Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +14.6%
S&P 500 total return (same window) +37.0%
Excess return -22.4%

Annualized: +11.6% · 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: 99.9% · Options excluded: 0.0%

Sector breakdown

04
Technology 41.8%
Industrials 30.0%
Healthcare 10.0%
Communication Services 4.9%
Financials 2.9%
Materials 2.7%
Utilities 2.1%
Retail 2.1%
Real Estate 1.3%
Consumer products 1.2%
Consumer Discretionary 0.9%
Consumer Staples 0.0%

Full portfolio 185 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $181,113,865 6.69% 905,162 $29,501,318 Up ×3
CDNS Cadence Design Systems, Inc. - Common Stock $101,903,884 3.76% 271,512 $37,429,152 Up ×6
MSFT Microsoft Corporation - Common Stock $98,161,705 3.63% 263,154 $28,255,471 Up ×6
AVGO Broadcom Inc. - Common Stock $83,807,237 3.10% 221,859 $31,278,128 Up ×2
GOOGL Alphabet Inc. - Class A Common Stock $77,086,496 2.85% 215,705 $25,085,871 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $72,318,648 2.67% 124,492 $35,158,700 Down ×1
SNOW Snowflake Inc. Common Stock $62,919,272 2.32% 247,227 $24,054,768 Down ×1
SNPS Synopsys, Inc. - Common Stock $55,558,465 2.05% 124,551 $-4,656,142 Down ×1
KLAC KLA Corporation - Common Stock $55,441,023 2.05% 183,756 $26,534,670 Up ×1
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $50,977,752 1.88% 66,800 $5,056,166 Down ×1
MDB MongoDB, Inc. - Class A Common Stock $43,285,754 1.60% 128,865 $19,469,633 Up ×1
VRT Vertiv Holdings, LLC Class A Common Stock $42,187,655 1.56% 126,001 $4,252,850 Down ×1
WM Waste Management, Inc. Common Stock $41,161,256 1.52% 184,679 $2,912,940 Up ×2
BSY Bentley Systems, Incorporated - Class B Common Stock $41,039,090 1.52% 1,373,004 $-3,131,404 Up ×6
PWR Quanta Services, Inc. Common Stock $39,888,776 1.47% 55,398 $31,097,319 Up ×2
ECL Ecolab Inc. Common Stock $38,874,732 1.44% 139,531 $-15,031,029 Down ×1
ISRG Intuitive Surgical, Inc. - Common Stock $37,149,675 1.37% 93,416 $-4,929,031 Up ×2
VLTO Veralto Corp Common Stock $37,085,887 1.37% 418,199 $5,768,496 Up ×2
IEX IDEX Corporation Common Stock $34,467,577 1.27% 151,873 $4,006,892 Down ×1
DDOG Datadog, Inc. - Class A Common Stock $32,465,851 1.20% 124,696 $23,889,637 Up ×1
NVT nVent Electric plc Ordinary Shares $32,260,500 1.19% 190,204 $-5,650,842 Down ×1
TMO Thermo Fisher Scientific Inc Common Stock $32,065,482 1.18% 63,957 $-3,951,379 Down ×1
JBTM JBT Marel Corporation Common Stock $30,190,740 1.11% 208,212 $5,328,976 Up ×1
XYL Xylem Inc. Common Stock New $30,005,954 1.11% 253,836 $787,606 Up ×6
PANW Palo Alto Networks, Inc. - Common Stock $29,484,930 1.09% 86,461 $-425,331 Down ×1
NOW ServiceNow, Inc. Common Stock $28,353,474 1.05% 285,591 $-35,607,289 Down ×1
CLH Clean Harbors, Inc. Common Stock $27,673,511 1.02% 92,631 $-9,794,932 Down ×1
WMS Advanced Drainage Systems, Inc. Common Stock $27,241,821 1.01% 173,559 $3,634,617 Up ×2
V Visa Inc. $26,998,095 1.00% 78,691 $15,534,434 Up ×1
FLEX Flex Ltd. - Ordinary Shares $25,236,892 0.93% 155,716 $16,328,441 Up ×2
WCN Waste Connections, Inc. Common Shares $23,601,137 0.87% 141,587 $-460,450 Down ×1
CL Colgate-Palmolive Company Common Stock $23,269,392 0.86% 253,811 $13,483,880 Up ×1
DHR Danaher Corporation Common Stock $22,515,307 0.83% 118,203 $-2,315,467 Down ×1
MANH Manhattan Associates, Inc. - Common Stock $22,367,310 0.83% 160,627 $2,582,749 Up ×1
PNR Pentair plc. Ordinary Share $21,489,255 0.79% 280,319 $1,548,208 Up ×2
FROG JFrog Ltd. - Ordinary shares $21,094,611 0.78% 232,115 $4,454,453 Down ×1
VZ Verizon Communications Inc. Common Stock $20,354,151 0.75% 480,731 $12,255,435 Up ×2
TTEK Tetra Tech, Inc. - Common Stock $19,345,062 0.71% 669,611 $919,995 Up ×5
CNM Core & Main, Inc. Class A Common Stock $19,262,992 0.71% 399,233 $-1,386,208 Down ×1
KEYS Keysight Technologies Inc. Common Stock $18,841,117 0.70% 53,821 $7,596,861 Up ×3
MRK Merck & Company, Inc. Common Stock (new) $18,574,675 0.69% 144,550 $13,318,243 Up ×1
PTC PTC Inc. - Common Stock $18,033,997 0.67% 158,736 $-6,622,330 Down ×1
ENS EnerSys Common Stock $17,599,164 0.65% 75,268 $5,883,835 Up ×1
LIN Linde plc - Ordinary Shares $17,370,479 0.64% 33,473 $3,917,536 Up ×6
TRMB Trimble Inc. - Common Stock $17,285,226 0.64% 337,734 $-47,103 Up ×3
ABBV AbbVie Inc. Common Stock $17,209,911 0.64% 68,391 $11,109,534 Up ×1
EMR Emerson Electric Company Common Stock $16,901,864 0.62% 118,071 $4,401,508 Up ×2
LFUS Littelfuse, Inc. - Common Stock $16,740,207 0.62% 36,765 $651,624 Down ×1
MU Micron Technology, Inc. - Common Stock $16,468,255 0.61% 14,267 Up ×1
DXCM DexCom, Inc. - Common Stock $16,401,005 0.61% 243,519 $-1,983,946 Down ×1
CVS CVS Health Corporation Common Stock $15,986,335 0.59% 154,532 $13,828,503 Up ×1
AXP American Express Company Common Stock $15,806,084 0.58% 46,729 $6,163,627 Up ×1
WTRG Essential Utilities, Inc. Common Stock $15,275,040 0.56% 398,722 $-540,036 Up ×1
HTO H2O America - Common Stock $14,861,304 0.55% 244,550 $3,406,221 Up ×1
ARGX argenx SE - American Depositary Shares $14,743,193 0.54% 15,891 $260,145 Down ×1
ROP Roper Technologies, Inc. - Common Stock $14,592,730 0.54% 43,124 $-635,635 Up ×2
FERG Ferguson Enterprises Inc. Common Stock $14,223,662 0.53% 59,932 $740,301 Up ×1
BRKR Bruker Corporation - Common Stock $13,850,307 0.51% 230,148 $4,102,350 Down ×1
ZS Zscaler, Inc. - Common Stock $13,807,152 0.51% 97,819 $-1,047,034 Down ×1
EBAY eBay Inc. - Common Stock $13,766,930 0.51% 123,194 $1,816,277 Down ×2
APG APi Group Corporation Common Stock $13,738,552 0.51% 324,405 $-5,817,048 Down ×1
MSI Motorola Solutions, Inc. Common Stock $13,719,105 0.51% 33,035 $-2,694,942 Down ×1
SYK Stryker Corporation Common Stock $13,695,225 0.51% 43,499 $-753,863 Down ×1
A Agilent Technologies, Inc. Common Stock $13,520,633 0.50% 101,789 $3,426,678 Up ×1
AXON Axon Enterprise, Inc. - Common Stock $13,454,640 0.50% 24,000 $1,323,795 Down ×1
ITRI Itron, Inc. - Common Stock $13,090,691 0.48% 151,285 $581,032 Up ×3
TJX TJX Companies, Inc. (The) Common Stock $12,847,655 0.47% 84,803 $6,210,842 Up ×1
MSA MSA Safety Incorporated Common Stock $12,678,349 0.47% 72,622 $-542,579 Down ×1
NFLX Netflix, Inc. - Common Stock $12,527,987 0.46% 175,462 $-2,915,818 Up ×6
APH Amphenol Corporation Common Stock $12,063,991 0.45% 68,421 $9,638,071 Up ×1
NDAQ Nasdaq, Inc. - Common Stock $11,975,438 0.44% 151,934 $-2,092,108 Down ×1
AIT Applied Industrial Technologies, Inc. Common Stock $11,833,897 0.44% 34,996 $-260,715 Down ×1
CTAS Cintas Corporation - Common Stock $11,749,126 0.43% 69,080 $2,176,986 Up ×1
APTV Aptiv PLC Ordinary Shares $11,572,462 0.43% 188,538 $-263,239 Up ×2
AWK American Water Works Company, Inc. Common Stock $11,164,958 0.41% 84,853 $-10,145,375 Down ×1
AOS A.O. Smith Corporation Common Stock $11,138,382 0.41% 177,589 $-203,298 Up ×1
WAB Westinghouse Air Brake Technologies Corporation Common Stock $11,006,420 0.41% 40,825 $-4,358,297 Down ×1
EQIX Equinix, Inc. - Common Stock $10,697,006 0.40% 10,262 $-11,460,339 Down ×1
PL Planet Labs PBC Class A Common Stock $10,398,480 0.38% 313,869 $2,147,416 Up ×1
OSIS OSI Systems, Inc. - Common Stock $10,060,200 0.37% 46,000 $-7,199,809 Down ×1
DLR Digital Realty Trust, Inc. Common Stock $10,056,480 0.37% 56,000 $-8,935,311 Down ×1
COST Costco Wholesale Corporation - Common Stock $9,914,111 0.37% 10,598 $3,542,938 Up ×1
PG Procter & Gamble Company (The) Common Stock $9,858,314 0.36% 67,228 $288,297 Up ×1
ACM AECOM Common Stock $9,775,350 0.36% 140,048 $-711,371 Up ×1
SYM Symbotic Inc. - Class A Common Stock $9,747,587 0.36% 216,854 $-341,367 Up ×1
IOT Samsara Inc. Class A Common Stock $9,664,140 0.36% 298,000 Up ×1
MOD Modine Manufacturing Company Common Stock $9,560,384 0.35% 35,804 $1,650,469 Down ×1
ADSK Autodesk, Inc. - Common Stock $9,002,618 0.33% 46,305 $-2,940,090 Down ×1
FSLR First Solar, Inc. - Common Stock $8,979,222 0.33% 38,054 $-22,867,024 Down ×1
MSEX Middlesex Water Company - Common Stock $8,933,203 0.33% 159,067 $-1,268,597 Down ×1
RBRK Rubrik, Inc. Class A Common Stock $8,830,800 0.33% 110,000 Up ×1
MA Mastercard Incorporated Common Stock $8,817,485 0.33% 17,168 $5,412,302 Up ×1
TPR Tapestry, Inc. Common Stock $8,493,846 0.31% 58,026 $2,887,405 Up ×1
ZWS Zurn Elkay Water Solutions Corporation Common Stock $8,366,101 0.31% 165,567 $865,400 Down ×1
EW Edwards Lifesciences Corporation Common Stock $8,306,128 0.31% 91,821 $7,966,268 Up ×2
TOST Toast, Inc. Class A Common Stock $8,234,525 0.30% 295,993 $5,931,416 Up ×1
WY Weyerhaeuser Company Common Stock $8,221,211 0.30% 343,409 $340,264 Up ×2
GNRC Generac Holdlings Inc. Common Stock $8,198,680 0.30% 28,000 $-2,190,337 Down ×1
ROL Rollins, Inc. Common Stock $8,181,040 0.30% 196,000 $-3,813,137 Down ×1
CYRX CryoPort, Inc. - Common Stock $8,132,600 0.30% 518,000 $-1,457,934 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
NVDA $181,113,865 6.69% up ×3
CDNS $101,903,884 3.76% up ×6
MSFT $98,161,705 3.63% up ×6
BSY $41,039,090 1.52% up ×6
XYL $30,005,954 1.11% up ×6
TTEK $19,345,062 0.71% up ×5
KEYS $18,841,117 0.70% up ×3
LIN $17,370,479 0.64% up ×6
TRMB $17,285,226 0.64% up ×3
ITRI $13,090,691 0.48% up ×3
NFLX $12,527,987 0.46% up ×6
HUBB $7,937,990 0.29% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
MU $16,468,255 14,267 0.61%
IOT $9,664,140 298,000 0.36%
RBRK $8,830,800 110,000 0.33%
FBIN $7,555,009 137,614 0.28%
VRNS $6,294,000 150,000 0.23%
BALL $4,340,606 69,561 0.16%
CP $4,018,134 46,372 0.15%
INTC $1,336,818 9,574 0.05%
JNJ $791,624 3,117 0.03%
NET $524,899 2,140 0.02%
JAZZ $389,889 1,618 0.01%
CRWV $333,459 3,350 0.01%
Unknown issuer (CUSIP: G9600F104) $49,992 1,190 0.00%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
CDNS Bought more +39K +$37.4M
NOW Trimmed -326K -$35.6M
AMD Trimmed -58K +$35.2M
AVGO Bought more +52K +$31.3M
PWR Bought more +39K +$31.1M
NVDA Bought more +36K +$29.5M
MSFT Bought more +74K +$28.3M
KLAC Bought more +164K +$26.5M
GOOGL Bought more +35K +$25.1M
SNOW Trimmed -10K +$24.1M

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
MDT June 30, 2026 195,560 $16,945,274 10.4%
TYL June 30, 2026 35,170 $12,041,505 10.4%
IFF March 31, 2026 93,295 $6,287,150 13.6%
EL March 31, 2026 53,289 $5,580,424 28.1%
WDAY March 31, 2026 24,104 $5,177,057 43.3%
CYBR March 31, 2026 9,982 $4,452,571 No longer tracked
BFAM March 31, 2026 36,245 $3,675,243 -21.8%
AMZN June 30, 2026 14,074 $2,931,192 5.5%
TPC Dec. 31, 2025 44,544 $2,921,641 29.4%
ALRM June 30, 2026 62,101 $2,682,142 17.0%
ORCL Sept. 30, 2025 11,130 $2,433,352 -49.4%
NXT Dec. 31, 2025 32,196 $2,382,182 -3.2%
HUBS June 30, 2026 9,154 $2,234,491 17.5%
PINS Dec. 31, 2025 56,145 $1,806,185 -25.6%
ABT Dec. 31, 2025 12,671 $1,697,154 -22.2%
PFE Sept. 30, 2025 68,408 $1,658,210 9.1%
ON Dec. 31, 2025 30,192 $1,488,768 56.8%
MDT Sept. 30, 2025 16,401 $1,429,675 -9.3%
ROK Dec. 31, 2025 3,969 $1,387,285 16.8%
TREX June 30, 2026 32,797 $1,194,467 -12.9%
CMG Dec. 31, 2025 29,138 $1,141,918 -12.5%
ANSS Sept. 30, 2025 2,907 $1,020,997 No longer tracked
ZWS Dec. 31, 2025 16,826 $791,327 2.5%
DCI Dec. 31, 2025 8,576 $701,946 0.0%
UNFI Sept. 30, 2025 28,736 $669,836 21.2%
OMC June 30, 2025 7,954 $659,466 3.1%
KAI June 30, 2025 1,864 $628,000 -15.3%
GO Dec. 31, 2025 37,576 $603,095 15.0%
HASI Dec. 31, 2025 19,129 $587,260 15.4%
ADSK Dec. 31, 2025 1,768 $561,641 -28.4%
ENPH Sept. 30, 2025 13,560 $537,654 -5.4%
OC Sept. 30, 2025 3,803 $522,989 -16.3%
NEO Dec. 31, 2025 64,935 $501,298 57.1%
CSCO Sept. 30, 2025 7,214 $500,507 64.0%
SNPS Dec. 31, 2025 988 $487,469 4.3%
MKC Dec. 31, 2025 7,041 $471,113 -34.4%
GEF June 30, 2025 8,228 $452,458 26.5%
OTIS June 30, 2025 4,324 $446,237 -35.3%
VOYA Dec. 31, 2025 5,871 $439,151 29.7%
DXCM Sept. 30, 2025 4,844 $422,833 26.9%
BMY Dec. 31, 2025 9,134 $411,943 13.4%
ONON Dec. 31, 2025 9,244 $391,483 -33.6%
BCC Sept. 30, 2025 4,042 $350,926 -3.0%
BDX Sept. 30, 2025 1,902 $327,620 20.2%
ST June 30, 2025 13,326 $323,422 44.5%
AMT June 30, 2025 1,365 $297,024 -26.6%
MRK June 30, 2025 3,255 $292,169 82.3%
NOVT Sept. 30, 2025 2,261 $291,511 49.0%
CNM Dec. 31, 2025 5,223 $281,154 -20.4%
ADBE March 31, 2026 782 $273,692 -2.2%
FLNC Sept. 30, 2025 33,936 $227,711 -29.5%
A Dec. 31, 2025 1,770 $227,180 23.3%
GIS Dec. 31, 2025 3,889 $196,083 -31.2%
CSX June 30, 2025 6,578 $193,591 45.4%
CP June 30, 2025 2,687 $188,654 8.4%
CNI June 30, 2025 1,802 $175,623 15.1%
NSC June 30, 2025 701 $166,032 24.0%
SW June 30, 2025 3,143 $141,624 -1.4%
STLD June 30, 2025 1,024 $128,082 81.2%
AMGN June 30, 2025 371 $115,585 44.4%
RMD June 30, 2025 416 $93,122 -15.2%
NUE June 30, 2025 733 $88,209 85.6%
DOV June 30, 2025 460 $80,813 3.5%
BALL June 30, 2025 1,256 $65,400 0.5%
WAT June 30, 2025 177 $65,237 21.8%
DAR June 30, 2025 1,808 $56,482 65.9%
YETI June 30, 2026 1,475 $53,970 -17.5%
HAIN June 30, 2025 9,366 $38,869 -65.8%
WST June 30, 2025 155 $34,701 66.8%
SG Dec. 31, 2025 3,718 $29,670 34.6%
EMN Dec. 31, 2025 456 $28,751 1.6%