Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +30.8%
S&P 500 total return (same window) +37.0%
Excess return -6.2%

Annualized: +24.0% · 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: 93.8% · Options excluded: 0.0%

Sector breakdown

04
Technology 24.7%
Communication Services 14.2%
Financials 11.4%
Healthcare 10.7%
Industrials 9.8%
Retail 5.9%
Consumer Staples 2.7%
Consumer Discretionary 1.8%
Real Estate 1.4%
Energy 1.4%
Consumer products 1.1%
Utilities 0.9%
Materials 0.1%
Other/Unmapped 14.2%

Full portfolio 195 positions

05
Type Streak 8Q trend
AVGO Broadcom Inc. - Common Stock $190,634,938 6.67% 504,659 $31,696,910 Down ×6
GOOGL Alphabet Inc. - Class A Common Stock $149,687,998 5.24% 418,860 $28,089,226 Down ×6
PANW Palo Alto Networks, Inc. - Common Stock $145,485,611 5.09% 426,619 $76,427,931 Down ×6
LLY Eli Lilly and Company Common Stock $109,583,981 3.83% 91,363 $14,987,125 Down ×4
AAPL Apple Inc. - Common Stock $104,569,916 3.66% 361,383 $13,298,288 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $94,069,817 3.29% 187,993 $3,746,846 Down ×6
MSFT Microsoft Corporation - Common Stock $87,666,090 3.07% 235,017 $803,059 Up ×1
AMZN Amazon.com, Inc. - Common Stock $86,363,452 3.02% 362,354 $10,726,245 Down ×3
NVDA NVIDIA Corporation - Common Stock $86,038,700 3.01% 430,000 $14,139,335 Up ×1
STUB StubHub Holdings, Inc. Class A Common Stock $80,174,437 2.80% 6,229,560 $41,673,387 Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $77,775,365 2.72% 76,901 $11,921,812 Down ×6
UNP Union Pacific Corporation Common Stock $70,580,464 2.47% 259,487 $7,158,383 Down ×3
SPY SPY $66,354,996 2.32% 88,856 $6,207,000 Down ×1
GOOG Alphabet Inc. - Class C Capital Stock $64,276,380 2.25% 181,916 $11,112,329 Down ×3
JPM JP Morgan Chase & Co. Common Stock $62,810,700 2.20% 191,888 $6,043,997 Down ×6
RTX RTX Corporation Common Stock $58,491,862 2.05% 308,290 $-1,559,259 Down ×3
DIS Walt Disney Company (The) Common Stock $57,808,424 2.02% 600,607 $-155,761 Down ×6
PEP PepsiCo, Inc. - Common Stock $57,239,944 2.00% 422,747 $-8,489,499 Down ×3
JNJ Johnson & Johnson Common Stock $55,465,525 1.94% 218,394 $1,313,754 Down ×6
QQQ Invesco QQQ Trust, Series 1 $46,756,982 1.64% 63,494 $8,876,081 Down ×6
COST Costco Wholesale Corporation - Common Stock $46,716,109 1.63% 49,939 $-3,131,871 Down ×6
NXPI NXP Semiconductors N.V. - Common Stock $46,068,686 1.61% 163,928 $13,786,205 Down ×6
ETN Eaton Corporation, PLC Ordinary Shares $37,300,840 1.30% 87,536 $5,867,727 Down ×6
SCHA SCHWAB STRATEGIC TRUST $35,820,546 1.25% 991,435 $5,917,670 Down ×6
CB Chubb Limited Common Stock $34,767,406 1.22% 102,035 $1,458,664 Down ×5
TMO Thermo Fisher Scientific Inc Common Stock $32,662,100 1.14% 65,147 $-2,727,077 Down ×6
PLD Prologis, Inc. Common Stock $31,564,781 1.10% 233,002 $736,704 Down ×4
XLK SELECT SECTOR SPDR TRUST $30,964,680 1.08% 162,604 $23,508,133 Up ×1
VMC Vulcan Materials Company (Holding Company) Common Stock $30,324,963 1.06% 102,793 $2,363,020 Up ×1
ISRG Intuitive Surgical, Inc. - Common Stock $29,680,449 1.04% 74,634 $-6,786,165 Down ×6
MRK Merck & Company, Inc. Common Stock (new) $28,719,236 1.00% 223,496 $1,669,623 Down ×3
CL Colgate-Palmolive Company Common Stock $26,234,232 0.92% 286,150 $1,181,811 Down ×6
NFLX Netflix, Inc. - Common Stock $25,014,490 0.87% 350,343 $-8,952,132 Down ×2
HD Home Depot, Inc. (The) Common Stock $24,643,769 0.86% 69,876 $2,021,162 Up ×3
IVV iShares Trust $23,682,276 0.83% 31,623 $5,239,434 Up ×4
META Meta Platforms, Inc. - Class A Common Stock $23,625,582 0.83% 41,942 $-258,060 Up ×2
SOXX iShares Trust $22,644,459 0.79% 35,340 Up ×1
SBUX Starbucks Corporation - Common Stock $20,712,303 0.72% 202,684 $2,552,656 Down ×6
MMM 3M Company Common Stock $19,536,061 0.68% 120,660 $2,006,800 Down ×1
SCHF SCHWAB STRATEGIC TRUST $18,391,831 0.64% 663,965 $1,329,354 Down ×6
Unknown issuer (CUSIP: 438516205) $18,321,737 0.64% 81,831 Up ×1
Unknown issuer (CUSIP: 43849R105) $18,031,064 0.63% 81,559 Up ×1
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $17,546,682 0.61% 226,292 $-4,098,324 Down ×5
GE GE Aerospace Common Stock $17,371,718 0.61% 46,482 $4,183,791 Up ×1
UITB VictoryShares Core Intermediate Bond ETF $16,640,792 0.58% 355,284 $1,877,830 Up ×2
NOC Northrop Grumman Corporation Common Stock $15,934,782 0.56% 31,287 $-5,227,621 Up ×1
MDLZ Mondelez International, Inc. - Class A Common Stock $15,457,209 0.54% 267,241 $55,322 Up ×1
SCHE SCHWAB STRATEGIC TRUST $14,946,880 0.52% 412,214 $830,078 Down ×6
SYK Stryker Corporation Common Stock $13,743,396 0.48% 43,652 $-10,309,392 Down ×6
XOM Exxon Mobil Corporation Common Stock $13,369,985 0.47% 97,791 $-3,202,404 Up ×1
PYPL PayPal Holdings, Inc. - Common Stock $13,295,683 0.47% 307,913 $-748,504 Down ×6
SO Southern Company (The) Common Stock $12,724,548 0.45% 132,949 $-68,985 Up ×1
NEE NextEra Energy, Inc. Common Stock $12,273,318 0.43% 139,835 $-830,935 Down ×5
NOW ServiceNow, Inc. Common Stock $12,247,677 0.43% 123,365 $-492,472 Up ×1
IJR iShares Trust $11,731,618 0.41% 79,102 $2,442,180 Up ×6
YUM Yum! Brands, Inc. $11,340,308 0.40% 70,939 $-1,433,463 Down ×6
VONG Vanguard Russell 1000 Growth ETF $10,943,476 0.38% 85,623 $1,163,187 Down ×1
CVX Chevron Corporation Common Stock $10,325,191 0.36% 62,290 $-2,438,677 Up ×1
DHR Danaher Corporation Common Stock $10,197,347 0.36% 53,535 $-321,851 Down ×2
AXP American Express Company Common Stock $9,889,088 0.35% 29,236 $-342,531 Down ×6
PLTR Palantir Technologies Inc. - Class A Common Stock $9,773,796 0.34% 83,773 $6,872,918 Up ×2
ABT Abbott Laboratories Common Stock $9,048,411 0.32% 99,718 $-2,276,296 Down ×5
SNPS Synopsys, Inc. - Common Stock $9,034,256 0.32% 20,253 $1,047,167 Up ×1
NSC Norfolk Southern Corporation Common Stock $8,603,407 0.30% 27,348 $196,316 Down ×3
TJX TJX Companies, Inc. (The) Common Stock $7,933,298 0.28% 52,365 $-371,581 Up ×4
EFA iShares Trust $7,815,413 0.27% 75,235 $475,298 Down ×1
BSX Boston Scientific Corporation Common Stock $7,511,937 0.26% 176,006 $-3,511,482 Up ×1
AMP Ameriprise Financial, Inc. Common Stock $7,469,989 0.26% 16,283 $-260,793 Down ×1
NKE Nike, Inc. Common Stock $7,454,156 0.26% 181,587 $-1,853,325 Up ×1
SCHX SCHWAB STRATEGIC TRUST $7,395,237 0.26% 251,282 $1,011,101 Up ×1
AMT American Tower Corporation (REIT) Common Stock $7,085,852 0.25% 43,320 $-564,620 Down ×5
VEA VANGUARD TAX-MANAGED FUNDS $6,433,212 0.23% 90,291 $647,385
IWV iShares Trust $6,365,284 0.22% 14,928 $831,786
ITW Illinois Tool Works Inc. Common Stock $6,353,070 0.22% 23,489 $-417,073 Down ×6
GL Globe Life Inc. Common Stock $5,821,037 0.20% 32,578 $1,287,157
ADBE Adobe Inc. - Common Stock $5,693,815 0.20% 27,772 $-792,775 Up ×4
EAGL 2023 ETF Series Trust $5,307,986 0.19% 164,998 $497,348 Up ×6
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $5,241,950 0.18% 7 $214,970
ABNB Airbnb, Inc. - Class A Common Stock $5,025,243 0.18% 35,117 $609,105 Up ×1
SCHB SCHWAB STRATEGIC TRUST $4,868,841 0.17% 168,123 $648,955
PG Procter & Gamble Company (The) Common Stock $4,699,372 0.16% 32,047 $74,259 Up ×1
SMH SMH $4,254,103 0.15% 6,486 $1,767,371
HEDG Series Portfolios Trust $3,878,970 0.14% 129,299 $79,518 Down ×1
IBM International Business Machines Corporation Common Stock $3,744,311 0.13% 13,315 $519,797 Up ×2
CMCSA Comcast Corporation - Class A Common Stock $3,440,879 0.12% 140,158 $-940,152 Down ×6
ALL Allstate Corporation (The) Common Stock $3,171,978 0.11% 13,331 $448,982 Up ×1
FNDX SCHWAB STRATEGIC TRUST $2,948,000 0.10% 94,791 Up ×1
FNDE SCHWAB STRATEGIC TRUST $2,861,206 0.10% 72,107 $485,949 Up ×1
CAT Caterpillar, Inc. Common Stock $2,844,348 0.10% 2,671 $982,515 Up ×2
KO Coca-Cola Company (The) Common Stock $2,551,472 0.09% 31,395 $167,000 Up ×1
BAC Bank of America Corporation Common Stock $2,538,687 0.09% 44,554 $2,565 Down ×1
UPS United Parcel Service, Inc. Common Stock $2,328,558 0.08% 21,661 $4,232 Down ×1
SOLV Solventum Corporation Common Stock $2,271,682 0.08% 29,445 $348,923
LMT Lockheed Martin Corporation Common Stock $2,157,295 0.08% 4,234 $-382,034 Up ×1
SMMD iShares Trust $2,080,001 0.07% 22,700 $346,856
EEM iShares, Inc. $1,908,913 0.07% 27,904 $308,344 Down ×1
IJS iShares Trust $1,880,443 0.07% 13,758 $250,808
EUSA iShares, Inc. $1,827,040 0.06% 16,000 $198,720
VOO VANGUARD INDEX FUNDS $1,806,500 0.06% 2,632 $233,748
CRCL Circle Internet Group, Inc. Class A Common Stock $1,729,590 0.06% 27,616 $-952,958 Down ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
HD $24,643,769 0.86% up ×3
IVV $23,682,276 0.83% up ×4
IJR $11,731,618 0.41% up ×6
TJX $7,933,298 0.28% up ×4
ADBE $5,693,815 0.20% up ×4
EAGL $5,307,986 0.19% up ×6
IBIT $242,717 0.01% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
SOXX $22,644,459 35,340 0.79%
Unknown issuer (CUSIP: 438516205) $18,321,737 81,831 0.64%
Unknown issuer (CUSIP: 43849R105) $18,031,064 81,559 0.63%
FNDX $2,948,000 94,791 0.10%
IEMG $958,873 11,575 0.03%
AMD $465,890 802 0.02%
INTC $283,309 2,029 0.01%
TT $264,735 539 0.01%
LRCX $257,398 594 0.01%
C $242,831 1,735 0.01%
IVW $242,740 1,765 0.01%
CWB $233,430 2,165 0.01%
RKLB $226,781 2,231 0.01%
TXN $209,245 702 0.01%
PSCH $208,681 3,985 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
PANW Trimmed -4K +$76.4M
STUB Bought more +60K +$41.7M
AVGO Trimmed -9K +$31.7M
GOOGL Trimmed -4K +$28.1M
XLK Bought more +107K +$23.5M
LLY Trimmed -11K +$15.0M
NVDA Bought more +18K +$14.1M
NXPI Trimmed -59 +$13.8M
AAPL Bought more +2K +$13.3M
GS Trimmed -941 +$11.9M

1 position 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 163,916 $37,049,934 -4.4%
BN Dec. 31, 2025 452,093 $31,004,538 -19.5%
DD Dec. 31, 2025 255,249 $19,883,897 223.3%
STZ Sept. 30, 2025 112,774 $18,346,074 -16.2%
ROP March 31, 2026 38,609 $17,186,025 0.1%
ACN March 31, 2026 60,984 $16,362,008 0.3%
FTV March 31, 2026 284,330 $15,697,859 4.0%
CP Dec. 31, 2025 12,891 $960,251 16.7%
GLW Sept. 30, 2025 16,006 $841,756 100.2%
TIP June 30, 2026 6,814 $751,993
DGX Sept. 30, 2025 4,000 $718,520 22.4%
BEPC Dec. 31, 2025 17,480 $601,662 -25.6%
CRC Sept. 30, 2025 11,737 $536,029 -1.4%
FXE Dec. 31, 2025 4,863 $527,003
SPXE Sept. 30, 2025 7,070 $472,895
BMY June 30, 2025 7,524 $458,889 32.1%
RKLB March 31, 2026 6,230 $434,605 15.1%
VXUS March 31, 2026 4,085 $308,172
CFLT March 31, 2026 9,938 $300,525 No longer tracked
RY Dec. 31, 2025 2,015 $296,850 14.8%
VTI March 31, 2026 863 $289,425
EG Sept. 30, 2025 850 $288,873 5.2%
DVY Sept. 30, 2025 2,087 $277,174
DINO March 31, 2026 6,000 $276,480 81.7%
PGR March 31, 2026 1,180 $268,710 6.1%
COIN Dec. 31, 2025 784 $264,592 -19.1%
FAST Dec. 31, 2025 5,234 $256,675 26.5%
ORLY March 31, 2026 2,775 $253,108 -8.0%
BABA Dec. 31, 2025 1,400 $250,222 -27.8%
AVAV March 31, 2026 1,000 $241,890 -23.1%
VRSK Sept. 30, 2025 772 $240,478 -34.8%
XLU March 31, 2026 5,502 $234,908 No longer tracked
PHO June 30, 2026 3,500 $234,010
ARKK March 31, 2026 2,976 $229,122
GBTC March 31, 2026 3,321 $227,024 23.4%
CRM June 30, 2026 1,202 $224,377 49.8%
UBER Dec. 31, 2025 2,288 $224,155 -16.6%
RKLB (filed as RKLBXXXX) Sept. 30, 2025 6,230 $222,847 54.3%
BAX June 30, 2025 6,460 $221,126 -22.4%
EPD June 30, 2025 6,468 $220,818 16.7%
IVW March 31, 2026 1,765 $217,554 26.7%
OXY June 30, 2026 3,312 $215,280 19.6%
VUSB Dec. 31, 2025 4,296 $214,779
T Dec. 31, 2025 7,439 $210,077 -2.2%
BA March 31, 2026 950 $206,264 -2.7%
GSK June 30, 2026 3,731 $205,914 -10.3%
KHC Dec. 31, 2025 7,878 $205,148 -8.5%
BMY June 30, 2026 3,366 $204,148 6.1%
UL (filed as ULXXXX) Sept. 30, 2025 3,325 $203,390 -10.6%
RWR Dec. 31, 2025 2,015 $202,084 8.2%
C March 31, 2026 1,727 $201,524 13.3%
CDW Sept. 30, 2025 1,126 $201,092 -16.3%
ED June 30, 2025 1,813 $200,500 3.0%
NOTE Sept. 30, 2025 119,931 $64,331 No longer tracked
NXDR June 30, 2026 10,209 $14,293 7.5%