Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +73.7%
S&P 500 total return (same window) +37.0%
Excess return +36.7%

Annualized: +55.6% · 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: 99.3% · Options excluded: 51.1%

Sector breakdown

04
Technology 43.7%
Communication Services 12.6%
Industrials 11.2%
Retail 9.2%
Consumer Discretionary 6.3%
Financials 3.5%
Healthcare 2.7%
Consumer products 1.4%
Utilities 0.8%
Real Estate 0.4%
Other/Unmapped 8.3%

Full portfolio 86 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $432,194,400 7.84% 2,160,000 Call option $135,714,400 Up ×3
ASML ASML Holding N.V. - New York Registry Shares $303,389,600 5.50% 152,500 Call option Up ×1
SMH SMH $301,709,400 5.47% 460,000 Put option
AMZN Amazon.com, Inc. - Common Stock $250,257,000 4.54% 1,050,000 Call option
MSFT Microsoft Corporation - Common Stock $223,812,000 4.06% 600,000 Call option
Unknown issuer (CUSIP: 84615Q103) $184,323,768 3.34% 1,078,800 Up ×1
TXN Texas Instruments Incorporated - Common Stock $173,476,740 3.15% 582,000
QQQ Invesco QQQ Trust, Series 1 $162,008,000 2.94% 220,000 Put option Up ×1
AMZN Amazon.com, Inc. - Common Stock $156,112,700 2.83% 655,000
NVDA NVIDIA Corporation - Common Stock $155,469,930 2.82% 777,000 $-9,338,070 Down ×1
V Visa Inc. $137,236,000 2.49% 400,000 Call option $46,564,000 Up ×1
FOXA Fox Corporation - Class A Common Stock $119,602,880 2.17% 2,293,000 Up ×1
CLS Celestica, Inc. Common Stock $117,100,800 2.12% 321,000 $85,834,320 Up ×1
LSCC Lattice Semiconductor Corporation - Common Stock $112,884,480 2.05% 738,000 Up ×1
TTMI TTM Technologies, Inc. - Common Stock $105,853,320 1.92% 566,000 Up ×1
LYV Live Nation Entertainment, Inc. Common Stock $91,555,000 1.66% 500,000 Call option $61,053,000 Up ×1
SATS EchoStar Corporation - Common stock $89,320,000 1.62% 880,000
NTRA Natera, Inc. - Common Stock $88,221,250 1.60% 325,000 Call option $20,224,650 Up ×1
SNOW Snowflake Inc. Common Stock $88,057,000 1.60% 346,000
TXN Texas Instruments Incorporated - Common Stock $83,459,600 1.51% 280,000 Call option
CRDO Credo Technology Group Holding Ltd - Ordinary Shares $81,313,050 1.47% 299,000 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $69,709,200 1.26% 120,000 Call option $8,680,200 Up ×1
Unknown issuer (CUSIP: 84615Q103) $68,344,000 1.24% 400,000 Call option Up ×1
TTMI TTM Technologies, Inc. - Common Stock $61,716,600 1.12% 330,000 Call option Up ×1
SNOW Snowflake Inc. Common Stock $61,080,000 1.11% 240,000 Call option
NTRA Natera, Inc. - Common Stock $60,261,900 1.09% 222,000 $-7,534,711 Down ×1
MSFT Microsoft Corporation - Common Stock $58,899,858 1.07% 157,900
LYV Live Nation Entertainment, Inc. Common Stock $58,045,870 1.05% 317,000 $-24,040,655 Down ×1
MU Micron Technology, Inc. - Common Stock $57,714,500 1.05% 50,000 Call option $4,504,700 Down ×1
CLS Celestica, Inc. Common Stock $56,544,000 1.03% 155,000 Call option $29,784,400 Up ×1
SNPS Synopsys, Inc. - Common Stock $55,312,680 1.00% 124,000 $6,545,639 Up ×3
AMD Advanced Micro Devices, Inc. - Common Stock $54,605,540 0.99% 94,000 $17,581,280 Down ×1
ENTG Entegris, Inc. - Common Stock $53,958,000 0.98% 300,000 Call option
V Visa Inc. $53,865,130 0.98% 157,000 $41,775,529 Up ×1
VRT Vertiv Holdings, LLC Class A Common Stock $53,571,200 0.97% 160,000 Call option $48,559,600 Up ×1
SNDK Sandisk Corporation - Common Stock $52,295,790 0.95% 23,000 Call option Up ×1
TMUS T-Mobile US, Inc. - Common Stock $50,319,000 0.91% 300,000 Call option Up ×1
MSI Motorola Solutions, Inc. Common Stock $49,834,800 0.90% 120,000 Up ×1
LSCC Lattice Semiconductor Corporation - Common Stock $45,888,000 0.83% 300,000 Call option Up ×1
SGI Somnigroup International Inc. Common Stock $45,362,240 0.82% 578,600 Up ×1
FTAI FTAI Aviation Ltd. - Common Stock $43,284,800 0.78% 160,000 Call option Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $42,884,400 0.78% 120,000 $8,377,200
GOOG Alphabet Inc. - Class C Capital Stock $42,399,600 0.77% 120,000 Up ×1
WSM Williams-Sonoma, Inc. Common Stock (DE) $37,296,000 0.68% 160,000 Call option Up ×1
MTZ MasTec, Inc. Common Stock $36,946,128 0.67% 88,800
FOXA Fox Corporation - Class A Common Stock $36,512,000 0.66% 700,000 Call option Up ×1
MTZ MasTec, Inc. Common Stock $33,284,800 0.60% 80,000 Call option Up ×1
COHR Coherent Corp. Common Stock $32,741,010 0.59% 83,000 $-73,262,440 Down ×1
SGI Somnigroup International Inc. Common Stock $31,360,000 0.57% 400,000 Call option Up ×1
DDOG Datadog, Inc. - Class A Common Stock $31,243,200 0.57% 120,000 Call option
COHR Coherent Corp. Common Stock $30,374,190 0.55% 77,000 Call option $-5,357,310 Up ×1
ENTG Entegris, Inc. - Common Stock $29,676,900 0.54% 165,000 $11,504,700 Up ×1
LION Lionsgate Studios Corp Common Shares $29,177,798 0.53% 1,905,800 Up ×1
Unknown issuer (CUSIP: 15675D103) $29,172,000 0.53% 132,000 Up ×1
DDOG Datadog, Inc. - Class A Common Stock $27,858,780 0.51% 107,001
SNPS Synopsys, Inc. - Common Stock $26,764,200 0.49% 60,000 Call option
TSM Taiwan Semiconductor Manufacturing Company Ltd. $26,600,649 0.48% 55,700 $-15,988,486 Down ×2
SE Sea Limited American Depositary Shares, each representing one Class A Ordinary Share $26,247,837 0.48% 273,900 $-32,381,642 Down ×1
CVNA Carvana Co. Class A Common Stock $24,353,400 0.44% 370,000 Call option
STX Seagate Technology Holdings PLC - Ordinary Shares (Ireland) $24,125,965 0.44% 25,001 Up ×1
TLN Talen Energy Corporation - Common Stock $23,513,637 0.43% 61,192
ROKU Roku, Inc. - Class A Common Stock $22,102,400 0.40% 160,000 $15,384,380 Up ×1
STM STMicroelectronics N.V. Common Stock $21,905,325 0.40% 292,500 Call option Up ×1
CRDO Credo Technology Group Holding Ltd - Ordinary Shares $21,756,000 0.39% 80,000 Call option Up ×1
CHTR Charter Communications, Inc. - Class A Common Stock $21,331,500 0.39% 150,000 Call option
WULF TeraWulf Inc. - Common Stock $19,266,000 0.35% 780,000 Up ×1
TLN Talen Energy Corporation - Common Stock $19,213,000 0.35% 50,000 Call option
DASH DoorDash, Inc. - Common Stock $18,453,000 0.33% 100,000 Call option Up ×1
FPS Forgent Power Solutions, Inc. Class A Common Stock $17,875,200 0.32% 320,000 $-14,797,321 Down ×1
COMP Compass, Inc. Class A Common Stock $17,138,700 0.31% 1,390,000 Up ×1
FWONK Liberty Media Corporation - Series C Liberty Formula One Common Stock $16,211,856 0.29% 170,400 $1,630,926 Down ×1
DASH DoorDash, Inc. - Common Stock $15,869,580 0.29% 86,000 Up ×1
FTAI FTAI Aviation Ltd. - Common Stock $15,474,316 0.28% 57,200 Up ×1
JHX James Hardie Industries plc. Ordinary Shares $13,571,712 0.25% 518,400 Up ×1
HUT Hut 8 Corp. - Common Stock $13,137,641 0.24% 113,800 Up ×1
Unknown issuer (CUSIP: 74768A104) $12,261,000 0.22% 150,000 Up ×1
VZ Verizon Communications Inc. Common Stock $10,860,210 0.20% 256,500 Call option Up ×1
SG Sweetgreen, Inc. Class A Common Stock $9,252,262 0.17% 1,050,200 $1,660,329 Down ×1
T AT&T Inc. $8,476,650 0.15% 409,500 Call option Up ×1
DLR Digital Realty Trust, Inc. Common Stock $7,013,317 0.13% 39,054 Up ×1
LION Lionsgate Studios Corp Common Shares $6,124,000 0.11% 400,000 Call option Up ×1
STM STMicroelectronics N.V. Common Stock $5,991,200 0.11% 80,000 Up ×1
CPNG Coupang, Inc. Class A Common Stock $5,905,800 0.11% 340,000
CVNA Carvana Co. Class A Common Stock $4,607,400 0.08% 70,000
TMUS T-Mobile US, Inc. - Common Stock $168 0.00% 1 Up ×1
T AT&T Inc. $21 0.00% 1 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
NVDA $432,194,400 7.84% up ×3
SNPS $55,312,680 1.00% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ASML $303,389,600 152,500 5.50%
SMH $301,709,400 460,000 5.47%
AMZN $250,257,000 1,050,000 4.54%
MSFT $223,812,000 600,000 4.06%
Unknown issuer (CUSIP: 84615Q103) $184,323,768 1,078,800 3.34%
TXN $173,476,740 582,000 3.15%
QQQ $162,008,000 220,000 2.94%
AMZN $156,112,700 655,000 2.83%
FOXA $119,602,880 2,293,000 2.17%
LSCC $112,884,480 738,000 2.05%
TTMI $105,853,320 566,000 1.92%
SATS $89,320,000 880,000 1.62%
SNOW $88,057,000 346,000 1.60%
TXN $83,459,600 280,000 1.51%
CRDO $81,313,050 299,000 1.47%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
NVDA Bought more +1.5M +$135.7M
CLS Bought more +210K +$85.8M
COHR Trimmed -362K -$73.3M
LYV Bought more +420K +$61.1M
V Bought more +280K +$46.6M
V Bought more +117K +$41.8M
SE Trimmed -434K -$32.4M
CLS Bought more +117K +$29.8M
LYV Trimmed -221K -$24.0M
NTRA Bought more +189K +$20.2M

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
MSFT Dec. 31, 2025 910,000 $471,334,499 9.2%
AMZN March 31, 2026 1,973,500 $455,273,908 20.9%
TSM June 30, 2025 1,877,000 $311,582,000 111.1%
SPY Dec. 31, 2025 465,000 $309,773,700 No longer tracked
LRCX June 30, 2026 872,721 $267,288,660 -20.8%
META Dec. 31, 2025 304,000 $223,251,520 11.9%
CSCO March 31, 2026 2,281,000 $177,858,969 44.7%
TWLO Sept. 30, 2025 1,015,000 $126,225,401 192.4%
SMH Sept. 30, 2025 400,000 $111,552,000 93.4%
TXN March 31, 2026 613,000 $108,622,797 48.9%
ADI June 30, 2026 183,814 $96,714,561 3.7%
LRCX June 30, 2025 1,171,000 $85,131,700 252.6%
KVUE Dec. 31, 2025 5,115,000 $83,016,450 0.3%
QRVO Sept. 30, 2025 974,000 $82,702,340 25.4%
META June 30, 2026 102,425 $82,672,785 31.2%
CRS Dec. 31, 2025 304,000 $74,644,159 23.6%
SNOW March 31, 2026 326,000 $71,544,128 125.5%
SHW June 30, 2026 161,907 $71,162,099 -8.0%
TLN March 31, 2026 189,000 $70,375,816 3.1%
PRMB March 31, 2026 4,210,000 $69,557,770 4.4%
CNM Dec. 31, 2025 1,269,000 $68,310,270 -20.7%
AVGO March 31, 2026 189,000 $65,257,351 15.6%
CYBR Sept. 30, 2025 157,563 $64,109,234 No longer tracked
ON Sept. 30, 2025 1,151,000 $60,323,910 71.2%
SAP March 31, 2026 242,000 $59,398,923 22.2%
UAL June 30, 2026 380,847 $58,280,310 -17.6%
OKTA June 30, 2026 312,814 $57,458,299 58.5%
GEO Dec. 31, 2025 2,670,000 $54,708,300 105.0%
DUOL Dec. 31, 2025 167,500 $53,908,200 -17.5%
ADSK March 31, 2026 176,000 $52,097,760 -7.1%
VST June 30, 2026 159,919 $51,112,200 -9.0%
AMAT June 30, 2025 347,000 $50,356,640 192.4%
GLW June 30, 2025 1,095,001 $50,129,147 204.3%
NTRA Dec. 31, 2025 310,000 $49,900,701 82.9%
SATS March 31, 2026 462,000 $49,533,841 No longer tracked
ANSS June 30, 2025 150,000 $47,484,000 No longer tracked
CPNG Dec. 31, 2025 1,447,000 $46,593,399 -41.0%
BIDU Dec. 31, 2025 347,500 $45,790,075 -34.1%
NBIS Dec. 31, 2025 407,435 $45,742,728 183.3%
FFIV March 31, 2026 177,000 $45,386,736 57.9%
CVNA March 31, 2026 103,000 $44,075,226 -79.5%
BA June 30, 2026 159,907 $43,786,600 -11.1%
ARKK Dec. 31, 2025 500,000 $43,150,000
RBLX Sept. 30, 2025 410,000 $43,132,001 -68.8%
ZG June 30, 2026 482,378 $42,822,094 -9.1%
BABA Dec. 31, 2025 232,500 $41,554,725 -26.0%
ORLY Dec. 31, 2025 384,000 $41,399,040 -8.9%
CVNA June 30, 2025 193,000 $40,352,440 -80.9%
FLUT Sept. 30, 2025 139,000 $39,720,640 -70.0%
HOOD June 30, 2025 895,000 $37,249,900 22.2%
HPE Dec. 31, 2025 1,515,000 $37,208,401 182.5%
IBIT Sept. 30, 2025 606,000 $37,093,260 -24.8%
CHWY June 30, 2026 931,826 $36,990,000 -8.2%
SPOT March 31, 2026 63,500 $36,875,084 -2.3%
QXO Dec. 31, 2025 1,820,000 $34,689,200 -37.5%
CHTR June 30, 2025 94,000 $34,641,820 -74.1%
CHWY June 30, 2025 1,020,000 $33,160,201 -57.7%
INTC Sept. 30, 2025 1,472,000 $32,972,800 245.7%
ENTG Sept. 30, 2025 400,000 $32,259,999 79.1%
BABA June 30, 2026 104,910 $30,674,970 13.0%
DIS Dec. 31, 2025 259,000 $29,655,501 -10.1%
NU March 31, 2026 1,560,000 $26,114,400 6.5%
SCHW March 31, 2026 255,000 $25,477,050 2.9%
GDS Dec. 31, 2025 634,000 $24,535,800 -15.7%
FSLR Sept. 30, 2025 147,000 $24,334,380 -21.0%
FIGR Dec. 31, 2025 650,000 $23,640,501 -31.0%
TPR June 30, 2025 335,000 $23,587,349 32.8%
SN Sept. 30, 2025 237,000 $23,460,630 80.1%
AGX Dec. 31, 2025 86,000 $23,224,300 22.5%
FIGR June 30, 2026 681,000 $23,119,950 -8.2%
ASML Sept. 30, 2025 28,611 $22,928,570 90.9%
ALK June 30, 2025 465,500 $22,911,911 -19.5%
FDS June 30, 2026 39,907 $21,699,000 15.3%
PRIM Dec. 31, 2025 158,000 $21,698,140 -37.6%
PTON Dec. 31, 2025 2,389,000 $21,501,000 -18.4%
MTZ Dec. 31, 2025 101,000 $21,493,810 -0.7%
RKT Dec. 31, 2025 1,100,000 $21,318,000 -39.6%
PM March 31, 2026 127,001 $20,370,961 13.5%
RDDT March 31, 2026 85,001 $19,539,180 11.0%
TEVA March 31, 2026 604,981 $18,848,361 31.6%
VMC June 30, 2025 80,000 $18,664,000 -8.0%
DDOG Dec. 31, 2025 131,000 $18,654,400 105.3%
SHOP Dec. 31, 2025 115,000 $17,090,150 -1.8%
APP March 31, 2026 23,500 $15,834,771 -29.0%
MELI June 30, 2025 8,001 $15,608,911 -30.4%
TTD Sept. 30, 2025 212,000 $15,261,880 -75.6%
NOW Dec. 31, 2025 16,500 $15,184,620 -11.2%
FLR March 31, 2026 345,000 $13,672,350 8.5%
DG June 30, 2026 45,997 $13,653,950 3.1%
AS Dec. 31, 2025 367,000 $12,753,251 -27.0%
PLTR Sept. 30, 2025 91,000 $12,405,120 3.7%
UBER March 31, 2026 150,001 $12,256,582 -3.4%
ETHA Sept. 30, 2025 625,000 $11,918,751
CMG June 30, 2025 216,000 $10,845,360 -45.1%
INFY June 30, 2026 319,850 $10,808,000 2.3%
SNPS June 30, 2025 25,000 $10,721,250 -2.1%
COF June 30, 2025 57,001 $10,220,279 -8.6%
TTWO June 30, 2025 48,000 $9,948,000 -16.4%
SLV Sept. 30, 2025 290,000 $9,514,901 30.5%
CCL March 31, 2026 314,000 $9,255,030 -0.6%
NFLX June 30, 2025 9,500 $8,859,035 -95.0%
FDS Dec. 31, 2025 30,000 $8,594,700 -8.6%
SIRI March 31, 2026 400,000 $8,313,788 11.4%
TAC Dec. 31, 2025 608,500 $8,313,631 -2.2%
SPOT Sept. 30, 2025 9,501 $7,290,497 -32.2%
GRAB Dec. 31, 2025 1,080,000 $6,501,600 -37.0%
LLYVK (filed as LLYVKXXXX) Dec. 31, 2025 65,000 $6,303,050 18.8%
XPO Sept. 30, 2025 49,000 $6,188,210 40.6%
GLD Sept. 30, 2025 20,000 $6,096,600
SPHR June 30, 2025 185,000 $6,053,201 174.7%
BTDR June 30, 2026 259,842 $5,622,509 -31.7%
LLYVK March 31, 2026 67,000 $5,571,721 5.0%
AMAT March 31, 2026 21,000 $5,396,790 56.6%
TE March 31, 2026 780,000 $5,210,400 -15.5%
Z June 30, 2026 115,000 $4,758,700 -11.9%
RGTI Sept. 30, 2025 370,000 $4,388,200 -49.6%
IONQ Sept. 30, 2025 94,000 $4,039,180 -30.0%
TTD June 30, 2026 59,910 $3,403,500 -33.9%
PURR June 30, 2026 575,000 $2,926,750 63.9%
MTCH Sept. 30, 2025 90,000 $2,780,100 14.5%
WYNN June 30, 2025 30,000 $2,505,000 -18.0%
SMR March 31, 2026 151,000 $2,139,670 -28.2%
EQPT June 30, 2026 100,000 $2,036,999 -4.5%
STUB Dec. 31, 2025 100,000 $1,683,999 -58.7%
AS June 30, 2026 39,233 $1,291,551 -19.4%
MLCO June 30, 2025 225,000 $1,185,750 -41.3%
SMCI Sept. 30, 2025 22,500 $1,102,725 -9.8%
SLNO Dec. 31, 2025 13,001 $878,868 No longer tracked