Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +43.8%
S&P 500 total return (same window) +37.0%
Excess return +6.8%

Annualized: +33.7% · 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: 97.3% · Options excluded: 0.3%

Sector breakdown

04
Communication Services 25.0%
Retail 24.2%
Financials 20.8%
Technology 11.4%
Consumer Discretionary 9.2%
Consumer Staples 1.7%
Healthcare 1.2%
Materials 0.8%
Energy 0.7%
Industrials 0.5%
Other/Unmapped 4.5%

Full portfolio 51 positions

05
Type Streak 8Q trend
GOOG Alphabet Inc. - Class C Capital Stock $16,845,714 15.14% 47,677 $2,910,916 Down ×2
C Citigroup, Inc. Common Stock $15,632,692 14.05% 111,694 $-550,235 Down ×1
AMZN Amazon.com, Inc. - Common Stock $12,887,044 11.58% 54,070 $400,216 Down ×1
CHWY Chewy, Inc. Class A Common Stock $7,680,713 6.90% 390,876 $2,253,713 Up ×4
DIS Walt Disney Company (The) Common Stock $7,377,659 6.63% 76,651 $-9,964
BX Blackstone Inc. Common Stock $5,663,222 5.09% 48,128 $3,185,417 Up ×1
MSFT Microsoft Corporation - Common Stock $3,654,104 3.28% 9,796 Up ×1
CPNG Coupang, Inc. Class A Common Stock $3,631,216 3.26% 209,051 $-200,876 Up ×1
MTN Vail Resorts, Inc. Common Stock $2,927,225 2.63% 21,500 $360,825 Up ×3
MSOS AdvisorShares Trust $2,674,894 2.40% 526,554 $805,627
CMG Chipotle Mexican Grill, Inc. Common Stock $2,328,354 2.09% 68,481 $360,347 Up ×3
GOOGL Alphabet Inc. - Class A Common Stock $2,265,726 2.04% 6,340 $183,792 Down ×1
NOW ServiceNow, Inc. Common Stock $2,104,736 1.89% 21,200 $243,746 Up ×2
ETSY Etsy, Inc. - Common Stock $1,943,815 1.75% 25,804 $154,331 Down ×2
CELH Celsius Holdings, Inc. - Common Stock $1,846,280 1.66% 63,056 $1,122,488 Up ×2
ABNB Airbnb, Inc. - Class A Common Stock $1,717,200 1.54% 12,000 $-492,700 Down ×1
SNOW Snowflake Inc. Common Stock $1,535,653 1.38% 6,034 $962,537 Up ×1
PLAY Dave & Buster's Entertainment, Inc. - Common Stock $1,281,246 1.15% 112,390 $129,367 Up ×4
GM General Motors Company Common Stock $924,960 0.83% 12,000 $30,960
BLND Blend Labs, Inc. Class A Common Stock $835,648 0.75% 488,683 $4,887
NESR National Energy Services Reunited Corp - Ordinary Shares $817,987 0.74% 27,330 $59,452 Down ×3
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $815,830 0.73% 8,500 $-250,580
SHAZ SharonAI Holdings, Inc. - Class A Common Stock $810,281 0.73% 9,571 Up ×1
FWONK Liberty Media Corporation - Series C Liberty Formula One Common Stock $786,142 0.71% 8,263 $296,172 Up ×1
ZS Zscaler, Inc. - Common Stock $776,325 0.70% 5,500 $504,583 Up ×2
XYZ Block, Inc. Class A Common Stock, $773,224 0.69% 10,174 $160,953
BHC Bausch Health Companies Inc. Common Stock $739,500 0.66% 150,000 Up ×1
NBIS Nebius Group N.V. - Class A Ordinary Shares $718,042 0.65% 2,600 $475,970 Up ×1
BAC Bank of America Corporation Common Stock $717,663 0.64% 12,595
XBI SPDR SERIES TRUST $633,000 0.57% 4,000 Up ×1
BIDU Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share $585,736 0.53% 5,125 $14,708
EXPE Expedia Group, Inc. - Common Stock $562,936 0.51% 2,200 $54,978
LZ LegalZoom.com, Inc. - Common Stock $551,700 0.50% 90,000 $2,940 Down ×1
MDB MongoDB, Inc. - Class A Common Stock $537,440 0.48% 1,600 $145,808
Unknown issuer (CUSIP: 09940T100) $506,238 0.45% 13,044 Up ×1
OKTA Okta, Inc. - Class A Common Stock $498,861 0.45% 3,656 $211,097
CE Celanese Corporation Common Stock $483,000 0.43% 10,500 $-306,240 Down ×2
BLCO Bausch + Lomb Corporation Common Shares $433,359 0.39% 26,169 $-131,552 Down ×2
FCX Freeport-McMoRan, Inc. Common Stock $408,785 0.37% 6,500 $26,715
TEAM Atlassian Corporation - Class A Common Stock $388,950 0.35% 5,000 $47,700
PYPL PayPal Holdings, Inc. - Common Stock $388,620 0.35% 9,000 $-244,600 Down ×1
NN NextNav Inc. - Common stock $385,663 0.35% 21,630 Up ×1
TTAN ServiceTitan, Inc. - Class A Common Stock $347,681 0.31% 4,917 $121,763 Up ×1
WDAY Workday, Inc. - Class A Common Stock $306,050 0.28% 2,500 $-863,230 Down ×1
SHOP Shopify Inc. - Class A Subordinate Voting Shares $302,577 0.27% 2,650 $-11,766
PTON Peloton Interactive, Inc. - Common Stock $265,950 0.24% 45,000 Up ×1
SHAK Shake Shack, Inc. Class A Common Stock $262,734 0.24% 4,690 Up ×1
INTU Intuit Inc. - Common Stock $261,000 0.23% 1,000 Up ×1
TCNNF CUSIP: 89788C104 $252,562 0.23% 25,693 Up ×1
CRON Cronos Group Inc. - Common Share $109,015 0.10% 39,214 $10,588
ALIS Calisa Acquisition Corp - Ordinary shares $101,500 0.09% 10,000 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
CHWY $7,680,713 6.90% up ×4
MTN $2,927,225 2.63% up ×3
CMG $2,328,354 2.09% up ×3
PLAY $1,281,246 1.15% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
MSFT $3,654,104 9,796 3.28%
SHAZ $810,281 9,571 0.73%
BHC $739,500 150,000 0.66%
BAC $717,663 12,595 0.64%
XBI $633,000 4,000 0.57%
Unknown issuer (CUSIP: 09940T100) $506,238 13,044 0.45%
NN $385,663 21,630 0.35%
PTON $265,950 45,000 0.24%
SHAK $262,734 4,690 0.24%
INTU $261,000 1,000 0.23%
TCNNF $252,562 25,693 0.23%
ALIS $101,500 10,000 0.09%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
BX Bought more +27K +$3.2M
GOOG Trimmed -900 +$2.9M
CHWY Bought more +190K +$2.3M
CELH Bought more +43K +$1.1M
SNOW Bought more +2K +$963K
WDAY Trimmed -6K -$863K
MSOS Price move only +0 +$806K
C Trimmed -31K -$550K
ZS Bought more +4K +$505K
ABNB Trimmed -6K -$493K

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
EAT March 31, 2026 9,061 $1,300,435 28.0%
GS Dec. 31, 2025 1,300 $1,035,255 -0.4%
FTAI March 31, 2026 5,000 $984,250 -37.0%
AVDL June 30, 2025 106,120 $830,920 No longer tracked
FDX Dec. 31, 2025 3,449 $813,309
FISV March 31, 2026 11,000 $738,870 -10.6%
PD Dec. 31, 2025 41,000 $677,320 33.4%
STUB March 31, 2026 49,277 $666,718 -6.3%
GTM March 31, 2026 55,809 $567,578 -27.3%
PFE June 30, 2025 18,050 $457,387 23.9%
EWCZ June 30, 2026 75,000 $433,500 No longer tracked
BBIO June 30, 2025 11,840 $409,309 58.8%
CGNX Dec. 31, 2025 8,920 $404,076 54.4%
CYTK June 30, 2025 9,796 $393,701 85.3%
BOXL Dec. 31, 2025 157,477 $379,520 -73.6%
HOV March 31, 2026 3,800 $370,652 -8.7%
BAC March 31, 2026 6,715 $369,325 3.7%
DOW Dec. 31, 2025 16,000 $366,880 39.5%
REGN June 30, 2025 560 $355,169 53.3%
PCG March 31, 2026 19,974 $320,982 -28.1%
MDGL June 30, 2025 955 $316,325 43.5%
OKTA June 30, 2025 3,000 $315,660 113.1%
DOCU June 30, 2026 6,181 $293,041 92.0%
CRWV Sept. 30, 2025 1,700 $277,202 -60.4%
KWEB March 31, 2026 7,933 $270,119
MRUS June 30, 2025 6,368 $268,029 No longer tracked
PD June 30, 2026 42,500 $263,925 81.2%
SRPT Sept. 30, 2025 15,000 $256,500 -8.0%
CORZ Sept. 30, 2025 15,000 $256,050 -27.0%
EXEL June 30, 2025 6,650 $245,518 46.4%
BILL June 30, 2025 5,272 $241,932 9.6%
NET March 31, 2026 1,150 $226,723 57.9%
CAVA March 31, 2026 3,860 $226,543 -33.9%
ARGX June 30, 2025 380 $224,909 58.5%
TTD Sept. 30, 2025 3,070 $221,009 -73.5%
PSCE Dec. 31, 2025 5,000 $213,105
EWW June 30, 2025 4,168 $212,401
NVS June 30, 2025 1,819 $202,782 24.9%
INDV Sept. 30, 2025 13,583 $202,190 43.0%
SLQT March 31, 2026 106,330 $149,925 -51.3%
DHX March 31, 2026 65,873 $102,103 65.1%
AUPH June 30, 2025 10,450 $84,018 99.1%
GERN June 30, 2025 47,500 $75,525 -20.6%
NNDM June 30, 2026 16,000 $27,200 -6.9%
MGNX June 30, 2025 19,236 $24,430 86.0%
ALXO June 30, 2025 19,000 $11,837 181.9%