Performance vs S&P 500

03
Tracked Q1 2025–Q3 2025 +13.3%
S&P 500 total return (same window) +21.3%
Excess return -7.9%

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
Technology 35.8%
Industrials 22.9%
Financials 13.2%
Healthcare 10.0%
Communication Services 5.8%
Retail 4.8%
Real Estate 2.8%
Consumer Discretionary 2.5%
Materials 1.1%
Consumer products 1.1%

Full portfolio 47 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $19,218,486 7.77% 103,004 $-1,688,963 Down ×3
MSFT Microsoft Corporation - Common Stock $18,045,378 7.30% 34,840 $-3,632,247 Down ×3
GOOGL Alphabet Inc. - Class A Common Stock $14,254,655 5.76% 58,637 $3,745,179 Down ×3
AAON AAON, Inc. - Common Stock $12,496,105 5.05% 133,734 $9,161,278 Up ×1
CYBR CyberArk Software Ltd. - Ordinary Shares $12,096,143 4.89% 25,036 Up ×1
AMZN Amazon.com, Inc. - Common Stock $11,949,219 4.83% 54,421 $-2,732,799 Down ×3
VRT Vertiv Holdings, LLC Class A Common Stock $9,559,093 3.87% 63,364 $-1,345,356 Down ×2
MEDP Medpace Holdings, Inc. - Common Stock $9,174,157 3.71% 17,843 $6,247,099 Up ×1
CDNS Cadence Design Systems, Inc. - Common Stock $7,779,355 3.15% 22,147 Up ×1
SBAC SBA Communications Corporation - Class A Common Stock $6,931,598 2.80% 35,850 $-2,544,901 Down ×2
BA Boeing Company (The) Common Stock $6,647,348 2.69% 30,799 $84,240 Down ×3
MA Mastercard Incorporated Common Stock $5,887,752 2.38% 10,351 $-1,886,688 Down ×3
ASML ASML Holding N.V. - New York Registry Shares $5,872,434 2.37% 6,066 $928,659 Down ×3
FOUR Shift4 Payments, Inc. Class A Common Stock $5,735,340 2.32% 74,100 Up ×1
SPGI S&P Global Inc. Common Stock $5,263,769 2.13% 10,815 $-535,894 Down ×2
V Visa Inc. $5,177,710 2.09% 15,167 $-1,787,661 Down ×3
CP Canadian Pacific Kansas City Limited Common Shares $4,854,439 1.96% 65,169 $-399,497 Down ×3
WM Waste Management, Inc. Common Stock $4,460,766 1.80% 20,200 $-240,112 Down ×3
CME CME Group Inc. - Class A Common Stock $4,329,525 1.75% 16,024 $-1,452,431 Down ×3
CLH Clean Harbors, Inc. Common Stock $3,954,474 1.60% 17,029 $-1,093,341 Down ×3
WDAY Workday, Inc. - Class A Common Stock $3,937,139 1.59% 16,355 $-55,021 Down ×3
NOW ServiceNow, Inc. Common Stock $3,754,742 1.52% 4,080 $-1,962,411 Down ×3
ENTG Entegris, Inc. - Common Stock $3,724,011 1.51% 40,277 $-965,061 Down ×3
AMD Advanced Micro Devices, Inc. - Common Stock $3,713,242 1.50% 22,951 $18,734 Down ×3
HXL Hexcel Corporation Common Stock $3,672,088 1.48% 58,566 $-569,972 Down ×3
UBER Uber Technologies, Inc. Common Stock $3,513,400 1.42% 35,862 $110,469 Down ×3
WH Wyndham Hotels & Resorts, Inc. Common Stock $3,427,550 1.39% 42,898 $-1,039,406 Down ×3
ISRG Intuitive Surgical, Inc. - Common Stock $3,189,197 1.29% 7,131 $-751,612 Down ×3
IQV IQVIA Holdings, Inc. Common Stock $3,074,179 1.24% 16,185 $480,090 Down ×1
SITE SiteOne Landscape Supply, Inc. Common Stock $2,958,021 1.20% 22,966 $-603,420 Down ×2
LLY Eli Lilly and Company Common Stock $2,826,152 1.14% 3,704 $-110,338 Down ×3
SBUX Starbucks Corporation - Common Stock $2,769,043 1.12% 32,731 $-281,136 Down ×3
LIN Linde plc - Ordinary Shares $2,717,000 1.10% 5,720 $-855,337 Down ×3
KNSL Kinsale Capital Group, Inc. Common Stock $2,708,481 1.10% 6,369 $-65,234 Up ×1
ESTC Elastic N.V. Ordinary Shares $2,706,553 1.09% 32,034 $-757,302 Down ×2
ACLS Axcelis Technologies, Inc. - Common Stock $2,668,989 1.08% 27,335 $226,424 Down ×2
BLD TopBuild Corp. Common Stock $2,644,168 1.07% 6,765 $-163,629 Down ×3
OKTA Okta, Inc. - Class A Common Stock $2,599,603 1.05% 28,349 $-1,034,307 Down ×3
TECH Bio-Techne Corp - Common Stock $2,484,770 1.00% 44,666 $-461,874 Down ×3
HWM Howmet Aerospace Inc. Common Stock $2,423,244 0.98% 12,349 $-524,125 Down ×3
STVN Stevanato Group S.p.A. Ordinary Shares $2,402,012 0.97% 93,282 $-2,304,892 Down ×3
SSD Simpson Manufacturing Company, Inc. Common Stock $2,112,173 0.85% 12,613 $-399,656 Down ×3
LC LendingClub Corporation Common Stock $1,862,643 0.75% 122,623 $-2,014,638 Down ×3
ALGN Align Technology, Inc. - Common Stock $1,697,482 0.69% 13,556 $-2,626,058 Down ×2
RYAN Ryan Specialty Holdings, Inc. Class A Common Stock $1,586,139 0.64% 28,143 $-867,348 Down ×3
BILL BILL Holdings, Inc. Common Stock $1,493,595 0.60% 28,197 $-2,071,941 Down ×3
NCNO nCino, Inc. - Common Stock $970,158 0.39% 35,786 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
CYBR $12,096,143 25,036 4.89%
CDNS $7,779,355 22,147 3.15%
FOUR $5,735,340 74,100 2.32%
NCNO $970,158 35,786 0.39%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
AAON Bought more +89K +$9.2M
MEDP Bought more +9K +$6.2M
GOOGL Trimmed -998 +$3.7M
MSFT Trimmed -9K -$3.6M
AMZN Trimmed -13K -$2.7M
ALGN Trimmed -9K -$2.6M
SBAC Trimmed -5K -$2.5M
STVN Trimmed -99K -$2.3M
BILL Trimmed -49K -$2.1M
LC Trimmed -200K -$2.0M

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
GO June 30, 2025 1,440,220 $20,134,276 -6.4%
WAB June 30, 2025 71,593 $12,983,391 37.3%
CPRT June 30, 2025 72,143 $4,082,572 -44.5%
SNPS Sept. 30, 2025 7,608 $3,900,469 -0.7%
MKTX Sept. 30, 2025 16,274 $3,634,635 -5.8%
KKR Sept. 30, 2025 26,772 $3,561,479 -30.5%
WSC Sept. 30, 2025 129,547 $3,549,588 -18.0%
NYT Sept. 30, 2025 57,706 $3,230,382 9.2%
MOH Sept. 30, 2025 9,778 $2,912,866 -1.0%
DHR Sept. 30, 2025 14,223 $2,809,611 8.0%
UNH Sept. 30, 2025 7,971 $2,486,713 7.7%
WMG Sept. 30, 2025 87,957 $2,395,949 -21.3%
NEOG Sept. 30, 2025 345,340 $1,650,725 112.8%
PACB Sept. 30, 2025 553,103 $685,848 98.4%