Performance vs S&P 500

03
Tracked Q2 2025–Q3 2026 +30.9%
S&P 500 total return (same window) +24.2%
Excess return +6.6%

Annualized: +24.0% · S&P 500: +18.9%

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: 99.8% · Options excluded: 0.0%

Sector breakdown

04
Financials 21.8%
Communication Services 17.8%
Healthcare 17.8%
Retail 12.2%
Utilities 10.2%
Technology 9.7%
Industrials 5.9%
Energy 3.7%
Consumer products 0.1%
Real Estate 0.0%
Materials 0.0%
Other/Unmapped 0.8%

Full portfolio 73 positions

05
Type Streak 8Q trend
JPM JP Morgan Chase & Co. Common Stock $53,542,851 6.63% 161,844 $-5,498,970 Down ×6
GOOG Alphabet Inc. - Class C Capital Stock $52,778,922 6.53% 154,895 $-3,730,912 Down ×4
MSFT Microsoft Corporation - Common Stock $51,831,110 6.42% 101,055 $23,398,780 Up ×1
AEP American Electric Power Company, Inc. - Common Stock $46,020,931 5.70% 387,904 $-7,072,157 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $45,621,799 5.65% 62,911 $10,157,061 Down ×6
TMO Thermo Fisher Scientific Inc Common Stock $44,460,143 5.50% 65,862 $11,223,986 Down ×4
C Citigroup, Inc. Common Stock $43,404,674 5.37% 335,223 $-8,460,723 Down ×6
CSCO Cisco Systems, Inc. - Common Stock $43,004,320 5.32% 399,557 $-6,000,227 Down ×4
GILD Gilead Sciences, Inc. - Common Stock $37,364,003 4.62% 250,681 $5,650,642 Down ×4
ROST Ross Stores, Inc. - Common Stock $37,331,863 4.62% 159,948 $-12,847,950 Down ×4
SO Southern Company (The) Common Stock $35,991,252 4.45% 434,205 Up ×1
AJG Arthur J. Gallagher & Co. Common Stock $34,170,878 4.23% 149,800 $-210,673 Up ×1
DG Dollar General Corporation Common Stock $32,986,741 4.08% 275,855 $1,039,112 Down ×4
PFE Pfizer, Inc. Common Stock $29,213,606 3.62% 1,024,320 $4,561,224 Up ×1
EOG EOG Resources, Inc. Common Stock $28,636,584 3.54% 207,873 $1,669,220
TXN Texas Instruments Incorporated - Common Stock $26,327,340 3.26% 93,996 $-4,462,099 Down ×2
MDT Medtronic plc. Ordinary Shares $26,173,310 3.24% 303,318 $2,425,185 Down ×2
KMX CarMax Inc $25,266,006 3.13% 458,465 $972,836 Down ×2
MS Morgan Stanley Common Stock $22,010,438 2.72% 117,027 $-2,452,886
V Visa Inc. $21,690,237 2.68% 60,363 $970,003 Down ×2
FERG Ferguson Enterprises Inc. Common Stock $21,562,083 2.67% 96,856 $-1,428,311 Down ×3
UPS United Parcel Service, Inc. Common Stock $19,913,092 2.46% 213,111 $-3,007,091 Down ×2
Unknown issuer (CUSIP: 438516205) $3,188,042 0.39% 15,114 $-218,485 Down ×1
UNP Union Pacific Corporation Common Stock $3,117,521 0.39% 11,456 $-66,511 Down ×1
KR Kroger Company (The) Common Stock $2,565,211 0.32% 43,760 $121,336 Down ×3
Unknown issuer (CUSIP: 43849R105) $2,342,139 0.29% 15,114 $-1,021,483 Down ×1
JNJ Johnson & Johnson Common Stock $2,165,838 0.27% 8,181 $37,315 Down ×1
GLW Corning Incorporated Common Stock $2,110,356 0.26% 13,725 $-1,395,421
DHR Danaher Corporation Common Stock $1,629,500 0.20% 7,355 $228,520
GOOGL Alphabet Inc. - Class A Common Stock $1,500,189 0.19% 4,360 $-57,944
CVX Chevron Corporation Common Stock $1,304,085 0.16% 6,386 $245,542
Unknown issuer (CUSIP: 30233Q108) $942,974 0.12% 5,794 Up ×1
ABBV AbbVie Inc. Common Stock $904,055 0.11% 3,456 $34,387
LLY Eli Lilly and Company Common Stock $889,795 0.11% 769 $-32,567
VZ Verizon Communications Inc. Common Stock $738,966 0.09% 16,110 $99,209 Up ×1
CSX CSX Corporation - Common Stock $736,718 0.09% 15,840 $-16,157
MRK Merck & Company, Inc. Common Stock (new) $542,733 0.07% 3,735 $62,785
EXC Exelon Corporation - Common Stock $456,803 0.06% 11,307 $-70,329
T AT&T Inc. $419,924 0.05% 17,210 $63,677
TROW T. Rowe Price Group, Inc. - Common Stock $389,147 0.05% 3,740 $-36,054
BAC Bank of America Corporation Common Stock $291,201 0.04% 5,350 $-13,642
PG Procter & Gamble Company (The) Common Stock $261,504 0.03% 1,800 $-2,448
ABT Abbott Laboratories Common Stock $246,087 0.03% 2,490 $20,144
KMB Kimberly-Clark Corporation - Common Stock $207,916 0.03% 2,134 $-26,333
BIIB Biogen Inc. - Common Stock $207,810 0.03% 920 $9,035
FSV FirstService Corporation - Common Shares $127,880 0.02% 1,000 $-14,230
PRAA PRA Group, Inc. - Common Stock $122,202 0.02% 6,270 $3,135
MA Mastercard Incorporated Common Stock $107,537 0.01% 195 $7,385
B Barrick Mining Corporation Common Shares $93,541 0.01% 2,300 $9,062
COST Costco Wholesale Corporation - Common Stock $91,034 0.01% 100 $-2,513
CL Colgate-Palmolive Company Common Stock $82,419 0.01% 966 $-6,144
EFA iShares Trust $77,918 0.01% 750 $8
NEM Newmont Corporation $74,971 0.01% 650 $14,261
AUGO Aura Minerals Inc. - Common Shares $62,551 0.01% 795 $12,506
FNV Franco-Nevada Corporation $59,528 0.01% 250 $7,418
BMY Bristol-Myers Squibb Company Common Stock $59,467 0.01% 953 $4,555
WMT Walmart Inc. - Common Stock $57,676 0.01% 555 $-5,183
ORCL Oracle Corporation Common Stock $54,920 0.01% 400 $-3,700
VLTO Veralto Corp Common Stock $50,367 0.01% 534 $3,012
BHC Bausch Health Companies Inc. Common Stock $49,555 0.01% 8,500 $7,650
SLV iShares Silver Trust $40,883 0.01% 750 $780
GDXJ VanEck Junior Gold Miners ETF $39,883 0.00% 350 $5,495
AXP American Express Company Common Stock $38,013 0.00% 125 $-4,268
VEA VANGUARD TAX-MANAGED FUNDS $35,305 0.00% 500 $-320
NVS Novartis AG Common Stock $31,365 0.00% 220 $-3,113
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $30,375 0.00% 61 $-149
BDX Becton, Dickinson and Company Common Stock $26,850 0.00% 150 $4,150
VWO Vanguard FTSE Emerging Markets ETF $25,207 0.00% 425 $-161
AAPL Apple Inc. - Common Stock $19,981 0.00% 60 $2,619
WAT Waters Corporation Common Stock $8,788 0.00% 20 $1,287
HQH abrdn Healthcare Investors Shares of Beneficial Interest $2,110 0.00% 101 $-110
Unknown issuer (CUSIP: 038ESC026) $1,513 0.00% 1 $0
HQL abrdn Life Sciences Investors Shares of Beneficial Interest $598 0.00% 32 $-42

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
SO $35,991,252 434,205 4.45%
Unknown issuer (CUSIP: 30233Q108) $942,974 5,794 0.12%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
MSFT Bought more +25K +$23.4M
ROST Trimmed -76K -$12.8M
TMO Trimmed -430 +$11.2M
META Trimmed -49 +$10.2M
C Trimmed -35K -$8.5M
AEP Trimmed -175 -$7.1M
CSCO Trimmed -18K -$6.0M
GILD Trimmed -335 +$5.7M
JPM Trimmed -19K -$5.5M
PFE Bought more +550 +$4.6M

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
CVS June 30, 2025 434,935 $42,386,143 30.4%
HON June 30, 2026 30,474 $6,888,038 -2.1%
EEM June 30, 2026 15,000 $851,850
XOM Sept. 30, 2026 5,794 $792,156 11.8%
DFS June 30, 2025 3,043 $747,181 No longer tracked
OTEX Dec. 31, 2025 17,890 $668,728 -16.7%
COF Sept. 30, 2025 3,101 $659,769 -3.6%
SOLS March 31, 2026 7,616 $369,973 -17.0%
VEA March 31, 2026 3,024 $188,909
EIX June 30, 2026 2,269 $166,045 -21.0%
VWO March 31, 2026 2,457 $132,088 7.4%
AMZN Sept. 30, 2025 400 $87,756 11.9%
HQH Sept. 30, 2025 3,940 $61,031 12.7%
GOLD June 30, 2025 1,650 $46,139 76.0%
MCD Sept. 30, 2025 140 $40,904 -17.6%
HD Sept. 30, 2025 110 $40,330 -21.6%
SBUX Sept. 30, 2025 380 $34,819 22.0%
ADBE Sept. 30, 2025 80 $30,950 -29.8%
HQL Sept. 30, 2025 1,489 $19,074 17.9%
PEP March 31, 2026 125 $17,940 -14.6%
ACN March 31, 2026 65 $17,440 23.6%
RTX Sept. 30, 2025 44 $6,425 17.0%
VTRS Sept. 30, 2025 409 $3,652 89.6%