Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +37.1%
S&P 500 total return (same window) +37.0%
Excess return +0.1%

Annualized: +28.7% · 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: 94.4% · Options excluded: 0.0%

Sector breakdown

04
Financials 21.8%
Industrials 15.5%
Technology 14.1%
Healthcare 13.8%
Energy 7.6%
Communication Services 4.9%
Real Estate 3.3%
Retail 3.1%
Materials 2.9%
Consumer Staples 0.9%
Consumer products 0.7%
Utilities 0.3%
Consumer Discretionary 0.3%
Other/Unmapped 11.0%

Full portfolio 187 positions

05
Type Streak 8Q trend
TROW T. Rowe Price Group, Inc. - Common Stock $65,977,149 13.36% 580,325 $8,420,505 Down ×6
GLW Corning Incorporated Common Stock $23,745,054 4.81% 92,961 $9,442,801 Down ×6
BIL SPDR SERIES TRUST $19,314,856 3.91% 210,769 $1,404,144 Up ×6
GOOG Alphabet Inc. - Class C Capital Stock $14,612,738 2.96% 41,357 $2,505,932 Down ×4
AMZN Amazon.com, Inc. - Common Stock $13,502,676 2.73% 56,653 $1,897,039 Up ×2
AAPL Apple Inc. - Common Stock $12,342,733 2.50% 42,655 $-90,950 Down ×1
AZN AstraZeneca PLC - American Depositary Shares $12,282,926 2.49% 64,777 $-570,907 Down ×1
TTI Tetra Technologies, Inc. Common Stock $10,901,397 2.21% 962,171 $2,560,223 Down ×6
VYMI Vanguard International High Dividend Yield ETF $10,286,646 2.08% 104,752 $457,888 Up ×3
ZS Zscaler, Inc. - Common Stock $9,340,178 1.89% 66,172 $32,638 Down ×1
MSFT Microsoft Corporation - Common Stock $8,906,588 1.80% 23,877 $499,989 Up ×1
IBM International Business Machines Corporation Common Stock $8,759,223 1.77% 31,148 $1,257,763 Up ×1
MET MetLife, Inc. Common Stock $8,663,848 1.75% 102,398 $1,385,968 Down ×6
CECO CECO Environmental Corp. - Common Stock $8,659,318 1.75% 95,430 $2,800,817 Down ×4
ALM Almonty Industries Inc. - Common Shares $8,646,887 1.75% 522,155 $984,723 Down ×2
ALSN Allison Transmission Holdings, Inc. Common Stock $8,149,640 1.65% 72,287 $-306,201 Up ×1
FANG Diamondback Energy, Inc. - Common Stock $7,764,575 1.57% 44,172 $-1,719,648 Down ×2
JPM JP Morgan Chase & Co. Common Stock $6,928,275 1.40% 21,166 $717,874 Up ×1
CVX Chevron Corporation Common Stock $6,921,924 1.40% 41,759 $-3,279,109 Down ×6
O Realty Income Corporation Common Stock $6,910,449 1.40% 111,531 $36,920 Down ×3
BLDR Builders FirstSource, Inc. Common Stock $6,646,395 1.35% 74,278 $1,789,254 Up ×1
ACA Arcosa, Inc. Common Stock $6,562,114 1.33% 45,166 $1,755,033 Down ×2
FIS Fidelity National Information Services, Inc. Common Stock $6,478,273 1.31% 166,622 $-834,152 Up ×2
WAY Waystar Holding Corp. - Common Stock $6,472,390 1.31% 315,265 Up ×1
JNJ Johnson & Johnson Common Stock $6,380,145 1.29% 25,121 $198,823 Down ×6
ZTS Zoetis Inc. Class A Common Stock $6,005,382 1.22% 83,571 $1,769,210 Up ×2
ANIP ANI Pharmaceuticals, Inc. - Common Stock $5,959,332 1.21% 71,990 $377,161 Down ×1
NPKI NPK International Inc. Common Stock $5,471,926 1.11% 343,930 $456,792 Down ×5
QCOM QUALCOMM Incorporated - Common Stock $5,187,939 1.05% 28,075 $-2,562,106 Down ×1
DHR Danaher Corporation Common Stock $5,049,547 1.02% 26,510 $631,987 Up ×2
CEF Sprott Physical Gold and Silver Trust Units $4,830,617 0.98% 120,075 $-913,678 Down ×6
B Barrick Mining Corporation Common Shares $4,790,822 0.97% 130,434 $-351,716 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $4,740,194 0.96% 9,473 $-665,661 Down ×2
ZETA Zeta Global Holdings Corp. Class A Common Stock $4,718,575 0.96% 239,765 $1,027,921 Up ×3
SGOV iShares Trust $4,592,062 0.93% 45,615 Up ×1
DOC Healthpeak Properties, Inc. Common Stock $4,465,928 0.90% 208,688 $429,811 Down ×4
ADMA ADMA Biologics Inc - Common Stock $4,455,795 0.90% 532,353 $-1,196,971 Down ×1
WTW Willis Towers Watson Public Limited Company - Ordinary Shares $4,290,389 0.87% 16,415 $-518,370 Down ×6
CB Chubb Limited Common Stock $4,100,902 0.83% 12,035 $64,259 Down ×2
GLD SPDR Gold Shares $4,035,235 0.82% 10,954 $-552,947 Up ×1
NVO Novo Nordisk A/S Common Stock $3,745,744 0.76% 78,134 $748,267 Down ×2
CPA Copa Holdings, S.A. Class A Common Stock $3,653,250 0.74% 23,483 $496,255 Down ×6
SYM Symbotic Inc. - Class A Common Stock $3,136,611 0.64% 69,780 $1,068,727 Up ×1
CALX Calix, Inc Common Stock $3,118,273 0.63% 83,555 $-886,904 Up ×3
MU Micron Technology, Inc. - Common Stock $3,110,879 0.63% 2,695 $1,447,017 Down ×3
MRK Merck & Company, Inc. Common Stock (new) $3,000,549 0.61% 23,351 $151,480 Down ×5
LLY Eli Lilly and Company Common Stock $2,989,007 0.61% 2,492 $648,172 Down ×3
GOOGL Alphabet Inc. - Class A Common Stock $2,979,394 0.60% 8,337 $900,335 Up ×1
ENPH Enphase Energy, Inc. - Common Stock $2,812,983 0.57% 57,128 $643,899 Down ×1
MXL MaxLinear, Inc - Common Stock $2,560,600 0.52% 20,000 $2,169,325 Down ×1
ATEC Alphatec Holdings, Inc. - Common Stock $2,415,686 0.49% 279,270 $-430,468 Up ×2
AMD Advanced Micro Devices, Inc. - Common Stock $2,395,673 0.49% 4,124 $1,348,212 Down ×1
TRGP Targa Resources, Inc. Common Stock $2,393,150 0.48% 8,925 $-95,345 Down ×2
PG Procter & Gamble Company (The) Common Stock $2,382,324 0.48% 16,246 $38,560 Up ×1
NVDA NVIDIA Corporation - Common Stock $2,284,028 0.46% 11,415 $1,244,604 Up ×1
SLB SLB Limited Common Shares $1,990,007 0.40% 42,805 $-1,100,065 Down ×1
SPY SPY $1,800,867 0.36% 2,412 $47,550 Down ×2
ABBV AbbVie Inc. Common Stock $1,712,913 0.35% 6,807 $227,021 Down ×2
WY Weyerhaeuser Company Common Stock $1,617,670 0.33% 67,572 $273,165 Up ×2
LSCC Lattice Semiconductor Corporation - Common Stock $1,544,896 0.31% 10,100 $608,020
DAR Darling Ingredients Inc. Common Stock $1,541,650 0.31% 28,225 $-205,613 Down ×2
PAR PAR Technology Corporation Common Stock $1,394,036 0.28% 80,025 $48,772 Down ×1
CINF Cincinnati Financial Corporation - Common Stock $1,385,773 0.28% 7,485 $208,008
KO Coca-Cola Company (The) Common Stock $1,377,176 0.28% 16,946 $70,889 Down ×3
GDX VanEck Gold Miners ETF $1,371,756 0.28% 18,181 $-296,714
SELF Global Self Storage, Inc. - Common Stock $1,366,506 0.28% 260,784 $39,810 Up ×1
XOM Exxon Mobil Corporation Common Stock $1,286,828 0.26% 9,412 $-368,714 Down ×3
VZ Verizon Communications Inc. Common Stock $1,256,210 0.25% 29,670 $-226,245 Up ×1
LMT Lockheed Martin Corporation Common Stock $1,191,627 0.24% 2,339 $-222,041
WFCPRL CUSIP: 949746804 $1,173,198 0.24% 1,014 $2,028
KRNT Kornit Digital Ltd. - Ordinary Shares $1,153,344 0.23% 70,975 $113,144 Up ×1
CYRX CryoPort, Inc. - Common Stock $1,055,433 0.21% 67,225 $581,610 Up ×1
AR Antero Resources Corporation Common Stock $1,054,200 0.21% 30,000 $-219,000
RTX RTX Corporation Common Stock $1,039,334 0.21% 5,478 $91,923 Up ×1
HDSN Hudson Technologies, Inc. - Common Stock $994,886 0.20% 173,325 $-30,145 Down ×6
EOG EOG Resources, Inc. Common Stock $959,724 0.19% 7,398 $4,839 Up ×3
GEHC GE HealthCare Technologies Inc. - Common Stock $934,802 0.19% 14,604 $75,019 Up ×2
AMGN Amgen Inc. - Common Stock $917,379 0.19% 2,533 $26,017
ENB Enbridge Inc Common Stock $916,691 0.19% 16,910 $-86,253 Down ×2
BF-B (filed as BFB) Brown-Forman Corporation Class B $914,868 0.19% 34,329 $58,000 Up ×3
ETN Eaton Corporation, PLC Ordinary Shares $910,192 0.18% 2,136 $306,445 Up ×1
ALL Allstate Corporation (The) Common Stock $898,252 0.18% 3,775 $105,591 Down ×3
MDT Medtronic plc. Ordinary Shares $888,447 0.18% 11,357 $644,614 Up ×2
RGLD Royal Gold, Inc. - Common Stock $814,409 0.16% 4,080 $-223,910
MYCG State Street My2027 Corporate Bond ETF $804,101 0.16% 32,177 $28,180 Up ×2
PEP PepsiCo, Inc. - Common Stock $778,279 0.16% 5,748 $-211,074 Down ×1
GE GE Aerospace Common Stock $730,642 0.15% 1,955 $150,332 Down ×2
AVGO Broadcom Inc. - Common Stock $713,570 0.14% 1,889 $286,446 Up ×1
LOW Lowe's Companies, Inc. Common Stock $702,249 0.14% 3,185 $-52,429 Down ×3
PLD Prologis, Inc. Common Stock $690,897 0.14% 5,100 $16,779
HD Home Depot, Inc. (The) Common Stock $662,686 0.13% 1,879 $-21,076 Down ×1
CSX CSX Corporation - Common Stock $641,227 0.13% 13,491 $87,421
PNC PNC Financial Services Group, Inc. (The) Common Stock $635,609 0.13% 2,581 $5,721 Down ×2
NBR Nabors Industries Ltd. $630,075 0.13% 7,500 $-15,375
TXO TXO Partners, L.P. Common Units Representing Limited Partner Interests $625,000 0.13% 50,000 $-4,000
CSCO Cisco Systems, Inc. - Common Stock $607,652 0.12% 5,173 $127,601 Down ×1
TOL Toll Brothers, Inc. Common Stock $607,277 0.12% 3,686 $261,326 Up ×3
SO Southern Company (The) Common Stock $599,623 0.12% 6,265 $15,677 Up ×1
Unknown issuer (CUSIP: 438516205) $592,696 0.12% 2,647 Up ×1
Unknown issuer (CUSIP: 43849R105) $584,536 0.12% 2,644 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
BIL $19,314,856 3.91% up ×6
VYMI $10,286,646 2.08% up ×3
ZETA $4,718,575 0.96% up ×3
CALX $3,118,273 0.63% up ×3
EOG $959,724 0.19% up ×3
BF-B (filed as BFB) $914,868 0.19% up ×3
TOL $607,277 0.12% up ×3
ELV $540,330 0.11% up ×3
RPRX $525,016 0.11% up ×3
CPAY $518,901 0.11% up ×3
SYK $400,794 0.08% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
WAY $6,472,390 315,265 1.31%
SGOV $4,592,062 45,615 0.93%
Unknown issuer (CUSIP: 438516205) $592,696 2,647 0.12%
Unknown issuer (CUSIP: 43849R105) $584,536 2,644 0.12%
ACN $523,892 4,210 0.11%
V $518,769 1,512 0.11%
META $457,396 812 0.09%
AMAT $378,129 523 0.08%
ULTA $359,882 798 0.07%
TXN $353,213 1,185 0.07%
PANW $332,836 976 0.07%
DUSA $331,237 5,896 0.07%
TSLA $322,600 767 0.07%
DVN $303,289 7,340 0.06%
NFLX $292,811 4,101 0.06%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
GLW Trimmed -12K +$9.4M
TROW Trimmed -58K +$8.4M
CVX Trimmed -8K -$3.3M
CECO Trimmed -3K +$2.8M
QCOM Trimmed -32K -$2.6M
TTI Trimmed -17K +$2.6M
GOOG Trimmed -848 +$2.5M
AMZN Bought more +929 +$1.9M
BLDR Bought more +15K +$1.8M
ZTS Bought more +48K +$1.8M

2 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
DOW June 30, 2025 149,028 $5,204,047 6.3%
LULU June 30, 2025 17,200 $4,868,632 -60.6%
ADBE June 30, 2026 13,090 $3,181,917 16.1%
GOLD June 30, 2025 138,896 $2,700,129 87.8%
HON June 30, 2026 5,511 $1,245,677 -5.2%
AMPL June 30, 2026 171,560 $1,170,039 93.3%
LAND March 31, 2026 95,628 $875,000 -5.3%
DCGO June 30, 2025 296,025 $781,506 -76.6%
SANM March 31, 2026 5,000 $750,350 74.6%
RIG June 30, 2025 229,225 $726,643 108.5%
SRPT Sept. 30, 2025 41,575 $710,933 -10.2%
SHYF June 30, 2025 74,021 $598,830 No longer tracked
XRAY March 31, 2026 46,040 $526,237 -26.6%
QTRX June 30, 2025 74,300 $483,693 -48.3%
PCH March 31, 2026 12,010 $477,758 No longer tracked
BXP Sept. 30, 2025 6,999 $472,206 -19.6%
RIO June 30, 2026 4,657 $434,452 1.0%
RYN June 30, 2026 20,028 $412,976 -15.0%
CIVI Dec. 31, 2025 10,100 $328,250 No longer tracked
BCX June 30, 2025 33,408 $311,697 27.0%
COPX Sept. 30, 2025 6,594 $296,730
KVUE June 30, 2025 12,277 $294,402 -16.3%
KRMN June 30, 2026 3,595 $287,780 -33.3%
HSY Sept. 30, 2025 1,555 $258,052 -14.0%
PM Sept. 30, 2025 1,412 $257,168 17.4%
URA Sept. 30, 2025 6,430 $249,548 -12.1%
WAB Sept. 30, 2025 1,169 $244,730 45.2%
TCAF June 30, 2026 6,825 $242,902
ULTA March 31, 2026 381 $230,509 4.7%
RSP March 31, 2026 1,163 $222,784 10.0%
CP Dec. 31, 2025 2,984 $222,278 16.0%
AXP March 31, 2026 600 $221,970 1.1%
TOST Sept. 30, 2025 5,000 $221,450 -16.8%
HLMN June 30, 2026 26,200 $217,984 -16.6%
AMP March 31, 2026 435 $213,298 11.7%
IBDQ Dec. 31, 2025 8,425 $212,226
V Sept. 30, 2025 584 $207,349 8.6%
GDXJ Dec. 31, 2025 2,090 $206,973 -0.2%
OTIS June 30, 2025 1,999 $206,263 -33.1%
CARR Sept. 30, 2025 2,807 $205,477 -6.0%
V March 31, 2026 584 $204,815 22.6%
KHC Sept. 30, 2025 7,900 $203,978 -15.4%
QQQ March 31, 2026 331 $203,337 29.0%
IBDR Sept. 30, 2025 8,375 $203,094
IBDS Sept. 30, 2025 8,300 $201,441
VOO June 30, 2026 336 $200,483 4.5%
NOW Sept. 30, 2025 195 $200,476 -24.7%
WM Sept. 30, 2025 875 $200,218 -5.9%
CLF March 31, 2026 15,000 $199,200 45.0%
ARAY Dec. 31, 2025 100,000 $167,000 -68.1%
FRO Sept. 30, 2025 10,000 $164,100 131.5%
WBD June 30, 2025 11,739 $125,959 170.1%
LPTH March 31, 2026 11,250 $121,500 8.4%
EVLV Sept. 30, 2025 12,500 $78,000 -38.9%
INVE June 30, 2026 15,500 $57,350 -4.0%
BRFH June 30, 2026 15,384 $43,229 -59.7%
NNDM June 30, 2026 20,000 $34,000 8.3%
PXLW June 30, 2025 25,000 $15,670 -4.9%