Sector breakdown

04
Financials 58.8%
Industrials 10.3%
Energy 5.3%
Retail 5.0%
Communication Services 4.7%
Consumer Discretionary 4.5%
Technology 2.7%
Real Estate 2.0%
Health Care 1.7%
Consumer products 1.6%
Consumer Staples 0.2%
Utilities 0.1%
Other/Unmapped 3.1%

Full portfolio 124 positions

05
Type Streak 8Q trend
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $769,817,800 29.76% 1,028 $31,569,880
JPM JP Morgan Chase & Co. Common Stock $336,495,240 13.01% 1,028,000 $34,098,760
EPD Enterprise Products Partners L.P. Common Stock $134,174,000 5.19% 3,650,000 $-3,942,000
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $125,597,890 4.86% 251,000 $5,318,690
CSCO Cisco Systems, Inc. - Common Stock $117,460,000 4.54% 1,000,000 $21,248,400 Down ×1
CAT Caterpillar, Inc. Common Stock $106,490,000 4.12% 100,000 $35,644,000
EVR Evercore Inc. Class A Common Stock $102,432,000 3.96% 300,000 $12,879,000
UTF Cohen & Steers Infrastructure Fund, Inc Common Stock $75,872,499 2.93% 2,750,000 $4,702,500
EBAY eBay Inc. - Common Stock $72,637,500 2.81% 650,000 $13,474,500
TRV The Travelers Companies, Inc. Common Stock $72,626,400 2.81% 220,000 $8,456,800
SCHW Charles Schwab Corporation (The) Common Stock $69,202,500 2.68% 750,000 $-1,282,500
YUM Yum! Brands, Inc. $67,940,500 2.63% 425,000 $1,861,500
SWK Stanley Black & Decker, Inc. Common Stock $49,883,600 1.93% 530,000 $12,221,800
MSFT Microsoft Corporation - Common Stock $41,032,200 1.59% 110,000 $313,500
IBP Installed Building Products, Inc. Common Stock $37,923,600 1.47% 165,000 $-5,826,150
QXO QXO, Inc. Common Stock $35,424,000 1.37% 2,050,000 $6,294,000 Up ×1
CART Maplebear Inc. - Common Stock $33,145,000 1.28% 700,000 $6,923,000
PYPL PayPal Holdings, Inc. - Common Stock $21,590,000 0.83% 500,000 $-1,025,000
GFL GFL Environmental Inc. Subordinate voting shares, no par value $20,234,500 0.78% 550,000 $-2,711,500
WMT Walmart Inc. - Common Stock $18,121,600 0.70% 160,000 $-15,434,000 Down ×1
DKNG DraftKings Inc. - Class A Common Stock $15,156,000 0.59% 600,000 $2,184,000
FWRG First Watch Restaurant Group, Inc. - Common Stock $11,601,000 0.45% 900,000 $2,169,000
LAMR Lamar Advertising Company - Class A Common Stock $5,797,465 0.22% 37,168 $1,089,766
HUM Humana Inc. Common Stock $5,291,765 0.20% 13,322 $3,538,792 Up ×1
STRL Sterling Infrastructure, Inc. - Common Stock $4,760,850 0.18% 5,672 Up ×1
CNC Centene Corporation Common Stock $4,531,044 0.18% 70,588 Up ×1
CVLT Commvault Systems, Inc. - Common Stock $4,204,279 0.16% 29,664 Up ×1
QLYS Qualys, Inc. - Common Stock $3,615,162 0.14% 26,294 $1,748,964 Up ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $3,547,818 0.14% 8,536 $2,166,456 Up ×1
O Realty Income Corporation Common Stock $3,531,720 0.14% 57,000 Up ×1
NSP Insperity, Inc. Common Stock $3,528,865 0.14% 85,424 $2,718,665 Up ×1
CACC Credit Acceptance Corporation - Common Stock $3,473,417 0.13% 5,455 $1,279,894 Up ×1
FTDR Frontdoor, Inc. - Common Stock $3,394,097 0.13% 43,744 $-286,492 Down ×1
OC Owens Corning Inc Common Stock New $3,393,001 0.13% 21,345 $1,366,040 Up ×1
AMRX Amneal Pharmaceuticals, Inc. - Class A Common Stock $3,216,735 0.12% 185,831 Up ×1
OHI Omega Healthcare Investors, Inc. Common Stock $3,170,720 0.12% 66,500 Up ×1
ACA Arcosa, Inc. Common Stock $3,161,946 0.12% 21,763 $-519,838 Down ×1
WTS Watts Water Technologies, Inc. Class A Common Stock $3,115,159 0.12% 7,958 $-692,865 Down ×1
NTNX Nutanix, Inc. - Class A Common Stock $3,096,839 0.12% 60,770 $1,640,410 Up ×1
DOC Healthpeak Properties, Inc. Common Stock $3,082,948 0.12% 144,063 $1,197,392 Up ×2
GEN Gen Digital Inc. - Common Stock $3,053,281 0.12% 122,671 $1,155,273 Up ×1
ELV Elevance Health, Inc. Common Stock $3,051,686 0.12% 7,891 $1,251,273 Up ×1
GVA Granite Construction Incorporated Common Stock $3,045,885 0.12% 19,268 Up ×1
AIT Applied Industrial Technologies, Inc. Common Stock $2,944,272 0.11% 8,707 $-205,342 Down ×1
BWA BorgWarner Inc. Common Stock $2,829,636 0.11% 42,615 Up ×1
DBX Dropbox, Inc. - Class A Common Stock $2,792,820 0.11% 101,668 $517,298 Up ×1
F Ford Motor Company Common Stock $2,783,336 0.11% 200,240 Up ×1
EXP Eagle Materials Inc Common Stock $2,743,425 0.11% 12,193 $459,795 Up ×1
KTB Kontoor Brands, Inc. Common Stock $2,739,719 0.11% 32,874 Up ×1
GNTX Gentex Corporation - Common Stock $2,671,999 0.10% 105,738 Up ×1
VTR Ventas, Inc. Common Stock $2,655,120 0.10% 29,900 $-1,311,210 Down ×1
CPAY Corpay, Inc. Common Stock $2,645,831 0.10% 7,939 $413,647 Up ×1
GNL Global Net Lease, Inc. Common Stock $2,641,770 0.10% 295,500 $-124,110
CAH Cardinal Health, Inc. Common Stock $2,597,006 0.10% 10,932 $-1,506,000 Down ×1
EME EMCOR Group, Inc. Common Stock $2,596,695 0.10% 3,129 $-2,746,454 Down ×1
BOX Box, Inc. Class A Common Stock $2,593,250 0.10% 97,711 $543,969 Up ×1
SYF Synchrony Financial Common Stock $2,583,190 0.10% 33,967 Up ×1
EEFT Euronet Worldwide, Inc. - Common Stock $2,547,305 0.10% 34,804 $885,666 Up ×1
ADP Automatic Data Processing, Inc. - Common Stock $2,547,207 0.10% 11,374 Up ×1
HQY HealthEquity, Inc. - Common Stock $2,498,342 0.10% 27,661 Up ×1
GPN Global Payments Inc. Common Stock $2,492,944 0.10% 34,357 Up ×1
HST Host Hotels & Resorts, Inc. - Common Stock $2,454,578 0.09% 103,525 $471,039
FDS FactSet Research Systems Inc. Common Stock $2,444,370 0.09% 10,624 Up ×1
VST Vistra Corp. Common Stock $2,437,509 0.09% 15,366 $-986,708 Down ×1
LAUR Laureate Education, Inc. - Common Stock $2,410,123 0.09% 66,358 Up ×1
OSK Oshkosh Corporation (Holding Company)Common Stock $2,408,715 0.09% 15,694 Up ×1
TTC Toro Company (The) Common Stock $2,408,320 0.09% 24,721 $-1,027,562 Down ×1
HIW Highwoods Properties, Inc. Common Stock $2,406,768 0.09% 79,800 $693,968 Down ×1
TPR Tapestry, Inc. Common Stock $2,398,875 0.09% 16,388
NVR NVR, Inc. Common Stock $2,391,503 0.09% 351 $-40,144 Down ×1
AMP Ameriprise Financial, Inc. Common Stock $2,387,387 0.09% 5,204 Up ×1
AMGN Amgen Inc. - Common Stock $2,377,318 0.09% 6,565 $-643,314 Down ×1
GDDY GoDaddy Inc. Class A Common Stock $2,371,632 0.09% 27,941 $1,143,982 Up ×1
JLL Jones Lang LaSalle Incorporated Common Stock $2,356,550 0.09% 7,603
BMRN BioMarin Pharmaceutical Inc. - Common Stock $2,341,385 0.09% 40,919 Up ×1
COKE Coca-Cola Consolidated, Inc. - Common Stock $2,300,013 0.09% 12,047 $-1,499,507 Down ×1
NXST Nexstar Media Group, Inc. - Common Stock $2,284,523 0.09% 12,792 Up ×1
ANF Abercrombie & Fitch Company Common Stock $2,278,153 0.09% 25,310 Up ×1
RTX RTX Corporation Common Stock $2,273,345 0.09% 11,982 Up ×1
FR First Industrial Realty Trust, Inc. Common Stock $2,268,470 0.09% 37,000 $128,020
DG Dollar General Corporation Common Stock $2,239,350 0.09% 19,454 Up ×1
HESM Hess Midstream LP Class A Representing Limited Partner Interests $2,231,974 0.09% 59,361 Up ×1
ALSN Allison Transmission Holdings, Inc. Common Stock $2,222,556 0.09% 19,714 Up ×1
ROP Roper Technologies, Inc. - Common Stock $2,210,025 0.09% 6,531 Up ×1
BMY Bristol-Myers Squibb Company Common Stock $2,194,803 0.08% 38,091 Up ×1
WDAY Workday, Inc. - Class A Common Stock $2,178,097 0.08% 17,792 Up ×1
CUZ Cousins Properties Incorporated Common Stock $2,173,550 0.08% 72,500 $537,225
MWA MUELLER WATER PRODUCTS Common Stock $2,171,864 0.08% 84,083 Up ×1
REZI Resideo Technologies, Inc. Common Stock $2,127,893 0.08% 68,421 Up ×1
SMA SmartStop Self Storage REIT, Inc. Common Stock $2,112,500 0.08% 65,000 $144,300
BCO Brinks Company (The) Common Stock $2,105,521 0.08% 22,283 Up ×1
COR Cencora, Inc. Common Stock $2,081,035 0.08% 7,354 $-940,678 Down ×1
FISV Fiserv, Inc. - Common Stock $2,031,062 0.08% 41,408 Up ×1
BRX Brixmor Property Group Inc. Common Stock $2,024,226 0.08% 64,200 $175,266
MCK McKesson Corporation Common Stock $2,017,452 0.08% 2,670 $-1,422,354 Down ×1
JKHY Jack Henry & Associates, Inc. - Common Stock $2,016,238 0.08% 14,638 Up ×1
NXRT NexPoint Residential Trust, Inc. Common Stock $2,012,529 0.08% 72,082 $210,479
RMD ResMed Inc. Common Stock $2,005,900 0.08% 10,293 Up ×1
CBOE Cboe Global Markets, Inc. Common Stock $1,994,505 0.08% 8,219 $-1,328,023 Down ×1
BFAM Bright Horizons Family Solutions Inc. Common Stock $1,990,665 0.08% 28,085 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
STRL $4,760,850 5,672 0.18%
CNC $4,531,044 70,588 0.18%
CVLT $4,204,279 29,664 0.16%
O $3,531,720 57,000 0.14%
AMRX $3,216,735 185,831 0.12%
OHI $3,170,720 66,500 0.12%
GVA $3,045,885 19,268 0.12%
BWA $2,829,636 42,615 0.11%
F $2,783,336 200,240 0.11%
KTB $2,739,719 32,874 0.11%
GNTX $2,671,999 105,738 0.10%
SYF $2,583,190 33,967 0.10%
ADP $2,547,207 11,374 0.10%
HQY $2,498,342 27,661 0.10%
GPN $2,492,944 34,357 0.10%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
CAT Price move only +0 +$35.6M
JPM Price move only +0 +$34.1M
BRK-A (filed as BRKA) Price move only +0 +$31.6M
CSCO Trimmed -240K +$21.2M
WMT Trimmed -110K -$15.4M
EBAY Price move only +0 +$13.5M
EVR Price move only +0 +$12.9M
SWK Price move only +0 +$12.2M
TRV Price move only +0 +$8.5M
CART Price move only +0 +$6.9M

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
AXP March 31, 2026 105,000 $38,844,750 0.7%
IPAR June 30, 2025 290,000 $33,022,300 -14.1%
FWRD (filed as FWRDXXXX) June 30, 2025 975,000 $19,587,750 -37.8%
CIEN June 30, 2026 44,268 $17,186,166 -9.6%
FWRD June 30, 2026 975,000 $16,292,250 13.0%
JBL June 30, 2026 19,660 $5,222,286 -19.8%
ENS June 30, 2026 29,211 $5,074,535 -17.7%
KEYS June 30, 2026 17,861 $5,043,411 10.8%
NYT June 30, 2026 53,934 $4,515,894 -8.4%
PLXS June 30, 2026 20,878 $4,228,630 -9.3%
AKAM June 30, 2026 33,231 $3,816,580 -8.1%
TPR June 30, 2025 52,876 $3,722,999 33.0%
PII June 30, 2026 65,343 $3,561,194 -22.9%
CBRE June 30, 2025 25,819 $3,376,609 -6.8%
UTHR June 30, 2025 10,929 $3,369,083 88.5%
CNX June 30, 2025 105,849 $3,332,127 -1.3%
JLL June 30, 2025 12,869 $3,190,354 18.7%
ORLY June 30, 2025 2,223 $3,184,625 -5.5%
AVGO June 30, 2025 18,940 $3,171,124 36.3%
TGT June 30, 2026 25,633 $3,106,720 18.2%
DLR June 30, 2026 17,000 $3,063,570 2.8%
AZO June 30, 2025 797 $3,038,786 -21.9%
NDAQ June 30, 2026 35,264 $2,993,561 17.1%
EXTR June 30, 2025 217,562 $2,878,345 36.7%
CVS June 30, 2026 39,485 $2,835,813 -16.5%
FHI June 30, 2025 69,508 $2,833,841 27.6%
EQIX Sept. 30, 2025 3,500 $2,784,145 33.7%
FOXA June 30, 2026 47,264 $2,760,218 19.0%
SIRI June 30, 2026 118,658 $2,738,627 -10.8%
IRDM June 30, 2026 97,919 $2,716,273 -10.6%
ESNT June 30, 2026 46,347 $2,708,519 -3.7%
LH June 30, 2025 11,489 $2,673,950 18.7%
SLGN June 30, 2025 51,703 $2,643,057 -35.0%
ADSK June 30, 2026 10,218 $2,446,189 19.0%
CCI June 30, 2026 30,000 $2,439,300 -9.8%
CACI June 30, 2025 6,626 $2,431,212 25.8%
HD June 30, 2026 7,298 $2,400,239 -18.7%
SAIC June 30, 2026 23,827 $2,261,659 12.8%
NKE June 30, 2026 42,141 $2,225,888 -15.7%
MAS June 30, 2025 31,818 $2,212,624 8.7%
IT June 30, 2025 5,269 $2,211,610 -54.3%
CMCSA June 30, 2025 57,920 $2,137,248 -39.6%
TKR June 30, 2025 28,717 $2,063,891 64.8%
NSIT June 30, 2025 13,536 $2,030,265 15.5%
FTV June 30, 2026 36,555 $2,020,760 -5.2%
DXC June 30, 2025 118,346 $2,017,799 -22.6%
ACIW June 30, 2026 48,897 $2,005,266 0.8%
G June 30, 2026 53,099 $1,977,938 21.6%
J June 30, 2025 16,329 $1,974,013 5.9%
UPS June 30, 2025 16,894 $1,858,171 -7.8%
FUL June 30, 2025 31,482 $1,766,770 -15.8%
HII June 30, 2025 8,616 $1,758,009 9.2%
CAG June 30, 2026 100,305 $1,576,795 -0.1%
ASGN June 30, 2025 23,966 $1,510,337 No longer tracked
VICI June 30, 2026 51,763 $1,414,165 -14.4%
TNET June 30, 2026 33,760 $1,229,877 26.9%
SAFE June 30, 2026 82,800 $1,120,284 -22.9%
NSA Sept. 30, 2025 35,000 $1,119,650 No longer tracked
PSA March 31, 2026 3,700 $960,150 5.5%
GLPI June 30, 2025 11,960 $608,764 -18.4%
RAL June 30, 2026 12,184 $506,733 0.3%
AMTM June 30, 2025 16,329 $297,188 -20.5%
UTFRT Dec. 31, 2025 2,750,000 $214,500 No longer tracked
MTN Sept. 30, 2025 1,200 $188,556 -2.9%