Performance vs S&P 500

03
Tracked Q3 2025–Q2 2026 +10.6%
S&P 500 total return (same window) +13.0%
Excess return -2.4%

Annualized: +14.4% · S&P 500: +17.7%

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: 93.4% · Options excluded: 0.0%

Sector breakdown

04
Technology 22.3%
Financials 13.8%
Healthcare 12.6%
Industrials 10.5%
Communication Services 7.4%
Retail 6.6%
Materials 2.7%
Real Estate 2.5%
Energy 1.4%
Consumer Discretionary 1.1%
Consumer products 0.5%
Consumer Staples 0.5%
Utilities 0.1%
Other/Unmapped 18.1%

Full portfolio 864 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $368,094,828 4.72% 1,839,646 $-8,595,395 Down ×1
MSFT Microsoft Corporation - Common Stock $329,186,938 4.22% 882,491 $-20,955,345 Down ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $281,079,455 3.60% 588,562 $32,219,151 Down ×3
AMZN Amazon.com, Inc. - Common Stock $244,281,944 3.13% 1,017,248 $-20,119,745 Down ×2
MA Mastercard Incorporated Common Stock $227,584,465 2.92% 443,116 $-878,270 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $224,588,854 2.88% 628,449 $29,926,338 Down ×3
V Visa Inc. $211,259,753 2.71% 615,756 $18,014,222 Down ×1
VGIT Vanguard Intermediate-Term Treasury ETF $198,340,316 2.54% 3,352,042 $157,092,069 Up ×3
META Meta Platforms, Inc. - Class A Common Stock $196,484,882 2.52% 348,817 $-13,678,617 Down ×1
UPS United Parcel Service, Inc. Common Stock $192,304,220 2.47% 1,780,430 $10,014,025 Down ×1
AMAT Applied Materials, Inc. - Common Stock $185,684,897 2.38% 256,826 $69,600,264 Down ×2
KNX Knight-Swift Transportation Holdings Inc. $173,668,804 2.23% 2,221,397 Up ×1
VGLT Vanguard Long-Term Treasury ETF $171,796,453 2.20% 3,079,893 $135,772,965 Up ×3
THC Tenet Healthcare Corporation Common Stock $168,760,895 2.16% 901,645 Up ×1
NU Nu Holdings Ltd. Class A Ordinary Shares $168,748,383 2.16% 12,630,867 $15,460,202 Up ×1
ASML ASML Holding N.V. - New York Registry Shares $161,849,286 2.08% 81,354 $47,054,553 Down ×2
LRCX Lam Research Corporation - Common Stock $157,002,083 2.01% 362,315 $76,238,601 Down ×2
MOH Molina Healthcare Inc Common Stock $152,338,582 1.95% 663,669 $79,236,341 Up ×1
TJX TJX Companies, Inc. (The) Common Stock $149,817,480 1.92% 988,894 $35,615,019 Up ×1
ELV Elevance Health, Inc. Common Stock $142,522,435 1.83% 367,297 $3,407,292 Down ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $116,156,314 1.49% 276,681 $45,850,414 Up ×1
AME AMETEK, Inc. $115,388,202 1.48% 476,929 Up ×1
VOO Vanguard S&P 500 ETF $114,292,823 1.47% 166,411 $17,325,361 Up ×3
HEI-A (filed as HEIA) HEICO Corporation Class A $113,108,765 1.45% 438,559 $38,409,914 Up ×2
COO The Cooper Companies, Inc. - Common Stock $107,938,609 1.38% 1,505,210 $4,699,687 Up ×1
SPOT Spotify Technology S.A. Ordinary Shares $100,866,593 1.29% 218,189 $-1,888,745 Up ×1
NOW ServiceNow, Inc. Common Stock $99,660,893 1.28% 996,908 $6,737,145 Up ×3
BLK BlackRock, Inc. Common Stock $98,361,778 1.26% 102,294 $-4,918,223 Down ×2
CBRE CBRE Group Inc Common Stock Class A $98,121,026 1.26% 721,001 $-2,145,653 Down ×3
MELI MercadoLibre, Inc. - Common Stock $92,234,475 1.18% 54,339 $-12,561,427 Down ×1
GPK Graphic Packaging Holding Company $88,094,180 1.13% 8,271,754 $3,786,380 Down ×1
SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF $78,202,616 1.00% 2,746,843 $12,602,438 Up ×1
WFG West Fraser Timber Co. Ltd Common stock $73,909,743 0.95% 1,091,402 $-21,575,641 Down ×2
APH Amphenol Corporation Common Stock $73,804,816 0.95% 418,584 $13,828,744 Down ×3
ROL Rollins, Inc. Common Stock $63,125,657 0.81% 1,493,038 $-17,341,790 Down ×1
CDNS Cadence Design Systems, Inc. - Common Stock $62,612,384 0.80% 166,824 $-40,175,897 Down ×3
MUB iShares Trust $54,729,605 0.70% 508,120 $2,425,148 Up ×1
SNY Sanofi - American Depositary Shares $53,099,690 0.68% 1,222,650 $-4,441,925 Up ×2
WY Weyerhaeuser Company Common Stock $52,589,675 0.67% 2,136,055 $-49,379,562 Down ×1
MCO Moody's Corporation Common Stock $51,679,738 0.66% 114,103 $-1,399,320 Down ×3
BKNG Booking Holdings Inc. - Common Stock $51,580,623 0.66% 282,773 $-1,882,020 Up ×1
NDAQ Nasdaq, Inc. - Common Stock $50,679,053 0.65% 642,972 $-7,009,095 Down ×3
RSP Invesco Exchange-Traded Fund Trust $50,187,258 0.64% 235,566 $20,149,052 Up ×3
VEA Vanguard FTSE Developed Markets ETF $47,061,168 0.60% 660,508 $4,296,119 Down ×1
BND Vanguard Total Bond Market ETF $46,268,314 0.59% 627,707 $6,646,953 Up ×3
SPIB State Street SPDR Portfolio Intermediate Term Corporate Bond ETF $40,978,462 0.53% 1,224,700 $19,902,731 Up ×2
VMBS Vanguard Mortgage-Backed Securities ETF $39,344,892 0.50% 836,947 $6,068,825 Up ×1
VTI Vanguard Morningstar Total Stock Market ETF $37,665,107 0.48% 101,787 $9,373,821 Up ×3
VWO Vanguard FTSE Emerging Markets ETF $35,446,396 0.45% 593,841 $8,172,842 Up ×3
VTEB Vanguard Tax-Exempt Bond ETF $34,523,364 0.44% 681,741 $2,513,441 Up ×3
SPSB State Street SPDR Portfolio Short Term Corporate Bond ETF $31,973,824 0.41% 1,065,439 $13,470,310 Up ×2
JPM JP Morgan Chase & Co. Common Stock $31,280,641 0.40% 94,965 $1,473,288 Down ×3
VB Vanguard Morningstar Small-Cap ETF $31,183,804 0.40% 102,876 $6,054,139 Up ×3
CAH Cardinal Health, Inc. Common Stock $29,872,976 0.38% 125,749 $2,570,456 Down ×1
SCHD SCHWAB STRATEGIC TRUST $29,444,152 0.38% 922,147 $2,165,448 Up ×3
SPB Spectrum Brands Holdings, Inc. Common Stock $26,495,635 0.34% 308,987 $2,911,635 Down ×1
USHY iShares Broad USD High Yield Corporate Bond ETF $24,490,881 0.31% 661,379 $6,760,996 Up ×3
SCHH SCHWAB STRATEGIC TRUST $23,227,961 0.30% 963,416 $7,981,280 Up ×3
VTRS Viatris Inc. - Common Stock $23,136,612 0.30% 1,425,546 $5,833,058 Up ×1
COR Cencora, Inc. Common Stock $22,748,268 0.29% 80,388 $-2,746,101 Down ×1
SGOV iShares Trust $22,640,079 0.29% 224,894 $2,342,493 Up ×3
MCK McKesson Corporation Common Stock $22,548,616 0.29% 29,842 $-3,755,732 Down ×1
MRK Merck & Company, Inc. Common Stock (new) $22,483,730 0.29% 173,781 $1,278,889 Down ×1
ABBV AbbVie Inc. Common Stock $21,705,821 0.28% 85,352 $21,561,625 Up ×3
ET Energy Transfer LP Common Units $21,032,000 0.27% 1,100,000 $-198,000
AAPL Apple Inc. - Common Stock $20,179,208 0.26% 69,737 $9,286,002 Up ×3
SPTS State Street SPDR Portfolio Short Term Treasury ETF $19,481,203 0.25% 671,071 $3,001,871 Up ×1
BAC Bank of America Corporation Common Stock $19,472,733 0.25% 336,433 $1,145,512 Down ×3
RMOP Tidal Trust III $19,298,963 0.25% 755,341 $-425,081 Down ×3
C Citigroup, Inc. Common Stock $18,397,026 0.24% 129,111 $803,279 Down ×3
MBB iShares MBS ETF $17,734,788 0.23% 187,630 $-787,868 Down ×3
HD Home Depot, Inc. (The) Common Stock $17,494,887 0.22% 49,606 $17,168,116 Up ×3
DELL Dell Technologies Inc. Class C Common Stock $17,042,422 0.22% 39,499 Up ×1
WFC Wells Fargo & Company Common Stock $16,819,499 0.22% 201,407 $-148,815 Down ×3
QCOM QUALCOMM Incorporated - Common Stock $16,310,317 0.21% 86,426 $4,691,657 Down ×1
EMLC VanEck ETF Trust $16,175,135 0.21% 632,830 Up ×1
HYDB iShares High Yield Systematic Bond ETF $16,026,883 0.21% 342,455 $6,010,090 Up ×3
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF $15,808,954 0.20% 342,779 $2,203,084 Up ×3
GSIE Goldman Sachs ActiveBeta International Equity ETF $15,805,777 0.20% 345,859 $2,591,035 Up ×3
VO Vanguard Morningstar Mid-Cap ETF $15,610,145 0.20% 193,746 $3,330,889 Up ×3
SPY SPY $15,003,643 0.19% 20,091 $1,518,650 Down ×2
GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares) $14,644,688 0.19% 277,309 $1,648,712 Up ×1
GILD Gilead Sciences, Inc. - Common Stock $12,986,741 0.17% 102,792 $-1,377,428 Down ×3
Unknown issuer (CUSIP: 002951098) $12,506,026 0.16% 184,803 $-3,265,665 Down ×2
AVGO Broadcom Inc. - Common Stock $12,060,424 0.15% 31,927 $5,151,232 Up ×3
NVS Novartis AG Common Stock $11,657,405 0.15% 73,973 $-1,317,638 Down ×3
SCHP SCHWAB STRATEGIC TRUST $11,647,114 0.15% 437,861 $9,215,918 Up ×2
WWW Wolverine World Wide, Inc. Common Stock $11,571,000 0.15% 700,000 $1,785,903 Up ×3
PGR Progressive Corporation (The) Common Stock $11,468,337 0.15% 52,162 $1,754,492 Up ×1
HSBC HSBC Holdings, plc. Common Stock $11,444,842 0.15% 120,358 $11,426,195 Up ×1
VZ Verizon Communications Inc. Common Stock $11,325,377 0.15% 256,811 $11,241,778 Up ×2
BTI British American Tobacco Industries, p.l.c. Common Stock ADR $11,320,115 0.15% 180,429 $1,785,295 Up ×2
TMUS T-Mobile US, Inc. - Common Stock $11,229,937 0.14% 64,551
VCIT Vanguard Intermediate-Term Corporate Bond ETF $11,041,389 0.14% 133,093 $523,408 Up ×3
BMY Bristol-Myers Squibb Company Common Stock $10,818,492 0.14% 184,742 $-289,859 Up ×1
O Realty Income Corporation Common Stock $10,813,882 0.14% 171,540 $319,065
COP ConocoPhillips Common Stock $10,776,468 0.14% 103,421 $-3,857,113 Down ×3
FCPT Four Corners Property Trust, Inc. Common Stock $9,807,381 0.13% 399,486 $359,537
CVS CVS Health Corporation Common Stock $9,760,861 0.13% 94,235 $9,760,160 Up ×1
PNC PNC Financial Services Group, Inc. (The) Common Stock $9,608,653 0.12% 38,944 $1,008,709 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
VGIT $198,340,316 2.54% up ×3
VGLT $171,796,453 2.20% up ×3
VOO $114,292,823 1.47% up ×3
NOW $99,660,893 1.28% up ×3
RSP $50,187,258 0.64% up ×3
BND $46,268,314 0.59% up ×3
VTI $37,665,107 0.48% up ×3
VWO $35,446,396 0.45% up ×3
VTEB $34,523,364 0.44% up ×3
VB $31,183,804 0.40% up ×3
SCHD $29,444,152 0.38% up ×3
USHY $24,490,881 0.31% up ×3
SCHH $23,227,961 0.30% up ×3
SGOV $22,640,079 0.29% up ×3
ABBV $21,705,821 0.28% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
KNX $173,668,804 2,221,397 2.23%
THC $168,760,895 901,645 2.16%
AME $115,388,202 476,929 1.48%
DELL $17,042,422 39,499 0.22%
EMLC $16,175,135 632,830 0.21%
TMUS $11,229,937 64,551 0.14%
TD $8,535,558 70,292 0.11%
BMO $6,173,545 34,938 0.08%
KDP $4,281,501 127,806 0.05%
XYL $3,122,635 26,416 0.04%
INVH $3,021,000 100,000 0.04%
INFY $2,900,139 271,041 0.04%
AU $2,722,053 33,281 0.03%
PR $1,992,248 107,864 0.03%
MTH $1,689,572 20,040 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
VGIT Bought more +2.7M +$157.1M
VGLT Bought more +2.4M +$135.8M
MOH Bought more +118K +$79.2M
LRCX Trimmed -16K +$76.2M
AMAT Trimmed -83K +$69.6M
WY Trimmed -2.0M -$49.4M
ASML Trimmed -6K +$47.1M
UNH Bought more +17K +$45.9M
CDNS Trimmed -203K -$40.2M
HEI-A (filed as HEIA) Bought more +85K +$38.4M

8 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
AZN March 31, 2026 1,541,423 $142,597,008 -20.6%
EQH Dec. 31, 2025 170,000 $8,632,600 13.3%
AQN March 31, 2026 1,375,000 $8,456,250 -17.4%
LBRT March 31, 2026 435,456 $8,038,518 -32.0%
TTE Dec. 31, 2025 116,091 $7,165,137 29.0%
UL (filed as ULXXXX) Dec. 31, 2025 118,610 $7,031,201 -8.3%
CLS (filed as CLSXXXX) Dec. 31, 2025 20,263 $4,987,401 29.5%
SEE Dec. 31, 2025 138,161 $4,883,991 No longer tracked
PAA June 30, 2026 200,000 $4,466,000 7.4%
CTRA June 30, 2026 119,716 $4,299,002 No longer tracked
TFII Dec. 31, 2025 38,452 $3,384,791 11.1%
CLBT March 31, 2026 145,541 $2,624,104 -18.7%
SPYV Dec. 31, 2025 39,406 $2,180,334 8.7%
UGI June 30, 2026 55,348 $2,015,774 6.5%
YUMC June 30, 2026 36,186 $1,765,153 -1.5%
HON June 30, 2026 4,882 $1,103,478 -4.4%
DE March 31, 2026 1,833 $861,400 21.1%
PSX March 31, 2026 4,079 $528,475 48.1%
BR Dec. 31, 2025 1,727 $411,320 -28.7%
LH Dec. 31, 2025 1,429 $410,209 23.0%
ADM Dec. 31, 2025 6,841 $408,681 43.5%
CWAN June 30, 2026 15,622 $369,460 No longer tracked
STLD March 31, 2026 1,837 $314,182 33.6%
RBA March 31, 2026 2,439 $255,436 -14.1%
RL June 30, 2026 739 $254,209 -8.9%
IWD March 31, 2026 1,117 $236,737
SWKS March 31, 2026 2,291 $147,678 56.7%
WLK March 31, 2026 1,745 $130,666 -44.7%
VIS Dec. 31, 2025 420 $124,442
VGSH March 31, 2026 2,047 $120,282
PANW Dec. 31, 2025 518 $105,475 120.8%
TAP June 30, 2026 2,347 $101,062 -6.3%
BW Dec. 31, 2025 30,291 $96,325 -11.0%
CAG June 30, 2026 5,880 $92,492 -2.0%
DHI Dec. 31, 2025 527 $89,311 -7.5%
CWST Dec. 31, 2025 800 $75,904 -14.8%
MCFT Dec. 31, 2025 3,471 $74,488 4.2%
NULV Dec. 31, 2025 1,493 $65,434
FNDX Dec. 31, 2025 1,915 $50,365 17.6%
HEI Dec. 31, 2025 146 $47,132 -6.8%
IXN Dec. 31, 2025 381 $39,323 45.6%
MCK Dec. 31, 2025 50 $38,627 11.6%
PAR Dec. 31, 2025 921 $36,453 -59.7%
FAST Dec. 31, 2025 708 $34,720 26.3%
INSP Dec. 31, 2025 437 $32,425 -23.3%
HWM Dec. 31, 2025 164 $32,182 12.0%
LOPE Dec. 31, 2025 144 $31,611 -7.2%
CSGP Dec. 31, 2025 330 $27,842 -58.9%
EPAM Dec. 31, 2025 169 $25,484 -46.3%
VEEV Dec. 31, 2025 80 $23,833 27.0%
ECL Dec. 31, 2025 77 $21,087 5.5%
IYG Dec. 31, 2025 213 $19,093 -1.6%
BX Dec. 31, 2025 108 $18,452 -27.6%
URI Dec. 31, 2025 19 $18,139 32.7%
VG June 30, 2026 988 $15,571 20.8%
EQIX Dec. 31, 2025 19 $14,882 33.6%
AZO Dec. 31, 2025 3 $12,871 -17.2%
SBUX Dec. 31, 2025 145 $12,267 12.1%
FIVE Dec. 31, 2025 79 $12,221 14.6%
TYL Dec. 31, 2025 23 $12,033 -27.7%
WAT June 30, 2026 38 $11,316 17.4%
PKST June 30, 2026 533 $11,134 No longer tracked
SPG June 30, 2026 50 $9,118 -9.9%
COR Dec. 31, 2025 29 $9,063 -6.8%
VRSK Dec. 31, 2025 36 $9,054 -27.0%
IQV Dec. 31, 2025 47 $8,927 18.0%
TMUS Dec. 31, 2025 33 $7,900 -18.9%
WST Dec. 31, 2025 30 $7,870 36.9%
CCL June 30, 2026 324 $7,763 -10.5%
SYK June 30, 2026 22 $7,174 -9.4%
GDS Dec. 31, 2025 168 $6,502 -16.1%
IBN Dec. 31, 2025 208 $6,288 -6.9%
CP Dec. 31, 2025 84 $6,257 16.5%
LYB June 30, 2026 75 $6,179 12.5%
DT March 31, 2026 129 $5,689 62.8%
USFD Dec. 31, 2025 71 $5,440 25.6%
BKNG Dec. 31, 2025 1 $5,399 -97.0%
Z March 31, 2026 76 $5,271 -33.8%
WELL Dec. 31, 2025 29 $5,166 20.8%
RSG June 30, 2026 23 $5,099 -0.1%
DD Dec. 31, 2025 60 $4,674 225.1%
TCOM Dec. 31, 2025 60 $4,512 -46.1%
REVG March 31, 2026 73 $4,463 No longer tracked
RYN June 30, 2026 175 $3,605 -15.4%
LPX March 31, 2026 43 $3,540 -10.3%
CPAY Dec. 31, 2025 12 $3,457 33.5%
GWRE Dec. 31, 2025 15 $3,448 -18.8%
SPG Dec. 31, 2025 18 $3,378 8.8%
VCR June 30, 2026 9 $3,231
PRIM June 30, 2026 17 $2,285 -18.7%
XPEV Dec. 31, 2025 89 $2,084 -53.6%
FISV March 31, 2026 27 $1,824 -17.3%
CSGS June 30, 2026 22 $1,757 No longer tracked
CUK June 30, 2026 71 $1,695 No longer tracked
VST Dec. 31, 2025 8 $1,567 -10.2%
TKC Dec. 31, 2025 250 $1,505 -5.3%
DLR Dec. 31, 2025 8 $1,383 16.3%
VLTO Dec. 31, 2025 10 $1,066 -3.2%
HOLX March 31, 2026 10 $745 No longer tracked
NLOP March 31, 2026 26 $671 -16.9%
ACHR March 31, 2026 80 $604 -8.7%
RAL Dec. 31, 2025 8 $350 45.3%
CNK Dec. 31, 2025 0 $2 54.8%