Performance vs S&P 500

03
Tracked Q1 2025–Q3 2026 +25.7%
S&P 500 total return (same window) +39.9%
Excess return -14.2%

Annualized: +16.4% · S&P 500: +25.1%

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: 0.0%

Sector breakdown

04
Industrials 36.1%
Health Care 21.0%
Financials 10.8%
Consumer products 6.4%
Real Estate 5.6%
Energy 5.3%
Consumer Discretionary 5.3%
Technology 3.8%
Other/Unmapped 5.6%

Full portfolio 22 positions

05
Type Streak 8Q trend
FLS Flowserve Corporation Common Stock $41,169,997 6.94% 563,047 $-612,563 Down ×1
MHK Mohawk Industries, Inc. Common Stock $38,084,374 6.42% 305,359 $-4,365,838 Down ×1
DLO DLocal Limited - Class A Common Shares $37,577,418 6.33% 2,730,917 $2,066,241 Down ×1
GMED Globus Medical, Inc. Class A Common Stock $36,969,741 6.23% 493,588 $-2,053,772 Down ×1
GNRC Generac Holdlings Inc. Common Stock $36,398,987 6.13% 175,883 $-15,153,434 Down ×3
KNF Knife Riv Holding Co. Common Stock $34,629,565 5.83% 686,822 $1,010,295 Up ×2
Z Zillow Group, Inc. - Class C Capital Stock $33,508,480 5.64% 1,235,108 Up ×1
Unknown issuer (CUSIP: G39104107) $32,962,089 5.55% 1,258,095 Up ×1
TNDM Tandem Diabetes Care, Inc. - Common Stock $32,740,939 5.52% 2,007,415 $2,198,568 Down ×4
WHD Cactus, Inc. Class A Common Stock $31,726,351 5.34% 509,906 $-541,530 Down ×3
LEA Lear Corporation Common Stock $31,484,621 5.30% 266,751 $-4,298,942 Down ×3
NVST Envista Holdings Corporation Common Stock $30,056,949 5.06% 1,280,654 $-3,713,053 Down ×6
ITT ITT Inc. Common Stock $28,047,733 4.72% 138,974 $536,351 Down ×6
MGRC McGrath RentCorp - Common Stock $25,666,544 4.32% 224,456 $-1,516,552 Down ×1
LIVN LivaNova PLC - Ordinary Shares $25,143,408 4.24% 328,672 $-8,876,870 Down ×3
OPLN OPENLANE, Inc. Common Stock $23,488,095 3.96% 688,195 $-4,912,656 Down ×6
TRNS Transcat, Inc. - Common Stock $21,749,463 3.66% 245,979 $-1,085,316 Down ×2
ALGM Allegro MicroSystems, Inc. - Common Stock $17,187,443 2.90% 472,832 Up ×1
CNO CNO Financial Group, Inc. Common Stock $14,461,837 2.44% 273,329 $527,525
AXS Axis Capital Holdings Limited Common Stock $12,072,107 2.03% 128,154 $-1,696,759
DAVA Endava plc American Depositary Shares (each representing one Class A Ordinary Share) $5,274,375 0.89% 2,946,578 $-3,070,262 Down ×3
SKIL Skillsoft Corp. Class A Common Stock $3,231,095 0.54% 560,954 $321,966 Down ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Z $33,508,480 1,235,108 5.64%
Unknown issuer (CUSIP: G39104107) $32,962,089 1,258,095 5.55%
ALGM $17,187,443 472,832 2.90%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
GNRC Trimmed -178 -$15.2M
LIVN Trimmed -85K -$8.9M
OPLN Trimmed -475 -$4.9M
MHK Trimmed -45K -$4.4M
LEA Trimmed -171 -$4.3M
NVST Trimmed -940 -$3.7M
DAVA Trimmed -2K -$3.1M
TNDM Trimmed -17K +$2.2M
DLO Trimmed -2K +$2.1M
GMED Trimmed -318 -$2.1M

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
ACVA Sept. 30, 2026 5,021,589 $36,105,225 No longer tracked
GTES Sept. 30, 2026 1,258,920 $35,211,992 -4.3%
NOMD Sept. 30, 2025 1,204,570 $20,465,644 -8.7%
CHX Sept. 30, 2025 802,975 $19,945,899 No longer tracked
MSM June 30, 2025 211,265 $16,408,953 33.9%
ASAN June 30, 2025 1,104,494 $16,092,478 -11.0%
AVNS Sept. 30, 2025 1,257,824 $15,395,766 No longer tracked
PRGS Sept. 30, 2025 238,145 $15,203,177 5.7%
EHAB March 31, 2026 1,643,889 $15,156,657 No longer tracked
GTLS Dec. 31, 2025 58,813 $11,771,422 No longer tracked
SLB Dec. 31, 2025 318,259 $10,938,562 38.2%
FERG June 30, 2026 321 $5,591,820 -4.4%
NVT Sept. 30, 2025 6,555 $480,154 27.1%
SE Dec. 31, 2025 1,542 $275,602 -41.5%
FWONA March 31, 2026 2,830 $252,945 5.3%
TSM June 30, 2026 706 $238,593 -12.4%
BAM Dec. 31, 2025 4,160 $236,870 -10.2%
FLUT Dec. 31, 2025 840 $218,369 -62.8%
MELI Dec. 31, 2025 92 $214,998 -10.1%
APP Dec. 31, 2025 298 $214,125 -61.4%
SHOP Sept. 30, 2025 1,810 $208,784 13.5%
LRCX Dec. 31, 2025 1,524 $204,064 34.4%
SPOT Sept. 30, 2025 265 $203,345 -16.3%
MNDY Dec. 31, 2025 1,043 $202,019 -27.8%
SE June 30, 2025 1,546 $201,738 -53.3%
MMYT Dec. 31, 2025 2,147 $200,959 -48.7%
NU June 30, 2026 12,942 $185,977 13.5%
GRAB June 30, 2025 13,698 $62,052 -44.5%