 $33,999,395 1.5%
BEDU Dec. 31, 2025 670,589 $1,307,649 No longer tracked
PDD June 30, 2025 9,700 $1,147,995 -25.1%