Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +29.2%
S&P 500 total return (same window) +37.0%
Excess return -7.8%

Annualized: +22.7% · 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: 99.7% · Options excluded: 0.0%

Sector breakdown

04
Financials 28.6%
Technology 24.3%
Healthcare 21.7%
Communication Services 8.8%
Energy 5.2%
Industrials 4.1%
Real Estate 3.5%
Utilities 1.2%
Other/Unmapped 2.7%

Full portfolio 28 positions

05
Type Streak 8Q trend
AMD Advanced Micro Devices, Inc. - Common Stock $17,484,810 5.93% 30,099 $1,757,840 Down ×6
AMGN Amgen Inc. - Common Stock $16,991,757 5.76% 46,923 $96,976 Down ×2
RLI RLI Corp. Common Stock (DE) $16,692,532 5.66% 282,589 $570,005 Down ×2
SNOW Snowflake Inc. Common Stock $16,573,804 5.62% 65,123 $8,244,015 Up ×2
RNR RenaissanceRe Holdings Ltd. Common Stock $15,527,889 5.27% 48,999 $-1,479,116 Down ×2
CB Chubb Limited Common Stock $15,400,205 5.22% 45,196 $-1,746,435 Down ×5
DVN Devon Energy Corporation Common Stock $15,254,375 5.17% 369,177 $-7,510,521 Down ×5
BMY Bristol-Myers Squibb Company Common Stock $14,895,346 5.05% 258,510 $-1,005,992 Down ×2
UTHR United Therapeutics Corporation - Common Stock $14,777,330 5.01% 27,273 $-10,242,868 Down ×5
NOW ServiceNow, Inc. Common Stock $13,933,551 4.73% 140,346 Up ×1
ANET Arista Networks, Inc. Common Stock $13,718,320 4.65% 80,753 $4,056,762 Up ×1
V Visa Inc. $13,291,930 4.51% 38,742 $-289,169 Down ×2
RDDT Reddit, Inc. Class A Common Stock $12,346,572 4.19% 71,129 $5,023,901 Up ×1
SHOP Shopify Inc. - Class A Subordinate Voting Shares $12,220,457 4.14% 107,028 $81,123 Up ×2
UBER Uber Technologies, Inc. Common Stock $12,205,287 4.14% 169,142 $1,910,306 Up ×1
MA Mastercard Incorporated Common Stock $12,168,360 4.13% 23,692 $-1,243,159 Down ×2
SMCI Super Micro Computer, Inc. - Common Stock $11,412,215 3.87% 389,097 $3,251,197 Up ×1
MDT Medtronic plc. Ordinary Shares $11,260,896 3.82% 143,946 $3,511,007 Up ×2
AIG American International Group, Inc. New Common Stock $11,091,513 3.76% 148,819 $-695,681 Down ×2
Unknown issuer (CUSIP: 98386P102) $6,797,092 2.31% 370,212 Up ×1
HCAT Health Catalyst, Inc - Common stock $5,922,612 2.01% 2,976,187 $3,539,725 Up ×1
PDM Piedmont Realty Trust, Inc. Class A Common Stock $4,422,341 1.50% 483,316 $2,323,844 Up ×1
NHI National Health Investors, Inc. Common Stock $3,109,044 1.05% 40,769 $-245,837 Down ×6
IRM Iron Mountain Incorporated (Delaware)Common Stock REIT $2,782,862 0.94% 22,032 $481,648 Down ×6
SO Southern Company (The) Common Stock $2,382,700 0.81% 24,895 $-70,838 Down ×6
DUK Duke Energy Corporation (Holding Company) Common Stock $1,089,980 0.37% 8,611 $-45,925 Down ×6
JPST J.P. Morgan Exchange-Traded Fund Trust $782,845 0.27% 15,480 $3,083 Up ×2
DSU Blackrock Debt Strategies Fund, Inc. Common Stock $287,566 0.10% 29,646 $118,341 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
NOW $13,933,551 140,346 4.73%
Unknown issuer (CUSIP: 98386P102) $6,797,092 370,212 2.31%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
UTHR Trimmed -15K -$10.2M
SNOW Bought more +10K +$8.2M
DVN Trimmed -83K -$7.5M
RDDT Bought more +17K +$5.0M
ANET Bought more +2K +$4.1M
HCAT Bought more +1.1M +$3.5M
MDT Bought more +55K +$3.5M
SMCI Bought more +31K +$3.3M
PDM Bought more +164K +$2.3M
UBER Bought more +26K +$1.9M

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
EOG June 30, 2026 99,041 $14,318,357 9.0%
CYBR Sept. 30, 2025 34,236 $13,929,944 No longer tracked
WBD Sept. 30, 2025 969,412 $11,109,462 58.4%
CI June 30, 2026 39,627 $10,570,502 -1.9%
CAVA March 31, 2026 176,694 $10,370,171 -32.7%
PBR June 30, 2026 481,439 $9,989,859 34.0%
ARM Dec. 31, 2025 69,646 $9,854,213 181.3%
COIN March 31, 2026 42,634 $9,641,253 4.8%
AAON March 31, 2026 117,707 $8,975,159 0.6%
GIS Dec. 31, 2025 45,366 $2,287,354 -31.2%