Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +27.5%
S&P 500 total return (same window) +37.0%
Excess return -9.5%

Annualized: +21.4% · 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: 98.5% · Options excluded: 7.9%

Sector breakdown

04
Technology 25.4%
Communication Services 17.4%
Financials 6.4%
Healthcare 3.9%
Retail 3.5%
Other/Unmapped 43.5%

Full portfolio 15 positions

05
Type Streak 8Q trend
QQQ Invesco QQQ Trust, Series 1 $31,886,000 32.91% 43,300 Put option Up ×1
NTES NetEase, Inc. - American Depositary Shares, each representing 5 ordinary shares $14,364,494 14.82% 112,100
AMD Advanced Micro Devices, Inc. - Common Stock $12,200,272 12.59% 21,002 $8,802,991 Up ×2
KRE SPDR SERIES TRUST $7,799,370 8.05% 104,200 Up ×1
COF Capital One Financial Corporation Common Stock $6,199,158 6.40% 30,900 Up ×1
IBM International Business Machines Corporation Common Stock $4,471,239 4.61% 15,900 Up ×1
NVDA NVIDIA Corporation - Common Stock $4,021,809 4.15% 20,100
SE Sea Limited American Depositary Shares, each representing one Class A Ordinary Share $3,373,216 3.48% 35,200 Up ×1
MSFT Microsoft Corporation - Common Stock $2,939,398 3.03% 7,880
TMO Thermo Fisher Scientific Inc Common Stock $2,526,854 2.61% 5,040
JOYY JOYY Inc. - American Depositary Shares $2,474,625 2.55% 37,500 $717,086 Up ×2
XLV SELECT SECTOR SPDR TRUST $1,475,538 1.52% 9,300 Up ×1
ISRG Intuitive Surgical, Inc. - Common Stock $1,233,603 1.27% 3,102
IHI iShares Trust $983,259 1.01% 19,900 Up ×1
CTSH Cognizant Technology Solutions Corporation - Class A Common Stock $952,758 0.98% 24,600 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
QQQ $31,886,000 43,300 32.91%
NTES $14,364,494 112,100 14.82%
KRE $7,799,370 104,200 8.05%
COF $6,199,158 30,900 6.40%
IBM $4,471,239 15,900 4.61%
NVDA $4,021,809 20,100 4.15%
SE $3,373,216 35,200 3.48%
MSFT $2,939,398 7,880 3.03%
TMO $2,526,854 5,040 2.61%
XLV $1,475,538 9,300 1.52%
ISRG $1,233,603 3,102 1.27%
IHI $983,259 19,900 1.01%
CTSH $952,758 24,600 0.98%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
AMD Bought more +4K +$8.8M
JOYY Bought more +7K +$717K

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
TSM March 31, 2026 60,300 $18,325,000 39.9%
BABA June 30, 2025 127,980 $16,922,795 -6.7%
BMY Dec. 31, 2025 255,500 $11,523,050 13.4%
MRK Dec. 31, 2025 122,300 $10,264,639 37.1%
TME Dec. 31, 2025 392,042 $9,150,260 -55.8%
BIDU June 30, 2026 77,099 $8,590,371 -26.2%
MFC Dec. 31, 2025 257,500 $8,021,125 18.3%
WYNN Dec. 31, 2025 61,492 $7,887,579 -36.9%
NVDA Dec. 31, 2025 37,700 $7,034,066 25.4%
JPM Sept. 30, 2025 24,100 $6,986,831 5.4%
META June 30, 2026 12,160 $6,957,101 29.3%
YMM Dec. 31, 2025 497,885 $6,457,568 -23.9%
AMD Sept. 30, 2025 44,100 $6,257,790 291.8%
MFC June 30, 2025 193,400 $6,024,410 34.3%
PFE Dec. 31, 2025 220,800 $5,625,984 11.6%
LVS June 30, 2026 101,955 $5,493,335 -21.6%
GLW March 31, 2026 59,100 $5,174,796 20.8%
KWEB Sept. 30, 2025 147,000 $5,046,510
PFE June 30, 2026 170,700 $4,793,256 15.4%
NTES March 31, 2026 30,477 $4,194,245 4.7%
GOOGL March 31, 2026 13,200 $4,131,600 19.5%
IQV Dec. 31, 2025 21,100 $4,007,734 14.6%
ZTO March 31, 2026 191,700 $4,004,613 -22.5%
BZ March 31, 2026 193,200 $3,937,416 10.8%
PDD June 30, 2026 38,413 $3,925,040 -1.2%
NFLX Dec. 31, 2025 3,200 $3,836,544 -28.5%
BABA March 31, 2026 25,400 $3,723,132 -15.6%
AXP June 30, 2025 13,500 $3,632,175 -5.1%
AS June 30, 2026 109,600 $3,608,032 -19.7%
LLY Sept. 30, 2025 4,100 $3,196,073 49.8%
WFC Sept. 30, 2025 39,300 $3,148,716 -4.0%
GOOGL Sept. 30, 2025 17,700 $3,119,271 41.3%
SPY June 30, 2026 4,780 $3,108,625 No longer tracked
AAPL Dec. 31, 2025 11,800 $3,004,634 22.7%
TMO Sept. 30, 2025 7,400 $3,000,404 35.0%
YMM June 30, 2025 229,591 $2,931,877 -30.8%
ISRG Sept. 30, 2025 5,300 $2,880,073 -12.4%
AVGO March 31, 2026 7,360 $2,547,296 14.7%
TER Dec. 31, 2025 18,300 $2,518,812 132.0%
TEVA June 30, 2025 163,400 $2,511,458 135.9%
MSFT Dec. 31, 2025 4,500 $2,330,775 7.0%
NKE Dec. 31, 2025 30,800 $2,147,684 -46.8%
AS Sept. 30, 2025 55,000 $2,131,800 -21.8%
VRT Sept. 30, 2025 16,600 $2,131,606 67.2%
MTB June 30, 2025 11,700 $2,091,375 13.0%
INFY Sept. 30, 2025 111,600 $2,067,948 -32.1%
LRCX Dec. 31, 2025 15,200 $2,035,280 103.0%
EDU Dec. 31, 2025 37,200 $1,974,204 0.7%
HTHT June 30, 2026 39,000 $1,961,310 0.1%
SPOT June 30, 2025 3,400 $1,870,102 -38.4%
FUTU June 30, 2025 18,000 $1,842,300 -17.3%
EA Dec. 31, 2025 9,000 $1,815,300 No longer tracked
IBN March 31, 2026 55,000 $1,639,000 5.9%
LEGN Sept. 30, 2025 43,300 $1,536,717 -43.1%
SPOT March 31, 2026 2,560 $1,486,618 -2.5%
TAL June 30, 2025 100,000 $1,321,000 18.0%
HDB June 30, 2025 17,000 $1,129,480 -41.7%
MRVL Dec. 31, 2025 13,400 $1,126,538 220.4%
IBN June 30, 2025 33,800 $1,065,376 -18.4%
TAL Dec. 31, 2025 92,900 $1,040,480 10.5%
MMYT Dec. 31, 2025 10,150 $950,040 -45.7%
KWEB June 30, 2026 33,268 $945,809
LX Dec. 31, 2025 176,000 $938,080 -79.1%
AMZN Sept. 30, 2025 1,099 $241,110 14.6%