Performance vs S&P 500

03
Tracked Q4 2025–Q2 2026 +24.4%
S&P 500 total return (same window) +8.7%
Excess return +15.7%

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: 99.4% · Options excluded: 8.0%

Sector breakdown

04
Healthcare 16.2%
Industrials 11.7%
Energy 9.4%
Technology 9.4%
Consumer Discretionary 6.2%
Retail 3.3%
Financials 0.7%
Materials 0.6%
Consumer Staples 0.1%
Other/Unmapped 42.5%

Full portfolio 56 positions

05
Type Streak 8Q trend
QQQ Invesco QQQ Trust, Series 1 $662,760,000 42.03% 900,000 Put option Up ×1
TEVA Teva Pharmaceutical Industries Limited American Depositary Shares $141,644,115 8.98% 4,180,759 $25,397,692 Up ×1
DK Delek US Holdings, Inc. Common Stock $75,292,341 4.78% 1,481,841 $13,546,441 Up ×1
SEDG SolarEdge Technologies, Inc. - Common Stock $61,820,228 3.92% 1,057,841 $5,476,853 Down ×1
SHC Sotera Health Company - Common Stock $59,349,752 3.76% 3,343,648 $42,236,539 Up ×2
ILMN Illumina, Inc. - Common Stock $53,871,499 3.42% 306,384 $5,775,447 Down ×1
SMH SMH $52,471,200 3.33% 80,000 Put option Up ×1
DAC Danaos Corporation Common Stock $50,291,255 3.19% 410,977 $7,361,673 Up ×1
FLS Flowserve Corporation Common Stock $46,832,040 2.97% 631,500 $32,350,570 Up ×1
GLBE Global-E Online Ltd. - ordinary shares $45,635,220 2.89% 1,314,000 $40,853,470 Up ×2
PHIN PHINIA Inc. Common Stock $45,112,731 2.86% 547,684 $10,208,331 Up ×1
UCTT Ultra Clean Holdings, Inc. - Common Stock $42,491,820 2.69% 298,000 $20,738,023 Down ×1
FLR Fluor Corporation Common Stock $40,721,961 2.58% 777,285 $26,764,281 Up ×1
RIG Transocean Ltd (Switzerland) Common Stock $33,007,500 2.09% 6,750,000 $3,249,408 Up ×2
NMM Navios Maritime Partners LP Common Units Representing Limited Partner Interests $30,931,631 1.96% 441,439 $1,851,530 Up ×1
NXE Nexgen Energy Ltd. Common Shares $30,803,810 1.95% 3,280,491 $432,690 Up ×2
CRWV CoreWeave, Inc. - Class A Common Stock $14,622,426 0.93% 146,900 Put option $3,242,083
TTMI TTM Technologies, Inc. - Common Stock $11,595,240 0.74% 62,000 $1,853,240 Down ×2
ONTO Onto Innovation Inc. Common Stock $7,190,550 0.46% 19,000 $1,038,450 Down ×1
OKTA Okta, Inc. - Class A Common Stock $6,822,500 0.43% 50,000 $3,674,100 Up ×1
VECO Veeco Instruments Inc. - Common Stock $6,367,200 0.40% 84,000 Up ×1
XYZ Block, Inc. Class A Common Stock, $6,080,000 0.39% 80,000 $1,265,600
AMZN Amazon.com, Inc. - Common Stock $5,720,160 0.36% 24,000 $721,680
PANW Palo Alto Networks, Inc. - Common Stock $3,751,220 0.24% 11,000 $1,186,100 Down ×1
IBKR Interactive Brokers Group, Inc. - Class A Common Stock $3,481,600 0.22% 40,000 $798,800
KRE SPDR SERIES TRUST $2,878,731 0.18% 38,460 Up ×1
GLD SPDR Gold Shares $1,858,477 0.12% 5,045 $-312,336
NET Cloudflare, Inc. Class A Common Stock $1,716,960 0.11% 7,000 Up ×1
VALE VALE S.A. American Depositary Shares Each Representing one common share $1,610,784 0.10% 107,100 $-93,177
VALE VALE S.A. American Depositary Shares Each Representing one common share $1,594,240 0.10% 106,000 Call option $-25,548,220 Down ×2
ADM Archer-Daniels-Midland Company Common Stock $1,579,570 0.10% 20,675 $832,680 Up ×1
PARR Par Pacific Holdings, Inc. Common Stock $1,482,755 0.09% 26,440 $-525,797 Down ×1
TWLO Twilio Inc. Class A Common Stock $1,444,310 0.09% 7,000 Up ×1
AEM Agnico Eagle Mines Limited Common Stock $1,427,196 0.09% 9,200 $-440,220
SLB SLB Limited Common Shares $1,365,411 0.09% 29,370 $-303,222 Down ×1
MDB MongoDB, Inc. - Class A Common Stock $1,343,600 0.09% 4,000 Up ×1
XOM Exxon Mobil Corporation Common Stock $1,279,699 0.08% 9,360 $-308,319
HAL Halliburton Company Common Stock $1,278,218 0.08% 37,650 $-360,337 Down ×1
DAL Delta Air Lines, Inc. Common Stock $1,252,703 0.08% 13,375 Up ×1
NTR Nutrien Ltd. Common Shares $1,221,230 0.08% 19,400 $153,471 Up ×1
SIL Global X Funds $1,192,884 0.08% 15,400 $-194,348
PBR Petroleo Brasileiro S.A. Petrobras ADS $1,163,520 0.07% 72,000 $-330,480
SCCO Southern Copper Corporation Common Stock $1,085,466 0.07% 6,229 $24,200 Up ×2
SLV iShares Silver Trust $1,074,747 0.07% 20,100 $-294,867
AKAM Akamai Technologies, Inc. - Common Stock $1,063,890 0.07% 9,000 Up ×1
NSC Norfolk Southern Corporation Common Stock $1,049,158 0.07% 3,335 $92,013
VAL Valaris Limited Common Shares $1,037,817 0.07% 14,295 $-557,784 Down ×1
GDXJ VanEck Junior Gold Miners ETF $1,016,888 0.06% 10,350 $-1,068,207 Down ×1
ITUB Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares) $976,315 0.06% 119,500 $-25,095
COP ConocoPhillips Common Stock $954,353 0.06% 9,180 $155,753 Up ×1
MP MP Materials Corp. Common Stock $908,202 0.06% 16,215 $125,666
RGLD Royal Gold, Inc. - Common Stock $818,401 0.05% 4,100 $-225,008
GLNG Golar LNG Limited - Common Shares $797,440 0.05% 16,000 $-68,320
SBLK Star Bulk Carriers Corp. - Common Shares $755,842 0.05% 30,270 $60,540
GNK Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) $526,947 0.03% 21,265 $-295,339 Down ×1
BAK Braskem SA ADR $290,360 0.02% 119,000 $-133,102 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
QQQ $662,760,000 900,000 42.03%
SMH $52,471,200 80,000 3.33%
VECO $6,367,200 84,000 0.40%
KRE $2,878,731 38,460 0.18%
NET $1,716,960 7,000 0.11%
TWLO $1,444,310 7,000 0.09%
MDB $1,343,600 4,000 0.09%
DAL $1,252,703 13,375 0.08%
AKAM $1,063,890 9,000 0.07%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SHC Bought more +2.2M +$42.2M
FLS Bought more +434K +$32.4M
FLR Bought more +478K +$26.8M
TEVA Bought more +321K +$25.4M
UCTT Trimmed -52K +$20.7M
DK Bought more +112K +$13.5M
PHIN Bought more +38K +$10.2M
DAC Bought more +30K +$7.4M
ILMN Trimmed -84K +$5.8M
SEDG Trimmed -46K +$5.5M

2 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
TEAM March 31, 2026 230,700 $37,405,698 183.9%
FCX March 31, 2026 650,000 $33,013,500 23.1%
CSGP March 31, 2026 461,000 $30,997,640 -32.4%
Q June 30, 2026 221,600 $25,568,208 -19.0%
PRGO March 31, 2026 1,760,000 $24,499,200 33.4%
LW March 31, 2026 562,314 $23,555,333 3.5%
GDX March 31, 2026 244,630 $20,981,915 -5.4%
DD March 31, 2026 449,610 $18,074,322 186.3%
AER June 30, 2026 125,000 $17,147,500 -0.2%
VRNS March 31, 2026 480,000 $15,744,000 123.8%
CIEN June 30, 2026 27,665 $10,740,383 -21.1%
MNDY March 31, 2026 30,000 $4,426,800 17.7%
META March 31, 2026 6,000 $3,960,540 29.2%
MSFT March 31, 2026 8,000 $3,868,960 42.7%
CHKP June 30, 2026 26,000 $3,714,100 -1.9%
FRSH March 31, 2026 250,000 $3,062,500 62.5%
LFUS June 30, 2026 8,000 $2,714,800 -0.3%
MICC March 31, 2026 127,691 $2,023,902 15.1%
WPM March 31, 2026 13,695 $1,609,436 3.0%
CMI March 31, 2026 3,085 $1,574,738 -2.6%
IBIT June 30, 2026 40,000 $1,536,800
PYPL June 30, 2026 30,000 $1,356,900 24.1%
MSI June 30, 2026 3,000 $1,301,910 8.7%
CVI June 30, 2026 33,385 $1,123,405 100.7%
AEIS June 30, 2026 3,000 $968,130 -20.0%
RTX June 30, 2026 4,150 $800,535 -3.1%
CRCL March 31, 2026 10,000 $793,000 -12.5%
KTOS June 30, 2026 11,015 $776,668 -13.1%
SUZ June 30, 2026 75,000 $750,750 10.6%
MOS June 30, 2026 27,150 $692,325 -0.3%