Performance vs S&P 500

03
Tracked Q1 2025–Q3 2026 +55.0%
S&P 500 total return (same window) +39.9%
Excess return +15.1%

Annualized: +33.9% · 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: 99.2% · Options excluded: 0.0%

Sector breakdown

04
Technology 49.6%
Industrials 13.3%
Communication Services 9.6%
Healthcare 8.5%
Financials 7.7%
Retail 6.7%
Consumer Discretionary 0.8%
Energy 0.8%
Materials 0.6%
Real Estate 0.5%
Utilities 0.1%
Consumer products 0.1%
Consumer Staples 0.1%
Other/Unmapped 1.6%

Full portfolio 144 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $82,141,814 17.60% 359,672 $9,842,994 Down ×6
AAPL Apple Inc. - Common Stock $44,013,686 9.43% 132,165 $5,800,946 Up ×1
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $35,108,255 7.52% 132,609 $9,810,863 Up ×4
GOOGL Alphabet Inc. - Class A Common Stock $29,532,390 6.33% 85,830 $-1,076,953 Up ×3
MSFT Microsoft Corporation - Common Stock $27,334,263 5.86% 53,294 $7,482,099 Up ×1
AMZN Amazon.com, Inc. - Common Stock $27,063,919 5.80% 108,625 $1,231,915 Up ×1
LLY Eli Lilly and Company Common Stock $20,025,198 4.29% 17,307 $-570,956 Up ×3
PWR Quanta Services, Inc. Common Stock $18,851,335 4.04% 29,340 $-1,989,608 Up ×6
AVGO Broadcom Inc. - Common Stock $11,896,509 2.55% 33,875 $-643,263 Up ×2
GEV GE Vernova Inc. Common Stock $9,802,790 2.10% 10,313 $-1,768,870 Up ×5
JPM JP Morgan Chase & Co. Common Stock $7,377,995 1.58% 22,301 $117,799 Up ×6
VRTX Vertex Pharmaceuticals Incorporated - Common Stock $7,295,146 1.56% 13,954 $304,305 Down ×2
C Citigroup, Inc. Common Stock $6,513,820 1.40% 50,308 $-338,732 Up ×3
AMD Advanced Micro Devices, Inc. - Common Stock $5,543,157 1.19% 9,061 $282,436 Up ×1
NOW ServiceNow, Inc. Common Stock $5,042,496 1.08% 37,628 $3,206,951 Up ×4
GOOG Alphabet Inc. - Class C Capital Stock $4,533,886 0.97% 13,306 $-167,523
COHR Coherent Corp. Common Stock $4,495,349 0.96% 15,619 $-1,477,382 Up ×5
GE GE Aerospace Common Stock $4,469,742 0.96% 14,313 $-777,317 Up ×3
RTX RTX Corporation Common Stock $4,325,528 0.93% 23,299 $108,503 Up ×3
GLW Corning Incorporated Common Stock $4,197,340 0.90% 27,298 $-2,775,388
CAT Caterpillar, Inc. Common Stock $3,892,603 0.83% 4,801 $-1,219,982
CIEN Ciena Corporation Common Stock $3,649,077 0.78% 10,372 Up ×1
ZS Zscaler, Inc. - Common Stock $3,582,080 0.77% 17,962 $-70,387 Down ×1
TSLA Tesla, Inc. - Common Stock $3,489,895 0.75% 9,836 $-378,229 Up ×6
BA Boeing Company (The) Common Stock $3,168,618 0.68% 17,031 $203,845 Up ×5
COST Costco Wholesale Corporation - Common Stock $3,059,621 0.66% 3,361 $-227,558 Down ×2
MRVL Marvell Technology, Inc. - Common Stock $2,983,817 0.64% 11,293 $-360,997 Up ×1
MA Mastercard Incorporated Common Stock $2,979,458 0.64% 5,403 $157,341 Down ×2
AXP American Express Company Common Stock $2,925,442 0.63% 9,620 $-307,552 Up ×5
AZN AstraZeneca PLC - American Depositary Shares $2,851,958 0.61% 17,595 $-83,370 Up ×2
DE Deere & Company Common Stock $2,722,464 0.58% 4,054 $150,256 Down ×1
OLED Universal Display Corporation - Common Stock $2,674,942 0.57% 34,722 $-529,990 Down ×4
META Meta Platforms, Inc. - Class A Common Stock $2,195,861 0.47% 3,028 $289,643 Down ×3
LITE Lumentum Holdings Inc. - Common Stock $2,119,289 0.45% 2,182 $234,131 Down ×2
WFC Wells Fargo & Company Common Stock $1,999,409 0.43% 24,977 $-35,466 Up ×5
FCX Freeport-McMoRan, Inc. Common Stock $1,914,949 0.41% 27,356 $112,496 Down ×3
LEU Centrus Energy Corp. Class A Common Stock $1,910,316 0.41% 13,695 $-467,395 Down ×1
BAC Bank of America Corporation Common Stock $1,834,672 0.39% 33,707 $-95,118 Down ×2
ABBV AbbVie Inc. Common Stock $1,824,329 0.39% 6,974 $68,133 Down ×1
CSCO Cisco Systems, Inc. - Common Stock $1,687,794 0.36% 15,681 $-192,528 Down ×1
NXPI NXP Semiconductors N.V. - Common Stock $1,592,876 0.34% 6,706 $-497,425 Down ×6
QCOM QUALCOMM Incorporated - Common Stock $1,583,112 0.34% 8,602 $-419,827 Down ×6
RVMD Revolution Medicines, Inc. - Common Stock $1,504,075 0.32% 7,328 Up ×1
IVV iShares Core S&P 500 ETF $1,435,203 0.31% 1,874 $31,783
ENTG Entegris, Inc. - Common Stock $1,432,912 0.31% 9,301 $-329,896 Down ×1
AMT American Tower Corporation (REIT) Common Stock $1,393,493 0.30% 8,513 $-148,809 Down ×6
DELL Dell Technologies Inc. Class C Common Stock $1,391,748 0.30% 2,587 $239,261 Down ×5
AMGN Amgen Inc. - Common Stock $1,375,946 0.29% 3,264 $152,769 Down ×2
BWXT BWX Technologies, Inc. Common Stock $1,026,437 0.22% 7,492 $-499,851 Down ×2
VOO Vanguard S&P 500 ETF $997,138 0.21% 1,423 $-466,720 Down ×2
MLM Martin Marietta Materials, Inc. Common Stock $960,100 0.21% 2,001 $-195,030 Down ×1
REGN Regeneron Pharmaceuticals, Inc. - Common Stock $864,428 0.19% 1,140 $153,592
ISRG Intuitive Surgical, Inc. - Common Stock $843,757 0.18% 2,075 $44,023 Up ×4
UBER Uber Technologies, Inc. Common Stock $827,680 0.18% 12,081 $-409,597 Down ×3
IRM Iron Mountain Incorporated (Delaware)Common Stock REIT $776,761 0.17% 7,001 $-107,535
ACM AECOM Common Stock $758,510 0.16% 12,867 $-174,507 Down ×6
PANW Palo Alto Networks, Inc. - Common Stock $728,269 0.16% 1,833 $102,838 Down ×1
AXTI AXT Inc - Common Stock $720,687 0.15% 9,310 $49,622
DIS Walt Disney Company (The) Common Stock $715,838 0.15% 6,824 $-101,998 Down ×6
PFF iShares Preferred and Income Securities ETF $699,032 0.15% 23,696 $628 Up ×6
TMO Thermo Fisher Scientific Inc Common Stock $681,125 0.15% 1,009 $163,714 Down ×1
VCSH Vanguard Short-Term Corporate Bond ETF $654,837 0.14% 8,477 $5,075 Up ×6
IONQ IonQ, Inc. Common Stock $638,865 0.14% 14,566 $-133,991 Up ×5
V Visa Inc. $633,964 0.14% 1,764 $-89,372 Down ×3
GS Goldman Sachs Group, Inc. (The) Common Stock $606,843 0.13% 674 $-74,820
Unknown issuer (CUSIP: 30233Q108) $577,112 0.12% 3,546 Up ×1
NBIS Nebius Group N.V. - Class A Ordinary Shares $575,783 0.12% 2,441 $7,701 Up ×2
MCK McKesson Corporation Common Stock $556,684 0.12% 652 $62,514 Down ×1
TRP TC Energy Corporation Common Stock $545,559 0.12% 9,442 $-85,986 Down ×2
CVX Chevron Corporation Common Stock $543,607 0.12% 2,662 $97,499 Down ×1
BY Byline Bancorp, Inc. Common Stock $537,239 0.12% 14,587 $-105,768 Down ×1
SBFG SB Financial Group, Inc. - Common Stock $526,653 0.11% 18,408 $61,483
CP Canadian Pacific Kansas City Limited Common Shares $522,429 0.11% 6,139 $-60,206 Down ×3
BANR Banner Corporation - Common Stock $521,327 0.11% 7,781 $4,357
HWC Hancock Whitney Corporation - Common Stock $518,688 0.11% 7,200 $-19,296
DUK Duke Energy Corporation (Holding Company) Common Stock $496,645 0.11% 4,356 $-87,985 Down ×1
TFC Truist Financial Corporation Common Stock $495,901 0.11% 10,711 $-125,826 Down ×5
VUG Vanguard Morningstar Growth ETF $492,205 0.11% 5,462 $46,970 Up ×2
MTB M&T Bank Corporation Common Stock $487,124 0.10% 2,239 $-43,343 Up ×4
HD Home Depot, Inc. (The) Common Stock $476,344 0.10% 1,674 $-117,976 Down ×1
SCHW Charles Schwab Corporation (The) Common Stock $472,852 0.10% 4,838 $27,061 Up ×3
JNJ Johnson & Johnson Common Stock $471,770 0.10% 1,782 $14,115 Down ×1
VZ Verizon Communications Inc. Common Stock $463,113 0.10% 10,096 $35,639
TOWN Towne Bank - Common Stock $461,454 0.10% 12,944 $-7,637
SPFI South Plains Financial, Inc. - Common Stock $459,030 0.10% 11,000 $243,605 Up ×1
FBNC First Bancorp - Common Stock $458,325 0.10% 7,500 $-53,115 Down ×1
TJX TJX Companies, Inc. (The) Common Stock $446,282 0.10% 3,373 $-64,894 Down ×1
GLD SPDR Gold Shares $437,966 0.09% 1,150 $61,482 Up ×1
SF Stifel Financial Corporation Common Stock $420,240 0.09% 6,000 $71,390 Up ×3
MCHP Microchip Technology Incorporated - Common Stock $414,169 0.09% 5,326 $-180,141 Down ×1
BMRC Bank of Marin Bancorp - Common Stock $407,798 0.09% 15,059 $-9,336
BIL SPDR SERIES TRUST $400,467 0.09% 4,370 $0
VEA VANGUARD TAX-MANAGED FUNDS $400,129 0.09% 5,667 $-3,695 Down ×1
PG Procter & Gamble Company (The) Common Stock $392,026 0.08% 2,698 $-84,254 Down ×1
RIO Rio Tinto Plc Common Stock $391,653 0.08% 4,159 $42,406 Up ×1
NIC Nicolet Bankshares Inc. Common Stock $391,248 0.08% 2,400 $-5,688
MRK Merck & Company, Inc. Common Stock (new) $390,104 0.08% 2,685 $45,178 Up ×1
VMC Vulcan Materials Company (Holding Company) Common Stock $387,739 0.08% 1,585 $-80,442 Down ×1
NTR Nutrien Ltd. Common Shares $373,730 0.08% 5,320 $38,836
PNC PNC Financial Services Group, Inc. (The) Common Stock $373,604 0.08% 1,681 $-40,275

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
CRWD $35,108,255 7.52% up ×4
GOOGL $29,532,390 6.33% up ×3
LLY $20,025,198 4.29% up ×3
PWR $18,851,335 4.04% up ×6
GEV $9,802,790 2.10% up ×5
JPM $7,377,995 1.58% up ×6
C $6,513,820 1.40% up ×3
NOW $5,042,496 1.08% up ×4
COHR $4,495,349 0.96% up ×5
GE $4,469,742 0.96% up ×3
RTX $4,325,528 0.93% up ×3
TSLA $3,489,895 0.75% up ×6
BA $3,168,618 0.68% up ×5
AXP $2,925,442 0.63% up ×5
WFC $1,999,409 0.43% up ×5

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
CIEN $3,649,077 10,372 0.78%
RVMD $1,504,075 7,328 0.32%
Unknown issuer (CUSIP: 30233Q108) $577,112 3,546 0.12%
MRNA $272,872 1,417 0.06%
QNBC $271,516 5,953 0.06%
HPE $214,095 3,351 0.05%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
NVDA Trimmed -2K +$9.8M
CRWD Bought more +99K +$9.8M
MSFT Bought more +74 +$7.5M
AAPL Bought more +105 +$5.8M
NOW Bought more +19K +$3.2M
GLW Price move only +0 -$2.8M
PWR Bought more +396 -$2.0M
GEV Bought more +464 -$1.8M
COHR Bought more +478 -$1.5M
AMZN Bought more +242 +$1.2M

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
PM Dec. 31, 2025 11,262 $1,826,763 26.3%
MRK June 30, 2025 15,192 $1,363,616 78.0%
GTLB March 31, 2026 19,793 $742,843 167.9%
GBTC Dec. 31, 2025 7,223 $648,409 -7.9%
ZTS June 30, 2025 3,852 $634,232 -50.1%
HTBK March 31, 2026 42,041 $504,912 No longer tracked
XOM Sept. 30, 2026 3,514 $480,476 11.8%
IEFA March 31, 2026 4,397 $393,397
LMT Dec. 31, 2025 719 $358,891 30.2%
BIV March 31, 2026 4,584 $357,002
IWR March 31, 2026 3,677 $353,985 12.9%
QLYS June 30, 2025 2,726 $343,285 56.4%
IPGP Sept. 30, 2026 2,824 $331,312 -3.5%
HON June 30, 2026 1,307 $295,447 -2.1%
MC March 31, 2026 4,000 $274,960 2.3%
MGM Sept. 30, 2025 7,500 $257,925 -21.3%
PYPL Dec. 31, 2025 3,794 $254,426 -3.1%
CIVB Dec. 31, 2025 12,222 $248,229 27.6%
BX March 31, 2026 1,560 $240,458 4.5%
PFBC March 31, 2026 2,500 $236,075 18.1%
T June 30, 2026 8,123 $235,497 0.0%
BND March 31, 2026 3,140 $232,580
CRWV Sept. 30, 2025 1,398 $227,958 -54.3%
UNH March 31, 2026 671 $221,401 50.4%
NEE Sept. 30, 2026 2,512 $220,478 7.0%
NBIS Dec. 31, 2025 1,936 $217,355 117.8%
EQBK June 30, 2025 5,500 $216,700 19.2%
XLK March 31, 2026 1,480 $213,083 43.7%
JNJ June 30, 2025 1,281 $212,474 77.4%
ETN Dec. 31, 2025 567 $212,200 23.3%
HBCP Sept. 30, 2026 3,003 $205,766 -7.0%
HUBS June 30, 2026 837 $204,312 36.4%
VICR Sept. 30, 2026 535 $203,182 -25.0%
PNFP Sept. 30, 2026 2,000 $201,760 6.3%
TSM Sept. 30, 2026 422 $201,671 -3.7%
KMPR June 30, 2025 3,000 $200,550 -54.3%
HPE June 30, 2025 12,485 $192,644 195.0%
PATH Dec. 31, 2025 11,656 $155,957 -13.4%
FLG Sept. 30, 2025 13,000 $137,800 -12.0%
LXP (filed as LXPXXXX) Dec. 31, 2025 15,000 $134,400 23.3%
AXTI June 30, 2025 17,444 $24,596 2797.1%