Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +36.3%
S&P 500 total return (same window) +37.0%
Excess return -0.7%

Annualized: +28.1% · 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: 91.0% · Options excluded: 0.0%

Sector breakdown

04
Technology 18.2%
Financials 9.6%
Industrials 8.5%
Retail 8.0%
Healthcare 8.0%
Communication Services 6.8%
Energy 3.4%
Materials 2.2%
Consumer products 1.5%
Utilities 1.0%
Consumer Staples 1.0%
Consumer Discretionary 0.7%
Other/Unmapped 31.2%

Full portfolio 179 positions

05
Type Streak 8Q trend
AVGO Broadcom Inc. - Common Stock $14,624,885 5.05% 38,715 $1,899,140 Down ×6
MSFT Microsoft Corporation - Common Stock $8,838,585 3.05% 23,694 $592,582 Up ×1
FBND Fidelity Merrimack Street Trust $7,837,882 2.70% 172,299
IVV iShares Trust $6,827,630 2.36% 9,117 $966,339 Up ×1
TJX TJX Companies, Inc. (The) Common Stock $6,583,736 2.27% 43,457 $-493,849 Down ×2
GOOGL Alphabet Inc. - Class A Common Stock $6,533,593 2.25% 18,282 $870,837 Down ×1
TRV The Travelers Companies, Inc. Common Stock $5,984,914 2.07% 18,129 $187,774 Down ×1
MA Mastercard Incorporated Common Stock $5,552,016 1.92% 10,810 $119,212 Down ×6
GOOG Alphabet Inc. - Class C Capital Stock $5,530,675 1.91% 15,653 $981,936 Down ×2
PANW Palo Alto Networks, Inc. - Common Stock $5,422,559 1.87% 15,901 $2,560,206 Down ×1
AEM Agnico Eagle Mines Limited Common Stock $5,162,949 1.78% 33,281 $-1,638,911 Down ×2
JPM JP Morgan Chase & Co. Common Stock $5,116,168 1.77% 15,630 $661,997 Up ×2
AZO AutoZone, Inc. Common Stock $5,027,214 1.73% 1,573 $-603,545 Down ×6
COST Costco Wholesale Corporation - Common Stock $4,978,571 1.72% 5,322 $-510,762 Down ×1
RTX RTX Corporation Common Stock $4,965,234 1.71% 26,170 $-334,886 Down ×1
IJH iShares Trust $4,943,518 1.71% 64,109 $244,649 Down ×2
AGG iShares Trust $4,897,322 1.69% 49,477 Up ×1
DELL Dell Technologies Inc. Class C Common Stock $4,803,013 1.66% 11,132 $2,585,781 Down ×1
EVLN Eaton Vance Floating-Rate ETF $4,643,199 1.60% 95,726 Up ×1
SPDW SPDR INDEX SHARES FUNDS $4,528,952 1.56% 89,878 Up ×1
GOVT iShares Trust $4,436,769 1.53% 194,766 Up ×1
FTMA Franklin Massachusetts Municipal Income ETF $4,390,822 1.52% 481,186 Up ×1
AAPL Apple Inc. - Common Stock $4,269,624 1.47% 14,755 $548,452 Up ×4
TMO Thermo Fisher Scientific Inc Common Stock $4,030,433 1.39% 8,039 $-66,961 Down ×1
PG Procter & Gamble Company (The) Common Stock $3,929,952 1.36% 26,800 $83,659 Up ×6
VRT Vertiv Holdings, LLC Class A Common Stock $3,691,725 1.27% 11,026 $564,737 Down ×1
CVX Chevron Corporation Common Stock $3,645,394 1.26% 21,992 $-956,062 Down ×1
MUB iShares Trust $3,599,997 1.24% 33,451 Up ×1
AMZN Amazon.com, Inc. - Common Stock $3,576,053 1.23% 15,004 $638,196 Up ×4
MUNI PIMCO ETF Trust $3,445,668 1.19% 65,507 Up ×1
NXPI NXP Semiconductors N.V. - Common Stock $3,106,787 1.07% 11,055 $873,410 Down ×2
VRTX Vertex Pharmaceuticals Incorporated - Common Stock $3,104,066 1.07% 6,249 $121,625 Down ×1
ETN Eaton Corporation, PLC Ordinary Shares $3,029,287 1.05% 7,109 $373,587 Down ×1
JMUB J.P. Morgan Exchange-Traded Fund Trust $3,001,461 1.04% 59,253 Up ×1
EFA iShares Trust $2,764,455 0.95% 26,612 $-489,497 Down ×4
LLY Eli Lilly and Company Common Stock $2,704,715 0.93% 2,255 $852,298 Up ×2
EMXC iShares MSCI Emerging Markets ex China ETF $2,376,531 0.82% 23,231 $35,767 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $2,345,540 0.81% 4,164 $-307,427 Down ×1
VB VANGUARD INDEX FUNDS $2,334,630 0.81% 7,702 $48,331 Down ×1
VOO VANGUARD INDEX FUNDS $2,316,611 0.80% 3,373 $251,990 Down ×1
SPEM SPDR INDEX SHARES FUNDS $2,298,100 0.79% 44,382 Up ×1
NVDA NVIDIA Corporation - Common Stock $2,254,614 0.78% 11,268 $347,899 Up ×2
GEV GE Vernova Inc. Common Stock $2,241,633 0.77% 1,908 $339,584 Down ×1
AZN AstraZeneca PLC - American Depositary Shares $2,188,784 0.76% 11,543 Up ×1
SLV iShares Silver Trust $2,098,698 0.72% 39,250 $-575,797
TT Trane Technologies plc $2,067,784 0.71% 4,210 $198,705 Down ×1
NEE NextEra Energy, Inc. Common Stock $2,057,768 0.71% 23,445 $-148,797 Down ×1
ABBV AbbVie Inc. Common Stock $1,936,932 0.67% 7,697 $245,827 Down ×1
AXP American Express Company Common Stock $1,932,322 0.67% 5,712 $109,039 Down ×1
RSP Invesco Exchange-Traded Fund Trust $1,734,714 0.60% 8,153 $138,899 Down ×2
VEA VANGUARD TAX-MANAGED FUNDS $1,674,162 0.58% 23,497 $71,328 Down ×1
IEUR iShares Trust $1,660,205 0.57% 22,086 $-88,323 Down ×1
EW Edwards Lifesciences Corporation Common Stock $1,633,165 0.56% 18,054 $137,350 Down ×6
AMAT Applied Materials, Inc. - Common Stock $1,613,013 0.56% 2,231 $797,844 Down ×2
NFLX Netflix, Inc. - Common Stock $1,598,504 0.55% 22,388 $-498,720 Up ×1
JNJ Johnson & Johnson Common Stock $1,577,408 0.54% 6,211 $17,880 Down ×1
VLO Valero Energy Corporation Common Stock $1,528,262 0.53% 5,868 $29,969 Down ×1
DE Deere & Company Common Stock $1,453,250 0.50% 2,291 $230,888 Up ×2
IPAC iShares Trust $1,440,247 0.50% 17,579 $-252,690 Down ×1
QCOM QUALCOMM Incorporated - Common Stock $1,411,426 0.49% 7,638 $418,532 Down ×1
LRCX Lam Research Corporation - Common Stock $1,364,990 0.47% 3,150 $830,840 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $1,354,134 0.47% 10,538 $129,582 Up ×6
JSCP J.P. Morgan Exchange-Traded Fund Trust $1,352,826 0.47% 28,695 Up ×1
V Visa Inc. $1,314,378 0.45% 3,831 $-97,687 Down ×1
PEP PepsiCo, Inc. - Common Stock $1,312,432 0.45% 9,693 $-178,197 Up ×4
NVO Novo Nordisk A/S Common Stock $1,249,652 0.43% 26,067 $198,895 Down ×2
JEPI J.P. Morgan Exchange-Traded Fund Trust $1,239,284 0.43% 21,942 $-117,182 Down ×1
CIEN Ciena Corporation Common Stock $1,226,400 0.42% 2,500 $218,555 Down ×1
MAR Marriott International - Class A Common Stock $1,224,800 0.42% 3,305 $-72,687 Down ×1
XOM Exxon Mobil Corporation Common Stock $1,179,894 0.41% 8,630 $-622,404 Down ×1
CSPF Cohen & Steers ETF Trust $1,176,860 0.41% 45,125 $-210,788 Down ×1
CSCO Cisco Systems, Inc. - Common Stock $1,158,743 0.40% 9,865 $354,212 Down ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,109,365 0.38% 2,217 $312,456 Up ×6
BAC Bank of America Corporation Common Stock $1,092,705 0.38% 19,177 $-10,556 Down ×1
VEU VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $1,088,750 0.38% 13,000 Up ×1
GDX VanEck ETF Trust $1,047,548 0.36% 13,884 $-397,370 Down ×2
MS Morgan Stanley Common Stock $971,200 0.34% 4,646 $213,026 Up ×4
ORCL Oracle Corporation Common Stock $943,489 0.33% 6,438 $271,491 Up ×2
APH Amphenol Corporation Common Stock $940,491 0.32% 5,334 $331,610 Up ×2
LOW Lowe's Companies, Inc. Common Stock $940,390 0.32% 4,265 $-120,743 Down ×1
PSX Phillips 66 Common Stock $872,467 0.30% 5,161 $-43,534 Up ×6
IJR iShares Trust $818,026 0.28% 5,515 $58,660 Down ×1
VTI VANGUARD INDEX FUNDS $798,916 0.28% 2,159 $106,287
SYY Sysco Corporation Common Stock $778,966 0.27% 9,320 $146,911 Up ×1
WDC Western Digital Corporation - Common Stock $766,464 0.26% 1,200 $441,876
TSM Taiwan Semiconductor Manufacturing Company Ltd. $759,336 0.26% 1,590 $221,995
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $748,850 0.26% 1 $30,710
SNDK Sandisk Corporation - Common Stock $738,962 0.25% 325 $484,826 Down ×1
FANG Diamondback Energy, Inc. - Common Stock $738,276 0.25% 4,200 $-171,558 Down ×2
GS Goldman Sachs Group, Inc. (The) Common Stock $723,130 0.25% 715 $300,135 Up ×1
EFX Equifax, Inc. Common Stock $714,240 0.25% 4,500 $-276,145 Down ×2
FTCA Franklin California Municipal Income ETF $704,269 0.24% 94,915 Up ×1
PFE Pfizer, Inc. Common Stock $691,048 0.24% 28,698 $-46,024 Up ×3
VTES VANGUARD WELLINGTON FUND $689,921 0.24% 6,810 Up ×1
SU Suncor Energy Inc. Common Stock $671,000 0.23% 12,500 $-155,375
BIL SPDR SERIES TRUST $666,773 0.23% 7,276 Up ×1
HOOD Robinhood Markets, Inc. - Class A Common Stock $649,514 0.22% 6,477 $304,746 Up ×1
SO Southern Company (The) Common Stock $636,184 0.22% 6,647 $86,503 Up ×2
KMI Kinder Morgan, Inc. Common Stock $619,994 0.21% 19,393 $12,162 Up ×2
BMY Bristol-Myers Squibb Company Common Stock $619,242 0.21% 10,747 $-3,088 Up ×4

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
AAPL $4,269,624 1.47% up ×4
PG $3,929,952 1.36% up ×6
AMZN $3,576,053 1.23% up ×4
MRK $1,354,134 0.47% up ×6
PEP $1,312,432 0.45% up ×4
BRK-B (filed as BRKB) $1,109,365 0.38% up ×6
MS $971,200 0.34% up ×4
PSX $872,467 0.30% up ×6
PFE $691,048 0.24% up ×3
BMY $619,242 0.21% up ×4
VZ $597,248 0.21% up ×4
CMCSA $450,272 0.16% up ×3
GLD $338,173 0.12% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
FBND $7,837,882 172,299 2.70%
AGG $4,897,322 49,477 1.69%
EVLN $4,643,199 95,726 1.60%
SPDW $4,528,952 89,878 1.56%
GOVT $4,436,769 194,766 1.53%
FTMA $4,390,822 481,186 1.52%
MUB $3,599,997 33,451 1.24%
MUNI $3,445,668 65,507 1.19%
JMUB $3,001,461 59,253 1.04%
SPEM $2,298,100 44,382 0.79%
AZN $2,188,784 11,543 0.76%
JSCP $1,352,826 28,695 0.47%
VEU $1,088,750 13,000 0.38%
FTCA $704,269 94,915 0.24%
VTES $689,921 6,810 0.24%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
DELL Trimmed -2K +$2.6M
PANW Trimmed -2K +$2.6M
AVGO Trimmed -2K +$1.9M
AEM Trimmed -229 -$1.6M
GOOG Trimmed -204 +$982K
IVV Bought more +144 +$966K
CVX Trimmed -248 -$956K
NXPI Trimmed -290 +$873K
GOOGL Trimmed -1K +$871K
LLY Bought more +241 +$852K

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
FBND June 30, 2025 94,783 $4,326,844
UNH June 30, 2025 3,375 $1,767,656 19.2%
ZTS June 30, 2026 7,206 $851,821 -3.0%
MPWR June 30, 2026 626 $684,437 4.2%
STZ Dec. 31, 2025 4,632 $623,791 -18.2%
RVT June 30, 2026 37,020 $614,532 -6.5%
BXSL June 30, 2026 23,884 $565,812 -0.4%
VWO June 30, 2026 10,256 $554,344
KRE June 30, 2026 8,431 $549,280
RDDT March 31, 2026 2,370 $544,792 9.8%
XLU June 30, 2026 10,350 $474,962 No longer tracked
PEMX March 31, 2026 6,951 $446,801
ACGL March 31, 2026 4,411 $423,103 -2.5%
CPZ June 30, 2026 30,991 $420,548 -4.1%
IEMG Dec. 31, 2025 5,782 $381,149
ADSK June 30, 2026 1,538 $368,197 9.0%
DHI June 30, 2026 2,652 $363,907 -17.1%
ESGV June 30, 2026 2,935 $329,512
SOFI March 31, 2026 12,276 $321,386 -0.7%
LNG March 31, 2026 1,612 $313,357 -4.9%
DMXF June 30, 2026 3,776 $284,899
NEE June 30, 2025 3,947 $279,813 10.7%
FIS March 31, 2026 4,200 $279,132 -30.8%
SCHW Sept. 30, 2025 2,941 $268,337 1.3%
A June 30, 2026 2,299 $262,040 26.3%
FDX June 30, 2026 705 $251,107 -7.3%
AMD June 30, 2026 1,224 $248,998 9.1%
SYK Dec. 31, 2025 666 $246,200 -21.6%
SCHD June 30, 2026 7,899 $242,341 4.7%
DIS June 30, 2026 2,510 $241,974 6.2%
REGN June 30, 2026 309 $238,746 17.9%
BIZD June 30, 2026 18,563 $237,606
IJJ Dec. 31, 2025 1,821 $236,220 6.8%
PKG June 30, 2026 1,084 $230,046 -4.1%
SIL June 30, 2026 2,550 $229,704 11.7%
NUSC June 30, 2026 5,084 $229,085
AMGN June 30, 2026 636 $223,776 11.3%
EMR June 30, 2026 1,704 $223,258 12.9%
MO June 30, 2026 3,370 $222,386 -6.4%
GILD June 30, 2026 1,528 $212,957 14.6%
XYLD Sept. 30, 2025 5,425 $211,250
NOW Dec. 31, 2025 228 $209,824 -12.3%
GWW Sept. 30, 2025 200 $208,048 34.3%
GAP Dec. 31, 2025 9,563 $204,553 -12.1%
SM Sept. 30, 2025 8,178 $202,078 41.1%
SM June 30, 2026 6,466 $201,610 35.0%