Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 -40.3%
S&P 500 total return (same window) +37.0%
Excess return -77.3%

Annualized: -33.9% · 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: 99.6% · Options excluded: 0.0%

Sector breakdown

04
Consumer products 35.1%
Consumer Discretionary 27.7%
Utilities 17.0%
Real Estate 4.6%
Technology 1.7%
Healthcare 0.2%
Other/Unmapped 13.7%

Full portfolio 9 positions

05
Type Streak 8Q trend
ODD ODDITY Tech Ltd. - Class A Ordinary Shares $26,956,531 35.12% 1,781,661 $3,117,907
RNW ReNew Energy Global plc - Class A Shares $13,071,750 17.03% 2,091,480 $3,492,772
XPOF Xponential Fitness, Inc. Class A Common Stock $11,455,299 14.92% 1,655,390 $1,489,851
Unknown issuer (CUSIP: 05501U601) $10,312,348 13.43% 1,147,091 Up ×1
LIND Lindblad Expeditions Holdings Inc. - Common Stock $9,805,888 12.77% 347,234 $-18,484,473 Down ×1
SAFE Safehold Inc. New Common Stock $3,495,511 4.55% 222,644 $483,138
TTAN ServiceTitan, Inc. - Class A Common Stock $1,300,215 1.69% 18,388 $133,313
Unknown issuer (CUSIP: 67623C307) $182,019 0.24% 10,707 Up ×1
TLSI TriSalus Life Sciences, Inc. - Common Stock $181,995 0.24% 39,999 $21,999

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 05501U601) $10,312,348 1,147,091 13.43%
Unknown issuer (CUSIP: 67623C307) $182,019 10,707 0.24%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
LIND Trimmed -1.3M -$18.5M
RNW Price move only +0 +$3.5M
ODD Price move only +0 +$3.1M
XPOF Price move only +0 +$1.5M
SAFE Price move only +0 +$483K
TTAN Price move only +0 +$133K
TLSI Price move only +0 +$22K

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
HAYW June 30, 2025 1,346,472 $18,742,890 -10.1%
EEX June 30, 2026 1,400,339 $6,315,529 No longer tracked
OPITQ June 30, 2025 5,052,548 $2,303,962 No longer tracked