Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +38.7%
S&P 500 total return (same window) +37.0%
Excess return +1.7%

Annualized: +29.9% · 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: 89.8% · Options excluded: 0.0%

Sector breakdown

04
Industrials 20.0%
Financials 14.7%
Materials 7.9%
Retail 7.8%
Energy 6.9%
Consumer Discretionary 6.4%
Technology 4.6%
Communication Services 4.2%
Utilities 2.3%
Healthcare 2.3%
Consumer Staples 1.7%
Consumer products 0.7%
Real Estate 0.5%
Other/Unmapped 20.1%

Full portfolio 98 positions

05
Type Streak 8Q trend
VOO Vanguard S&P 500 ETF $13,005,556 6.02% 18,936 $1,760,487 Up ×1
VTI Vanguard Morningstar Total Stock Market ETF $10,874,801 5.03% 29,388 $1,515,300 Up ×6
MSGS Madison Square Garden Sports Corp. Class A Common Stock (New) $5,164,850 2.39% 12,853 $1,041,288 Up ×6
SCHB SCHWAB STRATEGIC TRUST $5,063,019 2.34% 174,828 $664,420 Down ×1
KEX Kirby Corporation Common Stock $4,820,408 2.23% 35,452 $108,350 Down ×1
SPY SPY $4,587,408 2.12% 6,143 $578,062 Down ×1
FCFS FirstCash Holdings, Inc. - Common Stock $4,435,858 2.05% 20,506 $583,362 Up ×6
ARCB ArcBest Corporation - Common Stock $4,143,713 1.92% 28,868 $1,317,338 Up ×1
DRVN Driven Brands Holdings Inc. - Common Stock $4,037,944 1.87% 289,666 $1,575,980 Up ×2
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $3,969,594 1.84% 7,933 $127,368 Down ×6
LPX Louisiana-Pacific Corporation Common Stock $3,887,692 1.80% 49,424 $991,369 Up ×1
AGM Federal Agricultural Mortgage Corporation Common Stock $3,784,934 1.75% 18,994 $1,033,190 Up ×2
CVX Chevron Corporation Common Stock $3,778,002 1.75% 22,792 $-1,509,328 Down ×3
FTDR Frontdoor, Inc. - Common Stock $3,708,414 1.72% 47,795
INGM Ingram Micro Holding Corporation Common Stock $3,656,474 1.69% 133,302 $1,112,863 Up ×5
NEM Newmont Corporation $3,651,264 1.69% 39,093 $-661,841 Down ×1
AZZ AZZ Inc. $3,606,773 1.67% 23,262 $693,246 Down ×1
OLLI Ollie's Bargain Outlet Holdings, Inc. - Common Stock $3,566,924 1.65% 46,396 $2,238,419 Up ×3
TTI Tetra Technologies, Inc. Common Stock $3,561,427 1.65% 314,336 $887,911 Up ×2
SENEA Seneca Foods Corp. - Class A Common Stock $3,497,238 1.62% 20,106 $468,340 Up ×1
MSFT Microsoft Corporation - Common Stock $3,338,871 1.55% 8,951 $12,237 Down ×2
ASO Academy Sports and Outdoors, Inc. - Common Stock $3,207,102 1.48% 68,048 Up ×1
THG Hanover Insurance Group Inc $3,119,943 1.44% 14,571 $588,166 Down ×1
BBSI Barrett Business Services, Inc. - Common Stock $3,103,453 1.44% 87,372 Up ×1
B Barrick Mining Corporation Common Shares $3,057,699 1.42% 83,248 $-409,247 Down ×1
DNOW DNOW Inc. Common Stock $2,975,681 1.38% 229,428 $250,292 Up ×2
WNC Wabash National Corporation Common Stock $2,931,687 1.36% 217,162 $1,085,904 Up ×1
MSA MSA Safety Incorporated Common Stock $2,882,665 1.33% 16,512 $193,229 Up ×2
CSCO Cisco Systems, Inc. - Common Stock $2,879,767 1.33% 24,517 $989,752 Up ×1
CRD-A (filed as CRDA) Crawford & Company Class A $2,866,209 1.33% 254,322 $329,362 Down ×1
SO Southern Company (The) Common Stock $2,828,900 1.31% 29,557 $5,787 Up ×1
GLD SPDR Gold Shares $2,638,706 1.22% 7,163 $-432,704 Up ×5
ALL Allstate Corporation (The) Common Stock $2,523,592 1.17% 10,606 $327,239 Up ×1
HD Home Depot, Inc. (The) Common Stock $2,510,376 1.16% 7,118 $1,116,869 Up ×1
MPC Marathon Petroleum Corporation Common Stock $2,501,731 1.16% 9,785 $106,814 Down ×2
ALG Alamo Group, Inc. Common Stock $2,481,825 1.15% 15,088 $1,008,478 Up ×1
PNC PNC Financial Services Group, Inc. (The) Common Stock $2,389,811 1.11% 9,706 $377,165 Up ×1
CNX CNX Resources Corporation Common Stock $2,338,523 1.08% 68,922 $-318,651 Down ×1
FOXF Fox Factory Holding Corp. - Common Stock $2,313,365 1.07% 136,522 Up ×1
SCL Stepan Company Common Stock $2,284,241 1.06% 40,995 $270,797 Up ×2
LINC Lincoln Educational Services Corporation - Common Stock $2,237,915 1.04% 44,848 $-5,406,060 Down ×1
ODFL Old Dominion Freight Line, Inc. - Common Stock $2,100,587 0.97% 9,698 $221,816 Up ×1
PSN Parsons Corporation Common Stock $2,013,662 0.93% 38,436 $876,417 Up ×2
TBCH Turtle Beach Corporation - Common Stock $1,999,072 0.93% 160,568 $388,171 Up ×3
GPK Graphic Packaging Holding Company $1,844,148 0.85% 174,470 $107,143 Down ×1
JNJ Johnson & Johnson Common Stock $1,755,617 0.81% 6,913 $95,050 Up ×3
LH Labcorp Holdings Inc. Common Stock $1,752,520 0.81% 6,259 $80,422 Down ×3
SSTI SoundThinking, Inc. - Common Stock $1,748,523 0.81% 193,207 $509,722 Up ×2
MNRO Monro, Inc. - Common Stock $1,712,540 0.79% 100,090 $145,063 Up ×2
IBKR Interactive Brokers Group, Inc. - Class A Common Stock $1,635,308 0.76% 18,788 $352,728 Down ×3
COST Costco Wholesale Corporation - Common Stock $1,566,211 0.73% 1,674 $-112,212 Down ×2
DUK Duke Energy Corporation (Holding Company) Common Stock $1,557,820 0.72% 12,307 $-30,613 Up ×1
WRB W.R. Berkley Corporation Common Stock $1,533,181 0.71% 21,738 $114,789 Up ×1
TITN Titan Machinery Inc. - Common Stock $1,516,141 0.70% 71,787 $341,661 Up ×4
UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) $1,512,439 0.70% 25,157 $93,943 Up ×1
LKQ LKQ Corporation - Common Stock $1,479,693 0.68% 56,198 $-146,583 Up ×4
CME CME Group Inc. - Class A Common Stock $1,455,491 0.67% 6,591 $-470,486 Up ×1
LMT Lockheed Martin Corporation Common Stock $1,446,357 0.67% 2,839 $-248,957 Up ×1
JAAA Janus Henderson AAA CLO ETF $1,429,454 0.66% 28,312 $-69,507 Down ×2
DKS Dick's Sporting Goods Inc Common Stock $1,417,563 0.66% 6,250 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $1,411,187 0.65% 10,982 $105,439 Up ×1
RTO Rentokil Initial plc American Depositary Shares (each representing five (5) Ordinary Shares) $1,406,124 0.65% 49,148 $-121,537 Up ×1
NPK National Presto Industries, Inc. Common Stock $1,376,515 0.64% 11,013 $-710,909 Down ×1
WMB Williams Companies, Inc. (The) Common Stock $1,294,557 0.60% 17,414 $34,007 Up ×1
CCK Crown Holdings, Inc. $1,247,240 0.58% 11,154 $140,480 Up ×1
NSC Norfolk Southern Corporation Common Stock $1,216,520 0.56% 3,867 $101,525 Down ×3
SYY Sysco Corporation Common Stock $1,199,206 0.56% 14,348 $180,899 Up ×1
ROP Roper Technologies, Inc. - Common Stock $1,194,178 0.55% 3,529 Up ×1
CCI Crown Castle Inc. Common Stock $1,144,947 0.53% 15,119 $-74,442 Up ×2
AVGO Broadcom Inc. - Common Stock $1,126,073 0.52% 2,981 $210,852 Up ×3
BRO Brown & Brown, Inc. Common Stock $1,117,814 0.52% 17,425 $-4,711 Up ×1
AVD American Vanguard Corporation Common Stock ($0.10 Par Value) $1,061,248 0.49% 379,017 $129,908 Up ×2
HTLD Heartland Express, Inc. - Common Stock $1,053,254 0.49% 69,202 Up ×1
Unknown issuer (CUSIP: 314352105) $1,044,014 0.48% 6,914 Up ×1
JPM JP Morgan Chase & Co. Common Stock $1,019,633 0.47% 3,115 $106,855 Up ×1
VZ Verizon Communications Inc. Common Stock $928,643 0.43% 21,933 $-164,211 Up ×2
Unknown issuer (CUSIP: 438516205) $857,761 0.40% 3,831 Up ×1
XOM Exxon Mobil Corporation Common Stock $784,613 0.36% 5,739 $-1,164,073 Down ×4
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $748,850 0.35% 1 $30,710
Unknown issuer (CUSIP: 43849R105) $727,795 0.34% 3,292 Up ×1
AMZN Amazon.com, Inc. - Common Stock $713,828 0.33% 2,995 $87,144 Down ×1
V Visa Inc. $649,126 0.30% 1,892 $80,915 Up ×4
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $647,537 0.30% 8,351 $-119,434 Up ×4
WMT Walmart Inc. - Common Stock $640,147 0.30% 5,652 $-36,311 Up ×3
U Unity Software Inc. Common Stock $612,555 0.28% 21,433 Up ×1
WTRG Essential Utilities, Inc. Common Stock $496,591 0.23% 12,962 $-2,009 Up ×2
IAU iShares Gold Trust Shares $489,833 0.23% 6,487 $-129,932 Down ×1
IVW iShares S&P 500 Growth ETF $471,453 0.22% 3,428 $83,712
CMDY iShares U.S. ETF Trust $448,160 0.21% 8,114 $-93,420 Down ×1
VUG Vanguard Morningstar Growth ETF $435,179 0.20% 5,052 $67,402 Up ×1
CDW CDW Corporation - Common Stock $434,578 0.20% 3,090 $67,766 Up ×2
MA Mastercard Incorporated Common Stock $418,070 0.19% 814 $-54,109 Down ×1
BINC iShares Flexible Income Active ETF $407,101 0.19% 7,778 $4,228 Up ×3
JBBB Janus Henderson B-BBB CLO ETF $400,297 0.19% 8,454 $-4,188 Down ×1
VTV Vanguard Morningstar Value ETF $343,022 0.16% 1,574 $32,437 Down ×1
DLN WisdomTree Trust $262,183 0.12% 2,722 $19,027
DG Dollar General Corporation Common Stock $260,724 0.12% 2,265 $2,842 Up ×1
KO Coca-Cola Company (The) Common Stock $238,121 0.11% 2,930 $15,294

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
VTI $10,874,801 5.03% up ×6
MSGS $5,164,850 2.39% up ×6
FCFS $4,435,858 2.05% up ×6
INGM $3,656,474 1.69% up ×5
OLLI $3,566,924 1.65% up ×3
GLD $2,638,706 1.22% up ×5
TBCH $1,999,072 0.93% up ×3
JNJ $1,755,617 0.81% up ×3
TITN $1,516,141 0.70% up ×4
LKQ $1,479,693 0.68% up ×4
AVGO $1,126,073 0.52% up ×3
V $649,126 0.30% up ×4
SHEL $647,537 0.30% up ×4
WMT $640,147 0.30% up ×3
BINC $407,101 0.19% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
FTDR $3,708,414 47,795 1.72%
ASO $3,207,102 68,048 1.48%
BBSI $3,103,453 87,372 1.44%
FOXF $2,313,365 136,522 1.07%
DKS $1,417,563 6,250 0.66%
ROP $1,194,178 3,529 0.55%
HTLD $1,053,254 69,202 0.49%
Unknown issuer (CUSIP: 314352105) $1,044,014 6,914 0.48%
Unknown issuer (CUSIP: 438516205) $857,761 3,831 0.40%
Unknown issuer (CUSIP: 43849R105) $727,795 3,292 0.34%
U $612,555 21,433 0.28%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
LINC Trimmed -143K -$5.4M
OLLI Bought more +32K +$2.2M
VOO Bought more +117 +$1.8M
DRVN Bought more +94K +$1.6M
VTI Bought more +213 +$1.5M
CVX Trimmed -3K -$1.5M
ARCB Bought more +133 +$1.3M
XOM Trimmed -6K -$1.2M
HD Bought more +3K +$1.1M
INGM Bought more +24K +$1.1M

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
HII March 31, 2026 15,418 $5,243,199 -29.9%
UNF June 30, 2026 14,017 $3,526,537 -4.4%
COKE March 31, 2026 19,958 $3,059,561 1.3%
IWD March 31, 2026 14,161 $2,978,625
VIRT June 30, 2026 62,042 $2,728,607 5.6%
FCN June 30, 2026 14,433 $2,551,321 -7.4%
MRC Dec. 31, 2025 172,361 $2,485,446 No longer tracked
THS Dec. 31, 2025 107,393 $2,170,413 No longer tracked
SIGI Dec. 31, 2025 26,438 $2,143,329 1.9%
UTI June 30, 2026 51,687 $1,865,901 -55.2%
PLPC June 30, 2026 6,891 $1,865,738 1.3%
HES Sept. 30, 2025 13,156 $1,822,632 No longer tracked
NWE June 30, 2025 31,265 $1,809,306 34.0%
ALNT Sept. 30, 2025 49,615 $1,801,521 165.1%
HON June 30, 2026 7,588 $1,715,116 -4.4%
FTDR Sept. 30, 2025 28,813 $1,698,238 15.4%
UL (filed as ULXXXX) Dec. 31, 2025 28,386 $1,682,722 -8.3%
SPB June 30, 2026 22,610 $1,666,357 -11.4%
GOLD June 30, 2025 84,904 $1,650,534 87.7%
WMG June 30, 2026 46,886 $1,197,468 2.1%
FOX Sept. 30, 2025 22,189 $1,145,618 -1.0%
IWM March 31, 2026 4,277 $1,052,826 14.3%
MZTI March 31, 2026 6,258 $1,028,940 -28.1%
SLRC Dec. 31, 2025 54,386 $831,564 -26.0%
LAND Dec. 31, 2025 86,273 $790,261 5.8%
MP June 30, 2025 32,185 $785,636 40.8%
KVUE March 31, 2026 33,298 $574,391 0.9%
FIGS June 30, 2025 114,149 $523,944 141.7%
HUM Dec. 31, 2025 1,547 $402,483 57.8%
PAAS June 30, 2026 6,472 $353,565 1.2%
HUM June 30, 2026 2,009 $348,341 1.7%
VSTS Dec. 31, 2025 72,302 $327,528 110.0%
GENC March 31, 2026 24,503 $317,559 No longer tracked
RVTY Sept. 30, 2025 3,149 $304,571 79.5%
PG June 30, 2025 1,784 $304,029 -8.4%
EQT June 30, 2026 4,304 $273,907 -3.9%
FMC Dec. 31, 2025 7,340 $246,844 -35.1%
SCHV Dec. 31, 2025 7,167 $208,631 14.2%
KO Sept. 30, 2025 2,906 $205,600 30.4%
HNRG June 30, 2025 15,000 $184,200 -11.9%
HCWB June 30, 2025 75,116 $21,190 -93.1%