Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +32.8%
S&P 500 total return (same window) +37.0%
Excess return -4.2%

Annualized: +25.5% · 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: 89.8% · Options excluded: 0.0%

Sector breakdown

04
Industrials 14.7%
Health Care 13.9%
Financials 12.3%
Communication Services 8.7%
Technology 8.7%
Energy 7.1%
Consumer Discretionary 5.8%
Materials 4.2%
Retail 0.1%
Utilities 0.1%
Other/Unmapped 24.4%

Full portfolio 237 positions

05
Type Streak 8Q trend
SPDN Direxion Shares ETF Trust $26,317,872 2.64% 3,035,510 $-4,269,642 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $22,833,441 2.29% 63,893 $3,741,470 Down ×3
FLEX Flex Ltd. - Ordinary Shares $19,949,358 2.00% 123,091 $6,829,734 Down ×2
MSFT Microsoft Corporation - Common Stock $17,397,653 1.75% 46,640 $-433,806 Down ×3
CSCO Cisco Systems, Inc. - Common Stock $16,900,732 1.70% 143,885 $4,675,341 Down ×1
JBL Jabil Inc. Common Stock $15,599,990 1.57% 40,469 $-57,836 Down ×2
CAH Cardinal Health, Inc. Common Stock $14,508,977 1.46% 61,075 $900,190 Down ×1
NVDA NVIDIA Corporation - Common Stock $13,719,771 1.38% 68,568 $5,812,301 Up ×1
DELL Dell Technologies Inc. Class C Common Stock $13,039,584 1.31% 30,222 $7,432,739 Down ×1
XLK SELECT SECTOR SPDR TRUST $12,689,775 1.28% 66,606 $3,350,493 Down ×2
SHY iShares 1-3 Year Treasury Bond ETF $12,307,222 1.24% 149,887 $-656,433 Down ×1
GTX Garrett Motion Inc. - Common Stock $11,684,827 1.17% 322,518 $5,484,151 Down ×1
MCK McKesson Corporation Common Stock $11,601,482 1.17% 15,354 $-2,379,274 Down ×1
FDX FedEx Corporation Common Stock $11,540,406 1.16% 36,855 $-2,158,277 Down ×1
BWX SPDR SERIES TRUST $11,518,476 1.16% 531,295 $-6,681,103 Down ×4
RWM ProShares Short Russell2000 $11,486,946 1.15% 864,330 $-2,602,963 Down ×1
SPIB SPDR SERIES TRUST $11,298,371 1.14% 337,668 $-2,795,976 Down ×1
C Citigroup, Inc. Common Stock $11,280,776 1.13% 80,600 $1,636,276 Down ×1
UPS United Parcel Service, Inc. Common Stock $11,162,155 1.12% 103,834 $483,498 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $10,772,976 1.08% 18,545 $9,178,899 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $10,759,402 1.08% 19,101 $-757,003 Down ×1
VTIP Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares $10,546,894 1.06% 209,972 $122,379 Up ×1
KGC Kinross Gold Corporation Common Stock $10,347,426 1.04% 438,079 $-3,627,011 Down ×3
JPM JP Morgan Chase & Co. Common Stock $10,179,636 1.02% 31,099 $553,250 Down ×1
IGOV iShares International Treasury Bond ETF $10,129,938 1.02% 246,891 $-52,614 Down ×4
IVV iShares Trust $9,762,530 0.98% 13,036 $1,245,978 Down ×4
CM Canadian Imperial Bank of Commerce Common Stock $9,584,330 0.96% 83,342 $1,276,934 Down ×1
MGA Magna International, Inc. Common Stock $9,322,144 0.94% 141,976 $991,776 Down ×1
SANM Sanmina Corporation - Common Stock $9,206,797 0.93% 36,379 $4,239,900 Down ×1
HCA HCA Healthcare, Inc. Common Stock $8,969,419 0.90% 23,005 $425,071 Up ×4
BAC Bank of America Corporation Common Stock $8,916,230 0.90% 156,480 $870,384 Down ×1
IAG Iamgold Corporation Ordinary Shares $8,847,384 0.89% 558,547 $-2,077,137 Down ×3
ERIC Ericsson - American Depositary Shares each representing 1 underlying Class B share $8,558,874 0.86% 767,612 $-586,032 Down ×1
LRCX Lam Research Corporation - Common Stock $8,537,468 0.86% 19,702 $4,102,527 Down ×1
BCS Barclays PLC Common Stock $8,513,277 0.86% 316,950 $1,465,304 Down ×1
DVN Devon Energy Corporation Common Stock $8,436,536 0.85% 204,176 $7,701,562 Up ×1
FFIV F5, Inc. - Common Stock $8,422,774 0.85% 20,249 $2,214,042 Down ×1
COR Cencora, Inc. Common Stock $8,389,508 0.84% 29,647 $-1,432,079 Down ×1
DY Dycom Industries, Inc. Common Stock $7,947,369 0.80% 15,719 $2,274,845 Down ×1
JNJ Johnson & Johnson Common Stock $7,894,657 0.79% 31,085 $-105,864 Down ×1
VRTX Vertex Pharmaceuticals Incorporated - Common Stock $7,768,857 0.78% 15,640 $421,041 Down ×1
MBB iShares MBS ETF $7,623,794 0.77% 80,658 $-109,599 Down ×3
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF $7,579,490 0.76% 142,552 $-282,541 Down ×3
NTCT NetScout Systems, Inc. - Common Stock $7,566,551 0.76% 173,744 $1,752,859 Down ×1
PLXS Plexus Corp. - Common Stock $7,532,986 0.76% 25,054 $2,181,474 Down ×1
AMGN Amgen Inc. - Common Stock $7,427,805 0.75% 20,512 $-171,451 Down ×1
TIP iShares Trust $7,239,123 0.73% 66,153 Up ×1
EME EMCOR Group, Inc. Common Stock $7,220,786 0.73% 8,701 $453,437 Down ×1
LAUR Laureate Education, Inc. - Common Stock $7,136,335 0.72% 196,485 $-86,624 Down ×1
IEF iShares 7-10 Year Treasury Bond ETF $7,065,136 0.71% 74,708 $-134,858 Down ×4
GVA Granite Construction Incorporated Common Stock $6,856,088 0.69% 43,371 $1,392,077 Down ×1
BIIB Biogen Inc. - Common Stock $6,803,513 0.68% 31,489 $727,407 Down ×1
GILD Gilead Sciences, Inc. - Common Stock $6,699,937 0.67% 53,031 $-1,117,466 Down ×1
ELV Elevance Health, Inc. Common Stock $6,691,976 0.67% 17,304
STIP iShares Trust $6,546,106 0.66% 64,077 Up ×1
VMI Valmont Industries, Inc. Common Stock $6,432,731 0.65% 11,137 $1,789,728 Down ×1
IEFA iShares Trust $6,420,445 0.65% 66,478 $401,648 Down ×4
MA Mastercard Incorporated Common Stock $6,318,821 0.63% 12,303 $158,013 Down ×3
LEA Lear Corporation Common Stock $6,148,528 0.62% 45,864 $309,808 Down ×1
MRK Merck & Company, Inc. Common Stock (new) $6,142,686 0.62% 47,803 $78,867 Down ×1
ALV Autoliv, Inc. Common Stock $6,120,881 0.62% 52,689 $293,755 Down ×1
TEL TE Connectivity plc Ordinary Shares $6,109,791 0.61% 30,305 $-2,457,312 Down ×1
SLB SLB Limited Common Shares $5,926,638 0.60% 127,482 $-986,550 Down ×1
THC Tenet Healthcare Corporation Common Stock $5,925,759 0.60% 31,675 $-344,508 Down ×1
UTI Universal Technical Institute Inc Common Stock $5,839,431 0.59% 136,531 $639,009 Down ×1
OII Oceaneering International, Inc. Common Stock $5,791,767 0.58% 142,936 $465,166 Down ×1
REGN Regeneron Pharmaceuticals, Inc. - Common Stock $5,777,098 0.58% 9,265 $-1,779,321 Down ×1
PNC PNC Financial Services Group, Inc. (The) Common Stock $5,758,101 0.58% 23,386 $624,105 Down ×1
V Visa Inc. $5,676,081 0.57% 16,544 $666,151 Down ×2
CHRW C.H. Robinson Worldwide, Inc. - Common Stock $5,641,536 0.57% 29,954 $446,036 Down ×1
BMY Bristol-Myers Squibb Company Common Stock $5,639,212 0.57% 97,869 $-621,869 Down ×1
BKR Baker Hughes Company - Common Stock $5,636,081 0.57% 101,551 $-866,843 Down ×1
CVSA Covista Inc. Common Shares $5,622,914 0.57% 45,106 $141,393 Down ×1
USB U.S. Bancorp Common Stock $5,566,162 0.56% 92,155 $503,093 Down ×1
UTHR United Therapeutics Corporation - Common Stock $5,517,997 0.55% 10,184 $-848,236 Down ×1
VMBS Vanguard Mortgage-Backed Securities ETF $5,517,401 0.55% 117,868 $-2,234,326 Down ×1
RNR RenaissanceRe Holdings Ltd. Common Stock $5,475,398 0.55% 17,278 Up ×1
TRV The Travelers Companies, Inc. Common Stock $5,284,561 0.53% 16,008 $374,712 Down ×1
EXPD Expeditors International of Washington, Inc. Common Stock $5,191,239 0.52% 31,852 $419,102 Down ×1
EGO Eldorado Gold Corporation Ordinary Shares $5,169,241 0.52% 166,267 $-811,869 Down ×2
GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares) $5,094,280 0.51% 97,182 $-562,971 Down ×1
DINO HF Sinclair Corporation Common Stock $5,055,197 0.51% 72,580 Up ×1
PFE Pfizer, Inc. Common Stock $4,887,445 0.49% 202,967 Up ×1
VONV Vanguard Russell 1000 Value ETF $4,808,827 0.48% 45,234 $568,592
PRIM Primoris Services Corporation Common Stock $4,761,725 0.48% 48,040 $-2,519,583 Down ×1
RIO Rio Tinto Plc Common Stock $4,740,994 0.48% 49,942 $-134,621 Down ×1
HIG The Hartford Insurance Group, Inc. Common Stock $4,647,079 0.47% 35,067 $-332,495 Down ×1
BHE Benchmark Electronics, Inc. Common Stock $4,618,841 0.46% 46,811 $1,812,197 Down ×1
NXPI NXP Semiconductors N.V. - Common Stock $4,600,461 0.46% 16,370 Up ×1
XLF SELECT SECTOR SPDR TRUST $4,568,805 0.46% 85,223 $-1,533,919 Down ×4
ALL Allstate Corporation (The) Common Stock $4,547,509 0.46% 19,112 $376,658 Down ×1
CRH CRH PLC Ordinary Shares $4,532,627 0.46% 42,361 $-164,765 Down ×1
AIZ Assurant, Inc. Common Stock $4,523,656 0.45% 16,846 $663,409 Down ×1
AEM Agnico Eagle Mines Limited Common Stock $4,507,612 0.45% 29,057 $-1,725,295 Down ×1
TS Tenaris S.A. American Depositary Shares $4,459,565 0.45% 80,367 $-427,206 Down ×1
WIP SPDR SERIES TRUST $4,338,533 0.44% 110,143 Up ×1
CVS CVS Health Corporation Common Stock $4,261,002 0.43% 41,189 $1,140,782 Down ×1
AGG iShares Trust $4,231,890 0.43% 42,755 $-12,399
LST Leuthold Select Industries ETF $4,171,634 0.42% 89,271 $1,963,226 Up ×3
DGII Digi International Inc. - Common Stock $4,090,022 0.41% 54,570 $1,330,235 Down ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
HCA $8,969,419 0.90% up ×4
LST $4,171,634 0.42% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TIP $7,239,123 66,153 0.73%
ELV $6,691,976 17,304 0.67%
STIP $6,546,106 64,077 0.66%
RNR $5,475,398 17,278 0.55%
DINO $5,055,197 72,580 0.51%
PFE $4,887,445 202,967 0.49%
NXPI $4,600,461 16,370 0.46%
WIP $4,338,533 110,143 0.44%
HQY $3,704,746 41,018 0.37%
PBF $3,695,678 81,188 0.37%
MCY $3,653,974 34,271 0.37%
EQT $3,628,640 68,246 0.36%
RGA $3,542,324 16,658 0.36%
OVV $3,357,333 63,767 0.34%
AR $3,289,877 93,622 0.33%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
DELL Trimmed -4K +$7.4M
FLEX Trimmed -77K +$6.8M
BWX Trimmed -298K -$6.7M
NVDA Bought more +23K +$5.8M
GTX Trimmed -19K +$5.5M
CSCO Trimmed -14K +$4.7M
SPDN Trimmed -39K -$4.3M
SANM Trimmed -2K +$4.2M
LRCX Trimmed -1K +$4.1M
GOOGL Trimmed -2K +$3.7M

7 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
ORCL Dec. 31, 2025 67,756 $19,055,697 -27.0%
NFLX Dec. 31, 2025 14,948 $17,921,456 -28.5%
URI Dec. 31, 2025 12,865 $12,281,701 33.6%
PHM Dec. 31, 2025 89,134 $11,777,275 -1.3%
DHI Dec. 31, 2025 58,848 $9,972,971 -6.3%
UNH March 31, 2026 28,134 $9,287,315 37.4%
ELV March 31, 2026 22,531 $7,898,242 32.0%
TOL Dec. 31, 2025 54,057 $7,467,434 1.0%
T Dec. 31, 2025 243,714 $6,882,483 -2.2%
CHKP Dec. 31, 2025 30,725 $6,357,310 -29.8%
DIS Dec. 31, 2025 53,754 $6,154,833 -10.2%
VRSN Dec. 31, 2025 20,427 $5,710,776 18.7%
LRN Dec. 31, 2025 38,293 $5,703,359 21.5%
NOK Sept. 30, 2025 1,048,613 $5,431,815 120.4%
FTNT Dec. 31, 2025 63,901 $5,372,796 127.9%
EMLC June 30, 2025 219,399 $5,234,860
UBER March 31, 2026 63,823 $5,214,977 -5.3%
MTBA Sept. 30, 2025 99,986 $5,008,299
GT March 31, 2026 560,093 $4,906,415 -27.0%
HUM March 31, 2026 18,186 $4,657,980 124.0%
SNY June 30, 2026 96,085 $4,629,375 -6.4%
TWLO Sept. 30, 2025 36,638 $4,556,302 194.3%
FTDR Dec. 31, 2025 61,594 $4,144,660 33.9%
GDDY Sept. 30, 2025 21,899 $3,943,134 -29.0%
HBAN June 30, 2025 261,215 $3,920,837 -8.5%
G June 30, 2025 77,271 $3,892,913 -24.4%
SNEX June 30, 2026 47,107 $3,799,180 -16.7%
CMCSA Sept. 30, 2025 106,225 $3,791,170 -31.3%
CFG June 30, 2025 92,120 $3,774,156 43.8%
VC June 30, 2026 40,842 $3,721,115 -10.5%
MTCH June 30, 2025 118,580 $3,699,696 30.5%
MRK June 30, 2025 40,970 $3,677,467 82.3%
BR June 30, 2026 22,615 $3,674,485 14.6%
SSNC June 30, 2026 53,973 $3,646,956 26.6%
RCL Dec. 31, 2025 11,149 $3,607,593 -0.4%
EXPE Dec. 31, 2025 16,800 $3,591,000 -6.5%
CSGS March 31, 2026 46,602 $3,573,907 No longer tracked
STRA Sept. 30, 2025 41,196 $3,507,015 -7.3%
AKAM Sept. 30, 2025 43,777 $3,491,654 43.8%
MOH March 31, 2026 20,027 $3,475,486 42.2%
PYPL Sept. 30, 2025 45,786 $3,402,816 -21.3%
VIRT Sept. 30, 2025 74,840 $3,352,084 65.6%
WNS Dec. 31, 2025 43,904 $3,348,558 No longer tracked
CCL Dec. 31, 2025 115,230 $3,331,299 -15.7%
TNL Dec. 31, 2025 54,772 $3,258,386 -10.8%
QLYS Dec. 31, 2025 24,234 $3,206,885 45.2%
ACGL Sept. 30, 2025 35,164 $3,201,682 3.2%
OKTA Sept. 30, 2025 31,697 $3,168,749 130.6%
OGS Sept. 30, 2025 42,499 $3,053,978 -10.3%
VOYA June 30, 2025 44,722 $3,030,363 36.1%
SR Sept. 30, 2025 41,490 $3,028,355 -4.9%
VZ Dec. 31, 2025 67,821 $2,980,733 12.7%
CHTR Sept. 30, 2025 7,162 $2,927,897 -60.3%
CI Sept. 30, 2025 8,843 $2,923,319 -6.1%
ADT Dec. 31, 2025 335,077 $2,918,521 -22.6%
PRKS Dec. 31, 2025 55,977 $2,894,011 -10.6%
ABG Dec. 31, 2025 11,800 $2,884,510 -24.4%
MMS June 30, 2026 44,280 $2,838,348 -2.1%
LTH Dec. 31, 2025 102,322 $2,824,087 54.2%
FITB June 30, 2025 71,861 $2,816,951 23.7%
SH March 31, 2026 77,821 $2,803,891 -15.3%
LAD Sept. 30, 2025 8,260 $2,790,393 -2.6%
COLB June 30, 2025 110,687 $2,760,534 23.7%
NCLH Dec. 31, 2025 110,778 $2,728,462 -32.2%
GPN June 30, 2025 27,642 $2,706,705 -2.1%
LAZ March 31, 2026 55,271 $2,683,960 -15.1%
FCNCA June 30, 2025 1,444 $2,677,349 6.0%
H Sept. 30, 2025 18,108 $2,528,782 12.0%
IAC June 30, 2025 54,596 $2,508,140 No longer tracked
ACM June 30, 2026 28,389 $2,407,955 -14.5%
CADE June 30, 2025 78,241 $2,375,397 No longer tracked
IGV Dec. 31, 2025 20,069 $2,308,136 0.3%
PINS June 30, 2025 74,310 $2,303,610 -46.3%
XLU Sept. 30, 2025 27,526 $2,247,773 No longer tracked
JAZZ June 30, 2025 17,467 $2,168,528 122.1%
KMPR Sept. 30, 2025 32,840 $2,119,494 -50.2%
DOCN Sept. 30, 2025 73,477 $2,098,503 310.0%
XYZ June 30, 2025 35,183 $1,911,492 9.4%
WIX Sept. 30, 2025 11,951 $1,893,755 -59.1%
CNXC June 30, 2026 66,034 $1,806,690 11.2%
CON June 30, 2025 70,634 $1,532,758 73.3%
SEM June 30, 2025 87,542 $1,461,951 No longer tracked
ITB June 30, 2025 13,797 $1,313,612
IYZ Dec. 31, 2025 40,487 $1,306,111
JETS Dec. 31, 2025 51,516 $1,269,869 0.2%
XOM June 30, 2026 6,577 $1,115,854 20.0%
KRE June 30, 2025 13,262 $753,945
IDCC Dec. 31, 2025 2,071 $714,971 5.3%
EBAY Dec. 31, 2025 7,371 $670,392 22.2%
EG Dec. 31, 2025 1,883 $659,483 8.5%
MRP Dec. 31, 2025 17,555 $590,024 -17.6%
FISV June 30, 2025 2,650 $585,200 -74.3%
JD June 30, 2025 14,123 $580,738 -21.0%
CRM Sept. 30, 2025 2,016 $549,743 -1.0%
YOU Dec. 31, 2025 14,703 $490,786 18.4%
KCE June 30, 2026 3,470 $477,472
AGGY Sept. 30, 2025 10,932 $476,963
PEJ Dec. 31, 2025 7,562 $458,106 1.9%
BFH March 31, 2026 6,020 $445,661 30.9%
LQD Sept. 30, 2025 4,063 $445,345
DBX Sept. 30, 2025 15,513 $443,672 12.2%
SNPS Dec. 31, 2025 880 $434,183 4.3%
DDS Dec. 31, 2025 679 $417,232 7.9%
ZM Sept. 30, 2025 5,328 $415,477 12.6%
SHOP June 30, 2025 4,267 $407,413 31.2%
PDD June 30, 2025 3,424 $405,230 -28.0%
DOCU Sept. 30, 2025 5,188 $404,093 -4.3%
PPH June 30, 2025 4,303 $392,132 26.6%
CMA March 31, 2026 4,392 $381,797 No longer tracked
SAP Sept. 30, 2025 1,248 $379,517 -21.9%
XLY Dec. 31, 2025 1,564 $374,797 No longer tracked
SKM Dec. 31, 2025 15,827 $341,863 79.2%
HRB Dec. 31, 2025 6,718 $339,729 -4.4%
ACWI March 31, 2026 2,388 $337,878
ACIW Sept. 30, 2025 7,124 $327,063 -5.0%
FIS June 30, 2025 4,335 $323,738 -60.2%
JWN June 30, 2025 13,231 $323,498 No longer tracked
XLY June 30, 2025 1,606 $317,121 No longer tracked
BIDU June 30, 2025 3,141 $289,066 -1.7%
ZIM March 31, 2026 12,777 $271,256 12.4%
GSL March 31, 2026 7,473 $261,854 23.0%
OPRA Sept. 30, 2025 13,815 $261,104 -14.2%
NHC June 30, 2025 2,740 $254,272 No longer tracked
SCHD Sept. 30, 2025 8,827 $233,916 21.6%
YPF Sept. 30, 2025 7,266 $228,516 104.5%
EEFT June 30, 2025 2,118 $226,308 -37.4%
MATX March 31, 2026 1,799 $222,266 41.0%
USMV March 31, 2026 2,338 $220,146
TLH June 30, 2025 2,064 $214,140
IJR March 31, 2026 1,754 $210,796 11.2%
TLH March 31, 2026 2,048 $208,220
JAAA Dec. 31, 2025 4,057 $206,014
MTCH Dec. 31, 2025 5,770 $203,796 24.9%
MATX Sept. 30, 2025 1,798 $200,207 134.4%
PAYO June 30, 2025 21,943 $160,403 4.4%