Sector breakdown

04
Financials 40.1%
Technology 10.5%
Healthcare 10.4%
Communication Services 9.0%
Consumer Staples 8.9%
Energy 8.3%
Retail 3.4%
Industrials 3.1%
Consumer products 1.7%
Consumer Discretionary 1.5%
Materials 0.1%
Utilities 0.1%
Other/Unmapped 3.0%

Full portfolio 164 positions

05
Type Streak 8Q trend
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $30,870,908 6.35% 61,996 $-78,214 Up ×6
MKL Markel Group Inc. Common Stock $24,092,459 4.95% 14,069 $-2,579,799 Up ×4
GOOG Alphabet Inc. - Class C Capital Stock $21,321,922 4.38% 62,575 $-1,036,179 Down ×5
SCHW Charles Schwab Corporation (The) Common Stock $17,495,009 3.60% 178,995 $916,766 Down ×1
AAPL Apple Inc. - Common Stock $15,740,858 3.24% 47,267 $2,088,778 Up ×3
CNNE Cannae Holdings, Inc. Common Stock $14,662,938 3.01% 955,863 $837,368 Down ×1
VTRS Viatris Inc. - Common Stock $11,862,542 2.44% 669,444 $1,187,220 Down ×5
WFC Wells Fargo & Company Common Stock $11,241,662 2.31% 140,433 $-425,288 Down ×1
CRM Salesforce, Inc. Common Stock $9,880,922 2.03% 43,041 $3,263,134 Up ×4
PEP PepsiCo, Inc. - Common Stock $9,830,508 2.02% 77,577 $-541,267 Up ×4
MPC Marathon Petroleum Corporation Common Stock $9,536,740 1.96% 24,118 $3,362,565 Down ×5
MSFT Microsoft Corporation - Common Stock $8,881,550 1.83% 17,316 $2,361,338 Down ×2
DEO Diageo plc Common Stock $8,197,950 1.69% 95,770 $735,471 Up ×1
MA Mastercard Incorporated Common Stock $7,973,153 1.64% 14,458 $501,814 Down ×1
AMZN Amazon.com, Inc. - Common Stock $7,957,028 1.64% 31,937 $333,557 Down ×3
C Citigroup, Inc. Common Stock $7,922,234 1.63% 61,185 $-733,872 Down ×5
V Visa Inc. $7,879,388 1.62% 21,928 $292,296 Down ×5
IVZ Invesco Ltd Common Stock $7,496,123 1.54% 248,545 $860,912 Down ×5
DINO HF Sinclair Corporation Common Stock $6,934,053 1.43% 64,611 $2,351,988 Down ×5
FISV Fiserv, Inc. - Common Stock $6,682,226 1.37% 147,902 $-5,319,524 Down ×1
AMG Affiliated Managers Group, Inc. Common Stock $6,584,270 1.35% 18,009 $477,165 Down ×6
BTI British American Tobacco Industries, p.l.c. Common Stock ADR $6,515,349 1.34% 119,767 $-839,884 Up ×1
FBIZ First Business Financial Services, Inc. - Common Stock $5,940,391 1.22% 86,368 $4,433,913 Up ×1
CNC Centene Corporation Common Stock $5,938,734 1.22% 95,601 $-254,381 Down ×2
MDT Medtronic plc. Ordinary Shares $5,731,296 1.18% 66,419 $772,609 Up ×1
JEF Jefferies Financial Group Inc. Common Stock $5,555,050 1.14% 121,475 $-560,253 Down ×5
HSY The Hershey Company Common Stock $5,551,024 1.14% 35,220 $-636,396 Down ×6
MCD McDonald's Corporation Common Stock $5,527,288 1.14% 23,934 $5,133,965 Up ×3
JXN Jackson Financial Inc. Class A Common Stock $5,524,211 1.14% 42,717 $979,528 Down ×6
OXY Occidental Petroleum Corporation Common Stock $5,472,586 1.13% 98,926 $645,117 Down ×1
AIG American International Group, Inc. New Common Stock $5,256,853 1.08% 70,638 $528,148 Up ×4
MMM 3M Company Common Stock $5,242,787 1.08% 31,939 $44,828 Down ×6
DIS Walt Disney Company (The) Common Stock $5,175,346 1.06% 49,336 $709,538 Up ×1
PBR Petroleo Brasileiro S.A. Petrobras ADS $5,085,080 1.05% 243,655 $1,191,102 Up ×4
JAZZ Jazz Pharmaceuticals plc - Ordinary Shares $5,021,669 1.03% 21,690 $-253,646 Down ×5
META Meta Platforms, Inc. - Class A Common Stock $4,648,404 0.96% 6,410 $1,002,228 Down ×2
DHR Danaher Corporation Common Stock $4,621,090 0.95% 20,858 $669,963 Up ×1
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $4,324,936 0.89% 40,217 $558,489 Up ×4
NVDA NVIDIA Corporation - Common Stock $4,109,545 0.84% 17,994 $514,062 Up ×3
SCHX SCHWAB STRATEGIC TRUST $4,030,848 0.83% 134,362 $76,586
SLB SLB Limited Common Shares $3,795,233 0.78% 77,899 $297,139 Up ×3
KDP Keurig Dr Pepper Inc. - Common Stock $3,694,502 0.76% 121,770 $-143,025 Up ×1
PSKY Paramount Skydance Corporation - Class B Common Stock $3,552,763 0.73% 343,927 $-2,530,834 Down ×1
ZTS Zoetis Inc. Class A Common Stock $3,462,667 0.71% 49,587 $2,685,429 Up ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $3,323,542 0.68% 9,054 $-448,300 Down ×2
BMY Bristol-Myers Squibb Company Common Stock $3,305,266 0.68% 52,969 $223,979 Down ×6
TROW T. Rowe Price Group, Inc. - Common Stock $3,168,739 0.65% 30,454 $-229,228 Up ×4
BAC Bank of America Corporation Common Stock $3,045,128 0.63% 55,946 $-165,910 Down ×2
EL Estee Lauder Companies, Inc. (The) Common Stock $2,983,757 0.61% 32,163 $374,459 Down ×4
CLX Clorox Company (The) Common Stock $2,932,871 0.60% 36,204 $2,042,798 Up ×2
NFLX Netflix, Inc. - Common Stock $2,914,394 0.60% 41,886 $33,904 Up ×2
CNH CNH Industrial N.V. Common Shares $2,905,128 0.60% 226,080 $347,316 Down ×6
KKR KKR & Co. Inc. Common Stock $2,826,831 0.58% 30,962 $-55,428 Down ×1
TFC Truist Financial Corporation Common Stock $2,622,525 0.54% 56,642 $-217,713 Down ×2
SJM The J.M. Smucker Company Common Stock $2,586,411 0.53% 21,751 $-977 Down ×1
STZ Constellation Brands, Inc. Common Stock $2,569,251 0.53% 22,725 $-1,809,302 Down ×1
INTU Intuit Inc. - Common Stock $2,513,097 0.52% 9,115 $134,082
BRO Brown & Brown, Inc. Common Stock $2,447,023 0.50% 40,181 $-66,887 Up ×1
SPHR Sphere Entertainment Co. Class A Common Stock $2,337,374 0.48% 17,386 $-670,926
PSX Phillips 66 Common Stock $2,302,130 0.47% 9,017 $777,806
MO Altria Group, Inc. $2,196,227 0.45% 32,614 $-153,588 Down ×1
KMB Kimberly-Clark Corporation - Common Stock $2,158,464 0.44% 22,154 $-131,448 Up ×2
DVN Devon Energy Corporation Common Stock $2,102,555 0.43% 45,668 $213,611 Down ×1
CARR Carrier Global Corporation Common Stock $2,084,241 0.43% 37,992 $-704,966 Down ×3
TGT Target Corporation Common Stock $2,035,908 0.42% 12,993 $-3,049,654 Down ×2
FDS FactSet Research Systems Inc. Common Stock $1,973,874 0.41% 7,312 $162,454 Down ×2
JNJ Johnson & Johnson Common Stock $1,948,501 0.40% 7,360 $226,825 Up ×2
AJG Arthur J. Gallagher & Co. Common Stock $1,841,760 0.38% 8,074 $-13,395 Down ×1
BDX Becton, Dickinson and Company Common Stock $1,840,478 0.38% 10,282 $312,348 Up ×4
FTI TechnipFMC plc Ordinary Share $1,807,080 0.37% 26,606 $37,864 Down ×1
MU Micron Technology, Inc. - Common Stock $1,755,301 0.36% 1,648 $-146,969
BEN Franklin Resources, Inc. Common Stock $1,733,805 0.36% 53,979 $-76,183 Down ×5
AMD Advanced Micro Devices, Inc. - Common Stock $1,699,469 0.35% 2,778 $91,510 Up ×1
TAP Molson Coors Beverage Company Class B Common Stock $1,666,536 0.34% 45,696 $306,988 Up ×4
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $1,571,462 0.32% 16,533 $288,873 Down ×5
BP BP p.l.c. Common Stock $1,568,551 0.32% 35,657 $526,044 Up ×1
EG Everest Group, Ltd. Common Stock $1,413,938 0.29% 3,872 $30,743
GOOGL Alphabet Inc. - Class A Common Stock $1,334,732 0.27% 3,879 $-51,487
VYM Vanguard High Dividend Yield ETF $1,284,435 0.26% 8,276 $-23,421
JPM JP Morgan Chase & Co. Common Stock $1,260,772 0.26% 3,811 $13,513 Up ×1
BATRK Atlanta Braves Holdings, Inc. - Series C Common Stock $1,231,279 0.25% 23,258 $22,943 Down ×2
BKNG Booking Holdings Inc. - Common Stock $1,196,411 0.25% 7,344 $-112,584
FIS Fidelity National Information Services, Inc. Common Stock $1,161,858 0.24% 35,315
KD Kyndryl Holdings, Inc. Common Stock $1,139,005 0.23% 101,155 $44,774 Up ×2
PFE Pfizer, Inc. Common Stock $1,118,174 0.23% 39,207 $170,996 Down ×1
LRCX Lam Research Corporation - Common Stock $1,084,083 0.22% 3,300 $-345,906
ADBE Adobe Inc. - Common Stock $1,055,256 0.22% 4,398 $-1,424,461 Down ×2
SPY SPY $1,047,893 0.22% 1,374 $-128,270 Down ×1
ASB Associated Banc-Corp Common Stock $991,147 0.20% 34,595 $634,369 Up ×1
DE Deere & Company Common Stock $962,331 0.20% 1,433 $53,336
FAST Fastenal Company - Common Stock $940,278 0.19% 18,984 $23,673 Down ×1
USB U.S. Bancorp Common Stock $881,475 0.18% 15,261 $-135,890 Down ×6
WBD Warner Bros. Discovery, Inc. - Series A Common Stock $862,019 0.18% 27,852 $87,546 Down ×4
COST Costco Wholesale Corporation - Common Stock $829,320 0.17% 911 $-25,700 Down ×1
ACGL Arch Capital Group Ltd. - Common Stock $808,519 0.17% 8,754 $23,789 Up ×1
ABBV AbbVie Inc. Common Stock $723,035 0.15% 2,764 $20,204 Down ×4
GS Goldman Sachs Group, Inc. (The) Common Stock $644,746 0.13% 716 $-85,463 Down ×6
ILMN Illumina, Inc. - Common Stock $608,117 0.13% 2,222 $217,423
WMT Walmart Inc. - Common Stock $598,402 0.12% 5,758 $-79,606 Down ×1
VOO Vanguard S&P 500 ETF $582,570 0.12% 831 $-63,387 Down ×3

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
BRK-B (filed as BRKB) $30,870,908 6.35% up ×6
MKL $24,092,459 4.95% up ×4
AAPL $15,740,858 3.24% up ×3
CRM $9,880,922 2.03% up ×4
PEP $9,830,508 2.02% up ×4
MCD $5,527,288 1.14% up ×3
AIG $5,256,853 1.08% up ×4
PBR $5,085,080 1.05% up ×4
BABA $4,324,936 0.89% up ×4
NVDA $4,109,545 0.84% up ×3
SLB $3,795,233 0.78% up ×3
TROW $3,168,739 0.65% up ×4
BDX $1,840,478 0.38% up ×4
TAP $1,666,536 0.34% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
FIS $1,161,858 35,315 0.24%
BK $572,590 3,959 0.12%
QXO $387,324 33,133 0.08%
KWEB $375,837 2,100 0.08%
BN $360,772 9,895 0.07%
SPCX $349,241 2,315 0.07%
XLV $338,693 2,011 0.07%
SCHD $289,706 8,906 0.06%
SCHB $276,148 9,422 0.06%
OTIS $251,469 3,910 0.05%
J $223,060 1,649 0.05%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
FISV Trimmed -97K -$5.3M
FBIZ Bought more +63K +$4.4M
MPC Trimmed -31 +$3.4M
CRM Bought more +798 +$3.3M
TGT Trimmed -26K -$3.0M
ZTS Bought more +39K +$2.7M
MKL Bought more +412 -$2.6M
PSKY Trimmed -273K -$2.5M
MSFT Trimmed -164 +$2.4M
DINO Trimmed -1K +$2.4M

1 position 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
FRFHF June 30, 2026 18,649 $31,776,363 No longer tracked
FIS June 30, 2025 96,905 $7,236,865 -55.2%
PARA Sept. 30, 2025 469,813 $6,060,594
NSRGY June 30, 2026 42,802 $4,241,678 No longer tracked
DG June 30, 2025 45,939 $4,039,416 10.3%
NSRGY June 30, 2025 31,329 $3,169,555 No longer tracked
PARAA June 30, 2025 243,714 $2,914,824 No longer tracked
BK June 30, 2026 23,894 $2,834,545 No longer tracked
XLF June 30, 2025 53,011 $2,640,478 7.2%
CTRA June 30, 2026 65,937 $2,317,026 No longer tracked
KVUE June 30, 2025 91,792 $2,201,172 -7.6%
SVNDY June 30, 2026 156,051 $2,108,249 No longer tracked
SBUX March 31, 2026 22,385 $1,885,041 15.2%
CVS Dec. 31, 2025 21,503 $1,621,115 13.3%
IAC June 30, 2025 29,194 $1,341,172 No longer tracked
OGN June 30, 2026 219,288 $1,313,535 1.8%
RDSB June 30, 2025 17,272 $1,265,692 No longer tracked
TAP June 30, 2025 17,677 $1,075,999 -18.4%
ULTA June 30, 2025 2,368 $867,967 32.4%
AMAT Sept. 30, 2026 1,150 $831,450 -17.2%
LRCX (filed as LRCXXXXX) June 30, 2026 3,300 $705,078 -41.4%
INTC Dec. 31, 2025 20,997 $704,449 158.9%
BUD June 30, 2025 10,895 $670,696 13.7%
MOS Dec. 31, 2025 14,088 $488,572 -23.9%
FN March 31, 2026 880 $400,646 -29.6%
SNDK Sept. 30, 2026 173 $393,355 -19.3%
IAC (filed as IACXXXX) June 30, 2026 9,643 $386,009 No longer tracked
INTC Sept. 30, 2026 2,735 $381,888 -20.5%
BAX Dec. 31, 2025 16,034 $365,094 27.4%
ONTO Sept. 30, 2026 956 $361,798 -27.3%
WAT Sept. 30, 2026 950 $356,288 8.5%
APO (filed as APOXXXX) June 30, 2026 3,077 $342,839 -0.1%
VNQ June 30, 2025 3,626 $328,257
CP (filed as CPXXXX) June 30, 2026 4,000 $314,640 0.9%
GNRC Sept. 30, 2026 969 $283,733 -2.7%
LITE Sept. 30, 2026 304 $261,022 -5.9%
HHH March 31, 2026 3,178 $253,509 16.5%
BLK (filed as BLKXXXX) June 30, 2026 259 $248,934 21.7%
MGEE June 30, 2026 3,128 $241,763 -9.9%
APP March 31, 2026 350 $235,837 -35.4%
ANGI Sept. 30, 2025 15,146 $231,128 -62.4%
WDC Sept. 30, 2026 347 $221,636 -12.8%
IEFA March 31, 2026 2,444 $218,640
CMI Sept. 30, 2026 300 $213,963 1.4%
DECK June 30, 2026 2,119 $212,091 -18.7%
BIIB June 30, 2026 1,144 $209,730 16.4%
YOU Sept. 30, 2026 3,700 $206,201 8.4%
AMGN Sept. 30, 2026 564 $204,236 9.2%
VHT March 31, 2026 700 $201,495
T June 30, 2026 6,942 $201,249 0.0%
NEE Sept. 30, 2025 2,626 $182,297 7.3%
SPXS (filed as SPXSXXXX) Sept. 30, 2025 33,000 $154,770 -38.5%
PDYN Sept. 30, 2026 16,320 $99,226 -23.4%
HBI Sept. 30, 2025 15,950 $73,051 No longer tracked
SABR March 31, 2026 40,678 $55,322 10.3%
FEED June 30, 2026 10,000 $17,000 No longer tracked
QVCGA (filed as QVCGAXXXX) June 30, 2025 79,883 $16,065 No longer tracked