Performance vs S&P 500

03
Tracked Q4 2025–Q2 2026 +11.9%
S&P 500 total return (same window) +8.7%
Excess return +3.2%

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: 98.0% · Options excluded: 0.0%

Sector breakdown

04
Technology 28.1%
Industrials 7.0%
Communication Services 6.8%
Financials 6.0%
Retail 5.8%
Healthcare 5.4%
Consumer Discretionary 2.9%
Energy 2.2%
Utilities 1.8%
Consumer Staples 1.2%
Real Estate 1.0%
Materials 0.7%
Other/Unmapped 30.9%

Full portfolio 122 positions

05
Type Streak 8Q trend
XLF SELECT SECTOR SPDR TRUST $5,887,182,000 4.38% 109,815 $5,882,557,808 Up ×2
VGT Vanguard Information Tech ETF $5,487,880,000 4.08% 45,916 $5,482,841,066 Up ×1
XLK SELECT SECTOR SPDR TRUST $5,064,212,000 3.77% 26,581 $5,058,765,625 Down ×1
MU Micron Technology, Inc. - Common Stock $4,751,058,000 3.54% 4,116 $4,749,202,921 Down ×1
XLV SELECT SECTOR SPDR TRUST $4,520,382,000 3.36% 28,491 $4,516,568,527 Up ×2
AMD Advanced Micro Devices, Inc. - Common Stock $3,987,366,000 2.97% 6,864 $3,985,697,467 Down ×1
XLP XLP $3,110,473,000 2.31% 37,444 $3,107,504,996 Up ×2
XLC SELECT SECTOR SPDR TRUST $3,109,341,000 2.31% 29,024 $3,106,345,119 Up ×2
PANW Palo Alto Networks, Inc. - Common Stock $2,745,552,000 2.04% 8,051 $2,744,349,279 Up ×2
XLI SELECT SECTOR SPDR TRUST $2,692,689,000 2.00% 14,537 $2,689,935,223 Down ×1
MSFT Microsoft Corporation - Common Stock $2,611,140,000 1.94% 7,000 $2,609,506,810 Up ×2
GOOG Alphabet Inc. - Class C Capital Stock $2,468,010,000 1.84% 6,985 $2,466,396,986 Up ×2
KLAC KLA Corporation - Common Stock $2,442,946,000 1.82% 8,097 $2,441,828,441 Up ×1
NVDA NVIDIA Corporation - Common Stock $2,426,692,000 1.81% 12,128 $2,424,697,213 Up ×2
GLW Corning Incorporated Common Stock $2,425,819,000 1.81% 9,497 $2,424,616,209 Up ×1
AMAT Applied Materials, Inc. - Common Stock $2,414,820,000 1.80% 3,340 $2,413,766,261 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $2,405,248,000 1.79% 4,270 $2,403,449,795 Up ×2
AMZN Amazon.com, Inc. - Common Stock $2,350,747,000 1.75% 9,863 $2,349,092,711 Up ×2
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $2,315,367,000 1.72% 3,034 $2,314,260,968 Up ×2
XLY XLY $1,972,650,000 1.47% 16,820 $1,970,988,055 Up ×2
AAPL Apple Inc. - Common Stock $1,737,028,000 1.29% 6,003 $1,735,534,446 Up ×2
ORCL Oracle Corporation Common Stock $1,698,661,000 1.26% 11,591 $1,697,037,935 Up ×2
XLU XLU $1,683,837,000 1.25% 37,138 $1,682,195,606 Up ×2
IBM International Business Machines Corporation Common Stock $1,658,295,000 1.23% 5,897 $1,657,200,367 Up ×2
WDC Western Digital Corporation - Common Stock $1,619,155,000 1.20% 2,535 $1,619,019,755 Up ×1
AVGO Broadcom Inc. - Common Stock $1,586,550,000 1.18% 4,200 $1,585,486,524 Up ×2
ANET Arista Networks, Inc. Common Stock $1,573,429,000 1.17% 9,262 $1,572,399,490 Up ×2
GE GE Aerospace Common Stock $1,482,587,000 1.10% 3,967 $1,481,593,805 Up ×2
UBER Uber Technologies, Inc. Common Stock $1,476,249,000 1.10% 20,458 $1,474,866,793 Up ×2
LLY Eli Lilly and Company Common Stock $1,459,706,000 1.09% 1,217 $1,458,666,660 Up ×2
CAT Caterpillar, Inc. Common Stock $1,453,589,000 1.08% 1,365 Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $1,364,338,000 1.02% 1,349 $1,363,272,899 Up ×2
WELL Welltower Inc. Common Stock $1,363,409,000 1.01% 6,007 Up ×1
PGR Progressive Corporation (The) Common Stock $1,332,763,000 0.99% 6,101 $1,331,642,746 Up ×2
CVX Chevron Corporation Common Stock $1,321,770,000 0.98% 7,974 $1,320,133,007 Up ×1
JPM JP Morgan Chase & Co. Common Stock $1,311,284,000 0.98% 4,006 $1,310,189,431 Up ×2
TSLA Tesla, Inc. - Common Stock $1,304,701,000 0.97% 3,102 $1,303,665,304 Up ×2
DELL Dell Technologies Inc. Class C Common Stock $1,283,594,000 0.96% 2,975 Up ×1
MO Altria Group, Inc. $1,279,271,000 0.95% 17,780 $1,278,185,992 Up ×1
AXP American Express Company Common Stock $1,264,379,000 0.94% 3,738 $1,263,325,462 Up ×2
JNJ Johnson & Johnson Common Stock $1,248,770,000 0.93% 4,917 $1,247,656,820 Up ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $1,243,469,000 0.93% 2,485 $1,242,364,444 Up ×2
MCD McDonald's Corporation Common Stock $1,239,371,000 0.92% 4,585 $1,238,168,864 Up ×2
MMM 3M Company Common Stock $1,227,440,000 0.91% 7,581 $1,226,425,133 Up ×2
PLTR Palantir Technologies Inc. - Class A Common Stock $1,214,185,000 0.90% 10,407 $1,212,760,525 Up ×2
DUK Duke Energy Corporation (Holding Company) Common Stock $1,198,333,000 0.89% 9,467 $1,197,127,828 Up ×2
TJX TJX Companies, Inc. (The) Common Stock $1,195,941,000 0.89% 7,894 $1,194,771,357 Up ×2
VZ Verizon Communications Inc. Common Stock $1,195,766,000 0.89% 28,242 $1,194,349,607 Up ×1
XOM Exxon Mobil Corporation Common Stock $1,189,874,000 0.89% 8,703 $1,188,382,010 Down ×2
HD Home Depot, Inc. (The) Common Stock $1,180,067,000 0.88% 3,346 $1,179,078,357 Up ×2
COST Costco Wholesale Corporation - Common Stock $1,171,208,000 0.87% 1,252 $1,170,050,148 Up ×1
USFR WisdomTree Floating Rate Treasury Fund $1,170,638,000 0.87% 23,250
XLRE XLRE $1,168,644,000 0.87% 26,542 $1,167,608,470 Up ×2
CEG Constellation Energy Corporation - Common Stock When-Issued $1,166,594,000 0.87% 4,697 $1,165,509,114 Up ×2
NFLX Netflix, Inc. - Common Stock $1,159,750,000 0.86% 16,243 $1,158,150,256 Down ×1
CDNS Cadence Design Systems, Inc. - Common Stock $1,132,340,000 0.84% 3,017 Up ×1
XLB XLB $1,116,023,000 0.83% 21,956 $1,114,979,327 Up ×2
WMT Walmart Inc. - Common Stock $1,111,307,000 0.83% 9,812 $1,110,175,928 Up ×2
XLE SELECT SECTOR SPDR TRUST $1,027,147,000 0.76% 19,340 $1,026,019,816 Up ×1
GILD Gilead Sciences, Inc. - Common Stock $1,000,613,000 0.74% 7,920 Up ×1
TBIL F/m US Treasury 3 Month Bill Fund $997,200,000 0.74% 20,000 Up ×1
NEM Newmont Corporation $977,898,000 0.73% 10,470 $976,920,286 Up ×1
REGN Regeneron Pharmaceuticals, Inc. - Common Stock $975,217,000 0.73% 1,564 $974,096,672 Up ×2
CME CME Group Inc. - Class A Common Stock $818,617,000 0.61% 3,707 Up ×1
IGV iShares Expanded Tech-Software Sector ETF $724,800,000 0.54% 8,000 $724,399,750 Up ×1
NVO Novo Nordisk A/S Common Stock $606,057,000 0.45% 12,642 $605,592,406
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $535,760,000 0.40% 5,582 $535,564,282 Up ×2
MRK Merck & Company, Inc. Common Stock (new) $516,313,000 0.38% 4,018 $515,782,762 Down ×2
THC Tenet Healthcare Corporation Common Stock $515,031,000 0.38% 2,753 $514,711,514 Up ×2
PFE Pfizer, Inc. Common Stock $470,788,000 0.35% 19,551 $470,251,644 Up ×1
ONON On Holding AG Class A Ordinary Shares $446,894,000 0.33% 12,617 $446,475,996 Up ×2
C Citigroup, Inc. Common Stock $421,280,000 0.31% 3,010 $420,964,720 Up ×2
FXI iShares China Large-Cap ETF $338,013,000 0.25% 10,700 $337,736,570 Up ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $329,595,000 0.25% 793 $329,101,714 Down ×1
CRM Salesforce, Inc. Common Stock $319,586,000 0.24% 2,040 $318,079,573 Down ×1
BA Boeing Company (The) Common Stock $303,058,000 0.23% 1,400 $302,918,679 Up ×1
ADBE Adobe Inc. - Common Stock $291,948,000 0.22% 1,424 $291,614,008 Up ×2
SLB SLB Limited Common Shares $281,590,000 0.21% 6,057 $281,293,120 Up ×2
QCOM QUALCOMM Incorporated - Common Stock $277,185,000 0.21% 1,500
DAL Delta Air Lines, Inc. Common Stock $269,273,000 0.20% 2,875 $269,095,166 Up ×2
ITA iShares U.S. Aerospace & Defense ETF $266,662,000 0.20% 1,100 $266,421,375
XAR SPDR SERIES TRUST $263,925,000 0.20% 930 $263,688,799
LMT Lockheed Martin Corporation Common Stock $254,730,000 0.19% 500
NOC Northrop Grumman Corporation Common Stock $254,655,000 0.19% 500 Up ×1
LULU lululemon athletica inc. - Common Stock $251,767,000 0.19% 2,205 $251,429,414
UPS United Parcel Service, Inc. Common Stock $248,648,000 0.19% 2,313 $248,433,236 Up ×1
SHLD Global X Funds $237,228,000 0.18% 3,973 $237,088,233 Up ×1
T AT&T Inc. $232,792,000 0.17% 11,246 $232,472,646 Up ×2
GEN Gen Digital Inc. - Common Stock $230,780,000 0.17% 9,272 $230,616,706 Up ×2
OXY Occidental Petroleum Corporation Common Stock $228,182,000 0.17% 4,698 $227,890,280 Up ×2
GM General Motors Company Common Stock $209,349,000 0.16% 2,716 $209,097,488 Down ×1
XBI SPDR SERIES TRUST $203,193,000 0.15% 1,284 $202,977,903 Down ×1
TGT Target Corporation Common Stock $198,266,000 0.15% 1,518 $198,088,078 Up ×2
BAC Bank of America Corporation Common Stock $193,504,000 0.14% 3,396 $193,364,770 Up ×2
KHC The Kraft Heinz Company - Common Stock $188,771,000 0.14% 7,992 $188,603,854 Up ×2
ABT Abbott Laboratories Common Stock $184,202,000 0.14% 2,030 $184,004,874 Up ×2
DPZ Domino's Pizza Inc - Common Stock $174,664,000 0.13% 590 $174,463,078 Up ×2
Unknown issuer (CUSIP: 84615Q103) $170,860,000 0.13% 1,000 Up ×1
VGK Vanguard FTSEEuropean ETF $156,185,000 0.12% 1,764 $156,039,593
EUAD Select STOXX Europe Aerospace & Defense ETF $136,790,000 0.10% 3,243 $136,657,880

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
CAT $1,453,589,000 1,365 1.08%
WELL $1,363,409,000 6,007 1.01%
DELL $1,283,594,000 2,975 0.96%
USFR $1,170,638,000 23,250 0.87%
CDNS $1,132,340,000 3,017 0.84%
GILD $1,000,613,000 7,920 0.74%
TBIL $997,200,000 20,000 0.74%
CME $818,617,000 3,707 0.61%
QCOM $277,185,000 1,500 0.21%
LMT $254,730,000 500 0.19%
NOC $254,655,000 500 0.19%
Unknown issuer (CUSIP: 84615Q103) $170,860,000 1,000 0.13%
SMCI $87,990,000 3,000 0.07%
GFS $82,410,000 1,000 0.06%
NOK $66,400,000 5,000 0.05%

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
WM June 30, 2026 4,919 $1,130,337 -7.3%
TMO June 30, 2026 2,241 $1,101,519 35.0%
VRTX June 30, 2026 2,458 $1,097,595 1.4%
V June 30, 2026 3,597 $1,087,157 7.8%
INTU March 31, 2026 1,632 $1,081,069 -34.2%
BX June 30, 2026 9,277 $1,066,762 -5.1%
AMT June 30, 2026 6,179 $1,066,372 -0.8%
LIN March 31, 2026 2,448 $1,043,803 -2.7%
ISRG March 31, 2026 1,836 $1,039,837 -11.8%
PG March 31, 2026 6,936 $993,998 1.0%
QCOM March 31, 2026 5,712 $977,038 40.4%
NOW March 31, 2026 6,120 $937,523 30.2%
VGLT March 31, 2026 15,849 $884,374
USFR March 31, 2026 12,561 $632,070 0.1%
TFLO March 31, 2026 12,522 $631,860
BIL March 31, 2026 6,910 $631,436
SNDK June 30, 2026 700 $444,738 -25.1%
VOO June 30, 2026 600 $358,530 3.7%
LMT March 31, 2026 500 $241,835 -16.2%
ZTS June 30, 2026 1,449 $171,286 -0.6%
ULTA March 31, 2026 261 $157,908 3.8%
INTC June 30, 2026 3,500 $154,455 -16.8%
FTNT March 31, 2026 904 $71,787 125.3%
RKLB June 30, 2026 1,000 $64,220 -28.2%
UAL March 31, 2026 518 $57,923 19.5%
SIRI March 31, 2026 2,319 $46,368 14.0%
CVS March 31, 2026 500 $39,680 21.2%
EA March 31, 2026 65 $13,281 No longer tracked
VIS March 31, 2026 20 $5,968