Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +22.8%
S&P 500 total return (same window) +37.0%
Excess return -14.2%

Annualized: +17.9% · 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: 100.0% · Options excluded: 0.0%

Sector breakdown

04
Technology 37.1%
Industrials 20.8%
Healthcare 15.8%
Retail 9.2%
Financials 6.3%
Materials 6.1%
Utilities 4.4%
Communication Services 0.3%
Consumer products 0.0%

Full portfolio 45 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $862,325,672 9.27% 4,309,689 $-19,405,674 Down ×4
TSM Taiwan Semiconductor Manufacturing Company Ltd. $543,050,578 5.84% 1,137,112 $109,950,755 Down ×4
MA Mastercard Incorporated Common Stock $474,883,805 5.11% 924,618 $-3,663,561 Down ×4
MSFT Microsoft Corporation - Common Stock $449,922,176 4.84% 1,206,161 $-125,920,199 Down ×4
PANW Palo Alto Networks, Inc. - Common Stock $445,061,792 4.79% 1,305,090 $188,115,004 Down ×4
LLY Eli Lilly and Company Common Stock $424,649,796 4.57% 354,043 $85,771,577 Down ×2
EBAY eBay Inc. - Common Stock $358,271,617 3.85% 3,206,010 $45,842,645 Down ×5
AVGO Broadcom Inc. - Common Stock $347,288,995 3.73% 919,362 $2,646,515 Down ×1
VRT Vertiv Holdings, LLC Class A Common Stock $330,906,959 3.56% 988,313 $74,635,285 Down ×1
NEE NextEra Energy, Inc. Common Stock $312,118,458 3.36% 3,556,095 $-24,430,086 Down ×4
ECL Ecolab Inc. Common Stock $310,352,037 3.34% 1,113,930 $-890,033 Down ×4
SHOP Shopify Inc. - Class A Subordinate Voting Shares $296,895,061 3.19% 2,600,237 $-19,967,665 Down ×4
TMO Thermo Fisher Scientific Inc Common Stock $296,432,610 3.19% 591,257 $-5,902,578 Down ×5
HUBB Hubbell Inc Common Stock $293,943,701 3.16% 561,819 $11,321,137 Down ×1
WM Waste Management, Inc. Common Stock $292,632,971 3.15% 1,312,962 $-20,379,384 Down ×4
TJX TJX Companies, Inc. (The) Common Stock $288,076,644 3.10% 1,901,496 $-96,530,463 Down ×4
EW Edwards Lifesciences Corporation Common Stock $229,802,865 2.47% 2,540,381 $19,407,480 Down ×4
CP Canadian Pacific Kansas City Limited Common Shares $224,113,900 2.41% 2,586,427 $71,186,117 Up ×1
XYL Xylem Inc. Common Stock New $201,807,403 2.17% 1,707,194 $-14,182,633 Down ×4
LOW Lowe's Companies, Inc. Common Stock $200,162,145 2.15% 907,806 $-22,277,754 Down ×2
ISRG Intuitive Surgical, Inc. - Common Stock $195,787,408 2.11% 492,324 $-40,406,811 Down ×4
DHR Danaher Corporation Common Stock $190,479,238 2.05% 999,996 $-8,871,890 Down ×5
AGCO AGCO Corporation Common Stock $182,941,340 1.97% 1,528,332 $-904,027 Down ×1
WTS Watts Water Technologies, Inc. Class A Common Stock $161,314,588 1.73% 412,095 $34,206,757 Down ×4
FSLR First Solar, Inc. - Common Stock $154,700,331 1.66% 655,621 $16,903,963 Down ×4
BALL Ball Corporation Common Stock $149,722,248 1.61% 2,399,395 $7,443,414 Down ×4
AMD Advanced Micro Devices, Inc. - Common Stock $145,124,098 1.56% 249,822 Up ×1
VLTO Veralto Corp Common Stock $144,373,966 1.55% 1,628,033 $-4,997,212 Down ×1
BSX Boston Scientific Corporation Common Stock $132,371,081 1.42% 3,101,478 $-5,892,332 Up ×2
SW Smurfit WestRock plc Ordinary Shares $109,330,283 1.18% 2,363,387 Up ×1
V Visa Inc. $100,766,562 1.08% 293,703 $2,307,651 Down ×4
WMS Advanced Drainage Systems, Inc. Common Stock $97,176,604 1.04% 619,117 $10,943,363 Down ×4
AWK American Water Works Company, Inc. Common Stock $91,741,523 0.99% 697,230 $-10,420,560 Down ×4
CRM Salesforce, Inc. Common Stock $88,278,850 0.95% 563,506 $-25,487,368 Down ×4
ORCL Oracle Corporation Common Stock $62,921,829 0.68% 429,354 Up ×1
ACN Accenture plc Class A Ordinary Shares (Ireland) $41,937,898 0.45% 337,013 $-93,435,875 Down ×4
GOOGL Alphabet Inc. - Class A Common Stock $23,974,166 0.26% 67,085 $18,388,601 Up ×1
AAPL Apple Inc. - Common Stock $11,638,059 0.13% 40,220 $7,724,617 Up ×1
JPM JP Morgan Chase & Co. Common Stock $10,362,613 0.11% 31,658 Up ×1
ORLY O'Reilly Automotive, Inc. - Common Stock $7,561,326 0.08% 82,108 Up ×1
JCI Johnson Controls International plc Ordinary Share $5,497,389 0.06% 37,625 $-260,090 Down ×2
NDAQ Nasdaq, Inc. - Common Stock $3,152,012 0.03% 39,990 $-2,468,300 Down ×2
CL Colgate-Palmolive Company Common Stock $2,656,795 0.03% 28,979 $-229,604 Down ×2
ES Eversource Energy (D/B/A) Common Stock $2,436,583 0.03% 33,715 $-600,791 Down ×4
INTU Intuit Inc. - Common Stock $1,286,991 0.01% 4,931 $-1,204,815 Down ×2

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
AMD $145,124,098 249,822 1.56%
SW $109,330,283 2,363,387 1.18%
ORCL $62,921,829 429,354 0.68%
JPM $10,362,613 31,658 0.11%
ORLY $7,561,326 82,108 0.08%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
PANW Trimmed -298K +$188.1M
MSFT Trimmed -349K -$125.9M
TSM Trimmed -144K +$110.0M
TJX Trimmed -507K -$96.5M
ACN Trimmed -346K -$93.4M
LLY Trimmed -14K +$85.8M
VRT Trimmed -34K +$74.6M
CP Bought more +642K +$71.2M
EBAY Trimmed -227K +$45.8M
ISRG Trimmed -20K -$40.4M

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
APTV June 30, 2025 2,690,741 $160,099,090 -36.2%
ROP March 31, 2026 193,763 $86,249,724 0.1%
ENPH June 30, 2025 1,096,831 $68,058,364 -15.6%
AMZN June 30, 2026 15,144 $3,154,041 5.5%
META June 30, 2026 3,798 $2,172,950 29.3%
CSCO June 30, 2025 18,315 $1,130,219 61.7%