Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +21.6%
S&P 500 total return (same window) +37.0%
Excess return -15.4%

Annualized: +17.0% · S&P 500: +28.7%

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: 99.9% · Options excluded: 0.0%

Sector breakdown

04
Financials 36.3%
Communication Services 32.8%
Retail 23.6%
Industrials 4.6%
Technology 2.8%
Healthcare 0.0%
Consumer products 0.0%

Full portfolio 22 positions

05
Type Streak 8Q trend
GOOGL Alphabet Inc. - Class A Common Stock $786,021,020 16.48% 2,199,460 $-15,366,716 Down ×6
GOOG Alphabet Inc. - Class C Capital Stock $777,887,088 16.30% 2,201,588 $-24,475,249 Down ×6
COST Costco Wholesale Corporation - Common Stock $440,045,088 9.22% 470,400 $-28,639,713 Up ×1
PNC PNC Financial Services Group, Inc. (The) Common Stock $431,009,834 9.03% 1,750,507 $67,734,636 Up ×1
V Visa Inc. $405,925,561 8.51% 1,183,146 $49,328,301 Up ×1
SCHW Charles Schwab Corporation (The) Common Stock $342,916,011 7.19% 3,716,441 $-5,075,482 Up ×1
TJX TJX Companies, Inc. (The) Common Stock $315,980,368 6.62% 2,085,679 $-14,903,180 Up ×1
AXP American Express Company Common Stock $311,466,350 6.53% 920,817 $34,082,813 Up ×1
HD Home Depot, Inc. (The) Common Stock $293,144,089 6.14% 831,190 $44,411,160 Up ×1
TROW T. Rowe Price Group, Inc. - Common Stock $234,355,223 4.91% 2,061,353 $49,313,217 Up ×1
FAST Fastenal Company - Common Stock $217,126,531 4.55% 4,520,644 $7,383,312 Up ×1
ACN Accenture plc Class A Ordinary Shares (Ireland) $122,888,607 2.58% 987,533 $-141,363,553 Down ×3
TSCO Tractor Supply Company - Common Stock $75,131,849 1.57% 2,376,838 $-31,642,607 Up ×1
AAPL Apple Inc. - Common Stock $8,666,621 0.18% 29,951 $1,065,357
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $3,028,861 0.06% 6,053 $128,263
MSFT Microsoft Corporation - Common Stock $2,264,977 0.05% 6,072 $-1,093,205 Down ×1
MA Mastercard Incorporated Common Stock $1,222,368 0.03% 2,380 $33,177
TMO Thermo Fisher Scientific Inc Common Stock $506,374 0.01% 1,010 $9,929
PG Procter & Gamble Company (The) Common Stock $410,592 0.01% 2,800 $6,160
AMZN Amazon.com, Inc. - Common Stock $385,634 0.01% 1,618 $48,653
INTC Intel Corporation - Common Stock $372,533 0.01% 2,668 Up ×1
NVDA NVIDIA Corporation - Common Stock $211,695 0.00% 1,058 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
INTC $372,533 2,668 0.01%
NVDA $211,695 1,058 0.00%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
ACN Trimmed -345K -$141.4M
PNC Bought more +5K +$67.7M
V Bought more +3K +$49.3M
TROW Bought more +9K +$49.3M
HD Bought more +75K +$44.4M
AXP Bought more +4K +$34.1M
TSCO Bought more +20K -$31.6M
COST Bought more +36 -$28.6M
GOOG Trimmed -595K -$24.5M
GOOGL Trimmed -587K -$15.4M

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
UNH June 30, 2025 619,376 $324,398,180 19.2%
FISV Dec. 31, 2025 1,396,217 $180,014,258 -34.0%
ABBV June 30, 2026 10,787 $2,346,065 4.4%
ABT June 30, 2025 11,070 $1,468,435 -28.3%
SHW June 30, 2026 3,000 $961,650 -7.2%
PPG June 30, 2025 3,984 $435,650 -7.6%
JNJ June 30, 2025 2,400 $398,016 67.6%