Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +40.4%
S&P 500 total return (same window) +37.0%
Excess return +3.4%

Annualized: +31.2% · 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: 95.7% · Options excluded: 0.0%

Sector breakdown

04
Materials 49.9%
Technology 12.2%
Financials 10.8%
Health Care 6.0%
Industrials 6.0%
Communication Services 5.2%
Consumer Discretionary 2.9%
Energy 2.7%
Retail 1.5%
Consumer Staples 0.8%
Real Estate 0.5%
Utilities 0.0%
Other/Unmapped 1.4%

Full portfolio 110 positions

05
Type Streak 8Q trend
AU AngloGold Ashanti PLC Ordinary Shares $906,969,752 49.08% 11,195,133 $-565,070,904 Down ×3
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $67,816,092 3.67% 91 $2,977,871
NVDA NVIDIA Corporation - Common Stock $65,113,677 3.52% 327,559 $11,959,941 Up ×5
GOOGL Alphabet Inc. - Class A Common Stock $59,242,940 3.21% 166,667 $-7,756,209 Down ×1
MSFT Microsoft Corporation - Common Stock $55,692,422 3.01% 150,064 $14,999,142 Up ×1
JNJ Johnson & Johnson Common Stock $36,238,312 1.96% 142,414 $-1,069,485 Down ×1
AAPL Apple Inc. - Common Stock $36,236,618 1.96% 125,672 $11,127,981 Up ×4
V Visa Inc. $25,464,683 1.38% 74,316 $2,215,222 Down ×1
EW Edwards Lifesciences Corporation Common Stock $23,754,126 1.29% 262,942 $3,577,716 Up ×4
AMZN Amazon.com, Inc. - Common Stock $23,683,639 1.28% 99,423 $988,145 Down ×1
BKNG Booking Holdings Inc. - Common Stock $22,211,464 1.20% 123,353 $10,557,100 Up ×1
JPM JP Morgan Chase & Co. Common Stock $21,543,541 1.17% 65,600 $-3,346,668 Down ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $17,810,408 0.96% 38,205 $4,273,393 Down ×2
CVX Chevron Corporation Common Stock $17,734,038 0.96% 106,468 $-3,710,694 Up ×1
SLB SLB Limited Common Shares $17,472,122 0.95% 376,149 Up ×1
AVGO Broadcom Inc. - Common Stock $17,194,451 0.93% 45,690 $2,070,170 Down ×2
CFG Citizens Financial Group, Inc. Common Stock $17,076,873 0.92% 243,652 $3,485,676 Up ×2
LLY Eli Lilly and Company Common Stock $16,504,481 0.89% 13,721 $15,029,422 Up ×2
CRH CRH PLC Ordinary Shares $16,454,540 0.89% 153,391 $1,315,531 Up ×2
SNX TD SYNNEX Corporation Common Stock $15,237,379 0.82% 56,871 $6,342,941 Up ×2
J Jacobs Solutions Inc. Common Stock $14,248,099 0.77% 114,386 $630,438 Up ×2
TMO Thermo Fisher Scientific Inc Common Stock $13,665,945 0.74% 27,313 $-2,288,095 Down ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $13,423,742 0.73% 32,257 $10,429,471 Up ×1
COP ConocoPhillips Common Stock $13,123,117 0.71% 126,025 $-3,249,071 Up ×1
MA Mastercard Incorporated Common Stock $13,122,939 0.71% 25,604 $727,568 Up ×1
TKO TKO Group Holdings, Inc. Class A Common Stock $13,111,460 0.71% 64,778 $233,732 Up ×1
BA Boeing Company (The) Common Stock $12,861,967 0.70% 59,411 $1,790,158 Up ×2
PM Philip Morris International Inc Common Stock $12,514,603 0.68% 68,510 $-8,957,517 Down ×2
KGC Kinross Gold Corporation Common Stock $12,058,816 0.65% 514,200
DAL Delta Air Lines, Inc. Common Stock $11,472,819 0.62% 121,925 $3,925,598 Up ×2
SPGI S&P Global Inc. Common Stock $10,679,821 0.58% 26,190 $3,692,949 Up ×6
AER AerCap Holdings N.V. Ordinary Shares $10,565,529 0.57% 71,979 $2,429,614 Up ×2
GM General Motors Company Common Stock $10,219,001 0.55% 133,506 $9,735,860 Up ×1
KEY KeyCorp Common Stock $10,126,155 0.55% 438,666 $1,873,067 Up ×1
DELL Dell Technologies Inc. Class C Common Stock $9,126,930 0.49% 21,194 Up ×1
NTES NetEase, Inc. - American Depositary Shares, each representing 5 ordinary shares $9,047,179 0.49% 70,256 $1,465,770 Up ×3
VRSK Verisk Analytics, Inc. - Common Stock $8,948,782 0.48% 49,995 $3,219,535 Up ×6
MCO Moody's Corporation Common Stock $8,813,001 0.48% 19,476 $421,232
TTWO Take-Two Interactive Software, Inc. - Common Stock $8,607,018 0.47% 34,520 $2,185,442 Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $8,599,074 0.47% 8,494 $-2,595,952 Down ×2
INTU Intuit Inc. - Common Stock $8,554,061 0.46% 32,803 $-2,669,108 Up ×3
RACE Ferrari N.V. Common Shares $8,400,771 0.45% 22,654 $-2,716,961 Down ×1
GNRC Generac Holdlings Inc. Common Stock $8,211,090 0.44% 28,092 $1,796,161 Down ×1
PLD Prologis, Inc. Common Stock $7,968,864 0.43% 58,630 $702,810 Up ×3
TSLA Tesla, Inc. - Common Stock $7,456,008 0.40% 17,834 $1,101,829 Up ×2
IGV iShares Expanded Tech-Software Sector ETF $7,285,601 0.39% 80,849 Up ×1
EEM iShares, Inc. $6,996,960 0.38% 102,768 Up ×1
IYH iShares U.S. Healthcare ETF $6,848,422 0.37% 102,200 Up ×1
IBKR Interactive Brokers Group, Inc. - Class A Common Stock $6,542,760 0.35% 74,305 Up ×1
ADSK Autodesk, Inc. - Common Stock $6,089,163 0.33% 31,447 $-1,427,932 Down ×2
GOOG Alphabet Inc. - Class C Capital Stock $5,568,596 0.30% 15,786 $747,308 Down ×1
FDX FedEx Corporation Common Stock $5,361,705 0.29% 17,164 $-479,012 Up ×1
IWM iShares Russell 2000 Index Fund $4,291,021 0.23% 14,357 $803,562
ELV Elevance Health, Inc. Common Stock $3,815,235 0.21% 9,871 $988,498 Up ×2
COST Costco Wholesale Corporation - Common Stock $3,812,830 0.21% 4,057 Up ×1
CHKP Check Point Software Technologies Ltd. - Ordinary Shares $3,252,948 0.18% 25,319 $-344,213
MU Micron Technology, Inc. - Common Stock $3,011,422 0.16% 2,640 Up ×1
AON Aon plc Class A Ordinary Shares (Ireland) $2,298,943 0.12% 6,931 $184,734 Up ×1
ICE Intercontinental Exchange Inc. Common Stock $2,145,754 0.12% 17,428 $-526,930 Up ×2
ADP Automatic Data Processing, Inc. - Common Stock $2,095,276 0.11% 9,356 $225,410 Up ×2
YUM Yum! Brands, Inc. $2,090,969 0.11% 13,080 $210,128 Up ×1
HLT Hilton Worldwide Holdings Inc. Common Stock $1,942,112 0.11% 5,877 $-368,287 Down ×1
CME CME Group Inc. - Class A Common Stock $1,788,502 0.10% 8,099 $-544,762 Up ×1
MNST Monster Beverage Corporation - Common Stock $1,787,431 0.10% 18,415 $1,511,358 Up ×1
LRCX Lam Research Corporation - Common Stock $1,523,012 0.08% 3,525 Up ×1
SCHW Charles Schwab Corporation (The) Common Stock $1,476,228 0.08% 15,999 $-1,794,757 Down ×1
BR Broadridge Financial Solutions, Inc. Common Stock $1,296,986 0.07% 9,638 Up ×1
CNC Centene Corporation Common Stock $1,292,850 0.07% 20,185 Up ×1
B Barrick Mining Corporation Common Shares $1,253,719 0.07% 34,227 $755,323 Up ×1
CPRT Copart, Inc. - Common Stock $1,206,081 0.07% 42,784 $-163,584 Up ×1
YUMC Yum China Holdings, Inc. Common Stock $1,182,614 0.06% 28,936 $-191,323 Up ×1
GOVT iShares Trust $990,879 0.05% 43,412 Up ×1
BKR Baker Hughes Company - Common Stock $941,584 0.05% 16,790 Up ×1
GE GE Aerospace Common Stock $936,607 0.05% 2,510 $-2,101,132 Down ×1
KLAC KLA Corporation - Common Stock $935,503 0.05% 3,160 $-323,703 Up ×1
XOM Exxon Mobil Corporation Common Stock $927,857 0.05% 6,830 $-1,220,042 Down ×1
Z Zillow Group, Inc. - Class C Capital Stock $877,748 0.05% 29,268 $-3,084,881 Down ×1
ZTS Zoetis Inc. Class A Common Stock $836,810 0.05% 11,645 $-623,008 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $791,612 0.04% 1,433 $-16,698,039 Down ×1
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $754,787 0.04% 7,864 $-362,434 Down ×1
NEM Newmont Corporation $604,787 0.03% 6,509 $415,350 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $603,551 0.03% 4,749 $35,048
ROK Rockwell Automation, Inc. Common Stock $600,992 0.03% 1,222 Up ×1
FANG Diamondback Energy, Inc. - Common Stock $592,703 0.03% 3,311 $-78,801
AZN AstraZeneca PLC - American Depositary Shares $554,503 0.03% 2,963 $-228,115 Down ×1
FISV Fiserv, Inc. - Common Stock $542,885 0.03% 11,068 $-20,583 Up ×1
XP XP Inc. - Class A Common Stock $528,145 0.03% 32,804 Up ×1
EFX Equifax, Inc. Common Stock $486,146 0.03% 3,148 Up ×1
MRSH Marsh Common Stock $431,509 0.02% 2,589 $-17,553
VRSN VeriSign, Inc. - Common Stock $412,559 0.02% 1,640 $-3,007,509 Down ×2
MSI Motorola Solutions, Inc. Common Stock $369,193 0.02% 889 $-16,607
UBS UBS Group AG Registered Ordinary Shares $347,636 0.02% 7,000 $-83,437 Down ×2
TT Trane Technologies plc $308,566 0.02% 627 $-44,540 Down ×2
FCX Freeport-McMoRan, Inc. Common Stock $290,497 0.02% 4,642 $-73,024 Down ×2
IBN ICICI Bank Limited Common Stock $289,535 0.02% 9,902 $-55,918 Down ×1
TRU TransUnion Common Stock $271,837 0.01% 3,833 $-81,737 Down ×2
ASPI ASP Isotopes Inc. - Common Stock $251,842 0.01% 40,489 Up ×1
ABT Abbott Laboratories Common Stock $242,302 0.01% 2,651 $-195,360 Down ×3
ALGN Align Technology, Inc. - Common Stock $225,161 0.01% 1,335 $-3,698
EA Electronic Arts Inc. - Common Stock $218,368 0.01% 1,065 $-356,750 Down ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
NVDA $65,113,677 3.52% up ×5
AAPL $36,236,618 1.96% up ×4
EW $23,754,126 1.29% up ×4
SPGI $10,679,821 0.58% up ×6
NTES $9,047,179 0.49% up ×3
VRSK $8,948,782 0.48% up ×6
INTU $8,554,061 0.46% up ×3
PLD $7,968,864 0.43% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
SLB $17,472,122 376,149 0.95%
KGC $12,058,816 514,200 0.65%
DELL $9,126,930 21,194 0.49%
IGV $7,285,601 80,849 0.39%
EEM $6,996,960 102,768 0.38%
IYH $6,848,422 102,200 0.37%
IBKR $6,542,760 74,305 0.35%
COST $3,812,830 4,057 0.21%
MU $3,011,422 2,640 0.16%
LRCX $1,523,012 3,525 0.08%
BR $1,296,986 9,638 0.07%
CNC $1,292,850 20,185 0.07%
GOVT $990,879 43,412 0.05%
BKR $941,584 16,790 0.05%
ROK $600,992 1,222 0.03%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
AU Trimmed -4.1M -$565.1M
MSFT Bought more +39K +$15.0M
NVDA Bought more +19K +$12.0M
AAPL Bought more +26K +$11.1M
BKNG Bought more +121K +$10.6M
UNH Bought more +21K +$10.4M
PM Trimmed -62K -$9.0M
GOOGL Trimmed -70K -$7.8M
SNX Bought more +3K +$6.3M
TSM Trimmed -3K +$4.3M

6 positions hidden — reported move looks larger than the position itself (data completeness check)

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
KGC June 30, 2025 2,301,696 $28,897,794 53.9%
KGC Dec. 31, 2025 870,664 $21,583,761 -14.6%
VLO June 30, 2026 76,514 $19,434,556 56.0%
AEM June 30, 2026 94,525 $18,720,766 18.4%
META June 30, 2025 27,359 $15,399,561 -1.4%
NFLX March 31, 2026 143,470 $13,451,749 -30.3%
ACM March 31, 2026 115,802 $11,039,407 -29.7%
HDB March 31, 2026 293,246 $10,715,210 -10.2%
NEM Dec. 31, 2025 101,691 $8,582,063 15.7%
TTE March 31, 2026 109,561 $7,152,985 -7.2%
TECK March 31, 2026 144,433 $6,916,898 32.5%
SNPS Dec. 31, 2025 13,508 $6,648,873 4.3%
TWLO March 31, 2026 44,119 $6,275,488 134.1%
ICLR March 31, 2026 32,751 $5,967,888 46.4%
PINS March 31, 2026 221,591 $5,736,993 5.0%
SW March 31, 2026 145,854 $5,632,356 6.8%
BROS March 31, 2026 87,790 $5,374,506 -23.7%
CNI Sept. 30, 2025 49,410 $5,136,943 27.0%
DASH March 31, 2026 22,655 $5,130,906 26.0%
COIN June 30, 2025 25,488 $4,283,769 -47.8%
EL June 30, 2026 33,408 $2,397,693 16.5%
EPAM June 30, 2025 12,566 $2,115,866 -38.8%
KO March 31, 2026 18,390 $1,285,645 12.6%
IDXX Dec. 31, 2025 1,905 $1,217,086 -23.4%
WMT June 30, 2026 6,461 $795,543 -7.9%
GOLD June 30, 2025 24,449 $473,944 90.7%
VALE June 30, 2025 44,875 $444,487 41.7%
PG March 31, 2026 3,058 $438,242 0.3%
TXN March 31, 2026 2,461 $426,959 51.3%
UNH June 30, 2025 798 $417,754 19.2%
ACN March 31, 2026 1,530 $410,500 0.3%
ADBE March 31, 2026 1,129 $395,139 -2.2%
NEE June 30, 2025 5,312 $379,702 10.7%
RBLX Dec. 31, 2025 2,575 $353,818 -45.6%
AZO Dec. 31, 2025 81 $349,775 -17.7%
AMT June 30, 2026 1,741 $298,025 -0.8%
CSCO March 31, 2026 3,850 $296,566 44.6%
LNG March 31, 2026 1,135 $220,633 -4.9%
OKTA March 31, 2026 2,266 $195,942 168.7%
LNWO June 30, 2025 2,209 $189,489 No longer tracked
HOOD March 31, 2026 1,656 $187,294 62.7%
FBIN June 30, 2025 2,708 $163,212 -25.1%