Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +18.9%
S&P 500 total return (same window) +37.0%
Excess return -18.1%

Annualized: +14.9% · 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: 99.5% · Options excluded: 0.0%

Sector breakdown

04
Industrials 21.3%
Technology 19.5%
Financials 18.1%
Retail 16.0%
Healthcare 9.1%
Communication Services 6.0%
Materials 2.6%
Energy 2.1%
Consumer Discretionary 0.7%
Utilities 0.6%
Consumer Staples 0.4%
Consumer products 0.3%
Real Estate 0.1%
Other/Unmapped 3.2%

Full portfolio 261 positions

05
Type Streak 8Q trend
AAPL Apple Inc. - Common Stock $79,984,013 5.89% 276,417 $9,389,626 Down ×6
MRVL Marvell Technology, Inc. - Common Stock $71,013,253 5.23% 238,388 $46,569,495 Down ×2
JPM JP Morgan Chase & Co. Common Stock $67,605,804 4.98% 206,537 $6,426,855 Down ×6
AMZN Amazon.com, Inc. - Common Stock $64,875,602 4.78% 272,198 $7,725,680 Down ×3
COST Costco Wholesale Corporation - Common Stock $58,556,448 4.31% 62,596 $-3,941,884 Down ×2
GOOGL Alphabet Inc. - Class A Common Stock $55,801,468 4.11% 156,145 $10,322,991 Down ×5
TJX TJX Companies, Inc. (The) Common Stock $49,538,774 3.65% 326,989 $-3,068,259 Down ×3
LLY Eli Lilly and Company Common Stock $48,437,343 3.57% 40,384 $11,348,767 Up ×1
BAC Bank of America Corporation Common Stock $44,772,451 3.30% 785,757 $6,177,012 Down ×3
WM Waste Management, Inc. Common Stock $44,685,145 3.29% 200,490 $-2,809,431 Down ×2
MSFT Microsoft Corporation - Common Stock $43,943,999 3.24% 117,806 $316,931 Down ×5
HD Home Depot, Inc. (The) Common Stock $41,224,772 3.04% 116,890 $2,625,962 Down ×3
BX Blackstone Inc. Common Stock $36,519,205 2.69% 310,353 $565,735 Down ×3
MA Mastercard Incorporated Common Stock $36,083,423 2.66% 70,256 $626,940 Down ×3
V Visa Inc. $35,006,674 2.58% 102,034 $4,168,673 Up ×1
CPRT Copart, Inc. - Common Stock $34,761,264 2.56% 1,233,106 $-6,169,728 Up ×1
OPLN OPENLANE, Inc. Common Stock $31,446,944 2.32% 762,535 $8,713,325 Down ×2
OC Owens Corning Inc Common Stock New $31,144,310 2.29% 195,925 $9,908,250 Down ×3
IBM International Business Machines Corporation Common Stock $30,397,677 2.24% 108,096 $4,785,537 Up ×4
WCN Waste Connections, Inc. Common Shares $29,889,559 2.20% 179,312 $481,055 Down ×2
UNP Union Pacific Corporation Common Stock $27,826,636 2.05% 102,304 $3,005,686
BA Boeing Company (The) Common Stock $25,479,896 1.88% 117,706 $2,167,838 Up ×1
UBER Uber Technologies, Inc. Common Stock $24,465,271 1.80% 339,042 $106,104 Up ×1
DOV Dover Corporation Common Stock $21,530,880 1.59% 96,000 $1,519,680
MRK Merck & Company, Inc. Common Stock (new) $20,583,002 1.52% 160,179 $1,315,070
LIN Linde plc - Ordinary Shares $18,605,556 1.37% 35,853 $857,843 Up ×6
REGN Regeneron Pharmaceuticals, Inc. - Common Stock $17,253,976 1.27% 27,671 $8,866,196 Up ×3
NVDA NVIDIA Corporation - Common Stock $16,796,556 1.24% 83,945 $2,126,028 Down ×1
Unknown issuer (CUSIP: 438516205) $14,547,489 1.07% 64,973 Up ×1
Unknown issuer (CUSIP: 43849R105) $14,164,375 1.04% 64,069 Up ×1
XOM Exxon Mobil Corporation Common Stock $13,286,450 0.98% 97,180 $-3,201,109
MDT Medtronic plc. Ordinary Shares $12,803,983 0.94% 163,671 $-1,916,986 Down ×1
CSCO Cisco Systems, Inc. - Common Stock $11,513,665 0.85% 98,022 $3,967,727 Up ×2
ENPH Enphase Energy, Inc. - Common Stock $10,086,224 0.74% 204,838 $9,419,747 Up ×2
EMR Emerson Electric Company Common Stock $9,810,786 0.72% 68,535 $824,779 Down ×1
Unknown issuer (CUSIP: 25382K100) $8,984,729 0.66% 1,093,033 Up ×1
STX Seagate Technology Holdings PLC - Ordinary Shares (Ireland) $8,709,125 0.64% 9,025 $5,173,491
NUE Nucor Corporation Common Stock $8,300,779 0.61% 37,265 $1,965,447 Down ×1
ABBV AbbVie Inc. Common Stock $7,714,276 0.57% 30,656 $1,046,902
CAC Camden National Corporation - Common Stock $7,443,810 0.55% 137,289 $879,624 Down ×6
MCD McDonald's Corporation Common Stock $7,271,610 0.54% 26,901 $-1,088,952
MTB M&T Bank Corporation Common Stock $7,128,400 0.53% 29,950 $937,136
CVX Chevron Corporation Common Stock $6,702,175 0.49% 40,433 $-1,663,413
NEE NextEra Energy, Inc. Common Stock $5,979,244 0.44% 68,124 $-375,978 Down ×1
NFLX Netflix, Inc. - Common Stock $5,699,363 0.42% 79,823 $5,372,933 Up ×3
AMGN Amgen Inc. - Common Stock $5,156,589 0.38% 14,240 $146,245
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $5,131,288 0.38% 66,176 $-1,023,080
GE GE Aerospace Common Stock $3,849,046 0.28% 10,299 $926,498
GOOG Alphabet Inc. - Class C Capital Stock $3,744,945 0.28% 10,599 $668,658 Down ×6
AXP American Express Company Common Stock $3,739,354 0.28% 11,055 $929,012 Up ×3
PG Procter & Gamble Company (The) Common Stock $2,904,059 0.21% 19,804 $43,569
TRV The Travelers Companies, Inc. Common Stock $2,810,642 0.21% 8,514 $327,278
STE STERIS plc (Ireland) Ordinary Shares $2,667,080 0.20% 12,666 $-133,753
JNJ Johnson & Johnson Common Stock $2,603,193 0.19% 10,250 $48,795 Down ×1
ABT Abbott Laboratories Common Stock $2,132,935 0.16% 23,506 $-280,427
MRSH Marsh Common Stock $2,105,043 0.16% 12,630 $-85,631
SXT Sensient Technologies Corporation Common Stock $2,052,779 0.15% 16,650 $613,553
GLD SPDR Gold Shares $1,985,569 0.15% 5,390 $-333,695
LITE Lumentum Holdings Inc. - Common Stock $1,934,068 0.14% 2,254 $265,715 Down ×4
KIM Kimco Realty Corporation (HC) Common Stock $1,726,969 0.13% 68,125 $196,200
GEV GE Vernova Inc. Common Stock $1,618,958 0.12% 1,378 $416,101
MTX Minerals Technologies Inc. Common Stock $1,592,723 0.12% 21,532 $65,673
ECL Ecolab Inc. Common Stock $1,576,376 0.12% 5,658 $71,234
SYY Sysco Corporation Common Stock $1,387,345 0.10% 16,599 $203,338
PM Philip Morris International Inc Common Stock $1,320,101 0.10% 7,297 $113,615
MDLZ Mondelez International, Inc. - Class A Common Stock $1,290,237 0.10% 22,307 $4,461
FNLC First Bancorp, Inc (ME) - Common Stock $1,240,463 0.09% 35,625 $241,894
EOG EOG Resources, Inc. Common Stock $1,219,462 0.09% 9,400 $-139,496
UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) $1,130,016 0.08% 18,796 $59,207
NVS Novartis AG Common Stock $1,073,532 0.08% 6,850 $27,194
PANW Palo Alto Networks, Inc. - Common Stock $1,044,886 0.08% 3,064 $563,926 Up ×1
PFE Pfizer, Inc. Common Stock $1,034,863 0.08% 42,976 $-171,904
VST Vistra Corp. Common Stock $999,369 0.07% 6,300 $67,323 Up ×1
UTZ Utz Brands Inc Class A Common Stock $990,097 0.07% 128,584 $546,703 Up ×2
TT Trane Technologies plc $987,232 0.07% 2,010 $74,571 Down ×1
GNR SPDR INDEX SHARES FUNDS $975,995 0.07% 14,500 $-106,720
BMY Bristol-Myers Squibb Company Common Stock $894,551 0.07% 15,525 $-47,041
CMCSA Comcast Corporation - Class A Common Stock $853,800 0.06% 34,778 $-144,677
KR Kroger Company (The) Common Stock $849,609 0.06% 15,300 $-257,499
QCOM QUALCOMM Incorporated - Common Stock $757,639 0.06% 4,100 $229,641
Q Qnity Electronics, Inc. Common Stock $756,779 0.06% 4,634 $222,108
COP ConocoPhillips Common Stock $712,126 0.05% 6,850 $-192,074
NI NiSource Inc Common Stock $663,323 0.05% 13,950 $12,416
GPC Genuine Parts Company Common Stock $648,890 0.05% 5,500 $67,265
META Meta Platforms, Inc. - Class A Common Stock $624,689 0.05% 1,109 $37,111 Up ×1
KO Coca-Cola Company (The) Common Stock $601,398 0.04% 7,400 $38,628
CTVA Corteva, Inc. Common Stock $563,274 0.04% 6,651 $6,518
IFF International Flavors & Fragrances, Inc. Common Stock $531,884 0.04% 6,714 $44,783
NWSA News Corporation - Class A Common Stock $516,762 0.04% 20,812 $-2,082
SJM The J.M. Smucker Company Common Stock $506,250 0.04% 4,500 $72,270
FUL H. B. Fuller Company Common Stock $489,636 0.04% 8,400 $-28,476
VOO VANGUARD INDEX FUNDS $476,417 0.04% 694 $70,679 Up ×1
TXN Texas Instruments Incorporated - Common Stock $447,105 0.03% 1,500 $155,895
Unknown issuer (CUSIP: 26614N201) $418,992 0.03% 3,089 Up ×1
WEN Wendy's Company (The) - Common Stock $417,443 0.03% 50,355 $67,475
PLTR Palantir Technologies Inc. - Class A Common Stock $398,079 0.03% 3,412 $36,328 Up ×3
SPY SPY $397,282 0.03% 532 $51,301
DIS Walt Disney Company (The) Common Stock $380,318 0.03% 3,951 $-12,418,572 Down ×1
DOW Dow Inc. Common Stock $348,239 0.03% 12,728 $-181,883
BALL Ball Corporation Common Stock $328,536 0.02% 5,265 $17,321

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
IBM $30,397,677 2.24% up ×4
LIN $18,605,556 1.37% up ×6
REGN $17,253,976 1.27% up ×3
NFLX $5,699,363 0.42% up ×3
AXP $3,739,354 0.28% up ×3
PLTR $398,079 0.03% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 438516205) $14,547,489 64,973 1.07%
Unknown issuer (CUSIP: 43849R105) $14,164,375 64,069 1.04%
Unknown issuer (CUSIP: 25382K100) $8,984,729 1,093,033 0.66%
Unknown issuer (CUSIP: 26614N201) $418,992 3,089 0.03%
FNV $75,039 360 0.01%
Unknown issuer (CUSIP: 314352105) $26,425 175 0.00%
Unknown issuer (CUSIP: 84615Q103) $17,086 100 0.00%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MRVL Trimmed -8K +$46.6M
LLY Bought more +60 +$11.3M
GOOGL Trimmed -2K +$10.3M
OC Trimmed -305 +$9.9M
AAPL Trimmed -2K +$9.4M
REGN Bought more +17K +$8.9M
OPLN Trimmed -17K +$8.7M
AMZN Trimmed -2K +$7.7M
JPM Trimmed -1K +$6.4M
BAC Trimmed -6K +$6.2M

3 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
HON June 30, 2026 129,687 $29,313,232 -4.4%
DMRC June 30, 2026 838,695 $4,117,991 -22.6%
TRV June 30, 2025 8,536 $2,257,431 34.7%
UL (filed as ULXXXX) Dec. 31, 2025 21,600 $1,280,448 -8.7%
DD June 30, 2026 9,272 $424,658 -4.2%
WSM Dec. 31, 2025 2,144 $418,964 30.1%
HES Sept. 30, 2025 3,000 $415,620 No longer tracked
IP Dec. 31, 2025 8,000 $371,200 -18.8%
GD June 30, 2025 1,000 $272,580 13.2%
CMG June 30, 2025 5,000 $251,050 -42.4%
EXAS March 31, 2026 1,997 $202,816 No longer tracked
MO Dec. 31, 2025 2,779 $183,596 16.8%
MVF Dec. 31, 2025 26,032 $178,577 No longer tracked
MVT Dec. 31, 2025 13,238 $140,716 No longer tracked
MMM June 30, 2026 800 $116,184 0.0%
SYK Dec. 31, 2025 250 $92,418 -21.6%
DCOM June 30, 2026 2,729 $92,287 -1.9%
AMAT Dec. 31, 2025 436 $89,350 110.1%
PARA Sept. 30, 2025 6,579 $84,870
RTX Dec. 31, 2025 456 $76,303 0.7%
TD Dec. 31, 2025 883 $70,593 25.1%
PML Dec. 31, 2025 8,272 $65,428 -13.1%
ESGD Sept. 30, 2025 692 $61,741
PMF Sept. 30, 2025 7,712 $61,543 No longer tracked
RTX June 30, 2025 456 $60,402 26.5%
FN Sept. 30, 2025 200 $58,936 27.2%
SWKS Sept. 30, 2025 750 $55,890 10.5%
INTU March 31, 2026 75 $49,682 -35.0%
SHAK June 30, 2025 500 $44,085 -56.6%
ESGE Sept. 30, 2025 1,124 $44,028
DGS Sept. 30, 2025 763 $42,149
RSPT Sept. 30, 2025 910 $37,110 48.9%
TGT June 30, 2025 350 $36,526 58.1%
CDW March 31, 2026 250 $34,050 10.1%
ROP March 31, 2026 75 $33,385 0.1%
SLVM Dec. 31, 2025 726 $32,104 -32.5%
EL March 31, 2026 300 $31,416 28.1%
ESML Sept. 30, 2025 747 $30,874
MOS March 31, 2026 1,200 $28,908 -17.4%
WFCPRL June 30, 2026 25 $28,875 No longer tracked
FOXA Sept. 30, 2025 500 $28,020 -1.2%
NULV Sept. 30, 2025 662 $27,748
FISV March 31, 2026 400 $26,868 -20.5%
MET Dec. 31, 2025 300 $24,711 19.6%
CORP Sept. 30, 2025 247 $24,036
ROBO Sept. 30, 2025 401 $23,972
DNP June 30, 2026 2,000 $20,600 -11.3%
BAPRA June 30, 2026 300 $19,464 No longer tracked
SKX Sept. 30, 2025 300 $18,930 No longer tracked
WBA Sept. 30, 2025 1,600 $18,368 No longer tracked
PTA Dec. 31, 2025 800 $16,328 -10.2%
APO Sept. 30, 2025 112 $15,890 -14.4%
GLW Sept. 30, 2025 300 $15,777 100.2%
VIGI Sept. 30, 2025 172 $15,501
JFR Dec. 31, 2025 1,823 $14,913 -6.1%
EVTC Dec. 31, 2025 401 $13,533 -6.4%
FSK Dec. 31, 2025 902 $13,467 -25.9%
VLO June 30, 2025 100 $13,207 202.3%
MRP March 31, 2026 412 $12,307 -12.1%
PLAY June 30, 2025 700 $12,299 -77.6%
BCSF Dec. 31, 2025 800 $11,400 -20.6%
LEMB Sept. 30, 2025 275 $11,108
ADP Sept. 30, 2025 36 $11,103 -12.2%
CNQ Sept. 30, 2025 350 $10,990 51.6%
SOLV Dec. 31, 2025 150 $10,950 10.9%
NDLS June 30, 2025 10,000 $10,900 135.9%
ASGI Dec. 31, 2025 500 $10,565 -14.7%
KXI Sept. 30, 2025 161 $10,527 3.5%
PPT June 30, 2026 2,529 $8,978 -6.3%
OXY Sept. 30, 2025 200 $8,402 22.9%
APH Sept. 30, 2025 84 $8,295 -29.7%
TLT Sept. 30, 2025 73 $6,443
BLK Sept. 30, 2025 6 $6,296 -9.1%
SEE Dec. 31, 2025 178 $6,293 No longer tracked
EMN Sept. 30, 2025 72 $5,376 2.9%
UFI Sept. 30, 2025 1,000 $5,220 37.4%
GWW Sept. 30, 2025 5 $5,202 34.3%
CMP Sept. 30, 2025 200 $4,018 15.6%
NMAX Dec. 31, 2025 300 $3,720 23.2%
LLYVK (filed as LLYVKXXXX) Dec. 31, 2025 32 $3,104 17.7%
CCJ Dec. 31, 2025 23 $1,929 -6.9%
SCHW Dec. 31, 2025 19 $1,814 -3.2%
FWONK Sept. 30, 2025 17 $1,777 -12.7%
SPGI Dec. 31, 2025 3 $1,461 -26.1%
MCO Dec. 31, 2025 3 $1,430 -13.6%
ALC Dec. 31, 2025 18 $1,342 -19.1%
TDG Dec. 31, 2025 1 $1,319 -18.0%
KWEB Dec. 31, 2025 29 $1,219
CC March 31, 2026 100 $1,179 -37.8%
ZIMV Dec. 31, 2025 60 $1,137 No longer tracked
EWJ Dec. 31, 2025 13 $1,043
TMO Dec. 31, 2025 2 $971 13.0%
CP Dec. 31, 2025 12 $894 16.7%
HDB Dec. 31, 2025 26 $889 -38.9%
NU Dec. 31, 2025 55 $881 -19.8%
SSNC Dec. 31, 2025 9 $799 -10.2%
FWONA Sept. 30, 2025 8 $760 -12.4%
VIST Dec. 31, 2025 22 $757 32.0%
OKTA Dec. 31, 2025 8 $734 144.6%
EXPE Sept. 30, 2025 4 $675 24.0%
CNI Dec. 31, 2025 7 $661 21.2%
LLYVA Sept. 30, 2025 8 $636 1.5%
ESTC Dec. 31, 2025 6 $507 24.5%
CFLT Dec. 31, 2025 24 $476 No longer tracked
GPK Dec. 31, 2025 24 $470 -41.7%
FIVE Dec. 31, 2025 3 $465 17.4%
HPQ June 30, 2025 15 $416 31.3%
ZM Sept. 30, 2025 5 $390 12.6%
SU Dec. 31, 2025 9 $377 56.8%
SNREY Sept. 30, 2025 6 $340 No longer tracked
XPEL Dec. 31, 2025 10 $331 -9.9%
ACVA Dec. 31, 2025 33 $328 30.3%
STM Dec. 31, 2025 10 $283 120.7%
BATRK Sept. 30, 2025 6 $281 25.1%
VRN June 30, 2025 42 $279 No longer tracked
HPE June 30, 2025 15 $232 239.0%
PCG June 30, 2025 13 $224 -11.6%
WSC Dec. 31, 2025 10 $212 -8.1%
CNDT June 30, 2025 75 $203 -37.5%
BATRA Sept. 30, 2025 3 $148 26.7%
PTNT June 30, 2025 2 $2