Performance vs S&P 500

03
Tracked Q3 2025–Q2 2026 -59.6%
S&P 500 total return (same window) +13.0%
Excess return -72.6%

Annualized: -70.2% · 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: 100.0% · Options excluded: 0.0%

Sector breakdown

04
Financials 80.2%
Industrials 19.8%

Full portfolio 3 positions

05
Type Streak 8Q trend
FIGR Figure Technology Solutions, Inc. - Class A Common Stock $68,391,600 40.45% 2,227,014 $-36,491,867 Down ×2
MIAX Miami International Holdings, Inc. Common Stock $67,156,815 39.72% 1,807,234 Up ×1
FWDI Forward Industries, Inc. - Common Stock $33,539,897 19.84% 7,947,843 $-1,669,048

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
MIAX $67,156,815 1,807,234 39.72%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
FIGR Trimmed -862K -$36.5M
FWDI Price move only +0 -$1.7M